Document:

Exhibit
10.23 

 

iSpecimen
Inc.

 

Fifth
Amendment to Note Subscription Agreements & Secured Promissory Notes

 

Approved
by the Board of Directors on March 15, 2021

 

This Fifth Amendment to the
Note Subscription Agreements and Secured Promissory Notes (this “Amendment”) is made and entered into and
effective as of March 15, 2021 (the “Effective Amendment Date”), by and among iSpecimen Inc., a Delaware
corporation (the “Company”), and those investors who are holders (the “Note Investors”)
of the Company’s Secured Promissory Notes in the aggregate principal amount of $6,500,000 (as described below).

 

Whereas,
the Company and the Note Investors have previously and separately entered into various Note Subscription Agreements executed at various
times between August 2018 and September 2020 (the “Note Subscription Agreements”), pursuant to which the Company
issued and sold $6,500,000 in aggregate principal amount of Secured Promissory Notes (the “Secured Promissory Notes”);

 

Whereas,
the Note Subscription Agreements and the Secured Promissory Notes may be amended with the consent of the Company and the holders of greater
than seventy-five percent (75%) in principal amount of outstanding Secured Promissory Notes (the “Majority Lenders”
as defined in the Note Subscription Agreements prior to this Amendment);

 

Now,
Therefore, in consideration of the mutual promises and covenants set forth herein, and
for other good and valuable consideration, the receipt of and sufficiency of which are hereby acknowledged, the Company and the undersigned
Note Investors agree as follows:

 

1.                  
Defined Terms. Except as specifically provided herein, capitalized terms not defined herein shall have the meanings
ascribed to them in the Note Subscription Agreements and the Secured Promissory Notes.

 

2.                  
Amendments to the Note Subscription Agreements and the Secured Promissory Notes. The Note Subscription Agreements
and the Secured Promissory Notes are hereby amended as follows: 

 

		A.	Note Subscription Agreement: Section 1, Subscription for Note

 

		Delete:	“1.     Subscription
for Note. Subject to the terms and conditions contained herein, the undersigned Investor hereby subscribes for and agrees to purchase
the principal amount of Secured Promissory Notes, in the form attached hereto as Exhibit A (the “Notes”),
in the amount set forth on the signature page of this Agreement. The Notes shall bear interest, on a non-compounding basis, at a rate
of twenty four percent (24%) per annum prior to October 1, 2020 and at a rate of thirty percent (30%) per annum from and after October
1, 2020, due on maturity on the earlier of (i) the closing of a new permanent equity financing yielding gross proceeds in excess of $10,000,000
(inclusive of existing convertible notes), (ii) the sale of the Company, (iii) prepayment by the Company, or (iv) March 31, 2021 (the
 “Maturity Date”). The Notes will be repayable upon demand of the Majority Lenders at any time on or after the
Maturity Date, provided that the Notes have not been otherwise repaid in accordance with their terms. The Notes will be secured obligations
of the Company. The Majority Lenders may, with the approval of the Company, elect to extend the Maturity Date one or more times, at their
discretion. The Notes will be issued by the Company solely to “accredited investors” (as defined under Rule 501 of Regulation
D of the Securities Act of 1933, as amended, the “Securities Act”).”

 

    
	iSpecimen Inc.	
	Fifth Amendment to Note Subscription Agreements and Secured Promissory Notes, March 2021
	Page 1

 

     

    

 

		Insert:	“1.     Subscription for
Note. Subject to the terms and conditions contained herein, the undersigned Investor hereby subscribes for and agrees to purchase
the principal amount of Secured Promissory Notes, in the form attached hereto as Exhibit A (the “Notes”),
in the amount set forth on the signature page of this Agreement. The Notes shall bear interest, on a non-compounding basis, at a rate
of twenty four percent (24%) per annum prior to October 1, 2020 and at a rate of thirty percent (30%) per annum from and after October
1, 2020, due on maturity on the earlier of (i) the closing of an initial public offering yielding gross proceeds in excess of $18,000,000,
exclusive of any existing convertible notes (a “Qualified IPO”), (ii) the sale of the Company, (iii) prepayment
by the Company, or (iv) April 30, 2021 (the “Maturity Date”). The Notes will be repayable upon demand of the
Majority Lenders at any time on or after the Maturity Date, provided that the Notes have not been otherwise repaid or converted in accordance
with Sections 1.6 or 1.7. The Notes will be secured obligations of the Company. The Majority Lenders may, with the approval of the Company,
elect to extend the Maturity Date one or more times, at their discretion. The Notes will be issued by the Company solely to “accredited
investors” (as defined under Rule 501 of Regulation D of the Securities Act of 1933, as amended, the “Securities Act”).”

 

		B.	Note Subscription Agreement: New Section 1.6, Elective Conversion Upon a Qualified IPO

 

		Insert:	“1.6     Elective Conversion Upon a Qualified IPO. Notwithstanding anything contained
herein to the contrary, the Note Investor may provide notice of their election at any time prior to the Maturity Date and up to the date
of March 19, 2021 or such other date as determined at the discretion of the Board of Directors (“Elective Notice”)
to convert fifty percent (50%) or more of the outstanding unpaid principal on the Secured Promissory Note issued hereunder (the “Elective
Principal Conversion Amount”) plus any amount of outstanding unpaid interest on the Secured Promissory Note
issued hereunder (the “Elective Interest Conversion Amount”) at the time of the Qualified IPO, into the same
class or series of securities of the Company to be offered and issued in the Qualified IPO (the “IPO Stock”)
at a rate equal to the issue price of the IPO Stock less a thirty percent (30%) discount (that is, at a rate of seventy percent (70%)
of the issue price of the IPO Stock; such discounted IPO Stock, the “Elective Conversion Stock”). With respect
to each Investor, any Elective Principal Conversion Amount elected by such Investor shall be deducted from the amount of principal then
outstanding on such Investor’s Note to calculate the Investor’s “Adjusted Principal Repayment Amount”
and any Elective Interest Conversion Amount elected by such Investor shall be deducted from the amount of accrued interest due to such
Investor to calculate the Investor’s “Adjusted Interest Repayment Amount”.

 

Any Elective Notice
given by the Note Investor shall be in the form provided in Exhibit B to the Note Subscription Agreement and shall be binding upon its
execution and submission to the Company, converting the sum of the amounts specified for such elective conversion first with respect
to outstanding principal on the Note and second with respect to outstanding interest. In connection with the provision of any Elective
Notice by the Note Investor, such Note Investor agrees to and shall enter into the customary “lock-up” agreement in favor
of the underwriter of the Company’s initial public offering for a period of six (6) months from the date of the Qualified IPO, provided
in Exhibit C (the “Lock Up Agreement”). An Elective Notice shall only be effective upon execution of the Lock
Up Agreement by the Investor. Upon the timely delivery and receipt by the Company of such Elective Notice and Lock Up Agreement, the Company
shall take reasonable efforts to obtain all approvals, consents, waivers and make all filings necessary or appropriate to designate and
authorize the Elective Conversion Stock, if and as applicable.

 

The sum of all Elective
Interest Conversion Amounts specified in all Elective Notices provided by Investors to the Company shall be deducted from the total amount
of interest then outstanding on all Secured Promissory Note to calculate the “Total Adjusted Outstanding Interest”,
which shall be repaid in accordance with Section 1.7. The sum of all Elective Principal Conversion Amounts specified in all Elective Notices
provided by Investors to the Company shall be deducted from the total amount of principal then outstanding on all Secured Promissory Note
to calculate the “Total Adjusted Outstanding Principal”, which shall be repaid in accordance with Section 1.7.

 

    
	iSpecimen Inc.	
	Fifth Amendment to Note Subscription Agreements and Secured Promissory Notes, March 2021
	Page 2

 

     

    

 

		C.	Note Subscription Agreement: New Section 1.7, Repayment of Total Adjusted Outstanding Interest and Total
Adjusted Outstanding Principal Upon a Qualified IPO.

 

		Insert:	“1.7     Repayment of Total Adjusted Outstanding Interest and Total Adjusted Outstanding
Principal Upon a Qualified IPO. If a Qualified IPO is consummated, either as a single transaction or a series of related transactions
prior to the Maturity Date, the Company shall make a cash payment to the Note Investors equal to the amount of “Note Repayment
Proceeds”, which shall be defined as the greater of either the Total Adjusted Outstanding Interest or one
and one-half times (1.50X) the Third-Party Loan Proceeds. For the purposes herein, “Third-Party Loan Proceeds”
shall mean the net cash proceeds received by the Company from an institutional lender, commercial bank, or other similar lender consummated
on or about the time of the Qualified IPO (or contingent upon the closing of the Qualified IPO).

 

The Company shall first apply
such Note Repayment Proceeds to repay the Total Adjusted Outstanding Interest due on the Notes as of such date by delivering in cash to
each Investor an amount equal to such Investor’s Adjusted Interest Repayment Amount. The Company shall second apply the balance
of the Note Repayment Proceeds that remains after payment of the Total Adjusted Outstanding Interest, up to the amount equal to
the Total Adjusted Outstanding Principal (the “Principal Repayment Proceeds”), to make a repayment in cash to
each Investor equal to an amount of principal calculated by multiplying the Principal Repayment Proceeds by a fraction, the numerator
of which is equal to the Adjusted Principal Repayment Amount of such Investor and the denominator of which is equal to Total
Adjusted Outstanding Principal then outstanding to all Investors. In no event shall any cash payment made to any Investor
exceed the sum of the Adjusted Interest Repayment Amount plus the Adjusted Principal Repayment Amount for such Investor.

 

Any remaining unpaid principal under
this Note, calculated by subtracting the Principal Repayment Proceeds from the Total Adjusted Outstanding Principal on the Secured Promissory
Notes (the “Automatic Principal Conversion Amount”), shall then automatically convert into IPO Stock at a rate
equal to the issue price of the IPO Stock less a ten percent (10%) discount (that is, at a rate of ninety percent (90%) of the issue price
of the IPO Stock; such discounted IPO Stock; the “Automatic Conversion Stock”). Notwithstanding the foregoing,
if the Company is unable to repay at least twenty-five percent (25%) of the Total Adjusted Outstanding Principal of the Notes (the “Principal
Repayment Floor”), then no Automatic Conversion Stock shall be issued and the Total Adjusted Outstanding Principal on the
Notes shall remain on the books of the Company under their existing Notes which shall automatically be amended to (i) have their interest
rates adjusted to a rate of fifteen percent (15%) per annum and (ii) have their Maturity Date set to a date that is eighteen (18) months
from the date of the Qualified IPO.

 

In connection with
the consummation of such Qualified IPO, the full payment of the interest due on the Note in the form of either cash or Elected Conversion
Stock and the full repayment of principal on the Note in the form of either cash, Elected Conversion Stock, and/or Automatic Conversion
Stock, this Note shall be treated by the Company as surrendered for cancellation on the books of the Company.

 

    
	iSpecimen Inc.	
	Fifth Amendment to Note Subscription Agreements and Secured Promissory Notes, March 2021
	Page 3

 

     

    

 

		D.	Secured Promissory Note: Preamble

 

		Delete:	 “FOR VALUE RECEIVED, iSpecimen Inc., a Delaware corporation (the “Company”),
hereby promises to pay, on the written demand of the combined Majority Lenders at any time on or after the earlier of (i) the closing
of a new permanent equity financing yielding gross proceeds in excess of $10,000,000 (inclusive of existing convertible notes), (ii) the
sale of the Company, (iii) prepayment by the Company, or (iv) March 31, 2021 (the “Maturity Date”),”

 

		Insert:	“FOR VALUE RECEIVED, iSpecimen Inc., a Delaware corporation (the “Company”),
hereby promises to pay, on the written demand of the combined Majority Lenders at any time on or after the earlier of (i) the closing
of an initial public offering yielding gross proceeds of or in excess of $18,000,000, exclusive of any existing convertible notes (a “Qualified
IPO”), (ii) the sale of the Company, (iii) prepayment by the Company, or (iv) April 30, 2021 (the “Maturity
Date”),”

 

		E.	Secured Promissory Note: Section 1. Interest

 

		Delete:	“Interest on the principal amount
of this Note will accrue from and including the date hereof until and including the date such principal amount is paid, at a rate of twenty
four percent (24%) per annum prior to October 1, 2020 and at a rate of thirty percent (30%) per annum from and after October 1, 2020,
without compounding.”

 

		Insert:	“Interest on the principal amount
of this Note will accrue from and including the date hereof until and including the date such principal amount is paid, at a rate of twenty
four percent (24%) per annum prior to October 1, 2020 and at a rate of thirty percent (30%) per annum from and after October 1, 2020,
without compounding, subject to further adjustment in accordance with the terms of the Note Subscription Agreements.”

 

		F.	Secured Promissory Note: New Section 1A. Conversion of Note

 

		Insert:	“Conversion of Note.
Sections 1.6 and 1.7 of the Note Subscription Agreement provide for the repayment, conversion or amendment (as applicable) of this Note
in the event of a Qualified IPO.”

 

3.                  
Effect of Amendment. The parties hereby agree and acknowledge that except as provided in this Amendment, the Note
Subscription Agreements and the Secured Promissory Notes remain in full force and effect, it being the intention of the parties that this
Amendment, the Note Subscription Agreements, and the Secured Promissory Notes, as applicable, be read, construed and interpreted as one
and the same integrated instrument. This Amendment shall automatically take effect when executed, signed and delivered by those Note Investors
holding greater than seventy-five percent (75%) in principal amount of the outstanding Secured Promissory Notes. The undersigned parties
hereby acknowledge and agree that, except as provided in this Amendment, the Note Subscription Agreements, the Secured Promissory Notes,
and the respective agreements, covenants and obligations thereunder, are hereby expressly ratified and confirmed as of the date hereof.

 

4.                  
Counterparts; Facsimile and Electronic Signatures. This Amendment may be executed in any number of counterparts,
and each such counterpart hereof shall be deemed to be an original instrument, but all such counterparts together shall constitute a single
integrated agreement. For purposes of this Amendment, a document (or signature page thereto) signed and transmitted by facsimile machine,
portable document format, or other electronic means is to be treated as an original document. The signature of any party on any such document,
for purposes hereof, is to be considered as an original signature, and the document transmitted is to be considered to have the same binding
effect as an original signature on an original document. No party may raise the use of a facsimile machine or other electronic means,
or the fact that any signature was transmitted through the use of a facsimile machine or other electronic means, as a defense to the enforcement
of this Amendment.

 

[REST OF PAGE INTENTIONALLY LEFT BLANK -- SIGNATURE
PAGE FOLLOWS]

 

    
	iSpecimen Inc.	
	Fifth Amendment to Note Subscription Agreements and Secured Promissory Notes, March 2021
	Page 4

 

     

    

 

iSpecimen
Inc.

 

Fifth Amendment
TO THE

 

NOTE SUBSCRIPTION
AGREEMENTS and secured promissory notes

 

Approved
by the Board of Directors on March 15, 2021

 

In
Witness Whereof, the parties hereto have executed this Fifth Amendment to the Note Subscription Agreements and Secured
Promissory Notes as of the date and year first written above, as an instrument under seal.

 

	 	Company:
	 	 
	 	iSpecimen Inc. 
	 	 	 
	 	By:	/s/ Christopher Ianelli
	 	 	 
	 	 	 
	 	 	Name:	Christopher Ianelli, MD, PhD
	 	 	 	 
	 	 	Title:	Chief Executive Office 

 

This
Amendment shall take effect when executed by the Company and those Note Investors holding greater than seventy-five percent (75%) in principal
amount of all outstanding Secured Promissory Notes and shall be binding on all other holders of the Secured Promissory
Notes.

 

Note
Investor:

 

	NOTEHOLDER NAME	 
	 	 
	Principal Amount of Note(s) held as of March 15, 2021:	 
	 	 
	 	 	 
	By:	 	 
	 	 	 
	 	 	 
	Address:	 	 
	 	 	 
	 	 	 
	 Date:	 	 

 

    
	iSpecimen Inc.	
	Fifth Amendment to Note Subscription Agreements and Secured Promissory Notes, March 2021
	Page 5

 

     

    

 

iSpecimen
Inc.

 

NOTICE OF CONVERSION ELECTION

 

Reference is made to various Note Subscription Agreements executed
at various times between August 2018 and September 2020 (each, as may be amended from time to time, the “Note Subscription Agreements”),
pursuant to which the Company issued and sold $6,500,000 in aggregate principal amount of Secured Promissory Notes (each as may be amended
from time to time, the “Notes”). Pursuant to the terms of the Note Subscription Agreements and the Notes, the undersigned
hereby submits and agrees to the following Elective Principal Conversion Amount and Elective Interest Conversion Amount:

 

	Elective Principal Conversion Amount:	$              of
    principal outstanding on my Note(s)
	 	NOTE: Elective Principal Conversion Amount entered above must equal or exceed 50% of outstanding principal ($300,000) to qualify for 30% conversion discount upon Qualified IPO.
	 	 
	Elective Interest Conversion Amount:  	 ̈ DO
    NOT convert any interest
	 	 ̈ Convert
    EXACT AMOUNT of
    interest:                    
	 	 ̈ Convert
    ALL interest accrued as of Qualified IPO date

 

This election notice shall be construed and enforced in accordance
with, and the rights of the parties shall be governed by, the general laws of the Commonwealth of Massachusetts and the federal securities
laws. This election notice may be executed in duplicate counterparts, which, when taken together, shall constitute one instrument and
each of which shall be deemed to be an original instrument. Each party hereto acknowledges and agrees that it has not received and is
not relying upon tax advice from any other party hereto, and that it has and will continue to consult its own advisors with respect to
taxes.

 

Note
Investor:

 

	NOTEHOLDER NAME	 
	 	 
	Principal Amount of Note(s) held as of March 15, 2021:	 
	 	 
	Total Accrued Interest on Note(s) as of March 15, 2021:	 
	 	 
	 	 	 
	By:	 	 
	 	 	 
	 	 	 
	Address:	 	 
	 	 	 
	 	 	 
	 Date:	 	 

  

    
	iSpecimen Inc.	
	Fifth Amendment to Note Subscription Agreements and Secured Promissory Notes, March 2021
	Page 6

 

     

    

 

LOCK-UP AGREEMENT

 

The undersigned understands
that ThinkEquity, a Division of Fordham Financial Management, Inc. (the “Representative”), proposes to enter into
an Underwriting Agreement (the “Underwriting Agreement”) with iSpecimen Inc., a Delaware corporation (the “Company”),
providing for the initial public offering (the “Public Offering”) of shares of common stock, par value $0.0001 per
share, of the Company (the “Common Shares”).

 

To
induce the Representative to continue its efforts in connection with the Public Offering, the undersigned hereby agrees that, without
the prior written consent of the Representative, the undersigned will not, during the period commencing on the date hereof and ending
six (6) months after the date of the Underwriting Agreement relating to the Public Offering (the “Lock-Up Period”),
(1) offer, pledge, sell, contract to sell, grant, lend, or otherwise transfer or dispose of, directly or indirectly, any Common Shares
or any securities convertible into or exercisable or exchangeable for Common Shares, whether now owned or hereafter acquired by the undersigned
or with respect to which the undersigned has or hereafter acquires the power of disposition (collectively, the “Lock-Up Securities”);
(2) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
of the Lock-Up Securities, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of Lock-Up
Securities, in cash or otherwise; (3) make any demand for or exercise any right with respect to the registration of any Lock-Up Securities;
or (4) publicly disclose the intention to make any offer, sale, pledge or disposition, or to enter into any transaction, swap, hedge
or other arrangement relating to any Lock-Up Securities. Notwithstanding the foregoing, and subject to the conditions below, the undersigned
may transfer Lock-Up Securities without the prior written consent of the Representative in connection with (a) transactions relating
to Lock-Up Securities acquired in open market transactions after the completion of the Public Offering; provided that no filing
under Section 13 or Section 16(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or
other public announcement shall be required or shall be voluntarily made in connection with subsequent sales of Lock-Up Securities acquired
in such open market transactions; (b) transfers of Lock-Up Securities as a bona fide gift, by will or intestacy or to a family
member or trust for the benefit of the undersigned or a family member (for purposes of this lock-up agreement, “family member”
means any relationship by blood, marriage or adoption, not more remote than first cousin); (c) transfers of Lock-Up Securities to a charity
or educational institution; (d) if the undersigned is a corporation, partnership, limited liability company or other business entity,
(i) any transfers of Lock-Up Securities to another corporation, partnership or other business entity that controls, is controlled by
or is under common control with the undersigned or (ii) distributions of Lock-Up Securities to members, partners, stockholders, subsidiaries
or affiliates (as defined in Rule 405 promulgated under the Securities Act of 1933, as amended) of the undersigned; (e) if the undersigned
is a trust, to a trustee or beneficiary of the trust; provided that in the case of any transfer pursuant to the foregoing clauses (b),
(c) (d) or (e), (i) any such transfer shall not involve a disposition for value, (ii) each transferee shall sign and deliver to the Representative
a lock-up agreement substantially in the form of this lock-up agreement and (iii) no filing under Section 13 or Section 16(a) of
the Exchange Act or other public announcement shall be required or shall be voluntarily made; (f) the receipt by the undersigned from
the Company of Common Shares upon the vesting of restricted stock awards or stock units or upon the exercise of options to purchase the
Company’s Common Shares issued under an equity incentive plan of the Company or an employment arrangement described in the Pricing
Prospectus (as defined in the Underwriting Agreement) (the “Plan Shares”) or the transfer of Common Shares or any
securities convertible into Common Shares to the Company upon a vesting event of the Company’s securities or upon the exercise
of options to purchase the Company’s securities, in each case on a “cashless” or “net exercise” basis or
to cover tax obligations of the undersigned in connection with such vesting or exercise, but only to the extent such right expires during
the Lock-up Period, provided that no filing under Section 13 or Section 16(a) of the Exchange Act or other public announcement
shall be required or shall be voluntarily made within 90 days after the date of the Underwriting Agreement, and after such 90th
day, if the undersigned is required to file a report under Section 13 or Section 16(a) of the Exchange Act reporting a reduction
in beneficial ownership of Common Shares during the Lock-Up Period, the undersigned shall include a statement in such schedule or report
to the effect that the purpose of such transfer was to cover tax withholding obligations of the undersigned in connection with such vesting
or exercise and, provided further, that the Plan Shares shall be subject to the terms of this lock-up agreement; (g) the transfer
of Lock-Up Securities pursuant to agreements described in the Pricing Prospectus under which the Company has the option to repurchase
such securities or a right of first refusal with respect to the transfer of such securities, provided that if the undersigned
is required to file a report under Section 13 or Section 16(a) of the Exchange Act reporting a reduction in beneficial ownership of Common
Shares during the Lock-Up Period, the undersigned shall include a statement in such schedule or report describing the purpose of the
transaction; (h) the establishment of a trading plan pursuant to Rule 10b5-1 under the Exchange Act for the transfer of Lock-Up Securities,
provided that (i) such plan does not provide for the transfer of Lock-Up Securities during the Lock-Up Period and (ii) to the
extent a public announcement or filing under the Exchange Act, if any, is required of or voluntarily made by or on behalf of the undersigned
or the Company regarding the establishment of such plan, such public announcement or filing shall include a statement to the effect that
no transfer of Lock-Up Securities may be made under such plan during the Lock-Up Period; (i) the transfer of Lock-Up Securities that
occurs by operation of law, such as pursuant to a qualified domestic order or in connection with a divorce settlement, provided
that the transferee agrees to sign and deliver a lock-up agreement substantially in the form of this lock-up agreement for the balance
of the Lock-Up Period, and provided further, that any filing under Section 13 or Section 16(a) of the Exchange Act that is required
to be made during the Lock-Up Period as a result of such transfer shall include a statement that such transfer has occurred by operation
of law; and (j) the transfer of Lock-Up Securities pursuant to a bona fide third party tender offer, merger, consolidation or other similar
transaction made to all holders of the Common Shares involving a change of control (as defined below) of the Company after the closing
of the Public Offering and approved by the Company’s board of directors; provided that in the event that the tender offer,
merger, consolidation or other such transaction is not completed, the Lock-Up Securities owned by the undersigned shall remain subject
to the restrictions contained in this lock-up agreement. For purposes of clause (j) above, “change of control” shall mean
the consummation of any bona fide third-party tender offer, merger, amalgamation, consolidation or other similar transaction the result
of which is that any “person” (as defined in Section 13(d)(3) of the Exchange Act), or group of persons, becomes the beneficial
owner (as defined in Rules 13d-3 and 13d-5 of the Exchange Act) of a majority of total voting power of the voting stock of the Company.
The undersigned also agrees and consents to the entry of stop transfer instructions with the Company’s transfer agent and registrar
against the transfer of the undersigned’s Lock-Up Securities except in compliance with this lock-up agreement.

 

    
	iSpecimen Inc.	
	Fifth Amendment to Note Subscription Agreements and Secured Promissory Notes, March 2021
	Page 7

 

     

    

 

The undersigned agrees that,
prior to engaging in any transaction or taking any other action that is subject to the terms of this lock-up agreement during the period
from the date hereof to and including the 34th day following the expiration of the initial Lock-Up Period, the undersigned
will give notice thereof to the Company and will not consummate any such transaction or take any such action unless it has received written
confirmation from the Company that the Lock-Up Period has expired.

 

If the undersigned is an officer
or director of the Company, (i) the undersigned agrees that the foregoing restrictions shall be equally applicable to any issuer-directed
or “friends and family” Securities that the undersigned may purchase in the Public Offering; (ii) the Representative agrees
that, at least three (3) business days before the effective date of any release or waiver of the foregoing restrictions in connection
with a transfer of Lock-Up Securities, the Representative will notify the Company of the impending release or waiver; and (iii) the Company
has agreed in the Underwriting Agreement to announce the impending release or waiver by press release through a major news service at
least two (2) business days before the effective date of the release or waiver. Any release or waiver granted by the Representative hereunder
to any such officer or director shall only be effective two (2) business days after the publication date of such press release. The provisions
of this paragraph will not apply if (a) the release or waiver is effected solely to permit a transfer of Lock-Up Securities not for consideration
and (b) the transferee has agreed in writing to be bound by the same terms described in this lock-up agreement to the extent and for the
duration that such terms remain in effect at the time of such transfer.

 

    
	iSpecimen Inc.	
	Fifth Amendment to Note Subscription Agreements and Secured Promissory Notes, March 2021
	Page 8

 

     

    

 

The undersigned understands
that the Company and the Representative are relying upon this lock-up agreement in proceeding toward consummation of the Public Offering.
The undersigned further understands that this lock-up agreement is irrevocable and shall be binding upon the undersigned’s heirs,
legal representatives, successors and assigns.

 

The undersigned understands
that, if the Underwriting Agreement is not executed by June 30, 2021, or if the Underwriting Agreement (other than the provisions thereof
which survive termination) shall terminate or be terminated prior to payment for and delivery of the Common Shares to be sold thereunder,
then this lock-up agreement shall be void and of no further force or effect.

 

Whether or not the Public
Offering actually occurs depends on a number of factors, including market conditions. Any Public Offering will only be made pursuant to
an Underwriting Agreement, the terms of which are subject to negotiation between the Company and the Representative.

 

	 	 	NOTEHOLDER
	 	 	 	 
	 	 	By:	                
	 	 	 	 
	 	 	 	 
	 	 	Address:
	 	 	 	 
	Date:	 	 	 

 

    
	iSpecimen Inc.	
	Fifth Amendment to Note Subscription Agreements and Secured Promissory Notes, March 2021
	Page 9Exhibit 10.24 

 

iSpecimen
INC.

AMENDED AND RESTATED

2021 STOCK INCENTIVE PLAN

 

1. Purpose. The purpose
of this 2021 Stock Incentive Plan, as amended from time to time (the “Plan”) of iSpecimen Inc., a Delaware corporation (the
 “Company”), is to advance the interests of the Company’s stockholders by enhancing the Company’s ability to attract,
retain and motivate persons who are expected to make important contributions to the Company and by providing such persons with equity
ownership opportunities and/or performance-based incentives. Except where the context otherwise requires, the term “Company”
shall include any present or future subsidiary corporations of the Company, as defined in Section 424(f) or (f) of the
Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder (the “Code”) (a “Subsidiary”
or “Subsidiaries”) and, for purposes of Awards (as hereinafter defined) other than Incentive Stock Options (as hereinafter
defined), any other business venture (including, without limitation, joint venture or limited liability company) in which the Company
has a direct or indirect significant or controlling interest, as determined by the sole discretion of the Board of Directors of the Company
(the “Board”).

 

2. Definitions. The
following definitions shall be applicable throughout this Plan:

 

(a) “Affiliate”
means (i) any person or entity that directly or indirectly controls, is controlled by or is under common control with the Company
and/or (ii) to the extent provided by the Committee, any person or entity in which the Company has a significant interest as determined
by the Committee in its discretion. The term “control” (including, with correlative meaning, the terms “controlled by”
and “under common control with”), as applied to any person or entity, means the possession, directly or indirectly, of the
power to direct or cause the direction of the management and policies of such person or entity, whether through the ownership of voting
or other securities, by contract or otherwise.

 

(b) “Award”
means, individually or collectively, any Incentive Stock Option, Nonqualified Stock Option, Stock Appreciation Right, Restricted Stock,
Restricted Stock Unit, Stock Bonus Award or Performance Compensation Award granted under this Plan.

 

(c) “Award
Agreement” means an agreement made and delivered in accordance with Section 16(a) of this Plan evidencing the
grant of an Award hereunder.

 

(d) “Board”
shall have the meaning given in Section 1.

 

(e)“Business Day”
means any day other than a Saturday, a Sunday or a day on which banking institutions in Massachusetts are authorized or obligated by federal
law or executive order to be closed.

 

     

     

    

 

(f) “Cause”
means, in the case of a particular Award, unless the applicable Award Agreement states otherwise, (i) the Company or an Affiliate
having “cause” to terminate a Participant’s employment or service, as defined in any employment or consulting agreement
or similar document or policy between the Participant and the Company or an Affiliate in effect at the time of such termination or (ii) in
the absence of any such employment or consulting agreement, document or policy (or the absence of any definition of “Cause”
contained therein), (A) a continuing material breach or material default (including, without limitation, any material dereliction
of duty) by Participant of any agreement between the Participant and the Company, except for any such breach or default which is caused
by the physical disability of the Participant (as determined by a neutral physician), or a continuing failure by the Participant to follow
the direction of a duly authorized representative of the Company; (B) gross negligence, willful misfeasance or breach of fiduciary
duty to the Company or Affiliate of the Company by the Participant; (C) the commission by the Participant of an act of fraud, embezzlement
or any felony or other crime of dishonesty in connection with the Participant’s duties to the Company or Affiliate of the Company;
(D) conviction of the Participant of a felony or any other crime that would materially and adversely affect: (i) the business
reputation of the Company or Affiliate of the Company or (ii) the performance of the Participant’s duties to the Company or
an Affiliate of the Company; (E) gross misconduct by the Participant which results in loss, damage or injury to the Company or an
Affiliate of the Company, their goodwill, business or reputation; (F) the commission of an act which induces any customer or prospective
customer of the Company to breach a contract with the Company or an Affiliate of the Company or to decline to do business with the Company
or an Affiliate; (G) the violation by the Participant, in any material respect, of a non-competition, non-solicitation, non-disclosure
or assignment of inventions covenant between the Participant and the Company or an Affiliate of the Company, which results in harm to
the Company, an Affiliate of the Company, or their customers or suppliers; (H) the engagement, whether directly or indirectly, by
the Participant, during the period of his or her employment, engagement or relationship with the Company or an Affiliate of the Company
for a period of one (1) year after the termination of his or her employment, engagement or relationship (for any reason), in a business
or other commercial activity which is or may be competitive with the business being conducted by the Company or an Affiliate of the Company;
(I)  the solicitation, diversion or taking away by the Participant, or the attempted solicitation, diversion or taking away by the
Participant, whether directly or indirectly, during the period of his or her employment, engagement or relationship with the Company or
an Affiliate of the Company or for a period of one (1) year after the termination of his or her employment, engagement or relationship
(for any reason), of any of the customers, business or prospective customers of the Company or an Affiliate of the Company then in existence
and with whom the Participant had contact or about whom the Participant gained confidential information during the Participant’s
employment, engagement or relationship with the Company or an Affiliate of the Company on behalf of a competitive enterprise (prospective
customer shall mean any person or entity being solicited by the Company or an Affiliate of the Company during the time the Participant
was employed or engaged by the Company or an Affiliate of the Company); (J) the solicitation, recruiting or hiring by the Participant,
or the attempted solicitation, recruiting, or hiring by the Participant, whether directly or indirectly, during the period of his or her
employment or for a period of one (1) year after the termination of his or her employment, engagement or relationship (for any reason),
engagement or relationship with the Company or an Affiliate of the Company, of any employee or consultant of the Company or an Affiliate
of the Company; (K) the use of controlled substances, illicit drugs, alcohol or other substances or behavior which interferes with
the Participant’s ability to perform his or her services for the Company or an Affiliate of the Company or which otherwise results
in loss, damage or injury to the Company or an Affiliate of the Company, their goodwill, business or reputation; or (L) the repeated
failure of the Participant to adequately perform his or her employment, advisory or consulting services, duties and obligations following
a notice of such failure from management or the Board and an inability to cure such failure after thirty (30) days, unless otherwise precluded
by disability. Any determination of whether Cause exists shall be made by the Committee in its sole discretion.

 

(g) “Change
in Control” shall, in the case of a particular Award, unless the applicable Award Agreement states otherwise or contains
a different definition of “Change in Control,” be deemed to occur upon: (a) any merger, business combination, consolidation
or purchase of outstanding capital stock of the Company with or into, or any acquisition by, another entity after which the voting securities
of the Company, outstanding immediately prior thereto, represent (either by remaining outstanding or by being converted into voting securities
of the surviving or acquiring entity) less than 50% of the combined voting power of the voting securities of the Company or such surviving
or acquiring entity outstanding immediately after such event (other than as a result of a financing transaction); (b) any sale or
exchange of all or substantially all of the capital stock or assets of the Company (other than in a spin-off or similar transaction) for
cash, securities or other property pursuant to a share exchange transaction; (c) any other form of business combination or acquisition
of the business of the Company in which the Company is the target of the acquisition, as determined by the Board, whose determination
shall be conclusive; or (d) any liquidation or dissolution of the Company. A Change in Control caused by an increase in the percentage
of stock owned by any one person, or persons acting as a group, as a result of a transaction in which the Company acquires its stock in
exchange for property is not treated as a Change in Control for purposes of the Plan.

 

    2

     

    

 

(h) “Code”
shall have the meaning given in Section 1.

 

(i) “Committee”
means a committee of at least two people as the Board may appoint to administer this Plan or, if no such committee has been appointed
by the Board, the Board. Unless altered by an action of the Board, the Committee shall be the Compensation Committee of the Board.

 

(j) “Common
Stocks” means the common stock, par value $0.0001 per share, of the Company (and any stock or other securities into which
such Common Stocks may be converted or into which they may be exchanged).

 

(k) “Company”
shall have the meaning given in Section 1.

 

(l) “Current
Board Members” means the individuals who, as of the date hereof, constitute the members of the Board.

 

(m) “Date of
Grant” means the date on which the granting of an Award is authorized, or such other date as may be specified in such authorization.

 

(n) “Disability”
means a “permanent and total” disability incurred by a Participant while in the employ or service of the Company or an Affiliate
or as otherwise as determined under procedures established by the Committee for purposes of the Plan. For this purpose, a permanent and
total disability shall mean that the Participant is unable to engage in any substantial gainful activity by reason of any medically determinable
physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than
twelve (12) months. The determination of whether a Participant has incurred a permanent and total disability shall be made by a physician
designated by the Committee, whose determination shall be final and binding.

 

(o) “Effective
Date” means the date as of which this Plan is adopted by the Board, subject to Section 3 of this Plan.

 

(p) “Eligible
Director” means a person who is a “non-employee director” within the meaning of Rule 16b-3 under the Exchange
Act.

 

(q) “Eligible
Person” means any (i) individual employed by the Company or an Affiliate; provided, however, that
no such employee covered by a collective bargaining agreement shall be an Eligible Person unless and to the extent that such eligibility
is set forth in such collective bargaining agreement or in an agreement or instrument relating thereto; (ii) director of the Company
or an Affiliate; or (iii) consultant or advisor to the Company or an Affiliate, provided that if the Securities Act applies such
persons must be eligible to be offered securities registrable on Form S-8 under the Securities Act.

 

    3

     

    

 

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

 

(s) “Exercise
Price” has the meaning given such term in Section 7(b) of this Plan.

 

(t) “Fair Market
Value”, unless otherwise provided by the Committee in accordance with all applicable laws, rules regulations and standards,
means, on a given date, (i) if the Common Stocks are listed on a national securities exchange, the closing sales price on the principal
exchange of the Common Stocks on such date or, in the absence of reported sales on such date, the closing sales price on the immediately
preceding date on which sales were reported, or (ii) if the Common Stocks are not listed on a national securities exchange, the mean
between the bid and offered prices as quoted by any nationally recognized interdealer quotation system for such date, provided that if
the Common Stocks are not quoted on an interdealer quotation system or it is determined that the fair market value is not properly reflected
by such quotations, Fair Market Value will be determined by such other method as the Committee determines in good faith to be reasonable
and in compliance with Code Section 409A.

 

(u) “Immediate
Family Members” shall have the meaning set forth in Section 16(b) of this Plan.

 

(v) “Incentive
Stock Option” means an Option that is designated by the Committee as an incentive stock option as described in Section 422
of the Code and otherwise meets the requirements set forth in this Plan.

 

(w) “Indemnifiable
Person” shall have the meaning set forth in Section 4(e) of this Plan.

 

(x) “Negative
Discretion” shall mean the discretion authorized by this Plan to be applied by the Committee to eliminate or reduce the
size of a Performance Compensation Award consistent with Section 162(m) of the Code.

 

(y) “Nonqualified
Stock Option” means an Option that is not designated by the Committee as an Incentive Stock Option.

 

(z) “Option”
means an Award granted under Section 7 of this Plan.

 

(aa) “Option Period”
has the meaning given such term in Section 7(c) of this Plan.

 

(ab) “Participant”
means an Eligible Person who has been selected by the Committee to participate in this Plan and to receive an Award pursuant to Section 6
of this Plan.

 

(ac) “Performance
Compensation Award” shall mean any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11
of this Plan.

 

(ad) “Performance
Criteria” shall mean the criterion or criteria that the Committee shall select for purposes of establishing the Performance
Goal(s) for a Performance Period with respect to any Performance Compensation Award under this Plan.

 

    4

     

    

 

(ae) “Performance
Formula” shall mean, for a Performance Period, the one or more objective formulae applied against the relevant Performance
Goal to determine, with regard to the Performance Compensation Award of a particular Participant, whether all, some portion but less than
all, or none of the Performance Compensation Award has been earned for the Performance Period.

 

(af) “Performance
Goals” shall mean, for a Performance Period, the one or more goals established by the Committee for the Performance Period
based upon the Performance Criteria.

 

(ag) “Performance
Period” shall mean the one or more periods of time, as the Committee may select, over which the attainment of one or more
Performance Goals will be measured for the purpose of determining a Participant’s right to, and the payment of, a Performance Compensation
Award.

 

(ah) “Permitted
Transferee” shall have the meaning set forth in Section 16(b) of this Plan.

 

(ai) “Person”
has the meaning given such term in the definition of “Change in Control.”

 

(aj) “Plan”
means this iSpecimen Inc. 2021 Stock Incentive Plan, as amended from time to time.

 

(ak) “Repurchase
Period” shall have the meaning set forth in Section 15(a) of this Plan.

 

(al) “Repurchase
Option” shall have the meaning set forth in Section 15(a) of this Plan.

 

(am) “Retirement”
means the fulfillment of each of the following conditions: (i) the Participant is in good standing with the Company and/or an Affiliate
of the Company as determined by the Committee; (ii) the voluntary termination by a Participant of such Participant’s employment
or service to the Company and/or an Affiliate and (iii) that at the time of such voluntary termination, the sum of: (A) the
Participant’s age (calculated to the nearest month, with any resulting fraction of a year being calculated as the number of months
in the year divided by 12) and (B) the Participant’s years of employment or service with the Company (calculated to the nearest
month, with any resulting fraction of a year being calculated as the number of months in the year divided by 12) equals at least 62 (provided
that, in any case, the foregoing shall only be applicable if, at the time of such Retirement, the Participant shall be at least 55 years
of age and shall have been employed by or served with the Company for no less than five years).

 

(an) “Restricted
Period” means the period of time determined by the Committee during which an Award is subject to restrictions or, as applicable,
the period of time within which performance is measured for purposes of determining whether an Award has been earned.

 

(ao) “Restricted
Stock Unit” means an unfunded and unsecured promise to deliver Common Stocks, cash, other securities or other property,
subject to certain restrictions (including, without limitation, a requirement that the Participant remain continuously employed or provide
continuous services for a specified period of time), granted under Section 9 of this Plan.

 

    5

     

    

 

(ap) “Restricted
Stock” means Common Stocks, subject to certain specified restrictions (including, without limitation, a requirement that
the Participant remain continuously employed or provide continuous services for a specified period of time), granted under Section 9
of this Plan.

 

(aq) “SAR Period”
has the meaning given such term in Section 8(c) of this Plan.

 

(ar) “Securities
Act” means the Securities Act of 1933, as amended, and any successor thereto. Reference in this Plan to any section of the
Securities Act shall be deemed to include any rules, regulations or other official interpretative guidance issued by any governmental
authority under such section, and any amendments or successor provisions to such section, rules, regulations or guidance.

 

(as) “Stock Appreciation
Right” or “SAR” means an Award granted under Section 8 of this Plan which meets all of the
requirements of Section 1.409A-1(b)(5)(i)(B) of the Treasury Regulations.

 

(at) “Stock Bonus
Award” means an Award granted under Section 10 of this Plan.

 

(au) “Strike Price”
means, except as otherwise provided by the Committee in the case of Substitute Awards, (i) in the case of a SAR granted in tandem
with an Option, the Exercise Price of the related Option, or (ii) in the case of a SAR granted independent of an Option, the Fair
Market Value of Common Stocks on the Date of Grant.

 

(av) “Subsidiary”
shall have the meaning given in Section 1.

 

(aw) “Substitute
Award” has the meaning given such term in Section 5(e).

 

(ax) “Treasury Regulations”
means any regulations, whether proposed, temporary or final, promulgated by the U.S. Department of Treasury under the Code, and any successor
provisions.

 

3. Effective Date; Duration.
The Plan shall be effective on [•], 2021, the date on which it is approved by the stockholders of the Company, which date shall be
within twelve (12) months before or after the date of the Plan’s adoption by the Board. The expiration date of this Plan, on and
after which date no Awards may be granted hereunder, shall be [•], 2031, the tenth anniversary of the date on which the Plan was
approved by the stockholders of the Company; provided, however, that such expiration shall not affect Awards then
outstanding, and the terms and conditions of this Plan shall continue to apply to such Awards.

 

4. Administration.

 

(a) The Committee shall
administer this Plan. To the extent required to comply with the provisions of Rule 16b-3 promulgated under the Exchange Act (if
the Board is not acting as the Committee under this Plan), it is intended that each member of the Committee shall, at the time he takes
any action with respect to an Award under this Plan, be an Eligible Director. However, the fact that a Committee member shall fail to
qualify as an Eligible Director shall not invalidate any Award granted by the Committee that is otherwise validly granted under this
Plan. The acts of a majority of the members present at any meeting at which a quorum is present or acts approved in writing by a majority
of the Committee shall be deemed the acts of the Committee. Whether a quorum is present shall be determined based on the Committee’s
charter as approved by the Board.

 

    6

     

    

 

(b) Subject to the provisions
of this Plan and applicable law, the Committee shall have the sole and plenary authority, in addition to other express powers and authorizations
conferred on the Committee by this Plan and its charter, to: (i) designate Participants; (ii) determine the type or types of
Awards to be granted to a Participant; (iii) determine the number of Common Stocks to be covered by, or with respect to which payments,
rights, or other matters are to be calculated in connection with, Awards; (iv) determine the terms and conditions of any Award; (v) determine
whether, to what extent, and under what circumstances Awards may be settled or exercised in cash, Common Stocks, other securities, other
Awards or other property, or canceled, forfeited, or suspended, and the method or methods by which Awards may be settled, exercised, canceled,
forfeited, or suspended; (vi) determine whether, to what extent, and under what circumstances the delivery of cash, Common Stocks,
other securities, other Awards or other property and other amounts payable with respect to an Award shall be made; (vii) interpret,
administer, reconcile any inconsistency in, settle any controversy regarding, correct any defect in and/or complete any omission in this
Plan and any instrument or agreement relating to, or Award granted under, this Plan; (viii) establish, amend, suspend, or waive any
rules and regulations and appoint such agents as the Committee shall deem appropriate for the proper administration of this Plan;
(ix) accelerate the vesting or exercisability of, payment for or lapse of restrictions on, Awards; (x) to reprice existing Awards
or to grant Awards in connection with or in consideration of the cancellation of an outstanding Award with a higher price; and (xi) make
any other determination and take any other action that the Committee deems necessary or desirable for the administration of this Plan.

 

(c) The Committee may,
by resolution, expressly delegate to a special committee, consisting of one or more directors who may but need not be officers of the
Company, the authority, within specified parameters as to the number and types of Awards, to (i) designate officers and/or employees
of the Company or any of its Affiliates to be recipients of Awards under this Plan, and (ii) to determine the number of such Awards
to be received by any such Participants; provided, however, that such delegation of duties and responsibilities may not be made with respect
to grants of Awards to persons (i) subject to Section 16 of the Exchange Act or (ii) who are, or who are reasonably expected
to be, “covered employees” for purposes of Section 162(m) of the Code. The acts of such delegates shall be treated
as acts of the Committee, and such delegates shall report regularly to the Board and the Committee regarding the delegated duties and
responsibilities and any Awards granted.

 

(d) Unless otherwise expressly
provided in this Plan, all designations, determinations, interpretations, and other decisions under or with respect to this Plan or any
Award or any documents evidencing Awards granted pursuant to this Plan shall be within the sole discretion of the Committee, may be made
at any time and shall be final, conclusive and binding upon all persons or entities, including, without limitation, the Company, any Affiliate,
any Participant, any holder or beneficiary of any Award, and any stockholder of the Company.

 

(e) No member of the Board,
the Committee, delegate of the Committee or any employee, advisor or agent of the Company or the Board or the Committee (each such person,
an “Indemnifiable Person”) shall be liable for any action taken or omitted to be taken or any determination
made in good faith with respect to this Plan or any Award hereunder. Each Indemnifiable Person shall be indemnified and held harmless
by the Company against and from (and the Company shall pay or reimburse on demand for) any loss, cost, liability, or expense (including
court costs and attorneys’ fees) that may be imposed upon or incurred by such Indemnifiable Person in connection with or resulting
from any action, suit or proceeding to which such Indemnifiable Person may be a party or in which such Indemnifiable Person may be involved
by reason of any action taken or omitted to be taken under this Plan or any Award Agreement and against and from any and all amounts paid
by such Indemnifiable Person with the Company’s approval, in settlement thereof, or paid by such Indemnifiable Person in satisfaction
of any judgment in any such action, suit or proceeding against such Indemnifiable Person, provided, that the Company shall have
the right, at its own expense, to assume and defend any such action, suit or proceeding and once the Company gives notice of its intent
to assume the defense, the Company shall have sole control over such defense with counsel of the Company’s choice. The foregoing
right of indemnification shall not be available to an Indemnifiable Person to the extent that a final judgment or other final adjudication
(in either case not subject to further appeal) binding upon such Indemnifiable Person determines that the acts or omissions of such Indemnifiable
Person giving rise to the indemnification claim resulted from such Indemnifiable Person’s bad faith, fraud or willful criminal act
or omission or that such right of indemnification is otherwise prohibited by law or by the Company’s Certificate of Incorporation
or Bylaws. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which any such Indemnifiable
Person may be entitled under the Company’s Certificate of Incorporation or Bylaws, as a matter of law, or otherwise, or any other
power that the Company may have to indemnify such Indemnifiable Persons or hold them harmless.

 

    7

     

    

 

(f) Notwithstanding anything
to the contrary contained in this Plan, the Board may, in its sole discretion, at any time and from time to time, grant Awards and administer
this Plan with respect to such Awards. In any such case, the Board shall have all the authority granted to the Committee under this Plan.

 

5. Grant of Awards; Shares
Subject to this Plan; Limitations.

 

(a) The Committee may,
from time to time, grant Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Stock Bonus Awards and/or Performance
Compensation Awards to one or more Eligible Persons.

 

(b) Subject to Section 12
of this Plan, the Committee is authorized to deliver under this Plan an aggregate of [•] Common Stocks, plus an annual increase on
each anniversary of the Effective Date thereafter while this Plan is in effect so that the aggregate amount of shares of Common Stock
the Committee is authorized to deliver under this Plan equals to 5% of the total issued and outstanding number of Common Stocks as of
such anniversary (or such lesser number of Common Stocks as may be determined by the Committee).

 

(c) Common Stocks underlying
Awards under this Plan that are forfeited, cancelled, expire unexercised, or are settled in cash shall be available again for Awards under
this Plan at the same ratio at which they were previously granted. Notwithstanding the foregoing, the following Common Stocks shall not
be available again for Awards under the Plan: (i) shares tendered or held back upon the exercise of an Option or settlement of an
Award to cover the Exercise Price of an Award; (ii) shares that are used or withheld to satisfy tax withholding obligations of the
Participant; and (iii) shares subject to a Stock Appreciation Right that are not issued in connection with the stock settlement of
the SAR upon exercise thereof.

 

(d) Common Stocks delivered
by the Company in settlement of Awards may be authorized and unissued shares, shares held in the treasury of the Company, shares purchased
on the open market or by private purchase, or any combination of the foregoing.

 

    8

     

    

 

(e) Subject to compliance
with Section 1.409A-3(f) of the Treasury Regulations, Awards may, in the sole discretion of the Committee, be granted under
this Plan in assumption of, or in substitution for, outstanding awards previously granted by an entity acquired by the Company or with
which the Company combines (“Substitute Awards”). The number of Common Stocks underlying any Substitute Awards
shall be counted against the aggregate number of Common Stocks available for Awards under this Plan.

 

(f) Notwithstanding any
provision in the Plan to the contrary (but subject to adjustment as provided in Section 12), the Committee shall not grant to any
one Eligible Person in any one calendar year Awards (i) for more than 50% of the Available Shares in the aggregate or (ii) payable
in cash in an amount exceeding $10,000,000 in the aggregate.

 

6. Eligibility. Participation
shall be limited to Eligible Persons who have entered into an Award Agreement or who have received written notification from the Committee,
or from a person designated by the Committee, that they have been selected to participate in this Plan.

 

7. Options.

 

(a) Generally.
Each Option granted under this Plan shall be evidenced by an Award Agreement (whether in paper or electronic medium (including email or
the posting on a web site maintained by the Company or a third party under contract with the Company)). Each Option so granted shall be
subject to the conditions set forth in this Section 7, and to such other conditions not inconsistent with this Plan as may be reflected
in the applicable Award Agreement. All Options granted under this Plan shall be Nonqualified Stock Options unless the applicable Award
Agreement expressly states that the Option is intended to be an Incentive Stock Option. Notwithstanding any designation of an Option,
to the extent that the aggregate Fair Market Value of Common Stocks with respect to which Options designated as Incentive Stock Options
are exercisable for the first time by any Participant during any calendar year (under all plans of the Company or any Subsidiary) exceeds
$100,000, such excess Options shall be treated as Nonqualified Stock Options. Incentive Stock Options shall be granted only to Eligible
Persons who are employees of the Company and its Affiliates, and no Incentive Stock Option shall be granted to any Eligible Person who
is ineligible to receive an Incentive Stock Option under the Code. No Option shall be treated as an Incentive Stock Option unless this
Plan has been approved by the stockholders of the Company in a manner intended to comply with the stockholder approval requirements of
Section 422(b)(1) of the Code, provided that any Option intended to be an Incentive Stock Option shall not fail to be effective
solely on account of a failure to obtain such approval, but rather such Option shall be treated as a Nonqualified Stock Option unless
and until such approval is obtained. In the case of an Incentive Stock Option, the terms and conditions of such grant shall be subject
to and comply with such rules as may be prescribed by Section 422 of the Code. If for any reason an Option intended to be an
Incentive Stock Option (or any portion thereof) shall not qualify as an Incentive Stock Option, then, to the extent of such nonqualification,
such Option or portion thereof shall be regarded as a Nonqualified Stock Option appropriately granted under this Plan.

 

(b) Exercise Price.
The exercise price (“Exercise Price”) per Common Stock for each Option shall not be less than 100% of the Fair
Market Value of such share determined as of the Date of Grant; provided, however, that in the case of an Incentive Stock Option
granted to an employee who, at the time of the grant of such Option, owns shares representing more than 10% of the voting power of all
classes of shares of the Company or any Affiliate, the Exercise Price per share shall not be less than 110% of the Fair Market Value per
share on the Date of Grant; and, provided further, that notwithstanding any provision herein to the contrary, the Exercise Price
shall not be less than the par value per Common Stock.

 

    9

     

    

 

(c) Vesting and Expiration.
Options shall vest and become exercisable in such manner and on such date or dates determined by the Committee and as set forth in the
applicable Award Agreement, and shall expire after such period, not to exceed ten (10) years from the Date of Grant, as may be determined
by the Committee (the “Option Period”); provided, however, that the Option Period shall
not exceed five (5) years from the Date of Grant in the case of an Incentive Stock Option granted to a Participant who on the Date
of Grant owns shares representing more than 10% of the voting power of all classes of shares of the Company or any Affiliate; and,
provided, further, that notwithstanding any vesting dates set by the Committee, the Committee may, in its sole discretion,
accelerate the exercisability of any Option, which acceleration shall not affect the terms and conditions of such Option other than with
respect to exercisability. Unless otherwise provided by the Committee in an Award Agreement:

 

(i) an Option shall vest
and become exercisable with respect to 100% of the Common Stocks subject to such Option on each anniversary of the Date of Grant;

 

(ii) the unvested portion
of an Option shall expire upon termination of employment or service of the Participant granted the Option, and the vested portion of such
Option shall remain exercisable for:

 

(A) one year following
termination of employment or service by reason of such Participant’s death or Disability (with the determination of Disability to
be made by the Committee on a case by case basis), but not later than the expiration of the Option Period;

 

(B) for directors, officers
and employees of the Company only, for ninety (90) days following termination of employment or service by reason of such Participant’s
Retirement;

 

(C) 90 calendar days following
termination of employment or service for any reason other than such Participant’s death, Disability or Retirement, and other than
such Participant’s termination of employment or service for Cause, but not later than the expiration of the Option Period; and

 

(iii) both the unvested
and the vested portion of an Option shall immediately expire upon the termination of the Participant’s employment or service by
the Company for Cause. Notwithstanding the foregoing provisions of Section 7(c) and consistent with the requirements of applicable
law, the Committee, in its sole discretion, may extend the post-termination of employment period during which a Participant may exercise
vested Options.

 

(d) Method of Exercise
and Form of Payment. No Common Stocks shall be delivered pursuant to the exercise of an Option until payment in full of the
Exercise Price therefor is received by the Company and the Participant has paid to the Company an amount equal to any federal, state,
local and/or foreign income and employment taxes required to be withheld. Options that have become exercisable may be exercised by delivery
of written or electronic notice of exercise to the Company in accordance with the terms of the Award Agreement accompanied by payment
of the Exercise Price. The Exercise Price shall be payable (i) in cash, check (subject to collection), cash equivalent and/or vested
Common Stocks valued at the Fair Market Value at the time the Option is exercised (including, pursuant to procedures approved by the Committee,
by means of attestation of ownership of a sufficient number of Common Stocks in lieu of actual delivery of such shares to the Company);
provided, however, that such Common Stocks are not subject to any pledge or other security interest and; (ii) by such
other method as the Committee may permit in accordance with applicable law, in its sole discretion, including without limitation: (A) in
other property having a fair market value (as determined by the Committee in its discretion) on the date of exercise equal to the Exercise
Price or (B) if there is a public market for the Common Stocks at such time, by means of a broker-assisted “cashless exercise”
pursuant to which the Company is delivered a copy of irrevocable instructions to a stockbroker to sell the Common Stocks otherwise deliverable
upon the exercise of the Option and to deliver promptly to the Company an amount equal to the Exercise Price or (C) by a “net
exercise” method whereby the Company withholds from the delivery of the Common Stocks for which the Option was exercised that number
of Common Stocks having a Fair Market Value equal to the aggregate Exercise Price for the Common Stocks for which the Option was exercised.
Any fractional Common Stocks shall be settled in cash.

 

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(e) Notification
upon Disqualifying Disposition of an Incentive Stock Option. Each Participant awarded an Incentive Stock Option under this Plan
shall notify the Company in writing immediately after the date he makes a disqualifying disposition of any Common Stocks acquired pursuant
to the exercise of such Incentive Stock Option. A disqualifying disposition is any disposition (including, without limitation, any sale)
of such Common Stocks before the later of (A) two years after the Date of Grant of the Incentive Stock Option or (B) one year
after the date of exercise of the Incentive Stock Option. The Company may, if determined by the Committee and in accordance with procedures
established by the Committee, retain possession of any Common Stocks acquired pursuant to the exercise of an Incentive Stock Option as
agent for the applicable Participant until the end of the period described in the preceding sentence.

 

(f) Compliance with
Laws, etc. Notwithstanding the foregoing, in no event shall a Participant be permitted to exercise an Option in a manner
that the Committee determines would violate the Sarbanes-Oxley Act of 2002, if applicable, or any other applicable law or the applicable
rules and regulations of the Securities and Exchange Commission or the applicable rules and regulations of any securities exchange
or inter-dealer quotation system on which the securities of the Company are listed or traded.

 

8. Stock Appreciation Rights.

 

(a)Generally.
Each SAR granted under this Plan shall be evidenced by an Award Agreement (whether in paper or electronic medium (including email or the
posting on a web site maintained by the Company or a third party under contract with the Company)). Each SAR so granted shall be subject
to the conditions set forth in this Section 8, and to such other conditions not inconsistent with this Plan as may be reflected in
the applicable Award Agreement. Any Option granted under this Plan may include tandem SARs (i.e., SARs granted in conjunction with an
Award of Options under this Plan). The Committee also may award SARs to Eligible Persons independent of any Option.

 

(b) Exercise Price.
The Exercise Price per Common Stock for each Option granted in connection with a SAR shall not be less than 100% of the Fair Market Value
of such share determined as of the Date of Grant.

 

(c) Vesting and Expiration.
A SAR granted in connection with an Option shall become exercisable and shall expire according to the same vesting schedule and expiration
provisions as the corresponding Option. A SAR granted independent of an Option shall vest and become exercisable and shall expire in such
manner and on such date or dates determined by the Committee and shall expire after such period, not to exceed ten years, as may be determined
by the Committee (the “SAR Period”); provided, however, that notwithstanding any vesting dates set by
the Committee, the Committee may, in its sole discretion, accelerate the exercisability of any SAR, which acceleration shall not affect
the terms and conditions of such SAR other than with respect to exercisability. Unless otherwise provided by the Committee in an Award
Agreement:

 

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(i) a SAR shall vest
and become exercisable with respect to 100% of the Common Stocks subject to such SAR on the third anniversary of the Date of Grant;

 

(ii) the unvested portion
of a SAR shall expire upon termination of employment or service of the Participant granted the SAR, and the vested portion of such SAR
shall remain exercisable for:

 

(A) one year following
termination of employment or service by reason of such Participant’s death or Disability (with the determination of Disability to
be made by the Committee on a case by case basis), but not later than the expiration of the SAR Period;

 

(B) for directors, officers
and employees of the Company only, for the remainder of the SAR Period following termination of employment or service by reason of such
Participant’s Retirement;

 

(C) 90 calendar days following
termination of employment or service for any reason other than such Participant’s death, Disability or Retirement, and other than
such Participant’s termination of employment or service for Cause, but not later than the expiration of the SAR Period; and

 

(iii) both the unvested
and the vested portion of a SAR shall expire immediately upon the termination of the Participant’s employment or service by the
Company for Cause.

 

(d) Method of Exercise.
SARs that have become exercisable may be exercised by delivery of written or electronic notice of exercise to the Company in accordance
with the terms of the Award, specifying the number of SARs to be exercised and the date on which such SARs were awarded. Notwithstanding
the foregoing, if on the last day of the Option Period (or in the case of a SAR independent of an Option, the SAR Period), the Fair Market
Value exceeds the Strike Price, the Participant has not exercised the SAR or the corresponding Option (if applicable), and neither the
SAR nor the corresponding Option (if applicable) has expired, such SAR shall be deemed to have been exercised by the Participant on such
last day and the Company shall make the appropriate payment therefor.

 

(e) Payment.
Upon the exercise of a SAR, the Company shall pay to the Participant an amount equal to the number of Common Stocks subject to the SAR
that are being exercised multiplied by the excess, if any, of the Fair Market Value of one Common Stock on the exercise date over the
Strike Price, less an amount equal to any federal, state, local and non-U.S. income and employment taxes required to be withheld. The
Company shall pay such amount in cash, in Common Stocks valued at Fair Market Value, or any combination thereof, as determined by the
Committee. Any fractional Common Stock shall be settled in cash.

 

9. Restricted Stock and
Restricted Stock Units.

 

(a) Generally.
Each grant of Restricted Stock and Restricted Stock Units shall be evidenced by an Award Agreement (whether in paper or electronic medium
(including email or the posting on a web site maintained by the Company or a third party under contract with the Company)). Each such
grant shall be subject to the conditions set forth in this Section 9, and to such other conditions not inconsistent with this Plan
as may be reflected in the applicable Award Agreement. Restricted Stock and Restricted Stock Units shall be subject to such restrictions
on transferability and other restrictions as the Committee may impose (including, for example, 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,
under such circumstances, in such installments, upon the satisfaction of Performance Goals or otherwise, as the Committee determines at
the time of the grant of an Award or thereafter. Except as otherwise provided in an Award Agreement, a Participant shall have none of
the rights of a stockholder with respect to Restricted Stock Units until such time as Common Stocks are paid in settlement of such Awards.

 

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(b) Restricted Accounts;
Escrow or Similar Arrangement. Unless otherwise determined by the Committee, upon the grant of Restricted Stock, a book entry
in a restricted account shall be established in the Participant’s name at the Company’s transfer agent and, if the Committee
determines that the Restricted Stock shall be held by the Company or in escrow rather than held in such restricted account pending the
release of the applicable restrictions, the Committee may require the Participant to additionally execute and deliver to the Company (i) an
escrow agreement satisfactory to the Committee, if applicable, and (ii) the appropriate share power (endorsed in blank) with respect
to the Restricted Stock covered by such agreement. If a Participant shall fail to execute an agreement evidencing an Award of Restricted
Stock and, if applicable, an escrow agreement and blank share power within the amount of time specified by the Committee, the Award shall
be null and void ab initio. Subject to the restrictions set forth in this Section 9 and the applicable Award Agreement, the
Participant generally shall have the rights and privileges of a stockholder as to such Restricted Stock, including without limitation
the right to vote such Restricted Stock and the right to receive dividends, if applicable. To the extent shares of Restricted Stock are
forfeited, any share certificates issued to the Participant evidencing such shares shall be returned to the Company, and all rights of
the Participant to such shares and as a stockholder with respect thereto shall terminate without further obligation on the part of the
Company.

 

(c) Vesting; Acceleration
of Lapse of Restrictions. Unless otherwise provided by the Committee in an Award Agreement: (i) the Restricted Period shall
lapse with respect to 100% of the Restricted Stock and Restricted Stock Units on the first anniversary of the Date of Grant; and (ii) the
unvested portion of Restricted Stock and Restricted Stock Units shall terminate and be forfeited upon the termination of employment or
service of the Participant granted the applicable Award.

 

(d) Delivery of Restricted
Stock and Settlement of Restricted Stock Units.

 

(i) Upon the expiration
of the Restricted Period with respect to any shares of Restricted Stock, the restrictions set forth in the applicable Award Agreement
shall be of no further force or effect with respect to such shares, except as set forth in the applicable Award Agreement. If an escrow
arrangement is used, upon such expiration, the Company shall deliver to the Participant, or his beneficiary, without charge, the share
certificate evidencing the shares of Restricted Stock that have not then been forfeited and with respect to which the Restricted Period
has expired (rounded down to the nearest full share). Dividends, if any, that may have been withheld by the Committee and attributable
to any particular share of Restricted Stock shall be distributed to the Participant in cash or, at the sole discretion of the Committee,
in shares of Common Stock having a Fair Market Value equal to the amount of such dividends, upon the release of restrictions on such shares
of Restricted Stock and, if such shares of Restricted Stock are forfeited, the Participant shall have no right to such dividends (except
as otherwise set forth by the Committee in the applicable Award Agreement).

 

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(ii) Unless otherwise
provided by the Committee in an Award Agreement, upon the expiration of the Restricted Period with respect to any outstanding Restricted
Stock Units, the Company shall deliver to the Participant, or his beneficiary, without charge, one Common Stock for each such outstanding
Restricted Stock Unit; provided, however, that the Committee may, in its sole discretion and subject to the requirements
of Section 409A of the Code, elect to (i) pay cash or part cash and part Common Stock in lieu of delivering only Common Stocks
in respect of such Restricted Stock Units or (ii) defer the delivery of Common Stocks (or cash or part Common Stocks and part cash,
as the case may be) beyond the expiration of the Restricted Period if such delivery would result in a violation of applicable law until
such time as is no longer the case. If a cash payment is made in lieu of delivering Common Stocks, the amount of such payment shall be
equal to the Fair Market Value of the Common Stocks as of the date on which the Restricted Period lapsed with respect to such Restricted
Stock Units, less an amount equal to any federal, state, local and non-U.S. income and employment taxes required to be withheld.

 

10. Stock Bonus Awards.
The Committee may issue unrestricted Common Stocks, or other Awards denominated in Common Stocks, under this Plan to Eligible Persons,
either alone or in tandem with other awards, in such amounts as the Committee shall from time to time in its sole discretion determine.
Each Stock Bonus Award granted under this Plan shall be evidenced by an Award Agreement (whether in paper or electronic medium (including
email or the posting on a web site maintained by the Company or a third party under contract with the Company)). Each Stock Bonus Award
so granted shall be subject to such conditions not inconsistent with this Plan as may be reflected in the applicable Award Agreement.

 

11. Performance Compensation
Awards.

 

(a) Discretion of
Committee with Respect to Performance Compensation Awards. With regard to a particular Performance Period, the Committee shall
have sole discretion to select the length of such Performance Period, the type(s) of Performance Compensation Awards to be issued,
the Performance Criteria that will be used to establish the Performance Goal(s), the kind(s) and/or level(s) of the Performance
Goals(s) that is (are) to apply and the Performance Formula. Within the first 90 calendar days of a Performance Period, the Committee
shall, with regard to the Performance Compensation Awards to be issued for such Performance Period, exercise its discretion with respect
to each of the matters enumerated in the immediately preceding sentence and record the same in writing.

 

(c) Performance Criteria.
The Performance Criteria that will be used to establish the Performance Goal(s) shall be based on the attainment of specific levels
of performance of the Company and/or one or more Affiliates, divisions or operational units, or any combination of the foregoing, as determined
by the Committee, which criteria may be based on one or more of the following business criteria: (i) revenue; (ii) sales; (iii) profit
(net profit, gross profit, operating profit, economic profit, profit margins or other corporate profit measures); (iv) earnings (EBIT,
EBITDA, earnings per share, or other corporate earnings measures); (v) net income (before or after taxes, operating income or other
income measures); (vi) cash (cash flow, cash generation or other cash measures); (vii) stock price or performance; (viii) total
stockholder return (stock price appreciation plus reinvested dividends divided by beginning share price); (ix) economic value added;
(x) return measures (including, but not limited to, return on assets, capital, equity, investments or sales, and cash flow return
on assets, capital, equity, or sales); (xi) market share; (xii) improvements in capital structure; (xiii) expenses (expense
management, expense ratio, expense efficiency ratios or other expense measures); (xiv) business expansion or consolidation (acquisitions
and divestitures); (xv) internal rate of return or increase in net present value; (xvi) working capital targets relating to
inventory and/or accounts receivable; (xvii) inventory management; (xviii) service or product delivery or quality; (xix) customer
satisfaction; (xx) employee retention; (xxi) safety standards; (xxii) productivity measures; (xxiii) cost reduction
measures; and/or (xxiv) strategic plan development and implementation. Any one or more of the Performance Criteria adopted by the
Committee may be used on an absolute or relative basis to measure the performance of the Company and/or one or more Affiliates as a whole
or any business unit(s) of the Company and/or one or more Affiliates or any combination thereof, as the Committee may deem appropriate,
or any of the above Performance Criteria may be compared to the performance of a selected group of comparison companies, or a published
or special index that the Committee, in its sole discretion, deems appropriate, or as compared to various stock market indices. The Committee
also has the authority to provide for accelerated vesting of any Award based on the achievement of Performance Goals pursuant to the Performance
Criteria specified in this paragraph.

 

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(d) Modification
of Performance Goal(s). In the event that applicable tax and/or securities laws change to permit Committee discretion to alter
the governing Performance Criteria without obtaining stockholder approval of such alterations, the Committee shall have sole discretion
to make such alterations without obtaining stockholder approval. The Committee is authorized at any time during the first 90 calendar
days of a Performance Period in its sole discretion, to adjust or modify the calculation of a Performance Goal for such Performance Period,
based on and in order to appropriately reflect the following events: (i) asset write-downs; (ii) litigation or claim judgments
or settlements; (iii) the effect of changes in tax laws, accounting principles, or other laws or regulatory rules affecting
reported results; (iv) any reorganization and restructuring programs; (v) extraordinary nonrecurring items as described in Accounting
Principles Board Opinion No. 30 (or any successor pronouncement thereto) and/or in management’s discussion and analysis of
financial condition and results of operations appearing in the Company’s annual report to stockholders for the applicable year;
(vi) acquisitions or divestitures; (vii) any other specific unusual or nonrecurring events, or objectively determinable category
thereof; (viii) foreign exchange gains and losses; and (ix) a change in the Company’s fiscal year.

 

(e) Payment of Performance
Compensation Awards.

 

(f)

 

(i) Condition to
Receipt of Payment. Unless otherwise provided in the applicable Award Agreement, a Participant must be employed by, or in service
to, the Company on the last day of a Performance Period to be eligible for payment in respect of a Performance Compensation Award for
such Performance Period.

 

(ii) Limitation.
A Participant shall be eligible to receive payment in respect of a Performance Compensation Award only to the extent that: (A) the
Performance Goals for such period are achieved; and (B) all or some of the portion of such Participant’s Performance Compensation
Award has been earned for the Performance Period based on the application of the Performance Formula to such achieved Performance Goals.

 

(iii) Certification.
Following the completion of a Performance Period, the Committee shall review and certify in writing whether, and to what extent, the Performance
Goals for the Performance Period have been achieved and, if so, calculate and certify in writing that amount of the Performance Compensation
Awards earned for the period based upon the Performance Formula. The Committee shall then determine the amount of each Participant’s
Performance Compensation Award actually payable for the Performance Period and, in so doing, may apply Negative Discretion.

 

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(iv) Use of Negative
Discretion. In determining the actual amount of an individual Participant’s Performance Compensation Award for a Performance
Period, the Committee may reduce or eliminate the amount of the Performance Compensation Award earned under the Performance Formula in
the Performance Period through the use of Negative Discretion if, in its sole judgment, such reduction or elimination is appropriate.
The Committee shall not have the discretion, except as is otherwise provided in this Plan, to (A) grant or provide payment in respect
of Performance Compensation Awards for a Performance Period if the Performance Goals for such Performance Period have not been attained;
or (B) increase a Performance Compensation Award above the applicable limitations set forth in Section 5 of this Plan.

 

(f) Timing of Award
Payments. Performance Compensation Awards granted for a Performance Period shall be paid to Participants as soon as administratively
practicable following completion of the certifications required by this Section 11, but in no event later than two-and-one-half months
following the end of the fiscal year during which the Performance Period is completed in order to comply with the short-term deferral
rules under Section 1.409A-1(b)(4) of the Treasury Regulations. Notwithstanding the foregoing, payment of a Performance
Compensation Award may be delayed, as permitted by Section 1.409A-2(b)(7)(i) of the Treasury Regulations, to the extent that
the Company reasonably anticipates that if such payment were made as scheduled, the Company’s tax deduction with respect to such
payment would not be permitted due to the application of Section 162(m) of the Code.

 

12. Changes in Capital
Structure and Similar Events. In the event of (a) any dividend or other distribution (whether in the form of cash, Common Stocks,
other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, amalgamation, consolidation,
split-up, split-off, combination, repurchase or exchange of Common Stocks or other securities of the Company, issuance of warrants or
other rights to acquire Common Stocks or other securities of the Company, or other similar corporate transaction or event (including,
without limitation, a Change in Control) that affects the Common Stocks, or (b) unusual or nonrecurring events (including, without
limitation, a Change in Control) affecting the Company, any Affiliate, or the financial statements of the Company or any Affiliate, or
changes in applicable rules, rulings, regulations or other requirements of any governmental body or securities exchange or inter-dealer
quotation system, accounting principles or law, such that in either case an adjustment is determined by the Committee in its sole discretion
to be necessary or appropriate in order to prevent dilution or enlargement of rights, then the Committee shall make any such adjustments
that are equitable, including without limitation any or all of the following:

 

(i) adjusting any or
all of (A) the number of Common Stocks or other securities of the Company (or number and kind of other securities or other property)
that may be delivered in respect of Awards or with respect to which Awards may be granted under this Plan (including, without limitation,
adjusting any or all of the limitations under Section 5 of this Plan) and (B) the terms of any outstanding Award, including,
without limitation, (1) the number of Common Stocks or other securities of the Company (or number and kind of other securities or
other property) subject to outstanding Awards or to which outstanding Awards relate, (2) the Exercise Price or Strike Price with
respect to any Award or (3) any applicable performance measures (including, without limitation, Performance Criteria and Performance
Goals);

 

(ii) subject to the requirements
of Section 409A of the Code, providing for a substitution or assumption of Awards, accelerating the exercisability of, lapse of restrictions
on, or termination of, Awards or providing for a period of time for exercise prior to the occurrence of such event; and

 

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(iii) subject to the
requirements of Section 409A of the Code, canceling any one or more outstanding Awards and causing to be paid to the holders thereof,
in cash, Common Stocks, other securities or other property, or any combination thereof, the value of such Awards, if any, as determined
by the Committee (which if applicable may be based upon the price per Common Stock received or to be received by other stockholders of
the Company in such event), including without limitation, in the case of an outstanding Option or SAR, a cash payment in an amount equal
to the excess, if any, of the Fair Market Value (as of a date specified by the Committee) of the Common Stocks subject to such Option
or SAR over the aggregate Exercise Price or Strike Price of such Option or SAR, respectively (it being understood that, in such event,
any Option or SAR having a per share Exercise Price or Strike Price equal to, or in excess of, the Fair Market Value of a Common Stock
subject thereto may be canceled and terminated without any payment or consideration therefor); provided, however,
that in the case of any “equity restructuring” (within the meaning of the Financial Accounting Standards Board Statement of
Financial Accounting Standards No. 123 (revised 2004) or ASC Topic 718, or any successor thereto), the Committee shall make an equitable
or proportionate adjustment to outstanding Awards to reflect such equity restructuring. Any adjustment in Incentive Stock Options under
this Section 12 (other than any cancellation of Incentive Stock Options) shall be made only to the extent not constituting a “modification”
within the meaning of Section 424(h)(3) of the Code, and any adjustments under this Section 12 shall be made in a manner
that does not adversely affect the exemption provided pursuant to Rule 16b-3 under the Exchange Act. The Company shall give each
Participant notice of an adjustment hereunder and, upon notice, such adjustment shall be conclusive and binding for all purposes.

 

13. Effect of Change in
Control. Except to the extent otherwise provided in an Award Agreement, in the event of a Change in Control, notwithstanding any provision
of this Plan to the contrary, with respect to all or any portion of a particular outstanding Award or Awards:

 

(a) all of the then outstanding
Options, SARs and Restricted Stock Units held by an Eligible Director shall immediately vest and become immediately exercisable as of
a time prior to the Change in Control by such Eligible Director (unless otherwise specified in any Award Agreement);

 

(b) the Restricted Period
of any Award to an Eligible Director shall expire as of a time prior to the Change in Control (including without limitation a waiver of
any applicable Performance Goals); and

 

(c) Performance Periods
in effect on the date the Change in Control occurs shall end on such date, and the Committee shall (i) determine the extent to which
Performance Goals with respect to each such Performance Period have been met based upon such audited or unaudited financial information
or other information then available as it deems relevant and (ii) cause the Participant to receive partial or full payment of Awards
for each such Performance Period based upon the Committee’s determination of the degree of attainment of the Performance Goals,
or assuming that the applicable “target” levels of performance have been attained or on such other basis determined by the
Committee. To the extent practicable, any actions taken by the Committee under the immediately preceding clauses (a) through (c) shall
occur in a manner and at a time which allows affected Participants the ability to participate in the Change in Control transactions with
respect to the Common Stocks subject to their Awards.

 

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14. Amendments and Termination.

 

(a) Amendment and
Termination of this Plan. The Board may amend, alter, suspend, discontinue, or terminate this Plan or any portion thereof at any
time; provided, that (i) no amendment to the definition of Eligible Person in Section 2(q), Section 5(b), Section 11(b) or
Section 14(b) (to the extent required by the proviso in such Section 14(b)) shall be made without stockholder approval
and (ii) no such amendment, alteration, suspension, discontinuation or termination shall be made without stockholder approval if
such approval is necessary to comply with any tax or regulatory requirement applicable to this Plan (including, without limitation, as
necessary to comply with any rules or requirements of any national securities exchange or inter-dealer quotation system on which
the Common Stocks may be listed or quoted or to prevent the Company from being denied a tax deduction under Section 162(m) of
the Code); and, provided, further, that any such amendment, alteration, suspension, discontinuance or termination
that would materially and adversely affect the rights of any Participant or any holder or beneficiary of any Award theretofore granted
shall not to that extent be effective without the prior written consent of the affected Participant, holder or beneficiary.

 

(b) Amendment of
Award Agreements. The Committee may, to the extent consistent with the terms of any applicable Award Agreement, waive any conditions
or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate, any Award theretofore granted or the associated
Award Agreement, prospectively or retroactively; provided, however that any such waiver, amendment, alteration, suspension,
discontinuance, cancellation or termination that would materially and adversely affect the rights of any Participant with respect to any
Award theretofore granted shall not to that extent be effective without the consent of the affected Participant.

 

15. Right of Repurchase.

 

(a) Repurchase
Option; Termination of Award. Unless otherwise set forth in any applicable Award, if, with respect to a Participant, any
of the events specified in Section 15(b) below occur, then, within twelve (12) months after the Company receives actual knowledge
of the event (the “Repurchase Period”), the Company shall have the right, but not the obligation, to repurchase
from the Participant, or his or her legal representative, as the case may be, all or a portion of the shares of Common Stock acquired
pursuant to an Award by the Participant, regardless of whether such Participant is then still employed or engaged by, or otherwise has
a relationship with the Company (the "Repurchase Option"). The Repurchase Option shall be exercised by the Company
by giving the Participant, or his or her legal representative, written notice of its intention to exercise the Repurchase Option on or
before the last day of the Repurchase Period.

 

The Company may exercise its
Repurchase Option by tendering to the Participant, or his or her legal representative, or delivering to an escrow account for the benefit
of the Participant, or his or legal representative, an amount equal to the price originally paid by the Participant to the Company, subject
to adjustment as provided herein, for each share of Common Stock to be repurchased by the Company hereunder. Upon timely exercise of the
Repurchase Option in the manner provided in this Section 15(a), the Participant, or his or her legal representative, shall deliver
to the Company the stock certificate or certificates representing the shares purchased by the Participant under this Plan, as set forth
in (i) and (ii) above, and to be repurchased by the Company hereunder, duly endorsed and free and clear of any and all liens,
charges and encumbrances. If the Participant shall fail to deliver such stock certificate or certificates, the Company shall be entitled
to instruct its transfer agent to take such action as may be necessary to remove the requisite number of shares of Common Stock registered
in the name of the Participant from the books and records of the Company. The Repurchase Option and any right of the Company to payment
pursuant to Section 15 hereof shall be a right of the Company in addition to any and all other rights of the Company and remedies
available to the Company, whether at law or in equity. Furthermore, upon the Company receiving actual knowledge of the occurrence of any
of the events specified in Section 15(b) below, all Awards to acquire Common Stock granted to such Participant shall immediately
terminate and shall thereupon not be exercisable to any extent whatsoever. The Board or, in the case of an employee that is not an executive
officer, the President may waive or modify the provisions of this Section with respect to any individual Participant, with regard
to the facts and circumstances of any particular situation involving a determination under this Section.

 

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(b) Triggering Events.
The Company shall have the Repurchase Option in the event that any events for Cause shall occur, as determined in good faith by the Board.

 

(c) Repurchase Price.
In the event that at the time the Company wishes to exercise its Repurchase Option, the Participant ceases to own a sufficient number
of shares of Common Stock acquired by him or her under the Plan to satisfy the Company’s Repurchase Option, in addition to performing
any obligations necessary to satisfy the Company’s exercise of its Repurchase Option of those shares of Common Stock available for
repurchase, the Participant shall be required to deliver to the Company, for each share of Common Stock that is the subject of the Repurchase
Option and is not available for repurchase as it has been sold or transferred, an aggregate cash amount, if positive, equal to the difference
between the Fair Market Value of each share of Common Stock sold or transferred by the Participant and the price originally paid by the
Participant to the Company for each such share of Common Stock so sold or transferred by the Participant, as adjusted. The Fair Market
Value of each share of Common Stock sold or transferred by the Participant shall be determined as of the date of such sale or transfer.

 

16. General.

 

(a) Award Agreements.
Each Award under this Plan shall be evidenced by an Award Agreement, which shall be delivered to the Participant (whether in paper or
electronic medium (including email or the posting on a web site maintained by the Company or a third party under contract with the Company))
and shall specify the terms and conditions of the Award and any rules applicable thereto, including without limitation, the effect
on such Award of the death, Disability or termination of employment or service of a Participant, or of such other events as may be determined
by the Committee. The Company’s failure to specify any term of any Award in any particular Award Agreement shall not invalidate
such term, provided such terms was duly adopted by the Board or the Committee.

 

(b) Nontransferability;
Trading Restrictions.

 

(i) Each Award shall
be exercisable only by a Participant during the Participant’s lifetime, or, if permissible under applicable law, by the Participant’s
legal guardian or representative. No Award may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered
by a Participant other than by will or by the laws of descent and distribution and any such purported assignment, alienation, pledge,
attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or an Affiliate; provided that the designation
of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance.

 

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(ii) Notwithstanding
the foregoing, the Committee may, in its sole discretion, permit Awards (other than Incentive Stock Options) to be transferred by a Participant,
with or without consideration, subject to such rules as the Committee may adopt consistent with any applicable Award Agreement to
preserve the purposes of this Plan, to: (A) any person who is a “family member” of the Participant, as such term is used
in the instructions to Form S-8 under the Securities Act (collectively, the “Immediate Family Members”);
(B) a trust solely for the benefit of the Participant and his or her Immediate Family Members; or (C) a partnership or limited
liability company whose only partners or stockholders are the Participant and his or her Immediate Family Members; or (D) any other
transferee as may be approved either (I) by the Board or the Committee in its sole discretion, or (II) as provided in the applicable
Award Agreement (each transferee described in clauses (A), (B), (C) and (D) above is hereinafter referred to as a “Permitted
Transferee”); provided, that the Participant gives the Committee advance written notice describing the terms and
conditions of the proposed transfer and the Committee notifies the Participant in writing that such a transfer would comply with the requirements
of this Plan.

 

(iii) The terms of any
Award transferred in accordance with subparagraph (ii) above shall apply to the Permitted Transferee and any reference in this Plan,
or in any applicable Award Agreement, to a Participant shall be deemed to refer to the Permitted Transferee, except that (A) Permitted
Transferees shall not be entitled to transfer any Award, other than by will or the laws of descent and distribution; (B) Permitted
Transferees shall not be entitled to exercise any transferred Option unless there shall be in effect a registration statement on an appropriate
form covering the Common Stocks to be acquired pursuant to the exercise of such Option if the Committee determines, consistent with any
applicable Award Agreement, that such a registration statement is necessary or appropriate; (C) the Committee or the Company shall
not be required to provide any notice to a Permitted Transferee, whether or not such notice is or would otherwise have been required to
be given to the Participant under this Plan or otherwise; and (D) the consequences of the termination of the Participant’s
employment by, or services to, the Company or an Affiliate under the terms of this Plan and the applicable Award Agreement shall continue
to be applied with respect to the Participant, including, without limitation, that an Option shall be exercisable by the Permitted Transferee
only to the extent, and for the periods, specified in this Plan and the applicable Award Agreement.

 

(iv) The Committee shall
have the right, either on an Award-by-Award basis or as a matter of policy for all Awards or one or more classes of Awards, to condition
the delivery of vested Common Stocks received in connection with such Award on the Participant’s agreement to such restrictions
as the Committee may determine.

 

(c) Tax Withholding.

 

(i) A Participant shall
be required to pay to the Company or any Affiliate, or the Company or any Affiliate shall have the right and is hereby authorized to withhold,
from any cash, Common Stocks, other securities or other property deliverable under any Award or from any compensation or other amounts
owing to a Participant, the amount (in cash, Common Stocks, other securities or other property) of any required withholding taxes in respect
of an Award, its exercise, or any payment or transfer under an Award or under this Plan and to take such other action as may be necessary
in the opinion of the Committee or the Company to satisfy all obligations for the payment of such withholding and taxes. In addition,
the Committee, in its discretion, may make arrangements mutually agreeable with a Participant who is not an employee of the Company or
an Affiliate to facilitate the payment of applicable income and self-employment taxes.

 

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(ii) Without limiting
the generality of clause (i) above, the Committee may, in its sole discretion, permit a Participant to satisfy, in whole or in part,
the foregoing withholding liability by (A) the delivery of Common Stocks (which are not subject to any pledge or other security interest)
owned by the Participant having a fair market value equal to such withholding liability or (B) having the Company withhold from the
number of Common Stocks otherwise issuable or deliverable pursuant to the exercise or settlement of the Award a number of shares with
a fair market value equal to such withholding liability (but no more than the maximum individual statutory rate for the applicable tax
jurisdiction).

 

(d) No Claim to Awards;
No Rights to Continued Employment; Waiver. No employee of the Company or an Affiliate, or other person, shall have any claim or
right to be granted an Award under this Plan or, having been selected for the grant of an Award, to be selected for a grant of any other
Award. There is no obligation for uniformity of treatment of Participants or holders or beneficiaries of Awards. The terms and conditions
of Awards and the Committee’s determinations and interpretations with respect thereto need not be the same with respect to each
Participant and may be made selectively among Participants, whether or not such Participants are similarly situated. Neither this Plan
nor any action taken hereunder shall be construed as giving any Participant any right to be retained in the employ or service of the Company
or an Affiliate, nor shall it be construed as giving any Participant any rights to continued service on the Board. The Company or any
of its Affiliates may at any time dismiss a Participant from employment or discontinue any consulting relationship, free from any liability
or any claim under this Plan, unless otherwise expressly provided in this Plan or any Award Agreement. By accepting an Award under this
Plan, a Participant shall thereby be deemed to have waived any claim to continued exercise or vesting of an Award or to damages or severance
entitlement related to non-continuation of the Award beyond the period provided under this Plan or any Award Agreement, notwithstanding
any provision to the contrary in any written employment contract or other agreement between the Company and its Affiliates and the Participant,
whether any such agreement is executed before, on or after the Date of Grant.

 

(e) International
Participants. With respect to Participants who reside or work outside of the United States of America and who are not (and who
are not expected to be) “covered employees” within the meaning of Section 162(m) of the Code, the Committee may
in its sole discretion amend the terms of this Plan or outstanding Awards (or establish a sub-plan) with respect to such Participants
in order to conform such terms with the requirements of local law or to obtain more favorable tax or other treatment for such Participants,
the Company or its Affiliates.

 

(f) Designation and
Change of Beneficiary. Each Participant may file with the Committee a written designation of one or more persons as the beneficiary(ies)
who shall be entitled to receive the amounts payable with respect to an Award, if any, due under this Plan upon his or her death. A Participant
may, from time to time, revoke or change his or her beneficiary designation without the consent of any prior beneficiary by filing a new
designation with the Committee. The last such designation filed with the Committee shall be controlling; provided, however,
that no designation, or change or revocation thereof, shall be effective unless received by the Committee prior to the Participant’s
death, and in no event shall it be effective as of a date prior to such receipt. If no beneficiary designation is filed by a Participant,
the beneficiary shall be deemed to be his or her spouse or, if the Participant is unmarried at the time of death, his or her estate. Upon
the occurrence of a Participant’s divorce (as evidenced by a final order or decree of divorce), any spousal designation previously
given by such Participant shall automatically terminate.

 

    21

     

    

 

(g) Termination of
Employment/Service. Unless determined otherwise by the Committee at any point following such event: (i) neither a temporary
absence from employment or service due to illness, vacation or leave of absence nor a transfer from employment or service with the Company
to employment or service with an Affiliate (or vice-versa) shall be considered a termination of employment or service with the Company
or an Affiliate; and (ii) if a Participant’s employment with the Company and its Affiliates terminates, but such Participant
continues to provide services to the Company and its Affiliates in a non-employee capacity (or vice-versa), such change in status shall
not be considered a termination of employment with the Company or an Affiliate for purposes of this Plan unless the Committee, in its
discretion, determines otherwise.

 

(h) No Rights as
a Stockholder. Except as otherwise specifically provided in this Plan or any Award Agreement, no person shall be entitled to the
privileges of ownership in respect of Common Stocks that are subject to Awards hereunder until such shares have been issued or delivered
to that person.

 

(i) Government and
Other Regulations.

 

(i) The obligation of
the Company to settle Awards in Common Stocks or other consideration shall be subject to all applicable laws, rules, and regulations,
and to such approvals by governmental agencies as may be required. Notwithstanding any terms or conditions of any Award to the contrary,
the Company shall be under no obligation to offer to sell or to sell, and shall be prohibited from offering to sell or selling, any Common
Stocks pursuant to an Award unless such shares have been properly registered for sale pursuant to the Securities Act with the Securities
and Exchange Commission or unless the Company has received an opinion of counsel, satisfactory to the Company, that such shares may be
offered or sold without such registration pursuant to an available exemption therefrom and the terms and conditions of such exemption
have been fully complied with. The Company shall be under no obligation to register for sale under the Securities Act any of the Common
Stocks to be offered or sold under this Plan. The Committee shall have the authority to provide that all certificates for Common Stocks
or other securities of the Company or any Affiliate delivered under this Plan shall be subject to such stop transfer orders and other
restrictions as the Committee may deem advisable under this Plan, the applicable Award Agreement, the federal securities laws, or the
rules, regulations and other requirements of the Securities and Exchange Commission, any securities exchange or inter-dealer quotation
system upon which such shares or other securities are then listed or quoted and any other applicable federal, state, local or non-U.S.
laws, and, without limiting the generality of Section 9 of this Plan, the Committee may cause a legend or legends to be put on any
such certificates to make appropriate reference to such restrictions. Notwithstanding any provision in this Plan to the contrary, the
Committee reserves the right to add any additional terms or provisions to any Award granted under this Plan that it in its sole discretion
deems necessary or advisable in order that such Award complies with the legal requirements of any governmental entity to whose jurisdiction
the Award is subject.

 

(ii) The Committee may
cancel an Award or any portion thereof if it determines, in its sole discretion, that legal or contractual restrictions and/or blockage
and/or other market considerations would make the Company’s acquisition of Common Stocks from the public markets, the Company’s
issuance of Common Stocks to the Participant, the Participant’s acquisition of Common Stocks from the Company and/or the Participant’s
sale of Common Stocks to the public markets, illegal, impracticable or inadvisable. If the Committee determines to cancel all or any portion
of an Award in accordance with the foregoing, unless doing so would violate Section 409A of the Code, the Company shall pay to the
Participant an amount equal to the excess of (A) the aggregate Fair Market Value of the Common Stocks subject to such Award or portion
thereof canceled (determined as of the applicable exercise date, or the date that the shares would have been vested or delivered, as applicable),
over (B) the aggregate Exercise Price or Strike Price (in the case of an Option or SAR, respectively) or any amount payable as a
condition of delivery of Common Stocks (in the case of any other Award). Such amount shall be delivered to the Participant as soon as
practicable following the cancellation of such Award or portion thereof. The Committee shall have the discretion to consider and take
action to mitigate the tax consequence to the Participant in cancelling an Award in accordance with this clause.

 

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(j) Payments to Persons
Other Than Participants. If the Committee shall find that any person to whom any amount is payable under this Plan is unable to
care for his affairs because of illness or accident, or is a minor, or has died, then any payment due to such person or his estate (unless
a prior claim therefor has been made by a duly appointed legal representative) may, if the Committee so directs the Company, be paid to
his spouse, child, relative, an institution maintaining or having custody of such person, or any other person deemed by the Committee
to be a proper recipient on behalf of such person otherwise entitled to payment. Any such payment shall be a complete discharge of the
liability of the Committee and the Company therefor.

 

(k) Nonexclusivity
of this Plan. Neither the adoption of this Plan by the Board nor the submission of this Plan to the stockholders of the Company
for approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements as it
may deem desirable, including, without limitation, the granting of stock options or other equity-based awards otherwise than under this
Plan, and such arrangements may be either applicable generally or only in specific cases.

 

(l) No Trust or Fund
Created. Neither this Plan nor any Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary
relationship between the Company or any Affiliate, on the one hand, and a Participant or other person or entity, on the other hand. No
provision of this Plan or any Award shall require the Company, for the purpose of satisfying any obligations under this Plan, to purchase
assets or place any assets in a trust or other entity to which contributions are made or otherwise to segregate any assets, nor shall
the Company maintain separate bank accounts, books, records or other evidence of the existence of a segregated or separately maintained
or administered fund for such purposes. Participants shall have no rights under this Plan other than as general unsecured creditors of
the Company, except that insofar as they may have become entitled to payment of additional compensation by performance of services, they
shall have the same rights as other employees under general law.

 

(m) Reliance on Reports.
Each member of the Committee and each member of the Board shall be fully justified in acting or failing to act, as the case may be, and
shall not be liable for having so acted or failed to act in good faith, in reliance upon any report made by the independent public accountant
of the Company and/or its Affiliates and/or any other information furnished in connection with this Plan by any agent of the Company or
the Committee or the Board, other than himself.

 

(n) Relationship
to Other Benefits. No payment under this Plan shall be taken into account in determining any benefits under any pension, retirement,
profit sharing, group insurance or other benefit plan of the Company except as otherwise specifically provided in such other plan.

 

    23

     

    

 

(o) Governing Law.
The Plan shall be governed by and construed in accordance with the internal laws of the State of Delaware, without giving effect to the
conflict of laws provisions.

 

(p) Severability.
If any provision of this Plan or any Award or Award Agreement is or becomes or is deemed to be invalid, illegal, or unenforceable in any
jurisdiction or as to any person or entity or Award, or would disqualify this Plan or any Award under any law deemed applicable by the
Committee, such provision shall be construed or deemed amended to conform to the applicable laws in the manner that most closely reflects
the original intent of the Award or the Plan, or if it cannot be construed or deemed amended without, in the determination of the Committee,
materially altering the intent of this Plan or the Award, such provision shall be construed or deemed stricken as to such jurisdiction,
person or entity or Award and the remainder of this Plan and any such Award shall remain in full force and effect.

 

(q) Obligations Binding
on Successors. The obligations of the Company under this Plan shall be binding upon any successor corporation or organization
resulting from the merger, amalgamation, consolidation or other reorganization of the Company, or upon any successor corporation or organization
succeeding to substantially all of the assets and business of the Company.

 

(r) Expenses; Gender;
Titles and Headings. The expenses of administering this Plan shall be borne by the Company and its Affiliates. Masculine pronouns
and other words of masculine gender shall refer to both men and women. The titles and headings of the sections in this Plan are for convenience
of reference only, and in the event of any conflict, the text of this Plan, rather than such titles or headings shall control.

 

(s) Other Agreements.
Notwithstanding the above, the Committee may require, as a condition to the grant of and/or the receipt of Common Stocks under an Award,
that the Participant execute lock-up, stockholder or other agreements, as it may determine in its sole and absolute discretion.

 

(t) Section 409A.
The Plan and all Awards granted hereunder are intended to comply with, or otherwise be exempt from, the requirements of Section 409A
of the Code. The Plan and all Awards granted under this Plan shall be administered, interpreted, and construed in a manner consistent
with Section 409A of the Code to the extent necessary to avoid the imposition of additional taxes under Section 409A(a)(1)(B) of
the Code. Notwithstanding anything in this Plan to the contrary, in no event shall the Committee exercise its discretion to accelerate
the payment or settlement of an Award where such payment or settlement constitutes deferred compensation within the meaning of Section 409A
of the Code unless, and solely to the extent that, such accelerated payment or settlement is permissible under Section 1.409A-3(j)(4) of
the Treasury Regulations. If a Participant is a “specified employee” (within the meaning of Section 1.409A-1(i) of
the Treasury Regulations) at any time during the twelve (12)-month period ending on the date of his termination of employment, and any
Award hereunder subject to the requirements of Section 409A of the Code is to be satisfied on account of the Participant’s
termination of employment, satisfaction of such Award shall be suspended until the date that is six (6) months after the date of
such termination of employment.

 

(u) Payments.
Participants shall be required to pay, to the extent required by applicable law, any amounts required to receive Common Stocks under
any Award made under this Plan.

 

*     *     *

 

    24

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