Document:

Exhibit 10.5

 

the marcus
corporation

retirement income AND SUPPLEMENTAL RETIREMENT plan

 

(As Amended and Restated Effective July
1, 2013)

 

    	 

    	 

    

 

TABLE OF CONTENTS

 

	 	Page
	 	 
	ARTICLE I. PURPOSE AND definitions	 
	Section 1.01. Purpose	1
	Section 1.02. Definitions	1
	Section 1.03. Construction	5
	 	 
	ARTICLE II. PURPOSE AND EFFECTIVE DATE	 
	Section 2.01. Purpose of Plan	6
	Section 2.02. Effective Date	6
	 	 
	ARTICLE III. Participation And Years of Service	 
	Section 3.01. Participation	6
	Section 3.02. Years of Service.	 7
	 	 
	ARTICLE IV. Accrued BENEFIT for RIP participants	 
	Section 4.01. RIP Participant’s Eligibility for Accrued Benefit	7
	Section 4.02. Total and Permanent Disability	8
	Section 4.03. Vesting of Accrued Benefit	8
	Section 4.04. RIP Participant’s Surviving Spouse Pre-Retirement Death Benefit	9
	Section 4.05. Calculation of Accrued Benefit	9
	Section 4.06. Payment of Accrued Benefit to RIP Participants	9
	Section 4.07. Optional Methods of Payment of Accrued Benefit	10
	Section 4.08. Pre-Retirement Death Benefit for RIP Participants	11
	 	 
	ARTICLE V. Accounts for SRP Participants	 
	Section 5.01. Establishment of Accounts	11
	Section 5.02. Initial Account Balances	11
	Section 5.03. Annual Allocations.	11
	Section 5.04. Earnings on Accounts	12
	Section 5.05. Vesting of Account Balances.	12
	Section 5.06. Distributions	13
	 	 
	ARTICLE VI. FUNDING OF BENEFITS	 
	Section 6.01. Source of Payments.	15
	 	 
	ARTICLE VII. OTHER PROVISIONS	 
	Section 7.01. Administration of the Plan	15
	Section 7.02. Non-Alienation of Payments	15
	Section 7.03. Incompetency	15
	Section 7.04. Limitation of Rights Against the Employer	16
	Section 7.05. Liability	16
	Section 7.06. Amendment or Termination of the Plan	16
	Section 7.07. Tax Withholding	17
	Section 7.08. Claims Procedures	17

  

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ARTICLE
I. PURPOSE AND definitions

 

Section
1.01. Purpose.   The Marcus Corporation has established this Retirement Income and Supplemental Retirement Plan to provide retirement
benefits to a select group of highly compensated employees in addition to those benefits provided under the Company’s tax-qualified
retirement plan. The Plan consists of two components: (1) the “Retirement Income Plan” or “RIP,” which
provides an annuity benefit based on a formula that takes into account a participant’s years of service and final average
compensation, and (2) the “Supplemental Retirement Plan” or “SRP,” which provides a benefit based on amounts
accumulated in a participant’s account.

 

Section
1.02. Definitions.   The following words and phrases when used herein shall have the following meanings, except as otherwise
required by the context:

 

(a)          “Account”
means the bookkeeping entry established on the records of the Company to reflect the amount owed to a SRP Participant (or
Beneficiary thereof) under the Plan.

 

(b)          “Accrued
Benefit” means the monthly benefit amount calculated pursuant to Section 4.05 hereof and payable in the form of a life-only
annuity commencing the month next following the later of the RIP Participant’s sixty-fifth (65th) birthday or Termination
Date.

 

(c)          “Actuarial
Equivalent” means a benefit of equivalent value calculated using an interest rate of eight percent (8%) per annum compounded
annually and a mortality rate based upon the 1984 UP Mortality Table for purposes of converting from one periodic form of payment
to another, including, without limitation, different commencement dates for payment, and for purposes of converting from a periodic
form of payment to a lump sum form of payment under Section 4.07(a)(ii) hereof.

 

(d)          “Administrator”
means the Marcus Retirement Planning Committee, or such other committee as may be appointed by the Board to administer this Plan.

 

(e)          “Affiliate”
means each entity that is required to be included in the controlled group of corporations with the Company within the meaning of
Code Section 414(b), or that is under common control with the Company within the meaning of Code Section 414(c); provided
that for purposes of determining if a Participant has incurred a Separation from Service, the phrase “at least 50 percent”
shall be used in place of the phrase “at least 80 percent” each place it appears therein or in the regulations thereunder.

 

(f)          “Average
Monthly Earnings” means a RIP Participant’s total compensation from the Employer for the five (5) calendar years during
which the Participant’s compensation was highest within the last ten (10) consecutive calendar years preceding his Termination
Date, divided by sixty (60). For purposes of making this calculation, compensation shall include amounts paid by the Employer to
a RIP Participant in the form of salary, cash bonuses and commissions, before payroll deductions and any reductions in compensation
for amounts deferred through The Marcus Corporation Pension Plus Plan, The Marcus Corporation Deferred Compensation Plan and any
Code Section 125 arrangement, but shall exclude imputed income, any other additional remuneration and/or expense reimbursement
which the Administrator, in its sole discretion, determines not to be compensation hereunder, and for periods on and after July
1, 2013, long-term incentive cash payments.

 

(g)          “Beneficiary”
means the person(s) or entity(ies) designated by a Participant to receive benefits under the Plan, if any, upon the Participant’s
death. Beneficiary designations shall be in writing, filed with the Administrator, and in such form as the Administrator may prescribe
for this purpose. The last designation filed with the Administrator prior to the Participant’s death shall be given effect.

 

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

 

(i)          “Change
of Control” has the meaning ascribed under Code Section 409A.

 

(j)          “Code”
means the Internal Revenue Code of 1986, as interpreted and applied by regulations and rulings issued pursuant thereto, all as
amended and in effect from time to time.

 

(k)          “Company”
means The Marcus Corporation.

 

(l)          “Compensation”
means a SRP Participant’s total compensation from the Employer for the Plan Year, subject to adjustments as set forth herein.
For this purpose, Compensation shall include amounts paid by the Employer to a SRP Participant in the form of salary, cash bonuses
and commissions, before payroll deductions and any reductions in compensation for amounts deferred through The Marcus Corporation
Pension Plus Plan, The Marcus Corporation Deferred Compensation Plan and any Code Section 125 arrangement, but shall exclude imputed
income, any other additional remuneration and/or expense reimbursement which the Administrator, in its sole discretion, determines
not to be compensation hereunder, and for periods on and after July 1, 2013, long-term incentive cash payments.

 

(m)          “Date
of Hire” means the date on which an Eligible Employee becomes employed with any Employer.

 

(n)          “Eligible
Employee” means any highly compensated employee who is employed by an Employer in an officer, executive or other managerial
capacity, as determined by the Administrator, in its sole discretion.

 

(o)          “Employer”
means the Company and each of its Affiliates which are participating employers under The Marcus Corporation Pension Plus Plan.

 

(p)          “Highly
Compensated Employee” means an Eligible Employee who has met the requirements to be considered a highly compensated employee
within the meaning of Code Section 414(q) for a Plan Year.

 

(q)          “Hour
of Service” has the meaning ascribed in The Marcus Corporation Pension Plus Plan.

 

(r)          “Other
Benefits” means any of the following which may be applied to reduce the Accrued Benefit amount payable hereunder to a RIP
Participant as calculated pursuant to Section 4.05 hereof:

 

		(i)	that portion, if any, of the monthly benefits payable
to him under any current or prior qualified defined benefit pension plan of any Employer which is attributable to employer contributions
and is based upon a period of service that is recognized both under such pension plan and this Plan for benefit accrual purposes;
provided, however, that, if the time and/or form of benefit payments under such pension plan (including without limitation, payments
pursuant to an annuity purchased as a consequence of such pension plan’s termination and payments of the aforesaid portion
included in any distribution from any qualified retirement plan of any Employer to which such portion was transferred) are different
from the time and/or form of benefits to be paid under this Plan, the reduction amount to be treated as “Other Benefits”
shall be the Actuarial Equivalent of the aforesaid portion which appropriately reflects such difference;

 

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		(ii)	an Actuarial Equivalent amount that appropriately reflects
the value of any amount not covered by clause (i) above which was distributed or is distributable to such Participant under any
qualified profit sharing, money purchase pension, stock bonus or other individual account plan of any Employer (excluding The
Marcus Corporation Deferred Compensation Plan) and is attributable to employer contributions (other than Code Section 401(k) deferrals
elected by such Participant) and based upon a period of service recognized for any purpose under both that plan and this Plan;
and

 

		(iii)	in the case of disability retirement under this Plan,
the amount of the monthly benefits payable to the Participant under any long-term disability welfare benefit program of any Employer
which is attributable to employer contributions; provided, however, that, if the time and/or form of benefits payments under such
program are different from the time and/or form of benefits to be paid under this Plan, the reduction amount to be treated as
“Other Benefits” shall be the Actuarial Equivalent of the aforesaid amount payable under such program which appropriately
reflects such difference; provided further, however, that the reduction amount specified by this clause (iii) shall only apply
during the period that the Participant is receiving benefit payments under both such program and this Plan.

 

(s)          “Participant”
means an Eligible Employee who has satisfied the requirements of Section 3.01.

 

(t)          “Period
of Severance” means the period of time between a Participant’s Termination Date and the date he is subsequently rehired
by any Employer.

 

(u)          “Plan”
means The Marcus Corporation Retirement Income and Supplemental Retirement Plan set forth herein, as amended and in effect from
time to time. The Plan consists of two components: the “Retirement Income Plan” which covers the RIP Participants as
described in Article IV, and the “Supplemental Retirement Plan” which covers the SRP Participants as described in Article
V.

 

(v)         “Plan
Year” means the twelve (12) month period ending on December 31 of each year during which the Plan is in effect.

 

(w)          “Points”
means the combination of a SRP Participant’s age (as of his most recent birthday) and Years of Service as of the last day
of a Plan Year.

 

(x)          “RIP
Participant” means a Participant in the Plan on December 31, 2008, who meets at least one of the following requirements on
January 1, 2009:

 

(i)          The
Participant is age 50 or older; or

 

(ii)         The
Participant has 20 or more Years of Service; or

 

(iii)        The
Participant is a member of the Corporate Executive Committee.

 

(y)          “Retirement”
for SRP Participant means a termination of employment from the Employer on or after attaining age sixty-five (65) and completing
five (5) Years of Service.

 

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(z)          “SRP
Participant” means a Participant who is not a RIP Participant.

 

(aa)         “Separation
from Service” means a Participant’s termination of employment from the Company and its Affiliates within the meaning
of Code Section 409A, or if the Participant continues to provide services to the Company and its Affiliates in a capacity other
than an employee after his or her termination, such later date as is considered a separation from service within the meaning of
Code Section 409A. Specifically, a Participant will be presumed to have incurred a Separation from Service when the level of bona
fide services performed by the Participant for the Company and its Affiliates permanently decreases to a level equal to twenty
percent (20%) or less of the average level of services performed by the Participant for the Company or its Affiliates during the
immediately preceding thirty-six (36) month period (or such lesser period of actual service). Notwithstanding the foregoing, a
Participant will not be considered to have terminated employment if the Participant is absent from active employment due to military
leave, sick leave or other bona fide leave of absence if the period of such leave does not exceed the greater of (i) six (6) months,
or if the leave of absence is due to the Participant’s Disability, then the leave period may be extended for up to a
total of twenty-nine (29) months; or (ii) the period during which the Participant’s right to reemployment by the Company
or an Affiliate is provided either by statute or by contract.

 

(bb)         “Social
Security Benefit” means (i) in all cases except disability retirements covered by clause (ii) below, the estimated monthly
primary old age insurance benefit payable to the Participant as of the later of his sixty-fifth (65th) birthday or Termination
Date under the provisions of the federal Social Security Act in effect on his Termination Date, or (ii) in the case of a disability
retirement due to a disability qualifying for disability benefits under said Act, the estimated monthly primary disability insurance
benefit payable to the Participant under the provisions of said Act in effect on his Termination Date, regardless in either case
of whether he applies for such benefit or whether he is or becomes ineligible therefor for any reason. If a Participant’s
employment terminates prior to attainment of age sixty-five (65) other than for a disability retirement covered by clause (ii)
immediately above, his Social Security Benefit shall be estimated on the assumption his rate of compensation (as defined in Section
1.02(f) hereof) for the calendar year immediately prior to his Termination Date will continue until age sixty-five (65). Once determined,
a Participant’s Social Security Benefit shall not be subject to adjustment except for arithmetical errors in the computation
thereof and shall, for all purposes of the Plan, be assumed to remain as finally computed regardless of any subsequent fact, event
or occurrence which would cause a change or an adjustment in the annual amount thereof actually payable to the Participant.

 

(cc)         “Specified
Employee” means a Participant who is a key employee (as defined in Code Section 416(i) but without regard to Code Section
416(i)(5)) of the Company or an Affiliate of the Company any of the stock of which is publicly traded on an established securities
market or otherwise, as determined at the time of the Participant’s Separation from Service. A Participant is a key employee
under Code Section 416(i) if the Participant meets the requirements of Code Section 416(i)(1)(A)(i), (ii) or (iii), applied in
accordance with the regulations under Code Section 416, but disregarding Code Section 416(i)(5), at any time during the 12-month
period ending on the identification date. For purposes of determining whether a Participant is a key employee, the definition of
compensation under Treasury Regulation §1.415-2(a) shall be used, applied as if the Company and its affiliates were not using
any safe harbor under Treasury Regulation §1.415-2(d), any of the special timing rules of Treasury Regulation §1.415-2(e)
or any of the special rules provided in Treasury Regulation §1.415-2(g). If a Participant is a key employee as of an identification
date, the Participant is treated as a Specified Employee for the 12-month period beginning on the first day of the fourth month
following the identification date. The identification date for this Plan shall be December 31 of each year, such that if the Participant
satisfies the foregoing requirements for key employee status as of December 31 of a year, the Participant shall be treated as a
key employee for the 12-month period beginning April 1 of the following calendar year.

 

(dd)         “Spouse”
means the person who is legally married to a RIP Participant (i) on the date he first receives a retirement benefit hereunder or,
(ii) where his death occurs prior to the commencement of such benefit payments, throughout the entire one (1) year period ending
on the date of such death.

 

(ee)         “Termination
Date” means the date on which a Participant’s employment with the Employer ends because he quits, retires, is terminated
or dies, or if earlier, the date of his Separation from Service.

 

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(ff)         “Total
and Permanent Disability” means a physical and/or mental disability which:

 

		(i)	results from bodily or mental injury or disease, whether
occupational or nonoccupational, while employed by the Employer;

 

		(ii)	has existed for a continuous period of seven (7) consecutive
months;

 

		(iii)	either (A) qualifies for disability benefits under the
federal Social Security Act or (B) is determined by the Administrator, on the basis of medical evidence satisfactory to the Administrator,
to wholly and permanently prevent the Participant from engaging in any occupation or employment for remuneration or profit;

 

		(iv)	was not contracted, suffered or incurred while the Participant
was engaged in, or did not result from his having engaged in, a criminal act involving moral turpitude; and

 

		(v)	did not result from addiction to alcohol or narcotics,
self-inflicted injury or act of war.

 

In determining under condition (iii) whether
a Participant is wholly or permanently prevented from engaging in any occupation or employment for remuneration or profit, there
shall be excepted from consideration: (x) work performed pursuant to a medically recommended plan for rehabilitation; and (y) work
from which the annual earnings amount to no more than twenty-five percent (25%) of his compensation (as defined in Section 1.02(l)
hereof) for the calendar year immediately preceding the date that he incurred the disability which is found to be a Total and Permanent
Disability.

 

(gg)         “Trust”
means the trust established pursuant to the trust agreement dated September 30, 1992, by and between the Company and Bank One Wisconsin
Trust Company, NA.

 

(hh)         “Year
of Service” means twelve (12) full months of employment with the Employer which is credited pursuant to Section 3.04 hereof
for purposes of participation eligibility, vesting, benefit accrual, and determining Points under the Plan.

 

Section
1.03. Construction.

 

(a)          Wherever
any words are used herein in the masculine, they shall be construed as though they were used in the feminine in all cases where
they would so apply, and wherever any words herein are used in the singular or the plural, they shall be construed as though they
were used in the plural or the singular, as the case may be, in all cases where they would so apply. The words “hereof”,
“herein”, “hereunder” and other similar compounds of the word “here” shall
mean and refer to the entire Plan and not to any particular Article or Section. Titles of Articles and Sections hereof are for
general information only, and the Plan is not to be construed by reference thereto.

 

(b)          The
Plan shall be construed and its validity determined according to applicable federal laws and, to the extent not preempted by such
federal laws, the laws of the State of Wisconsin without reference to conflict of law principles thereof. In case any provision
of this Plan shall be held illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts
of the Plan, but the Plan shall be construed and enforced as if said illegal and invalid provisions had never been inserted herein.

 

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(c)          The
Plan shall be construed and interpreted in a manner that will cause any payment hereunder that is considered deferred compensation
and that is not exempt from Code Section 409A to meet the requirements thereof such that no additional tax will be due under Code
Section 409A on such payment.

 

ARTICLE
II. PURPOSE AND EFFECTIVE DATE

 

Section
2.01. Purpose of Plan. The purpose of the Plan is to provide for the special retirement income needs of certain employees
of the Employer which are not deemed to be satisfied by the applicable current and prior qualified retirement plans of the Employer.

 

Section
2.02. Effective Date. The Plan is amended and restated effective July 1, 2013. The provisions of this amended and restated
Plan apply to any individual with an interest hereunder on or after January 1, 2009. Notwithstanding the foregoing, any Participant
who began receiving distributions under the Plan prior to January 1, 2009, shall continue to receive such distributions according
to the election then in effect.

  

ARTICLE
III. Participation And Years of Service

 

Section
3.01. Participation.

 

(a)          Any
employee who was a Participant in the Plan on December 31, 2008, shall continue in participation hereunder on January 1, 2009.

 

(b)          Any
other Eligible Employee shall become a Participant in the Plan on his participation date (if he is then employed by the Employer),
which date shall be the January 1 next following the Eligible Employee’s satisfaction of all the following requirements:

 

		(i)	attainment of age twenty-one (21);

 

		(ii)	completion of one (1) Year of Service; and

 

		(iii)	employment with the Employer resulting in compensation
which is reportable on the Eligible Employee’s W-2 form for the calendar year immediately preceding any potential participation
date after his satisfying both requirements (i) and (ii) above and which equals or exceeds the amount of compensation applicable
to such year under Code Section 414(q)(1)(B); provided, however, that such reportable compensation shall include any amounts excludable
therefrom pursuant to compensation reductions for deferrals specified in Section 1.02(l) hereof.

 

(c)          Any
employee who terminated his employment with the Employer prior to June 1, 1990 but on or after January 1, 1990, and who satisfied
the eligibility requirements of subsection (b) of this Section 3.01 on his Termination Date shall become a Participant in the Income
Plan on June 1, 1990.

 

(d)          A
Participant who has once satisfied all the eligibility requirements of subsection (a) or (b) of this Section 3.01 will remain eligible
to participate in the Plan despite whether he continues to satisfy requirement (iii) of said subsection (b) subsequent to his participation
date.

 

(e)          An
Eligible Employee whose employment with the Employer terminates and who is subsequently reemployed with an Employer shall be re-credited
upon reemployment with his prior Years of Service for eligibility purposes.

 

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Section
3.02. Years of Service.

 

(a)          A
Participant shall earn Years of Service in an amount equal to the number determined as follows:

 

		(i)	the total number of months during the period beginning
on the Participant’s Date of Hire and ending on his Termination Date, 

 

plus

 

		(ii)	any Period of
Severance of less than twelve (12) months, 

 

divided by

 

		(iii)	twelve (12).

 

(b)          Except
as provided below, a Participant who incurs a Period of Severance from employment with the Employer shall have his Years of Service
before the Period of Severance reinstated and aggregated with his Years of Service after the Period of Severance.

 

Notwithstanding the foregoing,
for purposes of determining a Participant’s vested interest in his Account:

 

		(i)	If a SRP Participant incurs a Period of Severance of
sixty (60) consecutive months or more, all Years of Service earned by the SRP Participant after such Period of Severance shall
be disregarded in determining such Participant’s vested interest in his Account attributable to employment before such Period
of Severance. However, Years of Service earned both before and after such Period of Severance shall be included in determining
the SRP Participant’s vested interest in his Account balance attributable to employment after such Period of Severance.

 

		(ii)	If a SRP Participant incurs a Period of Severance of
fewer than sixty (60) consecutive months, Years of Service earned both before and after such Period of Severance shall be included
in determining such Participant’s vested interest in his Account attributable to employment both before and after such Period
of Severance.

 

(c)          After
calculating a Participant’s Years of Service under subsection (a) and (b) of this Section 3.02, any remaining period of less
than twelve (12) months shall be disregarded.

 

ARTICLE
IV. Accrued BENEFIT for RIP participants

 

Section
4.01. RIP Participant’s Eligibility for Accrued Benefit.   Subject to Section 4.03 hereof, a RIP Participant shall be
entitled to all or a portion of his Accrued Benefit upon the RIP Participant’s Termination Date that occurs:

 

(a)          on
or after his attainment of age sixty-five (65) (normal retirement);

 

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(b)          due
to his Total and Permanent Disability occurring prior to age sixty-five (65) and on or after his completion of five (5) Years of
Service (disability retirement);

 

(c)          prior
to his attainment of age sixty-five (65) and on or after both his attainment of age sixty (60) and completion of five (5) Years
of Service (early retirement); or

 

(d)          prior
to his attainment of age sixty (60) and on or after his completion of five (5) Years of Service (deferred vested retirement).

 

Section
4.02. Total and Permanent Disability

 

. Any Participant receiving disability
retirement benefits hereunder may be required to submit to medical examination at any time during retirement prior to age sixty-five
(65), but not more often than semi-annually, to determine whether he is eligible for continuance of the disability retirement benefits
hereunder. If on the basis of such examination it is found that he no longer has a Total and Permanent Disability, his disability
retirement benefits hereunder shall cease.

 

Section
4.03. Vesting of Accrued Benefit.

 

 (a)          A
RIP Participant who qualifies on his Termination Date for normal, disability or early retirement under subsection (a), (b) or
(c), respectively, of Section 4.01 hereof shall be one hundred percent (100%) vested in his Accrued Benefit.

 

(b)          A
RIP Participant who qualifies on his Termination Date for deferred vested retirement under subsection (d) of Section 4.01 hereof
shall be vested in his Accrued Benefit in accordance with the following schedule:

 

	years
                                                                                                                                                of
                                                                                                                                                service 
	vested
                                                                                                                                                percentage

        of
        accrued benefit

	 	 
	Less than 5	0%
	5	50%
	6	60%
	7	70%
	8	80%
	9	90%
	10	100%

 

(c)          Notwithstanding
subsections (a) and (b) of this Section 4.03 or any other provision herein to the contrary, one hundred percent (100%) of the entire
amount of a RIP Participant’s Accrued Benefit shall be forfeited if the Administrator determines, in its sole discretion,
as of or subsequent to the RIP Participant’s Termination Date that either or both of the following events shall have occurred:

 

		(i)	The RIP Participant engaged in misconduct with respect
to his employment with the Employer which shall include, but not be limited to by way of enumeration, theft, embezzlement, dishonesty,
fraud, malfeasance, misappropriation, divulging trade secrets or confidential business information, conspiracy against any Employer,
refusal of a work assignment by his Employer or assisting a competitor of any Employer; and/or

 

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		(ii)	During the one (1) year period immediately following
the RIP Participant’s Termination Date, the RIP Participant takes employment with, becomes a consultant to or otherwise
engages in a business competitive with any business of any Employer within Wisconsin, any state contiguous thereto or any other
state in which such Employer does business.

 

Section
4.04. RIP Participant’s Surviving Spouse Pre-Retirement Death Benefit. In the event a RIP Participant dies both while
employed by the Employer and on or after his completion of five (5) Years of Service, the RIP Participant’s surviving Spouse,
if any, shall be entitled to receive death benefits hereunder as provided in Section 4.08 hereof.

 

Section
4.05. Calculation of Accrued Benefit. The Accrued Benefit of any RIP Participant upon terminating employment with the Employer
shall be a monthly benefit equal to the amount calculated as follows:

 

(a)          fifty
percent (50%) of his Average Monthly Earnings as of his Termination Date,

minus

 

(b)          fifty
percent (50%) of his Social Security Benefit,

times

 

(c)          a
fraction, the numerator of which shall be the RIP Participant’s total number of Years of Service as of his Termination Date
or thirty (30), whichever is less, and the denominator of which shall be thirty (30),

 

minus

 

(d)          any
applicable Other Benefits.

 

Section
4.06. Payment of Accrued Benefit to RIP Participants.

 

(a)          The
vested portion (as determined under Section 4.03 hereof) of a RIP Participant’s Accrued Benefit (as calculated under Section
4.05 hereof) shall be payable monthly (or otherwise in accordance with the regular payroll cycle of the Company if so determined
by the Company), commencing with the month next following the later of:

 

		(i)	the month during which the RIP Participant’s Separation
from Service occurs, provided that if a RIP Participant is a Specified Employee at the time of his Separation from Service, the
payments that are payable during the first six (6) months after his Separation from Service shall be accumulated and paid in a
lump sum in the seventh (7th) month following the month in which his Separation from Service occurs, or

 

		(ii)	the age specified by the RIP Participant in a written
election filed no later than December 31, 2008, which date may not be earlier than age sixty (60) or later than age sixty-five
(65).

 

Such election shall be
irrevocable as of January 1, 2009. In the absence of an election, the vested portion of a RIP Participant’s Accrued Benefit
shall be paid on the later to occur of the RIP Participant’s Separation from Service (in accordance with clause (i) above)
and the RIP Participant’s attainment of age sixty-five (65). Subject to Section 4.07 hereof, the vested portion of a RIP
Participant’s Accrued Benefit shall be payable for the RIP Participant’s life only and shall end with the last payment
made prior to his death.

 

(b)          Any
benefit payments to a RIP Participant and his surviving Spouse or other Beneficiary in a form other than that provided in subsection
(a) of this Section 4.06 shall be adjusted so that their value is the Actuarial Equivalent to the value of the RIP Participant’s
vested Accrued Benefit, assuming it is paid monthly in the form provided in such subsection (a), commencing with the month next
following the later of his sixty-fifth (65th) birthday or Separation from Service. Any benefits actually commencing prior to age
sixty-five (65) shall be reduced to reflect the number of months by which the benefit payment commencement date precedes such post-age
sixty-five (65) month, with such reduction being four-tenths of one percent (0.4%) for each month of the early commencement period,
subject in the case of a disability retirement under Section 4.01(b) hereof, to a maximum aggregate reduction of twenty-four percent
(24%).

 

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Section
4.07. Optional Methods of Payment of Accrued Benefit.

  

(a)          Prior
to the commencement of his benefit payments hereunder and pursuant to procedures established by the Administrator, the RIP Participant
may, subject to Section 4.06(b) hereof and subsection (b) of this Section 4.07, and in lieu of the life only annuity otherwise
provided under Section 4.06, elect only one of the following applicable optional methods of payment of the vested portion of his
Accrued Benefit:

 

		(i)	If a RIP Participant has a Spouse on the date that his
benefit payments commence, the RIP Participant may receive payment in the form of a Fifty Percent (50%) Joint and Survivor Annuity
which shall provide a reduced monthly payment to the RIP Participant for his lifetime and, upon the RIP Participant’s death,
a lifetime monthly benefit to such Spouse, if surviving at the time of RIP Participant’s death, in an amount equal to fifty
percent (50%) of the reduced monthly benefit which had been payable to the RIP Participant. The last payment of the Fifty Percent
(50%) Joint and Survivor Annuity shall be made as of the first day of the month in which the death of both the RIP Participant
and his Spouse has occurred.

 

		(ii)	A RIP Participant, whether or not he has a Spouse on
the date that his benefit payments commence, may receive payment in the form of an One Hundred Twenty (120) Month Sum Certain
Annuity which provides a reduced monthly benefit payable during the RIP Participant’s life with the provision that, in the
event of his death within a period of ten (10) years after his benefit payment commencement date, such benefits shall continue
to such Beneficiary(ies) as the RIP Participant shall have designated in writing at the time of his election, for the remainder
of the ten (10) year period. If no designated Beneficiary survives the RIP Participant, a single sum payment which is the Actuarial
Equivalent of the remaining payments shall be made to the estate of the last to survive of the RIP Participant or his Beneficiary.
In the event all designated Beneficiaries die prior to the month for which benefits hereunder commence, then the RIP Participant’s
election of this optional annuity form shall not be effective.

 

The Company may elect
to pay the monthly payments provided herein in accordance with the regular payroll cycle of the Company.

 

(b)          A
RIP Participant must file his written election of an optional form of benefit payment and a designation of his Beneficiary(ies),
if any, under subsection (a) of this Section 4.07 with the Administrator within ninety (90) days prior to the date on which
his benefits commence. A RIP Participant’s election of an optional form of benefit payment and his beneficiary designation
thereunder may not be changed after benefit payments have commenced except that a RIP Participant’s designation of a Beneficiary(ies)
under the One Hundred Twenty (120) Month Sum Certain Annuity may be changed at any time prior to the RIP Participant’s death
or prior to the end of the ten (10) year period of benefit payment, whichever is earlier.

 

(c)          In
the event that a RIP Participant to whom payment of benefits hereunder has commenced is reemployed as a regular, full time employee
by an Employer, his benefit payments hereunder shall not be suspended. Rather, on the first day of the month next following his
subsequent Termination Date, any additional benefits to which the RIP Participant may become entitled as a result of his reemployment
shall be payable in accordance with the form of distribution in effect. The determination of whether a rehired person is reemployed
in a regular, full time capacity shall be made by the Administrator.

 

(d)          Upon
a RIP Participant’s Termination Date, the Administrator may elect, at its sole discretion, to distribute the Actuarial Equivalent
present value of the RIP Participant’s entire vested Accrued Benefit to such RIP Participant in a lump sum if such single
sum value does not exceed the limit in effect under Code Section 402(g)(1)(B) (which is the annual dollar limit on employee
elective deferrals to the 401(k) plan, without regard to the age 50 catch-up amount) for the year in which the RIP Participant’s
Separation from Service occurs. Notwithstanding any provisions to the contrary contained herein, if a RIP Participant who receives
a lump sum distribution pursuant to this subsection (d) is subsequently rehired by an Employer, the amount of any benefit
he shall become entitled to receive under the Plan as a result of his reemployment shall be offset by the amount which is the Actuarial
Equivalent of such lump sum distribution as if such amount were Other Benefits of the RIP Participant.

 

    	10

    	 

    

 

Section
4.08. Pre-Retirement Death Benefit for RIP Participants.

 

(a)          Subject
to subsection (b) of this Section 4.08, in the event a RIP Participant’s surviving Spouse, if any, is eligible for pre-retirement
death benefits pursuant to Section 4.04 hereof, such Spouse shall be entitled to receive fifty percent (50%) of the monthly Joint
and Survivor Annuity, determined in accordance with Sections 4.03, 4.05 and 4.07(a)(i), that the RIP Participant would have been
entitled to receive had he terminated employment with the Employer on the day before his death.

 

(b)          Payment
of benefits to a surviving Spouse shall commence the month next following what would have been the RIP Participant’s sixtieth
(60th) birthday or the RIP Participant’s date of death, whichever is later, and the amount of such payments shall be reduced
by four-tenths of one percent (0.4%) for each month payments are made prior to the month next following what would have been the
RIP Participant’s sixty-fifth (65th) birthday.

 

ARTICLE
V. Accounts for SRP Participants

 

Section
5.01. Establishment of Accounts.   The Company shall establish an Account for each SRP Participant, and shall credit to each
such Account the amounts specified in Sections 5.02, 5.03 and 5.04, as applicable.

 

Section
5.02. Initial Account Balances. A SRP Participant who is a Participant on January 1, 2009 shall be credited with an opening
Account balance in an amount equal to the single sum Actuarial Equivalent present value of such Participant’s vested Accrued
Benefit, calculated under Section 4.05 assuming a Termination Date of December 31, 2008. All other SRP Participants shall have
an opening Account balance of zero.

 

Section
5.03. Annual Allocations.

 

(a)          Eligibility
for Annual Allocation. Each SRP Participant shall be entitled to an annual allocation to his Account as of the last day of
a Plan Year if all of the following requirements are met:

 

		(i)	the SRP Participant has completed 1,000 Hours of Service
in such Plan Year, or has terminated employment during such Plan Year as a result of death, Total and Permanent Disability or
Retirement;

 

		(ii)	the SRP Participant is considered a Highly Compensated
Employee for such Plan Year; and

 

		(iii)	the SRP Participant is employed by an Employer on the
last day of such Plan Year, or has terminated employment during such Plan Year as a result of death, Total and Permanent Disability
or Retirement.

 

    	11

    	 

    

 

(b)          Amount
of Annual Allocation. If a SRP Participant is eligible for an annual allocation pursuant to subsection (a), the amount allocated
to his Account as of the last day of the Plan Year shall be determined as follows, based on the Participant’s employment
status as of the last day of such Plan Year:

 

		(i)	If the SRP Participant is a member of the Corporate Executive
Committee, his allocation shall be an amount equal to the percentage of his Compensation for the Plan Year that corresponds to
the Participant’s Points as of the last day of such Plan Year as set forth in the following table:

 

	Points	Percentage 

Compensation
	 	 
	<60	4%
	60 - 69	5%
	70 - 79	6%
	80+	7%

  

		(ii)	If the SRP Participant is a Senior Vice President, Vice
President, Senior Corporate Associate or Hotel General Manager (such designations to be determined in the sole discretion of the
Administrator), his allocation shall be an amount equal to the percentage of his Compensation for the Plan Year that corresponds
to the Participant’s Points as of the last day of such Plan Year as set forth in the following table:

 

	Points	Percentage

 Compensation
	 	 
	<60	2.0%
	60 - 69	2.5%
	70 - 79	3.0%
	80+	3.5%

  

(iii)        For
all other Participants, his allocation shall be an amount equal to 0.5% of his Compensation for the Plan Year.

 

Section
5.04. Earnings on Accounts.   Accounts shall be credited as of the last day of each calendar year quarter with simple interest
at the reference rate declared by Chase Bank N.A. on the first day of the calendar year quarter. Quarterly adjustments in the
reference rate at the beginning of each calendar year quarter will apply to all monies in an Account.

 

Section
5.05. Vesting of Account Balances.

 

(a)          A
SRP Participant shall be 100% vested in the balance of his Account if he terminates employment with the Employer due to death,
Total and Permanent Disability, or Retirement. In all other cases, the SRP Participant shall be vested in the balance of his Account
as of the date of his Termination Date in accordance with the following schedule:

 

    	12

    	 

    

 

	
        years
of service 
	
        vested
        percentage

        of
Account

	 	 
	Less than 5	0%
	5	50%
	6	60%
	7	70%
	8	80%
	9	90%
	10	100%

 

 

(b)          Notwithstanding
subsection (a), one hundred percent (100%) of the entire balance in a SRP Participant’s Account shall be forfeited if the
Administrator determines, in its sole discretion, as of or subsequent to the Participant’s Termination Date that either or
both of the following events shall have occurred:

 

		(i)	The Participant engaged in misconduct with respect to
his employment with the Employer which shall include, but not be limited to by way of enumeration, theft, embezzlement, dishonesty,
fraud, malfeasance, misappropriation, divulging trade secrets or confidential business information, conspiracy against any Employer,
refusal of a work assignment by his Employer or assisting a competitor of any Employer; and/or

 

		(ii)	During the one (1) year period immediately following
the Participant’s Termination Date, the Participant takes employment with, becomes a consultant to or otherwise engages
in a business competitive with any business of any Employer within Wisconsin, any state contiguous thereto or any other state
in which such Employer does business.

 

Section
5.06. Distributions.

 

(a)          Initial
Elections. Each SRP Participant who is a Participant on January 1, 2009, shall, prior to December 31, 2008, and pursuant to
procedures established by the Administrator, elect the time and form of payment of his Account balance in accordance with subsections
(d) and (e), which election shall become irrevocable as of January 1, 2009, except as provided in subsection (b). Each other SRP
Participant shall, within the first 30 days of his participation date and pursuant to procedures established by the Administrator,
elect the time and form of payment of his Account balance in accordance with subsections (d) and (e), which election shall become
irrevocable as of the end of the 30-day period, except as provided in subsection (b).

 

(b)          Subsequent
Elections. Beginning in 2010 and each five years thereafter (i.e., 2015, 2020, 2025, etc.), a SRP Participant may file
a new election as to the time and form of payment of his Account balance, in accordance with subsections (d) and (e), attributable
to deferrals made with respect to the following five (5) years. Such election shall be irrevocable as of the January 1 for which
it is effective, subject to the SRP Participant’s right to make a new election for a subsequent 5-year cycle. For example,
by December 31, 2010, a SRP Participant may file an election with respect to his Account balance attributable to deferrals made
with respect to the 2011-2015 time period. By December 31, 2015, a SRP Participant may file an election with respect to his Account
balance attributable to deferrals made with respect to the 2016-2020 time period. The Administrator shall create sub-Account(s)
to reflect each separate time and form of payment elected by the SRP Participant.

 

    	13

    	 

    

 

(c)          Default
Elections. If a SRP Participant fails to make an initial election as to the time and form of payment pursuant to subsection
(a), the Account shall be paid in the form of a lump sum at the Participant’s attainment of age sixty-five (65) or Separation
from Service, if later. If a SRP Participant fails to file an election with respect to a subsequent 5-year cycle pursuant to subsection
(b), the most recent election on file (or deemed election if no election has been made) shall apply to the next 5-year cycle.

 

(d)          Time
of Payment. A SRP Participant’s Account shall be paid on the later of Separation from Service or the age elected by the
SRP Participant, which must not be earlier than age sixty (60) or later than age sixty-five (65), or on the default date specified
in subsection (c) if applicable (the “distribution date”).

 

(e)          Forms
of Payment. A SRP Participant may elect to have his vested Account paid in one of the following optional forms of distribution,
or payment shall be made in the default form specified in subsection (c) if applicable.

 

		(i)	An optional form of distribution of an Account is payment
in a single lump sum amount equal to the vested balance of the SRP Participant’s Account within ninety (90) days after the
distribution date; provided that if the distribution is to be made upon a SRP Participant’s Separation from Service and
such individual is a Specified Employee at the time of his Separation from Service, then payment shall be made in the seventh
(7th) month following the month in which the SRP Participant’s Separation from Service occurs.

 

		(ii)	An optional form of distribution of an Account is the
installment method of payment. Annual installments over not more than ten (10) years may be elected. If the installment method
of payment is elected, the periodic payments will include earnings adjustments to any remaining balance during the payout period.
Annual amounts to be distributed under the installment method are determined at the beginning of the year in which payments are
to be made by multiplying the vested balance of the SRP Participant’s Account by a fraction in which the numerator is one
(1) and the denominator is the number of annual payments remaining to be paid (e.g., for 10 installments, 1/10, 1/9, 1/8, etc.).
The first installment payment shall be paid no later than ninety (90) days after the distribution date; provided that if the distribution
is to be made upon a SRP Participant’s Separation from Service and such individual is a Specified Employee at the time of
his Separation from Service, then payment shall be made in the seventh (7th) month following the month in which the
SRP Participant’s Separation from Service occurs. Remaining installment payments will be
paid in January of each year subsequent to the year in which the first installment was paid. If the vested balance of a SRP
Participant’s Account is ten thousand dollars ($10,000) or less on any payment date, the Company shall make a lump sum distribution
to the SRP Participant of the full remaining vested Account balance.

 

(f)          Lump
Sum Distribution. Notwithstanding anything to the contrary in subsections (d) and (e), on or after a SRP Participant’s
Separation from Service, the Administrator may elect, at its sole discretion, to distribute the SRP Participant’s entire
Account balance to such SRP Participant in a lump sum if (i) the sum of (A) such Account balance and (B) any other account
balance representing Company contributions and earnings thereon held on behalf of the SRP Participant in a nonqualified deferred
compensation plan does not exceed $17,500, which is the annual dollar limit on employee elective deferrals to the 401(k) plan for
2013 without regard to the age 50 catch-up amount, or such other dollar amount that is the elective deferral limit under Code Section
402(g)(1)(B) for the year in which the SRP Participant’s Separation from Service occurs, and (ii) such lump sum distribution
results in the termination and liquidation of the entirety of the SRP Participant’s interest in the Account and the other
account balance representing Company contributions and earnings thereon.

 

(g)          Death
Benefits. If a SRP Participant dies before receiving the full distribution of his vested Account, any remaining distributions
shall be made to the Beneficiary in a single lump sum within ninety (90) days following the date of the SRP Participant’s
death (provided that the Company shall have no liability to any Beneficiary for the consequences arising from any delay in payment
resulting from the failure of the Beneficiary to timely notify the Company of the SRP Participant’s death). If a Beneficiary
dies after a SRP Participant while entitled to receive a distribution from the Plan, the distribution shall be paid to the estate
of the Beneficiary. If a valid designation of Beneficiary is not in effect at the time of the death of a SRP Participant, or if
the Beneficiary does not survive the SRP Participant, the estate of the SRP Participant is deemed to be the sole Beneficiary of
the SRP Participant.

 

    	14

    	 

    

 

ARTICLE
VI. FUNDING OF BENEFITS

 

Section
6.01. Source of Payments.

 

(a)          Except
as otherwise provided in subsection (c) of this Section 6.01, no funds or other assets of the Company or the other Employer shall
be segregated and attributable to any benefit payments to be made at a later time as hereinabove provided, but rather benefit payments
under the Plan shall be made from the general assets of the Company at the time any such payment becomes due and payable. Benefit
payments under the Plan are to be taken as deductions for income tax purposes in the Company’s fiscal year that they are
actually made. No Participant or his Spouse or Beneficiary (surviving or otherwise), if any, shall have any proprietary rights
of any nature whatsoever with respect to any benefit payments, unless and until such time a benefit payment, and then only as to
the amount of such payment, is made to such Participant or the surviving Spouse or Beneficiaries thereof, as the case may be.

 

(b)          The
dollar amount of benefits that the Plan is obligated to pay to Participants pursuant to the provisions contained herein will be
recorded as part of the Company’s standard accounting procedures.

 

(c)          In
the event that there is a change of control or potential change of control (as defined in the Trust document) of the Company, the
Company will fund the Trust in accordance with the provisions of the Trust document to assure that obligations owed to all Participants
hereunder as of the date of said change shall be met; provided, however, that all monies deposited in the Trust shall remain subject
to the claims of the Company’s general creditors. 

 

ARTICLE
VII. OTHER PROVISIONS

 

Section
7.01. Administration of the Plan.   The Plan shall be administered by the Administrator who shall have all such powers that
may be necessary to carry out the provisions of the Plan in the absence of any action by the Board, including without limitation,
the power to delegate administrative matters to other persons; to amend, construe and interpret the Plan; to adopt and revise
rules, regulations and forms relating to and consistent with the Plan’s terms; and to make any other determinations which
it deems necessary or advisable for the implementation and administration of the Plan; provided, however, that the right and power
to amend the Plan’s Accrued Benefit calculation formula, the Account balances crediting formula, the vesting requirements
and/or to terminate the Plan are reserved exclusively to the Board. Subject to the foregoing, all decisions and determinations
by the Administrator shall be final, binding and conclusive as to all parties, including without limitation any Employer, any
Participant, any Spouse or other Beneficiary of a Participant, all other employees of the Employer and all other persons.

 

Section
7.02. Non-Alienation of Payments. Any benefits payable under the Plan shall not be subject in any manner to alienation, sale,
transfer, assignment, pledge, attachment, garnishment or encumbrance of any kind, by will, or by inter vivos instrument. Any attempt
to alienate, sell, transfer, assign, pledge or otherwise encumber any such benefit payment, whether currently or thereafter payable,
shall not be recognized by the Administrator or any Employer. Any benefit payment due hereunder shall not in any manner be liable
for or subject to the debts or liabilities of any Participant or the surviving Spouse or Beneficiary thereof, as the case may
be. If any such Participant, surviving Spouse or Beneficiary shall attempt to alienate, sell, transfer, assign, pledge or otherwise
encumber any benefit payments to be made to that person under the Plan or any part thereof, or if by reason of such person’s
bankruptcy or other event happening at any time, such payments would devolve upon anyone else or would not be enjoyed by such
person, then the Administrator, in its sole discretion, may terminate such person’s interest in any such benefit payment,
and hold or apply it to or for the benefit of that person, the Spouse, children, or other dependents thereof, or any of them,
in such manner as the Administrator may deem proper.

 

Section
7.03. Incompetency. Every person receiving or claiming benefit payments under the Plan shall be conclusively presumed to be
mentally competent and age of majority until the date on which the Administrator receives a written notice, in a form and manner
acceptable to the Administrator, that such person is incompetent and/or a minor and that a guardian, conservator, or other person
legally vested with the care of his estate has been appointed. In the event a guardian or conservator of the estate of any person
receiving or claiming benefit payments under this Plan shall be appointed by a court of competent jurisdiction, payments may be
made to such guardian or conservator; provided that proper proof of appointment and continuing qualification is furnished in a
form and manner acceptable to the Administrator. Any such payment so made shall be a complete discharge of any liability therefor.

 

    	15

    	 

    

 

Section
7.04. Limitation of Rights Against the Employer. Participation in the Plan, or any modifications thereof, or the payments
of any benefits hereunder, shall not be construed as giving to any Participant any right to be retained in the service of any
Employer, limiting in any way the right of any Employer to terminate such Participant’s employment at any time, evidencing
any agreement or understanding express or implied, that any Employer will employ such Participant in any particular position or
at any particular rate of compensation and/or guaranteeing such Participant any right to receive any other form or amount of remuneration
from any Employer.

 

Section
7.05. Liability. Neither the Employer nor any shareholder, director, officer or other employee of any Employer or the Administrator
or any other person shall be jointly or severally liable for any act or failure to act hereunder, except for gross negligence
or fraud.

 

Section
7.06. Amendment or Termination of the Plan.

 

(a)          Amendment.
The Company, by action of the Board or the Administrator, as applicable, reserves the right to amend or modify the Plan at any
time; and such action shall be final, binding and conclusive as to all parties, including any Participant hereunder, any surviving
Spouse or Beneficiary thereof and all other employees and persons; provided, however, that any such action by the Board or the
Administrator, as applicable, to change the monthly or other payment amount or the time and manner of payment thereof as then provided
in the Plan shall not be effective and operative unless and until written consent thereto is obtained from each Participant affected
by such action or, if any such Participant is not then living, from the surviving Spouse or beneficiary thereof, as the case may
be.

 

(b)          Termination.
The Company, by action of the Board, reserves the right to terminate or discontinue the Plan at any time; and such action shall
be final, binding and conclusive as to all parties, including any Participant hereunder, any surviving Spouse or Beneficiary thereof
and all other employees and persons; provided, however, that any such action by the Board to terminate or discontinue the Plan
shall not be effective and operative unless and until written consent thereto is obtained from each Participant affected by such
action or, if any such Participant is not then living, from the surviving Spouse or Beneficiary thereof, as the case may be. Upon
termination of the Plan, the Board may provide that all benefits will be paid out in connection with the termination of the Plan
in the following circumstances:

 

		(i)	The irrevocable termination occurs within thirty (30)
days prior to or twelve (12) months following a Change of Control, and all other arrangements required to be aggregated with this
Plan under Code Section 409A following the Change of Control are likewise terminated and liquidated with respect to each Participant
that experienced the Change of Control event. In such event, each Participant’s benefits or Account balance, including those
benefits or Account balances already in pay status, shall be paid in a lump sum as soon as practicable (but not more than twelve
(12) months) following the date of such Plan termination.

 

		(ii)	The termination occurs within twelve (12) months of a
corporate dissolution taxed under Code Section 331, or with the approval of a bankruptcy court pursuant to 11 U.S.C. §503(b)(1)(A).
In such event, each Participant’s benefits or Account balance, including those benefits or Account balances already in pay
status, shall be paid in a lump sum in the latest of: (A) the calendar year in which the Plan termination occurs, (B) the first
calendar year in which the payment is no longer subject to a substantial risk of forfeiture, or (C) the first calendar year in
which payment is administratively practicable.

 

 

    	16

    	 

    

 

		(iii)	The termination of the Plan is irrevocable and does not
occur proximate to a downturn in the financial health of the Company and its Affiliates. In such event, all benefits and vested
Account balances will be distributed to all Participants, Spouses or beneficiaries, as applicable, in a single sum payment at
least 12, but not more than 24, months after the date of termination. This provision shall not be effective unless all other plans
required to be aggregated with this Plan under Code Section 409A are also terminated and liquidated. Notwithstanding the foregoing,
any payment that would otherwise be paid during the 12-month period beginning on the Plan termination date pursuant to the terms
of the Plan shall be paid in accordance with such terms. In addition, the Company or any Affiliate shall be prohibited from adopting
a similar arrangement within three years following the date of the Plan’s termination.

 

All lump sums payable
shall be the single sum Actuarial Equivalent present value of the Accrued Benefit, or the vested Account balance, to which the
Participant, Spouse or Beneficiary is entitled, as applicable, as of the date such lump sum is paid.

 

Section
7.07. Tax Withholding. The Company shall deduct from benefits payable hereunder any amounts it is required to withhold for
taxes as to such benefits under any state, federal, or local law. In addition, if prior to the date of distribution of any amount
hereunder, the Federal Insurance Contributions Act (FICA) tax imposed under Code Sections 3101, 3121(a) and 3121(v)(2), where
applicable, becomes due, then the Administrator may authorize a payment from the RIP Participant’s Accrued Benefit or the
SRP Participant’s Account balance equal to the amount needed to pay the Participant’s portion of such tax, as well
as withholding taxes resulting therefrom (including the additional taxes attributable to the pyramiding of such distributions
and taxes).

 

Section
7.08. Claims Procedures.

 

(a)          Initial
Claim. If a Participant, Spouse or Beneficiary (the “claimant”) believes that he is entitled to a distribution
from the Plan that was not provided, the claimant or his legal representative shall file a written claim for such benefit with
the Administrator no later than ninety (90) days following the date the distribution should have been made. The Administrator shall
review the claim within 60 days following the date of receipt of the claim. If the claimant’s claim is denied in whole or
part, the Administrator shall provide written notice to the claimant of such denial. The written notice shall include: the specific
reason(s) for the denial; reference to specific Plan provisions upon which the denial is based; a description of any additional
material or information necessary for the claimant to perfect the claim and an explanation of why such material or information
is necessary; and a description of the Plan’s review procedures (as set forth in subsection (b)) and the time limits applicable
to such procedures, including a statement of the claimant’s right to bring a civil action under Section 502(a) of ERISA following
an adverse determination upon review.

 

(b)          Request
for Appeal. The claimant has the right to appeal the Administrator’s decision by filing a written appeal to the Administrator
within 60 days after the claimant’s receipt of the decision or deemed denial; provided that to avoid penalties under Code
Section 409A, the claimant’s appeal must be filed no later than 180 days after the latest date the payment that is in dispute
should have been paid. The claimant will have the opportunity, upon request and free of charge, to have reasonable access to and
copies of all documents, records and other information relevant to the claimant’s appeal. The claimant may submit with the
appeal written comments, documents, records and other information relating to his appeal. The Administrator will review all comments,
documents, records and other information submitted by the claimant relating to the claim, regardless of whether such information
was submitted or considered in the initial claim determination. The Administrator shall make a determination on the appeal within
60 days after receiving the claimant’s written appeal; provided that the Administrator may determine that an additional 60-day
extension is necessary due to circumstances beyond the Administrator’s control, in which event the Administrator shall notify
the claimant prior to the end of the initial period that an extension is needed, the reason therefor and the date by which the
Administrator expects to render a decision. If the claimant’s appeal is denied in whole or part, the Administrator shall
provide written notice to the claimant of such denial. The written notice shall include: the specific reason(s) for the denial;
reference to specific Plan provisions upon which the denial is based; a statement that the claimant is entitled to receive, upon
request and free of charge, reasonable access to and copies of all documents, records, and other information relevant to the claimant’s
claim; and a statement of the claimant’s right to bring a civil action under Section 502(a) of ERISA. If the claimant does
not receive a written decision within the time period(s) described above, the appeal shall be deemed denied on the last day of
such period(s).

 

(c)          ERISA
Fiduciary. For purposes of ERISA, the Administrator shall be considered the named fiduciary and the plan administrator for
the Plan.

 

    	17Exhibit 10.1 

 

 

INTERLEUKIN GENETICS, INC.

 

2013 EMPLOYEE, DIRECTOR AND CONSULTANT
EQUITY INCENTIVE PLAN

 

1.           DEFINITIONS.

 

Unless otherwise specified
or unless the context otherwise requires, the following terms, as used in this Interleukin Genetics, Inc. 2013 Employee, Director
and Consultant Equity Incentive Plan, have the following meanings:

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

Common Stock means shares
of the Company’s common stock, $.001 par value per share.

 

Company means Interleukin
Genetics, a Delaware corporation.

 

    	1

    	 

    

 

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

 

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

 

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

 

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

 

Fair Market Value of a Share
of Common Stock means:

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    	2

    	 

    

 

Plan means this Interleukin
Genetics, Inc. 2013 Employee, Director and Consultant Equity Incentive Plan.

 

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

 

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

 

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

 

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

 

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

 

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

 

2.           PURPOSES
OF THE PLAN.

 

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

 

3.           SHARES
SUBJECT TO THE PLAN.

 

(a)          The
number of Shares which may be issued from time to time pursuant to this Plan shall be the sum of: (i) 8,860,000 shares of Common
Stock and (ii) any shares of Common Stock that are represented by awards granted under the Company’s 2004 Employee, Director
and Consultant Stock Plan that are forfeited, expire or are cancelled without delivery of shares of Common Stock or which result
in the forfeiture of shares of Common Stock back to the Company on or after August 9, 2013, or the equivalent of such number of
Shares after the Administrator, in its sole discretion, has interpreted the effect of any stock split, stock dividend, combination,
recapitalization or similar transaction in accordance with Paragraph 24 of this Plan; provided, however, that no more than 2,435,500
Shares shall be added to the Plan pursuant to subsection (ii).

 

    	3

    	 

    

 

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

 

4.           ADMINISTRATION
OF THE PLAN.

 

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

 

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

 

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

 

(c)          Determine
the number of Shares for which a Stock Right or Stock Rights shall be granted, provided, however, that in no event shall Stock
Rights with respect to more than 5,000,000 Shares be granted to any Participant in any fiscal year;

 

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

 

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

 

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(f)          Adopt
any sub-plans applicable to residents of any specified jurisdiction as it deems necessary or appropriate in order to comply with
or take advantage of any tax or other laws applicable to the Company, any Affiliate or to Participants or to otherwise facilitate
the administration of the Plan, which sub-plans may include additional restrictions or conditions applicable to Stock Rights or
Shares issuable pursuant to a Stock Right;

 

provided, however, that all such interpretations,
rules, determinations, terms and conditions shall be made and prescribed in the context of not causing any adverse tax consequences
under Section 409A of the Code and preserving the tax status under Section 422 of the Code of those Options which are designated
as ISOs. Subject to the foregoing, the interpretation and construction by the Administrator of any provisions of the Plan or of
any Stock Right granted under it shall be final, unless otherwise determined by the Board of Directors, if the Administrator is
the Committee. In addition, if the Administrator is the Committee, the Board of Directors may take any action under the Plan that
would otherwise be the responsibility of the Committee.

 

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

 

5.           ELIGIBILITY
FOR PARTICIPATION.

 

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

 

6.           TERMS
AND CONDITIONS OF OPTIONS.

 

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

 

    	5

    	 

    

 

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

 

		(i)	Exercise Price: Each Option Agreement shall state the exercise price (per share) of the
Shares covered by each Option, which exercise price shall be determined by the Administrator and shall be at least equal to the
Fair Market Value per share of Common Stock on the date of grant of the Option.

 

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

 

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

 

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

 

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

 

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

 

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

  

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

 

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

  

    	6

    	 

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

  

7.           TERMS
AND CONDITIONS OF STOCK GRANTS.

 

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

 

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

 

    	7

    	 

    

 

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

 

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

 

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

 

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

 

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

 

9.           EXERCISE
OF OPTIONS AND ISSUE OF SHARES.

 

An Option (or any part
or installment thereof) shall be exercised by giving written notice to the Company or its designee (in a form acceptable to the
Administrator, which may include electronic notice), together with provision for payment of the aggregate exercise price in accordance
with this Paragraph for the Shares as to which the Option is being exercised, and upon compliance with any other condition(s) set
forth in the Option Agreement. Such notice shall be signed by the person exercising the Option (which signature may be provided
electronically in a form acceptable to the Administrator), shall state the number of Shares with respect to which the Option is
being exercised and shall contain any representation required by the Plan or the Option Agreement. Payment of the exercise price
for the Shares as to which such Option is being exercised shall be made (a) in United States dollars in cash or by check,
or (b) at the discretion of the Administrator, through delivery of shares of Common Stock held for at least six months (if
required to avoid negative accounting treatment) having a Fair Market Value equal as of the date of the exercise to the aggregate
cash exercise price for the number of Shares as to which the Option is being exercised, or (c) at the discretion of the Administrator,
by having the Company retain from the Shares otherwise issuable upon exercise of the Option, a number of Shares having a Fair Market
Value equal as of the date of exercise to the aggregate exercise price for the number of Shares as to which the Option is being
exercised, or (d) at the discretion of the Administrator (after consideration of applicable securities, tax and accounting implications),
by delivery of the grantee’s personal recourse note bearing interest payable not less than annually at no less than 100%
of the applicable Federal rate, as defined in Section 1274(d) of the Code, or (e) at the discretion of the Administrator,
in accordance with a cashless exercise program established with a securities brokerage firm, and approved by the Administrator,
or (f) at the discretion of the Administrator, by any combination of (a), (b), (c), (d) and (e) above or (g) at the discretion
of the Administrator, by payment of such other lawful consideration as the Administrator may determine. Notwithstanding the foregoing,
the Administrator shall accept only such payment on exercise of an ISO as is permitted by Section 422 of the Code.

 

    	8

    	 

    

 

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

 

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

 

Any Stock Grant or
Stock-Based Award requiring payment of a purchase price for the Shares as to which such Stock Grant or Stock-Based Award is being
granted shall be made (a) in United States dollars in cash or by check, or (b) at the discretion of the Administrator, through
delivery of shares of Common Stock held for at least six months (if required to avoid negative accounting treatment) and having
a Fair Market Value equal as of the date of payment to the purchase price of the Stock Grant or Stock-Based Award, or (c) at the
discretion of the Administrator (after consideration of applicable securities, tax and accounting implications), by delivery of
the grantee’s personal recourse note bearing interest payable not less than annually at no less than 100% of the applicable
Federal rate, as defined in Section 1274(d) of the Code, or (d) at the discretion of the Administrator, by any combination of (a),
(b) and (c) above; or (e) at the discretion of the Administrator, by payment of such other lawful consideration as the Administrator
may determine.

 

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

 

    	9

    	 

    

 

11.         RIGHTS
AS A SHAREHOLDER.

 

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

 

12.         ASSIGNABILITY
AND TRANSFERABILITY OF STOCK RIGHTS.

 

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

 

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

 

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

 

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

 

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

 

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

 

    	10

    	 

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    	11

    	 

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    	12

    	 

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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(a)          All
Shares subject to any Stock Grant whether or not then subject to forfeiture or repurchase shall be immediately subject to repurchase
by the Company at the lesser of Fair Market Value or the purchase price, thereof.

 

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

 

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

 

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

 

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

 

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

 

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

 

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22.         PURCHASE
FOR INVESTMENT.

 

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

 

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

 

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

 

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

 

23.         DISSOLUTION
OR LIQUIDATION OF THE COMPANY.

 

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

 

24.         ADJUSTMENTS.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

25.         ISSUANCES
OF SECURITIES.

 

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

 

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26.         FRACTIONAL
SHARES.

 

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

 

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

 

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

 

28.         WITHHOLDING.

 

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

 

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29.         NOTICE
TO COMPANY OF DISQUALIFYING DISPOSITION.

 

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

 

30.         TERMINATION
OF THE PLAN.

 

The Plan will terminate
on May 30, 2023, the date which is ten years from the
earlier of the date of its adoption by the Board of Directors and the date of its approval by the shareholders of the Company.
The Plan may be terminated at an earlier date by vote of the shareholders or the Board of Directors of the Company; provided, however,
that any such earlier termination shall not affect any Agreements executed prior to the effective date of such termination. Termination
of the Plan shall not affect any Stock Rights theretofore granted.

 

31.         AMENDMENT
OF THE PLAN AND AGREEMENTS.

 

The Plan may be amended
by the shareholders of the Company. The Plan may also be amended by the Administrator, including, without limitation, to the extent
necessary to qualify any or all outstanding Stock Rights granted under the Plan or Stock Rights to be granted under the Plan for
favorable federal income tax treatment as may be afforded incentive stock options under Section 422 of the Code (including deferral
of taxation upon exercise), and to the extent necessary to qualify the Shares issuable under the Plan for listing on any national
securities exchange or quotation in any national automated quotation system of securities dealers. Any amendment approved by the
Administrator which the Administrator determines is of a scope that requires shareholder approval shall be subject to obtaining
such shareholder approval. Any modification or amendment of the Plan shall not, without the consent of a Participant, adversely
affect his or her rights under a Stock Right previously granted to him or her. With the consent of the Participant affected, the
Administrator may amend outstanding Agreements in a manner which may be adverse to the Participant but which is not inconsistent
with the Plan. In the discretion of the Administrator, outstanding Agreements may be amended by the Administrator in a manner which
is not adverse to the Participant.

 

32.         EMPLOYMENT
OR OTHER RELATIONSHIP.

 

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

 

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33.         GOVERNING
LAW.

 

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

  

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