Document:

Exhibit
10.1

 

AMENDED
and RESTATED MILBY EMPLOYMENT AGREEMENT

 

THIS
EMPLOYMENT AGREEMENT (this “Agreement”) is made as of June 1, 2021 (the “Effective Date”) by
and between Hillstream BioPharma Inc., a Delaware corporation with principal executive offices at 245 Main Street, Suite 204, Chester,
New Jersey 07930 (“Company”), and Randy D. Milby, residing at                     (“Executive”). Each
of Company and Executive is referred to herein as a “Party” and together they are referred to as the “Parties.”

 

Whereas,
the Company desires to continue to employ Executive, and Executive desires to continue to be employed by the Company, in each case effective
as of the date of an initial public offering of the Company (the “Effective Date”);

 

Whereas,
in connection with the foregoing, Executive shall be required to perform Executive’s duties and obligations hereunder on behalf
of the Company, as appropriate, and such duties and obligations shall be enforceable by the Company;

 

Whereas,
this Agreement supersedes any and all prior employment agreements by and between Executive and the Company;

 

TERMS

 

Now
therefore, in consideration of such employment and mutual covenants and promises herein contained, and for other good and valuable considerations,
the receipt and sufficiency of which are hereby acknowledged, the Company and Executive agree that the above recitals are hereby incorporated
by reference into this Agreement and are binding upon the parties hereto and agree as follows:

 

1.
EMPLOYMENT. The Company hereby agrees to employ Executive, and Executive hereby agrees to be employed with the Company, upon the
terms and conditions contained in this Agreement. Unless earlier terminated by either party in accordance with Section 5, Executive’s
employment with the Company shall continue for an initial term commencing on the Effective Date and continuing until the fifth (5th)
anniversary of the Effective Date (the “Initial Term”) and thereafter shall automatically renew for successive one
year terms (each a “Renewal Term”) unless either party provides written notice of non-renewal to the other party at
least sixty (60) days prior to the last day of the then-current term (such Initial Term and subsequent Renewal Term(s) or portions thereof
occurring prior to termination, collectively the “Employment Period”).

 

2.
DUTIES.

 

(a)
During the Employment Period, Executive shall serve the Company on a full-time basis and perform services in a capacity and in a manner
consistent with Executive’s position for the Company. Executive shall have the title of Founder, President and Chief Executive
Officer of the Company and shall have such duties, authorities and responsibilities as are consistent with such position, as the Board
of Directors of the Company (the “Company Board”) may designate from time to time. Executive will report directly
to the Company Board. During the Employment Period, the Company Board shall recommend to its shareholders that Executive be elected as
a member of the Company Board and, if so elected, Executive shall serve for no additional consideration as a member of the Company Board.
Notwithstanding the foregoing, Executive may (i) serve as a director officer and/or advisor of one (1) for-profit company without the
prior approval of the Company Board; (ii) perform and participate in charitable, civic, educational, professional, community and industry
affairs and other related activities; and (iii) manage Executive’s personal investments, provided, however, that such activities
do not materially interfere, individually or in the aggregate with the performance of Executive’s duties hereunder or conflict
or compete with the interests of the Company.

 

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3.
LOCATION OF EMPLOYMENT.

 

(a)
Place of Performance. The duties to be performed by Executive hereunder shall (subject to reasonable travel requirements on behalf
of Company) be performed remotely or at the executive offices of the Company in New Jersey, or wherever the principal executive offices
of the Company shall hereafter be located, or such other place as the Board may reasonably designate.

 

4.
COMPENSATION.

 

As
full compensation for the performance by Executive of the Services, Company shall pay Executive as follows:

 

(a)
Base Salary. In consideration of all services rendered by Executive under this Agreement, the Company shall pay Executive a base
salary (the “Base Salary”) at an annual rate of $485,000 (as it may be increased from time to time, the “Base Salary”)
during the Employment Period. The Base Salary shall be paid in such installments and such times as the Company pays its regularly salaried
employees, but no less than once per month, less applicable withholding and deductions. The Board shall annually review the Base Salary
to determine whether an increase in the amount thereof is warranted.

 

(b)
Annual Discretionary Bonus. During each fiscal year of the Executive’s employment with the Company (commencing with the
2021 fiscal year), Executive will be eligible to receive an annual discretionary bonus (“Cash Bonus”). Executive’s
target Cash Bonus shall be equal to 55% of Base Salary (the “Target Bonus”). The Cash Bonus amount will be based upon
achievement of Company and individual performance targets established by the Company Board, in its sole and absolute discretion, for
the fiscal year to which the bonus relates. The payment of any Cash Bonus described herein will be made at the same time annual bonuses
are generally paid to other senior executives of the Company (generally the first regular payroll date following the Company Board’s
certification of achievement of applicable performance targets). If Executive is eligible to receive a Cash Bonus, such bonus will not
be deemed to be fully “earned” unless Executive is (i) [employed by the Company and in good standing on the date the Cash
Bonus is paid, and (ii) has not given notice of Executive’s intention to resign Executive’s employment as of, or prior to,
the date the Company pays the applicable Cash Bonus. The Cash Bonus shall be paid to Executive no later than March 15th of the year following
the year for which the bonus is payable. If Executive is then employed by the Company, (i) with respect to the first year in which Company’s
market capitalization (calculated based on the product of the average volume weighted average share price of Company’s common stock
for a period of ten trading days ending on the last trading day of such year and the total shares of Company common stock outstanding
as of the last trading day of such year) equals or exceeded $250,000,000, Executive shall receive a lump sum cash payment of $150,000,
which shall be paid in cash within forty-five (45) days following the end of such year, (ii) with respect to the first year in which
Company’s market capitalization (calculated based on the product of the average volume weighted average share price of Company’s
common stock for a period of ten trading days ending on the last trading day of such year and the total shares of Company common stock
outstanding as of the last trading day of such year) equals or exceeded $500,000,000, Executive shall receive a lump sum cash payment
of $350,000, which shall be paid in cash within forty-five (45) days following the end of such year, and (iii) with respect to the first
year in which Company’s market capitalization (calculated based on the product of the average volume weighted average share price
of Company’s common stock for a period of ten trading days ending on the last trading day of such year and the total shares of
Company common stock outstanding as of the last trading day of such year) equals or exceeded $1,000,000,000, Executive shall receive
a lump sum cash payment of $750,000, which shall be paid in cash within forty-five (45) days following the end of such year.

 

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(c)
Equity. Equity Award. Executive will, on or as soon as reasonably practicable after the date of an initial public offering of
the Company (the “IPO Date”), be granted an equity-based compensation award (“Award”) in such amounts
and subject to such terms and conditions that are consistent with the terms and conditions outlined on Exhibit A attached hereto.
Upon termination of Executive’s employment, the treatment of any portion of outstanding Award shall be determined in accordance
with the terms of any agreements (and/or Company incentive plan) governing such Awards (“Award Agreement”). Executive
shall remain eligible to receive additional equity-based compensation awards as the Company may grant from time to time.

 

(d)
Withholding. Company shall withhold all applicable federal, state, local taxes and social security and such other amounts as may
be required by law, including withholding and/or deductions properly elected by Executive, from all amounts payable to Executive under
this Section 5.

 

(e)
Expenses. Company shall reimburse Executive for all reasonable business expenses incurred by Executive in furtherance of the business
and affairs of Company, including without limitation reasonable travel, lodging, meals, and entertainment, in each case, upon timely
receipt by Company of appropriate vouchers or other proof of Executive’s expenditures and otherwise in accordance with any expense
reimbursement policy as may from time to time be adopted by Company. In any case, any claim by Executive for reimbursement of expenses
for a calendar year must be submitted by the Executive by March 15th of the following year, and payment of the reimbursement
shall be made by the Company within ninety (90) days after Executive’s submission of request for reimbursement.

 

(f)
Other Benefits. Executive shall be entitled to benefits for which he shall be eligible under any benefit or other plans of the
Company (including, without limitation, dental, medical, medical reimbursement and hospital plans, pension plans, employee stock purchase
plans, profit sharing plans, bonus plans, prescription drug reimbursement plans, short and long term disability plans, life insurance
and other so-call “fringe” benefits) as Company shall make available to its senior executives from time to time. Executive
shall be designated as a named insured on directors’ and officers’ liability insurance for Company.

 

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5.
VACATION. During the Employment Period, Executive shall be entitled to vacation benefits consistent with Company policy, as may be
in effect from time to time, except to the extent such policy is inconsistent with this Agreement.

 

6.
CONFIDENTIAL INFORMATION AND INVENTIONS.

 

(a)
Confidential Information; Non-Use. Executive recognizes and acknowledges that in the course of his duties he is likely to receive
confidential or proprietary information of Company, its affiliates or third parties with whom Company or any such affiliates has an obligation
of confidentiality. Accordingly, during and after the Term, Executive agrees to keep confidential and not disclose or make accessible
to any other person or use for any other purpose other than in connection with the fulfillment of his duties under this Agreement, any
“Confidential and Proprietary Information” (defined below) owned by or received by or on behalf of Company or any of its
affiliates. The term “Confidential and Proprietary Information” shall include, but shall not be limited to, confidential
or proprietary scientific or technical information, data, formulas and related concepts, business plans (both current and under development),
client lists, promotion and marketing programs, trade secrets, or any other confidential or proprietary business information relating
to development programs, costs, revenues, marketing, investments, sales activities, promotions, credit and financial data, manufacturing
processes, financing methods, plans or the business and affairs of Company or of any affiliate or client of Company. Executive expressly
acknowledges that the Confidential and Proprietary Information constitutes a protectable business interest of Company. Executive agrees:
(i) not to use any such Confidential and Proprietary Information for himself or others; and (ii) not to take any Company material or
reproductions (including but not limited to writings, correspondence, notes, drafts, records, invoices, technical and business policies,
computer programs or disks) thereof from Company’s offices at any time during his employment by Company, except as required in
the execution of Executive’s duties to Company, unless and until such Confidential and Proprietary Information has become public
knowledge without fault by Executive. Executive agrees to return immediately all Company material and reproductions (including but not
limited, to writings, correspondence, notes, drafts, records, invoices, technical and business policies, computer programs or disks)
thereof in his possession to Company upon request and in any event immediately upon termination of employment.

 

Notwithstanding
any other provisions of this Agreement, Executive may be entitled to immunity and protection from retaliation under the Defend Trade
Secrets Act of 2016 for disclosing a trade secret under certain limited circumstances. Specifically, pursuant to 18 U.S.C. 1833(b), Executive
shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that
(A) is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and
(ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document
filed in a lawsuit or other proceeding, if such filing is made under seal. Further, Executive who files a lawsuit for retaliation by
an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the Executive and use the trade
secret information in the court proceeding, if Executive (A) files any document containing the trade secret under seal; and (B) does
not disclose the trade secret, except pursuant to court order.

 

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(b)
Non-Disclosure. Except with prior written authorization by Company, Executive agrees that during the Term and thereafter, he will
not disclose or publish: (i) any of the Confidential and Proprietary Information; or (ii) any confidential, scientific, technical, or
business information of any party to whom the Executive knows, or should reasonably know, that Company or any of its affiliates owes
an obligation of confidence.

 

(c)
Inventions. Executive agrees that all inventions, discoveries, improvements and patentable or copyrightable works (“Inventions”)
initiated, conceived or made by him within the scope of the Company’s business (during the Term) or using Company’s resources,
either alone or in conjunction with others shall be the sole property of Company to the maximum extent permitted by applicable law and,
to the extent permitted by law, shall be “works made for hire” as that term is defined in the United States Copyright Act
(17 U.S.C.A., Section 101). Company shall be the sole owner of all patents, copyrights, trade secret rights, and other intellectual property
or other rights in connection therewith; provided, however that this Section 6(c) shall not apply to Inventions which are not related
to the business of Company and which are made and conceived by Executive not during normal working hours, not on Company’s premises
and not using Company’s tools, devices, equipment or Confidential and Proprietary Information. Subject to the foregoing, Executive
hereby assigns to Company all right, title and interest he may have or acquire in all Inventions; provided, however, that the Board may
in its sole discretion agree to waive Company’s rights pursuant to this Section 6(c).

 

(d)
Further Actions and Assistance. Executive agrees to cooperate reasonably with Company and at Company’s expense, both during
and after his employment with Company, with respect to the procurement, maintenance and enforcement of copyrights, patents, trademarks,
and other intellectual property rights (both in the United States and foreign countries) relating to such Inventions. Executive shall
sign all papers, including, without limitation, copyright applications, patent applications, declarations, oaths, formal assignments,
assignments of priority rights and powers of attorney, that Company reasonably may deem necessary or desirable in order to protect its
rights and interests in any Inventions. Executive further agrees that if Company is unable, after reasonable effort, to secure Executive’s
signature on any such papers, any officer of Company shall be entitled to execute such papers as his agent and attorney-in-fact and Executive
hereby irrevocably designates and appoints each officer of Company as his agent and attorney-in-fact to execute any such papers on his
behalf and to take any and all actions as Company reasonably may deem necessary or desirable in order to protect its rights and interests
in any Inventions, under the conditions described in this paragraph.

 

(e)
Prior Inventions. Executive will not assert any rights to any invention, discovery, idea, or improvement relating to the business
of the Company or his duties hereunder as having been made or acquired by Executive prior to his work for Company, except for the matters,
if any, described in Appendix A to this agreement.

 

(f)
Disclosure. Executive agrees that he will promptly disclose to Company all Inventions initiated, made, or conceived or reduced
to practice by him, either alone or jointly with other, during the Term.

 

(g)
Survival. The provisions of this Section 6 shall survive any termination of this Agreement.

 

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(h)
Return of Company Property. Within ten (10) days following the date of any termination of Executive’s employment, Executive
or Executive’s personal representative shall return all property of the Company and its Affiliates in Executive’s possession,
including but not limited to all Company Group-owned computer equipment (hardware and software), smart phones, facsimile machines, tablet
computers and other communication devices, credit cards, office keys, security access cards, badges, identification cards and all copies
(including drafts) of any documentation or information (however stored) relating to the business of the Company and its Affiliates, its
customers and clients or its prospective customers and clients.

 

(i)
Cooperation. During the Employment Period and for six years thereafter, Executive shall give Executive’s assistance and
cooperation, upon reasonable advance notice, in any matter relating to Executive’s position with the Company and its Affiliates,
or Executive’s knowledge as a result thereof as the Company may reasonably request, including Executive’s attendance and
truthful testimony where deemed appropriate by the Company, with respect any investigation or the Company’s (or an Affiliate’s)
defense or prosecution of any existing or future claims or litigations or other proceeding relating to matters in which Executive was
involved or had knowledge by virtue of Executive’s employment with the Company Group, in all cases on schedules that are reasonably
consistent with Executive’s other permitted activities and commitments. The Company agrees to reimburse Executive for any costs
Executive incurs in connection with complying with this Section, including Executive’s reasonable attorney’s fees.

 

7.
NON-COMPETITION, NON-SOLICITATION AND NON-DISPARAGEMENT.

 

(a)
Restrictive Covenant. Executive understands and recognizes that his services to Company are special and unique and that in the
course of performing such services Executive will have access to and knowledge of Confidential and Proprietary Information and Executive
agrees that, during the Term and twelve month period immediately following Executive’s separation from employment (the “Termination
Restriction Period”), whether such separation is voluntary or involuntary, he shall not in any manner, directly or indirectly,
on behalf of himself or any other person, firm, partnership, joint venture, corporation or other business entity (“Person”),
enter into or engage in any business involving the development or commercialization of competing products developed or commercialized
by the Company at the time of Executive’s separation or at any time during Executive’s employment with the Company (the “Business
of the Company”) within the geographic area in which Company does business, which is deemed by the Parties hereto to be the United
States and the European Union. Executive acknowledges that, due to the unique nature of Company’s business, Company has a strong
legitimate business interest in protecting the continuity of its business interests and its Confidential and Proprietary Information
and the restriction herein agreed to by Executive narrowly and fairly serves such an important and critical business interest of Company.
Notwithstanding the foregoing, nothing contained in this Section 7(a) shall be deemed to prohibit Executive from acquiring or passively
holding, solely for investment, publicly traded securities of any corporation, some or all of the activities of which are engaged in
the Business of Company so long as such securities do not, in the aggregate, constitute more than four percent (4%) of any class or series
of outstanding securities of such corporation; and further notwithstanding the foregoing, nothing contained in this Section 7(a) shall
preclude Executive from performing the functions of chief executive or other senior executive, per se, provided such functions do not
involve the development of a product within the Business of the Company, as defined herein, or the use of the Confidential and Proprietary
Information; becoming an employee of, or from otherwise providing services to, a separate division or operating unit of a multi-divisional
business or enterprise (a “Division”) if: (i)) the Division by which Executive is employed, or to which Executive provides
services, is not engaged in the Business of Company, (ii) Executive does not provide services, directly or indirectly, to any other division
or operating unit of such multi-divisional business or enterprise engaged in or proposing to engage in the Business of Company (individually,
a “Competitive Division” and collectively, the “Competitive Divisions”) and (iii) the Competitive Divisions,
in the aggregate, accounted for less than 10% of the multi-divisional business or enterprise’s consolidated revenues for the fiscal
year, and each subsequent quarterly period, prior to Executive’s commencement of employment with or provision of services to the
Division.

 

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(b)
Reasonableness of Restriction. Executive hereby acknowledges and agrees that the covenant against competition provided for pursuant
to Section 7 (a) is reasonable with respect to its duration, geographic area and scope. If, at the time of enforcement of this Section
7, a court holds that the restrictions stated herein are unreasonable under the circumstances then existing, the Parties hereto agree
that the maximum duration, scope or geographic area legally permissible under such circumstances will be substituted for the duration,
scope or area stated herein.

 

(c)
Non-Solicitation. During the Term and the applicable Termination Restriction Period (as defined hereinafter), Executive shall
not, directly or indirectly, without written consent of Company: (i) solicit or induce any employee or independent contractor of Company
or any of its affiliates to leave the employ of Company or any affiliate; or hire for any purpose any employee or independent contractor
of Company; or hire any former employee or independent contractor who has left the employment of Company or any affiliate of Company
within twelve (12) months of the termination of such employee’s employment with Company or any such affiliate for any purpose;
or hire any former employee or independent contractor of Company in knowing violation of such employee’s non-competition agreement
with Company or any such affiliate; or (ii) solicit, divert or take away, or attempt to divert or take away, the business or patronage
of any agent, client or customer (or any potential agent, client or customer) of Company which was served by Company (or which the Company
solicited for service) during the twelve-month period prior to the termination of Executive’s employment with Company; or (iii)
without the consent of the Board solicit or accept employment or be retained by any person, who at any time during the twelve month period
prior to the termination of Executive’s employment with Company, was an agent, client or customer of Company or any of its subsidiaries
where his position will be related to the Business of Company.

 

(d)
Non-Disparagement. Executive agrees that he shall not directly or indirectly disparage, whether or not truthfully, the name or
reputation of Company or any of its affiliates, including but not limited to, any officer, director, employee or shareholder of Company
or any of its affiliates provided that, nothing in this Section shall be construed to interfere with Executive’s right to engage
in protected concerted activity under the National Labor Relations Act. Notwithstanding this Section 7(d), nothing contained herein shall
apply to statements made by Executive (x) in the course of his responsibility to evaluate the performance and/or participate in any investigation
of the conduct or behavior of officers, employees and/or others or (y) as part of any judicial, administrative or other legal action
or proceeding, and nothing shall be construed to limit or impair the ability of Executive to provide truthful testimony in response to
any validly issued subpoena or to file pleadings or respond to inquiries or legal proceedings by any government agency to the extent
required by applicable law. In addition, Executive agrees not to, without Company’s prior written consent, communicate, directly
or indirectly, with the press or other media, concerning the past or present employees or businesses of the Company Group.

 

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(e)
Enforcement. In the event that Executive breaches or threatens to breach any provisions of Section 6 or this Section 7, then,
in addition to any other rights Company may have, Company shall be entitled to seek injunctive relief to enforce such provisions. Company
and Executive agree that any such action for injunctive or equitable relief shall be heard in a state or federal court situated in Morris
County in the State of New Jersey and each of the Parties hereto agrees to accept service of process by registered or certified mail
and to otherwise consent to the jurisdiction of such courts.

 

(f)
Remedies Cumulative; Judicial Modification. (i) Each of the rights and remedies enumerated in Section 7(e) shall be independent
of the others and shall be in addition to and not in lieu of any other rights and remedies available to Company at law or in equity.
If any of the covenants contained in this Section 7, or any part of any of them, is hereafter construed or adjudicated to be invalid
or unenforceable, the same shall not affect the remainder of the covenant or covenants or rights or remedies, which shall be given full
effect without regard to the invalid portions. If any of the covenants contained in this Section 7 is held to be invalid or unenforceable
because of the duration of such provision or the area covered thereby, the Parties agree that the court making such determination shall
have the power to reduce the duration and/or area of such provision and in its reduced form such provision shall then be enforceable.
(ii) In the event that an actual proceeding is brought in equity to enforce the provisions of Section 6 or this Section 7, Executive
shall not urge as a defense that there is an adequate remedy at law, nor shall Company be prevented from seeking any other remedies that
may be available.

 

(g)
Survival. The provisions of this Section 7 shall survive any termination of this Agreement.

 

8.
REPRESENTATIONS AND WARRANTIES.

 

(a)
By Executive. Executive hereby represents and warrants to Company as follows:

 

(i)
Neither the execution nor delivery of this Agreement nor the performance by Executive of his duties and other obligations hereunder conflict
with or constitute a default or breach of any covenant or obligation under (whether immediately, upon the giving of notice or lapse of
time or both) any prior employment agreement, contract, or other instrument to which Executive is a party or by which he is bound.

 

(ii)
Executive has the full right, power and legal capacity to enter and deliver this Agreement and to perform his duties and other obligations
hereunder. This Agreement constitutes the legal, valid and binding obligation of Executive enforceable against him in accordance with
its terms. No approvals or consents of any persons or entities are required for Executive to execute and deliver this Agreement or perform
his duties and other obligations hereunder.

 

(iii)
Executive will not use any confidential information or trade secrets of any third Party in his employment by Company in violation of
the terms of the agreements under which he had access to or knowledge of such confidential information or trade secrets.

 

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(b)
By Company. Company hereby represents and warrants to Executive as follows:

 

(i)
Neither the execution nor delivery of this Agreement nor the performance by Company of its obligations hereunder conflict with or constitute
a default or breach of any covenant or obligation under (whether immediately, upon the giving of notice or lapse of time or both) any
prior agreement, contract, or other instrument to which Company is a party or by which it is bound.

 

(ii)
Company has the full right and power to enter and deliver this Agreement and to preform obligations hereunder. This Agreement constitutes
the legal, valid and binding obligation of Company enforceable against it in accordance with its terms. All approvals or consents required
for Company to validly execute and deliver this Agreement and perform its obligations hereunder, including, without limitation, approval
of the Board, have been obtained.

 

9.
TERMINATION.

 

(a)
Cause. Executive’s employment hereunder may be terminated by the Board immediately for “Cause” (defined below).
Any of the following actions by Executive shall constitute “Cause”:

 

(i)
The willful failure, disregard or refusal by Executive to perform his material duties or obligations under this Agreement;

 

(ii)
Any willful, intentional or grossly negligent act by Executive having the effect of materially injuring (whether financial or otherwise
and as determined reasonably and in good faith by a majority of the members of the Board) the business or reputation of Company or any
of its affiliates;

 

(iii)
Executive’s indictment for or being charged with any felony or a crime involving serious moral turpitude (including entry of a
guilty or nolo contendere plea);

 

(iv)
A good faith determination by the Board and/or any government representative or agency that the Executive is a “bad actor”
as defined by 17 CFR 230.506(a);

 

(v)
The good faith determination by the Board, after a reasonable and good-faith investigation by the Company following any allegation by
another employee of Company, that Executive engaged in some form of harassment prohibited by law (including, without limitation, harassment
on the basis of age, sex or race) unless Executive’s actions were specifically directed by the Board;

 

(vi)
Any willful misconduct by the Executive or misappropriation, theft or embezzlement by Executive of the property of Company or its affiliates
(whether or not a misdemeanor or felony);

 

(vii)
Breach by Executive of any material provision of this Agreement or any other agreement between Executive and the Company or of any policy
of the Company that is not cured by Executive to the reasonable satisfaction of Company’s Board within thirty (30) days after written
notice thereof is given to Executive by Company.

For
purposes of Section 9 (a), no act or omission by Executive shall be considered willful if reasonably and in good faith believed by Executive
to be in, or not contrary to, the best interests of Company.

 

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(b)
Death. Executive’s employment hereunder shall be terminated upon Executive’s death.

 

(c) Disability.
The Board may terminate Executive’s employment hereunder due to Executive’s “Disability” (defined below).
For purposes of this Agreement, a termination due to Executive’s “Disability” shall be deemed to have
occurred:

 

(i)
when the Board has provided a written termination notice to Executive supported by a written statement from a “Reputable Independent
Physician” (defined below), whose determination as to disability shall be binding on all Parties, to the effect that Executive
shall have become so physically or mentally incapacitated by reason of physical or mental illness or injury as to be unable to resume
(with or without reasonable accommodation as that term is defined under applicable law) within the ensuing three (3) months his employment
under this Agreement; or

 

(ii)
upon rendering of a written termination notice by the Board after Executive has been unable to substantially perform his duties hereunder
by reason of any physical or mental illness or injury (with or without reasonable accommodation as that term is defined under applicable
law) for ninety (90) or more consecutive days or more than one hundred twenty (120) days in any consecutive twelve-month period.

 

The
term “Reputable Independent Physician” means a physician satisfactory to both Executive and Company, provided that if Executive
and Company do not agree on a physician, then a third physician selected by the physicians selected by Executive and Company. Executive
agrees to make himself available and to cooperate in a reasonable examination by the Reputable Independent Physician.

 

(d)
Good Reason. Executive may terminate his employment hereunder for “Good Reason” (defined below). The term “Good
Reason” shall mean the occurrence any of the following events (provided, Executive has provided Company with written notice of
the occurrence of such events within ninety (90) days of the occurrence of such events and Company has not cured such breach within thirty
(30) days from such notice and Executive terminates employment within 30 days of the expiration of such cure period):

 

(i)
any material breach of this Agreement by Company if Executive has provided Company with written notice of the breach within ninety (90)
days of the breach and Company has not cured such breach within thirty (30) days from such notice;

 

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(ii)
without Executive’s express written consent, any material reduction by Company of Executive’s duties, responsibilities, or
authority, including, without limitation, a change in the line of reporting between him and the Board;

 

(iii)
a relocation of Company’s principal place of business outside of the New York metropolitan area or to a location more than 50 miles
from the immediately preceding location without Executive’s written consent; or

 

(iv)
material reduction in Executive’s annual base salary unless all officers and/or members of the Company’s executive management
team experience an equal or greater percentage reduction in annual base salary and/or total compensation.

 

(e)
Convenience. Company and Executive each may terminate Executive’s employment hereunder for any reason or no reason at any
time by written notice of termination to the other Party, which notice shall specify the termination date, or by providing a Notice of
Nonrenewal to the other Party.

 

10.
COMPENSATION UPON TERMINATION.

 

In
the event Executive’s employment is terminated, Company shall pay to Executive the Base Salary and benefits otherwise payable to
him under Section 5 through the last day of his actual employment by Company, any reimbursable business expenses, and any earned but
unpaid bonuses (together, the “Accrued Compensation”). In addition to the Accrued Compensation:

 

(a)
Death or Disability. If Executive’s employment is terminated as a result of his death or Disability, Company shall pay to
Executive or to Executive’s estate, as applicable, (i) his Base Salary through the date which is ninety (90) days after his death
or Disability and (ii) such other or additional benefits, if any, as may be provided under applicable employee benefit plans, programs
and/or arrangements of Company. All shares of capital stock of Company held by Executive that are subject to vesting (“Restricted
Shares”) and all options to purchase shares of capital stock of Company (“Stock Options”) that are scheduled to vest
on or before the next succeeding anniversary of the Effective Date shall be accelerated and deemed to have vested as of the termination
date. All Restricted Shares and Stock Options that have not vested (or been deemed pursuant to the immediately preceding sentence to
have vested) as of the date of termination shall be forfeited to Company as of such date. Stock Options that have vested as of Executive’s
termination shall remain exercisable until the earlier to occur of (i) the expiry of sixty (60) months following such termination and
(ii) the last expiration/termination date applicable under the grant under which such Stock Options were granted. For Disability, all
payments, benefits and/or grants under this Section 10(a) shall be subject to Executive’s execution and delivery within 21 days
of separation from service of a general release of Company, its parents, subsidiaries, and affiliates and each of its officers, directors,
employees, agents, successors and assigns in a form that is acceptable to Company, with such payments, benefits and or grants commencing
thirty (30) days after Executives separation from service.

 

    	-11-

    	 

    

 

(b)
Cause. If Executive’s employment is terminated by the Board for Cause, then Company shall provide such other or additional
benefits, if any, as may be required under applicable employee benefit plans, programs and or arrangements of Company. Executive shall
have no further entitlement hereunder to any other compensation or benefits from Company except to extent otherwise provided by law.
All Restricted Shares that have not vested as of the date of termination shall be forfeited to Company as of such date. All unexercised
Stock Options vested as of Executive’s termination shall remain exercisable for ninety (90) days following such termination.

 

(c)
Other than for Cause, Death, or Disability. . If Company terminates Executive’s employment other than as a result of Executive’s
death or Disability and other than for Cause or if Executive terminates Executive’s employment for Good Reason, then Company shall
(i) continue to pay the Executive his Base Salary and provide health benefits for a period of twelve (12) months following the effective
date of the Executive’s separation from service (such period of payment referred to herein as the “Section 10(c) Termination
Benefits Period” or, in the case of benefits, such time as Executive receives equivalent coverage and benefits under plans and
programs of a subsequent employer; and (ii) provide such other or additional benefits, if any, as may be provided under applicable employee
benefit plans, programs and/or arrangements of the Company (other than any severance plans or programs). All Restricted Shares and Stock
Options that have not vested as of the date of termination shall be forfeited to Company as of such date. Stock Options that have vested
as of Executive’s termination shall remain exercisable until the earlier to occur of (i) the expiry of sixty (60) months following
such termination and (ii) the last expiration/termination date applicable under the grant under which such Stock Options were granted.
All payments, benefits and/or grants under this Section 10(c) shall be subject to Executive’s execution and delivery within sixty
(60) days of separation from service of a separation agreement with Company, including without limitation non-disparagement and confidentially
provisions, an agreement to cooperate past-separation of employment and a general release of the Company, its parents, subsidiaries and
affiliates and each of its officers, directors, employees, agents, successors and assign in a form acceptable to the Company, with such
payments, benefits, and or grants commencing sixty (60) days from Executive’s separation from service, except that any such payments,
benefits, and/or grants that would otherwise be payable during the sixty (60) day period shall be paid on the first payroll date following
the expiration of such 60-day period.

 

(d)
By Executive for Convenience. If Executive terminates Executive’s employment pursuant to Section 9(e), Executive shall not
be entitled to receive any payments or benefits other than the Accrued Compensation.

 

(e)
This Section 10 sets forth the only obligations of Company with respect to the termination of Executive’s employment with Company,
and Executive acknowledges that, upon the termination of his employment, he shall not be entitled to any payments or benefits which are
not explicitly provided in this Section 10, except as required by law or the terms of another employee plan, program or arrangement covering
him. Executive acknowledges and agrees that upon the termination of his employment with the Company, regardless of the reason or grounds
therefore, he shall resign from his position on the Board and from any other board, organization or foundation wherein Executive sits
or belongs as a representative of the Company.

 

(f)
The obligations of Company that arise under this Section 10 shall survive the expiration or earlier termination of this Agreement.

 

    	-12-

    	 

    

 

 

11.
CHANGE OF CONTROL.

 

(a)
Change of Control Defined. The term “Change of Control” means, after the Effective Date:

 

(i)
the acquisition by an individual, entity or group within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of
1934, as amended (the “Exchange Act”) of beneficial ownership of any capital stock of Company, if, after such acquisition,
such individual, entity or group beneficially owns (within the meaning of Rule 13d-3 promulgated under the Exchange Act) fifty percent
(50%) or more of the combined voting power of the then-outstanding securities of Company entitled to vote generally in the election of
directors (“Outstanding Company Voting Securities”); or

 

(ii)
the consummation of a merger, consolidation, reorganization, recapitalization or share exchange involving Company or a sale or other
disposition of all or substantially all of the assets of Company (“Business Combination”), unless, immediately following
such Business Combination, all or substantially all of the individuals and entities who were the beneficial owners of the Outstanding
Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the
combined voting power of the then-outstanding securities entitled to vote generally in the election of directors of the resulting or
acquiring corporation in such Business Combination (which shall include, without limitation, a corporation which as a result of such
transaction owns Company or substantially all of Company’s assets either directly or through one or more subsidiaries) in substantially
the same proportions as their ownership of the Outstanding Company Voting Securities immediately prior to such Business Combination.

 

(b)
Consequence. In the event of Executive’s termination of employment with the Company either (i) by the Company without Cause
at any time within twelve (12) months prior to the consummation of a Change of Control if, prior to, or as of such termination, a Change
of Control transaction was Pending (as defined herein) at any time during such twelve (12)-month period, (ii) by Executive for Good Reason
at any time within twelve (12) months after the consummation of a Change of Control, or (iii) by the Company without Cause at any time
upon or within twelve (12) months after the consummation of a Change of Control, then, Executive shall be entitled to receive the following:(i)
the acceleration and vesting in full of any then outstanding and unvested portion of any time- vesting equity award with, options continuing
to be exercisability for sixty (60) months following termination (or, if earlier, their expiration date); (ii) the benefits described
in Section 4 (a), (b) and (c), provided, however, that the Severance Amount shall equal two (2) times the sum of Base Salary
and Target Bonus and the Severance Period shall be twenty-four (24) months. A Change of Control transaction shall be deemed to be “Pending”
each time any of the following circumstances exist: (A) the Company and a third party have entered into a confidentiality agreement that
has been signed by a duly-authorized officer of the Company and that is related to a potential Change of Control transaction; (B) the
Company has received a written expression of interest from a third party, including a binding or non-binding term sheet or letter of intent,
related to a potential Change of Control transaction; or (C) a third party has publicly announced, through a filing with the Securities
and Exchange Commission, its intent to commence a tender offer or similar transaction to acquire 50% or more of the outstanding voting
interests of the Company.

 

    	-13-

    	 

    

 

(c)
Potential Adjustments due to Tax Implications. Notwithstanding anything in this Agreement or any other agreement between Executive
and Company to the contrary, but subject to this Section 11(c), Company will make the payments and other acceleration of benefits under
this Agreement or any other agreement or plan between the Company and Executive and other compensatory arrangements without regard to
whether Section 280G of the Internal Revenue Code of 1986 (the “Code”) would limit or preclude the deductibility of such
payments or benefits. However, if reducing or eliminating any such payment and/or other benefit would increase the “Total After-Tax
Payments” (defined below), then the amounts payable to Executive will be reduced or eliminated as follows (or in such other manner
as Company may specify at the applicable time) to the extent necessary to maximize such Total After-Tax Payments:

 

(i)
first, by reducing or eliminating any cash payments or other benefits (other than the vesting of any options or stock) and

 

(ii)
second, by reducing or eliminating the vesting of options and stock that occurs as a result of a Change of Control or other event covered
by Section 280G of the Code.

 

Company’s
independent, certified public accounting firm will determine whether and to what extent payments or vesting are required to be reduced
or eliminated in accordance with the foregoing. If there is ultimately determined to be an underpayment of or overpayment to Executive
under this provision, the amount of such underpayment or overpayment will be immediately paid to Executive or refunded by him, as the
case may be with interest at the applicable federal rate under the Code. The term “Total After-Tax Payments” means the total
value of all “parachute payments” (as that term is defined in Section 280G(b)(2) of the Code) made to Executive or for his
benefit (whether made under the Agreement or otherwise), after reduction for all applicable federal taxes (including, without limitation,
the tax described in Section 4999 of the Code).

 

12.
INDEMNIFICATION. Company shall defend and indemnify Executive in his capacity as Chief Executive Officer of Company to the fullest
extent permitted under to the Delaware General Corporate Law (the “DGCL”). Executive’s rights to, and Company’s
obligation to provide, indemnification shall survive termination of this Agreement.

 

13.
COMPLIANCE WITH CODE SECTION 409A.

 

(a)
The intent of the Parties to the Agreement is that the payments, compensation, and benefits under this Agreement will be exempt from
or comply with Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and guidance promulgated thereunder
(collectively, “Section 409A”) and, in this connection, the Agreement shall be interpreted to be exempt or in compliance
with Section 409A.

 

(b)
Potential Delay of Payment(s) and Adjustments. Notwithstanding any other provisions of the Agreement, if any payment, compensation
or other benefit provided to Executive in connection with his separation from service is determined, in whole or in part, to constitute
“nonqualified deferred compensation” within the meaning of Section 409A and Executive is a “specified employee”
within the meaning of Section 409A, no part of such payments shall be paid before the day that is six (6) months plus one (1) day after
the termination date (the “New Payment Date”). The aggregate of any payments that otherwise would have been paid to Executive
during the period between the termination date and the New Payment Date shall be paid to Executive in a lump sum on such New Payment
Date. Thereafter, any payments that remain outstanding as of the day immediately following the New Payment Date shall be paid without
delay over the time period originally scheduled, in accordance with the terms of this Agreement.

 

    	-14-

    	 

    

 

(c)
Separation from Service. For purposes of this Agreement, the terms “termination of employment” or “separation
from service” will be determined consistent with the rules relating to “separation from service” under Section 409A.

 

(d)
Installments. If any payment, compensation, or other benefit required by the Agreement is to be paid in a series of installment
payments, each individual payment in the series shall be considered a separate payment for purposes of Section 409A.

 

14.
MISCELLANEOUS.

 

(a)
Governing Law. Subject to the next sentence, this Agreement and all questions relating to its validity, interpretation, performance,
remediation, and enforcement (including, without limitation, provisions concerning limitations of actions) shall be governed by and construed
in accordance with the substantive laws of the State of New Jersey, notwithstanding any choice-of-law doctrines of that jurisdiction
or any other jurisdiction that ordinarily would or might cause the substantive law of another jurisdiction to apply.

 

Notwithstanding
the foregoing, all questions relating to the validity, interpretation, performance, remediation, and enforcement of Company’s obligations,
and Executive’s rights, under Section 12 shall be governed by and construed in accordance with the substantive laws of the State
of Delaware.

 

(b)
Personal Jurisdiction. To the fullest extent permitted by applicable law, any action or proceeding relating in any way to this Agreement
may only be brought and enforced in the State or Federal Courts located in Morris County, New Jersey, to the extent subject matter jurisdiction
exists therefore. The Parties irrevocably submit to the jurisdiction of such courts in respect of any such action or proceeding. The
parties irrevocable waive, to the fullest extent permitted by law, any objection that they may now or hereafter have to the laying of
venue of any such action or proceeding in such courts, as well as any claim that any such action or proceeding brought in any such court
has been brought in any inconvenient forum.

 

(c)
Service of Process. The Parties further irrevocably consent to the service of Process out of any of the aforementioned courts in
the manner and to the address specified in Section 14(h) of this Agreement.

 

(d)
Waiver of Jury Trail. Each of the parties hereby irrevocably waives all right to trial by jury in any action, proceeding or counterclaim
(whether based in contract, tort, or otherwise) arising out of or relating to this Agreement or the actions of any party in the negotiation,
administration, performance, and enforcement thereof. Each of the parties hereto further warrants and represents that it has reviewed
this waiver with its legal counsel, and that it knowingly and voluntarily waives its jury trial rights following consultation with legal
counsel. This waiver is irrevocable, meaning that it may not be modified either orally or in writing, and this waiver shall apply to
any subsequent amendments, renewals, supplements, or modifications to this Agreement. In the event of litigation, this Agreement may
be filed as a written consent to a trial by court.

 

    	-15-

    	 

    

 

(e)
Assignment. This Agreement, and Executive’s rights and obligations hereunder, may not be assigned by Executive. Company
may assign its rights, together with its obligations, hereunder in connection with any sale, transfer or other disposition of all or
substantially all of its business or assets. Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit
of the Parties hereto, and their respective heirs, legal representatives, successors and assigns.

 

(f)
Amendment. This Agreement cannot be amended orally, or by any course of conduct or dealing, but only by a written agreement duly
executed by the Parties.

 

(g)
Waiver. The failure of either Party to insist upon the strict performance of any of the terms, conditions and provisions of this
Agreement shall not be construed as a waiver or relinquishment of future compliance therewith, and such terms, conditions and provisions
shall remain in full force and effect. No waiver of any term or condition of this Agreement on the part of either Party shall be effective
for any purpose whatsoever unless such waiver is in writing and signed by such Party. Unless the written waiver instrument expressly
provides otherwise, no waiver by a Party of any right or remedy or breach by the other Party in any particular instance shall be construed
to apply to any right, remedy or breach arising out of or related to a subsequent instance.

 

(h)
Notices. All notices, demands or other communications desired or required to be given by a Party to the other Party shall be in
writing and shall be deemed effectively given upon (i) personal delivery to the Party to be notified, (ii) upon confirmation of receipt
of fax or other electronic transmission, (iii) one business day after deposit with a reputable overnight courier, prepaid for priority
overnight delivery, or (iv) five days after deposit with the United States Post Office, postage prepaid, certified mail, return receipt
requested, in each case to the Party to be notified at its/his address set forth at the top of this Agreement; or to such other addresses
and to the attention of such other individuals as either Party shall have designated to the other by notice given in the foregoing manner.

 

(i)
Entire Agreement. This Agreement sets forth the entire agreement and understanding of the Parties relating to the subject matter
hereof, and supersedes all prior agreements, arrangements, and understandings, written or oral between the Parties, relating to the subject
matter hereof. No representation, promise or inducement has been made by either Party that is not embodied in this Agreement, and neither
Party shall be bound by or liable for any alleged representation, promise or inducement not so set forth.

 

(j)
Affiliate and Control Defined. As used in this Agreement, the term “affiliate” of a specified Person shall mean and
include any Person controlling, controlled by or under common control with the specified Person. A Person shall be deemed to “control”
another Person if such first Person possesses directly or indirectly the power to direct, or cause the direction of, the management and
policies of the second Person, whether through the ownership of voting securities, by contract or otherwise.

 

    	-16-

    	 

    

 

(k)
Captions, Headings and Cross-References. The section headings contained herein are for reference purposes and convenience only
and shall not in any way affect the meaning or interpretation of this Agreement. Except as expressly set forth otherwise, all cross-references
to sections refer to sections of this Agreement.

 

(l)
Severability. In addition to, and not in conflict with, the provisions of Section 7(b) and 7(f), the Parties agree that each and
every provision of this Agreement shall be deemed valid, legal and enforceable in all jurisdictions to the fullest extent possible. Any
provision of this Agreement that is determined to be invalid, illegal or unenforceable in any jurisdiction or country in the Territory
shall, as to that jurisdiction or country, be adjusted and reformed rather than voided, if possible, in order to achieve the intent of
the Parties. Any provision of this Agreement that is determined to be invalid, illegal or unenforceable in any jurisdiction or country
which cannot be adjusted and reformed shall for the purposes of that jurisdiction or country, be voided. Any adjustment, reformation
or voidance of any provisions of this Agreement shall only be effective in the jurisdiction or country requiring such adjustment or voidance,
without affecting in any way the remaining provisions of this Agreement in such jurisdiction or country or adjusting, reforming, voiding
or rendering that provision or any other provision of this Agreement invalid, illegal or unenforceable in any other jurisdiction or country.

 

(m)
Counterpart Execution. This Agreement may be executed in one or more counterparts each of which shall be an original document
and all of which together shall constitute one and the same instrument. The Parties acknowledge that this Agreement may be executed and
delivered by means of electronic signatures and that use and acceptance of electronic signatures to bind the Parties represents the voluntary
agreement and intention of the Parties to conduct this transaction by electronic means. The Parties agree that execution and delivery
by electronic means will have the same legal effect as if signatures had been manually written on this Agreement. This Agreement will
be deemed lawfully executed by the Parties by such action for purposes of any statute or rule of law that requires this Agreement to
be executed by the Parties to make the mutual promises, agreements and obligations of the Parties set forth herein legally enforceable.
Facsimile and .pdf exchanges of signatures will have the same legal force and effect as the exchange of original signatures. The parties
hereby waive any right to raise any defense or waiver based upon the execution of this Agreement by means of electronic signatures in
any proceeding arising under or relating to this Agreement. The Parties agree that the legal effect, validity and enforceability of this
Agreement will not be impaired solely because of its execution in electronic form or that an electronic record was used in its formation.
The Parties acknowledge that they are capable of retaining electronic records of this transaction.

 

    	-17-

    	 

    

 

IN
WITNESS WHEREOF, the Parties hereto have executed this Employment Agreement as of the date forth above.

 

	HILLSTREAM
    BIOPHARMA INC.	 	EXECUTIVE:
	 	 	 
	/s/ Randy Milby	 	/s/ Randy Milby
	Name:	Randy
    Milby	 	Randy D. Milby
	Title:	Chairman
    of Board	 	 	 
	Date:	June
    1, 2021	 	Date:	June
    1, 2021

 

    	-18-

    	 

    

 

EXHIBIT
A

Equity
Terms

 

	Type
    of Award (“Award”)	●	An
                                            award of stock options under the Company’s 2019 Stock Option plan

    

	 	●	Executive’s
                                            Award to equal 20,000,000 million shares at the initial public offering price of the common
                                            stock

    

	 	●	Award
    is evidenced by agreement executed by Executive and the Company
	 	 	 
	Vesting
    of Award	●	Vesting
    shall be monthly over a 48 month period with a 12 month cliff.

 

    	-1-Exhibit 10.2

 

HILLSTREAM
BIOSCIENCES INC.

 

2017
STOCK INCENTIVE PLAN

 

1.
Purpose

 

The
purpose of this 2017 Stock Incentive Plan (the “Plan”) of Hillstream Biosciences Inc., a Delaware corporation
(the “Company”), is to advance the interests of the Company’s stockholders by enhancing the Company’s
ability to attract, retain and motivate persons who are expected to make important contributions to the Company and by providing such
persons with equity ownership opportunities and performance-based incentives that are intended to align their interests with those of
the Company’s stockholders. Except where the context otherwise requires, the term “Company” includes the Company’s
present or future parent or subsidiary corporations as defined in Sections 424(e) or (f) of the Internal Revenue Code of 1986, as amended,
and any regulations promulgated thereunder (the “Code”) and other business ventures (including, without limitation,
any joint venture or limited liability company) in which the Company has a controlling interest, as determined by the Board of Directors
of the Company (the “Board”).

 

2.
Eligibility

 

All
of the Company’s employees, officers, directors, and individual consultants and advisors (each a “Service Provider”)
are eligible to receive options, restricted stock, restricted stock units and other stock-based awards (each, an “Award”)
under the Plan. Each person who receives an Award under the Plan is deemed a “Participant.”

 

3.
Administration and Delegation

 

(a)
Administration by Board of Directors. The Plan shall be administered by the Board. The Board shall have authority to grant Awards
and to adopt, amend and repeal such administrative rules, guidelines and practices relating to the Plan as it shall deem advisable. The
Board may correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Award in the manner and to the extent
it shall deem expedient to carry the Plan into effect and it shall be the sole and final judge of such expediency. All decisions by the
Board shall be made in the Board’s sole discretion and shall be final and binding on all persons having or claiming any interest
in the Plan or in any Award. No director or person acting pursuant to the authority delegated by the Board shall be liable for any action
or determination relating to or under the Plan made in good faith.

 

(b)
Appointment of Committees. To the extent permitted by applicable law, the Board may delegate any or all of its powers under the
Plan to one or more committees or subcommittees of the Board (a “Committee”). All references in the Plan to the “Board”
shall mean the Board or a Committee of the Board to the extent that the Board’s powers or authority under the Plan have been delegated
to such Committee.

 

    	-1-

    	 

    

 

4.
Stock Available for Awards.

 

(a)
Subject to adjustment under Section 8, Awards may be made under the Plan for up to 2,500,000 shares of the common stock of the Company
(the “Common Stock”). If any Award expires or is terminated, surrendered or canceled without having been fully exercised
or is forfeited in whole or in part (including as the result of shares of Common Stock subject to such Award being repurchased by the
Company at the original issuance price pursuant to a contractual repurchase right) or results in any Common Stock not being issued, the
unused Common Stock covered by such Award shall again be available for the grant of Awards under the Plan. Further, shares of Common
Stock tendered to the Company by a Participant to exercise an Award shall be added to the number of shares of Common Stock available
for the grant of Awards under the Plan. However, in the case of Incentive Stock Options (as hereinafter defined), the foregoing provisions
shall be subject to any limitations under the Code. Shares issued under the Plan may consist in whole or in part of authorized but unissued
shares or treasury shares.

 

(b)
Substitute Awards. In connection with a merger or consolidation of an entity with the Company or the acquisition by the Company
of property or stock of an entity, the Board may grant Awards in substitution for any options or other stock or stock-based awards granted
by such entity or an affiliate thereof. Substitute Awards may be granted on such terms as the Board deems appropriate in the circumstances,
notwithstanding any limitations on Awards contained in the Plan. Substitute Awards shall not count against the overall share limit set
forth in Section 4(a), except as may be required by reason of Section 422 and related provisions of the Code.

 

5.
Stock Options

 

(a)
General. The Board may grant options to purchase Common Stock (each, an “Option”) and determine the number
of shares of Common Stock to be covered by each Option, the exercise price of each Option and the conditions and limitations applicable
to the exercise of each Option, including conditions relating to applicable federal or state securities laws, as it considers necessary
or advisable. An Option, or portion of an Option, which is not intended to be or fails to qualify as an Incentive Stock Option (as hereinafter
defined) shall be designated a “Nonstatutory Stock Option.”

 

(b)
Incentive Stock Options. An Option that the Board intends to be an “incentive stock option” as defined in Section
422 of the Code (an “Incentive Stock Option”) shall only be granted to employees of the Company and any other entities
the employees of which are eligible to receive Incentive Stock Options under the Code, and shall be subject to and shall be construed
consistently with the requirements of Section 422 of the Code. A Participant who owns more than 10% of the total combined voting power
of all classes of outstanding stock of the Company shall not be eligible for the grant of an Incentive Stock Option unless (i) the exercise
price is at least 110% of the Fair Market Value (as defined below) on the date the Option is granted and (ii) such Incentive Stock Option
by its terms is not exercisable after the expiration of five years from the date the Option is granted. The Company shall have no liability
to a Participant, or any other party, if an Option (or any part thereof) that is intended to be an Incentive Stock Option is not an Incentive
Stock Option or for any action taken by the Board pursuant to Section 9(g), including without limitation the conversion of an Incentive
Stock Option to a Nonstatutory Stock Option.

 

    	-2-

    	 

    

 

(c)
Exercise Price. The Board shall establish the exercise price of each Option and specify such exercise price in the applicable
option agreement. The exercise price shall be not less than 100% of the Fair Market Value on the date the Option is granted unless the
Board specifically determines that the exercise price is intended to be less than such Fair Market Value, in which case the option agreement
shall contain provisions complying with Section 409A of the Code; provided that if the Board approves the grant of an Option with an
exercise price to be determined on a future date, the exercise price shall be not less than 100% of the Fair Market Value on such future
date. The term “Fair Market Value” shall mean, as of a given date: (i) if the Common Stock is listed on a national
securities exchange, the last sale price of the Common Stock in the principal trading market for the Common Stock on such date; (ii)
if the Common Stock is not listed on a national securities exchange, but is traded in the over-the counter market, the closing bid price
for the Common Stock on such date, as reported by the OTC Bulletin Board or the National Quotation Bureau, Incorporated or similar publisher
of such quotations; or (iii) if the Common Stock is not listed on a national securities exchange or traded in the over-the-counter market,
such price as shall be determined by (or in a manner approved by) the Board in good faith and in compliance with applicable provisions
of the Code and the regulations issued thereunder.

 

(d)
Duration of Options. Each Option shall be exercisable at such times and subject to such terms and conditions as the Board may
specify in the applicable option agreement.

 

(e)
Exercise of Option. Options may be exercised by delivery to the Company of a written notice of exercise signed by the proper person
or by any other form of notice (including electronic notice) approved by the Board together with payment in full as specified in Section
5(f) for the number of shares of Common Stock for which the Option is exercised. Shares of Common Stock subject to the Option will be
delivered by the Company following exercise either as soon as practicable or, subject to such conditions as the Board shall specify,
on a deferred basis (with the Company’s obligation to be evidenced by an instrument providing for future delivery of the deferred
shares at the time or times specified by the Board).

 

(f)
Payment Upon Exercise. Common Stock purchased upon the exercise of an Option granted under the Plan shall be paid for as follows:

 

(1)
in cash or by check, payable to the order of the Company;

 

(2)
except as may otherwise be provided in the applicable option agreement, by (i) delivery of an irrevocable and unconditional undertaking
by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price and any required tax withholding
or (ii) delivery by the Participant to the Company of a copy of irrevocable and unconditional instructions to a creditworthy broker to
deliver promptly to the Company cash or a check sufficient to pay the exercise price and any required tax withholding;

 

(3)
when the Common Stock is registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and
to the extent provided for in the applicable option agreement or approved by the Board, in its sole discretion, by delivery (either by
actual delivery or attestation) of shares of Common Stock owned by the Participant valued at their Fair Market Value, provided (i) such
method of payment is then permitted under applicable law, (ii) such Common Stock, if acquired directly from the Company, was owned by
the Participant for such minimum period of time, if any, as may be established by the Board in its discretion and (iii) such Common Stock
is not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements;

 

    	-3-

    	 

    

 

(4)
to the extent permitted by applicable law and provided for in the applicable option agreement or approved by the Board, in its sole discretion,
by (i) delivery of a promissory note of the Participant to the Company on terms determined by the Board, or (ii) payment of such other
lawful consideration as the Board may determine; or

 

(5)
by any combination of the above permitted forms of payment.

 

6.
Restricted Stock; Restricted Stock Units

 

(a)
General. The Board may grant Awards entitling recipients to acquire shares of Common Stock (“Restricted Stock”),
subject to the right of the Company to repurchase all or part of such shares at their issue price or other stated or formula price (or
to require forfeiture of such shares if issued at no cost) from the recipient in the event that conditions specified by the Board in
the applicable Award are not satisfied prior to the end of the applicable restriction period or periods established by the Board for
such Award. Instead of granting Awards for Restricted Stock, the Board may grant Awards entitling the recipient to receive shares of
Common Stock to be delivered at the time such shares of Common Stock vest (“Restricted Stock Units”) (Restricted Stock
and Restricted Stock Units are each referred to herein as a “Restricted Stock Award”).

 

(b)
Terms and Conditions. The Board shall determine the terms and conditions of a Restricted Stock Award, including the conditions
for repurchase (or forfeiture) and the issue price, if any.

 

(c)
Additional Provisions Relating to Restricted Stock.

 

(1)
Dividends. Participants holding shares of Restricted Stock will be entitled to all ordinary cash dividends paid with respect to
such shares, unless otherwise provided by the Board. If any such dividends or distributions are paid in shares, or consist of a dividend
or distribution to holders of Common Stock other than an ordinary cash dividend, the shares, cash or other property will be subject to
the same restrictions on transferability and forfeitability as the shares of Restricted Stock with respect to which they were paid. Each
dividend payment will be made no later than the end of the calendar year in which the dividends are paid to stockholders of that class
of stock or, if later, the 15th day of the third month following the date the dividends are paid to stockholders of that class of stock.

 

(2)
Stock Certificates. The Company may require that any stock certificates issued in respect of a Restricted Stock Award shall be
registered in the name of the Participant and be deposited by the Participant, together with a stock power endorsed in blank, with the
Company (or its designee). After the expiration of the applicable restriction periods, upon request of a Participant or as otherwise
determined by the Company, the Company (or such designee) shall deliver the certificates no longer subject to such restrictions to the
Participant or if the Participant has died, to the beneficiary designated, in a manner determined by the Board, by a Participant to receive
amounts due or exercise rights of the Participant in the event of the Participant’s death (the “Designated Beneficiary”).
In the absence of an effective designation by a Participant, “Designated Beneficiary” shall mean the Participant’s
then living spouse, or, if none, the Participant’s estate.

 

    	-4-

    	 

    

 

7.
Other Stock-Based Awards

 

Other
Awards of shares of Common Stock, and other Awards that are valued in whole or in part by reference to, or are otherwise based on, shares
of Common Stock or other property, may be granted hereunder to Participants (“Other Stock-Based Awards”), including
without limitation stock appreciation rights and Awards entitling recipients to receive shares of Common Stock to be delivered in the
future. Such Other Stock-Based Awards shall also be available as a form of payment in the settlement of other Awards granted under the
Plan or as payment in lieu of compensation to which a Participant is otherwise entitled. Other Stock-Based Awards may be paid in shares
of Common Stock or cash, as the Board shall determine. Subject to the provisions of the Plan, the Board shall determine the conditions
of each Other Stock-Based Award, including any purchase price applicable thereto.

 

8.
Adjustments for Changes in Common Stock and Certain Other Events

 

(a)
Changes in Capitalization. In the event of any stock split, reverse stock split, stock dividend, recapitalization, combination
of shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any dividend or distribution to
holders of Common Stock other than an ordinary cash dividend, (i) the number and class of securities available under this Plan, (ii)
the number and class of securities and exercise price per share of each outstanding Option, (iii) the number of shares subject to and
the repurchase price per share subject to each outstanding Restricted Stock Award, and (iv) the terms of each other outstanding Award
shall be equitably adjusted by the Company (or substituted Awards may be made, if applicable) in the manner determined by the Board.
Without limiting the generality of the foregoing, in the event the Company effects a split of the Common Stock by means of a stock dividend
and the exercise price of and the number of shares subject to an outstanding Option are adjusted as of the date of the distribution of
the dividend (rather than as of the record date for such dividend), then an optionee who exercises an Option between the record date
and the distribution date for such stock dividend shall be entitled to receive, on the distribution date, the stock dividend with respect
to the shares of Common Stock acquired upon such Option exercise, notwithstanding the fact that such shares were not outstanding as of
the close of business on the record date for such stock dividend.

 

(b)
Change in Control

 

(1)
Definition. Unless otherwise specifically provided in an Award agreement, a “Change in Control” shall be deemed
to have occurred upon the first to occur of:

 

(i)
any “person” (as such term is used in sections 13(d) and 14(d) of the Exchange Act) becoming a “beneficial owner”
(as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing either (A) more
than a majority of the voting power of the then outstanding securities of the Company, or (B) more than a majority of the aggregate fair
market value of the then outstanding securities of the Company; provided, however, that a Change in Control shall not be
deemed to occur as a result of (x) a transaction in which the Company becomes a subsidiary of another corporation and in which the stockholders
of the Company, immediately prior to the transaction, will beneficially own, immediately after the transaction, shares entitling such
stockholders to more than majority of all votes to which all stockholders of the parent corporation would be entitled in the election
of directors, or (y) a transaction in which the person acquires newly issued securities of the Company in exchange for an investment
in the Company; or

 

    	-5-

    	 

    

 

(ii)
the consummation of either: (A) a merger, share exchange, consolidation or reorganization of the Company where the stockholders of the
Company, immediately prior to the merger or consolidation, will not beneficially own, immediately after the merger, share exchange, consolidation
or reorganization, shares entitling such stockholders to either (x) more than a majority of all votes to which all stockholders of the
surviving corporation would be entitled in the election of directors, or (y) more than a majority of the aggregate fair market value
of then outstanding securities of the Company; or (B) a sale or other disposition of all or substantially all of the assets of the Company.

 

(2)
Consequences of a Change in Control on Awards Other than Restricted Stock Awards. In connection with a Change in Control, the
Board may take any one or more of the following actions as to all (or any portion of) outstanding Awards other than Restricted Stock
Awards on such terms as the Board determines: (i) provide that Awards shall be assumed, or substantially equivalent Awards shall be substituted,
by the acquiring or succeeding corporation (or an affiliate thereof) in compliance with the applicable provisions of the Code, including
Code Sections 409A, 422 and 424, (ii) upon written notice to a Participant, provide that the Participant’s unexercised Options
or other unexercised Awards will terminate immediately prior to the consummation of such Change in Control unless exercised by the Participant
within a specified period following the date of such notice, (iii) provide that outstanding Awards shall become exercisable, realizable
or deliverable, or restrictions applicable to an Award shall lapse, in whole or in part prior to or upon such Change in Control, (iv)
in the event of a Change in Control under the terms of which holders of Common Stock will receive upon consummation thereof a cash payment
for each share surrendered in the Change in Control (the “Acquisition Price”), make or provide for a cash payment
to a Participant equal to the excess, if any, of (A) the Acquisition Price times the number of shares of Common Stock subject to the
Participant’s Options or other Awards (to the extent the exercise price does not exceed the Acquisition Price) less (B) the aggregate
exercise price of all such outstanding Options or other Awards and any applicable tax withholdings, in exchange for the termination of
such Options or other Awards, (v) provide that, in connection with a liquidation or dissolution of the Company, Awards shall convert
into the right to receive liquidation proceeds (if applicable, net of the exercise price thereof) and (vi) any combination of the foregoing.
In taking any of the actions permitted under this Section 8(b), the Board shall not be obligated by the Plan to treat all Awards, or
all Awards of the same type, identically.

 

For
purposes of clause (i) above, an Option shall be considered assumed if, following consummation of the Change in Control, the Option confers
the right to purchase, for each share of Common Stock subject to the Option immediately prior to the consummation of the Change in Control,
the consideration (whether cash, securities or other property) received as a result of the Change in Control by holders of Common Stock
for each share of Common Stock held immediately prior to the consummation of the Change in Control (and if holders were offered a choice
of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares of Common Stock); provided,
however, that if the consideration received as a result of the Change in Control is not solely common stock of the acquiring or
succeeding corporation (or an affiliate thereof), the Company may, with the consent of the acquiring or succeeding corporation, provide
for the consideration to be received upon the exercise of Options to consist solely of common stock of the acquiring or succeeding corporation
(or an affiliate thereof) with equivalent in value (as determined by the Board) to the per share consideration received by holders of
outstanding shares of Common Stock as a result of the Change in Control.

 

    	-6-

    	 

    

 

(3)
Consequences of a Change in Control on Restricted Stock Awards. Upon the occurrence of a Change in Control other than a liquidation
or dissolution of the Company, the repurchase and other rights of the Company under each outstanding Restricted Stock Award shall inure
to the benefit of the Company’s successor and shall, unless the Board determines otherwise, apply to the cash, securities or other
property which the Common Stock was converted into or exchanged for pursuant to such Change in Control in the same manner and to the
same extent as they applied to the Common Stock subject to such Restricted Stock Award. Upon the occurrence of a Change in Control involving
the liquidation or dissolution of the Company, except to the extent specifically provided to the contrary in the instrument evidencing
any Restricted Stock Award or any other agreement between a Participant and the Company, all restrictions and conditions on all Restricted
Stock Awards then outstanding shall automatically be deemed terminated or satisfied.

 

9.
General Provisions Applicable to Awards

 

(a)
Transferability of Awards. Except as the Board may otherwise expressly determine or provide in an Award, Awards shall not be sold,
assigned, transferred, pledged or otherwise encumbered by the person to whom they are granted, either voluntarily or by operation of
law, except by will or the laws of descent and distribution or, other than in the case of an Incentive Stock Option, pursuant to a qualified
domestic relations order, and, during the life of the Participant, shall be exercisable only by the Participant. References to a Participant,
to the extent relevant in the context, shall include references to authorized transferees.

 

(b)
Documentation. Unless otherwise expressly determined by the Board, each Incentive Stock Option shall be evidenced by a Notice
of Incentive Stock Option and Incentive Stock Option Agreement substantially in the form attached as Exhibit A, each Nonstatutory
Stock Option shall be evidenced by a Notice of Nonstatutory Stock Option and Nonstatutory Stock Option Agreement substantially in the
form attached as Exhibit B, and each Restricted Stock Award shall be evidenced by a Summary of Restricted Stock Purchase
and Restricted Stock Purchase Agreement substantially in the form attached as Exhibit C. Each Award may contain terms and
conditions in addition to those set forth in the Plan.

 

(c)
Board Discretion. Except as otherwise provided by the Plan, each Award may be made alone or in addition or in relation to any
other Award. The terms of each Award need not be identical, and the Board need not treat Participants uniformly.

 

(d)
Termination of Status. The Board shall determine the effect on an Award of the disability, death, termination of employment, authorized
leave of absence or other change in the employment or other status of a Participant and the extent to which, and the period during which,
the Participant, or the Participant’s legal representative, conservator, guardian or Designated Beneficiary, may exercise rights
under the Award.

 

    	-7-

    	 

    

 

 (e)
Withholding. The Participant must satisfy all applicable federal, state, and local or other income and employment tax withholding
obligations before the Company will deliver stock certificates or otherwise recognize ownership of Common Stock under an Award. The Company
may decide to satisfy the withholding obligations through additional withholding on salary or wages. If the Company elects not to or
cannot withhold from other compensation, the Participant must pay the Company the full amount, if any, required for withholding or have
a broker tender to the Company cash equal to the withholding obligations. Payment of withholding obligations is due before the Company
will issue any shares on exercise or release from forfeiture of an Award or, if the Company so requires, at the same time as is payment
of the exercise price unless the Company determines otherwise. If provided for in an Award or approved by the Board in its sole discretion,
a Participant may satisfy such tax obligations in whole or in part by delivery of shares of Common Stock, including shares retained from
the Award creating the tax obligation, valued at their Fair Market Value; provided, however, except as otherwise provided
by the Board, that the total tax withholding where stock is being used to satisfy such tax obligations cannot exceed the Company’s
minimum statutory withholding obligations (based on minimum statutory withholding rates for federal and state tax purposes, including
payroll taxes, that are applicable to such supplemental taxable income). Shares surrendered to satisfy tax withholding requirements cannot
be subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements.

 

(f)
Amendment of Award.

 

(1)
The Board may amend, modify or terminate any outstanding Award, including but not limited to, substituting therefor another Award of
the same or a different type, changing the date of exercise or realization, and converting an Incentive Stock Option to a Nonstatutory
Stock Option, provided that the Participant’s consent to such action shall be required unless the Board determines that the action,
taking into account any related action, would not materially and adversely affect the Participant.

 

(2)
The Board may, without stockholder approval, amend any outstanding Award granted under the Plan to provide an exercise price per share
that is lower than the then-current exercise price per share of such outstanding Award provided that such amended exercise price is at
least equal to the then-current Fair Market Value. The Board may also, without stockholder approval, cancel any outstanding award (whether
or not granted under the Plan) and grant in substitution new Awards under the Plan covering the same or a different number of shares
of Common Stock and having an exercise price per share lower than the then-current exercise price per share of the cancelled award.

 

(g)
Conditions on Delivery of Stock. The Company will not be obligated to deliver any shares of Common Stock pursuant to the Plan
or to remove restrictions from shares previously delivered under the Plan until (i) all conditions of the Award have been met or removed
to the satisfaction of the Company, (ii) in the opinion of the Company’s counsel, all other legal matters in connection with the
issuance and delivery of such shares have been satisfied, including any applicable securities laws and any applicable stock exchange
or stock market rules and regulations, and (iii) the Participant has executed and delivered to the Company such representations or agreements
as the Company may consider appropriate to satisfy the requirements of any applicable laws, rules, regulations or contracts of the Company.

 

    	-8-

    	 

    

 

(h)
Acceleration. The Board may at any time provide that any Award shall become immediately exercisable in full or in part, free of
some or all restrictions or conditions, or otherwise realizable in full or in part, as the case may be.

 

10.
Miscellaneous

 

(a)
No Right To Employment or Other Status. No person shall have any claim or right to be granted an Award, and the grant of an Award
shall not be construed as giving a Participant the right to continued employment or any other relationship with the Company. The Company
expressly reserves the right at any time to dismiss or otherwise terminate its relationship with a Participant free from any liability
or claim under the Plan, except as expressly provided in the applicable Award.

 

(b)
No Rights As Stockholder. Subject to the provisions of the applicable Award, no Participant or Designated Beneficiary shall have
any rights as a stockholder with respect to any shares of Common Stock to be distributed with respect to an Award until becoming the
record holder of such shares. Notwithstanding the foregoing, in the event the Company effects a split of the Common Stock by means of
a stock dividend or otherwise and the exercise price of and the number of shares subject to such Option are adjusted as of the effective
date of the stock dividend or split (rather than as of the record date for such stock dividend or split), then an optionee who exercises
an Option between the record date and the distribution date for such stock dividend or split shall be entitled to receive, on the distribution
date, the stock dividend or split with respect to the shares of Common Stock acquired upon such Option exercise, notwithstanding the
fact that such shares were not outstanding as of the close of business on the record date for such stock dividend or split.

 

(c)
Effective Date and Term of Plan. The Plan shall become effective on the date on which it is adopted by the Board. No Awards shall
be granted under the Plan after the expiration of 10 years from the earlier of (i) the date on which the Plan was adopted by the Board
or (ii) the date the Plan was approved by the Company’s stockholders, but Awards previously granted may extend beyond that date.

 

(d)
Amendment of Plan. The Board may amend, suspend or terminate the Plan or any portion thereof at any time; provided, however,
that if at any time the approval of the Company’s stockholders is required as to any modification or amendment under Section 422
of the Code or any successor provision with respect to Incentive Stock Options, the Board may not effect such modification or amendment
without such approval. Unless otherwise specified in the amendment, any amendment to the Plan adopted in accordance with this Section
10(d) shall apply to, and be binding on the holders of, all Awards outstanding under the Plan at the time the amendment is adopted, provided
the Board determines that such amendment does not materially and adversely affect the rights of Participants under the Plan.

 

(e)
Authorization of Sub-Plans. The Board may from time to time establish one or more sub- plans under the Plan for purposes of satisfying
applicable blue sky, securities or tax laws of various jurisdictions. The Board shall establish such sub-plans by adopting supplements
to this Plan containing (i) such limitations on the Board’s discretion under the Plan as the Board deems necessary or desirable
or (ii) such additional terms and conditions not otherwise inconsistent with the Plan as the Board shall deem necessary or desirable.
All supplements adopted by the Board shall be deemed to be part of the Plan, but each supplement shall apply only to Participants within
the affected jurisdiction and the Company shall not be required to provide copies of any supplement to Participants in any jurisdiction
which is not the subject of such supplement.

 

    	-9-

    	 

    

 

(f)
Non-Plan Equity-Based Awards. Nothing in this Plan is intended to, or shall, impair or affect the Board’s ability to make
non-Plan equity-based awards.

 

(g)
Compliance with Code Section 409A. It is intended that all Awards granted hereunder be either exempt from, or issued in compliance
with, Code Section 409A. The Company shall have no liability to a Participant, or any other party, if an Award that is intended to be
exempt from, or compliant with, Code Section 409A is not so exempt or compliant, or for any action taken by the Board.

 

(h)
Governing Law. The provisions of the Plan and all Awards made hereunder shall be governed by and construed in accordance with
the General Corporation Law of the State of Delaware, as to matters within the scope thereof, and the internal laws of the State of North
Carolina (without reference to conflict of law provisions), as to all other matters.

 

*
* * * * * * *

 

    	-10-

    	 

    

 

HILLSTREAM
BIOSCIENCES INC.

 

2017
STOCK INCENTIVE PLAN

 

CALIFORNIA
SUPPLEMENT

 

Pursuant
to Section 10(e) of the Plan, the Board has adopted this supplement for purposes of satisfying the requirements of Section 25102(o) of
the California Corporations Code, as amended:

 

Any
Awards granted under the Plan to a Participant who is a resident of the State of California on the date of grant (a “California
Participant”) shall be subject to the following additional limitations, terms and conditions:

 

1.
Additional Limitations on Awards.

 

(a)
Generally. The terms of all Awards granted to a California Participant under Sections 5, 6 or 7 of the Plan shall comply, to the
extent applicable, with Section 260.140.41 or Section 260.140.42 of the California Regulations.

 

(b)
Maximum Duration of Options. No Options granted to California Participants shall have a term in excess of 10 years measured from
the Option grant date.

 

(c)
Minimum Exercise Period Following Termination. Unless a California Participant’s employment is terminated for cause (as
defined by applicable law, the terms of any contract of employment between the Company and such Participant, or in the instrument evidencing
the grant of such Participant’s Option), in the event of termination of employment of such Participant, such Participant shall
have the right to exercise an Option, to the extent that he or she was otherwise entitled to exercise such Option on the date employment
terminated, until the earlier of the Option expiration date or: (i) at least six months from the date of termination, if termination
was caused by such Participant’s death or “permanent and total disability” (within the meaning of Section 22(e)(3)
of the Code) and (ii) at least 30 days from the date of termination, if termination was caused other than by such Participant’s
death or “permanent and total disability” (within the meaning of Section 22(e)(3) of the Code).

 

2.
Additional Requirement to Provide Information to California Participants. Unless the Plan or agreement complies with all conditions
of Rule 701 of the Securities Act of 1933, as amended (“Rule 701”), the Company shall provide to each California Participant
and to each California Participant who acquires Common Stock pursuant to the Plan, not less frequently than annually, copies of annual
financial statements (which need not be audited). The Company shall not be required to provide such statements to key employees whose
duties in connection with the Company assure their access to equivalent information or when the Plan or agreement complies with all conditions
of Rule 701.

 

3.
Additional Limitations on Timing of Awards. No Award granted to a California Participant shall become exercisable, vested or realizable,
as applicable to such Award, unless the Plan has been approved by the holders of at least a majority of the Company’s outstanding
voting securities by the later of (i) within 12 months before or after the date the Plan was adopted by the Board or the agreement entered
into; and (ii) prior to or within 12 months of the granting of any option or issuance of any security under the Plan or agreement to
a California Participant.

 

4.
Additional Restriction Regarding Recapitalizations, Stock Splits, Etc. For purposes of Section 8 of the Plan, in the event of
a stock split, reverse stock split, stock dividend, recapitalization, combination, reclassification or other distribution of the Company’s
securities, the number of securities allocated to each California Participant must be adjusted proportionately and without the receipt
by the Company of any consideration from any California Participant.

 

    	-11-

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