Document:

mtcr-ex101_212.htm

 

Exhibit 10.1

 

METACRINE, INC.

 

AMENDED AND RESTATED CONSULTING AGREEMENT

This Amended and Restated Consulting Agreement (this “Agreement”) is made as of March 10, 2021 (the “Effective Date”) by and between Metacrine, Inc., a Delaware corporation (the “Company”) located at 3985 Sorrento Valley Blvd, Suite C, San Diego, California 92121, and Jeff Jonker (“Consultant”) an individual.

 

Whereas, the Company and Consultant entered into that certain Consulting Services Agreement dated December 9, 2020 (the “Original Agreement”); and 

 

Whereas, the parties desire to amend certain terms of the Original Agreement.  Accordingly, Company and Consultant agree as follows:

1.Engagement of Services.  Consultant agrees to provide consulting services to Company as described in Exhibit A hereto (collectively, the “Services”) during the term of this Agreement.  It is anticipated that Consultant will provide up to eight (8) hours of Services per week.  Consultant may not subcontract or otherwise delegate Consultant’s obligations under this Agreement without Company’s prior written consent as it in its sole discretion determines.  Consultant shall at all times use commercially reasonable best efforts and all due diligence in performing the Services. All Services shall be performed in accordance with (i) generally accepted professional standards and applicable laws, rules and regulations; (ii) Company policies and procedures; and (iii) to Company’s reasonable satisfaction. To the extent any of the Services require Consultant to possess any professional or other licenses, Consultant shall maintain such licensure(s) in good standing throughout the Term (as defined herein).  

2.Compensation.  In consideration of satisfactorily performing the Services, Company will pay to Consultant the fees on the schedule specified in Exhibit A hereto (“Fees”).  Company will reimburse reasonable out-of-pocket expenses, if any, incurred by Consultant in the performance of the Services provided such are pre-approved in writing by Company (“Authorized Expenses”) (Fees and Authorized Expenses, collectively, the “Compensation”). The Compensation shall be Consultant’s sole remuneration unless the parties agree otherwise in writing. Consultant shall submit invoices to Company on a monthly basis for all Services provided and Authorized Expenses incurred during the preceding month. Each invoice shall include a detailed description of the Services performed delineated by project or task, as applicable, and a detailed description of the Authorized Expenses with all required receipts. All invoices must be sent to: ap@metacrine.com. Payment terms are net thirty (30) days. Consultant understands that Company will report Consultant’s compensation and reimbursed expenses under this Agreement to the extent Company, in its sole opinion, believes that it is required to do so by applicable laws or regulations.

3.Independent Contractor Relationship.  Consultant’s relationship with Company will be that of an independent contractor and not an employee of Company for any purpose.  Consultant is not the agent of Company and is not authorized to make any representation, contract, or commitment on behalf of Company.  Consultant will not be entitled to any of the benefits that 

 

 

Company may make available to its employees.  Because Consultant is an independent contractor, Company will not withhold or make payments for social security, make unemployment insurance or disability insurance contributions, or obtain worker’s compensation insurance on Consultant’s behalf.  Consultant accepts exclusive liability for complying with all applicable state and federal laws governing self-employed individuals and agrees to indemnify and defend Company against any and all such taxes or contributions, including penalties and interest.  

	
4.
	
Confidentiality.

4.1Definition. “Proprietary Information” means: (a) trade secrets, inventions, mask works, ideas, processes, formulas, source and object codes, data, programs, other works of authorship, know-how, improvements, discoveries, developments, designs and techniques; (b) information regarding plans for research, development, new products, marketing and selling, business plans, budgets and nonpublic financial statements, licenses, prices and costs, suppliers, partners and customers; and (c) information regarding the skills and compensation of other employees of Company. In addition, and notwithstanding any other provision of this Agreement to the contrary, Inventions and Materials (defined below) shall constitute Proprietary Information.  

4.2Non-Use and Non-Disclosure. Consultant agrees that during the Term of this Agreement and for a period of five (5) years after the termination hereof, that it will take all steps reasonably necessary to hold Company’s Proprietary Information in trust and confidence, will not use Proprietary Information in any manner or for any purpose not expressly set forth in this Agreement, and will not disclose any such Proprietary Information to any third party without first obtaining Company’s express written consent.  Consultant agrees that Proprietary Information shall remain the sole property of Company.  Consultant further agrees to take all reasonable precautions to prevent any unauthorized disclosure of Proprietary Information.  

4.3Third Party Information. Consultant understands that Company has received and will in the future receive from third parties confidential or proprietary information (“Third Party Information”) subject to a duty on Company’s part to maintain the confidentiality of such information and use it only for certain limited purposes.  Consultant agrees to hold Third Party Information in confidence and not to disclose to anyone (other than Company personnel who need to know such information in connection with their work for Company) or to use, except in connection with Consultant’s work for Company, Third Party Information unless expressly authorized in writing by an officer of Company.

4.4Return of Information. Consultant shall upon termination of this Agreement or as earlier requested by Company, return to Company any and all parts of the Proprietary Information provided by Company and will return or destroy (and provide a certificate of destruction) any copies or other tangible or electronic embodiments thereof; provided that Consultant may retain one (1) copy of Company’s Proprietary Information for archival purposes, subject to the ongoing obligations of nondisclosure and nonuse.  In the event Consultant has any additional copies on Consultant’s standard computer backup systems, if not possible to destroy those copies, Consultant 

 

 

 

must ensure that access to those backup copies is denied.  

	
5.
	
Intellectual Property.

5.1Ownership of Inventions and Materials. As used herein “Inventions and Materials” means all works conceived, created, produced, discovered or tendered by Consultant pursuant to this Agreement in performing the Services hereunder, including without limitation, any copyrightable material, deliverables, software, notes, records, writings, reports, programs, drawings, designs, inventions, improvements, developments, discoveries, trade secrets, etc. in all media formats (paper, computer file, disk, tape, etc.)  Consultant agrees that all such Inventions and Materials are the sole and exclusive property of Company.  Consultant shall promptly disclose all Inventions and Materials to Company and hereby irrevocably assigns, sells and transfers exclusively to Company all right, title, and interest including, without limitation all copyrights and worldwide intellectual property rights for perpetuity (or for the longest period of time otherwise permitted by law) in the Inventions and Materials.  For avoidance of doubt, Inventions and Materials shall not include any pre-existing works (or inventions thereto) independently developed by Consultant outside of the course and scope of this Agreement and made without the use of any Company Proprietary Information, materials, supplies, facilities or equipment, the title and interest of which shall vest in Consultant.  Consultant warrants and represents that none of the Services or any Inventions or Materials provided to Company hereunder shall infringe or misappropriate any third-party intellectual property rights.

5.2Assignment. Consultant agrees to assign (or shall cause to be assigned) and does hereby assign fully to Company all Inventions and Materials and any copyrights, patents, trade secrets, mask work rights and other intellectual property rights relating thereto. Consultant shall deliver the originals and all copies of the same to Company upon the termination of this Agreement. Consultant hereby assigns and agrees to assign to Company or its designee all rights including copyright in any such information and materials.

5.3Assistance. Consultant agrees to assist Company, or its designee, at the Company’s expense, in every proper way to secure Company’s rights in the Inventions and Materials and any copyrights, patents, mask work rights or other intellectual property rights relating thereto in any and all countries, including the disclosure to Company of all pertinent information and data with respect thereto, the execution of all applications, specifications, oaths, assignments and all other instruments which Company shall deem necessary in order to apply for and obtain such rights and in order to assign and convey to Company, its successors, assigns and nominees the sole and exclusive right, title and interest in and to such Inventions and Materials, and any copyrights, patents, mask work rights or other intellectual property rights relating thereto. Consultant further agrees that Consultant’s obligation to execute or cause to be executed, when it is in Consultant’s power to do so, any such instrument or papers shall continue after the termination of this Agreement.  Consultant agrees that if Company is unable because of Consultant’s unavailability, dissolution,  incapacity, or for any other reason, to secure Consultant’s signature to apply for or to pursue any application for any United States or foreign patents or mask work or copyright registrations covering the Inventions and Materials assigned to Company and its duly authorized officers and agents as Consultant’s agent and attorney in fact, to act for and in Consultant’s behalf and stead to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of patents, copyright and mask work registrations thereon with the same legal force and effect as if 

 

 

 

executed by Consultant. 

5.4License. Consultant agrees that if in the course of performing the Services, Consultant incorporates into any Inventions and Materials developed hereunder any invention, improvement, development concept, discovery or other proprietary information owned by Consultant or in which Consultant has an interest, Company is hereby granted and shall have a nonexclusive, royalty-free, fully paid-up, perpetual, irrevocable, worldwide license, with right to sublicense, to reproduce, prepare derivative works of, publicly perform, publicly display in any form or medium, whether now known or later developed, distribute (by any means known or hereafter developed, including without limitation electronic and Internet distribution), make have made, use, sell, offer for sale, and import such item as part of or in connection with such Inventions and Materials.

5.5Publications. Consultant shall not present or publish, or submit for publication, any work describing or resulting from the Services without the prior written consent of Company.

6.Conflict of Interest.  Consultant represents and warrants that the terms of this Agreement do not violate the terms of any other contractual or legal obligation Consultant may owe to any employer, affiliated institute or other third party or any applicable policy of such employer, affiliated institution or third party. Consultant agrees, during the term of this Agreement, not to accept work or enter into a contract or accept an obligation, inconsistent or incompatible with Consultant’s obligations under this Agreement or the scope of Services rendered for Company.  In no event shall Consultant use in the performance of the Services, disclose to Company, or induce Company to use any confidential information that belongs to anyone other than Company or Consultant.  Consultant will indemnify Company and hold it harmless from and against all claims, liabilities, damages and expenses, including reasonable attorneys' fees and costs of suit, arising out of or in connection with any violation or claimed violation by Company of such third party's rights resulting in whole or in part from Company's use of the work product or deliverables provided by Consultant under this Agreement.

7.Sanctions or Debarment. Consultant represents and warrants that Consultant is not and has never been: (i) sanctioned by the Office of Inspector General (“OIG”) of the Department of Health and Human Services, barred from participating in government health care programs, or convicted of a criminal offense with respect to health care reimbursement; or (ii) debarred under Section 306(a) or (b) of the Federal Food, Drug and Cosmetic Act, or a stockholder in, or otherwise affiliated with any person or entity who has been so debarred. Consultant shall immediately notify Company, in writing, if the foregoing representation becomes untrue, or if Consultant is notified by the OIG, the FDA or other enforcement agency that an investigation of Consultant has begun which could lead to such sanction, debarment or conviction.‬‬

8.Compliance with Law. Each party shall perform its obligations under this Agreement in compliance with all applicable federal and state laws, regulations, guidance, and ethical standards. The parties acknowledge and agree that the Services do not involve the counseling or 

 

 

 

promotion of any activity that violates any state or federal law.‬‬

9.Termination.

9.1Term.  The term of this Agreement shall commence on December 9, 2020 and shall remain in full force and effect until May 9, 2021 unless terminated earlier as set forth below (“Term”).

9.2Termination of Agreement.  Either party may terminate this Agreement for convenience, for any or no reason, at any time upon thirty (30) days prior written notice to the other party.  Either party may terminate this Agreement for cause upon written notice to the other party, if the other party breaches this Agreement and does not cure the breach within thirty (30) days following receipt of written notice thereof from the non-breaching party.  Such right to terminate this Agreement for cause shall be in addition to any other remedies available to the terminating party at law or in equity.

9.3Noninterference with Business.  During the term of this Agreement and for a period of one (1) year immediately following termination of this Agreement by either party, Company and Consultant agree not to solicit or induce any employee or independent contractor to terminate or breach an employment, contractual, or other relationship with the non-soliciting party.

9.4Pre-Existing Rights; Survival.  The termination of this Agreement shall not affect in any way the rights and obligations of either party which have accrued prior to such event or in connection therewith.  The following provisions shall survive termination of this Agreement and all definitions necessary to interpret the foregoing:  Sections 3, 4, 5, 6, 9.3, 9.4 and 10.

	
10.
	
General Provisions.

10.1Governing Law.  This Agreement will be governed by and construed in accordance with the laws of the State of California as applied to transactions taking place wholly within California between California residents.  

10.2Insurance.  Upon Company’s written request to Consultant, Consultant shall secure and maintain at Consultant’s expense commercial general liability and professional liability (errors and omissions) insurance in an amount adequate to cover all loss, damage, liability or costs with respect to the Services performed hereunder within thirty (30) days of such written request.  Such insurance shall be with insurers with an A.M. Best rating of A-VIII or better, or equivalent from another rating body.  If any insurance required hereunder is on a “claims made basis,” Consultant shall arrange for an extended reporting period for four (4) years after the termination of this Agreement. At Company’s request, Consultant shall furnish to Company true and correct copies of the certificates of insurance indicating such coverage.‬‬

10.3Product Information/Adverse Event Reporting. To the extent any Services performed by Consultant pursuant to this Agreement result in Consultant’s collection, receipt or other form of knowledge of any information about Company’s medicinal or biological product(s) (“Product(s)”), from any source, in any form, relating to a Medication Error, Product Adverse Events, Product Quality Complaints, and/or Pregnancy Information (“Reportable Information”), Consultant represents and warrants that it shall cooperate with Company as set forth in this 

 

 

 

provision.  Consultant shall preserve the original record of such Reportable Information and within one (1) business day of the day on which such Reportable Information was received or otherwise became known to Consultant, submit a copy of such records and information to Company:  (i) identifying and providing full contact information for both the person receiving the Reportable Information and the Consultant personnel submitting it to Company; (ii) stating the date on which the Reportable Information was received by Consultant, and (iii) describing the Product(s) in question and the event underlying the Reportable Information, including identifying the subject thereof.  For purposes of this Section, the capitalized terms used herein shall have the following definitions: (1) an “Adverse Event” is any undesirable event or experience associated with the use of Product(s) in humans, whether or not expected, and whether or not considered related to or caused by the Product(s), including, but not limited to, an event or experience that occurs in the course of the use of the Product(s) in professional medical practice, including without limitation, from overdose whether accidental or intentional, from abuse, from withdrawal, from a failure of expected pharmacological or biological therapeutic action of the Product(s); (2) a “Medication Error” is any preventable event that may cause or lead to inappropriate medication use or patient harm while the medication is in the control of the health care professional, patient, or consumer (whether related to professional medical practice, health care products, procedures, and systems including: prescribing, order communication, product labeling, packaging, and nomenclature, compounding, dispensing, distribution, administration, education, monitoring; and use of Product(s) or otherwise); (3) “Pregnancy Information” is any information pertaining to a patient’s experience with Product(s) during or affecting pregnancy and (4) a “Product Quality Complaint” is any expression of dissatisfaction with the quality of a Product(s) or a reported failure of Product(s) attributes or specifications.

10.4Severability.  In case any one or more of the provisions contained in this Agreement shall, for any reason, be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect the other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal, or unenforceable provision had never been contained herein.  If moreover, any one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad as to duration, geographical scope, activity, or subject, it shall be construed by limiting and reducing it, so as to be enforceable to the extent compatible with the applicable law as it shall then appear.

10.5No Assignment.  This Agreement may not be assigned by Consultant without Company’s consent, and any such attempted assignment shall be void and of no effect. The Company may assign its rights and obligations hereunder to an affiliate or to any person or entity that succeeds to all or substantially all of the Company’s business to which this Agreement relates, whether by merger, acquisition or other means.

10.6Notices.  All notices, requests, and other communications under this Agreement must be in writing and must be mailed by registered or certified mail, postage prepaid and return receipt requested, or delivered by hand to the party to whom such notice is required or permitted to be given.  If mailed, any such notice will be considered to have been given five (5) business days after it was mailed, as evidenced by the postmark.  If delivered by hand, any such notice will be considered to have been given when received by the party to whom notice is given, as evidenced by written and dated receipt of the receiving party.  The mailing address for notice to either party will be the address shown on the signature page of this Agreement.  Either party may change its 

 

 

 

mailing address by notice as provided by this section.

10.7Legal Fees.  If any dispute arises between the parties with respect to the matters covered by this Agreement which leads to a proceeding to resolve such dispute, the prevailing party in such proceeding shall be entitled to receive its reasonable attorneys’ fees, expert witness fees, and out-of-pocket costs incurred in connection with such proceeding, in addition to any other relief it may be awarded.

10.8Injunctive Relief.  A breach of any of the promises or agreements contained in this Agreement may result in irreparable and continuing damage to Company for which there may be no adequate remedy at law, and Company is therefore entitled to seek injunctive relief as well as such other and further relief as may be appropriate.

10.9Waiver.  No waiver by Company of any breach of this Agreement shall be a waiver of any preceding or succeeding breach.  No waiver by Company of any right under this Agreement shall be construed as a waiver of any other right.  Company shall not be required to give notice to enforce strict adherence to all terms of this Agreement.

10.10Entire Agreement.  This Agreement is the final, complete, and exclusive agreement of the parties with respect to the subject matter hereof.  This Agreement supersedes all prior discussions between the parties.  No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, will be effective unless in writing and signed by the party to be charged.  The terms of this Agreement will govern all Services undertaken by Consultant for Company.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

 

 

In Witness Whereof, the parties have caused this Consulting Agreement to be executed by their duly authorized representative.

 

Metacrine, Inc.

 

 

		
	
By:
	
/s/ Preston Klassen

	
 
	
Preston Klassen, President and CEO

 

Address:   3985 Sorrento Valley Blvd, Suite C, San Diego, CA 92121

 

 

Consultant

 

		
	
By:
	
/s/ Jeff Jonker

	
 
	
Jeff Jonker

 

 

 

 

 

 

 

EXHIBIT A

 

SERVICES

 

Consultant will provide one or more of the following services, as reasonably requested by Company:

 

	
 
	
•
	
Serve as a senior advisor to the Company in the area of corporate and business development.

	
 
	
•
	
Other projects to be determined by mutual agreement between Consultant and the Chief Executive Officer or their designee.

 

 

Compensation:

 

A.Company will pay Consultant a consulting fee of ten thousand dollars ($10,000) per month during the Term.  It is anticipated that Consultant will provide up to eight (8) hours of Services per week. The Consulting fee shall be payable monthly within 30 days of Company receiving an invoice from Consultant detailing the Services provided and the time spent providing such Services, and all of which fees shall be net of any withholding taxes (if applicable).

B.Company will reimburse Consultant for all reasonable expenses, including non-local travel, incurred by Consultant in performing the Services pursuant to this Agreement, provided that Consultant receives written consent from Company’s Chief Executive Officer or authorized representative prior to incurring such expenses and submits receipts for such expenses to Company in accordance with Company policy.Exhibit 4.2

 

2021
EQUITY INCENTIVE PLAN

 

BTCS,
Inc. (the “Company”) hereby establishes this 2021 Equity Incentive Plan (the “Plan”), effective
January 1, 2021, (“Effective Date”).

 

1.       Purpose;
Eligibility.

 

1.1       General
Purpose. The purpose of the Plan is to (a) enable the Company, and any Affiliate to attract and retain the types of Employees,
Consultants and Directors who will contribute to the Company’s long range success; (b) provide incentives that align the interests
of Employees, Consultants and Directors with those of the shareholders of the Company; and (c) promote the success of the Company’s
business.

 

1.2       Eligible
Award Recipients. The persons eligible to receive Awards are the Employees, Consultants and Directors of the Company and its
Affiliates and such other individuals designated by the Committee who are reasonably expected to become Employees, Consultants and Directors
after the receipt of Awards.

 

1.3       Available
Awards. Awards that may be granted under the Plan include: (a) Incentive Stock Options, (b) Non-qualified Stock Options, (c)
Stock Appreciation Rights, (d) Restricted Awards, (e) Performance Share Awards, and (f) Performance Cash Awards.

 

2.       Definitions.

 

“Affiliate”
means a corporation or other entity that, directly or through one or more intermediaries, controls, is controlled by or is under common
control with, the Company. The Board will have the authority to designate the time or times at which an Affiliate’s status is determined.

 

“Applicable
Laws” means the requirements related to or implicated by the administration of the Plan under applicable state corporate law,
United States federal and state securities laws, the Code, any stock exchange or quotation system on which the shares of Common Stock
are listed or quoted, and the applicable laws of any foreign country or jurisdiction where Awards are granted under the Plan.

 

“Award”
means any right granted under the Plan, including an Incentive Stock Option, a Non-qualified Stock Option, a Stock Appreciation Right,
a Restricted Award, a Performance Share Award, or a Performance Cash Award.

 

“Award
Agreement” means a written agreement, contract, certificate or other instrument or document evidencing the terms and conditions
of an individual Award granted under the Plan which may, in the discretion of the Company, be transmitted electronically to any Participant.
Each Award Agreement shall be subject to the terms and conditions of the Plan.

 

“Beneficial
Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating
the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such
“person” shall be deemed to have beneficial ownership of all securities that such “person” has the right to acquire
by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only after the passage of
time. The terms “Beneficially Owns” and “Beneficially Owned” have a corresponding meaning.

 

“Board”
means the Board of Directors of the Company, as constituted at any time.

 

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

 

    	 

     

    

 

With
respect to any Director, a determination by a majority of the disinterested Board members that the Director has engaged in any of the
following: (a) malfeasance in office; (b) gross misconduct or neglect; (c) false or fraudulent misrepresentation inducing the Director’s
appointment; (d) willful conversion of corporate funds; or (e) repeated failure to participate in Board meetings on a regular basis despite
having received proper notice of the meetings in advance.

 

The
Committee, in its absolute discretion, shall determine the effect of all matters and questions relating to whether a Participant has
been discharged for Cause.

 

“Change
in Control” means the occurrence, in a single transaction or in a series of related transactions, of any one or more of the
following events: (i) any Exchange Act Person becomes the owner, directly or indirectly, of securities of the Company representing more
than 50% of the combined voting power of the Company’s then outstanding securities other than by virtue of a merger, consolidation
or similar transaction. Notwithstanding the foregoing, a Change in Control will not be deemed to occur (A) on account of the acquisition
of securities of the Company directly from the Company, (B) on account of the acquisition of securities of the Company by an investor,
any affiliate thereof or any other Exchange Act Person that acquires the Company’s securities in a transaction or series of related
transactions the primary purpose of which is to obtain financing for the Company through the issuance of equity securities, (C) on account
of the acquisition of securities of the Company by any individual who is either an executive officer or a Director; or (D) solely because
the level of ownership held by any Exchange Act Person (the “Subject Person”) exceeds the designated percentage threshold
of the outstanding voting securities as a result of the conversion of another stockholder’s voting securities or a repurchase or
other acquisition of voting securities by the Company reducing the number of shares outstanding, provided that if a Change in Control
would occur (but for the operation of this sentence) as a result of the acquisition of voting securities by the Company, and after such
share acquisition, the Subject Person becomes the owner of any additional voting securities that, assuming the repurchase or other acquisition
had not occurred, increases the percentage of the then outstanding voting securities owned by the Subject Person over the designated
percentage threshold, then a Change in Control will be deemed to occur; (ii) there is consummated a merger, consolidation or similar
transaction involving (directly or indirectly) the Company and, immediately after the consummation of such merger, consolidation or similar
transaction, the stockholders of the Company immediately prior thereto do not own, directly or indirectly, either (A) outstanding voting
securities representing more than 50% of the combined outstanding voting power of the surviving entity in such merger, consolidation
or similar transaction or (B) more than 50% of the combined outstanding voting power of the parent of the surviving entity in such merger,
consolidation or similar transaction, in each case in substantially the same proportions as their ownership of the outstanding voting
securities of the Company immediately prior to such transaction. (iii) there is consummated a sale, lease, exclusive license or other
disposition of all or substantially all of the consolidated assets of the Company and its subsidiaries, other than a sale, lease, license
or other disposition of all or substantially all of the consolidated assets of the Company and its subsidiaries to an entity, more than
50% of the combined voting power of the voting securities of which are owned by stockholders of the Company in substantially the same
proportions as their ownership of the outstanding voting securities of the Company immediately prior to such sale, lease, license or
other disposition; or (iv) individuals who, on the date the Plan is adopted by the Board, are Incumbent Directors (the “Incumbent
Board”) cease for any reason to constitute at least a majority of the members of the Board; provided, however, that
if the appointment or election (or nomination for election) of any new Board member was approved or recommended by a majority vote of
the members of the Incumbent Board then still in office, such new member will, for purposes of this Plan, be considered as a member of
the Incumbent Board. Notwithstanding the foregoing definition or any other provision of the Plan, the term Change in Control will not
include a sale of assets, merger or other transaction effected exclusively for the purpose of changing the domicile of the Company and
the definition of Change in Control (or any analogous term) in an individual written agreement between the Company or any Affiliate and
the Participant will supersede the foregoing definition with respect to Awards subject to such agreement; provided, however, that
if no definition of Change in Control or any analogous term is set forth in such an individual written agreement, the foregoing definition
will apply. To the extent required for compliance with Section 409A of the Code, in no event will a Change in Control be deemed to have
occurred if such transaction is not also a “change in the ownership or effective control of” the Company or “a change
in the ownership of a substantial portion of the assets of” the Company as determined under Treasury Regulations Section 1.409A-3(i)(5)
(without regard to any alternative definition thereunder). The Board may, in its sole discretion and without a Participant’s consent,
amend the definition of “Change in Control” to conform to the definition of “Change in Control” under Section
409A of the Code, and the regulations thereunder.

 

“Code”
means the Internal Revenue Code of 1986, as it may be amended from time to time. Any reference to a section of the Code shall be deemed
to include a reference to any regulations promulgated thereunder.

 

“Committee”
means a committee of two or more members of the Board appointed by the Board to administer the Plan in accordance with Section 3.3 and
Section 3.4.

 

“Common
Stock” means the common stock, $0.001 par value per share, of the Company, or such other securities of the Company as may be
designated by the Committee from time to time in substitution thereof.

 

    	2

    	 

    

 

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

 

“Continuous
Service” means that the Participant’s service with the Company or an Affiliate, whether as an Employee, Director or Consultant,
is not interrupted or terminated. A change in the capacity in which the Participant renders service to the Company or an Affiliate as
an Employee, Consultant or Director or a change in the entity for which the Participant renders such service, provided that there is
no interruption or termination of the Participant’s service with the Company or an Affiliate, will not terminate a Participant’s
Continuous Service; provided, however, that if the entity for which a Participant is rendering services ceases to qualify as an
Affiliate, as determined by the Board, in its sole discretion, such Participant’s Continuous Service will be considered to have
terminated on the date such entity ceases to qualify as an Affiliate. To the extent permitted by law, the Committee or the chief executive
officer of the Company, in that party’s sole discretion, may determine whether Continuous Service will be considered interrupted
in the case of (i) any leave of absence approved by the Committee or chief executive officer, including sick leave, military leave or
any other personal leave, or (ii) transfers between the Company, an Affiliate, or their successors. Notwithstanding the foregoing, a
leave of absence will be treated as Continuous Service for purposes of vesting
of an Award only to such extent as may be provided in the Company’s leave of absence policy, in the
written terms of any leave of absence agreement or policy applicable to the Participant, or as otherwise required by law. In addition,
to the extent required for exemption from or compliance with Section 409A of the Code, the determination of whether there has been a
termination of Continuous Service will be made, and such term will be construed, in a manner that is consistent with the definition of
“separation from service” as defined under Treasury Regulation Section 1.409A-1(h) (without regard to any alternative definition
thereunder).

 

“Deferred
Stock Units (DSUs)” has the meaning set forth in Section 7.2 hereof.

 

“Director”
means a member of the Board.

 

“Disability”
means that the Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or
mental impairment; provided, however, for purposes of determining the term of an Incentive Stock Option pursuant to Section 6.10 hereof,
the term Disability shall have the meaning ascribed to it under Section 22(e)(3) of the Code. The determination of whether an individual
has a Disability shall be determined under procedures established by the Committee. Except in situations where the Committee is determining
Disability for purposes of the term of an Incentive Stock Option pursuant to Section 6.10 hereof within the meaning of Section 22(e)(3)
of the Code, the Committee may rely on any determination that a Participant is disabled for purposes of benefits under any long-term
disability plan maintained by the Company or any Affiliate in which a Participant participates.

 

“Disqualifying
Disposition” has the meaning set forth in Section 14.12.

 

“Effective
Date” shall mean the date as of which this Plan is adopted by the Board.

 

“Employee”
means any person, including an Officer or Director, employed by the Company or an Affiliate; provided, that, for purposes of determining
eligibility to receive Incentive Stock Options, an Employee shall mean an employee of the Company or a parent or subsidiary corporation
within the meaning of Section 424 of the Code. Mere service as a Director or payment of a director’s fee by the Company or an Affiliate
shall not be sufficient to constitute “employment” by the Company or an Affiliate.

 

“Exchange
Act” means the Securities Exchange Act of 1934.

 

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

 

    	3

    	 

    

 

“Fair
Market Value” means, as of the last trading day before the grant of the Award, the value of the Common Stock as determined
below. If the Common Stock is listed on any established stock exchange or a national market system, including without limitation, the
New York Stock Exchange, the NASDAQ Stock Market or the OTC Markets, the Fair Market Value shall be the closing price of a share of Common
Stock as quoted on such exchange or system. In the absence of an established market for the Common Stock, the Fair Market Value shall
be determined in good faith by the Committee and such determination shall be conclusive and binding on all persons.

 

“Free
Standing Rights” has the meaning set forth in Section 7.1(a).

 

“Grant
Date” means the date on which the Committee adopts a resolution, or takes other appropriate action, expressly granting an Award
to a Participant that specifies the key terms and conditions of the Award or, if a later date is set forth in such resolution, then such
date as is set forth in such resolution.

 

“Incentive
Stock Option” means an Option intended to qualify as an incentive stock option within the meaning of Section 422 of the Code.

 

“Incumbent
Directors” means individuals who, on the Effective Date, constitute the Board, provided that any individual becoming a Director
subsequent to the Effective Date whose election or nomination for election to the Board was approved by a vote of at least two-thirds
of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which
such person is named as a nominee for Director without objection to such nomination) shall be an Incumbent Director. No individual initially
elected or nominated as a director of the Company as a result of an actual or threatened election contest with respect to Directors or
as a result of any other actual or threatened solicitation of proxies by or on behalf of any person other than the Board shall be an
Incumbent Director.

 

“Non-Employee
Director” means a Director who is a “non-employee director” within the meaning of Rule 16b-3.

 

“Non-qualified
Stock Option” means an Option that by its terms does not qualify or is not intended to qualify as an Incentive Stock Option.

 

“Officer”
means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated
thereunder.

 

“Option”
means an Incentive Stock Option or a Non-qualified Stock Option granted pursuant to the Plan.

 

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

 

“Option
Exercise Price” means the price at which a share of Common Stock may be purchased upon the exercise of an Option.

 

“Participant”
means an eligible person to whom an Award is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding
Award.

 

“Performance
Cash Award” means an award of cash granted pursuant to the terms and conditions of Section 7.4.

 

“Performance
Criteria” means the one or more criteria that the Board or Committee (as applicable) will select for purposes of establishing
the Performance Goals for a Performance Period. The Performance Criteria that will be used to establish such Performance Goals may be
based on any one of, or combination of, the following as determined by the Board or Committee (as applicable): (i) earnings (including
earnings per share and net earnings); (ii) earnings before interest, taxes and depreciation; (iii) earnings before interest, taxes, depreciation
and amortization; (iv) earnings before interest, taxes, depreciation, amortization and legal settlements; (v) earnings before interest,
taxes, depreciation, amortization, legal settlements and other income (expense); (vi) earnings before interest, taxes, depreciation,
amortization, legal settlements, other income (expense) and stock-based compensation; (vii) earnings before interest, taxes, depreciation,
amortization, legal settlements, other income (expense), stock-based compensation and changes in deferred revenue; (viii) total stockholder
return; (ix) return on equity or average stockholder’s equity; (x) return on assets, investment, or capital employed; (xi) stock
price; (xii) margin (including gross margin); (xiii) income (before or after taxes); (xiv) operating income; (xv) operating income after
taxes; (xvi) pre-tax profit; (xvii) operating cash flow; (xviii) sales or revenue targets; (xix) increases in revenue or product revenue;
(xx) expenses and cost reduction goals; (xxi) improvement in or attainment of working capital levels; (xxii) economic value added (or
an equivalent metric); (xxiii) market share; (xxiv) cash flow; (xxv) cash flow per share; (xxvi) share price performance; (xxvii) debt
reduction; (xxviii) implementation or completion of projects or processes; (xxix) stockholders’ equity; (xxx) capital expenditures;
(xxxi) debt levels; (xxxii) operating profit or net operating
profit; (xxxiii) workforce diversity; (xxxiv) growth of net income or operating income; (xxxv) employee retention; (xxxvi) client satisfaction;
(xxxvii ) budget management; (xxxviii) entry into or completion of strategic partnerships or transactions (including in-licensing and
out-licensing of intellectual property); (xliiv) completion of acquisitions or business expansion; (xliv) net assets calculated using
the fair market value of digital assets; and (xlv) cash plus the fair market value of digital assets.

 

    	4

    	 

    

 

“Performance
Goals” means, for a Performance Period, the one or more goals established by the Board or Committee (as applicable) for the
Performance Period based upon the Performance Criteria. Performance Goals may be based on a Company-wide basis, with respect to one or
more business units, divisions, Affiliates, or business segments, and in either absolute terms or relative to the performance of one
or more comparable companies or the performance of one or more relevant indices. Unless
specified otherwise (i) by the Board or Committee (as applicable) (ii) in the Award Agreement at the time the Award is granted or (iii)
in such other documented agreement between the Company and the Participant setting forth the Performance Goals at the time the Performance
Goals are established, the Board or Committee (as applicable) may appropriately make adjustments in the method of calculating the attainment
of Performance Goals for a Performance Period, including without limitation as follows: (1) to exclude restructuring
and/or other nonrecurring charges; (2) to exclude exchange rate effects; (3) to exclude the effects of changes in the Company’s
fiscal year, and changes to tax laws, generally accepted accounting principles, or other laws and regulations affecting reported results;
(4) to exclude the effects of items that are “unusual” in nature or occur “infrequently” as determined under
generally accepted accounting principles; (6) to exclude the dilutive effects of acquisitions or joint ventures; (7) to assume that any
business divested by the Company achieved performance objectives at targeted levels during the balance of a Performance Period following
such divestiture; (8) to exclude the effect of any change in the outstanding shares of common stock of the Company by reason of any stock
dividend or split, stock repurchase, reorganization, recapitalization, merger, consolidation, spin-off, combination or exchange of shares
or other similar corporate change, or any distributions to common stockholders other than regular cash dividends; (9) to exclude the
effects of stock-based compensation and the award of bonuses under the Company’s bonus plans, if any; (10) to exclude costs incurred
in connection with potential acquisitions or divestitures that are required to be expensed under generally accepted accounting principles;
(11) to exclude the goodwill and intangible asset impairment charges that are required to be recorded under generally accepted accounting
principles; or (12) to exclude litigation or claim judgments or settlements. In addition, the Board or Committee (as applicable) retains
the discretion to reduce or eliminate the compensation or economic benefit due upon attainment of Performance Goals and to define the
manner of calculating the Performance Criteria it selects to use for such Performance Period. Partial achievement of the specified criteria
may result in the payment or vesting corresponding to the degree of achievement as specified in the Performance Share Award Agreement
or the written terms of a Performance Cash Award.

 

“Performance
Period” means the period of time selected by the Board or Committee (as applicable) over which the attainment of one or more
Performance Goals will be measured for the purpose of determining a Participant’s right to and the payment of a Performance Share
Award or a Performance Cash Award. Performance Periods may be of varying and overlapping duration, at the sole discretion of the Board
or Committee (as applicable).

 

“Performance
Share Award” means any Award granted pursuant to Section 7.3 hereof.

 

“Performance
Share” means the grant of a right to receive a number of actual shares of Common Stock or share units based upon the performance
of the Company during a Performance Period, as determined by the Committee.

 

“Permitted
Transferee” means: (a) a member of the Optionholder’s immediate family (child, stepchild, grandchild, parent, stepparent,
grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law,
or sister-in-law, including adoptive relationships), any person sharing the Optionholder’s household (other than a tenant or employee),
a trust in which these persons have more than 50% of the beneficial interest, a foundation in which these persons (or the Optionholder)
control the management of assets, and any other entity in which these persons (or the Optionholder) own more than 50% of the voting interests;
(b) third parties designated by the Committee in connection with a program established and approved by the Committee pursuant to which
Participants may receive a cash payment or other consideration in consideration for the transfer of a Non-qualified Stock Option; and
(c) such other transferees as may be permitted by the Committee in its sole discretion.

 

“Plan”
means this 2021 Equity Incentive Plan, as amended and/or amended and restated from time to time.

 

“Related
Rights” has the meaning set forth in Section 7.1(a).

 

“Restricted
Award” means any Award granted pursuant to Section 7.2(a).

 

“Restricted
Period” has the meaning set forth in Section 7.2(a).

 

    	5

    	 

    

 

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

 

“Securities
Act” means the Securities Act of 1933.

 

“Stock
Appreciation Right” means the right pursuant to an Award granted under Section 7.1 to receive, upon exercise, an amount payable
in cash or shares equal to the number of shares subject to the Stock Appreciation Right that is being exercised multiplied by the excess
of (a) the Fair Market Value of a share of Common Stock, over (b) the exercise price specified in the Stock Appreciation Right Award
Agreement.

 

“Stock
for Stock Exchange” has the meaning set forth in Section 6.4.

 

“Ten
Percent Shareholder” means a person who owns (or is deemed to own pursuant to Section 424(d) of the Code) stock possessing
more than 10% of the total combined voting power of all classes of stock of the Company or of any of its Affiliates.

 

3.       Administration.

 

3.1       Authority
of Committee. The Plan shall be administered by the Committee or, in the Board’s sole discretion, by the Board. Subject
to the terms of the Plan, the Committee’s charter and Applicable Laws, and in addition to other express powers and authorization
conferred by the Plan, the Committee shall have the authority:

 

(a)       to
construe and interpret the Plan and apply its provisions;

 

(b)       to
promulgate, amend, and rescind rules and regulations relating to the administration of the Plan;

 

(c)       to
authorize any person to execute, on behalf of the Company, any instrument required to carry out the purposes of the Plan;

 

(d)       to
delegate its authority to one or more Officers of the Company with respect to Awards that do not involve “insiders” within
the meaning of Section 16 of the Exchange Act;

 

(e)       to
determine when Awards are to be granted under the Plan and the applicable Grant Date;

 

(f)       from
time to time to select, subject to the limitations set forth in this Plan, those Participants to whom Awards shall be granted;

 

(g)       to
determine the number of shares of Common Stock to be made subject to each Award;

 

(h)       to
determine whether each Option is to be an Incentive Stock Option or a Non-qualified Stock Option;

 

(i)       to
prescribe the terms and conditions of each Award, including, without limitation, the exercise price and medium of payment and vesting
provisions, and to specify the provisions of the Award Agreement relating to such grant;

 

(j)       to
determine the target number of Performance Shares to be granted pursuant to a Performance Share Award, the performance measures that
will be used to establish the performance goals, the performance period(s) and the number of Performance Shares earned by a Participant;

 

(l)       to
amend any outstanding Awards, including for the purpose of modifying the time or manner of vesting, or the term of any outstanding Award;
provided, however, that if any such amendment impairs a Participant’s rights or increases a Participant’s obligations under
his or her Award or creates or increases a Participant’s federal income tax liability with respect to an Award, such amendment
shall also be subject to the Participant’s consent;

 

(m)       to
determine the duration and purpose of leaves of absences which may be granted to a Participant without constituting termination of their
employment for purposes of the Plan, which periods shall be no shorter than the periods generally applicable to Employees under the Company’s
employment policies;

 

(n)       to
make decisions with respect to outstanding Awards that may become necessary upon a change in corporate control or an event that triggers
anti-dilution adjustments;

 

    	6

    	 

    

 

(o)       to
interpret, administer, reconcile any inconsistency in, correct any defect in and/or supply any omission in the Plan and any instrument
or agreement relating to, or Award granted under, the Plan; and

 

(p)       to
exercise discretion to make any and all other determinations which it determines to be necessary or advisable for the administration
of the Plan.

 

The
Committee also may modify the purchase price or the exercise price of any outstanding Award, provided that if the modification effects
a repricing, and the Company is listed on a nationally recognized stock exchange, then shareholder approval shall be required before
the repricing is effective.

 

3.2       Committee
Decisions Final. All decisions made by the Committee pursuant to the provisions of the Plan shall be final and binding on
the Company and the Participants, unless such decisions are determined by a court having jurisdiction to be arbitrary and capricious.

 

3.3       Delegation.
The Committee or, if no Committee has been appointed, the Board may delegate administration of the Plan to a committee or committees
of two or more members of the Board, and the term “Committee” shall apply to any persons to whom such authority has
been delegated. The Committee shall have the power to delegate to a subcommittee any of the administrative powers the Committee is authorized
to exercise (and references in this Plan to the Board or the Committee shall thereafter be to the committee or subcommittee), subject,
however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The
Board may abolish the Committee at any time and revest in the Board the administration of the Plan. The members of the Committee shall
be appointed by and serve at the pleasure of the Board. From time to time, the Board may increase or decrease the size of the Committee,
add additional members to, remove members (with or without cause) from, appoint new members in substitution therefor, and fill vacancies,
however caused, in the Committee. The Committee shall act pursuant to a vote of the majority of its members or, in the case of a Committee
comprised of only two members, the unanimous consent of its members, whether present or not, or by the written consent of the majority
of its members and minutes shall be kept of all of its meetings and copies thereof shall be provided to the Board. Subject to the limitations
prescribed by the Plan and the Board, the Committee may establish and follow such rules and regulations for the conduct of its business
as it may determine to be advisable.

 

3.4       Committee
Composition. The Committee shall consist solely of two or more Non-Employee Directors, unless determined otherwise by the
Board. The Board shall have discretion to determine whether or not it intends to comply with the exemption requirements of Rule 16b-3.
However, if the Board intends to satisfy such exemption requirements with respect to any insider subject to Section 16 of the Exchange
Act, the Committee shall be a compensation committee of the Board that at all times consists solely of two or more Non-Employee Directors.
Within the scope of such authority, the Board or the Committee may delegate to a committee of one or more members of the Board who are
not Non-Employee Directors the authority to grant Awards to eligible persons who are not then subject to Section 16 of the Exchange Act.
Nothing herein shall create an inference that an Award is not validly granted under the Plan in the event Awards are granted under the
Plan by a compensation committee of the Board that does not at all times consist solely of two or more Non-Employee Directors.

 

3.5       Indemnification.
In addition to such other rights of indemnification as they may have as Directors or members of the Committee, and to the extent allowed
by Applicable Laws, the Committee shall be indemnified by the Company against the reasonable expenses, including attorney’s fees,
actually incurred in connection with any action, suit or proceeding or in connection with any appeal therein, to which the Committee
may be party by reason of any action taken or failure to act under or in connection with the Plan or any Award granted under the Plan,
and against all amounts paid by the Committee in settlement thereof (provided, however, that the settlement has been approved by the
Company, which approval shall not be unreasonably withheld) or paid by the Committee in satisfaction of a judgment in any such action,
suit or proceeding, except in relation to matters as to which it shall be adjudged in such action, suit or proceeding that such Committee
did not act in good faith and in a manner which such person reasonably believed to be in the best interests of the Company, or in the
case of a criminal proceeding, had no reason to believe that the conduct complained of was unlawful; provided, however, that within 60
days after institution of any such action, suit or proceeding, such Committee shall, in writing, offer the Company the opportunity at
its own expense to handle and defend such action, suit or proceeding.

 

4.       Shares
Subject to the Plan.

 

4.1       Subject
to adjustment in accordance with Section 11 and 4.2 below, Shares authorized for Awards granted under the Plan on and after the Effective
Date shall not exceed 20,000,000 shares. No more than 20,000,000 shares of Common Stock may be granted as Incentive Stock Options. During
the terms of the Awards, the Company shall keep available at all times the number of shares of Common Stock required to satisfy such
Awards. Shares of Common Stock available for distribution under the Plan may consist, in whole or in part, of authorized and unissued
shares, treasury shares or shares reacquired by the Company in any manner.

    	7

    	 

    

 

4.2       If
any shares subject to an Award granted under the Plan are forfeited, an Award granted under the Plan expires or otherwise terminates
without issuance of shares, or an Award granted under the Plan is settled for cash (in whole or in part) or otherwise does not result
in the issuance of all or a portion of the shares subject to such Award (except as described below with respect to stock settled Stock
Appreciation Rights), such shares shall, to the extent of such forfeiture, expiration, termination, cash settlement or non-issuance,
again be available for grant under the Plan in accordance with Section 4.3 below. Notwithstanding anything to the contrary contained
herein: shares subject to an Award under the Plan shall not again be made available for issuance or delivery under the Plan if such shares
are (a) shares tendered in payment of an Option, (b) shares delivered or withheld by the Company to satisfy any tax withholding obligation,
or (c) shares covered by a stock-settled Stock Appreciation Right or other Awards that were not issued upon the settlement of the Award.

 

4.3       Any
shares that again become available for Awards under the Plan pursuant to this Section shall be added as one share for every one share
subject to the Awards.

 

5.       Eligibility.

 

5.1       Eligibility
for Specific Awards. Incentive Stock Options may be granted only to Employees. Awards other than Incentive Stock Options may
be granted to Employees, Consultants and Directors and those individuals whom the Committee determines are reasonably expected to become
Employees, Consultants and Directors following the Grant Date.

 

5.2       Ten
Percent Shareholders. Unless allowed by the Code a Ten Percent Shareholder shall not be granted an Incentive Stock Option
unless the Option Exercise Price is at least 110% of the Fair Market Value of the Common Stock at the Grant Date and the Option is not
exercisable after the expiration of five years from the Grant Date.

 

6.       Option
Provisions. Each Option granted under the Plan shall be evidenced by an Award Agreement. Each Option so granted shall be subject
to the conditions set forth in this Section 6, and to such other conditions not inconsistent with the Plan as may be reflected in the
applicable Award Agreement. All Options shall be separately designated Incentive Stock Options or Non-Qualified Stock Options at the
time of grant, and, if certificates are issued, a separate certificate or certificates will be issued for shares of Common Stock purchased
on exercise of each type of Option. Notwithstanding the foregoing, the Company shall have no liability to any Participant or any other
person if an Option designated as an Incentive Stock Option fails to qualify as such at any time or if an Option is determined to constitute
“nonqualified deferred compensation” within the meaning of Section 409A of the Code and the terms of such Option do not satisfy
the requirements of Section 409A of the Code. The provisions of separate Options need not be identical, but each Option shall include
(through incorporation of provisions hereof by reference in the Option or otherwise) the substance of each of the following provisions:

 

6.1       Term.
Subject to the provisions of Section 5.2 regarding Ten Percent Shareholders, no Incentive Stock Option shall be exercisable after the
expiration of 10 years from the Grant Date. The term of a Non-qualified Stock Option granted under the Plan shall be determined by the
Committee; provided, however, no Non-qualified Stock Option shall be exercisable after the expiration of 10 years from the Grant Date.

 

6.2       Exercise
Price of an Incentive Stock Option. Subject to the provisions of Section 5.2 regarding Ten Percent Shareholders, the Option
Exercise Price of each Incentive Stock Option shall be not less than 100% of the Fair Market Value of the Common Stock subject to the
Option on the Grant Date. Notwithstanding the foregoing, an Incentive Stock Option may be granted with an Option Exercise Price lower
than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another option
in a manner satisfying the provisions of Section 424A of the Code.

 

6.3       Exercise
Price of a Non-qualified Stock Option. The Option Exercise Price of each Non-qualified Stock Option shall be not less than
100% of the Fair Market Value of the Common Stock subject to the Option on the Grant Date. Notwithstanding the foregoing, a Non-qualified
Stock Option may be granted with an Option Exercise Price lower than that set forth in the preceding sentence if such Option is granted
pursuant to an assumption or substitution for another option in a manner satisfying the provisions of Section 409A of the Code.

 

    	8

    	 

    

 

6.4       Consideration.
The Option Exercise Price of Common Stock acquired pursuant to an Option shall be paid, to the extent permitted by applicable statutes
and regulations, either (a) in cash or by certified or bank check at the time the Option is exercised or (b) in the discretion of the
Committee, upon such terms as the Committee shall approve, the Option Exercise Price may be paid by: (i) delivery to the Company of other
Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Option Exercise
Price (or portion thereof) due for the number of shares being acquired, or by means of attestation whereby the Participant identifies
for delivery specific shares of Common Stock that have an aggregate Fair Market Value on the date of attestation equal to the Option
Exercise Price (or portion thereof) and receives a number of shares of Common Stock equal to the difference between the number of shares
thereby purchased and the number of identified attestation shares of Common Stock (a “Stock for Stock Exchange”);
(ii) a “cashless” exercise program established with a broker or performed directly with the Company; (iii) by reduction in
the number of shares of Common Stock otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate
Option Exercise Price at the time of exercise; (iv) any combination of the foregoing methods; or (v) in any other form of legal consideration
that may be acceptable to the Committee. Unless otherwise specifically provided in the Option, the exercise price of Common Stock acquired
pursuant to an Option that is paid by delivery (or attestation) to the Company of other Common Stock acquired, directly or indirectly
from the Company, shall be paid only by shares of the Common Stock of the Company that have been held for more than six months (or such
longer or shorter period of time required to avoid a charge to earnings for financial accounting purposes). Notwithstanding the foregoing,
during any period for which the Common Stock is publicly traded (i.e., the Common Stock is listed on any established stock exchange or
a national market system) an exercise by a Director or Officer that involves or may involve a direct or indirect extension of credit
or arrangement of an extension of credit by the Company, directly or indirectly, in violation of Section 402(a) of the Sarbanes-Oxley
Act of 2002 shall be prohibited with respect to any Award under this Plan.

 

6.5       Transferability
of an Incentive Stock Option. An Incentive Stock Option shall not be transferable except by will or by the laws of descent
and distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. Notwithstanding the foregoing,
the Optionholder may, by delivering written notice to the Company, in a form satisfactory to the Company, designate a third party who,
in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option.

 

6.6       Transferability
of a Non-qualified Stock Option. A Non-qualified Stock Option may, in the sole discretion of the Committee, be transferable
to a Permitted Transferee, upon written approval by the Committee to the extent provided in the Award Agreement. If the Non-qualified
Stock Option does not provide for transferability, then the Non-qualified Stock Option shall not be transferable except by will or by
the laws of descent and distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. Notwithstanding
the foregoing, the Optionholder may, by delivering written notice to the Company, in a form satisfactory to the Company, designate a
third party who, in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option.

 

6.7       Vesting
of Options. Each Option may, but need not, vest and therefore become exercisable in periodic installments that may, but need
not, be equal. The Option may be subject to such other terms and conditions on the time or times when it may be exercised (which may
be based on performance or other criteria) as the Committee may deem appropriate. The vesting provisions of individual Options may vary.
No Option may be exercised for a fraction of a share of Common Stock. The Committee may, but shall not be required to, provide for an
acceleration of vesting and exercisability in the terms of any Award Agreement upon the occurrence of a specified event.

 

6.8       Termination
of Continuous Service. Unless otherwise provided in an Award Agreement or in an employment agreement the terms of which have
been approved by the Committee, in the event an Optionholder’s Continuous Service terminates (other than upon the Optionholder’s
death or Disability), the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such
Option as of the date of termination) but only within such period of time ending on the earlier of (a) the date three months (except
for Non-qualified Stock Options which shall be six months) following the termination of the Optionholder’s Continuous Service or
(b) the expiration of the term of the Option as set forth in the Award Agreement; provided that, if the termination of Continuous Service
is by the Company for Cause, all outstanding Options (whether or not vested) shall immediately terminate and cease to be exercisable.
If, after termination, the Optionholder does not exercise his or her Option within the time specified in the Award Agreement, the Option
shall terminate.

 

6.9       Extension
of Termination Date. An Optionholder’s Award Agreement may also provide that if the exercise of the Option following
the termination of the Optionholder’s Continuous Service for any reason would be prohibited at any time because the issuance of
shares of Common Stock would violate the registration requirements under the Securities Act or any other state or federal securities
law or the rules of any securities exchange or interdealer quotation system, then the Option shall terminate on the earlier of (a) the
expiration of the term of the Option in accordance with Section 6.1 or (b) the expiration of a period after termination of the Participant’s
Continuous Service that is three months after the end of the period during which the exercise of the Option would be in violation of
such registration or other securities law requirements.

 

6.10       Disability
of Optionholder. Unless otherwise provided in an Award Agreement, in the event that an Optionholder’s Continuous Service
terminates as a result of the Optionholder’s Disability, the Optionholder may exercise his or her Option (to the extent that the
Optionholder was entitled to exercise such Option as of the date of termination), but only within such period of time ending on the one
year anniversary of the termination as a result of the Optionholder’s Disability. If, after termination, the Optionholder does
not exercise his or her Option within the time specified herein or in the Award Agreement, the Option shall terminate.

 

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6.11       Death
of Optionholder. Unless otherwise provided in an Award Agreement, in the event an Optionholder’s Continuous Service
terminates as a result of the Optionholder’s death, then the Option may be exercised (to the extent the Optionholder was entitled
to exercise such Option as of the date of death) by the Optionholder’s estate, by a person who acquired the right to exercise the
Option by bequest or inheritance or by a person designated to exercise the Option upon the Optionholder’s death, but only within
the period ending on the one year anniversary of the Optionholder’s death. If, after the Optionholder’s death, the Option
is not exercised within the time specified herein or in the Award Agreement, the Option shall terminate.

 

6.12       Incentive
Stock Option $100,000 Limitation. To the extent that the aggregate Fair Market Value (determined at the time of grant) of
Common Stock with respect to which Incentive Stock Options are exercisable for the first time by any Optionholder during any calendar
year (under all plans of the Company and its Affiliates) exceeds $100,000, the Options or portions thereof which exceed such limit (according
to the order in which they were granted) shall be treated as Non-qualified Stock Options, unless otherwise allowed under the Code.

 

7.       Provisions
of Awards Other Than Options.

 

7.1       Stock
Appreciation Rights.

 

(a)       General.
Each Stock Appreciation Right granted under the Plan shall be evidenced by an Award Agreement. Each Stock Appreciation Right so granted
shall be subject to the conditions set forth in this Section 7.1, and to such other conditions not inconsistent with the Plan as may
be reflected in the applicable Award Agreement. Stock Appreciation Rights may be granted alone (“Free Standing Rights”)
or in tandem with an Option (“Related Rights”) granted under the Plan.

 

(b)       Grant
Requirements. Any Related Right that relates to a Non-qualified Stock Option may be granted at the same time the Option is granted
or at any time thereafter but before the exercise or expiration of the Option. Any Related Right that relates to an Incentive Stock Option
must be granted at the same time the Incentive Stock Option is granted.

 

(c)       Term
of Stock Appreciation Rights. The term of a Stock Appreciation Right granted under the Plan shall be determined by the Committee;
provided, however, no Stock Appreciation Right shall be exercisable later than the tenth anniversary of the Grant Date.

 

(d)       Vesting
of Stock Appreciation Rights. Each Stock Appreciation Right may, but need not, vest and therefore become exercisable in periodic
installments that may, but need not, be equal. The Stock Appreciation Right may be subject to such other terms and conditions on the
time or times when it may be exercised as the Committee may deem appropriate. The vesting provisions of individual Stock Appreciation
Rights may vary. No Stock Appreciation Right may be exercised for a fraction of a share of Common Stock. The Committee may, but shall
not be required to, provide for an acceleration of vesting and exercisability in the terms of any Stock Appreciation Right upon the occurrence
of a specified event.

 

(e)       Exercise
and Payment. Upon exercise of a Stock Appreciation Right, the holder shall be entitled to receive from the Company an amount equal
to the number of shares of Common Stock subject to the Stock Appreciation Right that is being exercised multiplied by the excess of (i)
the Fair Market Value of a share of Common Stock, over (ii) the exercise price specified in the Stock Appreciation Right or related Option.
Payment with respect to the exercise of a Stock Appreciation Right shall be made on the date of exercise. Payment shall be made in the
form of shares of Common Stock (with or without restrictions as to substantial risk of forfeiture and transferability, as determined
by the Committee in its sole discretion), cash or a combination thereof, as determined by the Committee.

 

(f)       Exercise
Price. The exercise price of a Free Standing Right shall be determined by the Committee, but shall not be less than 100% of the Fair
Market Value of one share of Common Stock on the Grant Date of such Stock Appreciation Right. A Related Right granted simultaneously
with or subsequent to the grant of an Option and in conjunction therewith or in the alternative thereto shall have the same exercise
price as the related Option and shall be exercisable only to the same extent as the related Option; provided, however, that a Stock Appreciation
Right, by its terms, shall be exercisable only when the Fair Market Value per share of Common Stock subject to the Stock Appreciation
Right and related Option exceeds the exercise price per share thereof and no Stock Appreciation Rights may be granted in tandem with
an Option unless the Committee determines that the requirements of Section 7.1(b) are satisfied.

 

(g)       Reduction
in the Underlying Option Shares. Upon any exercise of a Related Right, the number of shares of Common Stock for which any related
Option shall be exercisable shall be reduced by the number of shares for which the Stock Appreciation Right has been exercised. The number
of shares of Common Stock for which a Related Right shall be exercisable shall be reduced upon any exercise of any related Option by
the number of shares of Common Stock for which such Option has been exercised.

 

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(h)       Transferability
of Stock Appreciation Rights. A Free Standing Right may, in the sole discretion of the Committee, be transferable to a Permitted
Transferee, upon written approval by the Committee to the extent provided in the Award Agreement. If the Free Standing Right does not
provide for transferability, then the Free Standing Right shall not be transferable except by will or by the laws of descent and distribution
and shall be exercisable during the lifetime of the Participant only by the Participant. Notwithstanding the foregoing, the Participant
may, by delivering written notice to the Company, in a form satisfactory to the Company, designate a third party who, in the event of
the death of the Participant, shall thereafter be entitled to exercise the Free Standing Right. A Related Right granted simultaneously
with or subsequent to the grant of an Option and in conjunction therewith or in the alternative thereto shall be transferable only upon
the same terms and conditions as the related Option.

 

7.2       Restricted
Awards.

 

(a)       General.
A Restricted Award is an Award of actual shares of Common Stock (“Restricted Stock”) or hypothetical Common Stock
units (“Restricted Stock Units”) having a value equal to the Fair Market Value of an identical number of shares of
Common Stock, which may, but need not, provide that such Restricted Award may not be sold, assigned, transferred or otherwise disposed
of, pledged or hypothecated as collateral for a loan or as security for the performance of any obligation or for any other purpose for
such period (the “Restricted Period”) as the Committee shall determine. Each Restricted Award granted under the Plan
shall be evidenced by an Award Agreement. Each Restricted Award so granted shall be subject to the conditions set forth in this Section
7.2, and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement.

 

(b)       Restricted
Stock and Restricted Stock Units. Each Participant granted Restricted Stock shall execute and deliver to the Company an Award Agreement
with respect to the Restricted Stock setting forth the restrictions and other terms and conditions applicable to such Restricted Stock.
If the Committee determines that the Restricted Stock shall be held by the Company or in escrow rather than delivered to the Participant
pending the release of the applicable restrictions, the Committee may require the Participant to additionally execute and deliver to
the Company (A) an escrow agreement satisfactory to the Committee, if applicable and (B) the appropriate blank stock power with respect
to the Restricted Stock covered by such agreement. If a Participant fails to execute an agreement evidencing an Award of Restricted Stock
and, if applicable, an escrow agreement and stock power, the Award shall be null and void. Subject to the restrictions set forth in the
Award, the Participant generally shall have the rights and privileges of a shareholder as to such Restricted Stock, including the right
to vote such Restricted Stock and the right to receive dividends; provided that, any cash dividends and stock dividends with respect
to the Restricted Stock shall be withheld by the Company for the Participant’s account, and interest may be credited on the amount
of the cash dividends withheld at a rate and subject to such terms as determined by the Committee. The cash dividends or stock dividends
so withheld by the Committee and attributable to any particular share of Restricted Stock (and earnings thereon, if applicable) shall
be distributed to the Participant in cash or, at the discretion of the Committee, in shares of Common Stock having a Fair Market Value
equal to the amount of such dividends, if applicable, upon the release of restrictions on such share and, if such share is forfeited,
the Participant shall have no right to such dividends.

 

(i)       The
terms and conditions of a grant of Restricted Stock Units shall be reflected in an Award Agreement. No shares of Common Stock shall be
issued at the time a Restricted Stock Unit is granted, and the Company will not be required to set aside a fund for the payment of any
such Award. A Participant shall have no voting rights with respect to any Restricted Stock Units granted hereunder. The Committee may
also grant Restricted Stock Units with a deferral feature, whereby settlement is deferred beyond the vesting date until the occurrence
of a future payment date or event set forth in an Award Agreement (“Deferred Stock Units”). At the discretion of the
Committee, each Restricted Stock Unit or Deferred Stock Unit (representing one share of Common Stock) may be credited with cash and stock
dividends paid by the Company in respect of one share of Common Stock (“Dividend Equivalents”). Dividend Equivalents
shall be paid currently (and in no case later than the end of the calendar year in which the dividend is paid to the holders of the Common
Stock or, if later, the 15th day of the third month following the date the dividend is paid to holders of the Common Stock). Dividend
Equivalents shall be withheld by the Company and credited to the Participant’s account, and interest may be credited on the amount
of cash Dividend Equivalents credited to the Participant’s account at a rate and subject to such terms as determined by the Committee.
Dividend Equivalents credited to a Participant’s account and attributable to any particular Restricted Stock Unit or Deferred Stock
Unit (and earnings thereon, if applicable) shall be distributed in cash or, at the discretion of the Committee, in shares of Common Stock
having a Fair Market Value equal to the amount of such Dividend Equivalents and earnings, if applicable, to the Participant upon settlement
of such Restricted Stock Unit or Deferred Stock Unit and, if such Restricted Stock Unit or Deferred Stock Unit is forfeited, the Participant
shall have no right to such Dividend Equivalents. Dividend Equivalents will be deemed re-invested in additional Restricted Stock Units
or Deferred Stock Units based on the Fair Market Value of a share of Common Stock on the applicable dividend payment date and rounded
down to the nearest whole share.

 

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(c)       Restrictions.

 

(i)       Restricted
Stock awarded to a Participant shall be subject to the following restrictions until the expiration of the Restricted Period, and to such
other terms and conditions as may be set forth in the applicable Award Agreement: (A) if an escrow arrangement is used, the Participant
shall not be entitled to delivery of the stock certificate; (B) the shares shall be subject to the restrictions on transferability set
forth in the Award Agreement; (C) the shares shall be subject to forfeiture to the extent provided in the applicable Award Agreement;
and (D) to the extent such shares are forfeited, the stock certificates shall be returned to the Company, and all rights of the Participant
to such shares and as a shareholder with respect to such shares shall terminate without further obligation on the part of the Company.

 

(ii)       Restricted
Stock Units and Deferred Stock Units awarded to any Participant shall be subject to (A) forfeiture until the expiration of the Restricted
Period, and satisfaction of any applicable Performance Goals during such period, to the extent provided in the applicable Award Agreement,
and to the extent such Restricted Stock Units or Deferred Stock Units are forfeited, all rights of the Participant to such Restricted
Stock Units or Deferred Stock Units shall terminate without further obligation on the part of the Company and (B) such other terms and
conditions as may be set forth in the applicable Award Agreement.

 

(iii)       The
Committee shall have the authority to remove any or all of the restrictions on the Restricted Stock, Restricted Stock Units and Deferred
Stock Units whenever it may determine that, by reason of changes in Applicable Laws or other changes in circumstances arising after the
date the Restricted Stock or Restricted Stock Units or Deferred Stock Units are granted, such action is appropriate.

 

(d)       Restricted
Period. With respect to Restricted Awards, the Restricted Period shall commence on the Grant Date and end at the time or times set
forth on a schedule established by the Committee in the applicable Award Agreement.

 

No
Restricted Award may be granted or settled for a fraction of a share of Common Stock. The Committee may, but shall not be required to,
provide for an acceleration of vesting in the terms of any Award Agreement upon the occurrence of a specified event.

 

(e)       Delivery
of Restricted Stock and Settlement of Restricted Stock Units. Upon the expiration of the Restricted Period with respect to any shares
of Restricted Stock, the restrictions set forth in Section 7.2(c) and the applicable Award Agreement shall be of no further force or
effect with respect to such shares, except as set forth in the applicable Award Agreement. If an escrow arrangement is used, upon such
expiration, the Company shall deliver to the Participant, or his or her beneficiary, without charge, the stock certificate evidencing
the shares of Restricted Stock which have not then been forfeited and with respect to which the Restricted Period has expired (to the
nearest full share) and any cash dividends or stock dividends credited to the Participant’s account with respect to such Restricted
Stock and the interest thereon, if any. Upon the expiration of the Restricted Period with respect to any outstanding Restricted Stock
Units, or at the expiration of the deferral period with respect to any outstanding Deferred Stock Units, the Company shall deliver to
the Participant, or his or her beneficiary, without charge, one share of Common Stock for each such outstanding vested Restricted Stock
Unit or Deferred Stock Unit (“Vested Unit”) and cash equal to any Dividend Equivalents credited with respect to each
such Vested Unit in accordance with Section 7.2(b)(i) hereof and the interest thereon or, at the discretion of the Committee, in shares
of Common Stock having a Fair Market Value equal to such Dividend Equivalents and the interest thereon, if any; provided, however, that,
if explicitly provided in the applicable Award Agreement, the Committee may, in its sole discretion, elect to pay cash or part cash and
part Common Stock in lieu of delivering only shares of Common Stock for Vested Units. If a cash payment is made in lieu of delivering
shares of Common Stock, the amount of such payment shall be equal to the Fair Market Value of the Common Stock as of the date on which
the Restricted Period lapsed in the case of Restricted Stock Units, or the delivery date in the case of Deferred Stock Units, with respect
to each Vested Unit.

 

(f)       Stock
Restrictions. Each certificate representing Restricted Stock awarded under the Plan shall bear a legend in such form as the Company
deems appropriate.

 

7.3       Performance
Share Awards.

 

(a)       Grant
of Performance Share Awards. Each Performance Share Award granted under the Plan shall be evidenced by an Award Agreement. Each Performance
Share Award so granted shall be subject to the conditions set forth in this Section 7.3, and to such other conditions not inconsistent
with the Plan as may be reflected in the applicable Award Agreement. The Committee shall have the discretion to determine: (i) the number
of shares of Common Stock or stock-denominated units subject to a Performance Share Award granted to any Participant; (ii) the performance
period applicable to any Award; (iii) the conditions that must be satisfied for a Participant to earn an Award; and (iv) the other terms,
conditions and restrictions of the Award.

 

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(b)       Earning
Performance Share Awards. The number of Performance Shares earned by a Participant will depend on the extent to which the performance
goals established by the Committee are attained within the applicable Performance Period, as determined by the Committee. No payout shall
be made with respect to any Performance Share Award except upon written certification by the Committee that the minimum threshold performance
goal(s) have been achieved.

 

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

 

8.       Securities
Law Compliance. Each Award Agreement shall provide that no shares of Common Stock shall be purchased or sold thereunder unless
and until (a) any then applicable requirements of state or federal laws and regulatory agencies have been fully complied with to the
satisfaction of the Company and its counsel and (b) if required to do so by the Company, the Participant has executed and delivered to
the Company a letter of investment intent in such form and containing such provisions as the Committee may require. The Company shall
use reasonable efforts to seek to obtain from each regulatory commission or agency having jurisdiction over the Plan such authority as
may be required to grant Awards and to issue and sell shares of Common Stock upon exercise of the Awards; provided, however, that this
undertaking shall not require the Company to register under the Securities Act the Plan, any Award or any Common Stock issued or issuable
pursuant to any such Award. If, after reasonable efforts, the Company is unable to obtain from any such regulatory commission or agency
the authority which counsel for the Company deems necessary for the lawful issuance and sale of Common Stock under the Plan, the Company
shall be relieved from any liability for failure to issue and sell Common Stock upon exercise of such Awards unless and until such authority
is obtained.

 

9.       Use
of Proceeds from Stock. Proceeds from the sale of Common Stock pursuant to Awards, or upon exercise thereof, shall constitute
general funds of the Company.

 

10.       Miscellaneous.

 

10.1       Acceleration
of Exercisability and Vesting. The Committee shall have the power to accelerate the time at which an Award may first be exercised
or the time during which an Award or any part thereof will vest in accordance with the Plan, notwithstanding the provisions in the Award
stating the time at which it may first be exercised or the time during which it will vest.

 

10.2       Shareholder
Rights. Except as provided in the Plan or an Award Agreement, no Participant shall be deemed to be the holder of, or to have
any of the rights of a holder with respect to, any shares of Common Stock subject to such Award unless and until such Participant has
satisfied all requirements for exercise of the Award pursuant to its terms and no adjustment shall be made for dividends (ordinary or
extraordinary, whether in cash, securities or other property) or distributions of other rights for which the record date is prior to
the date such Common Stock certificate is issued, except as provided in Section 11 hereof.

 

10.3       No
Employment or Other Service Rights. Nothing in the Plan or any instrument executed or Award granted pursuant thereto shall
confer upon any Participant any right to continue to serve the Company or an Affiliate in the capacity in effect at the time the Award
was granted or shall affect the right of the Company or an Affiliate to terminate (a) the employment of an Employee with or without notice
and with or without Cause or (b) the service of a Director pursuant to the By-laws of the Company or an Affiliate, and any applicable
provisions of the corporate law of the state in which the Company or the Affiliate is incorporated, as the case may be.

 

10.4       Transfer;
Approved Leave of Absence. For purposes of the Plan, no termination of employment by an Employee shall be deemed to result
from either (a) a transfer of employment to the Company from an Affiliate or from the Company to an Affiliate, or from one Affiliate
to another, or (b) an approved leave of absence for military service or sickness, or for any other purpose approved by the Company, if
the Employee’s right to reemployment is guaranteed either by a statute or by contract or under the policy pursuant to which the
leave of absence was granted or if the Committee otherwise so provides in writing, in either case, except to the extent inconsistent
with Section 409A of the Code if the applicable Award is subject thereto.

 

10.5       Withholding
Obligations. To the extent provided by the terms of an Award Agreement and subject to the discretion of the Committee, the
Participant may satisfy any federal, state or local tax withholding obligation relating to the exercise or acquisition of Common Stock
under an Award by any of the following means (in addition to the Company’s right to withhold from any compensation paid to the
Participant by the Company) or by a combination of such means: (a) tendering a cash payment; (b) authorizing the Company to withhold
shares of Common Stock from the shares of Common Stock otherwise issuable to the Participant as a result of the exercise or acquisition
of Common Stock under the Award, provided, however, that no shares of Common Stock are withheld with a value exceeding the minimum amount
of tax required to be withheld by law; or (c) delivering to the Company previously owned and unencumbered shares of Common Stock of the
Company.

 

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11.       Adjustments
Upon Changes in Stock. In the event of changes in the outstanding Common Stock or in the capital structure of the Company
by reason of any stock or extraordinary cash dividend, stock split, reverse stock split, an extraordinary corporate transaction such
as any recapitalization, reorganization, merger, consolidation, combination, exchange, or other relevant change in capitalization occurring
after the Grant Date of any Award, Awards granted under the Plan and any Award Agreements, the exercise price of Options and Stock Appreciation
Rights, the maximum number of shares of Common Stock subject to all Awards stated in Section 4 and the maximum number of shares of Common
Stock with respect to which any one person may be granted Awards during any period stated in Section 4 will be equitably adjusted or
substituted, as to the number, price or kind of a share of Common Stock or other consideration subject to such Awards to the extent necessary
to preserve the economic intent of such Award. In the case of adjustments made pursuant to this Section 11, unless the Committee specifically
determines that such adjustment is in the best interests of the Company or its Affiliates, the Committee shall, in the case of Incentive
Stock Options, ensure that any adjustments under this Section 11 will not constitute a modification, extension or renewal of the Incentive
Stock Options within the meaning of Section 424(h)(3) of the Code and in the case of Non-qualified Stock Options, ensure that any adjustments
under this Section 11 will not constitute a modification of such Non-qualified Stock Options within the meaning of Section 409A of the
Code. Any adjustments made under this Section 11 shall be made in a manner which does not adversely affect the exemption provided pursuant
to Rule 16b-3 under the Exchange Act. The Company shall give each Participant notice of an adjustment hereunder and, upon notice, such
adjustment shall be conclusive and binding for all purposes.

 

12.       Effect
of Change in Control.

 

12.1       Unless
otherwise provided in an Award Agreement, notwithstanding any provision of the Plan to the contrary:

 

(a)       In
the event of a Change in Control, all Options and Stock Appreciation Rights shall become immediately exercisable with respect to 100%
of the shares subject to such Options or Stock Appreciation Rights, and the Restricted Period shall expire immediately with respect to
100% of the shares of Restricted Stock or Restricted Stock Units.

 

(b)       With
respect to Performance Share Awards and Performance Cash Awards, in the event of a Change in Control, all incomplete Performance Periods
in respect of such Award in effect on the date the Change in Control occurs shall end on the date of such change and the Committee shall
(i) determine the extent to which Performance Goals with respect to each such Performance Period have been met based upon such audited
or unaudited financial information then available as it deems relevant and (ii) cause to be paid to the applicable Participant partial
or full Awards with respect to Performance Goals for each such Performance Period based upon the Committee’s determination of the
degree of attainment of Performance Goals or, if not determinable, assuming that the applicable “target” levels of performance
have been attained, or on such other basis determined by the Committee.

 

To
the extent practicable, any actions taken by the Committee under the immediately preceding clauses (a) and (b) shall occur in a manner
and at a time which allows affected Participants the ability to participate in the Change in Control with respect to the shares of Common
Stock subject to their Awards.

 

12.2       In
addition, in the event of a Change in Control, the Committee may in its discretion and upon at least 10 days’ advance notice to
the affected persons, cancel any outstanding Awards and pay to the holders thereof, in cash or stock, or any combination thereof, the
value of such Awards based upon the price per share of Common Stock received or to be received by other shareholders of the Company in
the event. In the case of any Option or Stock Appreciation Right with an exercise price (or SAR Exercise Price in the case of a Stock
Appreciation Right) that equals or exceeds the price paid for a share of Common Stock in connection with the Change in Control, the Committee
may cancel the Option or Stock Appreciation Right without the payment of consideration therefor.

 

12.3       The
obligations of the Company under the Plan shall be binding upon any successor corporation or organization resulting from the merger,
consolidation or other reorganization of the Company, or upon any successor corporation or organization succeeding to all or substantially
all of the assets and business of the Company and its Affiliates, taken as a whole.

 

13.       Amendment
of the Plan and Awards.

 

13.1       Amendment
of Plan. The Board at any time, and from time to time, may amend or terminate the Plan. However, except as provided in Section
11 relating to adjustments upon changes in Common Stock and Section 13.3, no amendment shall be effective unless approved by the shareholders
of the Company to the extent shareholder approval is necessary to satisfy any Applicable Laws. At the time of such amendment, the Board
shall determine, upon advice from counsel, whether such amendment will be contingent on shareholder approval.

 

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13.2       Shareholder
Approval. The Board may, in its sole discretion, submit any other amendment to the Plan for shareholder approval.

 

13.3       Contemplated
Amendments. It is expressly contemplated that the Board may amend the Plan in any respect the Board deems necessary or advisable
to provide eligible Employees, Consultants and Directors with the maximum benefits provided or to be provided under the provisions of
the Code and the regulations promulgated thereunder relating to Incentive Stock Options or to the nonqualified deferred compensation
provisions of Section 409A of the Code and/or to bring the Plan and/or Awards granted under it into compliance therewith.

 

13.4       No
Impairment of Rights. Rights under any Award granted before amendment of the Plan shall not be impaired by any amendment of
the Plan unless (a) the Company requests the consent of the Participant and (b) the Participant consents in writing.

 

13.5       Amendment
of Awards. The Committee at any time, and from time to time, may amend the terms of any one or more Awards; provided, however,
that the Committee may not affect any amendment which would otherwise constitute an impairment of the rights under any Award unless (a)
the Company requests the consent of the Participant and (b) the Participant consents in writing.

 

14.       General
Provisions.

 

14.1       Forfeiture
Events. Each Award and the Participant’s rights, payments and benefits with respect to an Award shall be subject to
reduction, cancellation, forfeiture or recoupment upon the occurrence of the events described below, in addition to applicable vesting
conditions of an Award. Such events include a breach of a duty of confidentiality, competing with the Company, soliciting Company personnel
after employment is terminated, failure to assign any invention or technology to the Company if such assignment is a condition of employment
or any other agreements between the Company and the Participant, a termination of the Participant’s Continuous Service for Cause,
violation of the Company’s insider trading policy, or other conduct by the Participant that is detrimental to the business or reputation
of the Company and/or its Affiliates as determined by the Board.

 

14.2       Clawback.
Notwithstanding any other provisions in this Plan, any Award which is subject to recovery under any law, government regulation or stock
exchange listing requirement, will be subject to such deductions and clawback as may be required to be made pursuant to such law, government
regulation or stock exchange listing requirement (or any policy adopted by the Company pursuant to any such law, government regulation
or stock exchange listing requirement).

 

14.3       Other
Compensation Arrangements. Nothing contained in this Plan shall prevent the Board from adopting other or additional compensation
arrangements, subject to shareholder approval if such approval is required; and such arrangements may be either generally applicable
or applicable only in specific cases.

 

14.4       Sub-plans.
The Committee may from time to time establish sub-plans under the Plan for purposes of satisfying blue sky, securities, tax or other
laws of various jurisdictions in which the Company intends to grant Awards. Any sub-plans shall contain such limitations and other terms
and conditions as the Committee determines are necessary or desirable. All sub-plans shall be deemed a part of the Plan, but each sub-plan
shall apply only to the Participants in the jurisdiction for which the sub-plan was designed.

 

14.5       Deferral
of Awards. The Committee may establish one or more programs under the Plan to permit selected Participants the opportunity
to elect to defer receipt of consideration upon exercise of an Award, satisfaction of performance criteria, or other event that absent
the election would entitle the Participant to payment or receipt of shares of Common Stock or other consideration under an Award. The
Committee may establish the election procedures, the timing of such elections, the mechanisms for payments of, and accrual of interest
or other earnings, if any, on amounts, shares or other consideration so deferred, and such other terms, conditions, rules and procedures
that the Committee deems advisable for the administration of any such deferral program.

 

14.6       Unfunded
Plan. The Plan shall be unfunded. Neither the Company, the Board nor the Committee shall be required to establish any special
or separate fund or to segregate any assets to assure the performance of its obligations under the Plan.

 

14.7       Recapitalizations.
Each Award Agreement shall contain provisions required to reflect the provisions of Section 11.

 

14.8       Delivery.
Upon exercise of a right granted under this Plan, the Company shall issue Common Stock or pay any amounts due within a reasonable period
of time thereafter. Subject to any statutory or regulatory obligations the Company may otherwise have, for purposes of this Plan, 30
days shall be considered a reasonable period of time.

 

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14.9       No
Fractional Shares. No fractional shares of Common Stock shall be issued or delivered pursuant to the Plan. The Committee shall
determine whether cash, additional Awards or other securities or property shall be issued or paid in lieu of fractional shares of Common
Stock or whether any fractional shares should be rounded, forfeited or otherwise eliminated.

 

14.10       Other
Provisions. The Award Agreements authorized under the Plan may contain such other provisions not inconsistent with this Plan,
including, without limitation, restrictions upon the exercise of the Awards, as the Committee may deem advisable.

 

14.11       Section
409A. The Plan is intended to comply with Section 409A of the Code to the extent subject thereto, and, accordingly, to the
maximum extent permitted, the Plan shall be interpreted and administered to be in compliance therewith. Any payments described in the
Plan that are due within the “short-term deferral period” as defined in Section 409A of the Code shall not be treated as
deferred compensation unless Applicable Laws require otherwise. Notwithstanding anything to the contrary in the Plan, to the extent required
to avoid accelerated taxation and tax penalties under Section 409A of the Code, amounts that would otherwise be payable and benefits
that would otherwise be provided pursuant to the Plan during the six (6) month period immediately following the Participant’s termination
of Continuous Service shall instead be paid on the first payroll date after the six-month anniversary of the Participant’s separation
from service (or the Participant’s death, if earlier). Notwithstanding the foregoing, neither the Company nor the Committee shall
have any obligation to take any action to prevent the assessment of any excise tax or penalty on any Participant under Section 409A of
the Code and neither the Company nor the Committee will have any liability to any Participant for such tax or penalty.

 

14.12       Disqualifying
Dispositions. Any Participant who shall make a “disposition” (as defined in Section 424 of the Code) of all or
any portion of shares of Common Stock acquired upon exercise of an Incentive Stock Option within two years from the Grant Date of such
Incentive Stock Option or within one year after the issuance of the shares of Common Stock acquired upon exercise of such Incentive Stock
Option (a “Disqualifying Disposition”) shall be required to immediately advise the Company in writing as to the occurrence
of the sale and the price realized upon the sale of such shares of Common Stock.

 

14.13       Section
16. It is the intent of the Company that the Plan satisfy, and be interpreted in a manner that satisfies, the applicable requirements
of Rule 16b-3 as promulgated under Section 16 of the Exchange Act so that Participants will be entitled to the benefit of Rule 16b-3,
or any other rule promulgated under Section 16 of the Exchange Act, and will not be subject to short-swing liability under Section 16
of the Exchange Act. Accordingly, if the operation of any provision of the Plan would conflict with the intent expressed in this Section
14.13, such provision to the extent possible shall be interpreted and/or deemed amended so as to avoid such conflict.

 

14.14       [Reserved]

 

14.15       Beneficiary
Designation. Each Participant under the Plan may from time to time name any beneficiary or beneficiaries by whom any right
under the Plan is to be exercised in case of such Participant’s death. Each designation will revoke all prior designations by the
same Participant, shall be in a form reasonably prescribed by the Committee and shall be effective only when filed by the Participant
in writing with the Company during the Participant’s lifetime.

 

14.16       Expenses.
The costs of administering the Plan shall be paid by the Company.

 

14.17       Severability.
If any of the provisions of the Plan or any Award Agreement is held to be invalid, illegal or unenforceable, whether in whole or in part,
such provision shall be deemed modified to the extent, but only to the extent, of such invalidity, illegality or unenforceability and
the remaining provisions shall not be affected thereby.

 

14.18       Plan
Headings. The headings in the Plan are for purposes of convenience only and are not intended to define or limit the construction
of the provisions hereof.

 

14.19       Non-Uniform
Treatment. The Committee’s determinations under the Plan need not be uniform and may be made by it selectively among
persons who are eligible to receive, or actually receive, Awards. Without limiting the generality of the foregoing, the Committee shall
be entitled to make non-uniform and selective determinations, amendments and adjustments, and to enter into non-uniform and selective
Award Agreements.

 

15.       Termination
or Suspension of the Plan. The Plan shall terminate automatically 10 years from the Effective Date. No Award shall be granted
pursuant to the Plan after such date, but Awards theretofore granted may extend beyond that date. The Board may suspend or terminate
the Plan at any earlier date pursuant to Section 13.1 hereof. No Awards may be granted under the Plan while the Plan is suspended or
after it is terminated.

 

16.       Choice
of Law. The law of the State of Nevada shall
govern all questions concerning the construction, validity and interpretation of this Plan, without regard to such state’s conflict
of law rules.

 

As
adopted by the Board of Directors on January 1, 2021.

 

    	16

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