Document:

ARCH THERAPEUTICS,
INC. 2013 STOCK INCENTIVE PLAN

 

NOTICE
OF RESTRICTED STOCK Bonus AWARD

 

	Grantee’s Name and Address:	 	 
	 	 	 
	 	 	 

 

You (the “Grantee”) have been
granted shares of Common Stock of the Company (the “Award”), subject to the terms and conditions of this Notice of
Restricted Stock Bonus Award (the “Notice”), the Arch Therapeutics, Inc. Stock Incentive Plan (the “Plan”),
as amended from time to time, and the Restricted Stock Bonus Award Agreement (the “Agreement”) attached hereto, as
follows. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Notice.

 

	Award Number	 	 
	Date of Award	 	 
	Vesting Commencement Date	 	 
	Total Number of Shares of Common Stock Awarded (the “Shares”)	 	 

 

 

Vesting Schedule:

 

Subject to the Grantee’s Continuous
Service and other limitations set forth in this Notice, the Plan and the Agreement, the Shares will “vest” in accordance
with the following schedule:

 

    	1

    	 

    

 

In the event of the Grantee’s change
in status from Employee, Director or Consultant to any other status of Employee, Director or Consultant, the Shares shall continue
to vest in accordance with the Vesting Schedule set forth above.

 

For purposes of this Notice and the Agreement,
the term “vest” shall mean, with respect to any Shares, that such Shares are no longer subject to forfeiture to the
Company. Shares that have not vested are deemed “Restricted Shares.” If the Grantee would become vested in a fraction
of a Restricted Share, such Restricted Share shall not vest until the Grantee becomes vested in the entire Share.

 

Vesting shall cease upon the date of termination
of the Grantee’s Continuous Service for any reason, including death or Disability. In the event the Grantee’s Continuous
Service is terminated for any reason, including death or Disability, any Restricted Shares held by the Grantee immediately following
such termination of Continuous Service shall be deemed reconveyed to the Company and the Company shall thereafter be the legal
and beneficial owner of the Restricted Shares and shall have all rights and interest in or related thereto without further action
by the Grantee. The foregoing forfeiture provisions set forth in this Notice as to Restricted Shares shall apply to the new capital
stock or other property (including cash paid other than as a regular cash dividend) received in exchange for the Shares in consummation
of any transaction described in Section 11 of the Plan and such stock or property shall be deemed Additional Securities (as
defined in the Agreement) for purposes of the Agreement, but only to the extent the Shares are at the time covered by such forfeiture
provisions.

 

The Award shall be subject to the provisions
of Section 11 of the Plan in the event of a Corporate Transaction or Change in Control.

 

IN WITNESS WHEREOF, the Company and the
Grantee have executed this Notice and agree that the Award is to be governed by the terms and conditions of this Notice, the Plan
and the Agreement.

 

	 	Arch Therapeutics, Inc.,

a Nevada corporation
	 	 
	 	By: 	 
	 	 	 
	 	Title:	 

 

 

THE GRANTEE ACKNOWLEDGES AND AGREES THAT THE SHARES SHALL VEST,
IF AT ALL, ONLY DURING THE PERIOD OF THE GRANTEE’S CONTINUOUS SERVICE (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED
THIS AWARD OR ACQUIRING SHARES HEREUNDER). THE GRANTEE FURTHER ACKNOWLEDGES AND AGREES THAT NOTHING IN THIS NOTICE, THE AGREEMENT
NOR THE PLAN SHALL CONFER UPON THE GRANTEE ANY RIGHT WITH RESPECT TO CONTINUATION OF THE GRANTEE’S CONTINUOUS SERVICE, NOR
SHALL IT INTERFERE IN ANY WAY WITH THE GRANTEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE THE GRANTEE’S CONTINUOUS
SERVICE AT ANY TIME, WITH OR WITHOUT CAUSE, AND WITH OR WITHOUT NOTICE. THE GRANTEE ACKNOWLEDGES THAT UNLESS THE GRANTEE HAS A
WRITTEN EMPLOYMENT AGREEMENT WITH THE COMPANY TO THE CONTRARY, THE GRANTEE’S STATUS IS AT WILL.

 

    	2

    	 

    

 

[As a condition to receiving the Shares,
the Grantee agrees to refrain from making an election pursuant to Section 83(b) of the Code with respect to the Shares.]

 

The Grantee acknowledges receipt of a copy
of the Plan and the Agreement and represents that he or she is familiar with the terms and provisions thereof, and hereby accepts
the Award subject to all of the terms and provisions hereof and thereof. The Grantee has reviewed this Notice, the Agreement and
the Plan in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Notice and fully understands
all provisions of this Notice, the Agreement and the Plan. The Grantee hereby agrees that all questions of interpretation and administration
relating to this Notice, the Plan and the Agreement shall be resolved by the Administrator in accordance with Section 11 of
the Agreement. The Grantee further agrees to the venue selection in accordance with Section 12 of the Agreement. The Grantee
further agrees to notify the Company upon any change in the residence address indicated in this Notice.

 

	Dated:	 	 	Signed:	 

 

    	3

    	 

    

 

Award Number: __________________

 

ARCH THERAPEUTICS,
Inc. 2013 STOCK INCENTIVE PLAN

 

RESTRICTED STOCK BONUS AWARD AGREEMENT

 

1.Issuance of Shares. Arch Therapeutics,
Inc. a Nevada corporation (the “Company”), hereby issues to the Grantee (the “Grantee”) named in the Notice
of Restricted Stock Bonus Award (the “Notice”), the Total Number of Shares of Common Stock Awarded set forth in the
Notice (the “Shares”), subject to the Notice, this Restricted Stock Bonus Award Agreement (the “Agreement”)
and the terms and provisions of the Arch Therapeutics, Inc. 2013 Stock Incentive Plan (the “Plan”), as amended from
time to time, which are incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan shall
have the same defined meanings in this Agreement. All Shares issued hereunder will be deemed issued to the Grantee as fully paid
and nonassessable shares, and the Grantee will have the right to vote the Shares at meetings of the Company’s stockholders.
The Company shall pay any applicable stock transfer taxes imposed upon the issuance of the Shares to the Grantee hereunder.

 

2.Transfer Restrictions. The
Shares issued to the Grantee hereunder may not be sold, transferred by gift, pledged, hypothecated, or otherwise transferred or
disposed of by the Grantee prior to the date when the Shares become vested pursuant to the Vesting Schedule set forth in the Notice.
Any attempt to transfer Restricted Shares in violation of this Section 2 will be null and void and will be disregarded.

 

3.Escrow of Stock. For purposes
of facilitating the enforcement of the provisions of this Agreement, the Grantee agrees, immediately upon receipt of the certificate(s)
for the Restricted Shares, to deliver such certificate(s), together with an Assignment Separate from Certificate in the form attached
hereto as Exhibit A, executed in blank by the Grantee with respect to each such stock certificate, to the Secretary
or Assistant Secretary of the Company, or their designee, to hold in escrow for so long as such Restricted Shares have not vested
pursuant to the Vesting Schedule set forth in the Notice, with the authority to take all such actions and to effectuate all such
transfers and/or releases as may be necessary or appropriate to accomplish the objectives of this Agreement in accordance with
the terms hereof. The Grantee hereby acknowledges that the appointment of the Secretary or Assistant Secretary of the Company (or
their designee) as the escrow holder hereunder with the stated authorities is a material inducement to the Company to make this
Agreement and that such appointment is coupled with an interest and is accordingly irrevocable. The Grantee agrees that the Restricted
Shares may be held electronically in a book entry system maintained by the Company’s transfer agent or other third party
and that all the terms and conditions of this Section 3 applicable to certificated Restricted Shares will apply with the same force
and effect to such electronic method for holding the Restricted Shares. The Grantee agrees that such escrow holder shall not be
liable to any party hereto (or to any other party) for any actions or omissions unless such escrow holder is grossly negligent
relative thereto. The escrow holder may rely upon any letter, notice or other document executed by any signature purported to be
genuine and may resign at any time. Upon the vesting of Restricted Shares, the escrow holder will, without further order or instruction,
transmit to the Grantee the certificate evidencing such Shares; provided, however, that no transmittal of certificates
evidencing the Shares will occur unless and until the Grantee has satisfied all Tax Withholding Obligations (as defined in Section
5(c) below).

 

    	1

    	 

    

 

4.Additional Securities and Distributions.

 

(a)Any securities or cash received (other
than a regular cash dividend) as the result of ownership of the Restricted Shares (the “Additional Securities”), including,
but not by way of limitation, warrants, options and securities received as a stock dividend or stock split, or as a result of a
recapitalization or reorganization or other similar change in the Company’s capital structure, shall be retained in escrow
in the same manner and subject to the same conditions and restrictions as the Restricted Shares with respect to which they were
issued, including, without limitation, the Vesting Schedule set forth in the Notice. The Grantee shall be entitled to direct the
Company to exercise any warrant or option received as Additional Securities upon supplying the funds necessary to do so, in which
event the securities so purchased shall constitute Additional Securities, but the Grantee may not direct the Company to sell any
such warrant or option. If Additional Securities consist of a convertible security, the Grantee may exercise any conversion right,
and any securities so acquired shall constitute Additional Securities. In the event of any change in certificates evidencing the
Shares or the Additional Securities by reason of any recapitalization, reorganization or other transaction that results in the
creation of Additional Securities, the escrow holder is authorized to deliver to the issuer the certificates evidencing the Shares
or the Additional Securities in exchange for the certificates of the replacement securities.

 

(b)The Company shall disburse to the Grantee
all regular cash dividends with respect to the Shares and Additional Securities (whether vested or not), less any applicable withholding
obligations.

 

5.Taxes.

 

(a)[No Section 83(b) Election.
As a condition to receiving the Shares, the Grantee agrees to refrain from making an election pursuant to Section 83(b) of
the Code with respect to the Shares.]

 

(b)Tax Liability. The Grantee is
ultimately liable and responsible for all taxes owed by the Grantee in connection with the Award, regardless of any action the
Company or any Related Entity takes with respect to any tax withholding obligations that arise
in connection with the Award. Neither the Company nor any Related Entity makes any representation
or undertaking regarding the treatment of any tax withholding in connection with the grant or vesting of the Award or the subsequent
sale of Shares subject to the Award. The Company and its Related Entities do not commit and are
under no obligation to structure the Award to reduce or eliminate the Grantee’s tax liability.

 

(c)Payment of Withholding Taxes.
Prior to any event in connection with the Award (e.g., vesting) that the Company determines may result in any tax withholding obligation,
whether United States federal, state, local or non-U.S., including any employment tax obligation (the “Tax Withholding Obligation”),
the Grantee must arrange for the satisfaction of the minimum amount of such Tax Withholding Obligation in a manner acceptable to
the Company.

 

    	2

    	 

    

 

(i)By Share Withholding. The
Grantee authorizes the Company to, upon the exercise of its sole discretion, withhold from those Shares issuable to the Grantee
the whole number of Shares sufficient to satisfy the minimum applicable Tax Withholding Obligation. The Grantee acknowledges that
the withheld Shares may not be sufficient to satisfy the Grantee’s minimum Tax Withholding Obligation. Accordingly, the Grantee
agrees to pay to the Company or any Related Entity as soon as practicable, including through
additional payroll withholding, any amount of the Tax Withholding Obligation that is not satisfied by the withholding of Shares
described above.

 

(ii)By Sale of Shares. Unless
the Grantee determines to satisfy the Tax Withholding Obligation by some other means in accordance with clause (iii) below, the
Grantee’s acceptance of this Award constitutes the Grantee’s instruction and authorization to the Company and any brokerage
firm determined acceptable to the Company for such purpose to sell on the Grantee’s behalf a whole number of Shares from
those Shares issuable to the Grantee as the Company determines to be appropriate to generate cash proceeds sufficient to satisfy
the minimum applicable Tax Withholding Obligation. Such Shares will be sold on the day such Tax Withholding Obligation arises (e.g.,
a vesting date) or as soon thereafter as practicable. The Grantee will be responsible for all broker’s fees and other costs
of sale, and the Grantee agrees to indemnify and hold the Company harmless from any losses, costs, damages, or expenses relating
to any such sale. To the extent the proceeds of such sale exceed the Grantee’s minimum Tax Withholding Obligation, the Company
agrees to pay such excess in cash to the Grantee. The Grantee acknowledges that the Company or its designee is under no obligation
to arrange for such sale at any particular price, and that the proceeds of any such sale may not be sufficient to satisfy the Grantee’s
minimum Tax Withholding Obligation. Accordingly, the Grantee agrees to pay to the Company or any Related
Entity as soon as practicable, including through additional payroll withholding, any amount of the Tax Withholding Obligation
that is not satisfied by the sale of Shares described above.

 

(iii)By Check, Wire Transfer or Other
Means. At any time not less than five (5) business days (or such fewer number of business days as determined by the Administrator)
before any Tax Withholding Obligation arises (e.g., a vesting date), the Grantee may elect to satisfy the Grantee’s Tax Withholding
Obligation by delivering to the Company an amount that the Company determines is sufficient to satisfy the Tax Withholding Obligation
by (x) wire transfer to such account as the Company may direct, (y) delivery of a certified check payable to the Company,
or (z) such other means as specified from time to time by the Administrator.

 

Notwithstanding the foregoing, the Company
also may satisfy any Tax Withholding Obligation by offsetting any amounts (including, but not limited to, salary, bonus and severance
payments) due to the Grantee by the Company.

 

6.Stop-Transfer Notices. In order
to ensure compliance with the restrictions on transfer set forth in this Agreement, the Notice or the Plan, the Company may issue
appropriate “stop transfer” instructions to its transfer agent, if any, and, if the Company transfers its own securities,
it may make appropriate notations to the same effect in its own records. The Company may issue a “stop transfer” instruction
if the Grantee fails to satisfy any Tax Withholding Obligations.

 

    	3

    	 

    

 

7.Refusal to Transfer. The Company
shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of
any of the provisions of this Agreement or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends
to any purchaser or other transferee to whom such Shares shall have been so transferred.

 

8.Restrictive Legends. The Grantee
understands and agrees that the Company shall cause the legends set forth below or legends substantially equivalent thereto, to
be placed upon any certificate(s) evidencing ownership of the Shares together with any other legends that may be required by the
Company or by state or federal securities laws:

 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE RESTRICTED
BY THE TERMS OF THAT CERTAIN RESTRICTED STOCK BONUS AWARD AGREEMENT BETWEEN THE COMPANY AND THE NAMED STOCKHOLDER. THE SHARES REPRESENTED
BY THIS CERTIFICATE MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH SUCH AGREEMENT, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF
THE COMPANY.

 

9.Entire Agreement: Governing Law.
The Notice, the Plan and this Agreement constitute the entire agreement of the parties with respect to the subject matter hereof
and supersede in their entirety all prior undertakings and agreements of the Company and the Grantee with respect to the subject
matter hereof, and may not be modified adversely to the Grantee’s interest except by means of a writing signed by the Company
and the Grantee. These agreements are to be construed in accordance with and governed by the internal laws of the State of Nevada
without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the
internal laws of the State of Nevada to the rights and duties of the parties. Should any provision of the Notice or this Agreement
be determined to be illegal or unenforceable, the other provisions shall nevertheless remain effective and shall remain enforceable.

 

10.Construction. The captions
used in the Notice and this Agreement are inserted for convenience and shall not be deemed a part of the Award for construction
or interpretation. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include
the singular. Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise.

 

11.Administration and Interpretation.
Any question or dispute regarding the administration or interpretation of the Notice, the Plan or this Agreement shall be submitted
by the Grantee or by the Company to the Administrator. The resolution of such question or dispute by the Administrator shall be
final and binding on all persons.

 

12.Venue. The parties agree that
any suit, action, or proceeding arising out of or relating to the Notice, the Plan or this Agreement shall be brought in the United
States District Court for the District of Massachusetts (or should such court lack jurisdiction to hear such action, suit or proceeding,
in a Massachusetts state court in the County of Middlesex) and that the parties shall submit to the jurisdiction of such court.
The parties irrevocably waive, to the fullest extent permitted by law, any objection the party may have to the laying of venue
for any such suit, action or proceeding brought in such court. If any one or more provisions of this Section 12 shall for
any reason be held invalid or unenforceable, it is the specific intent of the parties that such provisions shall be modified to
the minimum extent necessary to make it or its application valid and enforceable.

 

    	4

    	 

    

 

13.Notices. Any notice required
or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery, upon deposit for
delivery by an internationally recognized express mail courier service or upon deposit in the United States mail by certified mail
(if the parties are within the United States), with postage and fees prepaid, addressed to the other party at its address as shown
in these instruments, or to such other address as such party may designate in writing from time to time to the other party.

 

END OF AGREEMENT

 

 

    	5

    	 

    

 

EXHIBIT A

 

STOCK ASSIGNMENT SEPARATE FROM
CERTIFICATE

 

 

FOR VALUE RECEIVED, ____________________
hereby sells, assigns and transfers unto _______________________, _________ (______) shares of the Common Stock of Arch Therapeutics,
Inc., a Nevada corporation (the “Company”), standing in his name on the books of, the Company represented by Certificate
No. _________________ herewith, and does hereby irrevocably constitute and appoint the Secretary of the Company attorney to
transfer the said stock in the books of the Company with full power of substitution.

 

DATED: ________________

 

____________________________________

 

[Please sign this document
but do not date it. The date and information of the transferee will be completed if and when the shares are assigned.]

 

 

 

    	1AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT

 

This Amendment No.
1 to Employment Agreement (this “Amendment”) is made as of August 13, 2013, by and between WidePoint Corporation (the
“Company”) and Steve L. Komar (“Executive”). Capitalized terms not otherwise defined herein shall have
the meanings assigned to such terms in the Original Agreement (as defined below).

 

WHEREAS, the Company
and Executive are parties to that certain Employment Agreement, dated August 13, 2010 and effective as of July 1, 2010 (the “Original
Agreement”);

 

WHEREAS, on June 27,
2012, the Company and Executive exercised their mutual option to extend the term of the Original Agreement to June 30, 2013; and

 

WHEREAS, the parties
desire to amend the Original Agreement as set forth herein to memorialize a change in certain employment terms in connection therewith.

 

NOW, THEREFORE, in
consideration of the mutual covenants and undertakings herein contained, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto intending to be legally bound do hereby agree as follows:

 

1.Effective as
of July 1, 2013, Section 2 of the Original Agreement is hereby amended to provide that the term of Executive’s employment
under the Original Agreement may be extended for an additional six (6) months from June 30, 2013 through and including December
31, 2013 (the “Extension Option”), at the same Base Salary and benefits as in effect immediately prior to the exercise
of the Extension Option.

 

2.The parties hereby
exercise the Extension Option to be effective as of July 1, 2013.

 

3Except as expressly
provided for in this Amendment, all of the terms, conditions and provisions of the Original Agreement remain unaltered and are
in full force and effect and are expressly hereby ratified and confirmed. The Original Agreement and this Amendment shall be read
and construed as one agreement.

 

4If any provision
of this Amendment is construed to be invalid, illegal or unenforceable by a court of competent jurisdiction, then the remaining
provisions hereof shall not be affected thereby and shall be enforceable without regard thereto.

 

5This Amendment
may be executed in any number of counterparts, each of which when so executed and delivered shall be an original hereof, and it
shall not be necessary in making proof of this Amendment to produce or account for more than one counterpart hereof. The
parties further agree that facsimile signatures or signatures scanned into .pdf (or similar) format and sent by e-mail shall be
deemed original signatures.

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
the parties have executed this Amendment No. 1 to Employment Agreement as of the date first written above.

  

EXECUTIVE:

 

	/s/ Steve L. Komar	 
	Steve L. Komar	 

  

WIDEPOINT CORPORATION

  

	By:/s/ James T. McCubbin	 
	  James T. McCubbin	 
	  EVP & CFO	 

 

    	2

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