Document:

Exhibit
4.1

 

DESCRIPTION
OF THE REGISTRANT’S SECURITIES

REGISTERED
PURSUANT TO SECTION 12 OF THE SECURITIES

EXCHANGE
ACT OF 1934

 

Misonix,
Inc., a Delaware corporation, has one class of equity securities registered under Section 12 of the Securities Exchange Act of
1934: common stock, par value $0.0001 per share (“common stock”). Our preferred stock, par value $0.0001 per share
(“preferred stock”), is not registered under the Exchange Act.

 

References
in the following discussion to “we,” “our” and “us” and similar references mean Misonix, Inc.

 

The
following description of our capital stock is a summary and is qualified in its entirety by provisions of the Delaware General
Corporation Law (the “DGCL”) and by reference to the terms and provisions of our Amended and Restated Certificate
of Incorporation (the “Charter”) and Bylaws (the “Bylaws”), which are incorporated herein by reference
and attached as exhibits to our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission.

 

Authorized
Capital Stock 

 

Pursuant
to our Charter, the total number of shares of all classes of capital stock which we are authorized to issue is 47,000,000 shares,
consisting of: (1) 45,000,000 shares of common stock and (2) 2,000,000 shares of preferred stock.

 

Common
Stock 

 

Dividend
Rights 

 

Subject
to preferences that may be applicable to any then outstanding preferred stock, holders of our common stock are entitled to receive
ratably the dividends, if any, as may be declared from time to time by our Board of Directors (the “Misonix Board”)
out of funds legally available for that purpose.

 

Voting
Rights 

 

Each
holder of our common stock is entitled to one vote for each share on all matters to be voted on by the stockholders, including
the election of directors. Our stockholders do not have cumulative voting rights in the election of directors. Accordingly, holders
of a plurality of the voting shares are able to elect all of the directors.

 

Liquidation

 

In
the event of a liquidation, dissolution or winding up of Misonix, holders of our common stock would be entitled to share ratably
in the net assets remaining after payment in full of all debts and other liabilities of Misonix and satisfaction of any liquidation
preference granted to the holders of any then outstanding shares preferred stock.

 

Other
Rights 

 

Holders
of our common stock have no preemptive, conversion, subscription or other rights, and there are no redemption or sinking fund
provisions applicable to our common stock. The holders of our common stock will have and possess all rights pertaining to the
capital stock of Misonix, subject to the preferences, qualifications, limitations, voting rights and restrictions with respect
to any series of preferred stock of Misonix that may be issued with any preference or priority over the Misonix common stock.

 

Fully
Paid and Nonassessable 

 

All
of the outstanding shares of our common stock are fully paid and nonassessable.

 

    	 	 	 

     

    

 

Preferred
Stock 

 

Under
the terms of our Charter, our board is authorized, subject to limitations prescribed by the DGCL and by our Charter, to issue
up to 2,000,000 shares of preferred stock in one or more series without further action by the holders of our common stock. Our
board has discretion, subject to limitations prescribed by the Delaware General Corporation Law and by our Charter, to determine
the designation, powers, preferences and rights, including voting rights, dividend rights, conversion rights, redemption privileges
and liquidation preferences, of each series of preferred stock. The issuance of preferred stock may have the effect of delaying,
deferring or preventing a change of control of Misonix and may adversely affect the price of our common stock, and the voting
and other rights of the holders of our common stock.

 

Anti-Takeover
Effects of Provisions of Our Charter, Bylaws and Delaware Law 

 

Some
provisions of Delaware law and our Charter and Bylaws contain provisions that could make the following transactions more difficult:
acquisition of Misonix by means of a tender offer; acquisition of Misonix by means of a proxy contest or otherwise; or removal
of Misonix’s incumbent officers and directors. It is possible that these provisions could make it more difficult to accomplish
or could deter transactions that stockholders may otherwise consider to be in their best interest or in Misonix’s best interests,
including transactions that might result in a premium over the market price for Misonix’s shares of common stock.

 

These
provisions, summarized below, are expected to discourage coercive takeover practices and inadequate takeover bids. These provisions
are also designed to encourage persons seeking to acquire control of Misonix to first negotiate with the Misonix board. Misonix
believes that the benefits of increased protection of its potential ability to negotiate with the proponent of an unfriendly or
unsolicited proposal to acquire or restructure Misonix outweigh the disadvantages of discouraging these proposals because negotiation
of these proposals could result in an improvement of their terms.

 

Delaware
Anti-Takeover Statute 

 

Misonix
is subject to Section 203 of the Delaware General Corporation Law, which prohibits persons deemed “interested shareholders”
from engaging in a “business combination” with a publicly-held Delaware corporation for three years following the
date these persons become interested shareholders unless the business combination is, or the transaction in which the person became
an interested shareholder was, approved in a prescribed manner or another prescribed exception applies. Generally, an “interested
shareholder” is a person who, together with affiliates and associates, beneficially owns, or within three years prior to
the determination of interested shareholder status did own, 15% or more of a corporation’s voting stock. Generally, a “business
combination” includes a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested
shareholder. The existence of this provision may have an anti-takeover effect with respect to transactions not approved in advance
by the board of directors, such as discouraging takeover attempts that might result in a premium over the market price of our
common stock.

 

Undesignated
Preferred Stock 

 

The
ability to authorize undesignated preferred stock makes it possible for the Misonix Board to issue preferred stock with voting
or other rights or preferences that could impede the success of any attempt to change control of Misonix. These and other provisions
may have the effect of deterring hostile takeovers or delaying changes in control or management of Misonix.

 

No
Cumulative Voting

 

Delaware
law provides that stockholders are not entitled to the right to cumulate votes in the election of directors unless the corporation’s
certificate of incorporation provides otherwise. Our Charter does not expressly provide for cumulative voting. Without cumulative
voting, a minority stockholder may not be able to gain as many seats on the Misonix Board as the stockholder would be able to
gain if cumulative voting were permitted. The absence of cumulative voting makes it more difficult for a minority stockholder
to secure a seat on the Misonix Board and thereby influence the Misonix Board’s decision regarding a takeover.

 

Election
and Removal of Directors; Filling Directors 

 

Because
our stockholders do not have cumulative voting rights, our stockholders holding a majority of the shares of common stock outstanding
are able to elect all of our directors or remove a director by a majority vote. Our Charter and Bylaws provide that our business
and affairs will be managed by the Misonix Board and that, subject to the rights, if any, of any series of preferred stock to
elect additional directors under circumstances specified in a preferred stock designation, the number of directors that will constitute
the Misonix Board be fixed exclusively by resolutions adopted by the whole Misonix Board. In addition, our Charter and Bylaws
provide that any board vacancy may be filled solely by the affirmative vote of a majority of the remaining directors then in office
and entitled to vote, except that a vacancy created by the removal of a director by stockholders for cause or without cause may
be filled by the stockholders at the meeting at which the director is removed or, if not so filled, then by the remaining directors.
Note that each amendment to the Charter requires the same vote of the holders of two-thirds of the outstanding Misonix common
stock for its repeal or further amendment.

 

Choice
of Forum 

 

Unless
Misonix consents in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware will be the
exclusive forum for: any derivative action or proceeding brought on Misonix’s behalf; any action asserting a breach of fiduciary
duty; any action asserting a claim against Misonix arising pursuant to the Delaware General Corporation Law; or any action asserting
a claim against Misonix that is governed by the internal affairs doctrine. Notwithstanding the foregoing, this provision will
not apply to any claims arising under the Securities Act or the Exchange Act, or any other claim for which the federal courts
have exclusive jurisdiction. The enforceability of similar choice of forum provisions has been challenged in legal proceedings,
and it is possible that, in connection with such actions or any future actions, a court could find the choice of forum provision
to be inapplicable or unenforceable. It is possible that a court could find that such a choice of forum provision is inapplicable
for a particular claim or action or that such provisions are unenforceable.Exhibit
10.19

 

MISONIX,
INC. 2017 EQUITY INCENTIVE PLAN, AS AMENDED

 

Section
1. Purpose.

 

The
purposes of this Misonix, Inc. 2017 Equity Incentive Plan (the “Plan”) are (1) to make available to key employees,
directors and consultants certain compensatory arrangements related to the growth in value of the common stock of the Company
so as to generate an increased incentive to contribute to the Company’s future financial success and prosperity, (2) to
enhance the ability of the Company and its Affiliates to attract and retain exceptionally qualified individuals whose efforts
can affect the financial growth and profitability of the Company, and (3) to align generally the interests of key employees, directors
and consultants of the Company and its Affiliates with the interests of the Company’s stockholders.

 

Section
2. Definitions.

 

As
used in the Plan, the following terms shall have the meanings set forth below:

 

(a)
“Affiliate” shall mean (i) any entity that, directly or through one or more intermediaries, is controlled by
the Company or (ii) any entity in which the Company has a significant equity interest, as determined by the Committee.

 

(b)
“Award” shall mean any Option, Restricted Stock Award, Restricted Stock Unit, Dividend Equivalent, Other Stock-Based
Award, Performance Award or Substitute Award, granted under the Plan.

 

(c)
“Award Agreement” shall mean any written agreement, contract, or other instrument or document evidencing any
Award granted under the Plan.

 

(d)
“Board of Directors” shall mean the Board of Directors of the Company as it may be composed from time to time.

 

(e)
“Business Relationship” shall mean, with respect to a Consultant, such Consultant continuing to render, in
the sole determination of the Board of Directors or the Committee, substantial ongoing services as an independent contractor of
the Company.

 

(f)
“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, or any successor code thereto.

 

(g)
“Committee” shall mean the Board of Directors, excluding any director who is not a “Non-Employee Director”
within the meaning of Rule 16b-3, or any such other committee designated by the Board of Directors to administer the Plan, which
committee shall be composed of not less than the minimum number of members of the Board of Directors from time to time required
by Rule 16b-3 or any applicable law, each of whom is a Non-Employee Director within the meaning of Rule 16b-3.

 

(h)
“Company” shall mean Misonix, Inc., or any successor thereto.

 

(i)
“Company Service” shall mean any service with the Company or any Affiliate in which the Company have at least
a 51% ownership interest.

 

(j)
“Consultant” shall mean a natural person providing bona fide services to the Company or any Affiliate that
are not in connection with the offer or sale of securities in a capital raising transaction, and such party does not directly
or indirectly promote or maintain a market in the Company’s securities.

 

(k)
“Covered Award” means an Award, other than an Option or other Award with an exercise price per Share not less
than the Fair Market Value of a Share on the date of grant of such Award, to a Covered Employee, if it is designated as such by
the Committee at the time it is granted. Covered Awards are subject to the provisions of Section 13 of this Plan.

 

(l)
“Covered Employees” means Participants who are designated by the Committee prior to the grant of an Award who
are, or are expected to be at the time taxable income will be realized with respect to the Award, “covered employees”
within the meaning of Section 162(m).

 

    	 

    	 

    

 

(m)
“Dividend Equivalent” shall mean any right granted under Section 6(c) of the Plan.

 

(n)
“Effective Date” shall mean the date that the Plan is first approved by the stockholders of the Company.

 

(o)
“Employee” shall mean any employee or employee director of the Company or of any Affiliate.

 

(p)
“Fair Market Value” shall mean, with respect to any property (including, without limitation, any Shares or
other securities), the fair market value of such property determined by such methods, or procedures as shall be established from
time to time by the Committee.

 

(q)
“Incentive Stock Option” or “ISO” shall mean an option granted under Section 6(a) of the
Plan that is intended to meet the requirements of Section 422 of the Code, or any successor provision thereto.

 

(r)
“Non-Qualified Stock Option” shall mean an option granted under Section 6(a) of the Plan that is not intended
to be an Incentive Stock Option.

 

(s)
“Option” shall mean an Incentive Stock Option or a Non-Qualified Stock Option.

 

(t)
“Other Stock-Based Award” shall mean any Award granted under Section 6(d) of the Plan.

 

(u)
“Participant” shall mean an Employee, Consultant or member of the Board of Directors who is granted an Award
under the Plan.

 

(v)
“Performance Award” shall mean any Award granted hereunder that complies with Section 6(e)(ii) of the Plan.

 

(w)
“Performance Goals” means one or more objective performance goals, established by the Committee at the time
an Award is granted, and based upon the attainment of targets for one or any combination of the following criteria, which may
be determined solely by reference to the Company’s performance or the performance of a subsidiary or an Affiliate (or any
business unit thereof) or based on comparative performance relative to other companies: (i) net income; (ii) earnings before income
taxes; (iii) earnings per share; (iv) return on stockholders’ equity; (v) expense management; (vi) profitability of an identifiable
business unit or product; (vii) revenue growth; (viii) earnings growth; (ix) total stockholder return; (x) cash flow; (xi) return
on assets; (xii) pre-tax operating income; (xiii) net economic profit (operating earnings minus a charge for capital); (xiv) customer
satisfaction; (xv) provider satisfaction; (xvi) employee satisfaction; (xvii) strategic innovation; or (xviii) any combination
of the foregoing. Performance Goals shall be set by the Committee within the time period prescribed by Section 162(m).

 

(x)
“Person” shall mean any individual, corporation, partnership, association, joint stock company, trust, unincorporated
organization, or government or political subdivision thereof.

 

(y)
“Released Securities” shall mean securities that were Restricted Securities with respect to which all applicable
restrictions have expired, lapsed, or been waived.

 

(z)
“Restricted Securities” shall mean Awards of Restricted Stock or other Awards under which issued and outstanding
Shares are held subject to certain restrictions.

 

(aa)
“Restricted Stock” shall mean any Share granted under Section 6(b) of the Plan.

 

(bb)
“Restricted Stock Unit” shall mean any right granted under Section 6(b) of the Plan that is denominated in
Shares.

 

(cc)
“Rule 16b-3” shall mean Rule 16b-3 promulgated by the Securities and Exchange Commission under the Securities
Exchange Act of 1934 as amended, or any successor rule and the regulation thereto.

 

(dd)
“Section 162(m)” means Section 162(m) of the Code or any successor thereto, and the Treasury Regulations thereunder.

 

(ee)
“Share” or “Shares” shall mean share(s) of the common stock of the Company, and such other
securities or property as may become the subject of Awards pursuant to the adjustment provisions of Section 4(c).

 

(ff)
“Substitute Award” shall mean an Award granted in assumption of, or in substitution for, an outstanding award
previously granted by a company acquired by the Company or with which the Company combines.

 

    	 

    	 

    

 

Section
3. Administration.

 

(a)
The Plan shall be administered by the Committee. Subject to the terms of the Plan and applicable law, the Committee shall have
full power and authority to designate Participants and:

 

	 	(i)	determine
    the type or types of Awards to be granted to each Participant under the Plan;
	 	 	 
	 	(ii)	determine
    the number of Shares to be covered by (or with respect to which payments, rights, or other matters are to be calculated in
    connection with) Awards;
	 	 	 
	 	(iii)	determine
    the terms and conditions of any Award;
	 	 	 
	 	(iv)	determine
    whether, to what extent, and under what circumstances Awards may be settled or exercised in cash, Shares, other securities,
    other Awards, or other property, or to what extent, and under what circumstances Awards may be canceled, forfeited, or suspended,
    and the method or methods by which Awards may be settled, exercised, canceled, forfeited, or suspended;
	 	 	 
	 	(v)	determine
    whether, to what extent, and under what circumstances cash, Shares, other securities, other Awards, other property, and other
    amounts payable with respect to an Award under the Plan shall be deferred either automatically or at the election of the holder
    thereof or of the Committee;
	 	 	 
	 	(vi)	interpret
    and administer the Plan and any instrument or agreement relating to the Plan, or any Award made under the Plan, including
    any Award Agreement;
	 	 	 
	 	(vii)	establish,
    amend, suspend, or reconcile such rules and regulations and appoint such agents as it shall deem appropriate for the proper
    administration of the Plan; and
	 	 	 
	 	(viii)	make
    any other determination and take any other action that the Committee deems necessary or desirable for the administration of
    the Plan.

 

(b)
Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations, and other decisions under
or with respect to the Plan, any Award, or any Award Agreement, shall be within the sole discretion of the Committee, may be made
at any time, and shall be final, conclusive, and binding upon all Persons, including the Company, any Affiliate, any Participant,
any holder or beneficiary of any Award, and any employee of the Company or of any Affiliate.

 

(c)
The Committee may delegate to one or more executive officers of the Company or to a committee of executive officers of the Company
the authority to grant Awards to Employees who are not officers or directors of the Company and to amend, modify, cancel or suspend
Awards to such employees, subject to Sections 7 and 9.

 

Section
4. Shares Available For Awards.

 

(a)
Maximum Shares Available. The maximum number of Shares that may be issued to Participants pursuant to Awards under the
Plan shall be 1,950,000 Shares (the “Plan Maximum”), subject to adjustment as provided in Section 4(c) below.
Pursuant to any Awards, the Company may in its discretion issue treasury Shares or authorized but previously unissued Shares pursuant
to Awards hereunder. For the purpose of accounting for Shares available for Awards under the Plan, the following shall apply:

 

	 	(i)	Only
    Shares relating to Awards actually issued or granted hereunder shall be counted against the Plan Maximum. Shares corresponding
    to Awards that by their terms expired, or that are forfeited, canceled or surrendered to the Company without full consideration
    paid therefor shall not be counted against the Plan Maximum.
	 	 	 
	 	(ii)	Shares
    that are forfeited by a Participant after issuance, or that are reacquired by the Company after issuance without full consideration
    paid therefor, shall be deemed to have never been issued under the Plan and accordingly shall not be counted against the Plan
    Maximum.
	 	 	 
	 	(iii)	Awards
    not denominated in Shares shall be counted against the Plan Maximum in such amount and at such time as the Committee shall
    determine under procedures adopted by the Committee consistent with the purposes of the Plan.

 

    	 

    	 

    

 

	 	(iv)	Substitute
    Awards shall not be counted against the Plan Maximum, and clauses (i) and (ii) of this Section shall not apply to such Awards.
	 	 	 
	 	(v)	The
    maximum number of Shares that may be the subject of Awards made to a single Participant in any one year period shall be 500,000.
	 	 	 
	 	(vi)	With
    respect to any performance period no Participant may be granted Awards of incentive stock or incentive units that vest upon
    the achievement of performance objectives in respect of more than 500,000 Shares of common stock or, if such Awards are settled
    in cash, the fair market value thereof determined at the time of payment, each subject to adjustment as provided in Section
    4(c) below.

 

(b)
Shares Available for ISOs. The maximum number of Shares for which ISOs may be granted under the Plan shall not exceed the
Plan Maximum as defined in Section 4(a) above, subject to adjustment as provided in Section 4(c) below.

 

(c)
Adjustments to Avoid Dilution. Notwithstanding paragraphs (a) and (b) above, in the event of a stock or extraordinary cash
dividend, split-up or combination of Shares, merger, consolidation, reorganization, recapitalization, or other change in the corporate
structure or capitalization affecting the outstanding common stock of the Company, such that an adjustment is determined by the
Committee to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made
available under the Plan or any Award, then the Committee may make appropriate adjustments to (i) the number or kind of Shares
available for the future granting of Awards hereunder, (ii) the number and type of Shares subject to outstanding Awards, and (iii)
the grant, purchase, or exercise price with respect to any Award; or if it deems such action appropriate, the Committee may make
provision for a cash payment to the holder of an outstanding Award; provided, however, that with respect to any ISO no
such adjustment shall be authorized to the extent that such would cause the ISO to violate Code Section 422 or any successor provision
thereto. The determination of the Committee as to the adjustments or payments, if any, to be made shall be conclusive.

 

(d)
Other Plans. Shares issued under other plans of the Company shall not be counted against the Plan Maximum under the Plan.

 

Section
5. Eligibility.

 

Any
director of the Company, Consultant or Employee shall be eligible to be designated a Participant.

 

Section
6. Awards.

 

(a)
Options. The Committee is hereby authorized to grant Options to Participants with the following terms and conditions and
with such additional terms and conditions, not inconsistent with the provisions of the Plan, as the Committee shall determine:

 

	 	(i)	Exercise Price.
    The exercise price per Share under an Option shall be determined by the Committee; provided, however, that except in the
    case of Substitute Awards, no Option granted hereunder may have an exercise price of less than 100% of Fair Market Value of
    a Share on the date of grant.
	 	 	 
	 	(ii)
    	Times
    and Method of Exercise. The Committee shall determine
    the time or times at which an Option may be exercised in whole or in part; in no event, however, shall the period for exercising
    an Option extend more than 10 years from the date of grant. The Committee shall also determine the method or methods by which
    Options may be exercised, and the form or forms (including without limitation, cash, Shares, other Awards, or other property,
    or any combination thereof, having a Fair Market Value on the exercise date equal to the relevant exercise price), in which
    payment of the exercise price with respect thereto may be made or deemed to have been made.
	 	 	 
	 	(iii)	Incentive Stock
    Options. The terms of any Incentive Stock Option granted under the Plan shall comply in all respects with the provisions
    of Section 422 of the Code, or any successor provision thereto, and any regulations promulgated thereunder.

 

    	 

    	 

    

 

	 	(iv)	Termination.
    In the event that a Participant terminates employment or director status or becomes disabled, or in the case of a Consultant,
    ceases to have a Business Relationship with the Company, Options granted hereunder shall be exercisable only as specified
    below:

 

	 	(A)	Disability
    or Death. Except as otherwise provided in an employment agreement with a Participant or as the Committee may otherwise
    provide, if a Participant becomes disabled or dies, any vested, unexercised portion of an Option that is at least partially
    vested at the time of the termination shall be forfeited in its entirety if not exercised by the Participant (or his or her
    heirs or representatives) within six (6) months of the date of death or disability, unless the Committee has in its sole discretion
    established an additional exercise period (but in any case not longer than the original option term). Except as otherwise
    provided in an employment agreement with a Participant or as the Committee may otherwise provide, any portion of such partially
    vested Option that is not vested at the time of disability or death shall be forfeited. Except as otherwise provided in an
    employment agreement with a Participant or as the Committee may otherwise provide, any outstanding Option granted to a Participant
    at the time of disability or death, for which no vesting has occurred at the time of disability or death, shall be forfeited
    on the date of disability or death.
	 	 	 
	 	(B)	Termination
    for Reasons Other Than Death or Disability. Except as otherwise provided in an employment agreement with a Participant
    or as the Committee may otherwise provide, if a Participant terminates employment or director status for reasons other than
    death or disability, or in the case of a Consultant, ceases to have a Business Relationship with the Company, any vested,
    unexercised portion of an Option that is at least partially vested at the time of the termination shall be forfeited in its
    entirety if not exercised by the Participant within three (3) months of the date of termination of employment or director
    status, unless the Committee has in its sole discretion established an additional exercise period (but in any case not longer
    than the original option term). Any portion of such partially vested Option that is not vested at the time of termination
    shall be forfeited unless the Committee has in its sole discretion established that a Participant may continue to satisfy
    the vesting requirements beyond the date of his or her termination of employment, director or Consultant status. Except as
    otherwise provided in an employment agreement with a Participant or as the Committee may otherwise provide, any outstanding
    Option granted to a Participant terminating employment, director or Consultant status other than for death or disability,
    for which no vesting has occurred at the time of the termination shall be forfeited on the date of termination.
	 	 	 
	 	(C)	Sale
    of Business. Except as otherwise provided in an employment agreement with a Participant or as the Committee may otherwise
    provide, in the event the “business unit,” (defined as a division, subsidiary, unit or other delineation
    that the Committee in its sole discretion may determine) for which the Participant performs substantially all of his or her
    services is assigned, sold, outsourced or otherwise transferred, including an asset, stock or joint venture transaction, to
    an unrelated third party such that after such transaction the Company owns or controls directly or indirectly less than 51%
    of the business unit, the affected Participant shall become 100% vested in all outstanding Options as of the date of the closing
    of such transaction, whether or not fully or partially vested, and such Participant shall be entitled to exercise such Options
    during the three (3) months following the closing of such transaction, unless the Committee has in its sole discretion established
    an additional exercise period (but in any case not longer than the original option term). Except as otherwise provided in
    an employment agreement with a Participant or as the Committee may otherwise provide, all Options which are unexercised at
    the end of such three (3) months shall be automatically forfeited.
	 	 	 
	 	(D)	Conditions
    Imposed on Unvested Options. Notwithstanding the foregoing provisions describing the additional exercise periods for Options
    upon termination of employment, director or Consultant status, the Committee may in its sole discretion condition the right
    of a Participant to exercise any portion of a partially vested Option for which the Committee has established an additional
    exercise period on the Participant’s agreement to adhere to such conditions and stipulations which the Committee may
    impose, including, but not limited to, restrictions on the solicitation of employees or independent contractors, disclosure
    of confidential information, covenants not to compete, refraining from denigrating through adverse or disparaging communication,
    written or oral, whether or not true, the operations, business, management, products or services of the Company or its current
    or former employees and directors, including without limitation, the expression of personal views, opinions or judgements.
    The unvested Options of any Participant for whom the Committee has given an additional exercise period subject to such conditions
    subsequent as set forth in this Section 6(a)(iv)(D) shall be forfeited immediately upon a breach of such conditions.

 

    	 

    	 

    

 

	 	(E)	Forfeiture
    for Gross Misconduct. Notwithstanding anything to the contrary herein, any Participant who engages in “Gross
    Misconduct”, as defined herein, (including any Participant who may otherwise qualify for disability status) shall
    forfeit all outstanding, unexercised Options, whether vested or unvested, as of the date such Gross Misconduct occurs. For
    purposes of the Plan, Gross Misconduct shall be defined to mean (i) the Participant’s conviction of a felony (or crime
    of similar magnitude in non-U.S. jurisdictions) in connection with the performance or nonperformance of the Participant’s
    duties or (ii) the Participant’s willful act or failure to act in a way that results in material injury to the business
    or reputation of the Company or employees of the Company.
	 	 	 
	 	(F)	Vesting.
    For purposes of the Plan, any reference to the “vesting” of an Option shall mean any events or conditions
    which, if satisfied, entitle a Participant to exercise an Option with respect to all or a portion of the shares covered by
    the Option. The complete vesting of an Option shall be subject to Section 6(a)(iv)(E) hereof. Such vesting events or conditions
    may be set forth in the Notice of Grant or otherwise be determined by the Committee.

 

(b)
Restricted Stock and Restricted Stock Units. The Committee is hereby authorized to grant Awards of Restricted Stock and
or Restricted Stock Units to Participants with the following terms and conditions.

 

	 	(i)	Restrictions.
    Shares of Restricted Stock and Restricted Stock Units shall be subject to such restrictions as the Committee may impose
    (including, without limitation, continued employment, director or Consultant service over a specified period or the attainment
    of specified Performance Objectives (as defined in Section 6(e)(ii)(B)) or Performance Goals, in accordance with Section 13),
    which restrictions may lapse separately or concurrently at such time or times, in such installments or otherwise, as the Committee
    may deem appropriate.
	 	 	 
	 	(ii)	Registration.
    Any Restricted Stock granted under the Plan may be evidenced in such manner as the Committee may deem appropriate including,
    without limitation, book-entry registration or issuance of a stock certificate or certificates. In the event any stock certificate
    is issued in respect of Shares of Restricted Stock granted under the Plan, such certificate shall be registered in the name
    of the Participant and shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to
    such Restricted Stock.
	 	 	 
	 	(iii)	Termination.
    Except as otherwise provided in an employment agreement with a Participant or as the Committee may otherwise provide,
    upon termination of employment or director service of a Participant, or in the case of a Consultant, ceases to have a Business
    Relationship with the Company, for any reason during the applicable restriction period, all Restricted Stock and all Restricted
    Stock Units, or portion thereof, still subject to restriction shall be forfeited and reacquired by the Company; provided,
    however, that in the event termination of employment or director service is due to the death or disability of the Participant,
    the Committee may waive in whole or in part any or all remaining restrictions with respect to Restricted Stock or Restricted
    Stock Units.

 

(c)
Dividend Equivalents. The Committee may grant to Participants Dividend Equivalents under which the holders thereof shall
be entitled to receive payments equivalent to dividends with respect to a number of Shares determined by the Committee, and the
Committee may provide that such amounts shall be deemed to have been reinvested in additional Shares or otherwise reinvested.
Subject to the terms of the Plan, such Awards may have such terms and conditions as the Committee shall determine.

 

    	 

    	 

    

 

	 	(i)	Termination.
    Except as otherwise provided in an employment agreement with a Participant or as the Committee may otherwise provide,
    upon termination of the Participant’s employment or director service, or in the case of a Consultant, ceases to have
    a Business Relationship with the Company, for any reason during the term of a Dividend Equivalent, the right of a Participant
    to payment under a Dividend Equivalent shall terminate as of the date of termination; provided, however, that in the event
    the Participant’s employment or director service terminates because of the death or disability of a Participant the
    Committee may determine that such right terminates at a later date.

 

(d)
Other Stock Based Awards. The Committee is hereby authorized to grant to Participants such other Awards that are denominated
or payable in, valued in whole or in part by reference to, or otherwise based on or related to Shares (including without limitation
securities convertible into Shares), as are deemed by the Committee to be consistent with the purposes of the Plan; provided,
however, that such grants must comply with Rule 16b-3 and applicable law.

 

	 	(i)	Consideration.
    If applicable, Shares or other securities delivered pursuant to a purchase right granted under this Section 6(d) shall be
    purchased for such consideration, which may be paid by such method or methods and in such form or forms, including without
    limitation cash, Shares, other securities, other Awards or other property, or any combination thereof, as the Committee shall
    determine; provided, however, that except in the case of Substitute Awards, no derivative security (as defined in Rule 16b-3)
    awarded hereunder may have an exercise price of less than 100% of Fair Market Value of a Share on the date of grant.
	 	 	 
	 	(ii)	Termination.
    In granting any Stock-Based Award pursuant to this Section 6(d) the Committee shall also determine what effect the termination
    of employment or director service of the Participant holding such Award, or in the case of a Consultant, ceasing to have a
    Business Relationship with the Company, shall have on the rights of the Participant pursuant to the Award.

 

(e)
General. The following general provisions shall apply to all Awards granted hereunder, subject to the terms of other sections
of this Plan or any Award Agreement.

 

	 	(i)	Award
    Agreements. Each Award granted under this Plan shall be evidenced by an Award Agreement which shall specify the relevant
    material terms and conditions of the Award and which shall be signed by the Participant receiving such Award, if so indicated
    by the Award.
	 	 	 
	 	(ii)	Performance
    Awards. Subject to the other terms of this Plan, the payment, release or exercisability of any Award, in whole or in part,
    may be conditioned upon the achievement of such Performance Objectives (as defined below) during such performance periods
    as are specified by the Committee. Hereinafter in this Section 6(e)(ii) the terms payment, pay, and paid also refer to the
    release or exercisability of a Performance Award, as the case may require.

 

	 	(A)	Terms.
    The Committee shall establish the terms and conditions of any Performance Award including the Performance Objectives (as
    defined below) to be achieved during any performance period, the length of any performance period, any event the occurrence
    of which will entitle the holder to payment, and the amount of any Performance Award granted.
	 	 	 
	 	(B)	Performance
    Objectives. The Committee shall establish “Performance Objectives” the achievement of which shall entitle
    the Participant to payment under a Performance Award. Performance Objectives may be any measure of the business performance
    of the Company, or any of its divisions or Affiliates, including but not limited to the growth in book or market value of
    capital stock, the increase in the earnings in total or per share, or any other financial or non-financial indicator specified
    by the Committee.
	 	 	 
	 	(C)	Fulfillment
    of Conditions and Payment. The Committee shall determine in a timely manner whether all or part of the conditions to payment
    of a Performance Award have been fulfilled and, if so, the amount, if any, of the payment to which the Participant is entitled.

 

	 	(iii)	Rule
    16b-3 Six Month Limitations. To the extent required in order to render the grant of an Award, the exercise of an Award
    or any derivative security, or the sale of securities corresponding to an Award, an exempt transaction under Section 16(b)
    of the Securities Exchange Act of 1934 only, any equity security granted under the Plan to a Participant must be held by such
    Participant for at least six months from the date of grant, or in the case of a derivative security granted pursuant to the
    Plan to a Participant, at least six months must elapse from the date of acquisition of the derivative security to the date
    of disposition of the derivative security (other than upon exercise or conversion) or its underlying equity security. Terms
    used in the preceding sentence shall, for the purposes of such sentence only, have the meanings if any, assigned or attributed
    to them under Rule 16b-3.

 

    	 

    	 

    

 

	 	(iv)	Limits
    on Transfer of Awards. No Award (other than Released Securities), and no right under any such Award shall be assignable,
    alienable, pledgeable, attachable, encumberable, saleable, or transferable by a Participant other than by will or by the laws
    of descent and distribution or pursuant to a domestic relations order (or, in the case of Awards that are forfeited or canceled,
    to the Company); and any purported assignment, sale, transfer, thereof shall be void and unenforceable against the Company
    or Affiliate. If the Committee so indicates in writing to a Participant, he or she may designate one or more beneficiaries
    who may exercise the rights of the Participant and receive any property distributable with respect to any Award upon the death
    of the Participant.
	 	 	 
	 	(v)	Exercisability.
    Each Award, and each right under any Award, shall be exercisable, during the Participant’s lifetime only by the
    Participant or, if permissible under applicable law, by the Participant’s guardian or legal representative or by a transferee
    receiving such Award pursuant to a domestic relations order referred to above.
	 	 	 
	 	(vi)	No
    Cash Consideration for Awards. Awards may be granted for no cash consideration, or for such minimal cash consideration
    as the Committee may specify, or as may be required by applicable law.
	 	 	 
	 	(vii)	Awards
    May Be Granted Separately or Together. Awards may, in the discretion of the Committee, be granted either alone or in addition
    to, in tandem with, or in substitution for any other Award or any award granted under any other plan of the Company or any
    Affiliate. Awards granted in addition to or in tandem with other Awards or in addition to or in tandem with awards granted
    under any other plan of the Company or any Affiliate may be granted either at the same time as or at a different time from
    the grant of such other Awards or awards. Performance Awards and Awards which are not Performance Awards may be granted to
    the same Participant.
	 	 	 
	 	(viii)	Forms
    of Payment Under Awards. Subject to the terms of the Plan and of any applicable Award Agreement, payments or transfers
    to be made by the Company or an Affiliate upon the grant, exercise, or payment of an Award may be made in such form or forms
    as the Committee shall determine, including, without limitation, cash, Shares, other securities, other Awards, or other property,
    or any combination thereof, and may be made in a single payment or transfer, in installments, or on a deferred basis, in each
    case in accordance with rules and procedures established by the Committee. Such rules and procedures may include, without
    limitation, provisions for the payment or crediting of reasonable interest on installment or deferred payments or the grant
    or crediting of Dividend Equivalents in respect of installment or deferred payments.
	 	 	 
	 	(ix)	Term
    of Awards. Except as provided in Sections 6(a)(ii) or 6(a)(iv), the term of each Award shall be for such period as may
    be determined by the Committee.
	 	 	 
	 	(x)	Share
    Certificates. All certificates for Shares or other securities delivered under the Plan pursuant to any Award or the exercise
    thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the
    Plan or the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon
    which such Shares or other securities are then listed, and any applicable Federal or state securities laws, and the Committee
    may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. Unrestricted
    certificates representing Shares, evidenced in such manner as the Committee shall deem appropriate, shall be delivered to
    the holder of Restricted Stock, Restricted Stock Units or any other relevant Award promptly after such related Shares shall
    become Released Securities.

 

    	 

    	 

    

 

Section
7. Amendment and Termination of Awards.

 

Except
to the extent prohibited by applicable law and unless otherwise expressly provided in an Award Agreement or in the Plan, the following
shall apply to all Awards.

 

(a)
Amendments to Awards. Subject to Section 6(b)(i), the Committee may waive any conditions or rights under, amend any terms
of, or amend, alter, suspend, discontinue, cancel or terminate, any Award heretofore granted without the consent of any relevant
Participant or holder or beneficiary of an Award; provided, however, that no such amendment, alteration, suspension, discontinuance,
cancellation or termination that would be adverse to the holder of such Award may be made without such holder’s consent.
Notwithstanding the foregoing, the Committee shall not amend any outstanding Option to change the exercise price thereof to any
price that is lower than the original exercise price thereof except in connection with an adjustment authorized under Section
4(c).

 

(b)
Adjustments of Awards Upon Certain Acquisitions. In the event the Company or an Affiliate shall issue Substitute Awards,
the Committee may make such adjustments, not inconsistent with the terms of the Plan, in the terms of Awards as it shall deem
appropriate in order to achieve reasonable comparability or other equitable relationship between the assumed awards and the Substitute
Awards granted under the Plan.

 

(c)
Adjustments of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events. The Committee shall be authorized
to make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring
events (including, without limitation, the events described in Section 4(c) hereof) affecting the Company, any Affiliate, or the
financial statements of the Company or any Affiliate, or of changes in applicable laws, regulations, or accounting principles,
whenever the Committee determines that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits
or potential benefits to be made available under the Plan or an Award Agreement.

 

(d)
Correction of Defects, Omissions, and Inconsistencies. The Committee may correct any defect, supply any omission, or reconcile
any inconsistency in any Award Agreement in the manner and to the extent it shall deem desirable to carry the Plan into effect.

 

Section
8. Acceleration upon a Change of Control. In the event of a Change of Control (as defined in Section 8(b) below) the
following shall apply:

 

(a)
Effect on Awards.

 

	 	(i)	Options.
    In the event of a Change of Control, (1) all Options outstanding on the date of such Change of Control shall become immediately
    and fully exercisable without regard to any vesting schedule provided for in the Option.
	 	 	 
	 	(ii)	Restricted
    Stock and Restricted Stock Units. In the event of a Change of Control, all restrictions applicable to any Restricted Stock
    or Restricted Stock Unit shall terminate and be deemed to be fully satisfied for the entire stated restricted period of any
    such Award, and the total number of underlying Shares shall become Released Securities. The Participant shall immediately
    have the right to the prompt delivery of certificates reflecting such Released Securities.
	 	 	 
	 	(iii)	Dividend
    Equivalents. In the event of a Change of Control, the holder of any outstanding Dividend Equivalent shall be entitled
    to surrender such Award to the Company and to receive payment of an amount equal to the amount that would have been paid over
    the remaining term of the Dividend Equivalent, as determined by the Committee.
	 	 	 
	 	(iv)	Other
    Stock Based Awards. In the event of a Change of Control, all outstanding Other Stock Based Awards of whatever type shall
    become immediately vested and payable in an amount that assumes that the Awards were outstanding for the entire period stated
    therein, as determined by the Committee.
	 	 	 
	 	(v)	Performance
    Awards. In the event of a Change of Control, Performance Awards for all performance periods, including those not yet completed,
    shall immediately become fully vested and payable in accordance with the following:

 

    	 

    	 

    

 

	 	(A)	Non-Financial
    Performance Objectives. The total amount of Performance Awards conditioned on nonfinancial Performance Objectives and
    those conditioned on financial performance shall be immediately payable (or exercisable or released, as the case may be) as
    if the Performance Objectives had been fully achieved for the entire performance period.
	 	 	 
	 	(B)	Financial
    Performance Objectives. For Performance Awards conditioned on financial Performance Objectives and payable in cash, the
    Committee shall determine the amount payable under such Award by taking into consideration the actual level of attainment
    of the Performance Objectives during that portion of the performance period that had occurred prior to the date of the Change
    of Control, and with respect to the part of the performance period that had not occurred prior to the date of the Change of
    Control, the Committee shall determine an anticipated level of attainment taking into consideration available historical data
    and the last projections made by the Company’s Chief Financial Officer prior to the Change of Control. The amount payable
    shall be the present value of the amount so determined by the Committee discounted using a factor that is the Prime Rate as
    established by JP Morgan Chase, N.A. as of the date of the Change of Control.

 

	 	(vi)	Determination
    Final. The Committee’s determination of amounts payable under this Section 8(a) shall be final. Except as otherwise
    provided in Section 8(a)(1), any amounts due under this Section 8(a) shall be paid to Participants within 30 days after such
    Change of Control.
	 	 	 
	 	(vii)	Exclusion.
    The provisions of this Section 8(a) shall not be applicable to any Award granted to a Participant if any Change of Control
    results from such Participant’s beneficial ownership (within the meaning of Rule 13d-3 under the Securities and Exchange
    Act of 1934, as amended (the “Exchange Act”)) of Shares or other Company common stock or Company voting
    securities.

 

(b)
Change of Control Defined. “A Change of Control” shall be deemed to have occurred if:

 

	 	(i)	there
    is an acquisition, in any one transaction or a series of transactions, other than from the Company, by any individual, entity
    or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act), of beneficial ownership (within the meaning
    of Rule 13(d)(3) promulgated under the Exchange Act) of 50% or more of either the then outstanding shares of Common Stock
    or the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election
    of directors, but excluding, for this purpose, any such acquisition by the Company or any of its subsidiaries, or any employee
    benefit plan (or related trust) of the Company or its subsidiaries, or any corporation with respect to which, following such
    acquisition, more than 50% of the then outstanding shares of common stock of such corporation and the combined voting power
    of the then outstanding voting securities of such corporation entitled to vote generally in the election of directors is then
    beneficially owned, directly or indirectly, by the individuals and entities who were the beneficial owners, respectively,
    of the common stock and voting securities of the Company immediately prior to such acquisition in substantially the same proportion
    as their ownership, immediately prior to such acquisition, of the then outstanding shares of Common Stock or the combined
    voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors,
    as the case may be; or
	 	 	 
	 	(ii)	individuals
    who, as of March 1, 2017, constitute the Board (as of such date, the “Incumbent Board”) cease for any reason
    to constitute at least a majority of the Board, provided that any individual becoming a director subsequent to March 1, 2017
    whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority
    of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent
    Board, but excluding, for this purpose, any such individual whose initial assumption of office is in connection with an actual
    or threatened election contest relating to the election of the directors of the Company (as such terms are used in Rule 14(a)(11)
    or Regulation 14A promulgated under the Exchange Act); or
	 	 	 
	 	(iii)	there
    occurs either (A) the consummation of a reorganization, merger or consolidation, in each case, with respect to which the individuals
    and entities who were the respective beneficial owners of the common stock and voting securities of the Company immediately
    prior to such reorganization, merger or consolidation do not, following such reorganization, merger or consolidation, beneficially
    own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock and the combined
    voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case
    may be, of the corporation resulting from such reorganization, merger or consolidation, or (B) an approval by the stockholders
    of the Company of a complete liquidation of dissolution of the Company or of the sale or other disposition of all or substantially
    all of the assets of the Company.

 

    	 

    	 

    

 

(c)
Termination of Certain Awards. In addition, in the event of a Change of 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 the Shares received or
to be received by other shareholders of the Company in the event. In the case of any Option or Other Stock-Based Award with an
exercise price that equals or exceeds the price paid for a Share in connection with the Change of Control, the Committee may cancel
the Option or Other Stock-Based Award without the payment of consideration therefor.

 

Section
9. Amendment and Termination of the Plan.

 

Except
to the extent prohibited by applicable law and unless otherwise expressly provided in an Award Agreement or in the Plan, the Board
of Directors may amend, alter, suspend, discontinue, or terminate the Plan, including without limitation any such action to correct
any defect, supply any omission or reconcile any inconsistency in the Plan, without the consent of any stockholder, Participant,
other holder or beneficiary of an Award, or Person; provided that any such amendment, alteration, suspension, discontinuation,
or termination that would impair the rights of any Participant, or any other holder or beneficiary of any Award heretofore granted
shall not be effective without the approval of the affected Participant(s); and provided further, that, notwithstanding
any other provision of the Plan or any Award Agreement, without the approval of the stockholders of the Company no such amendment,
alteration, suspension, discontinuation or termination shall be made that would increase the total number of Shares available
for Awards under the Plan, except as provided in Section 4 hereof.

 

Section
10. General Provisions

 

(a)
No Rights to Awards. No Employee, Participant or other Person shall have any claim to be granted any Award under the Plan,
and there is no obligation for uniformity of treatment of Employees, Participants, or holders or beneficiaries of Awards under
the Plan. The terms and conditions of Awards need not be the same with respect to each recipient.

 

(b)
Withholding. The Company or any Affiliate shall be authorized to withhold from any Award granted or any payment due or
transfer made under any Award or under the Plan the amount (in cash, Shares, other securities, other Awards, or other property)
of withholding taxes due in respect of an Award, its exercise, or any payment or transfer under such Award or under the Plan and
to take such other action as may be necessary in the opinion of the Company or Affiliate to satisfy all obligations for the payment
of such taxes.

 

(c)
No Limit on Other Compensation Agreements. Nothing contained in the Plan shall prevent the Company or any Affiliate from
adopting or continuing in effect other or additional compensation arrangements and such arrangements may be either generally applicable
or applicable only in specific cases.

 

(d)
No Right to Employment. The grant of an Award shall not be construed as giving a Participant the right to be retained in
the employ of the Company or any Affiliate. Further, the Company or an Affiliate may at any time dismiss a Participant from employment,
free from any liability or any claim under the Plan, unless otherwise expressly provided in the Plan or in any Award Agreement.

 

(e)
Governing Law. The validity, construction, and effect of the Plan and any rules and regulations relating to the Plan shall
be determined in accordance with the laws of the State of New York and applicable Federal law.

 

(f)
Severability. If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal, or unenforceable
in any jurisdiction, or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by
the Committee, such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed
or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such
provision shall be stricken as to such jurisdiction, Person, or Award and the remainder of the Plan and any such Award shall remain
in full force and effect.

 

    	 

    	 

    

 

(g)
No Trust or Fund Created. Neither the Plan nor any Award shall create or be construed to create a trust or separate fund
of any kind or a fiduciary relationship between the Company or any Affiliate and a Participant or any other Person. To the extent
that any Person acquires a right to receive payments from the Company or any Affiliate pursuant to an Award, such right shall
be that of an unsecured general creditor of the Company or any Affiliate.

 

(h)
No Fractional Shares. No fractional Share shall be issued or delivered pursuant to the Plan or any Award, and the Committee
shall determine whether cash, other securities, or other property shall be paid or transferred in lieu of any fractional Shares,
or whether such fractional Shares, or whether such fractional Shares or any rights thereto shall be canceled, terminated, or otherwise
eliminated.

 

(i)
Headings. Headings are given to the sections and subsections of the Plan solely as a convenience to facilitate reference.
Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision
thereof.

 

Section
11. Effective Date of the Plan.

 

The
Plan shall be effective as of the date of its first approval by the stockholders of the Company.

 

Section
12. Term of the Plan.

 

No
Award shall be granted under the Plan after the tenth anniversary of the effective date of the First Amendment to the Plan.. However,
unless otherwise expressly provided in the Plan or in an applicable Award Agreement, any Award theretofore granted may extend
beyond such date, and the authority of the Committee hereunder to amend, alter, adjust, suspend, discontinue, or terminate any
such Award, or to waive any conditions or rights under any such Award, and the authority of the Board of Directors of the Company
to amend the Plan, shall extend beyond such date.

 

Section
13. Participants Subject to Section 162(m).

 

(a)
Applicability. The provisions of this Section 13 shall be applicable to all Covered Awards. Covered Awards shall be made
subject to the achievement of one or more preestablished Performance Goals, in accordance with procedures to be established by
the Committee from time to time. Notwithstanding any provision of the Plan to the contrary, the Committee shall not, other than
upon a Change of Control, have discretion to waive or amend such Performance Goals or to, except as provided in Section 4(c),
increase the number of Shares subject to Covered Awards or the amount payable pursuant to Covered Awards after the Performance
Goals have been established; provided, however, that the Committee may, in its sole discretion, reduce the number of Shares subject
to Covered Awards or the amount which would otherwise be payable pursuant to Covered Awards; and provided, further, that the provisions
of Section 8 shall override any contrary provision of this Section 13.

 

(b)
Certification. No shares shall be delivered and no payment shall be made pursuant to a Covered Award unless and until the
Committee shall have certified in writing that the applicable Performance Goals have been attained.

 

(c)
Procedures. The Committee may from time to time establish procedures pursuant to which Covered Employees will be permitted
or required to defer receipt of amounts payable under Awards made under the Plan.

 

(d)
Committee. Notwithstanding any other provision of the Plan, for all purposes involving Covered Awards, the Committee shall
consist of at least two members of the Board of Directors, each of whom is an “outside director” within the
meaning of Section 162(m).

 

Section
14. Code §409A Compliance.

 

To
the extent any Award hereunder provides for a deferral of compensation (within the meaning of Code §409A and related regulations),
the material terms of the deferral, to the extent required under Treasury Regulation §1.409A-1(c)(3) to establish a deferred
compensation plan, shall be set forth in the written Award documentation (including by incorporation by reference, if applicable)
prior to the effective date of such Award. Such provisions may include a requirement that if any payment or acceleration of a
payment is made upon a change of control, the definition of change of control for purposes of such award also complies with the
requirements of Treasury Regulation §1.409A-3(i)(5).

 

In
addition, whenever it is provided in this Plan or in any Award made hereunder that a payment or delivery is to be made “promptly”
after a given event, such payment or delivery shall be made within 10 days of the event and the recipient shall have no right
to designate the taxable year of payment or delivery.

 

Effective
as of June 13, 2017. First amendment as of June 30, 2020.

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