Document:

HANCOCK
JAFFE LABORATORIES, INC.

 

2016
OMNIBUS INCENTIVE PLAN

 

Hancock
Jaffe Laboratories, Inc. sets forth herein the terms of its 2016 Omnibus Incentive Plan, as follows:

 

1.
PURPOSE

 

The
Plan is intended to enhance the ability of the Company and its Affiliates to attract and retain highly qualified officers, Non-employee
Directors, employees, consultants and advisors, and to motivate such individuals to serve the Company and its Affiliates and to
expend maximum effort to improve the business results and earnings of the Company, by providing to such persons an opportunity
to acquire or increase a direct proprietary interest in the operations and future success of the Company. To this end, the Plan
provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, unrestricted stock,
other share-based awards and cash awards. Any of these awards may, but need not, be made as performance incentives to reward attainment
of performance goals in accordance with the terms hereof. Stock options granted under the Plan may be non-qualified stock options
or incentive stock options, as provided herein.

 

2.
DEFINITIONS

 

For
purposes of interpreting the Plan and related documents (including Award Agreements), the following definitions shall apply:

 

2.1.
“Acquiror” shall have the meaning set forth in Section 15.2.1.

 

2.2.
“Affiliate” means any company or other trade or business that “controls,”
is “controlled by” or is “under common control with” the Company within the meaning of Rule 405 of Regulation
C under the Securities Act, including any Subsidiary.

 

2.3.
“Award” means a grant under the Plan of an Option, SAR, Restricted Stock, RSU, Other
Share-based Award or cash award.

 

2.4.
“Award Agreement” means a written agreement between the Company and a Grantee, or
notice from the Company or an Affiliate to a Grantee that evidences and sets out the terms and conditions of an Award.

 

2.5.
“Board” means the Board of Directors of the Company.

 

2.6.
“Business Combination” shall have the meaning set forth in Section 15.2.2.

 

2.7.
“Cause” shall be defined as that term is defined in the Grantee’s offer letter
or other applicable employment agreement; or, if there is no such definition, “Cause” means, unless otherwise provided
in the applicable Award Agreement: (i) the commission of any act by a Grantee constituting financial dishonesty against the Company
or its Affiliates (which act would be chargeable as a crime under applicable law); (ii) a Grantee’s engaging in any other
act of dishonesty, fraud, intentional misrepresentation, moral turpitude, illegality or harassment that would: (a) materially
adversely affect the business or the reputation of the Company or any of its Affiliates with their respective current or prospective
customers, suppliers, lenders or other third parties with whom such entity does or might do business or (b) expose the Company
or any of its Affiliates to a risk of civil or criminal legal damages, liabilities or penalties; (iii) the repeated failure by
a Grantee to follow the directives of the chief executive officer of the Company or any of its Affiliates or the Board; or (iv)
any material misconduct, violation of the Company’s or Affiliates’ policies, or willful and deliberate non-performance
of duty by the Grantee in connection with the business affairs of the Company or its Affiliates.

 

    	 

    	 

    

 

2.8.
“Change in Control” shall have the meaning set forth in Section 15.2.2.

 

2.9.
“Code” means the Internal Revenue Code of 1986.

 

2.10.
“Committee” means the Compensation Committee of the Board, or such other committee
as determined by the Board. The Compensation Committee of the Board may designate a subcommittee of its members to serve as the
Committee (to the extent the Board has not designated another person, committee or entity as the Committee). Following the Initial
Public Offering: (i) the Board shall cause the Committee to satisfy the applicable requirements of any securities exchange on
which the Common Stock may then be listed; (ii) for purposes of Awards to Covered Employees intended to constitute Performance
Awards, to the extent required by Section 162(m), Committee means all of the members of the Compensation Committee who are “outside
directors” within the meaning of Section 162(m); and (iii) for purposes of Awards to Grantees who are subject to Section
16 of the Exchange Act, Committee means all of the members of the Compensation Committee who are “non-employee directors”
within the meaning of Rule 16b-3 adopted under the Exchange Act.

 

2.11.
“Company” means Hancock Jaffe Laboratories, Inc., a Delaware corporation.

 

2.12.
“Common Stock” means the common stock of the Company.

 

2.13.
“Consultant” means a consultant or advisor that provides bona fide services to the
Company or any Affiliate and who qualifies as a consultant or advisor under Rule 701 of the Securities Act (during any period
in which the Company is not a public company subject to the reporting requirements of the Exchange Act) or Form S-8 (during any
period in which the Company is a public company subject to the reporting requirements of the Exchange Act).

 

2.14.
“Covered Employee” means a Grantee who is a “covered employee” within
the meaning of Section 162(m) as qualified by Section 12.4.

 

2.15.
“Disability” shall be defined as that term is defined in the Grantee’s offer
letter or other applicable employment agreement; or, if there is no such definition, “Disability” means, unless otherwise
provided in the applicable Award Agreement, the Grantee is unable to perform each of the essential duties of such Grantee’s
position by reason of a medically determinable physical or mental impairment which is potentially permanent in character or which
can be expected to last for a continuous period of not less than 12 months; provided, however, that, with respect
to rules regarding expiration of an Incentive Stock Option following termination of the Grantee’s Service, “Disability”
means “permanent and total disability” as set forth in Code Section 22(e)(3).

 

2.16.
“Effective Date” means [Date], the date the Plan was approved by the Stockholders.

 

2.17.
“Exchange Act” means the Securities Exchange Act of 1934.

 

2.18.
“Fair Market Value” of a Share as of a particular date means (i) if the Common Stock
is listed on a national securities exchange, the closing or last price of the Common Stock on the composite tape or other comparable
reporting system for the applicable date, or if the applicable date is not a trading day, the trading day immediately preceding
the applicable date, or (ii) if the Common Stock is not then listed on a national securities exchange, or the value of the Common
Stock is not otherwise determinable, such value as determined by the Board.

 

    	 	2	 

    	 

    

 

2.19.
“Family Member” means a person who is a spouse, former spouse, child, stepchild,
grandchild, parent, stepparent, grandparent, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother,
sister, brother-in-law or sister-in-law, including adoptive relationships, of the applicable individual, any person sharing the
applicable individual’s household (other than a tenant or employee), a trust in which any one or more of these persons have
more than 50% of the beneficial interest, a foundation in which any one or more of these persons (or the applicable individual)
control the management of assets and any other entity in which one or more of these persons (or the applicable individual) own
more than 50% of the voting interests.

 

2.20.
“Grant Date” means the latest to occur of (i) the date as of which the Board approves
an Award, (ii) the date on which the recipient of an Award first becomes eligible to receive an Award under Section 6 or
(iii) such other date as may be specified by the Board in the Award Agreement.

 

2.21.
“Grantee” means a person who receives or holds an Award.

 

2.22.
“Holder” means, with respect to any Issued Shares, the person holding such Issued
Shares, including the initial Grantee or any Permitted Transferee.

 

2.23.
“Incentive Stock Option” means an “incentive stock option” within the
meaning of Code Section 422.

 

2.24.
“Incumbent Directors” shall have the meaning set forth in Section 15.2.2.

 

2.25.
“Initial Public Offering” means the initial public offering of Shares pursuant to
a registration statement (other than a Form S-8 or successor forms) filed with, and declared effective by, the SEC.

 

2.26.
“Issued Shares” means, collectively, all outstanding Shares issued pursuant to Awards
(including outstanding Shares of Restricted Stock prior to or after vesting and Shares issued in connection with the exercise
of an Option or SAR).

 

2.27.
“New Shares” shall have the meaning set forth in Section 15.1.

 

2.28.
“Non-employee Director” means a member of the Board or the board of directors of
an Affiliate, in each case who is not an officer or employee of the Company or any Affiliate.

 

2.29.
“Non-qualified Stock Option” means an Option that is not an Incentive Stock Option.

 

2.30.
“Offered Shares” shall have the meaning set forth in Section 17.4.1.

 

2.31.
“Offering” shall have the meaning set forth in Section 17.5.

 

2.32.
“Option” means an option to purchase one or more Shares pursuant to the Plan.

 

2.33.
“Option Price” means the exercise price for each Share subject to an Option.

 

2.34.
“Other Share-based Awards” means Awards consisting of Share units, or other Awards,
valued in whole or in part by reference to, or otherwise based on, Shares.

 

2.35.
“Performance Award” means an Award made subject to the attainment of performance
goals (as described in Section 12) over a performance period of at least one year.

 

2.36.
“Permitted Transferee” means any of the following to whom a Holder may transfer
Issued Shares hereunder (as set forth in Section 17.11.3): the Holder’s spouse,
children (natural or adopted), stepchildren or a trust for their sole benefit of which the Holder is the settlor; provided,
however, that any such trust does not require or permit distribution of any Issued Shares during the term of the Plan unless
subject to its terms. Upon the death of the Holder, the term Permitted Transferees shall also include such deceased Holder’s
estate, executors, administrators, personal representatives, heirs, legatees and distributees, as the case may be.

 

    	 	3	 

    	 

    

 

2.37.
“Plan” means this Hancock Jaffe Laboratories, Inc. 2016 Omnibus Incentive Plan.

 

2.38.
“Purchase Price” means the purchase price for each Share pursuant to a grant of
Restricted Stock.

 

2.39.
“Restricted Period” shall have the meaning set forth in Section 10.1.

 

2.40.
“Restricted Stock” means restricted Shares, awarded to a Grantee pursuant to
Section 10.

 

2.41.
“Restricted Stock Unit” or “RSU” means
a bookkeeping entry representing the equivalent of Shares, awarded to a Grantee pursuant to Section 10.

 

2.42.
“SAR Exercise Price” means the per Share exercise price of a SAR granted to a Grantee
under Section 9.

 

2.43.
“SEC” means the United States Securities and Exchange Commission.

 

2.44.
“Section 162(m)” means Code Section 162(m).

 

2.45.
“Section 409A” means Code Section 409A.

 

2.46.
“Securities Act” means the Securities Act of 1933.

 

2.47.
“Separation from Service” means the termination of a Service Provider’s Service,
whether initiated by the Service Provider or the Company or an Affiliate; provided, however, that if any Award governed
by Section 409A is to be distributed on a Separation from Service, then the definition of Separation from Service for such purposes
shall comply with the definition provided in Section 409A.

 

2.48.
“Service” means service as a Service Provider to the Company or an Affiliate. Unless
otherwise provided in the applicable Award Agreement, a Grantee’s change in position or duties shall not result in interrupted
or terminated Service, so long as such Grantee continues to be a Service Provider to the Company or an Affiliate.

 

2.49.
“Service Provider” means an employee, officer, non-employee member of the Board
or Consultant of the Company or an Affiliate.

 

2.50.
“Share” means a share of Common Stock.

 

2.51.
“Stock Appreciation Right” or “SAR” means
a right granted to a Grantee pursuant to Section 9.

 

2.52.
“Stockholders” means the stockholders of the Company.

 

2.53.
“Subsidiary” means any “subsidiary corporation” of the Company within
the meaning of Code Section 424(f).

 

2.54.
“Substitute Award” means any Award granted in assumption of or in substitution for
an award of a company or business acquired by the Company or an Affiliate or with which the Company or an Affiliate combines.

 

    	 	4	 

    	 

    

 

2.55.
“Ten Percent Stockholder” means an individual who owns more than 10% of the total
combined voting power of all classes of outstanding stock of the Company, its parent or any of its Subsidiaries. In determining
stock ownership, the attribution rules of Code Section 424(d) shall be applied.

 

2.56.
“Termination Date” means the date that is 10 years after the Effective Date, unless
the Plan is earlier terminated by the Board under Section 5.2.

 

2.57.
“Transition Period” means the period beginning with the consummation of an Initial
Public Offering and ending as of the earlier of (i) the date of the first annual meeting of Stockholders at which directors are
to be elected that occurs after the close of the third calendar year following the calendar year in which the Initial Public Offering
occurs and (ii) the expiration of the “reliance period” under Treasury Regulation Section 1.162-27(f)(2).

 

2.58.
“Voting Securities” shall have the meaning set forth in Section 15.2.2.

 

3.
ADMINISTRATION OF THE PLAN

 

3.1 General.The
Board shall have such powers and authorities related to the administration of the Plan as are consistent with the Company’s
certificate of incorporation and bylaws and applicable law. The Board shall have the power and authority to delegate its responsibilities
hereunder to the Committee, which shall have full authority to act in accordance with its charter (as in effect from time to time),
and with respect to the power and authority of the Board to act hereunder, all references to the Board shall be deemed to include
a reference to the Committee, unless such power or authority is specifically reserved by the Board. Except as specifically provided
in Section 14 or as otherwise may be required by applicable law, regulatory requirement or the certificate of incorporation
or the bylaws of the Company, the Board shall have full power and authority to take all actions and to make all determinations
required or provided for under the Plan, any Award or any Award Agreement, and shall have full power and authority to take all
such other actions and make all such other determinations not inconsistent with the specific terms and provisions of the Plan
that the Board deems to be necessary or appropriate to the administration of the Plan. Following the Initial Public Offering,
the Committee shall administer the Plan; provided, however, the Board shall retain the right to exercise the authority
of the Committee to the extent consistent with applicable law and the applicable requirements of any securities exchange on which
the Common Stock may then be listed. All actions, determinations and decisions by the Board or the Committee under the Plan or
any Award Agreement, or with respect to any Award, shall be in the sole discretion of the Board and shall be final, binding and
conclusive on all persons. Without limitation, the Board shall have full and final power and authority, subject to the other terms
and conditions of the Plan, to:

 

(i)
designate Grantees;

 

(ii)
determine the type or types of Awards to be made to Grantees;

 

(iii)
determine the number of Shares to be subject to an Award;

 

(iv)
establish the terms and conditions of each Award (including the Option Price of any Option, the nature and duration of any
restriction or condition (or provision for lapse thereof) relating to the vesting, exercise, transfer, or forfeiture of an
Award or the Shares subject thereto and any terms or conditions that may be necessary to qualify Options as Incentive Stock
Options);

 

(v)
prescribe the form of each Award Agreement; and

 

(vi)
amend, modify or supplement the terms of any outstanding Award, including the authority, in order to effectuate the purposes
of the Plan, to modify Awards to foreign nationals or individuals who are employed outside the United States to recognize
differences in local law, tax policy or custom.

 

    	 	5	 

    	 

    

 

3.2.
Award Agreements; Clawbacks.

 

The
grant of any Award may be contingent upon the Grantee executing the appropriate Award Agreement. The Company may retain the right
in an Award Agreement to cause a forfeiture of the gain realized by a Grantee on account of actions taken by the Grantee in violation
or breach of or in conflict with any employment agreement, non-competition agreement, any agreement prohibiting solicitation of
employees or clients of the Company or any Affiliate thereof or any confidentiality obligation with respect to the Company or
any Affiliate thereof, or otherwise in competition with the Company or any Affiliate thereof, to the extent specified in such
Award Agreement applicable to the Grantee. Furthermore, the Company may annul an Award if the Grantee is terminated for Cause.

 

All
awards, amounts or benefits received or outstanding under the Plan shall be subject to clawback, cancellation, recoupment, rescission,
payback, reduction or other similar action in accordance with the terms of any Company clawback or similar policy or any applicable
law related to such actions, as may be in effect from time to time. A Grantee’s acceptance of an Award shall be deemed to
constitute the Grantee’s acknowledgement of and consent to the Company’s application, implementation and enforcement
of any applicable Company clawback or similar policy that may apply to the Grantee, whether adopted prior to or following the
Effective Date, and any provision of applicable law relating to clawback, cancellation, recoupment, rescission, payback or reduction
of compensation, and the Grantee’s agreement that the Company may take such actions as may be necessary to effectuate any
such policy or applicable law, without further consideration or action.

 

3.3.
Deferral Arrangement.

 

The
Board may permit or require the deferral of any Award payment into a deferred compensation arrangement, subject to such rules
and procedures as it may establish and in accordance with Section 409A, which may include provisions for the payment or crediting
of interest or dividend equivalents, including converting such credits into deferred Share units.

 

3.4.
No Liability.

 

No
member of the Board or of the Committee shall be liable for any action or determination made in good faith with respect to the
Plan, any Award or Award Agreement.

 

3.5.
Book Entry.

 

Notwithstanding
any other provision of the Plan to the contrary, the Company may elect to satisfy any requirement under the Plan for the delivery
of stock certificates through the use of book entry.

 

3.6.
Director Awards.

 

The
maximum value of Awards granted during any calendar year to any Non-employee Director, taken together with any cash fees paid
to such Non-employee Director during the calendar year and the value of awards granted to the Non-employee Director under any
other equity compensation plan of the Company or an Affiliate during the calendar year, shall not exceed the following in total
value (calculating the value of any Awards or other equity compensation plan awards based on the grant date fair value for financial
reporting purposes): (i) $500,000 for the Chair of the Board and (ii) $250,000 for each Non-employee Director other than the Chair
of the Board; provided, however, that awards granted to Non-employee Directors upon their initial election to the
Board or the board of directors of an Affiliate shall not be counted towards the limit under this Section 3.6. Any Awards or other
equity compensation plan awards that are scheduled to vest over a period of more than one calendar year shall be applied pro rata
(based on grant date fair value as provided above) for purposes of the limit under this Section 3.6 based on the number of years
over which such awards are scheduled to vest.

 

    	 	6	 

    	 

    

 

4.
STOCK SUBJECT TO THE PLAN

 

4.1.
Authorized Number of Shares.

 

Subject
to adjustment under Section 15, the aggregate number of Shares that may be initially issued pursuant to the Plan is 3,300,000.
The total number of Shares described in the preceding sentence shall be available for issuance under Incentive Stock Options.
Shares issued under the Plan may consist in whole or in part of authorized but unissued Shares, treasury Shares or Shares purchased
on the open market or otherwise. No later than the end of the Transition Period, the maximum number of Shares for each type of
Other Share-based Award, and the maximum amount of cash for any cash-based Award, intended to qualify as “performance-based
compensation” under Section 162(m) granted to any Grantee in any specified period shall be established by the Company and
approved by the Stockholders.

 

4.2.
Share Counting.

 

Any
Award settled in cash shall not be counted as issued Shares for any purpose under the Plan. If any Award expires, or is terminated,
surrendered or forfeited, in whole or in part, the unissued Shares covered by such Award shall again be available for the grant
of Awards. If Shares issued pursuant to the Plan are repurchased by, or are surrendered or forfeited to the Company at no more
than cost, such Shares shall again be available for the grant of Awards. If Shares issuable upon exercise, vesting or settlement
of an Award, or Shares owned by a Grantee (which are not subject to any pledge or other security interest), are surrendered or
tendered to the Company in payment of the Option Price or Purchase Price of an Award or any taxes required to be withheld in respect
of an Award, in each case, in accordance with the terms and conditions of the Plan and any applicable Award Agreement, such surrendered
or tendered Shares shall again be available for the grant of Awards. Substitute Awards shall not be counted against the number
of Shares available for the grant of Awards.

 

5.
EFFECTIVE DATE, DURATION AND AMENDMENTS

 

5.1.
Term.

 

The
Plan shall be effective as of the Effective Date, provided that it has been approved by the Stockholders. The Plan shall
terminate automatically on the 10-year anniversary of the Effective Date and may be terminated on any earlier date as provided
in Section 5.2.

 

5.2.
Amendment and Termination of the Plan.

 

The
Board may, at any time and from time to time, amend, suspend or terminate the Plan as to any Awards which have not been made.
An amendment shall be contingent on approval of the Stockholders to the extent stated by the Board, required by applicable law
or required by applicable securities exchange listing requirements. No Awards shall be made after the Termination Date. The applicable
terms of the Plan, and any terms and conditions applicable to Awards granted prior to the Termination Date, shall survive the
termination of the Plan and continue to apply to such Awards. No amendment, suspension or termination of the Plan shall, without
the consent of the Grantee, materially impair rights or obligations under any Award theretofore awarded.

 

    	 	7	 

    	 

    

 

6.
AWARD ELIGIBILITY AND LIMITATIONS

 

6.1.
Service Providers.

 

Subject
to this Section 6, Awards may be made to any Service Provider as the Board may determine and designate from time to time.

 

6.2.
Successive Awards.

 

An
eligible person may receive more than one Award, subject to such restrictions as are provided herein.

 

6.3.
Stand-Alone, Additional, Tandem, and Substitute Awards.

 

Awards
may be granted either alone or in addition to, in tandem with, or in substitution or exchange for, any other Award or any award
granted under another plan of the Company, any Affiliate or any business entity to be acquired by the Company or an Affiliate,
or any other right of a Grantee to receive payment from the Company or any Affiliate. Such additional, tandem or substitute or
exchange Awards may be granted at any time. If an Award is granted in substitution or exchange for another award, the Board shall
have the right to require the surrender of such other award in consideration for the grant of the new Award. Subject to the requirements
of applicable law, the Board may make Awards in substitution or exchange for any other award under another plan of the Company,
any Affiliate or any business entity to be acquired by the Company or an Affiliate. In addition, Awards may be granted in lieu
of cash compensation, including in lieu of cash amounts payable under other plans of the Company or any Affiliate, in which the
value of Shares subject to the Award is equivalent in value to the cash compensation (for example, RSUs or Restricted Stock).

 

7.
AWARD AGREEMENT

 

The
grant of any Award may be contingent upon the Grantee executing an appropriate Award Agreement, in such form or forms as the Board
shall from time to time determine. Without limiting the foregoing, an Award Agreement may be provided in the form of a notice
which provides that acceptance of the Award constitutes acceptance of all terms of the Plan and the notice. Award Agreements granted
from time to time or at the same time need not contain similar provisions but shall be consistent with the terms of the Plan.
Each Award Agreement evidencing an Award of Options shall specify whether such Options are intended to be Non-qualified Stock
Options or Incentive Stock Options, and in the absence of such specification such options shall be deemed Non-qualified Stock
Options.

 

8.
TERMS AND CONDITIONS OF OPTIONS

 

8.1.
Option Price.

 

The
Option Price of each Option shall be fixed by the Board and stated in the related Award Agreement. The Option Price of each Option
intended to be an Incentive Stock Option (except those that constitute Substitute Awards) shall be at least the Fair Market Value
on the Grant Date; provided, however, that in the event that a Grantee is a Ten Percent Stockholder as of the Grant
Date, the Option Price of an Option granted to such Grantee that is intended to be an Incentive Stock Option shall be not less
than 110 percent of the Fair Market Value on the Grant Date. In no case shall the Option Price of any Option be less than the
par value of a Share.

 

8.2.
Vesting.

 

Subject
to Section 8.3, each Option shall become exercisable at such times and under such conditions (including performance requirements)
as stated in the Award Agreement.

 

    	 	8	 

    	 

    

 

8.3.
Term.

 

Each
Option shall terminate, and all rights to purchase Shares thereunder shall cease, upon the expiration of the Option term stated
in the Award Agreement not to exceed 10 years from the Grant Date, or under such circumstances and on such date prior thereto
as is set forth in the Plan or as may be fixed by the Board and stated in the related Award Agreement; provided, however,
that in the event that the Grantee is a Ten Percent Stockholder, an Option granted to such Grantee that is intended to be an Incentive
Stock Option at the Grant Date shall not be exercisable after the expiration of five years from its Grant Date.

 

8.4.
Limitations on Exercise of Option.

 

Notwithstanding
any other provision of the Plan, in no event may any Option be exercised, in whole or in part, (i) prior to the date the Plan
is approved by the Stockholders as provided herein or (ii) after the occurrence of an event which results in termination of the
Option.

 

8.5.
Method of Exercise.

 

An
Option that is exercisable may be exercised by the Grantee’s delivery of a notice of exercise to the Company, setting forth
the number of Shares with respect to which the Option is to be exercised, accompanied by full payment for the Shares. To be effective,
notice of exercise must be made in accordance with procedures established by the Company from time to time.

 

8.6.
Rights of Holders of Options.

 

Unless
otherwise provided in the applicable Award Agreement, an individual holding or exercising an Option shall have none of the rights
of a Stockholder (for example, the right to receive cash or dividend payments or distributions attributable to the subject Shares
or to direct the voting of the subject Shares) until the Shares covered thereby are fully paid and issued to him. Except as provided
in Section 15 or the related Award Agreement, no adjustment shall be made for dividends, distributions or other rights
for which the record date is prior to the date of such issuance.

 

8.7.
Delivery of Stock Certificates.

 

Promptly
after the exercise of an Option by a Grantee and the payment in full of the Option Price, such Grantee shall be entitled to the
issuance of a stock certificate or certificates evidencing his or her ownership of the Shares subject to the Option.

 

8.8.
Limitations on Incentive Stock Options.

 

An
Option shall constitute an Incentive Stock Option only (i) if the Grantee of such Option is an employee of the Company or any
Subsidiary of the Company; (ii) to the extent specifically provided in the related Award Agreement; and (iii) to the extent that
the aggregate Fair Market Value (determined at the time the Option is granted) of the Shares with respect to which all Incentive
Stock Options held by such Grantee become exercisable for the first time during any calendar year (under the Plan and all other
plans of the Grantee’s employer and its Affiliates) does not exceed $100,000. This limitation shall be applied by taking
Options into account in the order in which they were granted.

 

8.9.
Early Exercise.

 

An
Option may, but need not, include a provision whereby the Grantee may elect at any time before the Grantee’s Separation
from Service to exercise the Option as to any part or all of the Shares subject to the Option prior to the full vesting of the
Option. Any unvested Shares so purchased may be subject to a repurchase option in favor of the Company or to any other restriction
the Board determines to be appropriate.

 

    	 	9	 

    	 

    

 

9.
TERMS AND CONDITIONS OF STOCK APPRECIATION RIGHTS

 

9.1.
Right to Payment.

 

A
SAR shall confer on the Grantee a right to receive, upon exercise thereof, the excess of (i) the Fair Market Value on the date
of exercise over (ii) the SAR Exercise Price. The Award Agreement for a SAR shall specify the SAR Exercise Price. SARs may be
granted alone or in conjunction with all or part of an Option or at any subsequent time during the term of such Option or in conjunction
with all or part of any other Award.

 

9.2.
Other Terms.

 

The
Board shall determine at the Grant Date or thereafter, the time or times at which and the circumstances under which a SAR may
be exercised in whole or in part (including based on achievement of performance goals and/or future service requirements), the
time or times at which SARs shall cease to be or become exercisable following Separation from Service or upon other conditions,
the method of exercise, whether or not a SAR shall be in tandem or in combination with any other Award and any other terms and
conditions of any SAR.

 

9.3.
Term of SARs.

 

The
term of a SAR granted under the Plan shall be determined by the Board; provided, however, that such term shall not
exceed 10 years.

 

9.4.
Payment of SAR Amount.

 

Upon
exercise of a SAR, a Grantee shall be entitled to receive payment from the Company (in cash or Shares, as set forth in the Award
Agreement) in an amount determined by multiplying:

 

(i)
the difference between the Fair Market Value on the date of exercise over the SAR Exercise Price; by

 

(ii)
the number of Shares with respect to which the SAR is exercised.

 

10.
TERMS AND CONDITIONS OF RESTRICTED STOCK AND RESTRICTED STOCK UNITS

 

10.1.
Restrictions.

 

At
the time of grant, the Board may establish a period of time (a “Restricted Period”) and any additional restrictions
including the satisfaction of corporate or individual performance objectives applicable to an Award of Restricted Stock or RSUs.
Each Award of Restricted Stock or RSUs may be subject to a different Restricted Period and additional restrictions. Neither Restricted
Stock nor RSUs may be sold, transferred, assigned, pledged or otherwise encumbered or disposed of during the Restricted Period
or prior to the satisfaction of any other applicable restrictions.

 

10.2.
Restricted Stock Certificates.

 

The
Company shall issue Shares, in the name of each Grantee to whom Restricted Stock has been granted, stock certificates or other
evidence of ownership representing the total number of Shares of Restricted Stock granted to the Grantee, as soon as reasonably
practicable after the Grant Date. The Board may provide in an Award Agreement that either (i) the Secretary of the Company shall
hold such certificates for the Grantee’s benefit until such time as the Restricted Stock is forfeited to the Company or
the restrictions lapse or (ii) such certificates shall be delivered to the Grantee; provided, however, that such
certificates shall bear a legend or legends that comply with the applicable securities laws and regulations and make appropriate
reference to the restrictions imposed under the Plan and the Award Agreement.

 

    	 	10	 

    	 

    

 

10.3.
Rights of Holders of Restricted Stock.

 

Unless
otherwise provided in the applicable Award Agreement, holders of Restricted Stock shall have rights as Stockholders, including
voting and dividend rights.

 

10.4.
Rights of Holders of RSUs.

 

10.4.1.
Settlement of RSUs.

 

RSUs
may be settled in cash or Shares, as set forth in the Award Agreement. The Award Agreement shall also set forth whether the RSUs
shall be settled (i) within the time period specified in Section 17.9 for short term deferrals or (ii) otherwise within
the requirements of Section 409A, in which case the Award Agreement shall specify upon which events such RSUs shall be settled.

 

10.4.2.
Voting and Dividend Rights.

 

Unless
otherwise provided in the applicable Award Agreement, holders of RSUs shall not have rights as Stockholders, including voting
or dividend or dividend equivalents rights.

 

10.4.3.
Creditor’s Rights.

 

A
holder of RSUs shall have no rights other than those of a general creditor of the Company. RSUs represent an unfunded and unsecured
obligation of the Company, subject to the terms and conditions of the applicable Award Agreement.

 

10.5.
Purchase of Restricted Stock.

 

The
Grantee shall be required, to the extent required by applicable law, to purchase the Restricted Stock from the Company at a Purchase
Price equal to the greater of (i) the aggregate par value of the Shares represented by such Restricted Stock or (ii) the Purchase
Price, if any, specified in the related Award Agreement. If specified in the Award Agreement, the Purchase Price may be deemed
paid by Services already rendered. The Purchase Price shall be payable in a form described in Section 11 or, if so determined
by the Board, in consideration for past Services rendered.

 

10.6.
Delivery of Shares.

 

Upon
the expiration or termination of any Restricted Period and the satisfaction of any other conditions prescribed by the Board, the
restrictions applicable to Shares of Restricted Stock or RSUs settled in Shares shall lapse, and, unless otherwise provided in
the applicable Award Agreement, a stock certificate for such Shares shall be delivered, free of all such restrictions, to the
Grantee or the Grantee’s beneficiary or estate, as the case may be.

 

    	 	11	 

    	 

    

 

11.
FORM OF PAYMENT FOR OPTIONS AND RESTRICTED STOCK

 

11.1.
General Rule.

 

Payment
of the Option Price for the Shares purchased pursuant to the exercise of an Option or the Purchase Price for Restricted Stock
shall be made in cash or in cash equivalents acceptable to the Company, except as provided in this Section 11.

 

11.2.
Surrender of Shares.

 

To
the extent the Award Agreement so provides, payment of the Option Price for Shares purchased pursuant to the exercise of an Option
or the Purchase Price for Restricted Stock may be made all or in part through the tender to the Company of Shares, which Shares
shall be valued, for purposes of determining the extent to which the Option Price or Purchase Price for Restricted Stock has been
paid thereby, at their Fair Market Value on the date of exercise or surrender. Notwithstanding the foregoing, in the case of an
Incentive Stock Option, the right to make payment in the form of already-owned Shares may be authorized only at the time of grant.

 

11.3.
Cashless Exercise.

 

With
respect to an Option only (and not with respect to Restricted Stock) following the Initial Public Offering, to the extent permitted
by law and to the extent the Award Agreement so provides, payment of the Option Price may be made all or in part by delivery (on
a form acceptable to the Company) of an irrevocable direction to a licensed securities broker acceptable to the Company to sell
Shares and to deliver all or part of the sales proceeds to the Company in payment of the Option Price and any withholding taxes
described in Section 17.3.

 

11.4.
Other Forms of Payment.

 

To
the extent the Award Agreement so provides, payment of the Option Price or the Purchase Price for Restricted Stock may be made
in any other form that is consistent with applicable laws, regulations and rules, including the Company’s withholding of
Shares otherwise due to the exercising Grantee.

 

 12. TERMS AND CONDITIONS OF PERFORMANCE AWARDS

 

12.1.
Performance Conditions.

 

The
right of a Grantee to exercise or receive a grant or settlement of any Award, and the timing thereof, may be subject to such performance
conditions as may be specified by the Board. The Board may use such business criteria and other measures of performance as it
may deem appropriate in establishing any performance conditions, and may reduce the amounts payable under any Award subject to
performance conditions, except as limited under Section 12.2 in the case of a Performance Award intended to qualify under
Section 162(m).

 

12.2.
Performance Awards Granted to Designated Covered Employees.

 

If
and to the extent that the Board determines that a Performance Award to be granted to a Grantee who is designated by the Board
as likely to be a Covered Employee should qualify as “performance-based compensation” for purposes of Section 162(m),
the grant, exercise and/or settlement of such Performance Award shall be contingent upon achievement of pre-established performance
goals and other terms set forth in this Section 12.2. Notwithstanding anything herein to the contrary, the Board may provide
for Performance Awards to Covered Employees that are not intended qualify as “performance-based compensation” for
purposes of Section 162(m).

 

    	 	12	 

    	 

    

 

12.2.1.
Performance Goals Generally.

 

The
performance goals for Performance Awards shall consist of one or more business criteria and a targeted level or levels of performance
with respect to each of such criteria, as specified by the Board consistent with this Section 12.2. Following the end of
the Transition Period, performance goals shall be objective and shall otherwise meet the requirements of Section 162(m), including
the requirement that the level or levels of performance targeted by the Board result in the achievement of performance goals being
“substantially uncertain.” The Board may determine that Performance Awards shall be granted, exercised and/or settled
upon achievement of any one performance goal or that two or more of the performance goals must be achieved as a condition to grant,
exercise and/or settlement of the Performance Awards. Performance goals may be established on a Company-wide basis, or with respect
to one or more business units, divisions, Affiliates or business segments, as applicable. Performance goals may be absolute or
relative (to the performance of one or more comparable companies or indices). Measurement of performance goals may exclude the
impact of charges for restructuring, discontinued operations and other extraordinary, unusual or non-recurring items, and the
cumulative effects of tax or accounting changes (each as defined by generally accepted accounting principles and as identified
in the Company’s financial statements or other SEC filings). Performance goals may differ for Performance Awards granted
to any one Grantee or to different Grantees.

 

12.2.2.
Business Criteria.

 

One
or more of the following business criteria for the Company, on a consolidated basis, and/or specified Affiliates or business units
of the Company (except with respect to the total stockholder return and earnings per share criteria), shall be used exclusively
by the Board in establishing performance goals for Performance Awards: (i) cash flow; (ii) earnings per share, as adjusted for
any stock split, stock dividend or other recapitalization; (iii) earnings measures; (iv) return on equity; (v) total stockholder
return; (vi) share price performance, as adjusted for any stock split, stock dividend or other recapitalization; (vii) return
on capital; (viii) revenue; (ix) income; (x) profit margin; (xi) return on operating revenue; (xii) brand recognition or acceptance;
(xiii) customer satisfaction; (xiv) productivity; (xv) expense targets; (xvi) market share; (xvii) cost control measures; (xviii)
balance sheet metrics; (xix) strategic initiatives; (xx) implementation, completion or attainment of measurable objectives with
respect to recruitment or retention of personnel or employee satisfaction; or (xxi) any other business criteria established by
the Board; provided, however, that such business criteria shall include any derivations of business criteria listed
above (e.g., income shall include pre-tax income, net income and operating income).

 

12.2.3.
Timing for Establishing Performance Goals.

 

Following
the Transition Period, performance goals shall be established not later than 90 days after the beginning of any performance period
applicable to Performance Awards, or at such other date as may be required or permitted for “performance-based compensation”
under Section 162(m).

 

12.2.4.
Settlement of Performance Awards; Other Terms.

 

Settlement
of Performance Awards may be in cash, Shares, other Awards or other property. The Board may reduce the amount of a settlement
otherwise to be made in connection with such Performance Awards.

 

    	 	13	 

    	 

    

 

12.3.
Written Determinations.

 

All
determinations by the Board as to the establishment of performance goals, the amount of any Performance Award pool or potential
individual Performance Awards and the achievement of performance goals relating to Performance Awards, shall be made in writing
in the case of any Award intended to qualify as “performance-based compensation” under Section 162(m) to the extent
required by Section 162(m). To the extent permitted by Section 162(m), the Board may delegate any responsibility relating to Performance
Awards.

 

12.4.
Status of Section 12.2 Awards under Section 162(m).

 

The
provisions of this Section 12.4 are applicable following the Transition Period. It is the intent of the Company that Performance
Awards under Section 12.2 granted to persons who are designated by the Board as likely to be Covered Employees within the
meaning of Section 162(m) shall, if so designated by the Board, qualify as “performance-based compensation” within
the meaning of Section 162(m). Accordingly, the terms of Section 12.2, including the definitions of Covered Employee and
other terms used therein, shall be interpreted in a manner consistent with Section 162(m). The foregoing notwithstanding, because
the Board cannot determine with certainty whether a given Grantee will be a Covered Employee with respect to a fiscal year that
has not yet been completed, the term Covered Employee as used herein shall mean only a person designated by the Board, at the
time of grant of Performance Awards, as likely to be a Covered Employee with respect to that fiscal year. If any provision of
the Plan or any agreement relating to such Performance Awards does not comply or is inconsistent with the requirements of Section
162(m), such provision shall be construed or deemed amended to the extent necessary to conform to such requirements.

 

13.
other SHARE-based awards

 

13.1.
Grant of Other Share-based Awards.

 

Other
Share-based Awards may be granted either alone or in addition to or in conjunction with other Awards. Other Share-based Awards
may be granted in lieu of other cash or other compensation to which a Service Provider is entitled from the Company or may be
used in the settlement of amounts payable in Shares under any other compensation plan or arrangement of the Company, including
any other Company incentive compensation plan. The Board shall determine the persons to whom and the time or times at which such
Awards will be made, the number of Shares to be granted pursuant to such Awards, and all other terms and conditions of such Awards.
Unless the Board determines otherwise, any such Award shall be confirmed by an Award Agreement, which shall contain such provisions
as the Board determines to be necessary or appropriate to carry out the intent of the Plan with respect to such Award.

 

13.2.
Terms of Other Share-based Awards.

 

Any
Common Stock subject to Awards made under this Section 13 may not be sold, assigned, transferred, pledged or otherwise
encumbered prior to the date on which the Shares are issued, or, if later, the date on which any applicable restriction, performance
or deferral period lapses.

 

    	 	14	 

    	 

    

 

14.
REQUIREMENTS OF LAW

 

14.1.
General.

 

The
Company shall not be required to sell or issue any Shares under any Award if the sale or issuance of such Shares would constitute
a violation by the Grantee, any other individual exercising an Option or the Company of any provision of any law or regulation
of any governmental authority, including any federal or state securities laws or regulations. If at any time the Board determines
that the listing, registration or qualification of any Shares subject to an Award upon any securities exchange or under any governmental
regulatory body is necessary or desirable as a condition of, or in connection with, the issuance or purchase of Shares hereunder,
no Shares may be issued or sold to the Grantee or any other individual exercising an Option pursuant to such Award unless such
listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable
to the Company, and any delay caused thereby shall in no way affect the date of termination of the Award. Specifically, in connection
with the Securities Act, upon the exercise of any Option or the delivery of any Shares underlying an Award, unless a registration
statement under such Act is in effect with respect to the Shares covered by such Award, the Company shall not be required to sell
or issue such Shares unless the Board has received evidence satisfactory to it that the Grantee or any other individual exercising
an Option may acquire such Shares pursuant to an exemption from registration under the Securities Act. The Company may, but shall
in no event be obligated to, register any securities covered hereby pursuant to the Securities Act. The Company shall not be obligated
to take any affirmative action in order to cause the exercise of an Option or the issuance of Shares pursuant to the Plan to comply
with any law or regulation of any governmental authority. As to any jurisdiction that expressly imposes the requirement that an
Option shall not be exercisable until the Shares covered by such Option are registered or are exempt from registration, the exercise
of such Option (under circumstances in which the laws of such jurisdiction apply) shall be deemed conditioned upon the effectiveness
of such registration or the availability of such an exemption.

 

14.2.
Section 25102(o) of the California Corporations Code.

 

The
Plan is intended to comply with Section 25102(o) of the California Corporations Code. In that regard, to the extent required by
Section 25102(o), (i) the terms of any Options or SARs, to the extent vested and exercisable upon a Grantee’s Separation
from Service, shall include any minimum exercise periods following Separation from Service specified by Section 25102(o), and
(ii) any repurchase right of the Company with respect to Shares issued under the Plan shall include a minimum 90-day notice requirement.
Any provision of the Plan which is inconsistent with Section 25102(o) shall, without further act or amendment by the Company or
the Board, be reformed to comply with the requirements of Section 25102(o).

 

14.3.
Rule 16b-3.

 

During
any time when the Company has a class of equity security registered under Section 12 of the Exchange Act, it is the intent of
the Company that Awards and the exercise of Options will qualify for the exemption provided by Rule 16b-3 under the Exchange Act.
To the extent that any provision of the Plan or action by the Board or Committee does not comply with the requirements of Rule
16b-3, it shall be deemed inoperative to the extent permitted by law and deemed advisable by the Board, and shall not affect the
validity of the Plan. In the event that Rule 16b-3 is revised or replaced, the Board may modify the Plan in any respect necessary
to satisfy the requirements of, or to take advantage of any features of, the revised exemption or its replacement.

 

    	 	15	 

    	 

    

 

15.
EFFECT OF CHANGES IN CAPITALIZATION

 

15.1.
Adjustments for Changes in Capital Structure.

 

Subject
to any required action by the Stockholders, in the event of any change in the Common Stock effected without receipt of consideration
by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock
dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares or similar
change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the Stockholders in
a form other than Shares (excepting normal cash dividends) that has a material effect on the Fair Market Value, appropriate and
proportionate adjustments shall be made in the number and class of shares subject to the Plan and to any outstanding Awards, and
in the Option Price, SAR Exercise Price or Purchase Price per Share of any outstanding Awards in order to prevent dilution or
enlargement of Grantees’ rights under the Plan. For purposes of the foregoing, conversion of any convertible securities
of the Company shall not be treated as “effected without receipt of consideration by the Company.” If a majority of
the Shares which are of the same class as the Shares that are subject to outstanding Awards are exchanged for, converted into,
or otherwise become (whether or not pursuant to a Change in Control) shares of another corporation (the “New Shares”),
the Board may unilaterally amend the outstanding Awards to provide that such Awards are for New Shares. In the event of any such
amendment, the number of Shares subject to, and the Option Price, SAR Exercise Price or Purchase Price per Share of, the outstanding
Awards shall be adjusted in a fair and equitable manner. Any fractional share resulting from an adjustment pursuant to this Section
15.1 shall be rounded down to the nearest whole number and the Option Price, SAR Exercise Price or Purchase Price per share
shall be rounded up to the nearest whole cent. In no event may the exercise price of any Award be decreased to an amount less
than the par value, if any, of the stock subject to the Award. The Board may also make such adjustments in the terms of any Award
to reflect, or related to, such changes in the capital structure of the Company or distributions as it deems appropriate. Adjustments
determined by the Board pursuant to this Section 15.1 shall be made in accordance with Section 409A to the extent applicable.

 

15.2.
Change in Control.

 

15.2.1.
Consequences of a Change in Control.

 

Subject
to the requirements and limitations of Section 409A if applicable, the Board may provide for any one or more of the following
in connection with a Change in Control, which such actions need not be the same for all Grantees:

 

(a) Accelerated
Vesting. The Board may provide in any Award Agreement, or in the event of a Change in Control may take such actions as
it deems appropriate to provide, for the acceleration of the exercisability, vesting and/or settlement in connection with
such Change in Control of each or any outstanding Award or portion thereof and Shares acquired pursuant thereto upon such
terms and conditions, including termination of the Grantee’s Service prior to, upon, or following such Change in
Control, to such extent as determined by the Board.

 

(b) Assumption,
Continuation or Substitution. In the event of a Change in Control, the surviving, continuing, successor or purchasing
corporation or other business entity or parent thereof, as the case may be (the “Acquiror”), may,
without the consent of any Grantee, either assume or continue the Company’s rights and obligations under each or any
Award or portion thereof outstanding immediately prior to the Change in Control or substitute for each or any such
outstanding Award or portion thereof a substantially equivalent award with respect to the Acquiror’s stock, as
applicable. For purposes of this Section 15.2.1, an Award denominated in Shares shall be deemed assumed if, following
the Change in Control, the Award confers the right to receive, subject to the terms and conditions of the Plan and the
applicable Award Agreement, for each Share subject to the Award immediately prior to the Change in Control, the consideration
(whether stock, cash, other securities or property or a combination thereof) to which a Stockholder on the effective date of
the Change in Control was entitled; provided, however, that if such consideration is not solely common stock of
the Acquiror, the Board may, with the consent of the Acquiror, provide for the consideration to be received upon the exercise
or settlement of the Award, for each Share subject to the Award, to consist solely of common stock of the Acquiror equal in
Fair Market Value to the per Share consideration received by Stockholders pursuant to the Change in Control. If any portion
of such consideration may be received by Stockholders pursuant to the Change in Control on a contingent or delayed basis, the
Board may determine such Fair Market Value as of the time of the Change in Control on the basis of the Board’s estimate
of the present value of the probable future payment of such consideration. Any Award or portion thereof which is
neither assumed or continued by the Acquiror in connection with the Change in Control nor exercised or settled as of the time
of consummation of the Change in Control shall terminate and cease to be outstanding effective as of the time of consummation
of the Change in Control.

 

    	 	16	 

    	 

    

 

(c) Cash-Out
of Awards. The Board may, without the consent of any Grantee, determine that, upon the occurrence of a Change in
Control, each or any Award or a portion thereof outstanding immediately prior to the Change in Control and not previously
exercised or settled shall be canceled in exchange for a payment with respect to each vested Share (and each unvested Share,
if so determined by the Board) subject to such canceled Award in (i) cash, (ii) stock of the Company or of a corporation or
other business entity a party to the Change in Control or (iii) other property which, in any such case, shall be in an amount
having a Fair Market Value equal to the Fair Market Value of the consideration to be paid per Share in the Change in Control,
reduced by the exercise or purchase price per Share, if any, under such Award. If any portion of such consideration may be
received by Stockholders pursuant to the Change in Control on a contingent or delayed basis, the Board may determine such
Fair Market Value as of the time of the Change in Control on the basis of the Board’s estimate of the present value of
the probable future payment of such consideration. In the event such determination is made by the Board, the amount of such
payment (reduced by applicable withholding taxes, if any) shall be paid to Grantees in respect of the vested portions of
their canceled Awards as soon as practicable following the date of the Change in Control and in respect of the unvested
portions of their canceled Awards in accordance with the vesting schedules applicable to such Awards. For avoidance of doubt,
if the amount determined pursuant to this Section 15.2.1(c) for an Option or SAR is zero or less, the affected Option
or SAR may be cancelled without any payment therefore.

 

15.2.2.
Change in Control Defined.

 

Unless
other provided in the applicable Award Agreement, a “Change in Control” means the consummation of any of the
following events:

 

(a)
the acquisition, other than from the Company, by any individual, entity or group (within the meaning of Section 13(d)(3) or
Section 14(d)(2) of the Exchange Act), other than the Company or any subsidiary, affiliate (within the meaning of Rule 144
promulgated under the Securities Act) or employee benefit plan of the Company, of beneficial ownership (within the meaning of
Rule 13d-3 promulgated under the Exchange Act) of more than 50% of the combined voting power of the then outstanding voting
securities of the Company entitled to vote generally in the election of directors (the “Voting
Securities”); or

 

(b)
a reorganization, merger, consolidation or recapitalization of the Company (a “Business Combination”),
other than a Business Combination in which more than 50% of the combined voting power of the outstanding voting securities of
the surviving or resulting entity immediately following the Business Combination is held by the persons who, immediately
prior to the Business Combination, were the holders of the Voting Securities; or

 

(c)
a complete liquidation or dissolution of the Company, or a sale of all or substantially all of the assets of the Company;
or

 

(d)
during any period of 24 consecutive months, the Incumbent Directors cease to constitute a majority of the Board ;
“Incumbent Directors” means individuals who were members of the Board at the beginning of such period or
individuals whose election or nomination for election to the Board by the Stockholders was approved by a vote of at least a
majority of the then Incumbent Directors (but excluding any individual whose initial election or nomination is in connection
with an actual or threatened proxy contest relating to the election of directors).

 

Notwithstanding
the foregoing, if it is determined that an Award is subject to the requirements of Section 409A and payable upon a Change in Control,
the Company will not be deemed to have undergone a Change in Control for purposes of the Plan unless the Company is deemed to
have undergone a “change in control event” pursuant to the definition of such term in Section 409A.

 

    	 	17	 

    	 

    

 

15.3.
Adjustments.

 

Adjustments
under this Section 15 related to Shares or other securities of the Company shall be made by the Board. No fractional Shares
or other securities shall be issued pursuant to any such adjustment, and any fractions resulting from any such adjustment shall
be eliminated in each case by rounding downward to the nearest whole Share.

 

16.
No Limitations on Company

 

The
making of Awards shall not affect or limit in any way the right or power of the Company to make adjustments, reclassifications,
reorganizations or changes of its capital or business structure or to merge, consolidate, dissolve or liquidate, or to sell or
transfer all or any part of its business or assets.

 

17.
TERMS APPLICABLE GENERALLY TO AWARDS GRANTED UNDER THE PLAN

 

17.1.
Disclaimer of Rights.

 

No
provision in the Plan or in any Award Agreement shall be construed to confer upon any individual the right to remain in the employ
or service of the Company or any Affiliate, or to interfere in any way with any contractual or other right or authority of the
Company or any Affiliate either to increase or decrease the compensation or other payments to any individual at any time, or to
terminate any employment or other relationship between any individual and the Company or any Affiliate. In addition, notwithstanding
anything contained in the Plan to the contrary, unless otherwise provided in the applicable Award Agreement, no Award granted
under the Plan shall be affected by any change of duties or position of the Grantee, so long as such Grantee continues to be a
Service Provider. The obligation of the Company to pay any benefits pursuant to the Plan shall be interpreted as a contractual
obligation to pay only those amounts described herein, in the manner and under the conditions prescribed herein. The Plan shall
in no way be interpreted to require the Company to transfer any amounts to a third party trustee or otherwise hold any amounts
in trust or escrow for payment to any Grantee or beneficiary under the terms of the Plan.

 

17.2.
Nonexclusivity of the Plan.

 

Neither
the adoption of the Plan nor the submission of the Plan to the Stockholders for approval shall be construed as creating any limitations
upon the right or authority of the Board or its delegate to adopt such other compensation arrangements as the Board or its delegate
determines desirable.

 

17.3.
Withholding Taxes.

 

The
Company or an Affiliate, as the case may be, shall have the right to deduct from payments of any kind otherwise due to a Grantee
any federal, state or local taxes of any kind required by law to be withheld (i) with respect to the vesting of or other lapse
of restrictions applicable to an Award, (ii) upon the issuance of any Shares upon the exercise of an Option or SAR or (iii) otherwise
due in connection with an Award. At the time of such vesting, lapse or exercise, the Grantee shall pay to the Company or the Affiliate,
as the case may be, any amount that the Company or the Affiliate may reasonably determine to be necessary to satisfy such withholding
obligation. Subject to the prior approval of the Board, the Grantee may elect to satisfy such obligations, in whole or in part,
(i) by causing the Company or the Affiliate to withhold the minimum required number of Shares otherwise issuable to the Grantee
as may be necessary to satisfy such withholding obligation or (ii) by delivering to the Company or the Affiliate Shares already
owned by the Grantee. The Shares so delivered or withheld shall have an aggregate Fair Market Value equal to such withholding
obligations. The Fair Market Value of the Shares used to satisfy such withholding obligation shall be determined by the Company
or the Affiliate as of the date that the amount of tax to be withheld is to be determined. A Grantee who has made an election
pursuant to this Section 17.3 may satisfy his or her withholding obligation only with Shares that are not subject to any
repurchase, forfeiture, unfulfilled vesting or other similar requirements.

 

    	 	18	 

    	 

    

 

17.4.
Right of First Refusal; Right to Repurchase.

 

17.4.1.
Right of First Refusal.

 

Unless
otherwise provided in the applicable Award Agreement, stockholders’ agreement or other agreement to which a Holder is a
party, at any time prior to registration by the Company of its Common Stock under Section 12 of the Exchange Act, in the event
that the Holder desires at any time to sell or otherwise transfer all or any part of such Holder’s Issued Shares (to the
extent vested), the Holder first shall give written notice to the Company of the Holder’s intention to make such transfer.
Such notice shall state the number of Issued Shares which the Holder proposes to sell (the “Offered Shares”),
the price and the terms at which the proposed sale is to be made and the name and address of the proposed transferee. At any time
within 30 days after the receipt of such notice by the Company, the Company or its assigns may elect to purchase all or any portion
of the Offered Shares at the price and on the terms offered by the proposed transferee and specified in the notice. The Company
or its assigns shall exercise this right by mailing or delivering written notice to the Holder within the foregoing 30-day period.
If the Company or its assigns elect to exercise its purchase rights under this Section 17.4.1, the closing for such purchase
shall, in any event, take place within 45 days after the receipt by the Company of the initial notice from the Holder. In the
event that the Company or its assigns do not elect to exercise such purchase right, or in the event that the Company or its assigns
do not pay the full purchase price within such 45-day period, the Holder may, within 60 days thereafter, sell the Offered Shares
to the proposed transferee at the same price and on the same terms as specified in the Holder’s notice. Any Issued Shares
purchased by such proposed transferee shall continue to be subject to the terms of the Plan. Any Issued Shares not sold to the
proposed transferee shall remain subject to the Plan.

 

17.4.2.
Right of Repurchase.

 

Unless
otherwise provided in the applicable Award Agreement, stockholders’ agreement or other agreement to which a Grantee is a
party, at any time prior to registration by the Company of its Common Stock under Section 12 of the Exchange Act, in the case
of any Grantee whose Separation from Service is for Cause, or where the Grantee has, in the Board’s reasonable determination,
taken any action prior to or following his Separation of Service which would have constituted grounds for Cause, the Company shall
have the right, exercisable at any time and from time to time thereafter, to repurchase from the Grantee (or any successor in
interest by purchase, gift or other mode of transfer) any Shares issued to such Grantee under the Plan for the purchase price
paid by the Grantee for such Shares (or the Fair Market Value of such Common Stock at the time of repurchase, if lower).

 

17.5.
Market Standoff Requirement.

 

Unless
otherwise provided in the applicable Award Agreement, stockholders’ agreement or other agreement to which a Grantee is a
party, in connection with any underwritten public offering of its Common Stock (“Offering”) and upon request
of the Company or the underwriters managing the Offering, Grantees shall not be permitted to sell, make any short sale of, loan,
grant any option for the purchase of, or otherwise directly or indirectly dispose of any Shares delivered under the Plan (other
than those Shares included in the Offering) without the prior written consent of the Company or such underwriters, as the case
may be, for such period of time (not to exceed 180 days) from the effective date of the registration statement with respect to
such Offering as may be requested by the Company or such managing underwriters and to execute an agreement reflecting the foregoing
as may be requested by the underwriters in connection with such Offering.

 

    	 	19	 

    	 

    

 

17.6.
Other Provisions.

 

Each
Award Agreement may contain such other terms and conditions not inconsistent with the Plan as may be determined by the Board.
In the event of any conflict between the terms of an employment agreement and the Plan, the terms of the employment agreement
shall govern.

 

17.7.
Severability.

 

If
any provision of the Plan or any Award Agreement shall be determined to be illegal or unenforceable by any court of law in any
jurisdiction, the remaining provisions hereof and thereof shall be severable and enforceable in accordance with their terms, and
all provisions shall remain enforceable in any other jurisdiction.

 

17.8.
Governing Law.

 

The
Plan shall be governed by and construed in accordance with the laws of the State of Delaware without giving effect to the principles
of conflicts of law.

 

17.9.
Section 409A.

 

The
Plan is intended to comply with Section 409A 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 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, amounts that would otherwise be payable and benefits that would otherwise be provided
pursuant to the Plan during the six-month period immediately following the Grantee’s Separation from Service shall instead
be paid on the first payroll date after the six-month anniversary of the Grantee’s Separation from Service (or the Grantee’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 Grantee under Section 409A and neither the Company nor the
Board shall have any liability to any Grantee for such tax or penalty.

 

17.10.
Separation from Service.

 

The
Board shall determine the effect of a Separation from Service upon Awards, and such effect shall be set forth in the applicable
Award Agreement. Without limiting the foregoing, the Board may provide in the Award Agreements at the time of grant, or any time
thereafter with the consent of the Grantee, the actions that will be taken upon the occurrence of a Separation from Service, including
accelerated vesting or termination, depending upon the circumstances surrounding the Separation from Service.

 

17.11.
Transferability of Awards and Issued Shares.

 

17.11.1.
Transfers in General.

 

Except
as provided in Section 17.11.2, no Award shall be assignable or transferable by the Grantee to whom it is granted, other
than by will or the laws of descent and distribution, and, during the lifetime of the Grantee, only the Grantee personally (or
the Grantee’s personal representative) may exercise rights under the Plan.

 

    	 	20	 

    	 

    

 

17.11.2.
Family Transfers.

 

If
authorized in the applicable Award Agreement, a Grantee may transfer, not for value, all or part of an Award (other than Incentive
Stock Options) to any Family Member. For the purpose of this Section 17.11.2, a “not for value” transfer is
a transfer which is (i) a gift, (ii) a transfer under a domestic relations order in settlement of marital property rights or (iii)
a transfer to an entity in which more than 50% of the voting interests are owned by Family Members (or the Grantee) in exchange
for an interest in that entity. Following a transfer under this Section 17.11.2, any such Award shall continue to be subject
to the same terms and conditions as were applicable immediately prior to transfer. Subsequent transfers of transferred Awards
are prohibited except to Family Members of the original Grantee in accordance with this Section 17.11.2 or by will or the
laws of descent and distribution.

 

17.11.3.
Issued Shares.

 

No
Issued Shares shall be sold, assigned, transferred, pledged, hypothecated, given away or in any other manner disposed of or encumbered,
whether voluntarily or by operation of law, unless (i) such transfer is in compliance with the terms of the applicable Award,
all applicable securities laws, and with the terms and conditions of the Plan (including Sections 17.4 and 17.5
and this Section 17.11.3), (ii) such transfer does not cause the Company to become subject to the reporting requirements
of the Exchange Act, and (iii) the transferee consents in writing to be bound by the terms and conditions of the Plan (including
Sections 17.4 and 17.5 and this Section 17.11.3). In connection with any proposed transfer, the Board may
require the transferor to provide at the transferor’s own expense an opinion of counsel to the transferor, satisfactory
to the Board, that such transfer is in compliance with all foreign, federal and state securities laws. Any attempted disposition
of Issued Shares not in accordance with the terms and conditions of this Section 17.11.3 shall be null and void, and the
Company shall not reflect on its records any change in record ownership of any Issued Shares as a result of any such disposition,
shall otherwise refuse to recognize any such disposition and shall not in any way give effect to any such disposition of Issued
Shares. Subject to the foregoing general provisions, and unless otherwise provided in the applicable Award Agreement, Issued Shares
may be transferred pursuant to the following specific terms and conditions:

 

(a) Transfers
to Permitted Transferees. The Holder may sell, assign, transfer or give away any or all of the Issued Shares to
Permitted Transferees; provided, however, that following such sale, assignment or other transfer, such Issued Shares
shall continue to be subject to the terms of the Plan (including Sections 17.4 and 17.5 and this Section
17.11.3) and such Permitted Transferee(s) shall, as a condition to any such transfer, deliver a written acknowledgment to
that effect to the Company.

 

(b) Transfers
upon Death. Upon the death of the Holder, any Issued Shares then held by the Holder at the time of such death and any
Issued Shares acquired thereafter by the Holder’s legal representative shall be subject to the terms and conditions of
the Plan, and the Holder’s estate, executors, administrators, personal representatives, heirs, legatees and
distributees shall be obligated to convey such Issued Shares to the Company or its assigns under the terms contemplated
hereby.

 

17.12.
Dividends and Dividend Equivalent Rights.

 

If
specified in the Award Agreement, the recipient of an Award may be entitled to receive, currently or on a deferred basis, dividends
or dividend equivalents with respect to the Common Stock or other securities covered by an Award. The terms and conditions of
a dividend equivalent right may be set forth in the Award Agreement. Dividend equivalents credited to a Grantee may be paid currently
or may be deemed to be reinvested in additional Shares or other securities of the Company at a price per unit equal to the Fair
Market Value on the date that such dividend was paid to Stockholders.

 

    	 	21	 

    	 

    

 

17.13.
Plan Construction.

 

In
the Plan, unless otherwise stated, the following uses apply: (i) references to a statute or law refer to the statute or law and
any amendments and any successor statutes or laws, and to all valid and binding governmental regulations, court decisions and
other regulatory and judicial authority issued or rendered thereunder, as amended, or their successors, as in effect at the relevant
time; (ii) in computing periods from a specified date to a later specified date, the words “from” and “commencing
on” (and the like) mean “from and including,” and the words “to,” “until” and “ending
on” (and the like) mean “to and including”; (iii) indications of time of day shall be based upon the time applicable
to the location of the principal headquarters of the Company; (iv) the words “include,” “includes” and
“including” (and the like) mean “include, without limitation,” “includes, without limitation”
and “including, without limitation” (and the like), respectively; (v) all references to articles and sections are
to articles and sections in the Plan; (vi) all words used shall be construed to be of such gender or number as the circumstances
and context require; (vii) the captions and headings of articles and sections have been inserted solely for convenience of reference
and shall not be considered a part of the Plan, nor shall any of them affect the meaning or interpretation of the Plan or any
of its provisions; (viii) any reference to an agreement, plan, policy, form, document or set of documents, and the rights and
obligations of the parties under any such agreement, plan, policy, form, document or set of documents, shall mean such agreement,
plan, policy, form, document or set of documents as amended from time to time, and any and all modifications, extensions, renewals,
substitutions or replacements thereof; and (ix) all accounting terms not specifically defined shall be construed in accordance
with GAAP.

 

Adopted
by the Board: October 1, 2016

 

Approved
by the Stockholders: October 1, 2016

 

Scheduled
Termination Date: October 1, 2026

 

    	 	22EXHIBIT 10.13

  

HANCOCK
JAFFE LABORATORIES, INC.

 

MEDICAL
ADVISORY BOARD AGREEMENT

 

THIS
MEDICAL ADVISORY BOARD AGREEMENT (the “Agreement”) is made as of this 1st day of May, 2016 by and between
Hancock Jaffe Laboratories Inc., a Delaware corporation (“HJL”), located at 70 Doppler, Irvine, California, 92618
and Steve Elias, M.D. having an address at 350 Engle Street, Englewood, New Jersey 07631.

 

WHEREAS,
the Medical Advisory Board (“MAB”) of HJL is intended to act as a distinguished panel of medical professionals,
organized to provide outstanding expertise and leadership in cardiac valve disease and disorders with especial focus on pediatric
valve replacement and;

 

WHEREAS,
HJL desires that the MAB provide HJL with certain services in support of HJL’s venous valve (the “Device”)
business, especially as it relates to chronic venous insufficiency;

 

WHEREAS,
the MAB member desires to provide such services in accordance with the terms set forth herein.

 

IT
IS HEREBY AGREED:

 

1.
Appointment and Term. HJL hereby appoints the MAB Member to render the advisory services described in Section 2 hereof
and the MAB Member hereby agrees to serve as a member of the MAB of HJL for a period of 12 months commencing on the date hereof.
Unless terminated by either party within sixty days of the first anniversary of the date hereof and every anniversary thereafter,
this agreement shall automatically extend for an additional twelve months. In the event that the MAB Member as an employee must
obtain written consent from the MAB Member’s employer to render services on behalf of the MAB, subject to the MAB Member’s
obtaining the prior written consent of the MAB Member’s Employer to this Agreement, the MAB Member represents and warrants
to HJL that he is permitted to enter into this Agreement and perform the obligations contemplated hereby and that this Agreement
and the terms and obligations hereof are not inconsistent with any other obligation he may have.

 

2.
Services. HJL and the MAB member mutually agree that all of the services contemplated or provided for herein are primarily
limited to preclinical issues and to matters related to the design of clinical trials and/or investigations. The Services of the
MAB member are to:

 

(a)       Comment
upon, identify and/or assist in the preparation of specific recommendations related to the use and/or technical guidelines for
the Device;

 

    	 	Page 1 of 6	 

    	 

    

 

(b)       Comment
upon, identify and/or assist in the preparation of specific recommendations related to the design of clinical trials and/or clinical
investigation;

 

(c)       When
appropriate and in accordance with regulatory guidelines discuss with regulatory agencies certain matters or issues related to
regulatory approval procedures.

 

(d)       
When appropriate and in accordance with regulatory guidelines discuss with physicians or other involved parties certain aspects
of the safety and efficacy of the Device.

 

The
MAB Member agrees to devote his best efforts to performing the Services. The MAB Member agrees to make himself available to render
the Services, at such time or times and location or locations as may be mutually agreed, from time to time as requested by HJL.
It is assumed that the time commitment and activity related to the above services will be reasonable and conducted mainly by telephone
or in private meetings between the MAB Member and HJL. Under certain conditions it is contemplated that the above Services may
necessitate travel, related accommodations and associated expenses; in such an event HJL will at its sole expense provide for
and make arrangements to accomplish such matters with the prior approval of the MAB member.

 

3.
Accuracy of Information. HJL shall furnish or caused to be furnished to the MAB Member such information as the MAB Member
believes appropriate to render the Services under section 2 herein.

 

4.
Publicity. HJL shall have the right to publicize the MAB Member’s affiliation with HJL subject to (a) the prior review
and approval of the MAB Member, which approval will not be unreasonably withheld or delayed, and (b) if the proposed publicity
references any relationship between the MAB Member and the MAB Member’s Employer, the prior written consent of the MAB Member’s
Employer.

 

5.
Fees. For the full, prompt and faithful performance of the Services, HJL shall pay the MAB Member a fee of $4,500 (four
thousand and five hundred dollars) per month payable within five business days of the 15th day of each month.

 

6.
Reimbursements. In addition to the fees payable pursuant to Section 5, HJL shall pay directly or reimburse the MAB Member
for Out-of-Pocket Expenses. For the purposes of this Agreement, the term “Out-of-Pocket Expenses” shall mean any and
all reasonable costs and expenses incurred by the MAB Member in connection with the services rendered hereunder, provided that
any and all such costs and expenses in excess of $500.00 (five hundred dollars) shall be pre-approved by HJL either in writing
or by oral agreement.

 

    	 	Page 2 of 6	 

    	 

    

 

7.
Indemnification. HJL shall indemnify and hold harmless the MAB Member from and against any and all liabilities and expenses
including amounts paid in satisfaction of judgments, in compromise or as fines and penalties, and counsel fees, whether joint
or several, related to, arising out of or in connection with the defense or disposition of any action, suit or other proceeding,
whether civil or criminal, in which the MAB Member may be involved or with which the MAB Member may be threatened, while performing
the Services or thereafter, by reason of the MAB Member being or having been a member of the MAB, except with respect to any matter
as to which the MAB Member shall not have acted in good faith in the reasonable belief that his action was in the best interests
of HJL. HJL will reimburse the MAB Member for all reasonable costs and expenses (including reasonable attorney’s fees and
expenses) as they are incurred in connection with investigating, preparing, pursuing, defending or assisting in the defense of
any action, claim, suit, investigation or proceeding for which the MAB Member would be entitled to indemnification under the terms
of the previous sentence, or any action arising therefrom, whether or not the MAB Member is a party thereto.

 

8.
Confidential Information. The MAB Member agrees that he will not at any time publish or disclose to others or use for his
own benefit or the benefit of others any Confidential Information (as hereafter defined), except to such extent as may be necessary
in the ordinary course of performing in good faith his particular duties as a member of the MAB and with the prior written consent
of HJL. The term “Confidential Information” shall mean research, development, engineering or manufacturing data, plans,
designs, formulae, processes, specifications, techniques, trade secrets, financial information, customer or supplier lists or
other information that belongs to HJL or any of its clients, customers, consultants, licensors, licensees, or affiliates and is
identified or treated as confidential by HJL or any of its clients, customers, consultants, licensors, licensees, or affiliates;
provided, however, that “Confidential Information” shall not include any of such information that is already in the
possession of the MAB Member from a source not under an obligation or duty of non-disclosure to HJL, any of such information that
is hereafter obtained by the MAB Member from a source other than HJL who is not under an obligation or duty of non-disclosure
to HJL, or any of such information that is in the public domain or is otherwise generally known to HJL’s competitors (in
either case other than because of a disclosure by the MAB Member in violation of this Section 8.)

 

9.
Termination. This Agreement may be terminated by either party upon 30 days prior written notice. Such termination shall
not relieve the MAB Member or HJL of any obligations hereunder which by their terms are intended to survive the termination of
the MAB Member’s association with HJL, including but not limited to the obligations of Sections 7, 8 and 9.

 

10.
Miscellaneous.

 

	 	(a)	Entire
    Agreement. This Agreement constitutes the entire agreement between the parties as to the subject matter hereof. No provision
    of this Agreement shall be waived, altered or canceled except in writing signed by the party against whom such waiver, alteration
    or cancellation is asserted. Any such waiver shall be limited to the particular instance and the particular time when and
    for which it is given.

 

    	 	Page 3 of 6	 

    	 

    

 

	 	(b)	Nature
    of Agreement. It is understood and agreed that neither this Agreement nor the Services to be rendered hereunder shall
    for any purpose whatsoever or in any way or manner create any employer-employee relationship between the MAB Member and HJL
    and that the MAB Member shall not be entitled to any fringe benefits generally provided to employees of HJL and HJL shall
    not be required to maintain workers’ compensation coverage for the MAB Member.
	 	 	 
	 	(c)	Successors
    and Assigns. Services to be rendered by the MAB Member are personal in nature. Neither this Agreement nor any of the rights,
    interests or obligations hereunder may be assigned by any of the parties hereto, in whole or in part (whether by operation
    of law or otherwise), without the prior written consent of the other parties, and any attempt to make any such assignment
    without such consent shall be null and void.
	 	 	 
	 	(d)	Severability.
    The invalidity or unenforceability of any provision hereof as to an obligation of a party shall in no way affect the validity
    or enforceability of any other provision of this Agreement, provided that if such invalidity or unenforceability materially
    adversely affects the benefits the other party reasonably expected to receive hereunder, that party shall have the right to
    terminate this Agreement. Moreover, if one or more of the provisions contained in this Agreement shall for any reason be held
    to be excessively broad as to scope, activity or subject so as to be unenforceable at law, such provision or provisions shall
    be construed by limiting or reducing it or them, so as to be enforceable to the extent compatible with the applicable law
    as it shall then appear. Notwithstanding, upon such determination that any term or other provision is invalid, illegal or
    incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the
    original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated
    hereby are consummated as originally contemplated to the greatest extent possible.
	 	 	 
	 	(e)	Notices.
    All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal
    delivery to the party to be notified; (b) when sent by confirmed facsimile if sent during normal business hours of the recipient,
    if not, then on the next business day; (c) five calendar days after having been sent by registered or certified mail, return
    receipt requested, postage prepaid; or (d) one business day after deposit with a nationally recognized overnight courier,
    specifying next day delivery, with written verification of receipt. All communications are to be sent to the addresses set
    forth below:

 

    	 	Page 4 of 6	 

    	 

    

 

(i)
if to HJL:Hancock Jaffe Laboratories Aesthetics, Inc.

70
Doppler

Irvine,
California 92618

 

(ii)
if to MAB Member:

 

	 	 (f)	 Interpretation.
    When a reference is made in this Agreement to Sections, such reference shall be to a Section of this Agreement unless
    otherwise indicated. The titles and headings contained in this Agreement are for reference purposes only and shall not affect
    in any way the meaning or interpretation of this Agreement. Whenever the words “include,” “includes”
    or “including” are used in this Agreement, they shall be deemed to be followed by the words “without
    limitation. Any use of the masculine gender herein shall apply equally to the feminine.
	 	 	 
	 	(g)	Governing
    Law; Jurisdiction; Waiver of Jury Trial. THIS AGREEMENT SHALL BE GOVERNED BY, CONSTRUED AND ENFORCED BY THE LAWS OF THE
    STATE OF CALIFORNIA. No suit, action or proceeding with respect to this Agreement may be brought in any court or before any
    similar authority other than in a court of competent jurisdiction in the State of California, and the parties hereto submit
    to the exclusive jurisdiction of these courts for the purpose of such suit, proceeding or judgment. The parties hereto irrevocably
    waive any right which they may have to bring such an action in any other court, domestic or foreign, or before any similar
    domestic or foreign authority. EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL
    ACTION OR PROCEEDING IN RELATION TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM THEREIN.
	 	 	 
	 	(h)	Counterparts.
    This Agreement may be executed in one or more counterparts (including by facsimile), all of which shall be considered
    one and the same agreement and shall become effective when one or more counterparts have been signed by each of the parties
    and delivered.

 

THIS
SPACE LEFT INTENTIONALLY BLANK

SIGNATURE
PAGE FOLLOWS

 

    	 	Page 5 of 6	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have duly executed this Agreement as a sealed instrument as of the day written herein
above.

 

	HANCOCK JAFFE LABORATORIES, INC.	 
	 	 	 
	By:
	 	 
	 	 	 
	Name:	 Norman Jaffe	 
	Its:	 President	 
	 	 	 
	MEDICAL ADVISORY BOARD MEMBER	 
	 	 	 
	By:	 	 
	 	 	 
	Name:	 Steve Elias, M.D.	 

 

    	 	Page 6 of 6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00274-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00274-of-00352.parquet"}]]