Document:

Exhibit 10.14

 

BRERA HOLDINGS LIMITED

 

2022 EQUITY INCENTIVE PLAN

 

1. Purpose;
Eligibility.

 

1.1. General
Purpose. The name of this plan is the Brera Holdings Limited 2022 Equity Incentive Plan (the “Plan”). The purposes
of the Plan are to (a) enable Brera Holdings Limited, an Irish private company limited by shares (the “Company”), and
any Affiliate to attract and retain the types of Employees, Consultants and Directors who will contribute to the Company’s long-term
success; (b) provide incentives that align the interests of Employees, Consultants and Directors with those of the shareholders of the
Company; and (c) promote the success of the Company’s business.

 

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

 

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

 

2. Definitions.

 

“Affiliate” means
a corporation or other entity that, directly or through one or more intermediaries, controls, is controlled by or is under common control
with, the Company, including, without limitation, any corporation that is a “parent corporation” or a “subsidiary corporation”
with respect to the Company within the meaning of Section 424(e) or (f) of the Code, and any other non-corporate entity
that would be such a subsidiary corporation if such entity were a corporation.

 

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

 

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

 

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

 

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

 

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

 

     

     

    

 

“Cause” means:

 

With respect to any
Employee or Consultant: (a) if the Employee or Consultant is a party to an employment or service agreement with the Company or its Affiliates
and such agreement provides for a definition of Cause, the definition contained therein; or (b) if no such agreement exists, or if such
agreement does not define Cause: (i) the commission of, or plea of guilty or no contest to, a felony, fraud or a crime involving moral
turpitude or the commission of any other act involving willful malfeasance or material fiduciary breach with respect to the Company or
an Affiliate; (ii) conduct that results in or is reasonably likely to result in harm to the reputation or business of the Company or any
of its Affiliates; (iii) gross negligence or willful misconduct with respect to the Company or an Affiliate; or (iv) material violation
of Irish law or state or federal securities laws.

 

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

 

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

 

“Change in Control” means
(a) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a
series of related transactions, of all or substantially all of the properties or assets of the Company and its subsidiaries, taken as
a whole, to any Person that is not a subsidiary of the Company; (b) the Incumbent Directors cease for any reason to constitute at least
a majority of the Board; (c) the date which is 10 business days prior to the consummation of a complete liquidation or dissolution of
the Company; (d) the acquisition by any Person of Beneficial Ownership of more than 50% (on a fully diluted basis) of either (i) the then
outstanding ordinary shares of all classes of ordinary shares of the Company, taking into account as outstanding for this purpose such
ordinary shares issuable upon the exercise of options or warrants, the conversion of convertible preferred shares or debt, and the exercise
of any similar right to acquire such ordinary shares (the “Outstanding Company Ordinary Shares”) or (ii) the combined
voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding
Company Voting Securities”); provided, however, that for purposes of this Plan, the following acquisitions shall not constitute
a Change in Control: (A) any acquisition by the Company or any Affiliate, (B) any acquisition by any employee benefit plan sponsored or
maintained by the Company or any subsidiary, (C) any acquisition which complies with clauses, (i), (ii) and (iii) of subsection (e) of
this definition or (D) in respect of an Award held by a particular Participant, any acquisition by the Participant or any group of persons
including the Participant (or any entity controlled by the Participant or any group of persons including the Participant); or (e) the
consummation of a reorganization, merger, consolidation, statutory share exchange or similar form of corporate transaction involving the
Company that requires the approval of the Company’s shareholders, whether for such transaction or the issuance of securities in
the transaction (a “Business Combination”), unless immediately following such Business Combination: (i) more than 50%
of the total voting power of (A) the entity resulting from such Business Combination (the “Surviving Company”), or
(B) if applicable, the ultimate parent entity that directly or indirectly has beneficial ownership of sufficient voting securities eligible
to elect a majority of the members of the board of directors (or the analogous governing body) of the Surviving Company (the “Parent
Company”), is represented by the Outstanding Company Voting Securities that were outstanding immediately prior to such Business
Combination (or, if applicable, is represented by shares into which the Outstanding Company Voting Securities were converted pursuant
to such Business Combination), and such voting power among the holders thereof is in substantially the same proportion as the voting power
of the Outstanding Company Voting Securities among the holders thereof immediately prior to the Business Combination; (ii) no Person (other
than any employee benefit plan sponsored or maintained by the Surviving Company or the Parent Company) is or becomes the Beneficial Owner,
directly or indirectly, of 50% or more of the total voting power of the outstanding voting securities eligible to elect members of the
board of directors of the Parent Company (or the analogous governing body) (or, if there is no Parent Company, the Surviving Company);
and (iii) at least a majority of the members of the board of directors (or the analogous governing body) of the Parent Company (or, if
there is no Parent Company, the Surviving Company) following the consummation of the Business Combination were Board members at the time
of the Board’s approval of the execution of the initial agreement providing for such Business Combination. The foregoing notwithstanding,
if the Award constitutes non-qualified deferred compensation under Section 409A of the Code, in no event shall a Change in Control be
deemed to have occurred unless such change shall satisfy the definition of a change in control under Section 409A of the Code.

 

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“Class B Ordinary
Shares” means the Class B Ordinary Shares, $0.005 nominal value per share, of the Company, which is entitled to one (1)
vote for each share of Class B Ordinary Shares held, or such other securities of the Company as may be designated by the Committee from
time to time in substitution thereof.

 

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

 

“Committee” means
the compensation committee of the Board, or if no such committee has been established, the full Board, or a committee of one or more members
of the Board appointed to administer the Plan in accordance with Section 3.3 and Section 3.4.

 

“Consultant” means
any individual who is engaged by the Company or any Affiliate to render consulting or advisory services.

 

“Continuous Service” means
that the Participant’s service with the Company or an Affiliate, whether as an Employee, Consultant or Director, is not interrupted
or terminated. The Participant’s Continuous Service shall not be deemed to have terminated merely because of a change in the capacity
in which the Participant renders service to the Company or an Affiliate as an Employee, Consultant or Director or a change in the entity
for which the Participant renders such service, provided that there is no interruption or termination of the Participant’s
Continuous Service; provided further that if any Award is subject to Section 409A of the Code, this sentence shall only be given
effect to the extent consistent with Section 409A of the Code. For example, a change in status from an Employee of the Company to a Director
of an Affiliate will not constitute an interruption of Continuous Service unless otherwise required by Section 409A of the Code. The Committee
or its delegate, in its sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of any leave
of absence approved by that party, including sick leave, military leave or any other personal or family leave of absence.

 

“Director” means
a member of the Board.

 

“Disability” means
that the Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental
impairment; provided, however, for purposes of determining the term of an Incentive Share Option pursuant to Section 6.10
hereof, the term Disability shall have the meaning ascribed to it under Section 22(e)(3) of the Code. The determination of whether an
individual has a Disability shall be determined under procedures established by the Committee. Except in situations where the Committee
is determining Disability for purposes of the term of an Incentive Share Option pursuant to Section 6.10 hereof within the
meaning of Section 22(e)(3) of the Code, the Committee may rely on any determination that a Participant is disabled for purposes of benefits
under any long-term disability plan maintained by the Company or any Affiliate in which a Participant participates. The foregoing notwithstanding,
if the Award is subject to Section 409A of the Code, in no event shall a Disability be deemed to have occurred unless such disability
satisfies the requirements of Section 409A of the Code.

 

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“Effective Date” shall
mean October 26, 2022.

 

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

 

“Exchange Act” means
the Securities Exchange Act of 1934, as amended.

 

“Fair Market Value” means,
as of any date, the value of the Class B Ordinary Shares as determined below. If the Class B Ordinary Shares are listed on any established
stock exchange or a U.S. market system, including without limitation, the New York Stock Exchange or the Nasdaq Stock Market, the Fair
Market Value shall be the closing price of a Class B Ordinary Shares (or if no sales were reported the closing price on the date immediately
preceding such date) as quoted on such exchange or system on the day of determination, as reported in the Wall Street Journal or
similar publication. In the absence of an established market for the Class B Ordinary Shares, the Fair Market Value shall be determined
in good faith by the Committee and such determination shall be conclusive and binding on all persons; provided that if an Award
is subject to Section 409A of the Code, then the Fair Market Value shall be determined in accordance with Section 409A of the Code.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Option Exercise
Price” means the price at which a Class B Ordinary Share may be purchased upon the exercise of an Option.

 

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

 

“Performance Compensation
Award” means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 7.4
of the Plan.

 

“Performance Criteria” means
the criterion or criteria that the Committee shall select for purposes of establishing the Performance Goal(s) for a Performance Period
with respect to any Performance Compensation Award under the Plan. The Performance Criteria that will be used to establish the Performance
Goal(s) shall be based on the attainment of specific levels of performance of the Company (or Affiliate, division, business unit or operational
unit of the Company) and may include the following: (a) net earnings or net income (before or after taxes); (b) basic or diluted
earnings per share (before or after taxes); (c) net revenue or net revenue growth; (d) gross revenue; (e) gross profit or gross profit
growth; (f) net operating profit (before or after taxes); (g) return on assets, capital, invested capital, equity, or sales; (h) cash
flow (including, but not limited to, operating cash flow, free cash flow, and cash flow return on capital); (i) earnings before or after
taxes, interest, depreciation and/or amortization; (j) gross or operating margins; (k) improvements in capital structure; (l) budget and
expense management; (m) productivity ratios; (n) economic value added or other value added measurements; (o) share price (including, but
not limited to, growth measures and total shareholder return); (p) expense targets; (q) margins; (r) operating efficiency; (s) working
capital targets; (t) enterprise value; (u) safety record; (v) completion of acquisitions or business expansion; (w) achieving research
and development goals and milestones; (x) achieving product commercialization goals; and (y) other criteria as may be set by the Committee
from time to time.

 

Any one or more of the Performance
Criteria may be used on an absolute or relative basis to measure the performance of the Company and/or an Affiliate as a whole or any
division, business unit or operational unit of the Company and/or an Affiliate or any combination thereof, as the Committee may deem appropriate,
or as compared to the performance of a group of comparable companies, or published or special index that the Committee, in its sole discretion,
deems appropriate, or the Committee may select Performance Criterion (o) above as compared to various stock market indices. The Committee
also has the authority to provide for accelerated vesting of any Award based on the achievement of Performance Goals pursuant to the Performance
Criteria specified in this paragraph, provided that if the Award is subject to Section 409A of the Code, such accelerated vesting does
not violate the rules of Code Section 409A. The Committee shall, within the first 90 days of a Performance Period (or, such longer or
shorter time period as the Committee shall determine) define in an objective fashion the manner of calculating the Performance Criteria
it selects to use for such Performance Period. In the event that applicable tax and/or securities laws change to permit the Committee
discretion to alter the governing Performance Criteria without obtaining shareholder approval of such changes, the Committee shall have
sole discretion to make such changes without obtaining shareholder approval.

 

“Performance Formula” means,
for a Performance Period, the one or more objective formulas applied against the relevant Performance Goal to determine, with regard to
the Performance Compensation Award of a particular Participant, whether all, some portion but less than all, or none of the Performance
Compensation Award has been earned for the Performance Period.

 

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“Performance Goals” means,
for a Performance Period, the one or more goals established by the Committee for the Performance Period based upon the Performance Criteria.
The Committee is authorized at any time during the first 90 days of a Performance Period (or such longer or shorter time period as the
Committee shall determine) or at any time thereafter, in its sole and absolute discretion, to adjust or modify the calculation of a Performance
Goal for such Performance Period in order to prevent the dilution or enlargement of the rights of Participants based on the following
events: (a) asset write-downs; (b) litigation or claim judgments or settlements; (c) the effect of changes in tax laws, accounting principles,
or other laws or regulatory rules affecting reported results; (d) any reorganization and restructuring programs; (e) extraordinary nonrecurring
items as described in Accounting Principles Board Opinion No. 30 (or any successor or pronouncement thereto) and/or in management’s
discussion and analysis of financial condition and results of operations appearing in the Company’s annual report to shareholders
for the applicable year; (f) acquisitions or divestitures; (g) any other specific unusual or nonrecurring events, or objectively determinable
category thereof; (h) foreign exchange gains and losses; and (i) a change in the Company’s fiscal year.

 

“Performance Period” means
the one or more periods of time not less than one fiscal quarter in duration, as the Committee may select, over which the attainment of
one or more Performance Goals will be measured for the purpose of determining a Participant’s right to and the payment of a Performance
Compensation Award.

 

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

 

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

 

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

 

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

 

“Securities Act” means
the Securities Act of 1933, as amended.

 

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

 

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

 

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3. Administration.

 

3.1. Authority
of Committee. The Plan shall be administered by the Committee or, in the Board’s sole discretion, by the Board. Subject to the
terms of the Plan and the provisions of Section 409A of the Code (if applicable), the Committee’s charter and Applicable Laws, and
in addition to other express powers and authorization conferred by the Plan, the Committee shall have the authority:

 

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

 

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

 

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

 

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

 

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

 

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

 

(g) to
determine the number of Class B Ordinary Shares to be made subject to each Award;

 

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

 

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

 

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

 

(k) to
designate an Award (including a cash bonus) as a Performance Compensation Award and to select the Performance Criteria that will be used
to establish the Performance Goals;

 

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

 

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

 

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

 

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

 

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

 

The Committee also may modify
the purchase price or the exercise price of any outstanding Award, provided that if the modification effects a repricing, shareholder
approval shall be required before the repricing is effective.

 

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

 

3.3. Delegation.
The Board may abolish the Committee at any time and re-vest in the Board the administration of the Plan. The members of the Committee
shall be appointed by and serve at the pleasure of the Board. From time to time, the Board may increase or decrease the size of the Committee,
add additional members to, remove members (with or without cause) from, appoint new members in substitution therefor, and fill vacancies,
however caused, in the Committee. The Committee shall act pursuant to a vote of the majority of its members or, in the case of a Committee
comprised of only two members, the unanimous consent of its members, whether present or not, or by the written consent of the majority
of its members and minutes shall be kept of all of its meetings and copies thereof shall be provided to the Board. Subject to the limitations
prescribed by the Plan and the Board, the Committee may establish and follow such rules and regulations for the conduct of its business
as it may determine to be advisable.

 

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

 

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

 

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4. Shares
Subject to the Plan.

 

4.1. Subject
to adjustment in accordance with Section 11 or otherwise by the Board, a total of 2,000,000 Class B Ordinary Shares shall
be available for the grant of Awards under the Plan. Class B Ordinary Shares granted in connection with all Awards under the Plan shall
be counted against this limit as one (1) Class B Ordinary Share for every one (1) Class B Ordinary Share granted in connection with such
Award. During the terms of the Awards, the Company shall keep available for issue or transfer at all times the number of Class B Ordinary
Shares required to satisfy such Awards.

 

4.2. Class
B Ordinary Shares available for issue or transfer under the Plan may consist, in whole or in part, of authorized and unissued shares,
treasury shares or shares reacquired by the Company in any manner.

 

4.3. Any
Class B Ordinary Shares subject to an Award that is canceled, surrendered or expires prior to exercise or realization, either in full
or in part, shall again become available for issuance under the Plan. Any Class B Ordinary Shares that again become available for future
grants pursuant to this Section 4.3 shall be added back as one (1) share. Notwithstanding anything to the contrary contained
herein: shares subject to an Award under the Plan shall not again be made available for issuance or transfer under the Plan if such shares
are (a) shares tendered in payment of an Option, (b) shares delivered or withheld by the Company to satisfy any tax withholding obligation,
or (c) shares covered by a share-settled Share Appreciation Right or other Awards that were not issued upon the settlement of the Award.

 

5. Eligibility.

 

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

 

5.2. Ten
Percent Shareholders. A Ten Percent Shareholder shall not be granted an Incentive Share Option unless the Option Exercise Price is
at least 110% of the Fair Market Value of the Class B Ordinary Shares at the Grant Date and the Option is not exercisable after the expiration
of five years from the Grant Date.

 

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

 

6.1. Term. Subject
to the provisions of Section 5.2 regarding Ten Percent Shareholders, no Incentive Share Option shall be exercisable after
the expiration of 7 years from the Grant Date. The term of a Non-qualified Share Option granted under the Plan shall be determined by
the Committee; provided, however, no Non-qualified Share Option shall be exercisable after the expiration of 7 years from the Grant
Date.

 

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

 

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

 

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

 

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

 

    10

     

    

 

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

 

6.7. Vesting
of Options. Each Option may, but need not, vest and therefore become exercisable in periodic installments that may, but need not,
be equal. The Option may be subject to such other terms and conditions on the time or times when it may be exercised (which may be based
on performance or other criteria) as the Committee may deem appropriate. The vesting provisions of individual Options may vary. No Option
may be exercised for a fraction of a Class B Ordinary Share. The Committee may, but shall not be required to, provide for an acceleration
of vesting and exercisability in the terms of any Award Agreement upon the occurrence of a specified event, provided that if such Award
is subject to Section 409A of the Code, such acceleration of vesting and exercisability complies with the provisions of Section 409A of
the Code.

 

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

 

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

 

6.10. Disability
of Optionholder. Unless otherwise provided in an Award Agreement, in the event that an Optionholder’s Continuous Service terminates
as a result of the Optionholder’s Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder
was entitled to exercise such Option as of the date of termination), but only within such period of time ending on the earlier of (a)
the date 12 months following such termination or (b) the expiration of the term of the Option as set forth in the Award Agreement. If,
after termination, the Optionholder does not exercise his or her Option within the time specified herein or in the Award Agreement, the
Option shall terminate.

 

6.11. Death
of Optionholder. Unless otherwise provided in an Award Agreement, in the event an Optionholder’s Continuous Service terminates
as a result of the Optionholder’s death, then the Option may be exercised (to the extent the Optionholder was entitled to exercise
such Option as of the date of death) by the Optionholder’s estate, by a person who acquired the right to exercise the Option by
proven bequest or inheritance or by a person designated to exercise the Option upon the Optionholder’s death, but only within the
period ending on the earlier of (a) the date 12 months following the date of death or (b) the expiration of the term of such Option as
set forth in the Award Agreement. If, after the Optionholder’s death, the Option is not exercised within the time specified herein
or in the Award Agreement, the Option shall terminate.

 

    11

     

    

 

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

 

7. Provisions
of Awards Other Than Options.

 

7.1. Share
Appreciation Rights.  

 

(a) General.
Each Share Appreciation Right granted under the Plan shall be evidenced by an Award Agreement. Each Share Appreciation Right so granted
shall be subject to the conditions set forth in this Section 7.1, and to such other conditions not inconsistent with the
Plan as may be reflected in the applicable Award Agreement. Share Appreciation Rights may be granted alone (“Free Standing Rights”)
or in tandem with an Option granted under the Plan (“Related Rights”). All such grants shall be exempt from, or comply
with, the provisions of Section 409A of the Code.

 

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

 

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

 

(d) Vesting
of Share Appreciation Rights. Each Share Appreciation Right may, but need not, vest and therefore become exercisable in periodic installments
that may, but need not, be equal. The Share Appreciation Right may be subject to such other terms and conditions on the time or times
when it may be exercised as the Committee may deem appropriate. The vesting provisions of individual Share Appreciation Rights may vary.
No Share Appreciation Right may be exercised for a fraction of a Class B Ordinary Share. The Committee may, but shall not be required
to, provide for an acceleration of vesting and exercisability in the terms of any Share Appreciation Right upon the occurrence of a specified
event, provided that if such Award is subject to Section 409A of the Code, such acceleration of vesting and exercisability complies with
the provisions of Section 409A of the Code.

 

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

 

    12

     

    

 

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

 

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

 

7.2. Restricted
Awards.  

 

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

 

(b) Restricted
Shares and Restricted Share Units.

 

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

 

    13

     

    

 

(ii) The
terms and conditions of a grant of Restricted Share Units shall be reflected in an Award Agreement. No Class B Ordinary Shares shall be
issued at the time a Restricted Share Unit is granted, and the Company will not be required to set aside a fund for the payment of any
such Award. A Participant shall have no voting rights with respect to any Restricted Share Units granted hereunder. The Committee may
also grant Restricted Share Units with a deferral feature, if permitted in Section 409A of the Code, whereby settlement is deferred beyond
the vesting date until the occurrence of a future payment date or event set forth in an Award Agreement (“Deferred Share Units”).
At the discretion of the Committee, each Restricted Share Unit or Deferred Share Unit (representing one Class B Ordinary Share) may be
credited with cash and share dividends paid by the Company in respect of one Class B Ordinary Share (“Dividend Equivalents”).
Dividend Equivalents shall not be paid but shall be credited to the Participant’s account, and interest may be credited on the amount
of cash Dividend Equivalents credited to the Participant’s account at a rate and subject to such terms as determined by the Committee.
Dividend Equivalents credited to a Participant’s account and attributable to any particular Restricted Share Unit or Deferred Share
Unit (and earnings thereon, if applicable) shall be distributed in cash or, at the discretion of the Committee, in Class B Ordinary Shares
having a Fair Market Value equal to the amount of such Dividend Equivalents and earnings, if applicable, to the Participant upon settlement
of such Restricted Share Unit or Deferred Share Unit and, if such Restricted Share Unit or Deferred Share Unit is forfeited, the Participant
shall have no right to such Dividend Equivalents.

 

(c) Restrictions.

 

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

 

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

 

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

 

    14

     

    

 

(d) Restricted
Period. With respect to Restricted Awards, the Restricted Period shall commence on the Grant Date and end at the time or times set
forth on a schedule established by the Committee in the applicable Award Agreement. No Restricted Award may be granted or settled for
a fraction of a Class B Ordinary Share. The Committee may, but shall not be required to, provide for an acceleration of vesting in the
terms of any Award Agreement upon the occurrence of a specified event, provided that if such Award is subject to Section 409A of the Code,
such acceleration is consistent with the provisions of Section 409A of the Code.

 

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

 

(f) Share
Restrictions. Each certificate or book entry form representing Restricted Shares awarded under the Plan shall bear a legend or notation
in such form as the Company deems appropriate.

 

7.3. Performance
Share Awards.  

 

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

 

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

 

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7.4. Performance
Compensation Awards.  

 

(a) General.
The Committee shall have the authority, at the time of grant of any Award described in this Plan (other than Options and Share Appreciation
Rights granted with an exercise price equal to or greater than the Fair Market Value per Class B Ordinary Share on the Grant Date), to
designate such Award as a Performance Compensation Award. In addition, the Committee shall have the authority to make an Award of a cash
bonus to any Participant and designate such Award as a Performance Compensation Award.

 

(b) Eligibility.
The Committee will, in its sole discretion, designate within the first 90 days of a Performance Period (or such shorter or longer time
period as the Committee shall determine) which Participants will be eligible to receive Performance Compensation Awards in respect of
such Performance Period. However, designation of a Participant eligible to receive an Award hereunder for a Performance Period shall not
in any manner entitle the Participant to receive payment in respect of any Performance Compensation Award for such Performance Period.
The determination as to whether or not such Participant becomes entitled to payment in respect of any Performance Compensation Award shall
be decided solely in accordance with the provisions of this Section 7.4. Moreover, designation of a Participant eligible
to receive an Award hereunder for a particular Performance Period shall not require designation of such Participant eligible to receive
an Award hereunder in any subsequent Performance Period and designation of one person as a Participant eligible to receive an Award hereunder
shall not require designation of any other person as a Participant eligible to receive an Award hereunder in such period or in any other
period.

 

(c) Discretion
of Committee with Respect to Performance Compensation Awards. With regard to a particular Performance Period, the Committee shall
have full discretion to select the length of such Performance Period (provided any such Performance Period shall be not less than one
fiscal quarter in duration), the type(s) of Performance Compensation Awards to be issued, the Performance Criteria that will be used to
establish the Performance Goal(s), the kind(s) and/or level(s) of the Performance Goal(s) that is (are) to apply to the Company and the
Performance Formula. Within the first 90 days of a Performance Period (or such shorter or longer time period as the Committee shall determine),
the Committee shall, with regard to the Performance Compensation Awards to be issued for such Performance Period, exercise its discretion
with respect to each of the matters enumerated in the immediately preceding sentence of this Section 7.4(c) and record the
same in writing.

 

(d) Payment
of Performance Compensation Awards.

 

(i) Condition
to Receipt of Payment. Unless otherwise provided in the applicable Award Agreement, a Participant must be employed by the Company
on the last day of a Performance Period to be eligible for payment in respect of a Performance Compensation Award for such Performance
Period.

 

(ii) Limitation.
A Participant shall be eligible to receive payment in respect of a Performance Compensation Award only to the extent that: (A) the Performance
Goals for such period are achieved; and (B) the Performance Formula as applied against such Performance Goals determines that all or some
portion of such Participant’s Performance Compensation Award has been earned for the Performance Period.

 

(iii) Certification.
Following the completion of a Performance Period, the Committee shall review and certify in writing whether, and to what extent, the Performance
Goals for the Performance Period have been achieved and, if so, calculate and certify in writing the amount of the Performance Compensation
Awards earned for the period based upon the Performance Formula. The Committee shall then determine the actual size of each Participant’s
Performance Compensation Award for the Performance Period.

 

    16

     

    

 

(iv) Use
of Discretion. The Committee shall not have the discretion to grant or provide payment in respect of Performance Compensation Awards
for a Performance Period if the Performance Goals for such Performance Period have not been attained.

 

(v) Timing
of Award Payments. Performance Compensation Awards granted for a Performance Period shall be paid to Participants as soon as administratively
practicable following completion of the certifications required by this Section 7.4 but in no event later than 2 1/2 months
following the end of the fiscal year during which the Performance Period is completed.

 

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

 

9. Use
of Proceeds from Share. Proceeds from the sale of Class B Ordinary Shares pursuant to Awards, or upon exercise thereof, shall constitute
general funds of the Company.

 

10. Miscellaneous.

 

10.1. Acceleration
of Exercisability and Vesting. The Committee shall have the power to accelerate the time at which an Award may first be exercised
or the time during which an Award or any part thereof will vest in accordance with the Plan, notwithstanding the provisions in the Award
stating the time at which it may first be exercised or the time during which it will vest, provided that if such Award is subject to Section
409A of the Code, any such acceleration or exercisability or vesting is in compliance with the provisions of Section 409A of the Code.

 

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

 

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

 

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

 

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

 

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

 

12. Effect
of Change in Control.

 

12.1. In
the discretion of the Board and the Committee, any Award Agreement may provide, or the Board or the Committee may provide by amendment
of any Award Agreement or otherwise, notwithstanding any provision of the Plan to the contrary, that in the event of a Change in Control,
Options and/or Share Appreciation Rights shall become immediately exercisable with respect to all or a specified portion of the shares
subject to such Options or Share Appreciation Rights, and/or the Restricted Period shall expire immediately with respect to all or a specified
portion of the shares of Restricted Shares or Restricted Share Units.

 

    18

     

    

 

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

 

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

 

13. Amendment
of the Plan and Awards.

 

13.1. Amendment
of Plan. The Board may amend, alter, suspend, discontinue, or terminate this Plan or any portion thereof at any time; provided
that no such amendment, alteration, suspension, discontinuation or termination shall be made without shareholder approval if such
approval is necessary to comply with any Applicable Laws (including, without limitation, as necessary to comply with any tax or regulatory
requirement applicable to this Plan); and provided further, that any such amendment, alteration, suspension, discontinuance or
termination that would materially and adversely affect the rights of any Participant or any holder or beneficiary of any Award theretofore
granted shall not to that extent be effective without the prior written consent of the affected Participant, holder or beneficiary.

 

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

 

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

 

13.4. Amendment
of Awards. The Committee may, to the extent consistent with the terms of any applicable Award Agreement, waive any conditions or rights
under, amend any terms of, or alter, suspend, discontinue, cancel or terminate, any Award theretofore granted or the associated Award
Agreement, prospectively or retroactively; provided, however that any such waiver, amendment, alteration, suspension,
discontinuance, cancellation or termination that would materially and adversely affect the rights of any Participant with respect to any
Award theretofore granted shall not to that extent be effective without the consent of the affected Participant.

 

14. General
Provisions.

 

14.1. Forfeiture
and Surrender Events. The Committee may specify in an Award Agreement that the Participant’s rights, payments and benefits with
respect to an Award shall be subject to reduction, cancellation, surrender for nil consideration, forfeiture or recoupment upon the occurrence
of certain events, in addition to applicable vesting conditions of an Award. Such events may include, without limitation, breach of non-competition,
non-solicitation, confidentiality, or other restrictive covenants that are contained in the Award Agreement or otherwise applicable to
the Participant, a termination of the Participant’s Continuous Service for Cause, or other conduct by the Participant that is detrimental
to the business or reputation of the Company and/or its Affiliates.

 

    19

     

    

 

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

 

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

 

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

 

14.5. Deferral
of Awards. The Committee may establish one or more programs under the Plan to permit selected Participants the opportunity to elect
to defer receipt of consideration upon exercise of an Award, satisfaction of performance criteria, or other event that absent the election
would entitle the Participant to payment or receipt of Class B Ordinary Shares or other consideration under an Award. The Committee may
establish the election procedures, the timing of such elections, the mechanisms for payments of, and accrual of interest or other earnings,
if any, on amounts, shares or other consideration so deferred, and such other terms, conditions, rules and procedures that the Committee
deems advisable for the administration of any such deferral program. All of such programs and procedures shall be consistent with the
rules of Section 409A of the Code.

 

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

 

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

 

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

 

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

 

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

 

    20

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

15. Effective
Date of Plan. The Plan shall become effective as of the Effective Date, but no Award shall be exercised (or, in the case of a share
Award, shall be granted) unless and until the Plan has been approved by the shareholders of the Company, which approval shall be within
twelve (12) months before or after the date the Plan is adopted by the Board.

 

16. Termination
or Suspension of the Plan. The Plan shall terminate automatically on October 26, 2032. No Award shall be granted pursuant to the Plan
after such date, but Awards theretofore granted may extend beyond that date. The Board may suspend or terminate the Plan at any earlier
date pursuant to Section 13.1 hereof, provided any such suspension or termination is consistent with the provisions of Section
409A of the Code. No Awards may be granted under the Plan while the Plan is suspended or after it is terminated.

 

17. Choice
of Law. Except to the extent governed by Federal law, the laws of Ireland shall govern all questions concerning the construction,
validity and interpretation of this Plan, without regard to conflict of law rules.

 

 

21Exhibit 10.15

 

SHARE OPTION AGREEMENT

 

This Share Option Agreement
(this “Agreement”) is made and entered into as of the Grant Date specified below by and between Brera Holdings Limited,
an Irish private company limited by shares (the “Company”), and the participant named below (the “Participant”).

 

	
    Name of Participant:
	 
	Grant Date:	 
	Expiration Date:	 
	Exercise Price:	 
	Number of Option Shares:	 
	Type of Option:	 
	Vesting Start Date:	 
	Vesting Schedule:	 

 

1. Grant
of Option.

 

1.1. Grant.
The Company hereby grants to the Participant an option (the “Option”) to purchase the total number of Class B Ordinary
Shares of the Company equal to the number of Option Shares set forth above, at the Exercise Price set forth above. The Option is being
granted pursuant to the terms of the Company’s 2022 Equity Incentive Plan (the “Plan”). Capitalized terms used
but not defined herein will have the meanings ascribed to them in the Plan.

 

1.2. Type
of Option. The Option is intended to be either a Non-qualified Share Option (i.e., not an Incentive Share Option) or an Incentive
Share Option within the meaning of Section 422 of the Code, as indicated above, although the Company makes no representation or guarantee
that the Option will qualify as an Incentive Share Option. To the extent that the aggregate Fair Market Value (determined on the Grant
Date) of the Class B Ordinary Shares with respect to which Incentive Share Options are exercisable for the first time by the Participant
during any calendar year (under all plans of the Company and its Affiliates) exceeds $100,000, the Option or portion thereof which exceeds
such limit (according to the order in which they were granted) shall be treated as a Non-qualified Share Option.

 

1.3. Consideration.
The grant of the Option is made in consideration of the services to be rendered by the Participant to the Company and is subject to the
terms and conditions of the Plan.

 

2. Exercise
Period; Vesting.

 

2.1. Vesting
Schedule. The Option will become vested and exercisable in accordance with the Vesting Schedule specified above until the Option is
100% vested. The unvested portion of the Option will not be exercisable and shall automatically lapse on or after the Participant’s
termination of Continuous Service.

 

2.2. Expiration.
The Option will expire and automatically lapse on the Expiration Date set forth above, or earlier as provided in this Agreement or the
Plan.

 

3. Termination
of Continuous Service.

 

3.1. Termination
for Reasons Other Than Cause, Death or Disability. If the Participant’s Continuous Service is terminated for any reason other
than Cause, death or Disability, the Participant may exercise the vested portion of the Option, but only within such period of time ending
on the earlier of (a) the date that is three months following the termination of the Participant’s Continuous Service or (b) the
Expiration Date.

 

     

     

    

 

3.2. Termination
for Cause. If the Participant’s Continuous Service is terminated for Cause, the Option (whether vested or unvested) shall immediately
terminate, automatically lapse and cease to be exercisable.

 

3.3. Termination
Due to Disability. If the Participant’s Continuous Service terminates as a result of the Participant’s Disability, the
Participant may exercise the vested portion of the Option, but only within such period of time ending on the earlier of (a) the date that
is 12 months following the Participant’s termination of Continuous Service or (b) the Expiration Date.

 

3.4. Termination
Due to Death. If the Participant’s Continuous Service terminates as a result of the Participant’s death, or the Participant
dies within a period following termination of the Participant’s Continuous Service during which the vested portion of the Option
remains exercisable, the vested portion of the Option may be exercised by the Participant’s estate, by a person who acquired the
proven right to exercise the Option by bequest or inheritance or by the person designated to exercise the Option upon the Participant’s
death, but only within the time period ending on the earlier of (a) the date that is 12 months following the Participant’s death
or (b) the Expiration Date.

 

3.5. Termination
of Director Agreement before IPO. If the Participant is a member of the board of directors of the Company and has entered into an
Independent Director Agreement with the Company that provides that such Option will begin vesting on the date that the Company’s
registration statement relating to its initial public offering is declared effective by the U.S. Securities and Exchange Commission and
such Independent Director Agreement is terminated by the Company or the Participant prior to the effective date of such registration statement,
then the Option granted hereunder shall automatically terminate and lapse and the Participant shall no longer have any rights hereunder.

 

3.6. Extension
of Termination Date. If following the Participant’s termination of Continuous Service for any reason the exercise of the Option
is prohibited because the exercise of the Option would violate the registration requirements under the Securities Act or any other state
or federal securities law or the rules of any securities exchange or interdealer quotation system, then the expiration of the Option shall
be tolled until the date that is thirty (30) days after the end of the period during which the exercise of the Option would be in violation
of such registration or other securities requirements provided always that such tolling shall not be to a date which is more than 7 years
from the Grant Date.

 

4. Manner
of Exercise.

 

4.1. Election
to Exercise. To exercise the Option, the Participant (or in the case of exercise after the Participant’s death or incapacity,
the Participant’s proven executor, administrator, heir or legatee, as the case may be) must deliver to the Company an executed share
option exercise agreement in the form attached hereto as Exhibit A, or as is approved by the Committee from time to time (the “Exercise
Agreement”), which shall set forth, inter alia: (a) the Participant’s election to exercise the Option; (b) the
number of Class B Ordinary Shares being purchased; (c) any restrictions imposed on the shares; and (d) any representations, warranties
and agreements regarding the Participant’s investment intent and access to information as may be required by the Company to comply
with applicable securities laws. If someone other than the Participant exercises the Option, then such person must submit documentation
reasonably acceptable to the Company verifying that such person has the legal right to exercise the Option.

 

    2

     

    

 

4.2. Payment
of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted
by applicable statutes and regulations, either: (a) in cash or by certified or bank check at the time the Option is exercised; (b) by
delivery to the Company of other Class B Ordinary Shares, duly endorsed for transfer to the Company, with a Fair Market Value on the date
of delivery equal to the Exercise Price (or portion thereof) due for the number of shares being acquired, or by means of attestation whereby
the Participant identifies for delivery specific shares that have a Fair Market Value on the date of attestation equal to the Exercise
Price (or portion thereof) and receives a number of shares equal to the difference between the number of shares thereby purchased and
the number of identified attestation shares (a “Share for Share Exchange”); (c) through a “cashless exercise
program” established with a broker; (d) by reduction in the number of shares otherwise deliverable upon exercise of such Option
with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise; (e) by any combination of the foregoing methods;
or (f) in any other form of legal consideration that may be acceptable to the Committee.

 

4.3. Withholding.
Prior to the issuance of shares upon the exercise of the Option, the Participant must make arrangements satisfactory to the Company to
pay or provide for any applicable Irish, U.S. federal, state and local withholding obligations of the Company. The Participant may satisfy
any Irish, U.S. federal, state or local tax withholding obligation relating to the exercise of the Option by any of the following means:
(a) tendering a cash payment; (b) authorizing the Company to withhold Class B Ordinary Shares from the Class B Ordinary Shares otherwise
issuable to the Participant as a result of the exercise of the Option; provided, however, that no Class B Ordinary Shares are withheld
with a value exceeding the minimum amount of tax required to be withheld by law; or (c) delivering to the Company previously owned and
unencumbered Class B Ordinary Shares. The Company has the right to withhold from any compensation paid to a Participant.

 

4.4. Issuance
of Shares. Provided that the Exercise Agreement and payment are in form and substance satisfactory to the Company, the Company shall
issue the Class B Ordinary Shares registered in the name of the Participant, the Participant’s authorized assignee, or the Participant’s
legal representative which shall be evidenced by share certificates representing the shares with the appropriate legends affixed thereto,
appropriate entry on the books of the Company or of a duly authorized transfer agent, or other appropriate means as determined by the
Company.

 

5. No
Right to Continued Service; No Rights as Shareholder. Neither the Plan nor this Agreement shall confer upon the Participant any employment
rights or any right to be retained in any position, as an Employee, Consultant or Director of the Company. Further, nothing in the Plan
or this Agreement shall be construed to limit the discretion of the Company to terminate the Participant’s Continuous Service at
any time, with or without Cause. The Participant shall not have any rights as a shareholder with respect to any Class B Ordinary Shares
subject to the Option prior to the date issuance or transfer of the relevant Class B Ordinary Shares to the Participant following the
exercise of the Option.

 

6. Transferability.
The Option is not transferable by the Participant other than to a designated beneficiary upon the Participant’s death or by will
or the laws of descent and distribution, and is exercisable during the Participant’s lifetime only by him or her. No assignment
or transfer of the Option, or the rights represented thereby, whether voluntary or involuntary, by operation of law or otherwise (except
to a designated beneficiary upon death by will or the laws of descent or distribution) will vest in the assignee or transferee any interest
or right herein whatsoever, but immediately upon such assignment or transfer the Option will terminate and become of no further effect.

 

7. Change
in Control. In the event of a Change in Control, the Committee may, in its discretion and upon at least ten (10) days’ advance
notice to the Participant, cancel the Option and pay to the Participant the value of the Option based upon the price per Class B Ordinary
Share received or to be received by other shareholders of the Company in the event. Notwithstanding the foregoing, if at the time of a
Change in Control the Exercise Price of the Option equals or exceeds the price paid for a Class B Ordinary Share in connection with the
Change in Control, the Committee may cancel the Option without the payment of consideration therefor.

 

    3

     

    

 

8. Adjustments.
The Class B Ordinary Shares subject to the Option may be adjusted or terminated in any manner as contemplated by Section 11 of the Plan.

 

9. Tax
Liability and Withholding. Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll
tax, or other tax-related withholding (“Tax-Related Items”), the ultimate liability for all Tax-Related Items is and
remains the Participant’s responsibility and the Company (a) makes no representations or undertakings regarding the treatment of
any Tax-Related Items in connection with the grant, vesting, or exercise of the Option or the subsequent sale of any shares acquired on
exercise; and (b) does not commit to structure the Option to reduce or eliminate the Participant’s liability for Tax-Related Items.

 

10. Qualification
as an Incentive Share Option. If this Option is an Incentive Share Option, the Participant understands that in order to obtain the
benefits of an Incentive Share Option, no sale or other disposition may be made of shares for which incentive share option treatment is
desired within one (1) year following the date of exercise of the Option or within two (2) years from the Grant Date. The Participant
understands and agrees that the Company shall not be liable or responsible for any additional tax liability the Participant incurs in
the event that the Internal Revenue Service for any reason determines that this Option does not qualify as an incentive stock option within
the meaning of the Code.

 

11. Disqualifying
Disposition. If this Option is an Incentive Share Option and the Participant disposes of the Class B Ordinary Shares prior to the
expiration of either two (2) years from the Grant Date or one (1) year from the date the shares are transferred to the Participant pursuant
to the exercise of the Option, the Participant shall notify the Company in writing within thirty (30) days after such disposition of the
date and terms of such disposition. The Participant also agrees to provide the Company with any information concerning any such dispositions
as the Company requires for tax purposes.

 

12. Compliance
with Law. The exercise of the Option and the issuance and transfer of Class B Ordinary Shares shall be subject to compliance by the
Company and the Participant with all applicable requirements of Irish, U.S. federal and state securities laws and with all applicable
requirements of any stock exchange on which the Company’s Class B Ordinary Shares may be listed. No Class B Ordinary Shares shall
be issued pursuant to this Option unless and until any then applicable requirements of Irish, state or U.S. federal laws and regulatory
agencies have been fully complied with to the satisfaction of the Company and its counsel. The Participant understands that the Company
is under no obligation to register the Class B Ordinary Shares with the Securities and Exchange Commission, any state securities commission
or any stock exchange to effect such compliance.

 

13. Notices.
Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Secretary of the Company
at the Company’s registered office. Any notice required to be delivered to the Participant under this Agreement shall be in writing
and addressed to the Participant at the Participant’s address as shown in the records of the Company. Either party may designate
another address in writing (or by such other method approved by the Company) from time to time.

 

14. Governing
Law. This Agreement will be construed and interpreted in accordance with the laws of Ireland without regard to conflict of law principles.

 

15. Interpretation.
Any dispute regarding the interpretation of this Agreement shall be submitted by the Participant or the Company to the Committee for review.
The resolution of such dispute by the Committee shall be final and binding on the Participant and the Company.

 

    4

     

    

 

16. Options
Subject to Plan. This Agreement is subject to the Plan as approved by the Company’s shareholders. The terms and provisions of
the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term
or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

 

17. Successors
and Assigns. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit
of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding
upon the Participant and the Participant’s beneficiaries, executors, administrators and the person(s) to whom the Option may be
transferred by will or the laws of descent or distribution.

 

18. Severability.
The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any
other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to
the extent permitted by law.

 

19. Discretionary
Nature of Plan. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion.
The grant of the Option in this Agreement does not create any contractual right or other right to receive any Options or other Awards
in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the
Plan shall not constitute a change or impairment of the terms and conditions of the Participant’s employment with the Company.

 

20. Amendment.
The Committee has the right to amend, alter, suspend, discontinue or cancel the Option, prospectively or retroactively; provided, that,
no such amendment shall adversely affect the Participant’s material rights under this Agreement without the Participant’s
consent.

 

21. No
Impact on Other Benefits. The value of the Participant’s Option is not part of his or her normal or expected compensation for
purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.

 

22. Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one
and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable
document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document,
will have the same effect as physical delivery of the paper document bearing an original signature.

 

23. Acceptance.
The Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. The Participant has read and understands the terms
and provisions thereof, and accepts the Option subject to all of the terms and conditions of the Plan and this Agreement. The Participant
acknowledges that there may be adverse tax consequences upon exercise of the Option or disposition of the underlying shares and that the
Participant should consult a tax advisor prior to such exercise or disposition.

 

[SIGNATURE PAGE FOLLOWS]

 

    5

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the Grant Date set forth above.

 

	
    
	COMPANY:
	 	 
	 	Brera Holdings Limited
	 	 
	 	By:	
	 	 	Name:	   
	 	 	Title:	 

 

	 	Address: 	
	 	 	 
	 	 	 

 

	 	PARTICIPANT:
	 	 
	 	 
	 	(Signature)
	 	 
	 	 
	 	(Name)

 

	 	Address: 	 
	 	 	        
	 	 	 

 

     

     

    

 

Exhibit A

 

SHARE OPTION EXERCISE AGREEMENT

 

This Share Option Exercise
Agreement (this “Exercise Agreement”) is made and entered into as of _______________ by and between Brera Holdings
Limited, an Irish private company limited by shares (the “Company”), and the purchaser named below (the “Purchaser”).
Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Brera Holdings Limited 2022 Equity Incentive
Plan (the “Plan”).

 

Purchaser Name: ________________________________________________________________________ 

 

Address: ______________________________________________________________________________ 

 

Social Security Number: ___________________________________________________________________

 

1. Option.
The Purchaser was granted an option (the “Option”) to purchase Class B Ordinary Shares pursuant to the terms of the
Plan and the Share Option Agreement between the Company and the Purchaser dated ________________, as follows:

 

Type of Option (check one):

 

____ Incentive Share Option

 

____ Non-qualified Share Option

 

Grant Date: ___________________________________

 

Number of Option shares: ________________________

 

Exercise Price per
share: _________________________

 

Expiration Date: ________________________________

 

2. Exercise
of Option. The Purchaser hereby elects to exercise the Option to purchase __________ Class B Ordinary Shares (“Shares”),
all of which are vested pursuant to the terms of the Share Option Agreement. The total Exercise Price for all of the Shares is ________
(Total Shares times Exercise Price per Share).

 

3. Payment
of the Exercise Price; Delivery of Required Documents. The Purchaser encloses payment in full of the total Exercise Price for the
Shares in the following form(s), as authorized by the Share Option Agreement (check and complete as appropriate):

 

____ In cash (by certified
or bank check) in the amount of $_____, receipt of which is acknowledged by the Company.

 

____ By delivery of ______
previously acquired Class B Ordinary Shares duly endorsed for transfer to the Company.

 

____ Through a Share for Share
Exchange (Contact Company CFO).

 

____ By a broker-assisted
cashless exercise (Contact Company CFO).

 

____ By reduction in the number
of Shares otherwise deliverable upon exercise with a Fair Market Value equal to the total Exercise Price (Contact Company CFO).

 

The Purchaser will deliver
any other documents that the Company requires.

 

    A-1

     

    

 

4. Tax
Withholding. The Purchaser authorizes payroll withholding and will make arrangements satisfactory to the Company to pay or provide
for any applicable Irish, U.S. federal, state and local withholding obligations of the Company. The Purchaser may satisfy any Irish, U.S.
federal, state or local tax withholding obligation relating to the exercise of the Option by any of the methods set forth in the Plan
or Share Option Agreement. The Purchaser understands that ownership of the Shares will not be transferred to the Purchaser until the total
Exercise Price and all applicable withholding taxes have been paid.

 

5. Notice
of Disqualifying Disposition. If the Option is an Incentive Share Option, the Purchaser agrees to promptly notify the Secretary at
the Company if he or she transfers any of the Shares purchased pursuant to this Exercise Agreement within one (1) year from the date of
exercise of the Option or within two (2) years from the Grant Date.

 

6. Tax
Consequences. The Purchaser understands that there may be adverse Irish, U.S. federal or state tax consequences as a result of his
or her purchase or disposition of the Shares. The Purchaser also acknowledges that he or she has been advised to consult with a tax advisor
in connection with the purchase or disposition of the Shares. The Purchaser is not relying on the Company for tax advice.

 

7. Compliance
with Law. The issuance and transfer of the Shares will be subject to, and conditioned upon compliance by the Company and the Purchaser
with, all applicable Irish, U.S. federal, state and local laws and regulations and all applicable requirements of any stock exchange or
automated quotation system on which the Shares may be listed or quoted at the time of such issuance or transfer.

 

8. Successors
and Assigns; Binding Effect. The Company may assign any of its rights under this Exercise Agreement. This Exercise Agreement will
be binding upon and inure to the benefit of the successors and assigns of the Company. This Exercise Agreement will be binding upon the
Purchaser and the Purchaser's heirs, executors, legal representatives, successors and assigns.

 

9. Governing
Law. This Exercise Agreement will be construed and interpreted in accordance with the laws of Ireland without regard to conflict of
law principles.

 

10. Severability.
The invalidity or unenforceability of any provision of this Exercise Agreement shall not affect the validity or enforceability of any
other provision, and each provision of this Exercise Agreement shall be severable and enforceable to the extent permitted by law.

 

11. Counterparts.
This Exercise Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute
one and the same instrument.

 

12. Notice.
Any notice required to be delivered to the Company under this Exercise Agreement shall be in writing and addressed to the Secretary of
the Company at the Company’s registered office. Any notice required to be delivered to the Purchaser under this Exercise Agreement
shall be in writing and addressed to the Purchaser at the Purchaser's address as set forth above. Either party may designate another address
in writing (or by such other method approved by the Company) from time to time.

 

13. Acknowledgement.
The Purchaser understands that he or she is purchasing the Shares pursuant to the terms and conditions of the Plan and the Share Option
Agreement, copies of which the Purchaser has read and understands.

 

    A-2

     

    

 

IN WITNESS WHEREOF,
the parties have executed this Exercise Agreement as of the date first above written.

 

	 	COMPANY:
	 	 	 
	 	Brera Holdings Limited
	 	 	 
	 	By:	                       
	 	Name:	 
	 	Title:	 
	 	 	 
	 	PURCHASER:
	 	 	 
	 	 	 
	 	[Name]

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