Document:

Exhibit 10.1

 

The Children’s Place, Inc.

Third Amended and Restated

2011 Equity Incentive Plan

 

     

     

    

 

 

TABLE OF CONTENTS

 

	1.	Purpose	1
	 	 	 
	2.	Definitions	1
	 	 	 
	3.	Effective Date; Duration	7
	 	 	 
	4.	Administration	7
	 	 	 
	5.	Grant of Awards; Shares Subject to the Plan; Limitations	9
	 	 	 
	6.	Eligibility	10
	 	 	 
	7.	Options	11
	 	 	 
	8.	Stock Appreciation Rights	14
	 	 	 
	9.	Restricted Stock and Restricted Stock Units	16
	 	 	 
	10.	Other Stock-Based Awards	19
	 	 	 
	11.	Performance Compensation Awards	20
	 	 	 
	12.	Changes in Capital Structure and Similar Events	22
	 	 	 
	13.	Effect of Change in Control	24
	 	 	 
	14.	Amendments and Termination	24
	 	 	 
	15.	General	25

 

    i 

     

    

  

The Children’s Place, Inc.

Third Amended and Restated

2011 Equity Incentive Plan

 

1.          Purpose.
 The purpose of The Children’s Place, Inc. First Amended and Restated 2011 Equity Incentive Plan is to provide a means
through which the Company and its Affiliates may attract and retain key personnel, including the services of experienced and knowledgeable
non-executive directors, and to provide a means whereby directors, officers, employees, consultants and advisors (and prospective
directors, officers, employees, consultants and advisors) of the Company and its Affiliates can acquire and maintain an equity
interest in the Company, or be paid incentive compensation, including but not limited to incentive compensation measured by reference
to the value of Common Stock or the results of operations of the Company, thereby strengthening their commitment to the welfare
of the Company and its Affiliates and aligning their interests with those of the Company’s shareholders. This Plan document
is an omnibus document which includes, in addition to the Plan, separate sub-plans (“Sub Plans”) that permit
offerings of grants to employees of certain Designated Foreign Subsidiaries. Offerings under the Sub Plans may be made in particular
locations outside the United States of America and shall comply with local laws applicable to offerings in such foreign jurisdictions.
The Plan shall be a separate and independent plan from the Sub Plans, but the total number of shares of Common Stock authorized
to be issued under the Plan applies in the aggregate to both the Plan and the Sub Plans.

 

2.          Definitions.
 The following definitions shall be applicable throughout the Plan.

 

(a)          “Affiliate”
means (i) any person or entity that directly or indirectly controls, is controlled by or is under common control with the Company
and/or (ii) to the extent provided by the Committee, any person or entity in which the Company has a significant interest. The
term “control” (including, with correlative meaning, the terms “controlled by” and “under common
control with”), as applied to any person or entity, means the possession, directly or indirectly, of the power to direct
or cause the direction of the management and policies of such person or entity, whether through the ownership of voting or other
securities, by contract or otherwise.

 

(b)          “Award”
means, individually or collectively, any Incentive Stock Option, Nonqualified Stock Option, Stock Appreciation Right, Restricted
Stock, Restricted Stock Unit, Other Stock-Based Award and Performance Compensation Award granted under the Plan. For purposes of
Section 5(c) of the Plan, “Award” and “Award under the Plan” shall also mean any stock-based Award granted
under a Prior Plan and outstanding on the Effective Date.

 

(c)          “Beneficial
Owner” has the meaning set forth in Rule 13d-3 promulgated under Section 13 of the Exchange Act.

 

(d)          “Board”
means the Board of Directors of the Company.

 

     

     

    

  

(e)          “Cause”
means, in the case of a particular Award, unless the applicable Award agreement states otherwise, (i) the Company or an Affiliate
having “cause” to terminate a Participant’s employment or service, as defined in any employment, consulting,
change in control, severance or any other agreement between the Participant and the Company or an Affiliate in effect at the time
of such termination or (ii) in the absence of any such employment, consulting, change in control, severance or other agreement
(or the absence of any definition of “cause” or term of similar import therein), (A) the Participant has failed to
reasonably perform his or her duties to the Company, or has failed to follow the lawful instructions of the Board or his or her
direct superiors, in each case, other than as a result of his or her incapacity due to physical or mental illness or injury, and
such failure has resulted in, or could reasonably be expected to result in, harm (whether financially, reputationally or otherwise)
to the Company or an Affiliate, (B) the Participant has engaged in conduct harmful (whether financially, reputationally or
otherwise) to the Company or an Affiliate, (C) the Participant having been convicted of, or plead guilty or no contest to,
a felony or any crime involving as a material element fraud or dishonesty or moral turpitude, (D) the willful misconduct or
gross neglect of the Participant that has resulted in or could reasonably be expected to result in harm (whether financially, reputationally
or otherwise) to the Company or an Affiliate, (E) the willful violation by the Participant of the written policies of the Company
or any of its Affiliates, that that has resulted in or could reasonably be expected to result in harm (whether financially, reputationally
or otherwise) to the Company or an Affiliate, (F) the Participant’s fraud or misappropriation, embezzlement or misuse of
funds or property belonging to the Company (other than good faith expense account disputes), (G) the Participant’s act of
personal dishonesty which involves personal profit in connection with the Participant’s employment or service with the Company
or an Affiliate, (H) the willful breach by the Participant of fiduciary duty owed to the Company or an Affiliate, or (I) in
the case of a Participant who is a Non-Employee Director, the Participant engaging in any of the activities described in clauses
(A) through (H) above; provided, however, that the Participant shall be provided a 10-day period to cure
any of the events or occurrences described in the immediately preceding clause (A) hereof, to the extent capable of cure during
such 10-day period. Any determination of whether Cause exists shall be made by the Committee in its sole discretion.

 

(f)           “Change
in Control” shall, in the case of a particular Award, be deemed to occur upon:

 

(i)          the
acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act (a
“Person”)) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act)
of more than 50% (on a fully diluted basis) of either (A) the then outstanding shares of Common Stock taking into account
as outstanding for this purpose such Common Stock issuable upon the exercise of options or warrants, the conversion of convertible
stock or debt, and the exercise of any similar right to acquire such Common Stock (the “Outstanding Company Common Stock”)
or (B) 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: (I) any acquisition by the Company,
or (II) any acquisition by any employee benefit plan sponsored or maintained by the Company;

 

(ii)         individuals
who, during any consecutive 12-month period, constitute the Board (the “Incumbent Directors”) cease for any
reason to constitute at least a majority of the Board, provided, that any person becoming a director subsequent to the date
hereof, whose election or nomination for election 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 written objection to such nomination) shall be an Incumbent Director; provided, however,
that no individual initially elected or nominated as a director of the Company as a result of an actual or threatened election
contest, as such terms are used in Rule 14a-12 of Regulation 14A promulgated under the Exchange Act, with respect to
directors or as a result of any other actual or threatened solicitation of proxies or consents by or on behalf of any person other
than the Board shall be deemed to be an Incumbent Director;

 

(iii)        
the approval by the shareholders of the Company of a plan of complete dissolution or liquidation of the Company; or

 

     2

     

    

  

(iv)        
the consummation of a reorganization, recapitalization, merger, consolidation, statutory share exchange or similar form of corporate
transaction involving the Company (a “Business Combination”), or sale, transfer or other disposition of all
or substantially all of the business or assets of the Company to an entity that is not an Affiliate of the Company (a “Sale”),
that in each case requires the approval of the Company’s stockholders (whether for such Business Combination or Sale or the
issuance of securities in such Business Combination or Sale), unless immediately following such Business Combination or Sale: (A)
more than 50% of the total voting power of (x) the entity resulting from such Business Combination or the entity which has acquired
all or substantially all of the business or assets of the Company in a Sale (in either case, the “Surviving Company”),
or (y) if applicable, the ultimate parent entity that directly or indirectly has beneficial ownership of sufficient voting securities
eligible to elect a majority 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 Sale (or, if applicable, is represented by shares into which the Outstanding Company Voting Securities
were converted pursuant to such Business Combination or Sale), 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 or Sale, (B) 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 more than 50% of the total voting
power of the outstanding voting securities eligible to elect 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) and (C) 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 or Sale were Board members at the time of the Board’s approval
of the execution of the initial agreement providing for such Business Combination or Sale.

 

(g)          “Code”
means the Internal Revenue Code of 1986, as amended, and any successor thereto. Reference in the Plan to any section of the Code
shall be deemed to include any regulations or other interpretative guidance under such section, and any amendments or successor
provisions to such section, regulations or guidance.

 

(h)          “Committee”
means the Compensation Committee of the Board or subcommittee thereof if required with respect to actions taken to obtain the exception
for performance-based compensation under Section 162(m) of the Code or to comply with Rule 16b-3 of the Exchange Act in respect
of Awards or, if no such Compensation Committee or subcommittee thereof exists, the Board.

 

(i)          “Common
Stock” means the common stock, par value $0.10 per share, of the Company (and any stock or other securities into which
such common stock may be converted or into which it may be exchanged).

 

(j)          “Company”
means The Children’s Place, Inc., a Delaware corporation, and any successor thereto.

 

(k)          “Designated
Foreign Subsidiaries” means all Affiliates organized under the laws of any jurisdiction or country other than the United
States of America that may be designated by the Board or the Committee from time to time.

 

     3

     

    

 

(l)           “Disability”
means, unless in the case of a particular Award the applicable Award agreement states otherwise, the Company or an Affiliate having
cause to terminate a Participant’s employment or service on account of “disability,” as defined in any then-existing
employment, consulting, change in control, severance or other agreement between the Participant and the Company or an Affiliate
or, in the absence of such an employment, consulting, change in control, severance or other agreement (or in the absence of any
definition of “disability” or term of similar import therein), a Participant’s total disability as defined below
and (to the extent required by Code Section 409A) determined in a manner consistent with Code Section 409A and the regulations
thereunder:

 

(i)          The
Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental
impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months.

 

(ii)         A
Participant will be deemed to have suffered a Disability if determined to be totally disabled by the Social Security Administration.
In addition, the Participant will be deemed to have suffered a Disability if determined to be disabled in accordance with a disability
insurance program maintained by the Company.

 

(m)         “Effective
Date” means the date of the annual shareholder meeting at which the Plan is approved by the shareholders.

 

(n)          “Eligible
Director” means a person who is (i) a “non-employee director” within the meaning of Rule 16b-3
under the Exchange Act and (ii) an “outside director” within the meaning of Section 162(m) of the Code and
(iii) an “independent director” under the rules of the NASDAQ or any other securities exchange or inter-dealer quotation
system on which the Common Stock is listed or quoted, or a person meeting any similar requirement under any successor rule or regulation.

 

(o)          “Eligible
Person” means any (i) individual employed by the Company or an Affiliate who satisfies all of the requirements of
Section 6 of the Plan; provided, however, that no such employee covered by a collective bargaining agreement
shall be an Eligible Person unless and to the extent that such eligibility is set forth in such collective bargaining agreement
or in an agreement or instrument relating thereto; (ii) director or officer of the Company or an Affiliate; (iii) consultant
or advisor to the Company or an Affiliate who may be offered securities registrable on Form S-8 under the Securities Act;
or (iv) any prospective employees, directors, officers, consultants or advisors who have accepted offers of employment or consultancy
from the Company or its Affiliates (and would satisfy the provisions of clauses (i) through (iii) above once he or she begins employment
with or providing services to the Company or its Affiliates).

 

(p)          “Exchange
Act” means the Securities Exchange Act of 1934, as amended, and any successor thereto. Reference in the Plan to any section
of (or rule promulgated under) the Exchange Act shall be deemed to include any rules, regulations or other interpretative guidance
under such section or rule, and any amendments or successor provisions to such section, rules, regulations or guidance.

 

(q)          “Exercise
Price” has the meaning given such term in Section 7(b) of the Plan.

 

(r)           “Fair
Market Value” means, on a given date, (i) if the Common Stock is listed on a national securities exchange, the closing
sales price of the Common Stock reported on the primary exchange on which the Common Stock is listed and traded on such date, or,
if there is no such sale on that date, then on the last preceding date on which such a sale was reported; (ii) if the Common
Stock is not listed on any national securities exchange but is quoted in an inter-dealer quotation service on a last sale basis,
the average between the closing bid price and ask price reported on such date, or, if there is no such sale on that date, then
on the last preceding date on which a sale was reported; (iii) if Fair Market Value cannot be determined under clause (i) or (ii)
above, or if the Committee determines in its sole discretion that the shares of Common Stock are too thinly traded for Fair Market
Value to be determined pursuant to clause (i) or (ii), the fair market value as determined in good faith by the Committee in its
sole discretion; or (iv) if the Common Stock is not listed on a national securities exchange or quoted in an inter-dealer
quotation service on a last sale basis, the amount determined by the Committee in good faith to be the fair market value of the
Common Stock.

 

     4

     

    

  

(s)          “Good
Reason” shall mean the occurrence of any of the following without the Participant’s prior written consent: (i)
a material reduction in the Participant’s then current base salary or target bonus percentage, (ii) a material diminution
of the Participant’s duties or responsibilities, (iii) the assignment to the Participant of duties or responsibilities which
are materially inconsistent with the Participant’s previous duties or responsibilities, or (iv) relocation of the Participant’s
principal work location to a location more than thirty (30) miles from the Participant’s previous principal work location;
provided, however, that no such occurrence shall constitute Good Reason unless the Participant provides the Company with written
notice of the matter within thirty (30) days after the Participant first has knowledge of the matter and, in the case of clauses
(i), (ii) or (iii) hereof, the Company fails to cure such matter within ten (10) days after its receipt of such notice.

 

(t)          “Immediate
Family Members” shall have the meaning set forth in Section 15(b).

 

(u)          “Incentive
Stock Option” means an Option which is designated by the Committee as an incentive stock option as described in Section 422
of the Code and otherwise meets the requirements set forth in the Plan.

 

(v)         “Indemnifiable
Person” shall have the meaning set forth in Section 4(f) of the Plan.

 

(w)        
“Involuntary Termination” shall mean (i) the involuntary termination of the Participant’s employment with
Company or any of its subsidiaries (other than for Cause, death or Disability) or (ii) the Participant’s resignation of employment
with Company or any of its subsidiaries for Good Reason.

 

(x)          “NASDAQ”
means the NASDAQ Stock Market.

 

(y)          “Negative
Discretion” shall mean the discretion authorized by the Plan to be applied by the Committee to eliminate or reduce the
size of a Performance Compensation Award consistent with Section 162(m) of the Code.

 

(z)          “Nonqualified
Stock Option” means an Option which is not designated by the Committee as an Incentive Stock Option.

 

(aa)         “Non-Employee
Director” means a member of the Board who is not an employee of the Company or any Affiliate.

 

(bb)        “Option”
means an Award granted under Section 7 of the Plan.

 

(cc)        “Option
Period” has the meaning given such term in Section 7(c) of the Plan.

 

(dd)        “Other
Stock-Based Award” means an Award granted under Section 10 of the Plan.

 

(ee)         “Participant”
means an Eligible Person who has been selected by the Committee to participate in the Plan and to receive an Award pursuant to
Section 6 of the Plan.

 

     5

     

    

  

(ff)         “Performance
Compensation Award” shall mean any Award designated by the Committee as a Performance Compensation Award pursuant to
Section 11 of the Plan.

 

(gg)        “Performance
Criteria” shall mean 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.

 

(hh)        “Performance
Formula” shall mean, for a Performance Period, the one or more objective formulae 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.

 

(ii)          “Performance
Goals” shall mean, for a Performance Period, the one or more goals established by the Committee for the Performance Period
based upon the Performance Criteria.

 

(jj)          “Performance
Period” shall mean the one or more periods of time of not less than 12 months, 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.

 

(kk)        “Permitted
Transferee” shall have the meaning set forth in Section 15(b) of the Plan.

 

(ll)          “Person”
has the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof,
except that such term shall not include (i) the Company or any of its subsidiaries, (ii) a trustee or other fiduciary
holding securities under an employee benefit plan of the Company or any of its Affiliates, (iii) an underwriter temporarily
holding securities pursuant to an offering of such securities, or (iv) a corporation owned, directly or indirectly, by the
stockholders of the Company in substantially the same proportions as their ownership of Common Stock of the Company.

 

(mm)       “Plan”
means this The Children’s Place, Inc. 2011 Equity Incentive Plan.

 

(nn)        “Prior
Plan” shall mean, as amended from time to time, each of the Amended and Restated 2005 Equity Incentive Plan of The Children’s
Place Retail Stores, Inc. and the 1997 Stock Option Plan of The Children’s Place Retail Stores, Inc.

 

(oo)        “Released
Unit” shall have the meaning assigned to it in Section 9(e).

 

(pp)        “Restricted
Period” means the period of time determined by the Committee during which an Award or a portion thereof is subject to
restrictions or, as applicable, the period of time within which performance is measured for purposes of determining whether an
Award has been earned.

 

(qq)        “Restricted
Stock” means Common Stock, subject to certain specified restrictions (including, without limitation, a requirement that
the Participant remain continuously employed or provide continuous services for a specified period of time), granted under Section
9 of the Plan.

 

(rr)          “Restricted
Stock Unit” means an unfunded and unsecured promise to deliver shares of Common Stock, cash, other securities or other
property, subject to certain restrictions (including, without limitation, a requirement that the Participant remain continuously
employed or provide continuous services for a specified period of time), granted under Section 9 of the Plan.

 

     6

     

    

  

(ss)        “Retirement”
means a voluntary termination of employment or service with the Company and all Affiliates by a Participant on or after the Participant’s
Retirement Age (other than any such termination effective on or after any time that the Company has grounds to terminate the Participant’s
employment or service for Cause (assuming for such purpose that no cure period were available)).

 

(tt)          “Retirement
Age” means, unless determined otherwise by the Committee, attainment of age 65.

 

(uu)        “SAR
Period” has the meaning given such term in Section 8(c) of the Plan.

 

(vv)        “Securities
Act” means the Securities Act of 1933, as amended, and any successor thereto. Reference in the Plan to any section of
(or rule promulgated under) the Securities Act shall be deemed to include any rules, regulations or other interpretative guidance
under such section or rule, and any amendments or successor provisions to such section, rules, regulations or guidance.

 

(ww)      “Stock
Appreciation Right” or “SAR” means an Award granted under Section 8 of the Plan.

 

(xx)         “Strike
Price” has the meaning given such term in Section 8(b) of the Plan.

 

(yy)        “Substitute
Award” has the meaning given such term in Section 5(e).

 

(zz)         “Sub
Plans” has the meaning given such term in Section 1.

 

3.          Effective
Date; Duration.  The Plan shall be effective as of the Effective Date. The expiration date of the Plan, on and after which
date no Awards may be granted hereunder, shall be the tenth anniversary of the Effective Date; provided, however,
that such expiration shall not affect Awards then outstanding, and the terms and conditions of the Plan shall continue to apply
to such Awards.

 

4.          Administration.
 (a) The Committee shall administer the Plan. The majority of the members of the Committee shall constitute a quorum. The acts
of a majority of the members present at any meeting at which a quorum is present or acts approved in writing by a majority of the
Committee shall be deemed the acts of the Committee. To the extent required to comply with the provisions of Rule 16b-3 promulgated
under the Exchange Act (if the Board is not acting as the Committee under the Plan) or necessary to obtain the exception for performance-based
compensation under Section 162(m) of the Code, or any exception or exemption under the rules of the NASDAQ or any other securities
exchange or inter-dealer quotation system on which the Common Stock is listed or quoted, as applicable, it is intended that each
member of the Committee shall, at the time he or she takes any action with respect to an Award under the Plan, be an Eligible Director.
However, the fact that a Committee member shall fail to qualify as an Eligible Director shall not invalidate any Award granted
or action taken by the Committee that is otherwise validly granted or taken under the Plan.

 

     7

     

    

  

(b)          Subject
to the provisions of the Plan and applicable law, the Committee shall have the sole and plenary authority, in addition to other
express powers and authorizations conferred on the Committee by the Plan, to: (i) designate Participants; (ii) determine
the type or types of Awards to be granted to a Participant; (iii) determine the number of shares of Common Stock to be covered
by, or with respect to which payments, rights, or other matters are to be calculated in connection with, Awards; (iv) determine
the terms and conditions of any Award; (v) determine whether, to what extent, and under what circumstances Awards may be settled
or exercised in cash, shares of Common Stock, other securities, other Awards or other property, or canceled, forfeited, or suspended
and the method or methods by which Awards may be settled, exercised, canceled, forfeited, or suspended; (vi) determine whether,
to what extent, and under what circumstances the delivery of cash, Common Stock, other securities, other Awards or other property
and other amounts payable with respect to an Award shall be deferred either automatically or at the election of the Participant
or of the Committee; (vii) 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; (viii) establish, amend,
suspend, or waive any rules and regulations and appoint such agents as the Committee shall deem appropriate for the proper administration
of the Plan; (ix) accelerate the vesting, delivery or exercisability of, payment for or lapse of restrictions on, or waive any
condition in respect of, Awards; and (x) make any other determination and take any other action that the Committee deems necessary
or desirable for the administration of the Plan.

 

(c)          Except
to the extent prohibited by applicable law or the applicable rules and regulations of any securities exchange or inter-dealer quotation
system on which the Common Stock is listed or quoted, the Committee may allocate all or any portion of its responsibilities and
powers to any one or more of its members and may delegate all or any part of its responsibilities and powers to any person or persons
selected by it. Any such allocation or delegation may be revoked by the Committee at any time. Without limiting the generality
of the foregoing, the Committee may delegate to one or more officers of the Company or any Affiliate the authority to act on behalf
of the Committee with respect to any matter, right, obligation, or election which is the responsibility of or which is allocated
to the Committee herein, and which may be so delegated as a matter of law, except for grants of Awards to persons (i) who are non-employee
members of the Board or otherwise are subject to Section 16 of the Exchange Act or (ii) who are, or who are reasonably
expected to be, “covered employees” for purposes of Section 162(m) of the Code.

 

(d)          The
Committee shall have the authority to amend the Plan (including by the adoption of appendices or subplans) and/or the terms and
conditions relating to an Award to the extent necessary to permit participation in the Plan by Eligible Persons who are located
outside of the United States on terms and conditions comparable to those afforded to Eligible Persons located within the United
States; provided, however, that no such action shall be taken without shareholder approval if such approval is necessary
to comply with any tax or regulatory requirement applicable to the Plan (including as necessary to prevent the Company from being
denied a tax deduction on account of Section 162(m) of the Code).

 

(e)          Unless
otherwise expressly provided in the Plan, all designations, determinations, interpretations, and other decisions under or with
respect to the Plan or any Award or any documents evidencing Awards granted pursuant to the Plan shall be within the sole discretion
of the Committee, may be made at any time and shall be final, conclusive and binding upon all persons or entities, including, without
limitation, the Company, any Affiliate, any Participant, any holder or beneficiary of any Award, and any shareholder of the Company.

 

     8

     

    

  

(f)          No
member of the Board, the Committee or any employee or agent of the Company (each such person, an “Indemnifiable Person”)
shall be liable for any action taken or omitted to be taken or any determination made with respect to the Plan or any Award hereunder
(unless constituting fraud or a willful criminal act or omission). Each Indemnifiable Person shall be indemnified and held harmless
by the Company against and from any loss, cost, liability, or expense (including attorneys’ fees) that may be imposed upon
or incurred by such Indemnifiable Person in connection with or resulting from any action, suit or proceeding to which such Indemnifiable
Person may be a party or in which such Indemnifiable Person may be involved by reason of any action taken or omitted to be taken
or determination made under the Plan or any Award agreement and against and from any and all amounts paid by such Indemnifiable
Person with the Company’s approval (not to be unreasonably withheld), in settlement thereof, or paid by such Indemnifiable
Person in satisfaction of any judgment in any such action, suit or proceeding against such Indemnifiable Person, and the Company
shall advance to such Indemnifiable Person any such expenses promptly upon written request (which request shall include an undertaking
by the Indemnifiable Person to repay the amount of such advance if it shall ultimately be determined as provided below that the
Indemnifiable Person is not entitled to be indemnified); provided that the Company shall have the right, at its own expense, to
assume and defend any such action, suit or proceeding and once the Company gives notice of its intent to assume the defense, the
Company shall have sole control over such defense with counsel of recognized standing of the Company’s choice. The foregoing
right of indemnification shall not be available to an Indemnifiable Person to the extent that a final judgment or other final adjudication
(in either case not subject to further appeal) binding upon such Indemnifiable Person determines that the acts or omissions or
determinations of such Indemnifiable Person giving rise to the indemnification claim resulted from such Indemnifiable Person’s
fraud or willful criminal act or omission or that such right of indemnification is otherwise prohibited by law or by the Company’s
Certificate of Incorporation or Bylaws. The foregoing right of indemnification shall not be exclusive of or otherwise supersede
any other rights of indemnification to which such Indemnifiable Persons may be entitled under the Company’s Certificate of
Incorporation or Bylaws, as a matter of law, individual indemnification agreement or contract or otherwise, or any other power
that the Company may have to indemnify such Indemnifiable Persons or hold them harmless.

 

(g)          Notwithstanding
anything to the contrary contained in the Plan, the Board may, in its sole discretion, at any time and from time to time, grant
Awards and administer the Plan with respect to such Awards. Any such actions by the Board shall be subject to the applicable rules
of the NASDAQ or any other securities exchange or inter-dealer quotation system on which the Common Stock is listed or quoted.
In any such case, the Board shall have all the authority granted to the Committee under the Plan.

 

5.          Grant
of Awards; Shares Subject to the Plan; Limitations. (a) The Committee may, from time to time, grant Options, Stock Appreciation
Rights, Restricted Stock, Restricted Stock Units, Other Stock-Based Awards and/or Performance Compensation Awards to one or more
Eligible Persons.

 

(b)          Awards
granted under the Plan shall be subject to the following limitations: (i) subject to Section 12 of the Plan and subsection
(e) below, no more than 2,715,000 shares of Common Stock may be delivered in the aggregate pursuant to Awards granted under the
Plan; (ii) subject to Section 12 of the Plan, no more than 750,000 shares of Common Stock may be subject to grants of Options
or SARs under the Plan to any single Participant during any calendar year; (iii) subject to Section 12 of the Plan, no more
than 2,000,000 shares of Common Stock may be delivered pursuant to the exercise of Incentive Stock Options granted under the Plan;
(iv) subject to Section 12 of the Plan, no more than 750,000 shares of Common Stock may be delivered in respect of Performance
Compensation Awards denominated in shares of Common Stock granted pursuant to Section 11 of the Plan to any Participant for
a single Performance Period (or with respect to each single fiscal year in the event a Performance Period extends beyond a single
fiscal year), or in the event such Performance Compensation Award is paid in cash, other securities, other Awards or other property,
no more than the Fair Market Value of 750,000 shares of Common Stock on the last day of the Performance Period to which such Award
relates; and (v) the maximum amount that can be paid to any individual Participant for a single fiscal year during a Performance
Period (or with respect to each single year in the event a Performance Period extends beyond a single year) pursuant to a Performance
Award denominated in cash described in Section 11(a) of the Plan shall be $10,000,000.

 

     9

     

    

  

(c)          Shares
of Common Stock shall be deemed to have been used in settlement of Awards whether or not they are actually delivered or the Fair
Market Value equivalent of such shares is paid in cash; provided, however, that if shares of Common Stock issued
upon exercise, vesting or settlement of an Award (other than an Option or a SAR), or shares of Common Stock owned by a Participant,
are surrendered or tendered to the Company (either directly or by means of attestation) in payment of any taxes required to be
withheld in respect of an Award, in each case, in accordance with the terms and conditions of the Plan and any applicable Award
agreement, such surrendered or tendered shares shall again become available for other Awards under the Plan; provided, further,
that in no event shall such shares increase the number of shares of Common Stock that may be delivered pursuant to Incentive Stock
Options granted under the Plan. In accordance with (and without limitation upon) the preceding sentence, if and to the extent all
or any portion of an Award under the Plan expires, terminates or is canceled or forfeited for any reason whatsoever without the
Participant having received any benefit therefrom, the shares covered by such Award or portion thereof shall again become available
for other Awards under the Plan. For purposes of the foregoing sentence, a Participant shall not be deemed to have received any
“benefit” (i) in the case of forfeited Restricted Stock by reason of having enjoyed voting rights and dividend rights
prior to the date of forfeiture or (ii) in the case of an Award canceled by reason of a new Award being granted in substitution
therefor. Notwithstanding anything to the contrary contained herein, for purposes of clarity: (1) any shares of Common Stock
that are tendered (by attestation or otherwise) or exchanged by a Participant or withheld by the Company (by net exercise or other
means) as full or partial payment of the exercise price of any Option or SAR shall not be available for subsequent Awards under
the Plan; (2) shares of Common Stock exchanged by a Participant or withheld by the Company or any Affiliate to satisfy the
tax withholding or tax payment obligations related to any Option or SAR shall not be available for subsequent Awards under the
Plan; (3) shares of Common Stock that are purchased or repurchased by the Company with Option proceeds shall not be available
for subsequent Awards under the Plan; and (4) all shares of Common Stock covered by an SAR, to the extent that it is exercised
and settled in shares of Common Stock, and whether or not shares of Common Stock are actually issued to the Participant upon exercise
of the SAR, shall be considered issued or transferred pursuant to the Plan.

 

(d)          Shares
of Common Stock delivered by the Company in settlement of Awards may be authorized and unissued shares, shares held in the treasury
of the Company, shares purchased on the open market or by private purchase, or a combination of the foregoing. Following the Effective
Date, no further Awards shall be granted under any Prior Plan.

 

(e)          Awards
may, in the sole discretion of the Committee, be granted under the Plan in assumption of, or in substitution for, outstanding Awards
previously granted by the Company or any Affiliate or an entity directly or indirectly acquired by the Company or with which the
Company combines (“Substitute Awards”). The number of shares of Common Stock underlying any Substitute Awards
shall be counted against the aggregate number of shares of Common Stock available for Awards under the Plan; provided, however,
that Substitute Awards issued in connection with the assumption of, or the substitution for, outstanding Awards previously granted
by the Company of an Affiliate or by an entity that is acquired by the Company or any Affiliate through a merger or acquisition
shall not be counted against the aggregate number of shares of Common Stock available for Awards under the Plan; provided,
further, that Substitute Awards issued in connection with the assumption of, or in substitution for, outstanding options
intended to qualify as “incentive stock options” within the meaning of Section 422 of the Code that were previously
granted by an entity that is acquired by the Company or any Affiliate through a merger or acquisition shall be counted against
the aggregate number of shares of Common Stock available for Awards of Incentive Stock Options under the Plan. Subject to applicable
stock exchange requirements, available shares under a stockholder approved plan of an entity directly or indirectly acquired by
the Company or with which the Company combines (as appropriately adjusted to reflect the acquisition or combination transaction)
may be used for Awards under the Plan and shall not reduce the number of shares of Common Stock available for delivery under the
Plan.

   

6.          Eligibility.
 Participation shall be limited to Eligible Persons who have entered into an Award agreement or who have received written notification
from the Committee, or from a person designated by the Committee, that they have been selected to participate in the Plan.

  

     10

     

    

 

7.          Options.
 (a) Generally. 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 7, and to such other conditions not inconsistent with the Plan
as may be reflected in the applicable Award agreement. All Options granted under the Plan shall be Nonqualified Stock Options unless
the applicable Award agreement expressly states that the Option is intended to be an Incentive Stock Option. Incentive Stock Options
shall be granted only to Eligible Persons who are employees of the Company and its Affiliates, and no Incentive Stock Option shall
be granted to any Eligible Person who is ineligible to receive an Incentive Stock Option under the Code. No Option shall be treated
as an Incentive Stock Option unless the Plan has been approved by the shareholders of the Company in a manner intended to comply
with the shareholder approval requirements of Section 422(b)(1) of the Code, provided that any Option intended to be
an Incentive Stock Option shall not fail to be effective solely on account of a failure to obtain such approval, but rather such
Option shall be treated as a Nonqualified Stock Option unless and until such approval is obtained. In the case of an Incentive
Stock Option, the terms and conditions of such grant shall be subject to and comply with such rules as may be prescribed by Section
422 of the Code. If for any reason an Option intended to be an Incentive Stock Option (or any portion thereof) shall not qualify
as an Incentive Stock Option, then, to the extent of such nonqualification, such Option or portion thereof shall be regarded as
a Nonqualified Stock Option appropriately granted under the Plan.

 

(b)          Exercise
Price. Except as otherwise provided by the Committee in the case of Substitute Awards, the exercise price (“Exercise
Price”) per share of Common Stock for each Option shall not be less than 100% of the Fair Market Value of such share
(determined as of the date of grant); provided, however, that in the case of an Incentive Stock Option granted to an employee who,
at the time of the grant of such Option, owns stock representing more than 10% of the voting power of all classes of stock of the
Company or any Affiliate, the Exercise Price per share shall be no less than 110% of the Fair Market Value per share on the date
of grant. Any modification to the Exercise Price of an outstanding Option shall be subject to the prohibition on repricing set
forth in Section 14(b).

 

(c)          Vesting
and Expiration. Options shall vest and become exercisable in such manner and on such date or dates determined by the Committee
and shall expire after such period, not to exceed ten years, as may be determined by the Committee (the “Option Period”);
provided that, Options shall be subject to a vesting period of not less than one year; provided, however, that the minimum vesting
period specified above will not apply: (1) to Options granted in payment of or exchange for other earned compensation (including
performance-based Awards), (2) upon a Change in Control and an involuntary termination of service of the Participant by the Company
(other than for Cause), (3) upon termination of service due to death, Disability or Retirement, (4) to a Substitute Award that
does not reduce the vesting period of the Option being replaced, or (5) to one or more Options and/ or SARs covering an aggregate
number of shares of Common Stock not in excess of five percent (5%) of the aggregate number of shares of Common Stock available
for Awards under Section 5(b)(i) of the Plan over the Plan’s term”; and it is further provided, that if the
Option Period (other than in the case of an Incentive Stock Option) would expire at a time when trading in the shares of Common
Stock is prohibited by the Company’s insider trading policy (or Company-imposed “blackout period”), the Option
Period shall be automatically extended until the 30th day following the expiration of such prohibition; provided,
however, that in no event shall the Option Period exceed five years from the date of grant in the case of an Incentive Stock
Option granted to a Participant who on the date of grant owns stock representing more than 10% of the voting power of all classes
of stock of the Company or any Affiliate; provided, further, that notwithstanding any vesting or exercisability dates
set by the Committee, the Committee may, in its sole discretion, accelerate the vesting and/or exercisability of any Option, which
acceleration shall not affect the terms and conditions of such Option other than with respect to vesting and/or exercisability
provided, that, the Committee may not accelerate the vesting of an Option if such acceleration would reduce the vesting period
to less than one year. Notwithstanding the foregoing, a Participant’s unvested Options shall immediately vest and become
exercisable upon such Participant’s termination of employment or service with the Company and its Affiliates due to death,
Disability or Retirement, or as provided in Section 13 hereof.

 

     11

     

    

  

Unless otherwise stated in the
applicable Award agreement, an Option shall expire earlier than the end of the Option Period in the following circumstances:

 

(i)          If
prior to the end of the Option Period, the Participant’s employment or service with the Company and all Affiliates is terminated
without Cause or by the Participant for any reason other than Retirement, the Option shall expire on the earlier of the last day
of the Option Period or the date that is 90 days after the date of such termination; provided, however, that any Participant whose
employment or service with the Company or any Affiliate is terminated and who is subsequently rehired or reengaged by the Company
or any Affiliate within 90 days following such termination and prior to the expiration of the Option shall not be considered to
have undergone a termination. In the event of a termination described in this clause (i), the Option shall remain exercisable by
the Participant until its expiration only to the extent the Option was exercisable at the time of such termination.

 

(ii)         If
the Participant dies or is terminated on account of Disability prior to the end of the Option Period and while still in the employ
or service of the Company or an Affiliate, or dies following a termination described in clause (i) above but prior to the expiration
of an Option, the Option shall expire on the earlier of the last day of the Option Period or the date that is one year after the
date of death or termination on account of Disability of the Participant, as applicable. In such event, the Option shall remain
exercisable by the Participant or his or her beneficiary determined in accordance with Section 15(g), as applicable, until its
expiration only to the extent the Option was exercisable by the Participant at the time of such event.

 

(iii)        If
the Participant ceases employment or service of the Company or any Affiliates due to a termination for Cause, the Option shall
expire immediately upon such cessation of employment or service.

   

(iv)        If
the Participant terminates by reason of Retirement prior to the end of the Option Period, the Option shall expire three years after
the date of termination, or, if earlier, at the end of the Option Period.

 

(v)         If
the Participant’s employment or service ceases on account of Disability at a time when the Participant has attained the age
and service requirements for Retirement, the Participant shall receive the better of the treatment under clause (ii) and clause
(iv) above.

 

(d)          Other
Terms and Conditions. Except as specifically provided otherwise in an Award agreement, each Option granted under the Plan shall
be subject to the following terms and conditions:

 

(i)          Each
Option or portion thereof that is exercisable shall be exercisable for the full amount or for any part thereof.

 

(ii)         Each
share of Common Stock purchased through the exercise of an Option shall be paid for in full at the time of the exercise. Each Option
shall cease to be exercisable, as to any share, when the Participant purchases the share or when the Option expires.

 

(iii)        Subject
to Section 15(b), Options shall not be transferable by the Participant except by will or the laws of descent and distribution and
shall be exercisable during the Participant’s lifetime only by the Participant.

 

     12

     

    

 

(iv)        At
the time of any exercise of an Option, the Committee may, in its sole discretion, require a Participant to deliver to the Committee
a written representation that the shares of Common Stock to be acquired upon such exercise are to be acquired for investment and
not for resale or with a view to the distribution thereof. Upon such a request by the Committee, delivery of such representation
prior to the delivery of any shares issued upon exercise of an Option shall be a condition precedent to the right of the Participant
or such other person to purchase any shares. In the event certificates for shares are delivered under the Plan with respect to
which such investment representation has been obtained, the Committee may cause a legend or legends to be placed on such certificates
to make appropriate reference to such representation and to restrict transfer in the absence of compliance with applicable federal
or state securities laws.

 

(e)          Method
of Exercise and Form of Payment. No shares of Common Stock shall be delivered pursuant to any exercise of an Option until payment
in full of the Exercise Price therefor is received by the Company and the Participant has paid to the Company an amount equal to
any Federal, state, local and non-U.S. income and employment taxes required to be withheld. Options which have become exercisable
may be exercised by delivery of written or electronic notice of exercise to the Company or its designee (including a third party
administrator), or telephonic instructions to the extent provided by the Committee, in accordance with the terms of the Option
accompanied by payment of the Exercise Price. The Exercise Price and all applicable required withholding taxes shall be payable
(i) in cash, check, cash equivalent and/or shares of Common Stock valued at the Fair Market Value at the time the Option is
exercised (including, pursuant to procedures approved by the Committee, by means of attestation of ownership of a sufficient number
of shares of Common Stock in lieu of actual delivery of such shares to the Company); provided, that such shares of Common
Stock are not subject to any pledge or other security interest; (ii) by such other method as the Committee may permit in its
sole discretion, including without limitation: (A) in other property having a fair market value on the date of exercise equal
to the Exercise Price and all applicable required withholding taxes or (B) if there is a public market for the shares of Common
Stock at such time, by means of a broker-assisted “cashless exercise” pursuant to which the Company is delivered (including
telephonically to the extent permitted by the Committee) a copy of irrevocable instructions to a stockbroker to sell the shares
of Common Stock otherwise deliverable upon the exercise of the Option and to deliver promptly to the Company an amount equal to
the Exercise Price and all applicable required withholding taxes or (C) by means of a “net exercise” procedure
effected by withholding the minimum number of shares of Common Stock otherwise deliverable in respect of an Option that are needed
to pay for the Exercise Price and all applicable required withholding taxes. Any fractional shares of Common Stock shall be settled
in cash.

 

(f)          Notification
upon Disqualifying Disposition of an Incentive Stock Option. Each Participant Awarded an Incentive Stock Option under the Plan
shall notify the Company in writing immediately after the date he makes a disqualifying disposition of any Common Stock acquired
pursuant to the exercise of such Incentive Stock Option. A disqualifying disposition is any disposition (including, without limitation,
any sale) of such Common Stock before the later of (A) two years after the date of grant of the Incentive Stock Option or
(B) one year after the date of exercise of the Incentive Stock Option. The Company may, if determined by the Committee and
in accordance with procedures established by the Committee, retain possession, as agent for the applicable Participant, of any
Common Stock acquired pursuant to the exercise of an Incentive Stock Option until the end of the period described in the preceding
sentence, subject to complying with any instruction from such Participant as to the sale of such Common Stock.

 

(g)          Compliance
With Laws, etc. Notwithstanding the foregoing, in no event shall a Participant be permitted to exercise an Option in a manner
which the Committee determines would violate the Sarbanes-Oxley Act of 2002, or any other applicable law or the applicable rules
and regulations of the Securities and Exchange Commission or the applicable rules and regulations of any securities exchange or
inter-dealer quotation service on which the Common Stock of the Company is listed or quoted.

 

     13

     

    

  

(h)          Incentive
Stock Option Grants to 10% Shareholders. Notwithstanding anything to the contrary in this Section 7, if an Incentive Stock
Option is granted to a Participant who owns stock representing more than ten percent of the voting power of all classes of stock
of the Company or of a Subsidiary or a parent of the Company, the Option Period shall not exceed five years from the date of grant
of such Option and the Option Price shall be at least 110 percent of the Fair Market Value (on the date of grant) of the shares
subject to the Option.

 

(i)          $100,000
Per Year Limitation for Incentive Stock Options. To the extent the aggregate Fair Market Value (determined as of the date of
grant) of shares of Common Stock for which Incentive Stock Options are exercisable for the first time by any Participant during
any calendar year (under all plans of the Company) exceeds $100,000, such excess Incentive Stock Options shall be treated as Nonqualified
Stock Options.

 

8.          Stock
Appreciation Rights. (a) Generally. Each SAR granted under the Plan shall be evidenced by an Award agreement. Each SAR
so granted shall be subject to the conditions set forth in this Section 8, and to such other conditions not inconsistent with
the Plan as may be reflected in the applicable Award agreement. Any Option granted under the Plan may include tandem SARs. The
Committee also may Award SARs to Eligible Persons independent of any Option.

 

(b)          Strike
Price. Except as otherwise provided by the Committee in the case of Substitute Awards, the strike price (“Strike Price”)
per share of Common Stock for each SAR shall not be less than 100% of the Fair Market Value of such share (determined as of the
date of grant). Notwithstanding the foregoing, a SAR granted in tandem with (or in substitution for) an Option previously granted
shall have a Strike Price equal to the Exercise Price of the corresponding Option. Any modification to the Strike Price of an outstanding
SAR shall be subject to the prohibition on repricing set forth in Section 14(b).

 

(c)          Vesting
and Expiration. A SAR granted in connection with an Option shall become exercisable and shall expire according to the
same vesting schedule and expiration provisions as the corresponding Option. Accordingly, a SAR shall vest and become exercisable
and shall expire in such manner and on such date or dates determined by the Committee and shall expire after such period, not to
exceed ten years, as may be determined by the Committee (the “SAR Period”); provided that a SAR shall be subject to
a vesting period of not less than one year; provided, however, that the minimum vesting period specified above will not apply:
(1) to SARs granted in payment of or exchange for other earned compensation (including performance-based Awards), (2) upon a Change
in Control and an involuntary termination of service of the Participant by the Company (other than for Cause), (3) upon termination
of service due to death, Disability or Retirement, (4) to a Substitute Award that does not reduce the vesting period of the SAR
being replaced, or (5) to one or more SARs and/or Options covering an aggregate number of shares of Common Stock not in excess
of five percent (5%) of the aggregate number of shares of Common Stock available for Awards under Section 5(b)(i) of the Plan over
the Plan’s term. Notwithstanding any vesting or exercisability dates set by the Committee, the Committee may, in its sole
discretion, accelerate the vesting and/or the exercisability of any SAR, which acceleration shall not affect the terms and conditions
of such SAR other than with respect to vesting and/or exercisability; provided that, the Committee may not accelerate the vesting
of a SAR if such acceleration would reduce the vesting period to less than one year. If the SAR Period would expire at a time when
trading in the shares of Common Stock is prohibited by the Company’s insider trading policy (or the Company-imposed “blackout
period”), the SAR Period shall be automatically extended until the 30th day following the expiration of such prohibition.
Notwithstanding the foregoing, a Participant’s unvested SARs shall immediately vest and become exercisable upon such Participant’s
termination of employment or service with the Company and its Affiliates due to death, Disability or Retirement, or as provided
in Section 13 hereof.

 

     14

     

    

  

Unless otherwise stated in the applicable
Award agreement, a SAR shall expire earlier than the end of the SAR Period in the following circumstances:

 

(i)          If
prior to the end of the SAR Period, the Participant’s employment or service with the Company and all Affiliates is terminated
without Cause or by the Participant for any reason other than Retirement, the SAR shall expire on the earlier of the last day of
the SAR Period or the date that is 90 days after the date of such termination; provided, however, that any Participant whose employment
or service with the Company or any Affiliate is terminated and who is subsequently rehired or reengaged by the Company or any Affiliate
within 90 days following such termination and prior to the expiration of the SAR shall not be considered to have undergone a termination.
In the event of a termination described in this clause (i), the SAR shall remain exercisable by the Participant until its expiration
only to the extent the SAR was exercisable at the time of such termination.

 

(ii)         If
the Participant dies or is terminated on account of Disability prior to the end of the SAR Period and while still in the employ
or service of the Company or an Affiliate, or dies following a termination described in clause (i) above but prior to the expiration
of a SAR, the SAR shall expire on the earlier of the last day of the SAR Period or the date that is one year after the date of
death or termination on account of Disability of the Participant, as applicable. In such event, the SAR shall remain exercisable
by the Participant or his or her beneficiary determined in accordance with Section 15(g), as applicable, until its expiration only
to the extent the SAR was exercisable by the Participant at the time of such event.

 

(iii)        If
the Participant ceases employment or service of the Company or any Affiliates due to a termination for Cause, the SAR shall expire
immediately upon such cessation of employment or service.

 

(iv)        If
the Participant terminates by reason of Retirement prior to the end of the SAR Period, the SAR shall expire three years after the
date of termination, or, if earlier, at the end of the SAR Period.

 

(v)         If
the Participant’s employment or service ceases on account of Disability at a time when the Participant has attained the age
and service requirements for Retirement, the Participant shall receive the better of the treatment under clause (ii) and clause
(iv) above.

 

d)          Method of Exercise. SARs which
have become exercisable may be exercised by delivery of written (or electronic notice or telephonic instructions to the extent
provided by the Committee) of exercise to the Company or its designee (including a third party administrator) in accordance with
the terms of the Award, specifying the number of SARs to be exercised and the date on which such SARs were Awarded. Notwithstanding
the foregoing, if on the last day of the Option Period (or in the case of a SAR independent of an Option, the SAR Period), the
Fair Market Value exceeds the Strike Price, the Participant has not exercised the SAR or the corresponding Option (if applicable),
and neither the SAR nor the corresponding Option (if applicable) has expired, such SAR shall be deemed to have been exercised by
the Participant on such last day and the Company shall make the appropriate payment therefor.

 

(e)          Payment.
Upon the exercise of a SAR, the Company shall pay to the Participant an amount equal to the number of shares subject to the SAR
that are being exercised multiplied by the excess, if any, of the Fair Market Value of one share of Common Stock on the exercise
date over the Strike Price, less an amount equal to any Federal, state, local and non-U.S. income and employment taxes required
to be withheld. The Company shall pay such amount in cash, in shares of Common Stock valued at Fair Market Value, or any combination
thereof, as determined by the Committee. Any fractional shares of Common Stock shall be settled in cash.

 

     15

     

    

  

(f)          Substitution
of SARs for Nonqualified Stock Options. The Committee shall have the authority in its sole discretion to substitute, without
the consent of the affected Participant or any holder or beneficiary of SARs, SARs settled in shares of Common Stock (or settled
in shares or cash in the sole discretion of the Committee) for outstanding Nonqualified Stock Options, provided that (i) the substitution
shall not otherwise result in a modification of the terms of any such Nonqualified Stock Option, (ii) the number of shares of Common
Stock underlying the substituted SARs shall be the same as the number of shares of Common Stock underlying such Nonqualified Stock
Options and (iii) the Strike Price of the substituted SARs shall be equal to the Exercise Price of such Nonqualified Stock Options.

 

9.          Restricted
Stock and Restricted Stock Units. (a) (i) Generally. Each grant of Restricted Stock and Restricted Stock Units shall
be evidenced by an Award agreement. Each Restricted Stock and Restricted Stock Unit grant shall be subject to the conditions set
forth in this Section 9, and to such other conditions not inconsistent with the Plan as determined by the Committee and may
be reflected in the applicable Award agreement. The Committee shall establish restrictions applicable to such Restricted Stock
and Restricted Stock Units, including the Restricted Period, and the time or times at which Restricted Stock or Restricted Stock
Units shall be granted or become vested. The Committee may in its sole discretion accelerate the vesting and/or the lapse of any
or all of the restrictions on the Restricted Stock and Restricted Stock Units which acceleration shall not affect any other terms
and conditions of such Awards.

 

(ii)         Automatic
Grants to Non-Employee Directors. Notwithstanding any other provision of this Plan to the contrary, Restricted Stock Units
shall be automatically granted to each Non-Employee Director in accordance with this Section 9(a)(ii) without any additional
required action by the Committee.  On the first business day of each fiscal year of the Company, each Non-Employee Director
on such date shall be granted a number of Restricted Stock Units determined by dividing $100,000 by the Fair Market Value of a
share on such date (which number shall be rounded up to the next whole number of shares).  Each Non-Employee Director who
is initially elected or appointed to the Board during the fiscal year shall be granted on the date of such election or appointment
a number of Restricted Stock Units, equal to the quotient (which number of shares shall be rounded up to the next whole number
of shares) of (i) the product of $100,000 multiplied by a fraction, the numerator of which shall be the number of days remaining
during the fiscal year and the denominator of which shall be 365, divided by (ii) the Fair Market Value of a share of Common
Stock on such Non-Employee Director’s date of election or appointment. Except as otherwise provided in this Section 9, or
as otherwise provided in the applicable Award agreement, or any applicable consulting, change in control, severance or other agreement
between a Non-Employee Director and the Company or an Affiliate, the foregoing automatic grants of Restricted Stock Units shall
have a Restricted Period of one year, and shall vest in full on the first anniversary of the date of grant, and thereafter the
restrictions set forth in the applicable Award agreement shall have no further force or effect with respect to such Restricted
Stock Units (and such Restricted Stock Units shall be treated as Released Units for purposes of Section 9(e)(ii)), provided that
the Non-Employee Director remains in the service of the Company and its Affiliates throughout the one year period commencing on
the date of grant. Each Non-Employee Director shall also be eligible to receive grants of additional Awards under the Plan; provided
that, no Non-Employee Director shall be granted equity Awards under the Plan in any one calendar year having an aggregate Fair
Market Value (measured on the date(s) of grant) in such calendar year in excess of $250,000 in the aggregate (including the annual
$100,000 grant provided for above in this clause (ii)).

 

     16

     

    

  

(b)          Stock
Certificates; Escrow or Similar Arrangement. Upon the grant of Restricted Stock, the Committee shall cause share(s) of Common
Stock to be registered in the name of the Participant and held in book-entry form subject to the Company’s directions and,
if the Committee determines that the Restricted Stock shall be held by the Company or in escrow rather than delivered to the Participant
pending vesting and the release of the applicable restrictions, the Committee may require the Participant to additionally execute
and deliver to the Company (i) an escrow agreement satisfactory to the Committee, if applicable, and (ii) the appropriate stock
power (endorsed in blank) with respect to the Restricted Stock covered by such agreement. If a Participant shall fail to execute
and deliver (in a manner permitted under Section 15(a) or as otherwise determined by the Committee) an agreement evidencing an
Award of Restricted Stock and, if applicable, an escrow agreement and blank stock power within the amount of time specified by
the Committee, the Award shall be null and void. Subject to the restrictions set forth in this Section 9 and the applicable
Award agreement, the Participant generally shall have the rights and privileges of a shareholder as to such Restricted Stock, including
without limitation the right to vote such Restricted Stock (provided that any dividends payable on such shares of Restricted Stock
shall be held by the Company and delivered (without interest) to the Participant within 15 days following the date on which the
restrictions on such Restricted Stock lapse (and the right to any such accumulated dividends shall be forfeited upon the forfeiture
of the Restricted Stock to which such dividends relate)). The Committee shall also be permitted to cause a stock certificate registered
in the name of the Participant to be issued. To the extent shares of Restricted Stock are forfeited, any stock certificates issued
to the Participant evidencing such shares shall be returned to the Company, and all rights of the Participant to such shares and
as a shareholder with respect thereto shall terminate without further obligation or action on the part of the Company.

 

(c)          Restricted
Stock Units. No shares shall be issued at the time an Award of Restricted Stock Units is made, and the Company will not be
required to set aside a fund for the payment of any such Award. At the discretion of the Committee, each Restricted Stock Unit
(representing one share of Common Stock) Awarded to a Participant may be credited with cash and stock dividends paid in respect
of one share of Common Stock (“Dividend Equivalents”). Subject to Section 15(c), at the discretion of the Committee,
Dividend Equivalents may be either currently paid to the Participant or withheld by the Company for the Participant’s account,
and interest may be credited on the amount of cash Dividend Equivalents withheld at a rate and subject to such terms as determined
by the Committee. Dividend Equivalents credited to a Participant’s account and attributable to any particular Restricted
Stock Unit (and earnings thereon, if applicable) shall be distributed to the Participant upon settlement of such Restricted Stock
Unit and, if such Restricted Stock Unit is forfeited, the Participant shall have no right to such Dividend Equivalents.

 

(d)          Restrictions;
Forfeiture. (i) Restricted Stock Awarded to a Participant shall be subject to forfeiture until the expiration of the Restricted
Period and the attainment of any other vesting criteria established by the Committee, and to the following provisions in addition
to such other terms and conditions as may be set forth in the applicable Award agreement: (A) if an escrow arrangement is used,
the Participant shall not be entitled to delivery of the stock certificate; and (B) the shares shall be subject to the restrictions
on transferability set forth in the Award agreement. In the event of any forfeiture, the stock certificates shall be returned to
the Company, and all rights of the Participant to such shares and as a shareholder shall terminate without further action or obligation
on the part of the Company.

 

(ii)         Restricted
Stock Units Awarded to any Participant shall be subject to forfeiture until the expiration of the Restricted Period and the attainment
of any other vesting criteria established by the Committee, and to such other terms and conditions as may be set forth in the applicable
Award agreement. In the event of any forfeiture, all rights of the Participant to such Restricted Stock Units shall terminate without
further action or obligation on the part of the Company.

 

     17

     

    

  

(iii)        Notwithstanding
anything to the contrary in the Plan, except as otherwise provided in the applicable Award agreement, or any applicable employment,
consulting, change in control, severance or other agreement between a Participant and the Company or an Affiliate, upon such Participant’s
termination of employment or service with the Company and its Affiliates due to death, Disability or Retirement (unless waived
by a participant prior to the grant of the applicable Award), or as provided in Section 13 hereof, such Participant’s outstanding
Restricted Stock and Restricted Stock Units shall immediately vest in full, and the restrictions set forth in the applicable Award
agreement shall have no further force or effect with respect to such Restricted Stock or Restricted Stock Units (and such Restricted
Stock Units shall be treated as Released Units for purposes of Section 9(e)(ii)); provided, however, that if the vesting of any
Restricted Stock or Restricted Stock Units would otherwise be subject to the achievement of performance conditions, then: (A) all
applicable performance criteria shall be deemed to have been attained at target levels and (B) if such termination of employment
or service or Change in Control occurs on or prior to the date on which 50% of the applicable performance period has elapsed, only
50% of such Restricted Stock or Restricted Stock Units shall immediately vest.

 

(iv)        The
Committee shall have the authority to remove any or all of the restrictions on the Restricted Stock and Restricted Stock Units
whenever it may determine that, by reason of changes in applicable laws or other changes in circumstances arising after the date
of the Restricted Stock Award or Restricted Stock Unit Award, such action is appropriate.

 

(e)          Delivery
of Restricted Stock and Settlement of Restricted Stock Units. (i) Upon the expiration of the Restricted Period with respect
to any shares of Restricted Stock and the attainment of any other vesting criteria established by the Committee, the restrictions
set forth in 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 a notice evidencing a book entry notation (or, if applicable, the stock certificate)
evidencing the shares of Restricted Stock which have not then been forfeited and with respect to which the Restricted Period has
expired (rounded down to the nearest full share). Dividends, if any, that may have been withheld by the Committee and attributable
to any particular share of Restricted Stock shall be distributed to the Participant in cash or, at the sole discretion of the Committee,
in shares of Common Stock having a Fair Market Value (on the date of distribution) equal to the amount of such dividends, upon
the release of restrictions on such share and, if such share is forfeited, the Participant shall have no right to such dividends.

 

     18

     

    

  

(ii)         Unless
otherwise provided by the Committee in an Award agreement, upon the expiration of the Restricted Period and the attainment of any
other vesting criteria established by the Committee, with respect to any outstanding Restricted Stock Units, the Company shall
deliver to the Participant, or his or her beneficiary, without charge, one share of Common Stock (or other securities or other
property, as applicable) for each such outstanding Restricted Stock Unit which has not then been forfeited and with respect to
which the Restricted Period has expired and any other such vesting criteria are attained (“Released Unit”);
provided, however, that the Committee may, in its sole discretion, elect to (i) pay cash or part cash and part
Common Stock in lieu of delivering only shares of Common Stock in respect of such Released Units or (ii) defer the delivery
of Common Stock (or cash or part Common Stock and part cash, as the case may be) beyond the expiration of the Restricted Period
if such extension would not cause adverse tax consequences under Section 409A of the Code. If a cash payment is made in lieu of
delivering shares of Common Stock, the amount of such payment shall be equal to the Fair Market Value of the Common Stock as of
the date on which the Restricted Period lapsed with respect to such Restricted Stock Units, less an amount equal to any Federal,
state, local and non-U.S. income and employment taxes required to be withheld. To the extent provided in an Award agreement, the
holder of outstanding Released Units shall be entitled to be credited with dividend equivalent payments (upon the payment by the
Company of dividends on shares of Common Stock) either in cash or, at the sole discretion of the Committee, in shares of Common
Stock having a Fair Market Value equal to the amount of such dividends (and interest may, at the sole discretion of the Committee,
be credited on the amount of cash dividend equivalents at a rate and subject to such terms as determined by the Committee), which
accumulated dividend equivalents (and interest thereon, if applicable) shall be payable at the same time as the underlying Restricted
Stock Units are settled following the release of restrictions on such Restricted Stock Units, and, if such Restricted Stock Units
are forfeited, the Participant shall have no right to such dividend equivalent payments.

 

(f)          Legends
on Restricted Stock. Each certificate representing Restricted Stock Awarded under the Plan, if any, shall bear a legend substantially
in the form of the following in addition to any other information the Company deems appropriate until the lapse of all restrictions
with respect to such Common Stock:

 

TRANSFER OF THIS CERTIFICATE AND THE SHARES REPRESENTED
HEREBY IS RESTRICTED PURSUANT TO THE TERMS OF THE CHILDREN’S PLACE, INC. 2011 EQUITY INCENTIVE PLAN AND A RESTRICTED STOCK
AWARD AGREEMENT, DATED AS OF _____________, BETWEEN THE CHILDREN’S PLACE, INC. AND __________________. A COPY OF SUCH PLAN
AND AWARD AGREEMENT IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF THE CHILDREN’S PLACE, INC.

 

10.         Other
Stock-Based Awards.  The Committee may issue unrestricted Common Stock, rights to receive grants of Awards at a future date,
or other Awards denominated in Common Stock (including, without limitation, performance shares or performance units), under the
Plan to Eligible Persons, alone or in tandem with other Awards, in such amounts as the Committee shall from time to time in its
sole discretion determine. Each Other Stock-Based Award granted under the Plan shall be evidenced by an Award agreement. Each Other
Stock-Based Award so granted shall be subject to such conditions not inconsistent with the Plan as may be reflected in the applicable
Award agreement including, without limitation, the payment by the Participant of the Fair Market Value of such shares of Common
Stock on the date of grant. Notwithstanding anything to the contrary in the Plan, except as otherwise provided in the applicable
Award agreement, or any applicable employment, consulting, change in control, severance or other agreement between a Participant
and the Company or an Affiliate, upon such Participant’s termination of employment or service with the Company and its Affiliates
due to death, Disability or Retirement, or as provided in Section 13 hereof, such Participant’s outstanding Other Stock-Based
Awards shall immediately vest in full, and the restrictions set forth in the applicable Award agreement shall have no further force
or effect with respect to such Other Stock-Based Awards; provided, however, that if the vesting of any Other Stock-Based Awards
would otherwise be subject to the achievement of performance conditions, then: (A) all applicable performance criteria shall be
deemed to have been attained at target levels and (B) if such termination of employment or service or Change in Control occurs
on or prior to the date on which 50% of the applicable performance period has elapsed, only 50% of each such Other Stock-Based
Award shall immediately vest.

 

     19

     

    

  

11.         Performance
Compensation Awards. (a) Generally. The Committee shall have the authority, at or before the time of grant of any Award
described in Sections 7 through 10 of the Plan, to designate such Award as a Performance Compensation Award intended to qualify
as “performance-based compensation” under Section 162(m) of the Code. 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 intended
to qualify as “performance-based compensation” under Section 162(m) of the Code. Notwithstanding the foregoing,
a. any Award to a Participant who is a “covered employee” (within the meaning of Section 162(m) of the Code) for a
fiscal year that satisfies the requirements of this Section 11 may be treated as a Performance Compensation Award in the absence
of any such Committee designation and b. if the Company determines that a Participant who has been granted an Award designated
as a Performance Compensation Award is not (or is no longer) a “covered employee” (within the meaning of Section 162(m)
of the Code), the terms and conditions of such Award may be modified without regard to any restrictions or limitations set forth
in this Section 11 (but subject otherwise to the provisions of Section 14 of the Plan).

 

(b)          Discretion
of Committee with Respect to Performance Compensation Awards. With regard to a particular Performance Period, the Committee
shall have sole discretion to select the length of such Performance Period [(subject to the proviso contained in the third sentence
of Section 9(a)(i) above),] 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 Goals(s) that is (are) to apply and the
Performance Formula. Within the first 90 days of a Performance Period (or, if longer or shorter, within the maximum period allowed
under Section 162(m) of the Code), 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
and record the same in writing (which may be in the form of minutes of a meeting of the Committee).

 

(c)          Performance
Criteria. The Performance Criteria that will be used to establish the Performance Goal(s) may be based on the attainment of
specific levels of performance of the Company (and/or one or more Affiliates, divisions or operational and/or business units, product
lines, brands, business segments, administrative departments, units, or any combination of the foregoing) and shall be limited
to the following: (i) net earnings or net income (before or after taxes); (ii) basic or diluted earnings per share (before or after
taxes); (iii) net revenue or net revenue growth; (iv)gross revenue or gross revenue growth, gross profit or gross profit growth;
(v) net operating profit (before or after taxes); (vi) return measures (including, but not limited to, return on investment, assets,
capital, gross revenue or gross revenue growth, invested capital, equity, or sales); (vii) cash flow (including, but not limited
to, operating cash flow, free cash flow, and cash flow return on capital), which may but are not required to be measured on a per
share basis; ) (viii) earnings before or after taxes, interest, depreciation and/or amortization (including EBIT and EBITDA); (ix)
gross or net operating margins; (x) productivity ratios; (xi) share price (including, but not limited to, growth measures and total
shareholder return); (xii) expense targets or cost reduction goals, general and administrative expense savings; (xiii) margins;
(xiv) operating efficiency; (xv) objective measures of customer satisfaction; (xvi) working capital targets; (xvii) measures of
economic value added or other ‘value creation’ metrics; (xviii) inventory control; (xix) enterprise value; (xx) sales;
(xxi) stockholder return; (xxii) client retention; (xxiii) competitive market metrics; (xxiv) employee retention; (xxv) timely
completion of new product rollouts; (xxvi) timely launch of new facilities; (xxvii) objective measures of personal targets, goals
or completion of projects (including but not limited to succession and hiring projects, completion of specific acquisitions, reorganizations
or other corporate transactions or capital-raising transactions, expansions of specific business operations and meeting divisional
or project budgets); (xxviii) system-wide revenues; (xxix) royalty income; (xxx) cost of capital, debt leverage year-end cash position
or book value; (xxxi) strategic objectives, development of new product lines and related revenue, sales and margin targets, or
international operations; or (xxxii) any combination of the foregoing. Any one or more of the Performance Criteria may be stated
as a percentage of another Performance Criteria, or a percentage of a prior period’s Performance Criteria, or used on an
absolute, relative or adjusted basis to measure the performance of the Company and/or one or more Affiliates as a whole or any
divisions or operational and/or business units, product lines, brands, business segments, administrative departments of the Company
and/or one or more Affiliates or any combination thereof, as the Committee may deem appropriate, or any of the above Performance
Criteria may be compared to the performance of a group of comparator companies, or a published or special index that the Committee,
in its sole discretion, deems appropriate, or as compared to various stock market indices. The Committee also has the authority
to provide for accelerated vesting, delivery and exercisability of any Award based on the achievement of Performance Goals pursuant
to the Performance Criteria specified in this paragraph. To the extent required under Section 162(m) of the Code, the Committee
shall, within the first 90 days of a Performance Period (or, if longer or shorter, within the maximum period allowed under Section 162(m)
of the Code), define in an objective fashion the manner of calculating the Performance Criteria it selects to use for such Performance
Period.

 

     20

     

    

  

(d)          Modification
of Performance Goal(s). In the event that applicable tax and/or securities laws change to permit Committee discretion to alter
the governing Performance Criteria without obtaining shareholder approval of such alterations, the Committee shall have sole discretion
to make such alterations without obtaining shareholder approval. Unless otherwise determined by the Committee at the time a Performance
Compensation Award is granted, the Committee is authorized at any time during the first 90 days of a Performance Period (or, if
longer or shorter, within the maximum period allowed under Section 162(m) of the Code), or at any time thereafter to the extent
the exercise of such authority at such time would not cause the Performance Compensation Awards granted to any Participant for
such Performance Period to fail to qualify as “performance-based compensation” under Section 162(m) of the Code, specify
adjustments or modifications to be made to the calculation of a Performance Goal for such Performance Period, based on and in order
to appropriately reflect the following events: (i) asset write-downs; (ii) litigation or claim judgments or settlements; (iii)
the effect of changes in tax laws, accounting principles, or other laws or regulatory rules affecting reported results; (iv) any
reorganization and restructuring programs; (v) nonrecurring items as described in Accounting Standards Codification Topic 225-20
(or any successor 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; (vi) acquisitions or divestitures;
(vii) any other specific unusual or nonrecurring events, or objectively determinable category thereof; (viii) foreign exchange
gains and losses; (ix) discontinued operations and nonrecurring charges; and (x) a change in the Company’s fiscal year.

 

(e)          Payment
of Performance Compensation Awards. (i) Condition to Receipt of Payment. Unless otherwise provided in the applicable
Award agreement or any employment, consulting, change in control, severance agreement or other arrangement between a Participant
and the Company or an Affiliate, a Participant must be employed by or rendering services to the Company or an Affiliate 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.
Unless otherwise provided in the applicable Award agreement, or any employment, consulting, change in control, severance or other
agreement between a Participant and the Company or an Affiliate, a Participant shall be eligible to receive payment or delivery,
as applicable, in respect of a Performance Compensation Award only to the extent that: (A) the Performance Goals for such
period are achieved, as determined by the Committee in its sole discretion; and (B) all or some of the portion of such Participant’s
Performance Compensation Award has been earned for the Performance Period based on the application of the Performance Formula to
such achieved Performance Goals, as determined by the Committee in its sole discretion, and except as otherwise provided in Section
13; provided, however, that in the event of the termination of a Participant’s employment or service due to
death or Disability, (A) the Participant shall receive payment in respect of a Performance Compensation Award assuming for such
purpose that the applicable performance criteria shall be deemed to have been attained at target levels and (B) if such termination
of employment or service occurs on or prior to the date on which 50% of the applicable performance period has elapsed, only 50%
of the Performance Compensation Award shall be payable.

 

     21

     

    

  

(iii)        Certification.
Following the completion of a Performance Period, the Committee shall review and certify in writing (which may be in the form of
minutes of a meeting of the Committee) whether, and to what extent, the Performance Goals for the Performance Period have been
achieved and, if so, calculate and certify in writing (which may be in the form of minutes of a meeting of the Committee) that
amount of the Performance Compensation Awards earned for the period based upon the Performance Formula. The Committee shall then
determine the amount of each Participant’s Performance Compensation Award actually payable for the Performance Period and,
in so doing, may apply Negative Discretion.

 

(iv)        Use
of Negative Discretion. In determining the actual amount of an individual Participant’s Performance Compensation Award
for a Performance Period, the Committee may reduce or eliminate the amount of the Performance Compensation Award earned under the
Performance Formula in the Performance Period through the use of Negative Discretion if, in its sole judgment, such reduction or
elimination is appropriate; provided, that Negative Discretion shall not apply to any Performance Compensation Award (other than
cash bonuses contemplated by the second sentence of Section 11(a)) unless the Award agreement so provides for the use of Negative
Discretion. Unless otherwise provided in the applicable Award agreement, the Committee shall not have the discretion to (A) provide
payment or delivery in respect of Performance Compensation Awards for a Performance Period if the Performance Goals for such Performance
Period have not been attained; or (B) increase a Performance Compensation Award above the applicable limitations set forth
in Section 5 of the Plan.

 

(f)          Timing
of Award Payments. Unless otherwise provided in the applicable Award agreement, 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 11. Any Performance Compensation Award that has been deferred shall not (between the date as of which
the Award is deferred and the payment date) increase (i) with respect to a Performance Compensation Award that is payable
in cash, by a measuring factor for each fiscal year greater than a reasonable rate of interest set by the Committee or (ii) with
respect to a Performance Compensation Award that is payable in shares of Common Stock, by an amount greater than the appreciation
of a share of Common Stock from the date such Award is deferred to the payment date. Unless otherwise provided in an Award agreement,
any Performance Compensation Award that is deferred and is otherwise payable in shares of Common Stock shall be credited (during
the period between the date as of which the Award is deferred and the payment date) with dividend equivalents (in a manner consistent
with the methodology set forth in the last sentence of Section 9(d)(ii)).

 

12.         Changes
in Capital Structure and Similar Events.  In the event of (a) any dividend (other than regular cash dividends) or other distribution
(whether in the form of cash, shares of Common Stock, other securities or other property), recapitalization, stock split, reverse
stock split, reorganization, merger, consolidation, split-up, split-off, spin-off, combination, repurchase or exchange of shares
of Common Stock or other securities of the Company, issuance of warrants or other rights to acquire shares of Common Stock or other
securities of the Company, or other similar corporate transaction or event (including, without limitation, a Change in Control)
that affects the shares of Common Stock, or (b) unusual or nonrecurring events (including, without limitation, a Change in Control)
affecting the Company, any Affiliate, or the financial statements of the Company or any Affiliate, or changes in applicable rules,
rulings, regulations or other requirements of any governmental body or securities exchange or inter-dealer quotation service, accounting
principles or law, such that in any case an adjustment is determined by the Committee in its sole discretion to be necessary or
appropriate, then the Committee shall make any such adjustments in such manner as it may deem equitable, including without limitation
any or all of the following:

 

     22

     

    

  

(i)          adjusting
any or all of (A) the number of shares of Common Stock or other securities of the Company (or number and kind of other securities
or other property) which may be delivered in respect of Awards or with respect to which Awards may be granted under the Plan (including,
without limitation, adjusting any or all of the limitations under Section 5 of the Plan) and (B) the terms of any outstanding Award,
including, without limitation, (1) the number of shares of Common Stock or other securities of the Company (or number and kind
of other securities or other property) subject to outstanding Awards or to which outstanding Awards relate, (2) the Exercise Price
or Strike Price with respect to any Award or (3) any applicable performance measures (including, without limitation, Performance
Criteria, Performance Formula and Performance Goals);

 

(ii)         providing
for a substitution or assumption of Awards (or Awards of an acquiring company), accelerating the delivery, vesting and/or exercisability
of, lapse of restrictions and/or other conditions on, or termination of, Awards or providing for a period of time (which shall
not be required to be more than ten (10) days) for Participants to exercise outstanding Awards prior to the occurrence of such
event (and any such Award not so exercised shall terminate upon the occurrence of such event); and

 

(iii)        cancelling
any one or more outstanding Awards (or Awards of an acquiring company) and causing to be paid to the holders thereof, in cash,
shares of Common Stock, other securities or other property, or any combination thereof, the value of such Awards, if any, as determined
by the Committee (which if applicable may be based upon the price per share of Common Stock received or to be received by other
shareholders of the Company in such event), including without limitation, in the case of an outstanding Option or SAR, a cash payment
in an amount equal to the excess, if any, of the Fair Market Value (as of a date specified by the Committee) of the shares of Common
Stock subject to such Option or SAR over the aggregate Exercise Price or Strike Price of such Option or SAR, respectively (it being
understood that, in such event, any Option or SAR having a per share Exercise Price or Strike Price equal to, or in excess of,
the Fair Market Value of a share of Common Stock subject thereto may be canceled and terminated without any payment or consideration
therefor);

 

provided, however, that in the case of any “equity
restructuring” (within the meaning of the Financial Accounting Standards Board Accounting Standards Codification Topic 718
(or any successor pronouncement thereto) (“ASC 718”), the Committee shall make an equitable or proportionate adjustment
to outstanding Awards to reflect such equity restructuring. Except as otherwise determined by the Committee, any adjustment in
Incentive Stock Options under this Section 12 (other than any cancellation of Incentive Stock Options) shall be made only
to the extent not constituting a “modification” within the meaning of Section 424(h)(3) of the Code, and any adjustments
under this Section 12 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.

 

     23

     

    

  

13.         Effect
of Change in Control.  Except to the extent otherwise provided in an Award agreement, or any applicable employment, consulting,
change in control, severance or other agreement between a Participant and the Company or an Affiliate, in the event of a Change
in Control, notwithstanding any provision of the Plan to the contrary:

 

(a)       
In the case of Options, SARs and other Awards which are service-based and not subject to Performance Goals or other performance
conditions, in the event that an Involuntary Termination of a Participant occurs within six (6) months prior to the occurrence
of a Change in Control (in respect of Participants designated by the Committee) or within twelve (12) months following a Change
in Control (in respect of all Participants), all Options and SARs held by such Participant shall become immediately exercisable
with respect to all of the shares of Common Stock subject to such Options and SARs, and the Restricted Period (and any other non-performance
based conditions) applicable to all Restricted Stock Awards, Restricted Stock Unit Awards and any other service-based Awards held
by such Participant shall expire immediately, and all such Awards shall immediately become fully vested and the shares of Common
Stock subject to all such Awards shall be immediately delivered to such Participant.

 

(b)          In
the case of equity Awards which are subject to the achievement of Performance Goals or other performance conditions, immediately
prior to the occurrence of a Change in Control, the target number of shares of Common Stock set forth in the applicable Award agreement
shall automatically convert into service-based Awards, and such service-based Awards shall vest and be delivered to the Participant
on the vesting date set forth in the applicable Award agreement (without regard to the achievement of any applicable Performance
Goals or other performance conditions), provided that the Participant is in the employ of the Company or an Affiliate on the applicable
vesting date; provided that, in the event that an Involuntary Termination of a Participant occurs within six (6) months prior to
the occurrence of a Change in Control (in respect of Participants designated by the Committee) or on or within twelve (12) months
following a Change in Control (in respect of all Participants), all such unvested service-based Awards held by such Participant
shall immediately become fully vested and the shares of Common Stock subject to such Awards shall be immediately delivered to such
Participant.

(c)          In
addition, in the event of a Change of Control, the Committee may in its discretion and upon at least 5 days’ advance notice
to the affected persons, cancel any outstanding Award and pay to the holders thereof, in cash, securities or other property (including
of the acquiring or successor company) or any combination thereof, the value of such Awards based upon the price per share of Common
Stock received or to be received by other shareholders of the Company in the event. Notwithstanding the above, the Committee shall
exercise such discretion over any Award subject to Code Section 409A at the time such Award is granted.

 

(d)          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 substantially
all of the assets and business of the Company.

 

To the extent practicable, the provisions
of this Section 13 shall occur in a manner and at a time which allows affected Participants the ability to participate in the Change
in Control transaction with respect to the Common Stock subject to their Awards.

 

14.         Amendments
and Termination. (a) Amendment and Termination of the Plan. The Committee may amend, alter, suspend, discontinue, or
terminate the 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 tax or regulatory requirement
applicable to the Plan (including, without limitation, as necessary to comply with any rules or requirements of any securities
exchange or inter-dealer quotation service on which the shares of Common Stock may be listed or quoted or for changes in GAAP to
new accounting standards, to prevent the Company from being denied a tax deduction under Section 162(m) of the Code); 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 consent of the affected Participant, holder or beneficiary. Notwithstanding the foregoing, no amendment shall
be made to the last proviso of Section 14(b) without stockholder approval.

 

     24

     

    

  

(b)          Amendment
of Award Agreements. The Committee may, to the extent not inconsistent 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 (including after a Participant’s termination of
employment or service with the Company); provided 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; provided, further,
that without shareholder approval, except as otherwise permitted under Section 12 of the Plan, (i) no amendment or modification
may reduce the Exercise Price of any Option or the Strike Price of any SAR, (ii) the Committee may not cancel any outstanding
Option or SAR and replace it with a new Option or SAR (with a lower Exercise Price or Strike Price, as the case may be) or other
Award or cash in a manner which would either (A) be reportable on the Company’s proxy statement as Options which have
been “repriced” (as such term is used in Item 402 of Regulation S-K promulgated under the Exchange Act), or (B) result
in any “repricing” for financial statement reporting purposes (or otherwise cause the Award to fail to qualify for
equity accounting treatment) and (iii) the Committee may not take any other action which is considered a “repricing”
for purposes of the shareholder approval rules of the applicable securities exchange or inter-dealer quotation service on which
the Common Stock is listed or quoted.

 

15.         General.
(a) Award Agreements. Each Award under the Plan shall be evidenced by an Award agreement, which shall be delivered to the
Participant and shall specify the terms and conditions of the Award and any rules applicable thereto. For purposes of the Plan,
an Award agreement may be in any such form (written or electronic) as determined by the Committee (including, without limitation,
a Board or Committee resolution, an employment agreement, a notice, a certificate or a letter) evidencing the Award.

 

(b)          Nontransferability.
(i) Each Award shall be exercisable only by a Participant during the Participant’s lifetime, or, if permissible under applicable
law, by the Participant’s legal guardian or representative. No Award may be assigned, alienated, pledged, attached, sold
or otherwise transferred or encumbered by a Participant other than by will or by the laws of descent and distribution and any such
purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the
Company or an Affiliate; provided that the designation of a beneficiary shall not constitute an assignment, alienation, pledge,
attachment, sale, transfer or encumbrance.

 

(ii)         Notwithstanding
the foregoing, the Committee may, in its sole discretion, permit Awards (other than Incentive Stock Options) to be transferred
by a Participant, without consideration, subject to such rules as the Committee may adopt consistent with any applicable Award
agreement to preserve the purposes of the Plan, to: (A) any person who is a “family member” of the Participant, as
such term is used in the instructions to Form S-8 under the Securities Act or any successor form of registration statements
promulgated by the Securities and Exchange Commission (collectively, the “Immediate Family Members”); (B) a
trust solely for the benefit of the Participant and his or her Immediate Family Members; (C) a partnership or limited liability
company whose only partners or shareholders are the Participant and his or her Immediate Family Members; or (D) any other transferee
as may be approved either (I) by the Board or the Committee in its sole discretion, or (II) as provided in the applicable
Award agreement; (each transferee described in clauses (A), (B), (C) and (D) above is hereinafter referred to as a “Permitted
Transferee”); provided that the Participant gives the Committee advance written notice describing the terms and
conditions of the proposed transfer and the Committee notifies the Participant in writing that such a transfer would comply with
the requirements of the Plan.

 

     25

     

    

  

(iii)        The
terms of any Award transferred in accordance with the immediately preceding sentence shall apply to the Permitted Transferee and
any reference in the Plan, or in any applicable Award agreement, to a Participant shall be deemed to refer to the Permitted Transferee,
except that (A) Permitted Transferees shall not be entitled to transfer any Award, other than by will or the laws of descent and
distribution; (B) Permitted Transferees shall not be entitled to exercise any transferred Option unless there shall be in effect
a registration statement on an appropriate form covering the shares of Common Stock to be acquired pursuant to the exercise of
such Option if the Committee determines, consistent with any applicable Award agreement, that such a registration statement is
necessary or appropriate; (C) the Committee or the Company shall not be required to provide any notice to a Permitted Transferee,
whether or not such notice is or would otherwise have been required to be given to the Participant under the Plan or otherwise;
and (D) the consequences of the termination of the Participant’s employment by, or services to, the Company or an Affiliate
under the terms of the Plan and the applicable Award agreement shall continue to be applied with respect to the Permitted Transferee,
including, without limitation, that an Option shall be exercisable by the Permitted Transferee only to the extent, and for the
periods, specified in the Plan and the applicable Award agreement.

 

(c)          Dividends
and Dividend Equivalents. The Committee in its sole discretion may provide a Participant as part of an Award with dividends
or dividend equivalents, payable in cash, shares of Common Stock, other securities, other Awards or other property, on a current
or deferred basis, on such terms and conditions as may be determined by the Committee in its sole discretion, including without
limitation, payment directly to the Participant, withholding of such amounts by the Company subject to vesting of the Award or
reinvestment in additional shares of Common Stock, Restricted Stock or other Awards; provided, that no dividend equivalents shall
be payable in respect of outstanding (i) Options or SARs or (ii) unearned Performance Compensation Awards or other unearned Awards
subject to performance conditions (other than or in addition to the passage of time) (although dividend equivalents may be accumulated
in respect of unearned Awards and paid as soon as administratively practicable, but no more than 60 days, after such Awards are
earned and become payable or distributable.

 

(d)          Tax
Withholding. (i) A Participant shall be required to pay to the Company or any Affiliate, and the Company or any Affiliate shall
have the right (but not the obligation) and is hereby authorized to withhold, from any cash, shares of Common Stock, other securities
or other property deliverable under any Award or from any compensation or other amounts owing to a Participant, the amount (in
cash, Common Stock, other securities or other property) of any required withholding taxes in respect of an Award, its exercise,
or any payment or transfer under an Award or under the Plan and to take such other action as may be necessary in the opinion of
the Committee or the Company to satisfy all obligations for the payment of such withholding and taxes.

 

(ii)         Without
limiting the generality of clause (i) above, the Committee may, in its sole discretion, permit a Participant to satisfy,
in whole or in part, the foregoing withholding liability (but no more than the minimum required statutory liability withholding
liability, if required to avoid adverse accounting treatment of the Award as a liability Award under ACS 718) by (A) payment
in cash; (B) the delivery of shares of Common Stock (which are not subject to any pledge or other security interest) owned by the
Participant having a Fair Market Value equal to such withholding liability or (C) having the Company withhold from the number
of shares of Common Stock otherwise issuable or deliverable pursuant to the exercise or settlement of the Award a number of shares
with a Fair Market Value equal to such withholding liability.

 

     26

     

    

  

(e)          No
Claim to Awards; No Rights to Continued Employment; Waiver. No employee of the Company or an Affiliate, or other person, shall
have any claim or right to be granted an Award under the Plan or, having been selected for the grant of an Award, to be selected
for a grant of any other Award. There is no obligation for uniformity of treatment of Participants or holders or beneficiaries
of Awards. The terms and conditions of Awards and the Committee’s determinations and interpretations with respect thereto
need not be the same with respect to each Participant and may be made selectively among Participants, whether or not such Participants
are similarly situated. Neither the Plan nor any action taken hereunder shall be construed as giving any Participant any right
to be retained in the employ or service of the Company or an Affiliate, nor shall it be construed as giving any Participant any
rights to continued service on the Board. The Company or any of its Affiliates may at any time dismiss a Participant from employment
or discontinue any consulting relationship, free from any liability or any claim under the Plan, unless otherwise expressly provided
in the Plan or any Award agreement. By accepting an Award under the Plan, a Participant shall thereby be deemed to have waived
any claim to continued exercise or vesting of an Award or to damages or severance entitlement related to non-continuation of the
Award beyond the period provided under the Plan or any Award agreement, notwithstanding any provision to the contrary in any written
employment contract or other agreement between the Company and its Affiliates and the Participant, whether any such agreement is
executed before, on or after the date of grant.

 

(f)          International
Participants. Without limiting the generality of Section 4(d), with respect to Participants who reside or work outside of the
United States of America and who are not (and who are not expect to be) “covered employees” within the meaning of Section
162(m) of the Code, the Committee may in its sole discretion amend the terms of the Plan or subplans or appendices thereto, or
outstanding Awards, with respect to such Participants in order to conform such terms with the requirements of local law or to obtain
more favorable tax or other treatment for a Participant, the Company or its Affiliates.

 

(g)          Designation
and Change of Beneficiary. Each Participant may file with the Committee a written designation of one or more persons as the
beneficiary(ies) who shall be entitled to receive the amounts payable with respect to an Award, if any, due under the Plan upon
his or her death. A Participant may, from time to time, revoke or change his or her beneficiary designation without the consent
of any prior beneficiary by filing a new designation with the Committee. The last such designation received by the Committee shall
be controlling; provided, however, that no designation, or change or revocation thereof, shall be effective unless
received by the Committee prior to the Participant’s death, and in no event shall it be effective as of a date prior to such
receipt. If no beneficiary designation is filed by a Participant, the beneficiary shall be deemed to be his or her spouse (or domestic
partner if such status is recognized by the Company according to the procedures established by the Company and in such jurisdiction),
or if the Participant is otherwise unmarried at the time of death, his or her estate. After receipt of Options in accordance with
this paragraph, beneficiaries will only be able to exercise such options in accordance with Section 7(c)(ii) of this Plan.

 

(h)          Termination
of Employment or Service. Except as otherwise provided in an Award agreement, or any employment, consulting, change in control,
severance or other agreement between a Participant and the Company or an Affiliate, unless determined otherwise by the Committee:
(i) neither a temporary absence from employment or service due to illness, vacation or leave of absence (including, without limitation,
a call to active duty for military service through a Reserve or National Guard unit) nor a transfer from employment or service
with the Company to employment or service with an Affiliate (or vice-versa) shall be considered a termination of employment or
service with the Company or an Affiliate; and (ii) if a Participant’s employment with the Company and its Affiliates terminates,
but such Participant continues to provide services to the Company or its Affiliates in a non-employee capacity (including as a
Non-Employee Director) (or vice-versa), such change in status shall not be considered a termination of employment or service with
the Company or an Affiliate for purposes of the Plan.

 

     27

     

    

  

(i)          No
Rights as a Shareholder. Except as otherwise specifically provided in the Plan or any Award agreement, no person shall be entitled
to the privileges of ownership in respect of shares of Common Stock which are subject to Awards hereunder until such shares have
been issued or delivered to that person.

 

(j)          Government
and Other Regulations. (i) The obligation of the Company to settle Awards in Common Stock or other consideration shall be subject
to all applicable laws, rules, and regulations, and to such approvals by governmental agencies as may be required. Notwithstanding
any terms or conditions of any Award to the contrary, the Company shall be under no obligation to offer to sell or to sell, and
shall be prohibited from offering to sell or selling, any shares of Common Stock pursuant to an Award unless such shares have been
properly registered for sale pursuant to the Securities Act with the Securities and Exchange Commission or unless the Company has
received an opinion of counsel, satisfactory to the Company, that such shares may be offered or sold without such registration
pursuant to an available exemption therefrom and the terms and conditions of such exemption have been fully complied with. The
Company shall be under no obligation to register for sale under the Securities Act any of the shares of Common Stock to be offered
or sold under the Plan. The Committee shall have the authority to provide that all shares of Common Stock or other securities of
the Company or any Affiliate delivered under the Plan shall be subject to such stop transfer orders and other restrictions as the
Committee may deem advisable under the Plan, the applicable Award agreement, the Federal securities laws, or the rules, regulations
and other requirements of the Securities and Exchange Commission, any securities exchange or inter-dealer quotation service upon
which such shares or other securities of the Company are then listed or quoted and any other applicable Federal, state, local or
non-U.S. laws, rules, regulations and other requirements, and, without limiting the generality of Section 9 of the Plan, the Committee
may cause a legend or legends to be put on any such certificates of Common Stock or other securities of the Company or any Affiliate
delivered under the Plan to make appropriate reference to such restrictions or may cause such Common Stock or other securities
of the Company or any Affiliate delivered under the Plan in book-entry form to be held subject to the Company’s instructions
or subject to appropriate stop-transfer orders. Notwithstanding any provision in the Plan to the contrary, the Committee reserves
the right to add any additional terms or provisions to any Award granted under the Plan that it in its sole discretion deems necessary
or advisable in order that such Award complies with the legal requirements of any governmental entity to whose jurisdiction the
Award is subject.

 

(ii)         The
Committee may cancel an Award or any portion thereof if it determines, in its sole discretion, that legal or contractual restrictions
and/or blockage and/or other market considerations would make the Company’s acquisition of shares of Common Stock from the
public markets, the Company’s issuance of Common Stock to the Participant, the Participant’s acquisition of Common
Stock from the Company and/or the Participant’s sale of Common Stock to the public markets, illegal, impracticable or inadvisable.
If the Committee determines to cancel all or any portion of an Award in accordance with the foregoing, the Company shall pay to
the Participant an amount equal to the excess of (A) the aggregate Fair Market Value of the shares of Common Stock subject to such
Award or portion thereof canceled (determined as of the applicable exercise date, or the date that the shares would have been vested
or delivered, as applicable), over (B) the aggregate Exercise Price or Strike Price (in the case of an Option or SAR, respectively)
or any amount payable as a condition of delivery of shares of Common Stock (in the case of any other Award). Such amount shall
be delivered to the Participant as soon as practicable following the cancellation of such Award or portion thereof.

 

     28

     

    

  

(k)          No
Section 83(b) Elections Without Consent of Company. No election under Section 83(b) of the Code or under a similar provision
of law may be made unless expressly permitted by the terms of the applicable Award agreement or by action of the Committee in writing
prior to the making of such election. If a Participant, in connection with the acquisition of shares of Common Stock under the
Plan or otherwise, is expressly permitted to make such election and the Participant makes the election, the Participant shall notify
the Company of such election within ten days of filing notice of the election with the Internal Revenue Service or other governmental
authority, in addition to any filing and notification required pursuant to Section 83(b) of the Code or other applicable provision.

 

(l)          Payments
to Persons Other Than Participants. If the Committee shall find that any person to whom any amount is payable under the Plan
is unable to care for his or her affairs because of illness or accident, or is a minor, or has died, then any payment due to such
person or his or her estate (unless a prior claim therefor has been made by a duly appointed legal representative or a beneficiary
designation form has been filed with the Company) may, if the Committee so directs the Company, be paid to his or her spouse, child,
relative, an institution maintaining or having custody of such person, or any other person deemed by the Committee to be a proper
recipient on behalf of such person otherwise entitled to payment. Any such payment shall be a complete discharge of the liability
of the Committee and the Company therefor.

 

(m)          Nonexclusivity
of the Plan. Neither the adoption of this Plan by the Board nor the submission of this Plan to the shareholders of the Company
for approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements
as it may deem desirable, including, without limitation, the granting of stock options otherwise than under this Plan, and such
arrangements may be either applicable generally or only in specific cases.

 

(n)          No
Trust or Fund Created. Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any
kind or a fiduciary relationship between the Company or any Affiliate, on the one hand, and a Participant or other person or entity,
on the other hand. No provision of the Plan or any Award shall require the Company, for the purpose of satisfying any obligations
under the Plan, to purchase assets or place any assets in a trust or other entity to which contributions are made or otherwise
to segregate any assets, nor shall the Company maintain separate bank accounts, books, records or other evidence of the existence
of a segregated or separately maintained or administered fund for such purposes. Participants shall have no rights under the Plan
other than as unsecured general creditors of the Company, except that insofar as they may have become entitled to payment of additional
compensation by performance of services, they shall have the same rights as other employees under general law.

 

(o)          Reliance
on Reports. Each member of the Committee and each member of the Board (and their respective designees) shall be fully justified
in acting or failing to act, as the case may be, and shall not be liable for having so acted or failed to act in good faith, in
reliance upon any report made by the independent public accountant of the Company and its Affiliates and/or any other information
furnished in connection with the Plan by any agent of the Company or the Committee or the Board, other than himself or herself.

 

(p)          Relationship
to Other Benefits. No payment under the Plan shall be taken into account in determining any benefits under any pension, retirement,
profit sharing, group insurance or other benefit plan of the Company except as otherwise specifically provided in such other plan.

 

     29

     

    

  

(q)          Purchase
for Investment. Whether or not the Options and shares covered by the Plan have been registered under the Securities Act, each
person exercising an Option under the Plan or acquiring shares under the Plan, may be required by the Company to give a representation
in writing that such person is acquiring such shares for investment and not with a view to, or for sale in connection with, the
distribution of any part thereof. The Company will endorse any necessary legend referring to the foregoing restriction upon the
certificate or certificates representing any shares issued or transferred to the Participant upon the exercise of any Option granted
under the Plan.

 

(r)          Governing
Law. The Plan shall be governed by and construed in accordance with the internal laws of the State of Delaware applicable to
contracts made and performed wholly within the State of Delaware, without giving effect to the conflict of laws provisions thereof.

 

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

 

(t)          Obligations
Binding on Successors. 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 substantially all of the assets and business of the Company.

 

(u)          409A
of the Code. (i) Notwithstanding any provision of the Plan to the contrary, it is intended that the provisions of this Plan
comply with Section 409A of the Code, and all provisions of this Plan shall be construed and interpreted in a manner consistent
with the requirements for avoiding taxes or penalties under Section 409A of the Code. Each Participant is solely responsible and
liable for the satisfaction of all taxes and penalties that may be imposed on or in respect of such Participant in connection with
this Plan or any other plan maintained by the Company (including any taxes and penalties under Section 409A of the Code), and neither
the Company nor any Affiliate shall have any obligation to indemnify or otherwise hold such Participant (or any beneficiary) harmless
from any or all of such taxes or penalties. With respect to any Award that is considered “deferred compensation” subject
to Section 409A of the Code, references in the Plan to “termination of employment” (and substantially similar phrases)
shall mean “separation from service” within the meaning of Section 409A of the Code. For purposes of Section 409A of
the Code, each of the payments that may be made in respect of any Award granted under the Plan is designated as separate payments.

 

(ii)         Notwithstanding
anything in the Plan to the contrary, if a Participant is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i)
of the Code, no payments or deliveries in respect of any Awards that are “deferred compensation” subject to Section
409A of the Code shall be made to such Participant prior to the date that is six months after the date of such Participant’s
“separation from service” (as defined in Section 409A of the Code) or, if earlier, the Participant’s date of
death. Following any applicable six month delay, all such delayed payments or deliveries will be paid or delivered (without interest)
in a single lump sum on the earliest date permitted under Section 409A of the Code that is also a business day.

 

     30

     

    

  

(iii)        Unless
otherwise provided by the Committee, in the event that the timing of payments in respect of any Award (that would otherwise be
considered “deferred compensation” subject to Section 409A of the Code) would be accelerated upon the occurrence of
(A) a Change in Control, no such acceleration shall be permitted unless the event giving rise to the Change in Control satisfies
the definition of a change in the ownership or effective control of a corporation, or a change in the ownership of a substantial
portion of the assets of a corporation pursuant to Section 409A of the Code and any Treasury Regulations promulgated thereunder
or (B) a Disability, no such acceleration shall be permitted unless the Disability also satisfies the definition of “Disability”
pursuant to Section 409A of the Code and any Treasury Regulations promulgated thereunder.

 

(v)         Clawback/Forfeiture.
Notwithstanding anything to the contrary contained herein, an Award agreement may provide that the Committee may in its sole discretion
cancel such Award if the Participant, without the consent of the Company, while employed by or providing services to the Company
or any Affiliate or after termination of such employment or service, violates a non-competition, non-solicitation, non-disparagement,
non-disclosure covenant or agreement or otherwise has engaged in or engages in activity that is in conflict with or adverse to
the interest of the Company or any Affiliate, including fraud or conduct contributing to any financial restatements or irregularities,
as determined by the Committee in its sole discretion. The Committee may also provide in an Award agreement that if the Participant
otherwise has engaged in or engages in any activity referred to in the preceding sentence, the Participant will forfeit any compensation,
gain or other value realized thereafter on the vesting, exercise or settlement of such Award, the sale or other transfer of such
Award, or the sale of shares of Common Stock acquired in respect of such Award, and must promptly repay such amounts to the Company.
The Committee may also provide in an Award agreement that if the Participant receives any amount in excess of what the Participant
should have received under the terms of the Award for any reason (including without limitation by reason of a financial restatement,
mistake in calculations or other administrative error), all as determined by the Committee in its sole discretion, then the Participant
shall be required to promptly repay any such excess amount to the Company. To the extent required by applicable law (including
without limitation Section 302 of the Sarbanes Oxley Act and Section 954 of the Dodd Frank Act) and/or the rules and regulations
of NASDAQ or other securities exchange or inter-dealer quotation system on which the Common Stock is listed or quoted, or if so
required pursuant to a written policy adopted by the Company (as in effect and/or amended from time to time), Awards shall be subject
(including on a retroactive basis) to clawback, forfeiture or similar requirements (and such requirements shall be deemed incorporated
by reference into all outstanding Award agreements).

 

(w)          Code
Section 162(m) Re-approval. If so determined by the Committee, the provisions of the Plan regarding Performance Compensation
Awards shall be submitted for re-approval by the shareholders of the Company no later than the first shareholder meeting that occurs
in the fifth year following the year that shareholders previously approved such provisions following the date of initial shareholder
approval, for purposes of exempting certain Awards granted after such time from the deduction limitations of Section 162(m) of
the Code. Nothing in this subsection, however, shall affect the validity of Awards granted after such time if such shareholder
approval has not been obtained.

 

(x)          Expenses;
Gender; Titles and Headings. The expenses of administering the Plan shall be borne by the Company and its Affiliates. Masculine
pronouns and other words of masculine gender shall refer to both men and women. The titles and headings of the sections in the
Plan are for convenience of reference only, and in the event of any conflict, the text of the Plan, rather than such titles or
headings shall control.

 

* * *

 

     31

     

    

  

As adopted by the Board of Directors of
the Company on March 25, 2011.

 

As approved by the shareholders of the Company
on May 20, 2011.

 

As amended and restated by the Compensation
Committee of the Board of Directors of the Company on April 4, 2014.

 

As amended by the Compensation Committee
of the Board of Directors of the Company on February 13, 2015.

 

As amended and restated by the Compensation
Committee of the Board of Directors of the Company on February 12, 2016.

 

As amended and restated by the Board of Directors on May 25, 2016.

 

     32Exhibit 10.1

 

LIMITED WAIVER AND NINTH AMENDMENT TO

LOAN AND SECURITY AGREEMENT

(TERM LOAN AND REVOLVING LOAN)

 

This LIMITED WAIVER
AND NINTH AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Amendment”), dated as of June 6, 2016 (the “Effective
Date”), is entered into by and among THIRD SECURITY SENIOR STAFF 2008 LLC, as administrative agent (the “Agent”),
and a lender, the other lenders party hereto (collectively, the “Lenders”), and TRANSGENOMIC, INC., a
Delaware corporation (the “Borrower”).

 

WHEREAS, the
Borrower, the Agent and the Lenders are parties to that certain Loan and Security Agreement (Term Loan and Revolving Loan), dated
as of March 13, 2013 (as amended, restated, supplemented, or otherwise modified from time to time, the “Loan Agreement”),
whereby the Lenders have extended to the Borrower a loan facility pursuant to the Loan Agreement on the terms and subject to the
conditions contained therein;

 

WHEREAS, the
Borrower has informed the Agent that it has ceased operations at its patient testing laboratory in New Haven, Connecticut (the
“PT Business”);

 

WHEREAS, the
Borrower has informed the Agent that the operating losses experienced by the Borrower and the resulting cash used to support operating
activities has resulted in a reduction in the Borrower’s liquidity below the required minimum liquidity levels set forth
in Section 6.9(a) of the Loan Agreement and, accordingly, an Event of Default has occurred and continues to exist under Section
8.2(a) of the Loan Agreement as a result (the “Liquidity Event of Default”);

 

WHEREAS, the
Borrower has informed the Agent that the decision to cease operations in its PT Business has resulted in a reduction in the Borrower’s
revenues below the required minimum revenue levels set forth in Section 6.9(b) of the Loan Agreement for the six month period ended
December 31, 2015 and, accordingly, an Event of Default has occurred and continues to exist under Section 8.2(a) of the Loan Agreement
as a result (the “Revenue Event of Default”);

 

WHEREAS, Events
of Default also exist under (i) Section 8.1 of the Loan Agreement as a result of the Borrower’s failure to make the required
payments of: (A) interest when due in the aggregate amount of $412,069.03; (B) the anniversary fee due to the Agent, for the benefit
of the Lenders, under Section 2.9(b) in the amount of $20,000 when due; and (C) Lender expenses in the amount of $36,119.25 when
due (collectively, the delinquent amounts set forth in clauses (A), (B) and (C) of this clause (i), the “Overdue Amounts”),
and (ii) Section 8.2(a) of the Loan Agreement as a result of the Borrower’s failure to: (A) timely provide Monthly Financial
Statements for the months of December 2015, January 2016, February 2016, March 2016 and April 2016 in accordance with Section 6.2(a)
of the Loan Agreement and (B) timely provide a Compliance Certificate for the months of December 2015, January 2016, February 2016,
March 2016 and April 2016 in accordance with Section 6.2(b) of the Loan Agreement (collectively, with the Liquidity Event of Default
and the Revenue Event of Default, the “Specified Events of Default”);

 

     

     

    

 

WHEREAS, on
February 25, 2016, the Agent, on behalf of itself and the Lenders, delivered a Reservation of Rights Letter to the Borrower and
provided, at the request of the Borrower, an Advance to the Borrower in the amount of $500,000 (the “Overadvance”);
and

 

WHEREAS, the
Borrower has requested that the Agent and the Lenders, and the Agent and the Lenders have agreed to, subject to the terms and conditions
set forth in this Amendment, (i) waive the Specified Events of Default, (ii) capitalize the Overdue Amounts and add such Overdue
Amounts to the outstanding principal amount of the Revolving Line such that, after giving effect to this Amendment, the outstanding
principal amount of Advances under the Revolving Line is equal to $3,243,188.28 and (iii) amend certain provisions of the Loan
Agreement, in each case, effective as of the Effective Date.

 

NOW, THEREFORE,
in consideration of the foregoing premises, and other good and valuable consideration, the receipt and legal sufficiency of which
are hereby acknowledged, the parties hereto hereby agree as follows:

 

1.Definitions.
Unless otherwise defined herein, capitalized terms used herein shall have the meanings assigned to them in the Loan Agreement.

 

2.Limited Waiver.
Subject to the terms, and the timely satisfaction of each of the conditions precedent in Section 4 of this Amendment, the
Agent and the Lenders hereby waive the Specified Events of Default.

 

3.Amendments
to the Loan Agreement. Effective as of the Effective Date, the Loan Agreement is amended as follows:

 

(a)Capitalization
of Overdue Amounts. The Overdue Amounts are hereby deemed to be Advances that are capitalized and treated as additional principal
obligations under the Revolving Line subject to the terms of the Loan Agreement and shall accrue interest at the same rates (including
the Default Rate) as are applicable to the Advances under the Loan Agreement and shall form part of the Obligations under the Loan
Agreement and the other Loan Documents and shall be payable in full, in Cash, on the Revolving Line Maturity Date. The capitalization
of the Overdue Amounts on the Ninth Amendment Effective Date satisfies the Borrower’s obligations with respect to such Overdue
Amounts on such date, but for the avoidance of doubt, does not relieve the Borrower’s obligations to repay the full amount
of the Advances in full, in Cash, on the Revolving Line Maturity Date, which amount of Advances has been increased by the aggregate
amount of the Overdue Amounts on and as of the Ninth Amendment Effective Date.

 

(b)Section
2.2(c) of the Loan Agreement is amended by deleting the existing text of such subsection in its entirety and inserting, in lieu
thereof, the following:

 

“(c)Mandatory
Prepayments. If the Term Loan is accelerated following the occurrence of an Event of Default, Borrower shall immediately pay
to each Lender in accordance with its respective Pro Rata Share, an amount equal to the sum of: (i) all outstanding principal of
the Term Loan and all other Obligations, and all accrued and unpaid interest thereon, plus (ii) the Final Payment, plus
(iii) the Prepayment Fee, plus (iv) all other sums that shall have become due and payable hereunder, including Lender Expenses.”

 

    2

     

    

 

(c)Section
2.6(a) of the Loan Agreement is amended by deleting the existing text of such subsection in its entirety and inserting, in lieu
thereof, the following:

 

“(a)Availability.
Subject to the terms and conditions of this Agreement and to deduction of Reserves, the Lenders agree, severally and not jointly,
to make Advances not exceeding the Availability Amount to the Borrower according to each Lender’s Pro Rata Share of the “Revolving
Loan Commitment” as set forth on Schedule 1 hereto. Amounts borrowed under the Revolving Line may be repaid and, prior
to the Revolving Line Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein. Notwithstanding
the foregoing, in connection with each prepayment or repayment of the principal amount of any Advances under the Revolving Line,
the amount of the Revolving Line (and the obligations of the Lenders to fund Advances thereunder) will be permanently reduced,
on the date of such prepayment or repayment, on a dollar for dollar basis in the amount of such prepayment or repayment.”

 

(d)Section
6.9 of the Loan Agreement is hereby deleted in its entirety.

 

(e)Section
7.1 of the Loan Agreement is hereby amended by deleting the existing text of such subsection in its entirety and inserting, in
lieu thereof, the following:

 

“7.1Dispositions.
Convey, sell, lease, transfer, assign, or otherwise dispose of (collectively, together with, for the avoidance of doubt, any exclusive
or non-exclusive license of all or any portion of the property or assets of the Borrower or any of its Subsidiaries, “Transfer”),
or permit any of its Subsidiaries to Transfer, all or any part of its business or property, except for Transfers (a) of Inventory
in the ordinary course of business; (b) of worn-out or obsolete Equipment that is, in the reasonable judgment of Borrower,
no longer economically practicable to maintain or useful in the ordinary course of business of Borrower; (c) consisting of Permitted
Liens and Permitted Investments; (d) consisting of the sale or issuance of any stock of Borrower permitted under Section 7.2
of this Agreement; or (e) consisting of Borrower’s use or transfer of money or Cash Equivalents in the ordinary course
of its business for the payment of ordinary course business expenses in a manner that is not prohibited by the terms of this Agreement
or the other Loan Documents.”

 

(f)Section
8.2(a) of the Loan Agreement is amended by deleting the existing text of such subsection in its entirety and inserting, in lieu
thereof, the following:

 

“Borrower
fails or neglects to perform any obligation in Sections 3.5, 6.2, 6.5, 6.7, 6.8, 6.10(c), 6.12, 6.13 or violates any covenant in
Section 7; or”

 

(g)Section
14.1 of the Loan Agreement is amended by deleting the existing text of the definitions of “Borrowing Base” and “Revolving
Line” in their entirety and inserting, in lieu thereof, the following:

 

    3

     

    

 

“Borrowing
Base” is the product of the Advance Rate multiplied by the Eligible Accounts; provided, however, that Agent
has the right to adjust the foregoing in its good faith business judgment to mitigate the impact of events, conditions, contingencies,
or risks which may adversely affect the Collateral or its value; and provided further, that, the proceeds for any sale of the Borrower's
intellectual property shall not be included for purposes of calculating the Borrowing Base; provided, further, that
until June 30, 2017, the Borrowing Base shall be equal to the Revolving Line.

 

“Revolving
Line” is an aggregate principal amount not to exceed $3,243,188.28 outstanding at any time, subject to permanent reduction
from time to time in accordance with Section 2.6(a).

 

“Revolving
Line Maturity Date” is November 1, 2017.

 

(h)Section
14.1 of the Loan Agreement is further amended by deleting in their entirety the existing text of the definitions of:

 

“Minimum
Liquidity Ratio”;

 

“ICE
COLD Excess Proceeds”;

 

“ICE
COLD Sale”; and

 

“ICE
COLD Trigger Event”

 

(i)Section
14.1 of the Loan Agreement is further amended by inserting the following new definitions in appropriate alphabetical order:

 

“Ninth
Amendment Effective Date” means June 3, 2016.

 

“Overdue
Amounts” means an aggregate amount equal to $468,188.28, which amount was capitalized and added to the outstanding balance
of the outstanding Advances under the Revolving Line as of the Ninth Amendment Effective Date.

 

4.Conditions
Precedent. The effectiveness of this Amendment is subject to the satisfaction of the following conditions precedent:

 

(a)receipt
by the Agent of a copy of this Amendment, duly executed and delivered by the Borrower and the Required Lenders;

 

(b) receipt
by the Agent of any other documents or agreements reasonably requested by the Agent in connection with the transactions contemplated
by this Amendment; and

 

(c)the
truth and accuracy of the representations and warranties contained in Section 6 of this Amendment.

 

    4

     

    

 

5.Reaffirmation.
The Borrower hereby reaffirms each of the agreements, covenants and undertakings set forth in the Loan Agreement and each and every
other Loan Document as of the Effective Date as if the Borrower was making said agreements, covenants and undertakings as of the
Effective Date.

 

6.Representations,
Warranties, Covenants and Acknowledgments. To induce the Agent and Lenders to enter into this Amendment, the Borrower hereby:

 

(a)represents
and warrants that (i) as of the Effective Date, all of the representations and warranties made or deemed to be made under the Loan
Documents are true and correct in all material respects (other than any representation or warranty that is qualified by materiality
or Material Adverse Effect, in which case such representation or warranty is true and correct in all respects) on and as of the
Effective Date to the same extent as though made on and as of the Effective Date, except to the extent such representations and
warranties specifically relate to an earlier date, in which case such representations and warranties were true and correct in all
material respects (other than any representation or warranty that is qualified by materiality or Material Adverse Effect, in which
case such representation or warranty was true and correct in all respects) on and as of such earlier date; (ii) as of the Effective
Date, after giving effect to the terms of this Amendment, there exists no Default or Event of Default under the Loan Agreement
or any of the other Loan Documents; (iii) the Borrower has the corporate power and is duly authorized to enter into, deliver and
perform this Amendment; and (iv) this Amendment is the legal, valid and binding obligation of the Borrower enforceable against
the Borrower in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar
laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability;

 

(b)acknowledges
and agrees that (i) this Amendment does not and shall not create (nor shall the Borrower or any of its Subsidiaries rely upon the
existence of or claim or assert that there exists) any obligation of the Agent or any Lender to consider or agree to any further
consent, waiver or amendment with respect to any Loan Document and, in the event that the Agent or any Lender subsequently agrees
to consider any further consent, waiver or amendment with respect to any Loan Document, neither this Amendment nor any other conduct
of the Agent or any Lender shall be of any force or effect on the Agent’s or such Lender’s consideration or decision
with respect thereto, and neither the Agent nor any Lender shall have any further obligation whatsoever to consider or agree to
any further consent, waiver or amendment with respect to any Loan Document; and (ii) except as expressly set forth in this Amendment,
the Agent and each Lender reserves all of their respective rights pursuant to the Loan Agreement and all other Loan Documents;

 

(c)further
acknowledges and agrees that the Agent’s and Lenders’ agreement to waive and amend the specific matters addressed in
this Amendment, do not and shall not create (nor shall the Borrower or any of its Subsidiaries rely upon the existence of or claim
or assert that there exists) any obligation of the Agent or any Lender to consider or agree to any further waivers, consents or
amendments and, in the event that the Agent or any Lender subsequently agrees to consider any further waivers, consents or amendments,
neither this Amendment nor any other conduct of the Agent or any Lender shall be of any force or effect on the Agent’s or
any Lender’s consideration or decision with respect to any such requested consent;

 

    5

     

    

 

(d)further
acknowledges and agrees that no right of offset, defense, counterclaim, claim, cause of action or objection in favor of the Borrower
against any Lender exists arising out of or with respect to (i) this Amendment, the Loan Agreement or any other Loan Document,
or (ii) any other documents now or heretofore evidencing, securing or in any way relating to the foregoing; and

 

(e)further
acknowledges and agrees that this Amendment shall be deemed a Loan Document for all purposes under the Loan Agreement and the other
Loan Documents.

 

7.Effect of
Non-Compliance. To the extent any representation or warranty made herein shall be untrue in any material respect, such occurrence
shall be deemed an Event of Default pursuant to the terms of the Loan Agreement and the other Loan Documents.

 

8.Release; Indemnitees.

 

(a)In
further consideration of the execution of this Amendment by the Agent and each Lender, the Borrower, individually and on behalf
of its successors (including, without limitation, any trustees acting on behalf of the Borrower and any debtor-in-possession with
respect to the Borrower), assigns, subsidiaries and Affiliates, hereby forever releases the Agent, each Lender and their respective
successors, assigns, parents, subsidiaries, Affiliates, officers, employees, directors, agents and attorneys (collectively, the
“Releasees”) from any and all debts, claims, demands, liabilities, responsibilities, disputes, causes, damages,
actions and causes of actions (whether at law or in equity) and obligations of every nature whatsoever, whether liquidated or unliquidated,
whether known or unknown, matured or unmatured, fixed or contingent (collectively, “Claims”) that the Borrower
may have against the Releasees which arise from or relate to any actions which the Releasees may have taken or omitted to take
in connection with the Loan Agreement or the other Loan Documents prior to the Effective Date, including, without limitation, with
respect to the Obligations, any Collateral, the Loan Agreement, any other Loan Document and any third parties liable in whole or
in part for the Obligations. This provision shall survive and continue in full force and effect whether or not the Borrower shall
satisfy all other provisions of this Amendment, the Loan Documents or the Loan Agreement, including payment in full of all Obligations.

 

(b)The
Borrower hereby further agrees to indemnify and hold the Releasees harmless with respect to any and all liabilities, obligations,
losses, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever incurred by the
Releasees, or any of them, whether direct, indirect or consequential, as a result of or arising from or relating to any proceeding
by, or on behalf of any Person, including, without limitation, officers, directors, agents, trustees, creditors, partners or shareholders
of the Borrower or any parent, Subsidiary or Affiliate of the Borrower, whether threatened or initiated, asserting any claim for
legal or equitable remedy under any statutes, regulation or common law principle arising from or in connection with the negotiation,
preparation, execution, delivery, performance, administration and enforcement of this Amendment. The foregoing indemnity shall
survive the payment in full of the Obligations and the termination of this Amendment, the Loan Agreement and the other Loan Documents.

 

    6

     

    

 

9.Effect; Relationship
of Parties. Except as expressly modified hereby, the Loan Agreement and each other Loan Document shall be and remain in full
force and effect as originally written, and shall constitute the legal, valid, binding and enforceable obligations of the Borrower
to the Agent and Lenders. The relationship of the Agent and Lenders, on the one hand, and the Borrower, on the other hand, has
been and shall continue to be, at all times, that of creditor and debtor and not as joint venturers or partners. Nothing contained
in this Amendment, any instrument, document or agreement delivered in connection herewith or in the Loan Agreement or any of the
other Loan Documents shall be deemed or construed to create a fiduciary relationship between or among the parties.

 

10.Expenses.
The Borrower shall pay the Agent all of its actual, documented and reasonable costs and expenses in connection with the preparation,
negotiation, execution and enforcement of this Amendment in accordance with the Loan Agreement (including, without limitation,
all actual, documented and reasonable fees, expenses and disbursements of counsel to the Agent).

 

11.Miscellaneous.
This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of
which, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute
but one and the same instrument. This Amendment shall be binding upon and inure to the benefit of the successors and permitted
assigns of the parties hereto. California law governs this Amendment, without regard to principles of conflicts of law. This Amendment
embodies the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes
all prior oral or written negotiations, agreements and understandings of the parties with respect to the subject matter hereof.
Time is of the essence of this Amendment.

 

[remainder of page intentionally blank]

 

    7

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be executed as of the Effective Date.

 

	BORROWER	 
	 	 
	TRANSGENOMIC, INC.	 
	 	 
	 	 	 
	By:	/s/ Paul Kinnon	 	 
	Name:  	Paul Kinnon	 
	Title:	President & CEO	 
	 	 	 
	AGENT:	 
	 	 	 
	THIRD SECURITY SENIOR STAFF 2008 LLC	 
	As Agent for Lenders	 
	 	 
	 	 	 
	By:	/s/ Randal J. Kirk	 	 
	Name:  	Randal J. Kirk	 
	Title:	Manager, Third Security, LLC, which is	 
	 	the Manager of Third Security Senior	 
	 	Staff 2008 LLC	 
	 	 	 
	LENDERS:	 
	 	 	 
	THIRD SECURITY SENIOR STAFF 2008 LLC	 
	 	 
	 	 	 
	By:	/s/ Randal J. Kirk	 	 
	 	Randal J. Kirk	 
	 	Manager, Third Security, LLC, which is the	 
	 	Manager of Third Security Senior Staff 2008 LLC	 
	 	 	 
	THIRD SECURITY STAFF 2010 LLC	 
	 	 
	 	 	 
	By:	/s/ Randal J. Kirk	 	 
	 	Randal J. Kirk	 
	 	Manager, Third Security, LLC, which is the	 
	 	Manager of Third Security Staff 2010 LLC	 
	 	 	 
	THIRD SECURITY INCENTIVE 2010 LLC	 
	 	 	 
	 	 	 
	By:	/s/ Randal J. Kirk	 	 
	 	Randal J. Kirk	 
	 	Manager, Third Security, LLC, which is the	 
	 	Manager of Third Security Incentive 2010 LLC	 

 

[Signature Page to Ninth Amendment]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00259-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00259-of-00352.parquet"}]]