Document:

Exhibit 10.9

 

EVgo
Inc.

2021
LONG TERM INCENTIVE PLAN

 

 

1.             Purpose.
The purpose of the EVgo Inc. 2021 Long Term Incentive Plan (the “Plan”) is to provide a means through which
(a) EVgo Inc., a Delaware corporation (the “Company”), and the Affiliates may attract, retain and motivate
qualified persons as employees, directors, consultants, and other individual service providers, thereby enhancing the profitable growth
of the Company and the Affiliates and (b) persons upon whom the responsibilities of the successful administration and management of the
Company and the Affiliates rest, and whose present and potential contributions to the Company and the Affiliates are of importance, can
acquire and maintain stock ownership or awards the value of which is tied to the performance of the Company, thereby strengthening their
concern for the Company and the Affiliates. Accordingly, the Plan provides for the grant of Options, SARs, Restricted Stock, Restricted
Stock Units, Stock Awards, Dividend Equivalents, Other Stock-Based Awards, Cash Awards, Substitute Awards, or any combination of the
foregoing, as determined by the Committee in its sole discretion.

 

2.             Definitions.
For purposes of the Plan, the following terms shall be defined as set forth below:

 

(a)              
“Affiliate” means, with respect to any person or entity, any corporation, partnership, limited liability
company, limited liability partnership, association, trust or other organization that, directly or indirectly, controls, is controlled
by, or is under common control with, such person or entity. For purposes of the preceding sentence, “control” (including,
with correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to
any entity or organization, shall mean the possession, directly or indirectly, of the power (i) to vote more than 50% of the securities
having ordinary voting power for the election of directors of the controlled entity or organization or (ii) to direct or cause the direction
of the management and policies of the controlled entity or organization, whether through the ownership of voting securities, by contract,
or otherwise.

 

(b)              
“ASC Topic 718” means the Financial Accounting Standards Board Accounting Standards Codification Topic
718, Compensation – Stock Compensation, as amended or any successor accounting standard.

 

(c)              
“Award” means any Option, SAR, Restricted Stock, Restricted Stock Unit, Stock Award, Dividend Equivalent,
Other Stock-Based Award, Cash Award, or Substitute Award, together with any other right or interest, granted under the Plan.

 

(d)              
“Award Agreement” means any written instrument (including any employment, severance or change in control
agreement) that sets forth the terms, conditions, restrictions and/or limitations applicable to an Award, in addition to those set forth
under the Plan.

 

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

 

(f)               
“Cash Award” means an Award denominated in cash granted under Section 6(i).

 

     

     

    

 

(g)              
 “Change in Control” means, except as otherwise provided in an Award Agreement, the occurrence of any
of the following events after the Effective Date:

 

(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) of
beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of either (x) the then-outstanding
shares of Stock (the “Outstanding Stock”) or (y) 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 clause (i), the following acquisitions shall not constitute a Change in Control:
(A) any acquisition directly from the Company, (B) any acquisition by the Company or its subsidiaries, (C) any acquisition by any employee
benefit plan (or related trust) sponsored or maintained by the Company or any entity controlled by the Company or (D) any acquisition
by any entity pursuant to a transaction that complies with clauses (A), (B) and (C) of clause (iii) below;

 

(ii)             
The individuals constituting the Board on the Effective Date (the “Incumbent Directors”) cease for any
reason (other than death or disability) to constitute at least majority of the Board; provided, however, that any individual
becoming a director subsequent to the Effective Date whose election, or nomination for election, by the Company’s stockholders was
approved by a vote of at least two-thirds of the Incumbent Directors (either by a specific vote or by approval of the proxy statement
of the Company in which such person is named as a nominee for director, without objection to such nomination) will be considered as though
such individual were an Incumbent Director, but excluding, for purposes of this proviso, any such individual whose initial assumption
of office occurs as a result of an actual or threatened proxy contest with respect to election or removal of directors or other actual
or threatened solicitation of proxies or consents by or on behalf of a “person” (as used in Section 13(d) of the Exchange
Act), in each case, other than the Board, which individual, for the avoidance of doubt, shall not be deemed to be an Incumbent Director
for purposes of this definition, regardless of whether such individual was approved by a vote of at least two-thirds of the Incumbent
Directors;

 

(iii)            Consummation
of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company
or an acquisition of assets of another entity (a “Business Combination”), in each case, unless, following
such Business Combination, (A) the Outstanding Stock and Outstanding Company Voting Securities immediately prior to such Business
Combination represent or are converted into or exchanged for securities which represent or are convertible into more than 50% of,
respectively, the then-outstanding shares of common stock or common equity interests and the combined voting power of the
then-outstanding voting securities entitled to vote generally in the election of directors or other governing body, as the case may
be, of the entity resulting from such Business Combination (including, without limitation, an entity which as a result of such
transaction owns the Company, or all or substantially all of the Company’s assets either directly or through one or more
subsidiaries), (B) no individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act),
excluding the Company, its subsidiaries and any employee benefit plan (or related trust) sponsored or maintained by the Company or
the entity resulting from such Business Combination (or any entity controlled by either the Company or the entity resulting from
such Business Combination), beneficially owns, directly or indirectly, 50% or more of, respectively, the then-outstanding shares of
common stock or common equity interests of the entity resulting from such Business Combination or the combined voting power of the
then-outstanding voting securities entitled to vote generally in the election of directors or other governing body of such entity
except to the extent that such ownership results solely from direct or indirect ownership of the Company that existed prior to the
Business Combination, and (C) at least a majority of the members of the board of directors or similar governing body of the entity
resulting from such Business Combination were Incumbent Directors at the time of the execution of the initial agreement, or of the
action of the Board, providing for such Business Combination; or

 

(iv)            
Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company.

 

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Notwithstanding any provision of this Section
2(g), for purposes of an Award that provides for a deferral of compensation under the Nonqualified Deferred Compensation Rules, to
the extent the impact of a Change in Control on such Award would subject a Participant to additional taxes under the Nonqualified Deferred
Compensation Rules, a Change in Control described in subsection (i), (ii), (iii) or (iv) above with respect to such Award will mean both
a Change in Control and a “change in the ownership of a corporation,” “change in the effective control of a corporation,”
or a “change in the ownership of a substantial portion of a corporation’s assets” within the meaning of the Nonqualified
Deferred Compensation Rules as applied to the Company.

 

(h)              
“Change in Control Price” means the amount determined in the following clause (i), (ii), (iii), (iv)
or (v), whichever the Committee determines is applicable, as follows: (i) the price per share offered to holders of Stock in any
merger or consolidation, (ii) the per share Fair Market Value of the Stock immediately before the Change in Control or other event
without regard to assets sold in the Change in Control or other event and assuming the Company has received the consideration paid for
the assets in the case of a sale of the assets, (iii) the amount distributed per share of Stock in a dissolution transaction, (iv) the
price per share offered to holders of Stock in any tender offer or exchange offer whereby a Change in Control or other event takes place,
or (v) if such Change in Control or other event occurs other than pursuant to a transaction described in clauses (i), (ii), (iii),
or (iv) of this Section 2(h), the value per share of the Stock that may otherwise be obtained with respect to such Awards or to
which such Awards track, as determined by the Committee as of the date determined by the Committee to be the date of cancellation and
surrender of such Awards. In the event that the consideration offered to stockholders of the Company in any transaction described in this
Section 2(h) or in Section 8(e) consists of anything other than cash, the Committee shall determine the fair cash equivalent
of the portion of the consideration offered which is other than cash and such determination shall be binding on all affected Participants
to the extent applicable to Awards held by such Participants.

 

(i)                
“Code” means the Internal Revenue Code of 1986, as amended from time to time, including the guidance
and regulations promulgated thereunder and successor provisions, guidance and regulations thereto.

 

(j)                
“Committee” means a committee of two or more directors designated by the Board to administer the Plan;
provided, however, that, unless otherwise determined by the Board, the Committee shall consist solely of two or more Qualified
Members.

 

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(k)              
 “Dividend Equivalent” means a right, granted to an Eligible Person under Section 6(g), to receive
cash, Stock, other Awards or other property equal in value to dividends paid with respect to a specified number of shares of Stock, or
other periodic payments.

 

(l)                
“Effective Date” means March 26, 2021.

 

(m)            
“Eligible Person” means any individual who, as of the date of grant of an Award, is an officer or employee
of the Company or of any Affiliate, and any other person who provides services to the Company or any Affiliate, including directors of
the Company; provided, however, that, any such individual must be an “employee” of the Company or any of its
parents or subsidiaries within the meaning of General Instruction A.1(a) to Form S-8 if such individual is granted an Award that may be
settled in Stock. An employee on leave of absence may be an Eligible Person.

 

(n)              
“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, including the
guidance, rules and regulations promulgated thereunder and successor provisions, guidance, rules and regulations thereto.

 

(o)              
“Fair Market Value” of a share of Stock means, as of any specified date, (i) if the Stock is listed on
a national securities exchange, the closing sales price of the Stock, as reported on the stock exchange composite tape on that date (or
if no sales occur on such date, on the last preceding date on which such sales of the Stock are so reported); (ii) if the Stock is not
traded on a national securities exchange but is traded over the counter on such date, the average between the reported high and low bid
and asked prices of Stock on the most recent date on which Stock was publicly traded on or preceding the specified date; or (iii) in the
event Stock is not publicly traded at the time a determination of its value is required to be made under the Plan, the amount determined
by the Committee in its discretion in such manner as it deems appropriate, taking into account all factors the Committee deems appropriate,
including the Nonqualified Deferred Compensation Rules. Notwithstanding this definition of Fair Market Value, with respect to one or more
Award types, or for any other purpose for which the Committee must determine the Fair Market Value under the Plan, the Committee may elect
to choose a different measurement date or methodology for determining Fair Market Value so long as the determination is consistent with
the Nonqualified Deferred Compensation Rules and all other applicable laws and regulations.

 

(p)              
 “ISO” means an Option intended to be and designated as an “incentive stock option” within
the meaning of Section 422 of the Code.

 

(q)              
“Nonqualified Deferred Compensation Rules” means the limitations and requirements of Section 409A of
the Code, as amended from time to time, including the guidance and regulations promulgated thereunder and successor provisions, guidance
and regulations thereto.

 

(r)               
“Nonstatutory Option” means an Option that is not an ISO.

 

(s)               
“Option” means a right, granted to an Eligible Person under Section 6(b), to purchase Stock at
a specified price during specified time periods, which may either be an ISO or a Nonstatutory Option.

 

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(t)                
 “Other Stock-Based Award” means an Award granted to an Eligible Person under Section 6(h).

 

(u)              
“Participant” means a person who has been granted an Award under the Plan that remains outstanding, including
a person who is no longer an Eligible Person.

 

(v)              
“Qualified Member” means a member of the Board who is (i) a “non-employee director” within
the meaning of Rule 16b-3(b)(3), and (ii) “independent” under the listing standards or rules of the securities exchange upon
which the Stock is traded, but only to the extent such independence is required in order to take the action at issue pursuant to such
standards or rules.

 

(w)            
“Restricted Stock” means Stock granted to an Eligible Person under Section 6(d) that is subject
to certain restrictions and to a risk of forfeiture.

 

(x)              
“Restricted Stock Unit” means a right, granted to an Eligible Person under Section 6(e), to receive
Stock, cash or a combination thereof at the end of a specified period (which may or may not be coterminous with the vesting schedule of
the Award).

 

(y)              
“Rule 16b-3” means Rule 16b-3, promulgated by the SEC under Section 16 of the Exchange Act.

 

(z)              
“SAR” means a stock appreciation right granted to an Eligible Person under Section 6(c).

 

(aa)           
“SEC” means the Securities and Exchange Commission.

 

(bb)          
“Securities Act” means the Securities Act of 1933, as amended from time to time, including the guidance,
rules and regulations promulgated thereunder and successor provisions, guidance, rules and regulations thereto.

 

(cc)           
“Stock” means the Company’s Class A Common Stock, par value $0.0001 per share, and such other securities
as may be substituted (or re-substituted) for Stock pursuant to Section 8.

 

(dd)          
“Stock Award” means unrestricted shares of Stock granted to an Eligible Person under Section 6(f).

 

(ee)           
“Substitute Award” means an Award granted under Section 6(j).

 

3.             Administration.

 

(a)              
Authority of the Committee. The Plan shall be administered by the Committee except to the extent the Board elects to administer
the Plan, in which case references herein to the “Committee” shall be deemed to include references to the “Board.”
Subject to the express provisions of the Plan, Rule 16b-3 and other applicable laws, the Committee shall have the authority, in its sole
and absolute discretion, to:

 

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(i)                
 designate Eligible Persons as Participants;

 

(ii)             
determine the type or types of Awards to be granted to an Eligible Person;

 

(iii)            
determine the number of shares of Stock or amount of cash to be covered by Awards;

 

(iv)           
determine the terms and conditions of any Award, including whether, to what extent and under what circumstances Awards may be vested,
settled, exercised, cancelled or forfeited (including conditions based on continued employment or service requirements or the achievement
of one or more performance goals);

 

(v)             
modify, waive or adjust any term or condition of an Award that has been granted, which may include the acceleration of vesting,
waiver of forfeiture restrictions, modification of the form of settlement of the Award (for example, from cash to Stock or vice versa),
early termination of a performance period, or modification of any other condition or limitation regarding an Award;

 

(vi)            
determine the treatment of an Award upon a termination of employment or other service relationship;

 

(vii)           
impose a holding period with respect to an Award or the shares of Stock received in connection with an Award;

 

(viii)          
interpret and administer the Plan and any Award Agreement;

 

(ix)            
correct any defect, supply any omission or reconcile any inconsistency in the Plan, in any Award, or in any Award Agreement; and

 

(x)             
make any other determination and take any other action that the Committee deems necessary or desirable for the administration of
the Plan.

 

The express grant of any specific
power to the Committee, and the taking of any action by the Committee, shall not be construed as limiting any power or authority of the
Committee. Any action of the Committee shall be final, conclusive and binding on all persons, including the Company, Affiliates, stockholders,
Participants, beneficiaries, and permitted transferees under Section 7(a) or other persons claiming rights from or through a Participant.
The Committee’s determinations need not be uniform with respect to Participants, and need not apply consistently across Awards.

 

(b)               Exercise
of Committee Authority. At any time that a member of the Committee is not a Qualified Member, any action of the Committee
relating to an Award granted or to be granted to an Eligible Person who is then subject to Section 16 of the Exchange Act in respect
of the Company where such action is not taken by the full Board may be taken either (i) by a subcommittee, designated by the
Committee, composed solely of two or more Qualified Members, or (ii) by the Committee but with each such member who is not a
Qualified Member abstaining or recusing himself or herself from such action; provided, however, that upon such
abstention or recusal, the Committee remains composed solely of two or more Qualified Members. Such action, authorized by such a
subcommittee or by the Committee upon the abstention or recusal of such non-Qualified Member(s), shall be the action of the
Committee for purposes of the Plan. For the avoidance of doubt, the full Board may take any action relating to an Award granted or
to be granted to an Eligible Person who is then subject to Section 16 of the Exchange Act in respect of the Company.

 

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(c)              
Delegation of Authority. The Committee may delegate any or all of its powers and duties under the Plan to a subcommittee
of directors or to any officer of the Company, including the power to perform administrative functions and grant Awards; provided,
that such delegation does not (i) violate state or corporate law, or (ii) result in the loss of an exemption under Rule 16b-3(d)(1) for
Awards granted to Participants subject to Section 16 of the Exchange Act in respect of the Company. Upon any such delegation, all references
in the Plan to the “Committee,” other than in Section 8, shall be deemed to include any subcommittee or officer of
the Company to whom such powers have been delegated by the Committee. Any such delegation shall not limit the right of such subcommittee
members or such an officer to receive Awards; provided, however, that such subcommittee members and any such officer may
not grant Awards to himself or herself, a member of the Board, or any executive officer of the Company or an Affiliate, or take any action
with respect to any Award previously granted to himself or herself, a member of the Board, or any executive officer of the Company or
an Affiliate. The Committee may also appoint agents who are not executive officers of the Company or members of the Board to assist in
administering the Plan, provided, however, that such individuals may not be delegated the authority to grant or modify any
Awards that will, or may, be settled in Stock.

 

(d)              
Limitation of Liability. The Committee and each member thereof shall be entitled to, in good faith, rely or act upon any
report or other information furnished to him or her by any officer or employee of the Company or any Affiliate, the Company’s legal
counsel, independent auditors, consultants or any other agents assisting in the administration of the Plan. Members of the Committee and
any officer or employee of the Company or any Affiliate acting at the direction or on behalf of the Committee shall not be personally
liable for any action or determination taken or made in good faith with respect to the Plan, and shall, to the fullest extent permitted
by law, be indemnified and held harmless by the Company with respect to any such action or determination.

 

(e)               Participants
in Non-U.S. Jurisdictions. Notwithstanding any provision of the Plan to the contrary, to comply with applicable laws in
countries other than the United States in which the Company or any Affiliate operates or has employees, directors or other service
providers from time to time, or to ensure that the Company complies with any applicable requirements of foreign securities
exchanges, the Committee, in its sole discretion, shall have the power and authority to: (i) determine which of the Affiliates shall
be covered by the Plan; (ii) determine which Eligible Persons outside the United States are eligible to participate in the Plan;
(iii) modify the terms and conditions of any Award granted to Eligible Persons outside the United States to comply with applicable
foreign laws or listing requirements of any foreign exchange; (iv) establish sub-plans and modify exercise procedures and other
terms and procedures, to the extent such actions may be necessary or advisable (any such sub-plans and/or modifications shall be
attached to the Plan as appendices), provided, however, that no such sub-plans and/or modifications shall increase the
share limitations contained in Section 4(a); and (v) take any action, before or after an Award is granted, that it deems
advisable to comply with any applicable governmental regulatory exemptions or approval or listing requirements of any such foreign
securities exchange. For purposes of the Plan, all references to foreign laws, rules, regulations or taxes shall be references to
the laws, rules, regulations and taxes of any applicable jurisdiction other than the United States or a political subdivision
thereof.

 

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4.             Stock
Subject to the Plan.

 

(a)              
Number of Shares Available for Delivery. Subject to adjustment in a manner consistent with Section 8, 33,918,000
shares of Stock are reserved and available for delivery with respect to Awards, and such total shall be available for the issuance of
shares upon the exercise of ISOs.

 

(b)              
Availability of Shares Not Delivered under Awards. If all or any portion of an Award expires or is cancelled, forfeited,
exchanged, settled in cash or otherwise terminated, the shares of Stock subject to such Award (including (i) shares forfeited with respect
to Restricted Stock, and (ii) the number of shares withheld or surrendered to the Company in payment of any exercise or purchase price
of an Award or taxes relating to Awards) shall not be considered “delivered shares” under the Plan, shall be available for
delivery with respect to Awards. If an Award may be settled only in cash, such Award need not be counted against any share limit under
this Section 4.

 

(c)              
Shares Available Following Certain Transactions. Substitute Awards granted in accordance with applicable stock exchange
requirements and in substitution or exchange for awards previously granted by a company acquired by the Company or any subsidiary or with
which the Company or any subsidiary combines shall not reduce the shares authorized for issuance under the Plan or the limitations on
grants to non-employee members of the Board under Section 5(b), nor shall shares subject to such Substitute Awards be added to
the shares available for issuance under the Plan as provided above (whether or not such Substitute Awards are later cancelled, forfeited
or otherwise terminated).

 

(d)              
Stock Offered. The shares of Stock to be delivered under the Plan shall be made available from (i) authorized but unissued
shares of Stock, (ii) Stock held in the treasury of the Company, or (iii) previously issued shares of Stock reacquired by the Company,
including shares purchased on the open market.

 

5.             Eligibility;
Award Limitations for Non-Employee Members of the Board.

 

(a)              
Awards may be granted under the Plan only to Eligible Persons.

 

(b)               In
each calendar year during any part of which the Plan is in effect, a non-employee member of the Board may not be granted Awards for
such individual’s service on the Board having a value (determined, if applicable, pursuant to ASC Topic 718) on the date of
grant in excess of $750,000; provided, that for any calendar year in which a non-employee member of the Board (i) first
commences service on the Board, (ii) serves on a special committee of the Board, or (iii) serves as lead director or chairman of the
Board, additional Awards may be granted to such non-employee member of the Board in excess of such limit; provided, further,
that the limit set forth in this Section 5(b) shall be applied without regard to (A) cash fees paid to a non-employee member
of the Board during such calendar year (or grants of Awards, if any, made to a non-employee member of the Board in lieu of all or
any portion of such cash fees) or (B) grants of Awards, if any, made to a non-employee member of the Board during any period in
which such individual was an employee of the Company or any Affiliate or was otherwise providing services to the Company or to any
Affiliate other than in the capacity as a director of the Company.

 

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6.             Specific
Terms of Awards.

 

(a)              
General. Awards may be granted on the terms and conditions set forth in this Section 6. Awards granted under the
Plan may, in the discretion of the Committee, be granted either alone, in addition to, or in tandem with any other Award. In addition,
the Committee may impose on any Award or the exercise thereof, at the date of grant or thereafter (subject to Section 10), such
additional terms and conditions, not inconsistent with the provisions of the Plan, as the Committee shall determine, including subjecting
such awards to service- or performance-based vesting conditions. Without limiting the scope of the preceding sentence, with respect to
any performance-based conditions, (i) the Committee may use such business criteria and other measures of performance as it may deem appropriate
in establishing any performance goals applicable to an Award, and (ii) any such performance goals may relate to the performance of the
Participant, the Company (on a consolidated basis), or to specified subsidiaries, business or geographical units or operating areas of
the Company, (iii) the performance period or periods over which performance goals will be measured shall be established by the Committee,
and (iv) any such performance goals and performance periods may differ among Awards granted to any one Participant or to different Participants. 
Except as otherwise provided in an Award Agreement, the Committee may exercise its discretion to reduce or increase the amounts payable
under any Award.

 

(b)              
Options. The Committee is authorized to grant Options, which may be designated as either ISOs or Nonstatutory Options, to
Eligible Persons on the following terms and conditions:

 

(i)                
Exercise Price. Each Award Agreement evidencing an Option shall state the exercise price per share of Stock (the “Exercise
Price”) established by the Committee; provided, however, that except as provided in Section 6(j) or
in Section 8, the Exercise Price of an Option shall not be less than the greater of (A) the par value per share of the Stock or
(B) 100% of the Fair Market Value per share of the Stock as of the date of grant of the Option (or in the case of an ISO granted to an
individual who owns stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or its parent
or any of its subsidiaries, 110% of the Fair Market Value per share of the Stock on the date of grant).

 

(ii)              Time
and Method of Exercise; Other Terms. The Committee shall determine the methods by which the Exercise Price may be paid or deemed
to be paid, the form of such payment, including cash or cash equivalents, Stock (including previously owned shares or through a
cashless exercise, i.e., “net settlement”, a broker-assisted exercise, or other reduction of the amount of shares
otherwise issuable pursuant to the Option), other Awards or awards granted under other plans of the Company or any Affiliate, other
property, or any other legal consideration the Committee deems appropriate (including notes or other contractual obligations of
Participants to make payment on a deferred basis), the methods by or forms in which Stock will be delivered or deemed to be
delivered to Participants, including the delivery of Restricted Stock subject to Section 6(d), and any other terms and
conditions of any Option. In the case of an exercise whereby the Exercise Price is paid with Stock, such Stock shall be valued based
on the Stock’s Fair Market Value as of the date of exercise. No Option may be exercisable for a period of more than ten years
following the date of grant of the Option (or in the case of an ISO granted to an individual who owns stock possessing more than 10%
of the total combined voting power of all classes of stock of the Company or its parent or any of its subsidiaries, for a period of
more than five years following the date of grant of the ISO).

 

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(iii)           
ISOs. The terms of any ISO granted under the Plan shall comply in all respects with the provisions of Section 422 of the
Code. ISOs may only be granted to Eligible Persons who are employees of the Company or employees of a parent or any subsidiary corporation
of the Company. Except as otherwise provided in Section 8, no term of the Plan relating to ISOs (including any SAR in tandem therewith)
shall be interpreted, amended or altered, nor shall any discretion or authority granted under the Plan be exercised, so as to disqualify
either the Plan or any ISO under Section 422 of the Code, unless notice has been provided to the Participant that such change will result
in such disqualification. ISOs shall not be granted more than ten years after the earlier of the adoption of the Plan or the approval
of the Plan by the Company’s stockholders. Notwithstanding the foregoing, to the extent that the aggregate Fair Market Value of
shares of Stock subject to an ISO and the aggregate Fair Market Value of shares of stock of any parent or subsidiary corporation (within
the meaning of Sections 424(e) and (f) of the Code) subject to any other incentive stock options of the Company or a parent or subsidiary
corporation (within the meaning of Sections 424(e) and (f) of the Code) that are exercisable for the first time by a Participant during
any calendar year exceeds $100,000, or such other amount as may be prescribed under Section 422 of the Code, such excess shall be treated
as Nonstatutory Options in accordance with the Code. As used in the previous sentence, Fair Market Value shall be determined as of the
date the ISO is granted. If a Participant shall make any disposition of shares of Stock issued pursuant to an ISO under the circumstances
described in Section 421(b) of the Code (relating to disqualifying dispositions), the Participant shall notify the Company of such disposition
within the time provided to do so in the applicable award agreement.

 

(c)              
SARs. The Committee is authorized to grant SARs to Eligible Persons on the following terms and conditions:

 

(i)                
Right to Payment. An SAR is a right to receive, upon exercise thereof, the excess of (A) the Fair Market Value of one share
of Stock on the date of exercise over (B) the grant price of the SAR as determined by the Committee.

 

(ii)             
Grant Price. Each Award Agreement evidencing an SAR shall state the grant price per share of Stock established by the Committee;
provided, however, that except as provided in Section 6(j) or in Section 8, the grant price per share of Stock
subject to an SAR shall not be less than the greater of (A) the par value per share of the Stock or (B) 100% of the Fair Market Value
per share of the Stock as of the date of grant of the SAR.

 

(iii)            Method
of Exercise and Settlement; Other Terms. The Committee shall determine the form of consideration payable upon settlement, the
method by or forms in which Stock (if any) will be delivered or deemed to be delivered to Participants, and any other terms and
conditions of any SAR. SARs may be either free-standing or granted in tandem with other Awards. No SAR may be exercisable for a
period of more than ten years following the date of grant of the SAR.

 

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(iv)            
Rights Related to Options. An SAR granted in connection with an Option shall entitle a Participant, upon exercise, to surrender
that Option or any portion thereof, to the extent unexercised, and to receive payment of an amount determined by multiplying (A) the difference
obtained by subtracting the Exercise Price with respect to a share of Stock specified in the related Option from the Fair Market Value
of a share of Stock on the date of exercise of the SAR, by (B) the number of shares as to which that SAR has been exercised. The Option
shall then cease to be exercisable to the extent surrendered. SARs granted in connection with an Option shall be subject to the terms
and conditions of the Award Agreement governing the Option, which shall provide that the SAR is exercisable only at such time or times
and only to the extent that the related Option is exercisable and shall not be transferable except to the extent that the related Option
is transferrable.

 

(d)              
Restricted Stock. The Committee is authorized to grant Restricted Stock to Eligible Persons on the following terms and conditions:

 

(i)                
Restrictions. Restricted Stock shall be subject to such restrictions on transferability, risk of forfeiture and other restrictions,
if any, as the Committee may impose. Except as provided in Section 7(a)(iii) and Section 7(a)(iv), during the restricted
period applicable to the Restricted Stock, the Restricted Stock may not be sold, transferred, pledged, hedged, hypothecated, margined
or otherwise encumbered by the Participant.

 

(ii)             
Dividends and Splits. As a condition to the grant of an Award of Restricted Stock, the Committee may allow a Participant
to elect, or may require, that any cash dividends paid on a share of Restricted Stock be automatically reinvested in additional shares
of Restricted Stock, applied to the purchase of additional Awards or deferred without interest to the date of vesting of the associated
Award of Restricted Stock. Unless otherwise determined by the Committee and specified in the applicable Award Agreement, Stock distributed
in connection with a Stock split or Stock dividend, and other property (other than cash) distributed as a dividend, shall be subject to
restrictions and a risk of forfeiture to the same extent as the Restricted Stock with respect to which such Stock or other property has
been distributed.

 

(e)              
Restricted Stock Units. The Committee is authorized to grant Restricted Stock Units to Eligible Persons on the following
terms and conditions:

 

(i)                
Award and Restrictions. Restricted Stock Units shall be subject to such restrictions (which may include a risk of forfeiture)
as the Committee may impose.

 

(ii)              Settlement.
Settlement of vested Restricted Stock Units shall occur upon vesting or upon expiration of the deferral period specified for such
Restricted Stock Units by the Committee (or, if permitted by the Committee, as elected by the Participant). Restricted Stock Units
shall be settled by delivery of (A) a number of shares of Stock equal to the number of Restricted Stock Units for which settlement
is due, or (B) cash in an amount equal to the Fair Market Value of the specified number of shares of Stock equal to the number of
Restricted Stock Units for which settlement is due, or a combination thereof, as determined by the Committee at the date of grant or
thereafter.

 

    11 

     

    

 

(f)               
Stock Awards. The Committee is authorized to grant Stock Awards to Eligible Persons as a bonus, as additional compensation,
or in lieu of cash compensation any such Eligible Person is otherwise entitled to receive, in such amounts and subject to such other terms
as the Committee in its discretion determines to be appropriate.

 

(g)              
Dividend Equivalents. The Committee is authorized to grant Dividend Equivalents to Eligible Persons, entitling any such
Eligible Person to receive cash, Stock, other Awards, or other property equal in value to dividends or other distributions paid with respect
to a specified number of shares of Stock. Dividend Equivalents may be awarded on a free-standing basis or in connection with another Award
(other than an Award of Restricted Stock or a Stock Award). The Committee may provide that Dividend Equivalents shall be paid or distributed
when accrued or at a later specified date and, if distributed at a later date, may be deemed to have been reinvested in additional Stock,
Awards, or other investment vehicles or accrued in a bookkeeping account without interest, and subject to such restrictions on transferability
and risks of forfeiture, as the Committee may specify. With respect to Dividend Equivalents granted in connection with another Award,
absent a contrary provision in the Award Agreement, such Dividend Equivalents shall be subject to the same restrictions and risk of forfeiture
as the Award with respect to which the dividends accrue and shall not be paid unless and until such Award has vested and been earned.

 

(h)              
Other Stock-Based Awards. The Committee is authorized, subject to limitations under applicable law, to grant to Eligible
Persons such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or
related to, Stock, as deemed by the Committee to be consistent with the purposes of the Plan, including convertible or exchangeable debt
securities, other rights convertible or exchangeable into Stock, purchase rights for Stock, Awards with value and payment contingent upon
performance of the Company or any other factors designated by the Committee, and Awards valued by reference to the book value of Stock
or the value of securities of, or the performance of, specified Affiliates. The Committee shall determine the terms and conditions of
such Other Stock-Based Awards. Stock delivered pursuant to an Other-Stock Based Award in the nature of a purchase right granted under
this Section 6(h) shall be purchased for such consideration, paid for at such times, by such methods, and in such forms, including
cash, Stock, other Awards, or other property, as the Committee shall determine.

 

(i)                
Cash Awards. The Committee is authorized to grant Cash Awards, on a free-standing basis or as an element of, a supplement
to, or in lieu of any other Award under the Plan to Eligible Persons in such amounts and subject to such other terms as the Committee
in its discretion determines to be appropriate.

 

(j)                 Substitute
Awards; No Repricing. Awards may be granted in substitution or exchange for any other Award granted under the Plan or under
another plan of the Company or an Affiliate or any other right of an Eligible Person to receive payment from the Company or an
Affiliate. Awards may also be granted under the Plan in substitution for awards held by individuals who become Eligible Persons as a
result of a merger, consolidation or acquisition of another entity or the assets of another entity by or with the Company or an
Affiliate. Such Substitute Awards referred to in the immediately preceding sentence that are Options or SARs may have an exercise
price that is less than the Fair Market Value of a share of Stock on the date of the substitution if such substitution complies with
the Nonqualified Deferred Compensation Rules, Section 424 of the Code and the Guidance and regulations promulgated thereunder, if
applicable, and other applicable laws and exchange rules. Except as provided in this Section 6(j) or in Section 8,
without the approval of the stockholders of the Company, the terms of outstanding Awards may not be amended to (i) reduce the
Exercise Price or grant price of an outstanding Option or SAR, (ii) grant a new Option, SAR in substitution for, or upon the
cancellation of, any previously granted Option or SAR that has the effect of reducing the Exercise Price or grant price thereof,
(iii) exchange any Option or SAR for Stock, cash or other consideration when the Exercise Price or grant price per share of Stock
under such Option or SAR exceeds the Fair Market Value of a share of Stock or (iv) take any other action that would be considered a
 “repricing” of an Option or SAR under the applicable listing standards of the national securities exchange on which the
Stock is listed (if any).

 

    12 

     

    

 

7.             Certain
Provisions Applicable to Awards.

 

(a)              
Limit on Transfer of Awards.

 

(i)                
Except as provided in Sections 7(a)(iii) and (iv), each Option and SAR shall be exercisable only by the Participant
during the Participant’s lifetime, or by the person to whom the Participant’s rights shall pass by will or the laws of descent
and distribution. Notwithstanding anything to the contrary in this Section 7(a), an ISO shall not be transferable other than by
will or the laws of descent and distribution.

 

(ii)             
Except as provided in Sections 7(a)(i), (iii) and (iv), no Award, other than a Stock Award, and no right under
any such Award, may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Participant and any such
purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company
or any Affiliate.

 

(iii)           
To the extent specifically provided by the Committee and permitted pursuant to Form S-8 and the instructions thereto, an Award
may be transferred by a Participant on such terms and conditions as the Committee may from time to time establish; provided, however,
that no Award (other than a Stock Award) may be transferred to a third-party financial institution for value.

 

(iv)            
An Award may be transferred pursuant to a domestic relations order entered or approved by a court of competent jurisdiction upon
delivery to the Company of a written request for such transfer and a certified copy of such order.

 

(b)               Form
and Timing of Payment under Awards; Deferrals. Subject to the terms of the Plan and any applicable Award Agreement, payments to
be made by the Company or any Affiliates upon the exercise or settlement of an Award may be made in such forms as the Committee
shall determine in its discretion, including cash, Stock, other Awards or other property, and may be made in a single payment or
transfer, in installments, or on a deferred basis (which may be required by the Committee or permitted at the election of the
Participant on terms and conditions established by the Committee); provided, however, that any such deferred or
installment payments will be set forth in the Award Agreement. Payments may include, without limitation, provisions for the payment
or crediting of reasonable interest on installment or deferred payments or the grant or crediting of Dividend Equivalents or other
amounts in respect of installment or deferred payments denominated in Stock.

 

    13 

     

    

 

(c)              
Evidencing Stock. The Stock or other securities of the Company delivered pursuant to an Award may be evidenced in any manner
deemed appropriate by the Committee in its sole discretion, including in the form of a certificate issued in the name of the Participant
or by book entry, electronic or otherwise, and shall be subject to such stop transfer orders and other restrictions as the Committee may
deem advisable under the Plan or the rules, regulations, and other requirements of the SEC, any stock exchange upon which such Stock or
other securities are then listed, and any applicable federal, state or other laws, and the Committee may cause a legend or legends to
be inscribed on any such certificates to make appropriate reference to such restrictions. Further, if certificates representing Restricted
Stock are registered in the name of the Participant, the Company may retain physical possession of the certificates and may require that
the Participant deliver a stock power to the Company, endorsed in blank, related to the Restricted Stock.

 

(d)              
Consideration for Grants. Awards may be granted for such consideration, including services, as the Committee shall determine,
but shall not be granted for less than the minimum lawful consideration.

 

(e)              
Additional Agreements. Each Eligible Person to whom an Award is granted under the Plan may be required to agree in writing,
as a condition to the grant of such Award or otherwise, to subject an Award that is exercised or settled following such Eligible Person’s
termination of employment or service to a general release of claims and/or a noncompetition or other restricted covenant agreement in
favor of the Company and the Affiliates, with the terms and conditions of such agreement(s) to be determined in good faith by the Committee.

 

8.             Subdivision
or Consolidation; Recapitalization; Change in Control; Reorganization.

 

(a)              
Existence of Plans and Awards. The existence of the Plan and the Awards granted hereunder shall not affect in any way the
right or power of the Company, the Board or the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization
or other change in the Company’s capital structure or its business, any merger or consolidation of the Company, any issue of debt
or equity securities ahead of or affecting Stock or the rights thereof, the dissolution or liquidation of the Company or any sale, lease,
exchange or other disposition of all or any part of its assets or business or any other corporate act or proceeding.

 

(b)              
Additional Issuances. Except as expressly provided herein, the issuance by the Company of shares of stock of any class,
including upon conversion of shares or obligations of the Company convertible into such shares or other securities, and in any case whether
or not for fair value, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number of shares of Stock
subject to Awards theretofore granted or the purchase price per share of Stock, if applicable.

 

    14 

     

    

 

(c)              
 Subdivision or Consolidation of Shares. The terms of an Award and the share limitations under the Plan shall be subject
to adjustment by the Committee from time to time, in accordance with the following provisions:

 

(i)                
If at any time, or from time to time, the Company shall subdivide as a whole (by reclassification, by a Stock split, by the issuance
of a distribution on Stock payable in Stock, or otherwise) the number of shares of Stock then outstanding into a greater number of shares
of Stock or in the event the Company distributes an extraordinary cash dividend, then, as appropriate (A) the maximum number of shares
of Stock available for delivery with respect to Awards and applicable limitations with respect to Awards provided in Section 4
and Section 5 (other than cash limits) shall be increased proportionately, and the kind of shares or other securities available
for the Plan shall be appropriately adjusted, (B) the number of shares of Stock (or other kind of shares or securities) that may be acquired
under any then-outstanding Award shall be increased proportionately, and (C) the price (including the Exercise Price or grant price) for
each share of Stock (or other kind of shares or securities) subject to then-outstanding Awards shall be reduced proportionately, without
changing the aggregate purchase price or value as to which outstanding Awards remain exercisable or subject to restrictions; provided,
however, that in the case of an extraordinary cash dividend that is not an Adjustment Event, the adjustment to the number of shares
of Stock and the Exercise Price or grant price, as applicable, with respect to an outstanding Option or SAR may be made in such other
manner as the Committee may determine that is permitted pursuant to applicable tax and other laws, rules and regulations. Notwithstanding
the foregoing, Awards that already have a right to receive extraordinary cash dividends as a result of Dividend Equivalents or other dividend
rights will not be adjusted as a result of an extraordinary cash dividend.

 

(ii)             
If at any time, or from time to time, the Company shall consolidate as a whole (by reclassification, by reverse Stock split, or
otherwise) the number of shares of Stock then outstanding into a lesser number of shares of Stock, then, as appropriate (A) the maximum
number of shares of Stock available for delivery with respect to Awards and applicable limitations with respect to Awards provided in
Section 4 and Section 5 (other than cash limits) shall be decreased proportionately, and the kind of shares or other securities
available for the Plan shall be appropriately adjusted, (B) the number of shares of Stock (or other kind of shares or securities) that
may be acquired under any then-outstanding Award shall be decreased proportionately, and (C) the price (including the Exercise Price or
grant price) for each share of Stock (or other kind of shares or securities) subject to then-outstanding Awards shall be increased proportionately,
without changing the aggregate purchase price or value as to which outstanding Awards remain exercisable or subject to restrictions.

 

(d)               Recapitalization.
In the event of any change in the capital structure or business of the Company or other corporate transaction or event that would be
considered an “equity restructuring” within the meaning of ASC Topic 718 and, in each case, that would result in an
additional compensation expense to the Company pursuant to the provisions of ASC Topic 718, if adjustments to Awards with respect to
such event were discretionary or otherwise not required (each such an event, an “Adjustment Event”), then
the Committee shall equitably adjust (i) the aggregate number or kind of shares that thereafter may be delivered under the Plan,
(ii) the number or kind of shares or other property (including cash) subject to an Award, (iii) the terms and conditions of Awards,
including the purchase price or Exercise Price of Awards and performance goals, as applicable, and (iv) the applicable limitations
with respect to Awards provided in Section 4 and Section 5 (other than cash limits) to equitably reflect such
Adjustment Event (“Equitable Adjustments”). In the event of any change in the capital structure or
business of the Company or other corporate transaction or event that would not be considered an Adjustment Event, and is not
otherwise addressed in this Section 8, the Committee shall have complete discretion to make Equitable Adjustments (if any) in
such manner as it deems appropriate with respect to such other event.

 

    15 

     

    

 

(e)              
Change in Control and Other Events. In the event of a Change in Control or other changes in the Company or the outstanding
Stock by reason of a recapitalization, reorganization, merger, consolidation, combination, exchange or other relevant change occurring
after the date of the grant of any Award, the Committee, acting in its sole discretion without the consent or approval of any holder,
may exercise any power enumerated in Section 3 (including the power to accelerate vesting, waive any forfeiture conditions or otherwise
modify or adjust any other condition or limitation regarding an Award) and may also effect one or more of the following alternatives,
which may vary among individual holders and which may vary among Awards held by any individual holder:

 

(i)                
accelerate the time of exercisability of an Award so that such Award may be exercised in full or in part for a limited period of
time on or before a date specified by the Committee, after which specified date all unexercised Awards and all rights of holders thereunder
shall terminate;

 

(ii)             
redeem in whole or in part outstanding Awards by requiring the mandatory surrender to the Company by selected holders of some or
all of the outstanding Awards held by such holders (irrespective of whether such Awards are then vested or exercisable) as of a date,
specified by the Committee, in which event the Committee shall thereupon cancel such Awards and pay to each holder an amount of cash or
other consideration per Award (other than a Dividend Equivalent or Cash Award, which the Committee may separately require to be surrendered
in exchange for cash or other consideration determined by the Committee in its discretion) equal to the Change in Control Price, less
the Exercise Price with respect to an Option and less the grant price with respect to an SAR, as applicable to such Awards; provided,
however, that to the extent the Exercise Price of an Option or the grant price of an SAR exceeds the Change in Control Price, such
Award may be cancelled for no consideration;

 

(iii)           
cancel Awards that remain subject to a restricted period as of the date of a Change in Control or other such event without payment
of any consideration to the Participant for such Awards; or

 

(iv)            
make such adjustments to Awards then outstanding as the Committee deems appropriate to reflect such Change in Control or other
such event (including the substitution, assumption, or continuation of Awards by the successor company or a parent or subsidiary thereof);

 

provided, however,
that so long as the event is not an Adjustment Event, the Committee may determine in its sole discretion that no adjustment is
necessary to Awards then outstanding. If an Adjustment Event occurs, this Section 8(e) shall only apply to the extent it is
not in conflict with Section 8(d).

 

    16 

     

    

 

9.             General
Provisions.

 

(a)              
Tax Withholding. The Company and any Affiliate are authorized to withhold from any Award granted, or any payment relating
to an Award, including from a distribution of Stock, taxes due or potentially payable in connection with any transaction involving an
Award, and to take such other action as the Committee may deem advisable to enable the Company, the Affiliates and Participants to satisfy
the payment of withholding taxes and other tax obligations relating to any Award in such amounts as may be determined by the Committee.
The Committee shall determine, in its sole discretion, the form of payment acceptable for such tax withholding obligations, including
the delivery of cash or cash equivalents, Stock (including through delivery of previously owned shares, net settlement, a broker-assisted
sale, or other cashless withholding or reduction of the amount of shares otherwise issuable or delivered pursuant to the Award), other
property, or any other legal consideration the Committee deems appropriate. Any determination made by the Committee to allow a Participant
who is subject to Rule 16b-3 to pay taxes with shares of Stock through net settlement or previously owned shares shall be approved by
either a committee made up of solely two or more Qualified Members or the full Board. If such tax withholding amounts are satisfied through
net settlement or previously owned shares, the maximum number of shares of Stock that may be so withheld or surrendered shall be the number
of shares of Stock that have an aggregate Fair Market Value on the date of withholding or surrender equal to the aggregate amount of such
tax liabilities determined based on the greatest withholding rates for federal, state, foreign and/or local tax purposes, including payroll
taxes, that may be utilized without creating adverse accounting treatment for the Company with respect to such Award, as determined by
the Committee.

 

(b)              
Limitation on Rights Conferred under Plan. Neither the Plan nor any action taken hereunder shall be construed as (i) giving
any Eligible Person or Participant the right to continue as an Eligible Person or Participant or in the employ or service of the Company
or any Affiliate, (ii) interfering in any way with the right of the Company or any Affiliate to terminate any Eligible Person’s
or Participant’s employment or service relationship at any time, (iii) giving an Eligible Person or Participant any claim to be
granted any Award under the Plan or to be treated uniformly with other Participants and/or employees and/or other service providers, or
(iv) conferring on a Participant any of the rights of a stockholder of the Company unless and until the Participant is duly issued
or transferred shares of Stock in accordance with the terms of an Award.

 

(c)              
Governing Law; Submission to Jurisdiction. All questions arising with respect to the provisions of the Plan and Awards shall
be determined by application of the laws of the State of Delaware, without giving effect to any conflict of law provisions thereof, except
to the extent Delaware law is preempted by federal law. The obligation of the Company to sell and deliver Stock hereunder is subject to
applicable federal and state laws and to the approval of any governmental authority required in connection with the authorization, issuance,
sale, or delivery of such Stock. With respect to any claim or dispute related to or arising under the Plan, the Company and each Participant
who accepts an Award hereby consent to the exclusive jurisdiction, forum and venue of any Delaware Chancery Court located in New Castle
County.

 

    17 

     

    

 

(d)              
 Severability and Reformation. If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal,
or unenforceable in any jurisdiction or as to any person or Award, or would disqualify the Plan or any Award under any law deemed applicable
by the Committee, such provision shall be construed or deemed amended to conform to the applicable law 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 stricken as to such jurisdiction, person or Award and the remainder of the Plan and any such Award shall remain in full force
and effect. If any of the terms or provisions of the Plan or any Award Agreement conflict with the requirements of Rule 16b-3 (as those
terms or provisions are applied to Eligible Persons who are subject to Section 16 of the Exchange Act) or Section 422 of the Code (with
respect to ISOs), then those conflicting terms or provisions shall be deemed inoperative to the extent they so conflict with the requirements
of Rule 16b-3 (unless the Board or the Committee, as appropriate, has expressly determined that the Plan or such Award should not comply
with Rule 16b-3) or Section 422 of the Code, in each case, only to the extent Rule 16b-3 and such sections of the Code are applicable.
With respect to ISOs, if the Plan does not contain any provision required to be included herein under Section 422 of the Code, that provision
shall be deemed to be incorporated herein with the same force and effect as if that provision had been set out at length herein; provided,
further, that, to the extent any Option that is intended to qualify as an ISO cannot so qualify, that Option (to that extent) shall
be deemed a Nonstatutory Option for all purposes of the Plan.

 

(e)              
Unfunded Status of Awards; No Trust or Fund Created. The Plan is intended to constitute an “unfunded” plan for
certain incentive awards. Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any kind or
a fiduciary relationship between the Company or any Affiliate and a Participant or any other person. To the extent that any person acquires
a right to receive payments from the Company or any Affiliate pursuant to an Award, such right shall be no greater than the right of any
general unsecured creditor of the Company or such Affiliate.

 

(f)               
Nonexclusivity of the Plan. Neither the adoption of the Plan by the Board nor its submission to the stockholders of the
Company for approval shall be construed as creating any limitations on the power of the Board or a committee thereof to adopt such other
incentive arrangements as it may deem desirable. Nothing contained in the Plan shall be construed to prevent the Company or any Affiliate
from taking any corporate action which is deemed by the Company or such Affiliate to be appropriate or in its best interest, whether or
not such action would have an adverse effect on the Plan or any Award made under the Plan. No employee, beneficiary or other person shall
have any claim against the Company or any Affiliate as a result of any such action.

 

(g)              
Fractional Shares. No fractional shares of Stock shall be issued or delivered pursuant to the Plan or any Award, and the
Committee shall determine in its sole discretion whether cash, other securities, or other property shall be paid or transferred in lieu
of any fractional shares of Stock or whether such fractional shares of Stock or any rights thereto shall be cancelled, terminated, or
otherwise eliminated with or without consideration.

 

(h)               Interpretation.
Headings are given to the Sections and subsections of the Plan solely as a convenience to facilitate reference. Such headings shall
not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof. Words in
the masculine gender shall include the feminine gender, and, where appropriate, the plural shall include the singular and the
singular shall include the plural. In the event of any conflict between the terms and conditions of an Award Agreement and the Plan,
the provisions of the Plan shall control. The use herein of the word “including” following any general statement, term
or matter shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately
following such word or to similar items or matters, whether or not non-limiting language (such as “without limitation”,
 “but not limited to”, or words of similar import) is used with reference thereto, but rather shall be deemed to refer to
all other items or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter.
References herein to any agreement, instrument or other document means such agreement, instrument or other document as amended,
supplemented and modified from time to time to the extent permitted by the provisions thereof and not prohibited by the Plan.

 

    18 

     

    

 

(i)                
Facility of Payment. Any amounts payable hereunder to any individual under legal disability or who, in the judgment of the
Committee, is unable to manage properly his financial affairs, may be paid to the legal representative of such individual, or may be applied
for the benefit of such individual in any manner that the Committee may select, and the Company shall be relieved of any further liability
for payment of such amounts.

 

(j)                
Conditions to Delivery of Stock. Nothing herein or in any Award Agreement shall require the Company to issue any shares
with respect to any Award if that issuance would, in the opinion of counsel for the Company, constitute a violation of the Securities
Act, any other applicable statute or regulation, or the rules of any applicable securities exchange or securities association, as then
in effect. In addition, each Participant who receives an Award under the Plan shall not sell or otherwise dispose of Stock that is acquired
upon grant, exercise or vesting of an Award in any manner that would constitute a violation of any applicable federal or state securities
laws, the Plan or the rules, regulations or other requirements of the SEC or any stock exchange upon which the Stock is then listed. At
the time of any exercise of an Option or SAR, or at the time of any grant of any other Award, the Company may, as a condition precedent
to the exercise of such Option or SAR or settlement of any other Award, require from the Participant (or in the event of his or her death,
his or her legal representatives, heirs, legatees, or distributees) such written representations, if any, concerning the holder’s
intentions with regard to the retention or disposition of the shares of Stock being acquired pursuant to the Award and such written covenants
and agreements, if any, as to the manner of disposal of such shares as, in the opinion of counsel to the Company, may be necessary to
ensure that any disposition by that holder (or in the event of the holder’s death, his or her legal representatives, heirs, legatees,
or distributees) will not involve a violation of the Securities Act, any other applicable state or federal statute or regulation, or any
rule of any applicable securities exchange or securities association, as then in effect. Stock or other securities shall not be delivered
pursuant to any Award until payment in full of any amount required to be paid pursuant to the Plan or the applicable Award Agreement (including
any Exercise Price, grant price, or tax withholding) is received by the Company.

 

(k)               Section
409A of the Code. It is the general intention, but not the obligation, of the Committee to design Awards to comply with or to be
exempt from the Nonqualified Deferred Compensation Rules, and Awards will be operated and construed accordingly. Neither this Section
9(k) nor any other provision of the Plan is or contains a representation to any Participant regarding the tax consequences of
the grant, vesting, exercise, settlement, or sale of any Award (or the Stock underlying such Award) granted hereunder, and should
not be interpreted as such. In no event shall the Company be liable for all or any portion of any taxes, penalties, interest or
other expenses that may be incurred by the Participant on account of non-compliance with the Nonqualified Deferred Compensation
Rules. Notwithstanding any provision in the Plan or an Award Agreement to the contrary, in the event that a “specified
employee” (as defined under the Nonqualified Deferred Compensation Rules) becomes entitled to a payment under an Award that
would be subject to additional taxes and interest under the Nonqualified Deferred Compensation Rules if the Participant’s
receipt of such payment or benefits is not delayed until the earlier of (i) the date of the Participant’s death, or (ii) the
date that is six months after the Participant’s “separation from service,” as defined under the Nonqualified
Deferred Compensation Rules (such date, the “Section 409A Payment Date”), then such payment or benefit
shall not be provided to the Participant until the Section 409A Payment Date. Any amounts subject to the preceding sentence that
would otherwise be payable prior to the Section 409A Payment Date will be aggregated and paid in a lump sum without interest on the
Section 409A Payment Date. The applicable provisions of the Nonqualified Deferred Compensation Rules are hereby incorporated by
reference and shall control over any Plan or Award Agreement provision in conflict therewith.

 

    19 

     

    

 

(l)                
Clawback. The Plan and all Awards granted hereunder are subject to any written clawback policies that the Company, with
the approval of the Board or an authorized committee thereof, may adopt either prior to or following the Effective Date, including any
policy adopted to conform to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and rules promulgated thereunder by
the SEC and that the Company determines should apply to Awards. Any such policy may subject a Participant’s Awards and amounts paid
or realized with respect to Awards to reduction, cancelation, forfeiture or recoupment if certain specified events or wrongful conduct
occur, including an accounting restatement due to the Company’s material noncompliance with financial reporting regulations or other
events or wrongful conduct specified in any such clawback policy.

 

(m)            
Status under ERISA. The Plan shall not constitute an “employee benefit plan” for purposes of Section 3(3) of
the Employee Retirement Income Security Act of 1974, as amended.

 

(n)              
Plan Effective Date and Term. The Plan was adopted by the Board to be effective on the Effective Date. No Awards may be
granted under the Plan on and after the tenth anniversary of the Effective Date. However, any Award granted prior to such termination
(or any earlier termination pursuant to Section 10), and the authority of the Board or Committee to amend, alter, adjust, suspend,
discontinue, or terminate any such Award or to waive any conditions or rights under such Award in accordance with the terms of the Plan,
shall extend beyond such termination until the final disposition of such Award.

 

10.           Amendments
to the Plan and Awards. The Committee may amend, alter, suspend, discontinue or terminate any Award or Award Agreement, the Plan
or the Committee’s authority to grant Awards without the consent of stockholders or Participants, except that any amendment or
alteration to the Plan, including any increase in any share limitation, shall be subject to the approval of the Company’s
stockholders not later than the annual meeting next following such Committee action if such stockholder approval is required by any
federal or state law or regulation or the rules of any stock exchange or automated quotation system on which the Stock may then be
listed or quoted, and the Committee may otherwise, in its discretion, determine to submit other changes to the Plan to stockholders
for approval; provided, that, without the consent of an affected Participant, no such Committee action may materially and
adversely affect the rights of such Participant under any previously granted and outstanding Award. For purposes of clarity, any
adjustments made to Awards pursuant to Section 8 will be deemed not to materially and adversely affect the rights of any
Participant under any previously granted and outstanding Award and therefore may be made without the consent of affected
Participants.

 

    20Exhibit 10.10

 

EVGO INC.

2021 LONG TERM INCENTIVE PLAN

 

RESTRICTED STOCK UNIT GRANT NOTICE

 

Pursuant to the terms and
conditions of the EVgo Inc. 2021 Long Term Incentive Plan (the “Plan”), EVgo Inc., a Delaware corporation (the “Company”),
hereby grants to the individual listed below (“you” or the “Participant”) the number
of Restricted Stock Units (the “RSUs”) set forth below. This award of RSUs (this ”Award”)
is subject to the terms and conditions set forth herein and in the Restricted Stock Unit Agreement attached hereto as Exhibit A
(the “Agreement”) and the Plan, each of which is incorporated herein by reference. Capitalized terms used
but not defined herein shall have the meanings set forth in the Plan.

 

	Participant:		 
	 	 	 
	Date of Grant:		 
	 	 	 
	Total Number of Restricted Stock Units:	 

    
	 

	 	 	 
	 	 	 
	Vesting Commencement Date:	 

     
	
 

	 	 	 
	 	 	 
	
    Vesting Schedule:

     

     

     

     

     
	
    Subject to the Agreement, the Plan and the other
    terms and conditions set forth herein, the RSUs shall vest and become exercisable according to the following schedule:

    

     

    provided, that you remain continuously
    employed by the Company or an Affiliate, as applicable, from the Date of Grant through each such vesting date. Shares will be issued with
    respect to the RSUs as set forth in Section 4 of the Agreement (which Shares when issued will be transferable and nonforfeitable).

    

 

By your signature below,
you agree to be bound by the terms and conditions of the Plan, the Agreement and this Restricted Stock Unit Grant Notice (this
 “Grant Notice”). You acknowledge that you have reviewed the Agreement, the Plan and this Grant Notice in
their entirety and fully understand all provisions of the Agreement, the Plan and this Grant Notice. You hereby agree to accept as
binding, conclusive and final all decisions or interpretations of the Committee regarding any questions or determinations that arise
under the Agreement, the Plan or this Grant Notice. This Grant Notice may be executed in one or more counterparts (including
portable document format (.pdf) and facsimile counterparts), each of which shall be deemed to be an original, but all of which
together shall constitute one and the same agreement.

 

[Signature Page Follows]

 

     

     

    

 

IN WITNESS WHEREOF,
the Company has caused this Grant Notice to be executed by an officer thereunto duly authorized, and the Participant has executed this
Grant Notice, effective for all purposes as provided above.

 

	 	EVGO INC.
	 	 
	 	 
	 	By:	 
	 	Name:
	 	Title:

 

 

	 	PARTICIPANT
	 	 
	 	 
	 	 
	 	Name:

 

	 	 
	 	Date Accepted:	 

 

SIGNATURE PAGE TO

 RESTRICTED STOCK UNIT GRANT NOTICE

 

    

     

    

 

EXHIBIT A

 

RESTRICTED STOCK UNIT AGREEMENT

 

This Restricted Stock Unit
Agreement (together with the Grant Notice to which this Agreement is attached, this “Agreement”) is made
as of the Date of Grant set forth in the Grant Notice to which this Agreement is attached by and between EVgo Inc., a Delaware corporation
(the “Company”), and _________ (the “Participant”). Capitalized terms used but not
specifically defined herein shall have the meanings specified in the Plan or the Grant Notice.

 

1.                 
Award.  In consideration of the Participant’s past or continued employment with the Company or its Affiliates
and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, effective as of the Date of
Grant set forth in the Grant Notice (the “Date of Grant”), the Company hereby grants to the Participant the
number of RSUs set forth in the Grant Notice on the terms and conditions set forth in the Grant Notice, this Agreement and the Plan, which
is incorporated herein by reference as a part of this Agreement. In the event of any inconsistency between the Plan and this Agreement,
the terms of the Plan shall control. To the extent vested, each RSU represents the right to receive one share of Stock, subject to the
terms and conditions set forth in the Grant Notice, this Agreement and the Plan. Unless and until the RSUs have become vested in the manner
set forth in the Grant Notice, the Participant will have no right to receive any Stock or other payments in respect of the RSUs. Prior
to settlement of this Award, the RSUs and this Award represent an unsecured obligation of the Company, payable only from the general assets
of the Company.

 

2.                 
Vesting of RSUs. 

 

(a)              
The RSUs shall vest in accordance with the vesting schedule set forth in the Grant Notice.  Unless and until the RSUs have
vested in accordance with such vesting schedule, the Participant will have no right to receive any dividends or other distribution with
respect to the RSUs. Upon a termination of the Participant’s employment with the Company or an Affiliate prior to the vesting of
all of the RSUs, any unvested RSUs (and all rights arising from such RSUs and from being a holder thereof) will terminate automatically
without any further action by the Company and will be forfeited without further notice and at no cost to the Company.

 

(b)              
Notwithstanding any provision herein to the contrary, in the event of any inconsistency between this Section 2 and any employment
agreement entered into by and between you and the Company or its Affiliates, the terms of the employment agreement shall control.

 

3.                  Dividend
Equivalents. In the event that the Company declares and pays a dividend in respect of its outstanding shares of Stock and,
on the record date for such dividend, the Participant holds RSUs granted pursuant to this Agreement that have not been settled, the
Company shall record the amount of such dividend in a bookkeeping account and pay to the Participant an amount in cash equal to the
cash dividends the Participant would have received if the Participant was the holder of record, as of such record date, of a number
of shares of Stock equal to the number of RSUs held by the Participant that have not been settled as of such record date, such
payment to be made on the same date that the RSUs to which they are attributable are settled and paid in accordance with Section
4. For purposes of clarity, if the RSUs (or any portion thereof) are forfeited by the Participant pursuant to the terms of this
Agreement, then the Participant shall also forfeit the Dividend Equivalents, if any, accrued with respect to such forfeited RSUs. No
interest will accrue on the Dividend Equivalents between the declaration and payment of the applicable dividends and the settlement
of the Dividend Equivalents.

 

    A-1

     

    

 

4.                 
Settlement of RSUs. As soon as administratively practicable following the vesting of RSUs pursuant to Section
2, but in no event later than 60 days after such vesting date, the Company shall deliver to the Participant a number of shares of
Stock equal to the number of RSUs subject to this Award. All shares of Stock issued hereunder shall be delivered either by delivering
one or more certificates for such shares to the Participant or by entering such shares in book-entry form, as determined by the Committee
in its sole discretion. The value of shares of Stock shall not bear any interest owing to the passage of time. Neither this Section
4 nor any action taken pursuant to or in accordance with this Agreement shall be construed to create a trust or a funded or secured
obligation of any kind.

 

5.                 
Tax Withholding. To the extent that the receipt, vesting or settlement of this Award results in compensation income
or wages to the Participant for federal, state, local or foreign tax purposes, the Participant shall make arrangements satisfactory to
the Company for the satisfaction of obligations for the payment of withholding taxes and other tax obligations relating to this Award,
which arrangements include the delivery of cash or cash equivalents, Stock (including previously owned Stock, net settlement, a broker-assisted
sale, or other cashless withholding or reduction of the amount of shares otherwise issuable or delivered pursuant to this Award), other
property, or any other legal consideration the Committee deems appropriate. If such tax obligations are satisfied through net settlement
or the surrender of previously owned Stock, the maximum number of shares of Stock that may be so withheld (or surrendered) shall be the
number of shares of Stock that have an aggregate Fair Market Value on the date of withholding or surrender equal to the aggregate amount
of such tax liabilities determined based on the greatest withholding rates for federal, state, local or foreign tax purposes, including
payroll taxes, that may be utilized without creating adverse accounting treatment for the Company with respect to this Award, as determined
by the Committee. Any fraction of a share of Stock required to satisfy such tax obligations shall be disregarded and the amount due shall
be paid instead in cash to the Participant. The Participant acknowledges that there may be adverse tax consequences upon the receipt,
vesting or settlement of this Award or disposition of the underlying shares and that the Participant has been advised, and hereby is advised,
to consult a tax advisor. The Participant represents that the Participant is in no manner relying on the Board, the Committee, the Company
or an Affiliate or any of their respective managers, directors, officers, employees or authorized representatives (including, without
limitation, attorneys, accountants, consultants, bankers, lenders, prospective lenders and financial representatives) for tax advice or
an assessment of such tax consequences.

 

6.                  Employment
Relationship. For purposes of this Agreement the Participant shall be considered to be employed by the Company or an
Affiliate as long as the Participant remains an employee of any of the Company, an Affiliate or a corporation or other entity (or a
parent or subsidiary of such corporation or other entity) assuming or substituting a new award for this Award. Without limiting the
scope of the preceding sentence, it is expressly provided that the Participant shall be considered to have terminated employment
with the Company (a) when the Participant ceases to be an employee of any of the Company, an Affiliate, or a corporation or other
entity (or a parent or subsidiary of such corporation or other entity) assuming or substituting a new award for this Award or (b) at
the time of the termination of the “Affiliate” status under the Plan of the corporation or other entity that employs the
Participant.

 

    A-2

     

    

 

7.                 
Leave of Absence. With respect to the Award, the Company may, in its sole discretion, determine that if the Participant
is on a leave of absence for any reason the Participant will be considered to still be in the employ of, or providing services for, the
Company, provided that rights to the RSUs during a leave of absence will be limited to the extent to which those rights were earned or
vested when the leave of absence began.

 

8.                 
Non-Transferability.  During the lifetime of the Participant, the RSUs may not be sold, pledged, assigned or
transferred in any manner other than by will or the laws of descent and distribution, unless and until the shares of Stock underlying
the RSUs have been issued, and all restrictions applicable to such shares have lapsed. Neither the RSUs nor any interest or right therein
shall be liable for the debts, contracts or engagements of the Participant or his or her successors in interest or shall be subject to
disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means, whether such disposition be voluntary
or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including
bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition
is permitted by the preceding sentence.

 

9.                 
Compliance with Applicable Law. Notwithstanding any provision of this Agreement to the contrary, the issuance of
shares of Stock hereunder will be subject to compliance with all applicable requirements of applicable law with respect to such securities
and with the requirements of any stock exchange or market system upon which the Stock may then be listed. No shares of Stock will be issued
hereunder if such issuance would constitute a violation of any applicable law or regulation or the requirements of any stock exchange
or market system upon which the Stock may then be listed. In addition, shares of Stock will not be issued hereunder unless (a) a registration
statement under the Securities Act is in effect at the time of such issuance with respect to the shares to be issued or (b) in the opinion
of legal counsel to the Company, the shares to be issued are permitted to be issued in accordance with the terms of an applicable exemption
from the registration requirements of the Securities Act. The inability of the Company to obtain from any regulatory body having jurisdiction
the authority, if any, deemed by the Company’s legal counsel to be necessary for the lawful issuance and sale of any shares of Stock
hereunder will relieve the Company of any liability in respect of the failure to issue such shares as to which such requisite authority
has not been obtained. As a condition to any issuance of Stock hereunder, the Company may require the Participant to satisfy any requirements
that may be necessary or appropriate to evidence compliance with any applicable law or regulation and to make any representation or warranty
with respect to such compliance as may be requested by the Company.

 

10.             
Legends. If a stock certificate is issued with respect to shares of Stock issued hereunder, such certificate shall
bear such legend or legends as the Committee deems appropriate in order to reflect the restrictions set forth in this Agreement and to
ensure compliance with the terms and provisions of this Agreement, the rules, regulations and other requirements of the SEC, any applicable
laws or the requirements of any stock exchange on which the Stock is then listed.

 

    A-3

     

    

 

If the shares of Stock issued hereunder are held
in book-entry form, then such entry will reflect that the shares are subject to the restrictions set forth in this Agreement.

 

11.             
Rights as a Stockholder. The Participant shall have no rights as a stockholder of the Company with respect to any
shares of Stock that may become deliverable hereunder unless and until the Participant has become the holder of record of such shares
of Stock, and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of any such
shares of Stock, except as otherwise specifically provided for in the Plan or this Agreement.

 

12.             
No Right to Continued Employment or Awards. Nothing in the adoption of the Plan, nor the award of the RSUs thereunder
pursuant to the Grant Notice and this Agreement, shall confer upon the Participant the right to continued employment by the Company or
any Affiliate, or any other entity, or affect in any way the right of the Company or any such Affiliate, or any other entity to terminate
such employment at any time. The grant of the RSUs is a one-time benefit and does not create any contractual or other right to receive
a grant of Awards or benefits in lieu of Awards in the future. Any future Awards will be granted at the sole discretion of the Company.

 

13.             
Notices. All notices and other communications under this Agreement shall be in writing and shall be delivered to
the parties at the following addresses (or at such other address for a party as shall be specified by like notice):

 

If to the Company,
unless otherwise designated by the Company in a written notice to the Participant (or other holder):

 

	EVgo Inc.
	Attn: Francine Sullivan
	11835 West Olympic Boulevard, Suite 900E
	Los Angeles, California 90064
	Telephone: (877) 494-3833

 

If to the Participant, at
the Participant’s last known address on file with the Company.

 

Any notice that is delivered personally or by
overnight courier or telecopier in the manner provided herein shall be deemed to have been duly given to the Participant when it is mailed
by the Company or, if such notice is not mailed to the Participant, upon receipt by the Participant. Any notice that is addressed and
mailed in the manner herein provided shall be conclusively presumed to have been given to the party to whom it is addressed at the close
of business, local time of the recipient, on the fourth day after the day it is so placed in the mail.

 

14.              Consent
to Electronic Delivery; Electronic Signature. In lieu of receiving documents in paper format, the Participant agrees, to the
fullest extent permitted by law, to accept electronic delivery of any documents that the Company may be required to deliver
(including prospectuses, prospectus supplements, grant or award notifications and agreements, account statements, annual and
quarterly reports and all other forms of communications) in connection with this and any other Award made or offered by the Company.
Electronic delivery may be via a Company electronic mail system or by reference to a location on a Company intranet to which the
Participant has access. The Participant hereby consents to any and all procedures the Company has established or may establish for
an electronic signature system for delivery and acceptance of any such documents that the Company may be required to deliver, and
agrees that his or her electronic signature is the same as, and shall have the same force and effect as, his or her manual
signature.

 

    A-4

     

    

 

15.             
Agreement to Furnish Information. The Participant agrees to furnish to the Company all information requested by the
Company to enable it to comply with any reporting or other requirement imposed upon the Company by or under any applicable statute or
regulation.

 

16.             
Entire Agreement; Amendment. This Agreement constitutes the entire agreement of the parties with regard to the subject
matter hereof, and contains all the covenants, promises, representations, warranties and agreements between the parties with respect to
the RSUs granted hereby; provided ̧ however, that the terms of this Agreement shall not modify and shall be subject to the terms
and conditions of any employment, consulting or severance agreement between the Company (or an Affiliate or other entity) and the Participant
in effect as of the date a determination is to be made under this Agreement. Without limiting the scope of the preceding sentence, except
as provided therein, all prior understandings and agreements, if any, among the parties hereto relating to the subject matter hereof are
hereby null and void and of no further force and effect. The Committee may, in its sole discretion, amend this Agreement from time to
time in any manner that is not inconsistent with the Plan; provided, however, that except as otherwise provided in the Plan or this Agreement,
any such amendment that materially reduces the rights of the Participant shall be effective only if it is in writing and signed by both
the Participant and an authorized officer of the Company.

 

17.             
Severability and Waiver. If a court of competent jurisdiction determines that any provision of this Agreement is
invalid or unenforceable, then the invalidity or unenforceability of such provision shall not affect the validity or enforceability of
any other provision of this Agreement, and all other provisions shall remain in full force and effect. Waiver by any party of any breach
of this Agreement or failure to exercise any right hereunder shall not be deemed to be a waiver of any other breach or right. The failure
of any party to take action by reason of such breach or to exercise any such right shall not deprive the party of the right to take action
at any time while or after such breach or condition giving rise to such rights continues.

 

18.             
Clawback. Notwithstanding any provision in the Grant Notice, this Agreement
or the Plan to the contrary, to the extent required by (a) applicable law, including the requirements of the Dodd-Frank Wall Street Reform
and Consumer Protection Act of 2010, any SEC rule or any applicable securities exchange listing standards or (b) any policy that may be
adopted or amended by the Board from time to time, all shares of Stock issued hereunder shall be subject to forfeiture, repurchase, recoupment
or cancellation to the extent necessary to comply with such law(s) or policy.

 

19.             
Insider Trading Policy. The terms of the Company’s insider trading
policy with respect to shares of Stock are incorporated herein by reference.

 

20.              Governing
Law. THIS
AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE APPLICABLE TO CONTRACTS MADE AND
TO BE PERFORMED THEREIN, EXCLUSIVE OF THE CONFLICT OF LAWS PROVISIONS OF DELAWARE LAW. With respect to any claim or dispute related
to or arising under this Agreement, Participant hereby consents to the exclusive jurisdiction, forum and venue of the state and
federal courts (as applicable) located in New Castle County, Delaware. The parties hereto waive, to the fullest extent permitted by
law, any defenses to venue and jurisdiction in New Castle County, Delaware.

 

    A-5

     

    

 

21.             
Successors and Assigns. The Company may assign any of its rights under this
Agreement without the Participant’s consent. This Agreement will be binding upon and inure to the benefit of the successors and
assigns of the Company. Subject to the restrictions on transfer set forth herein and in the Plan, this Agreement will be binding upon
the Participant and the Participant’s beneficiaries, executors, administrators and the Person(s) to whom the RSUs may be transferred
by will or the laws of descent or distribution.

 

22.             
Headings; References; Interpretation. Headings are for convenience only and are not deemed to be part of this Agreement.
The words “hereof,” “herein” and “hereunder” and words of similar import, when used in this Agreement,
shall refer to this Agreement as a whole and not to any particular provision of this Agreement. All references herein to Sections shall,
unless the context requires a different construction, be deemed to be references to the Sections of this Agreement. The word “or”
as used herein is not exclusive and is deemed to have the meaning “and/or.” All references to “including” shall
be construed as meaning “including without limitation.” Unless the context requires otherwise, all references herein to a
law, agreement, instrument or other document shall be deemed to refer to such law, agreement, instrument or other document as amended,
supplemented, modified and restated from time to time to the extent permitted by the provisions thereof. All references to “dollars”
or “$” in this Agreement refer to United States dollars. Whenever the context may require, any pronouns used herein shall
include the corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural and
vice versa. Neither this Agreement nor any uncertainty or ambiguity herein shall be construed or resolved against any party hereto, whether
under any rule of construction or otherwise. On the contrary, this Agreement has been reviewed by each of the parties hereto and shall
be construed and interpreted according to the ordinary meaning of the words used so as to fairly accomplish the purposes and intentions
of the parties hereto.

 

23.             
Counterparts.  The Grant Notice may be executed in one or more counterparts, each of which shall be deemed an
original and all of which together shall constitute one instrument. Delivery of an executed counterpart of the Grant Notice by facsimile
or portable document format (.pdf) attachment to electronic mail shall be effective as delivery of a manually executed counterpart of
the Grant Notice.

 

24.              Section
409A. This Agreement is intended to comply with the Nonqualified
Deferred Compensation Rules or an exemption thereunder and shall be construed and interpreted in a manner that is consistent
with the requirements for avoiding additional taxes or penalties under the Nonqualified
Deferred Compensation Rules. To the extent that the Committee determines that the RSUs may not be exempt from the
Nonqualified Deferred Compensation Rules, then, if the Participant is deemed to be a “specified employee” within
the meaning of the Nonqualified Deferred Compensation Rules, as
determined by the Committee, at a time when the Participant becomes eligible for settlement of the RSUs upon his “separation
from service” within the meaning of the Nonqualified Deferred
Compensation Rules, then to the extent necessary to prevent any accelerated or additional tax under the
Nonqualified Deferred Compensation Rules, such settlement will be delayed until the earlier of: (a) the date that is six
months following the Participant’s separation from service and (b) the Participant’s death. Notwithstanding the
foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with the Nonqualified
Deferred Compensation Rules and in no event shall the Company be liable for all or any portion of any taxes, penalties,
interest or other expenses that may be incurred by the Participant on account of non-compliance with the Nonqualified
Deferred Compensation Rules.

 

    A-6

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