Document:

Exhibit 10.142

 

FORM OF 

SUBSIDIARY GUARANTEE

 

SUBSIDIARY GUARANTEE,
dated as of June __, 2017 (this “Guarantee”), made by each of the signatories hereto (together with any other
entity that may become a party hereto as provided herein, the “Guarantors”), in favor of the purchasers signatory
(together with their permitted assigns, the “Purchasers”) to that certain Securities Purchase Agreement, dated
as of the date hereof, between Rennova Health, Inc., a Delaware corporation (the “Company”) and the Purchasers.

 

W I T N E S S E T H:

 

WHEREAS, pursuant to
that certain Securities Purchase Agreement, dated as of the date hereof, by and between the Company and the Purchasers (the “Purchase
Agreement”), the Company has agreed to sell and issue to the Purchasers, and the Purchasers have agreed to purchase from
the Company the Debentures, subject to the terms and conditions set forth therein; and

       WHEREAS, each Guarantor will directly benefit from the extension of credit to the Company
represented by the issuance of the Debentures; and

 

NOW, THEREFORE, in
consideration of the premises and to induce the Purchasers to enter into the Purchase Agreement and to carry out the transactions
contemplated thereby, each Guarantor hereby agrees with the Purchasers as follows:

 

1.              
Definitions. Unless otherwise defined herein, terms defined in the Purchase Agreement and used herein shall have the meanings
given to them in the Purchase Agreement. The words “hereof,” “herein,” “hereto” and “hereunder”
and words of similar import when used in this Guarantee shall refer to this Guarantee as a whole and not to any particular provision
of this Guarantee, and Section and Schedule references are to this Guarantee unless otherwise specified. The meanings given to
terms defined herein shall be equally applicable to both the singular and plural forms of such terms. The following terms shall
have the following meanings:

 

“Guarantee”
means this Subsidiary Guarantee, as the same may be amended, supplemented or otherwise modified from time to time.

“Obligations” means, in addition to all other costs and expenses of collection incurred by Purchasers in enforcing
any of such Obligations and/or this Guarantee, all of the liabilities and obligations (primary, secondary, direct, contingent,
sole, joint or several) due or to become due, or that may be hereafter contracted or acquired, or owing to, of the Company or any
Guarantor to the Purchasers, including, without limitation, all obligations under this Guarantee, the Debentures and any other
instruments, agreements or other documents executed and/or delivered in connection herewith or therewith, in each case, whether
hereafter existing, voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or
not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred,
and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided
or recovered directly or indirectly from any of the Purchasers as a preference, fraudulent transfer or otherwise as such obligations
may be amended, supplemented, converted, extended or modified from time to time. Without limiting the generality of the foregoing,
the term “Obligations” shall include, without limitation: (i) principal of, and interest on the Debentures and the
loans extended pursuant thereto; (ii) any and all other fees, indemnities, costs, obligations and liabilities of the Company or
any Guarantor from time to time under or in connection with this Guarantee, the Debentures and any other instruments, agreements
or other documents executed and/or delivered in connection herewith or therewith; and (iii) all amounts (including but not limited
to post-petition interest) in respect of the foregoing that would be payable but for the fact that the obligations to pay such
amounts are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving
the Company or any Guarantor.

 

 

 

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2.              
Guarantee.

 

(a)            
Guarantee.

 

(i)             
The Guarantors hereby, jointly and severally, unconditionally and irrevocably, guarantee to the Purchasers and their respective
successors, indorsees, transferees and assigns, the prompt and complete payment and performance when due (whether at the stated
maturity, by acceleration or otherwise) of the Obligations.

 

(ii)           
Anything herein or in any other Transaction Document to the contrary notwithstanding, the maximum liability of each Guarantor
hereunder and under the other Transaction Documents shall in no event exceed the amount which can be guaranteed by such Guarantor
under applicable federal and state laws, including laws relating to the insolvency of debtors, fraudulent conveyance or transfer
or laws affecting the rights of creditors generally (after giving effect to the right of contribution established in Section 2(b)).

 

(iii)         
Each Guarantor agrees that the Obligations may at any time and from time to time exceed the amount of the liability of such
Guarantor hereunder without impairing the guarantee contained in this Section 2 or affecting the rights and remedies of the Purchasers
hereunder.

 

(iv)          
The guarantee contained in this Section 2 shall remain in full force and effect until all the Obligations and the obligations
of each Guarantor under the guarantee contained in this Section 2 shall have been satisfied by indefeasible payment in full.

 

(v)            
No payment made by the Company, any of the Guarantors, any other guarantor or any other Person or received or collected
by the Purchasers from the Company, any of the Guarantors, any other guarantor or any other Person by virtue of any action or proceeding
or any set-off or appropriation or application at any time or from time to time in reduction of or in payment of the Obligations
shall be deemed to modify, reduce, release or otherwise affect the liability of any Guarantor hereunder which shall, notwithstanding
any such payment (other than any payment made by such Guarantor in respect of the Obligations or any payment received or collected
from such Guarantor in respect of the Obligations), remain liable for the Obligations up to the maximum liability of such Guarantor
hereunder until the Obligations are indefeasibly paid in full.

 

(vi)          
Notwithstanding anything to the contrary in this Guarantee, with respect to any defaulted non-monetary Obligations the specific
performance of which by the Guarantors is not reasonably possible (e.g. the issuance of the Company's Common Stock), the Guarantors
shall only be liable for making the Purchasers whole on a monetary basis for the Company's failure to perform such Obligations
in accordance with the Transaction Documents.

 

(b)            
Right of Contribution. Subject to Section 2(c), each Guarantor hereby agrees that to the extent that a Guarantor
shall have paid more than its proportionate share of any payment made hereunder, such Guarantor shall be entitled to seek and receive
contribution from and against any other Guarantor hereunder which has not paid its proportionate share of such payment. Each Guarantor's
right of contribution shall be subject to the terms and conditions of Section 2(c). The provisions of this Section 2(b) shall in
no respect limit the obligations and liabilities of any Guarantor to the Purchasers and each Guarantor shall remain liable to the
Purchasers for the full amount guaranteed by such Guarantor hereunder.

 

(c)            
No Subrogation. Notwithstanding any payment made by any Guarantor hereunder or any set-off or application of funds
of any Guarantor by the Purchasers, no Guarantor shall be entitled to be subrogated to any of the rights of the Purchasers against
the Company or any other Guarantor or any collateral security or guarantee or right of offset held by the Purchasers for the payment
of the Obligations, nor shall any Guarantor seek or be entitled to seek any contribution or reimbursement from the Company or any
other Guarantor in respect of payments made by such Guarantor hereunder, until all amounts owing to the Purchasers by the Company
on account of the Obligations are indefeasibly paid in full. If any amount shall be paid to any Guarantor on account of such subrogation
rights at any time when all of the Obligations shall not have been paid in full, such amount shall be held by such Guarantor in
trust for the Purchasers, segregated from other funds of such Guarantor, and shall, forthwith upon receipt by such Guarantor, be
turned over to the Purchasers in the exact form received by such Guarantor (duly indorsed by such Guarantor to the Purchasers,
if required), to be applied against the Obligations, whether matured or unmatured, in such order as the Purchasers may determine.

 

 

 

 

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(d)            
Amendments, Etc. With Respect to the Obligations. Each Guarantor shall remain obligated hereunder notwithstanding
that, without any reservation of rights against any Guarantor and without notice to or further assent by any Guarantor, any demand
for payment of any of the Obligations made by the Purchasers may be rescinded by the Purchasers and any of the Obligations continued,
and the Obligations, or the liability of any other Person upon or for any part thereof, or any collateral security or guarantee
therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified,
accelerated, compromised, waived, surrendered or released by the Purchasers, and the Purchase Agreement and the other Transaction
Documents and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated,
in whole or in part, as the Purchasers may deem advisable from time to time, and any collateral security, guarantee or right of
offset at any time held by the Purchasers for the payment of the Obligations may be sold, exchanged, waived, surrendered or released.
The Purchasers shall have no obligation to protect, secure, perfect or insure any Lien at any time held by them as security for
the Obligations or for the guarantee contained in this Section 2 or any property subject thereto.

 

(e)            
Guarantee Absolute and Unconditional. Each Guarantor waives any and all notice of the creation, renewal, extension
or accrual of any of the Obligations and notice of or proof of reliance by the Purchasers upon the guarantee contained in this
Section 2 or acceptance of the guarantee contained in this Section 2; the Obligations, and any of them, shall conclusively be deemed
to have been created, contracted or incurred, or renewed, extended, amended or waived, in reliance upon the guarantee contained
in this Section 2; and all dealings between the Company and any of the Guarantors, on the one hand, and the Purchasers, on the
other hand, likewise shall be conclusively presumed to have been had or consummated in reliance upon the guarantee contained in
this Section 2. Each Guarantor waives to the extent permitted by law diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Company or any of the Guarantors with
respect to the Obligations. Each Guarantor understands and agrees that the guarantee contained in this Section 2 shall be construed
as a continuing, absolute and unconditional guarantee of payment and performance without regard to (a) the validity or enforceability
of the Purchase Agreement or any other Transaction Document, any of the Obligations or any other collateral security therefor or
guarantee or right of offset with respect thereto at any time or from time to time held by the Purchasers, (b) any defense, set-off
or counterclaim (other than a defense of payment or performance or fraud by Purchasers) which may at any time be available to or
be asserted by the Company or any other Person against the Purchasers, or (c) any other circumstance whatsoever (with or without
notice to or knowledge of the Company or such Guarantor) which constitutes, or might be construed to constitute, an equitable or
legal discharge of the Company for the Obligations, or of such Guarantor under the guarantee contained in this Section 2, in bankruptcy
or in any other instance. When making any demand hereunder or otherwise pursuing its rights and remedies hereunder against any
Guarantor, the Purchasers may, but shall be under no obligation to, make a similar demand on or otherwise pursue such rights and
remedies as they may have against the Company, any other Guarantor or any other Person or against any collateral security or guarantee
for the Obligations or any right of offset with respect thereto, and any failure by the Purchasers to make any such demand, to
pursue such other rights or remedies or to collect any payments from the Company, any other Guarantor or any other Person or to
realize upon any such collateral security or guarantee or to exercise any such right of offset, or any release of the Company,
any other Guarantor or any other Person or any such collateral security, guarantee or right of offset, shall not relieve any Guarantor
of any obligation or liability hereunder, and shall not impair or affect the rights and remedies, whether express, implied or available
as a matter of law, of the Purchasers against any Guarantor. For the purposes hereof, “demand” shall include the commencement
and continuance of any legal proceedings.

 

(f)             
Reinstatement. The guarantee contained in this Section 2 shall continue to be effective, or be reinstated, as the
case may be, if at any time payment, or any part thereof, of any of the Obligations is rescinded or must otherwise be restored
or returned by the Purchasers upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Company or any
Guarantor, or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer
for, the Company or any Guarantor or any substantial part of its property, or otherwise, all as though such payments had not been
made.

 

(g)            
Payments. Each Guarantor hereby guarantees that payments hereunder will be paid to the Purchasers without set-off
or counterclaim in U.S. dollars at the address set forth or referred to in the Signature Pages to the Purchase Agreement.

 

3.              
Representations and Warranties. Each Guarantor hereby makes the following representations and warranties to Purchasers as
of the date hereof:

 

(a)            
Organization and Qualification. Except as set forth on Schedule I, the Guarantor is a corporation or limited
liability company, duly organized, validly existing and in good standing under the laws of the applicable jurisdiction set forth
on Schedule 1, with the requisite corporate or other power and authority to own and use its properties and assets and to carry
on its business as currently conducted. The Guarantor has no subsidiaries other than those identified as such on the Disclosure
Schedules to the Purchase Agreement. The Guarantor is duly qualified to do business and is in good standing as a foreign corporation
or company in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification
necessary, except where the failure to be so qualified or in good standing, as the case may be, could not, individually or in the
aggregate, (x) adversely affect the legality, validity or enforceability of any of this Guaranty in any material respect, (y) have
a material adverse effect on the results of operations, assets, prospects, or financial condition of the Guarantor or (z) adversely
impair in any material respect the Guarantor's ability to perform fully on a timely basis its obligations under this Guaranty (a
“Material Adverse Effect”).

 

 

 

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(b)            
Authorization; Enforcement. The Guarantor has the requisite corporate or other power and authority to enter into
and to consummate the transactions contemplated by this Guaranty, and otherwise to carry out its obligations hereunder. The execution
and delivery of this Guaranty by the Guarantor and the consummation by it of the transactions contemplated hereby have been duly
authorized by all requisite corporate or other action on the part of the Guarantor. This Guaranty has been duly executed and delivered
by the Guarantor and constitutes the valid and binding obligation of the Guarantor enforceable against the Guarantor in accordance
with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation or similar laws relating to, or affecting generally the enforcement of, creditors' rights and remedies or by other
equitable principles of general application.

 

(c)            
No Conflicts. The execution, delivery and performance of this Guaranty by the Guarantor and the consummation by the
Guarantor of the transactions contemplated thereby do not and will not (i) conflict with or violate any provision of its Certificate
of Incorporation, By-laws, articles of organization or operating agreement or (ii) conflict with, constitute a default (or an event
which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture or instrument to which the Guarantor is a party, or (iii) result in a
violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority
to which the Guarantor is subject (including Federal and State securities laws and regulations), or by which any material property
or asset of the Guarantor is bound or affected, except in the case of each of clauses (ii) and (iii), such conflicts, defaults,
terminations, amendments, accelerations, cancellations and violations as could not, individually or in the aggregate, have or result
in a Material Adverse Effect. The business of the Guarantor is not being conducted in violation of any law, ordinance or regulation
of any governmental authority, except for violations which, individually or in the aggregate, do not have a Material Adverse Effect.

 

(d)            
Consents and Approvals. The Guarantor is not required to obtain any consent, waiver, authorization or order of, or
make any filing or registration with, any court or other federal, state, local, foreign or other governmental authority or other
person in connection with the execution, delivery and performance by the Guarantor of this Guaranty.

 

(e)            
Purchase Agreement. The representations and warranties of the Company set forth in the Purchase Agreement as they
relate to such Guarantor, each of which is hereby incorporated herein by reference, are true and correct as of each time such representations
are deemed to be made pursuant to such Purchase Agreement, and the Purchasers shall be entitled to rely on each of them as if they
were fully set forth herein, provided that each reference in each such representation and warranty to the Company's knowledge shall,
for the purposes of this Section 3, be deemed to be a reference to such Guarantor's knowledge.

 

(f)             
Foreign Law. Each Guarantor has consulted with appropriate foreign legal counsel with respect to any of the above
representations for which non-U.S. law is applicable. Such foreign counsel have advised each applicable Guarantor that such counsel
knows of no reason why any of the above representations would not be true and accurate. Such foreign counsel were provided with
copies of this Subsidiary Guarantee and the Transaction Documents prior to rendering their advice.

 

4.              
Covenants.

 

(a)       
Each Guarantor covenants and agrees with the Purchasers that, from and after the date of this Guarantee until the Obligations
shall have been indefeasibly paid in full, such Guarantor shall take, and/or shall refrain from taking, as the case may be, each
commercially reasonable action that is necessary to be taken or not taken, as the case may be, so that no Event of Default (as
defined in the Debentures) is caused by the failure to take such action or to refrain from taking such action by such Guarantor.

 

(b)       
So long as any of the Obligations are outstanding, unless Purchasers holding at least 67% of the aggregate principal amount
of the then outstanding Debentures shall otherwise consent in writing, each Guarantor will not directly or indirectly on or after
the date of this Guarantee:

 

i.                   
enter into, create, incur, assume or suffer to exist any indebtedness in excess of $100,000 for borrowed money of any kind (other
than any indebtedness existing on the date hereof), including but not limited to, a guarantee, on or with respect to any of its
property or assets now owned or hereafter acquired or any interest therein or any income or profits therefrom;

 

 

 

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ii.                   
enter into, create, incur, assume or suffer to exist any liens of any kind, on or with respect to any of its property or assets
now owned or hereafter acquired or any interest therein or any income or profits therefrom, except for any liens existing on the
date hereof;

 

iii.                   
amend its certificate of incorporation, bylaws or other charter documents so as to adversely affect any rights of any Purchaser;

 

iv.                   
repay, repurchase or offer to repay, repurchase or otherwise acquire more than a de minimis number of shares of its securities
or debt obligations except pursuant to their terms as such terms exist on the date hereof;

 

v.                   
pay cash dividends on any equity securities of the Company;

 

vi.                   
enter into any transaction with any Affiliate of the Guarantor which would be required to be disclosed in any public filing of
the Company with the Commission, unless such transaction is made on an arm’s-length basis and expressly approved by a majority
of the disinterested directors of the Company (even if less than a quorum otherwise required for board approval); or

 

vii.                   
enter into any agreement with respect to any of the foregoing.

 

5.              
Miscellaneous.

 

(a)            
Amendments in Writing. None of the terms or provisions of this Guarantee may be waived, amended, supplemented or
otherwise modified except in writing by the Purchasers.

 

(b)            
Notices. All notices, requests and demands to or upon the Purchasers or any Guarantor hereunder shall be effected
in the manner provided for in the Purchase Agreement, provided that any such notice, request or demand to or upon any Guarantor
shall be addressed to such Guarantor at its notice address set forth on Schedule 5(b).

 

(c)            
No Waiver By Course Of Conduct; Cumulative Remedies. The Purchasers shall not by any act (except by a written instrument
pursuant to Section 5(a)), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to
have acquiesced in any default under the Transaction Documents or Event of Default. No failure to exercise, nor any delay in exercising,
on the part of the Purchasers, any right, power or privilege hereunder shall operate as a waiver thereof. No single or partial
exercise of any right, power or privilege hereunder shall preclude any other or further exercise thereof or the exercise of any
other right, power or privilege. A waiver by the Purchasers of any right or remedy hereunder on any one occasion shall not be construed
as a bar to any right or remedy which the Purchasers would otherwise have on any future occasion. The rights and remedies herein
provided are cumulative, may be exercised singly or concurrently and are not exclusive of any other rights or remedies provided
by law.

 

(d)            
Enforcement Expenses; Indemnification.

 

(i)             
Each Guarantor agrees to pay, or reimburse the Purchasers for, all its costs and expenses incurred in collecting against
such Guarantor under the guarantee contained in Section 2 or otherwise enforcing or preserving any rights under this Guarantee
and the other Transaction Documents to which such Guarantor is a party, including, without limitation, the reasonable fees and
disbursements of counsel to the Purchasers.

 

(ii)           
Each Guarantor agrees to pay, and to save the Purchasers harmless from, any and all liabilities with respect to, or resulting
from any delay in paying, any and all stamp, excise, sales or other taxes which may be payable or determined to be payable in connection
with any of the transactions contemplated by this Guarantee.

 

 

 

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(iii)         
Each Guarantor agrees to pay, and to save the Purchasers harmless from, any and all liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever with respect to the execution,
delivery, enforcement, performance and administration of this Guarantee to the extent the Company would be required to do so pursuant
to the Purchase Agreement.

 

(iv)          
The agreements in this Section shall survive repayment of the Obligations and all other amounts payable under the Purchase
Agreement and the other Transaction Documents.

 

(e)            
Successor and Assigns. This Guarantee shall be binding upon the successors and assigns of each Guarantor and shall
inure to the benefit of the Purchasers and their respective successors and assigns; provided that no Guarantor may assign, transfer
or delegate any of its rights or obligations under this Guarantee without the prior written consent of the holders of the Debentures.

 

(f)             
Set-Off. Each Guarantor hereby irrevocably authorizes the Purchasers at any time and from time to time while an Event
of Default under any of the Transaction Documents shall have occurred and be continuing, without notice to such Guarantor or any
other Guarantor, any such notice being expressly waived by each Guarantor, to set-off and appropriate and apply any and all deposits,
credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured,
at any time held or owing by the Purchasers to or for the credit or the account of such Guarantor, or any part thereof in such
amounts as the Purchasers may elect, against and on account of the obligations and liabilities of such Guarantor to the Purchasers
hereunder and claims of every nature and description of the Purchasers against such Guarantor, in any currency, whether arising
hereunder, under the Purchase Agreement, any other Transaction Document or otherwise, as the Purchasers may elect, whether or not
the Purchasers have made any demand for payment and although such obligations, liabilities and claims may be contingent or unmatured.
The Purchasers shall notify such Guarantor promptly of any such set-off and the application made by the Purchasers of the proceeds
thereof, provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights
of the Purchasers under this Section are in addition to other rights and remedies (including, without limitation, other rights
of set-off) which the Purchasers may have.

 

(g)            
Counterparts. This Guarantee may be executed by one or more of the parties to this Guarantee on any number of separate
counterparts (including by telecopy), and all of said counterparts taken together shall be deemed to constitute one and the same
instrument.

 

(h)            
Severability. Any provision of this Guarantee which is prohibited or unenforceable in any jurisdiction shall, as
to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions
hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision
in any other jurisdiction.

 

(i)             
Section Headings. The Section headings used in this Guarantee are for convenience of reference only and are not to
affect the construction hereof or be taken into consideration in the interpretation hereof.

 

(j)             
Integration. This Guarantee and the other Transaction Documents represent the agreement of the Guarantors and the
Purchasers with respect to the subject matter hereof and thereof, and there are no promises, undertakings, representations or warranties
by the Purchasers relative to subject matter hereof and thereof not expressly set forth or referred to herein or in the other Transaction
Documents.

 

(k)            
Governing Laws. All questions concerning the construction, validity, enforcement and interpretation of this Guarantee
shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to
the principles of conflicts of law thereof. Each of the Company and the Guarantors agree that all proceedings concerning the interpretations,
enforcement and defense of the transactions contemplated by this Guarantee (whether brought against a party hereto or its respective
affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state
and federal courts sitting in the City of New York, Borough of Manhattan. Each of the Company and the Guarantors hereby irrevocably
submits to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for
the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein,
and hereby irrevocably waives, and agrees not to assert in any proceeding, any claim that it is not personally subject to the jurisdiction
of any such court, that such proceeding is improper. Each party hereto hereby irrevocably waives personal service of process and
consents to process being served in any such proceeding by mailing a copy thereof via registered or certified mail or overnight
delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Guarantee and agrees that
such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed
to limit in any way any right to serve process in any manner permitted by law. Each party hereto hereby irrevocably waives, to
the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating
to this Guarantee or the transactions contemplated hereby.

 

 

 

    	 	6	 

     

    

 

(l)             
Acknowledgements. Each Guarantor hereby acknowledges that:

 

(i)             
it has been advised by counsel in the negotiation, execution and delivery of this Guarantee and the other Transaction Documents
to which it is a party;

 

(ii)           
the Purchasers have no fiduciary relationship with or duty to any Guarantor arising out of or in connection with this Guarantee
or any of the other Transaction Documents, and the relationship between the Guarantors, on the one hand, and the Purchasers, on
the other hand, in connection herewith or therewith is solely that of debtor and creditor; and

 

(iii)         
no joint venture is created hereby or by the other Transaction Documents or otherwise exists by virtue of the transactions
contemplated hereby among the Guarantors and the Purchasers.

 

(m)          
Additional Guarantors. The Company shall cause each of its subsidiaries formed or acquired on or subsequent to the
date hereof to become a Guarantor for all purposes of this Guarantee by executing and delivering an

Assumption Agreement in the form of Annex 1 hereto.

 

(n)            
Release of Guarantors. Each Guarantor will be released from all liability hereunder concurrently with the indefeasible
repayment in full of all amounts owed under the Purchase Agreement, the Debentures and the other Transaction Documents or upon
the sale or transfer of a majority of the outstanding stock or other equity interest of such Guarantor with the prior written consent
of holders of a majority in interest of the Debentures.

 

(o)            
Seniority. The Obligations of each of the Guarantors hereunder rank senior in priority to any other Indebtedness
(as defined in the Purchase Agreement) of such Guarantor, except for any Indebtedness related to the Senior Debentures (as defined
in the Purchase Agreement).

 

(p)            
WAIVER OF JURY TRIAL. EACH GUARANTOR AND, BY ACCEPTANCE OF THE BENEFITS HEREOF, THE PURCHASERS, HEREBY IRREVOCABLY
AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS GUARANTEE AND FOR ANY COUNTERCLAIM THEREIN.

 

*********************

 

 

 

(Signature
Pages Follow)

 

 

 

    	 	7	 

     

    

 

IN WITNESS WHEREOF,
each of the undersigned has caused this Guarantee to be duly executed and delivered as of the date first above written.

 

CollabRx, Inc.

 

By:_________________________________

Name:

Title:

 

 

Health Technology Solutions, Inc.

 

By:_________________________________

Name:

Title:

 

 

Medytox Institute of Laboratory Medicine, Inc.

 

By:_________________________________

Name:

Title:

 

 

Medical Billing Choices, Inc.

 

By:_________________________________

Name:

Title:

 

 

Medytox Diagnostics, Inc.

 

By:_________________________________

Name:

Title:

 

 

Medytox Medical Marketing & Sales, Inc.

 

By:_________________________________

Name:

Title:

 

 

PB Laboratories, LLC

 

By:_________________________________

Name:

Title:

 

 

Biohealth Medical Laboratory, Inc.

 

By:_________________________________

Name:

Title:

 

 

    	 	8	 

     

    

 

Alethea Laboratories, Inc.

 

By:_________________________________

Name:

Title:

 

 

International Technologies, LLC

 

By:_________________________________

Name:

Title:

 

 

EPIC Reference Labs, Inc.

 

By:_________________________________

Name:

Title:

 

 

Clinlab, Inc.

 

By:_________________________________

Name:

Title:

 

 

Medical Mime, Inc.

 

By:_________________________________

Name:

Title:

 

 

Epinex Diagnostics Laboratories, Inc.

 

By:_________________________________

Name:

Title:

 

 

Epinex Diagnostics Laboratories, Inc.

 

By:_________________________________

Name:

Title:

 

 

Platinum Financial Solutions, LLC

 

By:_________________________________

Name:

Title:

 

 

Advanced Molecular Services Group, Inc.

 

By:_________________________________

Name:

Title:

 

 

    	 	9	 

     

    

 

SCHEDULE 1

 

GUARANTORS

 

The following are the names, notice addresses
and jurisdiction of organization of each Guarantor.

 

	 	 	JURISDICTION OF INCORPORATION	 	COMPANY OWNED BY PERCENTAGE
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

 

 

 

 

 

 

 

 

 

    	 	10	 

     

    

Annex 1 to

SUBSIDIARY GUARANTEE

 

ASSUMPTION AGREEMENT, dated as of ____
__, ______ made by ______________________________, a ______________ corporation (the “Additional Guarantor”),
in favor of the Purchasers pursuant to the Purchase Agreement referred to below. All capitalized terms not defined herein shall
have the meaning ascribed to them in such Purchase Agreement.

W I T N E S S E T H :

 

WHEREAS, Rennova Health, Inc., a Delaware corporation (the “Company”) and the Purchasers have entered into
a Securities Purchase Agreement, dated as of June 21, 2017 (as amended, supplemented or otherwise modified from time to time, the
“Purchase Agreement”);

 

WHEREAS, in connection with the Purchase Agreement, the Subsidiaries of the Company (other than the Additional Guarantor) have
entered into the Subsidiary Guarantee, dated as of June __, 2017 (as amended, supplemented or otherwise modified from time to time,
the “Guarantee”) in favor of the Purchasers;

 

WHEREAS, the Purchase Agreement requires the Additional Guarantor to become a party to the Guarantee; and

 

WHEREAS, the Additional Guarantor has agreed to execute and deliver this Assumption Agreement in order to become a party to the Guarantee;

 

NOW, THEREFORE,
IT IS AGREED:

 

1.              
Guarantee. By executing and delivering this Assumption Agreement, the Additional Guarantor, as provided in Section 5(m)
of the Guarantee, hereby becomes a party to the Guarantee as a Guarantor thereunder with the same force and effect as if originally
named therein as a Guarantor and, without limiting the generality of the foregoing, hereby expressly assumes all obligations and
liabilities of a Guarantor thereunder. The information set forth in Annex 1 hereto is hereby added to the information set forth
in Schedule 1 to the Guarantee. The Additional Guarantor hereby represents and warrants that each of the representations and warranties
contained in Section 3 of the Guarantee is true and correct on and as the date hereof as to such Additional Guarantor (after giving
effect to this Assumption Agreement) as if made on and as of such date.

 

2.              
Governing Law. THIS ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW
OF THE STATE OF NEW YORK.

 

IN WITNESS WHEREOF,
the undersigned has caused this Assumption Agreement to be duly executed and delivered as of the date first above written.

	 	[ADDITIONALGUARANTOR]
	 	 
	 	By:                                                       
	 	Name:
	 	Title:

 

 

 

 

 

 

 

 

 

 

    	 	11Exhibit 4.1

 

LAKELAND INDUSTRIES, INC. 

 

2017 EQUITY INCENTIVE PLAN

 

Section
1. Purpose; Definitions. The purposes of the Lakeland Industries, Inc. 2017 Equity Incentive Plan (the
“Plan”) are to: (a) enable Lakeland Industries, Inc. (the “Company”) and its affiliated companies
to recruit and retain highly qualified employees and directors; (b) provide those employees and directors with an incentive for
productivity; and (c) provide those employees and directors with an opportunity to share in the growth and value of the Company.

 

For purposes of the Plan, the following terms
will have the meanings defined below, unless the context clearly requires a different meaning:

 

(a)              
“Affiliate” means, with respect to a Person, a Person that directly or indirectly controls, is controlled
by, or is under common control with such Person.

 

(b)              
“Applicable Law” means the legal requirements relating to the administration of and issuance of securities
under stock incentive plans, including, without limitation, the requirements of state corporations law, federal, state and foreign
securities law, federal, state and foreign tax law, and the requirements of any stock exchange or quotation system upon which the
Shares may then be listed or quoted.

 

(c)              
“Award” means an award of Options, Restricted Stock, Restricted Stock Units, Performance Awards, or Stock
Appreciation Rights made under this Plan.

 

(d)              
“Award Agreement” means, with respect to any particular Award, the written document that sets forth the
terms of that particular Award.

 

(e)  
“Base Price” means the price used as the basis for determining the Spread upon the exercise of Stock
Appreciation Right.

 

(f)               
“Board” means the Board of Directors of the Company, as constituted from time to time.

 

(g)  
 “Cause” means with respect to any Participant, unless otherwise defined in the Participant’s
employment agreement, Award Agreement, or signed offer letter: (i) the Participant’s habitual intoxication or drug addiction;
(ii) the Participant’s violation of the Company’s written policies, procedures or codes including, without limitation,
those with respect to harassment (sexual or otherwise) and ethics; (iii) the Participant’s refusal or willful failure
by the Participant to perform such duties as may reasonably be delegated or assigned to him or her, consistent with his or her
position; (iv) the Participant’s willful refusal or willful failure to comply with any requirement of the Securities
and Exchange Commission or any securities exchange or self-regulatory organization then applicable to the Company; (v) the
Participant’s willful or wanton misconduct in connection with the performance of his or her duties including, without limitation,
breach of fiduciary duties; (vi) the Participant’s breach (whether due to inattention, neglect, or knowing conduct)
of any of the material provisions of his or her employment agreement, if any; (vii) the Participant’s conviction of,
guilty, no contest or nolo contendere plea to, or admission or confession to any felony or any act of fraud, misappropriation,
embezzlement or any misdemeanor involving moral turpitude; (viii) the Participant’s dishonesty detrimental to the best
interest of the Company; (ix) the Participant’s involvement in any matter which, in the opinion of the Company’s
Chief Executive Officer (or, in the case of the Chief Executive Officer, the Board), is reasonably likely to cause material prejudice
or embarrassment to the Company’s business; or (x) solely in the case of a Non-Employee Director, any other action by
the Participant which the Board determines constitutes “cause.” Notwithstanding the foregoing, if a Participant and
the Company (or any of its Affiliates) have entered into an employment agreement or other similar agreement that specifically defines
“cause,” then with respect to such Participant, “Cause” shall have the meaning defined in such other agreement.

 

     

     

    

 

(h)  
 “Change in Control” shall mean the occurrence of any of the following events: (i) any “person”
(as such term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes a “beneficial owner” (as defined
in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the total
power to vote for the election of directors of the Company; (ii) during any twelve month period, individuals who at the beginning
of such period constitute the Board and any new director (other than a director designated by a person who has entered into an
agreement with the Company to effect a transaction described in Section 1(g)(i), Section 1(g)(iii), Section 1(g)(iv)
or Section 1(g)(v) hereof) whose election by the Board or nomination for election by the Company’s stockholders was
approved by a vote of at least a majority of the directors then still in office who either were directors at the beginning of the
period of whose election or nomination for election was previously approved, cease for any reason to constitute a majority thereof;
(iii) the merger or consolidation of the Company with another corporation where the stockholders of the Company, immediately prior
to the merger or consolidation, will not beneficially own, immediately after the merger or consolidation, shares entitling such
stockholders to 50% or more of all votes to which all stockholders of the surviving corporation would be entitled in the election
of directors (without consideration of the rights of any class of stock to elect directors by a separate class vote); (iv) the
sale or other disposition of all or substantially all of the assets of the Company; (v) a liquidation or dissolution of the Company
or (vi) acceptance by stockholders of the Company of shares in a share exchange if the stockholders of the Company immediately
before such share exchange do not or will not own directly or indirectly immediately following such share exchange more than fifty
percent (50%) of the combined voting power of the outstanding voting securities of the entity resulting from or surviving such
share exchange in substantially the same proportion as their ownership of the voting securities outstanding immediately before
such share exchange. In no event shall a Change in Control be deemed to occur upon (A) an announcement or commencement of a tender
offer, (B) a “potential” takeover, or (C) stockholder approval of a merger or other transaction.

 

With respect to any Award that constitutes
a nonqualified deferred compensation plan within the meaning of Section 409A of the Code and provides for accelerated payment in
connection with a change in control (whether or not in conjunction with a termination of employment), “Change in Control”
for purposes of such accelerated payment shall mean a Change in Control as described above in this Section that is also a “change
in the ownership of a corporation,” a “change in the effective control of a corporation” or a “change in
the ownership of a substantial portion of a corporation” within the meaning of Section 409A of the Code.

 

(i)                
“Code” means the Internal Revenue Code of 1986, as amended from time to time, and any successor thereto.

 

(j)    
 “Committee” means the Compensation Committee of the Board or such other Board committee designated
by the Board to administer the Plan. The Committee shall have at least two members and each member of the Committee shall be a
Non-Employee Director and an Outside Director.

 

    	 	 -2-	 

     

    

 

(k)              
“Director” means a member of the Board.

 

(l)                
“Disability” shall mean permanent and total disability as defined by Section 22(e)(3) of the Code. Notwithstanding
the foregoing, to the extent required for exemption from or compliance with Section 409A of the Code, “Disability”
shall have the meaning given such term by Section 409A of the Code, which generally provides that “Disability” of a
Participant means either (i) the Participant is unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous
period of not less than 12 months, or (ii) the Participant is, by reason of any medically determinable physical or mental impairment
that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving
income replacement benefits for a period of not less than three months under an accident and health plan covering the employees
of the Participant's employer.

 

(m)            
“Effective Date” is defined in Section 20 hereof.

 

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

 

(o)              
“Fair Market Value” means, as of any date, the value of a Share determined as follows: (i) if the
Shares are listed on any established stock exchange or a national market system, including, without limitation, the Nasdaq Global
Market, the Fair Market Value of a Share will be the closing sales price for such stock as quoted on that system or exchange (or
the system or exchange with the greatest volume of trading in Shares) at the close of regular hours trading on the day of determination;
(ii) if the Shares are regularly quoted by recognized securities dealers but selling prices are not reported, the Fair Market
Value of a Share will be the mean between the high bid and low asked prices for Shares at the close of regular hours trading on
the day of determination; or (iii) if Shares are not traded as set forth above, the Fair Market Value will be determined in
good faith by the Committee taking into consideration such factors as the Committee considers appropriate, such determination by
the Committee to be final, conclusive and binding. Notwithstanding the foregoing, in connection with a Change in Control, Fair
Market Value shall be determined in good faith by the Committee, such determination by the Committee to be final conclusive and
binding.

 

(p)              
“Incentive Stock Option” means any Option intended to be an “Incentive Stock Option” within
the meaning of Section 422 of the Code.

 

(q)              
“Non-Employee Director” will have the meaning set forth in Rule 16b-3(b)(3)(i) promulgated by the
Securities and Exchange Commission under the Exchange Act, or any successor definition adopted by the Securities and Exchange Commission.

 

    	 	 -3-	 

     

    

 

(r)               
“Non-Qualified Stock Option” means any Option that is not intended to qualify as an Incentive Stock Option.

 

(s)   
 “Outside Director” means a Director who meets the definition of an “outside director”
under Section 162(m) of the Code.

 

(t)    
 “Option” means any option to purchase Shares (including an option to purchase Restricted Stock,
if the Committee so determines) granted pursuant to Section 5 hereof.

 

(u)              
“Participant” means an employee or Director of the Company or any of its respective Affiliates to whom
an Award is granted.

 

(v)              
“Performance Award” means any Award that, pursuant to Section 9, is granted, vested and/or settled
upon the achievement of specified performance conditions.

 

(w)        “Performance
Goals” shall mean the performance goals or objectives established by the Committee pursuant to the Plan for Awards which
are intended to be “qualified performance-based compensation” within the meaning of Section 162(m) of the Code. Performance
Goals may be measured on an absolute or relative basis. Performance Goals shall be limited to specified levels of or increases
in the Company’s or Subsidiary’s return on equity, diluted earnings per share, total earnings, earnings growth, return
on capital, return on assets, earnings before interest and taxes (“EBIT”), earnings before interest, taxes, depreciation
and amortization (“EBITDA”), sales, sales growth, gross margin, return on investment, increase in the fair market value
of the each Share, Share price (including but not limited to, growth measures and total stockholder return), net earnings, cash
flow (including, but not limited to, operating cash flow and free cash flow), cash flow return on investment (which equals net
cash flow divided by total capital), inventory turns, financial return ratios, total return to stockholders, market share, earnings
measures/ratios, economic value added (“EVA”), balance sheet measurements such as receivable turnover, internal rate
of return, increase in net present value or expense targets, working capital measurements (such as average working capital divided
by sales), customer satisfaction surveys and productivity. The Committee may provide in an Award Agreement that the Performance
Goals for the Award may be adjusted as provided in Section 9(b).

 

(x)              
“Person” means an individual, partnership, corporation, limited liability company, trust, joint venture,
unincorporated association, or other entity or association.

 

(y)              
“Plan” means the Lakeland Industries, Inc. 2017 Equity Incentive Plan herein set forth, as amended from
time to time.

 

(z)              
“Prior Plans” means, collectively, the Lakeland Industries, Inc. 2012 Stock Incentive Plan and Lakeland
Industries, Inc. 2015 Stock Plan.

 

(aa)           
“Restricted Stock” means Shares that are subject to restrictions pursuant to Section 7 hereof.

 

(bb)          
“Restricted Stock Unit” means an Award that is valued by reference to a Share, which value may be paid
to the Participant by delivery of Shares, cash, or other forms of payment, or any combination thereof, as the Committee shall determine
and that are issued subject to certain restrictions pursuant to Section 8 hereof.

 

    	 	 -4-	 

     

    

 

(cc)           
“Restriction Period” means the period of time during which an Award is subject to forfeiture.

 

(dd)          
“Shares” means shares of the Company’s common stock, par value $0.01 per share, subject to substitution
or adjustment as provided in Section 3(c) hereof.

 

(ee)           
“Spread” means, in the case of a Stock Appreciation Right, the amount by which the Fair Market Value
on the date when any such right is exercised exceeds the Base Price specified in such right.

 

(ff)             
“Stock Appreciate Right” means a right granted under Section 10 hereof.

 

(gg)          
“Subsidiary” means, in respect of the Company, a subsidiary company as defined in Sections 424(f)
and (g) of the Code.

 

Section
2. Administration. The Plan shall be administered by the Committee; provided, however, that with respect
to Non-Employee Directors, the Plan shall be administered by the full Board and all references in the Plan to the Committee shall
be deemed to refer to the Board. Any action of the Committee in administering the Plan shall be final, conclusive and binding on
all persons, including the Company, its Subsidiaries, Affiliates, their respect employees, the Participants, persons claiming rights
from or through Participants and stockholders of the Company.

 

The Committee will have full authority to
grant Awards under this Plan and determine the terms of such Awards. Such authority will include the right to:

 

(a)              
select the individuals to whom Awards are granted (consistent with the eligibility conditions set forth in Section 4
hereof);

 

(b)              
determine the type of Award to be granted;

 

(c)              
determine the number of Shares, if any, to be covered by each Award;

 

(d)              
establish the terms and conditions of each Award;

 

(e)              
subject to Section 9, establish the performance conditions and/or Performance Goals relevant to any Award and
certify whether such performance conditions and/or Performance Goals have been satisfied;

 

(f)               
approving forms of agreements (including Award Agreements) for use under the Plan;

 

(g)              
determine whether and under what circumstances an Option may be exercised without a payment of cash under Section 5(d);

 

    	 	 -5-	 

     

    

 

(h)              
modify or amend each Award, subject to Sections 11 and 12;

 

(i)                
extend the period of time for which an Option is to remain exercisable following a Participant’s termination of service
to the Company from the limited period otherwise in effect for that Option to such greater period of time as the Committee deems
appropriate, but in no event beyond the expiration of the term of the Option; and

 

(j)                
with respect to any employee who resides or works outside of the United States, the Committee may, in its sole and absolute
discretion, amend or supplement the terms of the Plan or Awards with respect to such employee as necessary or appropriate to accommodate
the differences in local law, tax policy, or custom so long as no such amendments or supplements include any provisions that are
inconsistent with the terms of the Plan, as then in effect, unless the Plan could have been amended to eliminate such inconsistency
without the further approval by the stockholders of the Company.

 

The Committee will have the authority to adopt,
alter and repeal such administrative rules, guidelines and practices governing the Plan as it, from time to time, deems advisable;
to establish the terms and form of each Award Agreement; to interpret the terms and provisions of the Plan and any Award issued
under the Plan (and any Award Agreement); and to otherwise supervise the administration of the Plan. The Committee may correct
any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award Agreement in the manner and to the extent
it deems necessary to carry out the intent of the Plan.

 

The Committee may delegate to one or more
officers of the Company the authority to grant Awards to Participants who are not subject to the requirements of Section 16 of
the Exchange Act or Section 162(m) of the Code and the rules and regulations thereunder, provided that the Committee shall have
fixed the total number of Shares subject to such delegation. Any such delegation shall be subject to the applicable state and corporate
laws. The Committee may revoke any such allocation or delegation at any time for any reason with or without prior notice.

 

Section
3. Shares Subject to the Plan.

 

(a)  
 Shares Subject to the Plan. Subject to adjustment as provided in Section 3(c) of the Plan, the maximum number
of Shares that may be issued in respect of Awards under the Plan is 360,000 Shares, all of which Shares may be granted as Incentive
Stock Options. As of the Effective Date, no further awards shall be granted pursuant to the Prior Plans, but may be awarded under
this Plan as provided in Section 3(b) hereof. The aggregate grant date fair market value of Awards granted, together with
cash paid, to a Non-Employee Director for services during any fiscal year shall not exceed $300,000. Any Shares issued hereunder
may consist, in whole or in part, of authorized and unissued Shares or treasury Shares. Any Shares issued by the Company through
the assumption or substitution of outstanding grants in connection with the acquisition of another entity shall not reduce the
maximum number of Shares available for delivery under the Plan. In accordance with the requirements under Section 162(m) of the
Code, the maximum number of Shares underlying or subject to Awards (including Options, Restricted Stock, Restricted Stock Units,
Performance Awards, and Stock Appreciation Rights) that may be granted during any calendar year to any individual Participant shall
be fifty percent (50%) of the maximum number of Shares that may be issued in respect of Awards under the Plan.

 

    	 	 -6-	 

     

    

 

(b)  
Effect of the Expiration or Termination of Awards. If and to the extent that any Award expires or terminates,
or is canceled or forfeited for any reason prior to issuance of the Shares subject thereto, or such Award is settled in cash in
lieu of Shares, then the unissued Shares associated with that Award will again become available for grant under the Plan. Any Shares
that are covered under the terms of a Prior Plan award which would otherwise become available for reuse under the terms of a Prior
Plan shall instead become available for issuance under the Plan. Except for expired, forfeited or cancelled Shares, the Plan is
intended to restrict the “recycling” of Shares back into the Plan; this means (i) Shares used or withheld in settlement
of a tax withholding obligation associated with an Award, (ii) Shares tendered or held back upon the exercise of an Option in satisfaction
of the exercise price payable upon exercise of an Option, or (iii) Shares subject to a Stock Appreciation Right that are not issued
or delivered as a result of the net stock settlement of an outstanding Stock Appreciation Right, will not become available for
grant under the Plan.

 

(c)  
Other Adjustment. In the event of any corporate event or transaction such as a merger, consolidation, reorganization,
recapitalization, stock split, reverse stock split, split up, spin-off, combination of shares, exchange of shares, stock dividend,
dividend in kind, or other like change in capital structure (other than ordinary cash dividends) to stockholders of the Company,
or other similar corporate event or transaction affecting the Shares, the Committee, to prevent dilution or enlargement of Participants’
rights under the Plan, shall, in such manner as it may deem equitable, substitute or adjust, in its sole discretion, the number
and kind of shares that may be issued under the Plan or under any outstanding Awards, the number and kind of shares subject to
outstanding Awards, the exercise price, grant price or purchase price applicable to outstanding Awards, and/or any other affected
terms and conditions of this Plan or outstanding Awards. The Committee shall not make any adjustment that would adversely affect
the status of any Award that is “performance-based compensation” under Section 162(m) of the Code.

 

(d)              
Change in Control. Notwithstanding anything to the contrary set forth in the Plan, upon any Change in Control, the
Committee may, in its sole and absolute discretion and without the need for the consent of any Participant, take one or more of
the following actions contingent upon the occurrence of that Change in Control:

 

(i)                
cause any or all outstanding Awards to become vested and immediately exercisable (as applicable), in whole or in part;

 

(ii)             
cancel any unvested Award or unvested portion thereof, with or without consideration;

 

(iii)           
cancel any Award in exchange for a substitute award;

 

(iv)            
redeem any Restricted Stock or Restricted Stock Unit for cash and/or other substitute consideration with value equal to
fair market value of an unrestricted Share on the date of the Change in Control;

 

(v)              
cancel any Option in exchange for cash and/or other substitute consideration with a value equal to: (A) the number
of Shares subject to that Option, multiplied by (B) the difference, if any, between the fair market value per Share on the
date of the Change in Control and the exercise price of that Option; provided, that if the fair market value per Share on
the date of the Change in Control does not exceed the exercise price of any such Option, the Committee may cancel that Option without
any payment of consideration therefor;

 

(vi)            
take such other action as the Committee shall determine to be reasonable under the circumstances; and/or

 

(vii)         
notwithstanding any provision of this Section 3(d), in the case of any Award subject to Section 409A of the Code,
such Award shall vest and be distributed only in accordance with the terms of the applicable Award Agreement and the Committee
shall only be permitted to use discretion to the extent that such discretion would be permitted under Section 409A of the Code.

 

In the discretion of the Committee,
any cash or substitute consideration payable upon cancellation of an Award may be subjected to (i) vesting terms substantially
identical to those that applied to the cancelled Award immediately prior to the Change in Control, or (ii) earn-out, escrow,
holdback or similar arrangements, to the extent such arrangements are applicable to any consideration paid to stockholders in connection
with the Change in Control.

 

    	 	 -7-	 

     

    

 

Section
4. Eligibility. Employees and Directors of the Company or its Affiliates are eligible to be granted Awards
under the Plan; provided, however, that only employees of the Company or a Subsidiary are eligible to be granted Incentive
Stock Options.

 

Section
5. Options.  Options granted under the Plan may be of two types: (i) Incentive Stock Options or (ii) Non-Qualified
Stock Options. The Award Agreement shall state whether such grant is an Incentive Stock Option or a Non-Qualified Stock Option.
Any Option granted under the Plan will be in such form as the Committee may at the time of such grant approve.

 

The Award Agreement evidencing any Option
will incorporate the following terms and conditions and will contain such additional terms and conditions, not inconsistent with
the terms of the Plan, as the Committee deems appropriate in its sole and absolute discretion:

 

(a)              
Option Price. The exercise price per Share under an Option will be determined by the Committee and will not be less
than 100% of the Fair Market Value of a Share on the date of the grant. However, any Incentive Stock Option granted to any Participant
who, at the time the Option is granted, owns, either directly and/or within the meaning of the attribution rules contained in Section 424(d)
of the Code, stock possessing more than 10% of the total combined voting power of all classes of stock of the Company, will have
an exercise price per Share of not less than 110% of Fair Market Value per Share on the date of the grant except as may be required
or otherwise be deemed advisable by the Committee in connection with the Options granted through the assumption of, or substitution
for, outstanding awards previously granted by a company acquired by the Company or any Affiliate with which the Company or any
Affiliate combines.

 

(b)              
Option Term. The term of each Option will be fixed by the Committee, but no Option will be exercisable more than
10 years after the date the Option is granted. However, any Incentive Stock Option granted to any Participant who, at the time
such Option is granted, owns, either directly and/or within the meaning of the attribution rules contained in Section 424(d)
of the Code, stock possessing more than 10% of the total combined voting power of all classes of stock of the Company, may not
have a term of more than 5 years. No Option may be exercised by any Person after expiration of the term of the Option.

 

    	 	 -8-	 

     

    

 

(c)              
Exercisability. Options shall not vest for at least one year after the date the Option is granted, except as (i)
the Committee may determine or permit otherwise in the event of a Change in Control, or (ii) may be required or otherwise be deemed
advisable by the Committee in connection with Options granted through the assumption of, or substitution for, outstanding awards
previously granted by a company acquired by the Company or any Affiliate or with which the Company or any Affiliate combines.

 

(d)              
Method of Exercise. Subject to the terms of the applicable Award Agreement, the exercisability provisions of Section 5(c)
and the termination provisions of Section 6(a), Options may be exercised in whole or in part from time to time during
their term by the delivery of written notice to the Company specifying the number of Shares to be purchased. Such notice will be
accompanied by payment in full of the purchase price, either by certified or bank check, or such other means as the Committee may
accept. The Committee may, in its sole discretion, permit payment of the exercise price of an Option in the form of previously
acquired Shares based on the fair market value of the Shares on the date the Option is exercised or through means of a “net
settlement,” whereby the Option exercise price will not be due in cash and where the number of Shares issued upon such exercise
will be equal to: (A) the product of (i) the number of Shares as to which the Option is then being exercised, and (ii) the
excess, if any, of (a) the then current fair market value per Share over (b) the Option exercise price, divided by (B) the
then current fair market value per Share.

 

No Shares will be issued upon exercise of
an Option until full payment therefor has been made. A Participant will not have the right to distributions or dividends or any
other rights of a stockholder with respect to Shares subject to the Option until the Participant has given written notice of exercise,
has paid in full for such Shares, if requested, has given the representation described in Section 18(a) hereof and
fulfills such other conditions as may be set forth in the applicable Award Agreement.

 

(e)              
Incentive Stock Option Limitations. In the case of an Incentive Stock Option, the aggregate Fair Market Value (determined
as of the time of grant) of the Shares with respect to which Incentive Stock Options are exercisable for the first time by the
Participant during any calendar year under the Plan and/or any other plan of the Company or any Subsidiary will not exceed $100,000.
For purposes of applying the foregoing limitation, Incentive Stock Options will be taken into account in the order granted. To
the extent any Option does not meet such limitation, that Option will be treated for all purposes as a Non-Qualified Stock Option.

 

(f)               
Termination of Service. Unless otherwise specified in the applicable Award Agreement or as otherwise provided by
the Committee at or after the time of grant, Options will be subject to the terms of Section 6(a) with respect to exercise
upon or following termination of employment or other service.

 

    	 	 -9-	 

     

    

 

Section
6. Termination of Service. 

 

(a)  
Options. Unless otherwise specified with respect to a particular Option in the applicable Award Agreement or otherwise
determined by the Committee, any portion of an Option that is not exercisable upon termination of service will expire immediately
and automatically upon such termination and any portion of an Option that is exercisable upon termination of service will expire
on the date it ceases to be exercisable in accordance with this Section 6(a).

 

(i)                
Termination by Reason of Death. If a Participant’s service with the Company or any Affiliate terminates by
reason of death, any Option held by such Participant may thereafter be exercised, to the extent it was exercisable at the time
of his or her death or on such accelerated basis as the Committee may determine at or after grant, by the legal representative
of the estate or by the legatee of the Participant, for a period expiring (i) at such time as may be specified by the Committee
at or after grant, or (ii) if not specified by the Committee, then 12 months from the date of death, or (iii) if sooner
than the applicable period specified under (i) or (ii) above, upon the expiration of the stated term of such Option.

 

(ii)             
Termination by Reason of Disability. If a Participant’s service with the Company or any Affiliate terminates
by reason of Disability, any Option held by such Participant may thereafter be exercised by the Participant or his personal representative,
to the extent it was exercisable at the time of termination, or on such accelerated basis as the Committee may determine at or
after grant, for a period expiring (i) at such time as may be specified by the Committee at or after grant, or (ii) if
not specified by the Committee, then 12 months from the date of termination of service, or (iii) if sooner than the applicable
period specified under (i) or (ii) above, upon the expiration of the stated term of such Option.

 

(iii)           
Cause. If a Participant’s service with the Company or any Affiliate is terminated for Cause: (i) any Option,
or portion thereof, not already exercised will be immediately and automatically forfeited as of the date of such termination, and
(ii) any Shares for which the Company has not yet delivered share certificates will be immediately and automatically forfeited
and the Company will refund to the Participant the Option exercise price paid for such Shares, if any.

 

(iv)            
Other Termination. If a Participant’s service with the Company or any Affiliate terminates for any reason other
than death, Disability or Cause, any Option held by such Participant may thereafter be exercised by the Participant, to the extent
it was exercisable at the time of such termination, or on such accelerated basis as the Committee may determine at or after grant,
for a period expiring (i) at such time as may be specified by the Committee at or after grant, or (ii) if not specified
by the Committee, then 90 days from the date of termination of service, or (iii) if sooner than the applicable period specified
under (i) or (ii) above, upon the expiration of the stated term of such Option.

 

(b)  
Other Awards. In the event of termination of employment by reason of death or Disability of a Participant who holds
any Restricted Stock, Restricted Stock Units, Performance Awards, or Stock Appreciation Rights, as to which such Award has not
been fully vested, the Committee may, in its sole discretion, take any action that it deems to be equitable under the circumstances
or in the best interests of the Company, including without limitation waiving or modifying any limitation, requirement, performance
condition, or Performance Goal with respect to any such Award; provided that, the amount of Shares or cash obtained by virtue of
any accelerated vesting shall not exceed the number determined by multiplying the number of Shares underlying the Award/or cash
value by a fraction, the numerator of which is the number of full months during the Restriction Period during all of which the
participant was an employee of the Company or its Subsidiaries and the denominator of which is the number of full calendar months
in the Restriction Period; and provided further that, in the case of any Award subject to Section 409A of the Code, the Committee
shall not take any action pursuant to this Section 6(b) unless such action is permissible under Section 409A of the Code.

 

    	 	 -10-	 

     

    

 

Section
7. Restricted Stock.

 

(a)              
Issuance. Restricted Stock may be issued either alone or in conjunction with other Awards. The Committee will determine
the time or times within which Restricted Stock may be subject to forfeiture, and all other conditions of such Awards. The purchase
price for Restricted Stock may, but need not, be zero. The prospective recipient of an Award of Restricted Stock will not have
any rights with respect to such Award, unless and until such recipient has delivered to the Company an executed Award Agreement
and has otherwise complied with the applicable terms and conditions of such Award.

 

(b)  
 Certificates. Upon the Award of Restricted Stock, the Committee may direct that a certificate or certificates
representing the number of shares of Common Stock subject to such Award be issued to the Participant or placed in a restricted
stock account (including an electronic account) with the transfer agent and in either case designating the Participant as the registered
owner. The certificate(s) representing such Shares shall be physically or electronically legended, as applicable, as to sale, transfer,
assignment, pledge or other encumbrances during the Restriction Period and if issued to the Participant, returned to the Company,
to be held in escrow during the Restriction Period. As a condition to any Award of Restricted Stock, the Participant may be required
to deliver to the Company a share power, endorsed in blank, relating to the Shares covered by such Award.

 

(c)              
Restrictions and Conditions. The Award Agreement evidencing the grant of any Restricted Stock will incorporate the
following terms and conditions and such additional terms and conditions, not inconsistent with the terms of the Plan, as the Committee
deems appropriate in its sole and absolute discretion:

 

(i)                
During the Restriction Period, the Participant will not be permitted to sell, transfer, pledge, assign or otherwise encumber
Restricted Stock awarded under the Plan. The Committee may condition the lapse of restrictions on Restricted Stock upon the continued
employment or service of the recipient, the attainment of specified individual or corporate performance goals, or such other factors
as the Committee may determine, in its sole and absolute discretion.

 

(ii)             
While any Shares of Restricted Stock remain subject to restriction, at the discretion of the Committee, the Participant
will have, with respect to the Restricted Stock, the right to vote the Shares, but will not have the right to receive any cash
distributions or dividends prior to the lapse of the Restriction Period underlying such Shares. If any cash distributions or dividends
are payable with respect to the Restricted Stock, the Committee shall require the cash distributions or dividends to be subjected
to the same Restriction Period as is applicable to the Restricted Stock with respect to which such amounts are paid. A Participant
shall not be entitled to interest with respect to any dividends or distributions subjected to the Restriction Period. Any distributions
or dividends paid in the form of securities with respect to Restricted Stock will be subject to the same terms and conditions as
the Restricted Stock with respect to which they were paid, including, without limitation, the same Restriction Period.

 

    	 	 -11-	 

     

    

 

(iii)           
The Restriction Period shall be for a minimum of one year, except as (i) the Committee may determine or permit otherwise
in the event of a Change in Control, or (ii) may be required or otherwise be deemed advisable by the Committee in connection with
Restricted Stock granted through the assumption of, or substitution for, outstanding awards previously granted by a company acquired
by the Company or any Affiliate or with which the Company or any Affiliate combines.

 

(iv)            
Subject to the provisions of Section 6(b) hereof, or the applicable Award Agreement, or as otherwise determined by
the Committee, if a Participant’s service with the Company and its Affiliates terminates prior to the expiration of the applicable
Restriction Period, the Participant’s Restricted Stock that then remains subject to forfeiture will then be forfeited automatically.

 

Section
8. Restricted Stock Units. Subject to the other terms of the Plan, the Committee may grant Restricted
Stock Units to eligible individuals and may, in its sole and absolute discretion, impose conditions on such units as it may deem
appropriate, including, without limitation, continued employment or service of the recipient or the attainment of specified individual
or corporate performance goals. Each Restricted Stock Unit shall be evidenced by an Award Agreement in the form that is approved
by the Committee and that is not inconsistent with the terms and conditions of the Plan. Each Restricted Stock Unit will represent
a right to receive from the Company, upon fulfillment of any applicable conditions, one Share for each unit or, at the sole discretion
of the Committee, an amount in cash equal to the fair market value, at the time of distribution, of one Share for each unit. Distributions
may be made in Shares. All other terms governing Restricted Stock Units, such as vesting, time and form of payment and termination
of units shall be set forth in the applicable Award Agreement; provided, however, the period commencing with the date of an Award
of Restricted Stock Units and ending at such time or times as specified by the Committee shall be for a minimum of one year, except
as (i) the Committee may determine or permit otherwise in the event of a Change in Control, or (ii) may be required or otherwise
be deemed advisable by the Committee in connection with Restricted Stock Units granted through the assumption of, or substitution
for, outstanding awards previously granted by a company acquired by the Company or any Affiliate or with which the Company or any
Affiliate combines. The Participant receiving Restricted Stock Units shall not have any voting rights, nor the right to receive
cash dividends, with respect to the Shares subject to a Restricted Stock Unit Award until, if applicable, that Award vests and
the Shares are actually issued thereunder. Subject to the provisions Section 6(b) hereof, or the applicable Award Agreement,
or as otherwise determined by the Committee, if a Participant’s service with the Company terminates prior to the Restricted
Stock Unit Award vesting, the Participant’s Restricted Stock Units that then remain subject to forfeiture will then be forfeited
automatically.

 

    	 	 -12-	 

     

    

 

Section
9. Performance Based Awards.

 

(a)              
Performance Awards Generally. The Committee may grant Performance Awards in accordance with this Section 9.
Performance Awards may be denominated as a number of Shares or specified number of other Awards, which may be earned upon achievement
or satisfaction of such Performance Goals as may be specified by the Committee. In addition, the Committee may specify that any
other Award shall constitute a Performance Award by conditioning the vesting or settlement of the Award upon the achievement or
satisfaction of such Performance Goals as may be specified by the Committee.

 

(b)              
Adjustments to Performance Goals. The Committee may provide in an Award Agreement that the Performance Goals or performance
conditions for the Award be adjusted to include or exclude the impact of items such as realized investment gains and losses, extraordinary,
unusual, non-recurring or infrequently recurring items, asset write-downs, effects of accounting changes, currency fluctuations,
acquisitions, divestitures, reserve-strengthening and other non-operating items, or any other item, event or circumstance that
would not cause an Award to fail to qualify as “performance-based compensation” under Section 162(m) of the Code
to the extent such Award is intended to qualify as “performance-based compensation.”

 

(c)              
Other Terms of Performance Awards. Subject to Section 9(d) below, the Committee may specify other terms pertinent
to a Performance Award in the applicable Award Agreement, including terms relating to the treatment of that Award in the event
of a Change in Control prior to the end of the applicable performance period. The Participant shall not have any stockholder rights
with respect to the Shares subject to a Performance Award until the Shares are actually issued thereunder. Subject to the provisions
of Section 6(b) hereof, or the applicable Award Agreement, or as otherwise determined by the Committee, if a Participant’s
service with the Company terminates prior to the Performance Award vesting, the Participant’s Performance Award or portion
thereof that then remains subject to forfeiture will then be forfeited automatically.

 

(d)              
Minimum Vesting Period. The vesting period in respect of any Performance Award shall be for a minimum of one year,
except as (i) the Committee may determine or permit otherwise in the event of a Change in Control, or (ii) may be required or otherwise
be deemed advisable by the Committee in connection with Performance Awards granted through the assumption of, or substitution for,
outstanding awards previously granted by a company acquired by the Company or any Affiliate or with which the Company or any Affiliate
combines.

 

(e)              
For the avoidance of doubt, nothing in the Plan prohibits the Committee from granting to any Participant any Award subject
to performance vesting conditions which is not intended to be “performance-based compensation” under Section 162(m)
of the Code.

 

    	 	 -13-	 

     

    

 

Section
10. Stock Appreciation Rights. The Committee may also authorize grants to Participants of Stock Appreciation
Rights. A Stock Appreciation Right is the right of the Participant to receive from the Company an amount which shall be determined
by the Committee and shall be expressed as a percentage (not exceeding 100 percent) of the Spread at the time of the exercise of
such right. Any grant of Stock Appreciation Rights shall be upon such terms and conditions as the Committee may determine in accordance
with the following provisions:

 

(a)  
Payment. Any amount payable upon the exercise of a Stock Appreciation Right shall be paid by the Company in cash,
in Shares valued at Fair Market Value, or any combination thereof, as determined by the Committee. Any fractional Share shall be
payable in cash. Any grant may specify that the number of Shares payable upon the exercise of a Stock Appreciation Right shall
not exceed a maximum number of Shares specified by the Committee on the date of grant.

 

(b)  
Vesting Period. The Committee shall determine, on the date of grant or thereafter, the time or times at which,
and the circumstances under which, a Stock Appreciation Right may vest, in whole or in part, including based on achievement of
performance conditions or Performance Goals and/or future employment or service requirements. A grant may specify that a Stock
Appreciation Right may be exercised only in the event of a Change in Control or other similar transaction or event. Notwithstanding
anything in the Plan to the contrary, no Stock Appreciation Right shall be granted with a vesting period that is shorter than one
year, except as (i) the Committee may determine or permit otherwise in the event of a Change in Control, or (ii) may be required
or otherwise be deemed advisable by the Committee in connection with Stock Appreciation Rights granted through the assumption of,
or substitution for, outstanding awards previously granted by a company acquired by the Company or any Affiliate or with which
the Company or any Affiliate combines. 

 

(c)  
Exercise Period. Any grant may specify a waiting period or periods before Stock Appreciation Rights shall become
exercisable and permissible dates or periods on or during which Stock Appreciation Rights shall be exercisable; provided that no
Stock Appreciation Right granted may be exercised more than ten years after the date of grant.

 

(d)  
Base Price. Each grant shall specify in respect of each Stock Appreciation Right a Base Price per Share, which
shall be equal to or greater than the Fair Market Value of such Share on the Grant Date.

 

(e)  
Deemed Exercise. The Committee may provide that a Stock Appreciation Right shall be deemed to be exercised at
the close of business on the scheduled expiration date of such Stock Appreciation Right if at such time the Stock Appreciation
Right by its terms remains exercisable and, if so exercised, would result in a payment pursuant to Section 10(a) hereof
to the holder of such Stock Appreciation Right.

 

    	 	 -14-	 

     

    

 

Section
11. Amendments and Termination. Subject to Sections 3 and 12, the Board may, at any time, may,
at any time, alter, amend, suspend, discontinue or terminate the Plan in whole or in part at any time; provided, however, that
no such action shall adversely affect the rights of Participants to Awards previously granted hereunder and, provided further,
however, that any stockholder approval necessary or desirable in order to comply with tax, securities, or other Applicable Laws
or regulations, including, but not limited to, the listing requirements of the Nasdaq Global Market or such other principal securities
market on which the Shares are then traded, shall be obtained in the manner required therein.

 

Section
12. Prohibition on Repricing Programs. Neither the Committee nor the Board shall (i) implement any
cancellation/re-grant program pursuant to which outstanding Options or Stock Appreciation Rights under the Plan are cancelled and
new Options or Stock Appreciation Rights are granted in replacement with a lower exercise price or Base Price per Share, (ii) cancel
outstanding Options or Stock Appreciation Rights under the Plan with exercise prices or Base Prices per Share in excess of the
then-current Fair Market Value per Share for consideration payable in equity securities of the Company, (iii) otherwise reduce
the exercise price or Base Price in effect for outstanding Options or Stock Appreciation Rights under the Plan, without in each
such instance obtaining stockholder approval, or (iv) take any other action that would be treated as a repricing for U.S. generally
accepted accounting principles.

 

Section
13. Conditions Upon Grant of Awards and Issuance of Shares.

 

(a)              
The implementation of the Plan, the grant of any Award and the issuance of Shares in connection with the issuance, exercise
or vesting of any Award made under the Plan shall be subject to the Company’s procurement of all approvals and permits required
by regulatory authorities having jurisdiction over the Plan, the Awards made under the Plan and the Shares issuable pursuant to
those Awards.

 

(b)              
No Shares or other assets shall be issued or delivered under the Plan unless and until there shall have been compliance
with all applicable requirements of Applicable Law, including the filing and effectiveness of the Form S-8 registration statement
for the Shares issuable under the Plan, and all applicable listing requirements of any stock exchange on which Shares are then
listed for trading.

 

Section
14. Limits on Transferability; Beneficiaries. No Award or other right or interest of a Participant under
the Plan shall be pledged, encumbered, or hypothecated to, or in favor of, or subject to any lien, obligation, or liability of
such Participant to, any party, other than the Company, any Subsidiary or Affiliate, or assigned or transferred by such Participant
otherwise than by will or the laws of descent and distribution, and such Awards and rights shall be exercisable during the lifetime
of the Participant only by the Participant or his or her guardian or legal representative. Notwithstanding the foregoing, the Committee
may, in its discretion, provide that Awards or other rights or interests of a Participant granted pursuant to the Plan (other than
an Incentive Stock Option) be transferable, without consideration, to immediate family members (i.e., children, grandchildren or
spouse), to trusts for the benefit of such immediate family members and to partnerships in which such family members are the only
partners. The Committee may attach to such transferability feature such terms and conditions as it deems advisable. In addition,
a Participant may, in the manner established by the Committee, designate a beneficiary (which may be a person or a trust) to exercise
the rights of the Participant, and to receive any distribution, with respect to any Award upon the death of the Participant. A
beneficiary, guardian, legal representative or other person claiming any rights under the Plan from or through any Participant
shall be subject to all terms and conditions of the Plan and any Award Agreement applicable to such Participant, except as otherwise
determined by the Committee, and to any additional restrictions deemed necessary or appropriate by the Committee.

 

    	 	 -15-	 

     

    

 

Section
15. Withholding. No later than the date as of which an amount first becomes includible in the gross income
of the Participant for federal income tax purposes with respect to any Award under the Plan, the Participant will pay to the Company,
or make arrangements satisfactory to the Company regarding the payment of, any federal, state or local taxes of any kind required
by law to be withheld with respect to such amount. The Committee may, in its sole discretion, permit a Participant to satisfy the
minimum required withholding obligations (or such higher amount that would not have an adverse accounting effect) with Shares,
including Shares that are part of the Award that gives rise to the withholding requirement. The obligations of the Company under
the Plan will be conditioned on such payment or arrangements and the Company will have the right to deduct any such taxes from
any payment of any kind otherwise due to the Participant.

 

Section
16. Liability of Company.

 

(a)              
Inability to Obtain Authority. If the Company cannot, by the exercise of commercially reasonable efforts, obtain
authority from any regulatory body having jurisdiction for the sale of any Shares under this Plan, and such authority is deemed
by the Company’s counsel to be necessary to the lawful issuance of those Shares, the Company will be relieved of any liability
for failing to issue or sell those Shares.

 

(b)              
Grants Exceeding Allotted Shares. If Shares subject to an Award exceed, as of the date of grant, the number of Shares
which may be issued under the Plan without additional stockholder approval, that Award will be contingent with respect to such
excess Shares, on the effectiveness under Applicable Law of a sufficient increase in the number of Shares subject to this Plan.

 

(c)              
Rights of Participants and Beneficiaries. The Company will pay all amounts payable under this Plan only to the applicable
Participant, or beneficiaries entitled thereto pursuant to this Plan. The Company will not be liable for the debts, contracts,
or engagements of any Participant or his or her beneficiaries, and rights to cash payments under this Plan may not be taken in
execution by attachment or garnishment, or by any other legal or equitable proceeding while in the hands of the Company.

 

Section
17. Adjustment; Repayment of Incentive Bonuses. All Awards made under the Plan (whether vested or unvested)
are subject to rescission, cancellation or recoupment, in whole or in part, under any current or future “clawback”
or similar policy or the Company that is applicable to the Participant.

 

    	 	 -16-	 

     

    

 

Section
18. General Provisions.

 

(a)              
The Board may require each Participant to represent to and agree with the Company in writing that the Participant is acquiring
securities of the Company for investment purposes and without a view to distribution thereof and as to such other matters as the
Board believes are appropriate.

 

(b)              
All certificates for Shares or other securities delivered under the Plan will be subject to such share-transfer orders and
other restrictions as the Board may deem advisable under the rules, regulations and other requirements of the Securities Act of
1933, as amended, the Exchange Act, any stock exchange upon which the Shares are then listed, and any other Applicable Law, and
the Board may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions.

 

(c)              
Nothing contained in the Plan will prevent the Board from adopting other or additional compensation arrangements, subject
to stockholder approval if such approval is required.

 

(d)              
Neither the adoption of the Plan nor the execution of any document in connection with the Plan will: (i) confer upon
any employee of the Company or an Affiliate any right to continued employment with the Company or such Affiliate, or (ii) interfere
in any way with the right of the Company or such Affiliate to terminate the employment of any of its employees at any time.

 

Section
19. Electronic Delivery and Signatures. Any reference in the Plan or an Award Agreement to a written document
includes without limitation any document delivered electronically or posted on the Company’s intranet or other shared electronic
medium controlled by the Company, a Subsidiary or any agent of the Company or a Subsidiary. The Committee and any Participant may
use facsimile and PDF signatures in signing any Award Agreement, in exercising any Option, or in any other written document in
connection with the Plan’s administration. The Committee and each Participant are bound by facsimile and PDF signatures,
and acknowledge that the other party relies on facsimile and PDF signatures.

 

Section
20. Effective Date of Plan. The Plan was adopted by the Board on April 25, 2017 and shall be effective
on ____________ (the “Effective date”), the date on which the Plan is approved by the stockholders of the Company.

 

Section
21. Term of Plan. Unless the Plan shall theretofore have been terminated in accordance with Section
11, the Plan shall terminate on _________, the 10-year anniversary of the effective date, and no Awards under the Plan shall
thereafter be granted; provided, however, that such expiration shall not affect Awards then outstanding, and the terms and conditions
of the Plan shall continue to apply to such Awards.

 

Section
22. Invalid Provisions. In the event that any provision of this Plan is found to be invalid or otherwise
unenforceable under any Applicable Law, such invalidity or unenforceability will not be construed as rendering any other provisions
contained herein as invalid or unenforceable, and all such other provisions will be given full force and effect to the same extent
as though the invalid or unenforceable provision was not contained herein.

 

    	 	 -17-	 

     

    

 

Section
23. Governing Law. The Plan and all Awards granted hereunder will be governed by and construed in accordance
with the laws of the State of Delaware, without regard to the application of the principles of conflicts of laws.

 

Section
24. Notices. Any notice to be given to the Company pursuant to the provisions of this Plan must be given
in writing and addressed, if to the Company, to its principal executive office to the attention of its Chief Executive Officer
(or such other Person as the Company may designate in writing from time to time), and, if to a Participant, to the address contained
in the Company’s personnel files, or at such other address as that Participant may hereafter designate in writing to the
Company. Any such notice will be deemed duly given: if delivered personally or via recognized overnight delivery service, on the
date and at the time so delivered; if sent via telecopier or email, on the date and at the time telecopied or emailed with confirmation
of delivery; or, if mailed, five (5) days after the date of mailing by registered or certified mail.

 

Section
25. Indemnification of the Board. No Director shall be liable for any action taken or omitted to be taken
or any determination made in good faith with respect to the Plan or any Award hereunder. To the fullest extent permitted by Applicable
Law, the Company shall indemnify and hold harmless each Director made or threatened to be made a party to any civil or criminal
action or proceeding by reason of the fact that such Director is or was a Director of the Company, to the extent such criminal
or civil action or proceeding relates to the Plan or any Award.

 

Section
26. No Guarantee of Tax Consequences. Notwithstanding any other provision of this Plan, no Person connected
with this Plan in any capacity, including, but not limited to, the Company and its directors, officers, agents, and employees,
makes any representation, commitment, or guarantee that any tax treatment, including, but not limited to, federal, state, and local
income, estate and gift tax treatment, shall be applicable with respect to the tax treatment of any Award, any amounts deferred
under this Plan, or paid to or for the benefit of a Participant under this Plan, or that such tax treatment shall apply to or be
available to a Participant on account of participation in this Plan, or that any of the foregoing amounts shall not be subject
to a penalty tax and interest under Section 409A of the Code.

 

    	 	 -18-

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