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EXECUTION VERSION

AMENDMENT NO. 1 TO RECEIVABLES PURCHASE AGREEMENT AND REAFFIRMATION OF PERFORMANCE GUARANTY

THIS AMENDMENT NO. 1 TO RECEIVABLES PURCHASE AGREEMENT AND 
REAFFIRMATION OF PERFORMANCE GUARANTY (this “Amendment”), dated as of December 21, 2021 is among AVANTAR RECEIVABLES FUNDING, LLC, a Delaware limited liability company, as seller (the “Seller”), VWR INTERNATIONAL, LLC, a Delaware limited liability company (together with its successors and permitted assigns, “VWR”), as servicer (in such capacity, together with its successors and permitted assigns in such capacity, the “Servicer”), AVANTOR FUNDING, INC., as performance guarantor (in such capacity, together with its successors and permitted assigns in such capacity, the “Performance Guarantor”), PNC BANK, NATIONAL ASSOCIATION (“PNC”), as administrator (in such capacity, together with its successors and assigns in such capacity, the “Administrator”), PNC, as issuer of Letters of Credit (in such capacity, together with its successors and assigns in such capacity, the “LC Bank”), PNC, as related committed purchaser (in such capacity, together with its successors and assigns in such capacity, the “Related Committed Purchaser”) and PNC as purchaser agent for the PNC Purchaser Group (in such capacity, together with its successors and assigns in such capacity, the “Purchaser Agent”).
RECITALS

WHEREAS, the Seller, the Servicer, the LC Bank, the Related Committed Purchaser, the Purchaser Agent and the Administrator are parties to that certain Receivables Purchase Agreement, dated as of March 27, 2020 (as amended, supplemented, modified or restated prior to the date hereof, the “Existing Agreement”, and as amended hereby and as may be further amended, supplemented, modified or restated from time to time, the “Agreement”);
WHEREAS, certain purchases and/or other extensions of credit under the Existing Agreement (“Purchases”) denominated in EUROS, (the “Impacted Currency”) incur or are permitted to incur interest, fees, commissions or other amounts based on the EURIBOR administered by as reported by Bloomberg Finance L.P. (“EURIBOR”) in accordance with the terms and conditions of the Existing Agreement;
WHEREAS, applicable parties under the Existing Agreement have determined that purchase made, continued or converted under the Existing Agreement denominated in Impacted Currency on or after the Effective Date that would otherwise bear interest based on EURIBOR (including, without limitation, any such rate provided on a changed methodology (or “synthetic”) basis), shall be replaced with a successor rate for all purposes under the Agreement and under any other Transaction Document, subject to the terms and conditions set forth in this Amendment; and

WHEREAS, the parties hereto are not related within the meaning of Section 267(b) or 707(b)(1) of the Internal Revenue Code of 1986 and have determined, based on bona fide, arm’s length negotiations between the parties, that the fair market value of the Agreement before giving effect to this Amendment is substantially equivalent to its fair market value after giving effect hereto.

NOW, THEREFORE, in consideration of their mutual covenants and agreements hereinafter set forth and intending to be legally bound hereby, the parties hereto covenant and agree as follows:
1.Incorporation of Recitals. The foregoing recitals are incorporated herein by reference as if fully set forth herein.

2.Certain Definitions. Capitalized terms used herein but not otherwise defined herein (including on Appendix A attached hereto) shall have the meanings assigned to such terms in the Existing Agreement.
3.Amendments. Notwithstanding any provision of the Existing Agreement or any Transaction Document to the contrary, the parties hereto hereby agree that the terms set forth on Appendix A shall apply solely to Purchases made, continued or converted in the Impacted Currency from and after the Effective Date. For the avoidance of doubt, to the extent provisions in the Existing Agreement apply to Purchases made in Impacted Currency and such provisions are not specifically addressed by Appendix A, such provisions in the Existing Agreement shall continue to apply to Purchases made in Impacted Currency from and after the Effective Date. In the event of a conflict between the terms of this Amendment and the terms of the Existing Agreement or any other Transaction Document, the terms of this Amendment shall control with respect to Purchases denominated in the Impacted Currency. For the avoidance of doubt, the provisions of this Amendment will supersede and govern any provisions of the Existing Agreement relating to the unavailability of or inability to ascertain rates or benchmark replacements as they apply to the Impacted Currency on and after the Effective Date, and the execution and delivery of this Amendment by the Seller, Servicer and the Performance Guarantor shall be deemed to satisfy and discharge any and all requirements under the Existing Agreement for notices to be furnished to the Seller, Servicer or Performance Guarantor in connection with the replacement of any benchmark applicable to Purchases denominated in the Impacted Currency, as contemplated by this Amendment.
4.Representations and Warranties. The Seller, Servicer and Performance Guarantor hereby represent and warrant that: (a) no Termination Event or Unmatured Termination Event exists or will exist immediately after giving effect to the transactions contemplated hereby, (b) all representations and warranties of such party contained in the Existing Agreement, in this Amendment and in the other Transaction Documents are true and correct in all material respects (without duplication of any materiality qualifiers), (c) the execution, delivery and performance of this Amendment and any other document related hereto by such party have been duly authorized by all necessary corporate or other organizational action, and (d) this Amendment and any other document related hereto have been duly executed and delivered by such party.
5.Limitation; Effect of Amendment. No provision of the Existing Agreement or any other Transaction Document is amended or waived in any way other than as provided herein. Except as set forth expressly herein, all terms of the Existing Agreement and the other Transaction Documents shall be and remain in full force and effect and are hereby ratified and confirmed, and shall constitute the legal, valid, binding, and enforceable obligations of the parties thereto. As of the date hereof, each reference in the Existing Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of like import, and each reference in the other Transaction Documents to the Existing Agreement (including, without limitation, by means of words like “thereunder,” “thereof”, “therein” and words of like import), shall mean and be a reference to the Existing Agreement as amended by this Amendment. This Amendment constitutes a Transaction Document.
6.No Novation or Mutual Departure. The Seller, the Servicer and the Performance Guarantor expressly acknowledge and agree that there has not been, and this Amendment does not constitute or establish, a novation with respect to the Existing Agreement or any of the Transaction Documents, or a mutual departure from the strict terms, provisions, and conditions thereof other than with respect to the amendments in Section 3 of this Amendment.

7.Counterparts; Effectiveness.
(a)This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. The Effective Date of this Amendment, as set forth above, shall be completed by the Administrator as of the date when this Amendment shall have been executed by the Administrator and when the Administrator shall have received counterparts of this Amendment, properly executed by the Seller, the Servicer the Performance Guarantor, the LC Bank, the Related Committed Purchaser and the Purchaser Agent.
(b)The words “execution,” “signed,” “signature,” and words of like import in this Amendment shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. The parties hereto agree that this Amendment may, at the Administrator’s option, be in the form of an electronic record and may be signed or executed using electronic signatures. For the avoidance of doubt, the authorization under this paragraph may include, without limitation, use or acceptance by the Administrator of a manually signed paper signature page which has been converted into electronic form (such as scanned into PDF format) for transmission, delivery and/or retention.
8.Section Headings. Section headings used in this Amendment are for convenience of reference only and shall not govern the interpretation of any of the provisions of this Amendment.
9.Severability. The provisions of this Amendment are intended to be severable. If any provision of this Amendment shall be held invalid or unenforceable in whole or in part in any jurisdiction, such provision shall, as to such jurisdiction, be ineffective to the extent of such invalidity or unenforceability without in any manner affecting the validity or enforceability thereof in any other jurisdiction or the remaining provisions hereof in any jurisdiction.
10.Fees and Costs. Seller will pay on demand all out-of-pocket fees, costs, and expenses of Administrator, including but not limited to the fees and expenses of outside counsel, in connection with the preparation, execution, and delivery of this Amendment in each case subject to and in the manner set forth in Section 6.4(a) of the Existing Agreement.
11.Governing Law, Etc. The terms of the Existing Agreement relating to governing law, submission to jurisdiction, waiver of venue and waiver of jury trial are incorporated herein by reference, mutatis mutandis, and the parties hereto agree to such terms.
12.Reaffirmation of the Performance Guaranty. After giving effect to this Amendment and the transactions contemplated by this Amendment, all of the provisions of the Performance Guaranty shall remain in full force and effect and the Performance Guarantor hereby ratifies and affirms the Performance Guaranty and acknowledges that the Performance Guaranty has continued and shall continue in full force and effect in accordance with its terms.
13.Construction. Reference to this Amendment means this Amendment, together with Appendix A attached hereto.

[Signature Pages Follow]

    IN WITNESS WHEREOF, the parties hereto, by their officers thereunto duly authorized, have executed this Amendment as of the day and year first above written.

ATTEST:                    AVANTOR RECEIVABLES FUNDING, LLC, 
                        as Seller

                        By:______________________________________
                        
                        Name:____________________________________

                        Title:_____________________________________

                        

VWR INTERNATIONAL, LLC, as Servicer

                        By:______________________________________

                        Name:____________________________________

                        Title:_____________________________________

                        
PNC BANK, NATIONAL ASSOCIATION, 
                        Individually and as Adminstrator, LC Bank,
                        Related Committed Purchaser and Purchaser Agent

                        
By:_______________________________________

                        Name:_____________________________________

                        Title:______________________________________

AVANTOR FUNDING, INC. as Performance
Guarantor

By:___________________________________

Name:_________________________________

Title:__________________________________

    

Amendment No. 1 to Receivables Purchase Agreement (PNC-VWR)

S-1

Appendix A
1.Section References. Unless otherwise specified, section references contained in this Appendix A shall be deemed to refer to sections of this Appendix A.
2.Definitions. The following terms shall have the following meanings for purposes of this Amendment, including this Appendix A and the provisions contained herein:
“Affected Currency” means EUROS.
“Available Tenor” means, as of any date of determination and with respect to the then-current Benchmark for the Affected Currency, as applicable, (x) if the then-current Benchmark for the Affected Currency is a term rate, any tenor for such Benchmark that is or may be used for determining the length of an Yield Period or (y) otherwise, any payment period for interest calculated with reference to such Benchmark for the Affected Currency, as applicable, pursuant to this Agreement as of such date. For the avoidance of doubt, the Available Tenor for the Daily Simple RFR is one month.
“Benchmark” means, initially, with respect to any Obligations, interest, fees, commissions, or other amounts denominated in, or calculated with respect to the Affected Currency, the Daily Simple RFR or Term RFR applicable for the Affected Currency, and includes any replacement for such Benchmark implemented in accordance with the provisions of the Agreement.
“Benchmark Replacement” means, with respect to the Affected Currency for any Available Tenor for the applicable Benchmark Replacement Date: the sum of (A) the alternate benchmark rate that has been selected by the Administrator and the Seller as the replacement for the then-current Benchmark for the applicable Available Tenor giving due consideration to any evolving or then-prevailing market convention, including any applicable recommendations made by the Relevant Governmental Body, for U.S. dollar-denominated syndicated credit facilities at such time and (B) the related Benchmark Replacement Adjustment; provided, that if the Benchmark Replacement as determined above would be less than the Floor, the Benchmark Replacement will be deemed to be the Floor for the purposes of the Agreement and the other Transaction Documents; and provided further, that any such Benchmark Replacement shall be administratively feasible as determined by the Administrator in its sole discretion; and provided further, that with respect to a Term RFR Transition Event for the Affected Currency, on the Term RFR Transition Date the “Benchmark Replacement” shall be the Term RFR for the Affected Currency.
“Benchmark Replacement Adjustment” means, with respect to any replacement of the then-current Benchmark relating to the Affected Currency with an Unadjusted Benchmark Replacement for any applicable Available Tenor for any setting of such Unadjusted Benchmark Replacement, the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Administrator and the Seller for the applicable Corresponding Tenor giving due consideration to any evolving or then-prevailing market convention, including any applicable recommendations made by the Relevant Governmental Body, for U.S. dollar-denominated syndicated credit facilities at such time; provided that, if the then-current Benchmark is a term rate, more than one tenor of such Benchmark is available as of the applicable Benchmark Replacement Date and the applicable Unadjusted Benchmark Replacement will not be a term rate, the Available Tenor of such Benchmark for purposes of this definition of “Benchmark Replacement Adjustment” shall be deemed to be the Available Tenor that has approximately the same length (disregarding business day adjustments) as the payment period for interest calculated with reference to such Unadjusted Benchmark Replacement.

“Benchmark Replacement Date” means, with respect to the Affected Currency, a date and time determined by the Administrator, which date shall be at the end of a Yield Period, if applicable, and no later than the earliest to occur of the following events with respect to the then- current Benchmark:
(1)in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the later of (A) the date of the public statement or publication of information referenced therein and (B) the date on which the administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof);
(2)in the case of clause (3) of the definition of “Benchmark Transition Event,” the date determined by the Administrator, which date shall promptly follow the date of the public statement or publication of information referenced therein; or
(3)in the case of a Term RFR Transition Event, the date that is set forth in the Term RFR Notice provided to the Purchasers and the Seller pursuant to Section 4(k) which date shall be at least 30 days from the date of the Term RFR Notice.
For the avoidance of doubt, (i) if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination and (ii) the “Benchmark Replacement Date” will be deemed to have occurred in the case of clauses (1), (2) or (3) of this definition with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof).
“Benchmark Transition Event” means the occurrence of one or more of the following events, with respect to any then-current Benchmark for the Affected Currency:
(1)a public statement or publication of information, by or on behalf of the administrator of such Benchmark for the Affected Currency (or the published component used in the calculation thereof), announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark for the Affected Currency (or such component thereof), permanently or indefinitely; provided that, at the time of such statement or publication there is no successor administrator that will continue to provide any Available Tenor of such Benchmark for the Affected Currency (or component thereof);
(2)a public statement or publication of information by a Governmental Authority having jurisdiction over the Administrator, the regulatory supervisor for the administrator of such Benchmark for the Affected Currency (or the published component used in the calculation thereof), the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, an insolvency official with jurisdiction over the administrator for such Benchmark for the Affected Currency (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark for the Affected Currency (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark for the Affected Currency (or such component), which states that the administrator of such Benchmark for the Affected Currency (or such component) has ceased or will cease to provide all Available Tenors of such Benchmark for the Affected Currency (or such component thereof) permanently or indefinitely; provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark for the Affected Currency (or such component thereof); or

(3)a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof) or a Governmental Authority having jurisdiction over the Administrator announcing that all Available Tenors of such Benchmark (or such component thereof) are no longer representative.
“Benchmark Unavailability Period” means the period (if any) (x) beginning at the time that a Benchmark Replacement Date pursuant to clauses (1) or (2) of that definition has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes under the Agreement and under any Transaction Document in accordance with Section 4(k) and (y) ending at the time that a Benchmark Replacement has replaced the then- current Benchmark for all purposes under the Agreement and under any Transaction Document in accordance with Section 4(k).
“Business Day” means any day other than a Saturday or Sunday or a legal holiday on which commercial banks are authorized or required to be closed for business in Pittsburgh, Pennsylvania and if the applicable Business Day relates to any direct or indirect calculation or determination of, or is used in connection with any interest rate settings, fundings, disbursements, settlements, payments, or other dealings with respect to any RFR Purchase, the term “Business Day” means any such day that is also an RFR Business Day.
“Conforming Changes” means, with respect to Daily Simple RFR, Term RFR, or any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Base Rate,” the definition of “Business Day,” the definition of “Yield Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrator decides may be appropriate to reflect the adoption and implementation of any Daily Simple RFR, Term RFR, or Benchmark Replacement and to permit the administration thereof by the Administrator in a manner substantially consistent with market practice (or, if the Administrator decides that adoption of any portion of such market practice is not administratively feasible or if the Administrator determines that no market practice for the administration of Daily Simple RFR, Term RFR, or any Benchmark Replacement exists, in such other manner of administration as the Administrator decides is reasonably necessary in connection with the administration of the Agreement and the other Transaction Documents).
“Corresponding Tenor” with respect to any Available Tenor means, as applicable, either a tenor (including overnight) or an interest payment period having approximately the same length (disregarding business day adjustment) as such Available Tenor.
“Daily Simple RFR” means, for any day (an “RFR Day”), a rate per annum determined by the Administrator, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to the Daily Simple RFR below by dividing (the resulting quotient rounded upwards, at the Administrator’s discretion, to the nearest 1/100 of 1%) (a) the Daily Simple RFR set forth below by (b) a number equal to 1.00 minus the RFR Reserve Percentage:
€STR for the day (such day, adjusted as applicable as set forth herein, the “€STR Lookback Day”) that is two (2) Business Days prior to (A) if such RFR Day is a Business Day, such RFR Day or (B) if such RFR Day is not a Business Day, the Business Day immediately preceding such RFR Day, in each case, as such €STR is published by the €STR Administrator on the €STR Administrator’s Website;

provided that if the sum of the adjusted rate as determined above plus the applicable RFR Adjustment would be less than the Floor, such rate shall be deemed to be the Floor for purposes of the Agreement. The adjusted Daily Simple RFR rate for each outstanding RFR Purchase shall be adjusted automatically as of the effective date of any change in the RFR Reserve Percentage. The Administrator shall give prompt notice to the Seller of the adjusted Daily Simple RFR as determined or adjusted in accordance herewith, which determination shall be conclusive absent manifest error.
If by 5:00 pm (local time for the applicable RFR) on the second (2nd) Business Day immediately following any Daily Simple RFR Lookback Day, the RFR in respect of such Daily Simple RFR Lookback Day has not been published on the applicable RFR Administrator’s Website and a Benchmark Replacement for the applicable Daily Simple RFR has not been instituted in accordance with the provisions of the Agreement, then the RFR for such Daily Simple RFR Lookback Day will be the RFR as published in respect of the first preceding Business Day for which such RFR was published on the RFR Administrator’s Website; provided that any RFR determined pursuant to this sentence shall be utilized for purposes of calculation of Daily Simple RFR for no more than three (3) consecutive RFR Days. Any change in Daily Simple RFR due to a change in the RFR shall be effective from and including the effective date of such change in the RFR without notice to the Seller.
“Daily Simple RFR Lookback Days” means, €STR Lookback Day.
“Daily Simple RFR Option” means the option of the Seller to have Purchases bear interest at the rate and under the terms specified in Section 4(e)(i)(B).
“Dollar Equivalent” means, for any amount, at the time of determination thereof,
(a)if such amount is expressed in the Affected Currency, the equivalent of such amount in Dollars determined by using the rate of exchange for the purchase of Dollars with the Affected Currency last provided (either by publication or otherwise provided to the Administrator or the LC Bank, as applicable) by the applicable Bloomberg source (or such other publicly available source for displaying exchange rates as determined by the Administrator or the LC Bank, as applicable, from time to time) on the date that is the applicable Daily RFR Lookback Day (for amounts relating to RFR Purchases and Letters of Credit denominated in the Affected Currency to which a Daily Simple RFR would apply) immediately preceding the date of determination, or otherwise on the date which is two (2) Business Days immediately preceding the date of determination or otherwise with respect to Purchases to which any other Interest Rate Option applies, the lookback date applicable thereto (or if such service ceases to be available or ceases to provide such rate of exchange, the equivalent of such amount in Dollars as determined by the Administrator or the LC Bank, as applicable using any method of determination it deems appropriate in its sole discretion) and (b) if such amount is denominated in any other currency, the equivalent of such amount in Dollars as determined by the Administrator or the LC Bank, as applicable, using any method of determination it deems appropriate in its sole discretion. Any determination by the Administrator or the LC Bank pursuant to this definition shall be conclusive absent manifest error.
“€STR” means a rate equal to the Euro Short Term Rate as administered by the 
  €STR Administrator.

“€STR Administrator” means the European Central Bank (or any successor administrator of the Euro Short Term Rate).

“€STR Administrator’s Website” means the European Central Bank’s website, currently at http://www.ecb.europa.eu, or any successor source for the Euro Short Term Rate identified as such by the €STR Administrator from time to time.
“Floor” means a rate of interest equal to 0%.

“IOSCO Principles” means the International Organization of Securities Commissions’ (IOSCO) Principles for Financial Benchmarks, as the same may be amended or supplemented from time to time.
“Obligations” means any obligation or liability of any of the Seller, Servicer or Performance Guarantor, howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, now or hereafter existing, or due or to become due, under or in connection with this Agreement, or any other Transaction Document whether to the Administrative Agent, any of the Purchaser or their Affiliates or other persons provided for under such Transaction Documents.
“Portion of Capital” shall mean specified portions of the Purchases outstanding as follows: any Purchases to which a Daily Simple RFR Option applies which are in the same Affected Currency shall constitute one Portion of Capital.
“Reference Time” means, with respect to any setting of the then-current Benchmark, the time determined by the Administrator in its reasonable discretion.

“Relevant Governmental Body” means with respect to a Benchmark Replacement in respect of Purchases denominated in the Affected Currency, (1) the central bank for the Affected Currency in which such Benchmark Replacement is denominated or any central bank or other supervisor which is responsible for supervising either (A) such Benchmark Replacement or (B) the administrator of such Benchmark Replacement or (2) any working group or committee officially endorsed or convened by (A) the central bank for the Affected Currency in which such Benchmark Replacement is denominated, (B) any central bank or other supervisor that is responsible for supervising either (i) such Benchmark Replacement or (ii) the administrator of such Benchmark Replacement, (C) a group of those central banks or other supervisors or (D) the Financial Stability Board or any part thereof.
“RFR” means, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to, EURO, €STR.

“RFR Adjustment” means with respect to RFR Purchases or Term RFR Rate Purchases, the adjustment set forth in the table below corresponding to the Affected Currency for the corresponding Daily Simple RFR Option or Term RFR Option:

									
	Currency
	Adjustment to Daily Simple RFR
	Adjustment to Term RFR

	EUROS
	0.0456%
	0.0456%

“RFR Administrator” means the €STR Administrator.
“RFR Administrator’s Website” means the €STR Administrator’s Website.
“RFR Business Day” means as applicable, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to EURO, a TARGET Day.
“RFR Purchase” means a Purchase that bears interest at a rate based on a Daily Simple RFR or, after the replacement of the then-current Benchmark for the Affected Currency for all purposes hereunder or under any Transaction Document with a Term RFR pursuant to Section 4(n), the Term RFR for the Affected Currency, as the context may require.
“RFR Reserve Percentage” means as of any day, the maximum effective percentage in effect on such day, if any, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including, without limitation, supplemental, marginal and emergency reserve requirements) with respect to RFR Purchases.
TARGET2” means the Trans-European Automated Real-time Gross Settlement Express Transfer payment system which utilizes a single shared platform and which was launched on November 19, 2007.
“TARGET Day” means any day on which TARGET2 is open for the settlement of payments in EUROS.

“Term RFR” means, with respect to the Affected Currency for any Yield Period, a rate per annum determined by the Administrator, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to any applicable Term RFR Forward Looking Rate by dividing (the resulting quotient rounded upwards, at the Administrator’s discretion, to the nearest 1/100 of 1%) (a) the applicable Term RFR Forward Looking Rate by (b) a number equal to 1.00 minus the Term RFR Reserve Percentage; provided that if the sum of the adjusted rate as determined above plus the applicable RFR Adjustment would be less than the Floor, such rate shall be deemed to be the Floor for purposes of this Agreement. The adjusted Term RFR rate for each outstanding Term RFR Rate Purchase shall be adjusted automatically as of the effective date of any change in the Term RFR Reserve Percentage. The Administrator shall give prompt notice to the Seller of the adjusted Term RFR Rate as determined or adjusted in accordance herewith, which determination shall be conclusive absent manifest error.

“Term RFR Forward Looking Rate” means, with respect to the Affected Currency for any Yield Period, the forward-looking term rate for a period comparable to such Yield Period based on the RFR for the Affected Currency that is published by an authorized benchmark administrator and is displayed on a screen or other information service, each as identified or selected by the Administrator in its reasonable discretion at approximately a time and as of a date prior to the commencement of such Yield Period determined by the Administrator.
“Term RFR Notice” means a notification by the Administrator to the Purchasers and the Seller of the occurrence of a Term RFR Transition Event.
“Term RFR Option” means the option of the Seller to have Purchases bear interest at the rate and under the terms specified in Section 4(e)(i)(A).
“Term RFR Rate Purchase” means a Purchase in the Affected Currency that bears interest at a rate based on Term RFR.
“Term RFR Rate Purchase Option” means the option of the Seller to have Purchases in the Affected Currency bear interest at the rate and under the term specified in Section 4(e)(i)(A).
“Term RFR Transition Date” means, in the case of a Term RFR Transition Event, the date that is set forth in the Term RFR Notice provided to the Purchasers and the Seller pursuant to Section 4(n), which date shall be at least 30 (thirty) calendar days from the date of the Term RFR Notice.
“Term RFR Transition Event” means, with respect to the Affected Currency for any Yield Period, the determination by the Administrator that (a) the applicable Term RFR for the Affected Currency is determinable for each Available Tenor, (b) the administration of such Term RFR is administratively feasible for the Administrator, (c) the RFR Administrator publishes, publicly announces or makes publicly available that such Term RFR is administered in accordance with the IOSCO Principles, (d) such Term RFR is used as a benchmark rate in at least five currently outstanding syndicated credit facilities denominated in the Affected Currency (and such syndicated credit facilities are identified and are publicly available for review), and (e) such Term RFR is recommended for use by a Relevant Governmental Body.
“Unadjusted    Benchmark    Replacement”    means    the    applicable    Benchmark Replacement excluding the related Benchmark Replacement Adjustment.

3.Effect of Definitions. The Existing Agreement is hereby amended and modified to incorporate the definitions set forth in Section 2, mutatis mutandis, to the extent used in the Agreement, including as a result of the effectiveness of this Amendment. If the Existing Agreement as in effect immediately prior to giving effect to the provisions of this Amendment already defines any term defined in Section 2, the corresponding definition in Section 2 shall (y) to the extent that such definition also relates to Purchases other than those denominated in the Affected Currency, supplement such definition in the Existing Agreement and (z) to the extent that such definition relates solely to Purchases denominated in the Affected Currency, supersede such definition in the Existing Agreement, in each case, solely with respect to Purchases denominated in the Affected Currency, for the purpose and solely for the purpose of the definitions and provisions contained in this Amendment.
4.Terms Applicable to Purchases in Affected Currency.
(a)Affected Currency. Notwithstanding anything to the contrary herein or in any other Transaction Document, effective as of the Effective Date, (i) the Alternate Rate shall not be available for any Purchase denominated in the Affected Currency, and (ii) any request for a new Purchase denominated in the Affected Currency, or to continue or convert an existing Purchase denominated in the Affected Currency, shall be deemed to be a request for a new RFR Purchase denominated in the Affected Currency; provided, that to the extent any Purchase denominated in the Affected Currency and bearing interest at the Alternate Rate is outstanding on the Effective Date, such Purchase shall continue to bear interest at the Alternate Rate until the end of the current Yield Period or payment period applicable to such Purchase; provided that, in the case of a Purchase that bears interest at a daily floating rate with no Yield Period, such Purchase shall be deemed to be an RFR Purchase immediately upon the Effective Date.
(b)References to Alternate Rate, and Yield Period in the Agreement and Transaction Documents.
(i)References to the Alternate Rate in provisions of the Agreement and the other Transaction Documents that are not specifically addressed herein (other than the definitions of “Alternate Rate”) shall be deemed to mean, with respect to Affected Currency, the Daily Simple RFRs, Term RFRs, Daily Simple RFR Option and Term RFR Option, as applicable, for the Affected Currency.
(ii)For purposes of any requirement for the Seller to compensate the Purchasers for losses in the Agreement resulting from any continuation, conversion, payment or prepayment of any Purchase that bears interest based upon the Alternate Rate on a day other than the last day of any Yield Period (as defined in the Agreement), references to the Yield Period (as defined in the Agreement) shall be deemed to include any relevant interest payment date or payment period for a Term RFR Rate Purchase.
(c)Interest Rates. The Administrator does not warrant or accept responsibility for and shall not have any liability with respect to the administration, submission or any other matter related to the rates in the definition of “RFR”, “Daily Simple RFR” or “Term RFR”, or with respect to any     alternative or successor rate thereto, or replacement rate therefor, or of any Conforming Changes.

(d)Conforming Changes. With respect to any Daily Simple RFR, Term RFR, or any Benchmark Replacement, the Administrator will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein, in the Agreement or in any other Transaction Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Amendment, the Agreement or any other Transaction Document; provided that with respect to any such amendment effected, the Administrator shall provide notice to the Seller and the Purchasers of each such amendment implementing such Conforming Changes reasonably promptly after such amendment becomes effective.
(e)Interest Rate Options. Subject to the provisions of the Existing Agreement relating to default interest and numbers of Portion of Capitals, the Seller shall pay interest in respect of the outstanding unpaid principal amount of the Purchases denominated in the Affected Currency as selected by it from the applicable Interest Rate Options specified below applicable to the Purchases, it being understood that, subject to the provisions of the Agreement, the Seller may select different Interest Rate Options and different Yield Periods to apply simultaneously to the Purchases denominated in the Affected Currency comprising different Portion of Capitals and may renew one or more Interest Rate Options with respect to all or any portion of the Purchases denominated in the Affected Currency comprising any Portion of Capital; provided that if an Termination Event or Unmatured Termination Event exists and is continuing, the Seller may not request or renew any Term RFR Rate Purchase Option or Daily Simple RFR Option for any Purchases and the Majority Purchaser Agents may demand that all existing Portions of Capital denominated in the Affected Currency shall either (i) (x) in relation to Term RFR Rate Purchases, be converted immediately to the Base Rate denominated in Dollars (in an amount equal to the Dollar Equivalent of the Affected Currency) at the end of the Yield Period therefor; and (y) in relation to Daily Simple RFR Purchases, be converted immediately to the Base Rate denominated in Dollars (in an amount equal to the Dollar Equivalent of the Affected Currency) or (ii) in relation to Term RFR Rate Purchases, be prepaid at the end of the applicable Yield Period in full, subject in all cases to the obligation of the Seller to pay any indemnity under the Agreement in connection with any such conversion. If at any time the designated rate applicable to any Purchase made by any Purchaser exceeds such Purchaser’s highest lawful rate, the rate of interest on such Purchaser’s Purchase shall be limited to such Purchaser’s highest lawful rate. The applicable Base Rate, Daily Simple RFR or Term RFR shall be determined by the Administrator, and such determination shall be conclusive absent manifest error. Interest on the principal amount of each Purchase denominated in the Affected Currency shall be paid by the Seller in the Affected Currency.

(i)Purchase Interest Rate Options. The Seller shall have the right to select from the following Interest Rate Options applicable to the Purchases denominated in the Affected Currency:

(A)Term RFR Option: On and after the Term RFR Transition Date with respect to the Affected Currency, in the case of Purchases denominated in the Affected Currency that bear interest based on a Term RFR, a rate per annum (computed on the basis of a year of 360 days and actual days elapsed, except that interest on Purchases denominated in Affected Currency as to which market practice differs from the foregoing shall be computed in accordance with market practice for such Purchases) equal to the Term RFR for the Affected Currency as determined for each applicable Yield Period plus the RFR Adjustment.

(B)Daily Simple RFR Option: Prior to the Term RFR Transition Date with respect to Purchases that bear interest at a rate based on a Daily Simple RFR denominated in the Affected Currency, a fluctuating rate per annum (computed on the basis of a year of 360 days and actual days elapsed, except that interest on Purchases denominated in the Affected Currency as to which market practice differs from the foregoing shall be computed in accordance with market practice for such Purchases) equal to the Daily Simple RFR for the Affected Currency plus the RFR Adjustment, such interest rate to change automatically from time to time effective as of the effective date of each change in the applicable Daily Simple RFR.
(f)Interest Payment Dates. Interest on Purchases denominated in the Affected Currency to which the Term RFR Option applies shall be due and payable on the last day of each Yield Period for those Purchases and, if such Yield Period is longer than three (3) months, also on the 90th day of such Yield Period, and at such other times as may be specified in the Agreement. Interest on Purchases denominated in Affected Currency to which the Daily Simple RFR Option applies shall be due and payable in arrears on each Settlement Date applicable thereto and at such other times as may be specified in the Agreement.
(g)Yield Periods. At any time when the Seller shall select any RFR Purchase, or convert to or renew a Term RFR Option with respect to Purchases denominated in the Affected Currency, the Seller shall notify the Administrator thereof at least four (4) Business Days prior to the effective date of (y) the selection of such Daily Simple RFR Option or such Term RFR Option, or (z) the conversion to or renewal of such Term RFR Option, in each case, by delivering a Purchase Notice. The notice shall specify a Yield Period during which such Interest Rate Option shall apply. Notwithstanding the preceding sentence, the following provisions shall apply to any selection of, renewal of, or conversion to a Term RFR Rate Purchase Option:
i.Amount of Portion of Capital. Each Portion of Capital of Purchases under the Term RFR Rate Purchase Option shall be in integral multiples of the Dollar Equivalent of $100,000 and not less than the Dollar Equivalent of $300,000.
ii.Renewals. In the case of the renewal of a Term RFR Rate Purchase Option at the end of an Yield Period, the first day of the new Yield Period shall be the last day of the preceding Yield Period, without duplication in payment of interest for such day.
iii.No Conversion of Affected Currency Purchases. No Purchase denominated in the Affected Currency may be converted into a Purchase with a different Interest Rate Option, or a Purchase denominated in a different currency.
(h)Selection of Interest Rate Options. If the Seller fails to select a new Yield Period to apply to any Portion of Capital of Purchases in the Affected Currency under any Term RFR Rate Purchase Option at the expiration of an existing Yield Period applicable to such Portion of Capital in accordance with the provisions of Section 4(g) above, then, unless such Portion of Capital is repaid as provided herein, the Seller shall be deemed to have selected that such Portion of Capital shall automatically be continued under the applicable Term RFR Rate Purchase Option in its original Affected Currency with an Yield Period of one (1) month at the end of such Yield Period. If on and after the Term RFR Transition Date with respect to the Affected Currency, the Seller provides any Purchase Request related to a Purchase at the Term RFR Option for the Affected Currency, but fails to identify an Yield Period therefor, such Purchase Request shall be deemed to request an Yield Period of one (1) month. Any Purchase Request that fails to select an Interest Rate Option shall be deemed to be a request for the Base Rate. If no election as to currency is specified in the applicable Purchase Request, then the requested Purchases shall be made in Dollars.

(i)Computations of Dollar Equivalent Amounts of Purchases in Affected Currency. With respect to any amount of any Purchase denominated in the Affected Currency, the Administrator may determine the Dollar Equivalent utilizing Administrator’s standard practices (which determination shall be conclusive absent manifest error) with such frequency (including daily) that the Administrator deems to be necessary or advisable in its sole discretion. 
(j)Rate Unascertainable; Increased Costs; Deposits Not Available; Illegality.
(i)Unascertainable; Increased Costs; Deposits Not Available. If at any time:
(A)the Administrator shall have determined (which determination shall be conclusive and binding absent manifest error) that (x) the Daily Simple RFR or Term RFR applicable to a Purchase denominated in the Affected Currency cannot be determined pursuant to the definition thereof, including, without limitation, because such rate for the Affected Currency is not available or published on a current basis or (y) a fundamental change has occurred in the foreign exchange or interbank markets with respect to the Affected Currency or with respect to such rate (including, without limitation, changes in national or international financial, political or economic conditions or currency exchange rates or exchange controls), or

(B)the Administrator determines (which determination shall be conclusive and binding absent manifest error) that (x) prior to the Term RFR Transition Date with respect to any Purchases that bear interest based on a Daily Simple RFR denominated in the Affected Currency, the Daily Simple RFR with respect to the Affected Currency cannot be determined pursuant to the definition thereof or (y) on and after the Term RFR Transition Date with respect to any Purchases that bear interest based on a Term RFR denominated in the Affected Currency, the Term RFR for the Affected Currency cannot be determined pursuant to the definition thereof on or prior to the first day of any Yield Period, or
then the Administrator shall have the rights specified in Section 4(j)(iii) below.

(ii)Illegality. If at any time any Purchaser shall have determined, or any Governmental Authority shall have asserted, that the making, maintenance or funding of any Purchase denominated in the Affected Currency to which any Interest Rate Option applies, or the determination or charging of interest rates based upon any Interest Rate Option has been made impracticable or unlawful, by compliance by such Purchaser in good faith with any applicable law or any interpretation or application thereof by any Governmental Authority or with any request or directive of any such Governmental Authority (whether or not having the force of law), or any Governmental Authority has imposed material restrictions on the authority of such Purchaser to purchase, sell, or take deposits of the Affected Currency in the applicable interbank market for the Affected Currency,

then the Administrator shall have the rights specified in Section 4(j)(iii) of this Appendix A.

(iii) Administrator’s and Purchaser’s Rights. In the case of any event specified in Section 4(j)(i) above, the Administrator shall promptly so notify the Purchasers and the Seller thereof, and in the case of an event specified in Section 4(j)(ii) above, such Purchaser shall promptly so notify the Administrator and endorse a certificate to such notice as to the specific circumstances of such notice, and the Administrator shall promptly send copies of such notice and certificate to the other Purchasers and the Seller.
(A)Upon such date as shall be specified in such notice (which shall not be earlier than the date such notice is given), the obligation of (i) the Purchasers, in the case of such notice given by the Administrator, or (ii) such Purchaser, in the case of such notice given by such Purchaser, to allow the Seller to select, convert to or renew a Purchase under the affected Interest Rate Option in each the Affected Currency shall be suspended (to the extent of the affected Interest Rate Option, or the applicable Yield Periods) until the Administrator shall have later notified the Seller, or such Purchaser shall have later notified the Administrator, of the Administrator’s or such Purchaser’s, as the case may be, determination that the circumstances giving rise to such previous determination no longer exist.
(B)If at any time the Administrator makes a determination under Section 4(j)(i) above, (i) if the Seller has previously notified the Administrator of its selection of, conversion to or renewal of an affected Interest Rate Option, and such Interest Rate Option has not yet gone into effect, such notification shall with regard to any such pending request for Purchases denominated in the Affected Currency, be deemed ineffective (in each case, to the extent of the affected Interest Rate Option, or the applicable Yield Periods),
(ii) any outstanding affected Purchases denominated in Dollars shall be deemed to have been converted into Base Rate Purchases immediately or, in the case of Term RFR Rate Purchases, at the end of the applicable Yield Period, and (iii) any outstanding affected Purchases denominated in the Affected Currency shall, at the Seller’s election, either be converted into Base Rate Purchases denominated in Dollars (in an amount equal to the Dollar Equivalent of the Affected Currency) immediately or, in the case of Term RFR Rate Purchases, at the end of the applicable Yield Period or prepaid in full immediately or, in the case of Term RFR Rate Purchases, at the end of the applicable Yield Period; provided, however that absent notice from the Seller of conversion or prepayment, such Purchases shall automatically be converted to Base Rate Purchases (in an amount equal to the Dollar Equivalent of the Affected Currency).

(C)If any Purchaser notifies the Administrator of a determination under Section 4(j)(ii) above, the Seller shall, subject to the Seller’s indemnification Obligations under the Agreement, as to any Purchase of the Purchasers to which an affected Interest Rate Option applies, on the date specified in such notice either convert such Purchase to the Base Rate otherwise available with respect to such Purchase (which shall be, with respect to Purchases denominated in the Affected Currency, in an amount equal to the Dollar Equivalent of the Affected Currency) or prepay such Purchase in accordance with the Agreement. Absent due notice from the Seller of conversion or prepayment, such Purchase shall automatically be converted to the Base Rate otherwise available with respect to such Purchase (which shall be, with respect to Purchases denominated in the Affected Currency, in an amount equal to the Dollar Equivalent of the Affected Currency) upon such specified date.
(k)Benchmark Replacement Setting for Affected Currency. Notwithstanding anything to the contrary herein or in any other Transaction Document, if a Benchmark Transition Event has occurred prior to the Reference Time in respect of any setting of the then-current Benchmark for the Affected Currency, then such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Transaction Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Purchasers without any amendment to, or further action or consent of any other party to, the Agreement or any other Transaction Document so long as the Administrator has not received, by such time, written notice of objection to such Benchmark Replacement from Purchasers comprising the Majority Purchaser Agents Purchasers.
(l)Notices; Standards for Decisions and Determinations. The Administrator will promptly notify the Seller and the Purchasers of (A) any occurrence of a Benchmark Transition Event and its related Benchmark Replacement Date, (B) the implementation of any Benchmark Replacement, (C) the effectiveness of any Conforming Changes, (D) the removal or reinstatement of any tenor of a Benchmark pursuant to Section 4(m) below and (E) the commencement of any Benchmark Unavailability Period. Any determination, decision, or election that may be made by the Administrator or, if applicable, any Purchaser (or group of Purchasers) pursuant to this Section 4(l), including any determination with respect to a tenor, rate, or adjustment or of the occurrence or non-occurrence of an event, circumstance, or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to the Agreement or any other Transaction Document except, in each case, as expressly required pursuant to this Section 4(l).
(m)Unavailability of Tenor of Benchmark. Notwithstanding anything to the contrary herein or in any other Transaction Document, at any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate and either (A) any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrator in its reasonable discretion or (B) the regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark is or will no longer be representative, then the Administrator may modify the definition of “Yield Period” (or any similar or analogous definition) for any Benchmark settings at or after such time to remove such unavailable or non-representative tenor and (ii) if a tenor was removed pursuant to clause (i) above either (x) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (y) is not, or is no longer, subject to an announcement that it is or will no longer be representative for a Benchmark, then Administrator may modify the definition of “Yield Period” (or any similar or analogous definition) for all Benchmark settings at or after such time to reinstate such previously removed tenor.

(m)Term RFR Transition Event. Notwithstanding anything to the contrary in this Amendment, the Existing Agreement or in any other Transaction Document and subject to the proviso below in this paragraph, if a Term RFR Transition Date has occurred prior to the Reference Time in respect of any setting of the then-current Benchmark consisting of a Daily Simple RFR for the Affected Currency, then the applicable Term RFR, if any, will replace such Benchmark for all purposes hereunder or under any Transaction Document in respect of such Benchmark for the Affected Currency setting and subsequent Benchmark settings, without any amendment to, or further action or consent of any other party to, the Agreement or any other Transaction Document; provided that this clause (i) shall not be effective unless the Administrator has delivered to the Purchasers and the Seller a Term RFR Notice with respect to the applicable Term RFR Transition Event. For the avoidance of doubt, the Administrator shall not be required to deliver a Term RFR Notice after a Term RFR Transition Event and may elect or not elect to do so in its sole discretion.Exhibit 10.3

   

  

  Metro
      One Telecommunications, Inc.

      2021 STOCK INCENTIVE PLAN

   

  1. Purposes
        of the Plan. The purposes of this Stock Incentive Plan are to attract and retain the best available personnel for positions of substantial
      responsibility, to provide additional incentive to the Employees and Consultants of the Company and to promote the success of the Company’s
      business.

   

  Options
      granted hereunder may be either “incentive stock options,” as defined in Section 422 of the Internal Revenue Code of 1986,
      as amended, or “nonqualified stock options,” at the discretion of the Board and as reflected in the terms of the written
      option agreement. In addition, shares of the Company’s Common Stock may be Sold hereunder independent of any Option grant.

   

  2. Definitions.
      As used herein, the following definitions shall apply:

   

  (a) “Board”
      shall mean the Committee, if one has been appointed, or the Board of Directors of the Company, if no Committee is appointed.

   

  (b) “Code”
      shall mean the Internal Revenue Code of 1986, as amended.

   

  (c) “Committee”
      shall mean the Committee appointed by the Board of Directors in accordance with Section 4(a) of the Plan, if one is appointed.

   

  (d) “Common
        Stock” shall mean the Common Stock of the Company.

   

  (e) “Company”
      shall mean Metro One Telecommunications, Inc., a Delaware corporation.

   

  (f) “Consultant”
      shall mean any person who is engaged by the Company or any Subsidiary to render consulting services and is compensated for such consulting
      services and any director of the Company whether compensated for such services or not.

   

  (g) “Continuous
        Status as an Employee or Consultant” shall mean the absence of any interruption or termination of service as an Employee or
      Consultant. Continuous Status as an Employee or Consultant shall not be considered interrupted in the case of sick leave, military leave,
      or any other leave of absence approved by the Board; provided that such leave is for a period of not more than ninety days or reemployment
      upon the expiration of such leave is guaranteed by contract or statute.

   

  (h) “Employee”
      shall mean any person, including officers and directors, employed by the Company or any Parent or Subsidiary of the Company. The payment
      of a director’s fee by the Company shall not be sufficient to constitute “employment” by the Company.

   

  (i) “Exchange
        Act” shall mean the Securities Exchange Act of 1934, as amended.

   

  

  
  
    1

  

  
     

  

  
   

  (j) “Immediate
        Family” shall mean, with respect to a particular Optionee, the Optionee’s spouse, children and grandchildren and such
      other persons as the Board from time to time may determine, subject to such conditions as the Board may prescribe from time to time.

   

  (k) “Incentive
        Stock Option” shall mean an Option intended to qualify as an incentive stock option within the meaning of Section 422 of the
      Code.

   

  (l) “Nonqualified
        Stock Option” shall mean an Option not intended to qualify as an incentive stock option within the meaning of Section 422 of
      the Code.

   

  (m) “Option”
      shall mean a stock option granted pursuant to the Plan.

   

  (n) “Optioned
        Stock” shall mean the Common Stock subject to an Option.

   

  (o) “Optionee”
      shall mean an Employee or Consultant who receives an Option.

   

  (p) “Parent”
      shall mean a “parent corporation,” whether now or hereafter existing, as defined in Section 424 of the Code.

   

  (q) “Plan”
      shall mean this 2021 Stock Incentive Plan.

   

  (r) “Sale”
      or “Sold” shall include, with respect to the sale of Shares under the Plan, the sale of Shares for consideration in
      the form of cash or notes, as well as a grant of Shares without consideration, except past or future services.

   

  (s) “Share”
      shall mean a share of the Common Stock, as adjusted in accordance with Section 11 of the Plan.

   

  (t) “Subsidiary”
      shall mean a “subsidiary corporation,” whether now or hereafter existing, as defined in Section 424 of the Code.

   

  3. Stock
        Subject to the Plan. Subject to the provisions of Section 11 of the Plan, the maximum aggregate number of Shares which may be optioned
      and/or Sold under the Plan is 77,137,410. The Shares may be authorized, but unissued, or reacquired Common Stock.

   

  If
      an Option should expire or become unexercisable for any reason without having been exercised in full, the unpurchased Shares which were
      subject thereto shall, unless the Plan shall have been terminated, become available for future Option grants and/or Sales under the Plan.

   

  

  
  
    2

  

  
     

  

  
   

  4. Administration
        of the Plan.

   

  (a) Procedures.
      The Plan shall be administered by the Board of Directors of the Company.

   

  The
      Board of Directors may appoint a Committee consisting of not less than two (2) members of the Board of Directors to administer the Plan
      on behalf of the Board of Directors, subject to such terms and conditions as the Board of Directors may prescribe. Once appointed, the
      Committee shall continue to serve until otherwise directed by the Board of Directors. From time to time the Board of Directors may increase
      the size of the Committee and appoint additional members thereof, remove members (with or without cause) and appoint new members in substitution
      therefor, fill vacancies however caused, or remove all members of the Committee and thereafter directly administer the Plan.

   

  Members
      of the Board who are either eligible for Options and/or Sales or have been granted Options or Sold Shares may vote on any matters affecting
      the administration of the Plan or the grant of any Options or Sale of any Shares pursuant to the Plan, except that no such member shall
      act upon the granting of an Option or Sale of Shares to himself, but any such member may be counted in determining the existence of a
      quorum at any meeting of the Board during which action is taken with respect to the granting of Options or Sale of Shares to him.

   

  (b) Powers
        of the Board. Subject to the provisions of the Plan, the Board shall have the authority, in its discretion: (i) to grant Incentive
      Stock Options in accordance with Section 422 of the Code, or Nonqualified Stock Options; (ii) to authorize Sales of Shares of Common
      Stock hereunder; (iii) to determine, upon review of relevant information and in accordance with Section 8(b) of the Plan, the fair market
      value of the Common Stock; (iv) to determine the exercise/purchase price per Share of Options to be granted or Shares to be Sold, which
      exercise/purchase price shall be determined in accordance with Section 8(a) of the Plan; (v) to determine the Employees or Consultants
      to whom, and the time or times at which, Options shall be granted and the number of Shares to be represented by each Option; (vi) to
      determine the Employees or Consultants to whom, and the time or times at which, Shares shall be Sold and the number of Shares to be Sold;
      (vii) to interpret the Plan; (viii) to prescribe, amend and rescind rules and regulations relating to the Plan; (ix) to determine the
      terms and provisions of each Option granted (which need not be identical) and, with the consent of the holder thereof, modify or amend
      each Option; (x) to determine the terms and provisions of each Sale of Shares (which need not be identical) and, with the consent of
      the purchaser thereof, modify or amend each Sale; (xi) to accelerate or defer (with the consent of the Optionee) the exercise date of
      any Option; (xii) to accelerate or defer (with the consent of the Optionee or purchaser of Shares) the vesting restrictions applicable
      to Shares Sold under the Plan or pursuant to Options granted under the Plan; (xiii) to authorize any person to execute on behalf of the
      Company any instrument required to effectuate the grant of an Option or Sale of Shares previously granted or authorized by the Board;
      (xiv) to determine the restrictions on transfer, vesting restrictions, repurchase rights, or other restrictions applicable to Shares
      issued under the Plan; (xv) to effect, at any time and from time to time, with the consent of the affected Optionees, the cancellation
      of any or all outstanding Options under the Plan and to grant in substitution therefor new Options under the Plan covering the same or
      different numbers of Shares, but having an Option price per Share consistent with the provisions of Section 8 of this Plan as of the
      date of the new Option grant; (xvi) to establish, on a case-by-case basis, different terms and conditions pertaining to exercise or vesting
      rights upon termination of employment, whether at the time of an Option grant or Sale of Shares, or thereafter; and (xvii) to make all
      other determinations deemed necessary or advisable for the administration of the Plan.

   

  

  
  
    3

  

  
     

  

  
   

  (c) Effect
        of Board’s Decision. All decisions, determinations and interpretations of the Board shall be final and binding on all Optionees
      and any other holders of any Options granted under the Plan or Shares Sold under the Plan.

   

  5. Eligibility.

   

  (a) Persons
        Eligible. Options may be granted and/or Shares Sold only to Employees and Consultants. Incentive Stock Options may be granted only
      to Employees. An Employee or Consultant who has been granted an Option or Sold Shares may, if he is otherwise eligible, be granted an
      additional Option or Options or Sold additional Shares.

   

  (b) ISO
        Limitation. No Incentive Stock Option may be granted to an Employee which, when aggregated with all other Incentive Stock Options
      granted to such Employee by the Company or any Parent or Subsidiary, would result in Shares having an aggregate fair market value (determined
      for each Share as of the date of grant of the Option covering such Share) in excess of $100,000 becoming first available for purchase
      upon exercise of one or more Incentive Stock Options during any calendar year.

   

  (c) Section
        5(b) Limitations. Section 5(b) of the Plan shall apply only to an Incentive Stock Option evidenced by an “Incentive Stock Option
      Agreement” which sets forth the intention of the Company and the Optionee that such Option shall qualify as an Incentive Stock
      Option. Section 5(b) of the Plan shall not apply to any Option evidenced by a “Nonqualified Stock Option Agreement” which
      sets forth the intention of the Company and the Optionee that such Option shall be a Nonqualified Stock Option.

   

  (d) No
        Right to Continued Employment. The Plan shall not confer upon any Optionee any right with respect to continuation of employment or
      consulting relationship with the Company, nor shall it interfere in any way with his right or the Company’s right to terminate
      his employment or consulting relationship at any time.

   

  6. Term
        of Plan. The Plan shall become effective upon the earlier to occur of its adoption by the Board of Directors or its approval by the
      stockholders of the Company as described in Section 17 of the Plan. It shall continue in effect until ten (10) years after it becomes
      effective (as described above), unless sooner terminated under Section 13 of the Plan.

   

  7. Term
        of Option. The term of each Incentive Stock Option shall be ten (10) years from the date of grant thereof or such shorter term as
      may be provided in the Stock Option Agreement. The term of each Nonqualified Stock Option shall be ten (10) years and one (1) day from
      the date of grant thereof or such other term as may be provided in the Stock Option Agreement. However, in the case of an Option granted
      to an Optionee who, at the time the Option is granted, owns stock representing more than ten percent (10%) of the voting power of all
      classes of stock of the Company or any Parent or Subsidiary, (a) if the Option is an Incentive Stock Option, the term of the Option shall
      be five (5) years from the date of grant thereof or such shorter time as may be provided in the Stock Option Agreement, or (b) if the
      Option is a Nonqualified Stock Option, the term of the Option shall be five (5) years and one (1) day from the date of grant thereof
      or such other term as may be provided in the Stock Option Agreement.

   

  
  
    4

  

  
     

  

  
   

  

  8. Exercise/Purchase
        Price and Consideration.

   

  (a) Exercise/Purchase
        Price. The per-Share exercise/purchase price for the Shares to be issued pursuant to exercise of an Option or a Sale (other than
      a Sale which is a grant for which no purchase price is payable) shall be such price as is determined by the Board, but shall be subject
      to the following:

   

  (i) In
      the case of an Incentive Stock Option

   

  (A) granted
      to an Employee who, at the time of the grant of such Incentive Stock Option, owns stock representing more than ten percent (10%) of the
      voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price shall be no less than one
      hundred ten percent (110%) of the fair market value per Share on the date of the grant,

   

  (B) granted
      to any other Employee, the per Share exercise price shall be no less than one hundred percent (100%) of the fair market value per Share
      on the date of grant.

   

  (ii) In
      the case of a Nonqualified Stock Option or Sale

   

  (A) granted
      or Sold to a person who, at the time of the grant of such Option or authorization of such Sale, owns stock representing more than ten
      percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise/purchase
      price shall be no less than one hundred ten percent (110%) of the fair market value per Share on the date of the grant or authorization
      of Sale, unless otherwise expressly determined by the Board;

   

  (B) granted
      or Sold to any other person, the per Share exercise/purchase price shall be no less than eighty-five percent (85%) of the fair market
      value per Share on the date of grant or authorization of Sale, unless otherwise expressly determined by the Board.

   

  (C) Any
      determination to sell stock at less than fair market value on the date of the grant or authorization of Sale shall be accompanied by
      an express finding by the Board specifying that the sale is in the best interest of the Company, and specifying both the fair market
      value and the grant or sale price of the stock.

   

  (iii) In
      the case of an Option granted or Sale authorized on or after the effective date of registration of any class of equity security of the
      Company pursuant to Section 12 of the Exchange Act and prior to six (6) months after the termination of such registration, the per Share
      exercise/purchase price shall be no less than one hundred percent (100%) of the fair market value per Share on the date of grant or authorization
      of Sale.

   

  (b) Fair
        Market Value. The fair market value per Share shall be determined by the Board in its discretion; provided, however, that where there
      is a public market for the Common Stock, the fair market value per Share shall be the closing price of the Common Stock for the date
      of grant or authorization of Sale, as reported in The Wall Street Journal (or, if not so reported, as otherwise reported by the National
      Association of Securities Dealers Automated Quotation (NASDAQ) System) or, in the event the Common Stock is listed on a stock exchange,
      the fair market value per Share shall be the closing price on such exchange on the date of grant of the Option or authorization of Sale,
      as reported in The Wall Street Journal.

   

  

  
  
    5

  

  
     

  

  
   

  (c) Consideration.
      The consideration to be paid for the Shares to be issued upon exercise of an Option or pursuant to a Sale, including the method of payment,
      shall be determined by the Board and may consist in whole or part of:

   

  (i) cash;

   

  (ii) check;

   

  (iii) promissory
      note;

   

  (iv) transfer
      to the Company of Shares having a Fair Market Value at the time of such exercise equal to the Option exercise price; or

   

  (v) delivery
      of instructions to the Company to withhold from the Shares that would otherwise be issued on the exercise that number of Shares having
      a Fair Market Value at the time of such exercise equal to the Option exercise price.

   

  If
      the Fair Market Value of the number of whole Shares transferred or the number of whole Shares surrendered is less than the total exercise
      price of the Option, the shortfall must be made up in cash or by check.

   

  9. Exercise
        of Option.

   

  (a) Procedure
        for Exercise; Rights as a Stockholder. Any Option granted hereunder shall be exercisable at such times and under such conditions
      as determined by the Board, including performance criteria with respect to the Company and/or the Optionee, and as shall be permissible
      under the terms of the Plan.

   

  An
      Option may not be exercised for a fraction of a Share.

   

  An
      Option shall be deemed to be exercised when written notice of such exercise has been given to the Company in accordance with the terms
      of the Option by the person entitled to exercise the Option and full payment for the Shares with respect to which the Option is exercised
      has been received by the Company. Full payment may, as authorized by the Board, consist of any consideration and method of payment allowable
      under Section 8(c) of the Plan. Each Optionee who exercises an Option shall, upon notification of the amount due (if any) and prior to
      or concurrent with delivery of the certificate representing the Shares, pay to the Company amounts necessary to satisfy applicable federal,
      state and local tax withholding requirements. An Optionee must also provide a duly executed copy of any stock transfer agreement then
      in effect and determined to be applicable by the Board. Until the issuance (as evidenced by the appropriate entry on the books of the
      Company or of a duly authorized transfer agent of the Company) of the stock certificate evidencing such Shares, no right to vote or receive
      dividends or any other rights as a stockholder shall exist with respect to the Optioned Stock, notwithstanding the exercise of the Option.
      No adjustment will be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued,
      except as provided in Section 11 of the Plan.

   

  
  
    6

  

  
     

  

  
   

  

  Exercise
      of an Option in any manner shall result in a decrease in the number of Shares which thereafter may be available, both for purposes of
      the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised.

   

  (b) Termination
        of Status as an Employee or Consultant. If an Employee or Consultant ceases to serve as an Employee or Consultant (as the case may
      be), he may, but only within three (3) months (or such other period of time not exceeding the limitations of Section 7 above as is determined
      by the Board at the time of grant of an Option or thereafter) after the date he ceases to be an Employee or Consultant (as the case may
      be) of the Company, exercise his Option to the extent that he was entitled to exercise it at the date of such termination. To the extent
      that he was not entitled to exercise the Option at the date of such termination, or if he does not exercise such Option (which he was
      entitled to exercise) within the time specified herein, the Option shall terminate.

   

  (c) Disability
        of Optionee. Notwithstanding the provisions of Section 9(b) above, in the event an Employee or Consultant is unable to continue his
      employment or consulting relationship (as the case may be) with the Company as a result of his total and permanent disability (as defined
      in Section 22(e)(3) of the Code), he may, but only within twelve (12) months (or such other period of time not exceeding the limitations
      of Section 7 above as is determined by the Board at the time of grant of an Option or thereafter) from the date of termination, exercise
      his Option to the extent he was entitled to exercise it at the date of such termination. To the extent that he was not entitled to exercise
      the Option at the date of termination, or if he does not exercise such Option (which he was entitled to exercise) within the time specified
      herein, the Option shall terminate.

   

  (d) Death
        of Optionee. In the event of the death of an Optionee during the term of the Option who is at the time of his death an Employee or
      Consultant of the Company and who shall have been in Continuous Status as an Employee or Consultant since the date of grant of the Option,
      the Option may be exercised, at any time within twelve (12) months (or such other period of time not exceeding the limitations of Section
      7 above as is determined by the Board at the time of grant of an Option or thereafter) following the date of death, by the Optionee’s
      estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent of the right to
      exercise as of the date of death.

   

  10. Limits
        on Transfer of Options. An Option may not be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner other
      than by will, or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by the Optionee
      or, if incapacitated, by his or her legal guardian or legal representative. Notwithstanding the foregoing, the Board may, in its discretion,
      permit the transfer of any Nonqualified Stock Option to (i) members of the Optionee’s Immediate Family, (ii) a trust in which the
      Optionee and/or members of the Optionee’s Immediate Family have more than 50% of the beneficial interest, or (iii) any other entity
      in which only the Optionee and/or members of the Optionee’s Immediate Family own all of the voting interests; provided that an
      Option shall terminate immediately if it has been transferred to an entity (other than a trust) as permitted above and any person who
      is not a member of the Optionee’s Immediate Family becomes the owner of a voting interest in such entity. Upon such a transfer,
      such Option shall continue to be subject to the same terms and conditions as were applicable immediately prior to such transfer, including
      Section 9 as it applies to the Optionee ceasing to serve as an Employee or Consultant or to the death of disability of the Optionee,
      but for all other purposes of this Plan, the members of the Optionee’s Immediate Family, trustee or other entity will be entitled
      to all the rights of the Optionee with respect to the transferred Option and the term “Optionee” shall be deemed to refer
      to the transferee. Any such transfer shall be (i) permitted only if the Optionee does not receive any consideration therefor and the
      transfer is expressly approved by the Board, and (ii) shall be evidenced by an appropriate written document executed by the Optionee
      in a form satisfactory to the Company and a copy thereof shall be delivered to the Company on or prior to the effective date of the transfer.

   

  
  
    7

  

  
     

  

  
   

  

  11. Adjustments
        Upon Changes in Capitalization or Merger. Subject to any required action by the stockholders of the Company, the number of shares
      of Common Stock covered by each outstanding Option and the number of shares of Common Stock which have been authorized for issuance under
      the Plan but as to which no Options have yet been granted or Sales made or which have been returned to the Plan upon cancellation or
      expiration of an Option, as well as the price per share of Common Stock covered by each such outstanding Option, shall be proportionately
      adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from a stock split, reverse stock split,
      stock dividend, combination or reclassification of the Common Stock, or any other increase or decrease in the number of issued shares
      of Common Stock effected without receipt of consideration by the Company; provided, however, that conversion of any convertible securities
      of the Company shall not be deemed to have been “effected without receipt of consideration.” Such adjustment shall be made
      by the Board, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided herein, no issuance
      by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment
      by reason thereof shall be made with respect to, the number or price of shares of Common Stock subject to an Option.

   

  In
      the event of the proposed dissolution or liquidation of the Company, the Option will terminate immediately prior to the consummation
      of such proposed action, unless otherwise provided by the Board. The Board may, in the exercise of its sole discretion in such instances,
      declare that any Option shall terminate as of a date fixed by the Board and give each Optionee the right to exercise his Option as to
      all or any part of the Optioned Stock, including Shares as to which the Option would not otherwise be exercisable. In the event of a
      proposed sale of all or substantially all of the assets of the Company, or the merger of the Company with or into another corporation,
      the Option shall be assumed or an equivalent option shall be substituted by such successor corporation or a parent or subsidiary of such
      successor corporation, unless the Board determines, in the exercise of its sole discretion and in lieu of such assumption or substitution,
      that the Optionee shall have the right to exercise the Option as to all of the Optioned Stock, including Shares as to which the Option
      would not otherwise be exercisable. If the Board makes an Option fully exercisable in lieu of assumption or substitution in the event
      of a merger or sale of assets, the Board shall notify the Optionee that the Option shall be fully exercisable for a period of thirty
      (30) days from the date of such notice or such shorter period as the Board may specify in the notice, and the Option will terminate upon
      the expiration of such period.

   

  12. Time
        of Granting Options. The date of grant of an Option shall, for all purposes, be the date on which the Board makes the determination
      granting such Option. Notice of the determination shall be given to each Employee or Consultant to whom an Option is so granted within
      a reasonable time after the date of such grant.

   

  13. Amendment
        and Termination of the Plan.

   

  (a) Amendment
        and Termination. The Board may amend or terminate the Plan from time to time in such respects as the Board may deem advisable; provided,
      however, that if required to qualify the Plan under Rule 16b-3 promulgated under Section 16 of the Exchange Act, as amended, no amendment
      shall be made more than once every six months that would change the amount, price or timing of the option grants, other than to comport
      with changes in the Code, as amended, or the rules and regulations promulgated thereunder; and provided, further, that, if required to
      qualify the Plan under Rule 16b-3, no amendment shall be made without the approval of the stockholders of the Company in the manner described
      in Section 17 of the Plan if the amendment would:

   

  (i) increase
      the number of Shares subject to the Plan, other than in connection with an adjustment under Section 11 of the Plan;

   

  

  
  
    8

  

  
     

  

  
   

  (ii) make
      a change in the designation of the class of Employees or Consultants eligible to be granted Options; or

   

  (iii) if
      the Company has a class of equity security registered under Section 12 of the Exchange Act at the time of such revision or amendment,
      cause any material increase in the benefits accruing to participants under the Plan.

   

  (b) Stockholder
        Approval. If any amendment requiring stockholder approval under Section 13(a) of the Plan is made subsequent to the first registration
      of any class of equity security by the Company under Section 12 of the Exchange Act, such stockholder approval shall be solicited as
      described in Section 17 of the Plan.

   

  (c) Effect
        of Amendment or Termination. Any such amendment or termination of the Plan shall not affect Options already granted, and such Options
      shall remain in full force and effect as if this Plan had not been amended or terminated, unless mutually agreed otherwise between the
      Optionee and the Board, which agreement must be in writing and signed by the Optionee and the Company.

   

  14. Conditions
        Upon Issuance of Shares. Shares shall not be issued pursuant to the exercise of an Option or a Sale unless the exercise of such Option
      or consummation of the Sale and the issuance and delivery of such Shares pursuant thereto shall comply with all relevant provisions of
      law, including, without limitation, the Securities Act of 1933, as amended, applicable state securities laws, the Exchange Act, the rules
      and regulations promulgated thereunder, and the requirements of any stock exchange (including NASDAQ) upon which the Shares may then
      be listed, and shall be further subject to the approval of counsel for the Company with respect to such compliance.

   

  As
      a condition to the exercise of an Option or a Sale, the Company may require the person exercising such Option or to whom Shares are being
      Sold to represent and warrant at the time of any such exercise or Sale that the Shares are being purchased only for investment and without
      any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required
      by any of the aforementioned relevant provisions of law.

   

  15. Reservation
        of Shares. The Company, during the term of this Plan, will at all times reserve and keep available such number of Shares as shall
      be sufficient to satisfy the requirements of the Plan.

   

  Inability
      of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel
      to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the
      failure to issue or sell such Shares as to which such requisite authority shall not have been obtained.

   

  16. Option
        Agreement. Options shall be evidenced by written option agreements in such form as the Board shall approve.

   

  

  
  
    9

  

  
     

  

  
   

  17. Stockholder
        Approval. Continuance of the Plan shall be subject to approval by the stockholders of the Company within twelve months before or
      after the date the Plan is adopted. If such stockholder approval is obtained at a duly held stockholders’ meeting, it may be obtained
      by the affirmative vote of the holders of a majority of the outstanding shares of the Company, such holders being present or represented
      and entitled to vote thereon. If and in the event that the Company registers any class of any equity security pursuant to Section 12
      of the Exchange Act, the approval of such stockholders of the Company shall be:

   

  (a) Solicitation.

   

  (i) solicited
      substantially in accordance with Section 14(a) of the Exchange Act and the rules and regulations promulgated thereunder, or

   

  (ii) solicited
      after the Company has furnished in writing to the holders entitled to vote substantially the same information concerning the Plan as
      that which would be required by the rules and regulations in effect under Section 14(a) of the Exchange Act at the time such information
      is furnished; and

   

  (b) Time.
      Obtained at or prior to the first annual meeting of stockholders held subsequent to the first registration of any class of equity securities
      of the Company under Section 12 of the Exchange Act.

   

  If
      such stockholder approval is obtained by written consent, it must be obtained by the written consent of stockholders of the Company in
      compliance with the requirements of applicable state law.

   

  

  
  
    10

  

  
     

  

  
   

  18. Section
        409A. The Company intends that all Options granted and/or Shares Sold be structured to comply with, or be exempt from, Code Section
      409A, such that no adverse tax consequences, interest, or penalties under Code Section 409A apply. Notwithstanding anything in this Plan
      or any applicable option agreement to the contrary, the Board may, without an Employee or Consultant’s consent, amend this Plan
      or applicable option agreement, adopt policies and procedures, or take any other actions (including retroactive actions) as are necessary
      or appropriate to preserve the intended tax treatment of Options granted and/or Shares Sold.

   

  19. Severability.
      If any provision of this Plan or any applicable option agreement is or becomes or is deemed to be invalid, illegal, or unenforceable
      or would disqualify the Plan or any applicable option agreement under applicable law, such provision will be (i) construed or deemed
      amended to conform to applicable law or (b) if it cannot be construed or deemed amended without materially altering the Plan or any applicable
      option agreement, such provision will be stricken, and the remainder of the Plan or any applicable option agreement shall remain in full
      force and effect.

   

  
  
    11

  

  
     

  

  
   

  

  ISRAELI APPENDIX

  

  TO
        THE

  

  Metro
        One Telecommunications, Inc.

        2021 STOCK INCENTIVE PLAN 

   

   1. Special Provisions for Persons who are Israeli Taxpayers.

   

  1.1 This
      Israeli Appendix (the “Appendix”)
        to the Metro One Telecommunications, Inc. 2021 Stock Incentive Plan, as amended from time to time (the “Plan”)
        is made and entered effective as of September 10, 2021 (the “Appendix Effective Date”).
        The provisions specified hereunder shall form an integral part of the Plan. 

   

  1.2 The
      provisions set forth in this Appendix apply only to Optionees who are subject to taxation by the State of Israel with respect to Options
      granted thereto (each, an “Israeli Optionee”).

   

  1.3 This
      Appendix applies with respect to Options granted under the Plan as aforesaid. The purpose of this Appendix is to establish certain rules
      and limitations applicable to Options that may be granted under the Plan to Israeli Optionees from time to time, in compliance with the
      securities and other applicable laws currently in force in the State of Israel. All grants made pursuant to this Appendix shall be governed
      by the terms of the Plan and the terms of this Appendix. This Appendix is applicable only to grants made after the Appendix Effective
      Date. This Appendix is subject to the ITO (as defined below) and Section 102 (as defined below) in particular.

   

  1.4 The
      Plan and this Appendix shall be read together with respect to Israeli Optionees. In the event of a conflict between this Appendix and
      the Plan, this Appendix shall take precedence with respect to provisions relating to Section 102.

   

   2. Definitions.

   

  Capitalized
      terms not otherwise defined herein shall have the meaning assigned to them in the Plan. The following additional definitions will apply
      to grants made pursuant to this Appendix:

   

  “102
        Capital Gains Track” means the tax track set forth in Section 102(b)(2) or Section 102(b)(3) of the ITO, as the case may be.

   

  “102
        Capital Gains Track Grant” means a 102 Trustee Grant elected and designated to qualify for the special tax treatment under
      the 102 Capital Gains Track.

   

  “102
        Earned Income Track” means the tax track set forth in Section 102(b)(1) of the ITO.

   

  “102
        Earned Income Track Grant” means a 102 Trustee Grant elected and designated to qualify for the ordinary income tax treatment
      under the 102 Earned Income Track.

   

  “102
        Trustee Grant” means an Option granted pursuant to Section 102(b) of the ITO and held in trust by a Trustee for the benefit
      of the Eligible 102 Optionee, and includes 102 Capital Gains Track Grants and 102 Earned Income Track Grants, if and as applicable.

   

  “Affiliated
        Company” means any Israeli resident legal entity that qualifies as both (i) a Subsidiary, and (ii) an “employing company”
      within the meaning of Section 102(a) of the ITO.

   

  “Controlling
        Shareholder” means a “controlling shareholder”, as defined under Section 32(9) of the ITO, of the Company.

   

  

  
  
    12

  

  
     

  

  
   

  “Election”
      means the Company’s election of the type (i.e., between 102 Capital Gains Track or 102 Earned Income Track) of 102 Trustee Grants
      that it will make under the Plan, as filed with the ITA.

   

  “Eligible
        102 Optionee” means an Israeli Optionee who is an individual employed by a Subsidiary that qualifies as an Affiliated Company
      or is a Non-Employee Director, and such individual is not a Controlling Shareholder.

   

  “Fair
        Market Value” means, without derogating from the definition in the Plan of the term of “Fair Market Value” and
      solely for the purpose of determining the tax liability pursuant to Section 102(b)(3) of the Ordinance, as follows: if at the date of
      grant the Company’s shares are listed on any established stock exchange or a national market system or if the Company’s shares
      will be registered for trading within ninety (90) days following the date of grant, the Fair Market Value of a Share on the date of grant
      shall be determined in accordance with the average value of the Company’s shares on the thirty (30) trading days preceding the
      date of grant or on the thirty (30) trading days following the date of registration for trading, as the case may be.

   

  “ITA”
      means the Israeli Tax Authority.

   

  “ITO”
      or the “Ordinance” means the Israeli Income Tax Ordinance (New Version), 5721-1961 and the rules, regulations, orders
      or procedures promulgated thereunder and any amendments thereto, including specifically the ITO Rules, all as may be amended from time
      to time.

   

  “ITO
        Rules” means the Income Tax Rules (Tax Benefits in Share Issuance to Employees), 5763-2003.

   

  “Non-Trustee
        Grant” means an Option granted to an Eligible 102 Optionee pursuant to Section 102(c) of the ITO.

   

  “Option”
      means the right to purchase shares of Common Stock of the Company granted to an Israeli Optionee.

   

  “Required
        Holding Period” means the requisite period prescribed by Section 102 and the ITO Rules, or such other period as may be required
      by the ITA, with respect to 102 Trustee Grants, during which an Option granted by the Company and the share of Common Stock of the Company
      (“Shares”) issued or delivered upon the exercise or vesting or settlement (as the case may be) of such Option must
      be held by the Trustee for the benefit of the person to whom it was granted. As of the Appendix Effective Date, the Required Holding
      Period for 102 Capital Gains Track Grants is 24 months from the date the Option is granted and deposited with the Trustee, provided that
      all the conditions set forth in Section 102 and the related regulations have been fulfilled.

   

  “Section
        102” means the provisions of Section 102 of the ITO, as amended from time to time.

   

  “Trustee”
      means a person or entity designated by the Board or the Compensation Committee to serve as a trustee and/or supervising trustee and approved
      by the ITA in accordance with the provisions of Section 102(a) of the ITO.

   

  “Trust
        Agreement” means the agreement(s) between the Company and/or an Affiliated Company and the Trustee, regarding Options granted
      under this Appendix, as in effect from time to time.

   

  
  
    13

  

  
     

  

  
   

  

   3. Types of Grants and Section 102 Election.

   

  3.1 Grants
      of Options made pursuant to Section 102, shall be made pursuant to either (a) Section 102(b)(2) or Section 102(b)(3) of the ITO, as the
      case may be, as 102 Capital Gains Track Grants, or (b) Section 102(b)(1) of the ITO as 102 Earned Income Track Grants. The Company’s
      Election regarding the type of 102 Trustee Grant it elects to make shall be filed with the ITA before any grant is made pursuant to such
      Election in accordance with Section 102 and shall also be applicable to any stock dividend and/or additional rights that are granted
      with respect to an Option which was granted as a 102 Trustee Grant. Once the Company has filed such Election, it may change the type
      of 102 Trustee Grant that it elects to make only in accordance with the provisions of Section 102(g) of the ITO (i.e., after the lapse
      of at least 12 months from the end of the calendar year in which the first grant was made pursuant to the previous Election). For the
      avoidance of doubt, such Election shall not prevent the Company from granting Non-Trustee Grants to Eligible 102 Optionees at any time.

   

  3.2 Eligible
      102 Optionees may receive only 102 Trustee Grants or Non-Trustee Grants under this Appendix.

   

  3.3 No
      102 Trustee Grants may be made effective pursuant to this Appendix until 30 days after the requisite filings required by the ITO and
      the ITO Rules have been filed with the ITA; provided, however, that if the ITA provides approval for such - 102 Trustee Grants may be
      made effective prior to the lapse of the aforementioned 30 day period.

   

  3.4 The
      Evidence of Option or other documents evidencing an Option granted or Shares issued or delivered pursuant to the Plan and this Appendix
      shall indicate whether the grant is a 102 Trustee Grant or a Non-Trustee Grant; and, if the grant is a 102 Trustee Grant, the Evidence
      of Option shall indicate, among other matters, whether it is a 102 Capital Gains Track Grant or a 102 Earned Income Track Grant, the
      vesting provisions, the settlement provisions and the exercise price (if any and as applicable). For the avoidance of doubt, each Eligible
      102 Optionee granted a 102 Trustee Grant, shall be required to sign and deliver to the Trustee a consent letter (whether as part of the
      Evidence of Option or as a stand-alone consent, as the case may be) which includes several statements under which the Israeli Optionee,
      among others, (i) agrees to be subject to the Trust Agreement and agrees that the Trustee be released from any liability in respect of
      any action or decision duly taken and bona fide executed by it with respect to the Plan, this Appendix and/or any 102 Trustee Grants;
      (ii) declares that he/she understands and accepts the provisions of Section 102 and the applicable tax track and approves the tax arrangement
      contemplated thereby; and (iii) confirms that he/she shall neither sell nor transfer the Shares or any other right attributed thereto
      until the lapse of the Required Holding Period.

   

   4. Terms And Conditions of 102 Trustee Grants.

   

  4.1 Each
      102 Trustee Grant will be deemed granted on the date of, or the date stated in, the applicable Board or Committee resolution (as applicable),
      in accordance with the provisions of Section 102 and the Trust Agreement.

   

  4.2 Each
      102 Trustee Grant, and any stock dividend and/or additional rights that are granted with respect to an Option which was granted as a
      102 Trustee Grant, granted to an Eligible 102 Optionee shall be held by the Trustee and each Share acquired pursuant to a 102 Trustee
      Grant shall be deposited in a trust account in the name of a Trustee and shall be held in trust for the benefit of the Eligible 102 Optionee
      for the Required Holding Period. After the lapse of the Required Holding Period, the Trustee may release such Option and any such Shares,
      provided that (i) the Trustee has received an acknowledgment from the ITA that the Eligible 102 Optionee has paid any applicable tax
      due pursuant to the ITO; or (ii) the Trustee and/or the Company and/or the applicable Affiliated Company withhold any applicable tax
      due pursuant to the ITO. The Trustee shall not release any Option which is granted pursuant to a 102 Trustee Grant, or Shares issued
      thereunder and held by it, prior to the full payment of the Eligible 102 Optionee’s tax liabilities.

   

  

  
  
    14

  

  
     

  

  
   

  4.3 Each
      102 Trustee Grant (whether a 102 Capital Gains Track Grant or a 102 Earned Income Track Grant, as applicable), and any stock dividend
      and/or additional rights that are granted with respect to an Option which was granted as a 102 Trustee Grant, shall be subject to the
      relevant terms of Section 102 and the ITO, which shall be deemed an integral part of the 102 Trustee Grant and shall prevail over any
      term contained in the Plan, this Appendix or any Evidence of Option that is not consistent therewith. Any provision of the ITO and any
      approvals by the ITA not expressly specified in this Appendix or any document evidencing a grant that are necessary to receive or maintain
      any tax benefit pursuant to Section 102, shall be binding on the Eligible 102 Optionee. The Trustee and each Eligible 102 Optionee who
      is granted a 102 Trustee Grant shall comply with the ITO and the terms and conditions of the Trust Agreement entered into between the
      Company and/or an applicable Affiliated Company and the Trustee. For avoidance of doubt, it is reiterated that compliance with the ITO
      specifically includes compliance with the ITO Rules. Further, the Eligible 102 Optionee agrees to execute any and all documents which
      the Company, the applicable Affiliated Company or the Trustee may reasonably determine to be necessary in order to comply with the provision
      of any applicable law, and, particularly, Section 102.

   

  4.4 During
      the Required Holding Period, the Eligible 102 Optionee shall not require the Trustee to release or sell the Option or the underlying
      Shares and other shares received subsequently following any realization of rights derived from Option or Shares (including stock dividends)
      to the Eligible 102 Optionee or to a third party. Notwithstanding the foregoing, the Trustee may, pursuant to a written request and subject
      to applicable law, release and transfer such Shares provided that both of the following conditions have been fulfilled prior to such
      transfer: (i) all taxes required to be paid upon the release and transfer of the Shares have been withheld for transfer to the ITA; and
      (ii) the Trustee has received written confirmation from the Company and the applicable Affiliated Company that all requirements for such
      release and transfer have been fulfilled according to the terms of the Company’s corporate documents, the Plan, this Appendix,
      any applicable agreement and any applicable law. To avoid doubt, such sale or release during the Required Holding Period will result
      in different tax ramifications to the Eligible 102 Optionee under Section 102 of the ITO and the ITO Rules and/or any other regulations
      or orders or procedures promulgated thereunder, which shall apply to and shall be borne solely by such Eligible 102 Optionee.

   

  4.5 In
      the event a stock dividend is declared and/or additional rights are granted with respect to Shares which were issued upon an exercise
      or vesting and settlement of an Option which was granted as a 102 Trustee Grant, such stock dividend and/or rights shall also be subject
      to the provisions of this Section 4 and the Required Holding Period for such stock dividend and/or rights shall be measured from the
      commencement of the Required Holding Period for the Option with respect to which the stock dividend was declared and/or rights granted.
      In the event of a cash dividend which applies to an Option or Shares, the Trustee and/or the Company and/or the Affiliated Companies
      shall deduct all taxes and mandatory payments from the dividend proceeds in compliance with applicable withholding requirements before
      transferring the dividend proceeds to the Eligible 102 Optionee.

   

  4.6 If
      an Option which is granted as a 102 Trustee Grant is exercised or vests and settled (as the case may be) during the Required Holding
      Period, the Shares issued or delivered upon such exercise or vesting and settlement, if and as applicable, shall be issued or delivered,
      as applicable, in the name of the Trustee (to the extent applicable) for the benefit of the Eligible 102 Optionee. If such Shares are
      issued or delivered, as applicable, after the Required Holding Period has lapsed, the Shares issued or delivered, as applicable, upon
      such exercise or vesting and settlement shall, at the election of the Eligible 102 Optionee, either (i) be issued or delivered, as applicable,
      in the name of the Trustee (if applicable), or (ii) be transferred to the Eligible 102 Optionee directly, provided that the Eligible
      102 Optionee first complies with all applicable provisions of the Plan, this Appendix and Section 102, and the Eligible 102 Optionee
      pays all taxes which apply on the Shares or to such transfer of Shares.

   

  

  
  
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  4.7 To
      avoid doubt, in the event that an Option granted to Eligible 102 Optionee pursuant to the Plan and this Appendix, is settled for cash,
      such Option most likely will not be qualified as a 102 Trustee Grant. It is also clarified that various amendments to the Plan or to
      the terms of an Option that has already been granted, as well as the performance of some of the procedures stipulated in the Plan or
      the resolution of the Board/Committee to condition an Option with various terms and conditions may be subject to obtaining the prior-approval
      (ruling) of the ITA as a condition to having the 102 Capital Gains Track Grants continue to be subject to the 102 Capital Gains Track,
      including, without limitation, any process of (i) acceleration of vesting that has not been originally stipulated in the Option Agreement,
      (ii) cashless/net exercise/delivery to the Company of Shares, settlement and payment of the Consideration by promissory note, and (iii)
      reduction of the exercise price or any other adjustments to the Option price or exercise or purchase price of any Option, whether pursuant
      to a distribution of dividend or changes in the Company’s capital structure.

   

  Notwithstanding
      anything to the contrary in the Plan or this Appendix, it is hereby clarified that no “put” or “call” option
      provisions are deemed included in the Plan or this Appendix with respect to Options which are intended to qualify as 102 Trustee Grants
      without first obtaining the prior approval from the ITA.

   

  4.8 Upon
      receipt of a 102 Trustee Grant, the Eligible 102 Optionee will sign an undertaking to release the Trustee, the Company and the Affiliated
      Companies from any liability in respect of any action or decision duly taken and bona fide executed in relation with this Appendix, or
      any 102 Trustee Grant Share granted to the Eligible 102 Optionee thereunder.

   

   5. Exercise Of Options.

   

  Options
      shall be exercised by the Eligible 102 Optionee by giving written notice to the Company and/or to any third party designated by the Company
      (the “Representative”), in such form and method as may be determined by the Company (and subject to the terms stipulated
      in the Plan and/or in such form) and, when applicable, by the Trustee, in accordance with the requirements of Section 102, which exercise
      shall be effective – except if otherwise set forth in the said form of notice - upon receipt of such notice by the Company and/or
      the Representative and the payment of the exercise price (if any) for the number of Shares with respect to which the Option is being
      exercised, at the Company’s or the Representative’s principal office. The notice shall specify the number of Shares with
      respect to which the Option is being exercised. Options that are not required to be exercised, but rather become payable in accordance
      with the terms and conditions of the Option shall be settled in cash (without, for the removal of a doubt, derogating from the provisions
      of Sections 4.7 and 7 hereof), Shares, or a combination thereof, as determined by the Company.

   

   6. Assignability.

   

  As
      long as an Option or Shares are held by the Trustee on behalf of the Eligible 102 Optionee, none of the rights of the Eligible 102 Optionee
      over the Option or the Shares nor any rights attributed thereto or derived therefrom may be (i) sold, assigned, pledged, given as collateral
      or mortgaged or otherwise transferred, other than by will or by operation of law, (ii) subject of an attachment, power of attorney, a
      proxy or a share transfer deed (other than a power of attorney or a proxy or a voting agreement with respect to the Shares which was
      pre-approved by the Company) unless Section 102 and/or any tax ruling issued by the ITA with respect to 102 Trustee Grants allow otherwise.
      During the lifetime of the Eligible 102 Optionee, each and all of such Eligible 102 Optionee’s rights to purchase, or be delivered
      with, Shares under the Plan and this Appendix shall be exercisable by, or be delivered for the benefit of, the Eligible 102 Optionee
      only. Any such action made directly or indirectly, for an immediate validation or for a future one, shall be void.

   

  
  
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   7. Tax Consequences.

   

  7.1 Any
      tax consequences arising from the grant or exercise or vesting or settlement of any Option, from the payment for Shares covered thereby,
      or from any other event or act (of the Company or any applicable Affiliated Company, the Trustee or the Israeli Optionee), hereunder,
      shall be borne solely by the Israeli Optionee. The Company and/or its Affiliated Companies and/or the Trustee shall be entitled to withhold
      taxes according to the requirements under the applicable laws, rules, and regulations, including withholding taxes at source. Furthermore,
      the Israeli Optionee shall agree to indemnify the Company and/or its Affiliated Companies and/or the Trustee and hold them harmless against
      and from any and all liability for any such tax or interest or penalty thereon, including without limitation, liabilities relating to
      (i) the necessity to withhold, or to have withheld, any such tax from any payment made to the Israeli Optionee, (ii) any taxes that should
      have been paid by the Israeli Optionee in connection with the transfer of the Options from the Trustee to a designated transferee, whether
      or not a payment was deemed to be made as part of such transfer, and (iii) any taxes that the Israeli Optionee should have paid upon
      the exercise of the Options into Shares or settlement of Options for Shares, if and as applicable. The Company and/or any of its Affiliated
      Companies and/or the Trustee may make such provisions and take such steps as it may deem necessary or appropriate for the withholding
      of all taxes required by law to be withheld with respect to an Option granted under the Plan and this Appendix and the exercise or vesting
      or sale or settlement thereof, including, but not limited, to (i) deducting the amount
      so required to be withheld from any other amount then or thereafter payable to an Israeli Optionee, and/or (ii) requiring an Israeli
      Optionee to pay to the Company any of its Affiliated Companies the amount so required to be withheld as a condition of the issuance,
      delivery, distribution or release of any Shares, and/or (iii) by causing the exercise or settlement of an Option and/or the sale of Shares
      held by or on behalf of an Israeli Optionee to cover such liability, up to the amount required to satisfy minimum statutory withholding
      requirements. In addition, the Israeli Optionee will be required to pay any tax liability which exceeds the tax to be withheld and remitted
      to the tax authorities, pursuant to applicable tax laws, regulations and rules. It is hereby further clarified that nothing in the potential
      adverse tax consequences to the Israeli Optionees shall be deemed as restricting the Company from taking any action that it would have
      otherwise be eligible to perform, including any of the actions delineated in Section 4.7 above, and, without limiting the generality
      of the foregoing, the Company and/or Affiliated Companies make no assurances, promises, undertakings or otherwise assumes any obligation
      that any of them will seek the approval (whether prior or post factum) of the ITA with respect to any action taken, or contemplated to
      be taken, by the Company, including any of the actions delineated in Section 4.7 above (but subject to the obtainment of prior approval
      of the ITA in the case of placing “put” and “call” option provisions in the Plan or the Appendix with respect
      to 102 Capital Gains Track Grants) and will not, in any case, be restricted in any way from taking such action without the approval of
      the ITA, and such shall not derogate in any manner from the liability of each Israeli Optionee to bear (solely on such Israeli Optionee’s
      own) any tax consequences arising from, or related to, the grant or exercise or vesting or settlement of
      any Option granted to such person. To the extent an Israeli Optionee is or becomes subject to taxation in the United States, any Option
      granted hereunder is intended to be either exempt from or in compliance with the requirements of Section 409A of the Internal Revenue
      Code of 1986, as amended (the “Code” and “Code Section 409A”, respectively), and any regulations
      or guidance that may be adopted thereunder, and if an Israeli Optionee is a “specified employee” as defined in Code Section
      409A at the time of the Optionee’s separation from service with the Company, then solely to the extent necessary to avoid the imposition
      of any additional tax under Code Section 409A, the commencement of any payments or benefits under an Option shall be deferred until the
      date that is six months following the Optionee’s separation from service or such other period as required to comply with Code Section
      409A. This provision shall not derogate in any manner from any of the other requirements hereunder and the Optionee shall be responsible
      for any tax consequences in the United States.

   

  7.2 With
      respect to Non-Trustee Grants, if the Eligible 102 Optionee ceases to be employed by any Affiliated Company, the Eligible 102 Optionee
      shall extend to the relevant Affiliated Company a security or guarantee for the payment of tax due at the time of sale of Shares to the
      satisfaction of the Company, all in accordance with the provisions of Section 102 of the ITO and the ITO Rules.

   

  
  
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   8. Governing Law and Jurisdiction.

   

  This
      Appendix and all Options granted hereunder are governed by the laws of Delaware without regards to conflicts of laws; provided, however,
      that all aspects of an Option which relate to Section 102 of the ITO, the rules and regulations promulgated thereunder, the Appendix
      and/or the Trust Agreement, shall be governed by and interpreted in accordance with the laws of the State of Israel and Section 102,
      in particular, with respect to Options granted pursuant to Section 102 to Eligible 102 Optionees, without regards to conflicts of laws.
      All Options and Shares which are governed by the provisions of this Appendix shall be subject to the laws and requirements of the State
      of Israel and the terms and conditions on which any such Option is granted are deemed modified to the extent necessary or advisable to
      comply with the applicable Israeli laws. It is hereby clarified that any ruling provided by the ITA with respect to Israeli Optionees
      and is required in order for the 102 Capital Gains Track Grants to continue to be subject to the 102 Capital Gains Track will be, upon
      the resolution of the Board/Compensation Committee, deemed incorporated into this Appendix such that the Board/ Committee will be able
      to act in accordance with such ruling.

   

   9. Securities Laws.

   

  Without
      derogation from any provisions of the Plan, all Options which are governed by the provisions of this Appendix shall also be subject to
      compliance with the Israeli Securities Law, 1968, and the rules and regulations promulgated thereunder.

   

  

  
  
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