Document:

Exhibit
10.4

 

CONSULTING
AGREEMENT

 

THIS
AGREEMENT (the “Agreement”), dated as of December [ ], 2020, is made by and between Enveric Biosciences, Inc.
(f/k/a Ameri Holdings, Inc.), a corporation incorporated under the laws of the State of Delaware (the “Company”)
and Barry Kostiner (the “Consultant”).

 

W
I T N E S S E T H:

 

WHEREAS,
Jay Pharma Inc. (“Jay Pharma”), the Company, Jay Pharma Merger Sub, Inc., a wholly owned subsidiary of Ameri, 1236567
B.C. Unlimited Liability Company and Barry Kostiner have entered into a Tender Offer Support Agreement and Termination of Amalgamation
Agreement, dated as of August 12, 2020, as amended, pursuant to which, among other things, the Company made a tender offer to
purchase all of the outstanding common shares of Jay Pharma (the “Tender Offer”); and

 

WHEREAS,
the Company desires to retain the Consultant and the Consultant desires to be retained by the Company pursuant to the terms and
conditions hereinafter set forth.

 

NOW,
THEREFORE, in consideration of the foregoing and the mutual promises and covenants herein contained, it is hereby agreed as follows:

 

Section
1. Retention.

 

(a)
The Company hereby retains the Consultant on a non-exclusive basis to render consulting services described herein, effective as
of the closing of the Tender Offer and for a period expiring on the twelve month anniversary of the date hereof (the “Term”),
and the Consultant hereby agrees to provide such services during the Term to the Company faithfully and to the best of his ability.

 

(b)
The Consultant shall provide the Company general business advisory consulting services as requested by the Company from time to
time (the “Consulting Services”).

 

Section
2. Company’s Reliance. The Company is entering into this Agreement in reliance on Consultant’s special and
unique abilities in rendering the Consulting Services and Consultant will use Consultant’s best effort, skill, judgment,
and ability in rendering the Consulting Services.

 

Section
3. Compensation. In consideration for the Consulting Services provided to the Company during the Term, the Company agrees
to pay the Consultant a total compensation of $120,000 (the “Fee”), which shall be paid on a monthly basis
in the amount of $10,000 per month during the Term; provided, that, in the event that either the Consultant or the Company terminates
this Agreement pursuant to Section 8 prior to the end of the Term, the Company will continue to make monthly payments of $10,000
to the Consultant until the full amount of the Fee has been paid.

 

Section
4. Nature of Relationship Between Parties. The Consultant will render the Consulting Services in this Agreement as an independent
contractor, while specifically adhering to the rules, policies, regulations and procedures of the Company, as may be amended by
the Company at any time. Except as otherwise specifically agreed to by the Company in writing, Consultant shall have no authority
or power to bind the Company with respect to third parties and the Consultant shall not represent to third parties that the Consultant
has authority or power to bind the Company. It is not the intention of the parties to this Agreement to create, by virtue of this
Agreement, any employment relationship, trust, partnership, or joint venture between the Consultant and the Company or any of
its affiliates, except as specifically provided in this Agreement.

 

    	 

     

    

 

Section
5. Representations by Consultant. The Consultant represents to the Company that the Consultant is under no contractual,
legal or fiduciary obligation or burden that reasonably may be expected to interfere with the Consultant’s ability to perform
the Consulting Services in accordance with this Agreement’s terms, including without limitation any agreement or obligation
to or with any other company.

 

Section
6. Confidentiality, Non-Disclosure. Each of the parties recognizes that during the course of this Agreement, Company information
that is confidential or of a proprietary nature may be disclosed to the Consultant, including, but not limited to, product and
business plans, finances and other unpublished financial information, projections, and marketing data (“Confidential Information”).
The Consultant agrees to keep all such Confidential Information confidential and not to discuss or disclose it to anyone without
the approval of the Company. Confidential Information shall not include information that the receiving party can demonstrate (a)
is, as of the time of its disclosure, or thereafter becomes part of the public domain through a source other than the Consultant,
(b) was known to the Consultant as of the time of its disclosure, (c) is independently developed by the Consultant, or (d) is
subsequently learned from a third party not under a confidentiality obligation to the providing party.

 

Section
7. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors, heirs, legal representatives, and permitted assigns. This Agreement and any of the rights, interests or
obligations hereunder may not be assigned by either party hereto without the prior written consent of the other party hereto,
which consent shall not be unreasonably withheld.

 

Section
8. Termination Rights. Either party may terminate this Agreement for any reason, at any time, upon written notice to the
other party. If this Agreement is terminated, and the parties fail to execute a new agreement, all Consulting Services will be
discontinued as of the date of such termination.

 

Section
9. Survival. The provisions set forth in Sections 3, 6, 7, 8, 9, 10, 11 and 12 shall survive termination or expiration
of this Agreement.

 

Section
10. Other Payments. At the time the first monthly payment of the Fee is made to the Consultant pursuant to Section 3 of
this Agreement, the Company will also remit payment of $10,000 (the “Prior Fee”) to the Consultant to satisfy
the outstanding compensation payable to the Consultant under that certain Consulting Agreement, dated January 10, 2020, by and
between the Consultant and Jay Pharma, Inc. (the “Prior Agreement”). The Company and the Consultant agree that
following payment by the Company of the Prior Fee, all monies owed to the Consultant pursuant to the Prior Agreement will have
been fully paid.

 

Section
11. Entire Agreement; Modification. This Agreement contains the entire agreement and understanding of the parties hereto
and supercedes all prior agreements and understandings, whether written or oral, relating to the subject matter hereof. No waiver,
amendment or modification of this Agreement shall be valid unless in writing and signed by each of the parties hereto.

 

Section
12. Governing Law. This Agreement shall be governed by, and construed in accordance with, the internal laws of the State
of New York without regard to principles of conflict of laws.

 

Section
13. Counterparts. This Agreement may be executed in counterpart, each of which shall be deemed an original, but all of
which, when taken together, shall constitute one and the same document, it being understood that both parties need not sign the
same counterpart. In the event that any signature is delivered by facsimile transmission or email, such signature shall create
a valid and binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same force
and effect as if such facsimile or email signature page were an original thereof.

 

[Signature
Page Follows]

 

    	-2- 

     

    

 

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

 

	 	ENVERIC BIOSCIENCES, INC.
	 	 	 
	 	By:	 
	 	Name: 	David
Johnson
	 	Title:	Chief
Executive Officer

 

	 	 
	 	BARRY
    KOSTINER

 

[Signature
Page to the Consulting Agreement]Exhibit 10.5

 

ENVERIC
BIOSCIENCES, INC.

2020 LONG-TERM INCENTIVE PLAN

 

The
Enveric Biosciences, Inc. 2020 Long-Term Incentive Plan (the “Plan”) was adopted by the Board of Directors
of Enveric Biosciences, Inc., a Delaware corporation (the “Company”), effective as of December 31, 2020
(the “Effective Date”), subject to approval by the Company’s stockholders.

 

Article
1.

PURPOSE

 

The
purpose of the Plan is to attract and retain the services of key Employees, key Contractors, and Outside Directors of the Company
and its Subsidiaries and to provide such persons with a proprietary interest in the Company through the granting of Incentive
Stock Options, Nonqualified Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Awards,
Dividend Equivalent Rights, and Other Awards, whether granted singly, or in combination, or in tandem, that will:

 

(a)
increase the interest of such persons in the Company’s welfare;

 

(b)
furnish an incentive to such persons to continue their services for the Company or its Subsidiaries; and

 

(c)
provide a means through which the Company may attract able persons as Employees, Contractors, and Outside Directors.

 

With
respect to Reporting Participants, the Plan and all transactions under the Plan are intended to comply with all applicable conditions
of Rule 16b-3 promulgated under the Exchange Act. To the extent any provision of the Plan or action by the Committee fails to
so comply, such provision or action shall be deemed null and void ab initio, to the extent permitted by law and deemed
advisable by the Committee.

 

Article
2.

DEFINITIONS

 

For
the purpose of the Plan, unless the context requires otherwise, the following terms shall have the meanings indicated:

 

2.1
“Applicable Law” means all legal requirements relating to the administration of equity incentive plans
and the issuance and distribution of shares of Common Stock, if any, under applicable corporate laws, applicable securities laws,
the rules of any exchange or inter-dealer quotation system upon which the Company’s securities are listed or quoted, and
any other applicable law, rule or restriction.

 

2.2
“Authorized Officer” is defined in Section 3.2(b) hereof.

 

2.3
“Award” means the grant of any Incentive Stock Option, Nonqualified Stock Option, Restricted Stock,
SAR, Restricted Stock Unit, Performance Award, Dividend Equivalent Right or Other Award, whether granted singly or in combination
or in tandem (each individually referred to herein as an “Incentive”).

 

2.4
“Award Agreement” means a written agreement between a Participant and the Company which sets out the
terms of the grant of an Award.

 

2.5
“Award Period” means the period set forth in the Award Agreement during which one or more Incentives
granted under an Award may be exercised.

 

2.6
“Board” means the board of directors of the Company.

 

    
	 

     

    

 

2.7
“Change in Control” means the occurrence of the event set forth in any one of the following paragraphs,
except as otherwise provided herein:

 

(a)
any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company (not including in the securities
beneficially owned by such Person any securities acquired directly from the Company or its Affiliates) representing fifty percent
(50%) or more of the combined voting power of the Company’s then outstanding securities, excluding any Person who becomes
such a Beneficial Owner in connection with a transaction described in clause (a) of paragraph (c) below;

 

(b)
the following individuals cease for any reason to constitute a majority of the number of directors then serving: individuals who,
on the effective date of this Plan, constitute the Board and any new director (other than a director whose initial assumption
of office is in connection with an actual or threatened election contest, including but not limited to a consent solicitation,
relating to the election of directors of the Company) whose appointment or election by the Board or nomination for election by
the Company’s stockholders was approved or recommended by a vote of at least two-thirds (2/3rds) of the directors
then still in office who either were directors on the effective date of this Plan or whose appointment, election or nomination
for election was previously so approved or recommended;

 

(c)
there is consummated a merger or consolidation of the Company or any direct or indirect subsidiary of the Company with any other
corporation, other than (i) a merger or consolidation which would result in the voting securities of the Company outstanding immediately
prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting
securities of the surviving entity or any parent thereof) at least fifty percent (50%) of the combined voting power of the securities
of the Company or such surviving entity or any parent thereof outstanding immediately after such merger or consolidation, or (ii)
a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no Person
is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company (not including the securities Beneficially
Owned by such Person any securities acquired directly from the Company or its Affiliates other than in connection with the acquisition
by the Company or its Affiliates of a business) representing fifty percent (50%) or more of the combined voting power of the Company’s
then outstanding securities; or

 

(d)
the stockholders of the Company approve a plan of complete liquidation or dissolution of the Company or there is consummated an
agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than a sale
or disposition by the Company of all or substantially all of the Company’s assets to an entity, at least fifty percent (50%)
of the combined voting power of the voting securities of which are owned by stockholders of the Company in substantially the same
proportions as their ownership of the Company immediately prior to such sale.

 

For
purposes hereof:

 

“Affiliate”
shall have the meaning set forth in Rule 12b-2 promulgated under Section 12 of the Exchange Act.

 

“Beneficial
Owner” shall have the meaning set forth in Rule 13d-3 under the Exchange Act.

 

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

 

Notwithstanding
the foregoing provisions of this Section 2.7, if an Award issued under the Plan is subject to Section 409A of the Code,
then an event shall not constitute a Change in Control for purposes of such Award under the Plan unless such event also constitutes
a change in the Company’s ownership, its effective control or the ownership of a substantial portion of its assets within
the meaning of Section 409A of the Code.

 

    
	 

     

    

 

2.8
“Claim” means any claim, liability or obligation of any nature, arising out of or relating to this Plan
or an alleged breach of this Plan or an Award Agreement.

 

2.9
“Code” means the United States Internal Revenue Code of 1986, as amended.

 

2.10
“Committee” means the committee appointed or designated by the Board to administer the Plan in accordance
with Article 3 of this Plan.

 

2.11
“Common Stock” means the common stock, par value $0.01 per share, which the Company is currently authorized
to issue or may in the future be authorized to issue, or any securities into which or for which the common stock of the Company
may be converted or exchanged, as the case may be, pursuant to the terms of this Plan.

 

2.12
“Company” means Enveric Biosciences, Inc., a Delaware corporation, and any successor entity.

 

2.13
“Contractor” means any natural person, who is not an Employee, rendering bona fide services to
the Company or a Subsidiary, with compensation, pursuant to a written independent contractor agreement between such person and
the Company or a Subsidiary, provided that such services are not rendered in connection with the offer or sale of securities in
a capital raising transaction and do not directly or indirectly promote or maintain a market for the Company’s securities.

 

2.14
“Corporation” means any entity that (a) is defined as a corporation under Section 7701 of the Code and
(b) is the Company or is in an unbroken chain of corporations (other than the Company) beginning with the Company, if each of
the corporations other than the last corporation in the unbroken chain owns stock possessing a majority of the total combined
voting power of all classes of stock in one of the other corporations in the chain. For purposes of clause (b) hereof, an entity
shall be treated as a “corporation” if it satisfies the definition of a corporation under Section 7701 of the Code.

 

2.15
“Date of Grant” means the effective date on which an Award is made to a Participant as set forth in
the applicable Award Agreement; provided, however, that solely for purposes of Section 16 of the Exchange Act and the rules and
regulations promulgated thereunder, the Date of Grant of an Award shall be the date of stockholder approval of the Plan if such
date is later than the effective date of such Award as set forth in the Award Agreement.

 

2.16
“Dividend Equivalent Right” means the right of the holder thereof to receive credits based on the cash
dividends that would have been paid on the shares of Common Stock specified in the Award if such shares were held by the Participant
to whom the Award is made.

 

2.17
“Employee” means a common law employee (as defined in accordance with the Regulations and Revenue Rulings
then applicable under Section 3401(c) of the Code) of the Company or any Subsidiary of the Company.

 

2.18
“Exchange Act” means the United States Securities Exchange Act of 1934, as amended.

 

2.19
“Exercise Date” is defined in Section 8.3(b) hereof.

 

2.20
“Exercise Notice” is defined in Section 8.3(b) hereof.

 

2.21
“Fair Market Value” means, as of a particular date, (a) if the shares of Common Stock are listed on
any established national securities exchange, the closing sales price per share of Common Stock on the consolidated transaction
reporting system for the principal securities exchange for the Common Stock on that date (as determined by the Committee, in its
discretion), or, if there shall have been no such sale so reported on that date, on the last preceding date on which such a sale
was so reported; (b) if the shares of Common Stock are not so listed, but are quoted on an automated quotation system, the closing
sales price per share of Common Stock reported on the automated quotation system on that date, or, if there shall have been no
such sale so reported on that date, on the last preceding date on which such a sale was so reported; (c) if the Common Stock is
not so listed or quoted, the mean between the closing bid and asked price on that date, or, if there are no quotations available
for such date, on the last preceding date on which such quotations shall be available, as reported by the National Association
of Securities Dealer, Inc.’s OTC Bulletin Board or the Pink OTC Markets, Inc. (previously known as the National Quotation
Bureau, Inc.); or (d) if none of the above is applicable, such amount as may be determined by the Committee (acting on the advice
of an Independent Third Party, should the Committee elect in its sole discretion to utilize an Independent Third Party for this
purpose), in good faith, to be the fair market value per share of Common Stock. The determination of Fair Market Value shall,
where applicable, be in compliance with Section 409A of the Code.

 

    
	 

     

    

 

2.22
“Immediate Family Members” is defined in Section 15.7 hereof.

 

2.23
“Incentive” is defined in Section 2.3 hereof.

 

2.24
“Incentive Stock Option” means an incentive stock option within the meaning of Section 422 of the Code,
granted pursuant to this Plan.

 

2.25
“Independent Third Party” means an individual or entity independent of the Company having experience
in providing investment banking or similar appraisal or valuation services and with expertise generally in the valuation of securities
or other property for purposes of this Plan. The Committee may utilize one or more Independent Third Parties.

 

2.26
“Nonqualified Stock Option” means a nonqualified stock option, granted pursuant to this Plan, which
is not an Incentive Stock Option.

 

2.27
“Option Price” means the price which must be paid by a Participant upon exercise of a Stock Option to
purchase a share of Common Stock.

 

2.28
“Other Award” means an Award issued pursuant to Section 6.9 hereof.

 

2.29
“Outside Director” means a director of the Company who is not an Employee or a Contractor.

 

2.30
“Participant” means an Employee, Contractor or an Outside Director to whom an Award is granted under
this Plan.

 

2.31
“Performance Award” means an Award hereunder of cash, shares of Common Stock, units or rights based
upon, payable in, or otherwise related to, Common Stock pursuant to Section 6.7 hereof.

 

2.32
“Performance Goal” means any of the Performance Criteria set forth in Section 6.10 hereof.

 

2.33
“Plan” means this Enveric Biosciences, Inc. 2020 Long-Term Incentive Plan, as amended from time to time.

 

2.34
“Prior Plan Awards” means (a) any awards under the Prior Plans that are outstanding on the Effective
Date, and that on or after the Effective Date, are forfeited, expire or are canceled; and (b) any shares subject to awards relating
to Common Stock under the Prior Plans that, on or after the Effective Date are settled in cash.

 

2.35
“Prior Plans” means the Jay Pharma Inc., 2019 Long-term Incentive Plan and the Ameri Holdings, Inc.
2015 Equity Incentive Award Plan.

 

2.36
“Reporting Participant” means a Participant who is subject to the reporting requirements of Section
16 of the Exchange Act.

 

2.37
“Restricted Stock” means shares of Common Stock issued or transferred to a Participant pursuant to Section
6.4 of this Plan which are subject to restrictions or limitations set forth in this Plan and in the related Award Agreement.

 

    
	 

     

    

 

2.38
“Restricted Stock Units” means units awarded to Participants pursuant to Section 6.6 hereof,
which are convertible into Common Stock at such time as such units are no longer subject to restrictions as established by the
Committee.

 

2.39
“Restriction Period” is defined in Section 6.4(b)(i) hereof.

 

2.40
“Retirement” shall have the meaning set forth in the Participant’s Award Agreement, if applicable.

 

2.41
“SAR” or “Stock Appreciation Right” means the right to receive an amount,
in cash and/or Common Stock, equal to the excess of the Fair Market Value of a specified number of shares of Common Stock as of
the date the SAR is exercised (or, as provided in the Award Agreement, converted) over the SAR Price for such shares.

 

2.42
“SAR Price” means the exercise price or conversion price of each share of Common Stock covered by a
SAR, determined on the Date of Grant of the SAR.

 

2.43
“Spread” is defined in Section 12.4(b) hereof.

 

2.44
“Stock Option” means a Nonqualified Stock Option or an Incentive Stock Option.

 

2.45
“Subsidiary” means (a) any corporation in an unbroken chain of corporations beginning with the Company,
if each of the corporations other than the last corporation in the unbroken chain owns stock possessing a majority of the total
combined voting power of all classes of stock in one of the other corporations in the chain, (b) any limited partnership, if the
Company or any corporation described in item (a) above owns a majority of the general partnership interest and a majority of the
limited partnership interests entitled to vote on the removal and replacement of the general partner, and (c) any partnership
or limited liability company, if the partners or members thereof are composed only of the Company, any corporation listed in item
(a) above or any limited partnership listed in item (b) above. “Subsidiaries” means more than one of
any such corporations, limited partnerships, partnerships or limited liability companies.

 

2.46
“Termination of Service” occurs when a Participant who is (a) an Employee of the Company or any Subsidiary
ceases to serve as an Employee of the Company and its Subsidiaries, for any reason; (b) an Outside Director of the Company or
a Subsidiary ceases to serve as a director of the Company and its Subsidiaries for any reason; or (c) a Contractor of the Company
or a Subsidiary ceases to serve as a Contractor of the Company and its Subsidiaries for any reason. Except as may be necessary
or desirable to comply with applicable federal or state law, a “Termination of Service” shall not be deemed to have
occurred when a Participant who is an Employee becomes an Outside Director or Contractor or vice versa. If, however, a Participant
who is an Employee and who has an Incentive Stock Option ceases to be an Employee but does not suffer a Termination of Service,
and if that Participant does not exercise the Incentive Stock Option within the time required under Section 422 of the Code upon
ceasing to be an Employee, the Incentive Stock Option shall thereafter become a Nonqualified Stock Option. Notwithstanding the
foregoing provisions of this Section 2.46, in the event an Award issued under the Plan is subject to Section 409A of the
Code, then, in lieu of the foregoing definition and to the extent necessary to comply with the requirements of Section 409A of
the Code, the definition of “Termination of Service” for purposes of such Award shall be the definition of “separation
from service” provided for under Section 409A of the Code and the regulations or other guidance issued thereunder.

 

2.47
“Total and Permanent Disability” means a Participant is qualified for long-term disability benefits
under the Company’s or Subsidiary’s disability plan or insurance policy; or, if no such plan or policy is then in
existence or if the Participant is not eligible to participate in such plan or policy, that the Participant, because of a physical
or mental condition resulting from bodily injury, disease, or mental disorder, is unable to perform his or her duties of employment
for a period of six (6) continuous months, as determined in good faith by the Committee, based upon medical reports or other evidence
satisfactory to the Committee; provided that, with respect to any Incentive Stock Option, Total and Permanent Disability
shall have the meaning given it under the rules governing Incentive Stock Options under the Code. Notwithstanding the foregoing
provisions of this Section 2.47, in the event an Award issued under the Plan is subject to Section 409A of the Code, then,
in lieu of the foregoing definition and to the extent necessary to comply with the requirements of Section 409A of the Code, the
definition of “Total and Permanent Disability” for purposes of such Award shall be the definition of “disability”
provided for under Section 409A of the Code and the regulations or other guidance issued thereunder.

 

    
	 

     

    

 

Article
3.

ADMINISTRATION

 

3.1
General Administration; Establishment of Committee. Subject to the terms of this Article 3, the Plan shall be administered
by the Board or such committee of the Board as is designated by the Board to administer the Plan (the “Committee”).
The Committee shall consist of not fewer than two persons. Any member of the Committee may be removed at any time, with or without
cause, by resolution of the Board. Any vacancy occurring in the membership of the Committee may be filled by appointment by the
Board. At any time there is no Committee to administer the Plan, any references in this Plan to the Committee shall be deemed
to refer to the Board.

 

Membership
on the Committee shall be limited to those members of the Board who are “non-employee directors” as defined in Rule
16b-3 promulgated under the Exchange Act. The Committee shall select one of its members to act as its Chairman. A majority of
the Committee shall constitute a quorum, and the act of a majority of the members of the Committee present at a meeting at which
a quorum is present shall be the act of the Committee.

 

3.2
Designation of Participants and Awards.

 

(a)
The Committee or the Board shall determine and designate from time to time the eligible persons to whom Awards will be granted
and shall set forth in each related Award Agreement, where applicable, the Award Period, the Date of Grant, and such other terms,
provisions, limitations, and performance requirements, as are approved by the Committee, but not inconsistent with the Plan. The
Committee shall determine whether an Award shall include one type of Incentive or two or more Incentives granted in combination
or two or more Incentives granted in tandem (that is, a joint grant where exercise of one Incentive results in cancellation of
all or a portion of the other Incentive). Although the members of the Committee shall be eligible to receive Awards, all decisions
with respect to any Award, and the terms and conditions thereof, to be granted under the Plan to any member of the Committee shall
be made solely and exclusively by the other members of the Committee, or if such member is the only member of the Committee, by
the Board.

 

(b)
Notwithstanding Section 3.2(a), to the extent permitted by Applicable Law, the Board may, in its discretion and by a resolution
adopted by the Board, authorize one or more officers of the Company (an “Authorized Officer”) to (i)
designate one or more Employees as eligible persons to whom Nonqualified Stock Options, Incentive Stock Options or SARs will be
granted under the Plan, and (ii) determine the number of shares of Common Stock that will be subject to such Nonqualified Stock
Options, Incentive Stock Options or SARs; provided, however, that the resolution of the Board granting such authority
shall (x) specify the total number of shares of Common Stock that may be made subject to the Nonqualified Stock Options, Incentive
Stock Options or SARs, (y) set forth the price or prices (or a formula by which such price or prices may be determined) to be
paid for the purchase of the Common Stock subject to such Nonqualified Stock Options, Incentive Stock Options or SARs, and (z)
not authorize an officer to designate himself as a recipient of any Award.

 

3.3
Authority of the Committee. The Committee, in its discretion, shall (a) interpret the Plan and Award Agreements, (b) prescribe,
amend, and rescind any rules and regulations, as necessary or appropriate for the administration of the Plan, (c) establish performance
goals for an Award and certify the extent of their achievement, and (d) make such other determinations or certifications and take
such other action as it deems necessary or advisable in the administration of the Plan. Any interpretation, determination, or
other action made or taken by the Committee shall be final, binding, and conclusive on all interested parties. The Committee’s
discretion set forth herein shall not be limited by any provision of the Plan, including any provision which by its terms is applicable
notwithstanding any other provision of the Plan to the contrary.

 

The
Committee may delegate to officers of the Company, pursuant to a written delegation, the authority to perform specified functions
under the Plan. Any actions taken by any officers of the Company pursuant to such written delegation of authority shall be deemed
to have been taken by the Committee.

 

    
	 

     

    

 

With
respect to restrictions in the Plan that are based on the requirements of Rule 16b-3 promulgated under the Exchange Act, Section
422 of the Code, the rules of any exchange or inter-dealer quotation system upon which the Company’s securities are listed
or quoted, or any other Applicable Law, to the extent that any such restrictions are no longer required by Applicable Law, the
Committee shall have the sole discretion and authority to grant Awards that are not subject to such mandated restrictions and/or
to waive any such mandated restrictions with respect to outstanding Awards.

 

Article
4.

ELIGIBILITY

 

Any
Employee (including an Employee who is also a director or an officer), Contractor or Outside Director of the Company whose judgment,
initiative, and efforts contributed or may be expected to contribute to the successful performance of the Company is eligible
to participate in the Plan; provided that only Employees of a Corporation shall be eligible to receive Incentive Stock Options.
The Committee, upon its own action, may grant, but shall not be required to grant, an Award to any Employee, Contractor or Outside
Director. Awards may be granted by the Committee at any time and from time to time to new Participants, or to then Participants,
or to a greater or lesser number of Participants, and may include or exclude previous Participants, as the Committee shall determine.
Except as required by this Plan, Awards need not contain similar provisions. The Committee’s determinations under the Plan
(including without limitation determinations of which Employees, Contractors or Outside Directors, if any, are to receive Awards,
the form, amount and timing of such Awards, the terms and provisions of such Awards and the agreements evidencing same) need not
be uniform and may be made by it selectively among Participants who receive, or are eligible to receive, Awards under the Plan.

 

Article
5.

SHARES SUBJECT TO PLAN

 

5.1
Number Available for Awards. Subject to adjustment as provided in Articles 11 and 12 and subject to increase by any
Prior Plan Awards eligible for reuse pursuant to Section 5.2, the maximum number of shares of Common Stock that may be
delivered pursuant to Awards granted under the Plan is two million six hundred ninety-five eight hundred ninety-three (2,695,893)
shares, of which one hundred percent (100%) may be delivered pursuant to Incentive Stock Options. Shares to be issued may be made
available from authorized but unissued Common Stock, Common Stock held by the Company in its treasury, or Common Stock purchased
by the Company on the open market or otherwise. During the term of this Plan, the Company will at all times reserve and keep available
the number of shares of Common Stock that shall be sufficient to satisfy the requirements of this Plan.

 

5.2
Reuse of Shares. To the extent that any Award under this Plan or any Prior Plan Award shall be forfeited, shall expire or
be canceled, in whole or in part, then the number of shares of Common Stock covered by the Award or any Prior Plan Award so forfeited,
expired or canceled may again be awarded pursuant to the provisions of this Plan. In the event that previously acquired shares
of Common Stock are delivered to the Company in full or partial payment of the exercise price for the exercise of a Stock Option
granted under this Plan, the number of shares of Common Stock available for future Awards under this Plan shall be reduced only
by the net number of shares of Common Stock issued upon the exercise of the Stock Option. Awards that may be satisfied either
by the issuance of shares of Common Stock or by cash or other consideration shall be counted against the maximum number of shares
of Common Stock that may be issued under this Plan only during the period that the Award is outstanding or to the extent the Award
is ultimately satisfied by the issuance of shares of Common Stock. Awards will not reduce the number of shares of Common Stock
that may be issued pursuant to this Plan if the settlement of the Award will not require the issuance of shares of Common Stock,
as, for example, a SAR that can be satisfied only by the payment of cash. Notwithstanding any provisions of the Plan to the contrary,
only shares forfeited back to the Company, shares canceled on account of termination, expiration or lapse of an Award, shares
surrendered in payment of the exercise price of a Stock Option or shares withheld for payment of applicable employment taxes and/or
withholding obligations resulting from the exercise of an option shall again be available for grant of Incentive Stock Options
under the Plan, but shall not increase the maximum number of shares described in Section 5.1 above as the maximum number
of shares of Common Stock that may be delivered pursuant to Incentive Stock Options.

 

    
	 

     

    

 

Article
6.

GRANT OF AWARDS

 

6.1
In General.

 

(a)
The grant of an Award shall be authorized by the Committee and shall be evidenced by an Award Agreement setting forth the Incentive
or Incentives being granted, the total number of shares of Common Stock subject to the Incentive(s), the Option Price (if applicable),
the Award Period, the Date of Grant, and such other terms, provisions, limitations, and performance objectives, as are approved
by the Committee, but (i) not inconsistent with the Plan, and (ii) to the extent an Award issued under the Plan is subject to
Section 409A of the Code, in compliance with the applicable requirements of Section 409A of the Code and the regulations or other
guidance issued thereunder. The Company shall execute an Award Agreement with a Participant after the Committee approves the issuance
of an Award. Any Award granted pursuant to this Plan must be granted within ten (10) years of the date of adoption of this Plan
by the Board. The Plan shall be submitted to the Company’s stockholders for approval; however, the Committee may grant Awards
under the Plan prior to the time of stockholder approval. Any such Award granted prior to such stockholder approval shall be made
subject to such stockholder approval. The grant of an Award to a Participant shall not be deemed either to entitle the Participant
to, or to disqualify the Participant from, receipt of any other Award under the Plan.

 

(b)
If the Committee establishes a purchase price for an Award, the Participant must accept such Award within a period of thirty (30)
days (or such shorter period as the Committee may specify) after the Date of Grant by executing the applicable Award Agreement
and paying such purchase price.

 

(c)
Any Award under this Plan that is settled in whole or in part in cash on a deferred basis may provide for interest equivalents
to be credited with respect to such cash payment. Interest equivalents may be compounded and shall be paid upon such terms and
conditions as may be specified by the grant.

 

6.2
Option Price. The Option Price for any share of Common Stock which may be purchased under a Nonqualified Stock Option for
any share of Common Stock must be equal to or greater than the Fair Market Value of the share on the Date of Grant. The Option
Price for any share of Common Stock which may be purchased under an Incentive Stock Option must be at least equal to the Fair
Market Value of the share on the Date of Grant; if an Incentive Stock Option is granted to an Employee who owns or is deemed to
own (by reason of the attribution rules of Section 424(d) of the Code) more than ten percent (10%) of the combined voting power
of all classes of stock of the Company (or any parent or Subsidiary), the Option Price shall be at least one hundred ten percent
(110%) of the Fair Market Value of the Common Stock on the Date of Grant.

 

6.3
Maximum ISO Grants. The Committee may not grant Incentive Stock Options under the Plan to any Employee which would permit
the aggregate Fair Market Value (determined on the Date of Grant) of the Common Stock with respect to which Incentive Stock Options
(under this and any other plan of the Company and its Subsidiaries) are exercisable for the first time by such Employee during
any calendar year to exceed $100,000. To the extent any Stock Option granted under this Plan which is designated as an Incentive
Stock Option exceeds this limit or otherwise fails to qualify as an Incentive Stock Option, such Stock Option (or any such portion
thereof) shall be a Nonqualified Stock Option. In such case, the Committee shall designate which stock will be treated as Incentive
Stock Option stock by causing the issuance of a separate stock certificate and identifying such stock as Incentive Stock Option
stock on the Company’s stock transfer records.

 

6.4
Restricted Stock. If Restricted Stock is granted to or received by a Participant under an Award (including a Stock Option),
the Committee shall set forth in the related Award Agreement: (a) the number of shares of Common Stock awarded, (b) the price,
if any, to be paid by the Participant for such Restricted Stock and the method of payment of the price, (c) the time or times
within which such Award may be subject to forfeiture, (d) specified Performance Goals of the Company, a Subsidiary, any division
thereof or any group of Employees of the Company, or other criteria, which the Committee determines must be met in order to remove
any restrictions (including vesting) on such Award, and (e) all other terms, limitations, restrictions, and conditions of the
Restricted Stock, which shall be consistent with this Plan, to the extent applicable and, to the extent Restricted Stock granted
under the Plan is subject to Section 409A of the Code, in compliance with the applicable requirements of Section 409A of the Code
and the regulations or other guidance issued thereunder. The provisions of Restricted Stock need not be the same with respect
to each Participant.

 

    
	 

     

    

 

(a)
Legend on Shares. The Company shall electronically register the Restricted Stock awarded to a Participant in the name of
such Participant, which shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such
Restricted Stock, substantially as provided in Section 15.9 of the Plan. No stock certificate or certificates shall be
issued with respect to such shares of Common Stock, unless, following the expiration of the Restriction Period (as defined in
Section 6.4(b)(i)) without forfeiture in respect of such shares of Common Stock, the Participant requests delivery of the
certificate or certificates by submitting a written request to the Committee (or such party designated by the Company) requesting
delivery of the certificates. The Company shall deliver the certificates requested by the Participant to the Participant as soon
as administratively practicable following the Company’s receipt of such request.

 

(b)
Restrictions and Conditions. Shares of Restricted Stock shall be subject to the following restrictions and conditions:

 

(i)
Subject to the other provisions of this Plan and the terms of the particular Award Agreements, during such period as may be determined
by the Committee commencing on the Date of Grant or the date of exercise of an Award (the “Restriction Period”),
the Participant shall not be permitted to sell, transfer, pledge or assign shares of Restricted Stock. Except for these limitations,
the Committee may in its sole discretion, remove any or all of the restrictions on such Restricted Stock whenever it may determine
that, by reason of changes in Applicable Laws or other changes in circumstances arising after the date of the Award, such action
is appropriate.

 

(ii)
Except as provided in sub-paragraph (a) above or in the applicable Award Agreement, the Participant shall have, with respect to
his or her Restricted Stock, all of the rights of a stockholder of the Company, including the right to vote the shares, and the
right to receive any dividends thereon. Certificates for shares of Common Stock free of restriction under this Plan shall be delivered
to the Participant promptly after, and only after, the Restriction Period shall expire without forfeiture in respect of such shares
of Common Stock or after any other restrictions imposed on such shares of Common Stock by the applicable Award Agreement or other
agreement have expired. Certificates for the shares of Common Stock forfeited under the provisions of the Plan and the applicable
Award Agreement shall be promptly returned to the Company by the forfeiting Participant. Each Award Agreement shall require that
each Participant, in connection with the issuance of a certificate for Restricted Stock, shall endorse such certificate in blank
or execute a stock power in form satisfactory to the Company in blank and deliver such certificate and executed stock power to
the Company.

 

(iii)
The Restriction Period of Restricted Stock shall commence on the Date of Grant or the date of exercise of an Award, as specified
in the Award Agreement, and, subject to Article 12 of the Plan, unless otherwise established by the Committee in the Award
Agreement setting forth the terms of the Restricted Stock, shall expire upon satisfaction of the conditions set forth in the Award
Agreement; such conditions may provide for vesting based on length of continuous service or such Performance Goals, as may be
determined by the Committee in its sole discretion.

 

(iv)
Except as otherwise provided in the particular Award Agreement, upon Termination of Service for any reason during the Restriction
Period, the nonvested shares of Restricted Stock shall be forfeited by the Participant. In the event a Participant has paid any
consideration to the Company for such forfeited Restricted Stock, the Committee shall specify in the Award Agreement that either
(1) the Company shall be obligated to, or (2) the Company may, in its sole discretion, elect to, pay to the Participant, as soon
as practicable after the event causing forfeiture, in cash, an amount equal to the lesser of the total consideration paid by the
Participant for such forfeited shares or the Fair Market Value of such forfeited shares as of the date of Termination of Service,
as the Committee, in its sole discretion shall select. Upon any forfeiture, all rights of a Participant with respect to the forfeited
shares of the Restricted Stock shall cease and terminate, without any further obligation on the part of the Company.

 

    
	 

     

    

 

6.5
SARs. The Committee may grant SARs to any Participant, either as a separate Award or in connection with a Stock Option. SARs
shall be subject to such terms and conditions as the Committee shall impose, provided that such terms and conditions are (a) not
inconsistent with the Plan, and (b) to the extent a SAR issued under the Plan is subject to Section 409A of the Code, in compliance
with the applicable requirements of Section 409A of the Code and the regulations or other guidance issued thereunder. The grant
of the SAR may provide that the holder may be paid for the value of the SAR either in cash or in shares of Common Stock, or a
combination thereof. In the event of the exercise of a SAR payable in shares of Common Stock, the holder of the SAR shall receive
that number of whole shares of Common Stock having an aggregate Fair Market Value on the date of exercise equal to the value obtained
by multiplying (a) the difference between the Fair Market Value of a share of Common Stock on the date of exercise over the SAR
Price as set forth in such SAR (or other value specified in the agreement granting the SAR), by (b) the number of shares of Common
Stock as to which the SAR is exercised, with a cash settlement to be made for any fractional shares of Common Stock. The SAR Price
for any share of Common Stock subject to a SAR may be equal to or greater than the Fair Market Value of the share on the Date
of Grant. The Committee, in its sole discretion, may place a ceiling on the amount payable upon exercise of a SAR, but any such
limitation shall be specified at the time that the SAR is granted.

 

6.6
Restricted Stock Units. Restricted Stock Units may be awarded or sold to any Participant under such terms and conditions as
shall be established by the Committee, provided, however, that such terms and conditions are (a) not inconsistent with the Plan,
and (b) to the extent a Restricted Stock Unit issued under the Plan is subject to Section 409A of the Code, in compliance with
the applicable requirements of Section 409A of the Code and the regulations or other guidance issued thereunder. Restricted Stock
Units shall be subject to such restrictions as the Committee determines, including, without limitation, (a) a prohibition against
sale, assignment, transfer, pledge, hypothecation or other encumbrance for a specified period; or (b) a requirement that the holder
forfeit (or in the case of shares of Common Stock or units sold to the Participant, resell to the Company at cost) such shares
or units in the event of Termination of Service during the period of restriction.

 

6.7
Performance Awards.

 

(a)
The Committee may grant Performance Awards to one or more Participants. The terms and conditions of Performance Awards shall be
specified at the time of the grant and may include provisions establishing the performance period, the Performance Goals to be
achieved during a performance period, and the maximum or minimum settlement values, provided that such terms and conditions are
(i) not inconsistent with the Plan and (ii) to the extent a Performance Award issued under the Plan is subject to Section 409A
of the Code, in compliance with the applicable requirements of Section 409A of the Code and the regulations or other guidance
issued thereunder. If the Performance Award is to be in shares of Common Stock, the Performance Awards may provide for the issuance
of the shares of Common Stock at the time of the grant of the Performance Award or at the time of the certification by the Committee
that the Performance Goals for the performance period have been met; provided, however, if shares of Common Stock
are issued at the time of the grant of the Performance Award and if, at the end of the performance period, the Performance Goals
are not certified by the Committee to have been fully satisfied, then, notwithstanding any other provisions of this Plan to the
contrary, the Common Stock shall be forfeited in accordance with the terms of the grant to the extent the Committee determines
that the Performance Goals were not met. The forfeiture of shares of Common Stock issued at the time of the grant of the Performance
Award due to failure to achieve the established Performance Goals shall be separate from and in addition to any other restrictions
provided for in this Plan that may be applicable to such shares of Common Stock. Each Performance Award granted to one or more
Participants shall have its own terms and conditions.

 

If
the Committee determines, in its sole discretion, that the established performance measures or objectives are no longer suitable
because of a change in the Company’s business, operations, corporate structure, or for other reasons that the Committee
deemed satisfactory, the Committee may modify the performance measures or objectives and/or the performance period.

 

(b)
Performance Awards may be valued by reference to the Fair Market Value of a share of Common Stock or according to any formula
or method deemed appropriate by the Committee, in its sole discretion, including, but not limited to, achievement of Performance
Goals or other specific financial, production, sales or cost performance objectives that the Committee believes to be relevant
to the Company’s business and/or remaining in the employ of the Company or a Subsidiary for a specified period of time.
Performance Awards may be paid in cash, shares of Common Stock, or other consideration, or any combination thereof. If payable
in shares of Common Stock, the consideration for the issuance of such shares may be the achievement of the performance objective
established at the time of the grant of the Performance Award. Performance Awards may be payable in a single payment or in installments
and may be payable at a specified date or dates or upon attaining the performance objective. The extent to which any applicable
performance objective has been achieved shall be conclusively determined by the Committee.

 

    
	 

     

    

 

6.8
Dividend Equivalent Rights. The Committee may grant a Dividend Equivalent Right to any Participant, either as a component
of another Award or as a separate Award. The terms and conditions of the Dividend Equivalent Right shall be specified by the grant.
Dividend equivalents credited to the holder of a Dividend Equivalent Right may be paid currently or may be deemed to be reinvested
in additional shares of Common Stock (which may thereafter accrue additional dividend equivalents). Any such reinvestment shall
be at the Fair Market Value at the time thereof. Dividend Equivalent Rights may be settled in cash or shares of Common Stock,
or a combination thereof, in a single payment or in installments. A Dividend Equivalent Right granted as a component of another
Award may provide that such Dividend Equivalent Right shall be settled upon exercise, settlement, or payment of, or lapse of restrictions
on, such other Award, and that such Dividend Equivalent Right granted as a component of another Award may also contain terms and
conditions different from such other Award.

 

6.9
Other Awards. The Committee may grant to any Participant other forms of Awards, based upon, payable in, or otherwise related
to, in whole or in part, shares of Common Stock, if the Committee determines that such other form of Award is consistent with
the purpose and restrictions of this Plan. The terms and conditions of such other form of Award shall be specified by the grant.
Such Other Awards may be granted for no cash consideration, for such minimum consideration as may be required by Applicable Law,
or for such other consideration as may be specified by the grant.

 

6.10
Performance Goals. Awards of Restricted Stock, Restricted Stock Units, Performance Award and Other Awards (whether relating
to cash or shares of Common Stock) under the Plan may be made subject to the attainment of Performance Goals relating to one or
more business criteria which may consist of one or more or any combination of the following criteria: cash flow; cost; revenues;
sales; ratio of debt to debt plus equity; net borrowing, credit quality or debt ratings; profit before tax; economic profit; earnings
before interest and taxes; earnings before interest, taxes, depreciation and amortization; gross margin; earnings per share (whether
on a pre-tax, after-tax, operational or other basis); operating earnings; capital expenditures; expenses or expense levels; economic
value added; ratio of operating earnings to capital spending or any other operating ratios; free cash flow; net profit; net sales;
net asset value per share; the accomplishment of mergers, acquisitions, dispositions, public offerings or similar extraordinary
business transactions; sales growth; price of the Company’s Common Stock; return on assets, equity or stockholders’
equity; market share; inventory levels, inventory turn or shrinkage; or total return to stockholders (“Performance
Criteria”). Any Performance Criteria may be used to measure the performance of the Company as a whole or any business
unit of the Company and may be measured relative to a peer group or index. Any Performance Criteria may include or exclude (a)
events that are of an unusual nature or indicate infrequency of occurrence, (b) gains or losses on the disposition of a business,
(c) changes in tax or accounting regulations or laws, (d) the effect of a merger or acquisition, as identified in the Company’s
quarterly and annual earnings releases, or (e) other similar occurrences. In all other respects, Performance Criteria shall be
calculated in accordance with the Company’s financial statements, under generally accepted accounting principles, or under
a methodology established by the Committee prior to the issuance of an Award which is consistently applied and identified in the
audited financial statements, including footnotes, or the Compensation Discussion and Analysis section of the Company’s
annual report.

 

6.11
Tandem Awards. The Committee may grant two or more Incentives in one Award in the form of a “tandem Award,” so
that the right of the Participant to exercise one Incentive shall be canceled if, and to the extent, the other Incentive is exercised.
For example, if a Stock Option and a SAR are issued in a tandem Award, and the Participant exercises the SAR with respect to one
hundred (100) shares of Common Stock, the right of the Participant to exercise the related Stock Option shall be canceled to the
extent of one hundred (100) shares of Common Stock.

 

6.12
Recoupment for Restatements. Notwithstanding any other language in this Plan to the contrary, the Company may recoup all or
any portion of any shares or cash paid to a Participant in connection with an Award, in the event of a restatement of the Company’s
financial statements as set forth in the Company’s clawback policy, if any, approved by the Company’s Board from time
to time.

 

    
	 

     

    

 

Article
7.

AWARD PERIOD; VESTING

 

7.1
Award Period. Subject to the other provisions of this Plan, the Committee may, in its discretion, provide that an Incentive
may not be exercised in whole or in part for any period or periods of time or beyond any date specified in the Award Agreement.
Except as provided in the Award Agreement, an Incentive may be exercised in whole or in part at any time during its term. The
Award Period for an Incentive shall be reduced or terminated upon Termination of Service. No Incentive granted under the Plan
may be exercised at any time after the end of its Award Period. No portion of any Incentive may be exercised after the expiration
of ten (10) years from its Date of Grant. However, if an Employee owns or is deemed to own (by reason of the attribution rules
of Section 424(d) of the Code) more than ten percent (10%) of the combined voting power of all classes of stock of the Company
(or any parent or Subsidiary) and an Incentive Stock Option is granted to such Employee, the term of such Incentive Stock Option
(to the extent required by the Code at the time of grant) shall be no more than five (5) years from the Date of Grant.

 

7.2
Vesting. The Committee, in its sole discretion, may determine that an Incentive will be immediately vested in whole or in
part, or that all or any portion may not be vested until a date, or dates, subsequent to its Date of Grant, or until the occurrence
of one or more specified events, subject in any case to the terms of the Plan. If the Committee imposes conditions upon vesting,
then, subsequent to the Date of Grant, the Committee may, in its sole discretion, accelerate the date on which all or any portion
of the Incentive may be vested.

 

Article
8.

EXERCISE OR CONVERSION OF INCENTIVE

 

8.1
In General. A vested Incentive may be exercised or converted, during its Award Period, subject to limitations and restrictions
set forth in the Award Agreement.

 

8.2
Securities Law and Exchange Restrictions. In no event may an Incentive be exercised or shares of Common Stock issued pursuant
to an Award if a necessary listing or quotation of the shares of Common Stock on a stock exchange or inter-dealer quotation system
or any registration under state or federal securities laws required under the circumstances has not been accomplished.

 

8.3
Exercise of Stock Option.

 

(a)
In General. If a Stock Option is exercisable prior to the time it is vested, the Common Stock obtained on the exercise
of the Stock Option shall be Restricted Stock which is subject to the applicable provisions of the Plan and the Award Agreement.
If the Committee imposes conditions upon exercise, then subsequent to the Date of Grant, the Committee may, in its sole discretion,
accelerate the date on which all or any portion of the Stock Option may be exercised. No Stock Option may be exercised for a fractional
share of Common Stock. The granting of a Stock Option shall impose no obligation upon the Participant to exercise that Stock Option.

 

(b)
Notice and Payment. Subject to such administrative regulations as the Committee may from time to time adopt, a Stock Option
may be exercised by the delivery of written notice to the Committee setting forth the number of shares of Common Stock with respect
to which the Stock Option is to be exercised (the “Exercise Notice”) and the date of exercise thereof
(the “Exercise Date”) with respect to any Stock Option shall be the date that the Participant has delivered
both the Exercise Notice and consideration to the Company with a value equal to the total Option Price of the shares to be purchased
(plus any employment tax withholding or other tax payment due with respect to such Award), payable as provided in the Award Agreement,
which may provide for payment in any one or more of the following ways: (i) cash or check, bank draft, or money order payable
to the order of the Company, (ii) Common Stock (including Restricted Stock) owned by the Participant on the Exercise Date, valued
at its Fair Market Value on the Exercise Date, and which the Participant has not acquired from the Company within six (6) months
prior to the Exercise Date, (iii) by delivery (including by FAX or electronic transmission) to the Company or its designated agent
of an executed irrevocable option exercise form (or, to the extent permitted by the Company, exercise instructions, which may
be communicated in writing, telephonically, or electronically) together with irrevocable instructions from the Participant to
a broker or dealer, reasonably acceptable to the Company, to sell certain of the shares of Common Stock purchased upon exercise
of the Stock Option or to pledge such shares as collateral for a loan and promptly deliver to the Company the amount of sale or
loan proceeds necessary to pay such purchase price, (iv) by requesting the Company to withhold the number of shares otherwise
deliverable upon exercise of the Stock Option by the number of shares of Common Stock having an aggregate Fair Market Value equal
to the aggregate Option Price at the time of exercise (i.e., a cashless net exercise), and/or (v) in any other form of
valid consideration that is acceptable to the Committee in its sole discretion. In the event that shares of Restricted Stock are
tendered as consideration for the exercise of a Stock Option, a number of shares of Common Stock issued upon the exercise of the
Stock Option equal to the number of shares of Restricted Stock used as consideration therefor shall be subject to the same restrictions
and provisions as the Restricted Stock so tendered. If the Participant fails to deliver the consideration described in this Section
8.3(b) within three (3) business days of the date of the Exercise Notice, then the Exercise Notice shall be null and void
and the Company will have no obligation to deliver any shares of Common Stock to the Participant in connection with such Exercise
Notice.

 

    
	 

     

    

 

(c)
Issuance of Certificate; Registration of Shares. Except as otherwise provided in Section 6.4 hereof (with respect
to shares of Restricted Stock) or in the applicable Award Agreement, upon payment of all amounts due from the Participant, the
Company shall cause the Common Stock then being purchased to be registered in the Participant’s name (or the person exercising
the Participant’s Stock Option in the event of his or her death), but shall not issue certificates for the Common Stock
unless the Participant or such other person requests delivery of the certificates for the Common Stock, in writing in accordance
with the procedures established by the Committee. The Company shall deliver certificates to the Participant (or the person exercising
the Participant’s Stock Option in the event of his or her death) as soon as administratively practicable following the Company’s
receipt of a written request from the Participant or such other person for delivery of the certificates. Notwithstanding the forgoing,
if the Participant has exercised an Incentive Stock Option, the Company may at its option retain physical possession of the certificate
evidencing the shares acquired upon exercise until the expiration of the holding periods described in Section 422(a)(1) of the
Code. Any obligation of the Company to deliver shares of Common Stock shall, however, be subject to the condition that, if at
any time the Committee shall determine in its discretion that the listing, registration, or qualification of the Stock Option
or the Common Stock upon any securities exchange or inter-dealer quotation system or under any state or federal law, or the consent
or approval of any governmental regulatory body, is necessary as a condition of, or in connection with, the Stock Option or the
issuance or purchase of shares of Common Stock thereunder, the Stock Option may not be exercised in whole or in part unless such
listing, registration, qualification, consent, or approval shall have been effected or obtained free of any conditions not reasonably
acceptable to the Committee.

 

(d)
Failure to Pay. Except as may otherwise be provided in an Award Agreement, if the Participant fails to pay for any of the
Common Stock specified in such notice or fails to accept delivery thereof, that portion of the Participant’s Stock Option
and right to purchase such Common Stock may be forfeited by the Participant.

 

8.4
SARs. Subject to the conditions of this Section 8.4 and such administrative regulations as the Committee may from time
to time adopt, a SAR may be exercised by the delivery (including by FAX) of written notice to the Committee setting forth the
number of shares of Common Stock with respect to which the SAR is to be exercised and the date of exercise thereof (the “Exercise
Date”) which shall be at least three (3) days after giving such notice unless an earlier time shall have been mutually
agreed upon. Subject to the terms of the Award Agreement and only if permissible under Section 409A of the Code and the regulations
or other guidance issued thereunder (or, if not so permissible, at such time as permitted by Section 409A of the Code and the
regulations or other guidance issued thereunder), the Participant shall receive from the Company in exchange therefor in the discretion
of the Committee, and subject to the terms of the Award Agreement:

 

(a)
cash in an amount equal to the excess (if any) of the Fair Market Value (as of the Exercise Date, or if provided in the Award
Agreement, conversion, of the SAR) per share of Common Stock over the SAR Price per share specified in such SAR, multiplied by
the total number of shares of Common Stock of the SAR being surrendered;

 

    
	 

     

    

 

(b)
that number of shares of Common Stock having an aggregate Fair Market Value (as of the Exercise Date, or if provided in the Award
Agreement, conversion, of the SAR) equal to the amount of cash otherwise payable to the Participant, with a cash settlement to
be made for any fractional share interests; or

 

(c)
the Company may settle such obligation in part with shares of Common Stock and in part with cash.

 

The
distribution of any cash or Common Stock pursuant to the foregoing sentence shall be made at such time as set forth in the Award
Agreement.

 

8.5
Disqualifying Disposition of Incentive Stock Option. If shares of Common Stock acquired upon exercise of an Incentive Stock
Option are disposed of by a Participant prior to the expiration of either two (2) years from the Date of Grant of such Stock Option
or one (1) year from the transfer of shares of Common Stock to the Participant pursuant to the exercise of such Stock Option,
or in any other disqualifying disposition within the meaning of Section 422 of the Code, such Participant shall notify the Company
in writing of the date and terms of such disposition. A disqualifying disposition by a Participant shall not affect the status
of any other Stock Option granted under the Plan as an Incentive Stock Option within the meaning of Section 422 of the Code.

 

Article
9.

AMENDMENT OR DISCONTINUANCE

 

Subject
to the limitations set forth in this Article 9, the Board may at any time and from time to time, without the consent of
the Participants, alter, amend, revise, suspend, or discontinue the Plan in whole or in part; provided, however, that no amendment
for which stockholder approval is required either (a) by any securities exchange or inter-dealer quotation system on which the
Common Stock is listed or traded or (b) in order for the Plan and Incentives awarded under the Plan to continue to comply with
Sections 421 and 422 of the Code, including any successors to such Sections, or other Applicable Law, shall be effective unless
such amendment shall be approved by the requisite vote of the stockholders of the Company entitled to vote thereon. Any such amendment
shall, to the extent deemed necessary or advisable by the Committee, be applicable to any outstanding Incentives theretofore granted
under the Plan, notwithstanding any contrary provisions contained in any Award Agreement. In the event of any such amendment to
the Plan, the holder of any Incentive outstanding under the Plan shall, upon request of the Committee and as a condition to the
exercisability thereof, execute a conforming amendment in the form prescribed by the Committee to any Award Agreement relating
thereto. Notwithstanding anything contained in this Plan to the contrary, unless required by law, no action contemplated or permitted
by this Article 9 shall adversely affect any rights of Participants or obligations of the Company to Participants with
respect to any Incentive theretofore granted under the Plan without the consent of the affected Participant.

 

Article
10.

TERM

 

The
Plan shall be effective from the date that this Plan is adopted by the Board. Unless sooner terminated by action of the Board,
the Plan will terminate on the tenth anniversary of the Effective Date, but Incentives granted before that date will continue
to be effective in accordance with their terms and conditions.

 

Article
11.

CAPITAL ADJUSTMENTS

 

In
the event that any dividend or other distribution (whether in the form of cash, Common Stock, other securities, or other property),
recapitalization, stock split, reverse stock split, rights offering, reorganization, merger, consolidation, split-up, spin-off,
split-off, combination, subdivision, repurchase, or exchange of Common Stock or other securities of the Company, issuance of warrants
or other rights to purchase Common Stock or other securities of the Company, or other similar corporate transaction or event affects
the fair value of an Award, then the Committee shall adjust any or all of the following so that the fair value of the Award immediately
after the transaction or event is equal to the fair value of the Award immediately prior to the transaction or event (a) the number
of shares and type of Common Stock (or the securities or property) which thereafter may be made the subject of Awards, (b) the
number of shares and type of Common Stock (or other securities or property) subject to outstanding Awards, (c) the number of shares
and type of Common Stock (or other securities or property) specified as the annual per-participant limitation under Section
5.1 of the Plan, (d) the Option Price of each outstanding Award, (e) the amount, if any, the Company pays for forfeited shares
of Common Stock in accordance with Section 6.4, and (f) the number of or SAR Price of shares of Common Stock then subject
to outstanding SARs previously granted and unexercised under the Plan, to the end that the same proportion of the Company’s
issued and outstanding shares of Common Stock in each instance shall remain subject to exercise at the same aggregate SAR Price;
provided, however, that the number of shares of Common Stock (or other securities or property) subject to any Award shall always
be a whole number. Notwithstanding the foregoing, no such adjustment shall be made or authorized to the extent that such adjustment
would cause the Plan or any Stock Option to violate Section 422 of the Code or Section 409A of the Code. Such adjustments shall
be made in accordance with the rules of any securities exchange, stock market, or stock quotation system to which the Company
is subject.

 

    
	 

     

    

 

Upon
the occurrence of any such adjustment, the Company shall provide notice to each affected Participant of its computation of such
adjustment which shall be conclusive and shall be binding upon each such Participant.

 

Article
12.

RECAPITALIZATION, MERGER AND CONSOLIDATION

 

12.1
No Effect on Company’s Authority. The existence of this Plan and Incentives granted hereunder shall not affect in any
way the right or power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations,
or other changes in the Company’s capital structure and its business, or any Change in Control, or any merger or consolidation
of the Company, or any issuance of bonds, debentures, preferred or preference stocks ranking prior to or otherwise affecting the
Common Stock or the rights thereof (or any rights, options, or warrants to purchase same), or the dissolution or liquidation of
the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether
of a similar character or otherwise.

 

12.2
Conversion of Incentives Where Company Survives. Subject to any required action by the stockholders and except as otherwise
provided by Section 12.4 hereof or as may be required to comply with Section 409A of the Code and the regulations or other
guidance issued thereunder, if the Company shall be the surviving or resulting corporation in any merger, consolidation or share
exchange, any Incentive granted hereunder shall pertain to and apply to the securities or rights (including cash, property, or
assets) to which a holder of the number of shares of Common Stock subject to the Incentive would have been entitled.

 

12.3
Exchange or Cancellation of Incentives Where Company Does Not Survive. Except as otherwise provided by Section 12.4
hereof or as may be required to comply with Section 409A of the Code and the regulations or other guidance issued thereunder,
in the event of any merger, consolidation or share exchange pursuant to which the Company is not the surviving or resulting corporation,
there shall be substituted for each share of Common Stock subject to the unexercised portions of outstanding Incentives, that
number of shares of each class of stock or other securities or that amount of cash, property, or assets of the surviving, resulting
or consolidated company which were distributed or distributable to the stockholders of the Company in respect to each share of
Common Stock held by them, such outstanding Incentives to be thereafter exercisable for such stock, securities, cash, or property
in accordance with their terms.

 

12.4
Cancellation of Incentives. Notwithstanding the provisions of Sections 12.2 and 12.3 hereof, and except as may be required
to comply with Section 409A of the Code and the regulations or other guidance issued thereunder, all Incentives granted hereunder
may be canceled by the Company, in its sole discretion, as of the effective date of any Change in Control, merger, consolidation
or share exchange, or any issuance of bonds, debentures, preferred or preference stocks ranking prior to or otherwise affecting
the Common Stock or the rights thereof (or any rights, options, or warrants to purchase same), or of any proposed sale of all
or substantially all of the assets of the Company, or of any dissolution or liquidation of the Company, by either:

 

(a)
giving notice to each holder thereof or his personal representative of its intention to cancel those Incentives for which the
issuance of shares of Common Stock involved payment by the Participant for such shares, and permitting the purchase during the
thirty (30) day period next preceding such effective date of any or all of the shares of Common Stock subject to such outstanding
Incentives, including in the Board’s discretion some or all of the shares as to which such Incentives would not otherwise
be vested and exercisable; or

 

    
	 

     

    

 

(b)
in the case of Incentives that are either (i) settled only in shares of Common Stock, or (ii) at the election of the Participant,
settled in shares of Common Stock, paying the holder thereof an amount equal to a reasonable estimate of the difference between
the net amount per share payable in such transaction or as a result of such transaction, and the price per share of such Incentive
to be paid by the Participant (hereinafter the “Spread”), multiplied by the number of shares subject
to the Incentive. In cases where the shares constitute, or would after exercise, constitute Restricted Stock, the Company, in
its discretion, may include some or all of those shares in the calculation of the amount payable hereunder. In estimating the
Spread, appropriate adjustments to give effect to the existence of the Incentives shall be made, such as deeming the Incentives
to have been exercised, with the Company receiving the exercise price payable thereunder, and treating the shares receivable upon
exercise of the Incentives as being outstanding in determining the net amount per share. In cases where the proposed transaction
consists of the acquisition of assets of the Company, the net amount per share shall be calculated on the basis of the net amount
receivable with respect to shares of Common Stock upon a distribution and liquidation by the Company after giving effect to expenses
and charges, including but not limited to taxes, payable by the Company before such liquidation could be completed.

 

An
Award that by its terms would be fully vested or exercisable upon a Change in Control will be considered vested or exercisable
for purposes of Section 12.4(a) hereof.

 

Article
13.

LIQUIDATION OR DISSOLUTION

 

Subject
to Section 12.4 hereof, in case the Company shall, at any time while any Incentive under this Plan shall be in force and
remain unexpired, (a) sell all or substantially all of its property, or (b) dissolve, liquidate, or wind up its affairs, then
each Participant shall be entitled to receive, in lieu of each share of Common Stock of the Company which such Participant would
have been entitled to receive under the Incentive, the same kind and amount of any securities or assets as may be issuable, distributable,
or payable upon any such sale, dissolution, liquidation, or winding up with respect to each share of Common Stock of the Company.
If the Company shall, at any time prior to the expiration of any Incentive, make any partial distribution of its assets, in the
nature of a partial liquidation, whether payable in cash or in kind (but excluding the distribution of a cash dividend payable
out of earned surplus and designated as such) and an adjustment is determined by the Committee to be appropriate to prevent the
dilution of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall, in such
manner as it may deem equitable, make such adjustment in accordance with the provisions of Article 11 hereof.

 

Article
14.

INCENTIVES IN SUBSTITUTION FOR

INCENTIVES GRANTED BY OTHER ENTITIES

 

Incentives
may be granted under the Plan from time to time in substitution for similar instruments held by employees, independent contractors
or directors of a corporation, partnership, or limited liability company who become or are about to become Employees, Contractors
or Outside Directors of the Company or any Subsidiary as a result of a merger or consolidation of the employing corporation with
the Company, the acquisition by the Company of equity of the employing entity, or any other similar transaction pursuant to which
the Company becomes the successor employer. The terms and conditions of the substitute Incentives so granted may vary from the
terms and conditions set forth in this Plan to such extent as the Committee at the time of grant may deem appropriate to conform,
in whole or in part, to the provisions of the incentives in substitution for which they are granted.

 

    
	 

     

    

 

Article
15.

MISCELLANEOUS PROVISIONS

 

15.1
Investment Intent. The Company may require that there be presented to and filed with it by any Participant under the Plan,
such evidence as it may deem necessary to establish that the Incentives granted or the shares of Common Stock to be purchased
or transferred are being acquired for investment and not with a view to their distribution.

 

15.2
No Right to Continued Employment. Neither the Plan nor any Incentive granted under the Plan shall confer upon any Participant
any right with respect to continuance of employment by the Company or any Subsidiary.

 

15.3
Indemnification of Board and Committee. No member of the Board or the Committee, nor any officer or Employee of the Company
acting on behalf of the Board or the Committee, shall be personally liable for any action, determination, or interpretation taken
or made in good faith with respect to the Plan, and all members of the Board and the Committee, each officer of the Company, and
each Employee of the Company acting on behalf of the Board or the Committee shall, to the extent permitted by law, be fully indemnified
and protected by the Company in respect of any such action, determination, or interpretation to the fullest extent provided by
law. Except to the extent required by any unwaiveable requirement under applicable law, no member of the Board or the Committee
(and no Subsidiary of the Company) shall have any duties or liabilities, including without limitation any fiduciary duties, to
any Participant (or any Person claiming by and through any Participant) as a result of this Plan, any Award Agreement or any Claim
arising hereunder and, to the fullest extent permitted under applicable law, each Participant (as consideration for receiving
and accepting an Award Agreement) irrevocably waives and releases any right or opportunity such Participant might have to assert
(or participate or cooperate in) any Claim against any member of the Board or the Committee and any Subsidiary of the Company
arising out of this Plan.

 

15.4
Effect of the Plan. Neither the adoption of this Plan nor any action of the Board or the Committee shall be deemed to give
any person any right to be granted an Award or any other rights except as may be evidenced by an Award Agreement, or any amendment
thereto, duly authorized by the Committee and executed on behalf of the Company, and then only to the extent and upon the terms
and conditions expressly set forth therein.

 

15.5
Compliance with Other Laws and Regulations. Notwithstanding anything contained herein to the contrary, the Company shall not
be required to sell or issue shares of Common Stock under any Incentive if the issuance thereof would constitute a violation by
the Participant or the Company of any provisions of any law or regulation of any governmental authority or any national securities
exchange or inter-dealer quotation system or other forum in which shares of Common Stock are quoted or traded (including without
limitation Section 16 of the Exchange Act); and, as a condition of any sale or issuance of shares of Common Stock under an Incentive,
the Committee may require such agreements or undertakings, if any, as the Committee may deem necessary or advisable to assure
compliance with any such law or regulation. The Plan, the grant and exercise of Incentives hereunder, and the obligation of the
Company to sell and deliver shares of Common Stock, shall be subject to all applicable federal and state laws, rules and regulations
and to such approvals by any government or regulatory agency as may be required.

 

15.6
Tax Requirements. The Company or, if applicable, any Subsidiary (for purposes of this Section 15.6, the term “Company”
shall be deemed to include any applicable Subsidiary), shall have the right to deduct from all amounts paid in cash or other form
in connection with the Plan, any federal, state, local, or other taxes required by law to be withheld in connection with an Award
granted under this Plan. The Company may, in its sole discretion, also require the Participant receiving shares of Common Stock
issued under the Plan to pay the Company the amount of any taxes that the Company is required to withhold in connection with the
Participant’s income arising with respect to the Award. Such payments shall be required to be made when requested by the
Company and may be required to be made prior to the delivery of any certificate representing shares of Common Stock. Such payment
may be made by (a) the delivery of cash to the Company in an amount that equals or exceeds (to avoid the issuance of fractional
shares under (c) below) the required tax withholding obligations of the Company; (b) if the Company, in its sole discretion, so
consents in writing, the actual delivery by the exercising Participant to the Company of shares of Common Stock that the Participant
has not acquired from the Company within six (6) months prior to the date of exercise, which shares so delivered have an aggregate
Fair Market Value that equals or exceeds (to avoid the issuance of fractional shares under (c) below) the required tax withholding
payment; (c) if the Company, in its sole discretion, so consents in writing, the Company’s withholding of a number of shares
to be delivered upon the exercise of the Stock Option, which shares so withheld have an aggregate fair market value that equals
(but does not exceed) the required tax withholding payment; or (d) any combination of (a), (b), or (c). The Company may, in its
sole discretion, withhold any such taxes from any other cash remuneration otherwise paid by the Company to the Participant. The
Committee may in the Award Agreement impose any additional tax requirements or provisions that the Committee deems necessary or
desirable.

 

    
	 

     

    

 

15.7
Assignability. Incentive Stock Options may not be transferred, assigned, pledged, hypothecated or otherwise conveyed or encumbered
other than by will or the laws of descent and distribution and may be exercised during the lifetime of the Participant only by
the Participant or the Participant’s legally authorized representative, and each Award Agreement in respect of an Incentive
Stock Option shall so provide. The designation by a Participant of a beneficiary will not constitute a transfer of the Stock Option.
The Committee may waive or modify any limitation contained in the preceding sentences of this Section 15.7 that is not
required for compliance with Section 422 of the Code.

 

Except
as otherwise provided herein, Awards may not be transferred, assigned, pledged, hypothecated or otherwise conveyed or encumbered
other than by will or the laws of descent and distribution. Notwithstanding the foregoing, the Committee may, in its discretion,
authorize all or a portion of a Nonqualified Stock Option or SAR to be granted to a Participant on terms which permit transfer
by such Participant to (a) the spouse (or former spouse), children or grandchildren of the Participant (“Immediate
Family Members”), (b) a trust or trusts for the exclusive benefit of such Immediate Family Members, (c) a partnership
in which the only partners are (1) such Immediate Family Members and/or (2) entities which are controlled by the Participant and/or
Immediate Family Members, (d) an entity exempt from federal income tax pursuant to Section 501(c)(3) of the Code or any successor
provision, or (e) a split interest trust or pooled income fund described in Section 2522(c)(2) of the Code or any successor provision,
provided that (x) there shall be no consideration for any such transfer, (y) the Award Agreement pursuant to which such
Nonqualified Stock Option or SAR is granted must be approved by the Committee and must expressly provide for transferability in
a manner consistent with this Section, and (z) subsequent transfers of transferred Nonqualified Stock Options or SARs shall be
prohibited except those by will or the laws of descent and distribution.

 

Following
any transfer, any such Nonqualified Stock Option and SAR shall continue to be subject to the same terms and conditions as were
applicable immediately prior to transfer, provided that for purposes of Articles 8, 9, 11, 13 and 15 hereof the term “Participant”
shall be deemed to include the transferee. The events of Termination of Service shall continue to be applied with respect to the
original Participant, following which the Nonqualified Stock Options and SARs shall be exercisable or convertible by the transferee
only to the extent and for the periods specified in the Award Agreement. The Committee and the Company shall have no obligation
to inform any transferee of a Nonqualified Stock Option or SAR of any expiration, termination, lapse or acceleration of such Stock
Option or SAR. The Company shall have no obligation to register with any federal or state securities commission or agency any
Common Stock issuable or issued under a Nonqualified Stock Option or SAR that has been transferred by a Participant under this
Section 15.7.

 

15.8
Use of Proceeds. Proceeds from the sale of shares of Common Stock pursuant to Incentives granted under this Plan shall constitute
general funds of the Company.

 

15.9
Legend. Each certificate representing shares of Restricted Stock issued to a Participant shall bear the following legend,
or a similar legend deemed by the Company to constitute an appropriate notice of the provisions hereof (any such certificate not
having such legend shall be surrendered upon demand by the Company and so endorsed):

 

On
the face of the certificate:

 

“Transfer
of this stock is restricted in accordance with conditions printed on the reverse of this certificate.”

 

On
the reverse:

 

“The
shares of stock evidenced by this certificate are subject to and transferable only in accordance with that certain Enveric Biosciences,
Inc. 2020 Long-Term Incentive Plan, a copy of which is on file at the principal office of the Company in Naples, Florida. No transfer
or pledge of the shares evidenced hereby may be made except in accordance with and subject to the provisions of said Plan. By
acceptance of this certificate, any holder, transferee or pledgee hereof agrees to be bound by all of the provisions of said Plan.”

 

    
	 

     

    

 

The
following legend shall be inserted on a certificate evidencing Common Stock issued under the Plan if the shares were not issued
in a transaction registered under the applicable federal and state securities laws:

 

“Shares
of stock represented by this certificate have been acquired by the holder for investment and not for resale, transfer or distribution,
have been issued pursuant to exemptions from the registration requirements of applicable state and federal securities laws, and
may not be offered for sale, sold or transferred other than pursuant to effective registration under such laws, or in transactions
otherwise in compliance with such laws, and upon evidence satisfactory to the Company of compliance with such laws, as to which
the Company may rely upon an opinion of counsel satisfactory to the Company.”

 

15.10
Governing Law. The Plan shall be governed by, construed, and enforced in accordance with the laws of the State of Delaware
(excluding any conflict of laws, rule or principle of Delaware law that might refer the governance, construction, or interpretation
of this Plan to the laws of another state). A Participant’s sole remedy for any Claim shall be against the Company, and
no Participant shall have any claim or right of any nature against any Subsidiary of the Company or any stockholder or existing
or former director, officer or Employee of the Company or any Subsidiary of the Company. The individuals and entities described
above in this Section 15.10 (other than the Company) shall be third-party beneficiaries of this Plan for purposes of enforcing
the terms of this Section 15.10.

 

A
copy of this Plan shall be kept on file in the principal office of the Company in Naples, Florida.

 

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

 

    
	 

     

    

 

IN
WITNESS WHEREOF, the Company has caused this instrument to be executed as of December 30, 2020, by its Chief Executive Officer
pursuant to prior action taken by the Board.

 

	 	ENVERIC
    BIOSCIENCES, INC.
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	Chief
    Executive Officer

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