Document:

Exhibit 10.2

 

NEITHER THIS WARRANT NOR ANY
OF THE SECURITIES ISSUABLE HEREUNDER HAVE BEEN REGISTERED UNDER THE SECURITIES ACT (AS DEFINED BELOW), OR APPLICABLE STATE SECURITIES
LAWS, AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION
STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT, OR (B) AN OPINION OF COUNSEL, IN A GENERALLY ACCEPTABLE FORM, THAT
REGISTRATION IS NOT REQUIRED UNDER SAID ACT (II) UNLESS SOLD OR TRANSFERRED TO A “QUALIFIED INSTITUTIONAL BUYER” WITHIN
THE MEANING OF RULE 144A UNDER THE SECURITIES ACT OR (III) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. 

ECOARK HOLDINGS, INC.

COMMON STOCK PURCHASE WARRANT

No. ________   Issue Date: __________,
2016

THIS CERTIFIES THAT, for value
received, the Holder is entitled to purchase, and ECOARK HOLDINGS, INC., a Nevada corporation (the “Company”),
promises and agrees to sell and issue to the Holder, at any time, or from time to time, during the Exercise Period, up to ___________
shares of Common Stock, par value $0.001 per share (the “Common Stock”), of the Company, at the Exercise Price,
subject to the provisions and limitations and upon the terms and conditions hereinafter set forth. This Warrant is issued by the
Company pursuant to that certain Subscription Agreement dated as of _______, 2016 (the “Subscription Agreement”).

1. Definitions of Certain Terms. Capitalized
terms used and not otherwise defined herein shall have the meanings set forth in the Exchange Agreement. In addition to the terms
defined elsewhere in this Warrant, the following terms have the following meanings:

(a) “Business Day”
means a day on which banks are open for business in the city of New York.

(b) “Commission”
means the U.S. Securities and Exchange Commission.

(c) “Exchange Act”
means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

(d) “Exercise Price”
means the price at which the Holder may purchase one share of Common Stock upon exercise of this Warrant as determined from time
to time pursuant to the provisions hereof. The initial Exercise Price is $5.00 per share, subject to adjustment as provided herein.

(e) “Expiration Date”
means December 31, 2018.

(f) “Holder”
means a record holder of the Warrant.

(g) “Securities Act”
means the Securities Act of 1933, as amended.

(h) “Warrant”
means this Common Stock purchase warrant and any warrant or warrants hereafter issued as a consequence of the exercise or transfer
of this warrant in whole or in part.

2. Exercise of Warrant.

(a) Manner of Exercise.

(i) This Warrant may be exercised,
in whole or in part, at any time or from time to time, during the period from the Issue Date until 5:30 p.m., New York time, on
the Expiration Date (the “Exercise Period”), for ________ fully paid and non-assessable shares of Common
Stock (the “Warrant Shares”), for an exercise price per share equal to the Exercise Price, by delivery to the
Company at its headquarters, or at such other place as is designated in writing by the Company, of:

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(1) a duly executed Notice of
Exercise, substantially in the form of Attachment I attached hereto and incorporated by reference herein;

(2) this Warrant; and

(3) payment of an amount in
cash equal to the product of the Exercise Price multiplied by the number of Warrant Shares being purchased upon such exercise,
with such payment being in the form of a wire transfer of immediately available U.S. funds to an account designated in writing
by the Company.

The date on which the Company
receives the Notice of Exercise, this Warrant, and the Exercise Price payable with respect to the Warrant Shares being purchased
shall be deemed to be the date of exercise (the “Date of Exercise”).

(b) Company Warrant Call.
Commencing on Issue Date, the Company shall have the right, subject to satisfaction of the conditions in this Section 2(b),
to cause the exercise of this Warrant (“Mandatory Exercise”). If the Company elects to require the Mandatory
Exercise of this Warrant, the Company shall deliver prior written notice to the Holder at least ten (10) business days (“Mandatory
Exercise Notice”) prior to the effective date (“Mandatory Exercise Effective Date”) of such Mandatory
Exercise. In order to effectuate a Mandatory Exercise, the closing price, for the sixty (60) consecutive Trading Days prior
to the date of the Mandatory Exercise Notice, shall be equal to or in excess of $7.50 (as adjusted for stock splits, stock combinations
and the like occurring from and after the Issue Date). If the Company elects to require the Mandatory Exercise of this Warrant,
then the Holder must exercise all, but not less than all, of this Warrant for all of the then-remaining Warrant Shares for cash
as further set forth herein. In the event that the holder does not exercise the Warrant, the holder shall forfeit any rights under
the Warrant, including the right to exercise the Warrant to the extent not previously exercised and the Warrant shall be treated
as canceled for all purposes.

(c) Delivery of Certificates.
Certificates for Warrant Shares purchased hereunder shall be transmitted by the transfer agent of the Company to the Holder by
crediting the account of the Holder’s prime broker with the Depository Trust Company (“DTC”) through its
Deposit Withdrawal Agent Commission system if the Company is a participant in such system and such Warrant Shares are eligible
for delivery in such a manner, and otherwise by physical delivery to the address specified by the Holder in the Notice of Exercise
within three Business Days from the delivery to the Company of the Notice of Exercise, surrender of this Warrant and payment of
the aggregate Exercise Price as set forth above (the “Delivery Period”). This Warrant shall be deemed to have
been exercised on the date on which this Warrant is surrendered and payment of the Exercise Price is received by the Company. The
Warrant Shares shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed
to have become a holder of record of such shares for all purposes, as of the date on which all of the criteria described in the
immediately preceding sentence have occurred, irrespective of the date of delivery of such certificate or certificates, except
that, if the date of such surrender and payment is a date when the stock transfer books of the Company are closed, such person
shall be deemed to have become the holder of such shares at the close of business on the next succeeding date on which the stock
transfer books are open. If fewer than all of the Warrant Shares purchasable under the Warrant are purchased, the Company will,
upon such partial exercise, execute and deliver to the Holder a new Warrant (dated as of the Issue Date), in the same form and
tenor as this Warrant, evidencing that portion of the Warrant not exercised.

(d) No Fractional Shares.
If a fractional share of Warrant Shares would, but for the provisions of this Section 2(d), be issuable upon exercise
of the rights represented by this Warrant, the Company shall round a fractional share to be delivered to Holder up to the next
whole share.

3. Adjustments in Certain Events. The number,
class, and price of Warrant Shares for which this Warrant may be exercised are subject to adjustment from time to time upon the
happening of certain events as follows:

(a) Subdivisions, Combinations
and Other Issuances. If the outstanding shares of the Company’s Common Stock are divided into a greater number of shares,
by forward stock split or otherwise, or a dividend in stock is paid on the Common Stock, then the number of shares of Warrant Shares
for which the Warrant is then exercisable will be proportionately increased and the Exercise Price will be proportionately reduced.
Conversely, if the outstanding shares of Common Stock are combined into a smaller number of shares of Common Stock, by reverse
stock split or otherwise, then the number of Warrant Shares for which the Warrant is then exercisable will be proportionately reduced
and the Exercise Price will be proportionately increased. The increases and reductions provided for in this Section 3(a)
will be made with the intent and, as nearly as practicable, the effect that neither the percentage of the total equity of the Company
obtainable on exercise of the Warrants nor the price payable for such percentage upon such exercise will be affected by any event
described in this Section 3(a).

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(b) Merger, Consolidation,
Reclassification, Reorganization, Etc. In case of any change in the Common Stock through merger, consolidation, reclassification,
reorganization, partial or complete liquidation, purchase of all or substantially all the assets of the Company, or other change
in the capital structure of the Company, then, as a condition of such change, lawful and adequate provision will be made so that
the Holder will have the right thereafter to receive upon the exercise of the Warrant the kind and amount of shares of stock or
other securities or property to which he would have been entitled if, immediately prior to such event, he had held the number of
Warrant Shares obtainable upon the exercise of the Warrant. In any such case, appropriate adjustment will be made in the application
of the provisions set forth herein with respect to the rights and interest thereafter of the Holder, to the end that the provisions
set forth herein will thereafter be applicable, as nearly as reasonably may be, in relation to any shares of stock or other property
thereafter deliverable upon the exercise of the Warrant. The Company will not permit any change in its capital structure to occur
unless the issuer of the shares of stock or other securities to be received by the Holder, if not the Company, agrees to be bound
by and comply with the provisions of this Warrant.

(c) If securities of the Company
or securities of any subsidiary of the Company are distributed pro rata to holders of Common Stock, such number of securities will
be distributed to the Holder or its assignee upon exercise of its rights hereunder as such Holder or assignee would have been entitled
to if this Warrant had been exercised prior to the record date for such distribution.

4. No Rights as a Stockholder. Nothing contained
in this Agreement shall be construed as conferring upon the Holder any rights whatsoever as a stockholder of the Company, either
at law or in equity, including without limitation, or Holders the right to vote or to consent or to receive notice as a stockholder
in respect of any meetings of stockholders for the election of directors the right to receive dividends or any other matter.

5. Restrictions on Transfer; Legends.

(a) Registration or Exemption
Required. Assuming the accuracy of the representations and warranties of the Holder contained in herein, this Warrant has been
issued in a transaction exempt from the registration requirements of the Securities Act by virtue of Section 4(a)(2) of the
Securities Act and Regulation D promulgated thereunder and exempt from state registration or qualification under applicable state
laws. The Holder acknowledges that he has been advised by the Company that this Warrant and the Warrant Shares issuable upon exercise
thereof have not been registered under the Securities Act. Neither this Warrant nor the Warrant Shares may be pledged, transferred,
sold or assigned except pursuant to an effective registration statement or an exemption to the registration requirements of the
Securities Act and applicable state laws. If, at the time of the surrender of this Warrant in connection with any transfer of this
Warrant, the transfer of this Warrant shall not be registered pursuant to an effective registration statement under the Securities
Act and under applicable state securities or blue sky laws, the Company may require, as a condition of allowing such transfer (i) that
the Holder or transferee of this Warrant, as the case may be, furnish to the Company a written opinion of counsel (which opinion
shall be in form, substance and scope customary for opinions of counsel in comparable transactions) to the effect that such transfer
may be made without registration under the Securities Act and under applicable state securities or blue sky laws, (ii) that
the holder or transferee execute and deliver to the Company an investment letter in form and substance acceptable to the Company
and (iii) that the transferee be an “accredited investor” as defined in Rule 501(a) promulgated under the Securities
Act or a “qualified institutional buyer” as defined in Rule 144A(a) under the Securities Act.

(b) Representations of Holder.
The Holder represents and warrants that he has acquired this Warrant and will acquire the Warrant Shares for his own account for
investment and not with a view to the sale or distribution thereof or the granting of any participation therein, and that he has
no present intention of distributing or selling to others any of such interest or granting any participation therein. The Holder
acknowledges that the Warrant and Warrant Shares must be held indefinitely unless a subsequent disposition thereof is registered
under the Securities Act or registered or qualified under any applicable state securities or “blue-sky” laws or is
exempt from registration and/or qualification. The Holder has no need for liquidity in its investment in the Company, and is able
to bear the economic risk of such investment for an indefinite period and to afford a complete loss thereof. The Holder is an “accredited
investor” as such term is defined in Rule 501 (the provisions of which are known to the Holder) promulgated under the Securities
Act.

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(c) Restrictive Legend.
The Holder understands that until such time as the Warrant Shares have been registered under the Securities Act, or otherwise may
be sold pursuant to Rule 144 under the Securities Act or an exemption from registration under the Securities Act without any restriction
as to the number of securities as of a particular date that can then be immediately sold, this Warrant and the Warrant Shares,
as applicable, shall bear a restrictive legend in substantially the form set forth on the cover page of this Warrant (and a stop-transfer
order may be placed against transfer of the certificates for such securities in accordance with the applicable provisions of the
Exchange Agreement).

(d) Disposition of Warrant
or Warrant Shares. With respect to any offer, sale or other disposition of this Warrant or any Warrant Shares prior to
registration of such Warrant Shares, the Holder agrees to give written notice to the Company prior thereto, describing briefly
the manner thereof, together with evidence, reasonably satisfactory to the Company (which shall include such representation of
the transferee regarding investment intent as the Company may request, to the effect that such offer, sale or other disposition
may be effected without registration or qualification (under the Securities Act as then in effect or any federal or state securities
law then in effect) of this Warrant or such Warrant Shares and indicating whether or not under the Securities Act certificates
for this Warrant or Warrant Shares to be sold or otherwise disposed of require any restrictive legend as to applicable restrictions
on transferability in order to ensure compliance with such law. Upon receiving such written notice and reasonably satisfactory
evidence, the Company, as promptly as practicable but no later than three (3) days after receipt of the written notice, shall
notify the Holder that the Holder may sell or otherwise dispose of this Warrant or Warrant Shares, all in accordance with the terms
of the notice delivered to the Company. If the Company determines that the evidence is not reasonably satisfactory to the
Company, the Company shall so notify the Holder promptly with details thereof after such determination has been made. Notwithstanding
the foregoing, any Warrant Shares may be offered, sold or otherwise disposed of in accordance with Rule 144 under the Act
and in compliance with the applicable statutory resale restrictions imposed by state securities laws, provided that the Company
shall have been furnished with such information as the Company may reasonably request to provide a reasonable assurance that the
provisions of Rule 144 and the applicable resale restrictions imposed by state securities laws have been satisfied. Each
certificate representing this Warrant or the Warrant Shares thus transferred shall bear a legend as to the applicable restrictions
on transferability in order to ensure compliance with such laws, unless pursuant to an opinion of counsel for the Holder, such
legend is not required in order to ensure compliance with such laws. The Company may issue stop transfer instructions to its
transfer agent in connection with such restrictions.

(e) Removal of Restrictive
Legends. The certificates evidencing the Warrant Shares shall not contain any legend restricting the transfer thereof: (A) while
a registration statement covering the sale or resale of the Warrant Shares is effective under the Securities Act and such legend
removal is permitted under applicable securities laws (including compliance with the prospectus delivery requirements of the Securities
Act), or (B) following any sale of such Warrant Shares pursuant to Rule 144, or (C) if such Warrant Shares are eligible
for sale under Rule 144(b)(1), or (D) if such legend is not required under applicable requirements of the Securities Act (including
judicial interpretations and pronouncements issued by the staff of the Commission) and the Company shall have received an opinion
of counsel to the Holder in form reasonably acceptable to the Company to such effect (collectively, the “Unrestricted
Conditions”). The Company shall cause its counsel to issue a legal opinion to its transfer agent if required by the transfer
agent to effect the issuance of the Warrant Shares, as applicable, without a restrictive legend or removal of the legend hereunder.
The Company agrees that at such time as the Unrestricted Conditions are met, it will, no later than three (3) Trading Days
following the delivery by the Holder to the Company or the transfer agent of a certificate representing Warrant Shares, issued
with a restrictive legend, deliver or cause to be delivered to such Holder a certificate (or electronic transfer) representing
such Warrant Shares that is free from all restrictive and other legends.

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(f) Notwithstanding anything
else herein, the Holder agrees that provided that the Company enters into the Definitive Agreement and consummates the initial
closing as contemplated by such Definitive Agreement, then prior to the date that is the three (3) year anniversary date of
the initial closing under such Definitive Agreement, the Holder shall not, to its knowledge, transfer all or any portion of this
Warrant or any of the Warrant Shares to any other person or entity, which person or entity is either (i) the beneficial holder
of more than 4.99% of the Common Stock of the Company or (ii) would become, by reason of such transfer, the beneficial holder
of more than 4.99% of the Common Stock of the Company.

6. Notices; Adjustments. All notices required
or permitted hereunder shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party
to be notified; (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient,
and if not, then on the next business day; (iii) two (2) Business Days after having been sent by registered or certified
mail, return receipt requested, postage prepaid; or (iv) one (1) Business Day after deposit with a nationally recognized
overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the
Company or to Holder, as applicable, at the respective addresses set forth on the signature page to the Exchange Agreement or at
such other address(es) as they may designate, respectively, by ten (10) days advance written notice to the other party hereto.

7. Non-Circumvention. The Company hereby covenants
and agrees that the Company will not, by amendment of its certificate of incorporation, bylaws or through any reorganization, transfer
of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities, or any other action, avoid or
seek to avoid the observance or performance of any of the terms of this Warrant, and will at all times in good faith carry out
all the provisions of this Warrant and take all action as may be reasonably required to protect the rights of the Holder.

8. Governing Law. This Warrant shall be governed
by and construed in accordance with the laws of the State of Arkansas, without regard to conflict of law principles, and notwithstanding
the fact that one or more counterparts hereof may be executed outside of the state, or one or more of the obligations of the parties
hereunder are to be performed outside of the state.

9. Loss, Theft, Destruction or Mutilation of Warrant.
Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant,
and, in the case of loss, theft, or destruction, of indemnity reasonably satisfactory to it, and, if mutilated, upon surrender
and cancellation of this Warrant, the Company will execute and deliver a new Warrant, having terms and conditions identical to
this Warrant, in lieu hereof.

10. Modification and Waiver of Warrants. This
Warrant may only be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.
No waivers of any term, condition or provision of this Warrant, in any one or more instances, shall be deemed to be, or construed
as, a further or continuing waiver of any such term, condition or provision.

11. Successors. This Warrant shall be binding
and inure to the benefit of the parties and their respective successors and assigns hereunder; provided that this Warrant may be
assigned by Holder only in compliance with the conditions specified in and in accordance with all of the terms of this Warrant.
This Warrant does not create and shall not be construed as creating any rights enforceable by any other person or corporation.

12. Headings. The headings used in this Warrant
are used for convenience only and are not to be considered in construing or interpreting this Warrant.

13. Saturdays, Sundays, Holidays. If the last
or appointed day for the taking of any action or the expiration of any right required or granted herein shall be a Saturday or
a Sunday or shall be a legal holiday in the State of New York, then such action may be taken or such right may be exercised
on the next succeeding day not a legal holiday.

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14. Severability. If any provision of this
Warrant shall be held to be invalid or unenforceable, such invalidity or unenforceability shall not affect any other provisions
of this Warrant.

15. Execution and Counterparts. This Warrant
may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, and such
counterparts together shall constitute only one instrument. Any one of such counterparts shall be sufficient for the purpose of
proving the existence and terms of this Warrant, and no party shall be required to produce an original or all of such counterparts
in making such proof.

16. Acceptance. Receipt of this Warrant by
the Holder shall constitute acceptance of and agreement to all of the terms and conditions contained herein.

IN WITNESS WHEREOF, the Company
has caused this Warrant to be executed and delivered as of the Issue Date by an officer thereunto duly authorized.

 

	 	 	 
	ECOARK HOLDINGS, INC.
	 	 
	By:	 	
 

	Name:	 	 
	Title:	 	 
	 
	Address for Notice:
	 
	3333 Pinnacle Hills Parkway I Suite 220
	Rogers, AR 72758

 

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ATTACHMENT I 

NOTICE OF EXERCISE 

 

	TO:	ECOARK HOLDINGS, INC. 

Attention: Chief Financial Officer

 

The undersigned hereby elects to purchase,
pursuant to the provisions of the Common Stock Warrant issued by ECOARK HOLDINGS, INC. as of             ,
2016, and held by the undersigned, the original of which is attached hereto, and (check the applicable box):

 

		Tenders herewith payment of the Exercise Price in the form of cash, via wire transfer of immediately available funds, in the amount of $         for                  shares of Common Stock. 

 

		If this box is checked, as long as the Company’s transfer agent participates in the DTC Fast Automated Securities Transfer program (“FAST”), and except as otherwise provided in the next following sentence, the Company shall effect delivery of the shares of Common Stock to the Holder by crediting to the account of the Holder or its nominee at DTC (as specified in this Exercise Notice) with the number of shares of Common Stock required to be delivered. In the event that the Company’s transfer agent is not a participant in FAST, or if the shares of Common Stock are not otherwise eligible for delivery through FAST, the Company shall effect delivery of the shares of Common Stock by delivering to Holder or its nominee physical certificates representing such shares. 

Information for Delivery of uncertificated Shares by DWAC:

 

	Account Number:	 	
 

	Account Name:	 	
 

	DTC Number:	 	
 

 

      If this box is
checked, the Holder requests delivery of physical certificates representing the Warrant Shares and requests that such certificates
be delivered to the following address:

 

Name:   

  

Address:   

Tax I.D. No. or Social Security No.:   

 

If such number of shares shall not be
all the shares purchasable upon the exercise of the Warrants evidenced by this Warrant, a new warrant certificate for the balance
of such Warrants remaining unexercised shall be registered in the name of and delivered to:

 

Name:   

  

Address:   

Tax I.D. No. or Social Security No.:   

	 	 	 
	HOLDER:
	 
	
 

	Name:	 	 
	Title:	 	 
	Date:                     

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ATTACHMENT II 

[FORM OF ASSIGNMENT]

(To be executed by the registered holder
if such holder

desires to transfer the Warrant
Certificate.)

FOR VALUE RECEIVED, the undersigned
Holder of this Warrant hereby sells, assigns and transfers the foregoing Warrant and all rights evidenced thereby to

 

	 	 	 	 	 
	Name:	 	 	 	
 

	 	 	 	 	 
	 	 	 
	Address:	 	 	 	
 

	 	 	 	 	 
	Tax ID No.:	 	 	 	
 

and does hereby irrevocably constitute and appoint
                                         ,
Attorney, to transfer the within Warrant Certificate on the books of Ecoark Holdings, Inc., with full power of substitution.

NOTE: The signature to this Assignment Form must correspond
with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatever. Officers of corporations
and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing
Warrant.

 

	Dated:   	 	Holder: 
	 	 	 
	 	 	 
	 	 	 
	 	 	(Signature)

 

	 	 	 	 	 	 	 	 	 
	STATE OF                     	 	)	 	 	 	 	 	 
	COUNTY OF                     	 	)	 	 	 	 	 	 

 

On this     
day of                     ,
before me personally came                     ,
to me known, who being by me duly sworn, did depose and say that he resides at                 
                    , that
he is the holder of the foregoing instrument and that he executed such instrument and duly acknowledged to me that he executed
the same.

	 
	
 

	Notary Public

 

    	B-8Exhibit

    
E*TRADE FINANCIAL CORPORATION
RESTRICTED STOCK AGREEMENT

E*TRADE Financial Corporation has granted to the Participant named in the Notice of Grant of Restricted Stock (the “Grant Notice”) to which this Restricted Stock Agreement (the “Agreement”) is attached an Award consisting of Shares subject to the terms and conditions set forth in the Grant Notice and this Agreement.  The Award has been granted pursuant to the E*TRADE Financial Corporation 2015 Omnibus Incentive Plan (as amended from time to time, the “Plan”), the provisions of which are incorporated herein by reference.  By signing the Grant Notice, the Participant: (a) acknowledges receipt of and represents that the Participant has read and is familiar with the Grant Notice, this Agreement, the Plan and a prospectus for the Plan (the “Plan Prospectus”), (b) accepts the Award subject to all of the terms and conditions of the Grant Notice, this Agreement and the Plan and (c) agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions arising under the Grant Notice, this Agreement or the Plan.

1.Definitions and Construction.
1.1Definitions.  Unless otherwise defined herein, capitalized terms shall have the meanings assigned to such terms in the Grant Notice or the Plan.
1.2Construction.  Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of this Agreement.  Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular.  Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise.
2.Administration.
2.1Committee Authority.  All questions of interpretation concerning the Grant Notice and this Agreement shall be determined by the “Committee” (as defined below).  All determinations by the Committee shall be final and binding upon all persons having an interest in this Agreement or the Award, including the Participant.  Any Officer of a Participating Company shall have the authority to act on behalf of the Company with respect to any matter, right, obligation, or election which is the responsibility of or which is allocated to the Company herein, provided the Officer has apparent authority with respect to such matter, right, obligation, or election.
2.2Definition of Committee.  For purposes of this Agreement, the “Committee” means the Compensation Committee, the Governance Committee or other committee of the Board duly appointed to administer the Plan and having such powers as shall be specified by the Board; provided that if no committee of the Board has been appointed to administer the Plan, the Board shall exercise all of the powers of the Committee granted herein, and, in any event, the Board may in its discretion exercise any or all of such powers.
3.The Award.
3.1Grant and Issuance of Shares.  On the Date of Grant, the Participant shall acquire and the Company shall issue, subject to the provisions of this Agreement, a number of Shares equal to the Total Number of Shares set forth in the Grant Notice.  As a condition to the issuance of the Shares, the Participant shall execute and deliver to the Company, along with the Grant Notice, the Joint Escrow Instructions in the form attached to the Grant Notice.
3.2No Monetary Payment Required.  The Participant is not required to make any monetary payment (other than applicable tax withholding, if any) as a condition to receiving the Shares, the consideration for which shall be past services actually rendered and/or future services to be rendered to a Participating Company or for its benefit.  Notwithstanding the foregoing, if required by applicable state corporate law, the Participant shall furnish consideration in the form of cash or past services rendered 

to a Participating Company or for its benefit having a value not less than the par value of the shares of Stock issued upon settlement of the Award.
3.3Beneficial Ownership of Shares; Certificate Registration.  The Participant hereby authorizes the Company, in its sole discretion, to deposit the Shares with the Company’s transfer agent, including any successor transfer agent, to be held in book entry form during the term of the Escrow pursuant to Section 6.  Except as provided by the preceding sentence, a certificate for the Shares shall be registered in the name of the Participant, or, if applicable, in the names of the heirs of the Participant.
3.4Issuance of Shares in Compliance with Law.  The issuance of the Shares shall be subject to compliance with all applicable requirements of federal, state or foreign law with respect to such securities.  No Shares shall be issued hereunder if their issuance would constitute a violation of any applicable federal, state or foreign securities laws or other law or regulations or the requirements of any stock exchange or market system upon which the Stock may then be listed.  The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary to the lawful issuance of any Shares shall relieve the Company of any liability in respect of the failure to issue such Shares as to which such requisite authority shall not have been obtained.  As a condition to the issuance of the Shares, the Company may require the Participant to satisfy any qualifications that may be necessary or appropriate, to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect thereto as may be requested by the Company.
4.Vesting of Shares.
4.1Normal Vesting.  Except as provided in Section 4.2 and Section 4.3, the Shares shall vest and become Vested Shares as provided in the Grant Notice subject to the Participant’s continued Service through such date; provided however, that Shares that would otherwise become Vested Shares on a date on which a sale of such Shares by the Participant would violate the Insider Trading Policy of the Company shall, not withstanding the vesting schedule set forth in the Grant Notice, become Vested Shares on the next day on which such sale would not violate the Insider Trading Policy.  For purposes of this Section, “Insider Trading Policy” means the written policy of the Company pertaining to the sale, transfer or other disposition of the Company’s equity securities by members of the Board, Officers or other employees who may possess material, non-public information regarding the Company, as in effect at the time of a disposition of any Shares.  
4.2Acceleration of Vesting Upon Death or Disability.  In the event of the Participant’s termination of Service due to the Participant’s death or Disability, the vesting of any outstanding but unvested Shares shall be accelerated in full and the total number of Shares granted hereunder shall be deemed to be Vested Shares effective as of the date of such termination of Service.
4.3Acceleration of Vesting Upon a Change in Control.  In the event of a Change in Control, the vesting of the Shares shall be accelerated in full and the Total Number of Shares shall be deemed Vested Shares effective as of the date of the Change in Control, provided that the Participant’s Service has not terminated prior to such date.
4.4Federal Excise Tax Under Section 4999 of the Code.
a.Excess Parachute Payment.  In the event that any acceleration of vesting pursuant to this Agreement and any other payment or benefit received or to be received by the Participant would subject the Participant to any excise tax pursuant to Section 4999 of the Code due to the characterization of such acceleration of vesting, payment or benefit as an excess parachute payment under Section 280G of the Code, the Participant may elect, in his or her sole discretion and in a manner that does not give rise to additional taxes or a tax penalty under Section 409A of the Code, to reduce the amount of any acceleration of vesting called for under this Agreement in order to avoid such characterization.
b.Determination by Independent Accountants.  To aid the Participant in making any election called for under Section 4.4(a), upon the occurrence of any event that might reasonably be anticipated to give rise to the acceleration of vesting under Section 4.2 (an “Event”), the 

Company shall promptly request a determination in writing by independent public accountants selected by the Company (the “Accountants”).  Unless the Company and the Participant otherwise agree in writing, the Accountants shall determine and report to the Company and the Participant within twenty (20) days of the date of the Event the amount of such acceleration of vesting, payments and benefits which would produce the greatest after-tax benefit to the Participant.  For the purposes of such determination, the Accountants may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code.  The Company and the Participant shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make their required determination.  The Company shall bear all fees and expenses the Accountants may reasonably charge in connection with their services contemplated by this Section.
5.Company Reacquisition Right.  
Except to the extent otherwise provided in this Agreement or an employment or services agreement between a Participating Company and the Participant, in the event that (a) the Participant’s Service terminates for any reason or no reason, with or without Cause, prior to the date on which the Shares become Vested Shares, or (b) the Participant, the Participant’s legal representative, or other holder of the Shares, attempts to sell, exchange, transfer, pledge, or otherwise dispose of, including, without limitation, any transfer to a nominee or agent of the Participant, any Shares which are not Vested Shares (“Unvested Shares”), the Company shall automatically reacquire the Unvested Shares, and the Participant shall not be entitled to any payment therefor (the “Company Reacquisition Right”).
6.Escrow.
6.1Establishment of Escrow.  To ensure that Shares subject to the Company Reacquisition Right will be available for reacquisition, the Participant agrees to deliver to and deposit with an escrow agent designated by the Company the certificate, and/or the electronic shares, as applicable, evidencing the Shares to be held by the agent under the terms and conditions of the Joint Escrow Instructions in the form attached to the Grant Notice (the “Escrow”).  Upon the occurrence of an event described in Section 8 that results in a change in the character or amount of any outstanding stock of the corporation, any and all new, substituted or additional securities or other property to which the Participant is entitled by reason of his or her ownership of the Shares that remain, following such change, subject to the Company Reacquisition Right shall be immediately subject to the Escrow to the same extent as the Shares immediately before such event.  The Company shall bear the expenses of the Escrow.
6.2Delivery of Shares to Participant.  Whenever the Participant or the Participant’s legal representative proposes to sell, exchange, transfer, pledge or otherwise dispose of any shares of Stock subject to the Escrow, the Participant shall so notify the Company.  As soon as practicable thereafter, the Company shall determine, in its sole discretion, whether such proposed disposition would not cause the Company to automatically reacquire such Shares pursuant to the Company Reacquisition Right.  If the condition set forth in the preceding sentence is satisfied, the Company shall, as soon as practicable, so notify the Participant and give to the escrow agent a written notice directing the escrow agent to deliver such Shares to the Participant.  As soon as practicable after receipt of such notice, the escrow agent shall deliver to the Participant the Shares specified in such notice, and the Escrow shall terminate with respect to such Shares.
7.Tax Matters.
7.1In General.  The Participant shall be solely responsible for the payment of any and all taxes that arise with respect to the Shares.  The Company shall not be required to withhold any amounts in respect of any such taxes.  The Participant acknowledges that the liability for all applicable taxes legally due by the Participant is and remains the Participant’s sole responsibility and that the Company (i) makes no representations or undertakings regarding the tax treatment in connection with any aspect of the Shares; and (ii) does not commit to structure the terms of the grant or any aspect of the Shares to reduce or eliminate Participant’s liability for applicable taxes.

7.2Election Under Section 83(b) of the Code.  The Participant understands that he or she should consult with his or her tax advisor regarding the advisability of filing with the Internal Revenue Service an election under Section 83(b) of the Code, which must be filed no later than thirty (30) days after the date of the acquisition of the Shares pursuant to this Agreement.  Failure to timely file an election under Section 83(b) may result in adverse tax consequences to the Participant.  The Participant acknowledges that he or she has been advised to consult with a tax advisor regarding the tax consequences to the Participant of the acquisition of Shares hereunder.  ANY ELECTION UNDER SECTION 83(b) THE PARTICIPANT WISHES TO MAKE MUST BE FILED NO LATER THAN 30 DAYS AFTER THE DATE ON WHICH THE PARTICIPANT ACQUIRES THE SHARES.  THIS TIME PERIOD CANNOT BE EXTENDED.  THE PARTICIPANT ACKNOWLEDGES THAT TIMELY FILING OF A SECTION 83(b) ELECTION IS THE PARTICIPANT’S SOLE RESPONSIBILITY, EVEN IF THE PARTICIPANT REQUESTS THE COMPANY OR ITS REPRESENTATIVE TO FILE SUCH ELECTION ON HIS OR HER BEHALF.
a.The Participant will promptly notify the Company in writing if the Participant files an election pursuant to Section 83(b) of the Code.  The Company intends, in the event it does not receive from the Participant evidence of such filing, to claim a tax deduction for any amount which would otherwise be taxable to the Participant in the absence of such an election.
8.Adjustments for Changes in Capital Structure.
Subject to any required action by the stockholders of the Company, in the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders of the Company in a form other than Stock (excepting normal cash dividends) that has a material effect on the Fair Market Value of shares of Stock, appropriate and proportionate adjustments shall be made in the number and kind of shares subject to the Award, in order to prevent dilution or enlargement of the Participant’s rights under the Award.  For purposes of the foregoing, conversion of any convertible securities of the Company shall not be treated as “effected without receipt of consideration by the Company.”  Any fractional share resulting from an adjustment pursuant to this Section shall be rounded down to the nearest whole number.  Such adjustments shall be determined by the Committee, and its determination shall be final, binding and conclusive.
9.Rights as a Stockholder and Service Provider.
The Participant shall have no rights as a stockholder with respect to any Shares subject to the Award until the date of the issuance of a certificate for such Shares (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company).  No adjustment shall be made for dividends, distributions or other rights for which the record date is prior to the date such certificate is issued, except as provided in Section 8.  Subject the provisions of this Agreement, the Participant shall exercise all rights and privileges of a stockholder of the Company with respect to Shares deposited in the Escrow pursuant to Section 6.  Nothing in this Agreement shall confer upon the Participant any right to continue in the Service of a Participating Company or interfere in any way with any right of a Participating Company to terminate the Participant’s Service at any time.
10.Legends.
The Company may at any time place legends referencing the Company Reacquisition Right and any applicable federal, state or foreign securities law restrictions on all certificates representing the Shares.  The Participant shall, at the request of the Company, promptly present to the Company any and all certificates representing the Shares in the possession of the Participant in order to carry out the 

provisions of this Section.  Unless otherwise specified by the Company, legends placed on such certificates may include, but shall not be limited to, the following:
“THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS SET FORTH IN AN AGREEMENT BETWEEN THIS CORPORATION AND THE REGISTERED HOLDER, OR HIS PREDECESSOR IN INTEREST, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THIS CORPORATION.”

11.Transfers in Violation of Agreement.
No Shares may be sold, exchanged, transferred, assigned, pledged, hypothecated or otherwise disposed of, including by operation of law, in any manner which violates any of the provisions of this Agreement, until the date on which such shares become Vested Shares, and any such attempted disposition shall be void.  The Company shall not be required (a) to transfer on its books any Shares which will have been transferred in violation of any of the provisions set forth in this Agreement or (b) to treat as owner of such Shares or to accord the right to vote as such owner or to pay dividends to any transferee to whom such Shares will have been so transferred.  In order to enforce its rights under this Section, the Company shall be authorized to give a stop transfer instruction with respect to the Shares to the Company’s transfer agent.
12.Miscellaneous Provisions.
12.1Termination or Amendment.  The Committee may terminate or amend the Plan or this Agreement at any time; provided, however, that no such termination or amendment may adversely affect the Participant’s rights under this Agreement without the consent of the Participant unless such termination or amendment is necessary to comply with applicable law or government regulation.  No amendment or addition to this Agreement shall be effective unless in writing.
12.2Nontransferability of the Award.  The right to acquire Shares pursuant to the Award shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors of the Participant or the Participant’s beneficiary, except transfer by will or by the laws of descent and distribution.  All rights with respect to the Award shall be exercisable during the Participant’s lifetime only by the Participant or the Participant’s guardian or legal representative.
12.3Further Instruments.  The parties hereto agree to execute such further instruments and to take such further action as may reasonably be necessary to carry out the intent of this Agreement.
12.4Binding Effect.  This Agreement shall inure to the benefit of the successors and assigns of the Company and, subject to the restrictions on transfer set forth herein, be binding upon the Participant and the Participant’s heirs, executors, administrators, successors and assigns.
12.5Delivery of Documents and Notices.  Any document relating to participation in the Plan or any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given (except to the extent that this Agreement provides for effectiveness only upon actual receipt of such notice) upon personal delivery, electronic delivery at the e-mail address, if any, provided for the Participant by a Participating Company, or upon deposit in the U.S. Post Office or foreign postal service, by registered or certified mail, or with a nationally recognized overnight courier service, with postage and fees prepaid, addressed to the other party at the address shown below that party’s signature to the Grant Notice or at such other address as such party may designate in writing from time to time to the other party.
a.Description of Electronic Delivery.  The Plan documents, which may include but do not necessarily include: the Plan, the Grant Notice, this Agreement, the Plan Prospectus, and any reports of the Company provided generally to the Company’s stockholders, may be delivered to the Participant electronically.  In addition, the parties may deliver electronically any notices called for in 

connection with the Escrow and the Participant may deliver electronically the Grant Notice to the Company or to such third party involved in administering the Plan as the Company may designate from time to time.  Such means of electronic delivery may include but do not necessarily include the delivery of a link to a Company intranet or the internet site of a third party involved in administering the Plan, the delivery of the document via e-mail or such other means of electronic delivery specified by the Company.
b.Consent to Electronic Delivery.  The Participant acknowledges that the Participant has read Section 12.5(a) of this Agreement and consents to the electronic delivery of the Plan documents, the Grant Notice and notices in connection with the Escrow, as described in Section 12.5(a).  The Participant acknowledges that he or she may receive from the Company a paper copy of any documents delivered electronically at no cost to the Participant by contacting the Company by telephone or in writing.  The Participant further acknowledges that the Participant will be provided with a paper copy of any documents if the attempted electronic delivery of such documents fails.  Similarly, the Participant understands that the Participant must provide the Company or any designated third party administrator with a paper copy of any documents if the attempted electronic delivery of such documents fails.  The Participant may revoke his or her consent to the electronic delivery of documents described in Section 12.5(a) or may change the electronic mail address to which such documents are to be delivered (if Participant has provided an electronic mail address) at any time by notifying the Company of such revoked consent or revised e-mail address by telephone, postal service or electronic mail.  Finally, the Participant understands that he or she is not required to consent to electronic delivery of documents described in Section 12.5(a).
c.Consent to Electronic Participation.  If requested by the Company, the Participant hereby consents to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.  The Participant understands, however, that he or she is not required to consent to electronic participation as described in this Section.
12.6Integrated Agreement.  The Grant Notice, this Agreement and the Plan, together with any other agreement between the Participant and a Participating Company referring to the Award shall constitute the entire understanding and agreement of the Participant and the Participating Company Group with respect to the subject matter contained herein or therein and supersedes any prior agreements, understandings, restrictions, representations, or warranties among the Participant and the Participating Company Group with respect to such subject matter other than those as set forth or provided for herein or therein.  To the extent contemplated herein or therein, the provisions of the Grant Notice and the Agreement shall survive any settlement of the Award and shall remain in full force and effect.
12.7Applicable Law.  The construction, interpretation and performance of this Agreement, and the transactions under it, shall be governed by and construed in accordance with the laws of the State of New York, without regard to principles of conflict of laws and choice of law rules.
12.8Counterparts.  The Grant Notice may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

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