Document:

Exhibit 10.1

 

TRINITY PLACE HOLDINGS INC.

 

2015 STOCK INCENTIVE PLAN

 

(as amended, effective April 23, 2021)

 

ARTICLE I

 

General

 

1.1 Purpose

 

The Trinity Place Holdings
Inc. 2015 Stock Incentive Plan (the “Plan”) is designed to provide certain key persons, on whose initiative and efforts the
successful conduct of the business of Trinity Place Holdings Inc., a Delaware corporation (the “Company”) depends, and who
are responsible for the management, growth and protection of the business of the Company, with incentives to: (a) enter into and
remain in the service of the Company or a Company subsidiary, (b) acquire a proprietary interest in the success of the Company, (c) maximize
their performance and (d) enhance the long-term performance of the Company (whether directly or indirectly through enhancing the
long-term performance of a Company subsidiary).

 

1.2 Administration

 

(a)   Administration
by Committee; Constitution of Committee.   The Plan shall be administered by the Compensation Committee of the Board of
Directors of the Company (the “Board”) or such other committee or subcommittee as the Board may designate or as shall be formed
by the abstention or recusal of a non-Qualified Member (as defined below) of such committee (the “Committee”). The members
of the Committee shall be appointed by, and serve at the pleasure of, the Board. While it is intended that at all times that the Committee
acts in connection with the Plan, the Committee shall consist solely of two or more Qualified Members, the fact that the Committee is
not so comprised will not invalidate any grant hereunder that otherwise satisfies the terms of the Plan. A “Qualified Member”
is an individual who is a “non-employee director” within the meaning of Rule 16b-3 promulgated under the Securities Exchange
Act of 1934 (the “1934 Act”). If the Committee does not exist, or for any other reason determined by the Board, the Board
may take any action under the Plan that would otherwise be the responsibility of the Committee. The term “Committee” as used
herein shall refer to the Board to the extent that the Board is acting in place of the Committee.

 

(b)   Committee’s
Authority.   The Committee shall have the authority to (i) exercise all of the powers granted to it under the Plan,
(ii) construe, interpret and implement the Plan and any Grant Certificates executed pursuant to Section 2.1, (iii) prescribe,
amend and rescind rules and regulations relating to the Plan, including rules governing its own operations, (iv) make all
determinations necessary or advisable in administering the Plan, (v) correct any defect, supply any omission and reconcile any inconsistency
in the Plan, and (vi) amend the Plan to reflect changes in applicable law.

 

(c)   Committee
Action; Delegation.   Actions of the Committee shall be taken by the vote of a majority of its members. To the extent permitted
by applicable law, any action may be taken by a written instrument signed by a majority of the Committee members, and action so taken
shall be fully as effective as if it had been taken by a vote at a meeting. Notwithstanding the foregoing or any other provision of the
Plan, to the fullest extent permitted by Section 157 of the Delaware General Corporation Law (or any successor provision thereto),
the Committee may delegate to one or more officers of the Company the authority to designate the individuals (other than such officer(s)),
among those eligible to receive awards pursuant to the terms of the Plan, who will receive rights or options under the Plan and the size
of each such grant, provided that the Committee shall itself grant awards to those individuals who could reasonably be considered to be
subject to the insider trading provisions of section 16 of the 1934 Act.

 

(d)   Determinations
Final.   The determination of the Committee on all matters relating to the Plan or any Grant Certificate shall be final,
binding and conclusive.

 

(e)   Limit
on Committee Members’ Liability.   No member of the Committee shall be liable for any action or determination made
in good faith with respect to the Plan or any award thereunder.

 

     

     

    

 

1.3 Persons Eligible for Awards

 

The persons eligible to receive
awards under the Plan are those officers, directors (whether or not they are employed by the Company), and executive, managerial, professional
or administrative employees of, and consultants to, the Company and its subsidiaries (collectively, “key persons”) as the
Committee in its sole discretion shall select, in each case to the extent permitted under Form S-8 under the 1934 Act. No incentive
stock option may be granted to a person who is not an employee of the Company or a Company subsidiary (within the meaning of Section 424
of the Code) on the date of grant.

 

1.4 Types of Awards Under Plan

 

Awards may be made under
the Plan in the form of  (a) incentive stock options, (b) non-qualified stock options (c) stock appreciation rights,
(d) restricted stock, (e) restricted stock units and (f) unrestricted stock, all as more fully set forth in Article II.
The term “award” means any of the foregoing.

 

1.5 Shares Available for Awards

 

(a)   Aggregate
Number of Shares.   Subject to Section 1.5(d), awards under the plan may be granted with respect to an aggregate of
3,330,000 shares of common stock of the Company (“Common Stock”). Shares issued pursuant to the Plan may be authorized but
unissued Common Stock, authorized and issued Common Stock held in the Company’s treasury or Common Stock acquired by the Company
for the purposes of the Plan. Incentive stock options only may be granted with respect to 2,500,000 shares of Common Stock. For purposes
of the foregoing, the full number of shares subject to a stock appreciation right shall be applied to the aggregate number of shares authorized.

 

(b)   Certificate
Legends.   The Committee may direct that any stock certificate evidencing shares issued pursuant to the Plan shall bear
a legend setting forth such restrictions on transferability as may apply to such shares, and if such shares are in book entry form, that
they be subject to electronic coding or stop order reflecting the applicable restrictions.

 

(c)   Certain
Shares to Become Available Again.   The following shares of Common Stock shall again become available for awards under
the Plan: any shares that are subject to an award under the Plan and that remain unissued upon the cancellation or termination of such
award for any reason whatsoever; any shares of restricted stock forfeited pursuant to Section 2.6(e), provided that any dividends
paid on such shares are also forfeited pursuant to such Section 2.6(e); and any shares in respect of which a stock appreciation right
or restricted stock unit award is settled for cash. Except as set forth above, shares subject to an award under the Plan shall not again
become available for grant under the Plan.

 

(d)   Adjustment
Upon Changes in Common Stock.   Upon certain changes in Common Stock, the number of shares of Common Stock available for
issuance under the Plan pursuant to Section 1.5(a) shall be adjusted pursuant to Section 3.6(a).

 

1.6 Definitions of Certain Terms

 

 (a)   The term “cause” in connection
with a termination of employment or other service for cause shall mean:

 

(i)   with
respect to a member of the Board, cause shall consist of any acts or omissions that would constitute “cause” under the by-laws
of the Company, as they may be amended from time to time;

 

(ii)   with
respect to an employee or consultant, to the extent that there is an employment, severance or other agreement governing the relationship
between the grantee and the Company or a Company subsidiary, which agreement contains a definition of  “cause,” cause
shall consist of those acts or omissions that would constitute “cause” under such agreement; and otherwise,

 

(iii)   any one or more of the
following:

 

(A)   any
failure by the grantee substantially to perform the grantee’s employment or other duties;

 

     

     

    

 

(B)   any
excessive unauthorized absenteeism by the grantee;

 

(C)   any
refusal by the grantee to obey the lawful orders of the Board or any other person or committee to whom the grantee reports;

 

(D)   any
act or omission by the grantee that is or may be injurious to the Company, monetarily or otherwise;

 

(E)   any act by the grantee that
is inconsistent with the best interests of the Company;

 

(F)   the
grantee’s material violation of any of the Company’s policies, including, without limitation, those policies relating to discrimination
or sexual harassment;

 

(G)   the
grantee’s unauthorized (a) removal from the premises of the Company or an affiliate of any document (in any medium or form)
relating to the Company or an affiliate or the customers or clients of the Company or an affiliate or (b) disclosure to any person
or entity of any of the Company’s, or its affiliates’, confidential or proprietary information;

 

(H)   the
grantee’s commission of any felony, or any other crime involving moral turpitude; and

 

(I)   the grantee’s commission
of any act involving dishonesty or fraud.

 

Any rights the Company may
have hereunder in respect of the events giving rise to cause shall be in addition to the rights the Company may have under any other agreement
with a grantee or at law or in equity. Any determination of whether a grantee’s employment is (or is deemed to have been) terminated
for cause shall be made by the Committee in its sole discretion. If, subsequent to a grantee’s voluntary termination of employment
or involuntary termination of employment without cause, it is discovered that the grantee’s employment could have been terminated
for cause, the Committee may deem such grantee’s employment to have been terminated for cause. A grantee’s termination of
employment for cause shall be effective as of the date of the occurrence of the event giving rise to cause, regardless of when the determination
of cause is made.

 

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

 

(c)   The
term “director” shall mean a member of the Board and a member of the board of directors of any subsidiary of the Company and
a member of the governing body of any subsidiary of the Company that is a partnership, limited liability company or other form of entity.

 

(d)   The
term “employment” and “employed” shall be deemed to mean an employee’s employment with, or a consultant’s
provision of services to, the Company or any Company subsidiary and each director’s service as a director.

 

(e)   The
 “Fair Market Value” of a share of Common Stock on any day shall be the closing price on any stock exchange on which Common
Stock is listed, as reported for such day in The Wall Street Journal or, if no such price is reported for such day, the average
of the high bid and low asked price of Common Stock as reported for such day. If no quotation is made for the applicable day, the Fair
Market Value of a share of Common Stock on such day shall be determined in the manner set forth in the preceding sentence using quotations
for the next preceding day for which there were quotations, provided that such quotations shall have been made within the ten (10) business
days preceding the applicable day. Notwithstanding the foregoing, if deemed necessary or appropriate by the Committee, the Fair Market
Value of a share of Common Stock on any day shall be determined by the Committee. In no event shall the Fair Market Value of any share
of Common Stock be less than its par value.

 

(f)   The
term “incentive stock option” means an option that is intended to qualify for special federal income tax treatment pursuant
to sections 421 and 422 of the Code as now constituted or subsequently amended, or pursuant to a successor provision of the Code, and
which is so designated in the applicable Grant Certificate. Any option that is not specifically designated as an incentive stock option
shall under no circumstances be considered an incentive stock option. Any option that is not an incentive stock option is referred to
herein as a “non-qualified stock option.”

 

(g)   The
term “subsidiary” or “subsidiaries” shall mean any corporation, partnership, limited liability company or other
entity of which more than 50% of the economic interest in such entity is owned directly or indirectly by the Company or another subsidiary.

 

     

     

    

 

(h)   The
terms “termination of employment,” “terminated employment” and related terms or usages shall mean (i) the
grantee ceasing to be employed by, or to provide consulting services for, the Company or any Company subsidiary, or any corporation (or
any of its subsidiaries) which assumes the grantee’s award in a transaction to which section 424(a) of the Code applies; (ii) the
grantee ceasing to be a director; or (iii) in the case of a grantee who is, at the time of reference, both an employee or consultant
and a director, the later of the events set forth in subparagraphs (i) and (ii) above. For purposes of clauses (i) and
(ii) above, a grantee who continues his employment, consulting relationship or service as a director with a Company subsidiary subsequent
to its sale by the Company, shall have a termination of employment upon the date of such sale. The Committee may in its sole discretion
determine whether any leave of absence constitutes a termination of employment for purposes of the Plan and the impact, if any, of any
such leave of absence on awards theretofore made under the Plan. A person whose status changes from consultant, employee, or director
to any other of such positions without interruption shall not be considered to have had a termination of employment by reason of such
change.

 

ARTICLE II

 

Awards Under The Plan

 

2.1 Certificates Evidencing Awards

 

Each award granted under
the Plan (except an award of unrestricted stock) shall be evidenced by a written certificate (“Grant Certificate”) which shall
contain such provisions as the Committee may in its sole discretion deem necessary or desirable. By accepting an award pursuant to the
Plan, a grantee thereby agrees that the award shall be subject to all of the terms and provisions of the Plan and the applicable Grant
Certificate.

 

2.2 Grant of Stock Options and Stock Appreciation Rights

 

(a)   Stock
Option Grants.   The Committee may grant incentive stock options and non-qualified stock options (collectively, “options”)
to purchase shares of Common Stock from the Company, to such key persons, in such amounts and subject to such vesting and forfeiture provisions
and other terms and conditions, as the Committee shall determine in its sole discretion, subject to the provisions of the Plan. Options
granted under the Plan shall not be incentive stock options within the meaning of Section 422 of the Code.

 

(b)   Stock
Appreciation Right Grants; Types of Stock Appreciation Rights.   The Committee may grant stock appreciation rights to such
key persons, in such amounts and subject to such vesting and forfeiture provisions and other terms and conditions, as the Committee shall
determine in its sole discretion, subject to the provisions of the Plan. Stock appreciation rights may be granted in connection with all
or any part of, or independently of, any option granted under the Plan. A stock appreciation right granted in connection with an option
may be granted at or after the time of grant of such option.

 

(c)   Nature
of Stock Appreciation Rights.   The grantee of a stock appreciation right shall have the right, subject to the terms of
the Plan and the applicable Grant Certificate, to receive from the Company an amount equal to (i) the excess of the Fair Market Value
of a share of Common Stock on the date of exercise of the stock appreciation right over an amount determined by the Committee at the time
of grant, which may not be less than the Fair Market Value of a share of Common Stock on the date of grant (or over the option exercise
price if the stock appreciation right is granted in connection with an option), multiplied by (ii) the number of shares with respect
to which the stock appreciation right is exercised. Payment upon exercise of a stock appreciation right shall be in cash or in shares
of Common Stock (valued at their Fair Market Value on the date of exercise) or both, as the Committee shall determine in its sole discretion.
Upon the exercise of a stock appreciation right granted in connection with an option, the number of shares subject to the option shall
be reduced by the number of shares with respect to which the stock appreciation right is exercised. Upon the exercise of an option in
connection with which a stock appreciation right has been granted, the number of shares subject to the stock appreciation right shall
be reduced by the number of shares with respect to which the option is exercised.

 

(d)   Option
Exercise Price.   Each Grant Certificate with respect to an option shall set forth the amount (the “option exercise
price”) payable by the grantee to the Company upon exercise of the applicable option. The option exercise price shall be determined
by the Committee in its sole discretion; provided, however, that the option exercise price shall be at least 100% of the Fair Market Value
of a share of Common Stock on the date the option is granted, and provided, further, that the option exercise price per share shall be
not less than the par value of a share of Common Stock.

 

     

     

    

 

(e)   Exercise Period.

 

(i)   The
Committee shall determine the periods during which an option or stock appreciation right shall be exercisable, whether in whole or in
part. Such periods shall be determined by the Committee in its sole discretion; provided, however, that no stock option (or a stock appreciation
right granted in connection with a stock option) shall be exercisable more than 10 years after the date of grant. The Committee may
provide that a stock option or stock appreciation right will be automatically exercised on specific dates or upon the occurrence of a
specified event.

 

(ii)   Unless
the applicable Grant Certificate provides otherwise, the following terms shall apply:

 

(A)   An option
or stock appreciation right shall become exercisable with respect to a number of shares as close as possible to 25% of the shares subject
to such option or stock appreciation right on each of the first four anniversaries of the date of grant. A stock appreciation right granted
in connection with an option may be exercised at any time when, and to the same extent that, the related option may be exercised.

 

(B)   The
option or stock appreciation right may be exercised from time to time as to all or part of the shares as to which such award is then exercisable.

 

(C)   The
option or stock appreciation right shall remain exercisable until the earlier of  (i) the tenth anniversary of the date of
grant or (ii) the expiration, cancellation or termination of the award, as set forth in Section 2.4 or otherwise.

 

(f)   Incentive
Stock Option Limitation: Exercisability.   To the extent that the aggregate Fair Market Value (determined as of the time
the option is granted) of the stock with respect to which an incentive stock option is first exercisable by any employee during any calendar
year shall exceed $100,000, or such other amount as may be specified from time to time under section 422 of the Code, such option shall
be treated as a non-qualified stock option.

 

(g)   Incentive
Stock Option Limitation: 10% Owners.   Notwithstanding the provisions of paragraphs (d) and (e) of this Section 2.2,
an incentive stock option may not be granted under the Plan to an individual who, at the time the option is granted, owns stock possessing
more than 10% of the total combined voting power of all classes of stock of his employer corporation or of its parent or subsidiary corporations
(as such ownership may be determined for purposes of section 422(b)(6) of the Code) unless (i) at the time such incentive stock
option is granted the option exercise price is at least 110% of the Fair Market Value of the shares subject thereto and (ii) the
incentive stock option by its terms is not exercisable after the expiration of 5 years from the date it is granted.

 

(h)   Reload
Options.   The Administrator shall not include in any Grant Certificate with respect to an option (the “original
option”) a provision that an additional option (a “reload option”) be granted to any grantee who delivers shares of
Common Stock in partial or full payment of the exercise price of the original option.

 

2.3 Exercise of Options and Stock Appreciation Rights

 

Subject to the other provisions
of this Article II, each option or stock appreciation right granted under the Plan shall be exercisable as follows:

 

(a)   Notice
of Exercise.   An option or stock appreciation right shall be exercised by the filing of a written notice with the Company
or the Company’s designated exchange agent (the “exchange agent”), on such form and in such manner as the Committee
shall in its sole discretion prescribe.

 

(b)   Payment
of Exercise Price.   Any written notice of exercise of an option shall be accompanied by payment for the shares being purchased.
Such payment shall be made by one or more of the following methods: (i) certified or official bank check (or the equivalent thereof
acceptable to the Company or its exchange agent); (ii) with the consent of the Committee, delivery of shares of Common Stock having
a Fair Market Value (determined as of the exercise date) equal to all or part of the option exercise price; or (iii) at the sole
discretion of the Committee and to the extent permitted by law and consistent with the terms of the Plan, such other provision as the
Committee may from time to time prescribe.

 

     

     

    

 

(c)   Delivery
of Shares Upon Exercise.   Promptly after receiving payment of the full option exercise price or after receiving notice
of the exercise of a stock appreciation right with respect to which payment will be made partly or entirely in shares, the Company or
its exchange agent shall, subject to the provisions of Section 3.2, deliver to the grantee or to such other person as may then have
the right to exercise the award, a certificate or certificates for the shares of Common Stock for which the award has been exercised or
shall establish an account evidencing ownership of such shares in uncertificated form. If the method of payment employed upon option exercise
so requires, and if applicable law permits, a grantee may direct the Company or its exchange agent, as the case may be, to deliver the
stock certificate(s) to the grantee’s stockbroker.

 

(d)   No Shareholder
Rights.   No grantee of an option or stock appreciation right (or other person having the right to exercise such award)
shall have any of the rights of a shareholder of the Company with respect to shares subject to such award until the issuance of a stock
certificate to such person for such shares or the establishment of an account to record such stock ownership in uncertificated form. Except
as otherwise provided in Section 3.6, no adjustment shall be made for dividends, distributions or other rights (whether ordinary
or extraordinary, and whether in cash, securities or other property) for which the record date is prior to the date such stock certificate
is issued or such account is established.

 

2.4 Termination of Employment; Death Subsequent to a Termination
of Employment

 

Except to the extent otherwise
provided by the Committee in a Grant Certificate or otherwise, the following rules shall apply to options and stock appreciation
rights in the event of the grantee’s termination of employment.

 

(a)   General
Rule.   Except to the extent otherwise provided in this Section 2.4, a grantee whose employment terminates may exercise
any outstanding option or stock appreciation right (i) only to the extent that the award was exercisable on (or became exercisable
in connection with) the effective date of the termination of employment and (ii) only during the three-month period following the
termination of employment, but in no event after the original expiration date of the award. The option or stock appreciation right, to
the extent not exercisable on the effective date of the termination of employment or not exercised during the three-month period following
the termination of employment, shall terminate.

 

(b)   Termination
for Cause.   If a grantee’s employment is terminated for cause, all options and stock appreciation rights not theretofore
exercised shall terminate as of the commencement of business on the effective date of the grantee’s termination of employment.

 

(c)   Disability.   A
grantee whose employment terminates by reason of a disability (as defined below), may exercise any outstanding option or stock appreciation
right (i) only to the extent that the award was exercisable on (or became exercisable in connection with) the effective date of the
termination of employment; and (ii) only during the period ending on the earlier of  (A) the first anniversary of the
grantee’s termination of employment and (B) the original expiration date of the award. The option or stock appreciation right,
to the extent not exercisable on the effective date of the termination of employment or not exercised during the one-year period following
the termination of employment, shall terminate. For this purpose “disability” shall mean: (x) except in connection with
an incentive stock option, any physical or mental condition that would qualify a grantee for a disability benefit under the long-term
disability plan maintained by the Company or, if there is no such plan, a physical or mental condition that prevents the grantee from
performing the essential functions of the grantee’s position (with or without reasonable accommodation) for a period of six consecutive months
and (y) in connection with an incentive stock option, a disability described in section 422(c)(6) of the Code. The existence
of a disability shall be determined by the Committee in its sole discretion.

 

(d)   Death.

 

(i)   Termination
of Employment as a Result of Grantee’s Death.   If a grantee dies while employed, then any outstanding option or
stock appreciation right may be exercised (i) only to the extent that the award was exercisable on (or became exercisable in connection
with) the grantee’s death; and (ii) only during the period ending on the earlier of  (A) the first anniversary
of the grantee’s death and (B) the original expiration date of the award. The option or stock appreciation right, to the extent
not exercisable on the date of death or not exercised during the one-year period following death, shall terminate.

 

     

     

    

 

(ii)   Death
Subsequent to a Termination of Employment.   If a grantee dies subsequent to terminating employment but prior to the expiration
of a stock option or a stock appreciation right (as provided by paragraphs (a) or (c) above), the award shall remain exercisable
until the earlier to occur of (A) the first anniversary of the grantee’s death or (B) the original expiration date of
the award. The option or stock appreciation right, to the extent not exercised during the one-year period following death, shall terminate.

 

(iii)   Restrictions
on Exercise Following Death.   Any such exercise of an award following a grantee’s death shall be made only by the
grantee’s executor or administrator or other duly appointed representative reasonably acceptable to the Committee, unless the grantee’s
will specifically disposes of such award, in which case such exercise shall be made only by the recipient of such specific disposition.
If a grantee’s personal representative or the recipient of a specific disposition under the grantee’s will shall be entitled
to exercise any award pursuant to the preceding sentence, such representative or recipient shall be bound by all the terms and conditions
of the Plan and the applicable Grant Certificate which would have applied to the grantee including, without limitation, the provisions
of Sections 3.2 hereof.

 

(e)   Special
Rules for Incentive Stock Options.   An option may not be treated as an incentive stock option to the extent that
it remains exercisable for more than three months following a grantee’s termination of employment for any reason other than
death or disability (including death within three months after a termination of employment or within the one year after a termination
due to disability), or for more than one year following a grantee’s termination of employment as the result of disability.

 

2.5 Transferability of Options and Stock Appreciation Rights

 

Except as otherwise provided
in an applicable Grant Certificate evidencing an option (other than an incentive stock option, to the extent inconsistent with section
422 of the Code) or stock appreciation right, during the lifetime of a grantee each option or stock appreciation right granted to a grantee
shall be exercisable only by the grantee and no option or stock appreciation right shall be assignable or transferable otherwise than
by will or by the laws of descent and distribution. The Committee, in any applicable Grant Certificate evidencing an option or a stock
appreciation right, may permit a grantee to transfer all or some of the options or stock appreciation rights, as applicable, to (A) the
grantee’s spouse, children or grandchildren (“Immediate Family Members”), (B) a trust or trusts for the exclusive
benefit of such Immediate Family Members, or (C) other parties approved by the Committee in its sole discretion. Following any such
transfer, any transferred options and stock appreciation rights shall continue to be subject to the same terms and conditions as were
applicable immediately prior to the transfer.

 

2.6 Grant of Restricted Stock

 

(a)   Restricted
Stock Grants.   The Committee may grant restricted shares of Common Stock to such key persons, in such amounts, and subject
to such vesting and forfeiture provisions and other terms and conditions as the Committee shall determine in its sole discretion, subject
to the provisions of the Plan. Restricted stock awards may be made independently of or in connection with any other award under the Plan.
A grantee of restricted stock shall have no rights with respect to such award unless such grantee accepts the award within such period
as the Committee shall specify by accepting delivery of a Grant Certificate in such form as the Committee shall determine and, in the
event the restricted shares are newly issued by the Company, makes payment to the Company or its exchange agent as required by the Committee
and in accordance with the Delaware General Corporation Law.

 

(b)   Issuance
of Shares.   Promptly after a grantee accepts a restricted stock award, the Company or its exchange agent shall issue to
the grantee a stock certificate or certificates for the shares of Common Stock covered by the award or shall establish an account evidencing
ownership of the stock in uncertificated form. Upon the issuance of such stock certificate(s) or establishment of such account, the
grantee shall have the rights of a shareholder with respect to the restricted stock, subject to: (i) the further provisions of this
Section 2.6 and (ii) any other restrictions and conditions contained in the applicable Grant Certificate.

 

(c)   Custody
of Stock Certificate(s).   Unless the Committee shall otherwise determine, any stock certificates issued evidencing shares
of restricted stock shall remain in the possession of the Company or another custodian designated by the Company until such shares are
free of any restrictions specified in the applicable Grant Certificate. The Committee may direct that such stock certificate(s) bear
a legend setting forth the applicable restrictions on transferability, and if such shares are in book entry form, that they be subject
to electronic coding or stop order reflecting the applicable restrictions.

 

     

     

    

 

(d)   Nontransferability/Vesting.   Shares
of restricted stock may not be sold, assigned, transferred, pledged or otherwise encumbered or disposed of except as otherwise specifically
provided in this Plan or the applicable restricted stock agreement. The Committee at the time of grant shall specify the date or dates
(which may depend upon or be related to a period of continued employment with the Company, the achievement of performance goals or other
conditions or a combination of such conditions) on which the shares of restricted stock vest, at on which date or dates the nontransferability
of the restricted stock shall lapse.

 

(e)   Consequence
of Termination of Employment.   Except as may be otherwise provided by the Committee in a Grant Certificate or otherwise,
a grantee’s termination of employment for any reason shall cause the immediate forfeiture of all shares of restricted stock that
did not vest prior to, and do not vest on account of, such termination of employment. All dividends paid on such shares also shall be
forfeited, whether by termination of any arrangement under which such dividends are held, by the grantee’s repayment of dividends
he received directly, or otherwise, unless the Board or the Committee determines otherwise.

 

2.7 Grant of Restricted Stock Units

 

(a)   Restricted
Stock Unit Grants.   The Committee may grant restricted stock units to such key persons, in such amounts, and subject
to such terms and conditions as the Committee shall determine in its sole discretion, subject to the provisions of the Plan. Restricted
stock units may be awarded independently of or in connection with any other award under the Plan. A grantee of a restricted stock
unit shall have no rights with respect to such award unless such grantee accepts the award within such period as the Committee shall specify
by accepting delivery of a Grant Certificate in such form as the Committee shall determine. A grant of a restricted stock unit entitles
the grantee to receive a share of Common Stock or, in the sole discretion of the Committee, the value of a share, on a date specified
in the Grant Certificate. If no date is specified, the grantee shall receive such share or value on the date that the restricted stock
unit vests.

 

(b)   Vesting/Nontransferability.   The
Committee shall specify at the time of grant the date or dates (which may depend upon or be related to a period of continued employment
with the Company, the achievement of performance goals or other conditions or a combination of such conditions) on which the restricted
stock units shall vest. Restricted stock units may not be sold, assigned, transferred, pledged or otherwise encumbered or disposed
of except as otherwise specifically provided in the applicable Grant Certificate.

 

(c)   Consequence
of Termination of Employment.   Except as may otherwise be provided by the Committee in a Grant Certificate or otherwise,
a grantee’s termination of employment for any reason shall cause the immediate forfeiture of all restricted stock units that
did not vest prior to, and do not vest on account of, such termination of employment.

 

(d)   Shareholder
Rights.   The grantee of a restricted stock unit will have the rights of a shareholder only as to shares for which, pursuant
to the award, a stock certificate has been issued or an account has been established evidencing ownership of the stock in uncertificated
form, and not with respect to any other shares subject to the award.

 

2.8 Grant of Unrestricted Stock

 

The Committee may grant (or
sell at a purchase price at least equal to par value) shares of Common Stock free of restrictions under the Plan, to such key persons
and in such amounts and subject to such forfeiture provisions as the Committee shall determine in its sole discretion. Shares may be thus
granted or sold in respect of past services or other valid consideration.

 

     

     

    

 

2.9 Right of Recapture

 

(a)   If a
grantee has been granted or become vested in an award pursuant to the achievement of performance goals under this Article II, and
the Committee subsequently determines that the earlier determination as to the achievement of the performance goals was based on incorrect
data and that in fact the performance goals had not been achieved or had been achieved to a lesser extent than originally determined,
then (i) any award or portion of an award granted based on such incorrect determination shall be forfeited or returned to the Company,
(ii) any option or stock appreciation right that was exercised shall be deemed not exercised and any shares issued upon such exercise
shall be returned to the Company and, in the case of an option, the Company shall return the exercise price paid, (iii) any award
or portion of an award that became vested based on such incorrect determination shall be deemed to be not vested, and (iv) any amounts
paid to the grantee based on such incorrect determination shall be paid by the grantee to the Company upon notice from the Company.

 

(b)   All
awards under the Plan shall be subject to any clawback policies adopted by the Company.

 

ARTICLE III

 

Miscellaneous

 

3.1 Amendment of the Plan; Modification of Awards

 

(a)   Amendment of the Plan.

 

(i)   General.   Subject
to Section 3.1(a)(ii), the Board may from time to time suspend, discontinue, revise or amend the Plan in any respect whatsoever,
except that no such amendment shall materially impair any rights or materially increase any obligations under any award theretofore made
under the Plan without the consent of the grantee (or, upon the grantee’s death, the person having the right to exercise the award).
For purposes of this Section 3.1, any action of the Board that in any way alters or affects the tax treatment of any award or that
in the sole discretion of the Board is necessary to prevent the grantee from being subject to tax with respect to an award under section
409A of the Code shall not be considered to materially impair any rights of any grantee.

 

(ii)   Shareholder
Approval Requirement.   Shareholder approval shall be required with respect to any amendment to the Plan to the extent
(i) required by applicable law or stock exchange rules or (ii) that the Board determines that shareholder approval is desirable
or necessary.

 

(b)   Modification
of Awards.   The Committee may cancel any award under the Plan. Subject to the limitations in this Section 3.1(b),
the Committee also may amend any outstanding award and the applicable Grant Certificate, including, without limitation, by amendment which
would: (i) accelerate the time or times at which the award becomes unrestricted or may be exercised; (ii) waive or amend any
goals, restrictions or conditions set forth in the Agreement; or (iii) waive or amend the operation of Section 2.4. Any such
cancellation or amendment (other than an amendment pursuant to Section 3.6) that materially impairs the rights or materially increases
the obligations of a grantee under an outstanding award shall be made only with the consent of the grantee (or, upon the grantee’s
death, the person having the right to exercise the award).

 

(c)   Repricing
of Awards.   Notwithstanding the foregoing and except as may be permitted under Section 3.6 hereof, the Committee
may not, without shareholder approval, directly or indirectly reduce the exercise price of an outstanding option or stock appreciation
right, including (i) changing the terms of an option or stock appreciation right to reduce the exercise price of such option or stock
appreciation right; (ii) cancelling an option or stock appreciation right in exchange for a new option or stock appreciation right
with a lower exercise price, (iii) cancelling an option or stock appreciation right in exchange for a different type of award under
the Plan that has a value that is greater than the excess of the Fair Market Value of the applicable shares on the date of such payment
over the exercise price, (iv) authorizing, in lieu of the exercise or in exchange for the cancellation of an option or stock appreciation
right, the payment of cash in an amount that is greater than the excess of the Fair Market Value of the applicable shares on the date
of such payment over the exercise price, or (v) taking any other action that is treated as a “repricing” under generally
accepted accounting principles, or (v) take any other action that has the same effect as any of the foregoing, unless the cancellation
and exchange occurs in connection with an adjustment permitted under Sections 3.6(a)(iv), 3.6(c)(iii) or 3.6(d) below.
Such cancellation and exchange would be considered a “repricing” regardless of whether it is treated as a “repricing”
under generally accepted accounting principles and regardless of whether it is voluntary on the part of the grantee.

 

     

     

    

 

3.2 Consent Requirement

 

(a)   No Plan Action
without Required Consent.   If the Committee shall at any time determine that any Consent (as hereinafter defined) is necessary
or desirable as a condition of, or in connection with, the granting of any award under the Plan, the issuance or purchase of shares or
other rights thereunder, or the taking of any other action thereunder (each such action being hereinafter referred to as a “Plan Action”),
then such Plan Action shall not be taken, in whole or in part, unless and until such Consent shall have been effected or obtained
to the full satisfaction of the Committee.

 

(b)   Consent
Defined.   The term “Consent” as used herein with respect to any Plan Action means (i) any and all
listings, registrations or qualifications in respect thereof upon any securities exchange or under any federal, state or local law, rule or
regulation, (ii) any and all written agreements and representations by the grantee with respect to the disposition of shares, or
with respect to any other matter, which the Committee shall deem necessary or desirable to comply with the terms of any such listing,
registration or qualification or to obtain an exemption from the requirement that any such listing, qualification or registration be made
and (iii) any and all consents, clearances and approvals in respect of a Plan Action by any governmental or other regulatory
bodies.

 

3.3 Nonassignability

 

Except as otherwise provided
in the Plan, (a) no award or right granted to any person under the Plan or under any Grant Certificate shall be assignable or transferable
other than by will or by the laws of descent and distribution, in accordance with the terms of such awards and to the extent not forfeited
upon death; and (b) all rights granted under the Plan or any Grant Certificate shall be exercisable during the life of the grantee
only by the grantee or the grantee’s legal representative.

 

3.4 Requirement of Notification of Election Under Section 83(b) of
the Code

 

(a)   Election
Under Section 83(b) of the Code.   If any grantee shall, in connection with the acquisition of shares of Common
Stock under the Plan, make the election permitted under section 83(b) of the Code (i.e., an election to include in gross income in
the year of transfer the amounts specified in section 83(b)), such grantee shall notify the Company of such election within 10 days
of filing notice of the election with the Internal Revenue Service, in addition to any filing and notification required pursuant to regulations
issued under the authority of Code section 83(b).

 

(b)   Disqualifying
Disposition Under Section 421(b) of the Code.   The grantee of an incentive stock option shall notify the Company
of any disposition of shares of Common Stock issued pursuant to the exercise of such option under the circumstances described in section
421(b) of the Code (relating to certain disqualifying dispositions), within 10 days of such disposition.

 

3.5 Withholding Taxes

 

(a)   Cash
Payments.   Whenever cash is to be paid pursuant to an award under the Plan, the Company shall be entitled to deduct therefrom
an amount sufficient in its opinion to satisfy all federal, state and other governmental tax withholding requirements related to such
payment.

 

(b)   Delivery
of Common Stock.   Whenever shares of Common Stock are to be delivered pursuant to an award under the Plan, the Company
shall be entitled to require as a condition of delivery that the grantee remit to the Company an amount sufficient in the opinion of the
Company to satisfy all federal, state and other governmental tax withholding requirements related thereto. With the approval of the Committee,
which the Committee shall have sole discretion whether or not to give, the grantee may satisfy the foregoing condition by surrendering
restricted shares or electing to have the Company withhold from delivery shares, in each case having a value equal to the amount of tax
to be withheld. Such shares shall be valued at their Fair Market Value as of the date on which the amount of tax to be withheld is determined.
Fractional share amounts shall be settled in cash. Such a withholding election may be made with respect to all or any portion of the shares
to be delivered pursuant to an award.

 

     

     

    

 

3.6 Adjustment Upon Changes in Common Stock

 

(a)   Corporate
Events.   In the event of any change in the number of shares of Common Stock outstanding by reason of any stock dividend
or split, reverse stock split, recapitalization, consolidation, combination or exchange of shares or similar corporate change (collectively
referred to as “corporate events”), the Committee shall make the following adjustments, subject to Sections 3.6(b) and
(c):

 

(i)   Shares
Available for Grants.   The maximum number of shares of Common Stock with respect to which the Committee may grant awards
under Article II hereof, as described in Section 1.5(a), shall be appropriately adjusted by the Committee. In the event of any
change in the number of shares of Common Stock outstanding by reason of any event or transaction other than a corporate event, the Committee
may, but need not, adjust the maximum number of shares of Common Stock with respect to which the Committee may grant awards under Article II
hereof, as described in Section 1.5(a), with respect to the number and class of shares of Common Stock, in each case as the Committee
may deem appropriate.

 

(ii)   Restricted
Stock.   Unless the Committee in its sole discretion otherwise determines, any securities or other property (including
dividends paid in cash) received by a grantee with respect to a share of restricted stock as a result of a corporate event will not vest
until such share of restricted stock vests, and shall be promptly deposited with the Company or another custodian designated by the Company.

 

(iii)   Restricted
Stock Units.   The Committee shall adjust outstanding grants of restricted stock units to reflect any corporate event
as the Committee may deem appropriate to prevent the enlargement or dilution of rights of grantees.

 

(iv)   Options
and Stock Appreciation Rights.   Subject to any required action by the shareholders of the Company, in the event of any
increase or decrease in the number of issued shares of Common Stock or a change in the class of shares of Common Stock resulting from
a corporate event or any other increase or decrease in the number of such shares effected without receipt of consideration by the Company,
the Committee shall proportionally adjust the number or class of shares of Common Stock subject to each outstanding option and stock appreciation
right and the exercise price-per-share of Common Stock of each such option and stock appreciation right.

 

(b)   Outstanding
Options, Stock Appreciation Rights and Restricted Stock Units — Certain Mergers.   Subject to any required
action by the shareholders of the Company, in the event that the Company shall be the surviving corporation in any merger or consolidation
(except a merger or consolidation as a result of which the holders of shares of Common Stock receive securities of another corporation),
each option, stock appreciation right and restricted stock unit outstanding on the date of such merger or consolidation shall pertain
to and apply to the securities which a holder of the number of shares of Common Stock subject to such option, stock appreciation right
or restricted stock unit would have received in such merger or consolidation.

 

(c)   Outstanding
Options, Stock Appreciation Rights and Restricted Stock Units  —  Certain Other Transactions.   In
the event of  (i) a dissolution or liquidation of the Company, (ii) a sale of all or substantially all of the Company’s
assets, (iii) a merger or consolidation involving the Company in which the Company is not the surviving corporation or (iv) a
merger or consolidation involving the Company in which the Company is the surviving corporation but the holders of shares of Common Stock
receive securities of another corporation and/or other property, including cash, the Committee shall, in its sole discretion, have the
power to: (i) cancel, effective immediately prior to the occurrence of such event, each option, stock appreciation right and restricted
stock unit outstanding immediately prior to such event (whether or not then vested or exercisable), and, in full consideration of such
cancellation, pay to the grantee (A) to whom such option or stock appreciation right was granted an amount (whether in cash or, to
the extent holders of Common Stock receive securities in the applicable transaction and the Committee so elects, securities), for each
share of Common Stock subject to such option or stock appreciation right, respectively, equal to the excess of  (x) the value,
as determined by the Committee in its sole discretion, of the property (including cash) received by the holder of a share of Common Stock
as a result of such event over (y) the exercise price of such option or stock appreciation right and (B) to whom such restricted
stock unit was granted, for each share of Common Stock subject to such award, the value, as determined by the Committee in its sole discretion,
of the property (including cash) received by the holder of a share of Common Stock as a result of such event, provided, however, that
if such option, stock appreciation right or restricted stock unit was subject to vesting or exercisability based achievement of specified
performance goals, the Committee may provide that such payments only shall be made to the extent that the applicable performance goal
was achieved, assuming the performance period ended on the date of the applicable event; or

 

     

     

    

 

(ii)   (1) provide
that each option and stock appreciation right outstanding immediately prior to such event (whether or not otherwise vested and exercisable)
(a) may be exercised during a period of not less than 30 days prior to the occurrence of such event and (b) shall expire
upon the occurrence of such event, and (2) cancel, effective immediately prior to the occurrence of such event, each restricted stock
unit outstanding immediately prior to such event (whether or not then vested), and, in full consideration of such cancellation, pay to
the grantee to whom such restricted stock unit was granted, for each share of Common Stock subject to such award, the value, as determined
by the Administrator in its sole discretion, of the property (including cash) received by the holder of a share of Common Stock as a result
of such event, provided, however, that if such option, stock appreciation right or restricted stock unit was subject to vesting or exercisability
based achievement of specified performance goals, the Committee may provide that such option and stock appreciation right only shall be
exercisable and payment only shall be made with respect to such restricted stock unit to the extent that the applicable performance goal
was achieved, assuming the performance period ended on the date of the applicable event; or

 

(iii)   provide,
in a manner consistent with Section 409A of the Code, for the exchange of each option, stock appreciation right and restricted stock
unit outstanding immediately prior to such event (whether or not then exercisable) (the “original awards”) for an option on,
stock appreciation right and restricted stock unit with respect to, as appropriate, some or all of the property which a holder of the
number of shares of Common Stock subject to such option, stock appreciation right or restricted stock unit would have received and, incident
thereto, make an equitable adjustment as determined by the Committee in its sole discretion in the exercise price of the option or stock
appreciation right, or the number of shares or amount of property subject to the option, stock appreciation right or restricted stock
unit, with the other terms of such awards the same as the terms of the applicable original awards, or, if the Committee so determines
in its sole discretion, provide for a cash payment to the grantee to whom such option, stock appreciation right or restricted stock unit
was granted in partial consideration for the exchange of the option, stock appreciation right or restricted stock unit.

 

(d)   Outstanding
Options, Stock Appreciation Rights and Restricted Stock Units  —  Other Changes.   In
the event of any change in the capitalization of the Company or a corporate change other than those specifically referred to in Sections 3.6(a),
(b) or (c) hereof, the Committee may, in its sole discretion and in a manner consistent with Section 409A of the Code,
make such adjustments in the number and class of shares or other property subject to options, stock appreciation rights and restricted
stock units outstanding on the date on which such change occurs and in the per-share exercise price of each such option and stock
appreciation right as the Committee may consider appropriate to prevent dilution or enlargement of rights. In addition, if and to the
extent the Committee, in its sole discretion, determines it is appropriate, the Committee may elect to cancel each or any option, stock
appreciation right and restricted stock unit outstanding immediately prior to such event (whether or not then exercisable), and, in full
consideration of such cancellation, pay to the grantee to whom such award was granted an amount in cash, (A) for each share of Common
Stock subject to such option or stock appreciation right, respectively, equal to the excess of  (i) the Fair Market Value
of Common Stock on the date of such cancellation over (ii) the exercise price of such option or stock appreciation right (B) for
each share of Common Stock subject to such restricted stock unit equal to the Fair Market Value of Common Stock on the date of such cancellation.

 

(e)   No Other
Rights.   Except as expressly provided in the Plan, no grantee shall have any rights by reason of any subdivision or consolidation
of shares of stock of any class, the payment of any dividend, any increase or decrease in the number of shares of stock of any class or
any dissolution, liquidation, merger or consolidation of the Company or any other corporation. Except as expressly provided in the Plan,
no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect,
and no adjustment by reason thereof shall be made with respect to, the number of shares of Common Stock subject to an award or the exercise
price of any option or stock appreciation right.

 

     

     

    

 

3.7 Change in Control

 

(a)   General.   Unless
the applicable Grant Certificate provides otherwise or unless otherwise determined by the Committee, in the event of a Change in Control,
each award outstanding as of the Change in Control shall be assumed, continued or substituted, effective as of the date of the consummation
of the Change in Control, with a new award with an intrinsic value equivalent to that of the original award and on terms equivalent to
those contained in the Grant Certificate of such award. Any such assumption, continuation or substitution shall be in the manner set forth
in Section 3.6(c)(iii) above. In the event that the acquiror or successor entity in the Change in Control refuses to assume,
continue or substitute such awards, such awards shall be treated as set forth in Section 3.6(c)(i) and (ii) above.

 

(b)   A “Change in Control”
shall mean the first to occur of the following events:

 

(i)   The
consummation of a transaction or series of transactions whereby any “person” or related “group” of  “persons”
 ​(as such terms are used in Sections 13(d) and 14(d)(2) of the 1934 Act (other than the Company,
any of its parents or subsidiaries, an employee benefit plan maintained by the Company or any of its parents or subsidiaries, a “person”
that, prior to such transaction, directly or indirectly controls, is controlled by, or is under common control with, the Company, or any
current stockholders who have filed a Schedule D or Schedule G with the Securities Exchange Commission) directly or indirectly
acquires beneficial ownership (within the meaning of Rule 13d-3 under the 1934 Act) of securities of the Company possessing more
than fifty percent (50%) of the total combined voting power of the Company’s securities outstanding immediately after such
acquisition; or

 

(ii)   The
consummation by the Company (whether directly involving the Company or indirectly involving the Company through one or more intermediaries)
of  (x) a merger, consolidation, reorganization, or business combination or (y) a sale or other disposition of all or
substantially all of the Company’s assets in any single transaction or series of related transactions or (z) the acquisition
of assets or stock of another entity, in each case, other than a transaction:

 

(A)   Which
results in the Company’s voting securities outstanding immediately before the transaction continuing to represent (either by remaining
outstanding or by being converted into voting securities of the Company or the person that, as a result of the transaction, controls,
directly or indirectly, the Company or owns, directly or indirectly, all or substantially all of the Company’s assets or otherwise
succeeds to the business of the Company (the Company or such person, the “Successor Entity”)), directly or indirectly, at
least a majority of the combined voting power of the Successor Entity’s outstanding voting securities immediately after the transaction,
and

 

(B)   After
which no person or group beneficially owns voting securities representing 50% or more of the combined voting power of the Successor Entity;
provided, however, that no person or group shall be treated for purposes of this Section 3.7(b)(ii)(B) as beneficially owning
50% or more of the combined voting power of the Successor Entity solely as a result of the voting power held in the Company prior to the
consummation of the transaction.

 

3.8 Limitations Imposed with respect to Section 162(m)

 

Notwithstanding any other
provision hereunder, if and to the extent that the Committee determines the Company’s federal tax deduction in respect of an award
may be limited as a result of section 162(m) of the Code, the Committee may take the following actions:

 

(i)   With
respect to options or stock appreciation rights, the Committee may delay the exercise or payment, as the case may be, in respect of such
options or stock appreciation rights until a date that is within 30 days after the date that compensation paid to the grantee no
longer is subject to the deduction limitation under section 162(m) of the Code. In the event that a grantee exercises an option or
stock appreciation right at a time when the grantee is a covered employee within the meaning of Section 162(m)(3), and the Committee
determines to delay the exercise or payment, as the case may be, in respect of any such award, the Committee shall credit cash or, in
the case of an amount payable in Common Stock, the Fair Market Value of the Common Stock, payable to the grantee to a book account. The
grantee shall have no rights in respect of such book account and the amount credited thereto shall not be transferable by the grantee
other than by will or laws of descent and distribution. The Committee may credit additional amounts to such book account as it may determine
in its sole discretion. Any book account created hereunder shall represent only an unfunded, unsecured promise by the Company to pay the
amount credited thereto to the grantee in the future.

 

     

     

    

 

(ii)   With
respect to restricted stock, unrestricted stock or restricted stock units, the Committee may require the grantee to surrender to
the Committee any shares of restricted stock and unrestricted stock (whether by surrender of the applicable stock certificates or cancellation
of any account evidencing such stock ownership) and any restricted stock units, by surrendering the applicable Grant Certificates,
in order to cancel the awards of such restricted stock, unrestricted stock and restricted stock units. In exchange for such cancellation,
the Committee shall credit to a book account a cash amount equal to the Fair Market Value of the shares of Common Stock subject to such
awards. The amount credited to the book account shall be paid to the grantee within 30 days after the date that compensation paid
to the grantee no longer is subject to the deduction limitation under section 162(m) of the Code. The grantee shall have no rights
in respect of such book account and the amount credited thereto shall not be transferable by the grantee other than by will or laws of
descent and distribution. The Committee may credit additional amounts to such book account as it may determine in its sole discretion.
Any book account created hereunder shall represent only an unfunded, unsecured promise by the Company to pay the amount credited thereto
to the grantee in the future.

 

3.9 Right of Discharge Reserved

 

Nothing in the Plan or in
any Grant Certificate shall confer upon any grantee the right to continue his employment or affect any right which the Company may have
to terminate such employment or change the terms of such employment.

 

3.10 Nature of Payments

 

(a)   Consideration
for Services Performed.   Any and all grants of awards and issuances of shares of Common Stock under the Plan shall be
in consideration of services performed for the Company by the grantee.

 

(b)   Not
Taken into Account for Benefits.   All such grants and issuances shall constitute a special incentive payment to the grantee
and shall not be taken into account in computing the amount of salary or compensation of the grantee for the purpose of determining any
benefits under any pension, retirement, profit-sharing, bonus, life insurance or other benefit plan of the Company or under any agreement
between the Company and the grantee, unless such plan or agreement specifically otherwise provides.

 

3.11 Deferred Compensation

 

The Plan is intended to be
exempt form, and to the extent not exempt, to comply with, the requirements of Section 409A of the Code so as not to be subject to
tax under Section 409A, and shall be interpreted accordingly. Notwithstanding anything else herein to the contrary, any payment scheduled
to be made to a grantee after the grantee’s termination of employment shall not be made until the date six months after the
date of the termination of employment, to the extent necessary to comply with Code Section 409A(a)(B)(i) and applicable Treasury
Regulations. Following any such six-month delay, all such delayed payments will be paid in a single lump sum on the date six months
after such termination of employment.

 

3.12 Non-Uniform Determinations

 

The Committee’s determinations
under the Plan need not be uniform and may be made by it selectively among persons who receive, or who are eligible to receive, awards
under the Plan (whether or not such persons are similarly situated). Without limiting the generality of the foregoing, the Committee shall
be entitled, among other things, to make non-uniform and selective determinations, and to enter into non-uniform and selective Grant Certificates,
as to (a) the persons to receive awards under the Plan, (b) the terms and provisions of awards under the Plan, and (c) the
treatment of leaves of absence pursuant to Section 1.6(f).

 

3.13 Other Payments or Awards

 

Nothing contained in the
Plan shall be deemed in any way to limit or restrict the Company from making any award or payment to any person under any other plan,
arrangement or understanding, whether now existing or hereafter in effect.

 

3.14 Headings

 

Any section, subsection,
paragraph or other subdivision headings contained herein are for the purpose of convenience only and are not intended to expand, limit
or otherwise define the contents of such subdivisions.

 

     

     

    

 

3.15 Effective Date and Term of Plan

 

(a)   Adoption.   The
Plan was adopted by the Board on September 9, 2015 and amended and restated on April 23, 2019, which adoption and amendment
and restatement were approved by the shareholders of the Company. The Plan was subsequently amended on April 23, 2021, subject to
approval by the shareholders of the Company. If such approval is not obtained prior to the first anniversary of the adoption of the April 23,
2021 amendment, such amendment shall be null and void.

 

(b)   Termination
of Plan.   Unless sooner terminated by the Board, the Plan shall terminate (i) on September 9, 2025, the tenth
anniversary of the adoption of the Plan by the Board, with respect to the initial 800,000 shares authorized under the Plan, (ii) on
April 23, 2029, with respect to the additional 1,000,000 shares authorized pursuant to the amendment and restatement of the Plan
and (iii) on April 23, 2031, with respect to the additional 1,500,000 shares authorized pursuant to the subsequent amendment
of the Plan. No awards shall be made under the Plan after any such date with respect to the applicable shares. All awards made under the
Plan prior to its termination shall remain in effect until such awards have been satisfied or terminated in accordance with the terms
and provisions of the Plan and the applicable Grant Certificates.

 

3.16 Restriction on Issuance of Stock Pursuant
to Awards

 

The Company shall not permit
any shares of Common Stock to be issued pursuant to awards granted under the Plan unless such shares of Common Stock are fully paid and
non-assessable under applicable law.

 

3.17 Governing Law

 

Except to the extent preempted
by any applicable federal law, the Plan will be construed and administered in accordance with the laws of the State of Delaware, without
giving effect to principles of conflict of laws.EX-10.6

 Certain confidential information contained in this document, marked by [**], has been omitted
because SOPHiA GENETICS SA (SOPHiA) has determined that the information (i) is not material and (ii) is the type that SOPHiA customarily and actually treats as private or confidential. 

Exhibit 10.6 
 AMENDMENT NO.1
TO A MANUFACTURING AND SUPPLY AGREEMENT 
  

			
		
	BETWEEN:	  	SOPHiA GENETICS S.A., a corporation established under the laws of Switzerland, registered at the Swiss Companies Registration Office under number CH-550.1.086.569-3, whose registered office is at Rue du Centre 172, CH-1025 Saint-Sulpice, Switzerland,
		
		  	(hereinafter referred to as “SOPHiA”)
		
	AND:	  	INTEGRATED DNA TECHNOLOGIES, INC., a corporation established under the laws of Delaware with a place of business at [**],
		
		  	(hereinafter referred to as “IDT”)

 RECITALS 

WHEREAS The Parties entered into an “Amended and Restated Manufacturing and Supply Agreement” on October 9th, 2018 (the “Main Agreement”); 

WHEREAS, IDT agrees to provide additional warranties with regard to the shelf-life of a Commercial Product, as such term is defined in the Main Agreement

 WHEREAS the Parties wish to witness their agreement in writing; 
 CONSEQUENTLY, FOR GOOD AND VALUABLE CONSIDERATION, THE PARTIES AGREE TO MODIFY THE AGREEMENT IN GOOD FAITH AS FOLLOWS: 
  

	1.	 RECITALS 

 The recitals
shall be construed as part of this Amendment. 
  

	2.	 AMENDED PROVISION 

 As
of the date of the last signature of this Amendment by the Parties, the Parties hereby agree to modify the Main Agreement by adding a subsection 3.5 immediately following subsection 3.4 of the Main Agreement, which shall read as follows: 

“IDT represents and warrants the Commercial Products delivered under this Agreement shall have a shelf-life of [**] (i.e., an
“expiration date”) from the date where they are delivered to Sophia. Sophia shall be entitled to reject Products that do not comply with this provision, and IDT shall replace any such rejected Product promptly with compliant
Products.” 

	3. 	 NON-AMENDED PROVISIONS 

Any provision that is not expressly modified or mentioned by this Addendum shall remain in force and apply mutatis mutandis between the
Parties. 
 (Signature page follows) 
 Certain confidential information contained in this document, marked by [**], has been omitted because SOPHiA GENETICS SA (SOPHiA) has determined that the information (i) is not material and (ii) is the
type that SOPHiA customarily and actually treats as private or confidential. 

 IN WITNESS WHEREOF, THE PARTIES HAVE AGREED TO SIGN THIS AGREEMENT AS FOLLOWS: 

 

											
	SOPHiA GENETICS S.A.	  	IDT, INC.
				
	By:	 	 /s/ Damien Lapray
	  	By:	 	 /s/ Todd E. McManus

		 	Name:	 	Damien Lapray	  		 	Name:	 	Todd E. McManus
		 	Title: 	 	CCO	  		 	Title: 	 	General Counsel
		 	Date: 	 	5/4/2019	  		 	Date: 	 	4 March 2019
				
	By:	 	 /s/ Valentin Matillon
	  	By:	 	  

		 	Name:	 	Valentin Matillon	  		 	Name:	 	
		 	Title: 	 	CFO	  		 	Title:	 	
		 	Date: 	 	5/4/2019	  		 	Date:	 	

 Certain confidential information contained in this document, marked by [**], has been omitted because SOPHiA
GENETICS SA (SOPHiA) has determined that the information (i) is not material and (ii) is the type that SOPHiA customarily and actually treats as private or confidential.

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