Document:

Restated Incentive Stock Option and Nonstatutory Option Plan

 Exhibit 10.1 
  
 EMBREX, INC. 
  
 AMENDED AND RESTATED 
 INCENTIVE STOCK
OPTION 
 AND NONSTATUTORY STOCK OPTION PLAN 
  
 (Re-adopted May 16, 2002 and most recently amended and restated February 10, 2005) 
  
 1. Purpose  
  
 The purpose of this Incentive Stock Option and Nonstatutory Stock Option Plan (hereinafter referred to as the
“Plan”) is to provide a special incentive to selected individuals (“Participants”) who have made significant contributions to the business of Embrex, Inc. (hereinafter referred to as the “Company”). The Plan is designed
to accomplish this purpose by offering such individuals an opportunity to acquire shares of the Common Stock of the Company so that they will share in the Company’s future growth and success. Options, stock awards, Restricted Stock Units and
Stock Appreciation Rights may be awarded under this Plan and are collectively referred to herein as “awards.” 
  
 2. Administration and Types of Awards  
  
 (a) Administration. The Plan shall be administered by a Compensation Committee (the “Committee”) to be established by the Board of
Directors of the Company (the “Board”). To the extent that the Board determines it to be desirable to qualify awards granted hereunder as “performance-based compensation” within the meaning of Section 162(m) of the Internal
Revenue Code of 1986, as amended (the “Code”), or to qualify transactions hereunder as exempt under Rule 16b-3 under Section 16(b) of the Securities Exchange Act of 1934, as amended (the “1934 Act”), the Compensation Committee
shall consist, as applicable, of two or more “outside directors” within the meaning of Section 162(m) or two or more “non-employee directors” within the meaning of Rule 16b-3. The Committee shall have authority, consistent with
the Plan, 
  
 (1) to grant awards pursuant to this Plan;

  
 (2) to determine which individuals shall be granted awards;

  
 (3) to determine the time or times when awards shall be
granted and the number of shares of Common Stock to be subject to each award; 
  
 (4) to determine the type of award, including the type of option, to be granted pursuant to this Plan; 
  
 (5) to determine the price of the shares subject to each award and the method of payment of such price, as applicable; 
  
 (6) to determine the time or times when each award becomes exercisable and
the duration of the exercise period, as applicable; 
  
 (7) to
prescribe the form or forms of the instruments evidencing any awards granted under the Plan and of any other instruments required under the Plan and to change such forms from time to time; 
  
 (8) to adopt, amend and rescind rules and regulations for the administration
of the Plan and awards granted hereunder and for its own acts and proceedings; and 
  
 (9) to decide all questions and settle all controversies and disputes which may arise in connection with the Plan. All decisions, determinations and interpretations of the Committee shall be binding on all parties
concerned. 
  

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 (b) Types of Options. Pursuant to this Plan, the Company is authorized to grant two types
of options: “incentive stock options” within the meaning of Section 422 of the Code and nonstatutory stock options. 
  
 (c) Stock Awards. Pursuant to this Plan, the Company is authorized to award compensation in the form of stock awards. Stock awards shall be
settled in shares of Common Stock of the Company. 
  
 (d)
Restricted Stock Units. Pursuant to this Plan, the Company is authorized to grant Restricted Stock Units. Restricted Stock Units shall be settled in shares of Common Stock of the Company. 
  
 (e) Stock Appreciation Rights. Pursuant to this Plan, the
Company is authorized to grant Stock Appreciation Rights. Stock Appreciation Rights shall be settled in shares of Common Stock of the Company. 
  
 3. Participants  
  
 (a) Incentive Stock Options. Incentive stock options shall be granted only to Participants who are, at the time of grant, employees of the
Company or of any Parent Corporation or Subsidiary. No Participant shall be granted any incentive stock option under the Plan who, at the time such option is granted, owns, directly or indirectly, Common Stock of the Company possessing more than 10%
of the total combined voting power of all classes of stock of the Company or of any Parent Corporation or Subsidiary, unless the requirements of paragraph (4)(ii) of Section 7(a) are satisfied. A Participant who has been granted an incentive stock
option may, if he or she is otherwise eligible, be granted an additional option or options if the Board shall so determine. 
  
 (b) Nonstatutory Stock Options. Nonstatutory stock options may be granted to Participants who are, at the time of grant, employees,
officers, directors, consultants or advisors of the Company or of any Parent Corporation or Subsidiary or any other parties who have made a significant contribution to the business and success of the Company, as may be selected from time to time by
the Board or Committee in its discretion. A Participant who has been granted a nonstatutory stock option may, if he or she is otherwise eligible, be granted an additional option or options if the Board shall so determine. 
  
 (c) Stock Awards, Restricted Stock Units and Stock Appreciation
Rights. Stock awards, Restricted Stock Units and Stock Appreciation Rights shall be granted, in the sole discretion of the Board or Committee, to Participants who are, at the time of grant, employees, officers, directors, consultants or
advisors of the Company or any Parent Corporation or Subsidiary of the Company, or any other parties who have made a significant contribution to the business and success of the Company. 
  
 4. Stock Subject to the Plan  
  
 Subject to adjustment as provided in Section 17 of the Plan, the maximum number of shares of Common Stock of the Company which may be issued and sold
under the Plan is Three Million Four Hundred Thousand (3,400,000) shares. Such shares may be authorized and unissued shares or may be shares issued and thereafter acquired by the Company. If an award granted under the Plan shall expire or terminate
for any reason without having been exercised or settled in full, the shares subject to such award shall again be available for subsequent grants under the Plan. Stock issuable upon exercise of an award granted under the Plan may be subject to such
restrictions on transfer, repurchase rights or other restrictions as shall be determined by the Board or the Committee. 
  
 5. Forms of Option Agreements  
  
 As a condition to the grant of any award under the Plan, each recipient of an award shall execute an agreement in a form not inconsistent with the Plan as
shall be specified by the Board or the Committee at the time such award is authorized to be granted. 
  
 6. Annual Limitations 
  
 The following limitations shall apply to grants of options: 
  
 (a) No Participant shall be granted, in any fiscal year of the Company, options to purchase more than 300,000 shares of Common Stock. 
  

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 (b) In connection with his or her initial service, a Participant may be granted options to
purchase up to an additional 300,000 shares of Common Stock which shall not count against the limit set forth in Section 6(a) above. 
  
 (c) The foregoing limitations shall be adjusted proportionately in connection with any change in the Company’s capitalization as described in
Section 17 hereof. 
  
 (d) If an option is canceled in the
same fiscal year of the Company in which it was granted (other than in connection with a transaction described in Section 18) hereof, the canceled option will be counted against the limits set forth in Section 6(a) and Section 6(b) above. For this
purpose, if the exercise price of an option is reduced, the transaction will be treated as a cancellation of the option and the grant of a new option. 
  
 7. Terms and Conditions of Options  
  
 All options granted under the Plan shall be subject to the following terms and conditions (except as provided in Section 11 hereof) and to such other
terms and conditions as the Board or Committee shall determine to be appropriate to accomplish the purposes of the Plan: 
  
 (a) Incentive Stock Options  
  
 (1) Purchase Price. The purchase price per share of stock deliverable upon exercise of an option shall be determined by the Board or
Committee on the date such option is granted; provided, however, that the exercise price shall not be less than 100% of the fair market value of such stock, as determined by the Board, at the grant of such option, or less than 110% of such fair
market value in the case of options described in paragraph (4)(ii) of Section 7(a) hereof. 
  
 (2) Option Period. Each option shall expire on such date as the Board or the Committee shall determine on the date such option is granted, but in no event after the expiration of ten years from the day
on which the option is granted (or five years in the case of options described in paragraph (4)(ii) of Section 7(a) hereof), and shall be subject to earlier termination as provided in the Plan. 
  
 (3) Termination of Employment. No option may be exercised
unless, at the time of such exercise, the Participant is, and has been, since the date of grant of his or her option, continuously employed by one or more of the Company, a Parent Corporation or a Subsidiary, except that if and to the extent the
option agreement or instrument so provides: 
  
 (i) the option
may be exercised within such period of time as is specified in the option agreement to the extent that the option is vested on the date of termination (but in no event later than the expiration of the term of such option as set forth in the option
agreement). In the absence of a specified time in the option agreement, the option shall remain exercisable for three (3) months following the Participant’s termination; 
  
 (ii) if the Participant dies while in the employ of the Company, a Parent Corporation or a Subsidiary or within three
months after the Participant ceases to be such an employee, the option may be exercised within such period of time as is specified in the option agreement to the extent that the option is vested on the date of death (but in no event later than the
expiration of the term of such option as set forth in the option agreement) by the Participant’s estate or by a person who acquires the right to exercise the option by bequest or inheritance. In the absence of a specified time in the option
agreement, the option shall remain exercisable for twelve (12) months following the Participant’s death; and 
  
 (iii) if the Participant becomes disabled (within the meaning of Section 22(e)(3) of the Code) while in the employ of the Company, a Parent Corporation
or Subsidiary, and ceases to be an employee as a result of such disability (a “Disability”), the Participant may exercise his or her option within such period of time as is specified in the option agreement to the extent the option is
vested on the date of termination, but in no event 
  

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 later than the expiration date of the term of such option as set forth in the option agreement. In the absence of a
specified time in the option agreement, the option shall remain exercisable for twelve (12) months following the Participant’s termination; 
  
 (iv) if the Participant ceases his or her employment with the Company, a Parent Corporation or Subsidiary because he or she is discharged for cause, the
right to exercise the option shall terminate immediately upon such cessation of employment; provided, however, that in no event may any option be exercised after the expiration date of the option nor may any option be exercised to an extent greater
than that exercisable on the last day of the Participant’s employment. For all purposes of the Plan and any award granted hereunder, “employment” shall be defined in accordance with the provisions of Section 1.421-7(h) of the Income
Tax Regulations (or any successor regulations). 
  
 (4)
Limitations. 
  
 (i) Dollar Limitation.
The aggregate fair market value (determined as of the respective date or dates of grant) of the Common Stock with respect to which incentive stock options granted to any employee under the Plan (and under any other incentive stock option plans
of the Company, and any Parent Corporation and Subsidiary) are exercisable for the first time shall not exceed $100,000 in any one calendar year. In the event that Section 422 of the Code is amended to alter the limitation set forth therein so that
following such amendment such limitation shall differ from the limitation set forth in this paragraph, the limitation of this paragraph shall be automatically adjusted accordingly. 
  
 (ii) Ten Percent Shareholder. If any employee to whom an option is to be granted under the Plan is at the
time of the grant of such option the owner of stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or of any Parent Corporation or any Subsidiary, then the following special provisions shall be
applicable to the option granted to such individual: the purchase price per share of the Common Stock subject to such option shall not be less than 110% of the fair market value of one share of Common Stock at the time of grant and the option
exercise period shall not exceed five years from the date of grant. 
  
 (b) Nonstatutory Stock Options  
  
 (1)
Purchase Price. The purchase price per share of stock deliverable upon exercise of an option shall be determined by the Board or Committee on the date such option is granted; provided, however, that the exercise price shall not be less
than one hundred percent (100%) of the fair market value of such stock, as determined by the Board or Committee, at the grant of such option. 
  
 (2) Option Periods. The period of an option shall not exceed ten years from the date of grant. 
  
 (3) Termination of Service. No option may be exercised unless,
at the time of such exercise, the Participant is, and has been continuously since the date of grant of his or her option, providing services to one or more of the Company, a Parent Corporation or a Subsidiary, except that if and to the extent the
option agreement or instrument so provides: 
  
 (i) the option
may be exercised within such period of time as is specified in the option agreement to the extent that the option is vested on the date of termination (but in no event later than the expiration of the term of such option as set forth in the option
agreement). In the absence of a specified time in the option agreement, the option shall remain exercisable for three (3) months following the Participant’s termination; 
  
 (ii) if the Participant dies while providing services to the Company, a Parent Corporation or a Subsidiary or within three
months after the Participant ceases to provide such services, the option may be exercised within such period of time as is specified in the option agreement to the extent that the option is vested on the date of death (but in no event later than the
expiration of the term of such option as set forth in the option agreement) by the Participant’s estate or by a person who acquires the right to exercise the option by bequest or inheritance. In the absence of a specified time in the option
agreement, the option shall remain exercisable for twelve (12) months following the Participant’s death; and 
  

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 (iii) if the Participant ceases to provide services to the Company, a Parent Corporation or Subsidiary
as a result of a Disability, the Participant may exercise his or her option within such period of time as is specified in the option agreement to the extent the option is vested on the date of termination, but in no event later than the expiration
date of the term of such option as set forth in the option agreement. In the absence of a specified time in the option agreement, the option shall remain exercisable for twelve (12) months following the Participant’s termination; 
  
 (iv) if the Participant ceases to provide services to the Company, a Parent
Corporation or Subsidiary because he or she is discharged for cause, the right to exercise the option shall terminate immediately upon such termination; provided, however, that in no event may any option be exercised after the expiration date of the
option nor may any option be exercised to an extent greater than that exercisable on the last day of the Participant’s service. 
  
 (4) Director Options. Notwithstanding the Committee’s authority to administer the Plan as set forth in Section 2(a) hereinabove,
options shall be granted to all nonofficer members of the Board upon their initial election to the Board and on an annual basis without further action by the Committee or the Board. Each qualifying director shall receive an option to purchase 2,500
shares at the fair market value of such shares on the date of grant upon his or her initial election or appointment to the Board and shall receive annually an option to purchase 5,000 additional shares at the fair market value of such shares on the
date of grant. Director options shall be exercisable for a full ten-year period, whether or not a director remains with the Company for the entire period, and the vesting schedule for director options shall be at the discretion of the Committee. If
a director has not qualified for an annual award under the schedule above because he or she was not still a director at the time of the annual grant, whether by reason of resignation, removal or death, the Committee shall, in its sole discretion,
determine whether or not an option shall be awarded and the number of shares purchasable under any such option. 
  
 8. Exercise of Options  
  
 (a) Exercisability. Each option granted under the Plan shall be exercisable either in full or in installments at such time or times,
and during such period, as shall be set forth in the agreement evidencing such option; provided, however, that no option granted under the Plan shall have a term in excess of ten years from the date of grant. 
  
 (b) Manner of Exercise; Consideration. A person electing
to exercise an option shall give written notice to the Company, as specified by the Board or Committee, of his election and of the number of shares he/she has elected to purchase, such notice to be accompanied by such instruments or documents as may
be required by the Board or Committee, and unless otherwise directed by the Board or Committee shall at the time of such exercise tender the purchase price in cash of the shares he/she has elected to purchase. For all nonstatutory stock options
granted prior to April 30, 1998 and for all nonstatutory and all incentive stock options issued after April 30, 1998, payment of the purchase price of the shares may be made, at the discretion of the Participant, and to the extent permitted by the
Board or Committee, (i) in cash, (ii) in Common Stock of the Company (valued at the fair market value thereof on the date of exercise) through the surrender of previously held shares of Common Stock of the Company (by delivery of stock certificates
in negotiable form), (iii) by a combination of cash and Common Stock of the Company or (iv) with any other consideration (including payment in accordance with a cashless exercise program under which, if so authorized by the Participant, shares of
Common Stock of the Company may be issued directly to the Participant’s broker or dealer upon receipt of the purchase price in cash from the broker or dealer). 
  
 9. Payment for Issuance of Shares  
  

(a) Partial Payment. Subject to applicable law, the Board or Committee may in its sole discretion permit the issuance of stock upon a
partial payment under any plan it deems reasonable, provided that the then unpaid portion of the purchase price shall be evidenced by a promissory note at such rate of interest and upon such other terms and conditions as the Board or Committee shall
deem appropriate. In all cases where stock is issued for less than present full payment of the purchase price, there shall be placed upon the certificate a legend setting forth the amount paid at issuance, and the amount remaining unpaid thereon,
and that the shares are subject to call for the remainder and may not be transferred by the holder until the balance due thereon shall be fully paid. 
  

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 (b) Limitations. The Company shall not be obligated to issue any shares unless and until,
in the opinion of the Company’s counsel, all applicable laws and regulations have been complied with, nor, in the event the outstanding Common Stock is at the time listed upon any stock exchange, unless and until the shares to be issued have
been listed or authorized to be added to the list upon official notice of issuance upon such exchange, nor unless or until all other legal matters in connection with the issuance and delivery of shares have been approved by the Company’s
counsel. Without limiting the generality of the foregoing, the Company may require from the Participant such investment representation or such agreement, if any, as counsel for the Company may consider necessary in order to comply with the
Securities Act of 1933 as then in effect, and may require that the Participant agree that any sale of the shares will be made only in such manner as is permitted by the Board or Committee and that the Participant will notify the Company when he/she
intends to make any disposition of the shares whether by sale, gift or otherwise. The Participant shall take any action reasonably requested by the Company in such connection. A Participant shall have the rights of a shareholder only as to shares
actually acquired by him/her under the Plan. 
  
 10. Nontransferability of
Options  
  
 Unless determined otherwise by the
Committee, an option may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Participant, only by the
Participant. If the Committee makes an option transferable, such option shall contain such additional terms and conditions as the Committee deems appropriate. 
  

11. Replacement Options  
  
 The Company may grant options under the Plan on terms differing from those provided for in Section 7 where such options are granted in substitution for
options held by employees of other corporations who concurrently become employees of the Company or a Subsidiary as the result of a merger, consolidation or other reorganization of the employing corporation with the Company or Subsidiary, or the
acquisition by the Company or a Subsidiary of the business, property or stock of the employing corporation. The Committee may direct that the substitute options be granted on such terms and conditions as the Board or Committee considers appropriate
in the circumstances. 
  
 12. Stock Awards  
  
 Stock awards are awards payable to Participants in shares of Common Stock.
Stock awards may be granted either alone or in addition to cash awards. The Board or the Committee, in its sole discretion, shall determine eligibility, the number of shares covered by stock awards and all other terms and conditions of stock awards,
which need not be identical with respect to all stock awards. 
  
 13.
Restricted Stock Units 
  
 (a) Grants of
Restricted Stock Units. A Restricted Stock Unit shall entitle the Participant to receive one share of Common Stock at such future time and upon such terms as specified by the Board or the Committee in the agreement evidencing such award (the
“Restricted Stock Unit Agreement”). The Board or the Committee may grant Restricted Stock Units that vest on the service of the Participant or on the attainment of performance goals determined by the Board or the Committee. 

	

  
 (b)
Vesting of Restricted Stock Units. The Committee shall establish the vesting schedule applicable to Restricted Stock Units and shall specify the vesting and/or performance goal requirements in the Restricted Stock Unit Agreement. Until
the end of the period(s) of time specified in the vesting schedule and/or the satisfaction of any performance criteria, the Restricted Stock Units shall remain subject to forfeiture. 

	

  
 (c)
Exercise. The terms and conditions of exercise of Restricted Stock Units shall be determined by the Committee and shall be set forth in the Restricted Stock Unit Agreement. As determined by the Committee, exercise of Restricted Stock
Units may occur automatically upon vesting or may occur in conjunction with an election by the Participant to defer receipt of shares subject to the Restricted Stock Unit. 
  

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 (d) Restricted Stock Unit Agreement. Each grant of Restricted Stock Unit(s) shall be
evidenced by a Restricted Stock Unit Agreement that shall specify the terms, conditions and restrictions regarding the Participant’s right to receive share(s) in the future, and shall incorporate such other terms and conditions as the Board or
Committee, acting in its sole discretion, deems consistent with the terms of this Plan. 
  
 (e) Non-Transferability of Restricted Stock Units. Unless determined by the Board or Committee, no Restricted Stock Unit granted under the Plan may be sold, transferred, pledged, assigned or otherwise
alienated or hypothecated by the holder Participant, except upon the death of the holder Participant by will or by the laws of descent and distribution. 
  
 (f) Voting, Dividend & Other Rights. Restricted Stock Units shall not entitle a Participant to vote or to receive dividends until the
Participant becomes the owner of the shares subject to the Restricted Stock Units. 
  
 14. Stock Appreciation Rights 
  
 (a)
Grant of Stock Appreciation Rights. A Stock Appreciation Right shall entitle the Participant to receive shares of Common Stock upon exercise equal to the excess of the fair market value of a share of Common Stock at the time of exercise,
over a specified price, which shall not be less than one hundred percent (100%) of the fair market value of the share, subject to the Stock Appreciation Right on the date the Stock Appreciation Right is granted. 
  
 (b) Vesting of Stock Appreciation Rights. The Committee shall
establish the vesting schedule applicable to Stock Appreciation Rights and shall specify the times, vesting and performance goal requirements in the agreement evidencing such award (the “Stock Appreciation Rights Agreement”). Until the end
of the period(s) of time specified in the vesting schedule and/or the satisfaction of any performance criteria, the Stock Appreciation Rights shall remain subject to forfeiture. 
  
 (c) Exercise. Upon exercise of Stock Appreciation Rights, the Company shall issue to the Participant shares
equal to the appreciation of the Stock Appreciation Rights. 
  
 (d) Termination of Service. No Stock Appreciation Right may be exercised unless, at the time of such exercise, the Participant is, and has been, since the date of grant of his or her Restricted Stock Unit, continuously
providing services to one or more of the Company, a Parent Corporation or a Subsidiary, except that if and to the extent the Stock Appreciation Rights Agreement or instrument so provides: 
  
 (i) the Stock Appreciation Right may be exercised within such period of
time as is specified in the Stock Appreciation Right Agreement to the extent that the Stock Appreciation Right is vested on the date of termination (but in no event later than the expiration of the term of such Stock Appreciation Right as set forth
in the Stock Appreciation Right Agreement). In the absence of a specified time in the Stock Appreciation Right Agreement, the Stock Appreciation Right shall remain exercisable for three (3) months following the Participant’s termination;

  
 (ii) if the Participant dies while providing services to the
Company, a Parent Corporation or a Subsidiary or within three months after the Participant ceases to provide such service, the Stock Appreciation Right may be exercised within such period of time as is specified in the Stock Appreciation Right
Agreement to the extent that the Stock Appreciation Right is vested on the date of death (but in no event later than the expiration of the term of such Stock Appreciation Right as set forth in the Stock Appreciation Right Agreement) by the
Participant’s estate or by a person who acquires the right to exercise the Stock Appreciation Right by bequest or inheritance. In the absence of a specified time in the Stock Appreciation Right Agreement, the Stock Appreciation Right shall
remain exercisable for twelve (12) months following the Participant’s death; and 
  
 (iii) if the Participant ceases to provide service as a result of a Disability, the Participant may exercise his or her Stock Appreciation Right within such period of time as is specified in the Stock Appreciation

  

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 Right Agreement to the extent the Stock Appreciation Right is vested on the date of termination, but in no event later
than the expiration date of the term of such Restricted Stock Unit as set forth in the Stock Appreciation Right Agreement. In the absence of a specified time in the Stock Appreciation Right Agreement, the Stock Appreciation Right shall remain
exercisable for twelve (12) months following the Participant’s termination; 
  
 (iv) if the Participant ceases to provide services to the Company, a Parent Corporation or Subsidiary because he or she is discharged for cause, the right to exercise the Stock Appreciation Right shall terminate
immediately upon such cessation of services; provided, however, that in no event may any Stock Appreciation Right be exercised after the expiration date of the Stock Appreciation Right nor may any Stock Appreciation Right be exercised to an extent
greater than that exercisable on the last day of the Participant’s service. 
  
 (e) Stock Appreciation Rights Agreement. Each grant of Stock Appreciation Rights shall be evidenced by a Stock Appreciation Rights Agreement that shall specify the terms, conditions and
restrictions regarding the Participant’s right to receive share(s) in the future, and shall incorporate such other terms and conditions as the Board or Committee, acting in its sole discretion, deems consistent with the terms of this Plan.

  
 (f) Non-Transferability of Stock Appreciation
Rights. Except as otherwise, no Stock Appreciation Right granted under the Plan may be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, except upon the death of the holder Participant by will or by the laws of
descent and distribution. 
  
 (g) Voting, Dividend &
Other Rights. Stock Appreciation Rights shall not entitle a Participant to vote or to receive dividends until the Participant becomes the owner of the shares subject to the Stock Appreciation Rights. 
  
 15. General Restrictions  
  
 (a) Investment Representation. The Company may require any
person to whom an award is granted, to give written assurances in substance and form satisfactory to the Company to the effect that such person is acquiring the Common Stock subject to the award for his or her own account for investment and not with
any present intention of selling or otherwise distributing the same, and to such other effects as the Company deems necessary or appropriate in order to comply with Federal and applicable state securities laws. 
  
 (b) Compliance with Securities Laws. Each award shall be
subject to the requirement that, if at any time counsel to the Company shall determine that the listing, registration or qualification of the shares subject to such award upon any securities exchange or under any state or Federal law, or the consent
or approval of any governmental or regulatory body, is necessary as a condition of, or in connection with, the issuance or purchase of shares thereunder, such award may not be accepted or exercised in whole or in part unless such listing,
registration, qualification, consent or approval shall have been effected or obtained on conditions acceptable to the Board. Nothing herein shall be deemed to require the Company to apply for or to obtain such a listing, registration or
qualification. 
  
 16. Rights as a Shareholder  
  
 The holder of an award shall have no rights as a shareholder with respect to
any shares covered by the award until the date of issue of a stock certificate to him or her for such shares. Except as otherwise expressly provided in the Plan, no adjustments shall be made for dividends or other rights for which the record date is
prior to the date such stock certificate is issued. 
  
 17. Recapitalization
 
  
 In the event that the outstanding shares of Common
Stock of the Company are changed into or exchanged for a different number or kind of shares or other securities of the Company by reason of any recapitalization, reclassification, stock split, stock dividend, combination or subdivision, appropriate
adjustments shall be made in the number and kind of shares available under the Plan and under any awards granted under the Plan. Such adjustments to outstanding awards shall be made without change in the total price applicable to the unexercised
portion of such awards, and a corresponding adjustment in the applicable option price per share shall be made. No such adjustment 
  

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 shall be made which would, within the meaning of any applicable provisions of the Code, constitute a modification,
extension or renewal of any option or a grant of additional benefits to the holder of an option or which would cause any incentive stock option to fail to continue to qualify as an incentive stock option within the meaning of Section 422 of the
Code. 
  
 18. Reorganization  
  
 In case the Company is merged or consolidated with another corporation and
the Company is not the surviving corporation, or in case all or substantially all of the assets or more than 50% of the outstanding voting stock of the Company is acquired by any other corporation, or in case of a reorganization or liquidation of
the Company, the Board or the board of directors of any corporation assuming the obligations of the Company, shall, as to outstanding awards, either (i) make appropriate provisions for the protection of any such outstanding awards by the
substitution on an equitable basis of appropriate stock of the Company, or of the merged, consolidated or otherwise reorganized corporation which will be issuable in respect of the shares of Common Stock of the Company, provided that no additional
benefits shall be conferred upon Participants as a result of such substitution, and the excess of the aggregate fair market value of the shares subject to the awards immediately after such substitution over the purchase price thereof shall not be
more than the excess of the aggregate fair market value of the shares subject to such awards immediately before such substitution over the purchase price thereof, or (ii) provide written notice to the Participants that all unexercised awards must be
exercised within a specified number of days of the date of such notice or they will be terminated. In any such case, the exercise dates of outstanding awards shall automatically accelerate and the awards shall become fully vested and exercisable as
of the date of such notice and shall remain exercisable for such specified period of days thereafter. 
  
 19. No Special Rights  
  
 In the event the holder of an award is also an employee of, or has any other relationship with, the Company, nothing contained in this Plan or in any award granted under the Plan shall confer upon any holder of an award any right with
respect to the continuation of his or her employment or other relationship with the Company (or any Parent Corporation or Subsidiary), nor shall it interfere in any way with the right of the Company (or any Parent Corporation or Subsidiary) at any
time to terminate such employment or other relationship or to increase or decrease the compensation of the holder of the award from the rate in existence at the time of the grant of an award. Whether an authorized leave or absence, or absence in
military or governmental service, shall constitute termination or cessation of employment for purposes of this Plan shall be determined by the Board, except as regulated by law. 
  
 20. Definitions  
  
 (a) Subsidiary. The term “Subsidiary” as used in the Plan shall mean any corporation in an unbroken chain of corporations
beginning with the Company if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.

  
 (b) Parent Corporation. The term
“Parent” and “Parent Corporation” as used in the Plan shall mean any corporation (other than the Company) in an unbroken chain of corporations ending with the Company if each of the corporations other than the Company owns stock
possessing 50% or more of the combined voting power of all classes of stock in one of the other corporations in such chain. 
  
 21. Amendment 
  
 The Board or the Committee may at any time discontinue granting awards under the Plan. In addition, the Board may at any time and from time to time modify
or amend the Plan in any respect, except that any modification or amendment of the Plan shall be subject to shareholder approval when applicable NASD rules or SEC or IRS regulations would require such approval. The modification or amendment of the
Plan shall not, without the consent of a Participant, affect his or her rights under an award previously granted to him or her; provided, however, that with the consent of the Participant affected, the Board may amend outstanding awards in a manner
not inconsistent with the Plan and, with respect to incentive stock options, the Board shall have the right to amend or modify the terms and provisions of the Plan and of any such options outstanding granted under the Plan to the extent necessary to
qualify any or all such options for favorable income tax treatment (including deferral of taxation upon exercise) as may be afforded incentive stock options under Section 422 of the Code. 
  

 9 

 22. Withholding  
  

The Company’s obligation to deliver shares upon the exercise of any award granted under the Plan shall be subject to the holder’s
satisfaction of all applicable Federal, state and local tax withholding requirements. 
  
 23. Section 16 Compliance  
  
 With
respect to persons subject to Section 16 of the 1934 Act, transactions under this Plan are intended to comply with all applicable conditions of Rule 16b-3 or its successor rules under the 1934 Act. To the extent that any provision of this Plan or
action by the Committee or Board fails to so comply, such provision or action shall be deemed null and void to the extent permitted by law and deemed advisable by the Committee or Board. 
  
 24. Effective Date and Duration of the Plan  
  
 (a) Effective Date. The Plan shall become effective when adopted by the Board, but no award granted under the
Plan shall become exercisable and no stock award shall be granted unless and until the Plan shall have been approved by the Company’s shareholders. If such shareholder approval is not obtained within twelve months after the date of the
Board’s adoption of the Plan, any awards previously granted under the Plan shall terminate and no further awards shall be granted. Subject to this limitation, awards may be granted under the Plan at any time after the effective date and before
the date fixed for termination of the Plan. 
  
 (b)
Termination. The Plan shall terminate upon the earlier of (i) the close of business on the day preceding the tenth anniversary of the date of its adoption by the Board, or (ii) the date on which all shares available for issuance under the
Plan shall have been issued pursuant to the exercise or cancellation of awards granted under the Plan. If the date of termination is determined under (i) above, awards outstanding on such date shall continue to have force and effect in accordance
with the provisions of the instruments evidencing such grants. 
  

 10Form of Stock Appreciation Right Agreement

 Exhibit 10.2 
  
 EMBREX, INC. 
  
 AMENDED AND RESTATED INCENTIVE STOCK OPTION 
 AND NONSTATUTORY STOCK OPTION PLAN 
  
 STOCK
APPRECIATION RIGHT AGREEMENT 
  
 Unless otherwise defined
herein, the terms defined in the Amended and Restated Incentive Stock Option and Nonstatutory Stock Option Plan, as amended (the “Plan”) shall have the same defined meanings in this Stock Appreciation Rights Agreement. 
  
 I. NOTICE OF GRANT OF STOCK APPRECIATION RIGHT  
  
 «First_Name» «Last_Name» 
 «Address_Line_1» 
 «Address_Line_2» 
 «Address_Line_3» 
  
 You have been granted a stock appreciation right (a “SAR”) that entitles you to receive shares of common stock of
the Company, $.01 par value per share (the “Common Stock”), equal in value to the difference between the Base Value of the SAR (defined below) and the fair market value of the Common Stock on the date of exercise, multiplied times the
number of shares as to which the SAR is exercised. The SAR is subject to the terms and conditions of the Plan and the SAR Agreement, as follows: 
  

					
	Grant Number	  	«Number»	  	 
			
	Date of Grant	  	«SAR_Date»	  	 
			
	Vesting Commencement Date	  	«VC_Date»	  	 
			
	Base Value per Share	  	$«Base_Value»	  	 
			
	Total Number of Shares	  	«Shares»	  	 
			
	Term/Expiration Date:	  	«Exp_Date»	  	 

  
 Vesting
Schedule: 
  
 Subject to the further terms of this Agreement,
the SAR shall be exercisable, in whole or in part, according to the following vesting schedule: 
  
 25% of the shares subject to the SAR shall vest on each of the first four anniversaries of the Vesting Commencement Date if you continue to be an employee
or director of the Company or any Parent or Subsidiary (a “Service Provider”) on such dates. 
  
 Period for Exercise Following Termination: 
  
 The SAR shall be exercisable for 90 days after you cease to be a Service Provider. Upon your death or disability, the SAR may be exercised for one year
after you cease to be a Service Provider. In no event may the SAR be exercised later than the Term/Expiration Date as provided above. 
  

 11 

 II. AGREEMENT 
  
 1. Grant of SAR. The Committee hereby grants to the grantee named in the Notice of Grant in Part I of this Agreement (the “Grantee”) a
SAR that entitles the Grantee to receive upon exercise shares of Common Stock of the Company equal in value to the difference between the Base Value of the SAR and the fair market value per share on the date of exercise, multiplied times the number
of shares as to which the SAR is exercised, subject to the terms and conditions of this Agreement and the Plan, which is incorporated herein by reference. The shares the Grantee shall be entitled to receive on exercise of the SAR are referred to
herein as the “Delivered Shares.” Subject to Section 21 of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Agreement, the terms and conditions of the Plan shall
prevail. 
  
 2. Exercise. 
  
 (a) Right to Exercise. The SAR shall be exercisable during its term
in accordance with the Vesting Schedule set out in the Notice of Grant and with the applicable provisions of the Plan and this Agreement. 
  
 (b) Acceleration of Vesting. Upon the occurrence of (i) any of the events described in Section 18 of the Plan that cause the vesting of awards
granted under the Plan to accelerate or (ii) any other event described in another agreement then in effect between the Company and Grantee that causes the vesting of awards granted under the Plan to accelerate, any portion of the SAR that is not
vested at such time shall become fully vested, in addition to any portion that previously has vested. 
  
 (c) Effect of Termination of Service on Unvested SAR. Subject to the provisions of any employment, severance or similar agreement to the contrary
between the Grantee and the Company or any Parent or Subsidiary, in the event the Grantee altogether ceases to provide services to the Company (or any Parent or Subsidiary) for any reason, the Grantee shall forfeit any portion of the SAR that is not
vested on the date of termination. For purposes of this Section 2(c), a change of status from employee to director, or vice versa, shall not be deemed a termination of service. 
  
 (d) Method of Exercise. The SAR shall be exercisable by delivery of a completed exercise notice in the form attached
as Exhibit A (the “Exercise Notice”). The Exercise Notice shall state the election to exercise the SAR, the number of shares with respect to which the SAR is being exercised, and such other representations and agreements as may be
required by the Company. The SAR shall be deemed to be exercised upon receipt by the Stock Plan Administrator of the completed Exercise Notice. 
  
 (e) Delivery of Shares. 
  
 (i) As soon as practicable following exercise of the SAR and satisfaction of the Grantee’s responsibility for the Tax-Related Items (defined below),
the Company shall issue the Delivered Shares to the Grantee in written or electronic form, as the Committee may determine. 
  
 (ii) No shares shall be delivered unless the exercise of the SAR and such issuance complies with the applicable registration requirements of the
Securities Act of 1933, as amended, any applicable listing requirement of any national securities exchange on which stock of the same class is then listed, and any other requirements of federal, state or local law or of any regulatory bodies having
jurisdiction over such issuance and exercise. Assuming such compliance, for tax purposes the Delivered Shares shall be considered issued to the Grantee on the date the SAR is exercised as to such shares. 
  
 3. Nature of Grant. In accepting the grant, the Grantee acknowledges
that: 
  
 (a) The Company has established the Plan voluntarily,
it is discretionary in nature and the Company may modify, amend, suspend or terminate it at any time, unless otherwise provided in the Plan and the SAR Agreement; 
  

 12 

 (b) The grant of the SAR is voluntary and occasional and does not create any contractual or other right
to receive future grants of SARs, or benefits in lieu of SARs, even if SARs have been granted repeatedly in the past; 
  
 (c) All decisions with respect to future SAR grants, if any, will be at the sole discretion of the Company; 
  
 (d) The Grantee’s participation in the Plan does not create a right to
further employment with the Employer and shall not interfere with the ability of the Employer to terminate the Grantee’s employment relationship at any time with or without cause; 
  
 (e) The Grantee is voluntarily participating in the Plan; 
  
 (f) The SAR is an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to
the Company or the Employer, and it is outside the scope of the Grantee’s employment contract, if any; 
  
 (g) The SAR is not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance,
resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; 
  
 (h) In the event that the Grantee is not an employee of the Company, the SAR grant will not be interpreted to form an employment contract or relationship
with the Company or any Parent or Subsidiary or the Employer; 
  
 (i) The future value of the underlying shares is unknown and cannot be predicted with certainty; 
  
 (j) If the underlying shares do not increase in value, the SAR will have no value; 
  
 (k) If the Grantee exercises the SAR and obtains Delivered Shares, the value of those Delivered Shares may increase or
decrease in value, even below the Base Value; 
  
 (l) In
consideration of the grant of the SAR, no claim or entitlement to compensation or damages shall arise from termination of the SAR or diminution in value of the SAR or the Delivered Shares resulting from termination of the Grantee’s employment
by the Company or the Employer (for any reason whatsoever and whether or not in breach of local labor laws), and the Grantee irrevocably releases the Company and the Employer from any such claim that may arise; if, notwithstanding the foregoing, any
such claim is found by a court of competent jurisdiction to have arisen, then, by signing this Agreement, the Grantee shall be deemed irrevocably to have waived his or her entitlement to pursue such claim; and 
  
 (m) Notwithstanding any terms or conditions of the Plan to the contrary, in
the event of involuntary termination of the Grantee’s service as an employee or director (whether or not in breach of local labor laws), the Grantee’s right to receive the SAR and vest in the SAR under the Plan, if any, will terminate
effective as of the date that the Grantee is no longer actively providing service and will not be extended by any notice period mandated under local law (e.g., active employment would not include a period of “garden leave” or
similar period pursuant to local law); furthermore, in the event of involuntary termination of service (whether or not in breach of local labor laws), the Grantee’s right to exercise the SAR after termination of service, if any, will be
measured by the date of termination of the Grantee’s active service and will not be extended by any notice period mandated under local law; the Committee shall have the exclusive discretion to determine when the Grantee is no longer actively
providing service for purposes of the SAR grant. 
  
 4.
Non-Transferability of SAR. The SAR may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of the Grantee only by the Grantee. The terms of the Plan and
the SAR Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of the Grantee. 
  

 13 

 5. Rights as a Shareholder. The Grantee shall not have voting or any other rights as a shareholder
with respect to the SAR prior to exercise and the delivery of the Delivered Shares. 
  
 6. Responsibility for Taxes. Regardless of any action the Company or the Grantee’s employer (the “Employer”) may take with respect to any or all income tax, primary and secondary Class 1 National
Insurance contributions (if the Grantee is subject to U.K. tax laws), payroll tax, or other tax-related withholding (“Tax-Related Items”), the Grantee acknowledges that the ultimate liability for all Tax-Related Items legally due by the
Grantee is and remains his or her responsibility and that the Company and/or the Employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the SAR, including the grant,
vesting, exercise, assignment, release or cancellation of the SAR, the subsequent sale of the Delivered Shares acquired pursuant to the exercise of the SAR and the receipt of any dividends; and (ii) do not commit to structure the terms of the grant
or any aspect of the SAR to reduce or eliminate the Grantee’s liability for Tax-Related Items. 
  
 As a condition to exercising the SAR, the Grantee agrees to pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy
all withholding obligations of the Company and/or the Employer. If the Grantee is subject to U.K. tax laws, such payment or arrangement must be completed by the Due Date, which is 90 days, or such other period as required under U.K. law, after the
grant, vesting, exercise, assignment, release or cancellation of the SAR, as applicable (the “Chargeable Event”). In this regard, the Grantee authorizes the Company and/or the Employer to withhold all applicable Tax-Related Items legally
payable by the Grantee from his or her wages or other cash compensation paid to the Grantee by the Company and/or the Employer or from proceeds of the sale of the Delivered Shares. Alternatively, or in addition, if permissible under local law, the
Company may sell or arrange for the sale of Delivered Shares sufficient to meet the withholding obligation for Tax-Related Items. The Grantee shall pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer
may be required to withhold with respect to the Chargeable Event that cannot be satisfied by the means previously described. If the Grantee is subject to U.K. tax laws and if payment or withholding is not made by the Due Date, the Grantee agrees
that the amount of any uncollected Tax-Related Items shall constitute a loan owed by the Grantee to the Employer, effective on the Due Date. The Grantee agrees that the loan will bear interest at the then-current Inland Revenue Official Rate and it
will be immediately due and repayable, and the Company and/or the Employer may recover it at any time thereafter by any of the means referred to above. If any of the foregoing methods of collection are not allowed under applicable law or if the
Grantee fails to comply with his or her obligations in connection with the Tax-Related Items as described in this section, the Company may refuse to honor the exercise and to deliver the Delivered Shares acquired under the Plan. 
  
 7. Data Privacy. The Grantee hereby explicitly and unambiguously
consents to the collection, use and transfer, in electronic or other form, of his or her personal data as described in the SAR Agreement by and among, as applicable, the Employer, the Company and any Parent or Subsidiary for the exclusive purpose of
implementing, administering and managing the Grantee’s participation in the Plan. 
  
 The Grantee understands that the Company and the Employer may hold certain personal information about him or her, including, but not limited to, the Grantee’s name, home address and telephone number, date
of birth, social insurance number or other identification number, salary, nationality, job title, any shares or directorships held in the Company, details of all SARs or any other entitlement to shares awarded, canceled, exercised, vested, unvested
or outstanding in the Grantee’s favor, for the purpose of implementing, administering and managing the Plan (“Data”). The Grantee understands that Data may be transferred to any third parties assisting in the implementation,
administration and management of the Plan, that these recipients may be located in the Grantee’s country or elsewhere, and that the recipient’s country may have different data privacy laws and protections than the Grantee’s country.
The Grantee understands that he or she may request a list with the names and addresses of any potential recipients of the Data by contacting his or her local human resources representative. The Grantee authorizes the recipients to receive, possess,
use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing his or her participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other
third party with whom the Grantee may elect to deposit any shares acquired upon exercise of the SAR. The Grantee understands that Data will be held only as long as is necessary to implement, administer and manage his or her participation in the
Plan. The Grantee understands that the he or she may, at any time, view Data, request 
  

 14 

 additional information about the storage and processing of Data, require any necessary amendments to Data or refuse
or withdraw the consents herein, in any case without cost, by contacting in writing his or her local human resources representative. The Grantee understands, however, that refusing or withdrawing his or her consent may affect the Grantee’s
ability to participate in the Plan. For more information on the consequences of the Grantee’s refusal to consent or withdrawal of consent, the Grantee understands that he or she may contact his or her local human resources representative.

  
 8. Electronic Delivery. The Company may elect
to deliver any documents related to the SAR by electronic means. The Grantee hereby consents to receive such documents by electronic delivery and, if requested, agrees to participate in the Plan through an on-line or electronic system established
and maintained by the Company or another third party designated by the Company. 
  
 9. Administration. The Committee shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent
therewith and to interpret or revoke any such rules. All actions taken and all interpretations and determinations made by the Committee shall be final and binding upon the Grantee, the Company and all other interested persons. No member of the
Committee shall be personally liable for any action, determination, or interpretation made in good faith with respect to the Plan or this Agreement. 
  
 10. Successors and Assigns of the Company. The rights of the Company under this Agreement shall be transferable to any one or more persons or
entities, and all covenants and agreements hereunder shall inure to the benefit of, and be enforceable by, such transferees. 
  
 11. Severability. If any court or governmental authority declares all or any part of this Agreement or the Plan to be unlawful or invalid,
such unlawfulness or invalidity shall not invalidate any portion of this Agreement or the Plan not declared to be unlawful or invalid. Any part of this Agreement so declared to be unlawful or invalid shall, if possible, be construed in a manner that
will give effect to the terms of such part to the fullest extent possible while remaining lawful and valid. 
  
 12. Governing Law. This Agreement shall be governed by and interpreted in accordance with the laws of the State of North Carolina, without regard
to conflicts of law principles. For purposes of litigating any dispute that arises under this Agreement or the Plan, the parties hereby submit to and consent to the jurisdiction of the State of North Carolina, agree that such litigation shall be
conducted in the courts of Wake County, or the federal courts for the United States for the Eastern District of North Carolina, where this grant is made and/or to be performed. 
  
 13. Entire Agreement. This Agreement and the Plan constitute the entire agreement of the parties with respect to the
subject matter hereof and may not be modified except by means of a writing signed by Grantee and the Company. In the event of any conflict between the Plan and this Agreement, the Plan shall control. Any defined terms used herein shall have the
meanings set forth in the Plan, except as otherwise defined herein. 
  
 14. Acknowledgement. The Grantee and the Company agree that the SAR is granted under and is governed by the Plan and this Agreement. The Grantee has reviewed the Plan and this Agreement in their entirety, has had an opportunity to
obtain the advice of counsel prior to executing this Agreement and fully understands all provisions of the Plan and this Agreement. The Grantee hereby agrees to accept as binding, conclusive and final all decisions and interpretations of the
Committee upon any questions relating to the Plan and this Agreement. 
  
 [Signature page follows] 
  

 15 

 IN WITNESS WHEREOF, the parties have executed and delivered this Agreement effective as of the Date of
Grant above written. 
  

					
	GRANTEE	 	EMBREX, INC.
			
	  

	 	By:	 	  

	Signature	 	 	 	 
	  

	 	Title:	 	  

	Print Name	 	 	 	 

  

 16 

 EXHIBIT A 
  
 SAR EXERCISE NOTICE 
  
 Embrex, Inc. 
 1040 Swabia Court 
 Durham, North Carolina 27703 
  
 Attention: Senior Director, Human Resources  
  
 1. Exercise of SAR. Effective as of today,                     ,     , the
undersigned (“Grantee”) hereby elects to exercise Grantee’s stock appreciation right (“SAR”) as to              shares (the “Exercised Shares”) of
the Common Stock of Embrex, Inc. (the “Company”) under and pursuant to the Amended and Restated Incentive Stock Option and Nonstatutory Stock Option Plan, as amended (the “Plan”) and the Stock Appreciation Right Agreement dated
                    ,      (the “SAR Agreement”). By this exercise Grantee is entitled to receive shares
of Common Stock equal in value to the difference between the “Base Value” per share, as set by the SAR Agreement, and the fair market value of the Common Stock on the date hereof, multiplied by the number of the Exercised Shares. The
shares to be delivered to Grantee pursuant to this exercise of the SAR are referred to as the “Delivered Shares.” 
  
 2. Representations of Grantee. Grantee acknowledges that Grantee has received, read and understood the Plan and the SAR Agreement and agrees to
abide by and be bound by their terms and conditions. 
  
 3.
Rights as Shareholder. Until the issuance (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company) of the Delivered Shares, no right to vote or receive dividends or any other
rights as a shareholder shall exist with respect to the Delivered Shares, notwithstanding the exercise of the SAR. The Delivered Shares so acquired shall be issued to the Grantee as soon as practicable after exercise of the SAR. No adjustment shall
be made for a dividend or other right for which the record date is prior to the date of issuance, except as provided in Section 17 of the Plan. 
  
 4. Tax Consultation. Grantee understands that Grantee may suffer adverse tax consequences as a result of Grantee’s exercise of the SAR or
disposition of the Delivered Shares. Grantee represents that he or she has consulted with any tax consultants Grantee deems advisable in connection with the exercise of the SAR or the disposition of the Delivered Shares and that he or she is not
relying on the Company for any tax advice. 
  
 5. Entire
Agreement; Governing Law. The Plan and SAR Agreement are incorporated herein by reference. This Notice, the Plan and the SAR Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in
their entirety all prior undertakings and agreements of the Company and Grantee and may not be modified adversely to the Grantee’s interest except by means of a writing signed by the Company and Grantee. This Notice is governed by the internal
substantive laws, but not the choice of law rules, of North Carolina. 
  

							
	Submitted by:	 	Accepted by:
		
	GRANTEE	 	EMBREX, INC.
			
	  

	 	By:	 	  

	Signature	 	 	 	 	 	 
	  

	 	Title:	 	  

	Print Name	 	 	 	 	 	 
	 	 	Date Received:	 	  

  

 17

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