Document:

Exhibit
10.1

 

UNLESS
PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE THE DATE THAT IS 4 MONTHS AND
A DAY AFTER THE LATER OF (i) September 6, 2021, AND (ii) THE DATE THE ISSUER BECAME A REPORTING ISSUER IN ANY PROVINCE OR TERRITORY.

 

THIS
NOTE AND THE SECURITIES ISSUABLE UPON THE CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
OR THE SECURITIES LAWS OF ANY STATE. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT AS TO THE SECURITIES UNDER SAID ACT OR LAWS OR AN OPINION OF COUNSEL OR OTHER EVIDENCE REASONABLY SATISFACTORY
TO THE CORPORATION THAT SUCH REGISTRATION IS NOT REQUIRED.

 

CONVERTIBLE
PROMISSORY NOTE

 

	USD$400,000	May
    5, 2021

 

FOR
VALUE RECEIVED, Fogdog Energy Solutions Inc., a corporation incorporated under the laws of Alberta (the “Company”)
promises to pay to CurrencyWorks Inc. (the “Investor”), or its registered assigns, in lawful money of the United
States of America the principal sum of four hundred thousand dollars (USD$400,000.00), or such lesser amount as shall equal the
outstanding principal amount hereof, together with interest from the date of this Convertible Promissory Note (the “Note)
on the unpaid principal balance at a rate equal to the Interest Rate (as defined below) per annum, calculated on the basis of
the actual number of days elapsed and a year of 365 days. To the extent not previously converted in accordance with Section
6 hereof, all unpaid principal, together with any then unpaid and accrued interest and other amounts payable hereunder, shall
be due and payable on the earlier of (i) twelve (12) months from the date hereof (the “Maturity Date”), or
(ii) when, upon or after the occurrence of an Event of Default (as defined below), such amounts are declared due and payable by
the Investor or made automatically due and payable in accordance with the terms hereof.

 

The
following is a statement of the rights of the Investor and the conditions to which this Note is subject, and to which the Investor,
by the acceptance of this Note, agrees:

 

1.
Definitions.
As used in this Note, the following capitalized terms have the following meanings:

 

(a)
“Affiliate” shall mean with respect to any specified Person, any other Person who, directly or indirectly,
controls, is controlled by, or is under common control with such Person, including without limitation any general partner, managing
member, officer or director of such Person or any venture capital fund now or hereafter existing that is controlled by one or
more general partners or managing members of, or shares the same management company with, such Person;

 

    	 

    	 

    

 

(b)
“Applicable Price Per Share” shall mean an amount equal to the lesser of (i) the product of (x) eighty percent
(80%) and (y) the price per share at which equity securities are issued by the Company in the Qualified Equity Financing, and
(ii) the Maximum Conversion Price;

 

(c)
“Change of Control” shall mean: (i) the acquisition of the Company by another entity by means of any transaction
or series of related transactions to which the Company is party (including, without limitation, any stock acquisition, reorganization,
merger or consolidation but excluding any bona fide sale of stock for capital raising purposes) other than a transaction or series
of transactions in which the shareholders of the Company outstanding immediately prior to such transaction continue to retain
at least fifty percent (50%) of the total voting power of the Company or such surviving entity outstanding immediately after such
transaction or series of transactions; or (ii) a sale, lease or other conveyance of all substantially all of the assets of the
Company;

 

(d)
“Deliverables” means the list of deliverables to be performed by the Company, as agreed to by the Investor,
evidenced by a written document executed by both parties hereto;

 

(e)
“Event of Default” has the meaning given in Section 4 hereof;

 

(f)
“Interest Rate” shall mean an amount equal to four percent (4%);

 

(g)
“Maximum Conversion Price” shall mean the quotient of (i) USD$2,222,222 divided by (ii) the aggregate number
of outstanding common shares of the Company immediately prior to the Qualified Equity Financing (calculated on a undiluted basis);

 

(h)
“Obligations” shall mean and include all loans, advances, debts, liabilities and obligations, howsoever arising,
owed by the Company to the Investor of every kind and description (whether or not evidenced by any note or instrument and whether
or not for the payment of money), now existing or hereafter arising under or pursuant to the terms of this Note, including, all
interest, fees, charges, expenses, attorneys’ fees and costs and accountants’ fees and costs chargeable to and payable
by the Company hereunder and thereunder, in each case, whether direct or indirect, absolute or contingent, due or to become due;

 

(i)
“Person” shall mean and include an individual, a partnership, a corporation (including a business trust), a
joint stock company, a limited liability company, an unincorporated association, a joint venture or other entity or a governmental
authority;

 

(j)
“Qualified Equity Financing” shall mean a bona fide equity financing, with the principal purpose of raising
capital, pursuant to which the Company issues shares of its capital stock with aggregate gross proceeds to the Company of not
less than USD$1,000,000, excluding any and all notes which are converted and any other indebtedness; and

 

(k)
“Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder.

 

2.
Interest.
Accrued interest on this Note shall be payable and/or converted at the Maturity Date or as otherwise provided in this Note.

 

    	-2-

    	 

    

 

3.
Prepayment.
This Note may not be prepaid without the written consent of the Investor.

 

4.
Events of Default.
The occurrence of any of the following shall constitute an “Event of Default” under this Note:

 

(a)
The Company shall fail to pay (i) when due any principal or interest payment on the due date hereunder or (ii) any other payment
required under the terms of this Note on the date due;

 

(b)
The Company shall fail to observe or perform any other covenant, obligation, condition or agreement contained in this Note (other
than those specified in Section 4(a) above) and such failure remains uncured for a period of 20 days after the Investor
provides written notice to the Company;

 

(c)
Any representation, warranty, certificate, or other statement (financial or otherwise) made or furnished by or on behalf of the
Company to the Investor in writing in connection with this Note shall be false, incorrect, incomplete or misleading in any material
respect when made or furnished;

 

(d)
The Company shall (i) apply for or consent to the appointment of a receiver, trustee, liquidator or custodian of itself or of
all or a substantial part of its property, (ii) be unable, or admit in writing its inability, to pay its debts generally as they
mature, (iii) make a general assignment for the benefit of its or any of its creditors, (iv) be dissolved or liquidated, (v) become
insolvent (as such term may be defined or interpreted under any applicable statute), (vi) commence a voluntary case or other proceeding
seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other
similar law now or hereafter in effect or consent to any such relief or to the appointment of or taking possession of its property
by any official in an involuntary case or other proceeding commenced against it, or (vii) take any action for the purpose of effecting
any of the foregoing;

 

(e)
Proceedings for the appointment of a receiver, trustee, liquidator or custodian of the Company or of all or a substantial part
of the property thereof, or an involuntary case or other proceedings seeking liquidation, reorganization or other relief with
respect to the Company or the debts thereof under any bankruptcy, insolvency or other similar law now or hereafter in effect shall
be commenced and an order for relief entered or such proceeding shall not be dismissed or discharged within 30 days of commencement;
or

 

(f)
The Company shall become unable to pay the Obligations as they become due and payable.

 

5.
Rights of the Investor upon Default.
Upon the occurrence or existence of any Event of Default and at any time thereafter during the continuance of such Event of Default,
the Investor may declare all outstanding Obligations payable by the Company hereunder to be immediately due and payable without
presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived. In addition to the foregoing
remedies, upon the occurrence or existence of any Event of Default, the Investor may exercise any other right power or remedy
permitted to it by law, either by suit in equity or by action at law, or both.

 

    	-3-

    	 

    

 

6.
Conversion.

 

(a)
In the event that, prior to the Maturity Date, the Company consummates a Qualified Equity Financing, then the outstanding principal
amount due under this Note plus all accrued and unpaid interest shall automatically convert into such equity securities being
issued upon the Qualified Equity Financing at the Applicable Price Per Share and otherwise on the same terms (including the same
rights, preferences and privileges) as the other investors that purchase equity securities pursuant to a Qualified Equity Financing.
Upon such conversion of this Note, the Investor hereby agrees to execute and deliver to the Company all transaction documents
related to the Qualified Equity Financing, including a purchase agreement and other ancillary agreements, with customary representations
and warranties and transfer restrictions, and having the same terms as those agreements entered into by the other purchasers of
equity securities. The Investor also agrees to deliver the original of this Note at the closing of the Qualified Equity Financing
for cancellation; provided, however, that upon satisfaction of the conditions set forth in this Section 6(a), this
Note shall be deemed converted and of no further force and effect, whether or not it is delivered for cancellation as set forth
in this Section 6(a).

 

(b)
If the Note has not been converted pursuant to a Qualified Equity Financing prior to the Maturity Date, then the Investor may,
in its sole discretion, elect to convert the outstanding principal amount due under this Note plus all accrued and unpaid interest
into common shares at the Maximum Conversion Price. The Investor also agrees to deliver the original of this Note at the closing
of conversion for cancellation; provided, however, that upon satisfaction of the conditions set forth in this Section
6(b), this Note shall be deemed converted and of no further force and effect, whether or not it is delivered for cancellation
as set forth in this Section 6(b).

 

(c)
If the Company shall have a Change of Control at any time while this Note remains outstanding and prior to the date of a Qualified
Equity Financing, the Company shall give the Investor at least 10 business days prior written notice of the anticipated closing
date of such Change of Control transaction and the Investor may in its sole discretion, elect (i) be paid an amount equal to one
times (1X) the outstanding principal amount due under this Note plus all accrued and unpaid interest in cash, or (ii) be issued
the equity securities that the Investor would have received had the Investor converted the Note pursuant to Section 6(a)
above. The Investor also agrees to deliver the original of this Note at the closing of the Change of Control for cancellation
upon receipt of the payment to the Investor contemplated herein; provided, however, that upon satisfaction of the conditions
set forth in this Section 6(c), this Note shall be deemed terminated and of no further force and effect, whether or not
it is delivered for cancellation as set forth in this sentence, upon the Company’s making the payment to the Investor contemplated
herein.

 

(d)
In the event that the Investor (i) does not complete a further investment into the Company within 30 days of written notice from
the Company that it has completed the Deliverables and (ii) the Investor completes an investment of either debt or equity into
a competitive green energy technology company, then the Company shall have the right to request that the Investor deliver the
shares that it received from the conversion pursuant to Section 1(b) for cancellation in exchange for the Company delivering
a promissory note to the Investor for the full amount of the Obligations, which promissory note will be repayable in 60 monthly
installments and will bear interest at a rate of 8% per annum.

 

    	-4-

    	 

    

 

(e)
No fractional shares of the Company’s capital stock shall be issued upon conversion of this Note. In lieu of the Company
issuing any fractional shares to the Investor upon the conversion of this Note, the Company shall pay to the Investor in cash
an amount equal to the product obtained by multiplying the conversion price by the fraction of a share not issued pursuant to
the previous sentence. In addition, the Company shall pay to the Investor any interest accrued on the amount converted and on
the amount to be paid to the Company pursuant to the previous sentence. The issuance of any certificate or certificates upon conversion
of this Note in accordance with Section 6 shall be made without charge to the Investor for any tax or charge with respect
to the issuance thereof. At its expense, the Company will, as soon as practicable thereafter, issue and deliver to the Investor,
at such principal office, a certificate or certificates for the number of shares to which such Investor is entitled upon such
conversion, together with any other securities and property to which the Investor is entitled upon such conversion under the terms
of this Note, including a check payable to the Investor for any cash amounts payable as described herein Upon conversion of this
Note, the Company shall be forever released from all its obligations and liabilities under this Note with regard to that portion
of the principal amount and accrued interest being converted including without limitation the obligation to pay such portion of
the principal amount and accrued interest. If the original Note has been lost, stolen or destroyed, in lieu of delivering the
original Note to the Company pursuant to Section 1(a), Section 6 (b) and Section 6(c) above, the Investor shall
deliver notice thereof to the Company, evidence reasonably satisfactory to the Company of the ownership of and the loss, theft,
destruction or mutilation of this Note and an agreement acceptable to the Company whereby the holder agrees to indemnify the Company
from any loss incurred by it in connection with the lost, stolen, destroyed or mutilated Note.

 

7.
Representations and Warranties of the
Company. The Company represents and warrants to the Investor
that:

 

(a)
The Company (i) is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation;
(ii) has the power and authority to own, lease and operate its properties and carry on its business as now conducted; and (iii)
is duly qualified, licensed to do business and in good standing as a foreign corporation (or in the process of becoming so qualified,
licensed and in good standing) in each jurisdiction where the failure to be so qualified or licensed could reasonably be expected
to have a material adverse effect.

 

(b)
The Company does not currently own or control, directly or indirectly, any interest in any other corporation, partnership, trust,
joint venture, limited liability company, association, or other business entity. The Company is not a participant in any joint
venture, partnership or similar arrangement.

 

(c)
The execution, delivery and performance by the Company of this Note and the consummation of the transactions contemplated hereby
(i) are within the power of the Company and (ii) have been duly authorized by all necessary actions on the part of the Company.

 

(d)
The Note has been, or will be, duly executed and delivered by the Company and constitutes, or will constitute, a legal, valid
and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as limited by bankruptcy,
insolvency or other laws of general application relating to or affecting the enforcement of creditors’ rights generally
and general principles of equity.

 

    	-5-

    	 

    

 

8.
Representations and Warranties of the
Investor. The Investor hereby subscribes for this Note and in
connection therewith represents and warrants to the Company that:

 

(a)
The Investor has full legal capacity, power and authority to execute and deliver this Note and to perform its obligations hereunder.

 

(b)
The Investor has been advised that the Note and the underlying securities have not been registered or qualified under the Securities
Act, or any other applicable securities laws and, therefore, cannot be resold unless they are registered or qualified under the
Securities Act and applicable securities laws or unless an exemption from such registration or qualification requirements is available.
The Investor is aware that, the Company is under no obligation to effect any such registration or qualification with respect to
the Note or the underlying securities or to file for or comply with any exemption from registration or prospectus requirements.
The Investor has not been formed solely for the purpose of making this investment and is purchasing the Note to be acquired by
such Investor hereunder for its own account for investment, not as a nominee or agent, and not with a view to, or for resale in
connection with, any immediate distribution thereof. The Investor has such knowledge and experience in financial and business
matters that the Investor is capable of evaluating the merits and risks of such investment, is able to incur a complete loss of
such investment and is able to bear the economic risk of such investment for an indefinite period of time.

 

(c)
The Investor has not engaged any brokers, finders or agents, and neither the Company nor any other Investor has, nor will, incur,
directly or indirectly, as a result of any action taken by the Investor, any liability for brokerage or finders’ fees or
agents’ commissions or any similar charges in connection with the Agreements.

 

(d)
The Investor agrees to receive prior written approval from the Company on any promotional material or news releases that the Investor
contemplates to make with respect of this investment.

 

9.
Successors and Assigns. Subject to the restrictions on transfer described in Section 11 below, the rights and obligations
of the Company and the Investor shall be binding upon and benefit the successors, assigns, heirs, administrators and transferees
of the parties.

 

10.
Waiver and Amendment. Any provision of this Note may be amended, waived or modified upon the written consent of the Company
and the Investor.

 

11.
Transfer of this Note. Neither party shall assign its rights or obligations under this Note without the prior written consent
of the other, which consent shall not be unreasonably withheld or delayed; provided, however, that the rights under this Note
may be assigned (but only with all related obligations) by an Investor to a transferee that is an Affiliate of the Investor if
(x) the Company is, within a reasonable time after such transfer, furnished with written notice of the name and address of such
transferee, and (y) such transferee agrees in a written instrument delivered to the Company to be bound by and subject to the
terms and conditions of this Note. The terms and conditions of this Note inure to the benefit of and are binding upon the respective
successors and permitted assignees of the parties. Nothing in this Note, express or implied, is intended to confer upon any party
other than the parties hereto or their respective successors and permitted assignees any rights, remedies, obligations or liabilities
under or by reason of this Note, except as expressly provided herein.

 

    	-6-

    	 

    

 

12.
Notices. All notices, requests, demands, consents, instructions or other communications required or permitted hereunder shall
be in writing and shall be sent by electronic mail, faxed, mailed or delivered to each party at the respective addresses of the
parties as set forth in Schedule I hereto, or at such other address, e-mail address or facsimile number as the Company
shall have furnished to the Investor in writing. All such notices and communications will be deemed effectively given upon the
earlier of (i) when received, (ii) when delivered personally, (iii) on the day of transmission if transmitted by facsimile (with
receipt of appropriate confirmation) or electronic mail prior to 5:00p.m. (Alberta time) on a business day, or otherwise on the
next business day, (iv) one business day after being deposited with an overnight courier service of recognized standing or (v)
four days after being deposited in the U.S. or Canadian mail, first class with postage prepaid.

 

13.
Payment. The Company will make all cash payments due under this Note in immediately available funds by 11:00 a.m. Pacific
time on the date such payment is due by means of wire transfer.

 

14.
Expenses; Waivers. Each party will be responsible for their own fees and expenses in connection with the transaction contemplated
by this Note. If action is instituted to collect this Note or to enforce the terms of this Note, the Company agrees to pay all
costs and expenses, including, without limitation, the Investor’s reasonable attorneys’ fees and costs, incurred in
connection with such action. The Company hereby waives notice of default, presentment or demand for payment, protest or notice
of nonpayment or dishonor and all other notices or demands relative to this instrument.

 

15.
Entire Agreement. This Note constitutes and contains the entire agreement among the Company and the Investor and supersede
any and all prior agreements, negotiations, correspondence, understandings and communications among the parties, whether written
or oral, respecting the subject matter hereof.

 

16.
Governing Law. This Note and all actions arising out of or in connection with this Note shall be governed by and construed
in accordance with the laws of the Province of Alberta without regard to the conflicts of law provisions of the province of the
Province of Alberta or of any other state.

 

    	-7-

    	 

    

 

The
Company has caused this Note to be issued as of the date first written above.

 

	 	FOGDOG
    ENERGY SOLUTIONS INC.
	 	
	 	 	/s/Marlon
Lee Him
	 	Name:	Marlon
    Lee Him
	 	Title:	President
	 	 	 
	 	CURRENCYWORKS INC.
	 	 	                         
	 	 	/s/ Jimmy Geiskopf
	 	Name:	Jimmy
    Geiskopf
	 	Title:	Lead
    DirectorEXHIBIT 10.1

 

GAMING TECHNOLOGIES, INC.

 

2021 EQUITY INCENTIVE PLAN

 

As adopted by the Board of Directors
of Gaming Technologies, Inc., on April 29, 2021.

 

As approved by the shareholders
of Gaming Technologies, Inc., on ________________, 202___.

 

1.                  
Purpose; Eligibility.

 

1.1              
General Purpose. The name of this plan is the Gaming Technologies, Inc. 2021 Equity Incentive Plan (the “Plan”).
The purposes of the Plan are to (a) enable Gaming Technologies, Inc., a Delaware corporation (the “Company”), and any
Affiliate to attract and retain the types of Employees, Consultants and Directors who will contribute to the Company’s long-term
success; (b) provide incentives that align the interests of Employees, Consultants and Directors with those of the shareholders of the
Company; and (c) promote the success of the Company’s business.

 

1.2              
Eligible Award Recipients. The persons eligible to receive Awards are the Employees, Consultants and Directors of the Company
and its Affiliates and such other individuals designated by the Committee who are reasonably expected to become Employees, Consultants
and Directors after the receipt of Awards.

 

1.3              
Available Awards. Awards that may be granted under the Plan include: (a) Incentive Stock Options, (b) Non-qualified Stock
Options, (c) Stock Appreciation Rights, (d) Restricted Awards, (e) Performance Share Awards, (f) Cash Awards, and (g) Other Equity-Based
Awards.

 

2.                  
Definitions.

 

“Affiliate”
means a corporation or other entity that, directly or through one or more intermediaries, controls, is controlled by or is under common
control with, the Company.

 

“Applicable Laws”
means the requirements related to or implicated by the administration of the Plan under applicable state corporate law, United States
federal and state securities laws, the Code, any stock exchange or quotation system on which the shares of Common Stock are listed or
quoted, and the applicable laws of any foreign country or jurisdiction where Awards are granted under the Plan.

 

“Award”
means any right granted under the Plan, including an Incentive Stock Option, a Non-qualified Stock Option, a Stock Appreciation Right,
a Restricted Award, a Performance Share Award, a Cash Award, or an Other Equity-Based Award.

 

“Award Agreement”
means a written agreement, contract, certificate or other instrument or document evidencing the terms and conditions of an individual
Award granted under the Plan which may, in the discretion of the Company, be transmitted electronically to any Participant. Each Award
Agreement shall be subject to the terms and conditions of the Plan.

 

“Beneficial Owner”
has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership
of any particular Person, such Person shall be deemed to have beneficial ownership of all securities that such Person has the right to
acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only after the passage
of time. The terms “Beneficially Owns” and “Beneficially Owned” have a corresponding meaning.

 

“Board”
means the Board of Directors of the Company, as constituted at any time.

 

“Cash Award”
means an Award denominated in cash that is granted under Section 10 of the Plan.

 

 

    	 	 	 

     

    

 

“Cause”
means:

 

With respect to any Employee
or Consultant, unless the applicable Award Agreement states otherwise:

 

(a)               
If the Employee or Consultant is a party to an employment or service agreement with the Company or its Affiliates and such agreement
provides for a definition of Cause, the definition contained therein; or

 

(b)               
If no such agreement exists, or if such agreement does not define Cause: (i) the commission of, or plea of guilty or no contest
to, a felony or a crime involving moral turpitude or the commission of any other act involving willful malfeasance or material fiduciary
breach with respect to the Company or an Affiliate; (ii) conduct that brings or is reasonably likely to bring the Company or an Affiliate
negative publicity or into public disgrace, embarrassment, or disrepute; (iii) gross negligence or willful misconduct with respect to
the Company or an Affiliate; (iv) material violation of state or federal securities laws; or (v) material violation of the Company’s
written policies or codes of conduct, including written policies related to discrimination, harassment, performance of illegal or unethical
activities, and ethical misconduct.

 

With respect to any Director,
unless the applicable Award Agreement states otherwise, a determination by a majority of the disinterested Board members that the Director
has engaged in any of the following:

 

(a)               
malfeasance in office;

 

(b)               
gross misconduct or neglect;

 

(c)               
false or fraudulent misrepresentation inducing the director’s appointment;

 

(d)               
willful conversion of corporate funds; or

 

(e)               
repeated failure to participate in Board meetings on a regular basis despite having received proper notice of the meetings in advance.

 

The Committee, in its absolute
discretion, shall determine the effect of all matters and questions relating to whether a Participant has been discharged for Cause.

 

“Change in Control”
means

 

(a)               
if the Award is not subject to Section 409A of the Code:

 

(i)                       
 The direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one
or a series of related transactions, of all or substantially all of the properties or assets of the Company and its subsidiaries, taken
as a whole, to any Person that is not a subsidiary of the Company;

 

(ii)                       
The Incumbent Directors cease for any reason to constitute at least a majority of the Board;

 

(iii)                       
The date which is 10 business days prior to the consummation of a complete liquidation or dissolution of the Company;

 

(iv)                       
The acquisition by any Person of Beneficial Ownership of more than 50% (on a fully diluted basis) of either (i) the then outstanding
shares of Common Stock of the Company, taking into account as outstanding for this purpose such Common Stock issuable upon the exercise
of options or warrants, the conversion of convertible stock or debt, and the exercise of any similar right to acquire such Common Stock
(the “Outstanding Company Common Stock”) or (ii) the combined voting power of the then outstanding voting securities
of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”);
provided, however, that for purposes of this Plan, the following acquisitions shall not constitute a Change in Control: (A) any
acquisition by the Company or any Affiliate, (B) any acquisition by any employee benefit plan sponsored or maintained by the Company or
any subsidiary, (C) any acquisition which complies with clauses, (i), (ii) and (iii) of subsection (e) of this definition or (D) in respect
of an Award held by a particular Participant, any acquisition by the Participant or any group of persons including the Participant (or
any entity controlled by the Participant or any group of persons including the Participant); or

 

 

    	 	2	 

     

    

 

(v)                       
The consummation of a reorganization, merger, consolidation, statutory share exchange or similar form of corporate transaction
involving the Company that requires the approval of the Company’s shareholders, whether for such transaction or the issuance of
securities in the transaction (a “Business Combination”), unless immediately following such Business Combination: (i)
more than 50% of the total voting power of (A) the entity resulting from such Business Combination (the “Surviving Company”),
or (B) if applicable, the ultimate parent entity that directly or indirectly has beneficial ownership of sufficient voting securities
eligible to elect a majority of the members of the board of directors (or the analogous governing body) of the Surviving Company (the
“Parent Company”), is represented by the Outstanding Company Voting Securities that were outstanding immediately prior
to such Business Combination (or, if applicable, is represented by shares into which the Outstanding Company Voting Securities were converted
pursuant to such Business Combination), and such voting power among the holders thereof is in substantially the same proportion as the
voting power of the Outstanding Company Voting Securities among the holders thereof immediately prior to the Business Combination; (ii)
no Person (other than any employee benefit plan sponsored or maintained by the Surviving Company or the Parent Company) is or becomes
the Beneficial Owner, directly or indirectly, of 50% or more of the total voting power of the outstanding voting securities eligible to
elect members of the board of directors of the Parent Company (or the analogous governing body) (or, if there is no Parent Company, the
Surviving Company); and (iii) at least a majority of the members of the board of directors (or the analogous governing body) of the Parent
Company (or, if there is no Parent Company, the Surviving Company) following the consummation of the Business Combination were Board members
at the time of the Board’s approval of the execution of the initial agreement providing for such Business Combination; or

 

(b)   
if the Award is subject to Section 409A of the Code:

 

(i)                          
One Person (or more than one Person acting as a group) acquires ownership of stock of the Company that, together with the stock
held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Company;
provided, that, a Change in Control shall not occur if any Person (or more than one Person acting as a group) owns more than 50%
of the total fair market value or total voting power of the Company’s stock and acquires additional stock;

 

(ii)                        
One person (or more than one person acting as a group) acquires (or has acquired during the twelve-month period ending on the date
of the most recent acquisition) ownership of the Company’s stock possessing 30% or more of the total voting power of the stock of
such corporation;

 

(iii)                      
A majority of the members of the Board are replaced during any twelve-month period by directors whose appointment or election is
not endorsed by a majority of the Board before the date of appointment or election; or

 

(iv)                      
One person (or more than one person acting as a group), acquires (or has acquired during the twelve-month period ending on the
date of the most recent acquisition) assets from the Company that have a total gross fair market value equal to or more than 40% of the
total gross fair market value of all of the assets of the Company immediately before such acquisition(s).]

 

“Code”
means the Internal Revenue Code of 1986, as it may be amended from time to time. Any reference to a section of the Code shall be deemed
to include a reference to any regulations promulgated thereunder.

 

“Committee”
means a committee of one or more members of the Board appointed by the Board to administer the Plan in accordance with Section 3.3 and
Section 3.4.

 

“Common Stock”
means the common stock, $0.001 par value per share, of the Company, or such other securities of the Company as may be designated by the
Committee from time to time in substitution thereof.

 

“Consultant”
means any individual or entity which performs bona fide services to the Company or an Affiliate, other than as an Employee or Director,
and who may be offered securities registerable pursuant to a registration statement on Form S-8 under the Securities Act.

 

 

    	 	3	 

     

    

 

“Continuous Service”
means that the Participant’s service with the Company or an Affiliate, whether as an Employee, Consultant or Director, is not interrupted
or terminated. The Participant’s Continuous Service shall not be deemed to have terminated merely because of a change in the capacity
in which the Participant renders service to the Company or an Affiliate as an Employee, Consultant or Director or a change in the entity
for which the Participant renders such service, provided that there is no interruption or termination of the Participant’s
Continuous Service; provided further that if any Award is subject to Section 409A of the Code, this sentence shall only be given
effect to the extent consistent with Section 409A of the Code. For example, a change in status from an Employee of the Company to a Director
of an Affiliate will not constitute an interruption of Continuous Service. The Committee or its delegate, in its sole discretion, may
determine whether Continuous Service shall be considered interrupted in the case of any leave of absence approved by that party, including
sick leave, military leave or any other personal or family leave of absence. The Committee or its delegate, in its sole discretion, may
determine whether a Company transaction, such as a sale or spin-off of a division or subsidiary that employs a Participant, shall be deemed
to result in a termination of Continuous Service for purposes of affected Awards, and such decision shall be final, conclusive and binding.

 

“Deferred Stock Unit”
has the meaning set forth in Section 8.1(b) hereof.

 

“Director”
means a member of the Board.

 

“Disability”
means, unless the applicable Award Agreement says otherwise, that the Participant is unable to engage in any substantial gainful activity
by reason of any medically determinable physical or mental impairment; provided, however, for purposes of determining the term
of an Incentive Stock Option pursuant to Section 6.10 hereof, the term Disability shall have the meaning ascribed to it under Section
22(e)(3) of the Code. The determination of whether an individual has a Disability shall be determined under procedures established by
the Committee. Except in situations where the Committee is determining Disability for purposes of the term of an Incentive Stock Option
pursuant to Section 6.10 hereof within the meaning of Section 22(e)(3) of the Code, the Committee may rely on any determination that a
Participant is disabled for purposes of benefits under any long-term disability plan maintained by the Company or any Affiliate in which
a Participant participates.

 

“Disqualifying Disposition”
has the meaning set forth in Section 17.12.

 

“Effective Date”
shall mean the date as of which this Plan is adopted by the Board.

 

“Employee”
means any person, including an Officer or Director, employed by the Company or an Affiliate; provided, that, for purposes
of determining eligibility to receive Incentive Stock Options, an Employee shall mean an employee of the Company or a parent or subsidiary
corporation within the meaning of Section 424 of the Code. Mere service as a Director or payment of a director’s fee by the Company
or an Affiliate shall not be sufficient to constitute “employment” by the Company or an Affiliate.

 

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

 

“Fair Market Value”
means, as of any date, the value of the Common Stock as determined below. If the Common Stock is listed on any established stock exchange
or a national market system, including without limitation, the New York Stock Exchange or the Nasdaq Stock Market, the Fair Market Value
shall be the closing price of a share of Common Stock (or if no sales were reported the closing price on the date immediately preceding
such date) as quoted on such exchange or system on the day of determination, as reported in the Wall Street Journal. In the absence
of an established market for the Common Stock, the Fair Market Value shall be determined in good faith by the Committee and such determination
shall be conclusive and binding on all persons.

 

“Fiscal Year”
means the Company’s fiscal year.

 

“Free Standing Rights”
has the meaning set forth in Section 7.

 

“Good Reason”
means, unless the applicable Award Agreement states otherwise:

 

(a)   
If an Employee or Consultant is a party to an employment or service agreement with the Company or its Affiliates and such agreement
provides for a definition of Good Reason, the definition contained therein; or

 

(b)   
If no such agreement exists or if such agreement does not define Good Reason, the occurrence of one or more of the following without
the Participant’s express written consent, which circumstances are not remedied by the Company within thirty (30) days of its receipt
of a written notice from the Participant describing the applicable circumstances (which notice must be provided by the Participant within
ninety (90) days of the Participant’s knowledge of the applicable circumstances):

 

 

    	 	4	 

     

    

 

(i)     
any material, adverse change in the Participant’s duties, responsibilities, authority, title, status or reporting structure;

 

(ii)     
a material reduction in the Participant’s base salary or bonus opportunity; or

 

(iii)     
a geographical relocation of the Participant’s principal office location by more than fifty (50) miles.

 

“Grant Date”
means the date on which the Committee adopts a resolution, or takes other appropriate action, expressly granting an Award to a Participant
that specifies the key terms and conditions of the Award or, if a later date is set forth in such resolution, then such date as is set
forth in such resolution.

 

“Incentive Stock
Option” means an Option that is designated by the Committee as an incentive stock option within the meaning of Section 422 of
the Code and that meets the requirements set out in the Plan.

 

“Incumbent Directors”
means individuals who, on the Effective Date, constitute the Board, provided that any individual becoming a Director subsequent
to the Effective Date whose election or nomination for election to the Board was approved by a vote of at least two-thirds of the Incumbent
Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named
as a nominee for Director without objection to such nomination) shall be an Incumbent Director. No individual initially elected or nominated
as a director of the Company as a result of an actual or threatened election contest with respect to Directors or as a result of any other
actual or threatened solicitation of proxies by or on behalf of any person other than the Board shall be an Incumbent Director.

 

“Non-Employee Director”
means a Director who is a “non-employee director” within the meaning of Rule 16b-3.

 

“Non-qualified Stock
Option” means an Option that by its terms does not qualify or is not intended to qualify as an Incentive Stock Option.

 

“Officer”
means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated
thereunder.

 

“Option”
means an Incentive Stock Option or a Non-qualified Stock Option granted pursuant to the Plan.

 

“Optionholder”
means a person to whom an Option is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Option.

 

“Option Exercise
Price” means the price at which a share of Common Stock may be purchased upon the exercise of an Option.

 

“Other Equity-Based
Award” means an Award that is not an Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, or Performance
Share Award that is granted under Section 10 and is payable by delivery of Common Stock and/or which is measured by reference to the value
of Common Stock.

 

“Participant”
means an eligible person to whom an Award is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding
Award.

 

“Performance Goals”
means, for a Performance Period, the one or more goals established by the Committee for the Performance Period based upon business criteria
or other performance measures determined by the Committee in its discretion.

 

“Performance Period”
means the one or more periods of time, as the Committee may select, over which the attainment of one or more Performance Goals will be
measured for the purpose of determining a Participant’s right to and the payment of a Performance Share Award or a Cash Award.

 

“Performance Share
Award” means any Award granted pursuant to Section 9 hereof.

 

“Performance Share”
means the grant of a right to receive a number of actual shares of Common Stock or share units based upon the performance of the Company
during a Performance Period, as determined by the Committee.

 

 

    	 	5	 

     

    

 

“Permitted Transferee”
means:

 

(a)   
a member of the Optionholder’s immediate family (child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former
spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including
adoptive relationships), any person sharing the Optionholder’s household (other than a tenant or employee), a trust in which these
persons have more than 50% of the beneficial interest, a foundation in which these persons (or the Optionholder) control the management
of assets, and any other entity in which these persons (or the Optionholder) own more than 50% of the voting interests;

 

(b)   
third parties designated by the Committee in connection with a program established and approved by the Committee pursuant to which
Participants may receive a cash payment or other consideration in consideration for the transfer of a Non-qualified Stock Option; and

 

(c)   
such other transferees as may be permitted by the Committee in its sole discretion.

 

“Person”
means a person as defined in Section 13(d)(3) of the Exchange Act.

 

“Plan”
means this Gaming Technologies, Inc. 2021 Equity Incentive Plan, as amended and/or amended and restated from time to time.

 

“Related Rights”
has the meaning set forth in Section 7.

 

“Restricted Award”
means any Award granted pursuant to Section 8.

 

“Restricted Period”
has the meaning set forth in Section 8.

 

“Rule 16b-3”
means Rule 16b-3 promulgated under the Exchange Act or any successor to Rule 16b-3, as in effect from time to time.

 

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

 

“Stock Appreciation
Right” means the right pursuant to an Award granted under Section 7 to receive, upon exercise, an amount payable in cash or
shares equal to the number of shares subject to the Stock Appreciation Right that is being exercised multiplied by the excess of (a) the
Fair Market Value of a share of Common Stock on the date the Award is exercised, over (b) the exercise price specified in the Stock Appreciation
Right Award Agreement.

 

“Substitute Award”
has the meaning set forth in Section 4.5.

 

“Ten Percent Shareholder”
means a person who owns (or is deemed to own pursuant to Section 424(d) of the Code) stock possessing more than 10% of the total combined
voting power of all classes of stock of the Company or of any of its Affiliates.

 

“Total Share Reserve”
has the meaning set forth in Section 4.1.

 

3.                  
Administration.

 

3.1              
Authority of Committee. The Plan shall be administered by the Committee or, in the Board’s sole discretion, by the
Board. Subject to the terms of the Plan, the Committee’s charter and Applicable Laws, and in addition to other express powers and
authorization conferred by the Plan, the Committee shall have the authority:

 

(a)   
to construe and interpret the Plan and apply its provisions;

 

(b)   
to promulgate, amend, and rescind rules and regulations relating to the administration of the Plan;

 

(c)   
to authorize any person to execute, on behalf of the Company, any instrument required to carry out the purposes of the Plan;

 

(d)   
to delegate its authority to one or more Officers of the Company with respect to Awards that do not involve “insiders”
within the meaning of Section 16 of the Exchange Act;

 

 

    	 	6	 

     

    

 

(e)   
to determine when Awards are to be granted under the Plan and the applicable Grant Date;

 

(f)    
from time to time to select, subject to the limitations set forth in this Plan, those eligible Award recipients to whom Awards
shall be granted;

 

(g)   
to determine the number of shares of Common Stock to be made subject to each Award;

 

(h)   
to determine whether each Option is to be an Incentive Stock Option or a Non-qualified Stock Option;

 

(i)    
to prescribe the terms and conditions of each Award, including, without limitation, the exercise price and medium of payment and
vesting provisions, and to specify the provisions of the Award Agreement relating to such grant;

 

(j)    
to determine the target number of Performance Shares to be granted pursuant to a Performance Share Award, the performance measures
that will be used to establish the Performance Goals, the Performance Period(s) and the number of Performance Shares earned by a Participant;

 

(k)   
to amend any outstanding Awards, including for the purpose of modifying the time or manner of vesting, or the term of any outstanding
Award; provided, however, that if any such amendment impairs a Participant’s rights or increases a Participant’s obligations
under his or her Award or creates or increases a Participant’s federal income tax liability with respect to an Award, such amendment
shall also be subject to the Participant’s consent;

 

(l)    
to determine the duration and purpose of leaves of absences which may be granted to a Participant without constituting termination
of their employment for purposes of the Plan, which periods shall be no shorter than the periods generally applicable to Employees under
the Company’s employment policies;

 

(m) 
to make decisions with respect to outstanding Awards that may become necessary upon a change in corporate control or an event that
triggers anti-dilution adjustments;

 

(n)   
to interpret, administer, reconcile any inconsistency in, correct any defect in and/or supply any omission in the Plan and any
instrument or agreement relating to, or Award granted under, the Plan; and

 

(o)   
to exercise discretion to make any and all other determinations which it determines to be necessary or advisable for the administration
of the Plan.

 

The Committee also
may modify the purchase price or the exercise price of any outstanding Award, provided that if the modification effects a repricing,
shareholder approval shall be required before the repricing is effective.

 

3.2              
Committee Decisions Final. All decisions made by the Committee pursuant to the provisions of the Plan shall be final and
binding on the Company and the Participants, unless such decisions are determined by a court having jurisdiction to be arbitrary and capricious.

 

3.3              
Delegation. The Committee or, if no Committee has been appointed, the Board may delegate administration of the Plan to a
committee or committees of one or more members of the Board, and the term “Committee” shall apply to any person or
persons to whom such authority has been delegated. The Committee shall have the power to delegate to a subcommittee any of the administrative
powers the Committee is authorized to exercise (and references in this Plan to the Board or the Committee shall thereafter be to the committee
or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time
to time by the Board. The Board may abolish the Committee at any time and revest in the Board the administration of the Plan. The members
of the Committee shall be appointed by and serve at the pleasure of the Board. From time to time, the Board may increase or decrease the
size of the Committee, add additional members to, remove members (with or without cause) from, appoint new members in substitution therefor,
and fill vacancies, however caused, in the Committee. The Committee shall act pursuant to a vote of the majority of its members or, in
the case of a Committee comprised of only two members, the unanimous consent of its members, whether present or not, or by the written
consent of the majority of its members and minutes shall be kept of all of its meetings and copies thereof shall be provided to the Board.
Subject to the limitations prescribed by the Plan and the Board, the Committee may establish and follow such rules and regulations for
the conduct of its business as it may determine to be advisable.

 

 

    	 	7	 

     

    

 

3.4              
Committee Composition. Except as otherwise determined by the Board, the Committee shall consist solely of two or more Non-Employee
Directors. The Board shall have discretion to determine whether or not it intends to comply with the exemption requirements of Rule 16b-3.
However, if the Board intends to satisfy such exemption requirements, with respect to any insider subject to Section 16 of the Exchange
Act, the Committee shall be a compensation committee of the Board that at all times consists solely of two or more Non-Employee Directors.
Within the scope of such authority, the Board or the Committee may delegate to a committee of one or more members of the Board who are
not Non-Employee Directors the authority to grant Awards to eligible persons who are not then subject to Section 16 of the Exchange Act.
Nothing herein shall create an inference that an Award is not validly granted under the Plan in the event Awards are granted under the
Plan by a compensation committee of the Board that does not at all times consist solely of two or more Non-Employee Directors.

 

3.5              
Indemnification. In addition to such other rights of indemnification as they may have as Directors or members of the Committee,
and to the extent allowed by Applicable Laws, the Committee shall be indemnified by the Company against the reasonable expenses, including
attorney’s fees, actually incurred in connection with any action, suit or proceeding or in connection with any appeal therein, to
which the Committee may be party by reason of any action taken or failure to act under or in connection with the Plan or any Award granted
under the Plan, and against all amounts paid by the Committee in settlement thereof (provided, however, that the settlement has
been approved by the Company, which approval shall not be unreasonably withheld) or paid by the Committee in satisfaction of a judgment
in any such action, suit or proceeding, except in relation to matters as to which it shall be adjudged in such action, suit or proceeding
that such Committee did not act in good faith and in a manner which such person reasonably believed to be in the best interests of the
Company, or in the case of a criminal proceeding, had no reason to believe that the conduct complained of was unlawful; provided, however,
that within 60 days after the institution of any such action, suit or proceeding, such Committee shall, in writing, offer the Company
the opportunity at its own expense to handle and defend such action, suit or proceeding.

 

4.                  
Shares Subject to the Plan.

 

4.1              
Subject to adjustment in accordance with Section 14, no more than 3,000,000 shares of Common Stock, plus on January 1, 2022,
and on each January 1 thereafter, the number of shares of Common Stock reserved and available for issuance under the Plan shall be cumulatively
increased by the lesser of four percent (4%) of the number of shares of Stock issued and outstanding on the immediately preceding December
31 or such number of shares of Stock as determined by the Committee no later than the immediately preceding December 31 (the “Annual
Increase”) (the “Total Share Reserve”). During
the terms of the Awards, the Company shall keep available at all times the number of shares of Common Stock required to satisfy such Awards.

 

4.2              
Shares of Common Stock available for distribution under the Plan may consist, in whole or in part, of authorized and unissued shares,
treasury shares or shares reacquired by the Company in any manner.

 

4.3              
Subject to adjustment in accordance with Section 14, no more than 3,000,000 shares of Common Stock, increased by the Annual Increase,
may be issued in the aggregate pursuant to the exercise of Incentive Stock Options (the “ISO Limit”).

 

4.4              
Any shares of Common Stock subject to an Award that expires or is canceled, forfeited, or terminated without issuance of the full
number of shares of Common Stock to which the Award related shall again be available for issuance of Awards or delivery under the Plan.
Any shares of Common Stock subject to an Award under the Plan that are (a) tendered in payment of an Option, (b) delivered or withheld
by the Company to satisfy any tax withholding obligation, or (c) covered by a stock-settled Stock Appreciation Right or other Awards that
were not issued upon the settlement of the Award shall be added back to the shares of Common Stock available for issuance of Awards or
delivery under the Plan and, to the extent permitted under Section 422 of the Code and the regulations promulgated thereunder, to the
shares of Common Stock that may be issued as Incentive Stock Options.

 

4.5              
Awards may, in the sole discretion of the Committee, be granted under the Plan in assumption of, or in substitution for, outstanding
awards previously granted by an entity acquired by the Company or with which the Company combines (“Substitute
Awards”). Substitute Awards shall not be counted against the Total Share Reserve; provided, that, Substitute Awards
issued in connection with the assumption of, or in substitution for, outstanding options intended to qualify as Incentive Stock Options
shall be counted against the ISO limit. Subject to applicable stock exchange requirements, available shares under a shareholder-approved
plan of an entity directly or indirectly acquired by the Company or with which the Company combines (as appropriately adjusted to reflect
such acquisition or transaction) may be used for Awards under the Plan and shall not count toward the Total Share Limit.

 

 

    	 	8	 

     

    

 

5.                  
Eligibility.

 

5.1              
Eligibility for Specific Awards. Incentive Stock Options may be granted only to Employees. Awards other than Incentive Stock
Options may be granted to Employees, Consultants and Directors and those individuals whom the Committee determines are reasonably expected
to become Employees, Consultants and Directors following the Grant Date.

 

5.2              
Ten Percent Shareholders. A Ten Percent Shareholder shall not be granted an Incentive Stock Option unless the Option Exercise
Price is at least 110% of the Fair Market Value of the Common Stock on the Grant Date and the Option is not exercisable after the expiration
of five years from the Grant Date.

 

6.                  
Options. Each Option granted under the Plan shall be evidenced by an Award
Agreement. Each Option so granted shall be subject to the conditions set forth in this Section 6, and to such other conditions not inconsistent
with the Plan as may be reflected in the applicable Award Agreement. All Options shall be separately designated Incentive Stock Options
or Non-qualified Stock Options at the time of grant, and, if certificates are issued, a separate certificate or certificates will be issued
for shares of Common Stock purchased on exercise of each type of Option. Notwithstanding the foregoing, the Company shall have no liability
to any Participant or any other person if an Option designated as an Incentive Stock Option fails to qualify as such at any time or if
an Option is determined to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code
and the terms of such Option do not satisfy the requirements of Section 409A of the Code. The provisions of separate Options need not
be identical, but each Option shall include (through incorporation of provisions hereof by reference in the Option or otherwise) the substance
of each of the following provisions:

 

6.1              
Term. Subject to the provisions of Section 5.2 regarding Ten Percent Shareholders, no Incentive Stock Option shall be exercisable
after the expiration of 10 years from the Grant Date. The term of a Non-qualified Stock Option granted under the Plan shall be determined
by the Committee; provided, however, no Non-qualified Stock Option shall be exercisable after the expiration of 10 years from the
Grant Date.

 

6.2              
Exercise Price of an Incentive Stock Option. Subject to the provisions of Section 5.2 regarding Ten Percent Shareholders,
the Option Exercise Price of each Incentive Stock Option shall be not less than 100% of the Fair Market Value of the Common Stock subject
to the Option on the Grant Date. Notwithstanding the foregoing, an Incentive Stock Option may be granted with an Option Exercise Price
lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another option
in a manner satisfying the provisions of Section 424(a) of the Code.

 

6.3              
Exercise Price of a Non-qualified Stock Option. The Option Exercise Price of each Non-qualified Stock Option shall be not
less than 100% of the Fair Market Value of the Common Stock subject to the Option on the Grant Date. Notwithstanding the foregoing, a
Non-qualified Stock Option may be granted with an Option Exercise Price lower than that set forth in the preceding sentence if such Option
is granted pursuant to an assumption or substitution for another option in a manner satisfying the provisions of Section 409A of the Code.

 

6.4              
Consideration. The Option Exercise Price of Common Stock acquired pursuant to an Option shall be paid, to the extent permitted
by applicable statutes and regulations, either (a) in cash or by certified or bank check at the time the Option is exercised or (b) in
the discretion of the Committee, upon such terms as the Committee shall approve, the Option Exercise Price may be paid: (i) by delivery
to the Company of other Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal
to the Option Exercise Price (or portion thereof) due for the number of shares being acquired, or by means of attestation whereby the
Participant identifies for delivery specific shares of Common Stock that have an aggregate Fair Market Value on the date of attestation
equal to the Option Exercise Price (or portion thereof) and receives a number of shares of Common Stock equal to the difference between
the number of shares thereby purchased and the number of identified attestation shares of Common Stock; (ii) a “cashless”
exercise program established with a broker; (iii) by reduction in the number of shares of Common Stock otherwise deliverable upon exercise
of such Option with a Fair Market Value equal to the aggregate Option Exercise Price at the time of exercise; (iv) by any combination
of the foregoing methods; or (v) in any other form of legal consideration that may be acceptable to the Committee. Unless otherwise specifically
provided in the Option, the exercise price of Common Stock acquired pursuant to an Option that is paid by delivery (or attestation) to
the Company of other Common Stock acquired, directly or indirectly from the Company, shall be paid only by shares of the Common Stock
of the Company that have been held for more than six months (or such longer or shorter period of time required to avoid a charge to earnings
for financial accounting purposes). Notwithstanding the foregoing, during any period for which the Common Stock is publicly traded (i.e.,
the Common Stock is listed on any established stock exchange or a national market system) an exercise by a Director or Officer that involves
or may involve a direct or indirect extension of credit or arrangement of an extension of credit by the Company, directly or indirectly,
in violation of Section 402(a) of the Sarbanes-Oxley Act of 2002 shall be prohibited with respect to any Award under this Plan.

 

 

    	 	9	 

     

    

 

6.5              
Transferability of an Incentive Stock Option. An Incentive Stock Option shall not be transferable except by will or by the
laws of descent and distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. Notwithstanding
the foregoing, the Optionholder may, by delivering written notice to the Company, in a form satisfactory to the Company, designate a third
party who, in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option.

 

6.6              
Transferability of a Non-qualified Stock Option. A Non-qualified Stock Option may, in the sole discretion of the Committee,
be transferable to a Permitted Transferee, upon written approval by the Committee to the extent provided in the Award Agreement. If the
Non-qualified Stock Option does not provide for transferability, then the Non-qualified Stock Option shall not be transferable except
by will or by the laws of descent and distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder.
Notwithstanding the foregoing, the Optionholder may, by delivering written notice to the Company, in a form satisfactory to the Company,
designate a third party who, in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option.

 

6.7              
Vesting of Options. Each Option may, but need not, vest and therefore become exercisable in periodic installments that may,
but need not, be equal. The Option may be subject to such other terms and conditions on the time or times when it may be exercised (which
may be based on performance or other criteria) as the Committee may deem appropriate. The vesting provisions of individual Options may
vary. No Option may be exercised for a fraction of a share of Common Stock. The Committee may, but shall not be required to, provide for
an acceleration of vesting and exercisability in the terms of any Award Agreement upon the occurrence of a specified event.

 

6.8              
Termination of Continuous Service. Unless otherwise provided in an Award Agreement or in an employment agreement the terms
of which have been approved by the Committee, in the event an Optionholder’s Continuous Service terminates (other than upon the
Optionholder’s death or Disability), the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled
to exercise such Option as of the date of termination) but only within such period of time ending on the earlier of (a) the date three
months following the termination of the Optionholder’s Continuous Service or (b) the expiration of the term of the Option as set
forth in the Award Agreement; provided that, if the termination of Continuous Service is by the Company for Cause, all outstanding
Options (whether or not vested) shall immediately terminate and cease to be exercisable. If, after termination, the Optionholder does
not exercise his or her Option within the time specified in the Award Agreement, the Option shall terminate.

 

6.9              
Extension of Termination Date. An Optionholder’s Award Agreement may also provide that if the exercise of the Option
following the termination of the Optionholder’s Continuous Service for any reason would be prohibited at any time because the issuance
of shares of Common Stock would violate the registration requirements under the Securities Act or any other state or federal securities
law or the rules of any securities exchange or interdealer quotation system, then the Option shall terminate on the earlier of (a) the
expiration of the term of the Option in accordance with Section 6.1 or (b) the expiration of a period after termination of the Participant’s
Continuous Service that is three months after the end of the period during which the exercise of the Option would be in violation of such
registration or other securities law requirements.

 

6.10          
Disability of Optionholder. Unless otherwise provided in an Award Agreement, in the event that an Optionholder’s Continuous
Service terminates as a result of the Optionholder’s Disability, the Optionholder may exercise his or her Option (to the extent
that the Optionholder was entitled to exercise such Option as of the date of termination), but only within such period of time ending
on the earlier of (a) the date 12 months following such termination or (b) the expiration of the term of the Option as set forth in the
Award Agreement. If, after termination, the Optionholder does not exercise his or her Option within the time specified herein or in the
Award Agreement, the Option shall terminate.

 

6.11          
Death of Optionholder. Unless otherwise provided in an Award Agreement, in the event an Optionholder’s Continuous
Service terminates as a result of the Optionholder’s death, then the Option may be exercised (to the extent the Optionholder was
entitled to exercise such Option as of the date of death) by the Optionholder’s estate, by a person who acquired the right to exercise
the Option by bequest or inheritance or by a person designated to exercise the Option upon the Optionholder’s death, but only within
the period ending on the earlier of (a) the date 12 months following the date of death or (b) the expiration of the term of such Option
as set forth in the Award Agreement. If, after the Optionholder’s death, the Option is not exercised within the time specified herein
or in the Award Agreement, the Option shall terminate.

 

6.12          
Incentive Stock Option $100,000 Limitation. To the extent that the aggregate Fair Market Value (determined at the time of
grant) of Common Stock with respect to which Incentive Stock Options are exercisable for the first time by any Optionholder during any
calendar year (under all plans of the Company and its Affiliates) exceeds $100,000, the Options or portions thereof which exceed such
limit (according to the order in which they were granted) shall be treated as Non-qualified Stock Options.

 

 

    	 	10	 

     

    

 

7.                  
Stock Appreciation Rights. Each
Stock Appreciation Right granted under the Plan shall be evidenced by an Award Agreement. Each Stock Appreciation Right so granted shall
be subject to the conditions set forth in this Section 7, and to such other conditions not inconsistent with the Plan as may be reflected
in the applicable Award Agreement. Stock Appreciation Rights may be granted alone (“Free Standing Rights”) or in tandem
with an Option granted under the Plan (“Related Rights”).

 

7.1              
Grant Requirements for Related Rights.  Any Related Right that relates to a Non-qualified Stock Option may be granted
at the same time the Option is granted or at any time thereafter but before the exercise or expiration of the Option. Any Related Right
that relates to an Incentive Stock Option must be granted at the same time the Incentive Stock Option is granted.

 

7.2              
Term. The term of a Stock Appreciation Right granted
under the Plan shall be determined by the Committee; provided, however, no Stock Appreciation Right shall be exercisable later
than the tenth (10th) anniversary of the Grant Date.

 

7.3              
Vesting of SARs.  Each Stock Appreciation Right may,
but need not, vest and therefore become exercisable in periodic installments that may, but need not, be equal. The Stock Appreciation
Right may be subject to such other terms and conditions on the time or times when it may be exercised as the Committee may deem appropriate.
The vesting provisions of individual Stock Appreciation Rights may vary. No Stock Appreciation Right may be exercised for a fraction of
a share of Common Stock. The Committee may, but shall not be required to, provide for an acceleration of vesting and exercisability in
the terms of any Stock Appreciation Right upon the occurrence of a specified event.

 

7.4              
Exercise and Payment. Upon exercise of a Stock Appreciation
Right, the holder shall be entitled to receive from the Company an amount equal to the number of shares of Common Stock subject to the
Stock Appreciation Right that is being exercised multiplied by the excess of (i) the Fair Market Value of a share of Common Stock on the
date the Award is exercised, over (ii) the exercise price specified in the Stock Appreciation Right or related Option. Payment with respect
to the exercise of a Stock Appreciation Right shall be made on the date of exercise. Payment shall be made in the form of shares of Common
Stock (with or without restrictions as to substantial risk of forfeiture and transferability, as determined by the Committee in its sole
discretion), cash or a combination thereof, as determined by the Committee.

 

7.5              
Exercise Price. The exercise price of a Free Standing
Right shall be determined by the Committee. A Related Right granted simultaneously with or subsequent to the grant of an Option and in
conjunction therewith or in the alternative thereto shall have the same exercise price as the related Option, shall be transferable only
upon the same terms and conditions as the related Option, and shall be exercisable only to the same extent as the related Option; provided,
however, that a Stock Appreciation Right, by its terms, shall be exercisable only when the Fair Market Value per share of Common Stock
subject to the Stock Appreciation Right and related Option exceeds the exercise price per share thereof and no Stock Appreciation Rights
may be granted in tandem with an Option unless the Committee determines that the requirements of Section 7.1 are satisfied.

 

7.6              
Reduction in the Underlying Option Shares. Upon any exercise
of a Related Right, the number of shares of Common Stock for which any related Option shall be exercisable shall be reduced by the number
of shares for which the Stock Appreciation Right has been exercised. The number of shares of Common Stock for which a Related Right shall
be exercisable shall be reduced upon any exercise of any related Option by the number of shares of Common Stock for which such Option
has been exercised.

 

8.                  
Restricted Awards.
A Restricted Award is an Award of actual shares of Common Stock (“Restricted Stock”) or hypothetical Common Stock units
(“Restricted Stock Units”) having a value equal to the Fair Market Value of an identical number of shares of Common
Stock, which may, but need not, provide that such Restricted Award may not be sold, assigned, transferred or otherwise disposed of, pledged
or hypothecated as collateral for a loan or as security for the performance of any obligation or for any other purpose for such period
(the “Restricted Period”) as the Committee shall determine. Each Restricted Award granted under the Plan shall be evidenced
by an Award Agreement. Each Restricted Award so granted shall be subject to the conditions set forth in this Section 8, and to such other
conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement.

 

 

    	 	11	 

     

    

 

8.1              
Restricted Stock and Restricted Stock Units.

 

(a)      
Each Participant granted Restricted Stock shall execute and deliver to the Company an Award Agreement with respect to the Restricted
Stock setting forth the restrictions and other terms and conditions applicable to such Restricted Stock. If the Committee determines that
the Restricted Stock shall be held by the Company or in escrow rather than delivered to the Participant pending the release of the applicable
restrictions, the Committee may require the Participant to additionally execute and deliver to the Company (A) an escrow agreement satisfactory
to the Committee, if applicable and (B) the appropriate blank stock power with respect to the Restricted Stock covered by such agreement.
If a Participant fails to execute an agreement evidencing an Award of Restricted Stock and, if applicable, an escrow agreement and stock
power, the Award shall be null and void. Subject to the restrictions set forth in the Award, the Participant generally shall have the
rights and privileges of a shareholder as to such Restricted Stock, including the right to vote such Restricted Stock and the right to
receive dividends; provided that, any cash dividends and stock dividends with respect to the Restricted Stock shall be withheld
by the Company for the Participant’s account, and interest may be credited on the amount of the cash dividends withheld at a rate
and subject to such terms as determined by the Committee. The cash dividends or stock dividends so withheld by the Committee and attributable
to any particular share of Restricted Stock (and earnings thereon, if applicable) shall be distributed to the Participant in cash or,
at the discretion of the Committee, in shares of Common Stock having a Fair Market Value equal to the amount of such dividends, if applicable,
upon the release of restrictions on such share and, if such share is forfeited, the Participant shall have no right to such dividends.

 

(b)      
The terms and conditions of a grant of Restricted Stock Units shall be reflected in an Award Agreement. No shares of Common Stock
shall be issued at the time a Restricted Stock Unit is granted, and the Company will not be required to set aside funds for the payment
of any such Award. A Participant shall have no voting rights with respect to any Restricted Stock Units granted hereunder. The Committee
may also grant Restricted Stock Units with a deferral feature, whereby settlement is deferred beyond the vesting date until the occurrence
of a future payment date or event set forth in an Award Agreement (“Deferred Stock Units”). At the discretion of the
Committee, each Restricted Stock Unit or Deferred Stock Unit (representing one share of Common Stock) may be credited with an amount equal
to the cash and stock dividends paid by the Company in respect of one share of Common Stock (“Dividend Equivalents”).
Dividend Equivalents shall be withheld by the Company and credited to the Participant’s account, and interest may be credited on
the amount of cash Dividend Equivalents credited to the Participant’s account at a rate and subject to such terms as determined
by the Committee. Dividend Equivalents credited to a Participant’s account and attributable to any particular Restricted Stock Unit
or Deferred Stock Unit (and earnings thereon, if applicable) shall be distributed in cash or, at the discretion of the Committee, in shares
of Common Stock having a Fair Market Value equal to the amount of such Dividend Equivalents and earnings, if applicable, to the Participant
upon settlement of such Restricted Stock Unit or Deferred Stock Unit and, if such Restricted Stock Unit or Deferred Stock Unit is forfeited,
the Participant shall have no right to such Dividend Equivalents.

 

8.2              
Restrictions.

 

(a)   
Restricted Stock awarded to a Participant shall be subject to the following restrictions until the expiration of the Restricted
Period, and to such other terms and conditions as may be set forth in the applicable Award Agreement: (A) if an escrow arrangement is
used, the Participant shall not be entitled to delivery of the stock certificate; (B) the shares shall be subject to the restrictions
on transferability set forth in the Award Agreement; (C) the shares shall be subject to forfeiture to the extent provided in the applicable
Award Agreement; and (D) to the extent such shares are forfeited, the stock certificates shall be returned to the Company, and all rights
of the Participant to such shares and as a shareholder with respect to such shares shall terminate without further obligation on the part
of the Company.

 

(b)   
Restricted Stock Units and Deferred Stock Units awarded to any Participant shall be subject to (A) forfeiture until the expiration
of the Restricted Period, and satisfaction of any applicable Performance Goals during such period, to the extent provided in the applicable
Award Agreement, and to the extent such Restricted Stock Units or Deferred Stock Units are forfeited, all rights of the Participant to
such Restricted Stock Units or Deferred Stock Units shall terminate without further obligation on the part of the Company and (B) such
other terms and conditions as may be set forth in the applicable Award Agreement.

 

 

    	 	12	 

     

    

 

(c)   
The Committee shall have the authority to remove any or all of the restrictions on the Restricted Stock, Restricted Stock Units
and Deferred Stock Units whenever it may determine that, by reason of changes in Applicable Laws or other changes in circumstances arising
after the date the Restricted Stock or Restricted Stock Units or Deferred Stock Units are granted, such action is appropriate.

 

8.3              
Restricted Period. With respect to Restricted Awards,
the Restricted Period shall commence on the Grant Date and end at the time or times set forth on a schedule established by the Committee
in the applicable Award Agreement. No Restricted Award may be granted or settled for a fraction of a share of Common Stock.

 

8.4              
Delivery of Restricted Stock and Settlement of Restricted Stock Units.
Upon the expiration of the Restricted Period with respect to any shares of Restricted Stock, the restrictions set forth in Section 8.2
and the applicable Award Agreement shall be of no further force or effect with respect to such shares, except as set forth in the applicable
Award Agreement. If an escrow arrangement is used, upon such expiration, the Company shall deliver to the Participant, or his or her beneficiary,
without charge, the stock certificate evidencing the shares of Restricted Stock which have not then been forfeited and with respect to
which the Restricted Period has expired (to the nearest full share) and any cash dividends or stock dividends credited to the Participant’s
account with respect to such Restricted Stock and the interest thereon, if any. Upon the expiration of the Restricted Period with respect
to any outstanding Restricted Stock Units, or at the expiration of the deferral period with respect to any outstanding Deferred Stock
Units, the Company shall deliver to the Participant, or his or her beneficiary, without charge, one share of Common Stock for each such
outstanding vested Restricted Stock Unit or Deferred Stock Unit (“Vested Unit”) and cash equal to any Dividend Equivalents
credited with respect to each such Vested Unit in accordance with Section 8.1(b) hereof and the interest thereon or, at the discretion
of the Committee, in shares of Common Stock having a Fair Market Value equal to such Dividend Equivalents and the interest thereon, if
any; provided, however, that, if explicitly provided in the applicable Award Agreement, the Committee may, in its sole discretion,
elect to pay cash or part cash and part Common Stock in lieu of delivering only shares of Common Stock for Vested Units. If a cash payment
is made in lieu of delivering shares of Common Stock, the amount of such payment shall be equal to the Fair Market Value of the Common
Stock as of the date on which the Restricted Period lapsed in the case of Restricted Stock Units, or the delivery date in the case of
Deferred Stock Units, with respect to each Vested Unit.

 

8.5              
Stock Restrictions. Each certificate representing Restricted
Stock awarded under the Plan shall bear a legend in such form as the Company deems appropriate.

 

9.                  
Performance Share Awards.
Each Performance Share Award granted under the Plan shall be evidenced by an Award Agreement. Each Performance Share Award so granted
shall be subject to the conditions set forth in this Section 9, and to such other conditions not inconsistent with the Plan as may be
reflected in the applicable Award Agreement. The Committee shall have the discretion to determine: (i) the number of shares of Common
Stock or stock-denominated units subject to a Performance Share Award granted to any Participant; (ii) the Performance Period applicable
to any Award; (iii) the conditions that must be satisfied for a Participant to earn an Award; and (iv) the other terms, conditions and
restrictions of the Award.

 

9.1              
Earning Performance Share Awards. The number of Performance
Shares earned by a Participant will depend on the extent to which the performance goals established by the Committee are attained within
the applicable Performance Period, as determined by the Committee.

 

10.              
Other Equity-Based Awards and Cash Awards. The Committee may grant Other Equity-Based
Awards, either alone or in tandem with other Awards, in such amounts and subject to such conditions as the Committee shall determine in
its sole discretion. Each Equity-Based Award shall be evidenced by an Award Agreement and shall be subject to such conditions, not inconsistent
with the Plan, as may be reflected in the applicable Award Agreement. The Committee may grant Cash Awards in such amounts and subject
to such Performance Goals, other vesting conditions, and such other terms as the Committee determines in its discretion. Cash Awards shall
be evidenced in such form as the Committee may determine.

 

11.              
Securities Law Compliance. Each
Award Agreement shall provide that no shares of Common Stock shall be purchased or sold thereunder unless and until (a) any then applicable
requirements of state or federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its
counsel and (b) if required to do so by the Company, the Participant has executed and delivered to the Company a letter of investment
intent in such form and containing such provisions as the Committee may require. The Company shall use reasonable efforts to seek to obtain
from each regulatory commission or agency having jurisdiction over the Plan such authority as may be required to grant Awards and to issue
and sell shares of Common Stock upon exercise of the Awards; provided, however, that this undertaking shall not require the Company
to register under the Securities Act the Plan, any Award or any Common Stock issued or issuable pursuant to any such Award. If, after
reasonable efforts, the Company is unable to obtain from any such regulatory commission or agency the authority which counsel for the
Company deems necessary for the lawful issuance and sale of Common Stock under the Plan, the Company shall be relieved from any liability
for failure to issue and sell Common Stock upon exercise of such Awards unless and until such authority is obtained.

 

 

    	 	13	 

     

    

 

12.              
Use of Proceeds from Stock. Proceeds from the sale of Common Stock pursuant
to Awards, or upon exercise thereof, shall constitute general funds of the Company.

 

13.              
Miscellaneous.

 

13.1          
Acceleration of Exercisability and Vesting. The Committee
shall have the power to accelerate the time at which an Award may first be exercised or the time during which an Award or any part thereof
will vest in accordance with the Plan, notwithstanding the provisions in the Award stating the time at which it may first be exercised
or the time during which it will vest.

 

13.2          
Shareholder Rights. Except as provided in the Plan or an Award Agreement, no Participant shall be deemed to be the holder
of, or to have any of the rights of a holder with respect to, any shares of Common Stock subject to such Award unless and until such Participant
has satisfied all requirements for exercise of the Award pursuant to its terms and no adjustment shall be made for dividends (ordinary
or extraordinary, whether in cash, securities or other property) or distributions of other rights for which the record date is prior to
the date such Common Stock certificate is issued, except as provided in Section 14 hereof.

 

13.3          
No Employment or Other Service Rights. Nothing in the Plan or any instrument executed or Award granted pursuant thereto
shall confer upon any Participant any right to continue to serve the Company or an Affiliate in the capacity in effect at the time the
Award was granted or shall affect the right of the Company or an Affiliate to terminate (a) the employment of an Employee with or without
notice and with or without Cause or (b) the service of a Director pursuant to the By-laws of the Company or an Affiliate, and any applicable
provisions of the corporate law of the state in which the Company or the Affiliate is incorporated, as the case may be.

 

13.4          
Transfer; Approved Leave of Absence. For purposes of the Plan, no termination of employment by an Employee shall be deemed
to result from either (a) a transfer of employment to the Company from an Affiliate or from the Company to an Affiliate, or from one Affiliate
to another, or (b) an approved leave of absence for military service or sickness, or for any other purpose approved by the Company, if
the Employee’s right to reemployment is guaranteed either by a statute or by contract or under the policy pursuant to which the
leave of absence was granted or if the Committee otherwise so provides in writing, in either case, except to the extent inconsistent with
Section 409A of the Code if the applicable Award is subject thereto.

 

13.5          
Withholding Obligations. To the extent provided by the terms of an Award Agreement and subject to the discretion of the
Committee, the Participant may satisfy any federal, state or local tax withholding obligation relating to the exercise or acquisition
of Common Stock under an Award by any of the following means (in addition to the Company’s right to withhold from any compensation
paid to the Participant by the Company) or by a combination of such means: (a) tendering a cash payment; (b) authorizing the Company to
withhold shares of Common Stock from the shares of Common Stock otherwise issuable to the Participant as a result of the exercise or acquisition
of Common Stock under the Award, provided, however, that no shares of Common Stock are withheld with a value exceeding the maximum
amount of tax required to be withheld by law; or (c) delivering to the Company previously owned and unencumbered shares of Common Stock
of the Company.

 

14.              
Adjustments Upon Changes in Stock.
In the event of changes in the outstanding Common Stock or in the capital structure of the Company by reason of any stock or extraordinary
cash dividend, stock split, reverse stock split, an extraordinary corporate transaction such as any recapitalization, reorganization,
merger, consolidation, combination, exchange, or other relevant change in capitalization occurring after the Grant Date of any Award,
Awards granted under the Plan and any Award Agreements, the exercise price of Options and Stock Appreciation Rights, the Performance Goals
to which Performance Share Awards and Cash Awards are subject, the maximum number of shares of Common Stock subject to all Awards stated
in Section 4 will be equitably adjusted or substituted, as to the number, price or kind of a share of Common Stock or other consideration
subject to such Awards to the extent necessary to preserve the economic intent of such Award. In the case of adjustments made pursuant
to this Section 14, unless the Committee specifically determines that such adjustment is in the best interests of the Company or its Affiliates,
the Committee shall, in the case of Incentive Stock Options, ensure that any adjustments under this Section 14 will not constitute a modification,
extension or renewal of the Incentive Stock Options within the meaning of Section 424(h)(3) of the Code and in the case of Non-qualified
Stock Options, ensure that any adjustments under this Section 14 will not constitute a modification of such Non-qualified Stock Options
within the meaning of Section 409A of the Code. Any adjustments made under this Section 14 shall be made in a manner which does not adversely
affect the exemption provided pursuant to Rule 16b-3 under the Exchange Act. The Company shall give each Participant notice of an adjustment
hereunder and, upon notice, such adjustment shall be conclusive and binding for all purposes.

 

 

    	 	14	 

     

    

 

15.              
Effect of Change in Control.

 

15.1          
Unless otherwise provided in an Award Agreement, notwithstanding any provision of the Plan to the contrary, in the event of a Change
in Control, the Committee may, but shall not be obligated to:

 

(a)                         
accelerate, vest or cause the restrictions to lapse with respect to all or any portion of any Award;

 

(b)                        
cancel Awards and cause to be paid to the holders of vested Awards the value of such Awards, if any, as determined by the Committee,
in its sole discretion, it being understood that in the case of any Option with an Option Exercise Price that equals or exceeds the price
paid for a share of Common Stock in connection with the Change in Control, the Committee may cancel the Option without the payment of
consideration therefor;

 

(c)                         
provide for the issuance of substitute Awards or the assumption or replacement of such Awards;

 

(d)                        
provide written notice to Participants that for a period of at least ten days prior to the Change in Control, such Awards shall
be exercisable, to the extent applicable, as to all shares of Common Stock subject thereto and upon the occurrence of the Change in Control,
any Awards not so exercised shall terminate and be of no further force and effect

 

(e)                         
with respect to Performance Share Awards and Cash Awards, in the event of a Change in Control, determine whether incomplete Performance
Periods in respect of such Awards in effect on the date the Change in Control occurs shall end on the date of such change, determine the
extent to which Performance Goals with respect to each such Performance Period have been met based upon such audited or unaudited financial
information then available as it deems relevant and/or cause to be paid to the applicable Participant partial or full Awards with respect
to Performance Goals for each such Performance Period based upon the Committee’s determination of the degree of attainment of Performance
Goals or, if not determinable, assuming that the applicable “target” levels of performance have been attained, or on such
other basis determined by the Committee.

 

To the extent practicable,
any actions taken by the Committee under the immediately preceding clauses (a) and (b) shall occur in a manner and at a time which allows
affected Participants the ability to participate in the Change in Control with respect to the shares of Common Stock subject to their
Awards.

 

15.2          
In addition, in the event of a Change in Control, the Committee may in its discretion and upon at least 10 days’ advance
notice to the affected persons, cancel any outstanding Awards and pay to the holders thereof, in cash or stock, or any combination thereof,
the value of such Awards based upon the price per share of Common Stock received or to be received by other shareholders of the Company
in the event. In the case of any Option or Stock Appreciation Right with an exercise price (or SAR Exercise Price in the case of a Stock
Appreciation Right) that equals or exceeds the price paid for a share of Common Stock in connection with the Change in Control, the Committee
may cancel the Option or Stock Appreciation Right without the payment of consideration therefor.

 

15.3          
The obligations of the Company under the Plan shall be binding upon any successor corporation or organization resulting from the
merger, consolidation or other reorganization of the Company, or upon any successor corporation or organization succeeding to all or substantially
all of the assets and business of the Company and its Affiliates, taken as a whole.

 

16.              
Amendment of the Plan and Awards.

 

16.1          
Amendment of Plan. The Board at any time, and from time to time, may amend or terminate the Plan. However, except as provided
in Section 14 relating to adjustments upon changes in Common Stock and Section 16.3, no amendment shall be effective unless approved by
the shareholders of the Company to the extent shareholder approval is necessary to satisfy any Applicable Laws. At the time of such amendment,
the Board shall determine, upon advice from counsel, whether such amendment will be contingent on shareholder approval.

 

16.2          
Shareholder Approval. The Board may, in its sole discretion, submit any other amendment to the Plan for shareholder approval.

 

 

    	 	15	 

     

    

 

16.3          
Contemplated Amendments. It is expressly contemplated that the Board may amend the Plan in any respect the Board deems necessary
or advisable to provide eligible Employees, Consultants and Directors with the maximum benefits provided or to be provided under the provisions
of the Code and the regulations promulgated thereunder relating to Incentive Stock Options or to the nonqualified deferred compensation
provisions of Section 409A of the Code and/or to bring the Plan and/or Awards granted under it into compliance therewith.

 

16.4          
No Impairment of Rights. Rights under any Award granted before amendment of the Plan shall not be impaired by any amendment
of the Plan unless (a) the Company requests the consent of the Participant and (b) the Participant consents in writing.

 

16.5          
Amendment of Awards. The Committee at any time, and from time to time, may amend the terms of any one or more Awards; provided,
however, that the Committee may not affect any amendment which would otherwise constitute an impairment of the rights under any Award
unless (a) the Company requests the consent of the Participant and (b) the Participant consents in writing.

 

17.              
General Provisions.

 

17.1          
Forfeiture Events. The Committee may specify in an Award Agreement that the Participant’s rights, payments and benefits
with respect to an Award shall be subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain events,
in addition to applicable vesting conditions of an Award. Such events may include, without limitation, breach of non-competition, non-solicitation,
confidentiality, or other restrictive covenants that are contained in the Award Agreement or otherwise applicable to the Participant,
a termination of the Participant’s Continuous Service for Cause, or other conduct by the Participant that is detrimental to the
business or reputation of the Company and/or its Affiliates.

 

17.2          
Clawback. Notwithstanding any other provisions in this Plan, the Company may cancel any Award, require reimbursement of
any Award by a Participant, and effect any other right of recoupment of equity or other compensation provided under the Plan in accordance
with any Company policies that may be adopted and/or modified from time to time (“Clawback Policy”). In addition, a
Participant may be required to repay to the Company previously paid compensation, whether provided pursuant to the Plan or an Award Agreement,
in accordance with the Clawback Policy. By accepting an Award, the Participant is agreeing to be bound by the Clawback Policy, as in effect
or as may be adopted and/or modified from time to time by the Company in its discretion (including, without limitation, to comply with
applicable law or stock exchange listing requirements).

 

17.3          
Other Compensation Arrangements. Nothing contained in this Plan shall prevent the Board from adopting other or additional
compensation arrangements, subject to shareholder approval if such approval is required; and such arrangements may be either generally
applicable or applicable only in specific cases.

 

17.4          
Sub-Plans. The Committee may from time to time establish sub-plans under the Plan for purposes of satisfying securities,
tax or other laws of various jurisdictions in which the Company intends to grant Awards. Any sub-plans shall contain such limitations
and other terms and conditions as the Committee determines are necessary or desirable. All sub-plans shall be deemed a part of the Plan,
but each sub-plan shall apply only to the Participants in the jurisdiction for which the sub-plan was designed.

 

17.5          
Deferral of Awards. The Committee may establish one or more programs under the Plan to permit selected Participants the
opportunity to elect to defer receipt of consideration upon exercise of an Award, satisfaction of performance criteria, or other event
that absent the election would entitle the Participant to payment or receipt of shares of Common Stock or other consideration under an
Award. The Committee may establish the election procedures, the timing of such elections, the mechanisms for payments of, and accrual
of interest or other earnings, if any, on amounts, shares or other consideration so deferred, and such other terms, conditions, rules
and procedures that the Committee deems advisable for the administration of any such deferral program. Any such deferral program must
comply with Section 409A.

 

17.6          
Unfunded Plan. The Plan shall be unfunded. Neither the Company, the Board nor the Committee shall be required to establish
any special or separate fund or to segregate any assets to assure the performance of its obligations under the Plan.

 

17.7          
Recapitalizations. Each Award Agreement shall contain provisions required to reflect the provisions of Section 14.

 

17.8          
Delivery. Upon exercise of a right granted under this Plan, the Company shall issue Common Stock or pay any amounts due
within a reasonable period of time thereafter. Subject to any statutory or regulatory obligations the Company may otherwise have, for
purposes of this Plan, 30 days shall be considered a reasonable period of time.

 

 

    	 	16	 

     

    

 

17.9          
No Fractional Shares. No fractional shares of Common Stock shall be issued or delivered pursuant to the Plan. The Committee
shall determine whether cash, additional Awards or other securities or property shall be issued or paid in lieu of fractional shares of
Common Stock or whether any fractional shares should be rounded, forfeited or otherwise eliminated.

 

17.10       
Other Provisions. The Award Agreements authorized under the Plan may contain such other provisions not inconsistent with
this Plan, including, without limitation, restrictions upon the exercise of Awards, as the Committee may deem advisable.

 

17.11       
Section 409A. The Plan is intended to comply with Section 409A of the Code to the extent subject thereto, and, accordingly,
to the maximum extent permitted, the Plan shall be interpreted and administered to be in compliance therewith. Any payments described
in the Plan that are due within the “short-term deferral period” as defined in Section 409A of the Code shall not be treated
as deferred compensation unless Applicable Laws require otherwise. Notwithstanding anything to the contrary in the Plan, to the extent
required to avoid accelerated taxation and tax penalties under Section 409A of the Code, amounts that would otherwise be payable and benefits
that would otherwise be provided pursuant to the Plan during the six (6) month period immediately following the Participant’s termination
of Continuous Service shall instead be paid on the first payroll date after the six-month anniversary of the Participant’s separation
from service (or the Participant’s death, if earlier). Notwithstanding the foregoing, neither the Company nor the Committee shall
have any obligation to take any action to prevent the assessment of any additional tax or penalty on any Participant under Section 409A
of the Code and neither the Company nor the Committee will have any liability to any Participant for such tax or penalty.

 

17.12       
Disqualifying Dispositions. Any Participant who shall make a “disposition” (as defined in Section 424 of the
Code) of all or any portion of shares of Common Stock acquired upon exercise of an Incentive Stock Option within two years from the Grant
Date of such Incentive Stock Option or within one year after the issuance of the shares of Common Stock acquired upon exercise of such
Incentive Stock Option (a “Disqualifying Disposition”) shall be required to immediately advise the Company in writing
as to the occurrence of the sale and the price realized upon the sale of such shares of Common Stock.

 

17.13       
Section 16. It is the intent of the Company that the Plan satisfy, and be interpreted in a manner that satisfies, the applicable
requirements of Rule 16b-3 as promulgated under Section 16 of the Exchange Act so that Participants will be entitled to the benefit of
Rule 16b-3, or any other rule promulgated under Section 16 of the Exchange Act, and will not be subject to short-swing liability under
Section 16 of the Exchange Act. Accordingly, if the operation of any provision of the Plan would conflict with the intent expressed in
this Section 17.13, such provision to the extent possible shall be interpreted and/or deemed amended so as to avoid such conflict.

 

17.14       
Beneficiary Designation. Each Participant under the Plan may from time to time name any beneficiary or beneficiaries by
whom any right under the Plan is to be exercised in case of such Participant’s death. Each designation will revoke all prior designations
by the same Participant, shall be in a form reasonably prescribed by the Committee and shall be effective only when filed by the Participant
in writing with the Company during the Participant’s lifetime.

 

17.15       
Expenses. The costs of administering the Plan shall be paid by the Company.

 

17.16       
Severability. If any of the provisions of the Plan or any Award Agreement is held to be invalid, illegal or unenforceable,
whether in whole or in part, such provision shall be deemed modified to the extent, but only to the extent, of such invalidity, illegality
or unenforceability and the remaining provisions shall not be affected thereby.

 

17.17       
Headings. The headings in the Plan are for purposes of convenience only and are not intended to define or limit the construction
of the provisions hereof.

 

17.18       
Non-Uniform Treatment. The Committee’s determinations under the Plan need not be uniform and may be made by it selectively
among persons who are eligible to receive, or actually receive, Awards. Without limiting the generality of the foregoing, the Committee
shall be entitled to make non-uniform and selective determinations, amendments and adjustments, and to enter into non-uniform and selective
Award Agreements.

 

18.              
Effective Date of Plan. The Plan shall become effective as of the Effective
Date, but no Award shall be exercised (or, in the case of a stock Award, shall be granted) unless and until the Plan has been approved
by the shareholders of the Company, which approval shall be within twelve (12) months before or after the date the Plan is adopted by
the Board.

 

 

    	 	17	 

     

    

 

19.              
Termination or Suspension of the Plan. The Plan shall terminate automatically
on the tenth (10th) anniversary of the Effective Date. No Award shall be granted pursuant to the Plan after such date, but
(subject to Sections 5.2, 6.1 and 7.2) Awards theretofore granted may extend beyond that date. The Board may suspend or terminate the
Plan at any earlier date pursuant to Section 16.1 hereof. No Awards may be granted under the Plan while the Plan is suspended or after
it is terminated.

 

20.              
Choice of Law. The law of the
State of Delaware shall govern all questions concerning the construction, validity and interpretation of this Plan, without regard to
such state’s conflict of law rules.

 

 

 

 

 

 

 

    	 	18

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