Document:

Exhibit 10.1

 

POWERBRIDGE TECHNOLOGIES CO., LTD.

Amended 2018 Stock Option Plan

 

	1.	Purposes of the Plan. The purposes of this Plan are to attract and retain the best available personnel,
to provide additional incentives to Employees, Directors and Consultants and to promote the success of the Company’s business.

 

	2.	Definitions. The following definitions shall apply as used herein and in the individual Stock Option
Agreements except as defined otherwise in an individual Stock Option Agreement. In the event a term is separately defined in an individual
Stock Option Agreement, such definition shall supersede the definition contained in this Section.

 

		(a)	“Administrator” means the Board or any of the Committees appointed to administer the
Plan or such Officer or Officers as authorized by the Board or any of the Committees appointed to administer the Plan.

 

		(b)	“Affiliate” and “Associate” shall have the respective meanings ascribed
to such terms in Rule 12b-2 promulgated under the Exchange Act.

 

		(c)	“Applicable Laws” means the legal requirements relating to the Plan and the Awards
under applicable provisions of the corporate and securities laws of any jurisdiction, the Code, the rules of any applicable stock exchange
or national market system, and the rules of any jurisdiction applicable to Awards granted to residents therein.

 

		(d)	“Appointment Letter” refers to documentation that describes the terms and conditions
in which each Employee, Director, or Consultant is employed, appointed, or enlisted to service the Company and/or its subsidiaries and
affiliated companies.

 

		(e)	“Articles” refers to the Company’s Memorandum of Articles of Association (Approved
at the general meeting dated August 18, 2018).

 

		(f)	“Award” means an
                                            Option, Restricted Share or Restricted Share Unit award granted to a Participant pursuant
                                            to the Plan or any other equity incentive award granted to a Participant by the Company pursuant
                                            to the authorizations of the Committee and the Plan.

 

		(g)	“Board” means the Board of Directors of the Company.

 

		(h)	“Change in Control” means a change in ownership or control of the Company effected
through either of the following transactions:

 

		i.	the direct or indirect acquisition by any person or related group of persons (other than an acquisition
from or by the Company or by a Company-sponsored employee benefit plan or by a person that directly or indirectly controls, is controlled
by, or is under common control with, the Company) of beneficial ownership (within the meaning of Rule13d-3 of the Exchange Act) of securities
possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities pursuant to
a tender or exchange offer made directly to the Company’s shareholders which a majority of the Continuing Directors who are not
Affiliates or Associates of the offeror do not recommend such shareholders accept, or

 

     

    

    

 

		ii.	a change in the composition of the Board over a period of thirty-six (36) months or less such that a majority
of the Board members (rounded up to the next whole number) ceases, by reason of one or more contested elections for Board membership,
to be comprised of individuals who are Continuing Directors.

 

		(i)	“Code” means the Internal Revenue Code of 1986, as amended.

 

		(j)	“Committee” means any committee composed of members of the Board appointed by the Board
to administer the Plan, including but not limited to the Compensation Committee as appointed by the Board.

 

		(k)	“Company” means Powerbridge Technologies Co., Ltd., an exempt company incorporated in Cayman Islands.

 

		(l)	“Consultant” means any person (other than an Employee or a Director, solely with respect
to rendering services in such person’s capacity as a Consultant) who is engaged by the Company or any Related Entity to render consulting
or advisory services to the Company or such Related Entity.

 

		(m)	“Continuing Directors” means members of the Board who either (i) have been Board members
continuously for a period of at least thirty-six (36) months or (ii) have been Board members for less than thirty-six (36) months and
were elected or nominated for election as Board members by at least a majority of the Board members described in clause (i) who were still
in office at the time such election or nomination was approved by the Board.

 

		(n)	“Continuous Service” means that the provision of services to the Company or a Related
Entity in any capacity of Employee, Director or Consultant (collectively, “Service Provider”) is not interrupted or terminated.
In jurisdictions requiring notice in advance of an effective termination as an Employee, Director or Consultant, Continuous Service shall
be deemed terminated upon the actual cessation of providing services to the Company or a Related Entity notwithstanding any required notice
period that must be fulfilled before a termination as an Employee, Director or Consultant can be effective under Applicable Laws. An Participant’s
Continuous Service shall be deemed to have terminated either upon an actual termination of Continuous Service or upon the entity for which
the Participant provides services ceasing to be a Related Entity. Continuous Service shall not be considered interrupted in the case of
(i) any approved leave of absence, (ii) transfers among the Company, any Related Entity, or any successor, in any capacity of Employee,
Director or Consultant, or (iii) any change in status as long as the individual remains in the service of the Company or a Related Entity
in any capacity of Employee, Director or Consultant (except as otherwise provided in the Award Agreement). An approved leave of absence
shall include sick leave, military leave, or any other authorized personal leave.

 

		(o)	“Corporate Transaction” means any of the following transactions, provided, however,
that the Administrator shall determine under parts (iv) and (v) whether multiple transactions are related, and its determination shall
be final, binding and conclusive:

 

		i.	a merger or consolidation in which the Company is not the surviving entity, except for a transaction the
principal purpose of which is to change the jurisdiction in which the Company is incorporated;

 

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		ii.	the sale, transfer or other disposition of all or substantially all of the assets of the Company;

 

		iii.	the complete liquidation or dissolution of the Company;

 

		iv.	any reverse merger or series of related transactions culminating in a reverse merger (including, but not
limited to, a tender offer followed by a reverse merger) in which the Company is the surviving entity but (A) the Ordinary Shares outstanding
immediately prior to such merger are converted or exchanged by virtue of the merger into other property, whether in the form of securities,
cash or otherwise, or (B) in which securities possessing more than forty percent (40%) of the total combined voting power of the Company’s
outstanding securities are transferred to a person or persons different from those who held such securities immediately prior to such
merger or the initial transaction culminating in such merger, but excluding any such transaction or series of related transactions that
the Administrator determines shall not be a Corporate Transaction; or

 

		v.	acquisition in a single or series of related transactions by any person or related group of persons (other
than the Company or by a Company-sponsored employee benefit plan) of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange
Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities
but excluding any such transaction or series of related transactions that the Administrator determines shall not be a Corporate Transaction.

 

		(p)	“Director” means a member of the Board or the board of directors of any Related Entity.

 

		(q)	“Disability” means as defined under the long-term disability policy of the Company
or the Related Entity to which the Participant provides services regardless of whether the Participant is covered by such policy. If the
Company or the Related Entity to which the Participant provides service does not have a long-term disability plan in place, “Disability”
means that an Participant is unable to carry out the responsibilities and functions of the position held by the Participant by reason
of any medically determinable physical or mental impairment for a period of not less than ninety (90) consecutive days. An Participant
will not be considered to have incurred a Disability unless he or she furnishes proof of such impairment sufficient to satisfy the Administrator
in its discretion.

 

		(r)	“Effective Date” means the date the Plan is adopted and approved by the shareholders
of the Company, whether it be the first time the Plan is approved, or each date the Plan is renewed pursuant to shareholder approval in
subsequent terms.

 

		(s)	“Employee” means any person, including an Officer or Director, who is in the employment
of the Company or any Related Entity, subject to the control and direction of the Company or any Related Entity as to both the work to
be performed and the manner and method of performance. The payment of a director’s fee by the Company or a Related Entity shall
not be sufficient to constitute “employment” by the Company.

 

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

 

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		(u)	“Fair Market Value” means, as of any date, the value of the subject Shares determined
as follows:

 

		i.	If the Shares at issue are listed on one or more established stock exchanges or national market systems,
including without limitation the American Stock Exchange or The Nasdaq Global Market, its Fair Market Value shall be the closing sales
price for such shares (or the closing bid, if no sales were reported) as quoted on the principal exchange or system on which the subject
Shares are listed (as determined by the Administrator) on the date of determination (or, if no closing sales price or closing bid was
reported on that date, as applicable, on the last trading date such closing sales price or closing bid was reported), as reported in The
Wall Street Journal or such other source as the Administrator deems reliable;

 

		ii.	If the subject Shares are regularly quoted on an automated quotation system (including the OTC Bulletin
Board) or by a recognized securities dealer, its Fair Market Value shall be the closing sales price for such shares as quoted on such
system on the date of determination, but if selling prices are not reported, the Fair Market Value of the subject Shares shall be the
mean between the high bid and low asked prices for the Shares on the date of determination (or, if no such prices were reported on that
date, on the last date such prices were reported), as reported in The Wall Street Journal or such other source as the Administrator deems
reliable; or

 

		iii.	In the absence of an established market for the subject Shares of the type described in (i) and (ii),
above, the Fair Market Value thereof shall be determined by the Administrator in good faith.

 

		(v)	“Listing” refers to a successful initial public offering in the Company’s Ordinary
Shares to be traded on a globally accredited stock exchange.

 

		(w)	“Incentive Share Option” means an Option that is to qualify as an Incentive Share Option
as such term is defined in Section 422 of the Code.

 

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

 

		(y)	“Option” means an option to purchase Ordinary Shares pursuant to an Option Agreement
granted under the Plan.

 

		(z)	“Ordinary Shares” means the Ordinary Shares in the capital of the Company having a
par value of USD0.00166667 each having rights, and subject to the restrictions provided in the Company’s Articles. One Ordinary
Share shall equate to one vote per share for each share held by the shareholder and cannot be converted to any other class of share at
any time.

 

		(aa)	“Participant” means
                                            a person who, as a member of the Board, Consultant or Employee, has been granted an Award
                                            pursuant to the Plan.

 

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		(bb)	“Plan” means this Powerbridge Technologies Co., Ltd. 2018 Stock Option Plan, as amended
from time to time.

 

		(cc)	“Related Entity” means any Parent or Subsidiary of the Company and any business, corporation,
partnership, limited liability company or other entity in which the Company or a Parent or a Subsidiary of the Company holds a substantial
ownership interest, directly or indirectly.

 

		(dd)	“Replaced” means that pursuant to a Corporate Transaction the Award is replaced with
a comparable Award or a cash incentive program of the Company, the successor entity (if applicable) or Parent of either of them which
preserves the compensation element of such Award existing at the time of the Corporate Transaction and provides for subsequent payout
in accordance with the same (or a more favorable) vesting schedule applicable to such Award. The determination of Award comparability
shall be made by the Administrator and its determination shall be final, binding and conclusive.

 

		(ee)	“Restricted Shares”
                                            means a Share awarded to a Participant pursuant to Section 9 that is subject to certain restrictions
                                            and may be subject to risk of forfeiture.

 

		(ff)	“Restricted Share Units”
                                            means the right granted to a Participant pursuant to Section 10 to receive a Share at a future
                                            date.

 

		(gg)	“Share” or “Shares” means Ordinary Shares of the Company.

 

		(hh)	“Stock Option Agreement”, “Award Agreement” or “Option
Agreement” means the written agreement evidencing the grant of an Award executed by the Company and the Participant, including
any amendments thereto.

 

		(ii)	“Subsidiary” means a “subsidiary corporation”, whether now or hereafter
existing, as defined in Section 424(f) of the Code.

 

		(jj)	“Trading Market Approval” means the pre-approval required from the globally accredited
stock exchange or other stock exchange on which the Company’s Shares are then listed for trading for certain Share issuances.

 

	3.	Shares Subject to the Plan.

 

		(a)	Subject to the provisions of Section 10 below, the total number of Ordinary Shares in the capital of the
Company issuable upon the exercise of all outstanding Awards granted under this Plan shall not at any time exceed 20% of the total number
of outstanding Ordinary Shares, from time to time.

 

		(b)	Further, if, after the Effective Date of the Plan, any Shares underlying an Award are forfeited, or if
an Award otherwise terminates without the delivery of Shares or of other consideration, then the Shares underlying such Award, or the
number of Shares otherwise counted against the aggregate number of Shares available under the Plan with respect to the Award, to the extent
of any such forfeiture or termination, shall again be, or shall become, available for granting Awards under the Plan.

 

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	4.	Administration of the Plan.

 

		(a)	Plan Administrator.

 

		i.	Administration with Respect to Directors and Officers. With respect to grants of Awards to Directors
or Employees who are also Officers or Directors of the Company, the Plan shall be administered by (A) the Board or (B) the Compensation
Committee designated by the Board, which Compensation Committee shall be constituted in such a manner as to satisfy the Applicable Laws.
Once appointed, such Compensation Committee shall continue to serve in its designated capacity contingent to its members’ ongoing
fulfillment of obligations, the terms of termination of Committee members as stipulated by their Appointment Letters, or until otherwise
directed by the Board. In the case of Awards for Employees or Consultants who are neither Directors nor Officers of the Company, the Board
may authorize one or more Officers to grant such Awards and may limit such authority as the Board determines from time to time.

 

		ii.	Administration Errors. In the event an Award is granted in a manner inconsistent with the
provisions of this subsection (a), such Award shall be presumptively valid as of its grant date to the extent permitted by the Applicable
Laws.

 

		(b)	Powers of the Administrator. Subject to Applicable Laws, especially but not limited to those regarding
shareholders approval, and the provisions of the Plan (including any other powers given to the Administrator hereunder), and except as
otherwise provided by the Board, the Administrator shall have the authority, in its discretion:

 

		i.	To select the Employees, Directors and Consultants to whom Awards may be granted;

 

		ii.	To determine whether and to what extent Awards are granted hereunder;

 

		iii.	To determine the number of Shares or the amount of other consideration to be covered by each Award granted
hereunder;

 

		iv.	To approve forms of Award Agreements for use under the Plan;

 

		v.	To determine the terms and conditions of any Award subject to the terms and conditions contained herein

 

		vi.	To amend the terms of any outstanding Award granted under the Plan, provided that (A) any amendment that
would adversely affect the Participant’s rights under an outstanding Award shall not be made without the Participant’s written
consent, (B) the reduction of the exercise price of any Option shall be subject to the Participant’s written consent and (C) canceling
an Option at a time when its exercise price exceeds the Fair Market Value of the underlying Shares, in exchange for another Option shall
be subject to the Participant’s approval, unless the cancellation and exchange occurs in connection with a Corporate Transaction.
Notwithstanding the foregoing, canceling an Option in exchange for another Option with an exercise price, purchase price that is equal
to or greater than the exercise price of the original Option shall not be subject to the Participant’s approval;

 

		vii.	To construe and interpret the terms of the Plan and Awards, including without limitation, any notice of
Award or Award Agreement, granted pursuant to the Plan;

 

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		viii.	To take such other action, not inconsistent with the terms of the Plan, as the Administrator deems appropriate.

 

		(c)	Indemnification. In addition to such other rights of indemnification as they may have as members
of the Board or as Officers or Employees of the Company or a Related Entity, members of the Board and any Officers or Employees of the
Company or a Related Entity to whom authority to act for the Board, the Administrator or the Company is delegated shall be defended and
indemnified by the Company to the extent permitted by law on an after-tax basis against all reasonable expenses, including attorneys’
fees, actually and necessarily incurred in connection with the defense of any claim, investigation, action, suit or proceeding, or in
connection with any appeal therein, to which they or any of them may be a party by reason of any action taken or failure to act under
or in connection with the Plan, or any Award granted hereunder, and against all amounts paid by them in settlement thereof (provided such
settlement is approved by the Company) or paid by them in satisfaction of a judgment in any such claim, investigation, action, suit or
proceeding, except in relation to matters as to which it shall be adjudged in such claim, investigation, action, suit or proceeding that
such person is liable for gross negligence, bad faith or intentional misconduct; provided, however, that within thirty (30) days
after the institution of such claim, investigation, action, suit or proceeding, such person shall offer to the Company, in writing, the
opportunity at the Company’s expense to defend the same.

 

For the purpose of this clause “gross
negligence” means in relation to a person a standard of conduct constituting extreme carelessness, beyond ordinary negligence, whereby
that person’s actions or inactions demonstrate reckless disregards for the duty of care owed to another.

 

	5.	Eligibility. The Participants shall be such persons as the Administrator may select from among
the Employees, Directors, and Consultants.

 

	6.	Terms and Conditions of Options.

 

		a.	Designation of Option. Each Option shall be designated in the Option Agreement.

 

		b.	Conditions of Option. Subject to the terms of the Plan, the Administrator shall determine the provisions,
terms, and conditions of each Option including, but not limited to, the Option vesting schedule, repurchase provisions, rights of first
refusal, forfeiture provisions, form of payment (cash, Shares, cashless settlement, or other consideration) upon settlement of the Option,
payment contingencies and the exercise price.

 

		c.	Deferral of Option Payment. The Administrator 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 Option, or other event
that absent the election would entitle the Participant to payment or receipt of Shares or other consideration under an Option. The Administrator
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
Administrator deems advisable for the administration of any such deferral program.

 

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		d.	Early Exercise. The Option Agreement may, but need not, include a provision whereby the Participant
may elect at any time while an Employee, Director or Consultant to exercise any part or all of the Option prior to full vesting of the
Option. Any unvested Shares received pursuant to such exercise may be subject to a repurchase right in favor of the Company or a Related
Entity or to any other restriction the Administrator determines to be appropriate.

 

		e.	Term of Option. The term of each Option shall be the term stated in the Option Agreement, provided,
however that in the case of an option that is to qualify as an Incentive Share Option, the term shall not exceed ten (10) years.

 

		f.	Transferability of Options. Options shall be transferable (i) at will and by the laws of succession
and distribution; (ii) during the lifetime of the Participant, to the extent and in the manner authorized by the Administrator; and (iii)
upon delivery of a written assignment of the Options duly executed by the Participant at the principal office of the Company, along with
the Options and funds sufficient to pay any transfer taxes payable upon the making of such transfer. The Participant shall surrender its
Options to the Company within seven (7) calendar days of the date on which the Participant delivers the assignment form to the Company
assigning its Options. Upon such surrender and, if required, such payment, the Company shall execute and deliver new Options in the name
of the assignee and shall promptly cancel the surrendered Options. Notwithstanding the foregoing, the Participant may designate one or
more beneficiaries of the Participant’s Option in the event of the Participant’s death on a beneficiary designation form provided
by the Administrator

 

		g.	Termination of Employment Other than by Death or Disability.

 

		i.	If an Participant ceases to be an Employee for any reason other than his or her death or disability, the
Participant shall have the right, subject to the provisions of this Section 6, to exercise any Option held by the Participant at any time
within sixty (60) days after his or her termination of employment, but not beyond the otherwise applicable term of the Option and only
to the extent that on such date of termination of employment the Participant’s right to exercise such Option has vested.

 

		ii.	For purposes of this Section 6(j), the employment relationship shall be treated as continuing intact while
the Participant is an active Employee of the Company or any Affiliate, or is on military leave, sick leave, or other bona fide leave of
absence to be determined in the sole discretion of the Administrator.

 

		h.	Death of Participant. If an Participant dies while an Employee, or after ceasing to be an Employee
but during the period while he or she could have exercised an Option under Section 6(j), any Option granted to the Participant may be
exercised, to the extent it had vested at the time of death and subject to the Plan, at any time within six (6) months after the Participant’s
death, by the executors or administrators of his or her estate or by any person or persons who acquire the Option by will or the laws
of succession and distribution, but not beyond the otherwise applicable term of the Option.

 

		i.	Disability of Participant. If an Participant ceases to be an Employee due to becoming totally and
permanently disabled within the meaning of Section 22(e)(3) of the Code, any Option granted to the Participant may be exercised to the
extent it had vested at the time of cessation and, subject to the Plan, at any time within three (3) months after the Participant’s
termination of employment, but not beyond the otherwise applicable term of the Option.

 

		j.	Time of Granting Options. The date of grant of an Option shall for all purposes be on the date
which the Administrator makes the determination to grant such Option, or such other date as is determined by the Administrator.

 

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	7.	Option Exercise or Purchase Price, Consideration and Taxes.

 

		(a)	Exercise or Purchase Price. The Administrator shall determine the exercise or purchase price in
accordance with the Applicable Laws and/or pursuant to the Option Agreement to be executed between the Company and Participant, if applicable
or other relevant agreement between such parties.

 

		(b)	Consideration. Subject to Applicable Laws, the consideration to be paid for the Shares to be issued
upon exercise or purchase of an Option including the method of payment shall be determined by the Administrator. In addition to any other
types of consideration the Administrator may determine, the Administrator is authorized to accept as consideration for Shares issued under
the Plan the following:

 

		i.	cash;

 

		ii.	cheque;

 

		iii.	with respect to Options, payment through a broker-dealer sale and remittance procedure pursuant to which
the Participant (A) shall provide written instructions to a Company designated brokerage firm to effect the immediate sale of some or
all of the purchased Shares and remit to the Company sufficient funds to cover the aggregate exercise price payable for the purchased
Shares and (B) shall provide written directives to the Company to deliver the certificates for the purchased Shares directly to such brokerage
firm in order to complete the sale transaction;

 

		iv.	cashless election; or

 

		v.	any combination of the foregoing methods of payment.

 

		(c)	Taxes. No Shares shall be delivered under the Plan to any Participant or other person until such
Participant or other person has made arrangements acceptable to the Administrator for the satisfaction of any national, provincial or
local income and employment tax withholding obligations. Upon exercise of an Option the Company shall have the right, but not the obligation
(except as required by applicable law), to withhold or collect from Participant an amount sufficient to satisfy such tax obligations.
The Participant will be solely responsible for his/her own tax obligations.

 

	8.	Exercise of Option.

 

		(a)	Procedure for Exercise; Rights as a Shareholder.

 

		i.	Any Option granted hereunder shall be exercisable at such times and under such conditions as determined
by the Administrator under the terms of the Plan and specified in the Option Agreement.

 

		ii.	An Option shall be deemed to be exercised when written notice of such exercise has been given to the Company
in accordance with the terms of the Option by the person entitled to exercise the Option and when the Company receives full payment for
the Shares with respect to which the Option is exercised, including, to the extent selected, use of the broker-dealer sale and remittance
procedure to pay the purchase price as provided in Section 7(b)(iii).

 

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	9.	Restricted Shares.

 

		(a)	Grant of Restricted Shares. The Committee, at any time and from time to time, may grant Restricted
Shares to Participants as the Committee, in its sole discretion, shall determine. The Committee, in its sole discretion, shall determine
the number of Restricted Shares to be granted to each Participant.

 

		(b)	Restricted Shares Award Agreement. Each Award of Restricted Shares shall be evidenced by an Award
Agreement that shall specify the period of restriction, the number of Restricted Shares granted, and such other terms and conditions as
the Committee, in its sole discretion, shall determine. Unless the Committee determines otherwise, Restricted Shares shall be held by
the Company as escrow agent until the restrictions on such Restricted Shares have lapsed.

 

		(c)	Issuance and Restrictions. Restricted Shares shall be subject to such restrictions on transferability
and other restrictions as the Committee may impose (including, without limitation, limitations on the right to vote Restricted Shares
or the right to receive dividends on the Restricted Shares). These restrictions may lapse separately or in combination at such times,
pursuant to such circumstances, in such installments, or otherwise, as the Committee determines at the time of the grant of the Award
or thereafter.

 

		(d)	Forfeiture. Except as otherwise determined by the Committee at the time of the grant of the Award
or thereafter, upon termination of employment or service during the applicable restriction period, Restricted Shares that are at that
time subject to restrictions shall be forfeited in accordance with the Award Agreement; provided, however, that the Committee may (x)
provide in any Restricted Share Award Agreement that restrictions or forfeiture conditions relating to Restricted Shares will be waived
in whole or in part in the event of terminations resulting from specified causes, and (y) in other cases waive in whole or in part restrictions
or forfeiture conditions relating to Restricted Shares.

 

		(e)	Certificates for Restricted Shares. Restricted Shares granted pursuant to the Plan may be evidenced
in such manner as the Committee shall determine. If certificates representing Restricted Shares are registered in the name of the Participant,
certificates must bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Shares,
and the Company may, at its discretion, retain physical possession of the certificate until such time as all applicable restrictions lapse.

 

		(f)	Removal of Restrictions. Except as otherwise provided in this Article 9, Restricted Shares granted
under the Plan shall be released from escrow as soon as practicable after the last day of the period of restriction. The Committee, in
its discretion, may accelerate the time at which any restrictions shall lapse or be removed. After the restrictions have lapsed, the Participant
shall be entitled to have any legend or legends under Section 6.5 removed from his or her Share certificate, and the Shares shall be freely
transferable by the Participant, subject to applicable legal restrictions. The Committee (in its discretion) may establish procedures
regarding the release of Shares from escrow and the removal of legends, as necessary or appropriate to minimize administrative burdens
on the Company.

 

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	10.	Restricted Share Units

 

		(a)	Grant of Restricted Share Units. The Committee, at any time and from time to time, may grant Restricted
Share Units to Participants as the Committee, in its sole discretion, shall determine. The Committee, in its sole discretion, shall determine
the number of Restricted Share Units to be granted to each Participant.

 

		(b)	Restricted Share Units Award Agreement. Each Award of Restricted Share Units shall be evidenced
by an Award Agreement that shall specify any vesting conditions, the number of Restricted Share Units granted, and such other terms and
conditions as the Committee, in its sole discretion, shall determine (including, without limitation, limitations on the right to receive
dividend equivalents on the Restricted Share Units).

 

		(c)	Performance Objectives and Other Terms. The Committee, in its discretion, may set performance objectives
or other vesting criteria which, depending on the extent to which they are met, will determine the number or value of Restricted Share
Units that will be paid out to the Participants.

 

		(d)	Form and Timing of Payment of Restricted Share Units. At the time of grant, the Committee shall
specify the date or dates on which the Restricted Share Units shall become fully vested and nonforfeitable and the delivery schedule (which
may include deferred delivery later than the vesting date). Upon vesting, the Committee, in its sole discretion, may settle Restricted
Share Units in the form of cash, Shares or a combination thereof.

 

		(e)	Forfeiture. Except as otherwise determined by the Committee at the time of the grant of the Award
or thereafter, upon termination of employment or service during the applicable restriction period, Restricted Share Units that are at
that time unvested shall be forfeited in accordance with the Award Agreement; provided, however, the Committee may (x) provide in any
Restricted Share Unit Award Agreement that restrictions or forfeiture conditions relating to Restricted Share Units will be waived in
whole or in part in the event of terminations resulting from specified causes, and (y) in other cases waive in whole or in part restrictions
or forfeiture conditions relating to Restricted Share Units.

 

	11.	Conditions Upon Issuance of Shares.

 

		(a)	Shares shall not be issued pursuant to the exercise of an Award unless the exercise of such Award and
the issuance and delivery of such Shares pursuant thereto shall comply with all Applicable Laws, and shall be further subject to the approval
of counsel for the Company with respect to such compliance.

 

		(b)	As a condition to the exercise of an Award, the Company may require the person exercising such Award to
represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present
intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required by any Applicable
Laws.

 

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	12.	Adjustments upon Changes in Capitalization.

 

Subject to any required action by the
shareholders of the Company, the number of Shares covered by each outstanding Award, and the number of Shares which have been authorized
for issuance under the Plan but as to which no Awards have yet been granted or which have been returned to the Plan, the exercise or purchase
price of each such outstanding Award, the maximum number of Shares with respect to which Awards may be granted to any Participant in any
fiscal year of the Company, as well as any other terms that the Administrator determines require adjustment shall be proportionately adjusted
for (i) any increase or decrease in the number of issued Ordinary Shares resulting from a share split, reverse share split, share dividend,
combination or reclassification of the Ordinary Shares, or similar transaction affecting the Shares, (ii) any other increase or decrease
in the number of issued Ordinary Shares effected without receipt of consideration by the Company, or (iii) as the Administrator may determine
in its discretion, any other transaction with respect to Ordinary Shares including a corporate merger, consolidation, acquisition of property
or equity, separation (including a spin-off or other distribution of shares or property), reorganization, liquidation (whether partial
or complete) or any similar transaction; provided, however that conversion of any convertible securities of the Company shall not
be deemed to have been “effected without receipt of consideration.” Such adjustment shall be made by the Administrator and
its determination shall be final, binding and conclusive. Except as the Administrator determines, no issuance by the Company of shares
of any class, or securities convertible into shares of any class, shall affect, and no adjustment by reason hereof shall be made with
respect to, the number or price of Shares subject to an Award. In the event of a spin-off transaction, the Administrator may in its discretion
make such adjustments and take such other action as it deems appropriate with respect to outstanding Awards under the Plan, including
but not limited to: (i) adjustments to the number and kind of shares, the exercise or purchase price per share and the vesting periods
of outstanding Awards, (ii) prohibit the exercise of Awards during certain periods of time prior to the consummation of the spin-off transaction,
or (iii) the substitution, exchange or grant of Awards to purchase securities of the Subsidiary; provided that the Administrator
shall not be obligated to make any such adjustments or take any such action hereunder.

 

	13.	Corporate Transactions and Changes in Control.

 

		(a)	Termination of Award to Extent Not Assumed in Corporate Transaction. Effective upon the consummation
of a Corporate Transaction, all outstanding Awards under the Plan shall terminate; provided, however, that to extent any Awards are assumed
in connection with the Corporate Transaction (“Assumed”), such Awards shall not terminate.

 

		(b)	Acceleration of Award Upon Corporate Transaction or Change in Control.

 

		i.	Corporate Transaction. The Administrator may determine, in the event of a Corporate Transaction,
for the portion of each Award that is neither Assumed nor Replaced, such portion of the Award shall automatically become fully vested
and exercisable and be released from any repurchase or forfeiture rights (other than repurchase rights exercisable at Fair Market Value)
for all of the Shares (or other consideration) at the time represented by such portion of the Award, immediately prior to the specified
effective date of such Corporate Transaction, provided that the Participant’s Continuous Service has not terminated prior to such
date.

 

		ii.	Change in Control. The Administrator may determine, in the event of a Change in Control (other
than a Change in Control which also is a Corporate Transaction), each Award which is at the time outstanding under the Plan automatically
shall become fully vested and exercisable and be released from any repurchase or forfeiture rights (other than repurchase rights exercisable
at Fair Market Value), immediately prior to the specified effective date of such Change in Control, for all of the Shares (or other consideration)
at the time represented by such Award, provided that the Participant’s Continuous Service has not terminated prior to such date.

 

    12

    

    

 

	14.	Effective Date and Term of Plan. 

 

The Plan shall become effective on
the date of the Company’s contemplated initial public offering is completed (“IPO”). It shall continue in effect for
a term of ten (10) years unless sooner terminated or unless renewed for another period not to exceed ten (10) years pursuant to shareholder
approval. Subject to Section 19, below, and Applicable Laws, Awards may be granted under the Plan upon its becoming effective.

 

	15.	Amendment, Suspension or Termination of the Plan.

 

		(a)	The Board may at any time amend, suspend or terminate the Plan; provided, however, that no such amendment
shall be made without the approval of the Company’s shareholders to the extent such approval is required by Applicable Laws, or
if such amendment would change any of the provisions of Section 3(a), Section 4(b)(vi) or this Section 15(a).

 

		(b)	No Award may be granted during any suspension of the Plan or after termination of the Plan.

 

		(c)	No suspension or termination of the Plan (including termination of the Plan under Section 14 above) shall
adversely affect any rights under Awards already granted to an Participant.

 

	16.	Reservation of Shares.

 

		(a)	The Company, during the term of the Plan, will at all times reserve and keep available out of its authorized
but unissued Shares, such number of Shares as shall be sufficient to satisfy the requirements of the Plan.

 

		(b)	The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority
is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company
of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained.

 

	17.	No Effect on Terms of Employment/Consulting Relationship. 

 

The Plan shall not confer upon any
Participant any right with respect to the Participant’s Continuous Service, nor shall it interfere in any way with his or her right
or the right of the Company or any Related Entity to terminate the Participant’s Continuous Service at any time, with or without
Cause, and with or without notice. The ability of the Company or any Related Entity to terminate the employment of an Participant who
is employed at will is in no way affected by its determination that the Participant’s Continuous Service has been terminated for
Cause for the purposes of this Plan. For Cause shall have the meaning and conditions set forth under Termination clauses, where applicable,
in each such Participant’s Appointment Letter with the Company.

 

    13

    

    

 

	18.	No Effect on Retirement and Other Benefit Plans. 

 

Except as specifically provided in
a retirement or other benefit plan of the Company or a Related Entity, Awards shall not be deemed compensation for purposes of computing
benefits or contributions under any retirement plan of the Company or a Related Entity, and shall not affect any benefits under any other
benefit plan of any kind or any benefit plan subsequently instituted under which the availability or amount of benefits is related to
level of compensation. The Plan is not a “Retirement Plan” or “Welfare Plan” under the Employee Retirement Income
Security Act of 1974, as amended.

 

	19.	Shareholder and Trading Market Approval. 

 

		(a)	Subject to the Applicable Laws, including but not limited to Nasdaq Rule 5635(c), once this Plan is approved
by the shareholders of the Company, the granting of individual Awards hereunder will not require any further shareholder approvals, unless
such approval is required under Applicable Laws.
	 	 	 

		(b)	If required by the Applicable Laws, no Awards shall be granted unless and until the Company received Trading
Market Approval of such Awards and the Shares underlying such Awards.

 

	20.	Unfunded Obligation. 

 

Participants shall have the status
of general unsecured creditors of the Company. Any amounts payable to Participants pursuant to the Plan shall be unfunded and unsecured
obligations for all purposes. Neither the Company nor any Related Entity shall be required to segregate any monies from its general funds,
or to create any trusts, or establish any special accounts with respect to such obligations. The Company shall retain at all times beneficial
ownership of any investments, including trust investments, which the Company may make to fulfill its payment obligations hereunder. Any
investments or the creation or maintenance of any trust or any Participant account shall not create or constitute a trust or fiduciary
relationship between the Administrator, the Company or any Related Entity and an Participant, or otherwise create any vested or beneficial
interest in any Participant or the Participant’s creditors in any assets of the Company or a Related Entity. The Participants shall
have no claim against the Company or any Related Entity for any changes in the value of any assets that may be invested or reinvested
by the Company with respect to the Plan.

 

	21.	Shareholder Rights

 

Except as otherwise
provided in this Plan an Participant shall have none of the rights of a shareholder of the Company with respect to the Shares covered
by any Award until the Participant becomes the recorded owner of such Shares.

 

	22.	Construction. 

 

Captions and titles contained herein
are for convenience only and shall not affect the meaning or interpretation of any provision of the Plan. Except when otherwise indicated
by the context, the singular shall include the plural and the plural shall include the singular. Use of the term “or” is not
intended to be exclusive, unless the context clearly requires otherwise.

 

	23.	Information to Participants. 

 

Each Participant shall be provided
with such information regarding the Company as the Board or the Committee from time to time deems necessary or appropriate; provided,
however, that each Participant shall at all times be provided with such information as is required to be provided from time to time pursuant
to applicable regulatory requirements.

 

	24.	Governing Law

 

The Plan and any Agreements under the
Plan hereunder shall be administered, interpreted and enforced under the laws of the Cayman Islands without regard to conflicts of laws
thereof.

 

(The remainder of this page is intentionally left
blank)

 

 

14Exhibit
10.1

 

Stock
Purchase Agreement

 

By
and Among

 

BioPower
Operations Corporation

 

And

 

CLARKE
COMPTON

 

DATED
AS OF MARCH 5TH, 2022

 

    	 

     

    

 

TABLE
OF CONTENTS

 

	ARTICLE I.	DEFINITIONS	1
	 	Section
    1.01	Definitions	1
	 	Section 1.02	Interpretive Provisions	2
	ARTICLE II.	PURCHASE AND SALE	3
	 	Section 2.01	Purchase and Sale	3
	 	Section 2.02	Deliverables at Closing	3
	 	Section 2.03	Closing	3
	ARTICLE III.	REPRESENTATIONS AND WARRANTIES
    OF THE COMPANY	3
	 	Section 3.01	Authorization of Transactions	3
	 	Section 3.02	Governmental Approvals; Non-contravention	3
	 	Section 3.03	Brokers	4
	ARTICLE IV.	REPRESENTATIONS AND WARRANTIES
    OF BUYER	4
	 	Section 4.01	Authorization of Transactions	4
	 	Section 4.02	Governmental Approvals; Non-contravention	4
	 	Section 4.03	Investment Representations	5
	 	Section 4.04	Brokers	7
	ARTICLE V.	INDEMNIFICATION	7
	 	Section 5.01	General Indemnification	7
	 	Section 5.02	Procedures for Indemnification	7
	 	Section 5.03	Payment	7
	 	Section 5.04	Effect of Knowledge on Indemnification	8
	ARTICLE VI.	MISCELLANEOUS	8
	 	Section 6.01	Notices	8
	 	Section 6.02	Attorneys’ Fees	8
	 	Section 6.03	Amendments; No Waivers; No
    Third-Party Beneficiaries	8
	 	Section 6.04	Expenses	9
	 	Section 6.05	Further Assurances	9
	 	Section 6.06	Successors and Assigns; Benefit	9
	 	Section 6.07	Governing Law; Etc.	10
	 	Section 6.08	Survival	10
	 	Section 6.10	Severability	11
	 	Section 6.11	Entire Agreement	11
	 	Section 6.12	Specific Performance	11
	 	Section 6.13	Headings	11
	 	Section 6.14	Counterparts	11

 

    	i

     

    

 

STOCK
PURCHASE AGREEMENT

 

This
Stock Purchase Agreement (this “Agreement”) is entered into as of March 05th, 2022 (the “Closing Date”),
by and among BioPower Operations Corporation, a Nevada corporation (the “Company”) and Clarke Compton (“Buyer”).
The Company and Buyer may be collectively referred to herein as the “Parties” and individually as a “Party.”

 

WHEREAS,
the Company desires to issue and sell to the Buyer certain shares of the Company’s common stock, par value $0.0001 per share (the
“Common Stock”), and Buyer desires to buy certain shares of the Common Stock, as set forth herein; and

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

Article
I. DEFINITIONS

 

Section
1.01 Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms, as used herein, have the
following meanings:

 

	 	(a)	“Affiliate”
    means, with respect to a specified Person, any other Person that directly or indirectly Controls, is Controlled by or is under
    common Control with, the specified Person.
	 	 	 
	 	(b)	“Business
    Day” means any day except Saturday, Sunday and any legal holiday or a day on which banking institutions in Nevada generally
    are authorized or required by Law or other governmental actions to close.
	 	 	 
	 	(c)	“Contract”
    means any contract, commitment, understanding or agreement (whether oral or written).
	 	 	 
	 	(d)	“Control”
    means (a) the possession, directly or indirectly, of the power to vote 10% or more of the securities or other equity interests of
    a Person having ordinary voting power, (b) the possession, directly or indirectly, of the power to direct or cause the direction
    of the management and policies of a Person, by contractor otherwise, or (c) being a director, officer, executor, trustee or fiduciary
    (or their equivalents) of a Person or a Person that controls such Person.
	 	 	 
	 	(e)	“Governmental
    Entity” means any federal, state, municipal, local or foreign government and any court, tribunal, arbitral body, administrative
    agency, department, subdivision, entity, commission or other governmental, government appointed, quasi-governmental or regulatory
    authority, reporting entity or agency, domestic, foreign or supranational.
	 	 	 
	 	(f)	“Law”
    means any applicable foreign, federal, state or local law (including common law), statute, treaty, rule, directive, regulation, ordinances
    and similar provisions having the force or effect of law or an Order of any Governmental Entity.
	 	 	 
	 	(g)	“Liabilities”
    means liabilities, obligations or responsibilities of any nature whatsoever, whether direct or indirect, matured or un-matured, fixed
    or unfixed, known or unknown, asserted or un asserted, choate or inchoate, liquidated or unliquidated, secured or unsecured, absolute,
    contingent or otherwise, including any direct or indirect indebtedness, guaranty, endorsement, claim, loss, damage, deficiency, cost
    or expense.

 

    	1

     

    

 

	 	(h)	“Lien”
    means, with respect to any property or asset, any lien, security interest, mortgage, pledge, charge, claim, lease, agreement, right
    of first refusal, option, limitation on transfer or use or assignment or licensing, restrictive easement, charge or any other restriction
    of any kind, and any conditional sale or voting agreement or proxy, and including any restriction on the ownership, use, voting,
    transfer, possession, receipt of income or other exercise of any attributes of ownership, in respect of such property or asset, and
    any agreement to give any of the foregoing.
	 	 	 
	 	(i)	“Losses”
    means any losses, damages, deficiencies, Liabilities, assessments, fines, penalties, judgments, actions, claims, costs, disbursements,
    fees, expenses or settlements of any kind or nature, including legal, accounting and other professional fees and expenses.
	 	 	 
	 	(j)	“Order”
    means any judgment, writ, decree, determination, award, compliance agreement, settlement agreement, injunction, ruling, charge, judicial
    or administrative order, determination or other restriction of any Governmental Entity or arbitrator.
	 	 	 
	 	(k)	“Person”
    means a natural person, a corporation, a limited liability company, a partnership, an association, a trust or any other entity or
    organization, including a government or political subdivision or any agency or instrumentality thereof.
	 	 	 
	 	(l)	“Securities
    Act” means the United States Securities Act of 1933, as amended, and the rules and regulation promulgated thereunder.
	 	 	 
	 	(m)	“Transactions”
    means the purchase and sale of the Shares and the other transactions contemplated under the Transaction Documents.
	 	 	 
	 	(n)	“Transaction
    Documents” means this Agreement and any other agreement, document, certificate or writing delivered or to be delivered in connection
    with this Agreement and any other document related to the Transactions related to the forgoing, including, without limitations, those
    delivered at the Closing.

 

Section
1.02 Interpretive Provisions. Unless the express context otherwise requires, the words “hereof,” “herein,”
and “hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not
to any particular provision of this Agreement; terms defined in the singular shall have a comparable meaning when used in the plural,
and vice versa; the terms “Dollars” and “$” mean United States Dollars, unless otherwise specified herein; references
herein to a specific Section, Subsection or Recital shall refer, respectively, to Sections, Subsections or Recitals of this Agreement;
wherever the word “include,” “includes,” or “including” is used in this Agreement, it shall be deemed
to be followed by the words “without limitation”; references herein to any gender shall include each other gender; references
herein to any Person shall include such Person’s heirs, executors, personal representatives, administrators, successors and assigns;
provided, however, that nothing contained in this Section 1.02 is intended to authorize any assignment or transfer not otherwise permitted
by this Agreement; references herein to a Person in a particular capacity or capacities shall exclude such Person in any other capacity;
references herein to any contract or agreement (including this Agreement) mean such contract or agreement as amended, supplemented or
modified from time to time in accordance with the terms thereof; with respect to the determination of any period of time, the word “from”
means “from and including” and the words “to” and “until” each means “to but excluding”;
references herein to any Law or any license mean such Law or license as amended, modified, codified, reenacted, supplemented or superseded
in whole or in part, and in effect from time to time; and references herein to any Law shall be deemed also to refer to all rules and
regulations promulgated thereunder.

 

    	2

     

    

 

Article
II. PURCHASE AND SALE

 

Section
2.01 Purchase and Sale. Subject to the terms and conditions of this Agreement and as set forth below, at the Closing (as defined
below) the Company shall issue and sell to Buyer 625,000 shares of Common Stock (the “Shares”) for a total purchase price
of (i) USD$250,000 to be paid in FIAT currency (the “Purchase Price” and “Cash Purchase Price”).

 

Section
2.02 Deliverables at Closing. At the Closing (as defined below):

 

	 	(a)	Buyer shall deliver
    to the Company the Cash Purchase Price, via wire transfer to an account as designated by the Company; and
	 	 	 
	 	(b)	the Company shall issue to
    Buyer the Shares via book entry in the books and records of the Company.

 

Section
2.03 Closing. On the terms set forth herein, the closing of the Transactions (the “Closing”) shall take place by conference
call and electronic communication (i.e., emails/pdf) or facsimile, with exchange of original signatures to follow by mail, on the Closing
Date and effective as of 11:59 p.m. Pacific time on the Closing Date.

 

Article
III. REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

The
Company represents and warrants to Buyer that the following representations and warranties contained in this Article III are true and
correct as of the Closing Date:

 

Section
3.01 Authorization of Transactions. The Company is a corporation duly authorized and in good standing in the State of Nevada and
has the requisite power and capacity to execute and deliver the Transaction Documents to which it is a party and to perform its obligations
hereunder and thereunder. The execution, delivery and performance by the Company of the applicable Transaction Documents and the consummation
of the Transactions have been duly and validly authorized by all requisite action on the part of the Company. The Transaction Documents
to which the Company is a party have been duly and validly executed and delivered by The Company. Each Transaction Document to which
the Company is a party constitutes the valid and legally binding obligation of the Company, enforceable against the Company in accordance
with its terms and conditions, except to the extent enforcement thereof may be limited by applicable bankruptcy, insolvency or other
Laws affecting the enforcement of creditors’ rights or by the principles governing the availability of equitable remedies.

 

Section
3.02 Governmental Approvals; Non-contravention.

 

	 	(a)	No
    consent, Order, action or non-action of, or filing, notification, declaration or registration with, any Governmental Entity or Person
    is necessary for the execution, delivery or performance by the Company of this Agreement or any other Transaction Document to which
    the Company is a party.

 

    	3

     

    

 

	 	(b)	The
    execution, delivery and performance by the Company of the Transaction Documents to which the Company is a party, and the consummation
    by the Company of the Transactions, do not (i) violate or conflict with any Law or Order to which the Company or any of the Shares
    may be subject, (ii) constitute a violation or breach of, be in conflict with, constitute or create (with or without due notice or
    lapse of time or both) a default (or give rise to any right of termination, modification, cancellation or acceleration) of any obligation
    under any Contract to which the Company is a party or to which the Company or any of the Shares are subject or by which the Company’s
    properties, assets or rights are bound or (iii) result in the creation or imposition of any Lien upon any of the rights, properties
    or assets of the Company or on any of the Shares.

 

Section
3.03 Brokers. The Company has not engaged, or caused to be incurred any Liability or obligation to, any investment banker, finder,
broker or sales agent or any other Person in connection with the origin, negotiation, execution, delivery or performance of the Transaction
Documents to which it is a party, or the Transactions.

 

Article
IV. REPRESENTATIONS AND WARRANTIES OF BUYER

 

Buyer
represents and warrants to the Company that the following statements contained in this Article IV are true and correct as of the Closing
Date:

 

Section
4.01 Authorization of Transactions. Buyer is a natural person, resident in Canada, and has the requisite power and capacity to
execute and deliver the Transaction Documents to which it is a party and to perform Buyer’s obligations hereunder and thereunder.
The execution, delivery and performance by Buyer of the applicable Transaction Documents and the consummation of the Transactions have
been duly and validly authorized by all requisite action on the part of Buyer. The Transaction Documents to which Buyer is a party have
been duly and validly executed and delivered by Buyer. Each Transaction Document to which Buyer is a party constitutes the valid and
legally binding obligation of Buyer, enforceable against Buyer in accordance with its terms and conditions, except to the extent enforcement
thereof may be limited by applicable bankruptcy, insolvency or other Laws affecting the enforcement of creditors’ rights or by
the principles governing the availability of equitable remedies.

 

Section
4.02 Governmental Approvals; Non-contravention.

 

	 	(a)	No
    consent, Order, action or non-action of, or filing, notification, declaration or registration with, any Governmental Entity is necessary
    for the execution, delivery or performance by Buyer of this Agreement or any other Transaction Document to which Buyer is a party.
	 	 	 
	 	(b)	The execution,
    delivery and performance by Buyer of the Transaction Documents to which Buyer is a party, and the consummation by Buyer of the Transactions,
    do not violate any Laws or Orders to which Buyer is subject.

 

    	4

     

    

 

Section
4.03 Investment Representations.

 

	 	(a)	Buyer
    understands and agrees that the consummation of this Agreement including the delivery of the Shares to Buyer as contemplated hereby
    constitutes the offer and sale of securities under the Securities Act and applicable state statutes and that the Shares are being
    acquired for Buyer’s own account and not with a present view towards the public sale or distribution thereof, except pursuant
    to sales registered or exempted from registration under the Securities Act.
	 	 	 
	 	(b)	Buyer
    hereby represents and warrants to the Company as of the Closing Date that Buyer is not a “US Person” which is defined
    as: (i) Any natural person resident in the United States (as defined below); (ii) any partnership or corporation organized or incorporated
    under the laws of the United States; (ii) any estate of which any executor or administrator is a US Person; (iii) any trust of which
    any trustee is a US Person; (iv) any agency or branch of a foreign entity located in the United States; (v) any non-discretionary
    account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a US
    Person; (vi) any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized,
    incorporated, or (if an individual) resident of the United States; and (vii) Any partnership or corporation if (1) organized or incorporated
    under the laws of any foreign jurisdiction and (2) formed by a US Person principally for the purpose of investing in securities not
    registered under the Securities Act, unless it is organized or incorporated, and owned, by accredited investors (as defined in Rule
    501(a) of Regulation D promulgated under the Securities Act) who are not natural persons, estates or trusts. For purposes of this
    Agreement, “United States” means the United States of America, its territories and possessions, any State of the United
    States, and the District of Columbia.
	 	 	 
	 	(c)	Buyer,
    as of the Closing Date, (i) is not located within the United States, and (ii) is not acquiring the Shares for the benefit of any
    US Person. This Agreement has been executed by Buyer at the location identified on the signature page hereto.
	 	 	 
	 	(d)	Buyer
    has not acquired the Share(s) as a result of, and will not itself engage in, any “directed selling efforts” (as defined
    in Regulation S under the Securities Act) in the United States in respect of the Share(s) which would include any activities undertaken
    for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States for
    the resale of any of the Share(s); provided, however, that the Buyer may sell or otherwise dispose of the Share(s) pursuant to registration
    thereof under the Securities Act and any applicable state and federal securities laws or under an exemption from such registration
    requirements.
	 	 	 
	 	(e)	Buyer
    and Buyer’s advisors, if any, have been furnished with all materials relating to the business, finances and operations of the
    Company and materials relating to the offer and sale of the Shares which have been requested by Buyer or Buyer’s advisors.
    Buyer and Buyer’s advisors, if any, have been afforded the opportunity to ask questions of the Company. Buyer understands that
    Buyer’s investment in the Shares involves a significant degree of risk.

 

    	5

     

    

 

	 	(f)	At
    no time was Buyer presented with or solicited by any leaflet, newspaper or magazine article, radio or television advertisement, or
    any other form of general advertising or solicited or invited to attend a promotional meeting otherwise than in connection and concurrently
    with such communicated offer. Buyer is not purchasing the Shares acquired by Buyer hereunder as a result of any “general solicitation”
    or “general advertising,” as such terms are defined in Regulation D under the Securities Act, which includes, but is
    not limited to, any advertisement, article, notice or other communication regarding the Shares acquired by Buyer hereunder published
    in any newspaper, magazine or similar media or on the internet or broadcast over television, radio or the internet or presented at
    any seminar or any other general solicitation or general advertisement.
	 	 	 
	 	(g)	Buyer
    is acquiring the Shares for Buyer’s own account as principal, not as a nominee or agent, for investment purposes only, and
    not with a view to, or for, resale, distribution or fractionalization thereof in whole or in part and no other person has a direct
    or indirect beneficial interest in the Shares. Further, Buyer does not have any contract, undertaking, agreement or arrangement with
    any person to sell, transfer or grant participations to such person or to any third person, with respect to the Shares.
	 	 	 
	 	(h)	Buyer
    understands that the sale or re-sale of the Shares has not been and is not being registered under the Securities Act or any applicable
    state securities laws, and Buyer will not resell any Shares unless (1) Buyer sells the Shares in accordance with the provisions of
    Regulation S (Rule 901 through 905 and Preliminary Notes thereto) under the Securities Act, pursuant to a registration under the
    Securities Act, or pursuant to an available exemption from registration; and agrees not to engage in hedging transactions with regard
    to such securities unless in compliance with the Securities Act and (2) Buyer shall have delivered to the Company, at the cost of
    Buyer, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in comparable transactions
    to the effect that the Shares to be sold or transferred may be sold or transferred pursuant to an exemption from such registration,
    which opinion shall be accepted by the Company. Buyer acknowledges that neither the Company nor any other person is under any obligation
    to register such Shares under the Securities Act or any state securities laws or to comply with the terms and conditions of any exemption
    thereunder (in each case).
	 	 	 
	 	(i)	Buyer,
    either alone or together with Buyer’s representatives, has such knowledge, sophistication and experience in business and financial
    matters so as to be capable of evaluating the merits and risks of the prospective investment in the Shares, and has so evaluated
    the merits and risks of such investment. Buyer is able to bear the economic risk of an investment in the Shares and, at the present
    time, is able to afford a complete loss of such investment.
	 	 	 
	 	(j)	Buyer
    understands that no United States federal or state agency or any other governmental or state agency has passed on or made recommendations
    or endorsement of the Shares or the suitability of the investment in the Shares nor have such authorities passed upon or endorsed
    the merits of the transactions set forth herein.
	 	 	 
	 	(k)	Buyer
    understands that no material public market now exists for the Shares, and that the Company has made no assurances that a material
    public market will ever exist for the Shares.

 

    	6

     

    

 

	 	(l)	Any
    legend required by the securities laws of any state to the extent such laws are applicable to the Shares represented by the certificate
    so legended shall be included on any certificates representing the Shares. Buyer also understands that the Shares may bear the following
    or a substantially similar legend:

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR REGISTERED OR QUALIFIED
UNDER ANY STATE SECURITIES LAWS. SUCH SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, DELIVERED AFTER SALE, TRANSFERRED, PLEDGED, OR HYPOTHECATED
UNLESS QUALIFIED AND REGISTERED UNDER APPLICABLE STATE AND FEDERAL SECURITIES LAWS OR UNLESS, IN THE OPINION OF COUNSEL REASONABLY SATISFACTORY
TO THE COMPANY, SUCH QUALIFICATION AND REGISTRATION ARE NOT REQUIRED. ANY TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE
IS FURTHER SUBJECT TO OTHER RESTRICTIONS, TERMS AND CONDITIONS WHICH ARE NOT SET FORTH HEREIN.

 

Section
4.04 Brokers. Buyer has not engaged any investment banker, finder, broker or sales agent or any other Person in connection with
the origin, negotiation, execution, delivery or performance of any Transaction Document to which it is a party, or the Transactions.

 

Article
V. INDEMNIFICATION

 

Section
5.01 General Indemnification. Each Party (the “Indemnifying Party”) agrees to indemnify, defend and hold harmless
the other Party and such other Party’s Affiliates and each of their respective directors, officers, managers, partners, employees,
agents, equity holders, successors and assigns (each, an “Indemnified Party”), from and against any and all Losses incurred
or suffered by any Indemnified Party arising out of, based upon or resulting from any breach of any representation or warranty of the
Indemnifying Party herein or breach by the Indemnifying Party of, or any failure the Indemnifying Party to perform, any of the covenants,
agreements or obligations contained in or made pursuant to this Agreement of the other Transaction Documents by the Indemnifying Party.

 

Section
5.02 Procedures for Indemnification. In the event that an Indemnified Party shall incur or suffer any Losses in respect of which
indemnification may be sought under this Article V against the Indemnifying Party, the Indemnified Party shall assert a claim for indemnification
by providing a written notice (the “Notice of Loss”) to the Indemnifying Party stating the nature and basis of such indemnification.
The Notice of Loss shall be provided to the Indemnifying Party as soon as practicable after the Indemnified Party becomes aware that
it has incurred or suffered a Loss.

 

Section
5.03 Payment. Upon a determination of liability under this Article V the Indemnifying Party shall pay or cause to be paid to the
Indemnified Party the amount so determined within five (5) Business Days after the date of such determination. If there should be a dispute
as to the amount or manner of determination of any indemnity obligation owed under this Agreement or the other Transaction Documents,
the Indemnifying Party shall nevertheless pay when due such portion, if any, of the obligation that is not subject to dispute. Upon the
payment in full of any amounts due under this Article V with respect to any claim, the Indemnifying Party shall be subrogated to the
rights of the Indemnified Party against any Person with respect to the subject matter of such claim.

 

    	7

     

    

 

Section
5.04 Effect of Knowledge on Indemnification. The right to indemnification, reimbursement or other remedy based upon any representations,
warranties, covenants and obligations set forth in this Agreement or the other Transaction Documents shall not be affected by any investigation
conducted with respect to, or any knowledge acquired (or capable of being acquired) at any time, whether before or after the execution
and delivery of this Agreement or the other Transaction Documents, with respect to the accuracy or inaccuracy of or compliance with any
such representation, warranty, covenant or obligation. The waiver of any condition based upon the accuracy of any representation or warranty,
or on the performance of or compliance with any covenant or obligation, shall not affect the right to indemnification, reimbursement
or other remedy based upon such representations, warranties, covenants or obligations.

 

Article
VI. MISCELLANEOUS

 

Section
6.01 Notices.

 

	 	(a)	Any
    notice or other communications required or permitted hereunder shall be in writing and shall be sufficiently given if personally
    delivered to it or sent by email, overnight courier or registered mail or certified mail, postage prepaid, addressed as follows:
	 	 	 
	 	 	If to the Company, to:

 

BioPower
Operations Corporation Attn: Troy MacDonald

20801
Biscayne Blvd., Suite 403

Aventura,
FL 33180

Email:
t.macdonald@hyfi-corp.com

 

If
to Buyer, to the address as set forth on the signature pages hereto.

 

	 	(b)	Any
    Party may change its address for notices hereunder upon notice to each other Party in the manner for giving notices hereunder.
	 	 	 
	 	(c)	Any notice
    hereunder shall be deemed to have been given (i) upon receipt, if personally delivered, (ii) on the day after dispatch, if sent by
    overnight courier, (iii) upon dispatch, if transmitted by email with return receipt requested and received and (iv) three (3) days
    after mailing, if sent by registered or certified mail.

 

Section
6.02 Attorneys’ Fees. In the event that any Party institutes any action or suit to enforce this Agreement or the other Transaction
Documents or to secure relief from any default hereunder or breach hereof, the prevailing Party shall be reimbursed by the losing Party
for all costs, including reasonable attorney’s fees, incurred in connection therewith and in enforcing or collecting any judgment
rendered therein.

 

Section
6.03 Amendments; No Waivers; No Third-Party Beneficiaries.

 

	 	(a)	This
    Agreement may be amended, modified, superseded, terminated or cancelled, and any of the terms, covenants, representations, warranties
    or conditions hereof may be waived, only by a written instrument executed by all of the Parties.

 

    	8

     

    

 

	 	(b)	Every
    right and remedy provided herein shall be cumulative with every other right and remedy, whether conferred herein, at law, or in equity,
    and may be enforced concurrently herewith, and no waiver by any Party of the performance of any obligation by another Party shall
    be construed as a waiver of the same or any other default then, theretofore, or thereafter occurring or existing.
	 	 	 
	 	(c)	Neither
    any failure or delay in exercising any right or remedy hereunder or in requiring satisfaction of any condition herein nor any course
    of dealing shall constitute a waiver of or prevent any Party from enforcing any right or remedy or from requiring satisfaction of
    any condition. No notice to or demand on a Party waives or otherwise affects any obligation of that Party or impairs any right of
    the Party giving such notice or making such demand, including any right to take any action without notice or demand not otherwise
    required by this Agreement or the other Transaction Documents. No exercise of any right or remedy with respect to a breach of this
    Agreement or the other Transaction Documents shall preclude exercise of any other right or remedy, as appropriate to make the aggrieved
    Party whole with respect to such breach, or subsequent exercise of any right or remedy with respect to any other breach.
	 	 	 
	 	(d)	Notwithstanding
    anything else contained herein, no Party shall seek, nor shall any Party be liable for, consequential, punitive or exemplary damages,
    under any tort, contract, equity, or other legal theory, with respect to any breach (or alleged breach) of this Agreement or the
    other Transaction Documents or any provision hereof or any matter otherwise relating hereto or arising in connection herewith.

 

Section
6.04 Expenses. Unless otherwise contemplated or stipulated by this Agreement, all costs and expenses incurred in connection with
this Agreement or the other Transaction Documents shall be paid by the Party incurring such cost or expense.

 

Section
6.05 Further Assurances. At and following the Closing, each Party shall execute and deliver such documents and other papers and
take such further action as may be reasonably required to carry out the provisions of the Transaction Documents.

 

Section
6.06 Successors and Assigns; Benefit. This Agreement shall be binding upon and shall inure to the benefit of the Parties and their
respective successors and permitted assigns. No Party shall have any power or any right to assign or transfer, in whole or in part, this
Agreement, or any of its rights or any of its obligations hereunder, including, without limitation, any right to pursue any claim for
damages pursuant to this Agreement or the transactions contemplated herein, or to pursue any claim for any breach or default of this
Agreement, or any right arising from the purported assignor’s due performance of its obligations hereunder, without the prior written
consent of the other Party and any such purported assignment in contravention of the provisions herein shall be null and void and of
no force or effect. Nothing in this Agreement, expressed or implied, shall confer on any Person other than the Parties, and their respective
successors and assigns, any rights, remedies, obligations, or Liabilities under or by reason of this Agreement.

 

    	9

     

    

 

Section
6.07 Governing Law; Etc.

 

	 	(a)	This
    Agreement and the other Transaction Documents, and all matters based upon, arising out of or relating in any way to the Transactions
    or the Transaction Documents, including all disputes, claims or causes of action arising out of or relating to the Transactions or
    the Transaction Documents as well as the interpretation, construction, performance and enforcement of the Transaction Documents,
    shall be governed by the laws of the United States and the State of Nevada, without regard to any jurisdiction’s conflict-of-laws
    principles.
	 	 	 
	 	(b)	ANY
    LEGAL SUIT, ACTION OR PROCEEDING ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS OR THE CONTEMPLATED
    TRANSACTIONS SHALL BE INSTITUTED SOLELY IN THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA OR THE COURTS OF THE STATE OF, AND
    EACH PARTY IRREVOCABLY SUBMITS TO THE PERSONAL JURISDICTION OF SUCH COURTS IN ANY SUCH SUIT, ACTION OR PROCEEDING. THE PARTIES IRREVOCABLY
    AND UNCONDITIONALLY WAIVE ANY OBJECTION TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR ANY PROCEEDING IN SUCH COURTS AND IRREVOCABLY
    WAIVE AND AGREE NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN
    BROUGHT IN AN INCONVENIENT FORUM.
	 	 	 
	 	(c)	EACH PARTY
    HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING
    DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS, THE PERFORMANCE THEREOF OR THE FINANCINGS
    CONTEMPLATED THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE,
    AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION,
    SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS
    AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section 6.07(c).
	 	 	 
	 	(d)	Each of
    the Parties acknowledge that each has been represented in connection with the signing of this waiver by independent legal counsel
    selected by the respective Party and that such Party has discussed the legal consequences and import of this waiver with legal counsel.
    Each of the Parties further acknowledge that each has read and understands the meaning of this waiver and grants this waiver knowingly,
    voluntarily, without duress and only after consideration of the consequences of this waiver with legal counsel.

 

Section
6.08 Survival. The representations and warranties in this Agreement shall survive the Closing for a period of 12 months from the
Closing Date, and no claim for indemnification may be made after such time. All covenants and agreements in this Agreement will survive
until fully performed; provided, however, that, nothing herein shall prevent a Party from making any claim hereunder, or relieve any
other Party from any liability hereunder, after such time for any breach thereof.

 

    	10

     

    

 

Section
6.10 Severability. If any provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or
public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the
economic or legal substance of the Transactions is not affected in any manner adverse to any Party. Upon such determination that any
provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as
to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that the Transactions are fulfilled
to the extent possible.

 

Section
6.11 Entire Agreement. This Agreement and the other Transaction Documents constitute the entire agreement between the Parties
with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, both oral and written, between
the Parties with respect to the subject matter hereof and thereof.

 

Section
6.12 Specific Performance. Each Party agrees that irreparable damage would occur if any provision of this Agreement and the other
Transaction Documents were not performed in accordance with the terms hereof and that each Party shall be entitled to seek specific performance
of the terms hereof and thereof in addition to any other remedy at law or in equity.

 

Section
6.13 Headings. The table of contents and headings contained in this Agreement are for reference purposes only and will not affect
in any way the meaning or interpretation of this Agreement.

 

Section
6.14 Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all
of which taken together shall be but a single instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf
or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and
any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

[Signature
page follows]

 

    	11

     

    

 

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the Closing Date.

 

	 	BioPower Operations
    Corporation
	 	 	 
	 	By:	/s/
Troy MacDonald
	 	Name: 	Troy MacDonald
	 	Title:	CEO
	 	 	 
	 	Clarke Compton
	 	 	 
	 	By:	/s/
Clarke Compton
	 	Name: 	Clarke Compton

 

	 	Address
    for Notices:
	 	 
	 	Clarke
    Compton
	 	3215
    Cameron Heights Way NW
	 	Edmonton,
    AB
	 	T6M0S6
	 	Canada
	 	Email:

 

	 	Executed at:	Edmonton
	 	 	(location outside the US.)

 

    	12

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