Document:

Colombia
Energy Resources, Inc.

 

2010
Equity Incentive Plan

 

Adopted and Effective as of May 12, 2010,
as Amended August 31, 2011, and January 31, 2012

 

    	 

    	 

    

 

COLOMBIA ENERGY RESOURCES, Inc.

2010 Equity Incentive Plan

 

1.           Purpose
of the Plan.

 

This Colombia Energy
Resources, Inc. 2010 Equity Incentive Plan, as amended, is intended to promote the interests of the Company and its shareholders
by providing the Company’s officers, directors, employees and consultants, on whose judgment, initiative and efforts the
successful conduct of the business of the Company depends, and who are responsible for the management, growth and protection of
the business, with appropriate incentives and rewards to encourage them to continue in the employ of the Company and to maximize
their performance.

 

2.           Definitions.

 

As used in the Plan,
the following definitions apply to the terms indicated below:

 

(a)          “Board”
shall mean the Board of Directors of the Company.

 

(b)          “Cause,”
when used in connection with the termination of a Participant’s employment, shall mean (i) to the extent that there is
an employment agreement governing the relationship between the Participant and the Company which contains a definition of
“cause”, cause shall consist of those acts or omissions which would constitute cause under such agreement,
otherwise cause shall mean the termination of the Participant’s employment on account of: (ii) the willful and
continued failure by the Participant substantially to perform his or her duties and obligations to the Company (other than
any such failure resulting from incapacity due to physical or mental illness), (iii) the willful violation by the Participant
of (A) any federal or state law or (B) any rule of the Company, which violation would materially reflect on the
Participant’s character, competence or integrity, (iv) a breach by a Participant of the Participant’s duty of
loyalty to the Company such as Participant’s solicitation of customers or employees of the Company on behalf of any
other Person, (v) the Participant’s unauthorized removal from the Company’s premises of any document (in any
medium or form) relating to the Company, its business or its customers, provided, however, that no such removal shall
be deemed “unauthorized” if it is in furtherance of an individual’s duties and obligations to the Company
and such removal is a common practice at the Company, (vi) the Participant’s unauthorized disclosure to any Person of
any confidential information regarding the Company, or (vii) the willful engaging by the Participant in any other
misconduct which is materially injurious to the Company. For purposes of this Section 2(b), no act, or failure to act, on a
Participant’s part shall be considered “willful” unless done, or omitted to be done, by the Participant in
bad faith and without reasonable belief that the action or omission was in the best interests of the Company. Any rights the
Company may have hereunder in respect of the events giving rise to Cause shall be in addition to the rights the Company may
have under any other agreement with the Participant or at law or in equity. If, subsequent to the termination of a
Participant’s employment without Cause, it is determined by the Board of Directors that the Participant’s
employment could have been terminated for Cause, such Participant’s employment shall, at the election of the Committee
in its sole discretion, be deemed to have been terminated for Cause.

 

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

 

(d)          “Committee”
shall mean the Compensation Committee of the Board; provided, however, that if the Company is subject to the Exchange Act,
the Compensation Committee shall not take any action under the Plan unless it is at all times composed solely of not less than
two “Non-Employee Directors” within the meaning of Rule 16b-3, as promulgated under the Securities Exchange Act of
1934, as amended. In the event the Board has not established a Compensation Committee or that the Compensation Committee is not
composed of at least two Non-Employee Directors when the Company is subject to the Exchange Act, or, in the event the Committee
is unable to act, the Board shall take any and all actions required or permitted to be taken by the Committee under the Plan and
shall serve as the Committee.

 

(e)          “Company”
shall mean Colombia Energy Resources, Inc., a Delaware corporation.

 

(f)          “Company
Stock” shall mean the common stock, par value $0.001 per share, of the Company.

 

(g)          “Disability”
shall mean any physical or mental condition as a result of which a Participant is disabled within the meaning of Section 422(c)(6)
of the Code.

 

(h)          “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended.

 

(i)          “Fair
Market Value” with respect to a share of Company Stock on any relevant date shall be determined in accordance with the following
provisions:

 

(1)         If
Company Stock is publicly traded, “Fair Market Value” shall be determined as of the last business day for which the
prices or quotes discussed in this sentence are available prior to such date and shall mean (i) the closing selling price per share
on that date of the Company Stock on the principal national securities exchange on which the Company Stock is traded, if the Company
Stock is then traded on a national securities exchange; or (ii) the closing selling price per share on that date of the Company
Stock on the NASDAQ National Market List, if the Company Stock is not then traded on a national securities exchange; or (iii) the
closing bid price per share last quoted on that date by an established quotation service for over-the-counter securities, if the
Company Stock is not reported on the NASDAQ National Market List.

 

(2)         If
Company Stock is not publicly traded, “Fair Market Value” shall be determined by the Board of Directors in its good
faith best judgment or by an independent appraisal that meets the requirements of Section 401(a)(28)(C) of the Code and the regulations
thereunder as of a date that is no more than twelve months before such date.

 

(j)            “Incentive
Award” shall mean an Option, a SAR, a Restricted Stock, a Stock Bonus Award, or a Restricted Stock Unit granted pursuant
to the terms of the Plan.

 

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(k)            “Incentive
Stock Option” shall mean an Option that is an “incentive stock option” within the meaning of Section 422 of the
Code and that is identified as an Incentive Stock Option in the agreement by which it is evidenced.

 

(l)            “Issue
Date” shall mean the date established by the Committee or the Board on which certificates representing shares of Restricted
Stock shall be issued by the Company pursuant to the terms of Section 8(d)

hereof.

 

(m)         “Non-Qualified
Stock Option” shall mean an Option that is not an Incentive Stock Option.

 

(n)         “Option”
shall mean an option to purchase shares of Company Stock granted pursuant to Section 6

hereof. Each Option, or portion thereof, shall be identified as either an Incentive Stock Option or a
Non-Qualified Stock Option in the agreement by which such Option is evidenced.

 

(o)         “Participant”
shall mean an employee, officer or director of the Company or any subsidiary of the Company or a consultant to the Company or any
subsidiary of the Company selected to participate in the Plan and to whom an Incentive Award is granted pursuant to the Plan, and,
upon his or her death, that Person’s successors, heirs, executors and administrators, as the case may be.

 

(p)         “Person”
shall mean a “person,” such as term is used in Sections 13(d) and 14(d) of the Exchange Act.

 

(q)         “Plan”
shall mean this Colombia Energy Resources, Inc. 2010 Equity Incentive Plan, as it may be amended from time to time.

 

(r)         “Restricted
Stock” shall mean a share of Company Stock that is granted pursuant to the terms of Section 8

hereof and that is subject to the restrictions set forth in Section 8(c)

hereof for as long as such restrictions continue to apply to such share.

 

(s)         “Restricted
Stock Unit” shall mean a grant of a restricted stock unit payable in shares of Company Stock pursuant to Section 10

hereof.

 

(t)         “Retirement”
shall mean a Participant’s termination of employment (other than by reason of death or Disability and other than a termination
that is (or is deemed to have been) for Cause) on or after the later of (i) the date the Participant attains age 65 and (ii) the
date the Participant has completed ten years of service with the Company.

 

(u)          “Securities
Act” shall mean the Securities Act of 1933, as amended.

 

(v)         “SAR”
shall mean a stock appreciation right granted pursuant to Section 7

hereof.

 

(w)        “Stock
Bonus” shall mean a grant of a bonus payable in shares of Company Stock pursuant to Section 9

hereof.

 

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(x)          “Vesting
Date” shall mean the date and/or dates established by the Board on which an Incentive Award may vest. In the absence of provisions
in an individual grant agreement to the contrary, Options shall vest ratably over a four (4) year period, with twenty-five percent
(25%) vesting on the first anniversary of the grant date (the “initial vesting date”) and twenty-five percent (25%)
vesting on each of the proceeding three (3) anniversaries of the initial vesting date.

 

3.           Stock
Subject to the Plan.

 

(a)          Plan
Awards.

 

Under the Plan, the
Board may, in its sole and absolute discretion, grant any or all of the following types of Incentive Awards to a Participant: an
Option, a SAR, a Restricted Stock, a Stock Bonus Award, or a Restricted Stock Unit.

 

(b)          Individual
Awards.

 

Incentive Awards granted
under the Plan may be made up entirely of one type of Incentive Award or any combination of types of Incentive Awards available
under the Plan, in the Board’s sole discretion.

 

(c)          Aggregate Plan Share Reserve.

 

The total number of
shares of Company Stock available for grants of Incentive Awards under the Plan shall be 6,133,334, subject
to adjustment in accordance with Section 11 of the Plan. These shares may be either authorized but unissued shares,
newly-issued shares or reacquired shares of Company Stock. If an Incentive Award or portion thereof shall expire or terminate
for any reason without having been exercised in full, the unexercised shares covered by such Incentive Award shall be
available for future grants of Incentive Awards under the Plan.

 

4.            Administration
of the Plan.

 

The Plan shall be administered
by the Committee; provided, however, that the Board alone shall have the authority to, from time to time, designate the
employees, officers and directors of the Company or any subsidiary of the Company or consultants to the Company or any subsidiary
of the Company who shall be granted Incentive Awards and the amount and type of such Incentive Awards.

 

Otherwise, the Committee
shall have the full authority and discretion to administer the Plan, including authority to interpret and construe any provision
of the Plan and the terms of any Incentive Award issued under the Plan. The Committee may also adopt any rules and regulations
for administering the Plan as it may deem necessary or appropriate. Decisions of the Committee shall be final and binding on all
parties.

 

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The Committee may,
in its absolute discretion, without amendment to the Plan, (i) accelerate the date on which any Option or SAR granted under the
Plan becomes exercisable or otherwise adjust any of the terms of such Option or SAR (except that no such adjustment shall, without
the consent of a Participant, reduce the Participant’s rights under any previously granted and outstanding Incentive Award),
(ii) accelerate the Vesting Date or Issue Date of any share of Restricted Stock issued under the Plan, or waive any condition imposed
thereunder, (iii) accelerate the Vesting Date of any Restricted Stock Unit granted under the Plan, or waive any condition imposed
thereunder and (iv) otherwise adjust or waive any condition imposed on any Incentive Award made hereunder; provided, however,
that the Committee shall not take any action which would cause any Incentive Award to become subject to taxation under Section
409A of the Code.

 

In addition, the Board
may, in its absolute discretion and without amendment to the Plan, grant Incentive Awards of any type to Participants on the condition
that such Participants surrender to the Committee for cancellation such other Incentive Awards of the same or any other type (including,
without limitation, Incentive Awards with higher exercise prices or values) as the Committee specifies; provided, however,
that (i) the number of any such replacement Incentive Awards does not exceed the number of cancelled Incentive Awards to which
they relate, (ii) the exercise price (if any) of such replacement Incentive Awards is different than the exercise price of the
cancelled Incentive Awards to which they relate, and (iii) such replacement Incentive Awards are granted in compliance with the
terms of the Plan and are not, and would not cause any other Incentive Award to become, subject to taxation under Section 409A
of the Code. Notwithstanding Section 3(c) herein, prior to the surrender of such other Incentive Awards, Incentive Awards granted
pursuant to the preceding sentence of this Section 4 shall not count against the limit set forth in such Section 3(c).

 

Whether an authorized
leave of absence, or absence in military or government service, shall constitute termination of employment shall be determined
by the Committee, subject to applicable laws.

 

No member of the Committee
shall be liable for any action, omission or determination relating to the Plan, and the Company (and any affiliate that may adopt
the Plan), jointly and severally, shall indemnify and hold harmless each member of the Committee and each other director or employee
of the Company (or affiliate) to whom any duty or power relating to the administration or interpretation of the Plan has been delegated
against any cost or expense (including counsel fees) or liability (including any sum paid in settlement of a claim with the approval
of the Committee) arising out of any action, omission or determination unless such action, omission or determination was taken
or made by such member, director or employee in bad faith and without reasonable belief that it was in the best interests of the
Company and its affiliates, as the case may be.

 

5.           Eligibility.

 

The Persons who shall
be eligible to receive Incentive Awards pursuant to the Plan shall be those employees, officers and directors of the Company or
any subsidiary of the Company or consultants to the Company or any subsidiary of the Company who are responsible for the management,
growth and protection of the business of the Company; provided, however, that only employees of the Company or any subsidiary
of the Company shall be eligible to receive Incentive Awards consisting of Incentive Stock Options.

 

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6.           Stock
Option Awards.

 

The Board may grant
Options pursuant to the Plan. Such Options shall be evidenced by agreements in such form as the Committee shall from time to time
approve. Options shall comply with and be subject to the following terms and conditions:

 

(a)           Identification of Options.

 

All Options granted
under the Plan shall be clearly identified in the agreement evidencing such Options as either Incentive Stock Options or as Non-Qualified
Stock Options or a combination of both.

 

(b)           Exercise Price.

 

The exercise price
of any Option granted under the Plan shall be such price as the Board shall determine; provided, however, that such price
shall be not less than 100% of the Fair Market Value of a share of Company Stock on the date on which such Option is granted; and,
provided, further, that such price may not be less than the minimum price required by law.

 

(c)           Term and Exercise of Options.

 

(i)          Each
Option shall be exercisable on such date or dates, during such period, and for such number of shares of Company Stock as shall
be determined by the Board on the day on which such Option is granted and set forth in the Option agreement with respect to such
Option; provided, however, that no Option shall be exercisable after the expiration of ten years from the date such Option
was granted; and, provided, further, that each Option shall be subject to earlier termination, expiration or cancellation
as provided in the Plan.

 

(ii)         Each
Option shall be exercisable in whole or in part. The partial exercise of an Option shall not cause the expiration, termination
or cancellation of the remaining portion thereof. Upon the partial exercise of an Option, the agreement evidencing such Option,
marked with such notations as the Committee may deem appropriate to evidence such partial exercise, shall be returned to the Participant
exercising such Option together with the delivery of the certificates described in Section 6(e)

hereof.

 

(iii)        An
Option shall be exercised by delivering a written notice to the Company’s principal office to the attention of its Secretary.
Such notice shall specify the number of shares of Company Stock with respect to which the Option is being exercised, shall be signed
by the Participant, and shall be accompanied by the agreement (or agreements) evidencing the Option and payment in full of the
applicable exercise price for shares of Company Stock purchased in any combination of the forms specified below:

 

(A)         in
cash, by certified check, bank cashier’s check or wire transfer;

 

(B)         subject
to the approval of the Committee, in shares of Company Stock owned by the Participant and valued at their Fair Market Value on
the date of such exercise;

 

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(C)         subject
to the approval of the Committee, pursuant to a “cashless exercise” pursuant to procedures adopted by the Committee
whereby the Participant, by a properly written notice, directs (a) an immediate market sale or margin loan respecting all or a
part of the shares of Company Stock to which the Participant is entitled upon exercise pursuant to an extension of credit by the
Company to the Participant of the exercise price, (b) the delivery of the shares of the Company Stock from the Company directly
to the brokerage firm, and (c) the delivery of the exercise price from the sale or margin loan proceeds from the brokerage firm
directly to the Company; or

 

(D)         such
other methods as the Committee may approve, from time to time.

 

Any payments in shares of Company Stock
shall be effected by the delivery of such shares to the Secretary of the Company, duly endorsed in blank or accompanied by stock
powers duly executed in blank, together with any other documents and evidences as the Secretary of the Company shall require from
time to time

 

(d)          Nonassignability.

 

During the lifetime
of a Participant, each Option granted to him or her shall be exercisable only by him or her. No Option shall be assignable or transferable
otherwise than by will or by the laws of descent and distribution.

 

(e)           Issuance of Certificates.

 

Certificates for
shares of Company Stock purchased upon the exercise of an Option shall be issued in the name of the Participant or his or her beneficiary,
as the case may be, and delivered to the Participant or his or her beneficiary, as the case may be, as soon as practicable following
the date on which the Option is exercised.

 

(f)           Limitations on Grant of Incentive
Stock Options.

 

(i)          The
aggregate Fair Market Value of shares of Company Stock with respect to which Incentive Stock Options granted hereunder are exercisable
for the first time by a Participant during any calendar year under the Plan and any other stock option plan of the Company (or
any “subsidiary corporation” of the Company within the meaning of Section 424 of the Code) shall not exceed $100,000.
Such Fair Market Value shall be determined as of the date on which each such Incentive Stock Option is granted. In the event that
the aggregate Fair Market Value of shares of Company Stock with respect to such Incentive Stock Options exceeds $100,000, then
Incentive Stock Options granted hereunder to such Participant shall, to the extent and in the order in which they were granted,
automatically be deemed to be Non-Qualified Stock Options, but all other terms and provisions of such Incentive Stock Options shall
remain unchanged.

 

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(ii)         No
Incentive Stock Option may be granted to an individual if, at the time of the proposed grant, such individual owns stock possessing
more than 10% of the total combined voting power of all classes of stock of the Company or any of its "subsidiary corporations"
(within the meaning of Section 424 of the Code), unless (I) the exercise price of such Incentive Stock Option is at least 110%
of the Fair Market Value of a share of Company Stock at the time such Incentive Stock Option is granted and (II) such Incentive
Stock Option is not exercisable after the expiration of five years from the date such Incentive Stock Option is granted.

 

(iii)        No
Incentive Stock Option may be granted to an individual if, at the time of the proposed grant, such individual is not an employee
of the Company.

 

(g)          Effect of
Termination of Employment.

 

(i)          In
the event the employment or engagement of a Participant with the Company shall terminate (as determined by the Committee in its
sole discretion) for any reason other than Retirement, Disability, death or for Cause, (A) Options granted to such Participant,
to the extent that they were exercisable at the time of such termination, shall remain exercisable until 90 days after the date
of such termination, on which date they shall expire, and (B) Options granted to such Participant, to the extent that they were
not exercisable at the time of such termination, shall expire at the close of business on the date of such termination; provided,
however, that no Option shall be exercisable after the expiration of its term.

 

(ii)         In
the event that the employment or engagement of a Participant with the Company shall terminate on account of the Retirement, Disability
or death of the Participant, (A) Options granted to such Participant, to the extent that they were exercisable at the time of such
termination, shall remain exercisable until the expiration of their term and (B) Options granted to such Participant, to the extent
that they were not exercisable at the time of such termination, shall expire at the close of business on the date of such termination.
The effect of exercising any Incentive Stock Option on a day that is more than 90 days after the date of such termination (or,
in the case of a termination of employment on account of Disability, on a day that is more than one year after the date of such
termination) will be to cause such Incentive Stock Option to be treated as a Non-Qualified Stock Option.

 

(iii)        In
the event of the termination of a Participant’s employment for Cause, all outstanding Options (vested or unvested) granted
to such Participant shall automatically expire at the commencement of business as of the date of such termination.

 

7.           SARs.

 

The Board may grant
SARs pursuant to the Plan, which SARs shall be evidenced by agreements in such form as the Committee shall from time to time approve.
SARs shall comply with and be subject to the following terms and conditions:

 

(a)          Exercise Price.

 

The exercise price
of any SAR granted under the Plan shall be such price as the Board shall determine; provided, however, that such price shall
be not less than 100% of the Fair Market Value of a share of Company Stock on the date on which such SAR is granted; and, provided,
further, that such price may not be less than the minimum price required by law.

 

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(b)          Benefit Upon Exercise.

 

(i)          The
exercise of a SAR with respect to any number of shares of Company Stock shall entitle a Participant to a cash payment, for each
such share, equal to the excess of (A) the Fair Market Value of a share of Company Stock on the exercise date over (B) the exercise
price of the SAR (subject to applicable withholding payment requirements).

 

(ii)         All
payments under this Section 7(b)

shall be made as soon as practicable, but in no event later than five business days, after the date of
the exercise.

 

(c)          Term and
Exercise of SARs.

 

(i)          Each
SAR shall be exercisable on such date or dates, during such period, and for such number of shares of Company Stock as shall be
determined by the Board and set forth in the SAR agreement with respect to such SAR; provided, however, that no SAR shall
be exercisable after the expiration of ten years from the date such SAR was granted; and provided, further, that each SAR
shall be subject to earlier termination, expiration or cancellation as provided in the Plan.

 

(ii)         Each
SAR may be exercised in whole or in part. The partial exercise of a SAR shall not cause the expiration, termination or cancellation
of the remaining portion thereof. Upon the partial exercise of a SAR, the agreement evidencing such SAR, marked with such notations
as the Committee may deem appropriate to evidence such partial exercise, shall be returned to the Participant exercising such SAR
together with the payment described in Section 7(b)

or 7(b)(ii)

hereof.

 

(iii)        A
SAR shall be exercised by delivering written notice to the Company’s principal office, to the attention of its Secretary.
Such notice shall be accompanied by the applicable agreement (or agreements) evidencing the SAR, shall specify the number of shares
of Company Stock with respect to which the SAR is being exercised, and shall be signed by the Participant. The date upon which
such written notice is received by the Company shall be the exercise date for the SAR.

 

(iv)        During
the lifetime of a Participant, each SAR granted to him or her shall be exercisable only by him or her. No SAR shall be assignable
or transferable otherwise than by will or by the laws of descent and distribution.

 

(d)          Termination
of Employment.

 

(i)          In
the event that the employment of a Participant with the Company shall terminate (as determined by the Committee in its sole discretion)
for any reason other than Retirement, Disability, death or for Cause, (A) SARs granted to such Participant, to the extent that
they were exercisable at the time of such termination, shall remain exercisable until the 30th day after such termination, on which
date they shall expire and (B) SARs granted to such Participant, to the extent that they were not exercisable at the time of such
termination, shall expire at the close of business on the date of such termination; provided, however, that no SAR shall
be exercisable after the expiration of its term.

 

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(ii)         In
the event that the employment of a Participant with the Company shall terminate on account of the Retirement, Disability or death
of the Participant, (A) SARs granted to such Participant, to the extent that they were exercisable at the time of such termination,
shall remain exercisable until the expiration of their term and (B) SARs granted to such Participant, to the extent that they were
not exercisable at the time of such termination, shall expire at the close of business on the date of such termination.

 

(iii)        In
the event of the termination of the Participant’s employment for Cause, all outstanding SARs granted to such Participant
shall automatically expire at the commencement of business as of the date of such termination.

 

(e)          Tandem SARs.

 

SARs may be granted
in tandem with Options (or on a stand-alone basis). To the extent SARs are granted in tandem with Options and SARs are exercised,
the related Options shall be cancelled. Similarly, if and to the extent the Options are exercised, the related SARs shall be cancelled.

 

8.           Restricted
Stock.

 

The Board may grant
shares of Restricted Stock pursuant to the Plan. Each grant of shares of Restricted Stock shall be evidenced by an agreement in
such form as the Committee shall from time to time approve. Each grant of shares of Restricted Stock shall comply with and be subject
to the following terms and conditions:

 

(a)          Issue Date and Vesting Date.

 

At the time of the
grant of shares of Restricted Stock, the Board shall establish an Issue Date or Issue Dates and a Vesting Date or Vesting Dates
with respect to such shares. The Board may divide such shares into classes and assign a different Issue Date and/or Vesting Date
for each class. Except as provided in Sections 8(c) and 8(f) hereof, upon the occurrence of the Issue Date with respect to a share
of Restricted Stock, a share of Restricted Stock shall be issued in accordance with the provisions of Section 8(d) hereof. Provided
that all conditions to the vesting of a share of Restricted Stock imposed pursuant to Section 8(b) hereof are satisfied, and except
as provided in Sections 8(c) and 8(f) hereof, upon the occurrence of the Vesting Date with respect to a share of Restricted Stock,
such share shall vest and the restrictions of Section 8(c) hereof shall cease to apply to such share.

 

(b)          Conditions to Vesting.

 

At the time of the
grant of shares of Restricted Stock, the Board may impose such restrictions or conditions, not inconsistent with the provisions
hereof, to the vesting of such shares as it, in its absolute discretion, deems appropriate. By way of example and not by way of
limitation, the Board may require, as a condition to the vesting of any shares of Restricted Stock, that the Participant or the
Company achieve such performance criteria as the Board may specify at the time of the grant of such shares.

 

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(c)          Restrictions
on Transfer Prior to Vesting.

 

Prior to the vesting
of a share of Restricted Stock, no transfer of a Participant’s rights to such share, whether voluntary or involuntary, by
operation of law or otherwise, shall vest the transferee with any interest, or right in, or with respect to, such share, but immediately
upon any attempt to transfer such rights, such share, and all the rights related thereto, shall be forfeited by the Participant
and the transfer shall be of no force or effect.

 

(d)          Issuance
of Certificates.

 

(i)          Except
as provided in Sections 8(c) or 8(f) hereof, reasonably promptly after the Issue Date with respect to shares of Restricted
Stock, the Company shall cause to be issued a stock certificate, registered in the name of the Participant to whom such
shares were granted, evidencing such shares; provided, however, that the Company shall not cause to be issued such
stock certificate unless it has received a stock power duly endorsed in blank with respect to such shares. Each such stock
certificate shall bear the following legend:

 

THE TRANSFERABILITY OF THIS CERTIFICATE
AND THE SHARES OF STOCK REPRESENTED HEREBY ARE SUBJECT TO THE RESTRICTIONS, TERMS, AND CONDITIONS (INCLUDING FORFEITURE PROVISIONS
AND RESTRICTIONS AGAINST TRANSFER) CONTAINED IN THE COLOMBIA ENERGY RESOURCES, Inc. 2010
EQUITY INCENTIVE Plan AND INCENTIVE AWARD AGREEMENT ENTERED INTO BETWEEN THE REGISTERED OWNER OF SUCH SHARES AND COLOMBIA
ENERGY RESOURCES, inc. A COPY OF THE PLAN AND AGREEMENT IS ON FILE IN THE OFFICE
OF THE SECRETARY OF FREEDOM RESOURCES ENTERPRISES, inc., 4265 SAN FELIPE STREET,
SUITE 1100, HOUSTON, TX 77027.

 

Such legend shall not be removed from the
certificate evidencing such shares until such shares vest pursuant to the terms hereof.

 

(ii)         Each
certificate issued pursuant to Section 8(d)(i) hereof, together with the stock powers relating to the shares of Restricted
Stock evidenced by such certificate, shall be deposited by the Company with a custodian designed by the Company. The Company
shall cause such custodian to issue to the Participant a receipt evidencing the certificates held by it which are registered
in the name of the Participant.

 

(e)          Consequences
Upon Vesting.

 

Upon the vesting of
a share of Restricted Stock pursuant to the terms hereof, the restrictions of Section 8(c) hereof shall cease to apply to such
share. Reasonably promptly after a share of Restricted Stock vests pursuant to the terms hereof, the Company shall cause to be
issued and delivered to the Participant to whom such share was granted, a certificate evidencing such share, free of the legend
set forth in Section 8(d)(i) hereof, together with any other property of the Participant held by the custodian pursuant to Section
8(d)(ii) hereof.

 

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(f)          Effect
of Termination of Employment.

 

(i)          In
the event that the employment of a Participant with the Company shall terminate for any reason other than Cause prior to the vesting
of shares of Restricted Stock granted to such Participant, such Restricted Stock shall be forfeited on the date of such termination;
provided, however, that the Committee may, in its sole and absolute discretion, vest the Participant in all or any portion
of shares of Restricted Stock which would otherwise be forfeited pursuant to the provisions of this Section.

 

(ii)         In
the event of the termination of a Participant’s employment for Cause, all shares of Restricted Stock granted to such Participant
which have not vested as of the date of such termination shall immediately be forfeited.

 

9.          Stock
Bonuses.

 

The Board may grant
Stock Bonuses in such amounts as it shall determine from time to time. A Stock Bonus shall be paid at such time and subject to
such conditions as the Board shall determine at the time of the grant of such Stock Bonus. Certificates for shares of Company Stock
granted as a Stock Bonus shall be issued in the name of the Participant to whom such grant was made and delivered to such Participant
as soon as practicable after the date on which such Stock Bonus is required to be paid.

 

10.         Restricted
Stock Units.

 

The Board may also
grant awards entitling the recipient to receive shares of Common Stock or cash to be delivered at the time such award vests (“Restricted
Stock Units”).

 

(a)          Terms
and Conditions for Restricted Stock Units. The Board shall determine the terms and conditions of awards of Restricted Stock
Units, including, but not limited to, the conditions for vesting, restrictions on transfer prior to vesting, payment of withholding
taxes, and effect of termination of employment.

 

(b)          Settlement.
Upon the vesting of and/or lapsing of any other restrictions (i.e., settlement) with respect to each Restricted Stock Unit,
the Participant shall, as determined by the Committee, be entitled to receive from the Company one share of Common Stock or (if
so provided in the applicable award agreement) an amount of cash equal to the Fair Market Value of one share of Common Stock. The
Committee may, in its discretion, provide that settlement of Restricted Stock Units shall be deferred, on a mandatory basis or
at the election of the Participant in a manner that complies with Section 409A of the Code.

 

(c)          Voting
Rights. A Participant shall have no voting rights with respect to any Restricted Stock Units.

 

(d)          Dividend
Equivalents. The award agreement for Restricted Stock Units may provide Participants with the right to receive an amount equal
to any dividends or other distributions declared and paid on an equal number of outstanding shares of Common Stock (“Dividend
Equivalents”). Dividend Equivalents may be paid currently or credited to an account for the Participant, may be settled in
cash and/or shares of Common Stock and may be subject to the same restrictions on transfer and forfeitability as the Restricted
Stock Units with respect to which paid, in each case to the extent provided in the Award agreement.

 

    	13

    	 

    

 

11.         Adjustment
Upon Changes in Company Stock.

 

Provided that
the Committee shall not take any action pursuant to this Section 11 which would cause any Incentive Award to become subject
to taxation under Section 409A of the Code:

 

(a)          Shares
Available for Grants.

 

In the event of
any change in the number of shares of Company Stock outstanding by reason of any stock dividend or split, reverse stock
split, recapitalization, merger, consolidation, combination or exchange of shares or similar corporate change, the maximum
number of shares of Company Stock with respect to which the Board may grant Options, SARs, shares of Restricted Stock, Stock
Bonuses, and Restricted Stock Awards under Section 3 hereof shall be appropriately adjusted by the Committee. In the event of
any change in the number of shares of Company Stock outstanding by reason of any other event or transaction, the Committee
may, but need not, make such adjustments in the number of shares of Company Stock with respect to which Options, SARs, shares
of Restricted Stock, Stock Bonuses and Restricted Stock Awards may be granted under Section 3

hereof as the Committee may deem appropriate.

 

(b)          Outstanding
Restricted Stock.

 

Unless the Committee
in its absolute discretion otherwise determines, any securities or other property (including dividends paid in cash) received by
a Participant with respect to a share of Restricted Stock, the Issue Date with respect to which occurs prior to such event, but
which has not vested as of the date of such event, as a result of any dividend, stock split, reverse stock split, recapitalization,
merger, consolidation, combination, exchange of shares or similar corporate exchange will not vest until such share of Restricted
Stock vests and shall be promptly deposited with the custodian designated pursuant to Section 8(d)(ii)

hereof.

 

The Committee may,
in its absolute discretion, adjust any grant of shares of Restricted Stock, the Issue Date with respect to which has not occurred
as of the date of the occurrence of any of the following events, to reflect any dividend, stock split, reverse stock split, recapitalization,
merger, consolidation, combination, exchange of shares or similar corporate change as the Committee may deem appropriate to prevent
the enlargement or dilution of rights of Participants under the grant.

 

(c)          Outstanding
Options, SARs, and Restricted Stock Units – Increase or Decrease in Issued Shares Without Consideration.

 

Subject to any required
action by the shareholders of the Company, in the event of any increase or decrease in the number of issued shares of Company Stock
resulting from a subdivision or consolidation of shares of Company Stock or the payment of a stock dividend on the shares of Company
Stock, or any other increase or decrease in the number of such shares effected without receipt of consideration by the Company,
the Committee may, but need not, proportionally adjust the number of shares of Company Stock subject to each outstanding Option,
SAR, and Restricted Stock Unit and the exercise price per share of Company Stock of each such Option and SAR.

 

    	14

    	 

    

 

(d)          Outstanding
Options, SARs, and Restricted Stock Units - Certain Mergers.

 

Subject to any required
action by the shareholders of the Company, in the event that the Company shall be the surviving corporation in any merger or consolidation
(except a merger or consolidation as a result of which the holders of shares of Company Stock receive securities of another corporation),
each Option, SAR, and Restricted Stock Unit outstanding on the date of such merger or consolidation shall pertain to and apply
to the securities which a holder of the number of shares of Company Stock subject to such Option, SAR, or Restricted Stock Unit
would have received in such merger or consolidation.

 

(e)          Outstanding
Options, SARs, and Restricted Stock Units - Certain Other Transactions.

 

In the event of a dissolution
or liquidation of the Company; a sale of substantially all of the Company’s assets; a merger or consolidation involving the
Company in which the Company is not the surviving corporation; or a merger or consolidation involving the Company in which the
Company is the surviving corporation but the holders of shares of Company Stock receive securities of another corporation and/or
other property, including cash, the Committee shall, in its absolute discretion, have the power to:

 

(i)          cancel,
effective immediately prior to the occurrence of such event, each Option and SAR outstanding immediately prior to such event (whether
or not then exercisable), and, in full consideration of such cancellation, pay to the Participant to whom such Option or SAR was
granted an amount in cash, for each share of Company Stock subject to such Option or SAR, respectively, equal to the excess of
(A) the value, as determined by the Committee in its absolute discretion, of the property (including cash) received by the holder
of a share of Company Stock as a result of such event over (B) the exercise price of such Option or SAR (subject to applicable
withholding payment requirements);

 

(ii)         cancel,
effective immediately prior to the occurrence of such event, each Restricted Stock Unit outstanding immediately prior to such event
(whether or not then vested), and, in full consideration of such cancellation, pay to the Participant to whom such Restricted Stock
Unit was granted an amount in cash, for each share of Company Stock subject to such Restricted Stock Unit equal to the value, as
determined by the Committee in its absolute discretion, of the property (including cash) received by the holder of a share of Company
Stock as a result of such event; or

 

(iii)        provide
for the exchange of each Option, SAR, and Restricted Stock Unit outstanding immediately prior to such event (whether or not then
exercisable) for an option on or stock appreciation right or restricted stock unit with respect to, as appropriate, some or all
of the property for which such Option, SAR, or Restricted Stock Unit is exchanged and, incident thereto, make an equitable adjustment
as determined by the Committee in its absolute discretion in the exercise price of the option or stock appreciation right, or,
if appropriate, provide for a cash payment to the Participant to whom such Option, SAR, or Restricted Stock Unit was granted in
partial consideration for the exchange of the Option, SAR, or Restricted Stock Unit.

 

    	15

    	 

    

 

(f)          Outstanding
Options, SARs, and Restricted Stock Units - Other Changes.

 

In the event of
any change in the capitalization of the Company or a corporate change other than those specifically referred to in Sections
11(c), 11(d) or 11(e) hereof, the Committee may, in its absolute discretion, make such adjustments in the number of shares
subject to Options, SARs, or Restricted Stock Units outstanding on the date on which such change occurs and in the per share
exercise price of each such Option and SAR as the Committee may consider appropriate to prevent dilution or enlargement or
rights.

 

(g)          No
Other Rights.

 

Except as expressly
provided in the Plan, no Participant shall have any rights by reason of any subdivision or consolidation of Company Stock, the
payment of any dividend, any increase or decrease in the number of shares of Company Stock or any dissolution, liquidation, merger
or consolidation of the Company or any other corporation. Except as expressly provided in the Plan, no issuance by the Company
of Company Stock, or securities convertible into shares of Company Stock, shall affect, and no adjustment by reason thereof shall
be made with respect to, the number of shares of Company Stock subject to an Incentive Award or the exercise price of any Option
or SAR.

 

12.         Rights
as a Stockholder.

 

(a)          No
Rights as a Stockholder.

 

No Person shall
have any rights as a stockholder with respect to any shares of Company Stock covered by or relating to any Incentive Award
granted pursuant to the Plan until the date the Person becomes the owner of record with respect to such shares. Except as
otherwise expressly provided in Section 11 hereof, no adjustment to any Incentive Award shall be made for dividends or other
rights for which the record date occurs prior to the date such stock certificate is issued.

 

(b)          Accrual
of Dividends.

 

Whenever Restricted
Shares are paid to a Participant or beneficiary under the Plan, such Participant or beneficiary shall also be entitled to receive,
with respect to each Restricted Share paid, an amount equal to any cash dividends, and number of shares of Company Stock equal
to any stock dividends, declared and paid with respect to a share of Company Stock between the date the relevant Restricted Share
award was granted and the date the Restricted Shares are being distributed. At the discretion of the Committee, interest may be
paid on the amount of cash dividends withheld, including cash dividends on stock dividends, at a rate and subject to such terms
as determined by the Committee.

 

    	16

    	 

    

 

13.         No
Special Employment Rights; No Rights to Incentive Award.

 

(a)          No
Special Employment Rights.

 

Nothing contained in
the Plan or any Incentive Award shall confer upon any Participant any right with respect to the continuation of his or her employment
by or service with the Company or any subsidiary of the Company or interfere in any way with the right of the Company, subject
to the terms of any separate employment or consulting agreement to the contrary, at any time to terminate such employment or service
or to increase or decrease the compensation of the Participant from the rate in existence at the time of the grant of an Incentive
Award.

 

(b)          No
Rights to Incentive Awards.

 

No Person shall have
any claim or right to receive an Incentive Award hereunder. The Board’s granting of an Incentive Award to a Participant at
any time shall neither require the Board to grant an Incentive Award to such Participant or any other Participant or other Person
at any time nor preclude the Board from making subsequent grants to such Participant or any other Participant or other Person.

 

14.         Securities
Matters.

 

(a)          The
Company shall be under no obligation to effect the registration pursuant to the Securities Act of any interests in the Plan or
any shares of Company Stock to be issued hereunder or to effect similar compliance under any state laws. Notwithstanding anything
herein to the contrary, the Company shall not be obligated to cause to be issued or delivered any certificates evidencing shares
of Company Stock pursuant to the Plan unless and until the Company is advised by its counsel that the issuance and delivery of
such certificates is in compliance with all applicable laws, regulations of governmental authority, and the requirements of NASDAQ
and any other securities exchange on which shares of Company Stock are traded. The Committee may require, as a condition of the
issuance and delivery of certificates evidencing shares of Company Stock pursuant to the terms hereof, that the recipient of such
shares make such covenants, agreements and representations, and that such certificates bear such legends, as the Committee, in
its sole discretion, deems necessary or desirable.

 

(b)          The
exercise of any Option granted hereunder shall be effective only at such time as counsel to the Company shall have determined that
the issuance and delivery of shares of Company Stock pursuant to such exercise is in compliance with all applicable laws, regulations
of governmental authority, and the requirements of NASDAQ and any other securities exchange on which shares of Company Stock are
traded. The Committee may, in its sole discretion, defer the effectiveness of any exercise of an Option granted hereunder in order
to allow the issuance of shares of Company Stock pursuant thereto to be made pursuant to registration or an exemption from registration
or other methods for compliance available under federal or state securities laws. The Committee shall inform the Participant in
writing of its decision to defer the effectiveness of the exercise of an Option granted hereunder. During the period that the effectiveness
of the exercise of an Option has been deferred, the Participant may, by written notice, withdraw such exercise and obtain a refund
of any amount paid with respect thereto.

 

    	17

    	 

    

 

(c)          All
Company Stock issued pursuant to the terms of the Plan shall constitute “restricted securities,” as that term is defined
in Rule 144 promulgated pursuant to the Securities Act, and may not be transferred except in compliance with the registration requirements
of the Securities Act or an exemption therefrom.

 

(d)          Certificates
for shares of Company Stock, when issued, may have substantially the following legend, or statements of other applicable restrictions,
endorsed thereon, and may not be immediately transferable:

 

THE SHARES OF STOCK REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS. THE SHARES
MAY NOT BE OFFERED FOR SALE, SOLD, PLEDGED, TRANSFERRED OR OTHERWISE DISPOSED OF UNTIL THE HOLDER HEREOF PROVIDES EVIDENCE SATISFACTORY
TO THE ISSUER (WHICH, IN THE DISCRETION OF THE ISSUER, MAY INCLUDE AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER) THAT SUCH
OFFER SALE, PLEDGE, TRANSFER OR OTHER DISPOSITION WILL NOT VIOLATE APPLICABLE FEDERAL OR STATE LAWS.

 

This legend shall not be required for shares
of Company Stock issued pursuant to an effective registration statement under the Securities Act and in accordance with applicable
state securities laws.

 

15.         Withholding
Taxes.

 

(a)          Cash
Remittance.

 

Whenever shares of
Company Stock are to be issued upon the exercise of an Option, the occurrence of the Issue Date or Vesting Date with respect to
a share of Restricted Stock, the payment of a Stock Bonus, or the occurrence of the Vesting Date with respect to a Restricted Stock
Unit, the Company shall have the right to require the Participant to remit to the Company in cash an amount sufficient to satisfy
federal, state, and local withholding tax requirements, if any, attributable to such exercise, occurrence or payment prior to the
delivery of any certificate or certificates for such shares. In addition, upon the exercise of an SAR, the Company shall have the
right to withhold from any cash payment required to be made pursuant thereto an amount sufficient to satisfy the federal, state
and local withholding tax requirements, if any, attributable to such exercise or grant.

 

(b)          Stock
Remittance.

 

Subject to
Section 15(c) hereof, at the election of the Participant, subject to the approval of the Committee, when shares of Company
Stock are to be issued upon the exercise of an Option, the occurrence of the Issue Date or the Vesting Date with respect to a
share of Restricted Stock, the grant of a Stock Bonus, or the occurrence of the Vesting Date with respect to a Restricted
Stock Unit, in lieu of the remittance required by Section 15(a) hereof, the Participant may tender to the Company a number of
shares of Company Stock determined by such Participant, the Fair Market Value of which at the tender date the Committee
determines to be sufficient to satisfy the minimum federal, state and local withholding tax requirements, if any,
attributable to such exercise, occurrence or grant and not greater than the Participant’s estimated total federal,
state and local tax obligations associated with such exercise, occurrence or grant.

 

    	18

    	 

    

 

(c)          Stock
Withholding.

 

The Company
shall have the right, when shares of Company Stock are to be issued upon the exercise of an Option, the occurrence of the
Issue Date or the Vesting Date with respect to a share of Restricted Stock, the grant of a Stock Bonus, or the occurrence of
the Vesting Date with respect to a Restricted Stock Unit, in lieu of requiring the remittance required by Section 15(a)
hereof, to withhold a number of such shares, the Fair Market Value of which at the exercise date the Committee determines to
be sufficient to satisfy the federal, state and local withholding tax requirements, if any, attributable to such exercise,
occurrence or grant and is not greater than the Participant’s estimated total, federal, state and local tax obligations
associated with such exercise, occurrence or grant.

 

16.         Amendment
or Termination of the Plan.

 

The Board may at any
time, or from time to time, suspend or terminate the Plan in whole or in part, or amend it in such respects as the Board may deem
appropriate. No amendment, suspension or termination of the Plan shall, without the Participant’s consent, alter or impair
any of the rights or obligations under any Option theretofore granted to a Participant under the Plan. The Board may amend the
Plan, subject to the limitations cited above, in such manner as it deems necessary to permit the granting of Incentive Awards meeting
the requirements of future amendments or issued regulations, if any, to the Code or to the Exchange Act. Notwithstanding the foregoing,
the Board shall not take any action which would cause any Incentive Award to become subject to taxation under Section 409A of the
Code.

 

17.         No
Obligation to Exercise.

 

The grant to a Participant
of an Option or a SAR shall impose no obligation upon such Participant to exercise such Option or SAR.

 

18.         Transfers
Upon Death.

 

Upon the death
of a Participant, outstanding Incentive Awards granted to such Participant may be exercised only by the executors or
administrators of the Participant’s estate or by any Person or Persons who shall have acquired such right to exercise
by will or by the laws of descent and distribution. No transfer by will or the laws of descent and distribution of any
Incentive Award, or the right to exercise any Incentive Award, shall be effective to bind the Company unless the Committee
shall have been furnished with (a) written notice thereof and with a copy of the will and/or such evidence as the Committee
may deem necessary to establish the validity of the transfer and (b) an agreement by the transferee to comply with all the
terms and conditions of the Incentive Award that are or would have been applicable to the Participant and to be bound by the
acknowledgments made by the Participant in connection with the grant of the Incentive Award. Except as provided in this
Section 18, no Incentive Award shall be transferable, and shall be exercisable only by a Participant during the
Participant’s lifetime.

 

    	19

    	 

    

 

19.         Repurchase
Rights.

 

(a)          In
the event a Participant’s service with the Company terminates for any reason, the Company shall have an irrevocable right
(the “Repurchase Right”) for the five (5) year period immediately following such termination (or in the case of shares
issued upon exercise of the Option after such date of termination, within five (5) years immediately following the date of the
exercise), or such longer period as may be agreed to by the Company and the Participant, to repurchase, at its option, from Participant
or Participant’s personal representative, as the case may be, (i) those shares underlying Incentive Awards issued hereunder
(the “Repurchase Underlying Shares”) and (ii) those shares that Participant received in connection with or pursuant
to the exercise of an Incentive Award (the “Repurchase Shares”).

 

(b)          The
Company may repurchase all or any of the Repurchase Shares at a price (“Repurchase Price”) equal to:

 

(i)          if
Participant’s employment is terminated for Cause, the lesser of (A) the exercise price, if any, or (B) the Fair Market Value
of such Repurchase Shares on the date of the repurchase;

 

(ii)         if
Participant’s employment is terminated on account of Participant’s death or disability, the Fair Market Value of such
Repurchase Shares on the date of the repurchase; or

 

(iii)        if
Participant’s employment is terminated for any reason other than for Cause or on account of Participant’s death or
disability, the Fair Market Value of such Repurchase Shares on the date of the repurchase.

 

(c)          The
Company may repurchase all or any of the Repurchase Underlying Shares at a Repurchase Price equal to:

 

(i)          if
Participant’s employment is terminated on account of Participant’s death or disability, the Fair Market Value of such
Repurchase Underlying Shares on the date of the repurchase reduced by the aggregate exercise price payable for such Repurchase
Underlying Shares; or

 

(ii)         if
Participant’s employment is terminated for any reason other than for Cause or on account of Participant’s death or
disability, the Fair Market Value of such Repurchase Underlying Shares on the date of the repurchase reduced by the aggregate exercise
price payable for such Repurchase Underlying Shares.

 

(d)          The
Repurchase Right shall be exercised by written notice signed by an officer of the Company and delivered or mailed to the Participant.
Such notice shall identify the number of Repurchase Shares or Repurchase Underlying Shares to be repurchased and shall notify Participant
of the time, place and date for closing of such repurchase, which shall be scheduled by the Company within ten (10) days of the
end of the term of the Repurchase Right set forth above. The Company shall be entitled to pay for any shares repurchased pursuant
to its Repurchase Right at the Company’s option in cash or with a note from the Company to the Participant, or by a combination
of both. Upon delivery of such notice and payment of the Repurchase Price in any of the ways described above, the Company shall
become the legal and beneficial owner of the shares being repurchased and all rights and interest therein or related thereto, and
the Company shall have the right to transfer to its own name the shares being repurchased by the Company, without further action
by the Participant.

 

    	20

    	 

    

 

(e)          In
the event of a conflict between the terms of this Section 19 and any agreement between the Company and the Participant
related in any way to the repurchase or purchase of any shares of the Company Stock owned by Participant, including, without
limitation, a shareholder agreement, the terms of such other agreement shall prevail and control over the terms of this
Section 19. 

 

(f)          The
Company’s Repurchase Rights under this Section 19 shall terminate on the date the Company becomes subject to the
reporting requirements of the Exchange Act.

 

20.         Expenses
and Receipts.

 

The expenses of the
Plan shall be paid by the Company. Any proceeds received by the Company in connection with any Incentive Award will be used for
general purposes.

 

21.         Failure
to Comply.

 

In addition to the
remedies of the Company elsewhere provided for herein, a failure by a Participant (or beneficiary) to comply with any of the terms
and conditions of the Plan or the agreement executed by such Participant (or beneficiary) evidencing an Incentive Award, unless
such failure is remedied by such Participant (or beneficiary) within ten days after having been notified of such failure by the
Committee, shall be grounds for the cancellation and forfeiture of such Incentive Award, in whole or in part, as the Committee,
in its absolute discretion may determine.

 

22.         Adoption
and Effective Date of Plan.

 

The Plan was adopted
by the Board of Directors of the Company effective May 12, 2010. The Plan was subsequently ratified and approved by the shareholders
of the Company on May 12, 2010.

 

23.         Term
of the Plan.

 

The right to grant
Incentive Awards under the Plan will terminate upon the expiration of ten years from the date the Plan was initially adopted.

 

24.         Applicable
Law.

 

Except to the extent
preempted by an applicable federal law, the Plan will be construed and administered in accordance with the laws of the State of
New York, without reference to the principles of conflicts of law.

 

    	21TG THERAPEUTICS, INC.

AMENDED AND RESTATED 2012 INCENTIVE PLAN

 

 

 

    	 

    	 

    

 

TG THERAPEUTICS, INC.

AMENDED AND RESTATED 2012 INCENTIVE PLAN

 

	ARTICLE 1 PURPOSE	4
	1.1	General	4
	ARTICLE 2 DEFINITIONS	4
	2.1	Definitions	4
	ARTICLE 3 EFFECTIVE TERM OF PLAN	11
	3.1	Effective Date	11
	3.2	Term of Plan	11
	ARTICLE 4 ADMINISTRATION	11
	4.1	Committee	11
	4.2	Actions and Interpretations by the Committee	12
	4.3	Authority of Committee	12
	4.4	Delegation	13
	4.5	Indemnification	13
	ARTICLE 5 SHARES SUBJECT TO THE PLAN	14
	5.1	Number of Shares	14
	5.2	Share Counting	14
	5.3	Stock Distributed	15
	5.4	Limitation on Awards	15
	ARTICLE 6 ELIGIBILITY	15
	6.1	General	15
	ARTICLE 7 STOCK OPTIONS	16
	7.1	General	16
	7.2	Incentive Stock Options	17
	ARTICLE 8 STOCK APPRECIATION RIGHTS	17
	8.1	Grant of Stock Appreciation Rights	17
	ARTICLE 9 RESTRICTED STOCK AND STOCK UNITS	18
	9.1	Grant of Restricted Stock and Stock Units	18
	9.2	Issuance and Restrictions	18
	9.3	Dividends on Restricted Stock	18
	9.4	Forfeiture	19
	9.5	Delivery of Restricted Stock	19
	ARTICLE 10 PERFORMANCE AWARDS	19
	10.1	Grant of Performance Awards	19
	10.2	Performance Goals	19
	ARTICLE 11 QUALIFIED STOCK-BASED AWARDS	20
	11.1	Options and Stock Appreciation Rights	20
	11.2	Other Awards	20
	11.3	Performance Goals	21
	11.4	Inclusions and Exclusions from Performance Criteria	21
	11.5	Certification of Performance Goals	22
	11.6	Award Limits	22

 

    	- 2 -

    	 

    

 

	ARTICLE 12 DIVIDEND EQUIVALENTS	22
	12.1	Grant of Dividend Equivalents	22
	ARTICLE 13 STOCK OR OTHER STOCK-BASED AWARDS	22
	13.1	Grant of Stock or Other Stock-Based Awards	22
	ARTICLE 14 PROVISIONS APPLICABLE TO AWARDS	23
	14.1	Award Certificates	23
	14.2	Form of Payment of Awards	23
	14.3	Limits on Transfer	23
	14.4	Beneficiaries	23
	14.5	Stock Trading Restrictions	24
	14.6	Effect of a Change in Control	24
	14.7	Acceleration for Other Reasons	24
	14.8	Forfeiture Events	24
	14.9	Substitute Awards	25
	ARTICLE 15 CHANGES IN CAPITAL STRUCTURE	25
	15.1	Mandatory Adjustments	25
	15.2	Discretionary Adjustments	26
	15.3	General	26
	ARTICLE 16 AMENDMENT, MODIFICATION AND TERMINATION	26
	16.1	Amendment, Modification and Termination	26
	16.2	Awards Previously Granted	26
	16.3	Compliance Amendments	27
	ARTICLE 17 GENERAL PROVISIONS	27
	17.1	Rights of Participants	27
	17.2	Withholding	28
	17.3	Special Provisions Related to Section 409A of the Code	28
	17.4	Unfunded Status of Awards	30
	17.5	Relationship to Other Benefits	30
	17.6	Expenses	31
	17.7	Titles and Headings	31
	17.8	Gender and Number	31
	17.9	Fractional Shares	31
	17.10	Government and Other Regulations	31
	17.11	Governing Law	32
	17.12	Severability	32
	17.13	No Limitations on Rights of Company	32

  

    	- 3 -

    	 

    

 

TG THERAPEUTICS, INC.

AMENDED AND RESTATED 2012 INCENTIVE PLAN

 

ARTICLE 1

PURPOSE

 

1.1.          GENERAL.
The purpose of the TG Therapeutics, Inc. Amended and Restated 2012 Incentive Plan (the “Plan”) is to promote the success,
and enhance the value, of TG Therapeutics, Inc. (the “Company”), by linking the personal interests of employees, officers,
directors and consultants of the Company or any Affiliate (as defined below) to those of Company stockholders and by providing
such persons with an incentive for outstanding performance. The Plan is further intended to provide flexibility to the Company
in its ability to motivate, attract, and retain the services of employees, officers, directors and consultants upon whose judgment,
interest, and special effort the successful conduct of the Company’s operation is largely dependent. Accordingly, the Plan
permits the grant of incentive awards from time to time to selected employees, officers, directors and consultants of the Company
and its Affiliates.

 

ARTICLE 2

DEFINITIONS

 

2.1.          DEFINITIONS.
When a word or phrase appears in this Plan with the initial letter capitalized, and the word or phrase does not commence a sentence,
the word or phrase shall generally be given the meaning ascribed to it in this Section or in Section 1.1 unless a clearly different
meaning is required by the context. The following words and phrases shall have the following meanings:

 

(a)          “Affiliate”
means (i) any Subsidiary or Parent, or (ii) an entity that directly or through one or more intermediaries controls, is controlled
by or is under common control with, the Company, as determined by the Committee.

 

(b)          “Award”
means an award of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Deferred Stock Units, Performance
Awards, Dividend Equivalents, Other Stock-Based Awards, or any other right or interest relating to Stock or cash, granted to a
Participant under the Plan.

 

(c)          “Award
Certificate” means a written document, in such form as the Committee prescribes from time to time, setting forth the terms
and conditions of an Award. Award Certificates may be in the form of individual award agreements or certificates or a program document
describing the terms and provisions of an Award or series of Awards under the Plan. The Committee may provide for the use of electronic,
internet or other non-paper Award Certificates, and the use of electronic, internet or other non-paper means for the acceptance
thereof and actions thereunder by a Participant.

 

(d)          “Beneficial
Owner” shall have the meaning given such term in Rule 13d-3 of the General Rules and Regulations under the 1934 Act.

 

    	- 4 -

    	 

    

 

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

 

(f)          “Cause”
as a reason for a Participant’s termination of employment shall have the meaning assigned such term in the employment, severance
or similar agreement, if any, between such Participant and the Company or an Affiliate, provided, however that if there is no such
employment, severance or similar agreement in which such term is defined, and unless otherwise defined in the applicable Award
Certificate, “Cause” shall mean any of the following acts by the Participant, as determined by the Committee: gross
neglect of duty, prolonged absence from duty without the consent of the Company, material breach by the Participant of any published
Company code of conduct or code of ethics; or willful misconduct, misfeasance or malfeasance of duty which is reasonably determined
to be detrimental to the Company. With respect to a Participant’s termination of directorship, “Cause” means
an act or failure to act that constitutes cause for removal of a director under applicable Delaware law. The determination of the
Committee as to the existence of “Cause” shall be conclusive on the Participant and the Company.

 

(g)          “Change
in Control” means and includes the occurrence of any one of the following events but shall specifically exclude a Public
Offering:

 

(i)          during
any consecutive 12-month period, individuals who, at the beginning of such period, constitute the Board of Directors of the Company
(the “Incumbent Directors”) cease for any reason to constitute at least a majority of such Board, provided that any
person becoming a director after the beginning of such 12-month period and whose election or nomination for election was approved
by a vote of at least a majority of the Incumbent Directors then on the Board shall be an Incumbent Director; provided, however,
that 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 the election or removal of directors (“Election Contest”) or other actual or threatened solicitation
of proxies or consents by or on behalf of any Person other than the Board (“Proxy Contest”), including by reason of
any agreement intended to avoid or settle any Election Contest or Proxy Contest, shall be deemed an Incumbent Director; or

 

(ii)         any
Person becomes a Beneficial Owner, directly or indirectly, of either (A) 50% or more of the then-outstanding shares of common stock
of the Company (“Company Common Stock”) or (B) securities of the Company representing 50% or more of the combined voting
power of the Company’s then outstanding securities eligible to vote for the election of directors (the “Company Voting
Securities”); provided, however, that for purposes of this subsection (ii), the following acquisitions of Company Common
Stock or Company Voting Securities shall not constitute a Change in Control: (v) an acquisition directly from the Company, (w)
an acquisition by the Company or a Subsidiary, (x) an acquisition by any employee benefit plan (or related trust) sponsored or
maintained by the Company or any Subsidiary, (y) the acquisition by GTC Biotherapeutics, Inc., LFB Biotechnologies S.A.S., LFB/GTC
LLC (collectively “the Licensors”) of shares pursuant to the Option agreement between the Licensors and the Company,
dated as of April 29, 2011, or (z) an acquisition pursuant to a Non-Qualifying Transaction (as defined in subsection (iii) below);
or

 

    	- 5 -

    	 

    

 

(iii)        the
consummation of a reorganization, merger, consolidation, statutory share exchange or similar form of corporate transaction involving
the Company or a Subsidiary (a “Reorganization”), or the sale or other disposition of all or substantially all of the
Company’s assets (a “Sale”) or the acquisition of assets or stock of another corporation or other entity (an
“Acquisition”), unless immediately following such Reorganization, Sale or Acquisition: (A) all or substantially all
of the individuals and entities who were the Beneficial Owners, respectively, of the outstanding Company Common Stock and outstanding
Company Voting Securities immediately prior to such Reorganization, Sale or Acquisition beneficially own, directly or indirectly,
more than 50% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding
voting securities entitled to vote generally in the election of directors, as the case may be, of the entity resulting from such
Reorganization, Sale or Acquisition (including, without limitation, an entity which as a result of such transaction owns the Company
or all or substantially all of the Company’s assets or stock either directly or through one or more subsidiaries, the “Surviving
Entity”) in substantially the same proportions as their ownership, immediately prior to such Reorganization, Sale or Acquisition,
of the outstanding Company Common Stock and the outstanding Company Voting Securities, as the case may be, and (B) no Person (other
than (x) the Company or any Subsidiary, (y) the Surviving Entity or its ultimate parent entity, or (z) any employee benefit plan
(or related trust) sponsored or maintained by any of the foregoing) is the Beneficial Owner, directly or indirectly, of 50% or
more of the total common stock or 50% or more of the total voting power of the outstanding voting securities eligible to elect
directors of the Surviving Entity, and (C) at least a majority of the members of the board of directors of the Surviving Entity
were Incumbent Directors at the time of the Board’s approval of the execution of the initial agreement providing for such
Reorganization, Sale or Acquisition (any Reorganization, Sale or Acquisition which satisfies all of the criteria specified in (A),
(B) and (C) above shall be deemed to be a “Non-Qualifying Transaction”).

 

(h)          “Code”
means the Internal Revenue Code of 1986, as amended from time to time. For purposes of this Plan, references to sections of the
Code shall be deemed to include references to any applicable regulations thereunder and any successor or similar provision.

 

(i)          “Committee”
means the committee of the Board described in Article 4.

 

(j)          “Company”
means TG Therapeutics, Inc., a Delaware corporation, or any successor corporation.

 

    	- 6 -

    	 

    

 

(k)          “Continuous
Service” means the absence of any interruption or termination of service as an employee, officer, director or consultant
of the Company or any Affiliate, as applicable; provided, however, that for purposes of an Incentive Stock Option “Continuous
Service” means the absence of any interruption or termination of service as an employee of the Company or any Parent or Subsidiary,
as applicable, pursuant to applicable tax regulations. Continuous Service shall not be considered interrupted in the following
cases: (i) a Participant transfers employment between the Company and an Affiliate or between Affiliates, or (ii) in the discretion
of the Committee as specified at or prior to such occurrence, in the case of a spin-off, sale or disposition of the Participant’s
employer from the Company or any Affiliate, (iii) a Participant transfers from being an employee of the Company or an Affiliate
to being a director of the Company or of an Affiliate, or vice versa, (iv) in the discretion of the Committee as specified at or
prior to such occurrence, a Participant transfers from being an employee of the Company or an Affiliate to being a consultant to
the Company or of an Affiliate, or vice versa, or (v) any leave of absence authorized in writing by the Company prior to its commencement;
provided, however, that for purposes of Incentive Stock Options, no such leave may exceed 90 days, unless reemployment upon expiration
of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company
is not so guaranteed, on the 91st day of such leave any Incentive Stock Option held by the Participant shall cease to be treated
as an Incentive Stock Option and shall be treated for tax purposes as a Nonstatutory Stock Option. Whether military, government
or other service or other leave of absence shall constitute a termination of Continuous Service shall be determined in each case
by the Committee at its discretion, and any determination by the Committee shall be final and conclusive; provided, however, that
for purposes of any Award that is subject to Code Section 409A, the determination of a leave of absence must comply with the requirements
of a “bona fide leave of absence” as provided in Treas. Reg. Section 1.409A-1(h).

 

(l)          “Covered
Employee” means a covered employee as defined in Code Section 162(m)(3).

 

(m)          “Deferred
Stock Unit” means a right granted to a Participant under Article 9 to receive Shares (or the equivalent value in cash or
other property if the Committee so provides) at a future time as determined by the Committee, or as determined by the Participant
within guidelines established by the Committee in the case of voluntary deferral elections.

 

(n)          “Disability”
of a Participant means that the Participant (i) is unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous
period of not less than 12 months, or (ii) is, by reason of any medically determinable physical or mental impairment which can
be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income
replacement benefits for a period of not less than three months under an accident or health plan covering employees of the Participant’s
employer. If the determination of Disability relates to an Incentive Stock Option, Disability means Permanent and Total Disability
as defined in Section 22(e)(3) of the Code. In the event of a dispute, the determination of whether a Participant has incurred
a Disability will be made by the Committee and may be supported by the advice of a physician competent in the area to which such
Disability relates.

 

    	- 7 -

    	 

    

 

(o)          “Dividend
Equivalent” means a right granted to a Participant under Article 12.

 

(p)          “Effective
Date” has the meaning assigned such term in Section 3.1.

 

(q)          “Eligible
Participant” means an employee (including a leased employee), officer, director or consultant of the Company or any Affiliate.

 

(r)          “Exchange”
means any national securities exchange on which the Stock may from time to time be listed or traded.

 

(s)          “Fair
Market Value,” on any date, means (i) if the Stock is listed on a securities exchange, the closing sales price on such exchange
on such date or, in the absence of reported sales on such date, the closing sales price on the immediately preceding date on which
sales were reported, or (ii) if the Stock is not listed on a securities exchange, the mean between the bid and offered prices as
quoted by the applicable interdealer quotation system for such date, provided that if the Stock is not quoted on an interdealer
quotation system or it is determined that the fair market value is not properly reflected by such quotations, Fair Market Value
will be determined by such other method as the Committee determines in good faith to be reasonable and in compliance with Code
Section 409A.

 

(t)          “Full-Value
Award” means an Award other than in the form of an Option or SAR, and which is settled by the issuance of Stock (or at the
discretion of the Committee, settled in cash valued by reference to Stock value).

 

(u)          “Good
Reason” has the meaning, if any, assigned such term in the employment, consulting, severance or similar agreement, if any,
between a Participant and the Company or an Affiliate; provided, however, that if there is no such employment, consulting, severance
or similar agreement in which such term is defined, “Good Reason” shall have the meaning, if any, given such term in
the applicable Award Certificate. If not defined in either such document, the term “Good Reason” as used herein shall
not apply to a particular Award.

 

(v)         “Grant
Date” of an Award means the first date on which all necessary corporate action has been taken to approve the grant of the
Award as provided in the Plan, or such later date as is determined and specified as part of that authorization process. Notice
of the grant shall be provided to the grantee within a reasonable time after the Grant Date.

 

    	- 8 -

    	 

    

 

(w)          “Incentive
Stock Option” means an Option that is intended to be an incentive stock option and meets the requirements of Section 422
of the Code or any successor provision thereto.

 

(x)          “Independent
Directors” means those members of the Board of Directors who qualify at any given time as (a) an “independent”
director under the applicable rules of each Exchange on which the Shares are listed, (b) a “non-employee” director
under Rule 16b-3 of the 1934 Act, and (c) an “outside” director under Section 162(m) of the Code.

 

(y)          “Non-Employee
Director” means a director of the Company who is not a common law employee of the Company or an Affiliate.

 

(z)          “Nonstatutory
Stock Option” means an Option that is not an Incentive Stock Option.

 

(aa)         “Option”
means a right granted to a Participant under Article 7 of the Plan to purchase Stock at a specified price during specified time
periods. An Option may be either an Incentive Stock Option or a Nonstatutory Stock Option.

 

(bb)         “Other
Stock-Based Award” means a right, granted to a Participant under Article 13, that relates to or is valued by reference to
Stock or other Awards relating to Stock.

 

(cc)         “Parent”
means a corporation, limited liability company, partnership or other entity which owns or beneficially owns a majority of the outstanding
voting stock or voting power of the Company. Notwithstanding the above, with respect to an Incentive Stock Option, Parent shall
have the meaning set forth in Section 424(e) of the Code.

 

(dd)         “Participant”
means an Eligible Participant who has been granted an Award under the Plan; provided that in the case of the death of a Participant,
the term “Participant” refers to a beneficiary designated pursuant to Section 14.4 or the legal guardian or other legal
representative acting in a fiduciary capacity on behalf of the Participant under applicable state law and court supervision.

 

(ee)         “Performance
Award” means any award granted under the Plan pursuant to Article 10.

 

(ff)         “Person”
means any individual, entity or group, within the meaning of Section 3(a)(9) of the 1934 Act and as used in Section 13(d)(3) or
14(d)(2) of the 1934 Act.

 

(gg)         “Plan”
means the TG Therapeutics, Inc. Amended and Restated 2012 Incentive Plan, as amended from time to time.

 

(hh)         “Public
Offering” means a public offering of any class or series of the Company’s equity securities pursuant to a registration
statement filed by the Company under the 1933 Act.

 

    	- 9 -

    	 

    

 

(ii)         “Qualified
Performance-Based Award” means an Award that is either (i) intended to qualify for the Section 162(m) Exemption and is made
subject to performance goals based on Qualified Business Criteria as set forth in Section 11.2, or (ii) an Option or SAR having
an exercise price equal to or greater than the Fair Market Value of the underlying Stock as of the Grant Date.

 

(jj)         “Qualified
Business Criteria” means one or more of the Business Criteria listed in Section 11.2 upon which performance goals for certain
Qualified Performance-Based Awards may be established by the Committee.

 

(kk)         “Restricted
Stock” means Stock granted to a Participant under Article 9 that is subject to certain restrictions and to risk of forfeiture.

 

(ll)         “Restricted
Stock Unit” means the right granted to a Participant under Article 9 to receive shares of Stock (or the equivalent value
in cash or other property if the Committee so provides) in the future, which right is subject to certain restrictions and to risk
of forfeiture.

 

(mm)         “Section
162(m) Exemption” means the exemption from the limitation on deductibility imposed by Section 162(m) of the Code that is
set forth in Section 162(m)(4)(C) of the Code or any successor provision thereto.

 

(nn)         “Shares”
means shares of the Company’s Stock. If there has been an adjustment or substitution pursuant to Article 15, the term “Shares”
shall also include any shares of stock or other securities that are substituted for Shares or into which Shares are adjusted pursuant
to Article 15.

 

(oo)         “Stock”
means the $0.001 par value common stock of the Company and such other securities of the Company as may be substituted for Stock
pursuant to Article 15.

 

(pp)         “Stock
Appreciation Right” or “SAR” means a right granted to a Participant under Article 8 to receive a payment equal
to the difference between the Fair Market Value of a Share as of the date of exercise of the SAR over the base price of the SAR,
all as determined pursuant to Article 8.

 

(qq)         “Subsidiary”
means any corporation, limited liability company, partnership or other entity, domestic or foreign, of which a majority of the
outstanding voting stock or voting power is beneficially owned directly or indirectly by the Company. Notwithstanding the above,
with respect to an Incentive Stock Option, Subsidiary shall have the meaning set forth in Section 424(f) of the Code.

 

(rr)         “1933
Act” means the Securities Act of 1933, as amended from time to time.

 

    	- 10 -

    	 

    

 

(ss)         “1934
Act” means the Securities Exchange Act of 1934, as amended from time to time.

 

ARTICLE 3

EFFECTIVE TERM OF PLAN

 

3.1.          EFFECTIVE
DATE. Subject to the approval of the Plan by the Company’s stockholders within 12 months after the Plan’s adoption
by the Board, the Plan will become effective on the date that it is adopted by the Board (the “Effective Date”).

 

3.2.          TERMINATION
OF PLAN. Unless earlier terminated as provided herein, the Plan shall continue in effect until the date of the 2022 stockholders’
meeting or, if the stockholders approve an amendment to the Plan that increases the number of Shares subject to the Plan, the tenth
anniversary of the date of such approval. The termination of the Plan on such date shall not affect the validity of any Award outstanding
on the date of termination, which shall continue to be governed by the applicable terms and conditions of the Plan. Notwithstanding
the foregoing, no Incentive Stock Options may be granted more than ten (10) years after the Effective Date.

 

ARTICLE 4

ADMINISTRATION

 

4.1.          COMMITTEE.
The Plan shall be administered by a Committee appointed by the Board (which Committee shall consist of at least two directors)
or, at the discretion of the Board from time to time, the Plan may be administered by the Board. It is intended that at least two
of the directors appointed to serve on the Committee shall be Independent Directors and that any such members of the Committee
who do not so qualify shall abstain from participating in any decision to make or administer Awards that are made to Eligible Participants
who at the time of consideration for such Award (i) are persons subject to the short-swing profit rules of Section 16 of the 1934
Act, or (ii) are reasonably anticipated to become Covered Employees during the term of the Award. However, the mere fact that a
Committee member shall fail to qualify as an Independent Director or shall fail to abstain from such action shall not invalidate
any Award made by the Committee which Award is otherwise validly made under the Plan. The members of the Committee shall be appointed
by, and may be changed at any time and from time to time in the discretion of, the Board. Unless and until changed by the Board,
the Compensation Committee of the Board is designated as the Committee to administer the Plan. The Board may reserve to itself
any or all of the authority and responsibility of the Committee under the Plan or may act as administrator of the Plan for any
and all purposes. To the extent the Board has reserved any authority and responsibility or during any time that the Board is acting
as administrator of the Plan, it shall have all the powers and protections of the Committee hereunder, and any reference herein
to the Committee (other than in this Section 4.1) shall include the Board. To the extent any action of the Board under the Plan
conflicts with actions taken by the Committee, the actions of the Board shall control. Notwithstanding any of the foregoing, grants
of Awards to Non-Employee Directors under the Plan shall be made only in accordance with the terms, conditions and parameters of
a plan, program or policy for the compensation of Non-Employee Directors that is approved and administered by a committee of the
Board consisting solely of Independent Directors.

 

    	- 11 -

    	 

    

 

4.2.          ACTION
AND INTERPRETATIONS BY THE COMMITTEE. For purposes of administering the Plan, the Committee may from time to time adopt rules,
regulations, guidelines and procedures for carrying out the provisions and purposes of the Plan and make such other determinations,
not inconsistent with the Plan, as the Committee may deem appropriate. The Committee may correct any defect, supply any omission
or reconcile any inconsistency in the Plan or in any Award in the manner and to the extent it deems necessary to carry out the
intent of the Plan. The Committee’s interpretation of the Plan, any Awards granted under the Plan, any Award Certificate
and all decisions and determinations by the Committee with respect to the Plan are final, binding, and conclusive on all parties.
Each member of the Committee is entitled to, in good faith, rely or act upon any report or other information furnished to that
member by any officer or other employee of the Company or any Affiliate, the Company’s or an Affiliate’s independent
certified public accountants, Company counsel or any executive compensation consultant or other professional retained by the Company
or the Committee to assist in the administration of the Plan. No member of the Committee will be liable for any good faith determination,
act or omission in connection with the Plan or any Award.

 

4.3.          AUTHORITY
OF COMMITTEE. Except as provided in Section 4.1 hereof, the Committee has the exclusive power, authority and discretion to:

 

(a)          grant
Awards;

 

(b)          designate
Participants;

 

(c)          determine
the type or types of Awards to be granted to each Participant;

 

(d)          determine
the number of Awards to be granted and the number of Shares or dollar amount to which an Award will relate;

 

(e)          determine
the terms and conditions of any Award granted under the Plan;

 

(f)          prescribe
the form of each Award Certificate, which need not be identical for each Participant;

 

(g)          decide
all other matters that must be determined in connection with an Award;

 

(h)          establish,
adopt or revise any rules, regulations, guidelines or procedures as it may deem necessary or advisable to administer the Plan;

 

(i)          make
all other decisions and determinations that may be required under the Plan or as the Committee deems necessary or advisable to
administer the Plan;

 

(j)          amend
the Plan or any Award Certificate as provided herein; and

 

    	- 12 -

    	 

    

 

(k)          adopt
such modifications, procedures, and subplans as may be necessary or desirable to comply with provisions of the laws of the United
States or any non-U.S. jurisdictions in which the Company or any Affiliate may operate, in order to assure the viability of the
benefits of Awards granted to participants located in the United States or such other jurisdictions and to further the objectives
of the Plan.

 

4.4.          DELEGATION

 

(a)          Administrative
Duties. The Committee may delegate to one or more of its members or to one or more officers of the Company or an Affiliate
or to one or more agents or advisors such administrative duties or powers as it may deem advisable, and the Committee or any individuals
to whom it has delegated duties or powers as aforesaid may employ one or more individuals to render advice with respect to any
responsibility the Committee or such individuals may have under this Plan.

 

(b)          Special
Committee. The Board may, by resolution, expressly delegate to a special committee, consisting of one or more directors who
may but need not be officers of the Company, the authority, within specified parameters as to the number and terms of Awards, to
(i) designate officers and/or employees of the Company or any of its Affiliates to be recipients of Awards under the Plan, and
(ii) to determine the number of such Awards to be received by any such Participants. The acts of such delegates shall be treated
hereunder as acts of the Board and such delegates shall report regularly to the Board and the Compensation Committee regarding
the delegated duties and responsibilities and any Awards so granted.

 

4.5.          INDEMNIFICATION.
Each person who is or shall have been a member of the Committee, or of the Board, or an officer of the Company to whom authority
was delegated in accordance with this Article 4 shall be indemnified and held harmless by the Company against and from any loss,
cost, liability, or expense that may be imposed upon or reasonably incurred by him or her in connection with or resulting from
any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any
action taken or failure to act under the Plan and against and from any and all amounts paid by him or her in settlement thereof,
with the Company’s approval, or paid by him or her in satisfaction of any judgment in any such action, suit, or proceeding
against him or her, provided he or she shall give the Company an opportunity, at its own expense, to handle and defend the same
before he or she undertakes to handle and defend it on his or her own behalf, unless such loss, cost, liability, or expense is
a result of his or her own willful misconduct or except as expressly provided by statute. The foregoing right of indemnification
shall not be exclusive of any other rights of indemnification to which such persons may be entitled under the Company’s charter
or bylaws, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless.

 

    	- 13 -

    	 

    

 

ARTICLE 5

SHARES SUBJECT TO THE PLAN

 

5.1.          NUMBER
OF SHARES. Subject to adjustment as provided in Sections 5.2 and Section 15.1, the aggregate number of Shares reserved and
available for issuance pursuant to Awards granted under the Plan shall be 6,000,000. The maximum number of Shares that may be issued
upon exercise of Incentive Stock Options granted under the Plan shall be 1,333,333.

 

5.2.          SHARE
COUNTING. Shares covered by an Award shall be subtracted from the Plan share reserve as of the Grant Date as provided in subsection
(a) below, but shall be added back to the Plan share reserve or otherwise treated in accordance with subsections (b) through (i)
of this Section 5.2.

 

(a)          To
the extent that an Award is canceled, terminates, expires, is forfeited or lapses for any reason, any unissued or forfeited Shares
subject to the Award will be added back to the Plan share reserve and again be available for issuance pursuant to Awards granted
under the Plan.

 

(b)          Shares
subject to Awards settled in cash will be added back to the Plan share reserve and again be available for issuance pursuant to
Awards granted under the Plan.

 

(c)          Shares
withheld or repurchased from an Award or delivered by a Participant to satisfy minimum tax withholding requirements will be added
back to the Plan share reserve and again be available for issuance pursuant to Awards granted under the Plan.

 

(d)          If
the exercise price of an Option is satisfied in whole or in part by delivering Shares to the Company (by either actual delivery
or attestation), the number of Shares so tendered (by delivery or attestation) shall be added to the Plan share reserve and will
be available for issuance pursuant to Awards granted under the Plan.

 

(e)          To
the extent that the full number of Shares subject to an Option or SAR is not issued upon exercise of the Option or SAR for any
reason, including by reason of net-settlement of the Award, the unissued Shares originally subject to the Award will be added back
to the Plan share reserve and again be available for issuance pursuant to other Awards granted under the Plan.

 

(f)          To
the extent that the full number of Shares subject to a Full Value Award is not issued for any reason, including by reason of failure
to achieve maximum performance goals, the unissued Shares originally subject to the Award will be added back to the Plan share
reserve and again be available for issuance pursuant to Awards granted under the Plan.

 

 

(g)          Substitute
Awards granted pursuant to Section 14.9 of the Plan shall not count against the Shares otherwise available for issuance under the
Plan under Section 5.1.

 

    	- 14 -

    	 

    

 

(h)          Shares
available under a stockholder-approved plan of a company acquired by the Company (as appropriately adjusted to Shares to reflect
the transaction) may be issued under the Plan pursuant to Awards granted to individuals who were not employees of the Company or
its Affiliates immediately before such transaction and will not count against the maximum share limitation specified in Section
5.1.

 

5.3.          STOCK
DISTRIBUTED. Any Stock distributed pursuant to an Award may consist, in whole or in part, of authorized and unissued Stock,
treasury Stock or Stock purchased on the open market.

 

5.4.          LIMITATION
ON AWARDS. Notwithstanding any provision in the Plan to the contrary (but subject to adjustment as provided in Article 15):

 

(a)          Options.
The maximum number of Shares subject to time-vesting Options granted under the Plan in any 12-month period to any one Participant
shall be 2,000,000.

 

(b)          SARs.
The maximum number of Shares subject to time-vesting Stock Appreciation Rights granted under the Plan in any 12-month period to
any one Participant shall be 2,000,000.

 

(c)          Performance
Awards. With respect to any one 12-month period (i) the maximum amount that may be paid to any one Participant for Performance
Awards payable in cash or property other than Shares shall be $15,000,000, and (ii) the maximum
number of Shares that may be paid to any one Participant for Performance Awards payable in Stock shall be 2,000,000 Shares. For
purposes of applying these limits in the case of multi-year performance periods, the amount of cash or property or number of Shares
deemed paid with respect to any one 12-month period is the total amount payable or Shares earned for the performance period divided
by the number of 12-month periods in the performance period.

 

ARTICLE 6

ELIGIBILITY

 

6.1.          GENERAL.
Awards may be granted only to Eligible Participants. Incentive Stock Options may be granted only to Eligible Participants who are
employees of the Company or a Parent or Subsidiary as defined in Section 424(e) and (f) of the Code. Eligible Participants who
are service providers to an Affiliate may be granted Options or SARs under this Plan only if the Affiliate qualifies as an “eligible
issuer of service recipient stock” within the meaning of §1.409A-1(b)(5)(iii)(E) of the final regulations under Code
Section 409A.

 

    	- 15 -

    	 

    

 

ARTICLE 7

STOCK OPTIONS

 

7.1.          GENERAL.
The Committee is authorized to grant Options to Participants on the following terms and conditions:

 

(a)          Exercise
Price. The exercise price per Share under an Option shall be determined by the Committee, provided that the exercise price
for any Option (other than an Option issued as a substitute Award pursuant to Section 14.9) shall not be less than the Fair Market
Value as of the Grant Date.

 

(b)          Prohibition
on Repricing. Except as otherwise provided in Section 15.1, the exercise price of an Option may not be reduced, directly or
indirectly by cancellation and regrant or otherwise, without the prior approval of the stockholders of the Company. In addition,
the Company may not, without the prior approval of stockholders of the Company, repurchase an Option for value from a Participant
if the current Fair Market Value of the Shares underlying the Option is lower than the exercise price per share of the Option.

 

(c)          Time
and Conditions of Exercise. The Committee shall determine the time or times at which an Option may be exercised in whole or
in part, subject to Section 7.1(e), and may include in the Award Certificate a provision that
an Option that is otherwise exercisable and has an exercise price that is less than the Fair Market Value of the Stock on the last
day of its term will be automatically exercised on such final date of the term by means of a “net exercise,” thus entitling
the optionee to Shares equal to the intrinsic value of the Option on such exercise date, less the number of Shares required for
tax withholding. The Committee shall also determine the performance or other conditions, if any, that must be satisfied before
all or part of an Option may be exercised or vested.

 

(d)          Payment.
The Committee shall determine the methods by which the exercise price of an Option may be paid, the form of payment, and the methods
by which Shares shall be delivered or deemed to be delivered to Participants. As determined by the Committee at or after the Grant
Date, payment of the exercise price of an Option may be made, in whole or in part, in the form of (i) cash or cash equivalents,
(ii) delivery (by either actual delivery or attestation) of previously-acquired Shares based on the Fair Market Value of the Shares
on the date the Option is exercised, (iii) withholding of Shares from the Option based on the Fair Market Value of the Shares on
the date the Option is exercised, (iv) broker-assisted market sales, or (iv) any other “cashless exercise” arrangement.

 

(e)          Exercise
Term. Except for Nonstatutory Options granted to Participants outside the United States, no Option granted under the Plan shall
be exercisable for more than ten years from the Grant Date.

 

(f)          No
Deferral Feature. No Option shall provide for any feature for the deferral of compensation other than the deferral of recognition
of income until the exercise or disposition of the Option.

 

(g)          No
Dividend Equivalents. No Option shall provide for Dividend Equivalents.

 

    	- 16 -

    	 

    

 

7.2.          INCENTIVE
STOCK OPTIONS. The terms of any Incentive Stock Options granted under the Plan must comply with the requirements of Section
422 of the Code. Without limiting the foregoing, any Incentive Stock Option granted to a Participant who at the Grant Date owns
more than 10% of the voting power of all classes of shares of the Company must have an exercise price per Share of not less than
110% of the Fair Market Value per Share on the Grant Date and an Option term of not more than five years. If all of the requirements
of Section 422 of the Code (including the above) are not met, the Option shall automatically become a Nonstatutory Stock Option.

 

ARTICLE 8

STOCK APPRECIATION RIGHTS

 

8.1.          GRANT
OF STOCK APPRECIATION RIGHTS. The Committee is authorized to grant Stock Appreciation Rights to Participants on the following
terms and conditions:

 

(a)          Right
to Payment. Upon the exercise of a SAR, the Participant has the right to receive, for each Share with respect to which the
SAR is being exercised, the excess, if any, of:

 

(1)         The
Fair Market Value of one Share on the date of exercise; over

 

(2)         The
base price of the SAR as determined by the Committee and set forth in the Award Certificate, which shall not be less than the Fair
Market Value of one Share on the Grant Date.

 

(b)          Prohibition
on Repricing. Except as otherwise provided in Section 15.1, the base price of a SAR may not be reduced, directly or indirectly
by cancellation and regrant or otherwise, without the prior approval of the stockholders of the Company. In addition, the Company
may not, without the prior approval of stockholders of the Company, repurchase a SAR for value from a Participant if the current
Fair Market Value of the Shares underlying the SAR is lower than the base price per share of the SAR.

 

(c)          Time
and Conditions of Exercise. The Committee shall determine the time or times at which a SAR may be exercised in whole or in
part, and may include in the Award Certificate a provision that a SAR that is otherwise exercisable
and has a base price that is less than the Fair Market Value of the Stock on the last day of its term will be automatically exercised
on such final date of the term, thus entitling the holder to cash or Shares equal to the intrinsic value of the SAR on such exercise
date, less the cash or number of Shares required for tax withholding. Except for SARs granted to Participants outside the United
States, no SAR shall be exercisable for more than ten years from the Grant Date.

 

(d)          No
Deferral Feature. No SAR shall provide for any feature for the deferral of compensation other than the deferral of recognition
of income until the exercise or disposition of the SAR.

 

    	- 17 -

    	 

    

 

(e)          No
Dividend Equivalents. No SAR shall provide for Dividend Equivalents.

 

(f)          Other
Terms. All SARs shall be evidenced by an Award Certificate. Subject to the limitations of this Article 8, the terms, methods
of exercise, methods of settlement, form of consideration payable in settlement (e.g., cash, Shares or other property), and any
other terms and conditions of the SAR shall be determined by the Committee at the time of the grant and shall be reflected in the
Award Certificate.

 

ARTICLE 9

RESTRICTED STOCK AND STOCK UNITS

 

9.1.          GRANT
OF RESTRICTED STOCK AND STOCK UNITS. The Committee is authorized to make Awards of Restricted Stock, Restricted Stock Units
or Deferred Stock Units to Participants in such amounts and subject to such terms and conditions as may be selected by the Committee.
An Award of Restricted Stock, Restricted Stock Units or Deferred Stock Units shall be evidenced by an Award Certificate setting
forth the terms, conditions, and restrictions applicable to the Award.

 

9.2.          ISSUANCE
AND RESTRICTIONS. Restricted Stock, Restricted Stock Units or Deferred Stock Units shall be subject to such restrictions on
transferability and other restrictions as the Committee may impose (including, for example, limitations on the right to vote Restricted
Stock or the right to receive dividends on the Restricted Stock). These restrictions may lapse separately or in combination at
such times, under such circumstances, in such installments, upon the satisfaction of performance goals or otherwise, as the Committee
determines at the time of the grant of the Award or thereafter. Except as otherwise provided in an Award Certificate or any special
Plan document governing an Award, a Participant shall have none of the rights of a stockholder with respect to Restricted Stock
Units or Deferred Stock Units until such time as Shares of Stock are paid in settlement of such Awards.

 

9.3           DIVIDENDS
ON RESTRICTED STOCK. In the case of Restricted Stock, the Committee may provide that ordinary cash dividends declared on the
Shares before they are vested (i) will be forfeited, (ii) will be deemed to have been reinvested in additional Shares or otherwise
reinvested (subject to Share availability under Section 5.1 hereof), or (iii) in the case of Restricted Stock that is not subject
to performance-based vesting, will be paid or distributed to the Participant as accrued (in which case, such dividends must be
paid or distributed no later than the 15th day of the 3rd month following the later of (A) the calendar year in which the corresponding
dividends were paid to stockholders, or (B) the first calendar year in which the Participant’s right to such dividends is
no longer subject to a substantial risk of forfeiture). Unless otherwise provided by the Committee, dividends accrued on Shares
of Restricted Stock before they are vested shall, as provided in the Award Certificate, either (i) be reinvested in the form of
additional Shares, which shall be subject to the same vesting provisions as provided for the host Award, or (ii) be credited by
the Company to an account for the Participant and accumulated without interest until the date upon which the host Award becomes
vested, and any dividends accrued with respect to forfeited Restricted Stock will be reconveyed to the Company without further
consideration or any act or action by the Participant.

 

    	- 18 -

    	 

    

 

9.4.          FORFEITURE.
Subject to the terms of the Award Certificate and except as otherwise determined by the Committee at the time of the grant of the
Award or thereafter, upon termination of Continuous Service during the applicable restriction period or upon failure to satisfy
a performance goal during the applicable restriction period, Restricted Stock or Restricted Stock Units that are at that time subject
to restrictions shall be forfeited.

 

9.5.          DELIVERY
OF RESTRICTED STOCK. Shares of Restricted Stock shall be delivered to the Participant at the Grant Date either by book-entry
registration or by delivering to the Participant, or a custodian or escrow agent (including, without limitation, the Company or
one or more of its employees) designated by the Committee, a stock certificate or certificates registered in the name of the Participant.
If physical certificates representing shares of Restricted Stock are registered in the name of the Participant, such certificates
must bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Stock.

 

ARTICLE 10

PERFORMANCE AWARDS

 

10.1.          GRANT
OF PERFORMANCE AWARDS. The Committee is authorized to grant any Award under this Plan, including cash-based Awards, with performance-based
vesting criteria, on such terms and conditions as may be selected by the Committee. Any such Awards with performance-based vesting
criteria are referred to herein as Performance Awards. The Committee shall have the complete discretion to determine the number
of Performance Awards granted to each Participant, subject to Section 5.4, and to designate the provisions of such Performance
Awards as provided in Section 4.3. All Performance Awards shall be evidenced by an Award Certificate or a written program established
by the Committee, pursuant to which Performance Awards are awarded under the Plan under uniform terms, conditions and restrictions
set forth in such written program.

 

10.2.          PERFORMANCE
GOALS. The Committee may establish performance goals for Performance Awards which may be based on any criteria selected by
the Committee. Such performance goals may be described in terms of Company-wide objectives or in terms of objectives that relate
to the performance of the Participant, an Affiliate or a division, region, department or function within the Company or an Affiliate.
If the Committee determines that a change in the business, operations, corporate structure or capital structure of the Company
or the manner in which the Company or an Affiliate conducts its business, or other events or circumstances render performance goals
to be unsuitable, the Committee may modify such performance goals in whole or in part, as the Committee deems appropriate. If a
Participant is promoted, demoted or transferred to a different business unit or function during a performance period, the Committee
may determine that the performance goals or performance period are no longer appropriate and may (i) adjust, change or eliminate
the performance goals or the applicable performance period as it deems appropriate to make such goals and period comparable to
the initial goals and period, or (ii) make a cash payment to the participant in an amount determined by the Committee. The foregoing
two sentences shall not apply with respect to a Performance Award that is intended to be a Qualified Performance-Based Award if
the recipient of such award (a) was a Covered Employee on the date of the modification, adjustment, change or elimination of the
performance goals or performance period, or (b) in the reasonable judgment of the Committee, may be a Covered Employee on the date
the Performance Award is expected to be paid.

 

    	- 19 -

    	 

    

 

ARTICLE 11

QUALIFIED PERFORMANCE-BASED AWARDS

 

11.1.          OPTIONS
AND STOCK APPRECIATION RIGHTS. The provisions of the Plan are intended to ensure that all Options and Stock Appreciation Rights
granted hereunder to any Covered Employee shall qualify for the Section 162(m) Exemption.

 

11.2.          OTHER
AWARDS. When granting any other Award, the Committee may designate such Award as a Qualified Performance-Based Award, based
upon a determination that the recipient is or may be a Covered Employee with respect to such Award, and the Committee wishes such
Award to qualify for the Section 162(m) Exemption. If an Award is so designated, the Committee shall establish performance goals
for such Award within the time period prescribed by Section 162(m) of the Code based on one or more of the following Qualified
Business Criteria, which may be expressed in terms of Company-wide objectives or in terms of objectives that relate to the performance
of an Affiliate or a division, region, department or function within the Company or an Affiliate:

 

		·	Revenue

		·	Sales

		·	Profit (net profit, gross profit, operating profit, economic profit, profit margins or other corporate profit measures)

		·	Earnings (EBIT, EBITDA, earnings per share, or other corporate earnings measures)

		·	Net income (before or after taxes, operating income or other income measures)

		·	Cash (cash flow, cash generation, working capital, or other cash measures)

		·	Stock price or performance

		·	Total stockholder return (stock price appreciation plus reinvested dividends)

		·	Return on equity

		·	Return on assets

		·	Return on investment

		·	Market share

		·	Improvements in capital structure

		·	Expenses (expense management, expense ratio, expense efficiency ratios or other expense measures)

		·	Business expansion or consolidation (acquisitions, divestitures, in-licensing, or product acquisitions)

		·	Market capitalization

		·	Clinical and regulatory milestones

		·	Corporate financing activities

 

    	- 20 -

    	 

    

		·	Supply, production, and manufacturing milestones

		·	Corporate partnerships or strategic alliances

 

Performance goals with respect to the foregoing
Qualified Business Criteria may be specified in absolute terms, in percentages, or in terms of growth from period to period or
growth rates over time, as well as measured relative to the performance of a group of comparator companies, or a published or special
index, or a stock market index, that the Committee deems appropriate. Any member of a comparator group or an index that ceases
to exist during a measurement period shall be disregarded for the entire measurement period. Performance Goals need not be based
upon an increase or positive result under a business criterion and could include, for example, the maintenance of the status quo
or the limitation of economic losses (measured, in each case, by reference to a specific business criterion).

 

11.3.   PERFORMANCE
GOALS. Each Qualified Performance-Based Award (other than a market-priced Option or SAR) shall be earned, vested and payable
(as applicable) only upon the achievement of performance goals established by the Committee based upon one or more of the Qualified
Business Criteria, together with the satisfaction of any other conditions, such as continued employment, as the Committee may determine
to be appropriate; provided, however, that the Committee may provide, either in connection with the grant thereof or by amendment
thereafter, that achievement of such performance goals will be waived, in whole or in part, upon (i) the termination of employment
of a Participant by reason of death or Disability, or (ii) the occurrence of a Change in Control. Performance periods established
by the Committee for any such Qualified Performance-Based Award may be as short as three months and may be any longer period. In
addition, the Committee has the right, in connection with the grant of a Qualified Performance-Based Award, to exercise negative
discretion to determine that the portion of such Award actually earned, vested and/or payable (as applicable) shall be less than
the portion that would be earned, vested and/or payable based solely upon application of the applicable performance goals.

 

11.4.   INCLUSIONS
AND EXCLUSIONS FROM PERFORMANCE CRITERIA. The Committee may provide in any Qualified Performance-Based Award, at the time the
performance goals are established, that any evaluation of performance shall exclude or otherwise objectively adjust for any specified
circumstance or event that occurs during a performance period, including by way of example but without limitation the following:
(a) asset write-downs or impairment charges; (b) litigation or claim judgments or settlements; (c) the effect of changes in tax
laws, accounting principles or other laws or provisions affecting reported results; (d) accruals for reorganization and restructuring
programs; (e) extraordinary nonrecurring items as described in then-current accounting principles; (f) extraordinary nonrecurring
items as described in management’s discussion and analysis of financial condition and results of operations appearing in
the Company’s annual report to stockholders for the applicable year; (g) acquisitions or divestitures; and (h) foreign exchange
gains and losses. To the extent such inclusions or exclusions affect Awards to Covered Employees, they shall be prescribed in a
form that meets the requirements of Code Section 162(m) for deductibility.

 

    	- 21 -

    	 

    

 

11.5.   CERTIFICATION
OF PERFORMANCE GOALS. Any payment of a Qualified Performance-Based Award granted with performance goals pursuant to Section
11.3 above shall be conditioned on the written certification of the Committee in each case that the performance goals and any other
material conditions were satisfied. Except as specifically provided in Section 11.3, no Qualified Performance-Based Award held
by a Covered Employee or by an employee who in the reasonable judgment of the Committee may be a Covered Employee on the date of
payment, may be amended, nor may the Committee exercise any discretionary authority it may otherwise have under the Plan with respect
to a Qualified Performance-Based Award under the Plan, in any manner to waive the achievement of the applicable performance goal
based on Qualified Business Criteria or to increase the amount payable pursuant thereto or the value thereof, or otherwise in a
manner that would cause the Qualified Performance-Based Award to cease to qualify for the Section 162(m) Exemption.

 

11.6.   AWARD LIMITS.
Section 5.4 sets forth, with respect to any one 12-month period, (i) the maximum number of time-vesting Options or SARs that may
be granted to any one Participant, (i) the maximum amount that may be paid to any one Participant for Performance Awards payable
in cash or property other than Shares, and (iii) the maximum number of Shares that may be paid to any one Participant for Performance
Awards payable in Stock.

 

ARTICLE 12

DIVIDEND EQUIVALENTS

 

12.1.   GRANT OF
DIVIDEND EQUIVALENTS. The Committee is authorized to grant Dividend Equivalents with respect to Full-Value Awards granted hereunder,
subject to such terms and conditions as may be selected by the Committee. Dividend Equivalents shall entitle the Participant to
receive payments equal to ordinary cash dividends or distributions with respect to all or a portion of the number of Shares subject
to a Full-Value Award, as determined by the Committee. The Committee may provide that Dividend Equivalents (i) will be deemed to
have been reinvested in additional Shares or otherwise reinvested, or (ii) except in the case of Performance Awards, will be paid
or distributed to the Participant as accrued (in which case, such Dividend Equivalents must be paid or distributed no later than
the 15th day of the 3rd month following the later of (A) the calendar year in which the corresponding dividends were paid to stockholders,
or (B) the first calendar year in which the Participant’s right to such Dividends Equivalents is no longer subject to a substantial
risk of forfeiture). Unless otherwise provided by the Committee, Dividend Equivalents accruing on unvested Full-Value Awards shall,
as provided in the Award Certificate, either (i) be reinvested in the form of additional Shares, which shall be subject to the
same vesting provisions as provided for the host Award, or (ii) be credited by the Company to an account for the Participant and
accumulated without interest until the date upon which the host Award becomes vested, and any Dividend Equivalents accrued with
respect to forfeited Awards will be reconveyed to the Company without further consideration or any act or action by the Participant.

 

ARTICLE 13

STOCK OR OTHER STOCK-BASED AWARDS

 

13.1.   GRANT OF STOCK OR OTHER
STOCK-BASED AWARDS. The Committee is authorized, subject to limitations under applicable law, to grant to Participants such
other Awards that are payable in, valued in whole or in part by reference to, or otherwise based on or related to Shares, as deemed
by the Committee to be consistent with the purposes of the Plan, including without limitation Shares awarded purely as a “bonus”
and not subject to any restrictions or conditions, convertible or exchangeable debt securities, other rights convertible or exchangeable
into Shares, and Awards valued by reference to book value of Shares or the value of securities of or the performance of specified
Parents or Subsidiaries. The Committee shall determine the terms and conditions of such Awards.

 

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ARTICLE 14

PROVISIONS APPLICABLE TO AWARDS

 

14.1.   AWARD CERTIFICATES.
Each Award shall be evidenced by an Award Certificate. Each Award Certificate shall include such provisions, not inconsistent with
the Plan, as may be specified by the Committee.

 

14.2.   FORM OF PAYMENT FOR AWARDS.
At the discretion of the Committee, payment of Awards may be made in cash, Stock, a combination of cash and Stock, or any other
form of property as the Committee shall determine. In addition, payment of Awards may include such terms, conditions, restrictions
and/or limitations, if any, as the Committee deems appropriate, including, in the case of Awards paid in the form of Stock, restrictions
on transfer and forfeiture provisions. Further, payment of Awards may be made in the form of a lump sum, or in installments, as
determined by the Committee.

 

14.3.   LIMITS ON TRANSFER.
No right or interest of a Participant in any unexercised or restricted Award may be pledged, encumbered, or hypothecated to or
in favor of any party other than the Company or an Affiliate, or shall be subject to any lien, obligation, or liability of such
Participant to any other party other than the Company or an Affiliate. No unexercised or restricted Award shall be assignable or
transferable by a Participant other than by will or the laws of descent and distribution; provided, however, that that Nonstatutory
Stock Options may be transferred without consideration to members of a Participant’s immediate family (“Immediate Family
Members”), to trusts in which such Immediate Family Members have more than fifty percent (50%) of the beneficial interest,
to foundations in which such Immediate Family Members (or the Participant) control the management of assets, and to any other entity
(including limited partnerships and limited liability companies) in which the Immediate Family Members (or the Participant) own
more than fifty percent (50%) of the voting interest; and, provided, further, that the Committee may (but need not) permit other
transfers (other than transfers for value) where the Committee concludes that such transferability (i) does not result in accelerated
taxation, (ii) does not cause any Option intended to be an Incentive Stock Option to fail to be described in Code Section 422(b),
and (iii) is otherwise appropriate and desirable, taking into account any factors deemed relevant, including without limitation,
state or federal tax or securities laws applicable to transferable Awards.

 

14.4.   BENEFICIARIES. Notwithstanding
Section 14.3, a Participant may, in the manner determined by the Committee, designate a beneficiary to exercise the rights of the
Participant and to receive any distribution with respect to any Award upon the Participant’s death. A beneficiary, legal
guardian, legal representative, or other person claiming any rights under the Plan is subject to all terms and conditions of the
Plan and any Award Certificate applicable to the Participant, except to the extent the Plan and Award Certificate otherwise provide,
and to any additional restrictions deemed necessary or appropriate by the Committee. If no beneficiary has been designated or survives
the Participant, any payment due to the Participant shall be made to the Participant’s estate. Subject to the foregoing,
a beneficiary designation may be changed or revoked by a Participant, in the manner provided by the Company, at any time provided
the change or revocation is filed with the Committee.

 

    	- 23 -

    	 

    

 

14.5.   STOCK TRADING RESTRICTIONS.
All Stock issuable under the Plan is subject to any stop-transfer orders and other restrictions as the Committee deems necessary
or advisable to comply with federal or state securities laws, rules and regulations and the rules of any national securities exchange
or automated quotation system on which the Stock is listed, quoted, or traded. The Committee may place legends on any Stock certificate
or issue instructions to the transfer agent to reference restrictions applicable to the Stock.

 

14.6.   EFFECT OF A CHANGE IN CONTROL.
Except as otherwise provided in the Award Certificate or any special Plan document governing an Award, upon the occurrence of a
Change in Control, (i) all outstanding Options, SARs, and other Awards in the nature of rights that may be exercised shall become
fully exercisable, and (ii) all time-based vesting restrictions on outstanding Awards shall lapse. Except as otherwise provided
in the Award Certificate or any special Plan document governing an Award, upon the occurrence of a Change in Control, the target
payout opportunities attainable under all outstanding performance-based Awards shall be deemed to have been fully earned as of
the effective date of the Change in Control based upon an assumed achievement of all relevant performance goals at the "target"
level of performance as of the date of the Change in Control and there shall be pro-rata payout to Participants within thirty (30)
days following the effective date of the Change in Control based upon the length of time within the performance period that has
elapsed prior to the Change in Control.

 

14.7.   ACCELERATION FOR OTHER
REASONS. Regardless of whether an event has occurred as described in Section 14.6 above, the Committee may in its sole discretion
at any time determine that, upon the termination of service of a Participant for any reason, or the occurrence of a Change in Control,
all or a portion of such Participant’s Options or SARs shall become fully or partially exercisable, that all or a part of
the restrictions on all or a portion of the Participant’s outstanding Awards shall lapse, and/or that any performance-based
criteria with respect to any Awards held by that Participant shall be deemed to be wholly or partially satisfied, in each case,
as of such date as the Committee may, in its sole discretion, declare. The Committee may discriminate among Participants and among
Awards granted to a Participant in exercising its discretion pursuant to this Section 14.7.

 

14.8.   FORFEITURE
EVENTS. Awards under the Plan shall be subject to any compensation recoupment policy that the Company may adopt from time to
time that is applicable by its terms to the Participant. In addition, the Committee may specify in an Award Certificate 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 specified events, in addition to any otherwise applicable vesting or performance conditions
of an Award. Such events may include, but shall not be limited to, (i) termination of employment for cause, (ii) violation of material
Company or Affiliate policies, (iii) breach of noncompetition, confidentiality or other restrictive covenants that may apply to
the Participant, (iv) other conduct by the Participant that is detrimental to the business or reputation of the Company or any
Affiliate, or (v) a later determination that the vesting of, or amount realized from, a Performance Award was based on materially
inaccurate financial statements or any other materially inaccurate performance metric criteria, whether or not the Participant
caused or contributed to such material inaccuracy.

 

    	- 24 -

    	 

    

 

14.9.   SUBSTITUTE
AWARDS. The Committee may grant Awards under the Plan in substitution for stock and stock-based awards held by employees of
another entity who become employees of the Company or an Affiliate as a result of a merger or consolidation of the former employing
entity with the Company or an Affiliate or the acquisition by the Company or an Affiliate of property or stock of the former employing
corporation. The Committee may direct that the substitute awards be granted on such terms and conditions as the Committee considers
appropriate in the circumstances.

 

ARTICLE 15

CHANGES IN CAPITAL STRUCTURE

 

15.1.   MANDATORY
ADJUSTMENTS. In the event of a nonreciprocal transaction between the Company and its stockholders that causes the per-share
value of the Stock to change (including, without limitation, any stock dividend, stock split, spin-off, rights offering, or large
nonrecurring cash dividend), the authorization limits under Section 5.1 and 5.4 shall be adjusted proportionately, and the Committee
shall make such adjustments to the Plan and Awards as it deems necessary, in its sole discretion, to prevent dilution or enlargement
of rights immediately resulting from such transaction. Action by the Committee may include: (i) adjustment of the number and kind
of shares that may be delivered under the Plan; (ii) adjustment of the number and kind of shares subject to outstanding Awards;
(iii) adjustment of the exercise price of outstanding Awards or the measure to be used to determine the amount of the benefit payable
on an Award; and (iv) any other adjustments that the Committee determines to be equitable. Notwithstanding the foregoing, the Committee
shall not make any adjustments to outstanding Options or SARs that would constitute a modification or substitution of the stock
right under Treas. Reg. Sections 1.409A-1(b)(5)(v) that would be treated as the grant of a new stock right or change in the form
of payment for purposes of Code Section 409A. Without limiting the foregoing, in the event of a subdivision of the outstanding
Stock (stock-split), a declaration of a dividend payable in Shares, or a combination or consolidation of the outstanding Stock
into a lesser number of Shares, the authorization limits under Section 5.1 and 5.4 shall automatically be adjusted proportionately,
and the Shares then subject to each Award shall automatically, without the necessity for any additional action by the Committee,
be adjusted proportionately without any change in the aggregate purchase price therefor.

 

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15.2   DISCRETIONARY
ADJUSTMENTS. Upon the occurrence or in anticipation of any corporate event or transaction involving the Company (including,
without limitation, any merger, reorganization, recapitalization, combination or exchange of shares, or any transaction described
in Section 15.1), the Committee may, in its sole discretion, provide (i) that Awards will be settled in cash rather than Stock,
(ii) that Awards will become immediately vested and non-forfeitable and exercisable (in whole or in part) and will expire after
a designated period of time to the extent not then exercised, (iii) that Awards will be assumed by another party to a transaction
or otherwise be equitably converted or substituted in connection with such transaction, (iv) that outstanding Awards may be settled
by payment in cash or cash equivalents equal to the excess of the Fair Market Value of the underlying Stock, as of a specified
date associated with the transaction, over the exercise or base price of the Award, (v) that performance targets and performance
periods for Performance Awards will be modified, consistent with Code Section 162(m) where applicable, or (vi) any combination
of the foregoing. The Committee’s determination need not be uniform and may be different for different Participants whether
or not such Participants are similarly situated.

 

15.3   GENERAL.
Any discretionary adjustments made pursuant to this Article 15 shall be subject to the provisions of Section 16.2. To the extent
that any adjustments made pursuant to this Article 15 cause Incentive Stock Options to cease to qualify as Incentive Stock Options,
such Options shall be deemed to be Nonstatutory Stock Options.

 

ARTICLE 16

AMENDMENT, MODIFICATION AND TERMINATION

 

16.1.   AMENDMENT,
MODIFICATION AND TERMINATION. The Board or the Committee may, at any time and from time to time, amend, modify or terminate
the Plan without stockholder approval; provided, however, that if an amendment to the Plan would, in the reasonable opinion of
the Board or the Committee, constitute a material change requiring stockholder approval under applicable laws, policies or regulations
or the applicable listing or other requirements of an Exchange, then such amendment shall be subject to stockholder approval; and
provided, further, that the Board or Committee may condition any other amendment or modification on the approval of stockholders
of the Company for any reason, including by reason of such approval being necessary or deemed advisable (i) to comply with the
listing or other requirements of an Exchange, or (ii) to satisfy any other tax, securities or other applicable laws, policies or
regulations.

 

16.2.   AWARDS PREVIOUSLY GRANTED.
At any time and from time to time, the Committee may amend, modify or terminate any outstanding Award without approval of the Participant;
provided, however:

 

		(a)	Subject to the terms of the applicable Award Certificate, such amendment, modification or termination
shall not, without the Participant’s consent, reduce or diminish the value of such Award determined as if the Award had been
exercised, vested, cashed in or otherwise settled on the date of such amendment or termination (with the per-share value of an
Option or SAR for this purpose being calculated as the excess, if any, of the Fair Market Value as of the date of such amendment
or termination over the exercise or base price of such Award);

 

		(b)	The original term of an Option or SAR may not be extended without the prior approval of the stockholders
of the Company;

 

    	- 26 -

    	 

    

 

		(c)	Except as otherwise provided in Section 15.1, the exercise price of an Option or base price of
a SAR may not be reduced, directly or indirectly, without the prior approval of the stockholders of the Company; and

 

		(d)	No termination, amendment, or modification of the Plan shall adversely affect any Award previously
granted under the Plan, without the written consent of the Participant affected thereby. An outstanding Award shall not be deemed
to be “adversely affected” by a Plan amendment if such amendment would not reduce or diminish the value of such Award
determined as if the Award had been exercised, vested, cashed in or otherwise settled on the date of such amendment (with the per-share
value of an Option or SAR for this purpose being calculated as the excess, if any, of the Fair Market Value as of the date of such
amendment over the exercise or base price of such Award).

 

16.3.   COMPLIANCE
AMENDMENTS. Notwithstanding anything in the Plan or in any Award Certificate to the contrary, the Board may amend the Plan
or an Award Certificate, to take effect retroactively or otherwise, as deemed necessary or advisable for the purpose of conforming
the Plan or Award Certificate to any present or future law relating to plans of this or similar nature (including, but not limited
to, Section 409A of the Code), and to the administrative regulations and rulings promulgated thereunder. By accepting an Award
under this Plan, a Participant agrees to any amendment made pursuant to this Section 16.3 to any Award granted under the Plan without
further consideration or action.

 

ARTICLE 17

GENERAL PROVISIONS

 

17.1.   RIGHTS
OF PARTICIPANTS.

 

		(a)	No Participant or any Eligible Participant shall have any claim to be granted any Award under the
Plan. Neither the Company, its Affiliates nor the Committee is obligated to treat Participants or Eligible Participants uniformly,
and determinations made under the Plan may be made by the Committee selectively among Eligible Participants who receive, or are
eligible to receive, Awards (whether or not such Eligible Participants are similarly situated).

 

		(b)	Nothing in the Plan, any Award Certificate or any other document or statement made with respect
to the Plan, shall interfere with or limit in any way the right of the Company or any Affiliate to terminate any Participant’s
employment or status as an officer, or any Participant’s service as a director or consultant, at any time, nor confer upon
any Participant any right to continue as an employee, officer, director or consultant of the Company or any Affiliate, whether
for the duration of a Participant’s Award or otherwise.

 

		(c)	Neither an Award nor any benefits arising under this Plan shall constitute an employment contract
with the Company or any Affiliate and, accordingly, subject to Article 16, this Plan and the benefits hereunder may be terminated
at any time in the sole and exclusive discretion of the Committee without giving rise to any liability on the part of the Company
or an of its Affiliates.

 

    	- 27 -

    	 

    

 

		(d)	No Award gives a Participant any of the rights of a stockholder of the Company unless and until
Shares are in fact issued to such person in connection with such Award.

 

17.2.   WITHHOLDING. The Company
or any Affiliate shall have the authority and the right to deduct or withhold, or require a Participant to remit to the Company
or such Affiliate, an amount sufficient to satisfy federal, state, and local taxes (including the Participant’s FICA obligation)
required by law to be withheld with respect to any exercise, lapse of restriction or other taxable event arising as a result of
the Plan. The obligations of the Company under the Plan will be conditioned on such payment or arrangements and the Company or
such Affiliate will, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise
due to the Participant. Unless otherwise determined by the Committee at the time the Award is granted or thereafter, any such withholding
requirement may be satisfied, in whole or in part, by withholding from the Award Shares having a Fair Market Value on the date
of withholding equal to the minimum amount (and not any greater amount) required to be withheld for tax purposes, all in accordance
with such procedures as the Committee establishes. All such elections shall be subject to any restrictions or limitations that
the Committee, in its sole discretion, deems appropriate.

 

17.3.   SPECIAL
PROVISIONS RELATED TO SECTION 409A OF THE CODE.

 

		(a)	General. It is intended that the payments and benefits provided under the Plan and any Award
shall either be exempt from the application of, or comply with, the requirements of Section 409A of the Code. The Plan and all
Award Certificates shall be construed in a manner that effects such intent. Nevertheless, the tax treatment of the benefits provided
under the Plan or any Award is not warranted or guaranteed. Neither the Company, its Affiliates nor their respective directors,
officers, employees or advisers (other than in his or her capacity as a Participant) shall be held liable for any taxes, interest,
penalties or other monetary amounts owed by any Participant or other taxpayer as a result of the Plan or any Award.

 

		(b)	Definitional Restrictions. Notwithstanding anything in the Plan or in any Award Certificate
to the contrary, to the extent that any amount or benefit that would constitute non-exempt “deferred compensation”
for purposes of Section 409A of the Code (“Non-Exempt Deferred Compensation”) would otherwise be payable or distributable,
or a different form of payment (e.g., lump sum or installment) of such Non-Exempt Deferred Compensation would be effected, under
the Plan or any Award Certificate by reason of the occurrence of a Change in Control, or the Participant’s Disability or
separation from service, such Non-Exempt Deferred Compensation will not be payable or distributable to the Participant, and/or
such different form of payment will not be effected, by reason of such circumstance unless the circumstances giving rise to such
Change in Control, Disability or separation from service meet any description or definition of “change in control event”,
“disability” or “separation from service”, as the case may be, in Section 409A of the Code and applicable
regulations (without giving effect to any elective provisions that may be available under such definition). This provision does
not prohibit the vesting of any Award upon a Change in Control, Disability or separation from service, however defined. If this
provision prevents the payment or distribution of any amount or benefit, or the application of a different form of payment of any
amount or benefit, such payment or distribution shall be made at the time and in the form that would have applied absent the Change
in Control, Disability or separation from service as applicable.

 

    	- 28 -

    	 

    

 

		(c)	Allocation among Possible Exemptions. If any one or more Awards granted under the Plan to
a Participant could qualify for any separation pay exemption described in Treas. Reg. Section 1.409A-1(b)(9), but such Awards in
the aggregate exceed the dollar limit permitted for the separation pay exemptions, the Company (acting through the Committee or
the Chief Financial Officer) shall determine which Awards or portions thereof will be subject to such exemptions.

 

		(d)	Six-Month Delay in Certain Circumstances. Notwithstanding anything in the Plan or in any
Award Certificate to the contrary, if any amount or benefit that would constitute Non-Exempt Deferred Compensation would otherwise
be payable or distributable under this Plan or any Award Certificate by reason of a Participant’s separation from service
during a period in which the Participant is a Specified Employee (as defined below), then, subject to any permissible acceleration
of payment by the Committee under Treas. Reg. Section 1.409A-3(j)(4)(ii) (domestic relations order), (j)(4)(iii) (conflicts of
interest), or (j)(4)(vi) (payment of employment taxes):

 

		(i)	the amount of such Non-Exempt Deferred Compensation that would otherwise be payable during the
six-month period immediately following the Participant’s separation from service will be accumulated through and paid or
provided on the first day of the seventh month following the Participant’s separation from service (or, if the Participant
dies during such period, within 30 days after the Participant's death) (in either case, the “Required Delay Period”);
and

 

		(ii)	the normal payment or distribution schedule for any remaining payments or distributions will resume
at the end of the Required Delay Period.

 

For purposes of this Plan, the
term “Specified Employee” has the meaning given such term in Code Section 409A and the final regulations thereunder;
provided, however, that, as permitted in such final regulations, the Company’s Specified Employees and its application of
the six-month delay rule of Code Section 409A(a)(2)(B)(i) shall be determined in accordance with rules adopted by the Board or
any committee of the Board, which shall be applied consistently with respect to all nonqualified deferred compensation arrangements
of the Company, including this Plan.

 

    	- 29 -

    	 

    

 

		(e)	Installment Payments. If, pursuant to an Award, a Participant is entitled to a series of
installment payments, such Participant’s right to the series of installment payments shall be treated as a right to a series
of separate payments and not to a single payment. For purposes of the preceding sentence, the term “series of installment
payments” has the meaning provided in Treas. Reg. Section 1.409A-2(b)(2)(iii) (or any successor thereto).

 

		(f)	Timing of Release of Claims. Whenever an Award conditions a payment or benefit on the Participant’s
execution and non-revocation of a release of claims, such release must be executed and all revocation periods shall have expired
within 60 days after the date of termination of the Participant’s employment; failing which such payment or benefit shall
be forfeited. If such payment or benefit is exempt from Section 409A of the Code, the Company may elect to make or commence payment
at any time during such 60-day period. If such payment or benefit constitutes Non-Exempt Deferred Compensation, then, subject to
subsection (c) above, (i) if such 60-day period begins and ends in a single calendar year, the Company may make or commence payment
at any time during such period at its discretion, and (ii) if such 60-day period begins in one calendar year and ends in the next
calendar year, the payment shall be made or commence during the second such calendar year (or any later date specified for such
payment under the applicable Award), even if such signing and non-revocation of the release occur during the first such calendar
year included within such 60-day period. In other words, a Participant is not permitted to influence the calendar year of payment
based on the timing of signing the release.

 

		(g)	Permitted Acceleration. The Company shall have the sole authority to make any accelerated
distribution permissible under Treas. Reg. section 1.409A-3(j)(4) to Participants of deferred amounts, provided that such distribution(s)
meets the requirements of Treas. Reg. section 1.409A-3(j)(4).

 

17.4.   UNFUNDED
STATUS OF AWARDS. The Plan is intended to be an “unfunded” plan for incentive and deferred compensation. With respect
to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award Certificate shall
give the Participant any rights that are greater than those of a general creditor of the Company or any Affiliate. In its sole
discretion, the Committee may authorize the creation of grantor trusts or other arrangements to meet the obligations created under
the Plan to deliver Shares or payments in lieu of Shares or with respect to Awards. This Plan is not intended to be subject to
ERISA.

 

17.5.   RELATIONSHIP TO OTHER BENEFITS.
No payment under the Plan shall be taken into account in determining any benefits under any pension, retirement, savings, profit
sharing, group insurance, welfare or benefit plan of the Company or any Affiliate unless provided otherwise in such other plan.
Nothing contained in the Plan will prevent the Company from adopting other or additional compensation arrangements, subject to
stockholder approval if such approval is required; and such arrangements may be either generally applicable or applicable only
in specific cases.

 

    	- 30 -

    	 

    

 

17.6.   EXPENSES. The expenses
of administering the Plan shall be borne by the Company and its Affiliates.

 

17.7.   TITLES AND HEADINGS.
The titles and headings of the Sections in the Plan are for convenience of reference only, and in the event of any conflict, the
text of the Plan, rather than such titles or headings, shall control.

 

17.8.   GENDER AND NUMBER.
Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine; the plural shall
include the singular and the singular shall include the plural.

 

17.9.   FRACTIONAL SHARES.
No fractional Shares shall be issued and the Committee shall determine, in its discretion, whether cash shall be given in lieu
of fractional Shares or whether such fractional Shares shall be eliminated by rounding up or down.

 

17.10.   GOVERNMENT AND OTHER REGULATIONS.

 

		(a)	Notwithstanding any other provision of the Plan, no Participant who acquires Shares pursuant to
the Plan may, during any period of time that such Participant is an affiliate of the Company (within the meaning of the rules and
regulations of the Securities and Exchange Commission under the 1933 Act), sell such Shares, unless such offer and sale is made
(i) pursuant to an effective registration statement under the 1933 Act, which is current and includes the Shares to be sold, or
(ii) pursuant to an appropriate exemption from the registration requirement of the 1933 Act, such as that set forth in Rule 144
promulgated under the 1933 Act.

 

		(b)	Notwithstanding any other provision of the Plan, if at any time the Committee shall determine that
the registration, listing or qualification of the Shares covered by an Award upon any Exchange or under any foreign, federal, state
or local law or practice, or the consent or approval of any governmental regulatory body, is necessary or desirable as a condition
of, or in connection with, the granting of such Award or the purchase or receipt of Shares thereunder, no Shares may be purchased,
delivered or received pursuant to such Award unless and until such registration, listing, qualification, consent or approval shall
have been effected or obtained free of any condition not acceptable to the Committee. Any Participant receiving or purchasing Shares
pursuant to an Award shall make such representations and agreements and furnish such information as the Committee may request to
assure compliance with the foregoing or any other applicable legal requirements. The Company shall not be required to issue or
deliver any certificate or certificates for Shares under the Plan prior to the Committee’s determination that all related
requirements have been fulfilled. The Company shall in no event be obligated to register any securities pursuant to the 1933 Act
or applicable state or foreign law or to take any other action in order to cause the issuance and delivery of such certificates
to comply with any such law, regulation or requirement.

 

    	- 31 -

    	 

    

 

17.11.   GOVERNING LAW. To
the extent not governed by federal law, the Plan and all Award Certificates shall be construed in accordance with and governed
by the laws of the State of Delaware.

 

17.12.   SEVERABILITY. In the
event that any provision of this Plan is found to be invalid or otherwise unenforceable under any applicable law, such invalidity
or unenforceability will not be construed as rendering any other provisions contained herein as invalid or unenforceable, and all
such other provisions will be given full force and effect to the same extent as though the invalid or unenforceable provision was
not contained herein.

 

17.13.   NO LIMITATIONS
ON RIGHTS OF COMPANY. The grant of any Award shall not in any way affect the right or power of the Company to make adjustments,
reclassification or changes in its capital or business structure or to merge, consolidate, dissolve, liquidate, sell or transfer
all or any part of its business or assets. The Plan shall not restrict the authority of the Company, for proper corporate purposes,
to draft or assume awards, other than under the Plan, to or with respect to any person. If the Committee so directs, the Company
may issue or transfer Shares to an Affiliate, for such lawful consideration as the Committee may specify, upon the condition or
understanding that the Affiliate will transfer such Shares to a Participant in accordance with the terms of an Award granted to
such Participant and specified by the Committee pursuant to the provisions of the Plan.

 

The foregoing is hereby
acknowledged as being the TG Therapeutics, Inc. Amended and Restated 2012 Incentive Plan as adopted by the Board on May 14, 2012.

 

	TG THERAPEUTICS, INC.	 
	 	 	 
	By:	/s/ Sean Power	 
	 	 	 
	Its:	CFO, Secretary and Treasurer	 

 

    	- 32 -

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