Document:

Exhibit 10.2

 

PRIORITY TECHNOLOGY HOLDINGS, INC.

2018 EQUITY INCENTIVE PLAN

 

		1.	Purpose; Establishment.

 

The Priority Technology
Holdings, Inc. 2018 Equity Incentive Plan (the “Plan”) is intended to promote the interests of the Company
and its stockholders by providing employees, directors and consultants of the Company and its affiliates with appropriate incentives
and rewards to encourage them to enter into and continue in the employ or service of the Company and its affiliates and to acquire
a proprietary interest in the long-term success of the Company.

 

		2.	Definitions.

 

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

 

“Affiliate”
shall mean any entity controlled by, controlling or under common control with the Company.

 

“Award”
shall mean any Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Stock Bonus or Other Award granted pursuant
to the terms of the Plan.

 

“Award
Agreement” shall mean the agreement, instrument or documentation evidencing an Award.

 

“Base Price”
shall have the meaning provided in Section 8(a) of the Plan.

 

“Board”
shall mean the Board of Directors of the Company.

 

“Cause”
shall mean, unless otherwise specified in the Participant’s Award Agreement: (a) in the case where there is no employment
agreement, consulting agreement, change in control agreement or similar agreement in effect between the Company or any of its Affiliates
and the Participant at the time of the grant of the Award (or where there is such an agreement but it does not define “cause”
(or words of like import)), (i) the Participant’s failure (other than as a result of incapacity due to mental or physical
impairment) to perform his or her material duties for the Company or the Affiliate by which the Participant is employed or retained
to the reasonable satisfaction of the Administrator, (ii) conduct by the Participant in connection with the Participant’s
duties that is fraudulent or constitutes willful misconduct or gross negligence or is otherwise materially injurious to the Company
or any of its Affiliates, (iii) a material breach by the Participant of the Participant’s fiduciary duty or duty of loyalty
to the Company or any of its Affiliates which demonstrably results in financial harm to the Company or Affiliate, (iv) the Participant’s
misappropriation of funds or other property of the Company or any of its Affiliates or other acts of dishonesty resulting or intending
to result in personal gain or enrichment at the expense of the Company or any Affiliate, (v) the plea of guilty by the Participant
to or conviction of the Participant for the commission of a felony or a misdemeanor (excluding petty offenses) involving fraud,
dishonesty or moral turpitude, (vi) the Participant’s breach of his or her restrictive covenant obligations, or (vii) the
conduct by the Participant which is a material violation of an applicable policy of the Company or any of its Affiliates; or (ii)
in the case where there is an employment agreement, consulting agreement, change in control agreement or similar agreement in effect
between the Company or any of its Affiliates and the Participant at the time of the grant of the Award that defines “cause”
(or words of like import), “cause” as defined under such agreement. Notwithstanding the foregoing, with respect to
a Director, “Cause” shall mean, unless otherwise specified in the Director’s Award Agreement, an act or failure
to act that constitutes cause for removal of a director under applicable Delaware law.

 

“Change
in Control” shall mean:

 

(a)       Any
Person becomes the beneficial owner (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of either
(i) the then-outstanding shares of Company Stock (the “Outstanding Company Common Stock”) or (ii) the
combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of Directors
(the “Outstanding Company Voting Securities”); provided that, for purposes of this clause (a),
the following acquisitions shall not constitute a Change in Control: (A) any acquisition directly from the Company, (B) any acquisition
by the Company, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any
of its Affiliates, or (D) any acquisition pursuant to a transaction that complies with clause (c)(i), (c)(ii) and (c)(iii);

 

     

     

    

  

(b)       During
any 12-month period beginning on or after the Effective Date, individuals who, at the beginning of such period, constitute the
Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided
that, any individual becoming a Director whose election, or nomination for election by the Company’s stockholders, was approved
by a vote of at least a majority of the Directors then comprising the Incumbent Board shall be considered as though such individual
was a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs
as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or
threatened solicitation of proxies or consents by or on behalf of a Person other than the Board;

 

(c)       Consummation
of a reorganization, merger, statutory share exchange or consolidation or similar transaction involving the Company or any of its
subsidiaries, a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of as-sets
or securities of another entity by the Company or any of its subsidiaries (each, a “Business Combination”),
in each case unless, following such Business Combination, (i) all or substantially all of the individuals and entities that were
the beneficial owners of the Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately prior to
such Business Combination beneficially own, directly or indirectly, more than 50% of the then-outstanding shares of common stock
(or, for a non-corporate entity, equivalent securities) and the combined voting power of the then-outstanding voting securities
entitled to vote generally in the election of directors (or, for a non-corporate entity, equivalent governing body), as the case
may be, of the entity resulting from such Business Combination (including, without limitation, an entity that, as a result of such
transaction, owns the Company or all or substantially all of the Company’s assets either directly or through one or more
subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding
Company Common Stock and the Outstanding Company Voting Securities, as the case may be, (ii) no Person (excluding any entity resulting
from such Business Combination or any employee benefit plan (or related trust) of the Company or such entity resulting from such
Business Combination) beneficially owns, directly or indirectly, 50% or more of, respectively, the then-outstanding shares of common
stock (or, for a non-corporate entity, equivalent securities) of the entity resulting from such Business Combination or the combined
voting power of the then-outstanding voting securities of such entity, except to the extent that such ownership existed prior to
the Business Combination, and (iii) at least a majority of the members of the board of directors (or, for a non-corporate entity,
equivalent governing body) of the entity resulting from such Business Combination were members of the Incumbent Board at the time
of the execution of the initial agreement or of the action of the Board providing for such Business Combination; or

 

(d)       Approval
by the stockholders of the Company of a complete liquidation or dissolution of the Company.

 

“Code”
shall mean the Internal Revenue Code of 1986, as amended from time to time, and any regulations promulgated thereunder. Reference
to any specific section of the Code shall be deemed to include such regulations and guidance, as well as any successor provision
of the Code.

 

“Committee”
shall mean a committee of the Board, which shall consist of two or more persons, each of whom shall qualify as a “non-employee
director” within the meaning of Rule 16b-3 of the Exchange Act and is “independent director” within the rules
of the NASDAQ Stock Market; provided that, if the appointed Committee does not meet such requirements, such noncompliance
shall not affect the validity of the Awards granted by, the interpretations of, or other actions by, the Committee.

 

“Company”
shall mean Priority Technology Holdings, Inc., a Delaware corporation.

 

“Company
Stock” shall mean the common stock of the Company, par value $0.01 per share.

 

“Consultant”
shall mean any consultant or adviser to the Company or any of its Affiliates who is a natural person.

 

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“Director”
shall mean a member of the Board.

 

“Effective
Date” shall have the meaning provided in Section 22 of the Plan.

 

“Eligible
Individual” means a Director, Employee or Consultant, and any prospective Employee or Consultant who has accepted
an offer of employment or consultancy from the Company or any of its Affiliates.

 

“Employee”
shall mean any officer or other employee of the Company or any of its Affiliates.

 

“Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended from time to time. Reference to any specific section
of the Exchange Act shall be deemed to include such regulations and guidance issued thereunder, as well as any successor provision
of the Exchange Act.

 

“Exercise
Price” shall have the meaning provided in Section 7(b) of the Plan.

 

“Fair Market
Value” shall mean, with respect to a share of Company Stock, on a particular date (a) the closing price of Company
Stock as reported by the NASDAQ Stock Market (or other national securities exchange or national market system as may at the applicable
time be the principal market for the Common Stock), or if there is no trading of Company Stock on such date, such price on the
next preceding date on which there was trading in of Company Stock or (b) if the shares of Company Stock are then traded in an
over-the-counter market, the average of the closing bid and asked prices for the shares of Company Stock in such over-the-counter
market for the last preceding date on which there was a sale of such Stock in such market, or (c) if the shares of Company Stock
are not then listed on a national securities exchange or national market system, or are not then traded in an over-the-counter
market, such value as the Committee, in its discretion, shall determine in good faith using a reasonable method in accordance with
Section 409A or Section 422 of the Code, as applicable.

 

“Incentive
Stock Option” shall mean an Option that qualifies as an “incentive stock option” within the meaning of
Section 422 of the Code, and which is designated in the applicable Award Agreement as an Incentive Stock Option.

 

“Nonqualified
Stock Option” shall mean an Option other than an Incentive Stock Option.

 

“Option”
shall mean an Award granted pursuant to Section 7 of an option to purchase shares of Company Stock.

 

“Other
Award” shall mean an Award granted pursuant to Section 12 hereof valued in whole or in part by reference to, or otherwise
based on, Company Stock, including but not limited to unrestricted stock and dividend equivalents.

 

“Participant”
shall mean an Eligible Individual to whom an Award is granted pursuant to the Plan.

 

“Person”
shall mean any individual, entity or group within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act.

 

“Restricted
Stock” shall mean an Award granted pursuant to Section 9 of a share of Company Stock that is subject to restrictions
as set forth in Section 9(d).

 

“Restricted
Stock Unit” shall mean an Award granted pursuant to Section 10 of a right to receive the Fair Market Value of a share
of Company Stock, paid in either Company Stock or cash.

 

“Securities
Act” shall mean the Securities Act of 1933, as amended from time to time. Reference to any specific section of the
Securities Act shall be deemed to include such regulations and guidance issued thereunder, as well as any successor provision of
the Securities Act.

 

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“Stock
Appreciation Right” shall mean an Award granted pursuant to Section 8 of a right to receive, upon exercise of the
right, the applicable amounts as described in Section 8(c).

 

“Stock
Bonus” shall mean an Award granted pursuant to Section 11 of a bonus payable in shares of Company Stock.

 

“Termination
of Service” shall mean, except as otherwise provided in an Award Agreement: (a) with respect to an Employee, a termination
of employment from the Company and its Affiliates; (b) with respect to a Consultant, that the Consultant is no longer acting as
a Consultant to the Company or any of its Affiliates; and (c) with respect to a Director, that the Director is no longer serving
as a Director. Unless otherwise determined by the Committee: (i) if a Participant’s employment, consultancy or directorship
with the Company and its Affiliates terminates but such Participant continues to provide services to the Company and its Affiliates
in a different capacity as an Eligible Individual, such change in status shall not be deemed a Termination of Service, and (ii)
a Participant employed by, or performing services for, an entity that is an Affiliate of the Company shall be deemed to incur a
Termination of Service if such entity ceases to be an Affiliate of the Company for any reason (including, without limitation, as
a result of a public offering, or a spinoff or sale by the Company) unless the Participant immediately thereafter becomes an Employee,
Director or Consultant of the Company or an Affiliate of the Company. A Participant’s approved absence or leave, or transfer
among the Company and its Affiliates, shall not be considered a Termination of Service. With respect to any Award that constitutes
a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Code, a “Termination of
Service” for purposes of payment or delivery of an Award shall mean a “separation from service” as defined under
Section 409A of the Code.

 

		3.	Stock Subject to the Plan.

 

(a)       Shares
Available for Awards; Individual Limitations. The maximum number of shares of Company Stock reserved for issuance under the
Plan shall be 10% of our Common Stock outstanding immediately following consummation of the Business Combination shares (subject
to adjustment as provided by Section 3(b)); provided that no more than 66,860 shares of Company Stock may be granted as
Incentive Stock Options. Any shares of Company Stock granted in connection with Options and Stock Appreciation Rights shall be
counted against this limit as one share of Company Stock for every one Option or Stock Appreciation Right awarded. Such shares
of Company Stock may be authorized but unissued shares of Company Stock or authorized and issued shares of Company Stock held in
the Company’s treasury.

 

(b)       Adjustment
for Change in Capitalization.

 

(i)       
In the event of a merger, consolidation, acquisition of property or shares, stock rights offering, liquidation, or similar event
affecting the Company or any of its subsidiaries (each, a “Corporate Event”) or a stock dividend, stock
split, reverse stock split, separation, spinoff, reorganization, extraordinary dividend of cash or other property, share combination,
or recapitalization or similar event affecting the capital structure of the Company (each, a “Share Change”),
the Committee or the Board shall make such equitable and appropriate substitutions or adjustments to (A) the aggregate number and
kind of shares of Company Stock or other securities reserved for issuance and delivery under the Plan, (B) the various maximum
limitations set forth in Section 3(a) upon certain types of Awards and upon the grants to individuals of certain types of Awards,
(C) the number and kind of shares of Company Stock or other securities subject to outstanding Awards and (D) the Exercise Price
or Base Price of outstanding Awards.

 

(ii)       In
the case of Corporate Events, such adjustments may include, without limitation, (A) the cancellation of outstanding Awards in exchange
for payments of cash, securities or other property or a combination thereof having an aggregate value equal to the value of such
Awards, as determined by the Committee or the Board, in its discretion (it being understood that in the case of a Corporate Event
with respect to which stockholders receive consideration other than publicly-traded equity securities of the ultimate surviving
entity, any such determination by the Committee that the value of an Option or Stock Appreciation Right shall for this purpose
be deemed to equal the excess, if any, of the value of the consideration being paid for each share of Company Stock pursuant to
such Corporate Event over the Exercise Price of such Option or the Base Price of such Stock Appreciation Right shall conclusively
be deemed valid), (B) the substitution of securities or other property (including, without limitation, cash or other securities
of the Company and securities of entities other than the Company) for the shares of Company Stock subject to outstanding Awards
and (C) in connection with a sale of a subsidiary, Affiliate, or division, arranging for the assumption of Awards, or replacement
of Awards with new awards based on securities or other property (including, without limitation, other securities of the Company
and securities of entities other than the Company), by the affected subsidiary, Affiliate, or division or by the entity that controls
such subsidiary, Affiliate, or division following such Corporate Event (as well as any corresponding adjustments to Awards that
remain based upon Company Stock).

 

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(iii)      The
Committee may, in its discretion, adjust any performance-based vesting conditions applicable to any Awards to reflect any unusual
or non-recurring events and other extraordinary items, impact of charges for restructurings, discontinued operations and the cumulative
effects of accounting or tax changes, each as defined by generally accepted accounting principles or as identified in the Company’s
financial statements, notes to the financial statements, management’s discussion and analysis or other Company filings with
the Securities and Exchange Commission. If the Committee determines that a change in the business, operations, corporate structure
or capital structure of the Company or the applicable subsidiary, division or other operational unit of, or the manner in which
any of the foregoing conducts its business, or other events or circumstances render any performance-based vesting conditions to
be unsuitable, the Committee may modify such conditions or the related minimum acceptable level of achievement, in whole or in
part, as the Committee deems appropriate and equitable.

 

(c)       Reuse
of Shares. If any shares of Company Stock subject to an Award are forfeited, cancelled, exchanged or surrendered, or if an
Award otherwise terminates or expires without the issuance or distribution of shares of Company Stock to the Participant, the shares
of Company Stock with respect to such Award shall, to the extent of any such forfeiture, cancellation, exchange, surrender, termination
or expiration, again be available for Awards under the Plan. Notwithstanding the foregoing, shares of Company Stock that are exchanged
by a Participant or withheld by the Company as full or partial payment in connection with any Award under the Plan, as well as
any shares of Company Stock exchanged by a Participant or withheld by the Company or any Affiliate to satisfy the tax withholding
obligations related to any Award under the Plan, shall be available for subsequent Awards under the Plan, and notwithstanding that
a Stock Appreciation Right is settled by the delivery of a net number of shares of Company Stock, the full number of shares of
Company Stock underlying such Stock Appreciation Right shall not be available for subsequent Awards under the Plan. To the extent
an Award is paid or settled in cash, the number of shares of Company Stock with respect to which such payment or settlement is
made shall again be available for grants of Awards pursuant to the Plan. Shares of Company Stock underlying Awards that can only
be settled in cash shall not be counted against the aggregate number of shares of Company Stock available for Awards under the
Plan.

 

		4.	Administration of the Plan.

 

(a)       The
Plan shall be administered by the Committee. The Committee shall have the following authority, to exercise in its discretion, subject
to and not inconsistent with the express provisions of the Plan: to administer the Plan and to exercise all the powers and authorities
either specifically granted to it under the Plan or necessary or advisable in the administration of the Plan, including, without
limitation: the authority to grant Awards; to select the Eligible Individuals to whom Awards may from time to time be granted and
the time or times at which Awards shall be granted; to determine the type and number of Awards to be granted, the number of shares
of Company Stock or cash or other property to which an Award may relate and the terms, conditions, restrictions and performance
criteria relating to any Award; to determine whether, to what extent, and under what circumstances an Award may be settled, cancelled,
forfeited, exchanged, or surrendered; to determine whether an Award may be settled in cash and/or shares of the Company; to waive
any of the terms, conditions, restrictions and performance criteria of any Award, including to accelerate the vesting or lapse
of restrictions of any outstanding Award, based in each case on such considerations as the Committee, in its discretion, determines;
to construe and interpret the Plan and any Award; to prescribe, amend and rescind rules and regulations relating to the Plan; to
determine the terms and provisions of Award Agreements; and to make all other determinations that it deems necessary or advisable
for the administration of the Plan. The Committee may, in its discretion, without amendment to the Plan, (i) accelerate the date
on which any Option or Stock Appreciation Right becomes exercisable, (ii) waive or amend the operation of Plan provisions respecting
exercise after Termination of Service; provided that the term of an Option or Stock Appreciation Right may not be extended
beyond ten years from the date of grant or the original term of the Option or Stock Appreciation Right, if less. Notwithstanding
anything in the Plan to the contrary, the powers and authority of the Committee shall be exercised by the Board in the case of
Awards made to non-employee Directors.

 

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(b)       The
Committee’s interpretation of the Plan, any Awards granted pursuant to the Plan or any Award Agreement and all decisions
and determinations by the Committee with respect to the Plan shall be final, binding, and conclusive on all persons, including
the Company, its stockholders, Eligible Individuals and Participants, and their estates and beneficiaries. Notwithstanding any
provision of the Plan or any Award Agreement to the contrary, any discretionary authority provided or invested in the Committee
or the Company (or to Persons who are delegated such authority pursuant to Section 4(c)) is intended to be, and shall be deemed
to be, exercised in the sole and absolute discretion of the Committee or the Company (or to Persons who are delegated such authority
pursuant to Section 4(c)), respectively.

 

(c)       To
the extent permitted by applicable law or the rules of any securities exchange or automated quotation system on which the shares
of Company Stock are listed, quoted or traded, the Board or Committee may from time to time delegate to a committee of one or
more members of the Board, or to the Chief Executive Officer of the Company, the authority to grant or amend Awards or to take
other administrative actions pursuant to this Section 4; provided that, in no event shall such individuals be delegated
the authority to grant Awards to, or amend Awards held by, (i) individuals who are subject to Section 16 of the Exchange Act,
or (ii) officers of the Company (or Directors) to whom authority to grant or amend Awards has been delegated hereunder; provided further, that any delegation of administrative authority shall only be permitted to the extent it is permissible under
applicable securities laws or the rules of any securities exchange or automated quotation system on which the shares of Company
Stock are listed, quoted or traded. Any delegation hereunder shall be subject to the restrictions and limits that the Board or
Committee specifies at the time of such delegation, and the Board or Committee, as the case may be, may at any time rescind the
authority so delegated or appoint a new delegatee.

 

		5.	Eligibility.

 

Eligible Individuals
that the Committee (or, in the case of non-employee Directors, the Board) shall select, from time to time, shall be eligible to
receive Awards pursuant to the Plan.

 

		6.	Awards Under the Plan; Award Agreement.

 

The Committee may grant
Awards in such amounts and with such terms and conditions as the Committee shall determine, subject to the provisions of the Plan.
Each Award granted under the Plan (except an unconditional Stock Bonus) shall be evidenced by an Award Agreement which shall contain
such provisions as the Committee may in its discretion deem necessary or desirable and which are not in conflict with the terms
of the Plan. By accepting an Award, a Participant shall be deemed to agree that the Award shall be subject to all of the terms
and provisions of the Plan and the applicable Award Agreement.

 

		7.	Options.

 

(a)       Identification
of Options. Unless an Option is identified in the applicable Award Agreement as an Incentive Stock Option, the Option shall
be a Nonqualified Stock Option. All Options shall be non-transferable, except by will or the laws of descent and distribution or
except as otherwise determined by the Committee for estate planning purposes with respect to a Nonqualified Stock Option.

 

(b)       Exercise
Price. Each Award Agreement evidencing an Option shall set forth the amount per share (the “Exercise Price”)
to be paid by the Participant to the Company to exercise such Option. The Exercise Price shall be equal to or greater than the
Fair Market Value of a share of Company Stock on the date of the grant of the Option. Except in connection with an adjustment described
in Section 3(b), in no event shall the Exercise Price of an Option be reduced following the grant of the Option, nor shall the
Option be cancelled in exchange for a replacement Option with a lower Exercise Price or in exchange for another type of Award or
cash payment, in each case without stockholder approval. In addition, the Committee shall not have the authority to grant an Option
which provides that the Participant will be granted a new Option (commonly referred to as a “reload option”) for a
number of shares of Company Stock equal to the number of shares of Company Stock surrendered by the Participant upon exercise of
all or a part of the original Option.

 

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(c)
       Term and Exercise of Options.

 

		(i)	Each Option shall become exercisable at the time or times specified by the Committee and set forth
in the applicable Award Agreement. At the time of grant of an Option, the Committee may impose such restrictions or conditions
to the exercisability of the Option as it, in its discretion, deems appropriate. Subject to Section 7(d) hereof, the Committee
shall determine and set forth in the applicable Award Agreement the expiration date of each Option, which shall be no later than
the 10-year anniversary of the date of grant of the Option (or 5-year anniversary in the case of a an Incentive Stock Option granted
to an individual who owns (or is deemed to own under the Code) Company Stock possessing more than 10% of the total combined voting
power of all classes of stock of the Company), provided that, if the term of a Nonqualified Stock Option would expire at
a time when trading in the shares of Company Stock is prohibited by the Company’s insider trading policy, the term of the
Option shall be extended automatically until the 30th day following the expiration of such prohibition (as long as such extension
shall not violate Section 409A of the Code).

 

		(ii)	An Option shall be exercised by delivering the form of notice of exercise provided by the Company.
Payment of the Exercise Price for shares of Company Stock purchased upon the exercise of an Option shall be made on the effective
date of such exercise by one or a combination of the following means: (A) in cash or by personal check, certified check, bank cashier’s
check or wire transfer; (B) in shares of Company Stock owned by the Participant and valued at their Fair Market Value on the effective
date of such exercise; (C) by withholding shares of Company Stock otherwise deliverable upon exercise of an Option; or (D) by any
such other methods (including broker-assisted cashless exercise) as the Committee may from time to time authorize; provided
that, in the case of a Participant who is subject to Section 16 of the Exchange Act, the method of making such payment shall be
in compliance with applicable law. Except as authorized by the Committee, any payment in shares of Company Stock shall be effected
by the delivery of such shares of Company Stock 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. If
the Committee decides that payment will be made in shares of Company Stock, and the amount payable results in a fractional share
of Company Stock, payment for the fractional share of Company Stock will be made in cash.

 

		(iii)	Certificates for shares of Company Stock purchased upon the exercise of an Option shall be issued
in the name of or for the account of the Participant or other person entitled to receive such shares of Company Stock, and delivered
to the Participant or such other person as soon as practicable following the effective date on which the Option is exercised or
the Participant’s ownership of the Company Stock shall be registered by the Company in book entry form.

 

(d)       Provisions
Relating to Incentive Stock Options. Incentive Stock Options may only be granted to Employees of the Company and any “subsidiary
corporation” (within the meaning of Section 424(f) of the Code) of the Company. To the extent that the aggregate Fair Market
Value of shares of Company Stock with respect to which Incentive Stock Options 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 and any “subsidiary corporation”
(within the meaning of Section 424(f) of the Code) shall exceed $100,000, such Options shall be treated as Nonqualified Stock Options.
For purposes of this Section 7(d), Fair Market Value shall be determined as of the date on which the Incentive Stock Option is
granted. Each Award Agreement with respect to an Incentive Stock Option shall require the Participant to notify the Company of
any disposition of shares of Company Stock issued pursuant to the exercise of such Incentive Stock Option under the circumstances
described in Section 421(b) of the Code (relating to certain disqualifying dispositions), within 10 days of such disposition. No
Incentive Stock Option may be granted to an individual if, at the time of the proposed grant, such individual owns (or is deemed
to own under the Code) stock possessing more than 10% of the total combined voting power of all classes of stock of the Company
unless (A) 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 (B) such Incentive Stock Option is not exercisable after the expiration
of 5 years from the date such Incentive Stock Option is granted.

 

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(e)       Effect
of Termination of Service. Unless otherwise determined by the Committee at the time of grant and set forth in the applicable
Award Agreement, in the event of a Participant’s Termination of Service for any reason other than (i) Cause or (ii) death,
each Option granted to such Participant, to the extent that it is exercisable at the time of such Termination of Service, shall
remain exercisable for the 90-day period following such Termination of Service, but in no event following the expiration of its
term. Except as may be otherwise determined by the Committee, each Option that remains unexercisable as of the date of such a Termination
of Service shall be terminated at the time of such Termination of Service. Unless otherwise determined by the Committee at the
time of grant as set forth in the applicable Award Agreement, in the event of a Participant’s Termination of Service on account
of the death of the Participant, each Option granted to such Participant that is outstanding as of the date of death shall become
fully exercisable and shall remain exercisable by the Participant’s legal representatives, heirs or legatees for the 1-year
period following such Termination of Service, but in no event following the expiration of its term. In the event of a Participant’s
Termination of Service for Cause, each outstanding Option granted to such Participant shall terminate immediately upon such Termination
of Service.

 

		8.	Stock Appreciation Rights.

 

(a)       At
the time of grant of a Stock Appreciation Right, the Committee may impose such restrictions or conditions to the exercisability
of the Stock Appreciation Right as it, in its discretion, deems appropriate. The term of a Stock Appreciation Right shall not exceed
ten years from the date of grant. In addition, the base price per share (the “Base Price”) of a Stock
Appreciation Right shall be equal to or greater than the Fair Market Value of a share of Company Stock on the date of grant.

 

(b)       All
Stock Appreciation Rights shall be non-transferable, except by will or the laws of descent and distribution or except as otherwise
determined by the Committee for estate planning purposes.

 

(c)       Upon
the exercise of a Stock Appreciation Right, the holder will be entitled to receive payment of an amount determined by multiplying:

 

		(i)	the excess of the Fair Market Value of a share of Company Stock on the date of exercise of such
Stock Appreciation Right over the Base Price of the Stock Appreciation Right, by

 

		(ii)	the number of shares of Company Stock as to which such Stock Appreciation Right is exercised.

 

(d)       Notwithstanding
subsection (c) above, the Committee may impose a limitation on the amount payable upon the exercise of a Stock Appreciation Right.
Any such limitation shall be determined as of the date of grant and indicated in the applicable Award Agreement.

 

(e)       Payment
of the amount determined under subsection (c) above may be made solely in whole shares of Company Stock valued at their Fair Market
Value on the date of exercise of the Stock Appreciation Right or alternatively, in the discretion of the Committee, solely in cash
or a combination of cash and shares of Company Stock. Except as authorized by the Committee, any payment in shares of Company Stock
shall be effected by the delivery of such shares of Company Stock 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.
If the Committee decides that payment will be made in shares of Company Stock, and the amount payable results in a fractional share
of Company Stock, payment for the fractional share of Company Stock will be made in cash.

 

    8 

     

    

 

(f)        Other
than with respect to an adjustment described in Section 3(b), in no event shall the Base Price with respect to a Stock Appreciation
Right be reduced following the grant of a Stock Appreciation Right, nor shall a Stock Appreciation Right be cancelled in exchange
for a replacement Stock Appreciation Right with a lower Base Price or in exchange for another type of Award or cash payment without
stockholder approval.

 

(g)       Unless
otherwise determined by the Committee at the time of grant and set forth in the applicable Award Agreement, in the event of a Participant’s
Termination of Service for any reason other than (i) Cause or (ii) death, each Stock Appreciation Right granted to such Participant,
to the extent that it is exercisable at the time of such Termination of Service, shall remain exercisable for the 90-day period
following such Termination of Service, but in no event following the expiration of its term. Except as may be otherwise determined
by the Committee, any Stock Appreciation Right that is not exercisable as of the date of such a Termination of Service shall be
terminated at the time of such Termination of Service. Unless otherwise determined by the Committee at the time of grant as set
forth in the applicable Award Agreement, in the event of a Participant’s Termination of Service on account of the death of
the Participant, each Stock Appreciation Right granted to such Participant that is outstanding as of the date of death shall become
fully exercisable and shall remain exercisable by the Participant’s legal representatives, heirs or legatees for the one-year
period following such Termination of Service, but in no event following the expiration of its term. In the event of a Participant’s
Termination of Service for Cause, each outstanding Stock Appreciation Right granted to such Participant shall terminate immediately
upon such Termination of Service.

 

		9.	Restricted Stock.

 

(a)       Price.
At the time of the grant of an Award of shares of Restricted Stock, the Committee shall determine the price, if any, to be paid
by the Participant for each share of Restricted Stock subject to the Award.

 

(b)       Vesting
Date. At the time of the grant of an Award of Restricted Stock, the Committee shall establish a vesting date or vesting dates
with respect to such Award. The Committee may divide the shares of Restricted Stock constituting the Award into classes and assign
a different vesting date for each class. If all conditions to the vesting of a share of Restricted Stock are satisfied, subject
to Section 9(h), upon the occurrence of the vesting date such share of Restricted Stock shall vest and the restrictions of Section
9(d) with respect thereto shall lapse.

 

(c)       Conditions
to Vesting. At the time of the grant of an Award of Restricted Stock, the Committee in its discretion, may impose such restrictions
or conditions to the vesting of such Award as it, deems appropriate. The Committee may also provide that the vesting or forfeiture
of shares of Restricted Stock may be based upon the achievement of, or failure to achieve, certain levels of performance and may
provide for partial vesting of Restricted Stock in the event that the maximum level of performance is not met if the minimum level
of performance has been equaled or exceeded. Notwithstanding anything in this Section 9(c) to the contrary, unless otherwise provided
by the Committee pursuant to Section 9(h) or Section 13, Restricted Stock that vests based on achievement of performance goals
or levels of performance may not become fully vested prior to the first anniversary of the date upon which such Restricted Stock
is granted.

 

(d)       Restrictions
on Transfer Prior to Vesting. Prior to the vesting of a share of Restricted Stock, such Restricted Stock may not be transferred,
assigned or otherwise disposed of, and no transfer of a Participant’s rights with respect to such Restricted Stock, whether
voluntary or involuntary, by operation of law or otherwise, shall be permitted. Immediately upon any attempt to transfer such rights,
such shares of Restricted Stock, and all of the rights related thereto, shall be forfeited by the Participant.

 

(e)       Dividends
on Restricted Stock. The Committee, in its discretion, may require that any dividends paid on shares of Restricted Stock be
held in escrow until all restrictions on such shares of Restricted Stock have lapsed.

 

(f)       Issuance
of Certificates. The Committee may provide, upon such terms and conditions as it determines, that (i) a certificate or certificates
representing the shares of Company Stock underlying a Restricted Stock Award shall be registered in the Participant’s name
and bear an appropriate legend specifying that such shares of Company Stock are not transferable and are subject to the provisions
of the Plan and the restrictions, terms and conditions set forth in the applicable Award Agreement, (ii) such certificate or certificates
shall be held in escrow by the Company on behalf of the Participant until such shares of Restricted Stock become vested or are
forfeited or (iii) the Participant’s ownership of the Restricted Stock shall be registered by the Company in book entry form.

 

    9 

     

    

 

(g)       Consequences
of Vesting. Upon the vesting of a share of Restricted Stock, the restrictions of Section 9(d) shall lapse with respect to such
share of Restricted Stock. As determined by the Committee, following the date on which a share of Restricted Stock vests, the Company
shall, make a book entry record of such share of Restricted Stock or cause to be delivered to the Participant to whom such shares
of Restricted Stock were granted, a certificate evidencing such share of Restricted Stock, which may bear a restrictive legend,
if the Committee determines such a legend to be appropriate.

 

(h)       Effect
of Termination of Service. Except as may otherwise be provided in the applicable Award Agreement, and subject to the Committee’s
authority under Section 4 hereof, upon a Participant’s Termination of Service for any reason, any and all shares of Restricted
Stock to which restrictions on transferability apply shall be immediately forfeited by the Participant and transferred to, and
reacquired by, the Company. In the event of a forfeiture of shares of Restricted Stock pursuant to this section, the Company shall
repay to the Participant (or the Participant’s estate) any amount paid by the Participant for such shares of Restricted Stock.
In the event that a Participant forfeits any shares of Restricted Stock and the Company requires that the Participant to return
shares of Restricted Stock, it shall also have the right to require the return of all dividends paid on such shares of Restricted
Stock, whether by termination of any escrow arrangement under which such dividends are held or otherwise.

 

		10.	Restricted Stock Units.

 

(a)       Vesting
Date. At the time of the grant of an Award of Restricted Stock Units, the Committee shall establish a vesting date or vesting
dates with respect to such Award. The Committee may divide such Restricted Stock Units into classes and assign a different vesting
date for each class. If all conditions to the vesting of a Restricted Stock Unit are satisfied, subject to Section 10(d), upon
the occurrence of the vesting date such Restricted Stock Unit shall vest.

 

(b)       Benefit
Upon Vesting. Unless otherwise provided in an Award Agreement, upon the vesting of a Restricted Stock Unit, the Participant
shall be paid, within 30 days of the date on which such Restricted Stock Unit vests, an amount, in cash and/or shares of Company
Stock, as determined by the Committee. The amount per Restricted Stock Unit shall be equal to the sum of (i) the Fair Market Value
of a share of Company Stock on the date on which such Restricted Stock Units vest and (ii) the aggregate amount of cash dividends
paid with respect to a share of Company Stock during the period commencing on the date on which the Restricted Stock Units were
granted and terminating on the date on which such Restricted Stock Units vest.

 

(c)       Conditions
to Vesting. At the time of the grant of Restricted Stock Units, the Committee in its discretion, may impose such restrictions
or vesting conditions to the vesting of such Restricted Stock Units as it deems appropriate.

 

(d)       Effect
of Termination of Service. Except as may otherwise be provided in the applicable Award Agreement or determined by the Committee
in its discretion, Restricted Stock Units that have not vested, together with any dividend equivalents deemed to have been credited
with respect to such unvested Restricted Stock Units, shall be forfeited upon the Participant’s Termination of Service for
any reason.

 

		11.	Stock Bonuses.

 

In the event that the
Committee grants an Award of a Stock Bonus to a Participant, a certificate for the shares of Company Stock constituting such 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 payable, or, as determined by the Committee, the Company shall make a book entry record
of such share of Company Stock.

 

    10 

     

    

 

		12.	Other Stock-Based Awards.

 

Other Stock-Based Awards
may be granted either alone or in addition to Other Stock-Based Awards (other than in connection with Options or Stock Appreciation
Rights) under the Plan. Any dividend or dividend equivalent awarded under the Plan shall be subject to the same restrictions, conditions
and risks of forfeiture as the underlying Award. Cash incentive awards may be denominated in units that have a dollar value established
by the Committee as of the date of grant. Subject to the provisions of the Plan, the Committee shall have the discretion to determine
the persons to whom, and the time or times at which, such Other Stock-Based Awards discretion shall be granted, the number of shares
of Company Stock to be granted pursuant to such Other Stock-Based Awards, and the manner in which such Other Stock-Based Awards
shall be settled (for example, in shares of Company Stock or cash), or the conditions to the vesting and/or payment or settlement
of such Other Stock-Based Awards (which may include, but not be limited to, achievement of performance goals) and all other terms
and conditions of such Other Stock-Based Awards.

 

		13.	Change in Control Provisions.

 

(a)       Unless
otherwise determined by the Committee and provided in the applicable Award Agreement, and subject to Section 3(b), in the event
of a Change in Control, the Committee, in its discretion, may take such actions with respect to outstanding Awards as determines
to be appropriate, including without limitation:

 

		(i)	provide that any outstanding Award that is not assumed or substituted in connection with a Change
in Control, immediately upon the occurrence of the Change in Control, such Award shall become fully vested and exercisable and
the restrictions, payment conditions, and forfeiture conditions applicable to any such Award granted shall lapse, and

 

		(ii)	provide that each Award shall, immediately upon the occurrence of a Change in Control, be cancelled
in exchange for a payment in cash or securities in an amount equal to (A) the excess of the consideration paid per share of Company
Stock in the Change in Control over the exercise or purchase price (if any) per share of Company Stock subject to the Award multiplied
by (B) the number of shares of Company Stock granted under the Award. If the amount determined pursuant to the immediately preceding
sentence is zero, such Award may be cancelled pursuant to this Section 13(a) without payment of any consideration to the affected
Participant. The Committee shall not be required to treat all Awards similarly for purposes of this Section 13(a).

 

(b)       Notwithstanding
the foregoing, for each Award that constitutes nonqualified deferred compensation under Section 409A of the Code, if required to
avoid accelerated taxation and/or tax penalties under Section 409A of the Code, a Change in Control shall be deemed to have occurred
for purposes of vesting or the lapse of restrictions, but not purposes of the payment or settlement of such Award under the Plan
unless such Change in Control constitutes a “change in the ownership of the corporation,” a “change in effective
control of the corporation” or a “change in the ownership of a substantial portion of the assets of the corporation,”
within the meaning of Section 409A(a)(2)(A)(v) of the Code.

 

(c)       The
obligations of the Company under the Plan shall be binding upon any successor corporation or organization resulting from the merger,
consolidation or other reorganization of the Company, or upon any successor corporation or organization succeeding to substantially
all of the assets and business of the Company.

 

		14.	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 Award until the date of record
issuance of such shares of Company Stock in the books of the Company or the issuance of a stock certificate with respect to such
shares of Company Stock. Except for adjustments provided in Section 3(b), no adjustment to any Award shall be made for dividends
or other rights for which the record date occurs prior to the date such book entry is made or stock certificate is issued.

 

    11 

     

    

 

		15.	No Employment Rights; No Right to Award.

 

Nothing contained in
the Plan or any Award Agreement shall confer upon any Participant any right with respect to the continuation of employment by or
provision of services to the Company and its Affiliates or interfere in any way with the right of the Company or any of its Affiliates,
subject to the terms of any separate agreement to the contrary, at any time to terminate such employment or service or to increase
or decrease the compensation of the Participant. No person shall have any claim or right to receive an Award hereunder. The Committee’s
granting of an Award to a Participant at any time shall neither require the Committee to grant any other Award to such Participant
or other person at any time nor preclude the Committee from making subsequent grants to such Participant or any other person.

 

		16.	Securities Matters and Regulations.

 

(a)       Notwithstanding
anything herein to the contrary, the obligation of the Company to sell or deliver Company Stock with respect to any Award granted
under the Plan shall be subject to all applicable laws, rules and regulations, including all applicable federal and state securities
laws, and the obtaining of all such approvals by governmental agencies as may be deemed necessary or appropriate by the Committee.
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 of Company Stock make such agreements and representations, and that such
certificates bear such legends, as the Committee, in its discretion, deems necessary or advisable.

 

(b)       Each
Award is subject to the requirement that, if at any time the Committee determines, in its discretion, that the listing, registration
or qualification of Company Stock issuable pursuant to the Plan is required by any securities exchange or under any state or federal
law, or the consent or approval of any governmental regulatory body is necessary or desirable as a condition of, or in connection
with, the grant of an Award or the issuance of Company Stock, no such Award shall be granted or payment made or Company Stock issued,
in whole or in part, unless listing, registration, qualification, consent or approval has been effected or obtained free of any
conditions not acceptable to the Committee.

 

(c)       In
the event that the disposition of Company Stock acquired pursuant to the Plan is not covered by a then-current registration statement
under the Securities Act and is not otherwise exempt from such registration, such Company Stock shall be restricted against transfer
to the extent required by the Securities Act, and the Committee may require a Participant receiving Company Stock pursuant to the
Plan, as a condition precedent to receipt of such Company Stock, to represent to the Company in writing that the Company Stock
acquired by such Participant is acquired for investment only and not with a view to distribution.

 

(d)       The
intent of the Plan is to qualify for the exemption provided by Rule 16b-3 under the Exchange Act. To the extent any provision of
the Plan or any Award Agreement does not comply with the requirements of Rule 16b-3, it shall be deemed inoperative to the extent
permitted by law and deemed advisable by the Committee and shall not affect the validity of the Plan. In the event that Rule 16b-3
is revised or replaced, the Committee, acting on behalf of the Board, may exercise discretion to modify the Plan in any respect
necessary to satisfy the requirements of the revised exemption or its replacement.

 

		17.	Withholding Taxes.

 

Whenever cash is to
be paid pursuant to an Award, the Company or any of its Affiliates shall have the right to deduct therefrom an amount sufficient
to satisfy any federal, state and local withholding tax requirements related thereto. Whenever shares of Company Stock are to be
delivered pursuant to an Award, the Company shall have the right to require the Participant to remit to the Company in cash an
amount sufficient to satisfy any federal, state and local withholding tax requirements related thereto. With the approval of the
Committee, a Participant may satisfy the foregoing requirement by electing to have the Company withhold from delivery shares of
Company Stock having a value equal to the amount of tax required to be withheld. Such shares of Company Stock shall be valued at
their Fair Market Value on the date of which the amount of tax to be withheld is determined. Amounts with respect to fractional
shares of Company Stock shall be settled in cash. Such a withholding election may be made with respect to all or any portion of
the shares of Company Stock to be delivered pursuant to an Award.

 

    12 

     

    

 

		18.	Notification of Election Under Section 83(b) of the Code.

 

If any Participant
shall, in connection with the acquisition of shares of Company Stock under the Plan, make the election permitted under Section
83(b) of the Code, such Participant shall notify the Company of such election within 10 days of filing notice of the election with
the Internal Revenue Service.

 

		19.	Amendment or Termination of the Plan.

 

The Board may, at any
time, suspend or terminate the Plan or revise or amend it in any respect whatsoever; provided, however, that stockholder
approval shall be required for any such amendment if and to the extent such approval is required in order to comply with applicable
law or stock exchange listing requirement. Nothing herein shall restrict the Committee’s ability to exercise its discretionary
authority pursuant to Sections 3 and 4, which discretion may be exercised without amendment to the Plan. No
amendment, suspension or termination will materially and adversely affect the rights of any Participant under an Award or the Plan
without the consent of the Participant.

 

		20.	Transfers Upon Death.

 

Upon the death of a
Participant, outstanding Awards granted to such Participant may be exercised only by the executor or administrator of the Participant’s
estate or by a person who shall have acquired the right to such exercise by will or by the laws of descent and distribution. No
transfer of an Award by will or the laws of descent and distribution 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 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 Award.

 

		21.	Expenses and Receipts.

 

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

 

		22.	Effective Date and Term of Plan.

 

The Plan was
adopted and approved by the Board on July 28, 2018 and approved by the stockholders of the Company on July 19, 2018 (the
“Effective Date”).

 

		23.	Participant Rights.

 

No Participant shall
have any claim to be granted any award under the Plan, and there is no obligation for uniformity of treatment for Participants.

 

		24.	Unfunded Status of Awards.

 

The Plan is intended
to constitute 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 Agreement shall give any such Participant any
rights that are greater than those of a general creditor of the Company.

 

    13 

     

    

 

		25.	Foreign Employees and Foreign Law Considerations.

 

The Committee may grant
Awards to Eligible Individuals who are foreign nationals, who are located outside the United States or who are not compensated
from a payroll maintained in the United States, or who are otherwise subject to (or could cause the Company to be subject to) tax,
legal or regulatory provisions of countries or jurisdictions outside the United States, on such terms and conditions different
from those specified in the Plan as may, in the judgment of the Committee, be necessary or desirable to foster and promote achievement
of the purposes of the Plan, and, in furtherance of such purposes, the Committee may make such modifications, amendments, procedures,
or subplans as may be necessary or advisable to comply with such tax, legal or regulatory provisions.

 

		26.	No Fractional Shares.

 

No fractional shares
of Company Stock shall be issued or delivered pursuant to the Plan. Unless otherwise provided herein, the Committee shall determine
whether cash, Other Stock-Based Awards, or other property shall be issued or paid in lieu of such fractional shares of Company
Stock or whether such fractional shares of Company Stock or any rights thereto shall be forfeited or otherwise eliminated.

 

		27.	Beneficiary.

 

A Participant may file
with the Committee a written designation of a beneficiary on such form as may be prescribed by the Committee and may, from time
to time, amend or revoke such designation. If no designated beneficiary survives the Participant, the executor or administrator
of the Participant’s estate shall be deemed to be the Participant’s beneficiary.

 

		28.	Paperless Administration.

 

In the event that the
Company establishes, for itself or using the services of a third-party, an automated system for the documentation, granting or
exercise of Awards, such as a system using an internet website or interactive voice response, then the paperless documentation,
granting or exercise of Awards by a Participant may be permitted through the use of such an automated system.

 

		29.	Effect of Plan upon Other Compensation Plans.

 

The adoption of the
Plan shall not affect any other compensation or incentive plans in effect for the Company or any of its Affiliates. Nothing in
the Plan shall be construed to limit the right of the Company or any of its Affiliates to establish any other forms of incentives
or compensation for Employees, Directors or Consultants.

 

		30.	Gender and Number; Captions.

 

Except where otherwise
indicated by the context, any masculine term used herein also shall include the feminine; any feminine term used herein also shall
include the masculine; and the plural shall include the singular and the singular shall include the plural. Captions and headings
are given to the articles, sections and subsections of the Plan solely as a convenience to facilitate reference. Such headings
shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof.

 

		31.	Severability.

 

If any provision of
the Plan or any Award Agreement is held to be invalid, illegal or unenforceable, such provision shall be deemed modified to the
extent, but only to the extent, of such invalidity, illegality or unenforceability and the other provisions of the Plan or Award
Agreement shall not be affected but shall be applied as if the invalid or unenforceable provision had not been included in the
Plan.

 

    14 

     

    

 

		32.	Applicable Law.

 

Except to the extent
preempted by any applicable federal law, the Plan shall be construed and administered in accordance with the laws of the State
of Delaware without reference to its principles of conflicts of law.

 

		33.	Clawback.

 

The Awards granted
under the Plan are subject to the terms of the Company’s recoupment, clawback or similar policy as it may be in effect from
time to time, as well as any similar provisions of applicable law, as well as any other policy of the Company that applies to Awards,
such as anti-hedging or pledging policies, as they may be in effect from time to time.

 

		34.	Section 409A Compliance.

 

The Plan as well as
payments and benefits under the Plan are intended to comply with Section 409A of the Code to the extent subject thereto, and, accordingly,
to the maximum extent permitted, the Plan shall be interpreted and be administered to be in compliance therewith. Notwithstanding
anything contained herein to the contrary, to the extent required in order to avoid taxation and/or tax penalties under Section
409A of the Code, the Participant shall not be considered to have terminated employment with the Company for purposes of the Plan
and no payment shall be due to the Participant under the Plan or any Award until the Participant would be considered to have incurred
a “separation from service” from the Company within the meaning of Section 409A of the Code. Any payments described
in the Plan that are due within the “short term deferral period” as defined in Section 409A of the Code shall not be
treated as deferred compensation unless applicable law requires otherwise. Notwithstanding anything to the contrary in the Plan,
to the extent that any Awards are payable upon a separation from service and such payment would result in the imposition of any
individual tax and penalty interest charges imposed under Section 409A of the Code, the settlement and payment of such Awards shall
instead be made on the first business day after the date that is 6 months following such separation from service (or death, if
earlier). Whenever a payment under an Award specifies a payment period with reference to a number of days, the actual date of payment
within the specified period shall be within the discretion of the Company. If under an Award an amount is to be paid in two or
more installments, for purposes of Section 409A of the Code, each installment shall be treated as a separate payment.

 

		35.	Forfeiture and Compensation Recovery.

 

(a)       The
Committee may specify in an Award Agreement that the Participant’s rights, payments and benefits with respect to an Award
will be subject to reduction, cancellation or forfeiture or recovery by the Company upon the occurrence of certain specified events,
in addition to any otherwise applicable vesting or performance conditions of the Award. Such events may include a Termination of
Service for Cause, violation of material Company policies, breach of noncompetition or other restrictive covenants that apply to
the Participant, a determination that the payment of the Award was based on an incorrect determination that financial or other
criteria were met or other conduct by the Participant that is detrimental to the business or reputation of the Company or its Affiliates.

 

(b)       Awards
and any payments or compensation associated therewith may be made subject to forfeiture or recovery by the Company or other action
pursuant to any compensation recovery policy adopted by the Board or the Committee at any time, including in response to requirements
of Section 10D of the Exchange Act and any implementing rules and regulations thereunder, or as otherwise required by law. Any
Award Agreement may be unilaterally amended by the Committee to comply with such compensation or recovery policy.

 

* * *

 

    15Exhibit 10.3

 

PRIORITY TECHNOLOGY HOLDINGS, INC.
EARNOUT INCENTIVE PLAN

 

Priority Technology Holdings,
Inc., a Delaware corporation (the “Company”), adopted the Priority Technology Holdings, Inc. Earnout Incentive
Plan (the “Plan”) pursuant to the terms of the Second Amended and Restated Contribution Agreement, dated as
of April 17, 2018, by and among Priority Investment Holdings, LLC, Priority Incentive Equity Holdings, LLC and the Company (the
“Contribution Agreement”). The Plan is effective upon the Closing as defined in the Contribution Agreement (the
“Effective Date”).

 

Article
I.

DEFINITIONS

 

Wherever the following
terms are used in the Plan they shall have the meanings specified below, unless the context clearly indicates otherwise. The singular
pronoun shall include the plural where the context so indicates.

 

1.1.          “Applicable
Exchange” means the NASDAQ Capital Market or other securities exchange or national market system as may at the applicable
time be the principal market for the Common Stock.

 

1.2.          “Award”
means a Restricted Stock Unit Award, a Deferred Stock Award or a Stock Payment Award, in each case, which may be awarded or granted
under the Plan.

 

1.3.          “Award
Agreement” means any written notice, agreement, terms and conditions, contract or other instrument or document evidencing
an Award, including through electronic medium, which shall contain such terms and conditions with respect to an Award as the Committee
shall determine consistent with the Plan.

 

1.4.          “Board”
means the Board of Directors of the Company.

 

1.5.          “Code”
means the Internal Revenue Code of 1986, as amended from time to time. Any reference to any section of the Code shall also be a
reference to any successor provision and any Treasury Regulation promulgated thereunder.

 

1.6.          “Committee”
means a committee or subcommittee of the Board, appointed as provided in Section 5.1, consisting of one or more Directors.

 

1.7.          “Common
Stock” means the common stock of the Company, par value $0.001 per share.

 

1.8.          “Consolidated
Adjusted EBITDA” has the meaning set forth in that Credit and Guaranty Agreement (the “Guaranty Agreement”)
dated as of January 3, 2017, among (a) Pipeline Cynergy Holdings, LLC, a Delaware limited liability company, Priority Institutional
Partner Services, LLC, a Delaware limited liability company, and Priority Payment Systems Holdings, LLC, a Georgia limited liability
company, as borrowers, (b) Priority Holdings, LLC and certain of its other subsidiaries, (c) the lenders from time to time party
thereto, and (d) SunTrust Bank, as administrative agent and collateral agent for such lenders, as amended by the First Amendment,
dated as of November 14, 2017 and the Second Amendment, dated as of January 11, 2018 and as further amended, restated, amended
and restated, supplemented, refinanced, replaced or otherwise modified from time to time, provided that any Unrestricted Subsidiaries
(as defined in the Guarantee Agreement) shall be treated as Restricted Subsidiaries (as defined in the Guarantee Agreement) for
purposes of the calculation of Consolidated Adjusted EBITDA under this Plan.

 

1.9.          “Consultant”
means any consultant or adviser of the Company or any of its Subsidiaries if: (a) the consultant or adviser is a natural person,
(b) the consultant or adviser renders bona fide services to the Company or any of its Subsidiaries; and (c) the services rendered
by the consultant or adviser are not in connection with the offer or sale of securities in a capital-raising transaction and do
not directly or indirectly promote or maintain a market for the Company’s securities.

 

    

     

    

 

1.10.        “Deferred
Stock” means a right to receive Common Stock awarded under Section 4.3 of the Plan.

 

1.11.        “Director”
means a member of the Board.

 

1.12.        “DRO”
means any judgment, decree or order which relates to marital property rights of a spouse or former spouse and is made pursuant
to applicable domestic relations law (including community property law).

 

1.13.       
“Eligible Person” means an Employee, Consultant or Non-Employee Director.

 

1.14.        “Employee”
means any officer or other employee of the Company or of its Subsidiaries.

 

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

 

1.16.        “Equity
Restructuring” means a nonreciprocal transaction between the Company and its stockholders, such as a stock dividend,
stock split, spin-off, rights offering or recapitalization through a large, nonrecurring cash dividend, that affects the number
or kind of shares of Common Stock (or other securities of the Company) or the share price of Common Stock (or other securities)
and causes a material change in the per share value of the Common Stock underlying outstanding Awards.

 

1.17.        “Fair
Market Value” means the closing sales price for a share of Common Stock as quoted on the Applicable Exchange on a specified
date.

 

1.18.        “Fiscal
Year” means the fiscal year of the Company.

 

1.19.        “GAAP”
means generally accepted accounting principles in the United States as of the Effective Date and consistently applied throughout
the periods involved.

 

1.20.        “Non-Employee
Director” means a Director who is not an Employee.

 

1.21.        “Participant”
means an Employee, Non-Employee Director or Consultant who has been granted an Award.

 

1.22.        “Person”
means any individual, corporation, partnership, limited liability company, firm, joint venture, association, joint-stock company,
trust, incorporated organization, governmental or regulatory or other entity.

 

1.23.       
“Restricted Stock Units” means rights to receive Common Stock awarded under Section 4.4.

 

1.24.        “Rule
16b-3” means Rule 16b-3 promulgated under the Exchange Act, as such Rule may be amended from time to time.

 

1.25.        “Securities
Act” means the Securities Act of 1933, as amended from time to time.

 

1.26.        “Stock
Payment” means a payment in the form of shares of Common Stock.

 

1.27.        “Subsidiary”
means, with respect to any Person, any entity of which (a) securities or other ownership interests having ordinary voting power
to elect a majority of the board of directors or other persons performing similar functions or (b) 50% or more of the equity interests
are at the time directly or indirectly owned by such Person.

 

1.28.        “Termination”
means a Termination of Consultancy, Termination of Directorship or Termination of Employment, as applicable.

 

1.29.        “Termination
of Consultancy” means the time when the engagement of a Participant as a Consultant to the Company or any of its Subsidiaries
is terminated for any reason, with or without cause, including, without limitation, by resignation, discharge, death or retirement,
but excluding terminations where there is a simultaneous commencement of employment with the Company or any of its Subsidiaries
or service as a Non-Employee Director. For purposes of the Plan, the engagement of a Participant as a Consultant to a Subsidiary
of the Company shall be deemed to be terminated in the event that the Subsidiary engaging such Participant ceases to remain a Subsidiary
of the Company for any reason and the Participant has not continued to be engaged by the Company or other Subsidiary of the Company.

 

    2

     

    

 

1.30.        “Termination
of Directorship” means the time when a Participant who is a Non-Employee Director ceases to be a Director for any reason,
including, without limitation, a termination by resignation, removal, failure to be elected, death or retirement, but excluding
terminations where there is a simultaneous commencement of employment or service as a Consultant with the Company or any of its
Subsidiaries.

 

1.31.        “Termination
of Employment” means the time when the employee-employer relationship between a Participant and the Company or any of
its Subsidiaries is terminated for any reason, with or without cause, including, without limitation, a termination by resignation,
discharge, death, disability or retirement; but excluding a termination where there is a simultaneous (a) reemployment or continuing
employment of the Participant by the Company or any of its Subsidiaries, (b) establishment of a consulting relationship by the
Company or any of its Subsidiaries with the Participant, or (c) commencement of service by the Participant as a Non-Employee Director.
For purposes of the Plan, a Participant’s employment relationship shall be deemed to be terminated in the event that the
Subsidiary of the Company employing such Participant ceases to remain a Subsidiary of the Company for any reason and the Participant
has not continued employment with the Company or other Subsidiary of the Company.

 

Article
II.

SHARES SUBJECT TO PLAN

 

2.1.          Shares
Subject to Plan.

 

(a)            Subject
to Section 6.3 and Section 2.1(b), 5,880,000 shares of Common Stock, in the aggregate, may be issued or transferred pursuant to
Awards under the Plan (the “Share Limit”) as follows:

 

(i)        an
aggregate of 2,940,000 shares of Common Stock (the “Initial Threshold Shares”) may be issued to Eligible Persons
pursuant to Awards under the Plan if: (a) the Consolidated Adjusted EBITDA during the Fiscal Year ending December 31, 2018 equals
or exceeds $82,500,000 and (b) the Fair Market Value of the Common Stock equals or exceeds $12.00 per share for any 20 trading
days within a consecutive 30-trading day period on or before December 31, 2019; and

 

(ii)       subject
to Section 2.1(a)(iii), an aggregate of 2,940,000 shares of Common Stock may be issued to Eligible Persons pursuant to Awards under
the Plan if: (a) the Consolidated Adjusted EBITDA during the Fiscal Year ending December 31, 2019 equals or exceeds $91,500,000
and (b) the Fair Market Value the Common Stock equals or exceeds $14.00 per share for any 20 trading days within a consecutive
30-trading day period during the period beginning on January 1, 2019 and ending on December 31, 2020.

 

(iii)       notwithstanding
the provisions of Section 2.1(a)(i) and (a)(ii), if no Initial Threshold Shares are issuable pursuant to Section 2.1(a)(i) because
the conditions therein were not satisfied, then an aggregate of 5,880,000 shares of Common Stock may be issued to Eligible Persons
pursuant to Section 2.1(a)(ii) (in lieu of 2,940,000) if clauses (a) and (b) of Section 2.1(a)(ii) are satisfied. For the avoidance
of doubt, this Section 2.1(a)(iii) shall not be interpreted to authorize the issuance of shares of Common Stock in excess of the
Share Limit.

 

(b)       In
the event of any termination, expiration, lapse or forfeiture of an Award, any shares of Common Stock subject to such Award shall,
to the extent of such termination, expiration, lapse or forfeiture, again be available for future grants of Awards under the Plan.

 

2.2.          Stock
Distributed. Any Common Stock distributed pursuant to an Award shall consist, in whole or in part, of authorized and unissued
shares of Common Stock or shares of Common Stock held in treasury.

 

    3

     

    

 

Article
III.

GRANTING OF AWARDS

 

3.1.          Award
Agreement. Each Award shall be evidenced by an Award Agreement.

 

3.2.          Limitations
Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan, the Plan and any Award granted or awarded
to any individual who is then subject to Section 16 of the Exchange Act shall be subject to any additional limitations set forth
in any applicable exemptive rule under Section 16 of the Exchange Act (including Rule 16b-3) that are requirements for the application
of such exemptive rule. To the extent permitted by applicable law, the Plan and Awards granted or awarded hereunder shall be deemed
amended to the extent necessary to conform to such applicable exemptive rule.

 

3.3.       At-Will
Employment. Nothing in the Plan or in any Award Agreement hereunder shall confer upon any Participant any right to continue
in the employ of, or as a Consultant for, the Company or any of its Subsidiaries, or as a Director, or shall interfere with or
restrict in any way the rights of the Company and any of its Subsidiaries, which rights are hereby expressly reserved, to discharge
any Participant at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise
in a written agreement between the Participant and the Company and any of its Subsidiaries.

 

Article
IV.

DEFERRED STOCK, STOCK PAYMENTS, RESTRICTED STOCK UNITS

 

4.1.          Eligibility.
Subject to Section 2.1, one or more Stock Payment Awards, Deferred Stock Awards and/or Restricted Stock Unit Awards may be granted
to any Eligible Person whom the Committee determines should receive such an Award.

 

4.2.          Stock
Payments. Each Eligible Person selected by the Committee may receive Stock Payments in the manner determined from time to time
by the Committee. The Stock Payment shall consist of that number of shares of Common Stock as determined by the Committee and may
be based on any specific criteria determined appropriate by the Committee.

 

4.3.          Deferred
Stock. Any Eligible Person selected by the Committee may be granted an award of Deferred Stock in the manner determined from
time to time by the Committee. The number of shares of Deferred Stock shall be determined by the Committee and may be linked to
the satisfaction of one or more specific performance goals as the Committee determines to be appropriate at the time of grant,
in each case on a specified date or dates or over any period or periods determined by the Committee. Common Stock underlying a
Deferred Stock Award will not be issued until the Deferred Stock Award has vested, pursuant to a vesting schedule or the achievement
of the applicable Performance Goals or other specific performance goals set by the Committee. Unless otherwise provided by the
Committee, a Participant shall have no rights as a Company stockholder with respect to Deferred Stock until such time as the Award
has vested and the Common Stock underlying the Award has been issued.

 

4.4.          Restricted
Stock Units. Any Eligible Person selected by the Committee may be granted an award of Restricted Stock Units in the manner
determined from time to time by the Committee. The Committee is authorized to make awards of Restricted Stock Units in such amounts
and subject to such terms and conditions as determined by the Committee at grant. The Committee shall specify the date or dates
on which the Restricted Stock Units shall become fully vested and nonforfeitable, and may specify such conditions to vesting as
it deems appropriate, and may specify that such Restricted Stock Units become fully vested and nonforfeitable pursuant to the satisfaction
of one or more specific performance goals as the Committee determines to be appropriate at the time of the grant, in each case
on a specified date or dates or over any period or periods determined by the Committee. The Committee shall specify the payment
dates applicable to each Award of Restricted Stock Units which shall be no earlier than the vesting dates and may be determined
at the election of the Eligible Person, subject to compliance with Section 409A of the Code. On the distribution dates, the Company
shall issue to the Participant one unrestricted, fully transferable share of Common Stock for each Restricted Stock Unit.

 

    4

     

    

 

4.5.          Term.
The term of a Deferred Stock Award, Stock Payment Award and/or Restricted Stock Unit Award shall be set by the Committee in its
discretion.

 

4.6.          Form
of Payment. Payment in respect of an Award shall be in Common Stock.

 

Article
V.

ADMINISTRATION

 

5.1.          Committee.
The members of the Committee shall be appointed by, and shall serve on the Committee at the pleasure of, the Board. As of the Effective
Date, the Committee shall consist of Thomas C. Priore. Appointment of Committee members shall be effective upon acceptance of appointment.
Committee members may resign at any time by delivering written notice to the Board. Vacancies in the Committee may be filled by
the Board.

 

5.2.          Duties
and Powers of Committee. It shall be the duty of the Committee to conduct the general administration of the Plan in accordance
with its provisions. The Committee shall have the power to interpret the Plan and the Award Agreements, and to adopt such rules
for the administration, interpretation and application of the Plan as are consistent therewith, to interpret, amend or revoke any
such rules, to delegate authority in accordance with Section 5.5 and to amend any Award Agreement provided that the rights or obligations
of the Participant of the Award that is the subject of any such Award Agreement are not affected adversely. Any such grant or award
under the Plan need not be the same with respect to each Participant. The Committee may, in its sole discretion, adopt special
guidelines and provisions for persons who are residing in or employed in, or subject to, the taxes of, any domestic or foreign
jurisdictions to comply with applicable tax and securities laws of such domestic or foreign jurisdictions.

 

5.3.          Majority
Rule; Unanimous Written Consent. The Committee shall act by a majority of its members in attendance at a meeting at which a
quorum is present or by a memorandum or other written instrument signed by all members of the Committee.

 

5.4.          Compensation;
Professional Assistance; Good Faith Actions. Members of the Committee shall receive such compensation, if any, for their services
as members as may be determined by the Board; provided, however, that, the member of the Committee as of the Effective
Date shall receive no compensation for such services. All expenses and liabilities which members of the Committee incur in connection
with the administration of the Plan shall be borne by the Company. The Committee may employ attorneys, consultants, accountants,
appraisers, brokers or other persons as it may deem desirable for the administration of the Plan. The Committee, the Company and
the Company’s officers and Directors shall be entitled to rely upon the advice, opinions or valuations of any such persons.
All actions taken and all interpretations and determinations made by the Committee or the Board in good faith shall be final and
binding upon all Participants, the Company and all other interested persons. No members of the Committee or Board shall be personally
liable for any action, determination or interpretation made in good faith with respect to the Plan or Awards, and all members of
the Committee and the Board shall be fully protected by the Company in respect of any such action, determination or interpretation.

 

5.5.          Delegation
of Authority. The Committee may, in its sole discretion, designate employees of the Company and professional advisors to assist
the Committee in the administration of the Plan, including with respect to the execution of Award Agreements or other documents,
and, to the extent permitted by applicable law, delegate from time to time some or all of its authority to grant Awards under the
Plan to a committee or committees consisting of one or more members of the Board and/or one or more officers of the Company. The
authority to grant awards, however, may not be delegated to: (a) individuals who are subject to the reporting rules under Section
16(a) of the Exchange Act and (b) individuals who are officers of the Company who are delegated authority by the Committee hereunder
to grant Awards to himself or herself. Any delegation hereunder shall be subject to the restrictions and limits that the Committee
specifies at the time of such delegation of authority and may be rescinded at any time by the Committee. At all times, any committee
appointed under this Section 5.5 shall serve in such capacity at the pleasure of the Committee.

 

    5

     

    

 

Article
VI.

MISCELLANEOUS PROVISIONS

 

6.1.          Transferability
of Awards. No Award under the Plan may be sold, pledged, assigned or transferred in any manner other than by will or the laws
of descent and distribution or, subject to the consent of the Committee, pursuant to a DRO, unless and until the shares underlying
such Award have been issued, and all restrictions applicable to such shares have lapsed. No Award or interest or right therein
shall be liable for the debts, contracts or engagements of the Participant or his successors in interest or shall be subject to
disposition by transfer, alienation, anticipation, pledge, hypothecation, encumbrance, assignment or any other means whether such
disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or
equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except
to the extent that such disposition is permitted by the preceding sentence.

 

6.2.          Amendment,
Suspension or Termination of the Plan and Awards. The Plan may be wholly or partially amended or otherwise modified, suspended
or terminated at any time or from time to time by the Board or the Committee, retroactively or otherwise. However, neither the
Board or the Committee may not take any action under this Section 6.2 without stockholder approval that, except as otherwise provided
in the Plan, would require stockholder approval in accordance with applicable law or applicable stock exchange rule. The Board
or the Committee may amend the terms of any Award theretofore granted, prospectively or retroactively, however, except as otherwise
provided in the Plan, no such amendment shall, without the consent of the Participant, alter or impair any rights of the Participant
under such Award without the consent of the Participant unless the Award itself otherwise expressly so provides. Except as otherwise
provided in the Plan or required by law, no amendment, suspension or termination of the Plan shall, without the consent of the
Participant, alter or impair any rights or obligations under any Award theretofore granted or awarded, unless the Award itself
otherwise expressly so provides.

 

6.3.          Changes
in Common Stock or Assets of the Company, Acquisition or Liquidation of the Company and Other Corporate Events.

 

(a)            Subject
to Section 6.3(d), in the event of any dividend or other extraordinary distribution (whether in the form of cash, Common Stock,
other securities or other property), recapitalization, reclassification, stock split, reverse stock split, reorganization, merger,
consolidation, split-up, spin-off, combination, repurchase, liquidation, dissolution, or sale, transfer, exchange or other disposition
of all or substantially all of the assets of the Company, or exchange of Common Stock or other securities of the Company, issuance
of warrants or other rights to purchase Common Stock or other securities of the Company, or other similar corporate transaction
or event that affects the Common Stock, then the Committee shall equitably adjust any or all of the following in order to prevent
dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or with respect to an
Award:

 

(i)        the
number of shares of Common Stock with respect to which Awards may be granted or awarded (including, without limitation, adjustments
to the Share Limit and kind of shares which may be issued under the Plan); and

 

(ii)       the
number of shares of Common Stock (or other securities or property) subject to outstanding Awards.

 

(b)           Subject
to Section 6.3(d), in the event of any transaction or event described in Section 6.3(a) or any unusual or nonrecurring transactions
or events affecting the Company, any of its Subsidiaries, or the financial statements of the Company or any of its Subsidiaries,
or of changes in applicable laws, regulations or accounting principles, the Committee, in its discretion, and on such terms and
conditions as it deems appropriate, either by the terms of the Award or by action taken prior to the occurrence of such transaction
or event and either automatically or upon the Participant’s request, is hereby authorized to take any one or more of the
following actions whenever the Committee determines that such action is appropriate in order to prevent dilution or enlargement
of the benefits or potential benefits intended to be made available under the Plan or with respect to any Award under the Plan,
to facilitate such transactions or events or to give effect to such changes in laws, regulations or principles:

 

    6

     

    

 

(i)        to
provide for the purchase of any such Award for an amount of cash equal to the amount that could have been attained upon the realization
of the Participant’s rights had such Award been currently payable or fully vested, or for the cancellation of such Award
if no amount could have been attained upon the realization of the Participant’s rights had such Award been currently payable
or fully vested;

 

(ii)       to
provide for the replacement of such Award with other rights or property selected by the Committee in its discretion having an aggregate
value not exceeding the amount that could have been attained upon the realization of the Participant’s rights had such Award
been currently payable or fully vested;

 

(iii)       to
provide that the Award cannot vest or become payable after such event;

 

(iv)      to
provide that such Award be assumed by the successor or survivor corporation, or a parent or subsidiary thereof, or shall be substituted
for by similar rights or awards covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof,
with appropriate adjustments as to the number and kind of shares and prices;

 

(v)       to
make adjustments in the number and type of shares of Common Stock subject to outstanding Awards, and/or in the terms and conditions
of (including the grant or purchase price), and the criteria included in, outstanding rights and awards and rights and awards which
may be granted in the future; and/or

 

(vi)      to
provide that, for a specified period of time prior to such event, the restrictions imposed under an Award Agreement upon some or
all shares of Restricted Stock Units or Deferred Stock may be terminated.

 

(c)            Subject
to Sections 6.3(d) and 3.2, the Committee may, in its discretion, include such further provisions and limitations in any Award,
agreement or certificate, as it may deem equitable and in the best interests of the Company.

 

(d)            No
adjustment or action shall be authorized to the extent such adjustment or action would result in short-swing profits liability
under Section 16 or violate the exemptive conditions of Rule 16b-3 unless the Committee determines that the Award is not to comply
with such exemptive conditions. The number of shares of Common Stock subject to any Award shall always be rounded down to the next
whole number.

 

(e)            The
existence of the Plan, the Award Agreement and the Awards granted hereunder shall not affect or restrict in any way the right or
power of the Company or the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization or
other change in the Company’s capital structure or its business, any merger or consolidation of the Company, any issue of
stock or of options, warrants or rights to purchase stock or of bonds, debentures, preferred or prior preference stocks whose rights
are superior to or affect the Common Stock or the rights thereof or which are convertible into or exchangeable for Common Stock,
or the dissolution or liquidation of the company, or any sale or transfer of all or any part of its assets or business, or any
other corporate act or proceeding, whether of a similar character or otherwise.

 

(f)             In
connection with the occurrence of any Equity Restructuring, and notwithstanding anything to the contrary in Sections 6.3(a) and
6.3(b):

 

(i)        the
number and type of securities subject to each outstanding Award and the exercise price or grant price thereof, if applicable, shall
be equitably adjusted; and/or

 

(ii)       the
Committee shall make such equitable adjustments, if any, as the Committee in its discretion may deem appropriate to reflect such
Equity Restructuring with respect to the aggregate number and kind of shares that may be issued under the Plan (including, but
not limited to, adjustments of the limitations in Section 2.1 on the maximum number and kind of shares which may be issued under
the Plan and adjustments of the Award Limit). The adjustments provided under this Section 6.3(f) shall be nondiscretionary and
shall be final and binding on the affected Participant and the Company.

 

    7

     

    

 

6.4.          Tax
Withholding. The Company or any of its Subsidiaries shall have the authority and the right to deduct or withhold, or require
a Participant to remit to the Company, an amount sufficient to satisfy federal, state, local and foreign taxes (including the Participant’s
Federal Insurance Contributions Act obligation) required by law to be withheld with respect to any taxable event concerning a Participant
arising as a result of this Plan. The Committee may in its discretion and in satisfaction of the foregoing requirement allow a
Participant to elect to have the Company withhold shares of Common Stock otherwise issuable under an Award (or allow the return
of shares of Common Stock) having a Fair Market Value equal to the sums required to be withheld. Notwithstanding any other provision
of the Plan, the number of shares of Common Stock which may be withheld with respect to the issuance, vesting or payment of any
Award (or which may be repurchased from the Participant of such Award) in order to satisfy the Participant’s federal, state,
local and foreign income and payroll tax liabilities with respect to the issuance, vesting or payment of the Award shall be limited
to the number of shares which have a Fair Market Value on the date of withholding or repurchase equal to the aggregate amount of
such tax liabilities based on the minimum statutory withholding rates for federal, state, local and foreign income tax and payroll
tax purposes that are applicable to such supplemental taxable income.

 

6.5.          Forfeiture
and Claw-Back Provisions. Pursuant to its general authority to determine the terms and conditions applicable to Awards under
the Plan, the Committee shall have the right to provide, in an Award Agreement or otherwise, or to require a Participant to agree
by separate written or electronic instrument, that:

 

(a)            (i)
any proceeds, gains or other economic benefit actually or constructively received by the Participant upon any receipt of the Award,
or upon the receipt or resale of any shares underlying the Award, must be paid to the Company, and (ii) the Award shall terminate,
if (x) a Termination occurs prior to a specified date, or within a specified time period following receipt of the Award, or (y)
the Participant at any time, or during a specified time period, engages in any activity in competition with the Company, or which
is inimical, contrary or harmful to the interests of the Company, as further defined by the Committee or (z) the Participant incurs
a Termination for “cause” (as such term is defined in the sole discretion of the Committee, or as set forth in a written
agreement relating to such Award between the Company and the Participant); and

 

(b)           all
Awards (including any proceeds, gains or other economic benefit actually or constructively received by the Participant upon any
receipt of any Award or upon the receipt or resale of any shares underlying the Award) shall be subject to the provisions of any
claw-back policy implemented by the Company, including, without limitation, any claw-back policy adopted to comply with the requirements
of the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules or regulations promulgated thereunder, to the extent
set forth in such claw-back policy and/or in the applicable Award Agreement.

 

6.6.          Effect
of Plan upon Other Compensation Plans. The adoption of the Plan shall not affect any other compensation or incentive plans
in effect for the Company or any of its Subsidiaries. Nothing in the Plan shall be construed to limit the right of the Company
or any of its Subsidiaries: (a) to establish any other forms of incentives or compensation for Eligible Persons or any other Person,
or (b) to grant or assume rights or awards otherwise than under the Plan in connection with any proper corporate purpose.

 

6.7.          Compliance
with Laws. The Plan, the granting and vesting of Awards under the Plan and the issuance and delivery of shares of Common Stock
and the payment of money under the Plan or under Awards granted or awarded hereunder are subject to compliance with all applicable
federal, state, local and foreign laws, rules and regulations (including but not limited to federal, state and foreign securities
law and margin requirements) and to such approvals by any listing, regulatory or governmental authority as may, in the advice of
counsel for the Company, be necessary or advisable in connection therewith. Any securities delivered under the Plan shall be subject
to such restrictions, and the Person acquiring such securities shall, if requested by the Company, provide such assurances and
representations to the Company as the Company may deem necessary or desirable to assure compliance with all applicable legal requirements.
To the extent permitted by applicable law, the Plan and Awards granted or awarded hereunder shall be deemed amended to the extent
necessary to conform to such laws, rules and regulations.

 

    8

     

    

 

6.8.          Titles.
Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of the Plan.

 

6.9.          Governing
Law. The Plan and any agreements hereunder shall be administered, interpreted and enforced under the internal laws of the State
of Delaware without regard to conflicts of laws thereof.

 

6.10.        Section
409A. To the extent an Award is a Section 409A Covered Award, the Award is intended to comply with Section 409A of the Code
and, to the extent applicable, the Plan and Award Agreements shall be limited, construed and interpreted in accordance with Section
409A of the Code. Neither the Company, nor any of its Subsidiaries, shall be liable for any additional tax, interest or penalties
that may be imposed on a Participant by Section 409A of the Code or any damages for failing to comply with Section 409A of the
Code or this Section 6.10. Notwithstanding anything in the Plan or in an Award to the contrary, the following provisions shall
apply to Section 409A Covered Awards:

 

(a)       A
Termination shall not be deemed to have occurred for purposes of any provision of a Section 409A Covered Award providing for payment
upon or following a Participant’s Termination unless such Termination is also a “Separation from Service” within
the meaning of Code Section 409A and, for purposes of any such provision of Section 409A Covered Award, references to a “termination,”
“termination of employment” or like terms shall mean Separation from Service. Notwithstanding any provision to the
contrary in the Plan or the Award, if the Participant is deemed on the date of the Participant’s Termination to be a “specified
employee” within the meaning of that term under Code Section 409A(a)(2)(B) and using the identification methodology selected
by the Company from time to time, or if none, the default methodology set forth in Code Section 409A, then with regard to any such
payment under a Section 409A Covered Award, to the extent required to be delayed in compliance with Code Section 409A(a)(2)(B),
such payment shall not be made prior to the earlier of (i) the expiration of the six (6)-month period measured from the date of
the Participant’s Separation from Service, and (ii) the date of the Participant’s death. All payments delayed pursuant
to this Section 6.10(a) shall be paid to the Participant on the first day of the seventh month following the date of the Participant’s
Separation from Service or, if earlier, on the date of the Participant’s death.

 

(b)       Whenever
a payment under a Section 409A Covered Award specifies a payment period with reference to a number of days, the actual date of
payment within the specified period shall be within the sole discretion of the Company.

 

(c)       If
under the Section 409A Covered Award an amount is to be paid in two or more installments, for purposes of Code Section 409A, each
installment shall be treated as a separate payment.

 

Notwithstanding any provision of the Plan
to the contrary, the Committee may adopt such amendments to the Plan and outstanding Award Agreements or adopt other policies and
procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Committee
determines are necessary or appropriate to (x) exempt an Award from Section 409A of the Code and/or preserve the intended tax treatment
of the benefits provided with respect to the Award, or (y) comply with the requirements of Section 409A of the Code.

 

6.11.        Paperless
Administration. In the event that the Company establishes, for itself or using the services of a third party, an automated
system for the documentation, granting of Awards, such as a system using an internet website or interactive voice response, then
the paperless documentation, granting of Awards by a Participant may be permitted through the use of such an automated system.

 

6.12.        No
Rights to Awards. No Participant or other Person shall have any claim to be granted any Award pursuant to the Plan, and neither
the Company nor the Committee is obligated to treat Participants or any other Persons uniformly.

 

6.13.        Unfunded
Status of Awards. The Plan is intended to be an “unfunded” plan for incentive compensation. With respect to any
payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any program or Award Agreement shall
give the Participant any rights that are greater than those of a general creditor of the Company or any of its Subsidiaries.

 

    9

     

    

 

6.14.        Relationship
to other Benefits. No payment pursuant to the Plan shall be taken into account in determining any benefits under any pension,
retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any of its Subsidiaries except
to the extent otherwise expressly provided in writing in such other plan or an agreement thereunder.

 

6.15.        Expenses.
The expenses of administering the Plan shall be borne by the Company.

 

6.16.        Severability
of Provisions. If any provision of the Plan shall be held invalid or unenforceable, such invalidity or unenforceability shall
not affect any other provisions hereof, and the Plan shall be construed and enforced as if such provisions had not been included.

 

    10

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