Document:

Exhibit 10.23

    

    

    OBAGI GLOBAL HOLDINGS LIMITED

    

    

    SHARE OPTION AGREEMENT

    

    

    RECITALS

    

    

    A.          The Board has adopted the
        Plan for the purpose of retaining the services of selected Employees, non-employee members of the Board or the board of directors of any Subsidiary and consultants and other independent advisors in the service of the Company (or any Subsidiary).

    

    

    B.          Optionee is to render
        valuable services to the Company (or a Subsidiary), and this Agreement is executed pursuant to, and is intended to carry out the purposes of, the Plan in connection with the Company’s grant of an option to Optionee.

    

    

    NOW, THEREFORE, it is hereby
      agreed as follows:

    

    

    1.          Grant of Option.  The Company hereby grants to Optionee, as of the Grant Date, an option to purchase up to the number of Option Shares specified in the Grant
        Notice.  The Option Shares shall be purchasable from time to time during the option term specified in Paragraph 2 at the Exercise Price.

    

    

    2.          Option Term.  This option shall have a term of ten (10) years measured from the Grant Date and shall accordingly expire at the close of business on the
        Expiration Date, unless sooner terminated in accordance with Paragraph 5 or 6.

    

    

    3.          Limited Transferability.

    

    

    (a)          Except as provided in
        Section X of the Plan, this option, together with the Option Shares during the period prior to exercise, shall be neither transferable nor assignable by Optionee other than by will or the laws of inheritance following Optionee’s death and may be
        exercised, during Optionee’s lifetime, only by Optionee.

    

    

    (b)          Prior to the date the
        Company’s Shares  first become publicly traded on an established stock exchange , this option, together with the underlying unexercised Option Shares, shall not be the subject of any short position, put equivalent position (as such term is defined
        in Rule 16a-1(h) under the 1934 Act) or call equivalent position (as such term is defined Rule 16a-1(b) of the 1934 Act).

    

    

    (c)          Except as otherwise
        provided in Paragraph 3(a), until the date the Company first become publicly traded on an established stock exchange , this option, together with the underlying unexercised Option Shares, shall not be the subject of any pledges, gifts,
        hypothecations or other transfers, other than pursuant to the Company’s repurchase rights or in connection with a Change in Control in which this option shall terminate and cease to be outstanding.

    

    

    4.          Dates of Exercise.  This option shall become exercisable in one or more installments as specified in the Grant Notice.  As the option becomes exercisable for
        such installments, those installments shall accumulate and the option shall remain exercisable for the accumulated installments until the Expiration Date or sooner termination of the option term under Paragraph 5 or 6.

    
      
        

    

    
    

    

    5.          Cessation of Service.  The option term specified in Paragraph 2 shall terminate (and this option shall cease to be outstanding) prior to the Expiration Date
        should any of the following provisions become applicable:

    

    

    (a)          Should Optionee cease to
        remain in Service for any reason (other than death, Disability or Misconduct) while this option is outstanding, then Optionee shall have a period of three (3) months (commencing with the date of such cessation of Service) during which to exercise
        this option; ;provided, however, that if the vesting of any installment of such option is based upon the consummation of a Qualifying
        Transaction prior to the Expiration Date, which has not yet occurred, and all other vesting requirements with respect to such option have been fulfilled at the time of cessation of Service, then the Participant shall have forty-five (45) days from
        the date of a Qualifying Transaction during which to exercise any such installment of the option. Notwithstanding the foregoing, in no event shall this option be exercisable at any time after the Expiration Date.

    

    

    (b)          Should Optionee die
        while this option is outstanding, then the personal representative of Optionee’s estate or the person or persons to whom the option is transferred pursuant to Optionee’s will or the laws of inheritance following Optionee’s death shall have the
        right to exercise this option.  Any such right to exercise this option shall lapse, and this option shall cease to be outstanding, upon the  expiration of the twelve (12)-month period measured from the date of Optionee’s death; provided, however, that if the vesting of any installment of such option is based upon the consummation of a Qualifying Transaction prior to the
        Expiration Date, which has not yet occurred, and all other vesting requirements with respect to such option have been fulfilled at the time of cessation of Service, then the option shall lapse and cease to be outstanding upon the expiration of the
        twelve (12)-month period measured from the date a Qualifying Transaction is consummated. Notwithstanding the foregoing, in no event shall this option be exercisable at any time after the Expiration Date.

    

    

    (c)          Should Optionee cease
        Service by reason of Disability while this option is outstanding, then Optionee shall have a period of twelve (12) months (commencing with the date of such cessation of Service) during which to exercise this option, provided, however, that if the vesting of any installment of such option is based upon the consummation of a Qualifying Transaction prior to the Expiration Date, which has
        not yet occurred, and all other vesting requirements with respect to such option have been fulfilled at the time of cessation of Service, then the Participant shall have twelve 12 months from the date of a Qualifying Transaction in which the
        exercise any such option. Notwithstanding the foregoing, in no event shall this option be exercisable at any time after the Expiration Date.

    

    

    (d)          During the limited
        period of post-Service exercisability, this option may not be exercised in the aggregate for more than the number of Option Shares for which this option is, at the time of Optionee’s cessation of Service, vested and exercisable pursuant to the
        Vesting Schedule specified in the Grant Notice or the special vesting acceleration provisions of Paragraph 6.  This option shall not become exercisable for any additional Option Shares whether pursuant to the Vesting Schedule specified in the Grant
        Notice or the special vesting acceleration provisions of Paragraph 6, following Optionee’s cessation of Service, except to the extent (if any) specifically authorized by the Plan Administrator pursuant to an express written agreement with
        Optionee.  Upon the expiration of such limited exercise period or (if earlier) upon the Expiration Date, this option shall terminate and cease to be outstanding for any Option Shares for which the option has not been exercised.

    

    

    (e)          Should Optionee’s
        Service be terminated for Misconduct or should Optionee otherwise engage in Misconduct while this option is outstanding, then this option shall terminate immediately and cease to remain outstanding and any Option Shares received by Participant upon
        exercise of this option may be subject to recoupment by the Company in accordance with Section XI.F of the Plan.

    

    

    6.          Change in Control.  Should a Change in Control occur during Optionee’s period of Service, then this option will be subject to the provisions of Section XII of
        the Plan.

    
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    7.          Adjustment to Option Shares.  In the event of any of the following transactions affecting the outstanding Shares as a class without the Company’s receipt of
        consideration: any share split, share dividend, spin-off transaction, extraordinary distribution (whether in cash, securities or other property), recapitalization, combination of shares, exchange of shares or other similar transaction affecting the
        Shares without the Company’s receipt of consideration or in the event of a substantial reduction to the value of the outstanding Shares as a result of a spin-off transaction or extraordinary distribution or should there occur any merger,
        consolidation, reincorporation, or other reorganization, then equitable adjustments shall be made to (i) the total number and/or class of securities subject to this option and (ii) the Exercise Price.  The adjustments shall be made by the Plan
        Administrator in such manner as the Plan Administrator deems appropriate in order to reflect such change, and those adjustments shall be final, binding and conclusive.

    

    

    8.          Shareholder Rights.  The holder of this option shall not have any shareholder rights with respect to the Option Shares until such person shall have exercised
        the option, paid the Exercise Price and become the record holder of the purchased shares.

    

    

    9.          Manner of Exercising Option.

    

    

    (a)          In order to exercise
        this option with respect to all or any part of the Option Shares, Optionee (or any other person or persons exercising the option) must take the following actions:

    

    

    (i)          Execute and deliver to
        the Company a Notice of Exercise for the Option Shares for which the option is exercised.

    

    

    (ii)          Pay the aggregate
        Exercise Price for the purchased shares in one or more of the following forms:

    

    

    (A)          cash or check made
        payable to the Company;

    

    

    (B)          should the Shares be
        publicly traded on an established stock exchange at the time this option is exercised, in Shares valued at Fair Market Value on the Exercise Date and held for the period (if any) necessary to avoid a charge to the Company’s earnings for financial
        reporting purposes; or

    

    

    (C)          should the Shares be
        publicly traded on an established stock exchange at the time this option is exercised, through a special sale and remittance procedure pursuant to which Optionee shall concurrently provide irrevocable instructions (A) to a brokerage firm (with such
        brokerage firm reasonably satisfactory to the Company for purposes of administering such procedure in compliance with any applicable pre-clearance or pre-notification requirements) to effect the immediate sale of the purchased shares and remit to
        the Company, out of the sale proceeds available on the settlement date, sufficient funds to cover the aggregate Exercise Price payable for the  purchased shares plus all applicable taxes required to be withheld by the Company by reason of such
        exercise and (B) to the Company to deliver the certificates for the purchased shares directly to such brokerage firm on the settlement date in order to complete the sale.

    

    

    Except to the extent the sale and remittance procedure is utilized in connection with the option exercise, payment of the Exercise
      Price must accompany the Notice of Exercise delivered to the Company in connection with the option exercise.

    
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    (iii)          Furnish to the Company
        appropriate documentation that the person or persons exercising the option (if other than Optionee) have the right to exercise this option.

    

    

    (iv)          Execute and deliver to
        the Company such written representations as may be requested by the Company in order for it to comply with the applicable requirements of applicable securities laws.

    

    

    (v)          Make appropriate
        arrangements with the Company (or Subsidiary employing or retaining Optionee) for the satisfaction of all applicable tax withholding requirements applicable to the option exercise.

    

    

    (vi)          As soon as practical
        after the Exercise Date, the Company shall issue to or on behalf of Optionee (or any other person or persons exercising this option) a certificate for the purchased Option Shares, with the appropriate legends affixed thereto.

    

    

    (b)          In no event may this
        option be exercised for any fractional shares.

    

    

    10.          RIGHTS OF FIRST REFUSAL.  ALL OPTION SHARES ACQUIRED UPON THE
          EXERCISE OF THIS OPTION SHALL BE SUBJECT TO CERTAIN RIGHTS OF THE COMPANY AND ITS ASSIGNS TO REPURCHASE THOSE SHARES IN ACCORDANCE WITH THE TERMS SPECIFIED IN THE PLAN AND/OR THE NOTICE OF EXERCISE.

    

    

    11.          Compliance with Laws and Regulations.

    

    

    (a)          The exercise of this
        option and the issuance of the Option Shares upon such exercise shall be subject to compliance by the Company and Optionee with all applicable requirements of law relating thereto and with all applicable regulations of any stock exchange on which
        the Shares may be listed for trading at the time of such exercise and issuance.

    

    

    (b)          The inability of the
        Company to obtain approval from any regulatory body having authority deemed by the Company to be necessary to the lawful issuance and sale of any Shares pursuant to this option shall relieve the Company of any liability with respect to the
        non-issuance or sale of the Shares as to which such approval shall not have been obtained.  The Company, however, shall use its best efforts to obtain all such approvals.

    

    

    12.          Successors and Assigns.  Except to the extent otherwise provided in Paragraphs 3 and 6, the provisions of this Agreement shall inure to the benefit of, and be
        binding upon, the Company and its successors and assigns and Optionee, Optionee’s assigns and the legal representatives, heirs and legatees of Optionee’s estate.

    

    

    13.          Notices.  Any notice required to be given or delivered to the Company under the terms of this Agreement shall be in writing and addressed to the Company at its
        principal corporate offices.  Any notice required to be given or delivered to Optionee shall be in writing and addressed to Optionee at the address indicated below Optionee’s signature line on the Grant Notice.  All notices shall be deemed
        effective upon personal delivery or upon deposit in the U.S. mail, postage prepaid and properly addressed to the party to be notified.

    

    

    14.          Construction.  This Agreement and the option evidenced hereby are made and granted pursuant to the Plan and are in all respects limited by and subject to the
        terms of the Plan.  All decisions of the Plan Administrator with respect to any question or issue arising under the Plan or this Agreement shall be conclusive and binding on all persons having an interest in this option.

    

    

    15.          Governing Law.  The interpretation, performance and enforcement of this Agreement shall be governed by the laws of Delaware without resort to that state’s
        conflict-of-laws rules.

    
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    16.          Shareholder Approval.  If the Option Shares covered by this Agreement exceed, as of the Grant Date, the number of Shares that may be issued under the Plan as
        last approved by the shareholders, then this option shall be void with respect to such excess shares, unless shareholder approval of an amendment sufficiently increasing the number of Shares issuable under the Plan is obtained in accordance with
        the provisions of the Plan.

    

    

    17.          Code 409A Waiver and Release.

    

    

    (a)          Optionee hereby agrees
        and acknowledges that the Board has taken reasonable steps to value the Shares and to set the Exercise Price at the fair market value per Share on the Grant Date so that the option will not be treated as an item of deferred compensation subject to
        Code Section 409A.  However, because the Shares are not readily tradable on an established securities market, there can be no assurance that the Exercise Price is at least equal to the fair market value per Share on the Grant Date.  Were the
        Internal Revenue Service to conclude that the Exercise Price is in fact less than such fair market value and that the option is accordingly subject to Code Section 409A, then Optionee would be subject to the following adverse tax consequences:

    

    

    (i)          As the option vests in
        accordance with the Vesting Schedule, Optionee would immediately recognize taxable income for federal income tax purposes equal to the amount by which the fair market value of the Option Shares which vest at that time exceeds the Exercise Price
        payable for those shares.  The Company would also have to collect from Optionee the federal income and employment taxes which must be withheld on that income.  Taxation would occur in this manner even though the option remains unexercised.

    

    

    (ii)          Optionee may also be
        subject to additional income taxation and withholding taxes on any subsequent increases to the fair market value of the Option Shares purchasable under the vested option until the option is exercised or cancelled as to those Option Shares.

    

    

    (iii)          In addition to normal
        income taxes payable as the option vests, Optionee would also be subject to an additional tax penalty equal to 20% of the amount of income Optionee recognizes under Code Section 409A when the option vests and may also be subject to such penalty as
        the underlying Option Shares subsequently increase in fair market value over the period the option continues to remain outstanding.

    

    

    (iv)          There will also be
        interest penalties if the resulting taxes are not paid on a timely basis.

    

    

    (b)          Optionee hereby further
        agrees and acknowledges that Optionee may incur the same or similar tax consequences, including (without limitation) a second penalty tax, under state income tax laws.  Optionee accepts the risk of any unfavorable tax consequences under applicable
        state laws to options granted with an Exercise Price less than the fair market value of the Option Shares on the Grant Date.

    

    

    (c)          Optionee hereby agrees
        to bear the entire risk of such adverse federal and state tax consequences in the event the option is deemed to be subject to Code Section 409A and hereby knowingly and voluntarily, in consideration for the grant of the option, waives and releases
        any and all claims or causes of action that Optionee might otherwise have against the Company and/or its Board, officers, employees or shareholders arising from or relating to the tax treatment of the option under Code Section 409A and the
        corresponding provisions of any applicable state income tax laws and shall not seek any indemnification or other recovery of damages against the Company and/or its Board, officers, employees or shareholders with respect to any adverse federal and
        state tax consequences or other related costs and expenses Optionee may in fact incur under Code Section 409A (or the corresponding provisions of state income tax laws) as a result of the option.

    
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    18.          Additional Terms Applicable to an Incentive Option.  In the event this option is designated an Incentive Option in the Grant Notice, the following terms and
        conditions shall also apply to the grant:

    

    

    (a)          This option shall cease
        to qualify for favorable tax treatment as an Incentive Option if (and to the extent) this option is exercised for one or more Option Shares:  (i) more than three (3) months after the date Optionee ceases to be an Employee for any reason other than
        death or Disability or (ii) more than twelve (12) months after the date Optionee ceases to be an Employee by reason of Disability.

    

    

    (b)          No installment under
        this option shall qualify for favorable tax treatment as an Incentive Option if (and to the extent) the aggregate fair market value (determined at the Grant Date) of the Shares for which such installment first becomes exercisable hereunder would,
        when added to the aggregate value (determined as of the respective date or dates of grant) of any earlier installments of the Shares and any other securities for which this option or any other Incentive Options granted to Optionee prior to the
        Grant Date (whether under the Plan or any other option plan of the Company or any Subsidiary) first become exercisable during the same calendar year, exceed One Hundred Thousand Dollars ($100,000) in the aggregate.  Should such One Hundred Thousand
        Dollar ($100,000) limitation be exceeded in any calendar year, this option shall nevertheless become exercisable for the excess shares in such calendar year as a Non-Statutory Option.

    

    

    (c)          Should Optionee hold, in
        addition to this option, one or more other options to purchase Shares which become exercisable for the first time in the same calendar year as this option, then for purposes of the foregoing limitations on the exercisability of such options as
        Incentive Options, this option and each of those other options shall be deemed to become first exercisable in that calendar year on the basis of the chronological order in which they were granted, except to the extent otherwise provided under
        applicable law or regulation.

    

    

    19.          Electronic Delivery.  The Company may, in its sole discretion, decide to deliver by email or other electronic means any documents related to Optionee’s current
        or future participation in the Plan, this option, the Option Shares, any other securities of the Company or any other Company-related documents, including notices to shareholders required by applicable law, the Company’s Certificate of
        Incorporation and/or Memorandum and Articles of Association.  Optionee hereby (i) consents to receive such documents by email or other electronic means, (ii) consents to the use of electronic signatures, and (iii) if applicable, agrees to
        participate in the Plan and/or receive any such documents related to the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.  The Company may deliver the above-described
        documents to Optionee by sending a communication to Optionee’s email address set forth under Optionee’s signature on the Grant Notice or, if no email address is set forth on the Grant Notice, to the last email address for Optionee the Company has
        on file.

    

    

    20.          Definitions.  All capitalized terms used but not defined herein shall have the meanings given to them in the Plan. In addition, the following definitions shall
        be in effect under the Agreement:

    

    

    (a)          Agreement shall mean this Share Option Agreement.

    
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    (b)          Exercise Date shall mean the date on which the option shall have been exercised in accordance with Paragraph 9 of the Agreement.

    

    

    (c)          Exercise Price shall mean the exercise price payable per Option Share as specified in the Grant Notice.

    

    

    (d)          Expiration Date shall mean the date on which the option expires as specified in the Grant Notice.

    

    

    (e)          Grant Date shall mean the date of grant of the option as specified in the Grant Notice.

    

    

    (f)          Grant Notice shall mean the Notice of Grant of Share Option accompanying the Agreement, pursuant to which Optionee has been informed of the basic terms of the
        option evidenced hereby.

    

    

    (g)          1934 Act shall mean the Securities Exchange Act of 1934, as amended.

    

    

    (h)          Notice of Exercise shall mean the notice of exercise and purchase agreement in substantially the form of Exhibit B to the Grant Notice.

    

    

    (i)          Option Shares shall mean the number of Shares subject to the option.

    

    

    (j)          Optionee shall mean the person to whom the option is granted as specified in the Grant Notice.

    

    

    (k)          Plan shall mean the Company’s 2021 Share Incentive Plan.

    

    

    (l)

    

    

    (m)          Vesting Schedule shall mean the vesting schedule specified in the Grant Notice pursuant to which this option is to vest and become exercisable for the Option
        Shares in a series of installments over Optionee’s period of Service.

  

   

    

  7Exhibit 10.24

    

    

    OBAGI GLOBAL HOLDINGS LIMITED

    

    

    RESTRICTED STOCK UNIT ISSUANCE AGREEMENT

    

    

    RECITALS

    

    

    A.          The Board has adopted the
        Plan for the purpose of retaining the services of selected Employees and non-employee members of the Board or the board of directors of any Subsidiary.

    

    

    B.          The Participant is to
        render valuable services to the Company (or a Subsidiary), and this Agreement is executed pursuant to, and is intended to carry out the purposes of, the Plan in connection with the Company’s grant of an equity incentive award under the Plan to the
        Participant.

    

    

    NOW, THEREFORE, it is hereby
      agreed as follows:

    

    

    1.          Grant of RSUs.  The Company hereby grants to the Participant, as of the Grant Date, an award of restricted stock units (“RSUs”) under the Plan (the “Award”). 
        Each RSU represents the right to receive one Share on the specified issuance date following the vesting of that RSU.  The number of RSUs subject to the Award, the applicable vesting schedule for those RSUs, the date on which Shares underlying those
        vested RSUs shall become issuable to the Participant and the remaining terms and conditions governing the Award shall be as set forth in this Agreement.

    

    

    AWARD SUMMARY

     

    

    	
            Grant Date:

          	 
	 	 
	
            Number of RSUs Subject to Award:

          	
            __________

          
	 	 
	
            Vesting Schedule:

          	
            [The RSUs shall vest in a series of five equal, successive, annual installments upon the Participant’s completion of each year of Service over the
              five (5) year period measured from the Grant Date; provided, however, that prior to the consummation of a Qualifying Transaction, no RSUs
              shall vest until the date that a Qualifying Transaction is consummated, at which time any RSUs that have met the Service based vesting requirement shall vest in full. Notwithstanding the foregoing, no RSUs shall vest after the 10th
              anniversary of the Grant Date set forth above.]

          
	 	 
	
            Issuance Schedule:

          	
            The Shares underlying the RSUs in which the Participant vests in accordance with the vesting schedule above (the “Issued Shares”) shall be issued,
              subject to the Company’s collection of all applicable Withholding Taxes, on the date those particular RSUs vest or as soon after that scheduled vesting date as administratively practicable, but in no event later than the later of (i) the
              close of the calendar year in which such vesting date occurs or (ii) the fifteenth day of the third calendar month following such vesting date (the “Issue Date”).  The issuance of the Shares shall be subject to the Company’s collection of all
              applicable Withholding Taxes.  The procedures pursuant to which the applicable Withholding Taxes are to be collected are set forth in Paragraph 9 of this Agreement.

          

    

    

    
      
        

    

    
    

    

    2.          Restrictions on Transfer.  Prior to the actual issuance of the Shares pursuant to RSUs that vest hereunder, the Participant may not transfer any interest in the
        Award or the underlying Shares.  Following the issuance of the Issued Shares upon vesting of the RSUs, such Issued Shares shall be subject to the Market Stand-Off and First Refusal Right, as well any restrictions on transfer and right of recoupment
        set forth in Section XI of the Plan.

    

    

    3.          Cessation of Service.  Should the Participant cease Service for any reason prior to vesting in one or more RSUs subject to this Award, then the Award will be
        immediately cancelled with respect to those unvested RSUs, and the number of RSUs will be reduced accordingly, except (i) if the vesting of such RSUs is based upon the consummation of a Qualifying Transaction, which has not yet occurred, and all
        other vesting requirements with respect to such RSUs have been met, then such RSUs shall not terminate and may be retained by Participant until the consummation of a Qualifying Transaction prior to the 10th anniversary of the Grant Date,
        at which time the underlying Shares will vest, and (ii)  to the extent (if any) otherwise specifically authorized by the Plan Administrator in its sole discretion pursuant to an express written agreement with the Participant. The Participant shall
        thereupon cease to have any right or entitlement to receive any Shares under those cancelled RSUs.

    

    

    4.          Change in Control. Should a Change in Control occur during the Participant’s period of Service, then any RSUs subject to this Award at the time of the Change in
        Control shall be subject to the provisions of Section XII of the Plan.

    

    

    5.          Adjustment in Shares.  Should any change be made to the Shares by reason of any stock split, stock dividend, spin-off transaction, extraordinary distribution
        (whether in cash, securities or other property), recapitalization, combination of shares, exchange of shares or other similar transaction affecting the outstanding Shares without the Company’s receipt of consideration or in the event of a
        substantial reduction to the value of the outstanding Shares by reason of a spin-off transaction or extraordinary distribution or in the event of any merger, consolidation, reincorporation, or other reorganization, then equitable adjustments shall
        be made to the total number and/or class of securities issuable pursuant to this Award in such manner as the Plan Administrator deems appropriate in order to reflect such change, and those adjustments shall be final, binding and conclusive.

    

    

    6.          Shareholder Rights.  The Participant shall not have any shareholder rights, including voting or dividend rights, with respect to
        the Shares underlying the RSUs subject to the Award until the Participant becomes the record holder of those Shares following their actual issuance upon the Company’s collection of the applicable Withholding Taxes.

    
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    7.          US Securities Law Compliance.

    

    

    (a)          Restricted Securities.  The Issued Shares may not be registered under the 1933 Act (or comparable foreign statute) in which case they will be issued to the
        Participant in reliance upon the exemption from such registration provided by SEC Rule 701 for share issuances under compensatory benefit plans such as the Plan (or an exemption from any applicable foreign statute).  The Participant hereby confirms
        that the Participant has been informed that the Issued Shares will be restricted securities under the 1933 Act and may not be resold or transferred unless the Issued Shares are first registered  under the US Federal securities laws (or comparable
        foreign statute) or unless an exemption from such registration is available.  Accordingly, the Participant hereby acknowledges that the Participant will hold the Issued Shares for investment purposes only and not with a view to resale and is
        prepared to hold the Issued Shares for an indefinite period and that the Participant is aware that SEC Rule 144 issued under the 1933 Act, which exempts certain resales of unrestricted securities, is not presently available to exempt the resale of
        the Issued Shares from the registration requirements of the 1933 Act.

    

    

    (b)          Restrictions on Disposition of Issued Shares.  The Participant shall make no disposition of the Issued Shares unless and until there is compliance with all of
        the following requirements:

    

    

    (i)          The
        Participant shall have provided the Company with a written summary of the terms and conditions of the proposed disposition.

    

    

    (ii)          The
        Participant shall have complied with all requirements of this Agreement applicable to the disposition of the Issued Shares.

    

    

    (iii)        The
        Participant shall have provided the Company with written assurances, in form and substance satisfactory to the Company, that (A) the proposed disposition does not require registration of the Issued Shares under the 1933 Act (or comparable foreign
        statute) or (B) all appropriate action necessary for compliance with the registration requirements of the 1933 Act (or comparable foreign statute) or any exemption from registration available under the 1933 Act including Rule 144 (or comparable
        foreign statute) has been taken.

    

    

    The Company shall not be required (i) to
      transfer on its books any Issued Shares that have been sold or transferred in violation of the provisions of this Agreement or (ii) to treat as the owner of
      the Issued Shares, or otherwise to accord voting, dividend or liquidation rights to, any transferee to whom the Issued Shares have been transferred in contravention of this Agreement.

    

    

    (c)          Restrictive Legends.  The share certificates for the Issued Shares shall be endorsed with one or more of the following restrictive legends:

    

    

    “The shares represented by this certificate have not been registered under the Securities Act of 1933 (or comparable
      foreign statute).  The shares may not be sold or offered for sale in the absence of (a) an effective registration statement for the shares under such Act (or comparable foreign statute), (b) a ‘no action’ letter of the Securities and Exchange
      Commission (or comparable foreign governmental authority) with respect to such sale or offer or (c) satisfactory assurances to the Company that registration under such Act (or comparable foreign statute) is not required with respect to such sale or
      offer.”

    
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    “The shares represented by this certificate are subject to certain repurchase rights and rights of first refusal
      granted to the Company and accordingly may not be sold, assigned, transferred, encumbered, or in any manner disposed of except in conformity with the terms of a written agreement dated ____________, 20___ between the Company and the registered holder
      of the shares (or the predecessor in interest to the shares).  A copy of such agreement is maintained at the Company’s principal corporate offices.”

    

    

    8.          Transfer Restrictions for Issued Shares.

    

    

    (a)          Market Stand-Off.

    

    

    (i)          In
        connection with any underwritten public offering by the Company of its equity securities, including the Company’s initial public offering, the Participant shall not, without the prior written consent of the Company or its underwriters in such
        public offering: (A) sell, make any short sale of, loan, hypothecate, pledge, grant any option for the purchase of, or otherwise dispose or transfer for value or otherwise agree to engage in any of the foregoing transactions with respect to, any
        Issued Shares; or (B) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of Issued Shares.  Such restriction (the “Market Stand-Off”) shall be in effect for such
        period of time from and after the effective date of the final prospectus for the offering as may be requested by the Company or such underwriters.  In no event, however, shall such period exceed one hundred eighty (180) days, or such longer period
        as may be requested by the Company or an underwriter to accommodate regulatory restrictions on (1) the publication or other distribution of research reports and (2) analyst recommendations and opinions, including, but not limited to, the
        restrictions contained in the applicable rules of the Financial Industry Regulatory Authority, Inc. and any applicable stock exchange, or any successor provisions or amendments thereto).  The Market Stand-Off shall in no event be applicable to any
        underwritten public offering effected more than two (2) years after the effective date of the Company’s initial public offering.  The managing underwriters in connection with any such public offering are intended third-party beneficiaries of this
        Section 8(a) and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto.  The Participant further agrees to execute such agreements as may be reasonably requested by the underwriters in
        connection with such public offering that are consistent with this Section 8(a) or that are necessary to give further effect thereto.

    

    

    (ii)          Any
        new, substituted or additional securities that are by reason of any Recapitalization or Reorganization distributed with respect to the Issued Shares shall be immediately subject to the Market Stand-Off, to the same extent such Issued Shares are at
        such time covered by such provisions.

    

    

    (iii)          In
        order to enforce the Market Stand-Off, the Company may impose stop-transfer instructions with respect to the Issued Shares until the end of the applicable stand-off period.

    
      4

      
        

    

    

    

    (b)          Right of First Refusal.

    

    

    (i)          Grant.  The Company is hereby granted the right of first refusal (the “First Refusal Right”), exercisable in connection with any proposed
        transfer of the Issued Shares.  For purposes of this Paragraph 8(b), the term “transfer” shall include any sale, assignment, pledge, encumbrance or other disposition of the Issued Shares intended to be made by the Participant.

    

    

    (ii)          Notice of Intended Disposition.  In the event the Participant desires to accept a bona fide third-party offer for the transfer of any or all
        of such Issued Shares (the Issued Shares subject to such offer to be hereinafter referred to as the “Target Shares”), the Participant shall promptly (A) deliver to the Company written notice (the “Disposition Notice”) of the terms of the offer,
        including the purchase price and the identity of the third-party offeror, and (B) provide satisfactory proof that the disposition of the Target Shares to such third-party offeror would not be in contravention of the provisions set forth in this
        Agreement.

    

    

    (iii)          Exercise of the First Refusal Right.  The Company shall, for a period of twenty-five (25) days following receipt of the Disposition Notice,
        have the right to repurchase any or all of the Target Shares subject to the Disposition Notice upon the same terms as those specified therein or upon such other terms (not materially different from those specified in the Disposition Notice) to
        which the Participant consents.  Such right shall be exercisable by delivery of written notice (the “Exercise Notice”) to the Participant prior to the expiration of the twenty-five (25)-day exercise period.  If such right is exercised with respect
        to all the Target Shares, then the Company shall effect the repurchase of such shares, including payment of the purchase price, not more than five (5) business days after delivery of the Exercise Notice; and at such time the certificates
        representing the Target Shares shall be delivered to the Company.

    

    

    Should the purchase price specified in the Disposition Notice be payable in property other than cash or evidences of
      indebtedness, the Company shall have the right to pay the purchase price in the form of cash equal in amount to the value of such property.  If the Participant and the Company cannot agree on such cash value within ten (10) days after the Company’s
      receipt of the Disposition Notice, the valuation shall be made by an appraiser of recognized standing selected by the Participant and the Company or, if they cannot agree on an appraiser within twenty (20) days after the Company’s receipt of the
      Disposition Notice, each shall select an appraiser of recognized standing and the two (2) appraisers shall designate a third appraiser of recognized standing, whose appraisal shall be determinative of such value.  The cost of such appraisal shall be
      shared equally by the Participant and the Company.  The closing shall then be held on the later of (i) the fifth (5th) business day following delivery of the
      Exercise Notice or (ii) the fifth (5th) business day after such valuation shall have been made.

    
      5

      
        

    

    

    

    (iv)          Non-Exercise of the First Refusal Right.  In the event the Exercise Notice is not given to the Participant prior to the expiration of the
        twenty-five (25)-day exercise period, the Participant shall have a period of thirty (30) days thereafter in which to sell or otherwise dispose of the Target Shares to the third-party offeror identified in the Disposition Notice upon terms
        (including the purchase price) no more favorable to such third-party offeror than those specified in the Disposition Notice; provided, however, that any
        such sale or disposition must not be effected in contravention of the provisions of Paragraphs 7 and 8(a).  The third-party offeror shall acquire the Target Shares subject to the First Refusal Right and the provisions and restrictions of Paragraph
        7 and Paragraph 8(a), and any subsequent disposition of the acquired shares must be effected in compliance with the terms and conditions of such First Refusal Right and the provisions and restrictions of Paragraph 7 and Paragraph 8(a).  In the
        event the Participant does not effect such sale or disposition of the Target Shares within the specified thirty (30)-day period, the First Refusal Right shall continue to be applicable to any subsequent disposition of the Target Shares by the
        Participant until such right lapses.

    

    

    (v)          Partial Exercise of the First Refusal Right.  In the event the Company makes a timely exercise of the First Refusal Right with respect to a
        portion, but not all, of the Target Shares specified in the Disposition Notice, the Participant shall have the option, exercisable by written notice to the Company delivered within five (5) business days after the Participant’s receipt of the
        Exercise Notice, to effect the sale of the Target Shares pursuant to either of the following alternatives:

    

    

    a.          sale
        or other disposition of all the Target Shares to the third-party offeror identified in the Disposition Notice, but in full compliance with the requirements of Paragraph 8(b)(iv), as if the Company did not exercise the First Refusal Right; or

    

    

    b.          sale
        to the Company of the portion of the Target Shares which the Company has elected to purchase, such sale to be effected in substantial conformity with the provisions of Paragraph 8(b)(iii).  The First Refusal Right shall continue to be applicable to
        any subsequent disposition of the remaining Target Shares until such right lapses

    

    

    The Participant’s failure to deliver timely notification to the Company shall be deemed to be an election by the
      Participant to sell the Target Shares pursuant to alternative (a) above.

    

    

    (vi)          Recapitalization/Reorganization.

    

    

    a.          Any
        new, substituted or additional securities or other property which is by reason of any Recapitalization distributed with respect to the Issued Shares shall be immediately subject to the First Refusal Right, but only to the extent the Issued Shares
        are at the time covered by such right.

    
      6

      
        

    

    

    

    b.          In the
        event of a Reorganization, the First Refusal Right shall remain in full force and effect and shall apply to the new capital stock or other property received in exchange for the Issued Shares in consummation of the Reorganization, but only to the
        extent the Issued Shares are at the time covered by such right.

    

    

    (vii)          Lapse.  The First Refusal Right shall lapse upon the earliest
        to occur of (A) the first date on which Shares are held of record by more than two thousand (2,000) persons or more than five hundred (500) persons who are not accredited investors, (B) a determination made by the Board that a public market exists
        for the outstanding Shares or (C) a firm commitment underwritten public offering covering the offer and sale of the Shares in the aggregate amount of at least twenty million dollars ($20,000,000).  However, the Market Stand-Off shall continue to
        remain in full force and effect following the lapse of the First Refusal Right.

    

    

    9.          Withholding of Taxes.

    

    

    (a)          Upon the applicable
        Issue Date, the Company shall issue to or on behalf of the Participant a certificate (which may be in electronic form) for the applicable number of Shares, subject, however, to the Company’s collection of the applicable Withholding Taxes. The
        Company shall have the right to require the Participant to pay to the Company the amount of any Withholding Taxes in respect of the Shares or to take whatever action it deems necessary to protect the interests of the Company in respect of such
        Withholding Tax liabilities, in accordance with this Paragraph 9.

    

    

    (b)          Until such time as the
        Company determines otherwise, the Company shall satisfy the Company’s obligation for Withholding Taxes by withholding from the Shares otherwise deliverable to the Participant a number of whole Shares having a Fair Market Value as of the Issue Date,
        not in excess of the amount of such Withholding Taxes determined by using the applicable minimum statutory withholding rates, or such other amount or rate determined by the Company.

    

    

    (c)          Notwithstanding the
        provisions of subparagraph (b) of this Paragraph 9, the employee portion of the federal, state and local employment taxes required to be withheld by the Company in connection with the vesting of the RSUs (the “Employment Taxes”) shall in all events
        be collected from the Participant no later than the last business day of the calendar year in which the RSUs vest hereunder.  Accordingly, to the extent the Issue Date for one or more vested RSUs is to occur in a year subsequent to the calendar
        year in which those RSUs vest, the Participant shall, on or before the last business day of the calendar year in which the RSUs vest, deliver to the Company a check payable to its order in the dollar amount equal to the Employment Taxes required to
        be withheld with respect to those RSUs.  The provisions of this Paragraph 9(c) shall be applicable only to the extent necessary to comply with the applicable tax withholding requirements of Code Section 3121(v).

    
      7

      
        

    

    

    

    (d)          Except as otherwise
        provided in Paragraph 4, the settlement of all RSUs that vest under the Award shall be made solely in Shares.  In no event, however, shall any fractional Shares be issued.  Accordingly, the total number of Shares to be issued pursuant to the Award
        shall, to the extent necessary, be rounded down to the next whole Share in order to avoid the issuance of a fractional Share.

    

    

    10.          Compliance with Laws and Regulations.

    

    

    (a)          The issuance of Shares
        pursuant to the Award shall be subject to compliance by the Company and the Participant with all applicable requirements of law relating thereto and with all applicable regulations of any stock exchange on which the Shares may be listed for trading
        at the time of such issuance.

    

    

    (b)          The inability of the
        Company to obtain approval from any regulatory body having authority deemed by the Company to be necessary to the lawful issuance and sale of any Shares pursuant to this Award shall relieve the Company of any liability with respect to the
        non-issuance or sale of the Shares as to which such approval shall not have been obtained.  The Company, however, shall use its best efforts to obtain all such approvals.

    

    

    11.          Successors and Assigns.  Except to the extent otherwise provided in
            this Agreement, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the Company and its successors and assigns and the Participant, the Participant’s assigns and the legal representatives, heirs and legatees of the Participant’s estate.

    

    

    12.          Notices.  Any notice required to be given or delivered to the
            Company under the terms of this Agreement shall be in writing and addressed to the Company at its principal corporate offices.  Any notice required to be given or delivered to the Participant shall be in writing and addressed to the Participant
            at the address indicated below the Participant’s signature line on
            this Agreement.  All notices shall be deemed effective upon personal delivery or upon deposit in the U.S. mail, postage prepaid and properly addressed to the party to be notified.

    

    

    13.          Construction.  This Agreement and the Award evidenced hereby are
            made and granted pursuant to the Plan and are in all respects limited by and subject to the terms of the Plan.  All decisions of the Plan Administrator with respect to any question or issue arising under the Plan or this Agreement shall be
            conclusive and binding on all persons having an interest in this Award.  To the extent there is any ambiguity as to whether any provision of this Agreement would otherwise contravene one or more applicable requirements or limitations of Code
            Section 409A and the Treasury Regulations thereunder, such provision shall be interpreted and applied in a manner that complies with the applicable requirements of Code Section 409A and the Treasury Regulations thereunder.  For purposes of Code
            Section 409A, each installment distribution of Shares (or other installment distribution hereunder) shall be treated as a separate payment, and the Participant’s right to receive each such installment of shares (or other installment distribution hereunder) shall accordingly be treated as a right to receive a series of
            separate payments.

    

    

    14.          Governing Law.  The interpretation, performance and enforcement of
            this Agreement shall be governed by the laws of Delaware without resort to that state’s conflict-of-laws rules.

    

    

    15.          Shareholder Approval.  If the Shares covered by this Agreement exceed, as of the Grant Date, the number of Shares that may be issued under the Plan as
          last approved by the shareholders, then this Award shall be void with respect to such excess Shares, unless shareholder approval of an amendment sufficiently increasing the number of Shares issuable under the Plan is obtained in accordance with
          the provisions of the Plan.

    
      8

      
        

    

    

    

    16.          Employment at Will.  Nothing in this Agreement or in the Plan shall confer upon the Participant any right to continue in Service for any period of specific
        duration or interfere with or otherwise restrict in any way the rights of the Company (or any Subsidiary employing or retaining the Participant) or of the Participant, which rights are hereby expressly reserved by each, to terminate the
        Participant’s Service at any time for any reason, with or without cause.

    

    

    17.          Definitions.  All capitalized terms used but not defined herein shall have the meanings given to them in the Plan. In addition, the following definitions shall
        be in effect under the Agreement:

    

    

    (a)          Agreement shall mean this Restricted Stock Unit Issuance Agreement.

    

    

    (b)          Award shall mean the award of RSUs made to the Participant pursuant to the terms of this Agreement.

    

    

    (c)          Disposition Notice shall have the meaning assigned to such term in Paragraph 8(b)(ii).

    

    

    (d)          First Refusal Right shall mean the right granted to the Company in accordance with Paragraph 8(b)(i).

    

    

    (e)          Grant Date shall mean the date the RSUs are awarded to Participant pursuant to the Agreement and shall be the date indicated in Paragraph 1 of the Agreement.

    

    

    (f)          Issue Date shall have the meaning indicated in Paragraph 1 of the Agreement.

    

    

    (g)          Issued Shares shall have the meaning set forth in Paragraph 1.

    

    

    (h)          Market Stand-Off shall mean the market stand-off restriction specified in Paragraph 8(a).

    

    

    (i)          Plan shall mean the Company’s 2021 Stock Incentive Plan.

    

    

    (j)          Recapitalization shall mean any of the following transactions affecting the Company’s outstanding Shares as a class without the Company’s receipt of
        consideration: any share split, share dividend, spin-off transaction, extraordinary distribution (whether in cash, securities or other property), recapitalization, reincorporation, combination of shares, exchange of shares or other similar
        transaction affecting the Shares without the Company’s receipt of consideration.

    
      9

      
        

    

    

    

    (k)          Reorganization shall mean any of the following transactions:

    

    

    (i)          a
        merger or consolidation in which the Company is not the surviving entity,

    

    

    (ii)          a
        sale, transfer or other disposition of all or substantially all of the Company’s assets,

    

    

    (iii)          a
        reverse merger in which the Company is the surviving entity but in which the Company’s outstanding voting securities are transferred in whole or in part to a person or persons different from the persons holding those securities immediately prior to
        the merger, or

    

    

    (iv)          any
        transaction effected primarily to change the state in which the Company is incorporated or to create a holding company structure.

    

    

    (l)          RSU shall have the meaning set forth in Paragraph 1 of the Agreement.

    

    

    (m)        Target Shares shall have the meaning set forth in Paragraph 8(b)(ii).

    

    

    (n)          Withholding Taxes shall mean (i) the employee portion of
        the federal, state and local employment taxes required to be withheld by the Company in connection with the vesting of RSUs (or any other property) under the Award and (ii) the federal, state and local income taxes required to be withheld by the
        Company in connection with the issuance of the Shares underlying those vested RSUs (or any other property).

    
      10

      
        

    

    

    

    IN WITNESS WHEREOF, the parties
      have executed this Agreement on the respective dates indicated below.

    

    

    	 	
            OBAGI GLOBAL HOLDINGS LIMITED

          
	 	 	 
	 	
            By:

          	 
	 	 	 
	 	
            Name:

          	 
	 	 	 
	 	
            Title:

          	 
	 	 	 
	 	
            Date:

          	 
	 	 	 
	 	

          
	 	
            PARTICIPANT NAME:

          
	 	 	 
	 	
            Date:

          	 
	 	 	 
	 	
            Address:

          	 
	 	 	 
	 	 	 

    

    

  

  11

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