Document:

Exhibit
4.1

 

DESCRIPTION
OF SECURITIES

REGISTERED
UNDER SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934

 

Authorized
Capital Stock

 

The
total number of shares of stock Panacea Life Sciences Holdings, Inc. is authorized to issue shall be 700,000,000 shares. This stock shall
be divided into two classes to be designated as “Common Stock” and “Preferred Stock.”

 

Common
Stock

 

The
total number of authorized shares of common stock shall be 650,000,000 shares with a par value of $0.0001 per share.

 

Preferred
Stock

 

The
total number of authorized shares of Preferred Stock shall be 50,000,000 shares with a par value of $0.0001 per share. The board of directors
shall have the authority to authorize the issuance of the Preferred Stock from time to time in one or more classes or series, and to
state in the resolution or resolutions from time to time adopted providing for the issuance thereof the following:

 

(a)
Whether or not the class or series shall have voting rights, full or limited, the nature and qualifications, limitations and restrictions
on those rights, or whether the class or series will be without voting rights;

 

(b)
The number of shares to constitute the class or series and the designation thereof;

 

(c)
The preferences and relative, participating, optional or other special rights, if any, and the qualifications, limitations, or restrictions
thereof, if any, with respect to any class or series;

 

(d)
Whether or not the shares of any class or series shall be redeemable and if redeemable, the redemption price or prices, and the time
or times at which, and the terms and conditions upon which, such shares shall be redeemable and the manner of redemption;

 

(e)
Whether or not the shares of a class or series shall be subject to the operation of retirement or sinking funds to be applied to the
purchase or redemption of such shares for retirement, and if such retirement or sinking funds be established, the amount and the terms
and provisions thereof;

 

(f)
The dividend rate, whether dividends are payable in cash, stock of the Corporation, or other property, the conditions upon which and
the times when such dividends are payable, the preference to or the relation to the payment of dividends payable on any other class or
classes or series of stock, whether or not such dividend shall be cumulative or noncumulative, and if cumulative, the date or dates from
which such dividends shall accumulate;

 

(g)
The preferences, if any, and the amounts thereof which the holders of any class or series thereof are entitled to receive upon the voluntary
or involuntary dissolution of, or upon any distribution of assets of, the Corporation;

 

(h)
Whether or not the shares of any class or series are convertible into, or exchangeable for, the shares of any other class or classes
or of any other series of the same or any other class or classes of stock of the Corporation and the conversion price or prices or ratio
or ratios or the rate or rates at which such exchange may be made, with such adjustments, if any, as shall be stated and expressed or
provided for in such resolution or resolutions; and

 

(i)
Such other rights and provisions with respect to any class or series as may to the board of directors seem advisable.

 

The
shares of each class or series of the Preferred Stock may vary from the shares of any other class or series thereof in any respect. The
Board of Directors may increase the number of shares of the Preferred Stock designated for any existing class or series by a resolution
adding to such class or series authorized and unissued shares of the Preferred Stock not designated for any existing class or series
of the Preferred Stock and the shares so subtracted shall become authorized, unissued and undesignated shares of the Preferred Stock.

 

    	 

     

    

 

Special
Meetings

 

Under
our bylaws, unless otherwise prescribed by law or by the Articles of Incorporation, Special Meetings of Stockholders, for any purpose
or purposes, may be called by either (i) the Chairman, if there be one, or (ii) the President, (iii) any Vice President, if there be
one, (iv) the Secretary, or (v) any Assistant Secretary, if there be one, and shall be called by any such officer at the request in writing
of a majority of the Board of Directors or at the request in writing of stockholders owning a majority of the capital stock of the Corporation
issued and outstanding and entitled to vote (the “Requisite Percentage”). Written notice of a Special Meeting stating the
place, date and hour of the meeting and the purpose or purposes for which the meeting is called shall be given not less than ten nor
more than sixty days before the date of the meeting to each stockholder entitled to vote at such meeting.

 

A
stockholder request for a Special Meeting (a “Special Meeting Request”) shall be directed to the Secretary of the Corporation
and shall be signed by each stockholder, or a duly authorized agent of such stockholder, requesting the Special Meeting (each, a “Requesting
Stockholder”) and shall be accompanied by a notice setting forth (1) the information required by Section 9 of this Article II as
to any nominations proposed to be made or any other business proposed to be conducted at such Special Meeting and as to such Requesting
Stockholders (including the completed written questionnaires and written representations and agreements required by Section 9 of this
Article II from any nominee for election as a director of the Corporation, as applicable); (2) a statement of the specific purpose or
purposes of the Special Meeting; (3) an acknowledgement by the Requesting Stockholders and the beneficial owner (as defined in Rule l3d-3
under the Securities Exchange Act of 1934, as amended (or any successor thereto) (the “Act”)) (the “Beneficial Owner”),
if any, on whose behalf the Special Meeting Request(s) are being made that a disposition of shares of the Corporation’s capital
stock owned of record or beneficially as of the date on which the Special Meeting Request(s) in respect of such shares is delivered to
the Secretary that is made at any time prior to the Special Meeting shall constitute a revocation of such Special Meeting Request(s)
with respect to such disposed shares; and (4) documentary evidence that the Requesting Stockholder(s) own the Requisite Percentage of
as of the date of such Special Meeting Request.

 

In
determining whether a Special Meeting of Stockholders has been requested by the record holders of shares representing in the aggregate
at least the Requisite Percentage, multiple Special Meeting Requests will be considered together only if (i) each Special Meeting Request
identifies substantially the same purpose or purposes of the Special Meeting and substantially the same matters proposed to be acted
on at the Special Meeting (in each case as determined in good faith by the Board of Directors) and (ii) such Special Meeting Requests
have been dated and delivered to the Secretary within thirty (30) days of the earliest dated Special Meeting Request. A stockholder may
revoke a Special Meeting Request at any time by written revocation delivered to the Secretary, and if, following any revocation (including
any deemed revocation pursuant to clause (3) of the foregoing paragraph), the un-revoked Special Meeting Requests are from stockholders
holding in the aggregate less than the Requisite Percentage, the Board of Directors, in its sole discretion, may cancel the Special Meeting.”

 

Consent
of Stockholders in Lieu of Meeting

 

Unless
otherwise provided in the Articles of Incorporation, any action required or permitted to be taken at any Annual or Special Meeting of
Stockholders of the Corporation, may be taken without a meeting, without prior notice and without a vote, if a consent in writing, setting
forth the action so taken, shall be signed by the holders of outstanding stock having not less than the minimum number of votes that
would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted.
Every written consent purporting to take or authorize the taking of corporate action must bear the date of signature of each stockholder
who signs the written consent, and no written consent shall be effective to take the corporate action referred to therein unless, within
sixty (60) days of the earliest dated written consent delivered in the manner required by this Section 6, written consent signed by a
sufficient number of stockholders to take such action are so delivered to the Corporation. The written consents shall be delivered to
the Corporation by delivery to its registered office in Nevada, its principal place of business, or an officer or agent of the Corporation
having custody of the book in which the proceedings are recorded. Delivery to the registered officer shall be by hand or certified or
registered mail, return receipt requested. Prompt notice of the taking of the corporate action without a meeting by less than unanimous
written consent shall be given to those stockholders who have not consented in writing.

 

    	 

     

    

 

The
record date for the determination of stockholders entitled to express consent to corporate action in writing without a meeting shall
be as fixed by the Board of Directors or as otherwise established under this Section 6. Any person seeking to have the stockholders authorize
or take corporate action by written consent without a meeting shall, by written notice addressed to the Secretary of the Corporation
and delivered to the Corporation and signed by a stockholder of record, request that a record date be fixed for such purpose. The written
notice must contain the following information with respect to each action that the stockholder proposes to take by consent: (a) the information
required by Section 9 of Article II of these Bylaws as though such stockholder was intending to make a nomination or to bring any other
matter before a meeting of stockholders, and (b) to the extent not otherwise required by Section 9 of Article II of these Bylaws, such
notice must also state, (i) the text of the proposal (including the text of any resolutions to be effected by consent and the language
of any proposed amendment to the Bylaws of the Corporation), (ii) the reasons for soliciting consents for the proposal, (iii) any material
interest in the proposal held by the stockholder and the Beneficial Owner(s), if any, on whose behalf the action is to be taken, and
(iv) any other information relating to the stockholder, the Beneficial Owner(s), any person whom the stockholder proposes to nominate
for election or appointment as a director of the Corporation pursuant to such solicitation of written consents or the proposal of other
business by the stockholder, as applicable, that would be required to be disclosed in filings in connection with the solicitation of
proxies or consents pursuant to Section 14 of the Act and the rules and regulations promulgated thereunder (or any successor provision
of the Act or the rules or regulations promulgated thereunder). Following receipt of the notice, the Board of Directors shall have ten
(10) calendar days to determine the validity of the request, and if appropriate, adopt a resolution fixing the record date for such purpose.
The record date for such purpose shall be no more than ten (10) calendar days after the date upon which the resolution fixing the record
date is adopted by the Board of Directors and shall not precede the date such resolution is adopted. If the Board of Directors fails
within ten (10) calendar days after the Corporation receives such notice to fix a record date for such purpose, provided that the request
is valid and fixing a record date is appropriate, the record date shall be the day on which the first written consent is delivered to
the Corporation in the manner described in the first paragraph of this Section 6; except that, if prior action by the Board of Directors
is required by applicable law, the record date shall be at the close of business on the day on which the Board of Directors adopts the
resolution taking such prior action.

 

Nothing
contained in this Section 6 shall in any way be construed to suggest or imply that the Board of Directors or any stockholder shall not
be entitled to contest the validity of any consent or related revocations, whether before or after such certification by the inspectors
or to take any other action (including, without limitation, the commencement, prosecution, or defense of any litigation with respect
thereto, and the seeking of injunctive relief in such litigation).”

 

Transfer
Agent and Registrar

 

Equity
Stock Transfer is the transfer agent and registrar in respect of the common stock.

 

Pursuant
to Item 202(a), the information regarding the Common Stock contained herein does not constitute a complete legal description of the Common
Stock and is qualified in all material respects by the provisions of the Company’s Amended and Restated Articles of Incorporation
and bylaws, as filed with the Securities and Exchange Commission.Exhibit
10.20

Panacea
Life Sciences Holdings, Inc.

Amended
and Restated 2021 Equity Incentive Plan

 

1.
Scope of Plan; Definitions.

 

(a)
This Amended and Restated 2021 Equity Incentive Plan (the “Plan”) is intended to advance the interests of Panacea Life Sciences
Holdings, Inc. (the “Company”) and its Related Corporations by enhancing the ability of the Company to attract and retain
qualified employees, consultants, Officers and directors, by creating incentives and rewards for their contributions to the success of
the Company and its Related Corporations. This Plan will provide to (a) Officers and other employees of the Company and its Related Corporations
opportunities to purchase common stock, par value $0.0001 (“Common Stock”) of the Company pursuant to Options granted hereunder
which qualify as incentive stock options (“ISOs”) under Section 422(b) of the Internal Revenue Code of 1986 (the “Code”),
(b) directors, Officers, employees and consultants of the Company and Related Corporations opportunities to purchase Common Stock of
the Company pursuant to options granted hereunder which do not qualify as ISOs (“Non-Qualified Options”); (c) directors,
Officers, employees and consultants of the Company and Related Corporations opportunities to receive shares of Common Stock of the Company
which normally are subject to restrictions on sale (“Restricted Stock”); (d) directors, Officers, employees and consultants
of the Company and Related Corporations opportunities to receive grants of stock appreciation rights (“SARs”); and (e) directors,
Officers, employees and consultants of the Company and Related Corporations opportunities to receive grants of restricted stock units
(“RSUs”). ISOs and Non-Qualified Options are referred to hereafter as “Options.” Options, Restricted Stock, RSUs
and SARs are sometimes referred to hereafter collectively as “Stock Rights.” Any of the Options and/or Stock Rights may in
the Board of Directors’ or Compensation Committee’s discretion be issued in tandem to one or more other Options and/or Stock
Rights to the extent permitted by law.

 

(b)
For purposes of the Plan, capitalized words and terms shall have the following meaning:

 

“Board”
means the board of directors of the Company.

 

“Chairman”
means the chairman of the Board.

 

“Change
of Control” means the occurrence of any of the following events: (i) the consummation of the sale or disposition by the Company
of all or substantially all of the Company’s assets in a transaction which requires shareholder approval under applicable state
law; or (ii) the consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation
which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving entity or its parent) at least 50% of the total voting power
represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger
or consolidation.

 

    	 

     

    

 

“Code”
shall have the meaning given to it in Section 1(a).

 

“Common
Stock” shall have the meaning given to it in Section 1(a).

 

“Company”
shall have the meaning given to it in Section 1(a).

 

“Compensation
Committee” means the compensation committee of the Board, if any, which shall consist of two or more members of the Board, each
of whom shall be both an “outside director” within the meaning of Section 162(m) of the Code and a “non-employee director”
within the meaning of Rule 16b-3. All references in this Plan to the Compensation Committee shall mean the Board when (i) there is no
Compensation Committee or (ii) the Board has retained the power to administer this Plan.

 

“Disability”
means “permanent and total disability” as defined in Section 22(e)(3) of the Code or successor statute.

 

“Disqualifying
Disposition” means any disposition (including any sale) of Common Stock underlying an ISO before the later of (i) two years after
the date of employee was granted the ISO or (ii) one year after the date the employee acquired Common Stock by exercising the ISO.

 

“Exchange
Act” shall mean the Securities Exchange Act of 1934.

 

“Fair
Market Value” shall be determined as of the last Trading Day before the date a Stock Right is granted and shall mean:

 

(1)
the closing price on the principal market if the Common Stock is listed on a national securities exchange or the OTCQB or OTCQX.

 

(2)
if the Company’s shares are not listed on a national securities exchange or the OTCQB or OTCQX, then the closing price if reported
or the average bid and asked price for the Company’s shares as published by OTC Markets Group, Inc.;

 

(3)
if there are no prices available under clauses (1) or (2), then Fair Market Value shall be based upon the average closing bid and asked
price as determined following a polling of all dealers making a market in the Company’s Common Stock; or

 

(4)
if there is no regularly established trading market for the Company’s Common Stock or if the Company’s Common Stock is listed,
quoted or reported under clauses (1) or (2) but it trades sporadically rather than every day, the Fair Market Value shall be established
by the Board or the Compensation Committee taking into consideration all relevant factors including the most recent price at which the
Company’s Common Stock was sold.

 

“ISO”
shall have the meaning given to it in Section 1(a).

 

“Non-Qualified
Options” shall have the meaning given to it in Section 1(a).

 

“Officers”
means a person who is an executive officer of the Company and is required to file ownership reports under Section 16(a) of the Exchange
Act.

 

“Options”
shall have the meaning given to it in Section 1(a).

 

“Plan”
shall have the meaning given to it in Section 1(a).

 

“Related
Corporations” shall mean a corporation which is a subsidiary corporation with respect to the Company within the meaning of Section
424(f) of the Code.

 

    	 

     

    

 

“Restricted
Stock” shall have the meaning contained in Section 1(a).

 

“RSU”
shall have the meaning given to it in Section 1(a).

 

“SAR”
shall have the meaning given to it in Section 1(a).

 

“Securities
Act” means the Securities Act of 1933.

 

“Stock
Rights” shall have the meaning given to it in Section 1(a).

 

“Trading
Day” shall mean a day on which The Nasdaq Stock Market LLC is open for business.

 

This
Plan is intended to comply in all respects with Rule 16b-3 (“Rule 16b-3”) and its successor rules as promulgated under Section
16(b) of the Exchange Act for participants who are subject to Section 16 of the Exchange Act. To the extent any provision of the Plan
or action by the Plan administrators fails to so comply, it shall be deemed null and void to the extent permitted by law and deemed advisable
by the Plan administrators. Provided, however, such exercise of discretion by the Plan administrators shall not interfere
with the contract rights of any grantee. In the event that any interpretation or construction of the Plan is required, it shall be interpreted
and construed in order to ensure, to the maximum extent permissible by law, that such grantee does not violate the short-swing profit
provisions of Section 16(b) of the Exchange Act and that any exemption available under Rule 16b-3 or other rule is available.

 

2.
Administration of the Plan.

 

(a)
The Plan may be administered by the entire Board or by the Compensation Committee. Once appointed, the Compensation Committee shall continue
to serve until otherwise directed by the Board. A majority of the members of the Compensation Committee shall constitute a quorum, and
all determinations of the Compensation Committee shall be made by the majority of its members present at a meeting. Any determination
of the Compensation Committee under the Plan may be made without notice or meeting of the Compensation Committee by a writing signed
by all of the Compensation Committee members. Subject to ratification of the grant of each Stock Right by the Board (but only if so required
by applicable state law), and subject to the terms of the Plan, the Compensation Committee shall have the authority to (i) determine
the employees of the Company and Related Corporations (from among the class of employees eligible under Section 3 to receive ISOs) to
whom ISOs may be granted, and to determine (from among the class of individuals and entities eligible under Section 3 to receive Non-Qualified
Options, Restricted Stock, RSUs and SARs) to whom Non-Qualified Options, Restricted Stock, RSUs and SARs may be granted; (ii) determine
when Stock Rights may be granted; (iii) determine the exercise prices of Stock Rights other than Restricted Stock and RSUs, which shall
not be less than the Fair Market Value; (iv) determine whether each Option granted shall be an ISO or a Non-Qualified Option; (v) determine
when Stock Rights shall become exercisable, the duration of the exercise period and when each Stock Right shall vest; (vi) determine
whether restrictions such as repurchase options are to be imposed on shares subject to or issued in connection with Stock Rights, and
the nature of such restrictions, if any, and (vii) interpret the Plan and promulgate and rescind rules and regulations relating to it.
The interpretation and construction by the Compensation Committee of any provisions of the Plan or of any Stock Right granted under it
shall be final, binding and conclusive unless otherwise determined by the Board. The Compensation Committee may from time to time adopt
such rules and regulations for carrying out the Plan as it may deem best.

 

No
members of the Compensation Committee or the Board shall be liable for any action or determination made in good faith with respect to
the Plan or any Stock Right granted under it. No member of the Compensation Committee or the Board shall be liable for any act or omission
of any other member of the Compensation Committee or the Board or for any act or omission on his own part, including but not limited
to the exercise of any power and discretion given to him under the Plan, except those resulting from his own gross negligence or willful
misconduct.

 

(b)
The Compensation Committee may select one of its members as its chairman and shall hold meetings at such time and places as it may determine.
All references in this Plan to the Compensation Committee shall mean the Board if no Compensation Committee has been appointed. From
time to time the Board may increase the size of the Compensation Committee and appoint additional members thereof, remove members (with
or without cause) and appoint new members in substitution therefor, fill vacancies however caused or remove all members of the Compensation
Committee and thereafter directly administer the Plan.

 

    	 

     

    

 

(c)
Stock Rights may be granted to members of the Board, whether such grants are in their capacity as directors, Officers or consultants.
All grants of Stock Rights to members of the Board shall in all other respects be made in accordance with the provisions of this Plan
applicable to other eligible persons. Members of the Board who are either (i) eligible for Stock Rights pursuant to the Plan or (ii)
have been granted Stock Rights may vote on any matters affecting the administration of the Plan or the grant of any Stock Rights pursuant
to the Plan.

 

(d)
In addition to such other rights of indemnification as he or she may have as a member of the Board, and with respect to administration
of the Plan and the granting of Stock Rights under it, each member of the Board and of the Compensation Committee shall be entitled without
further act on his part to indemnification from the Company for all expenses (including advances of litigation expenses, the amount of
judgment and the amount of approved settlements made with a view to the curtailment of costs of litigation) reasonably incurred by him
in connection with or arising out of any action, suit or proceeding, including any appeal thereof, with respect to the administration
of the Plan or the granting of Stock Rights under it in which he may be involved by reason of his being or having been a member of the
Board or the Compensation Committee, whether or not he continues to be such member of the Board or the Compensation Committee at the
time of the incurring of such expenses; provided, however, that such indemnity shall be subject to the limitations contained
in any Indemnification Agreement between the Company and the Board member or Officer. The foregoing right of indemnification shall inure
to the benefit of the heirs, executors or administrators of each such member of the Board or the Compensation Committee and shall be
in addition to all other rights to which such member of the Board or the Compensation Committee would be entitled to as a matter of law,
contract or otherwise.

 

(e)
The Board may delegate the powers to grant Stock Rights to Officers to the extent permitted by the laws of the Company’s state
of incorporation.

 

3.
Eligible Employees and Others. ISOs may be granted to any employee of the Company or any Related Corporation. Those Officers and
directors of the Company who are not employees may not be granted ISOs under the Plan. Subject to compliance with Rule 16b-3 and other
applicable securities laws, Non-Qualified Options, Restricted Stock, RSUs and SARs may be granted to any director (whether or not an
employee), Officers, employees or consultants of the Company or any Related Corporation. The Compensation Committee may take into consideration
a recipient’s individual circumstances in determining whether to grant an ISO, a Non-Qualified Option, Restricted Stock, RSUs or
a SAR. Granting of any Stock Right to any individual or entity shall neither entitle that individual or entity to, nor disqualify him
from participation in, any other grant of Stock Rights.

 

4.
Common Stock. The Common Stock subject to Stock Rights shall be authorized but unissued shares of Common Stock or shares of Common
Stock reacquired by the Company in any manner, including purchase, forfeiture or otherwise. The aggregate number of shares of Common
Stock which may be issued pursuant to the Plan is 113,383,460, less any Stock Rights previously granted or exercised, subject to adjustment
as provided in Section 14. Any such shares may be issued under ISOs, Non-Qualified Options, Restricted Stock, RSUs or SARs, so long as
the number of shares so issued does not exceed the limitations in this Section. Subject to adjustment in accordance with Section 14,
no more than 113,383,460 shares of Common Stock may be issued in the aggregate pursuant to the exercise of ISOs. If any Stock Rights
granted under the Plan shall expire or terminate for any reason without having been exercised in full or shall cease for any reason to
be exercisable in whole or in part, or if the Company shall reacquire any unvested shares, the unpurchased shares subject to such Stock
Rights and any unvested shares so reacquired by the Company shall again be available for grants under the Plan. For the avoidance of
doubt, in the event that (i) the payment of the exercise price of any Stock Right, or (ii) the satisfaction of any tax withholding obligations
arising from any Stock Right is made by withholding of shares of Common Stock by the Company, the shares so withheld shall again become
available for grants under the Plan.

 

    	 

     

    

 

5.
Granting of Stock Rights.

 

(a)
The date of grant of a Stock Right under the Plan will be the date specified by the Board or Compensation Committee at the time it grants
the Stock Right; provided, however, that such date shall not be prior to the date on which the Board or Compensation Committee
acts to approve the grant. The Board or Compensation Committee shall have the right, with the consent of the optionee, to convert an
ISO granted under the Plan to a Non-Qualified Option pursuant to Section 17.

 

(b)
The Board or Compensation Committee shall grant Stock Rights to participants that it, in its sole discretion, selects. Stock Rights shall
be granted on such terms as the Board or Compensation Committee shall determine except that ISOs shall be granted on terms that comply
with the Code and regulations thereunder.

 

(c)
A SAR entitles the holder to receive, as designated by the Board or Compensation Committee, cash or shares of Common Stock, value equal
to (or otherwise based on) the excess of: (a) the Fair Market Value of a specified number of shares of Common Stock at the time of exercise
over (b) an exercise price established by the Board or Compensation Committee. The exercise price of each SAR granted under this Plan
shall be established by the Compensation Committee or shall be determined by a method established by the Board or Compensation Committee
at the time the SAR is granted, provided the exercise price shall not be less than 100% of the Fair Market Value of a share of Common
Stock on the date of the grant of the SAR, or such higher price as is established by the Board or Compensation Committee. A SAR shall
be exercisable in accordance with such terms and conditions and during such periods as may be established by the Board or Compensation
Committee. Shares of Common Stock delivered pursuant to the exercise of a SAR shall be subject to such conditions, restrictions and contingencies
as the Board or Compensation Committee may establish in the applicable SAR agreement or document, if any. The Board or Compensation Committee,
in its discretion, may impose such conditions, restrictions and contingencies with respect to shares of Common Stock acquired pursuant
to the exercise of each SAR as the Board or Compensation Committee determines to be desirable. A SAR under the Plan shall be subject
to such terms and conditions, not inconsistent with the Plan, as the Board or Compensation Committee shall, in its discretion, prescribe.
The terms and conditions of any SAR to any grantee shall be reflected in such form of agreement as is determined by the Board or Compensation
Committee. A copy of such document, if any, shall be provided to the grantee, and the Board or Compensation Committee may condition the
granting of the SAR on the grantee executing such agreement.

 

(d)
An RSU gives the grantee the right to receive a number of shares of the Company’s Common Stock on applicable vesting or other dates.
Delivery of the RSUs may be deferred beyond vesting as determined by the Board or Compensation Committee. RSUs shall be evidenced by
an RSU agreement in the form determined by the Board or Compensation Committee. With respect to an RSU, which becomes non-forfeitable
due to the lapse of time, the Compensation Committee shall prescribe in the RSU agreement the vesting period. With respect to the granting
of the RSU, which becomes non-forfeitable due to the satisfaction of certain pre-established performance-based objectives imposed by
the Board or Compensation Committee, the measurement date of whether such performance-based objectives have been satisfied shall be a
date no earlier than the first anniversary of the date of the RSU. A recipient who is granted an RSU shall possess no incidents of ownership
with respect to such underlying Common Stock, although the RSU agreement may provide for payments in lieu of dividends to such grantee.

 

(e)
Notwithstanding any provision of this Plan, the Board or Compensation Committee may impose conditions and restrictions on any grant of
Stock Rights including forfeiture of vested Options, cancellation of Common Stock acquired in connection with any Stock Right and forfeiture
of profits.

 

(f)
The Options and SARs shall not be exercisable for a period of more than 10 years from the date of grant.

 

6.
Sale of Shares. The shares underlying Stock Rights granted to any Officer, director or a beneficial owner of 10% or more of the
Company’s securities registered under Section 12 of the Exchange Act shall not be sold, assigned or transferred by the grantee
until at least six months elapse from the date of the grant thereof.

 

7.
ISO Minimum Option Price and Other Limitations.

 

(a)
The exercise price per share relating to all Options granted under the Plan shall not be less than the Fair Market Value per share of
Common Stock on the last trading day prior to the date of such grant. For purposes of determining the exercise price, the date of the
grant shall be the later of (i) the date of approval by the Board or Compensation Committee or the Board, or (ii) for ISOs, the date
the recipient becomes an employee of the Company. In the case of an ISO to be granted to an employee owning Common Stock which represents
more than 10% of the total combined voting power of all classes of stock of the Company or any Related Corporation, the price per share
shall not be less than 110% of the Fair Market Value per share of Common Stock on the date of grant and such ISO shall not be exercisable
after the expiration of five years from the date of grant.

 

    	 

     

    

 

(b)
In no event shall the aggregate Fair Market Value (determined at the time an ISO is granted) of Common Stock for which ISOs granted to
any employee are exercisable for the first time by such employee during any calendar year (under all stock option plans of the Company
and any Related Corporation) exceed $100,000.

 

8.
Duration of Stock Rights. Subject to earlier termination as provided in Sections 5, 9, 10 and 11, each Option and SAR shall expire
on the date specified in the original instrument granting such Stock Right (except with respect to any part of an ISO that is converted
into a Non-Qualified Option pursuant to Section 17), provided, however, that such instrument must comply with Section 422
of the Code with regard to ISOs and Rule 16b-3 with regard to all Stock Rights granted pursuant to the Plan to Officers, directors and
10% shareholders of the Company.

 

9.
Exercise of Options and SARs; Vesting of Stock Rights. Subject to the provisions of Sections 9 through 13, each Option and SAR
granted under the Plan shall be exercisable as follows:

 

(a)
The Options and SARs shall either be fully vested and exercisable from the date of grant or shall vest and become exercisable in such
installments as the Board or Compensation Committee may specify.

 

(b)
Once an installment becomes exercisable it shall remain exercisable until expiration or termination of the Option and SAR, unless otherwise
specified by the Board or Compensation Committee.

 

(c)
Each Option and SAR or installment, once it becomes exercisable, may be exercised at any time or from time to time, in whole or in part,
for up to the total number of shares with respect to which it is then exercisable.

 

(d)
The Board or Compensation Committee shall have the right to accelerate the vesting date of any installment of any Stock Right; provided
that the Board or Compensation Committee shall not accelerate the exercise date of any installment of any Option granted to any employee
as an ISO (and not previously converted into a Non-Qualified Option pursuant to Section 17) if such acceleration would violate the annual
exercisability limitation contained in Section 422(d) of the Code as described in Section 7(b).

 

10.
Termination of Service. Subject to any contrary provisions or restrictions as may be imposed by the Board or Compensation Committee
or by a written agreement, if an optionee ceases to be employed by the Company or any Related Corporations, other than by reason of death
or disability, no further installments of his Options shall vest or become exercisable, and the Options shall terminate on 5:30 pm New
York, NY time on the day three months after the day of the termination of his employment, but in no event later than on their specified
expiration dates. Employment shall be considered as continuing uninterrupted during any bona fide leave of absence (such as those attributable
to illness, military obligations or governmental service) provided that the period of such leave does not exceed 90 days or, if longer,
any period during which such optionee’s right to re-employment is guaranteed by statute. A leave of absence with the written approval
of the Board shall not be considered an interruption of employment under the Plan, provided that such written approval contractually
obligates the Company or any Related Corporation to continue the employment of the optionee after the approved period of absence. ISOs
granted under the Plan shall not be affected by any change of employment within or among the Company and Related Corporations so long
as the optionee continues to be an employee of the Company or any Related Corporation.

 

11.
Death; Disability. Unless otherwise determined by the Board or Compensation Committee or by a written agreement:

 

(a)
If the holder of an Option or SAR ceases to be employed by the Company and all Related Corporations by reason of his death, any Options
or SARs held by the optionee may be exercised to the extent he could have exercised it on the date of his death, by his estate, personal
representative or beneficiary who has acquired the Options or SARs by will or by the laws of descent and distribution, at any time prior
to the earlier of: (i) the Options’ or SARs’ specified expiration date or (ii) one year (except three months for an ISO)
from the date of death.

 

    	 

     

    

 

(b)
If the holder of an Option or SAR ceases to be employed by the Company and all Related Corporations, or a director or Director Advisor
can no longer perform his duties, by reason of his Disability, any Options or SARs held by the optionee may be exercised to the extent
he could have exercised it on the date of termination due to Disability until the earlier of (i) the Options’ or SARs’ specified
expiration date or (ii) one year from the date of the termination.

 

12.
Assignment, Transfer or Sale.

 

(a)
No ISO granted under this Plan shall be assignable or transferable by the grantee except by will or by the laws of descent and distribution,
and during the lifetime of the grantee, each ISO shall be exercisable only by him, his guardian or legal representative.

 

(b)
Except for ISOs, all Stock Rights are transferable subject to compliance with applicable securities laws and Section 6 of this Plan.

 

13.
Terms and Conditions of Stock Rights. Stock Rights shall be evidenced by instruments (which need not be identical) in such forms
as the Board or Compensation Committee may from time to time approve. Such instruments shall conform to the terms and conditions set
forth in Sections 5 through 12 hereof and may contain such other provisions as the Board or Compensation Committee deems advisable which
are not inconsistent with the Plan. In granting any Stock Rights, the Board or Compensation Committee may specify that Stock Rights shall
be subject to the restrictions set forth herein with respect to ISOs, or to such other termination and cancellation provisions as the
Board or Compensation Committee may determine. The Board or Compensation Committee may from time to time confer authority and responsibility
on one or more of its own members and/or one or more Officers of the Company to execute and deliver such instruments. The proper Officers
of the Company are authorized and directed to take any and all action necessary or advisable from time to time to carry out the terms
of such instruments.

 

14.
Adjustments Upon Certain Events.

 

(a)
Subject to any required action by the shareholders of the Company, the number of shares of Common Stock covered by each outstanding Stock
Right, and the number of shares of Common Stock which have been authorized for issuance under the Plan but as to which no Stock Rights
have yet been granted or which have been returned to the Plan upon cancellation or expiration of a Stock Right, as well as the price
per share of Common Stock (or cash, as applicable) covered by each such outstanding Option or SAR, shall be proportionately adjusted
for any increases or decrease in the number of issued shares of Common Stock resulting from a stock split, reverse stock split, stock
dividend, combination or reclassification of Common Stock, or any other increase or decrease in the number of issued shares of Common
Stock effected without receipt of consideration by the Company; provided, however, that conversion of any convertible securities
of the Company or the voluntary cancellation whether by virtue of a cashless exercise of a derivative security of the Company or otherwise
shall not be deemed to have been “effected without receipt of consideration.” Such adjustment shall be made by the Board
or Compensation Committee, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided herein,
no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect,
and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock subject to a Stock Right.
No adjustments shall be made for dividends or other distributions paid in cash or in property other than securities of the Company.

 

(b)
In the event of the proposed dissolution or liquidation of the Company, the Board or Compensation Committee shall notify each participant
as soon as practicable prior to the effective date of such proposed transaction. To the extent it has not been previously exercised,
a Stock Right will terminate immediately prior to the consummation of such proposed action.

 

(c)
In the event of a merger of the Company with or into another corporation, or a Change of Control, each outstanding Stock Right shall
be assumed (as defined below) or an equivalent option or right substituted by the successor corporation or a parent or subsidiary of
the successor corporation. In the event that the successor corporation refuses to assume or substitute for the Stock Rights, the participants
shall fully vest in and have the right to exercise their Stock Rights as to which it would not otherwise be vested or exercisable. If
a Stock Right becomes fully vested and exercisable in lieu of assumption or substitution in the event of a merger or sale of assets,
the Board or Compensation Committee shall notify the participant in writing or electronically that the Stock Right shall be fully vested
and exercisable for a period of at least 15 days from the date of such notice, and any Options or SARs shall terminate one minute prior
to the closing of the merger or sale of assets.

 

    	 

     

    

 

For
the purposes of this Section 14(c), the Stock Right shall be considered “assumed” if, following the merger or Change of Control,
the option or right confers the right to purchase or receive, for each share of Common Stock subject to the Stock Right immediately prior
to the merger or Change of Control, the consideration (whether stock, cash, or other securities or property) received in the merger or
Change of Control by holders of Common Stock for each share held on the effective date of the transaction (and if holders were offered
a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided,
however, that if such consideration received in the merger or Change of Control is not solely common stock of the successor corporation
or its parent, the Board or Compensation Committee may, with the consent of the successor corporation, provide for the consideration
to be received upon the exercise of the Stock Right, for each share of Common Stock subject to the Stock Right, to be solely common stock
of the successor corporation or its parent equal in Fair Market Value to the per share consideration received by holders of Common Stock
in the merger or Change of Control.

 

(d)
Notwithstanding the foregoing, any adjustments made pursuant to Section 14(a), (b) or (c) with respect to ISOs shall be made only after
the Board or Compensation Committee, after consulting with counsel for the Company, determines whether such adjustments would constitute
a “modification” of such ISOs (as that term is defined in Section 424(h) of the Code) or would cause any adverse tax consequences
for the holders of such ISOs. If the Board or Compensation Committee determines that such adjustments made with respect to ISOs would
constitute a modification of such ISOs it may refrain from making such adjustments.

 

(e)
No fractional shares shall be issued under the Plan and the optionee shall receive from the Company cash in lieu of such fractional shares.

 

15.
Means of Exercising Stock Rights.

 

(a)
An Option or SAR (or any part or installment thereof) shall be exercised by giving written notice to the Company at its principal office
address. Such notice shall identify the Stock Right being exercised and specify the number of shares as to which such Stock Right is
being exercised, accompanied by full payment of the exercise price therefor (to the extent it is exercisable in cash) either (i) in United
States dollars by check or wire transfer; or (ii) at the discretion of the Board or Compensation Committee, through delivery of shares
of Common Stock having a Fair Market Value equal as of the date of the exercise to the cash exercise price of the Stock Right or such
other formula as may be approved by the Board or Compensation Committee; or (iii) at the discretion of the Board or Compensation Committee,
by any combination of (i) and (ii) above. If the Board or Compensation Committee exercises its discretion to permit payment of the exercise
price of an ISO by means of the methods set forth in clauses (ii) or (iii) of the preceding sentence, such discretion need not be exercised
in writing at the time of the grant of the Stock Right in question. The holder of a Stock Right shall not have the rights of a shareholder
with respect to the shares covered by his Stock Right until the date of issuance of a stock certificate to him for such shares. Except
as expressly provided above in Section 14 with respect to changes in capitalization and stock dividends, no adjustment shall be made
for dividends or similar rights for which the record date is before the date such stock certificate is issued.

 

(b)
Each notice of exercise shall, unless the shares of Common Stock are covered by a then current registration statement under the Securities
Act, contain the holder’s acknowledgment in form and substance satisfactory to the Company that (i) such shares are being purchased
for investment and not for distribution or resale (other than a distribution or resale which, in the opinion of counsel satisfactory
to the Company, may be made without violating the registration provisions of the Securities Act), (ii) the holder has been advised and
understands that (1) the shares have not been registered under the Securities Act and are “restricted securities” within
the meaning of Rule 144 under the Securities Act and are subject to restrictions on transfer and (2) the Company is under no obligation
to register the shares under the Securities Act or to take any action which would make available to the holder any exemption from such
registration, and (iii) such shares may not be transferred without compliance with all applicable federal and state securities laws.
Notwithstanding the above, should the Company be advised by counsel that issuance of shares should be delayed pending registration under
federal or state securities laws or the receipt of an opinion that an appropriate exemption therefrom is available, the Company may defer
exercise of any Stock Right granted hereunder until such event has occurred.

 

    	 

     

    

 

16.
Term, Termination and Amendment.

 

(a)
This Plan was adopted by the Board. This Plan may be approved by the Company’s shareholders, which approval is required for ISOs.

 

(b)
The Board may terminate the Plan at any time. Unless sooner terminated, the Plan shall terminate on June 30, 2031 or 10 years from the
date the Board adopts the Plan. No Stock Rights may be granted under the Plan once the Plan is terminated. Termination of the Plan shall
not impair rights and obligations under any Stock Right granted while the Plan is in effect, except with the written consent of the grantee.

 

(c)
The Board at any time, and from time to time, may amend the Plan. Provided, however, except as provided in Section 14 relating
to adjustments in Common Stock, no amendment shall be effective unless approved by the shareholders of the Company to the extent (i)
shareholder approval is necessary to satisfy the requirements of Section 422 of the Code or (ii) required by the rules of the principal
national securities exchange or trading market upon which the Company’s Common Stock trades. Rights under any Stock Rights granted
before amendment of the Plan shall not be impaired by any amendment of the Plan, except with the written consent of the grantee.

 

(d)
The Board at any time, and from time to time, may amend the terms of any one or more Stock Rights; provided, however, that
the rights under the Stock Right shall not be impaired by any such amendment, except with the written consent of the grantee.

 

17.
Conversion of ISOs into Non-Qualified Options; Termination of ISOs. The Board or Compensation Committee, at the written request
of any optionee, may in its discretion take such actions as may be necessary to convert such optionee’s ISOs (or any installments
or portions of installments thereof) that have not been exercised on the date of conversion into Non-Qualified Options at any time prior
to the expiration of such ISOs, regardless of whether the optionee is an employee of the Company or a Related Corporation at the time
of such conversion. Provided, however, the Board or Compensation Committee shall not reprice the Options or extend the
exercise period or reduce the exercise price of the appropriate installments of such Options without the approval of the Company’s
shareholders. At the time of such conversion, the Board or Compensation Committee (with the consent of the optionee) may impose such
conditions on the exercise of the resulting Non-Qualified Options as the Board or Compensation Committee in its discretion may determine,
provided that such conditions shall not be inconsistent with this Plan. Nothing in the Plan shall be deemed to give any optionee the
right to have such optionee’s ISOs converted into Non-Qualified Options, and no such conversion shall occur until and unless the
Board or Compensation Committee takes appropriate action. The Compensation Committee, with the consent of the optionee, may also terminate
any portion of any ISO that has not been exercised at the time of such termination.

 

18.
Application of Funds. The proceeds received by the Company from the sale of shares pursuant to Options or SARS (if cash settled)
granted under the Plan shall be used for general corporate purposes.

 

19.
Governmental Regulations. The Company’s obligation to sell and deliver shares of the Common Stock under this Plan is subject
to the approval of any governmental authority required in connection with the authorization, issuance or sale of such shares.

 

20.
Withholding of Additional Income Taxes. In connection with the granting, exercise or vesting of a Stock Right or the making of
a Disqualifying Disposition the Company, in accordance with Section 3402(a) of the Code, may require the optionee to pay additional withholding
taxes in respect of the amount that is considered compensation includable in such person’s gross income.

 

To
the extent that the Company is required to withhold taxes for federal income tax purposes as provided above, if any optionee may elect
to satisfy such withholding requirement by (i) paying the amount of the required withholding tax to the Company; (ii) delivering to the
Company shares of its Common Stock (including shares of Restricted Stock) previously owned by the optionee; or (iii) having the Company
retain a portion of the shares covered by an Option exercise. The number of shares to be delivered to or withheld by the Company times
the Fair Market Value of such shares or such other formula as may be approved by the Board or Compensation Committee pursuant to the
Plan shall equal the cash required to be withheld.

 

    	 

     

    

 

21.
Notice to the Company of Disqualifying Disposition. Each employee who receives an ISO must agree to notify the Company in writing
immediately after the employee makes a Disqualifying Disposition of any Common Stock acquired pursuant to the exercise of an ISO. If
the employee has died before such stock is sold, the holding periods requirements of the Disqualifying Disposition do not apply and no
Disqualifying Disposition can occur thereafter.

 

22.
Continued Employment. The grant of a Stock Right pursuant to the Plan shall not be construed to imply or to constitute evidence
of any agreement, express or implied, on the part of the Company or any Related Corporation to retain the grantee in the employ of the
Company or a Related Corporation, as a member of the Company’s Board or in any other capacity, whichever the case may be.

 

23.
Governing Law; Construction. The validity and construction of the Plan and the instruments evidencing Stock Rights shall be governed
by the laws of the Company’s state of incorporation. In construing this Plan, the singular shall include the plural and the masculine
gender shall include the feminine and neuter, unless the context otherwise requires.

 

24.
(a) Forfeiture of Stock Rights Granted to Employees or Consultants. Notwithstanding any other provision of this Plan, and unless
otherwise provided for in a Stock Rights Agreement, all vested or unvested Stock Rights granted to employees or consultants shall be
immediately forfeited at the discretion of the Board if any of the following events occur:

 

(1)
Termination of the relationship with the grantee for cause including, but not limited to, fraud, theft, dishonesty and violation of Company
policy;

 

(2)
Purchasing or selling securities of the Company in violation of the Company’s insider trading guidelines then in effect;

 

(3)
Breaching any duty of confidentiality including that required by the Company’s insider trading guidelines then in effect;

 

(4)
Competing with the Company;

 

(5)
Being unavailable for consultation after leaving the Company’s employment if such availability is a condition of any agreement
between the Company and the grantee;

 

(6)
Recruitment of Company personnel after termination of employment, whether such termination is voluntary or for cause;

 

(7)
Failure to assign any invention or technology to the Company if such assignment is a condition of employment or any other agreements
between the Company and the grantee; or

 

(8)
A finding by the Board that the grantee has acted disloyally and/or against the interests of the Company.

 

(b)
Forfeiture of Stock Rights Granted to Directors. Notwithstanding any other provision of this Plan, and unless otherwise provided
for in a Stock Rights Agreement, all vested or unvested Stock Rights granted to directors shall be immediately forfeited at the discretion
of the Board if any of the following events occur:

 

(1)
Purchasing or selling securities of the Company in violation of the Company’s insider trading guidelines then in effect;

 

(2)
Breaching any duty of confidentiality including that required by the Company’s insider trading guidelines then in effect;

 

(3)
Competing with the Company;

 

(4)
Recruitment of Company personnel after ceasing to be a director;

or

 

(5)
A finding by the Board that the grantee has acted disloyally and/or against the interests of the Company.

 

The
Company may impose other forfeiture restrictions which are more or less restrictive and require a return of profits from the sale of
Common Stock as part of said forfeiture provisions if such forfeiture provisions and/or return of provisions are contained in a Stock
Rights Agreement.

 

(c)
Profits on the Sale of Certain Shares; Redemption. If any of the events specified in Section 24(a) or (b) of the Plan occur within
one year from the date the grantee last performed services for the Company in the capacity for which the Stock Rights were granted (the
“Termination Date”) (or such longer period required by any written agreement), all profits earned from the sale of the Company’s
securities, including the sale of shares of Common Stock underlying the Stock Rights, during the two-year period commencing one year
prior to the Termination Date shall be forfeited and immediately paid by the grantee to the Company. Further, in such event, the Company
may at its option redeem shares of Common Stock acquired upon exercise of the Stock Right by payment of the exercise price to the grantee.
To the extent that another written agreement with the Company extends the events in Section 24(a) or (b) beyond one year following the
Termination Date, the two-year period shall be extended by an equal number of days. The Company’s rights under this Section 24(c)
do not lapse one year form the Termination Date but are contract rights subject to any appropriate statutory limitation period.

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