Document:

Exhibit 10.12 

 

ATIEVA, INC.

 

2021 STOCK INCENTIVE PLAN

 

(Adopted by the Compensation Committee
of the Board of Directors on January 13, 2021)

(Approved by the Shareholders on January
21, 2021)

 

(Amended and restated by the Compensation
Committee of the Board of Directors on February 22, 2021)

(Approved by the Shareholders on February
22, 2021)

 

    

     

    

 

TABLE OF CONTENTS

 

Page

 

	Section 1.   ESTABLISHMENT AND PURPOSE.	1
	 	 
	Section 2.   DEFINITIONS.	1
	(a)   “2009 Plan”	1
	(b)   “2014 Plan”	1
	(c)   “Affiliate”	1
	(d)   “Award”	1
	(e)   “Award Agreement”	1
	(f)   “Board of Directors” or “Board”	2
	(g)   “Cash-Based Award”	2
	(h)   “Cause”	2
	(i)   “Change in Control”	2
	(j)   “Code”	4
	(k)   “Committee”	4
	(l)   “Company”	4
	(m)   “Consultant”	4
	(n)   “Disability”	4
	(o)   “Employee”	4
	(p)   “Exchange Act”	4
	(q)   “Exercise Price”	4
	(r)   “Fair Market Value”	4
	(s)   “ISO”	5
	(t)   “Listing Date”	5
	(u)   “Nonstatutory Option” or “NSO”	5
	(v)   “Officer”	5
	(w)   “Option”	5
	(x)   “Outside Director”	5
	(y)   “Parent”	5
	(z)   “Participant”	5
	(aa)   “Plan”	5
	(bb)   “Purchase Price”	5

 

ATIEVA, INC.

2021 STOCK INCENTIVE PLAN

 

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	(cc)   “Restricted Share”	5
	(dd)   “Restricted Stock Unit”	5
	(ee)   “SAR”	5
	(ff)   “Section 409A”	5
	(gg)   “Securities Act”	6
	(hh)   “Service”	6
	(ii)   “Share”	6
	(jj)   “Stock”	6
	(kk)   “Subsidiary”	6
	Section 3.   ADMINISTRATION.	6
	(a)   Committee Composition	6
	(b)   Committee Appointment	6
	(c)   Committee Responsibilities	7
	Section 4.   ELIGIBILITY.	8
	(a)   General Rule	8
	(b)   Ten-Percent Shareholders	8
	(c)   Attribution Rules	8
	(d)   Outstanding Stock	9
	Section 5.   STOCK SUBJECT TO PLAN.	9
	(a)   Basic Limitation	8
	(b)   Additional Shares	9
	(c)   Substitution and Assumption of Awards	9
	Section 6.   RESTRICTED SHARES.	9
	(a)   Restricted Share Award Agreement	9
	(b)   Payment for Awards	10
	(c)   Vesting	10
	(d)   Voting and Dividend Rights	10
	(e)   Restrictions on Transfer of Shares	10

 

ATIEVA, INC.

2021 STOCK INCENTIVE PLAN

 

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	Section 7.   TERMS AND CONDITIONS OF OPTIONS.	10
	(a)   Option Award Agreement	10
	(b)   Number of Shares	10
	(c)   Exercise Price	11
	(d)   Withholding Taxes	11
	(e)   Exercisability and Term	11
	(f)   Exercise of Options	11
	(g)   No Rights as a Shareholder	11
	(h)   Modification, Extension and Renewal of Options	11
	(i)   Restrictions on Transfer of Shares	12
	(j)   Buyout Provisions	12
	Section 8.   PAYMENT FOR SHARES.	12
	(a)   General Rule	12
	(b)   Surrender of Stock	12
	(c)   Services Rendered	12
	(d)   Cashless Exercise	12
	(e)   Exercise/Pledge	12
	(f)   Net Exercise	13
	(g)   Promissory Note	13
	(h)   Other Forms of Payment	13
	(i)   Limitations under Applicable Law	13
	Section 9.   STOCK APPRECIATION RIGHTS.	13
	(a)   SAR Award Agreement	13
	(b)   Number of Shares	13
	(c)   Exercise Price	13
	(d)   Exercisability and Term	13
	(e)   Exercise of SARs	14
	(f)   Modification, Extension or Assumption of SARs	14
	(g)   Buyout Provisions	14
	Section 10.   RESTRICTED STOCK UNITS.	14
	(a)   Restricted Stock Unit Award Agreement	14
	(b)   Payment for Awards	14
	(c)   Vesting Conditions	14
	(d)   Voting and Dividend Rights	14
	(e)   Form and Time of Settlement of Restricted Stock Units	15
	(f)   Death of Participant	15
	(g)   Creditors’ Rights	15

 

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2021 STOCK INCENTIVE PLAN

 

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	Section 11.   CASH-BASED AWARDS	15
	Section 12.   ADJUSTMENT OF SHARES.	16
	(a)   Adjustments	16
	(b)   Dissolution or Liquidation	16
	(c)   Merger or Reorganization	16
	(d)   Change in Control	17
	(e)   Reservation of Rights	18
	Section 13.   DEFERRAL OF AWARDS.	18
	(a)   Committee Powers	18
	(b)   General Rules	18
	Section 14.   AWARDS UNDER OTHER PLANS.	19
	Section 15.   LEGAL AND REGULATORY REQUIREMENTS.	19
	Section 16.   TAXES.	19
	(a)   Withholding Taxes	19
	(b)   Share Withholding	19
	(c)   Section 409A	19
	Section 17.   TRANSFERABILITY.	20
	Section 18.   TRANSFER RESTRIcTIONS AND REPURCHASE RIGHTS.	20
	Section 19.   PERFORMANCE BASED AWARDS.	20
	Section 20.   FoRFEITURE, CANCELLATION OR RECOUPMENT OF AWARDS.	20
	Section 21.   NO EMPLOYMENT RIGHTS.	21
	Section 22.   DURATION AND AMENDMENTS.	21
	(a)   Term of the Plan	21
	(b)   Right to Amend the Plan	21
	(c)   Effect of Termination	21

 

ATIEVA, INC.

2021 STOCK INCENTIVE PLAN

 

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	Section 23.   AWARDS TO NON-U.S.  PARTICIPANTS.	21
	Section 24.   GOVERNING LAW.	22
	Section 25.   SUCCESSORS AND ASSIGNS.	22
	Section 26.   EXECUTION.	22

 

ATIEVA, INC.

2021 STOCK INCENTIVE PLAN

 

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ATIEVA, INC.

 

2021 STOCK INCENTIVE PLAN

 

Section
1.          ESTABLISHMENT AND
PURPOSE.

 

The Plan was adopted
by the Committee on January 13, 2021 and shall be effective on January 21, 2021 (the “Effective Date”). The
Plan was amended and restated by the Committee on February [__], 2021. The Plan’s
purpose is to enhance the Company’s ability to attract, retain, incent, reward, and motivate persons who make (or are expected
to make) important contributions to the Company and its Subsidiaries and Affiliates by providing these individuals with equity
ownership and other incentive opportunities.

 

The Plan is intended
as the successor to and continuation of the 2014 Plan. Following the Effective Date, no additional stock awards may be granted
under the 2014 Plan. Any unallocated shares of Stock remaining available for issuance pursuant to the exercise of options or issuance
or settlement of stock awards not previously granted under the 2014 Plan as of 12:01 a.m. Pacific time on the Effective Date (the
 “2014 Plan’s Available Reserve”) will cease to be available under the 2014 Plan at such time and will
be added to the Share Reserve of this Plan (as further described in Section 5(a) below) and be then immediately available for
issuance pursuant to Awards granted hereunder. In addition, from and after 12:01 a.m. Pacific time on the Effective Date, all
outstanding stock awards granted under the 2014 Plan and 2009 Plan will remain subject to the terms of the 2014 Plan or 2009 Plan,
as applicable; provided, however, that any shares of Stock subject to outstanding stock awards granted under the 2014 Plan
or 2009 Plan that (i) expire or terminate for any reason prior to exercise or settlement; (ii) are forfeited, cancelled or otherwise
returned to the Company because of the failure to meet a contingency or condition required to vest such shares; or (iii) are reacquired,
withheld (or not issued) to satisfy a tax withholding obligation in connection with an award or to satisfy the purchase price
or exercise price of a stock award (the “Returning Shares”) will immediately be added to the Share Reserve
of this Plan (as further described in Section 5(a) below) as and when such shares become Returning Shares, and become available
for issuance pursuant to Awards granted hereunder. All Awards granted on or after 12:01 a.m. Pacific time on the Effective Date
will be subject to the terms of this Plan.

 

Section
2.          DEFINITIONS.

 

		(a)	“2009
                                         Plan” means the 2009 Share Plan of Atieva, Inc., as amended.

 

		(b)	“2014
                                         Plan” means the 2014 Share Plan of Atieva, Inc., as amended.

 

		(c)	“Affiliate”
                                         means any entity other than a Subsidiary, if the Company and/or one or more Subsidiaries
                                         own not less than 50% of such entity.

 

		(d)	“Award”
                                         means any award of an Option, a SAR, a Restricted Share, a Restricted Stock Unit or a
                                         Cash-Based Award under the Plan.

 

(e)            “Award Agreement” means the agreement between the Company and the recipient of an Award which contains
the terms, conditions and restrictions pertaining to such Award.

 

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		(f)	“Board
                                         of Directors” or “Board” means the Board of Directors of the Company,
                                         as constituted from time to time.

 

		(g)	“Cash-Based
                                         Award” means an Award that entitles the Participant to receive a cash-denominated
                                         payment.

 

(h)          
“Cause” means, unless such term or an equivalent term is otherwise defined by the applicable Award Agreement
or other written agreement between a Participant and the Company applicable to an Award, any of the following: (i) Participant’s
willful failure substantially to perform his or her duties and responsibilities to the Company or deliberate violation of a Company
policy; (ii) Participant’s commission of any act of fraud, embezzlement, dishonesty or any other willful misconduct that
has caused or is reasonably expected to result in material injury to the Company; (iii) Participant’s conviction of a felony,
any crime involving moral turpitude or a misdemeanor where imprisonment is imposed, (iv) Participant’s gross incompetence
in performing his or her duties to the Company or any of its Subsidiaries or Affiliates, (v) Participant’s material failure
to comply with applicable laws or governmental regulations related to or in the course of Participant’s employment with
or providing services to the Company or any of its Subsidiaries or Affiliates, (vi) unauthorized use or disclosure by Participant
of any proprietary information or trade secrets of the Company or any other party to whom the Participant owes an obligation of
nondisclosure as a result of his or her relationship with the Company; or (vii) Participant’s willful breach of any of his
or her obligations under any written agreement or covenant with the Company. The determination as to whether a Participant is
being terminated for Cause shall be made in good faith by the Company and shall be final and binding on the Participant. The foregoing
definition does not in any way limit the Company’s ability to terminate a Participant’s employment or consulting relationship
at any time as provided in Section 5(d) below, and the term “Company” will be interpreted to include any Subsidiary,
Parent or Affiliate, as appropriate.

 

(i)            “Change in Control” means the occurrence of any of the following events:

 

		(i)	A
                                         change in the composition of the Board occurs, as a result of which fewer than one-half
                                         of the incumbent directors are directors who either:

 

		(A)	Had
                                         been directors of the Company on the “look-back date” (as defined below)
                                         (the “original directors”); or

 

		(B)	Were
                                         elected, or nominated for election, to the Board with the affirmative votes of at least
                                         a majority of the aggregate of the original directors who were still in office at the
                                         time of the election or nomination and the directors whose election or nomination was
                                         previously so approved (the “continuing directors”);

 

provided, however, that for
this purpose, the “original directors” and “continuing directors” shall not include any individual whose
initial assumption of office occurred as a result of an actual or threatened election contest with respect to the election or
removal of directors or other actual or threatened solicitation of proxies or consents, by or on behalf of a person other than
the Board;

 

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		(ii)	Any
                                         “person” (as defined below) who by the acquisition or aggregation of securities,
                                         is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the
                                         Exchange Act), directly or indirectly, of securities of the Company representing 50%
                                         or more of the combined voting power of the Company’s then outstanding securities
                                         ordinarily (and apart from rights accruing under special circumstances) having the right
                                         to vote at elections of directors (the “Base Capital Stock”); except that
                                         any change in the relative beneficial ownership of the Company’s securities by
                                         any person resulting solely from a reduction in the aggregate number of outstanding Shares
                                         of Base Capital Stock, and any decrease thereafter in such person’s ownership of
                                         securities, shall be disregarded until such person increases in any manner, directly
                                         or indirectly, such person’s beneficial ownership of any securities of the Company;

 

		(iii)	The
                                         consummation of a merger or consolidation of the Company or a Subsidiary of the Company
                                         with or into another entity or any other corporate reorganization, if persons who were
                                         not shareholders of the Company immediately prior to such merger, consolidation or other
                                         reorganization own immediately after such merger, consolidation or other reorganization
                                         50% or more of the voting power of the outstanding securities of each of (A) the Company
                                         (or its successor) and (B) any direct or indirect parent corporation of the Company (or
                                         its successor); or

 

		(iv)	The
                                         sale, transfer, or other disposition of all or substantially all of the Company’s
                                         assets.

 

For purposes of subsection
(i)(i) above, the term “look-back” date means the later of (1) the Effective Date and (2) the date that is 24 months
prior to the date of the event that may constitute a Change in Control.

 

For purposes of subsection
(i)(ii) above, the term “person” shall have the same meaning as when used in Sections 13(d) and 14(d) of the Exchange
Act, but shall exclude (1) a trustee or other fiduciary holding securities under an employee benefit plan maintained by the Company
or a Parent or Subsidiary and (2) a corporation owned directly or indirectly by the shareholders of the Company in substantially
the same proportions as their ownership of the Stock.

 

Any other provision
of this Section 2(i) notwithstanding, a transaction shall not constitute a Change in Control if its sole purpose is to change
the state of the Company’s incorporation or to create a holding company that will be owned in substantially the same proportions
by the persons who held the Company’s securities immediately before such transaction, and a Change in Control shall not
be deemed to occur if the Company files a registration statement with the United States Securities and Exchange Commission in
connection with an initial or secondary public offering of securities or debt of the Company to the public.

 

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(j)             “Code”
means the United States Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated thereunder.

 

(k)            “Committee”
means the Compensation Committee as designated by the Board, which is authorized to administer the Plan, as described in Section
3 hereof.

 

(l)             “Company”
means Atieva, Inc., an exempted company incorporated under the laws of the Cayman Islands or any successor thereto.

 

(m)           “Consultant”
means an individual who is a consultant or advisor and who provides bona fide services to the Company, a Parent, a Subsidiary,
or an Affiliate as an independent contractor (not including service as a member of the Board) or a member of the Board of a Parent
or a Subsidiary, in each case who is not an Employee.

 

(n)            “Disability”
means any permanent and total disability as defined by Section 22(e)(3) of the Code.

 

(o)            “Employee” means any individual who is a common-law employee of the Company, a Parent, a Subsidiary,
or an Affiliate.

 

(p)            “Exchange
Act” means the United States Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

(q)           “Exercise
Price” means, in the case of an Option, the amount for which one Share may be purchased upon exercise of such Option, as
specified in the applicable Option Award Agreement. “Exercise Price” means, in the case of a SAR, an amount, as specified
in the applicable SAR Award Agreement, which is subtracted from the Fair Market Value of one Share in determining the amount payable
upon exercise of such SAR.

 

(r)           “Fair
Market Value” with respect to a Share, means the market price of one Share, determined by the Committee as follows:

 

		(i)	If
                                         the Stock was traded over-the-counter on the date in question, then the Fair Market Value
                                         shall be equal to the last transaction price quoted for such date by the OTC Bulletin
                                         Board or, if not so quoted, shall be equal to the mean between the last reported representative
                                         bid and asked prices quoted for such date by the principal automated inter-dealer quotation
                                         system on which the Stock is quoted or, if the Stock is not quoted on any such system,
                                         by the Pink Quote system;

 

		(ii)	If
                                         the Stock was traded on any established stock exchange (such as the New York Stock Exchange,
                                         The Nasdaq Global Market or The Nasdaq Global Select Market) or national market system
                                         on the date in question, then the Fair Market Value shall be equal to the closing price
                                         reported for such date by the applicable exchange or system; or

 

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		(iii)	If
                                         none of the foregoing provisions is applicable, then the Fair Market Value shall be determined
                                         by the Committee in good faith on such basis as it deems appropriate.

 

In all cases, the determination of Fair
Market Value by the Committee shall be conclusive and binding on all persons.

 

(s)            “ISO”
means an employee incentive stock option described in Section 422 of the Code.

 

(t)            “Listing
Date” means the date on which the Company has a class of equity securities registered under Section 12 of the Securities
Act.

 

(u)           “Nonstatutory
Option” or “NSO” means an employee stock option that is not an ISO.

 

(v)            “Officer”
means any person designated by the Company as an officer.

 

(w)           “Option”
means an ISO or NSO granted under the Plan and entitling the holder to purchase Shares.

 

(x)            “Outside
Director” means a member of the Board who is not a common-law employee of, or paid consultant to, the Company, a Parent
or a Subsidiary.

 

(y)            “Parent”
means any corporation (other than the Company) in an unbroken chain of corporations ending with the Company, if each of the corporations
other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of
the other corporations in such chain. A corporation that attains the status of a Parent on a date after the adoption of the Plan
shall be a Parent commencing as of such date.

 

(z)             “Participant”
means a person who holds an Award.

 

(aa)          “Plan”
means this 2021 Stock Incentive Plan of Atieva, Inc., as amended from time to time.“

 

(bb)         “Purchase
Price” means the consideration for which one Share may be acquired under the Plan (other than upon exercise of an
Option), as specified by the Committee.

 

(cc)          “Restricted
Share” means a Share awarded under the Plan.

 

(dd)         “Restricted
Stock Unit” means a bookkeeping entry representing the Company’s obligation to deliver one Share (or distribute cash)
on a future date in accordance with the provisions of a Restricted Stock Unit Award Agreement.

 

(ee)         “SAR”
means a stock appreciation right granted under the Plan.

 

(ff)           “Section
409A” means Section 409A of the Code.

 

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(gg)         “Securities
Act” means the United States Securities Act of 1933, as amended, the rules and regulations promulgated thereunder.

 

(hh)         “Service” means service as an Employee, Consultant or Outside Director, subject
to such further limitations as may be set forth in the Plan or the applicable Award Agreement. Service does not terminate
when an Employee goes on a bona fide leave of absence, that was approved by the Company in writing, if the terms of the leave
provide for continued Service crediting, or when continued Service crediting is required by applicable law. However, for
purposes of determining whether an Option is entitled to ISO status, an Employee’s employment will be treated as
terminating three months after such Employee went on leave, unless such Employee’s right to return to active work is
guaranteed by law or by a contract. Service terminates in any event when the approved leave ends, unless such Employee
immediately returns to active work. The Company determines which leaves of absence count toward Service, and when Service
terminates for all purposes under the Plan.

 

(ii)            “Share”
means one Share of Stock, as adjusted in accordance with Section 12 (if applicable).

 

(jj)           “Stock”
means the Common Shares of the Company.

 

(kk)         “Subsidiary”
means any corporation, if the Company owns and/or one or more other Subsidiaries own not less than 50% of the total combined voting
power of all classes of outstanding stock of such corporation. A corporation that attains the status of a Subsidiary on a date
after the adoption of the Plan shall be considered a Subsidiary commencing as of such date. The determination of whether an entity
is a “Subsidiary” shall be made in accordance with Section 424(f) of the code.

 

Section
3.          ADMINISTRATION.

 

(a)           Committee
Composition. The Plan shall be administered by a Committee appointed by the Board, or by the Board acting as the Committee.
The Committee shall consist of two or more directors of the Company. In addition, on and following the Listing Date, to the extent
required by the Board, the composition of the Committee shall satisfy such requirements of the
New York Stock Exchange (“NYSE”) or the Nasdaq Stock Market (“Nasdaq”), as applicable,
and as the Securities and Exchange Commission may establish for administrators acting under plans intended to qualify for exemption
under Rule 16b-3 (or its successor) under the Exchange Act.

 

(b)           Committee
Appointment. The Board may also appoint one or more separate committees of the Board, each composed of one or more directors
of the Company who need not satisfy the requirements of Section 3(a), who may administer the Plan, grant Awards under the Plan
and determine all terms of such grants, in each case with respect to all Employees, Consultants and Outside Directors (except
such as may be on such committee), provided that such committee or committees may perform these functions only with respect to
Employees who are not considered Officers or members of the Board. Within the limitations of the preceding sentence, any reference
in the Plan to the Committee shall include such committee or committees appointed pursuant to the preceding sentence. To the extent
permitted by applicable laws, the Board or Committee may also authorize one or more Officers of the Company to designate Employees,
other than Officers, to receive Awards and/or to determine the number of such Awards to be received by such persons; provided,
however, that the Board or Committee shall specify the total number of Awards that such Officers may so award.

 

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(c)            Committee
Responsibilities. Subject to the provisions of the Plan, the Committee shall have full authority and discretion to take the
following actions:

 

		(i)	To
                                         interpret the Plan and to apply its provisions;

 

		(ii)	To
                                         adopt, amend, or rescind rules, procedures, and forms relating to the Plan;

 

		(iii)	To
                                         adopt, amend, or terminate sub-plans established for the purpose of satisfying applicable
                                         foreign laws including qualifying for preferred tax treatment under applicable foreign
                                         tax laws;

 

		(iv)	To
                                         authorize any person to execute, on behalf of the Company, any instrument required to
                                         carry out the purposes of the Plan;

 

		(v)	To
                                         determine when Awards are to be granted under the Plan;

 

		(vi)	To
                                         select the Participants to whom Awards are to be granted;

 

		(vii)	To
                                         determine the type of Award and number of Shares or amount of cash to be made subject
                                         to each Award;

 

		(viii)	To
                                         prescribe the terms and conditions of each Award, including (without limitation) the
                                         Exercise Price and Purchase Price, and the vesting or duration of the Award (including
                                         accelerating the vesting of Awards, either at the time of the Award or thereafter, without
                                         the consent of the Participant), to determine whether an Option is to be classified as
                                         an ISO or as an NSO, and to specify the provisions of the agreement relating to such
                                         Award;

 

		(ix)	To
                                         amend any outstanding Award Agreement, subject to applicable legal restrictions and to
                                         the consent of the Participant if the Participant’s rights or obligations would
                                         be materially impaired;

 

		(x)	To
                                         prescribe the consideration for the grant of each Award or other right under the Plan
                                         and to determine the sufficiency of such consideration;

 

		(xi)	To
                                         determine the disposition of each Award or other right under the Plan in the event of
                                         a Participant’s divorce or dissolution of marriage;

 

		(xii)	To
                                         determine whether Awards under the Plan will be granted in replacement of other grants
                                         under an incentive or other compensation plan of an acquired business;

 

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		(xiii)	To
                                         correct any defect, supply any omission, or reconcile any inconsistency in the Plan or
                                         any Award Agreement;

 

		(xiv)	To
                                         establish or verify the extent of satisfaction of any performance goals or other conditions
                                         applicable to the grant, issuance, exercisability, vesting, and/or ability to retain
                                         any Award; and

 

		(xv)	To
                                         take any other actions deemed necessary or advisable for the administration of the Plan.

 

Subject to the requirements of applicable
law, the Committee may designate persons other than members of the Committee to carry out its responsibilities and may prescribe
such conditions and limitations as it may deem appropriate, except that the Committee may not delegate its authority with regard
to the selection for participation of or the granting of Awards under the Plan to persons who are Officers. All decisions, interpretations
and other actions of the Committee shall be final and binding on all Participants and all persons deriving their rights from a
Participant. No member of the Committee shall be liable for any action that he has taken or has failed to take in good faith with
respect to the Plan or any Award under the Plan.

 

Section
4.          ELIGIBILITY.

 

(a)            General
Rule. Only Employees, Consultants and Outside Directors shall be eligible for the grant of Awards. Only common-law employees
of the Company, a Parent, or a Subsidiary shall be eligible for the grant of ISOs.

 

(b)           Ten-Percent
Shareholders. An Employee who owns more than 10% of the total combined voting power of all classes of outstanding stock of
the Company, a Parent or Subsidiary shall not be eligible for the grant of an ISO unless such grant satisfies the requirements
of Section 422(c)(5) of the Code.

 

(c)            Attribution
Rules. For purposes of Section 4(b) above, in determining stock ownership, an Employee shall be deemed to own the stock owned,
directly or indirectly, by or for such Employee’s brothers, sisters, spouse, ancestors, and lineal descendants. Stock owned,
directly or indirectly, by or for a corporation, partnership, estate, or trust shall be deemed to be owned proportionately by
or for its shareholders, partners, or beneficiaries.

 

(d)           Outstanding
Stock. For purposes of Section 4(b) above, “outstanding stock” shall include all stock actually issued and outstanding
immediately after the grant. “Outstanding stock” shall not include Shares authorized for issuance under outstanding
options held by the Employee or by any other person.

 

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Section
5.          STOCK SUBJECT TO PLAN.

 

(a)            Basic
Limitation. Shares offered under the Plan shall be authorized but unissued Shares or treasury Shares. The maximum aggregate
number of Shares authorized for issuance as Awards under the Plan shall not exceed 47,534,042 Shares (the “Share Reserve”),
which number is the sum of (x) 16,616,225 new Shares, plus (y) Shares subject to the 2014 Plan’s Available Reserve, plus
(z) the Returning Shares, if any, which become available for grant under this Plan from time to time. Notwithstanding the foregoing,
the number of Shares that may be delivered in the aggregate pursuant to the exercise of ISOs granted under the Plan shall not
exceed 95,068,084 Shares plus, to the extent allowable under Section 422 of the Code, any Shares that become available for issuance
under the Plan pursuant to Section 5(c). The limitations of this Section 5(a) shall be subject to adjustment pursuant to Section
12. The number of Shares that are subject to Awards outstanding at any time under the Plan shall not exceed the number of Shares
which then remain available for issuance under the Plan. The Company shall at all times reserve and keep available sufficient
Shares to satisfy the requirements of the Plan.

 

 

(b)           Additional
Shares. If Restricted Shares or Shares issued upon the exercise of options are forfeited, then such Shares shall again become
available for Awards under the Plan. If Restricted Stock Units, Options, or SARs are forfeited or terminate for any reason before
being exercised or settled, or an Award is settled in cash without the delivery of Shares to the holder, then the corresponding
Shares shall again become available for Awards under the Plan. If Restricted Stock Units or SARs are settled, then only the number
of Shares (if any) actually issued in settlement of such Restricted Stock Units or SARs shall reduce the number available in Section
5(a) and the balance (including any Shares withheld to satisfy tax withholding obligations) shall again become available for Awards
under the Plan. Any Shares withheld to satisfy the Exercise Price or tax withholding obligation pursuant to any Award of Options
or SARs shall be added back to the Shares available for Awards under the Plan. Notwithstanding the foregoing provisions of this
Section 5(b), Shares that have actually been issued shall not again become available for Awards under the Plan, except for Shares
that are forfeited and do not become vested.

 

(c)           Substitution
and Assumption of Awards. The Committee may make Awards under the Plan by assumption, substitution, or replacement of stock
options, stock appreciation rights, restricted stock units, or similar awards granted by another entity (including a Parent or
Subsidiary), if such assumption, substitution, or replacement is in connection with an asset acquisition, stock acquisition, merger,
consolidation, or similar transaction involving the Company (and/or its Parent or Subsidiary) and such other entity (and/or its
affiliate). The terms of such assumed, substituted, or replaced Awards shall be as the Committee, in its discretion, determines
is appropriate, notwithstanding limitations on Awards in the Plan. Any such substitute or assumed Awards shall not count against
the Share limitation set forth in Section 5(a) (nor shall Shares subject to such Awards be added to the Shares available for Awards
under the Plan as provided in Section 5(b) above), except that Shares acquired by exercise of substitute ISOs will count against
the maximum number of Shares that may be issued pursuant to the exercise of ISOs under the Plan.

 

Section
6.          RESTRICTED
SHARES.

 

(a)           Restricted
Share Award Agreement. Each grant of Restricted Shares under the Plan shall be evidenced by a Restricted Share Award Agreement
between the Participant and the Company. Such Restricted Shares shall be subject to all applicable terms of the Plan and may be
subject to any other terms that are not inconsistent with the Plan. The provisions of the various Restricted Share Award Agreements
entered into under the Plan need not be identical.

 

    9 

     

    

 

(b)           Payment
for Awards. Restricted Shares may be sold or awarded under the Plan for such consideration as the Committee may determine,
including (without limitation) cash, cash equivalents, full-recourse promissory notes, past services, and future services.

 

(c)           Vesting.
Each Award of Restricted Shares may or may not be subject to vesting. Vesting shall occur, in full or in installments, upon
satisfaction of the conditions specified in the Restricted Share Award Agreement. A Restricted Share Award Agreement may provide
for accelerated vesting in the event of the Participant’s death, Disability or retirement or other events.

 

(d)          Voting
and Dividend Rights. A holder of Restricted Shares awarded under the Plan shall have the same voting, dividend, and other
rights as the Company’s other shareholders, except that in the case of any unvested Restricted Shares, the holder shall
not be entitled to any dividends or other distributions paid or distributed by the Company in respect of outstanding Shares. Notwithstanding
the foregoing, at the Committee’s discretion, the holder of unvested Restricted Shares may be credited with such dividends
and other distributions, provided that such dividends and other distributions shall be paid or distributed to the holder only
if, when and to the extent such unvested Restricted Shares vest. The value of dividends and other distributions payable or distributable
with respect to any unvested Restricted Shares that do not vest shall be forfeited. At the Committee’s discretion, the Restricted
Share Award Agreement may require that the holder of Restricted Shares invest any cash dividends received in additional Restricted
Shares. Such additional Restricted Shares shall be subject to the same conditions as the Award with respect which the dividend
was paid. For the avoidance of doubt, other than with respect to the right to receive dividends and other distributions, the holders
of unvested Restricted Shares shall have the same voting rights and other rights as the Company’s other shareholders in
respect of such unvested Restricted Shares.

 

(e)           Restrictions
on Transfer of Shares. Restricted Shares shall be subject to such rights of repurchase, rights of first refusal, or other
restrictions as the Committee may determine. Such restrictions shall be set forth in the applicable Restricted Share Award Agreement
and shall apply in addition to any general restrictions that may apply to all holders of Shares.

 

Section
7.          TERMS AND CONDITIONS OF OPTIONS.

 

(a)           Option
Award Agreement. Each grant of an Option under the Plan shall be evidenced by an Option Award Agreement between the Participant
and the Company. Such Option shall be subject to all applicable terms and conditions of the Plan and may be subject to any other
terms and conditions which are not inconsistent with the Plan and which the Committee deems appropriate for inclusion in an Option
Award Agreement. The Option Award Agreement shall specify whether the Option is an ISO or an NSO. The provisions of the various
Option Award Agreements entered into under the Plan need not be identical.

 

(b)           Number
of Shares. Each Option Award Agreement shall specify the number of Shares that are subject to the Option and shall provide
for the adjustment of such number in accordance with Section 12.

 

    10 

     

    

 

(c)           Exercise
Price. Each Option Award Agreement shall specify the Exercise Price. The Exercise Price of an ISO shall not be less than 100%
of the Fair Market Value of a Share on the date of grant, and the Exercise Price of an NSO shall not be less than 100% of the
Fair Market Value of a Share on the date of grant. Notwithstanding the foregoing, Options may be granted with an Exercise Price
of less than 100% of the Fair Market Value per Share on the date of grant pursuant to a transaction described in, and in a manner
consistent with, Section 424(a) of the Code. Subject to the foregoing in this Section 7(c), the Exercise Price under any Option
shall be determined by the Committee in its sole discretion. The Exercise Price shall be payable in one of the forms described
in Section 8.

 

(d)           Withholding
Taxes. As a condition to the exercise of an Option, the Participant shall make such arrangements as the Committee may require
for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with such
exercise. The Participant shall also make such arrangements as the Committee may require for the satisfaction of any federal,
state, local or foreign withholding tax obligations that may arise in connection with the disposition of Shares acquired by exercising
an Option.

 

(e)            Exercisability
and Term. Each Option Award Agreement shall specify the date when all or any installment of the Option is to become exercisable.
The Option Award Agreement shall also specify the term of the Option; provided that the term of an ISO shall in no event exceed
10 years from the date of grant (five years for ISOs granted to Employees described in Section 4(b)). An Option Award Agreement
may provide for accelerated exercisability in the event of the Participant’s death, Disability, or retirement or other events
and may provide for expiration prior to the end of its term in the event of the termination of the Participant’s Service.
Options may be awarded in combination with SARs, and such an Award may provide that the Options will not be exercisable unless
the related SARs are forfeited. Subject to the foregoing in this Section 7(e), the Committee in its sole discretion shall determine
when all or any installment of an Option is to become exercisable and when an Option is to expire.

 

(f)            Exercise
of Options. Each Option Award Agreement shall set forth the extent to which the Participant shall have the right to exercise
the Option following termination of the Participant’s Service with the Company and its Subsidiaries, and the right to exercise
the Option of any executors or administrators of the Participant’s estate or any person who has acquired such Option(s)
directly from the Participant by bequest or inheritance. Such provisions shall be determined in the sole discretion of the Committee,
need not be uniform among all Options issued pursuant to the Plan, and may reflect distinctions based on the reasons for termination
of Service.

 

(g)          No
Rights as a Shareholder. A Participant shall have no rights as a shareholder with respect to any Shares covered by his Option
until the date of the issuance of a share certificate for such Shares. No adjustments shall be made, except as provided in Section
12.

 

(h)           Modification,
Extension and Renewal of Options. Within the limitations of the Plan, the Committee may modify, extend, or renew outstanding
options or may accept the cancellation of outstanding options (to the extent not previously exercised), whether or not granted
hereunder, in return for the grant of new Options for the same or a different number of Shares and at the same or a different
Exercise Price, or in return for the grant of a different Award for the same or a different number of Shares or for cash. The
foregoing notwithstanding, no modification of an Option shall, without the consent of the Participant, materially impair his or
her rights or obligations under such Option; provided, however, that an amendment or modification that may cause an ISO to become
a NSO, and any amendment or modification that is required to comply with the rules applicable to ISOs, shall not be treated as
materially impairing the rights or obligations of the Participant.

 

    11 

     

    

 

(i)            Restrictions
on Transfer of Shares. Any Shares issued upon exercise of an Option shall be subject to such special forfeiture conditions,
rights of repurchase, rights of first refusal, and other transfer restrictions as the Committee may determine. Such restrictions
shall be set forth in the applicable Option Award Agreement and shall apply in addition to any general restrictions that may apply
to all holders of Shares.

 

(j)            Buyout
Provisions. The Committee may at any time (i) offer to buy out for a payment in cash or cash equivalents an Option previously
granted or (ii) authorize a Participant to elect to cash out an Option previously granted, in either case at such time and based
upon such terms and conditions as the Committee shall establish.

 

Section
8.          PAYMENT
FOR SHARES.

 

(a)           General
Rule. The entire Exercise Price or Purchase Price of Shares issued under the Plan shall be payable in lawful money of the
United States of America at the time when such Shares are purchased, except as provided in Section 8(b) through Section 8(h) below.

 

(b)           Surrender
of Stock. To the extent that an Option Award Agreement so provides, payment may be made all or in part by surrendering, or
attesting to the ownership of, Shares which have already been owned by the Participant or his or her representative. Such Shares
shall be valued at their Fair Market Value on the date when the new Shares are purchased under the Plan. The Participant shall
not surrender, or attest to the ownership of, Shares in payment of the Exercise Price if such action would cause the Company to
recognize compensation expense (or additional compensation expense) with respect to the Option for financial reporting purposes.

 

(c)           Services
Rendered. At the discretion of the Committee, Shares may be awarded under the Plan in consideration of services rendered to
the Company or a Subsidiary. If Shares are awarded without the payment of a Purchase Price in cash, the Committee shall make a
determination (at the time of the Award) of the value of the services rendered by the Participant and the sufficiency of the consideration
to meet the requirements of Section 6(b).

 

(d)           Cashless
Exercise. To the extent that an Option Award Agreement so provides, if the Stock is traded on an established securities market,
payment may be made all or in part by delivery (on a form prescribed by the Committee) of an irrevocable direction to a securities
broker to sell Shares and to deliver all or part of the sale proceeds to the Company in payment of the aggregate Exercise Price.

 

(e)           Exercise/Pledge.
To the extent that an Option Award Agreement so provides, payment may be made all or in part by delivery (on a form prescribed
by the Committee) of an irrevocable direction to a securities broker or lender to pledge Shares, as security for a loan, and to
deliver all or part of the loan proceeds to the Company in payment of the aggregate Exercise Price.

 

    12 

     

    

 

(f)           Net
Exercise. To the extent that an Option Award Agreement so provides, by a “net exercise” arrangement pursuant to
which the number of Shares issuable upon exercise of the Option shall be reduced by the largest whole number of Shares having
an aggregate Fair Market Value that does not exceed the aggregate Exercise Price (plus tax withholdings, if applicable) and any
remaining balance of the aggregate Exercise Price (and/or applicable tax withholdings) not satisfied by such reduction in the
number of whole Shares to be issued shall be paid by the Participant in cash or any other form of payment permitted under the
Option Award Agreement.

 

(g)           Promissory
Note. To the extent that an Option Award Agreement or Restricted Share Award Agreement so provides, payment may be made all
or in part by delivering (on a form prescribed by the Company) a full-recourse promissory note.

 

(h)           Other
Forms of Payment. To the extent that an Option Award Agreement or Restricted Share Award Agreement so provides, payment may
be made in any other form that is consistent with applicable laws, regulations, and rules.

 

(i)            Limitations
under Applicable Law. Notwithstanding anything herein or in an Option Award Agreement or Restricted Share Award Agreement
to the contrary, payment may not be made in any form that is unlawful, as determined by the Committee in its sole discretion.

 

Section
9.          STOCK APPRECIATION RIGHTS.

 

(a)           SAR
Award Agreement. Each grant of a SAR under the Plan shall be evidenced by a SAR Award Agreement between the Participant and
the Company. Such SAR shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not
inconsistent with the Plan. The provisions of the various SAR Award Agreements entered into under the Plan need not be identical.

 

(b)           Number
of Shares. Each SAR Award Agreement shall specify the number of Shares to which the SAR pertains and shall provide for the
adjustment of such number in accordance with Section 12.

 

(c)           Exercise
Price. Each SAR Award Agreement shall specify the Exercise Price. The Exercise Price of a SAR shall not be less than 100%
of the Fair Market Value of a Share on the date of grant. Notwithstanding the foregoing, SARs may be granted with an Exercise
Price of less than 100% of the Fair Market Value per Share on the date of grant pursuant to a transaction described in, and in
a manner consistent with, Section 424(a) of the Code. Subject to the foregoing in this Section 9(c), the Exercise Price under
any SAR shall be determined by the Committee in its sole discretion.

 

(d)           Exercisability
and Term. Each SAR Award Agreement shall specify the date when all or any installment of the SAR is to become exercisable.
The SAR Award Agreement shall also specify the term of the SAR. A SAR Award Agreement may provide for accelerated exercisability
in the event of the Participant’s death, Disability, retirement, or other events and may provide for expiration prior to
the end of its term in the event of the termination of the Participant’s Service. SARs may be awarded in combination with
Options, and such an Award may provide that the SARs will not be exercisable unless the related Options are forfeited. A SAR may
be included in an ISO only at the time of grant but may be included in an NSO at the time of grant or thereafter. A SAR granted
under the Plan may provide that it will be exercisable only in the event of a Change in Control.

 

    13 

     

    

 

(e)              
Exercise of SARs. Upon exercise of a SAR, the Participant
(or any person having the right to exercise the SAR after his or her death) shall receive from the Company (i) Shares, (ii) cash
or (iii) a combination of Shares and cash, as the Committee shall determine. The amount of cash and/or the Fair Market Value of
Shares received upon exercise of SARs shall, in the aggregate, be equal to the amount by which the Fair Market Value (on the date
of surrender) of the Shares subject to the SARs exceeds the Exercise Price.

 

(f)               
Modification, Extension or Assumption of SARs. Within
the limitations of the Plan, the Committee may modify, extend, or assume outstanding SARs or may accept the cancellation of outstanding
SARs (whether granted by the Company or by another issuer) in return for the grant of new SARs for the same or a different number
of Shares and at the same or a different Exercise Price, or in return for the grant of a different Award for the same or a different
number of Shares or cash. The foregoing notwithstanding, no modification of a SAR shall, without the consent of the holder, materially
impair his or her rights or obligations under such SAR.

 

(g)              
Buyout Provisions. The Committee may at any time
(i) offer to buy out for a payment in cash or cash equivalents a SAR previously granted, or (ii) authorize a Participant to elect
to cash out a SAR previously granted, in either case at such time and based upon such terms and conditions as the Committee shall
establish.

 

	Section
10.	RESTRICTED STOCK UNITS.

 

(a)              
Restricted Stock Unit Award Agreement. Each grant
of Restricted Stock Units under the Plan shall be evidenced by a Restricted Stock Unit Award Agreement between the Participant
and the Company. Such Restricted Stock Units shall be subject to all applicable terms of the Plan and may be subject to any other
terms that are not inconsistent with the Plan. The provisions of the various Restricted Stock Unit Award Agreements entered into
under the Plan need not be identical.

 

(b)              
Payment for Awards. To the extent that an Award is granted in the form of Restricted Stock Units, no cash
consideration shall be required of the Award recipients.

 

(c)              
Vesting Conditions. Each Award of Restricted Stock
Units may or may not be subject to vesting. Vesting shall occur, in full or in installments, upon satisfaction of the conditions
specified in the Restricted Stock Unit Award Agreement. A Restricted Stock Unit Award Agreement may provide for accelerated vesting
in the event of the Participant’s death, Disability, retirement, or other events.

 

(d)              
Voting and Dividend Rights. The holders of Restricted
Stock Units shall have no voting rights. Prior to settlement or forfeiture, any Restricted Stock Unit awarded under the Plan may,
at the Committee’s discretion, carry with it a right to dividend equivalents. Such right, if awarded, entitles the holder
to be credited with an amount equal to all cash dividends paid on one Share while the Restricted Stock Unit is outstanding. Settlement
of dividend equivalents may be made in the form of cash, in the form of Shares, or in a combination of both. Dividend equivalents
may also be converted into additional Restricted Stock Units at the Committee’s discretion. Dividend equivalents shall not
be distributed prior to settlement of the Restricted Stock Unit to which the dividend equivalents pertain. Prior to distribution,
any dividend equivalents shall be subject to the same conditions and restrictions (including without limitation, any forfeiture
conditions) as the Restricted Stock Units to which they attach. The value of dividend equivalents payable or distributable with
respect to any unvested Restricted Stock Units that do not vest shall be forfeited.

 

    	 	14	 

     

    

 

(e)              
Form and Time of Settlement of Restricted Stock Units.
Settlement of vested Restricted Stock Units may be made in the form of (i) cash, (ii) Shares or (iii) any combination of both,
as determined by the Committee. The actual number of Restricted Stock Units eligible for settlement may be larger or smaller than
the number included in the original Award, based on predetermined performance factors. Methods of converting Restricted Stock
Units into cash may include (without limitation) a method based on the average Fair Market Value of Shares over a series of trading
days. A Restricted Stock Unit Award Agreement may provide that vested Restricted Stock Units may be settled in a lump sum or in
installments. A Restricted Stock Unit Award Agreement may provide that the distribution may occur or commence when all vesting
conditions applicable to the Restricted Stock Units have been satisfied or have lapsed, or it may be deferred to any later date,
subject to compliance with Section 409A. The amount of a deferred distribution may be increased by an interest factor or by dividend
equivalents. Until an Award of Restricted Stock Units is settled, the number of such Restricted Stock Units shall be subject to
adjustment pursuant to Section 12.

 

(f)               
Death of Participant. Any Restricted Stock Unit
Award that becomes payable after the Participant’s death shall be distributed to the Participant’s beneficiary or
beneficiaries. Each recipient of a Restricted Stock Unit Award under the Plan shall designate one or more beneficiaries for this
purpose by filing the prescribed form with the Company. A beneficiary designation may be changed by filing the prescribed form
with the Company at any time before the Participant’s death. If no beneficiary was designated or if no designated beneficiary
survives the Participant, then any Restricted Stock Units Award that becomes payable after the Participant’s death shall
be distributed to the Participant’s estate.

 

(g)              
Creditors’ Rights. A holder of Restricted
Stock Units shall have no rights other than those of a general creditor of the Company. Restricted Stock Units represent an unfunded
and unsecured obligation of the Company, subject to the terms and conditions of the applicable Restricted Stock Unit Award Agreement.

 

	Section
11.	CASH-BASED AWARDS

 

The Committee may,
in its sole discretion, grant Cash-Based Awards to any Participant in such number or amount and upon such terms, and subject to
such conditions, as the Committee shall determine at the time of grant and specify in an applicable Award Agreement. The Committee
shall determine the maximum duration of the Cash-Based Award, the amount of cash which may be payable pursuant to the Cash-Based
Award, the conditions upon which the Cash-Based Award shall become vested or payable, and such other provisions as the Committee
shall determine. Each Cash-Based Award shall specify a cash-denominated payment amount, formula, or payment ranges as determined
by the Committee. Payment, if any, with respect to a Cash-Based Award shall be made in accordance with the terms of the Award and
may be made in cash or in Shares, as the Committee determines.

 

    	 	15	 

     

    

 

	Section
12.	ADJUSTMENT OF SHARES.

 

(a)              
Adjustments. In the event of a subdivision of the
outstanding Stock, a declaration of a dividend payable in Shares, a declaration of a dividend payable in a form other than Shares
in an amount that has a material effect on the price of Shares, a combination or consolidation of the outstanding Stock (by reclassification
or otherwise) into a lesser number of Shares, a recapitalization, a spin-off or a similar occurrence, the Committee shall make
appropriate and equitable adjustments in:

 

		(i)	The class(es) and number of securities available for future Awards and the limitations set forth
under Section 5;

 

		(ii)	The class(es) and number of securities covered by each outstanding Award; and

 

		(iii)	The Exercise Price under each outstanding Option and SAR.

 

The Committee will make such adjustments,
and its determination will be final, binding and conclusive.

 

(b)              
Dissolution or Liquidation. To the extent not previously
exercised or settled, Options, SARs, and Restricted Stock Units shall terminate immediately prior to the dissolution or liquidation
of the Company.

 

(c)              
Merger or Reorganization. In the event that the
Company is a party to a merger or other reorganization, outstanding Awards shall be subject to the agreement of merger or reorganization.
Subject to compliance with Section 409A, such agreement may provide for one or more of the following, without limitation:

 

		(i)	The continuation of the outstanding Awards by the Company, if the Company is a surviving corporation;

 

		(ii)	The assumption of the outstanding Awards by the surviving corporation or its parent or subsidiary;

 

		(iii)	The substitution by the surviving corporation or its parent or subsidiary of its own awards for
the outstanding Awards;

 

		(iv)	Immediate vesting, exercisability, or settlement of outstanding Awards followed by the cancellation
of such Awards upon or immediately prior to the effectiveness of such transaction;

 

		(v)	Cancellation of the Award, to the extent not vested or not exercised prior to the effective time
of the merger or reorganization, in exchange for such cash or equity consideration (including no consideration) as the Committee,
in its sole discretion, may consider appropriate; or

 

    	 	16	 

     

    

 

		(vi)	Settlement of the intrinsic value of the outstanding Awards (whether or not then vested or exercisable)
in cash or cash equivalents or equity (including cash or equity subject to deferred vesting and delivery consistent with the vesting
restrictions applicable to such Awards or the underlying Shares) followed by the cancellation of such Awards (and, for the avoidance
of doubt, if as of the date of the occurrence of the transaction the Committee determines in good faith that no amount would have
been attained upon the exercise of such Award or realization of the Participant’s rights, then such Award may be terminated
by the Company without payment), provided that any such amount may be delayed to the same extent that payment of consideration
to the holders of Stock in connection with the merger or reorganization is delayed as a result of escrows, earnouts, holdbacks
or other contingencies;

 

in each case without the Participant’s
consent. Any acceleration of payment of an amount that is subject to Section 409A will be delayed, if necessary, until the earliest
time that such payment would be permissible under Section 409A without triggering any additional taxes applicable under Section
409A.

 

The Company will have no obligation to
treat all Awards, all Awards held by a Participant, or all Awards of the same type, similarly.

 

(d)              
Change in Control. In addition to (and without limitation) the actions that may be taken under Section
12(c), in the event of a Change in Control in which the surviving corporation or acquiring corporation (or the surviving or acquiring
corporation’s parent company) does not continue, assume or settle (subject to vesting) outstanding Awards, or substitute
similar stock awards for outstanding Awards, then with respect to any such Awards that have not been continued, assumed, settled
or substituted, the Committee may determine, at the time of granting an Award or thereafter, that the vesting (and exercisability,
if applicable) of any such Awards (or portion thereof) will be accelerated in full (and with respect to any Awards subject to performance-based
vesting, that vesting shall be deemed satisfied at the target level or based on actual performance measured in accordance with
the applicable performance goals as of the date of the Change in Control, or the greater thereof) to a date prior to the effective
time of the Change in Control (contingent upon the closing or completion of the Change in Control) as the Committee will determine
(or, if the Committee does not determine such a date, to the date that is five days prior to the effective time of the Change in
Control), and any reacquisition or repurchase rights held by the Company with respect to such vested Awards will lapse (contingent
upon the closing or completion of the Change in Control). In addition, the Committee may determine, at the time of granting an
Award or thereafter, that such Award shall become exercisable or vested as to all or part of the Shares subject to such Award in
the event that a Change in Control occurs with respect to the Company. The Committee will have no obligation to treat all Awards,
all Awards held by a Participant, or all Awards of the same type, similarly.

 

    	 	17	 

     

    

 

(e)              
Reservation of Rights. Except as provided in this
Section 12, a Participant shall have no rights by reason of any subdivision or consolidation of Shares of stock of any class,
the payment of any dividend or any other increase or decrease in the number of Shares of stock of any class. Any issue by the
Company of Shares of stock of any class, or securities convertible into Shares of stock of any class, shall not affect, and no
adjustment by reason thereof shall be made with respect to, the number or Exercise Price of Shares subject to an Award. The grant
of an Award pursuant to the Plan shall not affect in any way the right or power of the Company to make adjustments, reclassifications,
reorganizations, or changes of its capital or business structure, to merge or consolidate or to dissolve, liquidate, sell, or
transfer all or any part of its business or assets. In the event of any change affecting the Shares or the Exercise Price of Shares
subject to an Award, including a merger or other reorganization, for reasons of administrative convenience, the Company in its
sole discretion may refuse to permit the exercise of any Award during a period of up to 30 days prior to the occurrence of such
event.

 

	Section
13.	DEFERRAL OF AWARDS.

 

(a)              
Committee Powers. Subject to compliance with Section
409A, the Committee (in its sole discretion) may permit or require a Participant to:

 

		(i)	Have cash that otherwise would be paid to such Participant as a result of the exercise of a SAR
or the settlement of Restricted Stock Units credited to a deferred compensation account established for such Participant by the
Committee as an entry on the Company’s books;

 

		(ii)	Have Shares that otherwise would be delivered to such Participant as a result of the exercise of
an Option or SAR converted into an equal number of Restricted Stock Units; or

 

		(iii)	Have Shares that otherwise would be delivered to such Participant as a result of the exercise of
an Option or SAR or the settlement of Restricted Stock Units converted into amounts credited to a deferred compensation account
established for such Participant by the Committee as an entry on the Company’s books.

 

Such amounts shall be
determined by reference to the Fair Market Value of such Shares as of the date when they otherwise would have been delivered to
such Participant.

 

(b)              
General Rules. A deferred compensation account
established under this Section 13 may be credited with interest or other forms of investment return, as determined by the Committee.
A Participant for whom such an account is established shall have no rights other than those of a general creditor of the Company.
Such an account shall represent an unfunded and unsecured obligation of the Company and shall be subject to the terms and conditions
of the applicable agreement between such Participant and the Company. If the deferral or conversion of Awards is permitted or
required, the Committee (in its sole discretion) may establish rules, procedures, and forms pertaining to such Awards, including
(without limitation) the settlement of deferred compensation accounts established under this Section 13.

 

    	 	18	 

     

    

 

	Section
14.	AWARDS UNDER OTHER PLANS.

 

The Company may grant
awards under other plans or programs. Such awards may be settled in the form of Shares issued under the Plan. Such Shares shall
be treated for all purposes under the Plan like Shares issued in settlement of Restricted Stock Units and shall, when issued, reduce
the number of Shares available under Section 5.

 

	Section
15.	LEGAL AND REGULATORY REQUIREMENTS.

 

Shares shall not be
issued under the Plan unless the issuance and delivery of such Shares complies with (or is exempt from) all applicable requirements
of law, including (without limitation) the United States Securities Act, state securities laws and regulations and the regulations
of any stock exchange on which the Company’s securities may then be listed, and the Company has obtained the approval or
favorable ruling from any governmental agency which the Company determines is necessary or advisable. The Company shall not be
liable to a Participant or other persons as to: (a) the non-issuance or sale of Shares as to which the Company has not obtained
from any regulatory body having jurisdiction the authority deemed by the Company’s counsel to be necessary to the lawful
issuance and sale of any Shares under the Plan; and (b) any tax consequences expected, but not realized, by any Participant or
other person due to the receipt, exercise or settlement of any Award granted under the Plan.

 

	Section
16.	TAXES.

 

(a)              
Withholding Taxes. To the extent required by applicable
federal, state, local, or foreign law, a Participant or his or her successor shall make arrangements satisfactory to the Company
for the satisfaction of any withholding tax obligations that arise in connection with the Plan. The Company shall not be required
to issue any Shares or make any cash payment under the Plan until such obligations are satisfied.

 

(b)              
Share Withholding. The Committee may permit a Participant
to satisfy all or part of his or her withholding or income tax obligations by having the Company withhold all or a portion of
any Shares that otherwise would be issued to him or her or by surrendering all or a portion of any Shares that he or she previously
acquired. Such Shares shall be valued at their Fair Market Value on the date when taxes otherwise would be withheld in cash. In
no event may a Participant have Shares withheld that would otherwise be issued to him or her in excess of the number necessary
to satisfy the maximum legally required tax withholding.

 

(c)              
Section 409A. Each Award that provides for “nonqualified
deferred compensation” within the meaning of Section 409A shall be subject to such additional rules and requirements as
specified by the Committee from time to time in order to comply with Section 409A. If any amount under such an Award is payable
upon a “separation from service” (within the meaning of Section 409A) to a Participant who is then considered a “specified
employee” (within the meaning of Section 409A), then no such payment shall be made prior to the date that is the earlier
of (i) six months and one day after the Participant’s separation from service, or (ii) the Participant’s death, but
only to the extent such delay is necessary to prevent such payment from being subject to interest, penalties, and/or additional
tax imposed pursuant to Section 409A. In addition, the settlement of any such Award may not be accelerated except to the extent
permitted by Section 409A.

 

    	 	19	 

     

    

 

	Section
17.	TRANSFERABILITY.

 

Unless the agreement
evidencing an Award (or an amendment thereto authorized by the Committee) expressly provides otherwise, no Award granted under
the Plan, nor any interest in such Award, may be sold, assigned, conveyed, gifted, pledged, hypothecated, or otherwise transferred
in any manner (prior to the vesting and lapse of any and all restrictions applicable to Shares issued under such Award), other
than by will or the laws of descent and distribution; provided, however, that an ISO may be transferred or assigned only to the
extent consistent with Section 422 of the Code. Any purported assignment, transfer, or encumbrance in violation of this Section
17 shall be void and unenforceable against the Company.

 

	Section
18.	TRANSFER RESTRICTIONS AND REPURCHASE RIGHTS.

 

Shares acquired under the Plan shall be
subject to such transfer restrictions, forfeiture conditions, rights of repurchase, rights of first refusal and other restrictions
as the Committee may determine. Such restrictions may be set forth in the applicable Award Agreement, exercise notice or Stock
purchase agreement and, unless otherwise provided in any such agreement, shall apply to any dividends paid with respect to such
Shares. Such restrictions shall apply in addition to any restrictions otherwise applicable to holders of shares of Stock generally.

 

	Section
19.	PERFORMANCE BASED AWARDS.

 

The number of Shares
or other benefits granted, issued, retained, and/or vested under an Award may be made subject to the attainment of performance
goals. The Committee may utilize any performance criteria selected by it in its sole discretion to establish performance goals.

 

	Section
20.	FORFEITURE, CANCELLATION OR RECOUPMENT OF AWARDS.

 

The
Committee shall have the authority, to the extent permitted by applicable law, to specify in an Award Agreement, exercise notice
or share purchase agreement that the Participant’s rights, payments and benefits with respect to an Award shall be subject
to reduction, cancellation, forfeiture, or recoupment upon the occurrence of specified events, in addition to any otherwise applicable
vesting or performance conditions of an Award. Such events may include, but shall not be limited to, in each case to the extent
permitted by applicable law, termination of Service for Cause or any act by a Participant, whether before or after termination
of Service, that would constitute Cause for termination of Service, a Participant’s noncompliance with applicable restrictive
covenants and conditions, and any other events set forth in a clawback, recoupment or similar policy adopted by the Company.

 

    	 	20	 

     

    

 

In the event that the
Company is required to prepare restated financial results owing to an executive officer’s intentional misconduct or grossly
negligent conduct, the Committee shall have the authority, to the extent permitted by applicable law, to require reimbursement
or forfeiture to the Company of the amount of bonus or incentive compensation (whether cash-based or equity-based) such executive
officer received during the three fiscal years preceding the year the restatement is determined to be required, to the extent that
such bonus or incentive compensation exceeds what the officer would have received based on an applicable restated performance measure
or target. After the Listing Date, the Company will recoup incentive-based compensation from executive officers to the extent required
under the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules, regulations and listing standards that may be
issued under that act. Any right of recoupment under this provision will be in addition to, and not in lieu of, any other rights
of recoupment that may be available to the Company. No recovery of compensation under any clawback policy or this Section 20 will
be an event giving rise to a right to resign for “good reason” or “constructive termination” (or similar
term) under any agreement with the Company or any of its Subsidiaries or Affiliates.

 

	Section
21.	NO EMPLOYMENT RIGHTS.

 

No provision of the
Plan, nor any Award granted under the Plan, shall be construed to give any person any right to become, to be treated as, or to
remain an Employee or Consultant. The Company and its Subsidiaries reserve the right to terminate any person’s Service at
any time and for any reason, with or without notice.

 

	Section
22.	DURATION AND AMENDMENTS.

 

(a)              
Term of the Plan. The Plan, as set forth herein,
shall come into existence on the date of its adoption by the Committee, subject to approval within twelve (12) months by the shareholders
of the Company holding a majority of the voting power of shares of the Company entitled to vote thereon. Unless and until the
Plan has been approved by the shareholders of the Company, no Option or Award may be exercised, and no shares of Stock may be
issued under the Plan. In the event the shareholders of the Company shall not approve the Plan within such twelve (12) month period,
the Plan and any previously granted Awards shall terminate. No Award may be granted hereunder prior to the Effective Date. The
Board or the Committee may suspend or terminate the Plan at any time. Unless previously terminated, the Plan will terminate ten
(10) years after the earlier of (i) the date the Plan is adopted by the Committee, or (ii) the date the Plan is approved by the
stockholders.

 

(b)              
Right to Amend the Plan. The Board or the Committee
may amend the Plan at any time and from time to time. Rights and obligations under any Award granted before amendment of the Plan
shall not be materially impaired by such amendment, except with consent of the Participant. An amendment of the Plan shall be
subject to the approval of the Company’s stockholders only to the extent required by applicable laws, regulations or rules.

 

(c)              
Effect of Termination. No Awards shall be granted
under the Plan after the termination thereof. The termination of the Plan shall not affect Awards previously granted under the
Plan.

 

	Section
23.	AWARDS TO NON-U.S. PARTICIPANTS.

 

Awards may be granted
to Participants who are non-United States nationals or employed or providing services outside the United States, or both, on such
terms and conditions different from those applicable to Awards to Participants who are employed or providing services in the United
States as may, in the judgment of the Committee, be necessary or desirable to recognize differences in local law, tax policy, or
custom. The Committee also may impose conditions on the exercise, vesting, or settlement of Awards in order to minimize the Company’s
obligation with respect to tax equalization for Participants on assignments outside their home country.

 

    	 	21	 

     

    

 

	Section
24.	GOVERNING LAW.

 

The Plan and each Award
Agreement shall be governed by the laws of the state of California, without application of the conflicts of law principles thereof.

 

	Section
25.	SUCCESSORS AND ASSIGNS.

 

The terms of the Plan
shall be binding upon and inure to the benefit of the Company and any successor entity, including any successor entity contemplated
by Section 12(c).

 

	Section
26.	EXECUTION.

 

To record the adoption
of the Plan by the Committee, the Company has caused its authorized officer to execute the same.

 

    	 	22	 

     

    

 

	 	ATIEVA, INC.
	 	 
	 	By:	 /s/ Peter Rawlinson
	 	Name: 	Peter Rawlinson
	 	Title: 	Chief Executive Officer
	 	 	Chief Technology Officer

 

    	 	23	 

     

    

 

2021 STOCK INCENTIVE PLAN

CALIFORNIA SUPPLEMENT

 

(California
Participants)

 

Prior to the date,
if ever, that the Company is subject to the reporting requirements of the Exchange Act, the terms set forth herein shall apply
to Awards issued to a Participant whose Award is issued in reliance on Section 25102(o) of the California Corporations Code (a
 “California Participant”). All capitalized terms used herein but not otherwise defined shall have the respective meanings
set forth in the Plan.

 

1.                 
The following rules shall apply to any Option in the event of termination of the Participant’s Service:

 

(a)              
If such termination was for reasons other than death, “Permanent Disability” (as defined below), or Cause, the
Participant shall have at least 30 days after the date of such termination to exercise his or her Option to the extent the Participant
is entitled to exercise on his or her termination date, provided that in no event shall the Option be exercisable after the expiration
of the term as set forth in the Award Agreement.

 

(b)              
If such termination was due to death or Permanent Disability, the Participant shall have at least 6 months after the date
of such termination to exercise his or her Option to the extent the Participant is entitled to exercise on his or her termination
date, provided that in no event shall the Option be exercisable after the expiration of the term as set forth in the Award Agreement.

 

“Permanent Disability”
for purposes of this California Supplement shall mean the inability of the Participant, in the opinion of a qualified physician
acceptable to the Company, to perform the major duties of the Participant’s position with the Company or any Parent or Subsidiary
because of the sickness or injury of the Participant.

 

2.                  Notwithstanding
anything to the contrary in Section 12(a) of the Plan, the Committee shall in any event make such adjustments as may be
required by Section 25102(o) of the California Corporations Code.

 

3.                 
Notwithstanding anything stated herein to the contrary, no Options granted to California Participants shall have a term
in excess of 10 years measured from the Option grant date.

 

4.                 
The Company shall furnish summary financial information (audited or unaudited) of the Company’s financial condition
and results of operations, consistent with the requirements of applicable laws, at least annually to each California Participant
during the period such Participant has one or more Awards outstanding, and in the case of an individual who acquired Shares pursuant
to the Plan, during the period such Participant owns such Shares; provided, however, the Company shall not be required to provide
such information if (i) the issuance is limited to key persons whose duties in connection with the Company assure their access
to equivalent information or (ii) the Plan or any agreement complies with all conditions of Rule 701 of the Securities Act of 1933,
as amended; provided that for purposes of determining such compliance, any registered domestic partner shall be considered a “family
member” as that term is defined in Rule 701.

 

    	 	24Exhibit 10.13

 

THE SECURITIES REPRESENTED HEREBY HAVE
NOT BEEN REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933 OR THE SECURITIES LAWS OF ANY STATE OR FOREIGN JURISDICTION,
AND MAY BE OFFERED AND SOLD ONLY IF REGISTERED AND QUALIFIED PURSUANT TO THE RELEVANT PROVISIONS OF U.S. FEDERAL AND STATE
AND APPLICABLE FOREIGN SECURITIES LAWS OR IF THE COMPANY IS PROVIDED AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION
AND QUALIFICATION UNDER U.S. FEDERAL AND STATE AND APPLICABLE FOREIGN SECURITIES LAWS IS NOT REQUIRED.

 

Atieva, Inc.

 

2021 STOCK INCENTIVE PLAN

NOTICE OF STOCK OPTION GRANT

 

Atieva, Inc. (the
 “Company”) hereby grants you the following Option to purchase shares of its Stock (“Shares”). The terms
and conditions of this Option are set forth in the Stock Option Agreement and the Atieva, Inc. 2021 Stock Incentive Plan (the
 “Plan”), both of which are attached to and made a part of this document.

 

	Date of Grant:	[Date of Grant]
	 	 
	Name of Optionee:	[Name of Optionee]
	 	 
	Number of Option Shares:	[Number of Shares]

 

	Exercise Price per Share:	$[Exercise Price]  (The Exercise Price per Share of an Option shall not be less than one hundred percent (100%) of the Fair Market Value of a Share on the date of grant.  If the Optionee is deemed to be a Ten-Percent Stockholder, the Exercise Price per Share of an ISO must be at least one hundred ten percent (110%) of Fair Market Value.)

 

	Vesting Start Date:	[Vesting Start Date]
	 	 
	Type of Option:	[Type of Grant: NSO/ISO]
	 	 
	Vesting Schedule:	
        Subject to the terms and conditions set
        forth in Section 2 of the Stock Option Agreement, [______________________, subject to the Optionee’s continuous Service
        through each applicable vesting date.] Fractional vested Shares will be rounded down to the nearest whole number of Shares at all
        times.

         

 

    	 	Atieva, Inc.
Notice of Stock Option Grant
	 
	 	 -1-	 

     

    

 

By signing this
document, which may be accomplished by e-signature or other electronic indication of acceptance, you acknowledge receipt of a copy
of the Plan, and agree that (a) you have carefully read, fully understand and agree to all of the terms and conditions described
in the attached Stock Option Agreement, the Plan document and “Notice of Exercise and Common Share Purchase Agreement”
(the “Exercise Notice”); (b) you hereby make the purchaser’s investment representations contained in the
Exercise Notice with respect to the grant of this Option; (c) you understand and agree that this Notice of Stock Option Grant,
the Stock Option Agreement, including its attachments, constitutes the entire understanding between you and the Company regarding
this Option, and that any prior agreements, commitments or negotiations concerning this Option are replaced and superseded; and
(d) you have been given an opportunity to consult your own legal and tax counsel with respect to all matters relating to this
Option prior to signing this Notice of Stock Option Grant and that you have either consulted such counsel or voluntarily declined
to consult such counsel.

 

You acknowledge
and agree that this Notice of Stock Option Grant and the Agreement may not be modified, amended or revised except as provided in
the Plan. You further acknowledge that as of the Date of Grant, this Notice of Stock Option Grant, the Stock Option Agreement,
and the Plan set forth the entire understanding between you and the Company regarding this option award and supersede all prior
oral and written agreements, promises and/or representations on that subject with the exception of (i) options previously
granted and delivered to you, (ii) any compensation recovery policy that is adopted by the Company or is otherwise required
by applicable law and (iii) any written employment or severance arrangement that would provide for vesting acceleration of
this option upon the terms and conditions set forth therein.

 

	[Name of Optionee]	 	Atieva, Inc.
	 	 	 

 

	 	 	By:	 
	 	 	 
	 	 	Its:	 

 

    	 	Atieva, Inc.
Notice of Stock Option Grant
	 
	 	 -2-	 

     

    

 

Atieva, Inc.

 

2021 STOCK INCENTIVE PLAN

 

STOCK OPTION AGREEMENT

 

SECTION 1.         KIND
OF OPTION.

 

This Option is intended
to be either an incentive stock option intended to meet the requirements of section 422 of the Internal Revenue Code (an “ISO”)
or a non-statutory option (an “NSO”), which is not intended to meet the requirements of an ISO, as indicated in the
Notice of Stock Option Grant. Even if this Option is designated as an ISO, it shall be deemed to be an NSO to the extent required
by the $100,000 annual limitation under Section 422(d) of the Code.

 

SECTION 2.        VESTING.

 

Subject to the terms
and conditions of the Plan and this Stock Option Agreement (the “Agreement”), your Option will be exercisable with
respect to the Shares that have become vested in accordance with the schedule set forth in the Notice of Stock Option Grant. If
your Option is granted in consideration of your service to the Company, or any of its Subsidiaries or Affiliates, upon the termination
of your Service for any reason, except as provided in the Plan, vesting of your Shares subject to such Option immediately stops
and such Option expires as to the number of Shares that are not vested as of the date your Service terminates.

 

SECTION 3.        TERM.

 

Your Option will expire
in any event at the close of business at Company headquarters on the date that is ten (10) years after the Date of Grant;
provided, however, that if your Option is an ISO it will expire five (5) years after the Date of Grant if you are or are deemed
to be a Ten-Percent Owner (the “Expiration Date”). Also, your Option will expire earlier if your Service terminates,
as described below.

 

SECTION 4.        REGULAR
TERMINATION.

 

		(a)	If your Service terminates for any reason except death, Disability or Cause or when grounds for
your termination for Cause exists, your Option will expire at the close of business at Company headquarters on the date ninety
(90) days after your termination of Service. During that ninety (90) day period, you may exercise the vested portion of your Option.
Notwithstanding the foregoing, the Option may not be exercised after the Expiration Date determined under Section 3 above.

 

		(b)	If your Service is terminated for Cause (as defined in the Plan) or you voluntarily terminate when
grounds for your termination for Cause exists, your Option will expire immediately upon your termination of Service.

 

		(c)	If your Option is an ISO and you exercise it more than three (3) months after termination
of your Service as an employee for any reason other than death or a “disability” within the meaning of Section 22(e)(3) of
the Code (meaning you are unable to engage in any substantial gainful activity by reason of any medically determinable physical
or mental impairment expected to result in death or to last for a continuous period of at least twelve (12) months), your Option
will cease to be eligible for ISO tax treatment.

 

		(d)	Your Option will cease to be eligible for ISO tax treatment if you exercise it more than three
months after the ninetieth (90th) day of a bona fide leave of absence approved by the Company, unless you return to
employment immediately upon termination of such leave or your right to reemployment after your leave was guaranteed by statute
or contract.

 

    	 	Atieva, Inc.

Stock Option Agreement
 - 1 - 
	 

     

    

 

SECTION 5.        DEATH.

 

If you die while in
Service with the Company, the vested portion of your Option will expire at the close of business at Company headquarters on the
date twelve (12) months after the date of your death. During that twelve (12) month period, your estate, legatees or heirs may
exercise that portion of your Option that was vested on the date of your death. Notwithstanding the foregoing, the Option may not
be exercised after the Expiration Date determined under Section 3 above.

 

SECTION 6.        DISABILITY.

 

		(a)	If your Service terminates because of a Disability (as defined in the Plan), the vested portion
of your Option will expire at the close of business at Company headquarters on the date twelve (12) months after your termination
date. During that twelve (12) month period, you may exercise that portion of your Option that was vested on the date of your Disability.
Notwithstanding the foregoing, the Option may not be exercised after the Expiration Date determined under Section 3 above.

 

		(b)	If your Option is an ISO and your Disability is not expected to result in death or to last for
a continuous period of at least twelve (12) months, your Option will be eligible for ISO tax treatment only if it is exercised
within three (3) months following the termination of your Service as an employee.

 

SECTION 7.        EXERCISING
YOUR OPTION.

 

To exercise your Option,
you must execute (or electronically agree to and sign) the Notice of Exercise and Common Share Purchase Agreement (the “Exercise
Notice”), attached as Exhibit A. You must submit this form, together with full payment, to the Company or through
a web portal provided by the Company. Your exercise will be effective when it is received by the Company. If someone else wants
to exercise your Option after your death, that person must prove to the Company’s satisfaction that he or she is entitled
to do so.

 

SECTION 8.        PAYMENT
FORMS.

 

When you exercise your
Option, you must include payment of the Exercise Price for the Shares you are purchasing in cash or cash equivalents. Alternatively,
you may, with the consent of the Committee, pay all or part of the Exercise Price by surrendering, or attesting to ownership of,
Shares already owned by you, unless such action would cause the Company to recognize any (or additional) compensation expense with
respect to the Option for financial reporting purposes. Such Shares shall be surrendered to the Company in good form for transfer
and shall be valued at their Fair Market Value on the date of Option exercise. To the extent that a public market for the Shares
exists and to the extent permitted by applicable law, in each case as determined by the Company, you also may exercise your Option
by delivery (on a form prescribed by the Company) of an irrevocable direction to a securities broker to sell Shares and to deliver
all or part of the sale proceeds to the Company in payment of the aggregate Exercise Price and, if requested, applicable withholding
taxes. The Company will provide the forms necessary to make such a cashless exercise.

 

    	 	Atieva, Inc.

Stock Option Agreement
 - 2 - 
	 

     

    

 

SECTION 9.        TAX
WITHHOLDING AND REPORTING.

 

		(a)	You will not be allowed to exercise this Option unless you pay, or make acceptable arrangements
to pay, any taxes required to be withheld as a result of the Option exercise or the sale of Shares acquired upon exercise of this
Option. You hereby authorize withholding from payroll or any other payment due you from the Company or your employer to satisfy
any such withholding tax obligation.

 

		(b)	If you sell or otherwise dispose of any of the Shares acquired pursuant to an ISO on or before
the later of (i) two years after the grant date, or (ii) one year after the exercise date, you shall immediately notify
the Company in writing of such disposition.

 

		(c)	By accepting this Agreement, you explicitly and unambiguously consent and agree (i) to assume
any liability for fringe benefit tax that may be payable by the Company and/or your employer in connection with the Option granted
under this Agreement to the extent permitted under applicable law; (ii) that the Company and/or your employer may collect
the fringe benefit tax from you by any reasonable method established by the Company and/or your employer; and (iii) you will
execute any other consents or elections required to accomplish the above, promptly upon request of the Company and/or your employer.

 

SECTION 10.      TRANSFER
RESTRICTION, RIGHT OF FIRST REFUSAL, COMPANY PURCHASE RIGHTS AND DRAG ALONG RIGHTS.

 

In the event that you
propose to sell, pledge or otherwise transfer to a third party any Shares acquired under this Agreement, or any interest in such
Shares, such sale, pledge or other transfer as permitted, you shall be subject to the “Transfer Restriction” and the
Company shall have a “Right of First Refusal” with respect to such Shares or interest therein, each in accordance with
the provisions of the Exercise Notice. In accordance with the Exercise Notice, the Shares you receive on exercise will also be
subject to the terms of the “Company Purchase Rights” in the event of your termination of Service and Drag Along Rights
upon a sale of the Company.

 

SECTION 11.      RESALE
RESTRICTIONS/MARKET STAND-OFF.

 

In connection with
any underwritten public offering by the Company of its equity securities pursuant to an effective registration statement filed
under the Securities Act, including the Company’s initial public offering, you may be prohibited from engaging in any transaction
with respect to any of the Company’s common shares without the prior written consent of the Company or its underwriters in
accordance with the provisions of the Exercise Notice.

 

SECTION 12.      TRANSFER
OF OPTION.

 

The Option is subject
to the transfer restrictions set forth in Section 17 of the Plan (as amended from time to time). In general, only you can
exercise this Option prior to your death. You may not sell, transfer, assign, pledge or otherwise dispose of this Option, other
than as designated by you, by will or by the laws of descent and distribution, except as provided below. For instance, you may
not use this Option as security for a loan. If you attempt to do any of these things, this Option will immediately become invalid.
You may in any event dispose of this Option in your will. Regardless of any marital property settlement agreement, the Company
is not obligated to honor a notice of exercise from your former spouse, nor is the Company obligated to recognize your former spouse’s
interest in this Option in any other way.

 

    	 	Atieva, Inc.

Stock Option Agreement
 - 3 - 
	 

     

    

 

However, if this Option
is designated as a NSO in the Notice of Stock Option Grant, then the Committee may, in its sole discretion, allow you to transfer
this Option as a gift to one or more family members. For purposes of this Agreement, “family member” means a child,
stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law,
son-in-law, daughter-in-law, brother-in-law, or sister-in-law (including adoptive relationships), any individual sharing your household
(other than a tenant or employee), a trust in which one or more of these individuals have more than fifty percent (50%) of the
beneficial interest, a foundation in which you or one or more of these persons control the management of assets, and any entity
in which you or one or more of these persons own more than fifty percent (50%) of the voting interest.

 

In addition, if this
Option is designated as a NSO in the Notice of Stock Option Grant, then the Committee may, in its sole discretion, allow you to
transfer this Option to your spouse or former spouse pursuant to a domestic relations order in settlement of marital property rights.

 

The Committee will
allow you to transfer this Option only if both you and the transferee(s) execute the forms prescribed by the Committee, which
include the consent of the transferee(s) to be bound by this Agreement.

 

SECTION 13.      RETENTION
RIGHTS.

 

This Agreement does
not give you the right to be retained by the Company in any capacity. The Company reserves the right to terminate your Service
at any time and for any reason without thereby incurring any liability to you.

 

SECTION 14.      STOCKHOLDER
RIGHTS.

 

Neither you nor your
estate or heirs have any rights as a stockholder of the Company until a certificate for the Shares acquired upon exercise of this
Option has been issued. No adjustments are made for dividends or other rights if the applicable record date occurs before your
stock certificate is issued, except as described in the Plan.

 

SECTION 15.      ADJUSTMENTS.

 

In the event of a stock
split, a stock dividend or a similar change in the Company’s Stock, the number and class of Shares covered by this Option
and the Exercise Price per share may be adjusted pursuant to the Plan. Your Option shall be treated in the manner determined by
the Committee in the event the Company is subject to an asset or stock sale, merger, liquidation, reorganization or other corporate
transaction as set forth in the Plan.

 

SECTION 16.      LEGENDS.

 

All certificates representing
the Shares issued upon exercise of this Option shall, where applicable, have endorsed thereon the following legends:

 

THE SECURITIES REPRESENTED BY
THIS CERTIFICATE HAVE NOT BEEN REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS
OF ANY STATE OR FOREIGN JURISDICTION, AND MAY BE OFFERED AND SOLD ONLY IF REGISTERED AND QUALIFIED PURSUANT TO THE RELEVANT
PROVISIONS OF U.S. FEDERAL, STATE AND APPLICABLE FOREIGN SECURITIES LAWS OR IF THE COMPANY IS PROVIDED AN OPINION OF COUNSEL SATISFACTORY
TO THE COMPANY THAT REGISTRATION AND QUALIFICATION UNDER U.S. FEDERAL, STATE AND APPLICABLE FOREIGN SECURITIES LAWS IS NOT REQUIRED.

 

    	 	Atieva, Inc.

Stock Option Agreement
 - 4 - 
	 

     

    

  

THE SECURITIES REPRESENTED BY
THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE TERMS
OF THE COMPANY’S STOCK PLAN AND A WRITTEN AGREEMENT BETWEEN THE COMPANY AND THE INITIAL HOLDER HEREOF. SUCH PLAN AND AGREEMENT
PROVIDE FOR CERTAIN TRANSFER RESTRICTIONS, INCLUDING LIMITATION ON TRANSFERS, RIGHTS OF FIRST REFUSAL UPON AN ATTEMPTED TRANSFER
OF THE SECURITIES AND A REPURCHASE RIGHT ON TERMINATION OF SERVICE. THE COMPANY WILL NOT REGISTER OR OTHERWISE RECOGNIZE OR GIVE
EFFECT TO ANY PURPORTED TRANSFER OF SECURITIES THAT DOES NOT COMPLY WITH SUCH TRANSFER RESTRICTIONS. THE SECRETARY OF THE COMPANY
WILL UPON WRITTEN REQUEST FURNISH A COPY OF SUCH PLAN AND AGREEMENT TO THE HOLDER HEREOF WITHOUT CHARGE.

 

If the Option is
an ISO, then the following legend should be included:

 

THE SHARES REPRESENTED BY THIS
CERTIFICATE WERE ISSUED UPON EXERCISE OF AN INCENTIVE STOCK OPTION, AND THE COMPANY MUST BE NOTIFIED IF THE SHARES SHALL BE TRANSFERRED
BEFORE THE LATER OF THE TWO (2) YEAR ANNIVERSARY OF THE DATE OF GRANT OF THE OPTION OR THE ONE (1) YEAR ANNIVERSARY OF
THE DATE ON WHICH THE OPTION WAS EXERCISED. THE REGISTERED HOLDER MAY RECOGNIZE ORDINARY INCOME IF THE SHARES ARE TRANSFERRED
BEFORE SUCH DATE.

 

SECTION 17.      TAX
DISCLAIMER.

 

You agree that you
are responsible for consulting your own tax advisor as to the tax consequences associated with your Option. The tax rules governing
options are complex, change frequently and depend on the individual taxpayer’s situation. For your information, a memorandum
that briefly summarizes current U.S. federal income tax law relating to certain aspects of stock options is attached hereto as
Exhibit B. Please note that this memorandum does not purport to be complete. Although the Company will make available to you
general tax information about stock options, you agree that the Company shall not be held liable or responsible for making such
information available to you and any tax or financial consequences that you may incur in connection with your Option.

 

In addition, as noted
in Exhibit B, options granted at a discount from fair market value may be considered “deferred compensation” subject
to adverse tax consequences under Section 409A of the Internal Revenue Code. The Committee has made a good faith determination
that the exercise price per share of the Option is not less than the fair market value of the Shares underlying your Option on
the Date of Grant. It is possible, however, that the Internal Revenue Service could later challenge that determination and assert
that the fair market value of the Shares underlying your Option was greater on the Date of Grant than the exercise price determined
by the Committee, which could result in immediate income tax upon the vesting of your Option (whether or not exercised) and a 20%
tax penalty, as well as the loss of incentive stock option status (if applicable). The Company gives no assurance that such adverse
tax consequences will not occur and specifically assumes no responsibility therefor. By accepting this Option, you acknowledge
that any tax liability or other adverse tax consequences to you resulting from the grant of the Option will be the responsibility
of, and will be borne entirely by, you.  YOU ARE THEREFORE ENCOURAGED TO CONSULT YOUR OWN TAX ADVISOR BEFORE ACCEPTING THE
GRANT OF THIS OPTION.

 

    	 	Atieva, Inc.

Stock Option Agreement
 - 5 - 
	 

     

    

 

SECTION 18.      THE
PLAN AND OTHER AGREEMENTS.

 

The text of the Plan
is incorporated in this Agreement by reference. Certain capitalized terms used in this Agreement are defined in the Plan. The Notice
of Stock Option Grant, this Agreement, including its attachments, and the Plan constitute the entire understanding between you
and the Company regarding this Option. Any prior agreements, commitments or negotiations concerning this Option are superseded.

 

SECTION 19.      MISCELLANEOUS
PROVISIONS.

 

		(a)	You understand and acknowledge that (i) the Plan is entirely discretionary, (ii) the
Company and your employer have reserved the right to amend, suspend or terminate the Plan at any time, (iii) the grant of
an option does not in any way create any contractual or other right to receive additional grants of options (or benefits in lieu
of options) at any time or in any amount and (iv) all determinations with respect to any additional grants, including (without
limitation) the times when options will be granted, the number of Shares offered, the Exercise Price and the vesting schedule,
will be at the sole discretion of the Company.

 

		(b)	The value of this Option shall be an extraordinary item of compensation outside the scope of your
employment contract, if any, and shall not be considered a part of your normal or expected compensation for purposes of calculating
severance, resignation, redundancy or end-of-service payments, bonuses, long-service awards, pension or retirement benefits or
similar payments.

 

		(c)	You understand and acknowledge that participation in the Plan ceases upon termination of your Service
for any reason, except as may explicitly be provided otherwise in the Plan or this Agreement.

 

		(d)	You hereby authorize and direct your employer to disclose to the Company or any Subsidiary or Affiliate
any information regarding your employment, the nature and amount of the your compensation and the fact and conditions of your participation
in the Plan, as your employer deems necessary or appropriate to facilitate the administration of the Plan.

 

		(e)	You consent to the collection, use and transfer of personal data as described in this Subsection.
You understand and acknowledge that the Company, your employer and the Company’s other Subsidiaries and Affiliates hold certain
personal information regarding you for the purpose of managing and administering the Plan, including (without limitation) your
name, home address, telephone number, date of birth, social insurance number, salary, nationality, job title, any Shares or directorships
held in the Company and details of all options or any other entitlements to Shares awarded, canceled, exercised, vested, unvested
or outstanding in the your favor (the “Data”). You further understand and acknowledge that the Company and/or its Subsidiaries
and Affiliates will transfer Data among themselves as necessary for the purpose of implementation, administration and management
of your participation in the Plan and that the Company and/or any Subsidiary or Affiliate may each further transfer Data to any
third party assisting the Company in the implementation, administration and management of the Plan. You understand and acknowledge
that the recipients of Data may be located in the United States or elsewhere. You authorize such recipients to receive, possess,
use, retain and transfer Data, in electronic or other form, for the purpose of administering your participation in the Plan, including
a transfer to any broker or other third party with whom you elect to deposit Shares acquired under the Plan of such Data as may
be required for the administration of the Plan and/or the subsequent holding of Shares on your behalf. You may, at any time, view
the Data, require any necessary modifications of Data or withdraw the consents set forth in this Subsection by contacting the Human
Resources Department of the Company in writing.

 

    	 	Atieva, Inc.

Stock Option Agreement
 - 6 - 
	 

     

    

 

SECTION 20.     APPLICABLE
LAW; VENUE.

 

This Agreement will
be interpreted and enforced under the laws of the State of California (without regard to their choice of law provisions). The parties
agree that any action brought by either party to interpret or enforce any provision of this Agreement shall be brought in, and
each party agrees to, and does hereby, submit to the jurisdiction and venue of, the appropriate state court or federal district
court for the area in which the Company’s headquarters is located.

 

    	 	Atieva, Inc.

Stock Option Agreement
 - 7 - 
	 

     

    

 

EXHIBIT A

 

ATIEVA, INC. 2021 STOCK INCENTIVE
PLAN

NOTICE OF EXERCISE AND COMMON SHARE PURCHASE AGREEMENT

 

THIS AGREEMENT is dated
as of [___________, ____], between Atieva, Inc. (the “Company”), and [Name of Optionee] (“Purchaser”).

 

W
I T N E S S E T H:

 

WHEREAS, the Company
granted Purchaser an option on [___________], (the “Date of Grant”) pursuant to a stock option agreement (the “Option
Agreement”) under which Purchaser has the right to purchase up to [Number of Shares] shares of the Company’s Stock
(the “Option Shares”); and

 

WHEREAS, the Option
is exercisable with respect to certain of the Option Shares as of the date hereof; and

 

WHEREAS, pursuant to
the Option Agreement, Purchaser desires to purchase shares of the Company as herein described, on the terms and conditions set
forth in this Agreement, the Option Agreement and the Atieva, Inc. 2021 Stock Incentive Plan (the “Plan”). Certain
capitalized terms used in this Agreement are defined in the Plan.

 

NOW, THEREFORE, it
is agreed between the parties as follows:

 

SECTION 1.       PURCHASE
OF SHARES.

 

(a)             Pursuant
to the terms of the Option Agreement, Purchaser hereby agrees to purchase from the Company and the Company agrees to sell and issue
to Purchaser [_________] shares of the Company’s Stock for the Exercise Price per share specified in the Notice of Stock
Option Grant payable by personal check, cashier’s check, money order or otherwise as permitted by the Option Agreement. Payment
shall be delivered at the Closing, as such term is defined below.

 

(b)            The
closing (the “Closing”) under this Agreement shall occur at the offices of the Company as of the date hereof, or such
other time and place as may be designated by the Company (the “Closing Date”).

 

(c)            Notwithstanding
the foregoing, the Closing under this Agreement shall be conditioned on Purchaser’s execution of such agreements as may be
required of the shareholders of the Company generally, including, but not limited to, any voting agreement, investor rights agreement,
right of first refusal and co-sale agreement, or other similar stockholder agreement (“Shareholder Agreements”). In
the event that Purchaser is required to execute the Shareholder Agreements, then the Closing shall not occur unless and until Purchaser
has executed the Shareholder Agreements. In the event of any conflict between the applicable Shareholder Agreements and the Notice
of Stock Option Grant, the Option Agreement, the Plan or this Agreement, including with respect to any rights of first refusal,
drag-along rights or market stand-off provisions, the terms of the applicable Shareholder Agreements shall control.

 

    	 	Atieva, Inc.

Exhibit A to Stock Option Agreement

Notice of Exercise and Common Share Purchase Agreement
	 
	 	A-1 	 

     

    

 

SECTION 2.       ADJUSTMENT
OF SHARES.

 

Subject to the provisions
of the organizational documents of the Company, if (a) there is any stock dividend or liquidating dividend of cash and/or
property, stock split or other change in the character or amount of any of the outstanding securities of the Company, or (b) there
is any consolidation, merger or sale of all or substantially all of the assets of the Company, then, in such event, any and all
new, substituted or additional securities or other cash or property to which Purchaser is entitled by reason of Purchaser’s
ownership of the shares shall be immediately subject to the terms of this Agreement, including but not limited to the Transfer
Restriction, Right of First Refusal and Purchase Rights as provided below, with the same force and effect as the shares subject
to such provisions. Appropriate adjustments shall be made to the number and/or class of shares subject to terms of this Agreement
to reflect the exchange or distribution of such securities. In the event of a merger or consolidation of the Company with or into
another entity or any other corporate reorganization, the Company’s rights may be exercised by the Company’s successor.

 

SECTION 3.       TRANSFER
RESTRICTION.

 

Purchaser shall not
sell, assign, pledge or otherwise transfer (each, a “Transfer”) any such shares of Stock received under this
Agreement or any right or interest therein (such shares or right or interest therein, collectively, the “Securities”),
whether voluntarily, involuntarily, by operation of law, by gift or otherwise, without the prior written consent of the Company,
evidenced by a writing approved by the Board (the “Transfer Restriction”). The Transfer Restriction shall not
apply to any of the following exempt Transfers:

 

(a)          Purchaser’s
Transfer of any or all Securities held either during Purchaser’s lifetime or on death by will or intestacy (1) to such
Purchaser’s Immediate Family, (2) to any custodian or trustee for the account or the benefit of Purchaser or such person’s
Immediate Family, or (3) to any limited partnership or limited liability company with respect to which the ownership interests
are wholly owned by Purchaser, members of such person’s Immediate Family or any trust for the account or benefit of Purchaser
or Purchaser’s Immediate Family;

 

(b)            Purchaser’s
Transfer of any or all of Purchaser’s Securities to the Company (or the Company’s assignee); or

 

(c)          Purchaser’s
Transfer of any or all of Purchaser’s Securities in connection with a transaction subject to Section 12 of the Plan
or compliance with Purchaser’s obligations under this Agreement;

 

provided
that with respect to Transfers pursuant to subsection (a) above, the Transferee shall receive and hold such Securities subject
to the provisions of this Agreement (including this Section 3) and there shall be no further Transfer of such Securities except
in accordance with this Section 3. The provisions of this Section 3 may be waived by the Board or Committee with respect
to any Transfer. The provisions of this Section 3 shall terminate immediately prior to (i) the date of the closing of
a firm commitment underwritten public offering of the Company’s Stock pursuant to a registration statement filed with, and
declared effective by, the Securities and Exchange Commission under the Securities Act. or (ii) any transfer or conversion
of shares of the Company’s Stock made pursuant to a statutory merger or statutory consolidation of the Company with or into
another corporation or corporations if the common stock of the surviving corporation or any direct or indirect parent corporation
thereof is registered under the Exchange Act. Any Transfer or purported Transfer of Securities of the Company shall be null and
void unless the terms, conditions and provisions of this Section 3 are strictly observed and followed. The restrictions contained
in this Section 3 shall be in addition to any restrictions on transfer that may otherwise be applicable, including without
limitation those contained in the Company’s memorandum and articles of association, bylaws, the Award Agreement, or pursuant
to applicable securities laws.

 

    	 	Atieva, Inc.

Exhibit A to Stock Option Agreement

Notice of Exercise and Common Share Purchase Agreement
	 
	 	A-2 	 

     

    

 

For purposes of this
Agreement, Immediate Family means a person’s child, stepchild, grandchild, parent, stepparent, grandparent, spouse,
sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law, including adoptive relationships.

 

SECTION 4.       COMPANY’S
RIGHT OF FIRST REFUSAL.

 

Before
any shares of Stock registered in the name of Purchaser may be sold or transferred, such shares shall first be offered to the Company
pursuant to the right of first refusal contained in the Company’s memorandum and articles of association, bylaws or in any
Shareholder Agreement to which Purchaser is a party, in each case as amended from time to time, and in the absence of any such
provision in the memorandum and articles of association, bylaws or any Shareholder Agreement, then as follows (the “Right
of First Refusal”):

 

(a)            Purchaser
shall promptly deliver a notice (“Notice”) to the Company stating (i) Purchaser’s bona fide intention to
sell or transfer such shares and the identity of the proposed purchaser or transferee, (ii) the number of such shares to be
sold or transferred, and the basic terms and conditions of such sale or transfer, (iii) the price for which Purchaser proposes
to sell or transfer such shares, (iv) the name of the proposed purchaser or transferee, and (v) proof satisfactory to
the Company that the proposed sale or transfer will not violate any applicable U.S. federal, state or foreign securities laws.
The Notice shall be signed by both Purchaser and the proposed purchaser or transferee and must constitute a binding commitment
subject to the Company’s Right of First Refusal as set forth herein.

 

(b)            Within
thirty (30) days after receipt of the Notice, the Company may elect to purchase all or any portion of the shares to which the Notice
refers, at the price per share specified in the Notice. If the Company elects not to purchase all or any portion of the shares,
the Company may assign its right to purchase all or any portion of the shares. The assignees may elect within thirty (30) days
after receipt by the Company of the Notice to purchase all or any portion of the shares to which the Notice refers, at the price
per share specified in the Notice. If the price specified in the Notice consists of no legal consideration (as, for example, in
the case of a transfer by gift), the purchase price will be the fair market value of the shares as determined in good faith by
the Company. An election to purchase shall be made by written notice to Purchaser. Payment for shares purchased pursuant to this
Section 4 shall be made within thirty (30) days after receipt of the Notice by the Company and, at the option of the Company,
may be made by cancellation of all or a portion of outstanding indebtedness, if any, or in cash or both.

 

(c)            If
all or any portion of the shares to which the Notice refers are not elected to be purchased, as provided in subparagraph 4(b),
Purchaser may sell those shares to any person named in the Notice at the price specified in the Notice, provided that such sale
or transfer is consummated within sixty (60) days of the date of said Notice to the Company, and provided, further, that any such
sale is made in compliance with applicable U.S. federal, state and foreign securities laws and not in violation of any other contractual
restrictions to which Purchaser is bound. The third-party purchaser shall be bound by, and shall acquire the shares subject to,
the provisions of this Agreement, including the Company’s Right of First Refusal.

 

    	 	Atieva, Inc.

Exhibit A to Stock Option Agreement

Notice of Exercise and Common Share Purchase Agreement
	 
	 	A-3 	 

     

    

 

(d)            Any
proposed transfer on terms and conditions different from those set forth in the Notice, as well as any subsequent proposed transfer
shall again be subject to the Company’s Right of First Refusal and shall require compliance with the procedures described
in this Section 4.

 

(e)            Purchaser
agrees to cooperate affirmatively with the Company, to the extent reasonably requested by the Company, to enforce rights and obligations
pursuant to this Agreement.

 

(f)              Notwithstanding
the above, neither the Company nor any assignee of the Company under this Section 4 shall have any right under this Section 4
at any time subsequent to (i) the closing of a public offering of the Stock of the Company pursuant to a registration statement
declared effective under the Securities Act or (ii) any transfer or conversion of shares of the Company’s Stock
made pursuant to a statutory merger or statutory consolidation of the Company with or into another corporation or corporations
if the common stock of the surviving corporation or any direct or indirect parent corporation thereof is registered under the Exchange
Act.

 

(g)            This
Section 4 shall not apply to (i) a transfer by will or intestate succession, or (ii) a transfer to one or more of
Purchaser’s Immediate Family or to a trust established by Purchaser for the benefit of Purchaser and/or one or more of Purchaser’s
Immediate Family, provided that the transferee agrees in writing on a form prescribed by the Company to be bound by all of the
provisions of this Agreement to the same extent as they apply to Purchaser. The transferee shall execute a copy of the attached
Annex I and file the same with the Secretary of the Company.

 

(h)            In
the event of any transfer by operation of law or other involuntary transfer (including death, whether by will or intestate succession,
or divorce, but excluding a transfer to an Immediate Family as set forth in Section 4(g) above) of all or a portion of
the shares of Stock held by the record holder thereof, the Company’s Right of First Refusal shall consist of an option to
purchase all of the shares transferred at the fair market value of the shares on the date of transfer (as determined by the Committee).
Upon such a transfer, the person acquiring the shares shall promptly notify the Secretary of the Company of such transfer. The
right to purchase such shares shall be provided to the Company for a period of thirty (30) days following receipt by the Company
of written notice by the person acquiring the shares.

 

(i)            Notwithstanding
anything to the contrary set forth in this Agreement, Purchaser hereby agrees to be bound by any and all restrictions on the transfer
of shares of Stock as set forth in the Company’s memorandum and articles of association and bylaws (each as may be amended
from time to time) and that such transfer restrictions (and any other transfer restrictions contained in any Shareholder Agreement
to which Purchaser is a party shall supersede all other agreements, whether written or oral, in place by and between the Company
and Purchaser regarding the transfer of the shares of Stock.

 

SECTION 5.       COMPANY
PURCHASE RIGHT

 

(a)            At
any time within the one (1)-year period following the Purchaser’s termination of Service with the Company for Cause, or following
Purchaser’s voluntary termination of Service with the Company when grounds for termination for Cause exists, the Company
shall have the option (exercisable by written notice to the Purchaser or the transferee of Purchaser) to purchase, and the Purchaser
(or the transferee of Purchaser) shall sell, all of the shares of Stock then owned by the Purchaser (or the transferee of Purchaser)
acquired under the Plan in accordance with the procedures set forth in Section 5(b) below.

 

    	 	Atieva, Inc.

Exhibit A to Stock Option Agreement

Notice of Exercise and Common Share Purchase Agreement
	 
	 	A-4 	 

     

    

 

(b)            The
purchase price therefor shall be paid in cash and shall be equal to the lesser of (i) Purchaser’s original cost for
the shares of Stock and (ii) the then fair market value of such shares of Stock as determined by the Committee. Such fair
market value shall be determined as of the day the Company elects to exercise its Purchase Right under this Section and the
Committee’s good faith determination shall be binding on all parties. Such purchase price shall be paid pursuant to such
terms and conditions as the Committee shall determine are necessary and appropriate to carry out the intent of this Section 5.

 

Notwithstanding
the above, the Company shall not have any right under this Section 5 at any time subsequent to the closing of a public offering
of the Stock of the Company pursuant to a registration statement declared effective under the Securities Act or any transfer
or conversion of shares of the Company’s Stock made pursuant to a statutory merger or statutory consolidation of the Company
with or into another corporation or corporations if the common stock of the surviving corporation or any direct or indirect parent
corporation thereof is registered under the Exchange Act.

 

SECTION 6.       PURCHASER’S
RIGHTS AFTER EXERCISE OF RIGHT OF FIRSTREFUSAL OR PURCHASE.

 

If the Company makes
available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Stock to be repurchased
in accordance with the provisions of Sections 4 or 5 of this Agreement, then from and after such time the person from whom
such shares are to be repurchased shall no longer have any rights as a holder of such shares (other than the right to receive payment
of such consideration in accordance with this Agreement). Such shares shall be deemed to have been repurchased in accordance with
the applicable provisions hereof, whether or not the certificate(s) therefor have been delivered as required by this Agreement.

 

SECTION 7.        LEGEND
OF SHARES.

 

All certificates representing
the Stock purchased under this Agreement shall, where applicable, have endorsed thereon the following legends and any other legends
required by applicable securities laws:

 

THE SECURITIES REPRESENTED BY
THIS CERTIFICATE HAVE NOT BEEN REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS
OF ANY STATE OR FOREIGN JURISDICTION, AND MAY BE OFFERED AND SOLD ONLY IF REGISTERED AND QUALIFIED PURSUANT TO THE RELEVANT
PROVISIONS OF U.S. FEDERAL, STATE AND APPLICABLE FOREIGN SECURITIES LAWS OR IF THE COMPANY IS PROVIDED AN OPINION OF COUNSEL SATISFACTORY
TO THE COMPANY THAT REGISTRATION AND QUALIFICATION UNDER U.S. FEDERAL, STATE AND APPLICABLE FOREIGN SECURITIES LAWS IS NOT REQUIRED.

 

THE SECURITIES REPRESENTED BY
THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE TERMS
OF THE COMPANY’S STOCK PLAN AND A WRITTEN AGREEMENT BETWEEN THE COMPANY AND THE INITIAL HOLDER HEREOF. SUCH PLAN AND AGREEMENT
PROVIDE FOR CERTAIN TRANSFER RESTRICTIONS, INCLUDING LIMITATION ON TRANSFERS, RIGHTS OF FIRST REFUSAL UPON AN ATTEMPTED TRANSFER
OF THE SECURITIES AND CERTAIN REPURCHASE RIGHTS IN FAVOR OF THE COMPANY. THE COMPANY WILL NOT REGISTER OR OTHERWISE RECOGNIZE OR
GIVE EFFECT TO ANY PURPORTED TRANSFER OF SECURITIES THAT DOES NOT COMPLY WITH SUCH TRANSFER RESTRICTIONS. THE SECRETARY OF THE
COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY OF SUCH PLAN AND AGREEMENT TO THE HOLDER HEREOF WITHOUT CHARGE.

 

    	 	Atieva, Inc.

Exhibit A to Stock Option Agreement

Notice of Exercise and Common Share Purchase Agreement
	 
	 	A-5 	 

     

    

 

If the Option is
an ISO, then the following legend should be included:

 

THE SHARES REPRESENTED BY THIS
CERTIFICATE WERE ISSUED UPON EXERCISE OF AN INCENTIVE STOCK OPTION, AND THE COMPANY MUST BE NOTIFIED IF THE SHARES SHALL BE TRANSFERRED
BEFORE THE LATER OF THE TWO (2) YEAR ANNIVERSARY OF THE DATE OF GRANT OF THE OPTION OR THE ONE (1) YEAR ANNIVERSARY OF
THE DATE ON WHICH THE OPTION WAS EXERCISED. THE REGISTERED HOLDER MAY RECOGNIZE ORDINARY INCOME IF THE SHARES ARE TRANSFERRED
BEFORE SUCH DATE.

 

SECTION 8.        PURCHASER’S
INVESTMENT REPRESENTATIONS.

 

(a)           This Agreement
is made with Purchaser in reliance upon Purchaser’s representation to the Company, which by Purchaser’s acceptance
hereof Purchaser confirms, that the Stock which Purchaser will receive will be acquired with Purchaser’s own funds for investment
for an indefinite period for Purchaser’s own account, not as a nominee or agent, and not with a view to the sale or distribution
of any part thereof, and that Purchaser has no present intention of selling, granting participation in, or otherwise distributing
the same, but subject, nevertheless, to any requirement of law that the disposition of Purchaser’s property shall at all
times be within Purchaser’s control. By executing this Agreement, Purchaser further represents that Purchaser does not have
any contract, understanding or agreement with any person to sell, transfer, or grant participation to such person or to any third
person, with respect to any of the Stock.

 

(b)          Purchaser
understands that the Stock will not be registered or qualified under applicable U.S. federal, state or foreign securities laws
on the ground that the sale provided for in this Agreement is exempt from registration or qualification under applicable U.S. federal,
state or foreign securities laws and that the Company’s reliance on such exemption is predicated on Purchaser’s representations
set forth herein.

 

(c)            Purchaser
agrees that in no event shall Purchaser make a disposition of any of the Stock (including a disposition under Section 4 of
this Agreement), unless and until (i) Purchaser shall have notified the Company of the proposed disposition and shall have
furnished the Company with a statement of the circumstances surrounding the proposed disposition and (ii) Purchaser shall
have furnished the Company with an opinion of counsel satisfactory to the Company to the effect that (A) such disposition
will not require registration or qualification of such Stock under applicable U.S. federal, state or foreign securities laws or
(B) appropriate action necessary for compliance with the applicable U.S. federal, state or foreign securities laws has been
taken or (iii) the Company shall have waived, expressly and in writing, its rights under clauses (i) and (ii) of
this Section.

 

(d)          With
respect to a transaction occurring prior to such date as the Plan and Stock thereunder are covered by a valid Form S-8 or
similar U.S. federal registration statement, this Subsection shall apply unless the transaction is covered by the exemption from
registration or qualification under applicable state law. In connection with the investment representations made herein, Purchaser
represents that Purchaser is able to fend for himself or herself in the transactions contemplated by this Agreement, has such knowledge
and experience in financial and business matters as to be capable of evaluating the merits and risks of Purchaser’s investment,
has the ability to bear the economic risks of Purchaser’s investment and has been furnished with and has had access to such
information as would be made available in the form of a registration statement together with such additional information as is
necessary to verify the accuracy of the information supplied and to have all questions answered by the Company.

 

    	 	Atieva, Inc.

Exhibit A to Stock Option Agreement

Notice of Exercise and Common Share Purchase Agreement
	 
	 	A-6 	 

     

    

 

(e)           Purchaser
understands that if the Company does not register with the U.S. Securities and Exchange Commission pursuant to section 12
of the Exchange Act, or if a registration statement covering the Stock (or a filing pursuant to the exemption from registration
under Regulation A of the Securities Act) under the Securities Act is not in effect when Purchaser desires to sell the Stock, Purchaser
may be required to hold the Stock for an indeterminate period. Purchaser also acknowledges that Purchaser understands that any
sale of the Stock which might be made by Purchaser in reliance upon Rule 144 under the Securities Act may be made only in
limited amounts in accordance with the terms and conditions of that Rule.

 

SECTION 9.        NO
DUTY TO TRANSFER IN VIOLATION OF THIS AGREEMENT.

 

The Company shall not
be required (a) to transfer on its books any shares of Stock of the Company which shall have been sold or transferred in violation
of any of the provisions set forth in this Agreement or (b) to treat as owner of such shares or to accord the right to vote
as such owner or to pay dividends to any transferee to whom such shares shall have been so transferred. Any sale or transfer of
the shares of Stock shall be void unless the provisions of this Agreement are satisfied.

 

SECTION 10.      RIGHTS
OF PURCHASER.

 

(a)           Except
as otherwise provided herein, Purchaser shall, during the term of this Agreement, exercise all rights and privileges of a shareholder
of the Company with respect to the Stock.

 

(b)            Nothing
in this Agreement shall be construed as a right by Purchaser to be retained by the Company, or a Subsidiary or an Affiliate of
the Company in any capacity. The Company reserves the right to terminate Purchaser’s Service at any time and for any reason
without thereby incurring any liability to Purchaser.

 

SECTION 11.      RESALE
RESTRICTIONS/MARKET STAND-OFF.

 

Purchaser hereby agrees
that in connection with any underwritten public offering by the Company of its equity securities pursuant to an effective registration
statement filed under the Securities Act, including the Company’s initial public offering, or in connection with the consummation
of a transaction, upon or following which the Company’s (or its successor’s) securities become registered on a U.S.
national securities exchange, Purchaser shall not, directly or indirectly, engage in any transaction prohibited by the underwriter,
or sell, make any short sale of, contract to sell, transfer the economic risk of ownership in, loan, hypothecate, pledge, grant
any option for the purchase of, or otherwise dispose or transfer for value or agree to engage in any of the foregoing transactions
with respect to any Stock without the prior written consent of the Company or its underwriters, for such period of time after the
effective date of such registration statement as may be requested by the Company or such underwriters. Such period of time shall
not exceed one hundred eighty (180) days and may be required by the underwriter as a market condition of the offering; provided,
however, that if either (a) during the last seventeen (17) days of such one hundred eighty (180) day period, the Company issues
an earnings release or material news or a material event relating to the Company occurs or (b) prior to the expiration of
such one hundred eighty (180) day period, the Company announces that it will release earnings results during the sixteen (16) day
period beginning on the last day of the one hundred eighty (180) day period, then the restrictions imposed during such one hundred
eighty (180) day period shall continue to apply until the expiration of the eighteen (18) day period beginning on the issuance
of the earnings release or the occurrence of the material news or material event; provided, further, that in the event the Company
or the underwriter requests that the one hundred eighty (180) day period be extended or modified pursuant to then-applicable law,
rules, regulations or trading policies, the restrictions imposed during the one hundred eighty (180) day period shall continue
to apply to the extent requested by the Company or the underwriter to comply with such law, rules, regulations or trading policies.
Purchaser hereby agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the underwriter
which are consistent with the foregoing or which are necessary to give further effect thereto. To enforce the provisions of this
Section, the Company may impose stop-transfer instructions with respect to the Stock until the end of the applicable stand-off
period.

 

    	 	Atieva, Inc.

Exhibit A to Stock Option Agreement

Notice of Exercise and Common Share Purchase Agreement
	 
	 	A-7 	 

     

    

 

SECTION 12.      RIGHT
TO COMPEL SALE (DRAG-ALONG RIGHTS)

 

Notwithstanding any
provision of this Agreement to the contrary, if at any time the Board of Directors approves a sale of the Company, Purchaser agrees
that he or she will consent to and raise no objections against the sale of the Company, and if the sale of the Company is structured
as (i) a merger or consolidation of the Company, or a sale of all or substantially all of the assets of the Company, Purchaser
will waive any dissenters' rights, appraisal rights or similar rights in connection with such merger, consolidation or asset sale,
or (ii) a sale of all or substantially all of the Stock of the Company, Purchaser agrees to sell all of his or her shares
of Stock acquired under the Plan in the sale of the Company, on the terms and conditions approved by the Board of Directors. Purchaser
hereby agrees to take all necessary and desirable actions approved by the Board of Directors in connection with the consummation
of the sale of the Company, including voting for, giving written consent to the sale of the Company and executing such agreements
and such instruments and completing other actions reasonably necessary to (x) provide customary representations, warranties,
indemnities, and escrow arrangements relating to such sale of the Company and (y) effectuate the allocation and distribution
of the aggregate consideration upon the sale of the Company.

 

SECTION 13.      OTHER
NECESSARY ACTIONS.

 

The parties agree to
execute such further instruments and to take such further action as may reasonably be necessary to carry out the intent of this
Agreement.

 

SECTION 14.      NOTICE.

 

Any notice required
or permitted under this Agreement shall be given in writing and shall be deemed effectively given upon the earliest of personal
delivery, receipt or the third full day following deposit in the United States Post Office with postage and fees prepaid, addressed
to the other party hereto at the address last known or at such other address as such party may designate by ten (10) days’
advance written notice to the other party hereto.

 

SECTION 15.      SUCCESSORS
AND ASSIGNS.

 

This Agreement shall
inure to the benefit of the successors and assigns of the Company and, subject to the restrictions on transfer herein set forth,
be binding upon Purchaser and Purchaser’s heirs, executors, administrators, successors and assigns. The failure of the Company
in any instance to exercise the Right of First Refusal, Purchase Right, Transfer Restriction or other right described herein shall
not constitute a waiver of any of such rights as may subsequently arise under the provisions of this Agreement. No waiver of any
breach or condition of this Agreement shall be deemed to be a waiver of any other or subsequent breach or condition, whether of
a like or different nature.

 

    	 	Atieva, Inc.

Exhibit A to Stock Option Agreement

Notice of Exercise and Common Share Purchase Agreement
	 
	 	A-8 	 

     

    

 

SECTION 16.     APPLICABLE
LAW.

 

This Agreement shall
be governed by, and construed in accordance with, the laws of the state of California, as such laws are applied to contracts entered
into and performed in such state.

 

SECTION 17.      NO
ORAL MODIFICATION.

 

No modification of
this Agreement shall be valid unless made in writing and signed by the parties hereto.

 

SECTION 18.      ENTIRE
AGREEMENT.

 

This Agreement, the
Option Agreement and the Plan constitute the entire complete and final agreement between the parties hereto with regard to the
subject matter hereof.

 

IN WITNESS WHEREOF,
the parties have executed this Agreement as of the day and year first above written.

 

	Atieva, Inc.	 	[Name of Optionee] (PURCHASER)
	 	 	 
	 	 	 

 

	By	 	 	 
	 	 	Signature
	Its	 	 	 

 

    	 	Atieva, Inc.

Exhibit A to Stock Option Agreement

Notice of Exercise and Common Share Purchase Agreement
	 
	 	A-9 	 

     

    

 

ANNEX I

 

ACKNOWLEDGMENT
OF AND AGREEMENT TO BE BOUND

BY THE NOTICE OF EXERCISE AND COMMON SHARE PURCHASE AGREEMENT OF

Atieva, Inc.

 

The undersigned, as
transferee of shares of Atieva, Inc. hereby acknowledges that he or she has read and reviewed the terms of the Notice of Exercise
and Common Share Purchase Agreement of Atieva, Inc. and hereby agrees to be bound by the terms and conditions thereof, as
if the undersigned had executed said Agreement as an original party thereto.

 

Dated: ____________________, ____.

	 	 
	 	 
	 	(Signature of Transferee)
	 	 
	 	(Printed Name of Transferee)

 

    	 	Atieva, Inc.
Annex I to
Notice of Exercise and Common Share Purchase Agreement
	 
	 	- 1 -	 

     

    

 

EXHIBIT B

 

U.S.
FEDERAL TAX INFORMATION

 

(Current as of December, 2020)

 

The following memorandum
briefly summarizes current U.S. federal income tax law. The discussion is intended to be used solely for general information purposes
and does not make specific representations to any participant. A taxpayer’s particular situation may be such that some variation
of the basic rules is applicable to him or her. In addition, the U.S. federal income tax laws and regulations are revised
frequently and may change again in the future. The Company undertakes no obligation to update this memorandum. Each participant
is urged to consult a tax advisor, both with respect to U.S. federal income tax consequences as well as any foreign, state or local
tax consequences, before exercising any option or before disposing of any shares of stock acquired under the Plan.

 

Initial Grant of Options

 

The grant of an option,
whether a nonqualified or nonstatutory stock option (“NSO”) or an incentive stock option (“ISO”), is not
a taxable event for the optionee, and the Company obtains no deduction for the grant of the option. Note, however, that under Section 409A
of the Internal Revenue Code, options granted at a discount from fair market value may be considered “deferred compensation”
subject to adverse tax consequences, including immediate income tax upon the vesting of the option (whether or not exercised) and
a 20% tax penalty.

 

Nonqualified or Nonstatutory Stock Options

 

The exercise of an
NSO is a taxable event to the optionee on the date of exercise. The amount by which the fair market value of the shares on the
date of taxation exceeds the exercise price (the “spread”) will be taxed to the optionee as ordinary income. If the
option was granted to an employee, the spread will also be considered “wages” for purposes of FICA taxes. The Company
will be entitled to a deduction in the same amount as the ordinary income recognized by the optionee from the exercise of the option
that is reported to the IRS by the optionee or the Company. In general, the optionee’s tax basis in the shares acquired by
exercising an NSO is equal to the fair market value of such shares on the date of taxation. The optionee’s holding period
for capital gains treatment will begin on the date of taxation. Upon a subsequent sale of any such shares in a taxable transaction,
the optionee will realize capital gain or loss (long-term or short-term, depending on whether the required holding period was met
before the sale) in an amount equal to the difference between his or her basis in the shares and the sale price.

 

The capital gains tax
rules are complex. If shares are held for more than one year, the rules for long-term capital gains will apply. The maximum
tax rate on long-term capital gains depends on the taxpayer’s taxable income for the year. A fifteen percent (15%) tax rate
on long-term capital gains applies to taxpayers with taxable income above certain thresholds, which are indexed for inflation (generally
for 2020, $40,000 for single filers, $40,000 for married filing separately, or $80,000 for joint filers). The tax rate on long-term
capital gains is zero percent (0%) for taxable income below these threshold amounts, and the tax rate on long-term capital gains
increases to twenty percent (20%) to the extent that a taxpayer’s income exceeds certain thresholds, which are indexed for
inflation (generally, for 2020, $441,450 for single filers, $248,300 for married filing separately, or $496,600 for joint filers).
High income taxpayers are also subject to an additional tax of 3.8% on some or all of their net investment income, including capital
gain income, if their “modified adjusted gross income” (both earned and investment) exceeds certain thresholds (generally,
$200,000 for single filers, $125,000 for married filing separately, or $250,000 for joint filers). Because the rules are complex
and can vary in individual circumstances, each participant should consider consulting his or her own tax advisor.

 

    Atieva, Inc.
Exhibit B to Stock Option Agreement
U.S. Federal Tax Information

     

    

 

If an optionee exercises
an NSO and pays the exercise price with previously acquired shares of stock, special rules apply. The transaction is treated
as a tax-free exchange of the old shares for the same number of new shares, except as described below with respect to shares acquired
pursuant to ISOs. The optionee’s basis in the new shares is the same as his or her basis in the old shares, and the capital
gains holding period runs without interruption from the date when the old shares were acquired. The value of any new shares received
by the optionee in excess of the number of old shares surrendered minus any cash the optionee pays for the new shares will be taxed
as ordinary income. The optionee’s basis in the additional shares is equal to the fair market value of such shares on the
date the shares were transferred, and the capital gain holding period commences on the same date. The effect of these rules is
to defer recognition of any gain in the old shares when those shares are used to buy new shares. Stated differently, these rules allow
an optionee to finance the exercise of an NSO by using shares of stock that he or she already owns, without paying current tax
on any unrealized appreciation in those old shares.

 

Incentive Stock Options

 

The holder of an ISO
will not for U.S. federal income tax purposes recognize taxable income upon the exercise of the ISO, and the Company will not be
entitled to a tax deduction by reason of such exercise, provided that the holder is employed by the Company on the exercise date
(or the holder’s employment terminated within the three (3) months preceding the exercise date). Exceptions to this
exercise timing requirement may apply in the event the optionee dies or becomes disabled. The exercise of an option entitled to
favorable ISO tax treatment at the time of exercise may, however, result in liability for the alternative minimum tax, discussed
below. An option intended to be an ISO which is not exercised in compliance with the ISO timing requirements is treated as an NSO
for tax purposes. A subsequent sale of the shares received upon the exercise of an ISO entitled to favorable ISO tax treatment
at the time of exercise will result in the realization of long-term capital gain or loss in the amount of the difference between
the amount realized on the sale and the exercise price for such shares, provided that the sale occurs more than one (1) year
after the exercise of the ISO and more than two (2) years after the grant of the ISO. In general, if a sale or disposition
of the shares occurs prior to satisfaction of the foregoing holding periods (referred to as a “disqualifying disposition”),
the optionee will recognize ordinary income at the time of the sale or disposition in an amount equal to the excess of the fair
market value of the shares on the option exercise date of those shares over the exercise price paid for those shares. If the disqualifying
disposition is effected by means of an arm’s length sale or exchange with an unrelated party, the ordinary income will be
limited to the amount by which the amount realized upon the disposition of the shares or their fair market value on the exercise
date, whichever is less, exceeds the exercise price paid for the shares. The amount of an optionee’s disqualifying disposition
income will be reported by the Company to the Internal Revenue Service. Any additional gain recognized upon the disqualifying disposition
will be capital gain, which will be long-term if the shares have been held for more than one (1) year following the exercise
date of the option.

 

Favorable ISO tax treatment
is accorded to an optionee at the time of exercise only to the extent that the value of the shares (determined at the time of grant)
covered by an ISO first exercisable in any single calendar year does not exceed one hundred thousand dollars ($100,000). If ISOs
for shares whose aggregate value exceeds one hundred thousand dollars ($100,000) become exercisable in the same calendar year,
the excess will be treated as NSOs.

 

    Atieva, Inc.
Exhibit B to Stock Option Agreement
U.S. Federal Tax Information

     

    

 

A special rule applies
if an optionee pays all or part of the exercise price of an ISO by surrendering shares of stock that he or she previously acquired
by exercising any other ISO. If the optionee has not held the old shares for the full duration of the applicable holding periods,
then the surrender of such shares to fund the exercise of the new ISO will be treated as a disqualifying disposition of the old
shares. As described above, the result of a disqualifying disposition is the loss of favorable tax treatment with respect to the
acquisition of the old shares pursuant to the previously exercised ISO.

 

Where the applicable
holding period requirements have been met, the use of previously acquired shares of stock to pay all or a portion of the exercise
price of an ISO may offer significant tax advantages. In particular, a deferral of the recognition of any appreciation in the surrendered
shares is available in the same manner as discussed above with respect to NSOs.

 

Alternative Minimum Tax

 

Alternative minimum
tax is paid when such tax exceeds a taxpayer’s regular U.S. federal income tax. Alternative minimum tax is calculated based
on alternative minimum taxable income, which is taxable income for U.S. federal income tax purposes, modified by certain adjustments
and increased by tax preference items.

 

The “spread”
under an ISO—that is, the difference between (a) the fair market value of the shares of stock at exercise and (b) the
exercise price—is classified as alternative minimum taxable income for the year of exercise. Alternative minimum taxable
income may be subject to the alternative minimum tax. However, if the shares of stock purchased upon the exercise of an ISO are
sold in the same taxable year in which alternative minimum taxable income is recognized, then the amount includible in the taxpayer’s
alternative minimum taxable income will not exceed the amount realized upon such sale less the option exercise price paid for those
shares, provided that such disposition is a sale or exchange with respect to which a loss (if sustained) would be recognized to
such individual.

 

In general, when a
taxpayer sells stock acquired through the exercise of an ISO, only the difference between the fair market value of the shares on
the date of exercise and the date of sale is used in computing any alternative minimum tax for the year of the sale. The portion
of a taxpayer’s alternative minimum tax attributable to certain items of tax preference (including the alternative minimum
taxable income from an ISO) can be credited against the taxpayer’s regular liability in later years subject to certain limitations.

 

Withholding Taxes

 

Exercise of an NSO
produces taxable income which, in the case of an option granted to an employee, is subject to income and FICA tax withholding.
The Company will not deliver shares to the optionee unless the optionee has agreed to satisfactory arrangements for meeting all
applicable U.S. federal, state and local withholding tax requirements.

 

U.S. federal tax law
does not require unrecognized gain on exercise of an ISO to be treated as “wages” for the purposes of FICA taxes.

 

THIS TAX SUMMARY IS
GENERAL IN NATURE AND SHOULD NOT BE RELIED UPON BY ANY PERSON IN DECIDING WHETHER OR WHEN TO EXERCISE AN OPTION. EACH PERSON SHOULD
CONSULT HIS OR HER OWN TAX ADVISOR REGARDING THESE MATTERS.

 

    Atieva, Inc.
Exhibit B to Stock Option Agreement
U.S. Federal Tax Information

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