Document:

AABVC Exhibit 4

  AMERICAN BRIVISION (HOLDING) CORPORATION
 2016 EQUITY INCENTIVE PLAN
 

 

 SECTION 1.   PURPOSE

The purposes of this 2016 Equity Incentive Plan (the "Plan") are to encourage selected employees, directors and consultants of American BriVision (Holding) Corporation (together with any successor thereto, the "Company") and its Affiliates (as defined below) to acquire a proprietary interest in the growth and performance of the Company, to generate an increased incentive to contribute to the Company's future success and prosperity, thus enhancing the value of the Company for the benefit of its shareholders, and to enhance the ability of the Company and its Affiliates to attract and retain exceptionally qualified individuals upon whom, in large measure, the sustained progress, growth and profitability of the Company depend.

SECTION 2.   DEFINITIONS

As used in the Plan, the following terms shall have the meanings set forth below:
 	 	
	  
	 (a)   "Affiliate" shall mean (i) any entity that, directly or through one or more intermediaries, is controlled by the Company and (ii) any entity in which the Company has a significant equity interest, as determined by the Board of Directors (the “Board”) or the Committee.

	  
	  

	  
	 (b)   "Award" shall mean any Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Performance Award, Dividend Equivalent, or Other Stock-Based Award granted under the Plan.

	  
	  

	  
	 (c)   "Award Agreement" shall mean any written agreement, contract, or other instrument or document evidencing any Award granted under the Plan.

	  
	  

	  
	 (d)   "Code" shall mean the Internal Revenue Code of 1986, as amended from time to time.

	  
	  

	  
	 (e)   "Consultant" shall mean a consultant or adviser who provides bona fide services to the Company or an Affiliate as an independent contractor.  Service as a consultant shall be considered employment for all purposes of the Plan, except for purposes of satisfying the requirements of Incentive Stock Options.

	  
	  

	  
	 (f) "Committee" shall mean a committee of not fewer than two members, each of whom is a member of the Board and all of whom are disinterested persons, as contemplated by Rule 16b-3 ("Rule 16b-3") promulgated under the Securities Exchange Act of 1934, as amended ("Exchange Act") and each of whom is an outside director for purposes of Section 162(m) of the Code, acting in accordance with the provisions of Section 3, designated by the Board to administer the Plan.   

	  
	  

	  
	 (g)   "Dividend Equivalent" shall mean any right granted under Section 6(e) of the Plan.

	  
	  

	  
	 (h)   "Employee" shall mean any employee of the Company or of any Affiliate.

	  
	  

	  
	 (i)   "Fair Market Value" shall mean, with respect to any property (including, without limitation, any Shares or other Securities), the fair market value of such property determined by such methods or procedures as shall be established from time to time by the Board or the Committee.

	  
	  

	  
	 (j)   "Incentive Stock Option" shall mean an option granted under Section 6(a) of the Plan that is intended to meet the requirements of Section 422 of the Code, or any successor provision thereto. 

	  
	  

	  
	 (k)   "Non-Qualified Stock Option" shall mean an option granted under Section 6(a) of the Plan that is not intended to be an Incentive Stock Option.

	  
	  

	  
	 (l)   "Option" shall mean an Incentive Stock Option or a Non-Qualified Stock Option.

	  
	  

	  
	 (m)  "Other Stock-Based Award" shall mean any right granted under Section 6(f) of the Plan.

	  
	  

	  
	 (n) "Participant" shall mean any person that renders bona fide services to the Company (including, without limitation, the following: a person employed by the Company or an Affiliate in a key capacity; an officer or director of the Company; a person engaged by the Company as a consultant; or a lawyer, law firm, accountant or accounting firm) who receives an Award under the Plan.

	  
	  

	  
	 (o)   "Performance Award" shall mean any right granted under Section 6(d) of the Plan.

	  
	  

	  
	 (p)   "Person" shall mean any individual, corporation, partnership, association, joint-stock company, trust, unincorporated organization, or government or political subdivision thereof.

	  
	  

	  
	 (q) INTENTIONALLY LEFT BLANK 

	  
	  

	  
	 (r)   "Released Securities" shall mean shares of Restricted Stock as to which all restrictions imposed by the Board or the Committee have expired, lapsed, or been waived.

	  
	  

	  
	 (s)   "Restricted Stock" shall mean any Share granted under Section 6(c) of the Plan.

	  
	  

	  
	 (t)   "Restricted Stock Unit" shall mean any right granted under Section 6(c) of the Plan that is denominated in Shares.

	  
	  

	  
	 (u)   "Shares" shall mean the shares of common stock of the Company, $.001 per share par value, and such other securities or property as may become the subject of Awards, or become subject to Awards, pursuant to an adjustment made under Section 4(b) of the 
 Plan.

	  
	  

	  
	 (v)   "Stock Appreciation Right" shall mean any right granted under Section 6(b) of the Plan.

 
SECTION 3.   ADMINISTRATION

The Plan shall be administered by the Board; provided however, that the Board may delegate such administration to the Committee.     
 

 Subject to the provisions of the Plan, the Board and/or the Committee shall have authority to (a) determine the type or types of Awards to be granted to each Participant under the Plan; (b) determine the number of Shares to be covered by (or with respect to which payments, rights, or other matters are to be calculated in connection with) Awards; (c) determine the terms and conditions of any award; (d) determine the time or times when each Award shall become exercisable and the duration of the exercise period; (e) determine whether, to what extent, and under what circumstances Awards may be settled in or exercised for cash, Shares, other securities, other Awards, or other property, or canceled, forfeited, or suspended, and the method or methods by which Awards may be settled, exercised, canceled, forfeited, or suspended; (f) determine whether, to what extent, and under what circumstances cash, shares, other securities, other Awards, other property, and other amounts payable with respect to an Award under the Plan shall be deferred either automatically or at the election of the holder thereof or of the Board or the Committee; (g) construe and interpret the Plan; (h) promulgate, amend and rescind rules and regulations relating to its  administration, and correct defects, omissions and inconsistencies in the Plan or any Award; (i) consistent with the  Plan and with the consent of the Participant, as appropriate, amend any outstanding Award or amend the exercise date  or dates; (j) determine the duration and purpose of leaves of absence which may be granted to Participants without  constituting termination of their employment for the purpose of the Plan; and (k) make all other determinations  necessary or advisable for the Plan's administration.  The Board and the Committee’s interpretation and construction of any provisions of the Plan or of any Award shall be conclusive and final.  No member of the Board or the Committee shall be liable for any action or determination made in good faith with respect to the Plan or any Award.
 

 In the case of any Award that is intended to qualify as performance-based compensation for purposes of Section 162(m) of the Code, once the Award is made, neither the Board nor Committee shall not have discretion to increase the amount of compensation payable under the Award that would otherwise be due upon attainment of the performance goal.  
 
SECTION 4.   SHARES AVAILABLE FOR AWARDS
 	 	 	 	 	 	
	  
	 (a)
	 SHARES AVAILABLE.  Subject to adjustment as provided in Section 4(b):

	  
	  
	  
	  
	  
	  

	  
	  
	 (i)
	  
	 CALCULATION OF NUMBER OF SHARES AVAILABLE.  The number of Shares available for granting Awards under the Plan shall be (A) _______10% of the current outstanding shares__________, plus (B) additional Shares as follows:  As of January 1 of each year, commencing with the year 2017 and ending with the year ___5__, the aggregate number 
 of Shares available for granting Awards under the Plan shall automatically increase by a number of Shares equal to 5% of the total number of Shares then outstanding  Further, if, after the effective date of the Plan, any Shares covered by an Award granted under the Plan or to which such an Award or award relates, are forfeited, or if an Award or award otherwise terminates without the delivery of Shares or of other consideration, then the Shares covered by such Award or award, or to which such Award or award relates, or the number of Shares otherwise counted against the aggregate number of Shares available under the Plan with respect to such Award or award, to the extent of any such forfeiture or termination, shall again be, or shall become, available for granting Awards under the Plan.  Notwithstanding the foregoing, the maximum number of Shares with respect to which Incentive Stock Options may be granted in any year shall be ___2% of the total outstanding shares_.

	  
	  
	  
	  
	  
	  

	  
	  
	 (ii)
	  
	 ACCOUNTING FOR AWARDS.  For purposes of this Section 4,

	  
	  
	  
	  
	  
	  

	  
	  
	  
	 (A)
	 if an Award (other than a Dividend Equivalent) is denominated in Shares, the number of Shares covered by such Award, or to which such Award relates, shall be counted on the date of grant of such Award against the aggregate number of Shares available for granting Awards under the Plan; and

	  
	  
	  
	  
	  
	  

	  
	  
	  
	 (B)
	 Dividend Equivalents and Awards not denominated in Shares shall not be counted against the aggregate number of Shares available for granting Awards under the Plan.

	  
	  
	  
	  
	  
	  

	  
	  
	  
	  
	  
	  

	  
	  
	 (iii)
	  
	 SOURCES OF SHARES DELIVERABLE UNDER AWARDS.  Any shares delivered pursuant to an Award may consist, in whole or in part, of authorized and unissued Shares or of Treasury Shares.

	  
	  
	  
	  
	  
	  

	  
	 (b)
	 ADJUSTMENTS.  In the event that the Board or the Committee shall determine that any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, purchase, or exchange of Shares or other securities of the Company, issuance of warrants or other rights to purchase Shares or other securities of the Company, or other similar corporate transaction or event affects the Shares such that an adjustment is determined by the Board or the Committee to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Board or the Committee shall, in such manner as it may deem equitable, adjust any or all of (i) the number and type of Shares (or other securities or property) which thereafter may be made the subject of Awards, (ii) the number and type of Shares (or other securities or property) subject to outstanding Awards, (iii) the number and type of Shares (or other securities or property) specified as the annual per-participant limitation under Section 
 6(g)(vi), and (iv) the grant, purchase, or exercise price with respect to any Award, or, if deemed appropriate, make provision for a cash payment to the holder of an outstanding Award; provided, however, in each case, that with respect to Awards of Incentive Stock Options no such adjustment shall be authorized to the extent that such authority would cause the Plan to violate Section 422(b)(1) of the Code or any successor provision thereto; and provided, further, however, that the number of Shares subject to any award denominated in Shares shall always be a whole number.

 

 

 SECTION 5.   ELIGIBILITY

Any Employee, Director or Consultant shall be eligible to receive Awards under the Plan.  The Board shall approve any Awards granted to members of the Committee.

SECTION 6.   AWARDS
 	 	 	 	 	 	 	
	  
	 (a)
	 OPTIONS.  The Board and the Committee are hereby authorized to grant Options with the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Board or the Committee shall determine:

	  
	  
	  
	  
	  
	  

	  
	  
	 (i)
	  
	 EXERCISE PRICE.  The exercise price per Share of each Option shall be determined by the Board or the Committee; provided, however, that such exercise price per Share under any Incentive Stock Option shall not be less than 100% (110% in the case of a "10-percent shareholder as such term is used in Section 422(c)(5) of the Code) of the Fair Market Value of a Share on the date of grant of such Incentive Stock Option.

	  
	  
	  
	  
	  
	  

	  
	  
	 (ii)
	  
	 OPTION TERM.  The term of each Option shall be fixed by the Board or the Committee, provided that no Incentive Stock Option shall have a term greater than 10 years (5 years in the case of a "10-percent shareholder) as such term is used in Section 422(c)(5) of the Code).

	  
	  
	  
	  
	  
	  

	  
	  
	 (iii)
 

 

 

 

 

 

 

 (iv)
	  
	 TIME AND METHOD OF EXERCISE.  The Board or the Committee shall determine the time or times at which an Option may be exercised in whole or in part, and the method or methods by which, cash, property, securities (including options issued under the Plan), or any combination thereof, having a Fair Market Value on the exercise date equal to the relevant exercise price, in which, payment of the exercise price with respect thereto may be made or deemed to have been made. 
 

 GRACE PERIOD. Except as otherwise determined by the Board or the Committee, upon termination of employment (as determined under criteria established by the Board or the Committee) for any reason during the term of an Option, the employee has 60 days after termination to exercise options vested as of the date of termination.

	  
	  
	  
	  
	  
	  

	  
	  
	 (v)
	  
	 INCENTIVE STOCK OPTIONS.  The terms of any Incentive Stock Option 
 granted under the Plan shall comply in all respects with the provisions of Section 422 of the Code, or any successor provision thereto, and any regulations promulgated thereunder.

	  
	  
	  
	  
	  
	  

	  
	 (b)
	 STOCK APPRECIATION RIGHTS.  The Board and the Committee are hereby authorized to grant Stock Appreciation Rights.  A Stock Appreciation Right granted under the Plan shall confer on the holder thereof a right to receive, upon exercise thereof, the excess of (1) the Fair Market Value of one Share on the date of exercise or, if the Board or the Committee shall so determine in the case of any such right other than one related to any Incentive Stock Option, at any time during a specified period before or after the date of exercise over (2) the grant price of the right as specified by the Board or the Committee.  Subject to the terms of the Plan, the grant price, term, methods of exercise, methods of settlement, and any other terms and conditions of any Stock Appreciation Right shall be as determined by the Board or the Committee.  The Board and the Committee may impose such conditions or restrictions on the exercise of any Stock Appreciation Right as it may deem appropriate.

	  
	  
	  
	  
	  
	  

	  
	 (c)
	 RESTRICTED STOCK AND RESTRICTED STOCK UNITS.

	  
	  
	  
	  
	  
	  

	  
	  
	 (i)
	  
	 ISSUANCE.  The Board and the Committee are hereby authorized to grant Awards of Restricted Stock and Restricted Stock Units.

	  
	  
	  
 (ii)
	  
	  
 RESTRICTIONS.  Shares of Restricted Stock and Restricted Stock Units shall be subject to such restrictions as the Board or the Committee may impose (including, without limitation, any limitation on the right to receive any dividend or other right or property), which restrictions may lapse separately or in combination at such time or times, in such installments or otherwise, as the Board or the Committee may deem appropriate.

	  
	  
	  
	  
	  
	  

	  
	  
	 (iii)
	  
	 REGISTRATION.  Any Restricted Stock granted under the Plan may be evidenced in such manner as the Board or the Committee may deem appropriate, including, without limitation, book-entry registration or issuance of a stock certificate or certificates.  In the event any stock certificate is issued in respect of Shares of restricted Stock granted under the Plan, such certificate shall be registered in the name of the Participant and shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Stock.

	  
	  
	  
	  
	  
	  

	  
	  
	 (iv)
	  
	 FORFEITURE.  Except as otherwise determined by the Board or the Committee, upon termination of employment (as determined under criteria established by the Board or the Committee) for any reason during the applicable restriction period, all Shares of Restricted Stock and all Restricted Stock Units still, in either case, subject to restriction shall be forfeited and reacquired by the Company; provided, however, that the Board or the Committee may, when it finds that a waiver would be in the best interests of the Company, waive in whole or in part any or all remaining restrictions 
 with respect to Shares of Restricted Stock or Restricted Stock Units.  Unrestricted Shares, evidenced in such manner as the Board or the Committee shall deem appropriate, shall be delivered to the Participant promptly after such Restricted Stock shall become Released Securities.

	  
	  
	  
	  
	  
	  

	  
	 (d)
	 PERFORMANCE AWARDS.  The Board and the Committee are hereby authorized to grant Performance Awards.  Subject to the terms of the Plan, a Performance Award granted under the Plan (i) may be denominated or payable in cash, Shares (including, without limitation, Restricted Stock), other securities, other Awards, or other property and (ii) shall confer on the holder thereof rights valued as determined by the Board or the Committee and payable to, or exercisable by, the holder of the Performance Award, in whole or in part, upon the achievement of such performance goals during such performance periods as the Board or the Committee shall establish.  Subject to the terms of the Plan and any applicable Award Agreement, the performance goals to be achieved during any performance period, the length of any performance period, the amount of any Performance Award granted, and the amount of any payment or transfer to be made pursuant to any Performance Award shall be determined by the Board or the Committee.  The goals established by the Board or the Committee shall be based on any one, or combination of, earnings per share, return on equity, return on assets, total shareholder return, net operating income, cash flow, revenue, economic value added, increase in Share price or cash flow return on investment, or any other measure the Board or the Committee deems appropriate.  Partial achievement of the goal(s) may result in a payment or vesting corresponding to the degree of achievement.

	  
	  
	  
	  
	  
	  

	  
	 (e)
	 DIVIDEND EQUIVALENTS.  The Board and the Committee are hereby authorized to grant Awards under which the holders thereof shall be entitled to receive payments equivalent to dividends or interest with respect to a number of Shares determined by the Board or the Committee, and the Board and the Committee may provide that such amounts (if any) shall be deemed to have been reinvested in additional Shares or otherwise reinvested.  Subject to the terms of the Plan, such Awards may have such terms and conditions as the Board or the Committee shall determine.

	  
	  
	  
	  
	  
	  

	  
	 (f)
	 OTHER STOCK-BASED AWARDS.  The Board and the Committee are hereby authorized to grant such other Awards that are denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to, Shares (including, without limitation, securities convertible into Shares), as are deemed by the Board or the Committee to be consistent with the purposes of the Plan, provided, however, that such grants must comply with applicable law.  Subject to the terms of the Plan, the Board or the Committee shall determine the terms and conditions of such Awards.

	  
	  
	  
	  
	  
	  

	  
	 (g)
	 GENERAL.

	  
	  
	  
	  
	  
	  

	  
	  
	 (i)
	  
	 NO CASH CONSIDERATION FOR AWARDS.  Awards shall be granted for no cash consideration or for such minimal cash consideration as may be required by applicable law.

	  
	  
	  
	  
	  
	  

	  
	  
	 (ii)
	  
	 AWARDS MAY BE GRANTED SEPARATELY OR TOGETHER.  Awards may, in the discretion of the Board or the Committee, be granted either alone or in addition to, in tandem with, or in substitution for any other Award or any award granted under any other plan of the Company or any Affiliate.  Awards granted in addition to or in tandem with other Awards, or in addition to or in tandem with awards granted under any other plan of the Company or any Affiliate, may be granted either at the same time or at a different time from the grant of such other Awards or awards.

	  
	  
	  
	  
	  
	  

	  
	  
	 (iii)
	  
	 FORMS OF PAYMENT UNDER AWARDS.  Subject to the terms of the Plan and of any applicable Award Agreement, payments or transfers to be made by the Company or an Affiliate upon the grant, exercise, or payment of an Award may be made in such form or forms as the Board or the Committee shall determine, including, without limitation, cash, Shares, other securities other Awards, or other property, or any combination thereof, and may be made in a single payment or transfer, in installments, or on a deferred basis, in each case in accordance with rules and procedures established by the Board or the Committee.  Such rules and procedures may include, without limitation, provisions for the payment or crediting of reasonable interest on installment or deferred payments or the grant or crediting of Dividend Equivalents in respect of installment or deferred payments.

	  
	  
	  
	  
	  
	  

	  
	  
	 (iv)
	  
	 LIMITS ON TRANSFER OF AWARDS.  No Award (other than Released Securities), and no right under any such Award, shall be assignable, alienable, saleable, or transferable by a Participant otherwise than by will or by the laws of descent and distribution; provided, however, that, if so determined by the Board or the Committee, a Participant may, in the manner established by the Board or the Committee, (a) designate a beneficiary or beneficiaries to exercise the rights of the Participant, and to receive any property distributable, with respect to any Award upon the death of the Participant or (b) transfer any Award other than an Incentive Stock Option for bona fide estate planning purposes.  Each Award, and each right under any Award, shall be exercisable, during the Participant's lifetime, only by the Participant, a permitted transferee or, if permissible under applicable law, by the Participant's guardian or legal representative.  No Award (other than Released Securities), and no right under any such Award, may be pledged, alienated, attached, or otherwise encumbered, and any purported pledge, alienation, attachment, or encumbrance thereof shall be void and unenforceable against the Company or any Affiliate.

	  
	  
	  
	  
	  
	  

	  
	  
	 (v)
	  
	 TERM OF AWARDS.  The term of each Award shall be for such period as may be determined by the Board or the Committee; provided, however, that in no event shall the term of any Incentive Stock Option exceed a period of ten years from the date of its grant.

	  
	  
	  
	  
	  
	  

	  
	  
	 (vi)
	  
	 PER-PERSON LIMITATION ON AWARDS.  The number of Shares with respect to which Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units and other Awards may be granted under the Plan to an individual Participant in any one fiscal year of the Company shall not exceed ____2% of the outstanding___ Shares, subject to adjustment as provided in Section 4(b).  The maximum fair market value of payments to an individual Participant under Performance Awards in any one fiscal year of the Company shall not exceed $_1,000,000_.

	  
	  
	  
	  
	  
	  

	  
	  
	 (vii)
	  
	 SHARE CERTIFICATES.  All certificates for Shares or other securities delivered under the Plan pursuant to any Award or the exercise thereof shall be subject to such stop transfer orders and other restrictions as the Board or the Committee may deem advisable under the Plan or the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon which such Shares or other securities are then listed, and any applicable federal or state securities laws, and the Board or the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions.
 

	 SECTION 7.   AMENDMENT AND TERMINATION

	  
	  
	  
	  
	  
	  

	 Except to the extent prohibited by applicable law and unless otherwise expressly provided in an Award Agreement or in the Plan:

	  
	  
	  
	  
	  
	  

	  
	 (a)
	 AMENDMENTS TO THE PLAN.  The Board may amend, alter, suspend, discontinue, or terminate the Plan, including, without limitation, any amendment, alteration, suspension, discontinuation, or termination that would impair the rights of any Participant, or any other holder or beneficiary of any Award theretofore granted, without the consent of any share owner, Participant, other holder or beneficiary of an Award, or other Person.

	  
	  
	  
	  
	  
	  

	  
	 (b)
	 AMENDMENTS TO AWARDS.  The Board and the Committee may waive any conditions or rights under, amend any terms of, or amend, alter, suspend, discontinue, or terminate, any Awards theretofore granted, prospectively or retroactively, without the consent of any Participant, other holder or beneficiary of an Award.

	  
	  
	  
	  
	  
	  

	  
	 (c)
	 ADJUSTMENTS OF AWARDS UPON THE OCCURRENCE OF CERTAIN UNUSUAL OR NONRECURRING EVENTS.  Except as provided in the following sentence, the Board and the Committee shall be authorized to make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including, without limitation, the events described in Section 4(b) hereof) affecting the Company, any Affiliate, or the financial statements of the Company or any Affiliate, or of changes in applicable laws, regulations, or accounting principles, whenever the Board or the Committee determines that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits or potential 
 benefits to be made available under the Plan.  In the case of any Award that is intended to qualify as performance-based compensation for purposes of Section 162(m) of the Code, neither the Board nor the Committee shall have authority to adjust the Award in any manner that would cause the Award to fail to meet the requirements of Section 162(m).

	  
	  
	  
	  
	  
	  

	  
	 (d)
	 CORRECTION OF DEFECTS, OMISSIONS, AND INCONSISTENCIES.  The Board and the Committee may correct any defect, supply any omission, or reconcile any inconsistency in the Plan or any Award in the manner and to the extent it shall deem desirable to carry the Plan into effect.

	  
	  
	  
	  
	  
	  

	 SECTION 8.   GENERAL PROVISIONS

	  
	  
	  
	  
	  
	  

	  
	 (a)
	 NO RIGHTS TO AWARDS.  No Employee, Participant or other Person shall have any claim to be granted any Award under the Plan, and there is no obligation for uniformity of treatment of Employees, Directors, Consultants, other holders or beneficiaries of Awards under the Plan.  The terms and conditions of Awards need not be the same with respect to each recipient.

	  
	  
	  
	  
	  
	  

	  
	 (b)
	 DELEGATION.  The Board and the Committee may delegate to one or more officers or managers of the Company or any Affiliate, or a committee of such officers or managers, the authority, subject to such terms and limitations as the Board or Committee shall determine, to grant Awards to, or to cancel, modify, waive rights with respect to, alter, discontinue, suspend, or terminate Awards held by Employees, Consultants, or other holders or beneficiaries of Awards under the Plan who are not officers or directors of the Company for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, and who also are not "covered employees" for purposes of Section 162(m) of the Code.

	  
	  
	  
	  
	  
	  

	  
	 (c)
	 WITHHOLDING.  The Company or any Affiliate shall be authorized to withhold from any Award granted or any payment due or transfer made under any Award or under the Plan the amount (in cash, Shares, other securities, other Awards, or other property) of withholding taxes due in respect of an Award, its exercise, or any payment or transfer under such Award or under the Plan and to take such other action as may be necessary in the opinion of the Company or Affiliate to satisfy all obligations for the payment of such taxes.

	  
	  
	  
	  
	  
	  

	  
	 (d)
	 NO LIMIT ON OTHER COMPENSATION ARRANGEMENTS.  Nothing contained in the Plan shall prevent the Company or any Affiliate from adopting or continuing in effect other or additional  compensation arrangements, and such arrangements may be either generally applicable or applicable only in specific cases. 

	  
	  
	  
	  
	  
	  

	  
	 (e)
	 NO RIGHT TO EMPLOYMENT.  The grant of an Award shall not be construed as giving a Participant the right to remain an employee, director or consultant of the Company or any Affiliate.  Further, the Company or an Affiliate may at any time terminate the service of any employee, director or consultant, free from any liability, or 
 any claim under the Plan, unless otherwise expressly provided in the Plan or in any Award Agreement.

	  
	  
	  
	  
	  
	  

	  
	 (f)
	 GOVERNING LAW.  The validity, construction, and effect of the Plan and any rules and regulations relating to the Plan shall be determined in accordance with the laws of the State of Nevada and applicable federal law.

	  
	  
	  
	  
	  
	  

	  
	 (g)
	 SEVERABILITY.  If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction, or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Board or the Committee, such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of the Board or the Committee, materially altering the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction, Person, or Award, and the remainder of the Plan and any such Award shall remain in full force and effect.

	  
	  
	  
	  
	  
	  

	  
	 (h)
	 NO TRUST OR FUND CREATED.  Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any Affiliate and a Participant or any other Person.  To the extent that any Person acquires a right to receive payments from the Company or any Affiliate pursuant to an Award, such right shall be no greater than the right of any unsecured general creditor of the Company or any Affiliate.

	  
	  
	  
	  
	  
	  

	  
	 (i)
	 NO FRACTIONAL SHARES.  No fractional Shares shall be issued or delivered pursuant to the Plan or any Award, and the Board and the Committee shall determine whether cash, other securities, or other property shall be paid or transferred in lieu of any fractional Share, or whether such fractional Shares of any rights thereto shall be canceled, terminated, or otherwise eliminated.

	  
	  
	  
	  
	  
	  

	  
	 (j)
	 HEADINGS.  Headings are given to the Sections and subsections of the Plan solely as a convenience to facilitate reference.  Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof.

 

SECTION 9.   EFFECTIVE DATE OF THE PLAN
 

 Subject to the approval of the shareholders of the Company, the Plan shall be effective February 16_, 2016 (the "Effective Date"); provided, however, that to the extent that Awards are granted under the Plan before its approval by shareholders, the Awards will be contingent on approval of the Plan by the shareholders of the Company at an annual meeting, special meeting, or by written consent.
 

 SECTION 10.  TERM OF THE PLAN
 

 

 No Award shall be granted under the Plan more than 10 years after the Effective Date.  However, unless otherwise expressly provided in an applicable Award Agreement, any Award theretofore granted may extend beyond such date, and the authority of the Board and the Committee to amend, alter, adjust, suspend, discontinue, or terminate any such Award, or to waive any conditions or rights under any such Award, and the authority of the Board to amend the Plan, shall extend beyond such date.

 

 

 

 The foregoing 2016 Equity Incentive Plan was duly adopted and approved by the Board of Directors on February 16, 2016, effective February 16, 2016. 
 

 

 American BriVision (Holding) Corporation, 
 

 

 

 By:___/s/ Eugene Jiang_____________
 SecretaryExhibit 10.1

 

BLUE SPHERE CORPORATION

 

SECURITIES SUBSCRIPTION AGREEMENT

 

THIS SECURITIES SUBSCRIPTION AGREEMENT
(this “Agreement”), dated as of February __, 2016, by and between Blue Sphere Corporation, a Nevada corporation
(the “Company”), and the undersigned subscriber (the “Subscriber”).

 

WHEREAS, the Company and Subscriber
are executing and delivering this Agreement in reliance upon an exemption from securities registration afforded by the provisions
of Section 4(2) and/or Regulation D (“Regulation D”) promulgated by the United States Securities and Exchange
Commission (the “SEC”) under the Securities Act of 1933, as amended (the “Securities Act”);
and

 

WHEREAS, this Agreement has been
provided to the Subscriber in connection with a private offering (the “Offering”) of One Million Nine Hundred
Twenty-Five Thousand U.S. Dollars (USD $1,925,000) of the Company’s shares of common stock, par value $0.001 per share (“Common
Stock”), priced at USD $0.055 per share (the “Share Purchase Price”), and 5-year warrants to purchase
shares of Common Stock (each whole warrant, a “Warrant” and collectively, the “Warrants”)
in an amount equal to fifty percent (50%) of the number of shares of Common Stock so purchased by the Subscriber (such shares issuable
pursuant to each Warrant, the “Warrant Shares”, together with the shares of Common Stock subscribed for hereunder
and each Warrant, the “Securities”).

 

NOW, THEREFORE, in consideration
of the mutual covenants and other agreements contained in this Agreement, the Company and Subscriber hereby agree as follows:

 

1.           
Purchase and Sale of the Securities.

 

(a)         
Upon the terms and subject to the conditions set forth in this Agreement and in consideration of the subscription amount
delivered by the Subscriber to the Company as set forth on the signature page hereof (the “Subscription Amount”),
the undersigned Subscriber agrees to purchase, and the Company agrees to sell and issue at the Closing:

 

(i)          
a number of shares of Common Stock (“Purchased Shares”) determined based on dividing the Subscription
Amount by the Share Purchase Price; and

 

(ii)          a Warrant to purchase up to fifty percent (50%) of the number of shares of Common Stock purchased by the Subscriber hereunder,
at an exercise price of ten cents ($0.10) per share and in accordance with all other such terms set forth in the Warrant, the form
of which is attached hereto as Exhibit A.

 

(b)         
The Subscriber and the Company agree that the Subscription Amount shall be paid by or on behalf of the Subscriber by wire
payable as described below, and is subject to receipt by the Company (the date such payment is received by the Company, the
“Closing”). The Closing is subject to the Company’s receipt of an Agreement and Warrant signed by the
Subscriber, and the Company’s acceptance of the same as evidenced by its execution of this Agreement, such acceptance being
in the Company’s sole discretion. The date of the Closing occurring in connection with the Subscriber is referred to herein
as the “Closing Date.”

 

    	1

    	 

    

 

(c)         
All funds received to purchase the Securities will be deposited in an interest-bearing escrow account at U.S. Bank National
Association. The wiring instructions are as follows:

	 	 
	U.S. BANK NATIONAL ASSOCIATION
	CORPORATE TRUST
	ST. PAUL, MN
	ABA#:	091000022
	BNF:	U.S. BANK N.A.
	A/C#:	180121167365
	FOR:	Blue Sphere & Maxim Grp Escrow
	SEI#:	278899000
	ATTN:	TFM

 

2.           Subscriber Representations and Warranties. Subscriber hereby represents and warrants to and agrees with the Company that:

 

(a)         
Standing of Subscriber. Subscriber has the legal capacity and power to enter into this Agreement.

 

(b)      
  Authorization and Power. Subscriber has the requisite power and authority to enter into and perform this
Agreement and to advance the Subscription Amount and accept the Warrant. The execution, delivery and performance of this
Agreement by the Subscriber, and the consummation by the Subscriber of the transactions contemplated hereby, have been duly
authorized by all necessary action, and no further consent or authorization of Subscriber is required. This Agreement has
been duly authorized, executed and delivered by the Subscriber and constitutes, or shall constitute, when executed and
delivered, a valid and binding obligation of the Subscriber, enforceable against Subscriber in accordance with the terms
hereof.

 

(c)         
Information on Subscriber. Subscriber is, and reasonably believes it will be at the time of exercise of the Warrant, an
“accredited investor,” as such term is defined in Regulation D promulgated by the SEC under the 1933 Act, is experienced
in investments and business matters, has made investments of a speculative nature and has purchased securities of United States
publicly-owned companies in private placements in the past and, with its representatives, has such knowledge and experience in
financial, tax and other business matters as to enable the Subscriber to utilize the information made available by the Company
to evaluate the merits and risks of, and to make an informed investment decision with respect to, the proposed purchase, which
the Subscriber hereby agrees represents a speculative investment. The Subscriber has the authority and is duly and legally qualified
to purchase and own the Securities. The Subscriber acknowledges that an investment in the Company’s Securities is highly
speculate and the Subscriber is able to bear the risk of such investment for an indefinite period and to afford a complete loss
thereof.

 

(d)        
Purchase of Securities. The Subscriber will purchase the Securities for its own account for investment and not with a view
toward, or for resale in connection with, the public sale or any distribution thereof in violation of the Securities Act or any
applicable state securities law, and has no direct or indirect arrangement or understandings with any other person or entity to
distribute or regarding the distribution of shares of Common Stock or the Warrant Shares.

 

(e)         
Compliance with Securities Act. The Subscriber understands and agrees that the Securities have not been registered under
the 1933 Act or any applicable state securities laws by reason of their issuance in a transaction that does not require registration
under the 1933 Act (based in part on the accuracy of the representations and warranties of Subscriber contained herein), and that
such Securities must be held indefinitely unless a subsequent disposition is registered under the 1933 Act or any applicable state
securities laws or is exempt from such registration.

 

    	2

    	 

    

 

(f)          
Share Legend. The Securities shall bear the following or similar legend:

THE SECURITIES WHICH ARE REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT
BE SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE DISPOSED OF UNTIL A REGISTRATION STATEMENT WITH RESPECT THERETO IS DECLARED EFFECTIVE
UNDER SUCH ACT, OR THE COMPANY RECEIVES AN OPINION OF COUNSEL FOR THE COMPANY THAT AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF SUCH ACT IS AVAILABLE.

 

(g)         
Communication of Offer. At no time was Subscriber presented with or solicited by any leaflet, newspaper or magazine article,
radio or television advertisement, or any other form of general advertising or solicited or invited to attend a promotional meeting
otherwise than in connection and concurrently with such communicated offer.

 

(h)         
No Governmental Endorsement. Notwithstanding representations made by the Company in paragraph 3(i) below, Subscriber understands
that no United States federal or state agency or any other governmental or state agency has passed on or made recommendations or
endorsement of the Securities, or the suitability of the investment in the Securities, nor have such authorities passed upon or
endorsed the merits of the offering of the Securities.

 

(i)          
Receipt of Information. Subscriber, based in part on representations made by the Company in paragraphs 3(i) and 3(j) below,
believes it has received all the information it considers necessary or appropriate for deciding whether to invest the Subscription
Amount in the Company and to accept the Securities. Subscriber further represents that through its representatives it has had an
opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Securities
and the business, properties and financial condition of the Company and to obtain additional information (to the extent the Company
possessed such information or could acquire it without unreasonable effort or expense) necessary to verify the accuracy of any
information furnished to it or to which it had access.

 

(j)          
No Market Manipulation. Between the dates of January 30, 2016 (the date Subscriber received notification from Maxim Group
LLC that it may be in receipt of Confidential Information) and Closing, Subscriber has not taken, and will not take, directly or
indirectly, any action designed to, or that might reasonably be expected to, cause or result in stabilization or manipulation of
the price of Common Stock, to facilitate the sale or resale of the Shares or affect the price at which the Shares may be issued
or resold.

 

(k)         
Risk of Loss. The Subscriber acknowledges that there may be no market for the Securities and that the Subscriber may not
be able to sell or dispose of the Securities; the Subscriber has liquid assets sufficient to assure that the Subscription Amount
of the Securities will cause no undue financial difficulties and that, after purchasing the Securities the Subscriber will be able
to provide for any foreseeable current needs and possible personal contingencies. The Subscriber is financially able to bear the
economic risk of this investment, including the ability to hold the Securities indefinitely or to afford a complete loss of the
Subscriber’s investment in the Securities.

 

(l)          
If the Subscriber is a partnership, corporation, trust, or other entity, (i) the Subscriber represents and warrants that
it was not organized or reorganized for the specific purpose of acquiring the Securities, (ii) the Subscriber has the full power
and authority to execute this Agreement on behalf of such entity and to make the representations and warranties made herein on
its behalf, and (iii) this investment in the Company has been affirmatively authorized, if required, by the governing board of
such entity and is not prohibited by the governing documents of the entity.

 

    	3

    	 

    

 

3.           
Company Representations and Warranties. The Company represents and warrants to, and agrees with, Subscriber that:

 

(a)         
Due Incorporation. The Company is a corporation duly incorporated, validly existing and in good standing under the
laws of the State of Nevada and has the power and authority to carry out its business as not conducted and as proposed to be conducted

 

(b)         Authority; Enforceability. This Agreement and the Subscriber’s Warrant (the “Transaction Documents”)
have been or will be duly authorized, executed and delivered by the Company and are the valid and binding agreements of the Company,
enforceable in accordance with their terms, except as may be limited by bankruptcy, insolvency, moratorium or other similar laws
affecting the enforcement of creditors’ rights generally, or principles of equity. The Company has full corporate power and
authority necessary to enter into and deliver the Transaction Documents and to perform its obligations thereunder.

 

(c)         
Capitalization and Voting Rights.  Information concerning the Company’s capitalization and securities
is contained in the Company’s Annual Report on Form 10-K, filed with the SEC on January 13, 2016. As of January 28, 2016,
there were 182,317,675 shares of Common Stock issued and outstanding. All outstanding shares of the Company’s capital stock
have been, or upon issuance will be, validly issued, fully paid and non-assessable. All securities of the Company have been issued
in compliance with the Securities Act and applicable state and foreign securities laws

 

(d)         
Consents. No consent, approval, authorization or order of any court, governmental agency or body having jurisdiction
over the Company or of any other person is required for the execution by the Company of the Transaction Documents and compliance
and performance by the Company of its obligations hereunder and thereunder, including, without limitation, the issuance of the
Securities.

 

(e)         
No Violation or Conflict. Neither the issuance of the Securities nor the performance of the Company’s obligations
under the Transaction Documents will:

 

(i)          
violate, conflict with, result in a breach of, or constitute a default (or an event which with the giving of notice or the
lapse of time or both would be reasonably likely to constitute a default) under (a) the charter or bylaws of the Company, (b) any
decree, judgment, order or determination applicable to the Company of any court, governmental agency or body having jurisdiction
over the Company or over the properties or assets of the Company, or (iii) any contract or agreement to which the Company is a
party or is bound; or

 

(ii)         
result in the creation or imposition of any lien, charge or Encumbrance upon the Shares except in favor of Subscriber as
described herein;

 

    	4

    	 

    

 

(f)         
Shares of Common Stock and the Warrant Shares. Upon issuance, shares of Common Stock and the Warrant Shares:

 

(i)          
shall be free and clear of any security interests, liens, pledges, claims or other encumbrances, subject only to restrictions upon
transfer under the Securities Act and any applicable state securities laws;

 

(ii)         
shall have been duly and validly issued, fully paid and non-assessable; and

 

(iii)        
will not subject the holders thereof to personal liability by reason of being such holders.

 

(g)        
No General Solicitation. Neither the Company, nor any of its affiliates, nor any person or entity acting on its or
their behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D under
the Securities Act) in connection with the offer or sale of the Securities.

 

(h)        
Investment Company. The Company is not an “investment company” within the meaning of the Investment Company
Act of 1940, as amended.

 

(i)         
SEC Filings. To the best of the Company’s knowledge, and to the extent not previously disclosed in the Company’s
current filings with the SEC, the Company has filed all required forms, reports and documents with the SEC, each of which has complied
in all material respects with all applicable requirements of the Securities Act and the Securities Exchange Act of 1934, as amended
and the rules and regulations promulgated thereunder, each as in effect on the dates such forms, reports, and documents were filed.
None of the Company’s SEC filings (the “SEC Filings”), including any financial statements or schedules
included or incorporated by reference therein, contained, when filed, any untrue statement of a material fact or omitted to state
a material fact required to be stated or incorporated by reference therein or necessary in order to make the statements therein,
in light of the circumstances under which they were made, not misleading. The financial statements of the SEC Filings complied
as to form in all material respects with applicable accounting requirements and the published rules and regulations of the SEC
in respect thereof and fairly present, in conformity with GAAP on a consistent basis (except as may be indicated in the notes thereto),
the financial position of the Company as of the dates thereof and its results of operations and changes in financial position for
the periods then ended (subject, in the case of the unaudited interim financial statements, to normal year-end adjustments). Except
as and to the extent disclosed in the SEC Filings, since the date of the latest financial statement included in the Company’s
most recently filed annual report, there has not been any event, occurrence or development which does or could reasonably be expected
to have, individually or in the aggregate, a material adverse effect on the Company’s business, prospects, condition (financial
or otherwise), affairs, operations, assets or properties.

 

(j)         
Full Disclosure. No representation or warranty in this Agreement, in the SEC Filings or in any written certificate,
schedule, statement or other document prepared by or on behalf of the Company for the Subscriber and furnished by the Company to
the Subscriber pursuant to this Agreement contains any untrue statement of a material fact or omits to state any material fact
required to be stated herein or therein or necessary to make the statements herein or therein not misleading in light of the circumstances
under which they were made. To the Company’s knowledge, there is no material fact or information, individually or in
the aggregate, relating to the business, prospects, condition (financial or otherwise), affairs, operations, assets or properties
of the Company that has not been disclosed to the Subscriber by the Company and which is reasonably necessary to enable the Subscriber
to make its investment decision.

 

    	5

    	 

    

 

4.           
Broker’s Commission/Finder’s Fee. Each party hereto represents to the other that there are no parties entitled
to receive fees, commissions, finder’s fees, due diligence fees or similar payments in connection with the consummation of
the transactions contemplated hereby, other than those fees payable by the Company pursuant to a Letter of Engagement between the
Company and Maxim Group, LLC, as placement agent, dated October 14, 2015, the terms of which are summarized in the Offering Summary.

 

5.          
Covenants Regarding Indemnification. Each party hereto agrees to indemnify, hold harmless, reimburse and defend the other
party and the other party’s officers, directors, agents, counsel, affiliates, members, managers, control persons, and principal
shareholders, as applicable, against any claim, cost, expense, liability, obligation, loss or damage (including reasonable legal
fees) of any nature, incurred by or imposed upon the indemnified party or any such person which results, arises out of or is based
upon (i) any breach of any representation or warranty by the indemnifying party in this Agreement or (ii) any breach or default
in performance by the indemnifying party of this Agreement or any covenant or undertaking to be performed by the indemnifying party
hereto.

 

6.           
Registration Covenants. The Company shall:

 

(a)         
Take all actions to permit the Subscriber to sell all of the Purchased Shares and Warrant Shares (the “Total Shares”)
pursuant to Rule 144, including, but not limited to, making and keeping public information available, and filing all required
SEC reports and other documents in a timely manner.

 

(b)         
In addition, within sixty (60) days after the date hereof (“Filing Date”), the Company shall use its
reasonable commercial efforts to prepare and file with the SEC a registration statement covering the Total Shares for an offering
to be made on a continuous basis pursuant to Rule 415 (the “Registration Statement”). The Company shall
use its reasonable commercial efforts to cause the Registration Statement to be declared effective under the Securities Act as
promptly as possible after the filing thereof. The Company shall use its reasonable commercial efforts to keep the Registration
Statement continuously effective under the Securities Act until the date which is the earlier date of when (i) the Warrants
have been fully exercised or have terminated and all of the Total Shares have been sold by the Subscriber, or (ii) the Warrants
have been fully exercised or have terminated and all of the Total Shares may be sold immediately without registration under the
Securities Act and without volume restrictions pursuant to Rule 144(k), as determined by the counsel to the Company pursuant
to a written opinion letter to such effect addressed and acceptable to the Company’s transfer agent and the Subscriber.

 

(c)         
If, after the date hereof and prior to the date the Registration Statement under subsection 6(b) above becomes effective,
the Company proposes to register any shares of Common Stock under the Securities Act for sale to the public, whether for its own
account or for the account of other security holders or both, the Company will cause the Total Shares to be included with the securities
to be covered by the registration statement proposed to be filed by the Company.

 

    	6

    	 

    

 

7.           
Miscellaneous.

 

(a)         
Notices. All notices, requests, demands, claims and other communications hereunder shall be in writing and shall
be delivered by certified or registered mail (first class postage pre-paid), guaranteed overnight delivery, or email or facsimile
transmission if such transmission is confirmed, by certified or registered mail (first class postage pre-paid) or guaranteed overnight
delivery, to the following addresses (or to such other addresses which such party shall subsequently designate in writing to the
other party):

 

(i)         
if to the Company:

	 	 	 
	 	 	 
	 	 	 

 

with a copy to:

	 	 	 
	 	 	 
	 	 	 

 

(ii)         If to Subscriber, to:

	 	 	 
	 	 	 
	 	 	 

 

(b)         
Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the
subject matter hereof and may be amended only by a writing executed by both parties hereto. Neither the Company nor Subscriber
has relied on any representations not contained or referred to in this Agreement and the Offering Summary delivered herewith.

 

(c)         
Counterparts/Execution. This Agreement may be executed in any number of counterparts and by the different signatories
hereto on separate counterparts, each of which, when so executed, shall be deemed an original, but all such counterparts shall
constitute but one and the same instrument. This Agreement may be executed by email transmission, PDF, electronic signature or
other similar electronic means with the same force and effect as if such signature page were an original thereof.

 

(d)         
Law Governing this Agreement and Disputes. This Agreement shall be governed by and construed in accordance with the
laws of the State of Nevada without regard to principles of conflicts of laws. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY
RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION
HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY. 

 

The parties
to this Agreement shall submit all disputes arising under the Transaction Documents to arbitration in New York, New York before
a single arbitrator of the American Arbitration Association (the “AAA”). The arbitrator shall be selected by
application of the rules of the AAA, or by mutual agreement of the parties, except that such arbitrator shall be an attorney admitted
to practice law in the State of New York. No party hereto will challenge the jurisdiction or venue provisions as provided in this
section. Nothing in this section shall limit the Subscriber’s right to obtain an injunction for a breach of this Agreement
from a court of law. Any injunction obtained shall remain in full force and effect until the arbitrator fully adjudicates the dispute.

 

    	7

    	 

    

 

(e)         
Severability. In the event that any provision of this Agreement or any other agreement delivered in connection herewith
is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the
extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision
which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of
any agreement.

 

(f)         
Counsel; Ambiguities. Each party and its counsel have participated, or have had the opportunity to participate, fully
in the review of this Agreement and the other Transaction Documents. The parties understand and agree that any rule of construction
to the effect that ambiguities are to be resolved against the drafting party shall not apply in interpreting the Transaction Documents.

 

(g)        
Expenses. At Closing, the Company will pay Subscriber (or a related party designated by Subscriber, such as the General
Partner of Subscriber) $5,000 to offset Subscriber’s legal and due diligence expenses associated with the Offering. The Company
and the Subscriber will each bear their own additional legal and other expenses with respect to the Offering.

 

(h)         
Headings. The headings of the various sections and paragraphs of this Agreement have been inserted only for the purposes
of convenience; such captions are not a part of this Agreement and shall not be deemed in any manner to modify, explain, enlarge
or restrict any of the provisions of this Agreement.

 

[Signature Page Follows]

 

    	8

    	 

    

 

IN WITNESS WHEREOF, the parties have caused this Agreement
to be executed on and as of the date set forth above.

 

THE COMPANY:

 

	 	BLUE SPHERE CORPORATION	 
	 	 	 	 
	 	By:	 	 
	 	Name:	Shlomi Palas	 
	 	Title:	Chief Executive Officer	 

 

SUBSCRIBER:

 

The undersigned signatories hereby certify
that he/she has read and understands the Transaction Documents, and that the representations made by the undersigned in said documents
are true and accurate.

 

Contact information

 

	Address:	 	 
	 	 	 
	 	 	 
	 	 	 
	Phone Number:	 	 
	Fax Number:	 	 
	Email:	 	 

 

	Subscription Amount:	$ 	 	 (USD)
	 	 	 	 
	Purchased Shares:	 	 	 
	 	 	 	 
	Name of Subscriber:	 	 	 

 

	 	(signature)	 

 

	 	By:	 	 
	 	 	 	 
	 	Title:		 
	 	 	 	 
	 	Dated: February ______, 2016	 

 

	Taxpayer
    ID:	 	 

 

[Signature Page to Securities Subscription
Agreement]

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