Document:

Exhibit 10.1

 

Certain identified information has been
excluded from this Exhibit 10.1 because it is both not material and is the type that the registrant treats as private or confidential.

 

Trademark License Agreement

 

Barcelona, November 20th 2021

 

I. Parties

 

Party of the first part,

LEO MESSI MANAGEMENT SL, a Company
established and existing under the laws of Spain, with registered office at Avenida Diagonal, 682, 9o 1a,
08034, Barcelona, CIF B65073694 and duly registered before the Commercial Registry of Barcelona, herein represented by Mr. [__],
in his capacity as Sole Manager of LEO MESSI MANAGEMENT SL (hereinafter referred to as “LMM”).

 

Party of the second part,

MGOTEAM 1 LLC, a Delaware limited liability
Company, with registered office at 30 Wall Street, 12th Floor, New York, NY 10005, herein represented by Mr. Maximiliano Ojeda,
acting in his capacity as Manager of such company (hereinafter referred to as “MGO”).

 

The companies MGO and LMM shall be hereinafter jointly
referred to as the “Parties”, and individually referred to as the “Party”.

 

II.  Whereas

 

1.  LMM is the exclusive
holder worldwide of all commercial and advertising rights to the image, voice, name and signature (hereinafter the “Image
Rights”) of the professional soccer player Lionel Andres Messi [__] (hereinafter the “Player”) to the extent
necessary to negotiate, manage and perform agreements related to the assignment of the Image Rights and the provision of advertising
and promotional services on the part of the Player. The trademarks and trademark applications held by LMM to be applied to this
license are those listed in Schedule 1 which constitutes an integral part hereof (hereinafter referred to as the “Trademarks”).

 

2.  On October 18th, 2018, the Parties
entered into a trademark license agreement pursuant to which a line of apparel products, inspired by the Player and the Trademarks, was
developed.

 

3.  Such agreement, in accordance
with the document dated on 15th November, was terminated by mutual agreement of the Parties since the conditions of the agreement
did not reflect the circumstances of the business and, consequently, many of its terms and conditions, especially the payment obligations
binding MGO, became impossible for the latter to comply with.

 

4.  Owing to the previous
statement, it is the Parties intention to subscribe a new agreement which may reflect accurately the reality of the commercial operation
of this license, establishing obligations, especially payment obligations, that are in line with the aforementioned circumstances and
which shall permit MGO to fully comply with them.

 

    	 	 	 

     

    

 

Therefore, in consideration of the mutual agreements
and the terms and conditions established in this Trademark License Agreement (hereinafter the “Agreement” or “Contract”),
the Parties hereby agree on the following, to wit:

 

III.  Terms

 

1.  Purpose

 

1.1  In accordance with this Agreement,
LMM hereby grants to MGO a worldwide non-exclusive license, in order to use the Trademarks with the purpose of developing, manufacturing,
trading and promoting the Products, strictly subject to the scope, terms and conditions set forth herein.

 

1.2  The territory applicable to
the extent of this Agreement shall be the whole world (hereinafter the “Territory”).

 

1.3  This Agreement is granted non-exclusively
in the Territory. To this extent, throughout the term of duration hereof, LMM shall be entitled to authorize, with no limits whatsoever,
any brand cooperation or other commercial actions between LMM and the Player, using the Trademarks with other brands of clothing, textiles
or Trademarks that trade any of the Products included in Schedule 2 of this Agreement. Likewise, LMM shall be entitled to authorize,
with no limits whatsoever, the manufacturing and trade of brands of clothing, textiles or Trademarks that trade any of the Products included
in Schedule 2 of this Agreement on the part of any third parties, by means of the “cobranded” system, together with Messi's
trademark.

Notwithstanding the above, LMM shall not be entitled
to sub-license to any third parties any licenses subject matter of this Agreement, without MGO's prior written consent.

It is hereby expressly stated that MGO and/or the
sub-licensees approved by both Parties shall be the only ones authorized to manufacture and market Messi's line of products subject matter
hereof, likewise, only MGO shall be authorized to manage The Messi Store.

 

1.4  LMM
hereby agrees that MGO shall be entitled to sublicense the rights obtained by means of this Agreement to any appointed third parties
or partners involved in the manufacturing, promotion, sale, distribution or marketing of the Products. The terms and conditions of such
sublicenses shall always be agreed upon with LMM and shall always be subscribed by both MGO and LMM as a requirement for the effectiveness
of such sublicenses. To this extent, it is hereby expressly made known, that LMM shall be entitled to refuse, with no need to allege
any cause whatsoever, any sublicense proposal submitted by MGO, without MGO being entitled in any case to allege breach of contract or
claim any damages as a consequence of such refusal.

Any sublicense entered into by any of the Parties
individually, without the intervention of the other Party, shall have no legal effect whatsoever, and may be challenged by the Party that
has not taken part in such execution.

 

1.5  LMM
accepts that MGO may submit proposals for collaborations with third party brands, and the conditions of such collaborations shall always
be agreed upon with LMM. The agreements arising from such collaborations shall always be executed by both MGO and LMM as a requirement
for effectiveness.

To this extent, it is hereby expressly made known,
that LMM shall be entitled to refuse, with no need to allege any cause whatsoever, any collaborations with third party brands submitted
by MGO, without MGO being entitled in any case to allege breach of contract or claim any damages as a consequence of such refusal.

 

    	 	 	 

     

    

 

Any collaboration agreement entered into by MGO individually,
without the intervention of LMM, shall have no legal effect whatsoever, and may be challenged by LMM.

 

1.6  Any
and all subcontractors or sub-licensees shall acknowledge, be bound, and accept their full liability in connection with the proper use
of the Trademarks. Since MGO shall manage and administer the sublicenses to be executed, MGO shall be jointly and severally liable together
with the subcontractors or sub-licensees for the wrongful use of the Trademarks, or the violations to the provisions set forth herein
made by these third parties. Therefore, MGO and its subcontractors or sub-licensees shall be jointly and severally liable before LMM
for the use of the Trademarks, and shall indemnify and hold LMM and the Player harmless from any and all liabilities, damages, costs
and expenses arising from their breach of duty. All agreements entered into with any subcontractors and/ or sub-licensees, shall remain
in full force in connection with LMM in the event this Agreement expires or is terminated on any grounds whatsoever.

 

1.7  MGO
acknowledges and agrees that LMM has entered into prior agreements with third parties that license the image Rights and Trademarks in
order to promote certain textile products, accessories and other sports-related products, both on an exclusive and non-exclusive basis,
all of which are listed in both Schedules 2 and 3; the following are among those entered into this date: Adidas, Hard Rock Cafe, SikSilk
and SVG.

Likewise, LMM is developing a live entertainment show
project to be produced by Cirque Du Soleil, regarding the life of the Player (hereinafter the “CDS Messi Show”). In such project,
Messi shall market merchandise in the categories of products similar to the Products, as long as such products do not include the Trademarks.
Therefore, MGO hereby acknowledges and accepts that the rights granted under this Agreement are limited in connection with such products
and merchandising regarding the CDS Messi Show or any other similar project or entertainment show. Likewise, MGO accepts that LMM and
the Player are fully authorized to renew these previous agreements and extend them in any manner whatsoever, without MGO's consent.

 

1.8   Moreover, MGO hereby
represents and agrees to abide by and be bound by the restrictions, limitations and duties undertaken or to be undertaken by LMM and/
or by the Player with his team, his National Team, and their related present and future sponsors, which can and may develop, market and/or
promote products which might be considered direct or indirect competitors of the Products that are the subject matter of this Agreement,
or of MGO's.

 

2.  Conditions
to develop and manufacture the Products.

 

2.1  Pursuant
to this Agreement and according to the terms and conditions set forth herein, LMM hereby licenses and authorizes MGO, on a non-exclusive
basis, to develop, manufacture, sell and market the Products in accordance with the designs, features, functions, materials, manufacturing,
processes and technical specifications that shall be designed and performed by MGO, and that shall be included, once approved by LMM
in accordance with the terms indicated in this section 2, as part of Schedule 4 of this Agreement (hereinafter the “Products Design”).
The Products Design shall observe and preserve the good name and image, standing and reputation of the Player and of LMM, and it shall
follow, in every case, the rules established in the Trademark Manual attached hereto as Schedule 6.

 

2.2  MGO shall submit to LMM the
Design of each Product it wishes to develop. The draft of the final product should be sent to the following e-mail addresses, indicated
by LMM case by case, for approval, and shall only be considered authorized when such approval is expressly made and sent from any of
the e-mails indicated herein. The term for LMM to issue its opinion shall be fifteen (15) working days following reception of the e-mail
requesting the approval of a certain Product. It is hereby established that the lack of response to a request for approval after the
expiration of the term herein agreed shall imply a rejection of the requested approval. LMM shall use its reasonable discretion in approving
the Product Design. The materials and manufacturing processes detailed in the Product Design submitted by MGO, which are used to manufacture
the Products, as well as their place of origin, shall comply with the highest quality standards of the industry, and, among others, MGO
hereby undertakes that the origin and characteristics of such materials and manufacturing processes shall not affect, directly or indirectly,
the good name and image, standing and reputation of the Player, and of LMM. To this purpose, MGO hereby undertakes to send material samples
of each new product to the address provided by LMM, in order to verify that the aforementioned quality standards are met. Should any
objection arise on the part of LMM, the provisions of section 2.8 herein shall prevail.

 

    	 	 	 

     

    

 

If a design proposed by MGO is not approved, no Product
bearing the rejected design shall be offered for sale, and selling such Products shall be considered a material breach of this Agreement
which shall entitle LMM to early termination as provided in 8.1 (c).

 

2.3  LMM may provide any ideas,
suggestions or modification proposals with respect to the Design of the Products as it may deem reasonable and appropriate in order to
maintain the good name and image, standing and reputation of the Player, and of LMM. MGO shall make its best efforts to take into account
the ideas, suggestions or proposals made by LMM, and therefore implement them in the design of the Products.

 

2.4  Once a Product is expressly
approved by LMM via e-mail, the design of such Product shall be included in Schedule 4 of this Agreement, and MGO shall be entitled to
start manufacturing such Products. After listing a Product in Schedule 4 of this Agreement, MGO shall not make any modifications or changes
to the design of the Products without obtaining again LMM's prior written approval. LMM, in turn, may not make any subsequent changes
to the Products once the Products have been approved.

 

2.5  MGO
shall manufacture the Products in strict compliance with the design of the Products as approved by LMM. Any modification in the manufacture
of the Product shall give LMM the right to contest the sale of such Products, and this circumstance shall not give rise to any claim by
MGO, as set forth in 2.2 in fine.

 

2.6  In addition to the Product
approvals, under the same terms and conditions described in the previous sections, MGO shall submit to LMM's approval all packaging,
labeling and advertising formats of the Products. Likewise, it is of vital importance for LMM that all marketing, advertising or other
campaigns aimed at promoting the Products should be previously approved by LMM, consequently, all the provisions of this section 2 shall
also apply in this case.

 

Quality Control

 

2.7  Notwithstanding
the provisions of Section 2.2, LMM shall have the power to exercise the most extensive quality control over both the Products and the
use of the Trademarks made by MGO and its subcontractors and licensees. Consequently, MGO hereby undertakes to authorize LMM's agents
to inspect MGO's facilities, and MGO shall make all reasonable efforts to obtain access for LMM's agents to inspect the facilities of
third party manufacturers with whom MGO may have engaged pursuant to this Agreement, by means of a previous reasonable written notice,
and during regular working hours.

 

    	 	 	 

     

    

 

2.8  In
the event that LMM may have any objection to any sample provided by MGO in accordance with paragraph 2.6 above, LMM shall give written
notice to MGO providing specific details of such objection, in order to expedite its solution on the part of MGO. Should MGO not receive
any written notice of any objection whatsoever, within fifteen (15) business days after inspection or reception of the sample by LMM,
as applicable, LMM shall be deemed to have approved the Products and other inspected items. In the event that MGO fails to resolve LMM's
objections or ignores them, the Product in dispute may not be released for sale, and, if released for sale, this action shall be considered
a material breach of this Agreement which shall give rise to early termination pursuant to the provisions in 8.1 (c).

 

3.  Conditions
for the operation and advertising of the Products.

 

3.1  MGO
shall be authorized to use, advertise and market the Products, with the purpose of maximizing its distribution and correct implementation
in the Territory, observing simultaneously the good name and image, standing and reputation of the Player and of LMM.

 

3.2  MGO
shall strictly follow the conditions set forth in this Section 3 in connection with the activities related to the advertising of the Products.
Particularly, MGO may broadcast and run various commercial or promotional advertisements through television, press, specialized publications,
product catalogs, billboards or advertising media, and on MGO's websites and social media accounts, as well as on the websites of third
parties authorized by LMM in accordance with this Section 3. All commercials, advertisements or broadcasting activities to be made by
MGO shall have LMM's previous written approval, in accordance to the terms and conditions of subsection 2 above.

When promoting the Products, MGO shall strictly follow
the Communication and Marketing Plan set forth in Schedule 5 of this Agreement, in particular, the Parties agree that regardless the ownership
of the accounts or social networks used by MGO, all content related to this Agreement that is published through them must always be previously
approved in writing by LMM under the terms of section 2 above.

 

3.3  Subject
to the Player's previous engagements and/ or LMM's previous engagements with its sponsors and licensees, LMM shall make sure that the
Player: (a) shall make his best efforts to advertise the sale of the Products; and (b) shall comply with all the promotional duties set
forth in Schedule 7 hereof.

 

3.4  MGO has developed an e-commerce store called The
Messi Store (www.themessistore.com), which also owns the related application. Such store has the sole purpose of promoting and
selling the Products subject matter of this Agreement. All matters related to the content, sales mechanics and advertising of the store
shall always be approved by LMM in accordance to the terms of section 2 above.

 

Since The Messi Store is an official channel of the
Player, it is strictly forbidden to MGO to make on the website, in the application and/or in any other format connected to The Messi Store
any posts referring to the Player's professional activities, including opinion pieces, press articles, live tracking of the Player's games
or any other reference to the Player's personal or sporting life. The Messi Store is solely authorized to post articles and actions connected
with the sale of the Products subject matter hereof.

 

    	 	 	 

     

    

 

As a consequence of the aforementioned, and the commitments
undertaken herein, MGO hereby undertakes to remove the “Blog” section and all its contents from The Messi Store, within 30
days of the execution hereof.

 

Any posts, articles, editorials or information presented
by The Messi Store, in violation of this provision, shall give rise to the immediate termination hereof, due to MGO's exclusive fault,
with no need for any prior notice whatsoever.

 

Upon termination of this Agreement, MGO shall transfer
to LMM the domains and control of both the website and the application, being the database and all other assets resulting from the execution
of this website and its application the property of LMM.

 

3.5  Throughout the term
of this Agreement, the Parties shall negotiate in good faith the conditions under which: (I) the Products should be advertised at www.messi.com,
(ii) The Products may be sold in future Messi retail stores and online (which shall be previously approved by LMM); (iii) The Products
may be sold at on-line stores belonging to the Player' sponsors or other on-line stores. Should the Parties not reach a final agreement
on the aforementioned matters, this shall not constitute a breach of the Agreement nor shall it give rise to any liability whatsoever
on the part of the Parties.

 

3.6  LMM
shall introduce to MGO to the managers of the CDS Messi Show, so that they may jointly discuss which Products may be sold at the CDS Messi
Show. Should MGO not reach a final agreement with CDS Messi Show, such circumstance shall not be deemed as a breach or termination hereof.

 

3.7  LMM
shall be given notice of any changes to the conditions under which the advertising of the Products shall be carried out. Moreover, LMM
shall approve in writing such modifications, in accordance with the terms and conditions of section 2 above.

 

3.8  In
any event, the conditions under which the advertising of the Products shall be carried out, and especially the places and media where
such promotion is made, shall observe the Communications and Marketing Plan established in Schedule 5, and preserve the good name and
image, standing and reputation of the Player and of LMM

 

3.9  The
advertising of the Products, and the distribution of the Images under the terms set forth in this Section 3, may be carried out by MGO
worldwide, subject to the limitations agreed upon herein.

 

4.  Use
of LMM's trademarks.

 

4.1  Throughout
the term of this Agreement, LMM authorizes MGO to use the Trademarks in order to identify the Products and their packaging, under the
terms and conditions set forth in this section 4. The right to use the Trademarks shall include their use for the advertising and sale
of the Products, subject to the terms of this Agreement.

 

4.2  MGO
shall be entitled to use the Trademarks only in the manner in which they are registered, observing their composition, colors and proportions,
and only for the uses related to the Products, which are specified herein. Under no circumstances MGO shall be entitled to use the Trademarks
by introducing any kind of alterations or changes (whether in their composition, colors or proportions), neither shall MGO be entitled
to delete or add any element whatsoever to the

 

    	 	 	 

     

    

 

Trademarks. Moreover, MGO shall not carry out, directly
or indirectly, any action, or fail to carry out any action, neither shall it make or allow to be made any use of the Trademarks which
may discredit LMM, the Player, or any of their products or services, or which may impair the value of the Trademarks in any manner whatsoever.
To this extent, it is also understood that MGO shall display the Trademarks in all packaging, advertising and marketing materials, in
accordance to the provisions of Schedule 5.

 

4.3  As
provided hereinbefore, LMM shall approve the designs and/ or prototypes of the Products, and, in general, it shall approve any other strategic
and relevant decision related to the Products, their packaging and advertising material. For this purpose, before marketing any Product
or packaging material (whether in the Products themselves, or in their packaging or in any other material), MGO shall submit a sample
of such materials to LMM for approval. MGO shall not use any material which may include the Trademarks without the prior express written
approval of LMM, which shall be entitled to propose any suggestions, ideas or amendments to MGO regarding the use of the Trademarks, and
which suggestions shall be implemented by MGO.

 

4.4  LMM,
at its own expense, shall maintain in full force all registrations of the Trademarks and shall process all Trademarks applications pending
registration in the Territory. The Parties hereby agree that failure to register a certain trademark application in a country or certain
trademark classes shall not be deemed as a breach or the Agreement on the part of LMM. In the event the Parties decide to use any trademarks,
slogans, logos or isotypes different to those of the Trademarks, in order to identify the Products, LMM shall be the only party entitled
to register such new trademarks before the Intellectual Property or Trademark Registry, as it may deem appropriate. MGO shall have no
ownership or any other rights whatsoever on these new trademarks or logos to be registered by LLM.

 

4.5  MGO
hereby acknowledges that the Trademarks subject matter of this Agreement have not been registered (and therefore they might not be protected)
in all the countries or territories where the Products shall be marketed, consequently, MGO hereby exempts LMM and/ or the Player of such
circumstance. Specifically, MGO acknowledges that the Trademarks have been registered only in the territories indicated in Schedule 1,
and have been requested in the territories that are also shown in Schedule 1. Notwithstanding the above, LMM shall make its best efforts
to register the Trademarks in the various jurisdictions to be agreed upon by the Parties.

 

5.  Consideration

 

5.1  As
a consideration for the granting of this license and the use and commercial development of the Trademarks, MGO shall pay to LMM a royalty,
net of taxes, of twelve percent (12%) of the Net Sales amount made directly by MGO, or indirectly through its sub-licensees or other systems.
For the purposes hereof, the Parties agree that Net Sales shall mean the gross revenues from all sales of Products made by both MGO and
third party licensees, deducting therefrom (I) indirect taxes (such as VAT); (ii) refunds credited to customers; and (iii) customary cash,
trade and sales discounts and rebates actually taken (hereinafter “Net Sales”). No royalties shall be paid on the sales of
The Messi Store online, and on the co-branded products, unless such sales are managed directly by MGO; in this specific event, the Parties
shall negotiate case by case which should be the appropriate Royalty to be paid to LMM, providing that such Royalty shall never be lower
than 12%. Royalties shall be settled to LMM on a quarterly basis.

 

Annual Guaranteed Royalty/ Minimum Guaranteed Amount

 

    	 	 	 

     

    

 

4.5  MGO
hereby undertakes to pay to LMM a Minimum Guaranteed Amount on account of the royalties set forth herein, amounting to FOUR MILLION EUROS
(4.000.000 - €), net of taxes, for the entire term of this Agreement.

Likewise, as shown in the payment schedule described
below, each annual payment of the Minimum Guaranteed

Amount shall constitute the Annual Guaranteed Royalty.

 

The Minimum Guaranteed Amount undertaken herein, shall
be paid by MGO in accordance with the following payment schedule, to wit:

 

	 	 	 	 	 	Dates
	Payment #	 	Amount €	 	 	Invoice Date	 	Payment Due
	1	 	€	500,000	 	 	15th Nov 2021	 	15th Dec 2021
	2	 	€	500,000	 	 	15th April 2022	 	15th May 2022
	3	 	€	500,000	 	 	15th Sep 2022	 	15th Oct 2022
	4	 	€	500,000	 	 	15th Feb 2023	 	15th Mar 2023
	S	 	€	500,000	 	 	15th July 2023	 	15th Ago 2023
	6	 	€	500,000	 	 	15th Dec 2023	 	15th Jan 2024
	7	 	€	500,000	 	 	15th May 2024	 	15th June 2024
	8	 	€	500,000	 	 	15th Oct 2024	 	15th Nov 2024

 

THE MINIMUM GUARANTEED AMOUNT shall cover to the fullest
extent the amounts that MGO must pay LMM as royalties as set forth herein. Therefore, if at the expiration of the Agreement the royalty
payments to be borne by MGO should not cover the amount already paid to LMM as GUARANTEED MINIMUM AMOUNT, the resulting differences will
definitively accrue to LMM.

 

Payment form and taxes

 

5.3  Royalties
and any other amounts to be paid under this section, shall be paid in accordance with the provisions of Schedule 8, within thirty (30)
working days following the end of each Quarter in EUROS. At the expiration of each quarter, MGO shall provide LMM with an account statement
evidencing the total Net Sales of each Product type received by MGO and its licensees and the total amount of royalties arising from the
sublicenses and any other income obtained by MGO in the corresponding Quarter.

 

5.4  LMM
shall submit to MGO the applicable statutory invoice for payment based on such statement. MGO shall make payments within thirty (30) calendar
days after reception of such invoice on the part of MGO. Such payments shall always be made from an account which holder should be MGO,
located in the United States of America.

 

5.5  In
order to convert the various local currencies in which royalties are payable into Euros, the currency exchange rate to be applied shall
be the exchange rate in effect on the date on which the corresponding payment should be made, as quoted in the Wall Street Journal.

 

5.5.  MGO shall be exclusively responsible for
making and paying the legally applicable withholding taxes on the amounts that MGO is bound to pay as royalties to LMM. In the event that
any withholding tax should be applicable, MGO shall bear all tax costs of such payments and accordingly shall add to each of the amounts
payable under this section 5 to LMM, the additional amount necessary so that LMM should not bear any cost for any withholding tax to be
actually withheld by MGO on each such payment.

 

    	 	 	 

     

    

 

Additionally, if applicable, MGO shall pay to LMM
the amount corresponding to VAT or any other indirect tax, so that the amount paid to LMM shall coincide with the agreed net amounts,
plus the corresponding VAT, which shall be calculated on the agreed gross amount.

 

5.6  MGO shall submit the corresponding
payments together with the tax receipts, certificates or slips issued by the tax authorities evidencing the payment of such withholdings.

 

5.7  LMM shall provide MGO with properly
executed tax forms and/or tax residency certificates as required by applicable law and the appropriate VAT Identification Number.

 

5.8  MGO shall provide LMM with its
tax identification number.

 

5.9  LMM shall provide MGO with its
full, accurate and proper invoices, within the deadlines established in 5.3. Additionally, MGO shall be bound to provide LMM with the
information, documents and/ or certificates necessary to determine the VAT and other taxes to be charged in the invoices.

 

5.10  Payments shall be made by means
of bank transfers to the account indicated by LMM at each time.

 

5.11  Delay on the part of MGO in
complying with any of the payments provided for in this section shall accrue default interests in favor of LMM from the first due date
of such amounts, computed in accordance with Act 3/2004, plus an increase of 4 percentage points per annum, with no need for previous
notice to MGO.

 

5.12  In any event, any failure by
MGO to pay any of the amounts undertaken under this Agreement shall entitle LMM to terminate this Agreement earlier, without further notice,
should such failure to pay not be remedied within fifteen (15) days from the date the amounts become due and payable.

 

5.13  Notwithstanding LMM's right
to audit all of MGO's relevant commercial or financial information connected to the sales of the Products, as set forth hereafter, with
the purpose of verifying the accuracy of the amounts reported by MGO-TEAM to LMM, LMM shall be entitled to review and approve in writing
all expenses that MGO expects to incur for the development, manufacture, marketing and advertising of the Products. To this extent, MGO
hereby undertakes to provide LMM, on the date of the execution hereof, with an estimation which shall include the estimated expenses and
profits for the following six (6) months. Each such estimation shall be approved in advance and in writing by LMM. MGO shall use its commercially
reasonable efforts to remain within the parameters of such estimation; however, the Parties acknowledge that the estimation is only a
guide and that business circumstances are likely to change.

 

Records and auditing.

 

5.14  MGO shall keep all records
of its sales of Products and those of its sub-licensees necessary for the calculation of royalties and other amounts payable under this
section.

    	 	 	 

     

    

 

 

5.15       LMM
shall have the right, through an independent auditor, to inspect and/or audit the accounts of MGO at its premises or facilities, in order
to verify the accuracy of the settlements and reports submitted by MGO and its compliance with the undertakings set forth in this Agreement.
The charges arising from the auditing carried out by LMM shall be at its own expense, unless such audit results in a difference of more
than 2% between the royalties reported and those actually paid by MGO pursuant to section 5 hereof, in which case the auditing
costs shall be borne by MGO.

 

5.16       Likewise,
should such audit show that any payment made by MGO has been lower than the amount actually due, MGO shall pay LMM the amount due within
five (5) calendar days after reception of the audit report by MGO. Should such audit evidence that payments made by MGO exceeded the payment
due, LMM shall pay MGO the exceeding amount at the time it furnishes a copy of the audit report to MGO.

 

6.   Representations
and warranties.

 

6.1  Notwithstanding
the remaining representations and warranties set forth in this Agreement:

 

		(a)	MGO shall perform its duties and fulfill its undertakings arising from this Agreement with the standard
of care applicable in the industry, and shall use all reasonable efforts to promote the good name, positive image, standing and reputation
of the Player and of LMM, specifically, but not limited to, MGO agrees not to make any statement, act or omission of any kind or nature
whatsoever, that may damage, negatively affect or may affect, either directly or indirectly, the good name, positive image, standing and
reputation of the Player and/or LMM or of third parties related to them;

 

		(b)	MGO shall not take any action or any steps which may adversely affect the validity of any part of, or
all of the elements comprising the Image Rights and/or the Trademarks and shall ensure the protection of the goodwill associated to such
elements. MGO hereby undertakes not to register nor apply for the registration of any name, domain name, trademark, symbol or other distinctive
signs identical to the elements comprising the Image Rights and/or the Trademarks (or any other similar element that give rise or may
give rise to confusion or association with the activity, services or companies of LMM or the Player) in any country or territory of the
world;

 

		(c)	MGO shall not develop any Product which may be regarded as being in direct or indirect competition with
products marketed by sponsors with whom LMM, the Player, his team and/or his national team have executed sponsorship agreements or authorizations
for the use of their image or Trademarks and, in particular, but not limited to, products in competition with those marketed by ADIDAS
INTERNATIONAL MARKETING BV, or in general, under the trademark “ADIDAS”. Notwithstanding the above, LMM hereby represents
and warrants to MGO that (i) the categories of Products (as set forth in Schedule 2) and provided that they are observed by MGO, shall
not place MGO In breach of this provision or any other provision set forth in this Agreement, and (ii) Product approvals by LMM, in accordance
with the Product approval process set forth in this Agreement, shall ensure MGO that such approved Products do not conflict with this
section;

 

		(d)	MGO shall not use the Trademarks except in the manners and for the purposes expressly authorized in this
Agreement, and shall refrain from any use outside the scope of this Agreement;

 

    	 	 	 

     

    

 

 

		(e)	MGO shall organize and carry out, in the Territory, on an ongoing basis and with industry standard diligence,
the promotional and advertising activities and initiatives, or any other type of action required by this Agreement in order to properly
position the Products and promote the image of the Trademarks, provided that they have been previously approved by LMM under the terms
of this Agreement. Moreover, MGO shall bear all expenses and costs arising from such promotional or advertising activities and efforts.
MGO acknowledges that all promotion and advertising of the Products must be carried out in accordance with the image and reputation of
LMM, the Player, the Image Rights and/or the Trademarks, in accordance with the restrictions set forth in this Agreement;

 

(f)              MGO shall
be solely responsible for ensuring that commercial operation of the Trademarks made by it, its agents, subcontractors or sub-licensees
under the terms of this Agreement shall comply with the applicable regulations of the various jurisdictions in which the Trademarks are
used and, without limitation, with any and all applicable advertising, labor, tax, environmental, regulatory or child protection laws;

 

		(g)	MGO hereby warrants that both the production process of the Products and the Products themselves, and
all their elements, comply with all applicable national and international regulations in all territories where the Products shall be marketed.
Moreover, it warrants that the Products shall not cause a direct or indirect risk to the health or physical integrity of consumers and,
in particularly, to children or minors;

 

		(h)	MGO warrants that the Products do not and will not infringe any third party rights (such as, but not limited
to, intellectual or industrial property rights or others), and that it shall obtain the necessary authorizations, assignments and/or licenses
for their development, manufacture, marketing and promotion throughout the Territory. LMM represents, and warrants that the Trademarks
do not and shall not infringe any third party rights (such as, among others, intellectual or industrial property rights or others);

 

		(i)	MGO shall report to LMM in a reliable manner any infringement related to the Image Rights or the Trademarks
as soon as it becomes aware of it. MGO acknowledges that it has no right, nor is it bound, to bring any claim or action in defense of
the Image Rights or Trademarks without the prior consent of LMM;

 

(j)               MGO
shall regularly report to LMM on the progress and development of the marketing of the Products and, specifically, it shall provide LMM
with details of sales of the Products and any other confidential, financial or accounting information that may be relevant to the commercial
operation of the Products on a quarterly basis. Likewise, MGO shall inform LMM about the state of the market and its trends;

 

(k)             MGO shall pay LMM the payments agreed upon in
section 5 of this Agreement. Likewise, MGO shall be the sole responsible for and shall undertake any and all payment obligations to third
parties acting on its behalf in connection with the performance of this Agreement. To this extent, MGO shall indemnify, defend and hold
LMM, the Player and its parties and affiliates completely harmless against any claim, request or lawsuit from any third party requesting
any amount of money due to its intervention in the execution of this Agreement, which shall always be paid by MGO.

 

    	 	 	 

     

    

 

(l)  MGO hereby undertakes to indemnify,
defend and hold the Player and LMM completely harmless against any damages (including loss of profits), costs or expenses arising from
any action, lawsuit, claim, penalty, or, in general, against any kind of claims or procedures related directly or indirectly to the execution
hereof, or from the lack of veracity or accuracy, in whole or in part, of the statements provided in this section.

 

(m)  MGO shall be the sole responsible
to assure that the sales of the Products made by it, its agents, subcontractors or its licensees, in order to perform this Agreement,
shall comply with all the regulations applicable throughout the Territory, and with no limitations in connection with any regulations
related to advertising, labor, taxes, environment, regulatory or any child protection regulations.

 

(n)  LMM shall make sure that at
all times, throughout the term of this Agreement: (a) MGO shall be entitled to fully use the Trademarks, as set forth herein; (b) the
Player shall comply with the provisions of Schedule 7 herein; and (c) the Player should not engage in any action that may place the Products
or MGO in a situation of public discredit, contempt, scandal or ridicule.

 

6.2  Each Party hereby represents
and warrants the following: (i) that it has obtained all the approvals, consents and authorizations necessary to enter into this Agreement,
and to fulfill the duties undertaken herein worldwide; (ii) that the persons entering into this Agreement in the name, place and stead
of the Party have full and express authorities to do so, and to bind such Party (iii) the performance, delivery and fulfillment of this
Agreement does not infringe or violate any provision of any law, by laws, regulation, or any other authority governing the Party; (iv)
this Agreement is a valid and binding undertaking of the Party; (v) there are no actions, claims, proceedings or investigations whatsoever
pending or threatened against it or by it of which it is aware that may have a material effect on the subject matter hereof.

 

6.3  Each Party shall indemnify,
defend and hold harmless the other and its officers, directors, employees, agents, sub-licensees, successors and assigns against any and
all losses, damages, liabilities, any deficiency, claims, actions, judgments, settlements, interests, awards, penalties, fines, costs
or expenses of any kind, including reasonable attorneys’ fees and the cost of enforcing any right to indemnification hereunder and
the cost of pursuing insurance providers (collectively, “Losses”) arising out of or in connection with any claim, suit, action
or proceeding by a third party related to any actual or alleged: (a) breach of any representation, warranty, covenant or duty under this
Agreement,

 

7.  Term

 

This Agreement shall be valid as of the date of the
subscription hereof, and shall remain in full force for a term of three (3) years, which expiration date shall be next December 31st,
2024.

This Agreement shall not
be automatically extended, therefore it shall terminate on its due date. This Agreement shall only be extended by a new written agreement
between the Parties hereto.

 

8.  Termination of the Agreement

 

8.1  The Agreement shall terminate
in the following cases, to wit:

 

(a)  Expiration of the term of the
Agreement as provided in section 8 above;

 

    	 	 	 

     

    

 

(b) By mutual written consent of the Parties;

 

(c)  Due to a material breach of
duty of one of the Parties, in connection with any of the duties set forth herein, unless such breach may be remedied, and is indeed remedied
within fifteen (15) calendar days after the date the breaching Party is served notice and is required to remedy such breach. Upon expiration
of such term without the breach having been remedied, the Party giving notice shall be entitled to an early termination of the Agreement,
effective immediately, by means of a written notice to the breaching Party, and to claim all applicable damages as well.

 

(d)  By means of a written notice
by a Party in case of liquidation or winding up of the legal entity of the other Party.

 

(e)  At LMM's request, as a result
of the breach on the part of MGO of section 5 hereof, and, specifically, in the event of default in payment within the agreed terms of
both the Consideration and the Annual Guaranteed Royalties, in accordance with the provisions of Section 5.12;

 

(f)  At LMM's request, in the event
that the consideration obtained by LMM fails to reach the Annual Guaranteed Royalty in a given contract year. For these purposes, the
contractual year shall be deemed to be the calendar year.

 

(g)  At LMM's request, as a consequence
of any action on the part of MGO and, specifically, those related to the manufacturing and marketing of the Products, or to the use and
operation of the Trademarks, which cause or may cause, either directly or indirectly, any damage or alteration to the good name and image,
reputation and prestige of the Player and of LMM. In such event, besides the immediate termination of the Agreement, LMM shall also be
entitled to claim to MGO a compensation on the grounds of the damages that its behavior may cause or might have caused.

 

8.2. Upon termination of this Agreement on
any grounds, MGO shall immediately cease to use or operate the Trademarks and, in particular, it shall cease to produce any goods, materials
or media bearing the Trademarks. Likewise, MGO shall immediately cease to use The Messi Store website and its application, and shall transfer
to LMM all permissions and licenses necessary for the latter to continue operating said website and application. In addition to the foregoing,
MGO shall have a maximum period of ninety (90) days from the termination date of the Agreement due to any reason whatsoever (the “Settlement
Period”) in order to distribute the remaining stock of Products already manufactured through the same channels and under the same
conditions as those in force during the term of this Agreement. In this regard, MGO shall report to LMM on the stock of Products and the
channels through which it expects to distribute them within this ninety (90) day period. Sales made by MGO during such term shall be fully
computed for the purposes of the remuneration to be collected by LMM in accordance with section 5.

 

8.3  The sub-licensees granted by
LMM and MGO which might exceed the term of this Agreement, shall remain in full force only in connection with LMM, and MGO shall not have
any subsequent right over the them for the whole period of validity of the referred licenses.

 

9.  Confidentiality

 

9.1  The Parties hereby agree to
keep the confidentiality of this Agreement, its terms and Conditions, as well as all the documents and pieces of information arising from
or related to them (hereinafter referred to as the “Confidential Information”), therefore, they hereby undertake not to disclose
them to any third parties other than those who are part of their management or management body, or those who take part professionally
in the negotiations in their capacities as legal, accounting or financial advisors, or other specialists, or any other third party taking
part as a subcontractor, licensee, or otherwise, unless a regulatory, inspecting or supervising entity, or court so requires.

 

    	 	 	 

     

    

 

9.2  In the event any of the Parties
should be legally bound to disclose the Confidential Information, fully or partially, due to an order issued by a court of law or an administrative
entity with jurisdiction on the matter:

 

(a)  The required Party shall give
written notice to the other Party of such circumstance, as soon as possible and always prior to the disclosure or delivery of the Confidential
Information, attaching to such notice a copy of the relevant documents and information so that the other Party may take such measures
as it deems appropriate in order to protect its own rights and the Confidential Information; and

 

(b)  The Parties shall determine
by mutual agreement the content of the Confidential Information that is legally required to be disclosed, unless such content is determined
by the decision of the relevant authority requiring the Parties to provide such information.

 

9.3  The duties comprised in this
Section shall remain in full force even after the termination of this Agreement on any grounds whatsoever, and until the Confidential
Information is no longer classified as confidential.

 

10.  Assignment

 

No Party shall assign any of its rights and duties
arising under this Agreement, or its position hereunder, without the prior written consent of the other Party.

 

11.  Rules for Interpretation

 

11.1  Headings

 

The headings used in this Agreement are included for
reference purposes only and shall not affect its interpretation.

 

11.2  Validity

 

Should any inconsistencies arise between the contents
of a supplementary document or a Schedule, and the contents of the terms and conditions hereof, the terms, essence, and purpose of this
Agreement shall prevail, unless otherwise expressly provided.

 

11.3  Severability and incorporation
of terms.

 

The illegality or invalidity of any provision of the
Agreement shall not affect the validity of the remaining provisions, provided that the rights and duties of the Parties under the Agreement
are not materially affected. Essential shall refer to any situation which seriously harms the interests of either Party or which relates
to the subject matter of the Agreement as provided in section 1 hereof. Such terms shall be replaced with others which, in accordance
with the law, should comply with the purpose of the replaced terms. The Parties hereby waive any claim for damages that may be made for
such events

 

    	 	 	 

     

    

 

11.4  Primacy and amendments to the
Agreement.

 

This Agreement constitutes the entire agreement reached
by the Parties up to the date of its subscription, with respect to the matters contained below and supersedes all prior agreements regarding
the subject matter hereof. Any amendments to this Agreement (including amendments to the Schedules) shall be valid only when made in writing
in a document signed by both Parties.

 

11.5  Waiver.

 

No waiver by the Parties of any rights arising out
of this Agreement or arising from a breach thereof shall be deemed to exist unless such waiver is expressly made in writing in accordance
with section 13.

In the event either Party waives any right under the
Agreement or any breach by the other Party pursuant to the preceding paragraph, such waiver shall in no event be construed as a waiver
of any other right under the Agreement or any breach by the other Party, even if similar.

 

11.6  Language

 

This Agreement shall be construed in good faith, and
shall be drafted in Spanish and English. Should any differences regarding the interpretation between both versions arise, or should this
Agreement be submitted to any court, only the Spanish version shall be valid.

 

12.  Notices

 

12.1  All communications and notices
to be made by the Parties in accordance herewith, or in connection with this Agreement, shall be made in writing and by means of:

 

(a)  hand delivery with a written confirmation of
reception by the other Party;

(b)  notarial service; or

(c)  postal mail or
e-mail, as well as any other means, provided that in all these cases its reception on the part of the addressee or addressees is duly
evidenced.

 

12.2  Communications and notices
between the Parties shall be delivered to the addresses and for the attention of the persons indicated below:

 

To LMM:

LEO MESSI MANAGEMENT SL 

[__]

 

To MGO:

MGOTEAM 1 LLC

30 Wall Street, piso 12, Nueva York, NY 10005

To the attention of: Maximiliano Ojeda

mgo@mgoteam.com

 

With copy to:

[__]

 

    	 	 	 

     

    

 

[__]

 

12.3

Any change in the addresses or persons for the purpose
of notices shall be Immediately made known to the other Party in accordance with the rules set forth in this section. As long as a Party
has not received notice of such changes, the notices served by it in accordance with such rules at the addresses herein established shall
be deemed to have been properly served.

 

13. Applicable law and jurisdiction.

 

13.1  This
Agreement shall be governed by Spains's legal system.

 

13.2   Any
action or claim arising out of this Agreement, including any issue relating to the existence, validity or termination of this Agreement,
shall be submitted to and finally settled by means of an arbitration, to be held in Barcelona, Spain. Such arbitration shall be carried
out in accordance with the arbitration rules of the International Chamber of Commerce, which are deemed to be incorporated herein by means
of reference. The arbitration court shall be made up of three (3) arbitrators, of which the plaintiff(s) and the defendant(s) shall appoint
one arbitrator each, and the third arbitrator, who shall be the chairman of the arbitration court, shall be appointed by the two arbitrators
appointed by the parties within thirty (30) days following the last of their appointments. The language of the arbitration shall be Spanish.
Any award of the arbitration court shall be binding from the day on which it is rendered, and both parties waive their right to submit
to any other court any legal issue or appeal that may be available to them. The award rendered by the relevant arbitration court may subsequently
be enforced before any court having jurisdiction to do so. The parties agree to keep confidential all matters relating to this arbitration,
including the existence of the arbitration itself. Such duty shall be discharged in the event that either party is required by any legal
provision to disclose information in connection with the arbitration.

 

In witness whereof, two copies of the same tenor
and to only one effect are subscribed by the Parties, in the place arid on the date indicated above.

 

	/s/	 
	LEO MESSI MANAGEMENT SL, 	 
	Duly represented by 	 
	Mr. [__] 	 

 

    	 	 	 

     

    

 

	 /s/ 	 
	MGOTEAM 1 LLC, 	 
	Duly represented by 	 
	Mr. Maximiliano OjedaExhibit 10.2

 

MGO GLOBAL INC.

 

2022 EQUITY INCENTIVE PLAN

 

1.            Purposes
of the Plan. The purposes of this Plan are:

 

·       to
attract and retain the best available personnel for positions of substantial responsibility,

 

·       to
provide additional incentive to Employees, Directors and Consultants, and

 

·       to
promote the success of the Company’s business.

 

The Plan permits the
grant of Incentive Stock Options, Non-statutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units
and Performance Awards.

 

2.      
    Definitions. As used herein, the following definitions will apply:

 

2.1           “Administrator”
means the Board or any of its Committees as will be administering the Plan, in accordance with Section 4 of the Plan.

 

2.2          “Applicable
Laws” means the legal and regulatory requirements relating to the administration of equity-based awards, including but
not limited to the related issuance of shares of Common Stock, including but not limited to, under U.S. federal and state corporate
laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed
or quoted and the applicable laws of any non-U.S. country or jurisdiction where Awards are, or will be, granted under the Plan.

 

2.3          “Award”
means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights, Restricted Stock, Restricted
Stock Units, or Performance Awards.

 

2.4          “Award
Agreement” means the written or electronic agreement setting forth the terms and provisions applicable to each Award
granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan.

 

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

 

2.6           “Change
in Control” means the occurrence of any of the following events:

 

(a)       Change
in Ownership of the Company. A change in the ownership of the Company which occurs on the date that any one person, or more
than one person acting as a group (“Person”), acquires ownership of the stock of the Company that, together
with the stock held by such Person, constitutes more than fifty percent (50%) of the total voting power of the stock of the Company;
provided, however, that for purposes of this subsection (a), the acquisition of additional stock by any one Person, who is considered
to own more than fifty percent (50%) of the total voting power of the stock of the Company will not be considered a Change in Control;
provided, further, that any change in the ownership of the stock of the Company as a result of a private financing of the Company
that is approved by the Board also will not be considered a Change in Control. Further, if the stockholders of the Company immediately
before such change in ownership continue to retain immediately after the change in ownership, in substantially the same proportions
as their ownership of shares of the Company’s voting stock immediately prior to the change in ownership, direct or indirect
beneficial ownership of fifty percent (50%) or more of the total voting power of the stock of the Company or of the ultimate parent
entity of the Company, such event will not be considered a Change in Control under this subsection (a). For this purpose, indirect
beneficial ownership will include, without limitation, an interest resulting from ownership of the voting securities of one or
more corporations or other business entities which own the Company, as the case may be, either directly or through one or more
subsidiary corporations or other business entities; or

 

(b)       Change
in Effective Control of the Company. If the Company has a class of securities registered pursuant to Section 12 of the Exchange
Act, a change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced
during any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of
the Board prior to the date of the appointment or election. For purposes of this subsection (b), if any Person is considered to
be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered
a Change in Control; or

 

    	 	 1	 

     

    

 

(c)       Change
in Ownership of a Substantial Portion of the Company’s Assets. A change in the ownership of a substantial portion of
the Company’s assets which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period
ending on the date of the most recent acquisition by such Person or Persons) assets from the Company that have a total gross fair
market value equal to or more than fifty percent (50%) of the total gross fair market value of all of the assets of the Company
immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (c), the following
will not constitute a change in the ownership of a substantial portion of the Company’s assets: (i) a transfer to an entity
that is controlled by the Company’s stockholders immediately after the transfer, or (ii) a transfer of assets by the Company
to: (A) a stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company’s
stock, (B) an entity, fifty percent (50%) or more of the total value or voting power of which is owned, directly or indirectly,
by the Company, (C) a Person, that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power
of all the outstanding stock of the Company, or (D) an entity, at least fifty percent (50%) of the total value or voting power
of which is owned, directly or indirectly, by a Person described in this subsection (c)(ii)(C). For purposes of this subsection
(c), gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined
without regard to any liabilities associated with such assets.

 

For purposes of this
Section 2.6, persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger,
consolidation, purchase or acquisition of stock, or similar business transaction with the Company.

 

Notwithstanding the
foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control event within
the meaning of Section 409A. 

 

Further and for the
avoidance of doubt, a transaction will not constitute a Change in Control if: (x) its primary purpose is to change the jurisdiction
of the Company’s incorporation, or (y) its primary purpose is 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.

 

2.7           “Clawback
Policy” has the meaning set forth in Section 24.

 

2.8           “Code”
means the U.S. Internal Revenue Code of 1986, as amended. Reference to a specific section of the Code or regulation thereunder
will include such section or regulation, any valid regulation or other formal guidance of general or direct applicability promulgated
under such section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding
such section or regulation.

 

2.9           “Committee”
means a committee of Directors or of other individuals satisfying Applicable Laws appointed by the Board, or by a duly authorized
committee of the Board, in accordance with Section 4 hereof.

 

2.10         “Common
Stock” means the common stock of the Company.

 

2.11         “Company”
means MGO Global Inc., a Delaware corporation, or any successor thereto.

 

2.12         “Consultant”
means any natural person, including an advisor, engaged by the Company or any of its Parent or Subsidiaries to render bona fide
services to such entity, provided the services (a) are not in connection with the offer or sale of securities in a capital-raising
transaction, and (b) do not directly promote or maintain a market for the Company’s securities, in each case, within the
meaning of Form S-8 promulgated under the Securities Act, and provided further, that a Consultant will include only those persons
to whom the issuance of Shares may be registered under Form S-8 promulgated under the Securities Act.

 

    	 	 2	 

     

    

 

2.13         “Director”
means a member of the Board.

 

2.14         “Disability”
means total and permanent disability as defined in Code Section 22(e)(3), provided that in the case of Awards other than Incentive
Stock Options, the Administrator in its discretion may determine whether a permanent and total disability exists in accordance
with uniform and non-discriminatory standards adopted by the Administrator from time to time.

 

2.15         “Employee”
means any person, including Officers and Directors, employed by the Company or any Parent or Subsidiary of the Company. Neither
service as a Director nor payment of a director’s fee by the Company will be sufficient to constitute “employment”
by the Company.

 

2.16         “Exchange
Act” means the U.S. Securities Exchange Act of 1934, as amended, including the rules and regulations promulgated thereunder.

 

2.17         “Exchange
Program” means a program under which (a) outstanding Awards are surrendered or cancelled in exchange for awards of the
same type (which may have higher or lower exercise prices and different terms), awards of a different type, and/or cash, (b) Participants
would have the opportunity to transfer any outstanding Awards to a financial institution or other person or entity selected by
the Administrator, and/or (c) the exercise price of an outstanding Award is reduced or increased. The Administrator will determine
the terms and conditions of any Exchange Program in its sole discretion.

 

2.18         “Fair
Market Value” means, as of any date and unless the Administrator determines otherwise, the value of Common Stock determined
as follows:

 

(a)       If
the Common Stock is listed on any established stock exchange or a national market system, including without limitation the New
York Stock Exchange or the Nasdaq Global Select Market, the Nasdaq Global Market, or the Nasdaq Capital Market of The Nasdaq Stock
Market, its Fair Market Value will be the closing sales price for such stock (or, if no closing sales price was reported on that
date, as applicable, on the last Trading Day such closing sales price was reported) as quoted on such exchange or system on the
date of determination, as reported in The Wall Street Journal or such other source as the Administrator deems
reliable;

 

(b)       If
the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value
of a Share will be the mean between the high bid and low asked prices for the Common Stock on the day of determination (or, if
no bids and asks were reported on that date, as applicable, on the last Trading Day such bids and asks were reported), as reported
in The Wall Street Journal or such other source as the Administrator deems reliable; or

 

(c)       For
purposes of any Awards granted on the Registration Date, the Fair Market Value will be the initial price to the public as set forth
in the final prospectus included within the registration statement on Form S-1 filed with the Securities and Exchange Commission
for the initial public offering of the Common Stock; or

 

(d)       In
the absence of an established market for the Common Stock, the Fair Market Value will be determined in good faith by the Administrator.

 

In addition, for purposes of determining
the fair market value of shares for any reason other than the determination of the exercise price of Options or Stock Appreciation
Rights, fair market value will be determined by the Administrator in a manner compliant with Applicable Laws and applied consistently
for such purpose. The determination of fair market value for purposes of tax withholding may be made in the Administrator’s
sole discretion subject to Applicable Laws and is not required to be consistent with the determination of fair market value for
other purposes.

 

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

 

2.20         “Incentive
Stock Option” means an Option that by its terms qualifies and is otherwise intended to qualify as an incentive stock
option within the meaning of Code Section 422 and the regulations promulgated thereunder.

 

    	 	 3	 

     

    

 

2.21         “Legal
Representative” has the meaning set forth in Section 6.6.4.

 

2.22         “Non-statutory
Stock Option” means an Option that by its terms does not qualify or is not intended to qualify as an Incentive Stock
Option.

 

2.23         “Officer”
means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations
promulgated thereunder.

 

2.24         “Option”
means a stock option granted pursuant to the Plan.

 

2.25         “Outside
Director” means a Director who is not an Employee. Any member of the Board who is designated as the Executive Chairperson
(or its equivalent) will not be considered an Outside Director for purposes of the Plan.

 

2.26         “Parent”
means a “parent corporation,” whether now or hereafter existing, as defined in Code Section 424(e).

 

2.27         “Participant”
means the holder of an outstanding Award.

 

2.28         “Performance
Awards” means an Award which may be earned in whole or in part upon attainment of performance goals or other
vesting criteria as the Administrator may determine and which may be cash- or stock-denominated
and may be settled for cash, Shares or other securities or a combination of the foregoing under Section 10.

 

2.29         “Performance
Period” means has the meaning set forth in Section 10.1.

 

2.30         “Period
of Restriction” means the period (if any) during which the transfer of Shares of Restricted Stock are subject to restrictions
and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of time,
the achievement of target levels of performance, or the occurrence of other events as determined by the Administrator.

 

2.31         “Person”
has the meaning set forth in Section 2.6(a).

 

2.32         “Plan”
means this MGO Global Inc. 2022 Equity Incentive Plan, as may be amended from time to time.

 

2.33         “Registration
Date” means the effective date of the first registration statement that is filed by the Company and declared effective
pursuant to Section 12(b) of the Exchange Act, with respect to any class of the Company’s securities.

 

2.34         “Restricted
Stock” means Shares issued pursuant to an Award of Restricted Stock under Section 8 of the Plan, or issued pursuant to
the early exercise of an Option.

 

2.35         “Restricted
Stock Unit” means a bookkeeping entry representing an amount equal to the Fair Market Value of one Share, granted pursuant
to Section 9. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company.

 

2.36         “Rule
16b-3” means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect when discretion is being exercised
with respect to the Plan. 

 

2.37         “Section
16b” means Section 16(b) of the Exchange Act.

 

2.38         “Section
409A” means Code Section 409A and the U.S. Treasury Regulations and guidance thereunder, and any applicable state law
equivalent, as each may be promulgated, amended or modified from time to time.

 

    	 	 4	 

     

    

 

2.39         “Securities
Act” means the U.S. Securities Act of 1933, as amended, including the rules and regulations promulgated thereunder.

 

2.40         “Service
Provider” means an Employee, Director or Consultant.

 

2.41         “Share”
means a share of the Common Stock, as adjusted in accordance with Section 15 of the Plan.

 

2.42         “Stock
Appreciation Right” means an Award, granted alone or in connection with an Option, that pursuant to Section 7 is designated
as a Stock Appreciation Right.

 

2.43         “Subsidiary”
means a “subsidiary corporation,” whether now or hereafter existing, as defined in Code Section 424(f).

 

2.44         “Trading
Day” means a day that the primary stock exchange, national market system, or other trading platform, as applicable, upon
which the Common Stock is listed (or otherwise trades regularly, as determined by the Administrator, in its sole discretion) is
open for trading.

 

2.45         “U.S.
Treasury Regulations” means the Treasury Regulations of the Code. Reference to a specific Treasury Regulation or Section
of the Code will include such Treasury Regulation or Section, any valid regulation promulgated under such Section, and any comparable
provision of any future legislation or regulation amending, supplementing or superseding such Section or regulation.

 

3.            Stock
Subject to the Plan.

 

3.1          Stock
Subject to the Plan. Subject to adjustment upon changes in capitalization of the Company as provided in Section 15 of the Plan
and the automatic increase set forth in Section 3.2 of the Plan, the maximum aggregate number of Shares that may be subject to
Awards and sold under the Plan will be equal to 2,186,470 Shares. In addition, Shares may become available for issuance under Sections
3.2 and 3.3 of the Plan. The Shares may be authorized but unissued, or reacquired Common Stock.

 

3.2           Automatic
Share Reserve Increase. Subject to adjustment upon changes in capitalization of the Company as provided in Section 15, the
number of Shares available for issuance under the Plan will be increased on the first day of each Fiscal Year beginning with the
2023 Fiscal Year, in an amount equal to the least of (a) 500,000 Shares, (b) a number of Shares equal to four percent (4%) of the
total number of shares of all classes of common stock of the Company outstanding on the last day of the immediately preceding Fiscal
Year, or (c) such number of Shares determined by the Administrator no later than the last day of the immediately preceding Fiscal
Year.

 

3.3           Lapsed
Awards. If an Award expires or becomes unexercisable without having been exercised in full, is surrendered pursuant to an Exchange
Program, or, with respect to Restricted Stock, Restricted Stock Units, or Performance Awards is forfeited to or repurchased by
the Company due to the failure to vest, the unpurchased Shares (or for Awards other than Options or Stock Appreciation Rights the
forfeited or repurchased Shares) which were subject thereto will become available for future grant or sale under the Plan (unless
the Plan has terminated). With respect to Stock Appreciation Rights, only Shares actually issued (i.e., the net Shares issued)
pursuant to a Stock Appreciation Right will cease to be available under the Plan; all remaining Shares under Stock Appreciation
Rights will remain available for future grant or sale under the Plan (unless the Plan has terminated). Shares that actually have
been issued under the Plan under any Award will not be returned to the Plan and will not become available for future distribution
under the Plan; provided, however, that if Shares issued pursuant to Awards of Restricted Stock, Restricted Stock Units or Performance
Awards are repurchased by the Company or are forfeited to the Company due to the failure to vest, such Shares will become available
for future grant under the Plan. Shares used to pay the exercise price of an Award or to satisfy the tax liabilities or withholdings
related to an Award will become available for future grant or sale under the Plan. To the extent an Award under the Plan is paid
out in cash rather than Shares, such cash payment will not result in reducing the number of Shares available for issuance under
the Plan. Notwithstanding the foregoing and, subject to adjustment as provided in Section 15, the maximum number of Shares that
may be issued upon the exercise of Incentive Stock Options will equal the aggregate Share number stated in Section 3.1, plus, to
the extent allowable under Code Section 422 and the U.S. Treasury Regulations promulgated thereunder, any Shares that become available
for issuance under the Plan pursuant to Sections 3.2 and 3.3.

 

    	 	 5	 

     

    

 

3.4          Share
Reserve. The Company, during the term of this Plan, will at all times reserve and keep available such number of Shares as will
be sufficient to satisfy the requirements of the Plan.

 

4.            Administration
of the Plan.

 

4.1         Procedure.

 

4.1.1       Multiple
Administrative Bodies. Different Committees with respect to different groups of Service Providers may administer the Plan.
The Compensation Committee of the Board initial be the Administrator of the Plan.

 

4.1.2       Rule
16b-3. To the extent desirable to qualify transactions hereunder as exempt under Rule 16b-3, the transactions contemplated
hereunder will be structured to satisfy the requirements for exemption under Rule 16b-3.

 

4.1.3       Other
Administration. Other than as provided above, the Plan will be administered by (A) the Board or (B) a Committee, which Committee
will be constituted to comply with Applicable Laws.

 

4.2         Powers
of the Administrator. Subject to the provisions of the Plan, and in the case of a Committee, subject to the specific duties
delegated by the Board to such Committee, the Administrator will have the authority, in its discretion:

 

(a)       to
determine the Fair Market Value;

 

(b)       to
select the Service Providers to whom Awards may be granted hereunder;

 

(c)       to
determine the number of Shares or dollar amounts to be covered by each Award granted hereunder;

 

(d)       to
approve forms of Award Agreements for use under the Plan;

 

(e)       to
determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder. Such terms and
conditions include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based
on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or limitation regarding
any Award or the Shares relating thereto (including but not limited to, temporarily suspending the exercisability of an Award if
the Administrator deems such suspension to be necessary or appropriate for administrative purposes or to comply with Applicable
Laws, provided that such suspension must be lifted prior to the expiration of the maximum term and post-termination exercisability
period of an Award), based in each case on such factors as the Administrator will determine;

 

(f)        to
institute and determine the terms and conditions of an Exchange Program, including, subject to Section 20.3, to unilaterally implement
an Exchange Program without the consent of the applicable Award holder;

 

(g)       to
construe and interpret the terms of the Plan and Awards granted pursuant to the Plan;

 

(h)       to
prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans
established for the purpose of facilitating compliance with applicable non-U.S. laws, easing the administration of the Plan and/or
for qualifying for favorable tax treatment under applicable non-U.S. laws, in each case as the Administrator may deem necessary
or advisable;

 

    	 	 6	 

     

    

 

(i)        to
modify or amend each Award (subject to Section 20.3), including but not limited to the discretionary authority to extend the post-termination
exercisability period of Awards and to extend the maximum term of an Option or Stock Appreciation Right (subject to Sections 6.4
and 7.5);

 

(j)        to
allow Participants to satisfy withholding tax obligations in a manner prescribed in Section 16;

 

(k)       to
authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted
by the Administrator; 

 

(l)        to
allow a Participant to defer the receipt of the payment of cash or the delivery of Shares that otherwise would be due to such Participant
under an Award; and

 

(m)      to
make all other determinations deemed necessary or advisable for administering the Plan.

 

4.3         Effect
of Administrator’s Decision. The Administrator’s decisions, determinations and interpretations will be final and
binding on all Participants and any other holders of Awards and will be given the maximum deference permitted by Applicable Laws.

 

5.            Eligibility.
Non-statutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units and Performance Awards may be
granted to Service Providers. Incentive Stock Options may be granted only to Employees.

 

6.            Stock
Options.

 

6.1        Grant
of Options. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time, may grant
Options to Service Providers in such amounts as the Administrator, in its sole discretion, will determine.

 

6.2        Option
Agreement. Each Award of an Option will be evidenced by an Award Agreement that will specify the exercise price, the term of
the Option, the number of Shares subject to the Option, the exercise restrictions, if any, applicable to the Option, and such other
terms and conditions as the Administrator, in its sole discretion, will determine.

 

6.3        Limitations.
Each Option will be designated in the Award Agreement as either an Incentive Stock Option or a Non-statutory Stock Option. Notwithstanding
such designation, however, to the extent that the aggregate fair market value of the shares with respect to which incentive stock
options are exercisable for the first time by the Participant during any calendar year (under all plans of the Company and any
Parent or Subsidiary) exceeds One Hundred Thousand Dollars ($100,000), such Options will be treated as non-statutory stock options.
For purposes of this Section 6.3, incentive stock options will be taken into account in the order in which they were granted, the
fair market value of the Shares will be determined as of the time the Option with respect to such Shares is granted, and calculation
will be performed in accordance with Code Section 422 and the U.S. Treasury Regulations promulgated thereunder.

 

6.4         Term
of Option. The term of each Option will be stated in the Award Agreement; provided, however, that the term will be no more
than ten (10) years from the date of grant thereof. In the case of an Incentive Stock Option granted to a Participant who, at the
time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the total combined voting power
of all classes of stock of the Company or any Parent or Subsidiary of the Company, the term of the Incentive Stock Option will
be five (5) years from the date of grant or such shorter term as may be provided in the Award Agreement.

 

    	 	 7	 

     

    

 

6.5          Option
Exercise Price and Consideration.

 

6.5.1   Exercise
Price. The per Share exercise price for the Shares to be issued pursuant to the exercise of an Option will be determined by
the Administrator, but will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant.
In addition, in the case of an Incentive Stock Option granted to an Employee who owns stock representing more than ten percent
(10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary of the Company, the per Share exercise
price will be no less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant. Notwithstanding
the foregoing provisions of this Section 6.5.1, Options may be granted with a per Share exercise price of less than one hundred
percent (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, Code Section 424(a). 

  

6.5.2   Waiting
Period and Exercise Dates. At the time an Option is granted, the Administrator will fix the period within which the Option
may be exercised and will determine any conditions that must be satisfied before the Option may be exercised.

 

6.5.3   Form
of Consideration. The Administrator will determine the acceptable form of consideration for exercising an Option, including
the method of payment. In the case of an Incentive Stock Option, the Administrator will determine the acceptable form of consideration
at the time of grant. Such consideration may consist entirely of: (a) cash (including cash equivalents); (b) check; (c) promissory
note, to the extent permitted by Applicable Laws, (d) other Shares, provided that such Shares have a Fair Market Value on the date
of surrender equal to the aggregate exercise price of the Shares as to which such Option will be exercised and provided further
that accepting such Shares will not result in any adverse accounting consequences to the Company, as the Administrator determines
in its sole discretion; (e) consideration received by the Company under a cashless exercise program (whether through a broker or
otherwise) implemented by the Company in connection with the Plan; (f) by net exercise; (g) such other consideration and method
of payment for the issuance of Shares to the extent permitted by Applicable Laws, or (h) any combination of the foregoing methods
of payment. In making its determination as to the type of consideration to accept, the Administrator will consider if acceptance
of such consideration may be reasonably expected to benefit the Company.

 

6.6          Exercise
of Option.

 

6.6.1    Procedure
for Exercise; Rights as a Stockholder. Any Option granted hereunder will be exercisable according to the terms of the Plan
and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option
may not be exercised for a fraction of a Share.

 

An Option will be deemed
exercised when the Company receives: (a) notice of exercise (in such form as the Administrator may specify from time to time) from
the person entitled to exercise the Option, and (b) full payment for the Shares with respect to which the Option is exercised (together
with applicable tax withholdings). Full payment may consist of any consideration and method of payment authorized by the Administrator
and permitted by the Award Agreement and the Plan. Shares issued upon exercise of an Option will be issued in the name of the Participant
or, if requested by the Participant, in the name of the Participant and his or her spouse. Until the Shares are issued (as evidenced
by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or
receive dividends or any other rights as a stockholder will exist with respect to the Shares subject to an Option, notwithstanding
the exercise of the Option. The Company will issue (or cause to be issued) such Shares promptly after the Option is exercised.
No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued,
except as provided in Section 15 of the Plan. 

Exercising an Option
in any manner will decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under the Option,
by the number of Shares as to which the Option is exercised.

 

6.6.2   Termination
of Relationship as a Service Provider. If a Participant ceases to be a Service Provider, other than upon such cessation as
the result of the Participant’s death or Disability, the Participant may exercise his or her Option within three (3) months
of such cessation, or such shorter or longer period of time, as is specified in the Award Agreement, in no event later than the
expiration of the term of such Option as set forth in the Award Agreement or Section 6.4. Unless otherwise provided by the Administrator
or set forth in the Award Agreement or other written agreement authorized by the Administrator between the Participant and the
Company or any of its Subsidiaries or Parents, as applicable, if on such date of cessation the Participant is not vested as to
his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan immediately. If after
such cessation the Participant does not exercise his or her Option within the time specified by the Administrator, the Option will
terminate, and the Shares covered by such Option will revert to the Plan.

 

    	 	 8	 

     

    

 

6.6.3   Disability
of Participant. If a Participant ceases to be a Service Provider as a result of the Participant’s Disability, the Participant
may exercise his or her Option within six (6) months of such cessation, or such longer or shorter period of time as is specified
in the Award Agreement (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement
or Section 6.4, as applicable) to the extent the Option is vested on such date of cessation. Unless otherwise provided by the Administrator
or set forth in the Award Agreement or other written agreement authorized by the Administrator between the Participant and the
Company or any of its Subsidiaries or Parents, as applicable, if on the date of such cessation the Participant is not vested as
to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan immediately. If after
such cessation the Participant does not exercise his or her Option within the time specified herein, the Option will terminate,
and the Shares covered by such Option will revert to the Plan.

 

6.6.4   Death
of Participant. If a Participant dies while a Service Provider, the Option may be exercised within six (6) months following
the Participant’s death, or within such longer or shorter period of time as is specified in the Award Agreement (but in no
event later than the expiration of the term of such Option as set forth in the Award Agreement or Section 6.4, as applicable),
by the Participant’s designated beneficiary, provided such beneficiary has been designated prior to the Participant’s
death in a form (if any) acceptable to the Administrator. If the Administrator has not permitted the designation of a beneficiary
or if no such beneficiary has been designated by the Participant, then such Option may be exercised by the personal representative
of the Participant’s estate or by the person(s) to whom the Option is transferred pursuant to the Participant’s will
or in accordance with the laws of descent and distribution (each, a “Legal Representative”). If the Option is
exercised pursuant to this Section 6.6.4, Participant’s designated beneficiary or Legal Representative shall be subject to
the terms of this Plan and the Award Agreement, including but not limited to the restrictions on transferability and forfeitability
applicable to the Service Provider. Unless otherwise provided by the Administrator or set forth in the Award Agreement or other
written agreement authorized by the Administrator between the Participant and the Company or any of its Subsidiaries or Parents,
as applicable, if at the time of death Participant is not vested as to his or her entire Option, the Shares covered by the unvested
portion of the Option will revert to the Plan immediately. If the Option is not so exercised within the time specified herein,
the Option will terminate, and the Shares covered by such Option will revert to the Plan.

  

6.6.5   Tolling
Expiration. A Participant’s Award Agreement may also provide that:

 

(a)       if
the exercise of the Option following the cessation of Participant’s status as a Service Provider (other than upon the Participant’s
death or Disability) would result in liability under Section 16b, then the Option will terminate on the earlier of (i) the expiration
of the term of the Option set forth in the Award Agreement, or (ii) the tenth (10th) day after the last date on which
such exercise would result in liability under Section 16b; or

 

(b)       if
the exercise of the Option following the cessation of the Participant’s status as a Service Provider (other than upon the
Participant’s death or Disability) would be prohibited at any time solely because the issuance of Shares would violate the
registration requirements under the Securities Act, then the Option will terminate on the earlier of (i) the expiration of the
term of the Option or (ii) the expiration of a period of thirty (30) days after the cessation of the Participant’s status
as a Service Provider during which the exercise of the Option would not be in violation of such registration requirements.

 

7.            Stock
Appreciation Rights.

 

7.1          Grant
of Stock Appreciation Rights. Subject to the terms and conditions of the Plan, a Stock Appreciation Right may be granted to
Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion.

 

7.2          Number
of Shares. The Administrator will have complete discretion to determine the number of Shares subject to any Award of Stock
Appreciation Rights.

 

    	 	 9	 

     

    

 

7.3          Exercise
Price and Other Terms. The per Share exercise price for the Shares that will determine the amount of the payment to be received
upon exercise of a Stock Appreciation Right as set forth in Section 7.6 will be determined by the Administrator and will be no
less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. Otherwise, the Administrator, subject
to the provisions of the Plan, will have complete discretion to determine the terms and conditions of Stock Appreciation Rights
granted under the Plan.

 

7.4          Stock
Appreciation Right Agreement. Each Stock Appreciation Right grant will be evidenced by an Award Agreement that will specify
the exercise price, the term of the Stock Appreciation Right, the conditions of exercise, and such other terms and conditions as
the Administrator, in its sole discretion, will determine.

 

7.5          Expiration
of Stock Appreciation Rights. A Stock Appreciation Right granted under the Plan will expire upon the date determined by the
Administrator, in its sole discretion, and set forth in the Award Agreement. Notwithstanding the foregoing, the rules of Section
6.4 relating to the maximum term and Section 6.6 relating to exercise also will apply to Stock Appreciation Rights.

  

7.6          Payment
of Stock Appreciation Right Amount. Upon exercise of a Stock Appreciation Right, a Participant will be entitled to receive
payment from the Company in an amount determined by multiplying:

 

(a)       The
difference between the Fair Market Value of a Share on the date of exercise over the exercise price; times

 

(b)       The
number of Shares with respect to which the Stock Appreciation Right is exercised.

 

At the discretion of
the Administrator, the payment upon Stock Appreciation Right exercise may be in cash, in Shares of equivalent value, or in some
combination thereof.

 

8.            Restricted
Stock.

 

8.1          Grant
of Restricted Stock. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time,
may grant Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion, will determine.

 

8.2          Restricted
Stock Agreement. Each Award of Restricted Stock will be evidenced by an Award Agreement that will specify the Period of Restriction
(if any), the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will
determine. Unless the Administrator determines otherwise, the Company as escrow agent will hold Shares of Restricted Stock until
the restrictions on such Shares have lapsed. The Administrator, in its sole discretion, may determine that an Award of Restricted
Stock will not be subject to any Period of Restriction and consideration for such Award is paid for by past services rendered as
a Service Provider.

 

8.3          Transferability.
Except as provided in this Section 8 or as the Administrator determines, Shares of Restricted Stock may not be sold, transferred,
pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction.

 

8.4          Other
Restrictions. The Administrator, in its sole discretion, may impose such other restrictions on Shares of Restricted Stock as
it may deem advisable or appropriate.

 

8.5          Removal
of Restrictions. Except as otherwise provided in this Section 8, Shares of Restricted Stock covered by each Restricted Stock
grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction or
at such other time as the Administrator may determine. The Administrator, in its discretion, may accelerate the time at which any
restrictions will lapse or be removed.

 

    	 	 10	 

     

    

 

8.6          Voting
Rights. During the Period of Restriction, Service Providers holding Shares of Restricted Stock granted hereunder may exercise
full voting rights with respect to those Shares, unless the Administrator determines otherwise.

 

8.7          Dividends
and Other Distributions. During the Period of Restriction, Service Providers holding Shares of Restricted Stock will be entitled
to receive all dividends and other distributions paid with respect to such Shares, unless the Administrator provides otherwise.
If any such dividends or distributions are paid in Shares, the Shares will be subject to the same restrictions on transferability
and forfeitability as the Shares of Restricted Stock with respect to which they were paid.

 

8.8           Return
of Restricted Stock to Company. On the date set forth in the Award Agreement, the Restricted Stock for which restrictions have
not lapsed will revert to the Company and again will become available for grant under the Plan.

 

9.           Restricted
Stock Units.

 

9.1          Grant.
Restricted Stock Units may be granted at any time and from time to time as determined by the Administrator. After the Administrator
determines that it will grant Restricted Stock Units, it will advise the Participant in an Award Agreement of the terms, conditions,
and restrictions related to the grant, including the number of Restricted Stock Units.

 

9.2          Vesting
Criteria and Other Terms. The Administrator will set vesting criteria in its discretion, which, depending on the extent to
which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant. The Administrator
may set vesting criteria based upon the achievement of Company-wide, divisional, business unit, or individual goals (including,
but not limited to, continued employment or service), applicable federal or state securities laws or any other basis determined
by the Administrator in its discretion.

 

9.3           Earning
Restricted Stock Units. Upon meeting the applicable vesting criteria, the Participant will be entitled to receive a payout
as determined by the Administrator. Notwithstanding the foregoing, at any time after the grant of Restricted Stock Units, the Administrator,
in its sole discretion, may reduce or waive any vesting criteria that must be met to receive a payout.

 

9.4           Form
and Timing of Payment. Payment of earned Restricted Stock Units will be made at the time(s) determined by the Administrator
and set forth in the Award Agreement. The Administrator, in its sole discretion, may settle earned Restricted Stock Units in cash,
Shares, or a combination of both.

 

9.5          Cancellation.
On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be forfeited to the Company.

 

10.          Performance
Awards.

 

10.1        Award
Agreement. Each Performance Award will be evidenced by an Award Agreement that will specify any time period during which any
performance objectives or other vesting provisions will be measured (“Performance Period”), and such other terms and
conditions as the Administrator determines. Each Performance Award will have an initial value that is determined by the Administrator
on or before its date of grant.

 

10.2        Objectives
or Vesting Provisions and Other Terms. The Administrator will set any objectives or vesting provisions that, depending
on the extent to which any such objectives or vesting provisions are met, will determine
the value of the payout for the Performance Awards. The Administrator may set vesting criteria based upon the achievement
of Company-wide, divisional, business unit, or individual goals (including, but not limited to, continued employment or service),
applicable federal or state securities laws, or any other basis determined by the Administrator in its discretion.

 

10.3        Earning
Performance Awards. After an applicable Performance Period has ended, the holder of a Performance Award will be entitled to
receive a payout for the Performance Award earned by the Participant over the Performance Period. The Administrator, in its discretion,
may reduce or waive any performance objectives or other vesting provisions for such Performance Award.

 

    	 	 11	 

     

    

 

 

10.4        Form
and Timing of Payment. Payment of earned Performance Awards will be made at the time(s) determined by the Administrator and
set forth in the Award Agreement. The Administrator, in its sole discretion, may settle earned Performance Awards in cash, Shares,
or a combination of both.

 

10.5        Cancellation
of Performance Awards. On the date set forth in the Award Agreement, all unearned or unvested Performance Awards will be forfeited
to the Company, and again will be available for grant under the Plan.

 

11.         Outside
Director Award Limitations. No Outside Director may be granted, in any Fiscal Year, equity awards (including any Awards granted
under this Plan), the value of which will be based on their grant date fair value determined in accordance with U.S. generally
accepted accounting principles, and be provided any other compensation (including without limitation any cash retainers or fees)
in amounts that, in the aggregate, exceed $200,000, provided that such amount is increased to $300,000 in the Fiscal Year of such
individual’s initial service as an Outside Director. Any Awards granted or other compensation provided to an individual (a)
for such individual’s services as an Employee, or for such individual’s services as a Consultant (other than as an
Outside Director), or (b) prior to the Registration Date, will be excluded for purposes of this Section 11.

 

12.         Compliance
With Section 409A. Awards will be designed and operated in such a manner that they are either exempt from the application of,
or comply with, the requirements of Section 409A such that the grant, payment, settlement or deferral will not be subject to the
additional tax or interest applicable under Section 409A, except as otherwise determined in the sole discretion of the Administrator.
The Plan and each Award Agreement under the Plan is intended to be exempt from or meet the requirements of Section 409A and will
be construed and interpreted in accordance with such intent (including with respect to any ambiguities or ambiguous terms), except
as otherwise determined in the sole discretion of the Administrator. To the extent that an Award or payment, or the settlement
or deferral thereof, is subject to Section 409A the Award will be granted, paid, settled or deferred in a manner that will meet
the requirements of Section 409A, such that the grant, payment, settlement or deferral will not be subject to the additional tax
or interest applicable under Section 409A. In no event will the Company or any of its Parent or Subsidiaries have any responsibility,
liability, or obligation to reimburse, indemnify, or hold harmless a Participant (or any other person) in respect of Awards, for
any taxes, penalties or interest that may be imposed on, or other costs incurred by, Participant (or any other person) as a result
of Section 409A.

 

13.          Leaves
of Absence/Transfer Between Locations. Unless the Administrator provides otherwise or as otherwise required by Applicable Laws,
vesting of Awards granted hereunder will be suspended during any unpaid leave of absence. A Participant will not cease to be an
Employee in the case of (a) any leave of absence approved by the Company or (b) transfers between locations of the Company or between
the Company, its Parent, or any of its Subsidiaries. For purposes of Incentive Stock Options, no such leave may exceed three (3)
months, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration
of a leave of absence approved by the Company is not so guaranteed, then six (6) months following the first (1st) day
of such leave, any Incentive Stock Option held by the Participant will cease to be treated as an Incentive Stock Option and will
be treated for tax purposes as a Non-statutory Stock Option.

   

14.          Limited
Transferability of Awards. Unless determined otherwise by the Administrator, Awards may not be sold, pledged, assigned, hypothecated,
transferred, or disposed of in any manner other than by will or by the laws of descent and distribution (which, for purposes of
clarification, shall be deemed to include through a beneficiary designation if available in accordance with Section 6.6.4), and
may be exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes an Award transferable,
such Award will contain such additional terms and conditions as the Administrator deems appropriate.

 

15.          Adjustments;
Dissolution or Liquidation; Merger or Change in Control.

 

15.1       Adjustments.
In the event 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, reclassification,
repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company
affecting the Shares occurs (other than any ordinary dividends or other ordinary distributions), the Administrator, in order to
prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Plan, will adjust
the number and class of shares of stock that may be delivered under the Plan and/or the number, class, and price of shares of stock
covered by each outstanding Award, and numerical Share limits in Section 3.

 

    	 	 12	 

     

    

 

15.2       Dissolution
or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Administrator will notify each
Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent it has not been previously
exercised, an Award will terminate immediately prior to the consummation of such proposed action.

 

15.3       Merger
or Change in Control. In the event of a merger of the Company with or into another corporation or other entity or a Change
in Control, each outstanding Award will be treated as the Administrator determines (subject to the provisions of the following
paragraph) without a Participant’s consent, including, without limitation, that (a) Awards will be assumed, or substantially
equivalent awards will be substituted, by the acquiring or successor corporation (or an affiliate thereof) with appropriate adjustments
as to the number and kind of shares and prices; (b) upon written notice to a Participant, that the Participant’s Awards will
terminate upon or immediately prior to the consummation of such merger or Change in Control; (c) outstanding Awards will vest and
become exercisable, realizable, or payable, or restrictions applicable to an Award will lapse, in whole or in part prior to or
upon consummation of such merger or Change in Control, and, to the extent the Administrator determines, terminate upon or immediately
prior to the effectiveness of such merger or Change in Control; (d) (i) the termination of an Award in exchange for an amount of
cash and/or property, if any, equal to the amount that would have been attained upon the exercise of such Award or realization
of the Participant’s rights as of the date of the occurrence of the transaction (and, for the avoidance of doubt, if as of
the date of the occurrence of the transaction the Administrator 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), or (ii) the replacement of such Award with other rights or property selected by the Administrator in its sole
discretion; or (e) any combination of the foregoing. In taking any of the actions permitted under this Section 15.3, the Administrator
will not be obligated to treat all Awards, all Awards held by a Participant, all Awards of the same type, or all portions of Awards,
similarly.

 

In the event that the
acquiring or successor corporation (or an affiliate thereof) does not assume the Award (or portion thereof) as described below
or substitute for the Award (or portion thereof) as described above, then the Participant will fully vest in and have the right
to exercise his or her outstanding Options and Stock Appreciation Rights (or portions thereof) not assumed or substituted for,
including Shares as to which such Awards would not otherwise be vested or exercisable, all restrictions on Restricted Stock, Restricted
Stock Units, or Performance Awards (or portions thereof) not assumed or substituted for will lapse, and, with respect to Awards
with performance-based vesting (or portions thereof) not assumed or substituted for, all performance goals or other vesting criteria
will be deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions met, in each case, unless
specifically provided otherwise under the applicable Award Agreement or other written agreement authorized by the Administrator
between the Participant and the Company or any of its Subsidiaries or Parents, as applicable. In addition, unless specifically
provided otherwise under the applicable Award Agreement or other written agreement authorized by the Administrator between the
Participant and the Company or any of its Subsidiaries or Parents, as applicable, if an Option or Stock Appreciation Right (or
portion thereof) is not assumed or substituted in the event of a merger or Change in Control, the Administrator will notify the
Participant in writing or electronically that the Option or Stock Appreciation Right (or its applicable portion) will be exercisable
for a period of time determined by the Administrator in its sole discretion, and the Option or Stock Appreciation Right (or its
applicable portion) will terminate upon the expiration of such period.

 

For the purposes of this
Section 15.3 and Section 15.4 below, an Award will be considered assumed if, following the merger or Change in Control, the Award
confers the right to purchase or receive, for each Share subject to the Award immediately prior to the merger or Change in Control,
the consideration (whether stock, cash, or other securities or property) received in the merger or Change in Control by holders
of Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration,
the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration
received in the merger or Change in Control is not solely common stock of the successor corporation or its Parent, the Administrator
may, with the consent of the successor corporation, provide for the consideration to be received upon the exercise of an Option
or Stock Appreciation Right or upon the payout of a Restricted Stock Unit or Performance Award, for each Share subject to such
Award, to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration
received by holders of Common Stock in the merger or Change in Control.

 

    	 	 13	 

     

    

 

Notwithstanding anything
in this Section 15.3 to the contrary, an Award that vests, is earned or paid-out upon the satisfaction of one or more performance
goals will not be considered assumed if the Company or its successor modifies any of such performance goals without the Participant’s
consent, in all cases, unless specifically provided otherwise under the applicable Award Agreement or other written agreement authorized
by the Administrator between the Participant and the Company or any of its Subsidiaries or Parents, as applicable; provided, however,
a modification to such performance goals only to reflect the successor corporation’s post-Change in Control corporate structure
will not be deemed to invalidate an otherwise valid Award assumption. 

 

Notwithstanding anything
in this Section 15.3 to the contrary, and unless otherwise provided in an Award Agreement, if an Award that vests, is earned or
paid-out under an Award Agreement is subject to Section 409A and if the change in control definition contained in the Award Agreement
(or other agreement related to the Award, as applicable) does not comply with the definition of “change in control”
for purposes of a distribution under Section 409A, then any payment of an amount that is otherwise accelerated under this Section
15.3 will be delayed until the earliest time that such payment would be permissible under Section 409A without triggering any penalties
applicable under Section 409A.

 

15.4        Outside
Director Awards. With respect to Awards granted to an Outside Director, in the event of a Change in Control, the Participant
will fully vest in and have the right to exercise Options and/or Stock Appreciation Rights as to all of the Shares underlying such
Award, including those Shares which would not be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock
Units will lapse, and, with respect to Awards with performance-based vesting, all performance goals or other vesting criteria will
be deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions met, unless specifically provided
otherwise under the applicable Award Agreement or other written agreement between the Participant and the Company or any of its
Subsidiaries or Parents, as applicable.

 

16.          Tax
Withholding.

 

16.1       Withholding
Requirements. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise thereof) or such earlier time as
any tax withholdings are due, the Company (or any of its Parent, Subsidiaries, or affiliates employing or retaining the services
of a Participant, as applicable) will have the power and the right to deduct or withhold, or require a Participant to remit to
the Company (or any of its Parent, Subsidiaries, or affiliates, as applicable) or a relevant tax authority, an amount sufficient
to satisfy U.S. federal, state, local, non-U.S., and other taxes (including the Participant’s FICA or other social insurance
contribution obligation) required to be withheld or paid with respect to such Award (or exercise thereof).

 

16.2       Withholding
Arrangements. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time,
may permit a Participant to satisfy such tax liability or withholding obligation, in whole or in part by such methods as the Administrator
shall determine, including, without limitation, (a) paying cash, check or other cash equivalents, (b) electing to have the Company
withhold otherwise deliverable cash or Shares having a fair market value equal to the minimum statutory amount required to be withheld
or such greater amount as the Administrator may determine if such amount would not have adverse accounting consequences, as the
Administrator determines in its sole discretion, (c) delivering to the Company already-owned Shares having a fair market value
equal to the minimum statutory amount required to be withheld or such greater amount as the Administrator may determine, in each
case, provided the delivery of such Shares will not result in any adverse accounting consequences, as the Administrator determines
in its sole discretion, (d) selling a sufficient number of Shares otherwise deliverable to the Participant through such means as
the Administrator may determine in its sole discretion (whether through a broker or otherwise) equal to the amount required to
be withheld or paid, (e) such other consideration and method of payment for the meeting of tax liabilities or withholding obligations
as the Administrator may determine to the extent permitted by Applicable Laws, or (f) any combination of the foregoing methods
of payment. The amount of the withholding obligation will be deemed to include any amount which the Administrator agrees may be
withheld at the time the election is made, not to exceed the amount determined by using the maximum federal, state or local marginal
income tax rates applicable to the Participant with respect to the Award on the date that the amount of tax to be withheld is to
be determined or such greater amount as the Administrator may determine if such amount would not have adverse accounting consequences,
as the Administrator determines in its sole discretion. The fair market value of the Shares to be withheld or delivered will be
determined as of the date that the taxes are required to be withheld.

 

    	 	 14	 

     

    

 

17.          No
Effect on Employment or Service. Neither the Plan nor any Award will confer upon a Participant any right with respect to continuing
the Participant’s relationship as a Service Provider with the Company or its Subsidiaries or Parents, as applicable, nor
will they interfere in any way with the Participant’s right or the right of the Company and its Subsidiaries or Parents,
as applicable, to terminate such relationship at any time, free from any liability or claim under the Plan.

 

18.          Date
of Grant. The date of grant of an Award will be, for all purposes, the date on which the Administrator makes the determination
granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided
to each Participant within a reasonable time after the date of such grant.

 

19.          Effective
Date; Term of Plan. Subject to Section 23 of the Plan, the Plan will become effective upon the later to occur of (i) its adoption
by the Board or (ii) the business day immediately prior to the Registration Date. It will continue in effect until terminated under
Section 20, but no Incentive Stock Options may be granted after 10 years from the date adopted by the Board and Section 3.2 will
operate only until the 10th anniversary of the date the Plan is adopted by the Board.

 

20.          Amendment
and Termination of the Plan.

 

20.1       Amendment
and Termination. The Administrator, in its sole discretion, may amend, alter, suspend or terminate the Plan, or any part thereof,
at any time and for any reason.

 

20.2       Stockholder
Approval. The Company will obtain stockholder approval of any Plan amendment to the extent necessary and desirable to comply
with Applicable Laws.

 

20.3       Effect
of Amendment or Termination. No amendment, alteration, suspension or termination of the Plan will materially impair the rights
of any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in
writing and signed by the Participant and the Company. Termination of the Plan will not affect the Administrator’s ability
to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination.

 

21.          Conditions
Upon Issuance of Shares.

 

21.1       Legal
Compliance. Shares will not be issued pursuant to an Award unless the exercise or vesting of such Award and the issuance and
delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the Company
with respect to such compliance.

 

21.2       Investment
Representations. As a condition to the exercise or vesting of an Award, the Company may require the person exercising or vesting
in such Award to represent and warrant at the time of any such exercise or vesting that the Shares are being acquired only for
investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such
a representation is required.

 

22.           Inability
to Obtain Authority. If the Company determines it to be impossible or impractical to obtain authority from any regulatory body
having jurisdiction or to complete or comply with the requirements of any registration or other qualification of the Shares under
any U.S. state or federal law or non-U.S. law or under the rules and regulations of the U.S. Securities and Exchange Commission,
the stock exchange on which Shares of the same class are then listed, or any other governmental or regulatory body, which authority,
registration, qualification or rule compliance is deemed by the Company’s counsel to be necessary or advisable for the issuance
and sale of any Shares hereunder, the Company will be relieved of any liability in respect of the failure to issue or sell such
Shares as to which such requisite authority, registration, qualification or rule compliance will not have been obtained.

 

    	 	 15	 

     

    

 

23.           Stockholder
Approval. The Plan will be subject to approval by the stockholders of the Company within twelve (12) months after the date
the Plan is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required under Applicable
Laws.

 

24.      
   Forfeiture Events. The Administrator may specify in an Award Agreement that the Participant’s
rights, payments, and benefits with respect to an Award will be subject to the reduction, cancellation, forfeiture,
recoupment, reimbursement, or reacquisition upon the occurrence of certain specified events, in addition to any otherwise
applicable vesting or performance conditions of an Award. Such events may include, without limitation, termination of such
Participant’s status as an employee and/or other service provider for cause or any specified action or inaction by a
Participant, whether before or after such termination of employment and/or other service, that would constitute cause for
termination of such Participant’s status as an employee and/or other service provider. Notwithstanding any provisions
to the contrary under this Plan, all Awards granted under the Plan will be subject to reduction, cancellation,
forfeiture, recoupment, reimbursement, or reacquisition under any clawback policy that the Company is required to adopt
pursuant to the listing standards of any national securities exchange or association on which the Company’s securities
are listed or as is otherwise required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or other Applicable
Laws (the “Clawback Policy”). The Administrator may require a Participant to forfeit, or return to
the Company, or reimburse the Company for, all or a portion of the Award and any amounts paid thereunder pursuant to the
terms of the Clawback Policy or as necessary or appropriate to comply with Applicable Laws, including without limitation any
reacquisition right regarding previously acquired Shares or other cash or property. Unless this Section 24 specifically is
mentioned and waived in an Award Agreement or other document, no recovery of compensation under a Clawback Policy or
otherwise will constitute an event that triggers or contributes to any right of a Participant to resign for “good
reason” or “constructive termination” (or similar term) under any agreement with the Company or any Parent
or Subsidiary of the Company.

 

*            *
           *

 

    	 	 16

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