Document:

Exhibit 10.17

 

EMBARK TECHNOLOGY,
INC.

2021 EMPLOYEE STOCK PURCHASE PLAN

 

Article
I.

PURPOSE

 

The purpose of this Plan is
to assist Eligible Employees of the Company and its Designated Subsidiaries in acquiring a stock ownership interest in the Company.

 

The Plan consists of two components:
(i) the Section 423 Component and (ii) the Non-Section 423 Component. The Section 423 Component is intended to qualify as an “employee
stock purchase plan” under Section 423 of the Code and shall be administered, interpreted and construed in a manner consistent
with the requirements of Section 423 of the Code. The Non-Section 423 Component authorizes the grant of rights which need not qualify
as rights granted pursuant to an “employee stock purchase plan” under Section 423 of the Code. Rights granted under the Non-Section
423 Component shall be granted pursuant to separate Offerings containing such sub-plans, appendices, rules or procedures as may be adopted
by the Administrator and designed to achieve tax, securities laws or other objectives for Eligible Employees and Designated Subsidiaries
but shall not be intended to qualify as an “employee stock purchase plan” under Section 423 of the Code. Except as otherwise
determined by the Administrator or provided herein, the Non-Section 423 Component will operate and be administered in the same manner
as the Section 423 Component. Offerings intended to be made under the Non-Section 423 Component will be designated as such by the Administrator
at or prior to the time of such Offering.

 

For purposes of this Plan,
the Administrator may designate separate Offerings under the Plan in which Eligible Employees will participate. The terms of these Offerings
need not be identical, even if the dates of the applicable Offering Period(s) in each such Offering are identical, provided that the terms
of participation are the same within each separate Offering under the Section 423 Component (as determined under Section 423 of the Code).
Solely by way of example and without limiting the foregoing, the Company could, but shall not be required to, provide for simultaneous
Offerings under the Section 423 Component and the Non-Section 423 Component of the Plan.

 

Article
II.

DEFINITIONS AND CONSTRUCTION

 

Wherever the following terms are used in the Plan
they shall have the meanings specified below, unless the context clearly indicates otherwise.

 

2.1              
“Administrator” means the entity that conducts the general administration of the Plan as provided in
Article XI.

 

2.2              
“Agent” means the brokerage firm, bank or other financial institution,
entity or person(s), if any, engaged, retained, appointed or authorized to act as the agent of the Company
or an Employee with regard to the Plan.

 

2.3              
“Applicable Law” means the requirements relating to the administration of equity incentive plans under
U.S. federal and state securities, tax and other applicable laws, rules and regulations, the applicable rules of any stock exchange or
quotation system on which Shares are listed or quoted and the applicable laws and rules of any foreign country or other jurisdiction where
rights under this Plan are granted.

 

2.4              
“Board” means the Board of Directors of the Company.

 

     

     

    

 

2.5              
 “Code” means the U.S. Internal Revenue Code of 1986, as amended, and the regulations issued thereunder.

 

2.6              
“Common Stock” means common stock of the Company and such other securities of the Company that may be
substituted therefore.

 

2.7              
“Company” means Embark Technology, Inc., a Delaware corporation, or any successor.

 

2.8              
“Compensation” of an Eligible Employee means, unless otherwise determined by the Administrator, the gross
base compensation or wages received by such Eligible Employee as compensation for services to the Company or any Designated Subsidiary,
excluding overtime payments, sales commissions, incentive compensation, bonuses, expense reimbursements, income received in connection
with any compensatory equity awards, fringe benefits and other special payments.

 

2.9              
“Designated Subsidiary” means any Subsidiary designated by the Administrator in accordance with Section
11.2(b), such designation to specify whether such participation is in the Section 423 Component or Non-Section 423 Component. A Designated
Subsidiary may participate in either the Section 423 Component or Non-Section 423 Component, but not both; provided that a Subsidiary
that, for U.S. tax purposes, is disregarded from the Company or any Subsidiary that participates in the Section 423 Component shall automatically
constitute a Designated Subsidiary that participates in the Section 423 Component.

 

2.10          
“Effective Date” means the date on which the transactions contemplated by that certain
Agreement and Plan of Merger, by and among Northern Genesis Acquisition Corp. II, NGAB Merger Sub Inc. and Embark Trucks Inc., dated as
of June 22, 2021 as amended from time to time, are consummated, provided that the Board has adopted the Plan prior to or on such
date, subject to approval of the Plan by the Company’s stockholders.

 

2.11          
“Eligible Employee” means:

 

(a)               
an Employee who does not, immediately after any rights under this Plan are granted, own (directly or through attribution) stock
possessing 5% or more of the total combined voting power or value of all classes of Shares and other securities of the Company, a Parent
or a Subsidiary (as determined under Section 423(b)(3) of the Code). For purposes of the foregoing, the rules of Section 424(d) of the
Code with regard to the attribution of stock ownership shall apply in determining the stock ownership of an individual, and stock that
an Employee may purchase under outstanding options shall be treated as stock owned by the Employee.

 

(b)                Notwithstanding
the foregoing, the Administrator may provide in an Offering Document that an Employee shall not be eligible to participate in an
Offering Period under the Section 423 Component if: (i) such Employee is a highly compensated employee within the meaning of
Section 423(b)(4)(D) of the Code; (ii) such Employee has not met a service requirement designated by the Administrator pursuant
to Section 423(b)(4)(A) of the Code (which service requirement may not exceed two years); (iii) such Employee’s customary
employment is for twenty hours per week or less; (iv) such Employee’s customary employment is for less than five months in any
calendar year; and/or (v) such Employee is a citizen or resident of a foreign jurisdiction and the grant of a right to purchase
Shares under the Plan to such Employee would be prohibited under the laws of such foreign jurisdiction or the grant of a right to
purchase Shares under the Plan to such Employee in compliance with the laws of such foreign jurisdiction would cause the Plan to
violate the requirements of Section 423 of the Code, as determined by the Administrator in its sole discretion; provided, further,
that any exclusion in clauses (i), (ii), (iii), (iv) or (v) shall be applied in an identical manner under each Offering Period to
all Employees, in accordance with Treasury Regulation Section 1.423-2(e).

 

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(c)               
Further notwithstanding the foregoing, with respect to the Non-Section 423 Component, the first sentence in this definition shall
apply in determining who is an “Eligible Employee,” except (i) the Administrator may limit eligibility further within the
Company or a Designated Subsidiary so as to only designate some Employees of the Company or a Designated Subsidiary as Eligible Employees,
and (ii) to the extent the restrictions in the first sentence in this definition are not consistent with applicable local laws, the applicable
local laws shall control.

 

2.12          
 “Employee” means any individual who renders services to the Company or any Designated Subsidiary in
the status of an employee, and, with respect to the Section 423 Component, a person who is an employee within the meaning of Section 3401(c)
of the Code. For purposes of an individual’s participation in, or other rights under the Plan, all determinations by the Company
shall be final, binding and conclusive, notwithstanding that any court of law or governmental agency subsequently makes a contrary determination.
For purposes of the Plan, the employment relationship shall be treated as continuing intact while the individual is on sick leave or other
leave of absence approved by the Company or Designated Subsidiary and meeting the requirements of Treasury Regulation Section 1.421-1(h)(2).
Where the period of leave exceeds three (3) months and the individual’s right to reemployment is not guaranteed either by statute
or by contract, the employment relationship shall be deemed to have terminated on the first day immediately following such three (3)-month
period.

 

2.13          
“Enrollment Date” means the first Trading Day of each Offering Period.

 

2.14          
“Fair Market Value” means, as of any date, the value of Shares determined as follows: (i) if the
Shares are listed on any established stock exchange, its Fair Market Value will be the closing sales price for such Shares as quoted on
such exchange for such date, or if no sale occurred on such date, the last day preceding such date during which a sale occurred, as reported
in The Wall Street Journal or another source the Administrator deems reliable; (ii) if the Shares are not traded on a stock exchange
but are quoted on a national market or other quotation system, the closing sales price on such date, or if no sales occurred on such date,
then on the last date preceding such date during which a sale occurred, as reported in The Wall Street Journal or another source the Administrator
deems reliable; or (iii) without an established market for the Shares, the Administrator will determine the Fair Market Value in its discretion.

 

2.15          
“Non-Section 423 Component” means those Offerings under the Plan, together with the sub-plans, appendices,
rules or procedures, if any, adopted by the Administrator as a part of this Plan, in each case, pursuant to which rights to purchase Shares
during an Offering Period may be granted to Eligible Employees that need not satisfy the requirements for rights to purchase Shares granted
pursuant to an “employee stock purchase plan” that are set forth under Section 423 of the Code.

 

2.16          
“Offering” means an offer under the Plan of a right to purchase Shares that may be exercised during an
Offering Period as further described in Article IV hereof. Unless otherwise specified by the Administrator, each Offering to the Eligible
Employees of the Company or a Designated Subsidiary shall be deemed a separate Offering, even if the dates and other terms of the applicable
Offering Periods of each such Offering are identical, and the provisions of the Plan will separately apply to each Offering. To the extent
permitted by Treas. Reg. § 1.423-2(a)(1), the terms of each separate Offering under the Section 423 Component need not be identical,
provided that the terms of the Section 423 Component and an Offering thereunder together satisfy Treas. Reg. § 1.423-2(a)(2) and
(a)(3).

 

2.17          
“Offering Document” has the meaning given to such term in Section 4.1.

 

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2.18          
 “Offering Period” has the meaning given to such term in Section 4.1.

 

2.19          
“Parent” means any corporation, other than the Company, in an unbroken chain of corporations ending with
the Company if, at the time of the determination, each of the corporations other than the Company owns stock possessing 50% or more of
the total combined voting power of all classes of stock in one of the other corporations in such chain.

 

2.20          
“Participant” means any Eligible Employee who has executed a subscription agreement and been granted
rights to purchase Shares pursuant to the Plan.

 

2.21          
“Payday” means the regular and recurring established day for payment of Compensation
to an Employee of the Company or any Designated
Subsidiary.

 

2.22          
“Plan” means this 2021 Employee Stock Purchase Plan, including both the Section 423 Component and Non-Section
423 Component and any other sub-plans or appendices hereto, as amended from time to time.

 

2.23          
“Purchase Date” means the last Trading Day of each Purchase Period or such other date as determined by
the Administrator and set forth in the Offering Document.

 

2.24          
“Purchase Period” shall refer to one or more periods within an Offering Period, as designated in the
applicable Offering Document; provided, however, that, in the event no purchase period is designated by the Administrator
in the applicable Offering Document, the purchase period for each Offering Period covered by such Offering Document shall be the same
as the applicable Offering Period.

 

2.25          
“Purchase Price” means the purchase price designated by the Administrator in the applicable Offering
Document (which purchase price, for purposes of the Section 423 Component, shall not be less than 85% of the Fair Market Value of a Share
on the Enrollment Date or on the Purchase Date, whichever is lower); provided, however, that, in the event no purchase price
is designated by the Administrator in the applicable Offering Document, the purchase price for the Offering Periods covered by such Offering
Document shall be 85% of the Fair Market Value of a Share on the Enrollment Date or on the Purchase Date, whichever is lower; provided,
further, that the Purchase Price may be adjusted by the Administrator pursuant to Article VIII and shall not be less than
the par value of a Share.

 

2.26          
“Section 423 Component” means those Offerings under the Plan, together with the sub-plans, appendices,
rules or procedures, if any, adopted by the Administrator as a part of this Plan, in each case, pursuant to which rights to purchase Shares
during an Offering Period may be granted to Eligible Employees that are intended to satisfy the requirements for rights to purchase Shares
granted pursuant to an “employee stock purchase plan” that are set forth under Section 423 of the Code.

 

2.27          
“Securities Act” means the U.S. Securities Act of 1933, as amended.

 

2.28          
“Share” means a share of Common Stock.

 

2.29           “Subsidiary”
means any corporation, other than the Company, in an unbroken chain of corporations beginning with the Company if, at the time of
the determination, each of the corporations other than the last corporation in an unbroken chain owns stock possessing 50% or more
of the total combined voting power of all classes of stock in one of the other corporations in such chain; provided, however,
that a limited liability company or partnership may be treated as a Subsidiary to the extent either (a) such entity is treated as a
disregarded entity under Treasury Regulation Section 301.7701-3(a) by reason of the Company or any other Subsidiary that is a
corporation being the sole owner of such entity, or (b) such entity elects to be classified as a corporation under Treasury
Regulation Section 301.7701-3(a) and such entity would otherwise qualify as a Subsidiary. In addition, with respect to the
Non-Section 423 Component, Subsidiary shall
include any corporate or non-corporate entity in which the Company has a direct or indirect
equity interest or significant business relationship.

 

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2.30          
“Trading Day” means a day on which national stock exchanges in the United States are open for trading.

 

2.31          
“Treas. Reg.” means U.S. Department of the Treasury regulations.

 

Article
III.

SHARES SUBJECT TO THE PLAN

 

3.1              
Number of Shares. Subject to Article VIII, the aggregate number of Shares that may be
issued pursuant to rights granted under the Plan shall be 11,742,707 Shares. In addition to the foregoing, subject to Article VIII, on
the first day of each calendar year beginning on January 1, 2022 and ending on and including January 1, 2031, the number of Shares available
for issuance under the Plan shall be increased by that number of Shares equal to the lesser of (a) one percent (1%) of the aggregate number
of shares of Common Stock of the Company outstanding on the final day of the immediately preceding calendar year and (b) such smaller
number of Shares as determined by the Board. If any right granted under the Plan shall for any reason terminate without having been exercised,
the Shares not purchased under such right shall again become available for issuance under the Plan. Notwithstanding anything in this Section 3.1
to the contrary, the number of Shares that may be issued or transferred pursuant to the rights granted under the Section 423 Component
of the Plan shall not exceed an aggregate of 117,427,070 Shares, subject to Article VIII.

 

3.2              
Shares Distributed. Any Shares distributed pursuant to the Plan may consist, in whole or in
part, of authorized and unissued Shares, treasury shares or Shares purchased on the open market.

 

Article
IV.

Offering Periods; Offering Documents; Purchase Dates

 

4.1              
Offering Periods. The Administrator may from time to time grant or provide for the grant of
rights to purchase Shares under the Plan to Eligible Employees during one or more periods (each, an “Offering Period”)
selected by the Administrator. The terms and conditions applicable to each Offering Period shall be set forth in an “Offering
Document” adopted by the Administrator, which Offering Document shall be in such form and shall contain such terms and conditions
as the Administrator shall deem appropriate and shall be incorporated by reference into and made part of the Plan and shall be attached
hereto as part of the Plan. The provisions of separate Offerings or Offering Periods under the Plan need not be identical.

 

4.2              
Offering Documents. Each Offering Document with respect to an Offering Period shall specify
(through incorporation of the provisions of this Plan by reference or otherwise):

 

(a)               
the length of the Offering Period, which period shall not exceed twenty-seven months;

 

(b)               
the maximum number of Shares that may be purchased by any Eligible Employee during such Offering Period, which, in the absence
of a contrary designation by the Administrator, shall be 15,000 Shares; and

 

(c)               
 such other provisions as the Administrator determines are appropriate, subject to the Plan.

 

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Article
V.

ELIGIBILITY AND PARTICIPATION

 

5.1              
Eligibility. Any Eligible Employee who shall be employed by the Company or a Designated Subsidiary
on a given Enrollment Date for an Offering Period shall be eligible to participate in the Plan during such Offering Period, subject to
the requirements of this Article V and, for the Section 423 Component, the limitations imposed by Section 423(b) of the Code.

 

5.2              
Enrollment in Plan.

 

(a)               
Except as otherwise set forth in an Offering Document or determined by the Administrator, an Eligible Employee may become a Participant
in the Plan for an Offering Period by delivering a subscription agreement to the Company by such time prior to the Enrollment Date for
such Offering Period (or such other date specified in the Offering Document) designated by the Administrator and in such form as the Company
provides.

 

(b)               
Each subscription agreement shall designate either (i) a whole percentage of such Eligible Employee’s Compensation or (ii)
a fixed dollar amount, in either case, to be withheld by the Company or the Designated Subsidiary employing such Eligible Employee on
each Payday during the Offering Period as payroll deductions under the Plan. In either event, the designated percentage or fixed dollar
amount may not be less than one percent (1%) and may not be more than the maximum percentage specified by the Administrator in the applicable
Offering Document (which percentage shall be twenty percent (20%) in the absence of any such designation) as payroll deductions. The payroll
deductions made for each Participant shall be credited to an account for such Participant under the Plan and shall be deposited with the
general funds of the Company.

 

(c)               
A Participant may increase or decrease the percentage of Compensation or the fixed dollar amount designated in his or her subscription
agreement, subject to the limits of this Section 5.2, or may suspend his or her payroll deductions, at any time during an Offering
Period; provided, however, that the Administrator may limit the number of changes a Participant may make to his or her payroll
deduction elections during each Offering Period in the applicable Offering Document (and in the absence of any specific designation by
the Administrator, a Participant shall be allowed to decrease (but not increase) his or her payroll deduction elections one time during
each Offering Period). Any such change or suspension of payroll deductions shall be effective with the first full payroll period following
ten business days after the Company’s receipt of the new subscription agreement (or such shorter or longer period as may be specified
by the Administrator in the applicable Offering Document). In the event a Participant suspends his or her payroll deductions, such Participant’s
cumulative payroll deductions prior to the suspension shall remain in his or her account and shall be applied to the purchase of Shares
on the next occurring Purchase Date and shall not be paid to such Participant unless he or she withdraws from participation in the Plan
pursuant to Article VII.

 

(d)               
Except as otherwise set forth in an Offering Document or determined by the Administrator, a Participant may participate in the
Plan only by means of payroll deduction and may not make contributions by lump sum payment for any Offering Period.

 

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5.3               Payroll
Deductions. Except as otherwise provided in the applicable Offering Document, payroll deductions
for a Participant shall commence on the first Payday following the Enrollment Date and shall end on the last Payday in the Offering
Period to which the Participant’s authorization is applicable, unless sooner terminated by the Participant as provided
in Article VII or suspended by the Participant or the Administrator as provided in Section 5.2
and Section 5.6, respectively. Notwithstanding any other provisions of the Plan to the contrary, in non-U.S. jurisdictions where
participation in the Plan through payroll deductions is prohibited, the Administrator may provide that an Eligible Employee may
elect to participate through contributions to the Participant’s account under the Plan in a form acceptable to the
Administrator in lieu of or in addition to payroll deductions; provided, however, that, for any Offering under the Section 423
Component, the Administrator shall take into consideration any limitations under Section 423 of the Code when applying an
alternative method of contribution.

 

5.4              
Effect of Enrollment. A Participant’s completion of a subscription agreement will enroll
such Participant in the Plan for each subsequent Offering Period on the terms contained therein until the Participant either submits a
new subscription agreement, withdraws from participation under the Plan as provided in Article VII or otherwise becomes ineligible
to participate in the Plan. 

 

5.5              
Limitation on Purchase of Shares. An Eligible Employee
may be granted rights under the Section 423 Component only if such rights, together with any other rights granted to such Eligible Employee
under “employee stock purchase plans” of the Company, any Parent or any Subsidiary, as specified by Section 423(b)(8) of the
Code, do not permit such employee’s rights to purchase stock of the Company or any Parent or Subsidiary to accrue at a rate that
exceeds the maximum fair market value of such stock (determined as of the first day of the Offering Period during which such rights are
granted) for each calendar year in which such rights are outstanding at any time that shall be applied in accordance with Section 423(b)(8)
of the Code, as may be amended. As of the Effective Date, the maximum fair market value under Section 423(b)(8) of the Code is $25,000.

 

5.6              
Suspension of Payroll Deductions. Notwithstanding the foregoing, to the extent necessary to
comply with Section 423(b)(8) of the Code and Section 5.5 (with respect to the Section 423 Component) or the other limitations set
forth in this Plan, a Participant’s payroll deductions may be suspended by the Administrator at any time during an Offering Period.
The balance of the amount credited to the account of each Participant that has not been applied to the purchase of Shares by reason of
Section 423(b)(8) of the Code, Section 5.5 or the other limitations set forth in this Plan shall be paid to such Participant in one
lump sum in cash as soon as reasonably practicable after the Purchase Date.

 

5.7              
Foreign Employees. In order to facilitate participation in the Plan, the Administrator may
provide for such special terms applicable to Participants who are citizens or residents a foreign jurisdiction, or who are employed by
a Designated Subsidiary outside of the United States, as the Administrator may consider necessary or appropriate to accommodate differences
in local law, tax policy or custom. Except as permitted by Section 423 of the Code, with respect to the Section 423 Component, such special
terms may not be more favorable than the terms of rights granted under the Section 423 Component to Eligible Employees who are residents
of the United States. Such special terms may be set forth in an addendum to the Plan in the form of an appendix or sub-plan (which appendix
or sub-plan may be designed to govern Offerings under the Section 423 Component or the Non-Section 423 Component, as determined by the
Administrator). To the extent that the terms and conditions set forth in an appendix or sub-plan conflict with any provisions of the Plan,
the provisions of the appendix or sub-plan shall govern. The adoption of any such appendix or sub-plan shall be pursuant to Section 11.2(g).
Without limiting the foregoing, the Administrator is specifically authorized to adopt rules and procedures, with respect to Participants
who are foreign nationals or employed in non-U.S. jurisdictions, regarding the exclusion of particular Subsidiaries from participation
in the Plan, eligibility to participate, the definition of Compensation, handling of payroll deductions or other contributions by Participants,
payment of interest, conversion of local currency, data privacy security, payroll tax, withholding procedures, establishment of bank or
trust accounts to hold payroll deductions or contributions.

 

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5.8              
 Leave of Absence. During leaves of absence approved by the Company meeting the requirements
of Treasury Regulation Section 1.421-1(h)(2) under the Code, a Participant may continue participation in the Plan by making cash payments
to the Company on his or her normal Payday equal to the Participant’s authorized payroll deduction.

 

Article
VI.

grant and Exercise of rights

 

6.1              
Grant of Rights. On the Enrollment Date of each Offering Period, each Eligible Employee participating
in such Offering Period shall be granted a right to purchase the maximum number of Shares specified under Section 4.2, subject to
the limits in Section 5.5, and shall have the right to buy, on each Purchase Date during such Offering Period (at the applicable
Purchase Price), such number of whole Shares as is determined by dividing (a) such Participant’s payroll deductions accumulated
prior to such Purchase Date and retained in the Participant’s account as of the Purchase Date, by (b) the applicable Purchase Price
(rounded down to the nearest Share). The right shall expire on the earliest of: (x) the last Purchase Date of the Offering Period, (y)
the last day of the Offering Period, and (z) the date on which the Participant withdraws in accordance with Section 7.1 or Section 7.3.

 

6.2              
Exercise of Rights. On each Purchase Date, each Participant’s accumulated payroll deductions
and any other additional payments specifically provided for in the applicable Offering Document will be applied to the purchase of whole
Shares, up to the maximum number of Shares permitted pursuant to the terms of the Plan and the applicable Offering Document, at the Purchase
Price. No fractional Shares shall be issued upon the exercise of rights granted under the Plan, unless the Offering Document specifically
provides otherwise. Any cash in lieu of fractional Shares remaining after the purchase of whole Shares upon exercise of a purchase right
will be credited to a Participant’s account and carried forward and applied toward the purchase of whole Shares for the next following
Offering Period. Shares issued pursuant to the Plan may be evidenced in such manner as the Administrator may determine and may be issued
in certificated form or issued pursuant to book-entry procedures. 

 

6.3              
Pro Rata Allocation of Shares. If the Administrator determines that, on a given Purchase Date,
the number of Shares with respect to which rights are to be exercised may exceed (a) the number of Shares that were available for issuance
under the Plan on the Enrollment Date of the applicable Offering Period, or (b) the number of Shares available for issuance under the
Plan on such Purchase Date, the Administrator may in its sole discretion provide that the Company shall make a pro rata allocation of
the Shares available for purchase on such Enrollment Date or Purchase Date, as applicable, in as uniform a manner as shall be practicable
and as it shall determine in its sole discretion to be equitable among all Participants for whom rights to purchase Shares are to be exercised
pursuant to this Article VI on such Purchase Date, and shall either (i) continue all Offering Periods then in effect, or (ii) terminate
any or all Offering Periods then in effect pursuant to Article IX. The Company may make pro rata allocation of the Shares available
on the Enrollment Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional
Shares for issuance under the Plan by the Company’s stockholders subsequent to such Enrollment Date. The balance of the amount credited
to the account of each Participant that has not been applied to the purchase of Shares shall be paid to such Participant in one lump sum
in cash as soon as reasonably practicable after the Purchase Date or such earlier date as determined by the Administrator. 

 

6.4               Withholding.
At the time a Participant’s rights under the Plan are exercised, in whole or in part, or at the time some or all of the Shares
issued under the Plan is disposed of, the Participant must make adequate provision for the Company’s federal, state, or other
tax withholding obligations, if any, that arise upon the exercise of the right or the disposition of the Shares. At any time, the
Company may, but shall not be obligated to, withhold from the Participant’s Compensation or Shares received pursuant to the
Plan the amount necessary for the Company to meet applicable withholding obligations, including any withholding required to
make available to the Company any tax deductions or benefits attributable to sale or early disposition of Shares by the
Participant.

 

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6.5              
Conditions to Issuance of Shares. The Company shall not be required to issue or
deliver any certificate or certificates for, or make any book entries evidencing, Shares purchased upon the exercise of rights under the
Plan prior to fulfillment of all of the following conditions: (a) the admission of such Shares to listing on all stock exchanges, if any,
on which the Shares are then listed; (b) the completion of any registration or other qualification of such Shares under any state or federal
law or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory body, that the
Administrator shall, in its absolute discretion, deem necessary or advisable; (c) the obtaining of any approval or other clearance from
any state or federal governmental agency that the Administrator shall, in its absolute discretion, determine to be necessary or advisable;
(d) the payment to the Company of all amounts that it is required to withhold under federal, state or local law upon exercise of the rights,
if any; and (e) the lapse of such reasonable period of time following the exercise of the rights as the Administrator may from time to
time establish for reasons of administrative convenience. 

 

Article
VII.

WITHDRAWAL; CESSATION OF ELIGIBILITY

 

7.1              
Withdrawal. A Participant may withdraw all but not less than all of the payroll deductions
credited to his or her account and not yet used to exercise his or her rights under the Plan at any time by giving written notice to the
Company in a form acceptable to the Company no later than one week prior to the end of the Offering Period (or
such shorter or longer period as may be specified by the Administrator in the applicable Offering Document). All of the Participant’s
payroll deductions credited to his or her account during an Offering Period shall be paid to such Participant as soon as reasonably practicable
after receipt of notice of withdrawal and such Participant’s rights for the Offering Period shall be automatically terminated, and
no further payroll deductions for the purchase of Shares shall be made for such Offering Period. If a Participant withdraws from an Offering
Period, payroll deductions shall not resume at the beginning of the next Offering Period unless the Participant timely delivers to the
Company a new subscription agreement.

 

7.2              
Future Participation. A Participant’s withdrawal from an Offering Period shall not have
any effect upon his or her eligibility to participate in any similar plan that may hereafter be adopted by the Company or a Designated
Subsidiary or in subsequent Offering Periods that commence after the termination of the Offering Period from which the Participant withdraws.

 

7.3               Cessation
of Eligibility. Upon a Participant’s ceasing to be an Eligible Employee for any reason, he
or she shall be deemed to have elected to withdraw from the Plan pursuant to this Article VII and the payroll deductions
credited to such Participant’s account during the Offering Period shall be paid to such Participant or, in the case of his or
her death, to the person or persons entitled thereto under Section 12.4, as soon as reasonably practicable, and such
Participant’s rights for the Offering Period shall be automatically terminated. If a Participant transfers employment from the
Company or any Designated Subsidiary participating in the Section 423 Component to any Designated Subsidiary participating in the
Non-Section 423 Component, such transfer shall not be treated as a termination of employment, but the Participant shall immediately
cease to participate in the Section 423 Component; however, any contributions made for the Offering Period in which such transfer
occurs shall be transferred to the Non-Section 423 Component, and such Participant shall immediately join the then-current Offering
under the Non-Section 423 Component upon the same terms and conditions in effect for the Participant’s participation in the
Section 423 Component, except for such modifications otherwise applicable for Participants in such Offering. A Participant who
transfers employment from any Designated Subsidiary participating in the Non-Section 423 Component to the Company or any
Designated Subsidiary participating in the Section 423 Component shall not be treated as terminating the Participant’s
employment and shall remain a Participant in the Non-Section 423 Component until the earlier of (i) the end of the current Offering
Period under the Non-Section 423 Component or (ii) the Enrollment Date of the first Offering Period in which the Participant is
eligible to participate following such transfer. Notwithstanding the foregoing, the Administrator may establish different rules to
govern transfers of employment between entities participating in the Section 423 Component and the Non-Section 423 Component,
consistent with the applicable requirements of Section 423 of the Code.

 

    9 

     

    

 

Article
VIII.

Adjustments upon Changes in SHARES

 

8.1              
Changes in Capitalization. Subject to Section 8.3, in the event that the Administrator determines
that any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), change in control,
reorganization, merger, amalgamation, consolidation, combination, repurchase, redemption, recapitalization, liquidation, dissolution,
or sale, transfer, exchange or other disposition of all or substantially all of the assets of the Company, or sale or exchange of Shares
or other securities of the Company, issuance of warrants or other rights to purchase Shares or other securities of the Company, or other
similar corporate transaction or event, as determined by the Administrator, affects the Shares such that an adjustment is determined by
the Administrator to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended by the
Company to be made available under the Plan or with respect to any outstanding purchase rights under the Plan, the Administrator shall
make equitable adjustments, if any, to reflect such change with respect to (a) the aggregate number and type of Shares (or other securities
or property) that may be issued under the Plan (including, but not limited to, adjustments of the limitations in Section 3.1 and
the limitations established in each Offering Document pursuant to Section 4.2 on the maximum number of Shares that may be purchased);
(b) the class(es) and number of Shares and price per Share subject to outstanding rights; and (c) the Purchase Price with respect to any
outstanding rights.

 

8.2              
Other Adjustments. Subject to Section 8.3, in the event of any transaction or event described
in Section 8.1 or any unusual or nonrecurring transactions or events affecting the Company, any affiliate of the Company, or the
financial statements of the Company or any affiliate (including without limitation, any change in control), or of changes in Applicable
Law or accounting principles, the Administrator, in its discretion, and on such terms and conditions as it deems appropriate, is hereby
authorized to take any one or more of the following actions whenever the Administrator determines that such action is appropriate in order
to prevent the dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or with respect
to any right under the Plan, to facilitate such transactions or events or to give effect to such changes in laws, regulations or principles:

 

(a)               
To provide for either (i) termination of any outstanding right in exchange for an amount of cash, if any, equal to the amount that
would have been obtained upon the exercise of such right had such right been currently exercisable or (ii) the replacement of such outstanding
right with other rights or property selected by the Administrator in its sole discretion;

 

(b)               
To provide that the outstanding rights under the Plan shall be assumed by the successor or survivor corporation, or a Parent or
Subsidiary thereof, or shall be substituted for by similar rights covering the stock of the successor or survivor corporation, or a Parent
or Subsidiary thereof, with appropriate adjustments as to the number and kind of shares and prices;

 

    10 

     

    

 

(c)               
 To make adjustments in the number and type of Shares (or other securities or property) subject to outstanding rights under the
Plan and/or in the terms and conditions of outstanding rights and rights that may be granted in the future;

 

(d)               
To provide that Participants’ accumulated payroll deductions may be used to purchase Shares prior to the next occurring Purchase
Date on such date as the Administrator determines in its sole discretion and the Participants’ rights under the ongoing Offering
Period(s) shall be terminated; and

 

(e)               
To provide that all outstanding rights shall terminate without being exercised.

 

8.3              
No Adjustment Under Certain Circumstances. Unless determined otherwise by the Administrator,
no adjustment or action described in this Article VIII or in any other provision of the Plan shall be authorized to the extent that
such adjustment or action would cause the Section 423 Component of the Plan to fail to satisfy the requirements of Section 423 of
the Code.

 

8.4              
No Other Rights. Except as expressly provided in the Plan, no Participant shall have any rights
by reason of any subdivision or consolidation of shares of stock of any class, the payment of any dividend, any increase or decrease in
the number of shares of stock of any class or any dissolution, liquidation, merger, or consolidation of the Company or any other corporation.
Except as expressly provided in the Plan or pursuant to action of the Administrator under the Plan, no issuance by the Company of shares
of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof
shall be made with respect to, the number of Shares subject to outstanding rights under the Plan or the Purchase Price with respect to
any outstanding rights.

 

Article
IX.

Amendment, modification and termination

 

9.1              
Amendment, Modification and Termination. The Administrator may amend, suspend or terminate
the Plan at any time and from time to time; provided, however, that approval of the Company’s stockholders
shall be required to amend the Plan to: (a) increase the aggregate number, or change the type, of shares that may be sold pursuant to
rights under the Plan under Section 3.1 (other than an adjustment as provided by Article VIII), (b) change the classes of corporations
whose employees may be granted rights under the Plan or (c) to the extent required under Applicable Law, taking into account the terms
hereof. 

 

9.2              
Certain Changes to Plan. Without stockholder consent and without regard to whether any Participant
rights may be considered to have been adversely affected (and, with respect to the Section 423 Component of the Plan, after taking into
account Section 423 of the Code), the Administrator shall be entitled to change or terminate the Offering Periods, add or revise Offering
Period share limits, limit the frequency and/or number of changes in the amount withheld from Compensation during an Offering Period,
establish the exchange ratio applicable to amounts withheld in a currency other than U.S. dollars, permit payroll withholding in excess
of the amount designated by a Participant in order to adjust for delays or mistakes in the Company’s processing of payroll withholding
elections, establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that amounts applied
toward the purchase of Shares for each Participant properly correspond with amounts withheld from the Participant’s Compensation,
and establish such other limitations or procedures as the Administrator determines in its sole discretion to be advisable that are consistent
with the Plan. 

 

    11 

     

    

 

9.3               Actions
In the Event of Unfavorable Financial Accounting Consequences. In the event the Administrator
determines that the ongoing operation of the Plan may result in unfavorable financial accounting consequences, the Administrator
may, in its discretion and, to the extent necessary or desirable, modify or amend the Plan to reduce or eliminate such
accounting consequence including, but not limited to:

 

(a)               
altering the Purchase Price for any Offering Period including an Offering Period underway at the time of the change in Purchase
Price;

 

(b)               
shortening any Offering Period so that the Offering Period ends on a new Purchase Date, including an Offering Period underway at
the time of the Administrator action; and

 

(c)               
allocating Shares.

 

Such modifications or amendments shall not require
stockholder approval or the consent of any Participant.

 

9.4              
Payments Upon Termination of Plan. Upon termination of the Plan, the balance in each Participant’s
Plan account shall be refunded as soon as practicable after such termination, without any interest thereon, or the Offering Period may
be shortened so that the purchase of Shares occurs prior to the termination of the Plan.

 

Article
X.

TERM OF PLAN

 

The Plan shall become effective
on the Effective Date. The effectiveness of the Section 423 Component of the Plan shall be subject to approval of the Plan by the Company’s
stockholders within twelve months following the date the Plan is first approved by the Board. No right may be granted under the Section
423 Component of the Plan prior to such stockholder approval. The Plan shall remain in effect until terminated under Section 9.1. No rights
may be granted under the Plan during any period of suspension of the Plan or after termination of the Plan.

 

Article
XI.

ADMINISTRATION

 

11.1          
Administrator. Unless otherwise determined by the Board, the Administrator of the Plan shall
be the Compensation Committee of the Board (or another committee or a subcommittee of the Board to which the Board delegates administration
of the Plan). The Board may at any time vest in the Board any authority or duties for administration of the Plan. The Administrator may
delegate administrative tasks under the Plan to the services of an Agent or Employees to assist in the administration of the Plan, including
establishing and maintaining an individual securities account under the Plan for each Participant.

 

11.2          
Authority of Administrator. The Administrator shall have the power, subject
to, and within the limitations of, the express provisions of the Plan:

 

(a)               
To determine when and how rights to purchase Shares shall be granted and the provisions of each offering of such rights (which
need not be identical), including any matching contribution of Shares by the Company or any Designated Subsidiary under any Non-Section
423 Component.

 

(b)               
To designate from time to time which Subsidiaries of the Company shall be Designated Subsidiaries, which designation may be made
without the approval of the stockholders of the Company.

 

    12 

     

    

 

(c)               
 To impose a mandatory holding period pursuant to which Employees may not dispose of or transfer Shares purchased under the Plan
for a period of time determined by the Administrator in its discretion.

 

(d)               
To construe and interpret the Plan and rights granted under it, and to establish, amend and revoke rules and regulations for its
administration. The Administrator, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan, in a
manner and to the extent it shall deem necessary or expedient to make the Plan fully effective.

 

(e)               
To amend, suspend or terminate the Plan as provided in Article IX.

 

(f)                
Generally, to exercise such powers and to perform such acts as the Administrator deems necessary or expedient to promote the best
interests of the Company and its Subsidiaries and to carry out the intent that the Plan be treated as an “employee stock purchase
plan” within the meaning of Section 423 of the Code for the Section 423 Component.

 

(g)               
The Administrator may adopt sub-plans applicable to particular Designated
Subsidiaries or locations, which sub-plans may be designed to be outside the scope of Section 423
of the Code. The rules of such sub-plans may take precedence over other provisions of this Plan,
with the exception of Section 3.1 hereof, but unless otherwise superseded by the terms of such sub-plan,
the provisions of this Plan shall govern the operation of such sub-plan.

 

11.3          
Decisions Binding. The Administrator’s interpretation of the Plan, any rights granted
pursuant to the Plan, any subscription agreement and all decisions and determinations by the Administrator with respect to the Plan are
final, binding, and conclusive on all parties.

 

Article
XII.

MISCELLANEOUS

 

12.1          
Restriction upon Assignment. A right granted under the Plan shall not be transferable
other than by will or the applicable laws of descent and distribution, and is exercisable during the Participant’s lifetime only
by the Participant. Except as provided in Section 12.4 hereof, a right under the Plan may not be exercised to any extent except by
the Participant. The Company shall not recognize and shall be under no duty to recognize any assignment or alienation of the Participant’s
interest in the Plan, the Participant’s rights under the Plan or any rights thereunder.

 

12.2          
Rights as a Stockholder. With respect to Shares subject to a right granted under the Plan,
a Participant shall not be deemed to be a stockholder of the Company, and the Participant shall not have any of the rights or privileges
of a stockholder, until such Shares have been issued to the Participant or his or her nominee following exercise of the Participant’s
rights under the Plan. No adjustments shall be made for dividends (ordinary or extraordinary, whether in cash securities, or other property)
or distribution or other rights for which the record date occurs prior to the date of such issuance, except as otherwise expressly provided
herein or as determined by the Administrator.

 

12.3          
Interest. No interest shall accrue on the payroll deductions or contributions of a Participant
under the Plan.

 

12.4          
Designation of Beneficiary.

 

(a)                A
Participant may, in the manner determined by the Administrator, file a written designation of a beneficiary who is to receive any
Shares and/or cash, if any, from the Participant’s account under the Plan in the event of such Participant’s death
subsequent to a Purchase Date on which the Participant’s rights are exercised but prior to delivery to such Participant of
such Shares and cash. In addition, a Participant may file a written designation of a beneficiary who is to receive any cash from the
Participant’s account under the Plan in the event of such Participant’s death prior to exercise of the
Participant’s rights under the Plan. If the Participant is married and resides in a community property state, a designation of
a person other than the Participant’s spouse as his or her beneficiary shall not be effective without the prior written
consent of the Participant’s spouse.

 

    13 

     

    

 

(b)               
Such designation of beneficiary may be changed by the Participant at any time by written notice to the Company. In the event of
the death of a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s
death, the Company shall deliver such Shares and/or cash to the executor or administrator of the estate of the Participant, or if no such
executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such Shares
and/or cash to the spouse or to any one or more dependents or relatives of the Participant, or if no spouse, dependent or relative is
known to the Company, then to such other person as the Company may designate.

 

12.5          
Notices. All notices or other communications by a Participant to the Company under or in connection
with the Plan shall be deemed to have been duly given when received in the form specified by the Company at the location, or by the person,
designated by the Company for the receipt thereof.

 

12.6          
Equal Rights and Privileges. Subject to Section 5.7, all Eligible Employees will have
equal rights and privileges under the Section 423 Component so that the Section 423 Component of this Plan qualifies as an “employee
stock purchase plan” within the meaning of Section 423 of the Code. Subject to Section 5.7, any provision of the Section 423
Component that is inconsistent with Section 423 of the Code will, without further act or amendment by the Company, the Board or the Administrator,
be reformed to comply with the equal rights and privileges requirement of Section 423 of the Code. Eligible Employees participating in
the Non-Section 423 Component need not have the same rights and privileges as other Eligible Employees participating in the Non-Section
423 Component or as Eligible Employees participating in the Section 423 Component.

 

12.7          
Use of Funds. All payroll deductions received or held by the Company under the Plan may be
used by the Company for any corporate purpose, and the Company shall not be obligated to segregate such payroll deductions.

 

12.8          
No Employment Rights. Nothing in the Plan shall be construed to give any person (including
any Eligible Employee or Participant) the right to remain in the employ of the Company or any Parent or Subsidiary or affect the right
of the Company or any Parent or Subsidiary to terminate the employment of any person (including any Eligible Employee or Participant)
at any time, with or without cause.

 

12.9          
Notice of Disposition of Shares. Each Participant shall give prompt notice to the Company
of any disposition or other transfer of any Shares purchased upon exercise of a right under the Section 423 Component of the Plan if such
disposition or transfer is made: (a) within two years from the Enrollment Date of the Offering Period in which the Shares were purchased
or (b) within one year after the Purchase Date on which such Shares were purchased. Such notice shall specify the date of such disposition
or other transfer and the amount realized, in cash, other property, assumption of indebtedness or other consideration, by the Participant
in such disposition or other transfer.

 

    14 

     

    

 

12.10       
 Governing Law. The Plan and any agreements hereunder shall be administered, interpreted and
enforced in accordance with the laws of the State of Delaware, disregarding any state’s choice of law principles requiring the application
of a jurisdiction’s laws other than the State of Delaware.

 

12.11       
Electronic Forms. To the extent permitted by Applicable Law and in the discretion of the Administrator,
an Eligible Employee may submit any form or notice as set forth herein by means of an electronic form approved by the Administrator. Before
the commencement of an Offering Period, the Administrator shall prescribe the time limits within which any such electronic form shall
be submitted to the Administrator with respect to such Offering Period in order to be a valid election.

 

* * * * *

 

    15EXHIBIT
10.1

 

American
Noble Gas, Inc.

2021
Stock Option and Restricted Stock Plan

 

1.
Purposes.

 

(a)
Background. This 2021 Stock Option and Restricted Stock Plan was adopted on August 14, 2021 by the Board of Directors, subject
to the approval of the Company’s stockholders. Options granted under the Plan prior to the stockholders’ approval will be
effective upon approval of the stockholders as of their respective dates of grant.

 

(b)
Eligible Award Recipients. The persons eligible to receive Awards are all employees (including executive officers) and directors
of the Company or any of its affiliates, as well as consultants, professionals and service providers who provide services to the Company
are eligible to participate in the 2021 Plan.

 

(c)
Available Awards. The purpose of the Plan is to provide a means by which eligible recipients may be given an opportunity to
benefit from increases in value of the Common Stock through the granting of the following: (i) Incentive Stock Options, (ii) Nonqualified
Stock Options, and (iii) rights to acquire restricted stock.

 

(d)
General Purpose. The Company, by means of the Plan, seeks to retain the services of the group of persons eligible to receive
Awards, to secure and retain the services of new members of this group and to provide incentives for such persons to exert maximum efforts
for the success of the Company and its Affiliates.

 

2.
Definitions.

 

(a)
“Affiliate” means any entity that controls, is controlled by, or is under common control with the Company.

 

(b)
“Award” means any right granted under the Plan, including an Option, and a right to acquire restricted Common
Stock.

 

(c)
“Award Agreement” means a written agreement between the Company and a holder of an Award (other than an Option)
evidencing the terms and conditions of an individual Award grant.

 

(d)
“Board” means the board of directors of the Company.

 

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

 

(f)
“Committee” means a pre-existing or newly formed committee of members of the Board appointed by the Board in accordance
with subsection 3(c).

 

(g)
“Common Stock” means the shares of the Company’s common stock par value $0.001 and other rights with respect
to such shares.

 

(h)
“Company” means American Noble Gas, Inc., a Delaware corporation.

 

(i)
“Continuous Service” means that the Participant’s service with the Company or an Affiliate, whether as an
Employee or Director is not interrupted or terminated. Unless otherwise provided in an Award Agreement or Option Agreement, as applicable,
the Participant’s Continuous Service shall not be deemed to have terminated merely because of a change in the capacity in which
the Participant renders service to the Company or an Affiliate as an Employee or Director or a change in the entity for which the Participant
renders such service, provided that there is no interruption or termination of the Participant’s service to the Company or an Affiliate
as an Employee or Director. The Board, in its sole discretion, may determine whether Continuous Service shall be considered interrupted
in the case of any leave of absence, including sick leave, military leave or any other personal leave.

 

    	 

    	 

    

 

(j)
“Covered Employee” means the Company’s chief executive officer and the four (4) other highest compensated
officers of the Company for whom total compensation is required to be reported to stockholders under the Exchange Act, as determined
for purposes of Section 162(m) of the Code.

 

(k)
“Director” means a member of the Board of the Company.

 

(l)
“Disability” means the Participant’s inability, due to illness, accident, injury, physical or mental incapacity
or other disability, to carry out effectively the duties and obligations to the Company and its Affiliates performed by such person immediately
prior to such disability for a period of at least six (6) months, as determined in the good faith judgment of the Board.

 

(m)
“Dollars” or “$” means United States dollars.

 

(n)
“Employee” means any person employed by the Company or an Affiliate. Service as a Director or payment of a director’s
fee by the Company or an Affiliate alone shall not be sufficient to constitute “employment” by the Company or an Affiliate.

 

(o)
“Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

(p)
“Fair Market Value” means, as of any date, the value of the Common Stock determined as follows:

 

(i)
If the Common Stock is listed on any established stock exchange, or traded on the Nasdaq Global Market, the Nasdaq Capital Market
or the OTCQB or other public marketplace, the Fair Market Value of the Common Stock shall be the closing sales price for such stock (or
the closing bid, if no sales were reported) as quoted on such exchange or market (or the exchange or market with the greatest volume
of trading in Common Stock if such stock is traded on more than one such exchange or market) on the last market trading day prior to
the day of determination, as reported by such exchange or market or such other source as the Board reasonably deems reliable.

 

(ii)
In the absence of such markets for the Common Stock, the Fair Market Value shall be determined in good faith by the Board.

 

(q)
“Incentive Stock Option” means an option designated as an incentive stock option in an Option Agreement and that
is granted in accordance with the requirements of, and that conforms to the applicable provisions of, Section 422 of the Code.

 

(r)
“Independent Director” means (i) a Director who satisfies the definition of Independent Director or similar definition
under the applicable stock exchange or Nasdaq rules and regulations upon which the Common Stock is traded from time to time and (ii)
a Director who either (A) is not a current employee of the Company or an “affiliated corporation” (within the meaning of
Treasury Regulations promulgated under Section 162(m) of the Code), is not a former employee of the Company or an “affiliated corporation”
receiving compensation for prior services (other than benefits under a tax qualified pension plan), was not an officer of the Company
or an “affiliated corporation” at any time and is not currently receiving direct or indirect remuneration from the Company
or an “affiliated corporation” for services in any capacity other than as a Director or (B) is otherwise considered an “outside
director” for purposes of Section 162(m) of the Code.

 

(s)
“Nonqualified Stock Option” means an option that is not designated in an Option Agreement as an Incentive Stock
Option or was not granted in accordance with the requirements of, and does not conform to the applicable provisions of, Section 422 of
the Code.

 

(t)
“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.

 

(u)
“Option” means an Incentive Stock Option or a Nonqualified Stock Option granted pursuant to the Plan.

 

(v)
“Option Agreement” means a written agreement between the Company and an Optionholder evidencing the terms and
conditions of an individual Option grant.

 

    	 

    	 

    

 

(w)
“Optionholder” means a person to whom an Option is granted pursuant to the Plan or, if applicable, such other
person who holds an outstanding Option.

 

(x)
“Participant” means a person to whom an Award is granted pursuant to the Plan or, if applicable, such other person
who holds an outstanding Award.

 

(y)
“Plan” means this American Noble Gas, Inc. 2021 Stock Option and Restricted Stock Plan.

 

(z)
“Rule 16b-3” means Rule 16b-3 promulgated under the Exchange Act or any successor to Rule 16b-3, as in effect
from time to time.

 

(aa)
“Securities Act” means the Securities Act of 1933, as amended.

 

(bb)
“Ten Percent Stockholder” means a person who owns (or is deemed to own pursuant to Section 424(d) of the Code)
stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any parent
corporation or any subsidiary corporation, both as defined in Section 424 of the Code.

 

3.
Administration.

 

(a)
Administration by Board. The Board shall administer the Plan unless and until the Board delegates administration to a Committee,
as provided in subsection 3(c). The Board may, at any time and for any reason in its sole discretion, rescind some or all of such delegation.

 

(b)
Powers of Board. The Board shall have the power, subject to, and within the limitations of, the express provisions of the
Plan:

 

(i)
To determine from time to time which of the persons eligible under the Plan shall be granted Awards; when and how each Award shall
be granted; what type or combination of types of Award shall be granted; the provisions of each Award granted (which need not be identical),
including the time or times when a person shall be permitted to receive Common Stock pursuant to an Award; and the number of shares of
Common Stock with respect to which an Award shall be granted to each such person.

 

(ii)
To construe and interpret the Plan, Awards granted under it, Option Agreements and Award Agreements, and to establish, amend and
revoke rules and regulations for their administration. The Board, in the exercise of this power, may correct any defect, omission or
inconsistency in the Plan or in any Option Agreement or Award Agreement, in a manner and to the extent it shall deem necessary or expedient
to make the Plan fully effective.

 

(iii)
To amend the Plan, an Award, an Award Agreement or an Option Agreement as provided in Section 12, provided that, the Board
shall not amend the Fair Market Value of an Award or extend the term of an Option or Award without obtaining the approval of the stockholders
if required by the rules of any stock exchange upon which the Common Stock is listed.

 

(iv)
To reprice any Options granted under the Plan by lowering the exercise price of an Option after it is granted, canceling an Option
at a time when its exercise price exceeds the Fair Market Value of the stock underlying the Option, in exchange for another Option or
Award, as well as any other action that is treated as a repricing under generally accepted accounting principles.

 

(v)
Generally, to exercise such powers and to perform such acts as the Board deems necessary or expedient to promote the best interests
of the Company which are not in conflict with the provisions of the Plan.

 

    	 

    	 

    

 

(c)
Delegation to Committee.

 

(i)
General. The Board may delegate administration of the Plan and its powers and duties thereunder to a Committee or Committees,
and the term “Committee” shall apply to any person or persons to whom such authority has been delegated. Upon such delegation,
the Committee shall have the powers theretofore possessed by the Board, including the power to delegate to a subcommittee any of the
administrative powers the Committee is authorized to exercise (and references in this Plan to the Board shall thereafter be deemed to
include the Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may
be adopted from time to time by the Board. In its absolute discretion, the Board may at any time and from time to time exercise any and
all rights and duties of the Committee under this Plan, except respecting matters under Rule 16b-3 of the Exchange Act or Section 162(m)
of the Code, or any rules or regulations issued thereunder, which are required to be determined in the sole discretion of the Committee.

 

(ii)
Committee Composition. A Committee shall consist solely of two (2) or more Independent Directors. Within the scope of its
authority, the Board or the Committee may (1) delegate to a committee of one or more members of the Board who are not Independent Directors
the authority to grant Awards to eligible persons who are either (a) not then Covered Employees and are not expected to be Covered Employees
at the time of recognition of income resulting from such Award or (b) not persons with respect to whom the Company wishes to comply with
Section 162(m) of the Code, and/or (2) delegate to a committee of one or more members of the Board who are not Independent Directors
or to the Company’s Chief Executive Officer the authority to grant Awards to eligible persons who are not then subject to Section
16 of the Exchange Act.

 

(d)
Effect of Board’s Decision; No Liability. All determinations, interpretations and constructions made by the Board in
good faith shall not be subject to review by any person and shall be final, binding and conclusive on all persons. No member of the Board
or the Committee or any person to whom duties hereunder have been delegated shall be liable for any action, interpretation or determination
made in good faith, and such persons shall be entitled to full indemnification and reimbursement consistent with applicable law and in
the manner provided in the Company’s Articles of Incorporation and Bylaws, as the same may be amended from time to time, or as
otherwise provided in any agreement between any such member and the Company.

 

4.
Stock Subject to the Plan.

 

(a)
Stock Reserve. Subject to the provisions of Section 11 relating to adjustments upon changes in Common Stock, the shares of
Common Stock that may be issued pursuant to Awards shall not exceed in the aggregate five million (5,000,000) shares of Common Stock.

 

(b)
Reversion of Stock to the Stock Reserve. If any Award shall for any reason expire or otherwise terminate, in whole or in part,
without having been exercised in full, the shares of Common Stock not acquired under such Award shall revert to and again become available
for issuance under the Plan.

 

(c)
Source of Stock. The Common Stock subject to the Plan may be unissued stock or reacquired stock, bought on the market or otherwise.

 

5.
Eligibility.

 

(a)
Eligibility for Specific Awards. Incentive Stock Options may be granted only to Employees. Awards other than Incentive Stock
Options may be granted to Employees and Directors.

 

(b)
Ten Percent Stockholders. A Ten Percent Stockholder shall not be granted an Incentive Stock Option unless the exercise price
of such Option is at least one hundred ten percent (110%) of the Fair Market Value of the Common Stock at the date of grant and the Option
is not exercisable after the expiration of five (5) years from the date of grant.

 

6.
Option Provisions.

 

Each
Option Agreement shall be subject to the terms and conditions of this Plan. Each Option and Option Agreement shall be in such form and
shall contain such terms and conditions as the Board shall deem appropriate. All Options shall be separately designated Incentive Stock
Options or Nonqualified Stock Options at the time of grant, and, if certificates are issued, a separate certificate or certificates will
be issued for the shares of Common Stock purchased on exercise of each type of Option. The provisions of separate Options need not be
identical.

 

    	 

    	 

    

 

(a)
Provisions Applicable to All Options.

 

(i)
Consideration. The purchase price of the shares of Common Stock acquired pursuant to an Option shall be paid as follows: (a)
in cash or by certified or official bank check, payable to the order of the Company, in the amount (the “Purchase Price”)
equal to the exercise price of the Option multiplied by the number of shares plus payment of all taxes applicable upon such exercise;
(b) with shares owned by the Optionholder having a Fair Market Value at the time the Option is exercised equal to the Purchase Price
plus payment in cash of all taxes applicable upon such exercise, with the prior approval of the Board; (c) by surrendering to the Company
the right to acquire a number of shares having an aggregate value such that the amount by which the Fair Market Value of such shares
exceeds the aggregate exercise price is equal to the Purchase Price plus payment in cash of all taxes applicable upon such exercise,
with the prior approval of the Board; (d) any combination of the foregoing; or (e) a manner acceptable to the Board.

 

(ii)
Vesting Generally. An Option may (A) vest, and therefore become exercisable, in periodic installments that may, but need not,
be equal, or (B) be fully vested at the time of grant. The Option may be subject to such other terms and conditions on the time or times
when it may be exercised (which may be based on performance or other criteria) as the Board may deem appropriate. The vesting provisions,
if any, of individual Options may vary. The provisions of this subsection 6(a)(ii) are subject to any Option Agreement provisions governing
the minimum number of Common Stock as to which an Option may be exercised.

 

(iii)
Termination of Continuous Service. Unless otherwise provided in the Option Agreement, in the event an Optionholder’s
Continuous Service terminates (other than upon the Optionholder’s death, Disability, retirement or as a result of a Change of Control),
all Options held by the Optionholder shall immediately terminate; provided, however, that an Option Agreement may provide
that if an Optionholder’s Continuous Service is terminated for reasons other than for cause, all vested Options held by such person
shall continue to be exercisable until the earlier of the expiration date of such Option or ninety (90) days after the date of such termination.
All such vested Options not exercised within the period described in the preceding sentence shall terminate.

 

(iv)
Disability or Death of Optionholder. Unless otherwise provided in the Option Agreement, in the event of an Optionholder’s
Disability or death, all unvested Options shall immediately terminate, and all vested Options held by such person shall continue to be
exercisable for twelve months after the date of such Disability or death. All such vested Options not exercised within such twelve-month
period shall terminate.

 

(v)
Retirement. Unless otherwise provided in the Option Agreement, in the event of the Optionholder’s retirement, all unvested
Options shall automatically vest on the date of such retirement and all Options shall be exercisable for the earlier of twelve (12) months
after such retirement date or the expiration date of such Options. All such Options not exercised within the period described in the
preceding sentence shall terminate.

 

(b)
Provisions Applicable to Incentive Stock Options.

 

(i)
Term. Subject to the provisions of subsection 5(b) regarding Ten Percent Stockholders, no Incentive Stock Option shall be
exercisable after the expiration of ten (10) years from the date it was granted. Further, no grant of an Incentive Stock Option shall
be made under this Plan more than ten (10) years after the date the Plan is approved by the stockholders of the Company.

 

(ii)
Exercise Price of an Incentive Stock Option. Subject to the provisions of subsection 5(b) regarding Ten Percent Stockholders,
the exercise price of each Incentive Stock Option shall be not less than one hundred percent (100%) of the Fair Market Value of the Common
Stock subject to the Option on the date the Option is granted.

 

(iii)
Transferability of an Incentive Stock Option. An Incentive Stock Option shall not be transferable except by will or by the
laws of descent and distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder.

 

    	 

    	 

    

 

(iv)
Incentive Stock Option $100,000 Limitation. Notwithstanding any other provision of the Plan or an Option Agreement, the aggregate
Fair Market Value of the Common Stock with respect to which Incentive Stock Options are exercisable for the first time by an Optionholder
in any calendar year, under the Plan or any other option plan of the Company or its Affiliates, shall not exceed One Hundred Thousand
Dollars ($100,000). For this purpose, the Fair Market Value of the Common Stock shall be determined as of the time an Option is granted.
The Options or portions thereof which exceed such limit (according to the order in which they were granted) shall be treated as Nonqualified
Stock Options.

 

(c)
Provisions Applicable to Nonqualified Stock Options.

 

(i)
Exercise Price of a Nonqualified Stock Option. The exercise price of each Nonqualified Stock Option shall be not less than
one hundred percent (100%) of the Fair Market Value of the Common Stock subject to the Option on the date the Option is granted.

 

(ii)
Transferability of a Nonqualified Stock Option. A Nonqualified Stock Option shall be transferable, if at all, to the extent
provided in the Option Agreement. If the Option Agreement does not provide for transferability, then the Nonqualified Stock Option shall
not be transferable except by will or by the laws of descent and distribution and shall be exercisable during the lifetime of the Optionholder
only by the Optionholder.

 

7.
RESTRICTED STOCK AWARDS.

 

Each
restricted stock Award agreement shall be in such form and shall contain such restrictions, terms and conditions, if any, as the Board
shall deem appropriate and shall be subject to the terms and conditions of this Plan. The terms and conditions of restricted stock Award
Agreements may change from time to time, and the terms and conditions of separate restricted stock Award Agreements need not be identical,
but each restricted stock Award Agreement shall include (through incorporation of provisions hereof by reference in the agreement or
otherwise) the substance of each of the following provisions:

 

(i)
Consideration. A restricted stock Award may be awarded in consideration for past services actually rendered, or for future
services to be rendered, to the Company or an Affiliate for its benefit.

 

(ii)
Vesting. Common Stock awarded under the restricted stock Award Agreement may (A) be subject to a vesting schedule to be determined
by the Board or (B) be fully vested at the time of grant.

 

(iii)
Termination of Participant’s Continuous Service. Unless otherwise provided in the restricted stock Award Agreement,
in the event a Participant’s Continuous Service terminates prior to a vesting date set forth in the restricted stock Award Agreement,
any unvested restricted stock Award shall be forfeited and automatically transferred to and reacquired by the Company at no cost to the
Company, and neither the Participant nor his or her heirs, executors, administrators or successors shall have any right or interest in
the restricted stock Award. Notwithstanding the foregoing, unless otherwise provided in the restricted stock Award agreement, in the
event a Participant’s Continuous Service terminates as a result of (A) being terminated by the Company for reasons other than for
cause, (B) death, (C) Disability, (D) retirement, or (E) a Change of Control (subject to the provisions of Section 11(c) hereof), then
any unvested restricted stock Award shall vest immediately upon such date. “Change of Control” shall mean one or more persons
acting individually or as a group (i) acquires sufficient additional stock to constitute more than fifty percent (50%) of (A) the total
fair market value of all Common Stock issued and outstanding or (B) the total voting power of all shares of capital stock authorized
to vote for the election of directors; (ii) acquires, in a twelve (12) month period, thirty-five percent (35%) or more of the voting
power of all shares of capital stock authorized to vote for the election of directors, or alternatively a majority of the members of
the Board is replaced during any twelve (12) month period by directors whose appointment was not endorsed by a majority of the members
of the Board; or (iii) acquires, during a twelve (12) month period, more than forty percent (40%) of the total gross fair market value
of all of the Company’s assets. The foregoing shall not apply to (i) any transaction involving any stockholder that individually
or as a group owns more than fifty percent (50%) of the outstanding Common Stock on the date the 2021 Plan is approved by the Company’s
stockholders, until such time as such stockholder first owns less than forty percent (40%) of the total outstanding Common Stock, or
(ii) any transaction undertaken for the purpose of reincorporating the Company under the laws of another jurisdiction, if such transaction
does not materially affect the beneficial ownership of the Company’s capital stock.

 

(iv)
Transferability. Rights to acquire Common Stock under the restricted stock Award Agreement shall be transferable by the Participant
only upon such terms and conditions as are set forth in the restricted stock Award Agreement, as the Board shall determine in its discretion,
so long as Common Stock awarded under the restricted stock Award Agreement remain subject to the terms of the restricted stock Award
Agreement.

 

    	 

    	 

    

 

8.
Availability of Stock.

 

Subject
to the restrictions set forth in Section 4(a), during the terms of the Awards, the Company shall keep available at all times the number
of shares of Common Stock required to satisfy such Awards.

 

9.
Use of Proceeds from Stock.

 

Proceeds
from the sale of Common Stock pursuant to Awards shall constitute general funds of the Company.

 

10.
Miscellaneous.

 

(a)
Exercise of Awards. Awards shall be exercisable at such times, or upon the occurrence of such event or events as the Board
shall determine at or subsequent to grant. Awards may be exercised in whole or in part. Common Stock purchased upon the exercise of an
Award shall be paid for in full at the time of such purchase.

 

(b)
Acceleration of Exercisability and Vesting. The Board shall have the power to accelerate the time at which an Award may first
be exercised or the time during which an Award or any part thereof will vest in accordance with the Plan, notwithstanding the provisions
in the Award stating the time at which it may first be exercised or the time during which it will vest.

 

(c)
Stockholder Rights.

 

(i)
Options. Unless otherwise provided in and upon the terms and conditions in the Option Agreement, no Participant shall be deemed
to be the holder of, or to have any of the rights of a holder with respect to, any Common Stock subject to an Option unless and until
such Participant has satisfied all requirements for exercise of, and has exercised, the Option pursuant to its terms.

 

(ii)
Restricted Stock. Unless otherwise provided in and upon the terms and conditions in the restricted stock Award Agreement,
the Recipient will have the right to vote the Shares and to receive any cash dividends. However, stock dividends, stock rights or others
securities issued with respect to the Shares shall subject to the same restrictions as exist regarding the original Shares.

 

(d)
No Employment or other Service Rights. Nothing in the Plan or any instrument executed or Award granted pursuant thereto shall
confer upon any Participant any right to continue to serve the Company or an Affiliate in the capacity in effect at the time the Award
was granted, or any other capacity, or shall affect the right of the Company or an Affiliate to terminate with or without notice and
with or without cause (i) the employment of an Employee or an Affiliate or (ii) the service of a Director of the Company or an Affiliate.

 

(e)
Withholding Obligations. If the Company has or will have a legal obligation to withhold the taxes related to the grant, vesting
or exercise of the Award, such Award may not be granted, vested or exercised in whole or in part, unless such tax obligation is first
satisfied in a manner satisfactory to the Company. To the extent provided by the terms of an Award Agreement or Option Agreement, the
Participant may satisfy any federal, state or local tax withholding obligation relating to the exercise or acquisition of Common Stock
under an Award by any of the following means (in addition to the Company’s right to withhold from any compensation paid to the
Participant by the Company) or by a combination of such means: (i) tendering a cash payment in Dollars; (ii) authorizing the Company
to withhold Common Stock from the Common Stock otherwise issuable to the Participant as a result of the exercise or acquisition of Common
Stock under the Award, provided, however, that no shares of Common Stock are withheld with a value exceeding the minimum amount of tax
required to be withheld by law; or (iii) delivering to the Company owned and unencumbered Common Stock.

 

    	 

    	 

    

 

(f)
Listing and Qualification of Stock. This Plan and the grant and exercise of Awards hereunder, and the obligation of the Company
to sell and deliver Common Stock under such Awards, shall be subject to all applicable United States federal and state laws, rules and
regulations, and any other laws applicable to the Company, and to such approvals by any government or regulatory agency as may be required.
The Company, in its discretion, may postpone the issuance or delivery of Common Stock upon any exercise of an Award until completion
of any stock exchange listing, or the receipt of any required approval from any stock exchange or other qualification of such Common
Stock under any United States federal or state law rule or regulation as the Company may consider appropriate, and may require any individual
to whom an Award is granted, such individual’s beneficiary or legal representative, as applicable, to make such representations
and furnish such information as the Board may consider necessary, desirable or advisable in connection with the issuance or delivery
of the Common Stock in compliance with applicable laws, rules and regulations.

 

(g)
Non-Uniform Determinations. The Board’s determinations under this Plan (including, without limitation, determinations
of the persons to receive Awards, the form, term, provisions, amount and timing of the grant of such Awards and of the agreements evidencing
the same) need not be uniform and may be made by it selectively among persons who receive, or are eligible to receive, Awards under this
Plan, whether or not such persons are similarly situated.

 

11.
Adjustments Upon Changes in Stock.

 

(a)
Capitalization Adjustments. If any change is made in the Common Stock subject to the Plan, or subject to any Award, without
the receipt of consideration by the Company (through merger, consolidation, reorganization, recapitalization, reincorporation, stock
dividend, dividend in property other than cash, stock split, liquidating dividend, combination of stock, exchange of stock, change in
corporate structure or other transaction), the Plan will be appropriately adjusted in the class(es) and maximum number of securities
subject to the Plan pursuant to subsection 4(a) and the maximum number of securities subject to award to any person pursuant to subsection
5(c), and the outstanding Awards will be appropriately adjusted in the class(es) and number of securities and price per stock of Common
Stock subject to such outstanding Awards. The Board shall make such adjustments, and its determination shall be final, binding and conclusive.
(The conversion of any convertible securities of the Company shall not be treated as a transaction “without receipt of consideration”
by the Company.)

 

(b)
Dissolution or Liquidation. In the event of a dissolution or liquidation of the Company, then all outstanding Awards shall
terminate immediately prior to such event.

 

(c)
Asset Sale, Merger, Consolidation or Reverse Merger. In the event of a Change of Control (as defined below), any unvested
Awards shall vest immediately prior to the closing of the Change of Control, and the Board shall have the power and discretion to provide
for the Participant’s election alternatives regarding the terms and conditions for the exercise of, or modification of, any outstanding
Awards granted hereunder, provided, however, such alternatives shall not affect the then current exercise provisions without such Participant’s
consent. The Board may provide that Awards granted hereunder must be exercised in connection with the closing of such transaction, and
that if not so exercised such Awards will expire. Any such determinations by the Board may be made generally with respect to all Participants,
or may be made on a case-by-case basis with respect to particular Participants. For the purpose of this Plan, a “Change of Control”
shall have occurred in the event one or more persons acting individually or as a group (i) acquires sufficient additional stock to constitute
more than fifty percent (50%) of (A) the total Fair Market Value of all Common Stock issued and outstanding or (B) the total voting power
of all shares of capital stock authorized to vote for the election of directors; (ii) acquires, in a twelve (12) month period, thirty-five
percent (35%) or more of the voting power of all shares of capital stock authorized to vote for the election of directors, or alternatively
a majority of the members of the board is replaced during any twelve (12) month period by directors whose appointment was not endorsed
by a majority of the members of the board; or (iii) acquires, during a twelve (12) month period, more than forty percent (40%) of the
total gross fair market value of all of the Company’s assets. Notwithstanding the foregoing, the provisions of this Section 11(c)
shall not apply to (i) any transaction involving any stockholder that individually or as a group owns more than fifty percent (50%) of
the outstanding Common Stock on the date this Plan is approved by the Company’s stockholders, until such time as such stockholder
first owns less than forty percent (40%) of the total outstanding Common Stock, or (ii) any transaction undertaken for the purpose of
reincorporating the Company under the laws of another jurisdiction, if such transaction does not materially affect the beneficial ownership
of the Company’s capital stock.

 

    	 

    	 

    

 

12.
Amendment of the Plan and Awards.

 

(a)
Amendment of Plan. The Board at any time, and from time to time, may amend the Plan. However, except as provided in Section
11 relating to adjustments upon changes in Common Stock, no amendment shall be effective unless approved by the stockholders of the Company
to the extent stockholder approval is necessary to satisfy the requirements of Section 422 of the Code, Rule 16b-3 or any applicable
Nasdaq or securities exchange listing requirements.

 

(b)
Stockholder Approval. The Board may, in its sole discretion, submit any other amendment to the Plan for stockholder approval,
including, but not limited to, amendments to the Plan intended to satisfy the requirements of Section 162(m) of the Code and the regulations
thereunder regarding the exclusion of performance-based compensation from the limit on corporate deductibility of compensation paid to
certain executive officers.

 

(c)
Contemplated Amendments. It is expressly contemplated that the Board may amend the Plan in any respect the Board deems necessary
or advisable to provide eligible Employees with the maximum benefits provided or to be provided under the provisions of the Code and
the regulations promulgated thereunder relating to Incentive Stock Options and/or to bring the Plan and/or Incentive Stock Options granted
under it into compliance therewith.

 

(d)
No Impairment of Rights. Rights under any Award granted before amendment of the Plan shall not be impaired by any amendment
of the Plan unless the Participant consents in writing.

 

(e)
Amendment of Awards. Subject to Section 3(b)(iii), the Board at any time, and from time to time, may amend the terms of any
one or more Awards; provided, however, that the rights under any Award shall not be impaired by any such amendment unless the applicable
Participant consents in writing.

 

13.
Termination or Suspension of the Plan.

 

(a)
Plan Term. The Board may suspend or terminate the Plan at any time. Unless sooner terminated, the Plan shall terminate on
the day before the tenth (10th) anniversary of the date the Plan is adopted by the stockholders of the Company. No Awards may be granted
under the Plan while the Plan is suspended or after it is terminated.

 

(b)
No Impairment of Rights. Suspension or termination of the Plan shall not impair rights and obligations under any Award granted
while the Plan is in effect except with the written consent of the Participant.

 

(c)
Savings Clause. This Plan is intended to comply in all aspects with applicable laws and regulations. In case any one or more
of the provisions of this Plan shall be held invalid, illegal or unenforceable in any respect under applicable law or regulation, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and the invalid,
illegal or unenforceable provision shall be deemed null and void; however, to the extent permissible by law, any provision which could
be deemed null and void shall first be construed, interpreted or revised retroactively to permit this Plan to be construed in compliance
with all applicable laws so as to foster the intent of this Plan.

 

14.
Effective Date of Plan.

 

The
Plan shall not become effective unless and until the Plan has been approved by the stockholders of the Company, which approval shall
be within twelve (12) months before or after the date the Plan is adopted by the Board. No Awards may be grated before the effective
date and no further Awards may be granted under the 2021 Plan after such date of termination. In addition, in the event that the stockholders
of the Company do approve the 2021 Plan within twelve (12) months of such effective date, the 2021 Plan shall become void and of no force
or effect. The Board may terminate, suspend or amend the Plan at any time without stockholder approval except to the extent that stockholder
approval is required to satisfy applicable requirements imposed by (a) Rule 16b-3 under the Exchange or any successor rule or regulation;
or (b) the rules of any exchange on or through which the shares of Common Stock are then listed or traded. If the 2021 Plan is terminated,
whether by automatic termination on the day before the tenth (10th) anniversary, or for any other reason provided under the
2021 Plan, notwithstanding such termination, all Awards granted prior to such termination shall continue until they are terminated by
their respective terms.

 

15.
Choice of Law.

 

The
law of the state of Nevada shall govern all questions concerning the construction, validity and interpretation of this Plan, without
regard to such state’s conflict of laws rules.

 

(The
Plan was adopted by the Board of Directors on August 14, 2021).

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