Document:

Lease agreement dated December 15, 2005, between the Bank and Great Meadows Inc.

 Exhibit 10.31 
 STATE OF NORTH CAROLINA LEASE AGREEMENT 
 COUNTY OF MCDOWELL 
 THIS LEASE AGREEMENT, dated December     , 2005, is entered into by and between GREAT MEADOWS,
INC., a North Carolina corporation (“Landlord”); and MOUNTAIN 1ST BANK & TRUST COMPANY, a North Carolina banking corporation (“Tenant”). 
 PRELIMINARY STATEMENT 
 A. Landlord is the owner of a
parcel of land (the “Land”) containing approximately 0.97 acres, located on the northern side of US. Highway 70, at the northeastern corner formed by its intersection with U.S. Highway 221 Bypass, in the City of Marion, McDowell County,
North Carolina, and more particularly described in Exhibit A attached hereto. Landlord or its predecessor has constructed a commercial building (the “Building”) on the Land, containing approximately 3,000 square feet of building area,
along with related improvements such as paved entrances and parking areas, utility lines and landscaping (together with the Building, the “Improvements.”). The Land, the Building and the other Improvements are referred to collectively in
this Lease as the “Premises.” 
 B. Tenant desires to lease the Premises from Landlord for the operation of its
commercial banking business. In order to evidence their agreement regarding Tenant’s lease of the Premises, the parties are entering into this Lease Agreement (this “Lease”). 
 AGREEMENT OF LEASE 
 NOW, THEREFORE, in
consideration of the mutual covenants and conditions contained in this Lease, including the covenant to pay rent, and other good and valuable consideration, Landlord and Tenant hereby agree, for themselves, their successors and assigns, as follows:

 1. Basic Lease Provisions. In addition to the terms defined in the Preliminary Statement, the following terms,
whenever used in this Lease with the first letter of each word capitalized, shall have only the meanings set forth in this Paragraph 1, unless such meanings are expressly modified, limited or expanded elsewhere in this Lease: 
 (a) Lease Term: Five (5) full Lease Years, beginning on the Rent Commencement Date, as those terms are defined
below, plus the period between the Commencement Date and the Rent Commencement Date. In addition, Tenant shall have four (4) consecutive options to extend the Lease Term for periods of three (3) Lease Years each (the “Renewal
Periods”). 
 (b) Lease Year: The first Lease Year shall begin on the Rent Commencement Date”
defined in Paragraph 1(d), and shall end on the last day of the twelfth (12th) full calendar month thereafter. Each subsequent Lease Year shall be a period of twelve (12) consecutive calendar months. 
 (c) Commencement Date: The date that the Premises is delivered by Landlord to Tenant in the condition required in
Paragraph 5(a). 
 (d) Rent Commencement Date: The earlier of: (i)___120___ (___) days after the
Commencement Date, or (ii) the date Tenant opens for business in the Premises. 
 (e) Base Rent:
Beginning on the Rent Commencement Date, and for the remainder of the initial Lease Term, the annual Base Rent payable under this Lease shall be Forty-Two Thousand and 00/100 Dollars ($42,000.00), payable in equal monthly installments of Three
Thousand Five Hundred and 00/100 Dollars ($3,500.00). If Tenant exercises its first renewal option, the annual Base Rent payable under this Lease shall increase on the first day of the first Renewal Period in proportion to the increase in the
cost-of-living since the Rent Commencement Date. If Tenant exercises its second renewal option, the annual Base Rent payable under this Lease shall increase further on the first day of the second Renewal Period in proportion to the increase in the
cost-of-living since the first day of the first Renewal Period. If Tenant exercises its third renewal option, the annual Base Rent payable under this Lease shall increase further on the first day of the third Renewal Period in proportion to the
increase in the cost-of-living since the first day of the second Renewal Period. If Tenant exercises its fourth renewal option, the annual Base Rent payable under this Lease shall increase further on the first day of the fourth Renewal Period in
proportion to the increase in the cost-of-living since the first day of the third Renewal Period. The increase in the cost of living shall be determined by reference to the Consumer Price Index for All Urban Consumers (1982-84=100), as published by
the Bureau of Labor Statistics of the United States Department of Labor, and as most recently available on the date for which the cost of living determination is being made. If the above-referenced index is discontinued, calculated in a different
manner, or unavailable, Landlord may substitute a comparable, generally accepted cost of living index. 

 (f) Permitted Use: Conducting sales finance, consumer loans, banking,
personal loans, sale of insurance, mortgage lending, commercial lending, sale of securities, and other activities normally engaged in by a financial institution. 
 (g) Trade Name: Mountain 1st Bank & Trust Company. 
 (h) Landlord’s Mailing Address: Post Office Box 400, Spruce Pine, North Carolina 28777, Attention: G. Byron
Phillips. 
 (i) Tenant’s Mailing Address: 101 Jack Street, Hendersonville, North Carolina 28792,
Attention: Lee Beason. 
 (j) Exhibits: The following exhibits are attached to this Lease and are hereby
incorporated in and made a part of this Lease: 
 (i) Exhibit A - Legal Description of Prernises 
 Each reference in this Lease to any of the Basic Lease Provisions contained in this Paragraph 1 shall be construed to incorporate all of the
terms provided by such Basic Lease Provisions. In the event of any conflict between the Basic Lease Provisions and the balance of this Lease, including any exhibits, riders, addenda, or amendments, then the balance of this Lease shall control.

 2. Lease of Premises. Landlord hereby leases to Tenant, and Tenant hereby accepts and rents from Landlord at
the rent, and upon the terms and conditions set forth in this Lease, the Premises. The Premises are leased by Landlord to Tenant subject to all easements and restrictions of record. 
 3. Term. The Lease Term shall begin on the Commencement Date, and shall end at midnight on the last day of the fifth
(5th) Lease Year after the Rent Commencement Date. At the end of the Lease Term, Tenant is hereby granted four (4) consecutive options to extend the Lease Term for periods of three (3) Lease Years each, provided that Tenant is not in
default under this Lease, beyond any applicable cure period, on the date of exercise, and provided further that Tenant gives written notice to Landlord of its intention to exercise each option at least six (6) months before the end of the
original Lease Term or any previously exercised extension thereof. If Tenant exercises these options, all terms and conditions of the Lease shall continue in full force and effect during the Renewal Periods, including, without limitation, Base Rent
at the rates specified in Paragraph l(e). All references to the “Lease Term” shall, unless the context shall clearly indicate a different meaning, be deemed to constitute a reference to any properly exercised Renewal Periods. 

4. Rent. Tenant shall pay to Landlord the following amounts for the use and occupancy of the Premises and appurtenances
thereto: 
 (a) Base Rent. Commencing upon the Rent Commencement Date, and continuing for the balance of
the Lease Term, Tenant shall pay the Base Rent specified in Paragraph l(e). Base Rent shall be payable in advance, on or before the first day of each calendar month during the Lease Term, without setoff, demand or deduction. Base Rent due for any
portion of a calendar month shall be computed on a daily basis. If the Commencement Date falls on a day other than the first day of a calendar month, the Base Rent for the first partial month shall be payable together with the first full monthly
installment of Base Rent on the first day of the following calendar month. 
 (b) Taxes and Insurance.
Commencing on the Rent Commencement Date, and for the balance of the Lease Term, Tenant agrees to pay the following expenses: 
 (i) All taxes and assessments of every kind or nature which are now or may hereafter be imposed or assessed upon the Premises, specifically including any taxes or assessments levied on Tenant’s
personal property. Landlord shall cause the Premises to be separately assessed for tax purposes, and Tenant shall pay the taxes directly to the taxing authority, and furnish Landlord proof of payment on or before December 15 of each year.

 (ii) All taxes or excises on rent or any other tax, levy or charge, however described, levied against Landlord
by the federal government, the State of North Carolina or any political subdivision of the State of North Carolina on account of rent or other charges payable to Landlord under this Lease; provided, however, that the provisions of this subparagraph
(ii) shall not be deemed to include any income, estate, franchise or similar taxes levied against Landlord. 
 (iii) All insurance premiums paid by Landlord for any policy of insurance obtained by Landlord under Paragraph 11(a). 

 (c) Other Charges. In addition to all other rent required to be paid
pursuant to the terms of this Paragraph 4, Tenant shall pay, as additional rent, all other charges required to be paid pursuant to other provisions of this Lease, whether or not designated as “rent.” If the due date of any such payment is
not specified in this Lease, the payment shall be due within ten (10) days after written notice from Landlord. 
 (d) Late Charges. If Tenant fails to pay any monthly installment of Base Rent by the fifth (5th) day of the month in which the installment is due, a late charge equal to four percent (4%) of the installment shall be
assessed; provided that in no event may any late charge provided in this Paragraph 4(d) exceed the maximum permitted by law or be imposed prior to the date permitted by law. 
 (e) Payment of Rent. All rent and additional rent payments provided for in this Lease shall be payable to Landlord at
the address specified in Paragraph l(h), until notice to the contrary is given by Landlord. Tenant shall have the right to pay Base Rest by direct deposit, and in that event Landlord shall furnish its account information to Tenant upon request.

 (f) Rent an Independent Covenant. Tenant’s obligation to pay Base Rent and other charges under
this Lease shall be an independent covenant, and shall not be affected by Landlord’s failure to perform any of its obligations under this Lease, unless a court of competent jurisdiction determines otherwise. 
 5. Improvements and Delivery of Premises. 
 (a) Landlord Work and Delivery of Premises. On or before ___, 2006, Landlord shall cause to be removed at
Landlord’s expense all underground storage tanks located on the Premises, and Landlord shall fill the areas where the tanks were located with gravel, and shall repave the surface of such area (the “Landlord Work”). Upon completion of
the Landlord Work, Landlord shall deliver the Premises to Tenant in a clean condition, free of all construction debris and materials. Tenant expressly recognizes and agrees that it has inspected the Premises, that Landlord makes no warranty
whatsoever with respect to the condition thereof, that Tenant will accept the Premises in “AS IS” condition upon completion of the Landlord Work, and that there is no obligation whatsoever on the part of the Landlord to make any
improvement to or other modification of the Premises other than the Landlord Work. 
 The date on which exclusive
possession of the Premises is delivered to Tenant shall be the “Commencement Date” for purposes of this Lease. If the Commencement Date has not occurred by
                    , Tenant may terminate this Lease by delivery of written notice to Landlord prior to the occurrence of the Commencement
Date. Tenant and its contractors and employees shall have the right to enter the Premises, at their own risk, prior to the Commencement Date to take measurements and commence Tenant’s renovation work, provided such entry does not unduly
interfere with or delay the progress of Landlord Work. In addition, Tenant shall have the right to hang a “coming soon” banner on the Building during the course of construction. 
 (b) Tenant Work. Upon delivery of the Prernises by Landlord to Tenant, Tenant shall perform, or cause to be performed,
at no expense to Landlord, the following (the “Tenant Work”): (i) the renovation of the Premises; (ii) the installation of such furniture, fixtures and equipment as shall be necessary to open the Premises for business; and
(iii) the erection of building-mounted signage and a free-standing identification sign (the “Signs”). The Tenant Work shall be performed in a good and workmanlike manner, in compliance with all required building and sign permits, laws
and ordinances, and in compliance with plans and specifications approved in advance by Landlord. Tenant agrees to submit to Landlord plans and specifications for the Tenant Work, including sign drawings, prepared in such detail as Landlord may
reasonably require, and Tenant agrees not to commence the Tenant Work until Landlord has approved Tenant’s plans and specifications in writing. Landlord agrees to act with reasonable promptness with respect to such plans and specifications.

 (c) Acceptance of Premises. By occupying the Premises for a period of thirty (30) days following
the Commencement Date, Tenant shall be deemed to have accepted the same acknowledged they are in the condition required by this Lease. 
 6. Use of the Premises. 
 (a) Permitted Use. The Premises shall, during the Lease
Term, be used and occupied only for the Permitted Use, and for no other purposes, without the written consent of Landlord. 
 (b) Compliance with Laws. Tenant shall not use the Premises, or permit the Premises to be used, in violation of any law or ordinance or any regulation of any governmental authority, or in any
manner that will constitute a nuisance, or for any hazardous purpose. 

 (c) Environmental. During the Lease Term, Tenant shall not, and shall
not allow any other party to, bring upon, store, dispose of or install in or upon the Premises or any adjoining property of Landlord: (i) any hazardous wastes, hazardous substances, hazardous materials, toxic substances, hazardous air
pollutants or toxic pollutants, as those terms are used in the Resource Conservation and Recovery Act, the Comprehensive Environmental Response, Compensation and Liability Act of 1980, the Hazardous Materials Transportation Act, the Toxic Substances
Control Act, the Clean Air Act and the Clean Water Act, or any amendments thereto, or any regulations promulgated thereunder; (ii) any “PCBs” or “PCB items” (as defined in 40 C.F.R. §761.3); or (iii) any
“asbestos” (as defined in 40 C.F.R. §763.63). Tenant shall indemnify, defend and hold Landlord harmless from and against any liability, cost, damage or expense incurred or sustained by Landlord (including, without limitation,
reasonable attorneys’ fees and expenses, court costs and costs incurred in the investigation, settlement and defense of claims) as a result of or in connection with any violation of the preceding prohibition. It is specifically understood and
agreed to by Tenant that the indemnity contained in this paragraph shall survive the expiration or earlier termination of the Lease Term. 
 Landlord represents and warrants to Tenant that, to the best of Landlord’s knowledge, none of the hazardous substances described in the preceding paragraph are located on the Premises as of the date
hereof It is understood and agreed that under no circumstances shall Tenant be liable for any environmental contamination introduced to the Premises by Landlord, its employees, agents, contractors, or any predecessor tenants. 
 7. Maintenance and Alterations. Landlord shall maintain and make necessary repairs to the exterior, roof, foundations, floor
slab, supporting walls, and other principal structural portions of the Building, provided, however, that Landlord will not be responsible for or required to make, and Tenant will make, any repairs which may have been occasioned or necessitated by
the negligence of Tenant, its agents, employees or invitees. Landlord shall not be liable for any damages resulting from its failure to make repairs unless Landlord has received notice of the need for such repair in writing, and a reasonable period
of time has elapsed and Landlord has failed to make such repair. 
 Tenant will, at its expense, keep the balance of the
Premises in a clean and orderly condition at all times during the Lease Term, and will keep and maintain the interior of the Building (including all mechanical systems and plate glass) in good order and repair during the full Lease Term. In
addition, Tenant shall be responsible, at its expense, for the maintenance and repair of all exterior paved and landscaped areas located on the Land. 
 Tenant agrees that it shall be solely responsible for the repair and replacement of all heating and air conditioning equipment serving the Building, and for compliance with applicable laws covering the
use, maintenance and replacement of such equipment. Tenant shall keep in force a standard maintenance agreement on all such equipment satisfactory to Landlord. If Tenant is required to replace any equipment (including HVAC equipment) serving the
Building to comply with its obligations set forth above, the replacement equipment shall be substantially similar in quality (commercial grade) to the equipment being replaced. 
 If any repairs required to be made by Tenant under this Lease are not completed within ten (10) days, or in case of emergency if
repairs are not made immediately, Landlord, without limiting any other right or remedy it may have therefore, may at its option make such repairs without liability to Tenant for any loss or damage to Tenant’s personal property resulting from
such repairs, and Tenant shall pay to Landlord, as additional rent within ten (10) days after written demand, the cost of such repairs. If any repairs required to be made by Tenant are commenced when necessary, but cannot be completed within
ten (10) days, then Tenant shall have an additional reasonable period of time to complete the repairs, so long as it continues to prosecute the completion of such repairs with due diligence, and provided it keeps Landlord fully informed on the
progress of the repairs. 
 Tenant shall not make any structural or exterior alterations to the Building, or any additions to
the Building or the other Improvements, without the prior written approval by Landlord of plans and specifications for such work. In addition, Tenant shall not alter the Signs, or erect any other free-standing or building-mounted signs on the
Premises, without the prior written approval by Landlord of plans for such signs. 
 8. Utilities. During the
Lease Term, Tenant shall pay for all electricity, heat, air conditioning, water, sewage, janitor service, garbage disposal and other utilities or services required by it in the use of the Premises. 
 9. Laws and Insurance Standards. Tenant shall, during the Lease Term, at no expense to Landlord, promptly comply with all
laws, ordinances, rules, regulations, directives and standards of all federal, state, county and municipal governments and all departments and agencies thereof having jurisdiction over the Premises, with respect to matters arising after the date of
execution of this Lease. Tenant shall, at no expense to Landlord, make all changes to the improvements on the Premises which may be required in order to comply with the foregoing. Tenant expressly covenants and agrees to indemnify and save Landlord
harmless from any penalties, damages or charges imposed for any violation of any of the above covenants, whether occasioned by Tenant or any person upon the Premises by license or invitation of Tenant. Notwithstanding the foregoing, Tenant shall not
be required to make, and Landlord shall make, any structural alterations or repairs necessary to comply with the foregoing, unless such repairs are made necessary by any act, work or omission of Tenant, in which event the alterations or repairs
shall be made at Tenant’s expense. 

 Tenant shall have no claim against Landlord for any damages should Tenant’s use and
occupancy of the Premises be prohibited or substantially impaired by reason of any law, ordinance or regulation of federal, state, county or municipal governments or by reason of any act of any legal or governmental or other public authority
occurring after the date of this Lease. Notwithstanding the foregoing, if such laws completely prohibit the Premises from being used for the operation of a consumer finance business, Tenant shall have the right to terminate this Lease by delivery of
written notice to Landlord. 
 10. Indemnification of Landlord and Liability Insurance. 
 (a) Indemnification by Tenant. Tenant shall indemnify, protect, defend and hold Landlord harmless from claims,
actions, damages, liabilities and expenses (including reasonable attorneys’ fees and court costs) in connection with loss of life, bodily or personal injury or property damage: (i) arising from or out of any occurrence in, upon, at or from
the Premises; (ii) arising from the occupancy or use by Tenant of the Premises; (iii) caused by any act or omission by Tenant, its agents, contractors, employees, licensees or concessionaires; or (iv) resulting from a breach of the
Lease by Tenant. For purposes of this subparagraph 10(a), the term “Landlord” shall include its partners, members, managers, shareholders, officers, directors and employees, as applicable. 
 (b) Indemnification by Landlord. Landlord shall indemnify, protect, defend and hold Tenant harmless from claims,
actions, damages, liabilities and expenses (including reasonable attorneys’ fees and court costs) in connection with loss of life, bodily or personal injury or property damage: (i) arising from or out of any negligent act or omission by
Landlord, its employees, agents or contractors, or (ii) resulting from any breach, violation, or non-performance by Landlord of its obligations under this Lease. 
 (c) Liability Insurance. Tenant shall at all times during the Lease Term maintain in full force and effect the
following insurance in standard form generally in use in the State of North Carolina, with a responsible insurance company or companies authorized to do business in that State, which are satisfactory to Lessor: 
 (i) Commercial general liability insurance (current ISO Form or its equivalent) covering bodily injury, death and property
damage in the amount of at least Two Million and No/100 Dollars ($2,000,000.00) per occurrence, with an aggregate per location limit of at least Two Million and No/100 Dollars ($2,000,000.00). Tenant’s liability insurance obligations may be
satisfied through any combination of primary, excess and umbrella liability coverage. 
 (ii) Employer’s
liability insurance with minimum limits of at least $500,000/$500,000/$500,000, and worker’s compensation insurance as required by the applicable laws of the State of North Carolina. 
 Tenant’s liability insurance policy shall name Landlord as an additional insured, and shall contain an endorsement
requiring thirty (30) days’ written notice from the insurance company to Landlord prior to the cancellation of the policy, of any change in coverage, scope or amount of the policy. Prior to the Commencement Date, and thereafter not less
than thirty (30) days prior to the expiration of any such policy, Tenant shall deliver to Landlord copies of such policies or certificates evidencing the same, together with satisfactory evidence of proof of payment of premiums. Landlord shall
have the right, by delivery of notice to Tenant from time to time during the term of this Lease, to increase the minimum insurance coverages required in this Paragraph 10 to amounts then required by prudent landlords of similar commercial properties
in McDowell County, North Carolina. 
 (d) Blanket Policies. The insurance required by this Paragraph 10
may be included in policies of insurance covering multiple locations, provided that: (i) in all other respects, each such policy shall comply with the requirements of this Paragraph 10; (ii) the policy shall specify, or Tenant shall
furnish Landlord with a written certificate from insurer specifying, (A) the maximum amount of the total insurance afforded by the blanket policy to the Premises, and (B) any sub limits in the blanket policy applicable to the Premises,
which amounts shall not be less than the amounts required by this Paragraph 10; and (iii) the protection afforded the insuring party under the blanket policy shall be no less than that which would have been afforded under a separate policy or
policies relating only to the Premises. 
 11. Property Insurance, Damage and Destruction. 
 (a) Landlord’s Insurance. At all times during the Lease Term, Landlord shall pay all premiums for and maintain in
effect, with a responsible insurance company or companies authorized to do business in the State of North Carolina, a policy of

 
property insurance (ISO Special Form or its equivalent) covering the Building, providing coverage in the amount of at least 90% of the replacement cost of the Building (less the cost of
foundations, footings, excavation and paving). Nothing in this Paragraph 11(a) shall prevent the taking out of policies of blanket insurance, which may cover real and/or personal property and improvements in addition to the Building; provided,
however, that in all other respects each such policy shall comply with the other provisions of this Paragraph 11(a). 
 The policy of insurance required by this Paragraph 11(a) shall contain an endorsement requiring thirty (30) days’ written notice from the insurance company to Tenant prior to the cancellation of the policy or any change in the
coverage, scope or amount of the policy. Prior to the Commencement Date, and thereafter not less than thirty (30) days prior to the expiration of any such policy, Landlord will furnish to Tenant, copies of policies or certificates of insurance
evidencing coverage’s required by this Paragraph 11(a). 
 (b) Tenant’s Insurance. At all times
during the Lease Term, Tenant shall pay all premiums for and maintain in effect, with a responsible insurance company or companies authorized to do business in the State of North Carolina, a policy of property insurance (ISO Special Form or its
equivalent) covering Tenant’s trade fixtures, furniture, inventory and equipment used in the Premises providing coverage of at least eighty percent (80%) of the replacement cost of such property. 
 The insurance required under this Paragraph 11(b) shall contain an endorsement requiring thirty (30) days’ written
notice from the insurance company to Landlord prior to the cancellation of the policy or any change in the coverage, scope or amount of the policy. Prior to the Commencement Date, and thereafter not less than thirty (30) days prior to the
expiration of any such policy, Landlord will furnish to Tenant, copies of policies or certificates of insurance evidencing coverage’s required by this Paragraph 11(a). 
 (c) Waiver of Subrogation. Any policy of property insurance required by this Paragraph 11 shall contain a waiver of
any right of subrogation which the insurer may acquire against the other party by virtue of payment of any claim under such insurance policy, so long as such a waiver of subrogation is available without the payment of an additional premium. If the
waiver of subrogation is available only upon payment of an additional premium, Landlord may require Tenant to obtain the waiver, provided that Landlord agrees to pay the additional premium therefore. 
 (d) Repair and Reconstruction. Unless this Lease is terminated as provided in Paragraph 11(f), after any damage or
destruction to the Building, Landlord shall repair and restore those portions of the Building originally constructed by it to substantially the same condition as existed immediately prior to the casualty, and Tenant shall likewise repair and restore
the remaining portion of the Building, including all exterior signs, trade fixtures, equipment, furniture, furnishings and other installations of Tenant. If Landlord has not commenced its repair work within ninety (90) days after the casualty,
or completed its repair work within one hundred eighty (180) days after the casualty, then in either event Tenant may terminate this Lease by delivery of written notice to Landlord at any time before Landlord commences or completes its repair
or as applicable. 
 (e) Use of Proceeds. All insurance proceeds payable with respect to the Premises,
excluding proceeds from any policy of insurance maintained by Tenant under Paragraph 11(b), shall be held and disbursed in accordance with the provisions of this Paragraph 11. If this Lease is not terminated as provided in Paragraph 11(f), any
insurance recovery shall be applied as follows: first, to be applied against the cost to Landlord of restoration and rebuilding of any improvements as provided in Paragraph 11(d); and second, the balance of any insurance recovery shall belong to and
be the exclusive property of Landlord. 
 (f) Termination. If (i) the Building is damaged or
destroyed at any time during the Lease Term by any casualty that is not covered by the insurance required to be maintained by Landlord under Paragraph ll(a), and the amount of the damage is greater than twenty-five percent (25%) of the
replacement cost of the Building, or (ii) the Building is damaged or destroyed by any casualty that is covered by the policy of insurance required to be maintained by Landlord under Paragraph 11(a), but the damage occurs during the last two
(2) Lease Years of the initial Lease Term or of any Renewal Period, and the amount of the damage exceeds twenty-five percent (25%) of the replacement cost of the Building, then in either event Landlord may terminate this Lease by delivery
of written notice to Tenant within ninety (90) days after the casualty. Upon such termination, Tenant shall surrender the Premises to Landlord, and neither party shall have any further obligations or liabilities under this Lease. Upon the
termination of this Lease in accordance with the provisions of this Paragraph ll(f), all insurance proceeds shall belong to and shall be payable to Landlord, and Tenant shall have no right or claim with respect to those proceeds. 
 (g) Timing. If the Building is damaged or destroyed, but this Lease is not terminated pursuant to Paragraph 11(f), the
parties shall commence their obligations under Paragraph 11(d) as soon as is reasonably possible, but no later than ninety (90) days after the date of the casualty, and shall prosecute the same to completion with all due diligence. In the event
of any termination of this Lease under the provisions of Paragraph 11(f), this Lease shall terminate at the end of the calendar month in which the notice of termination is given. 

 (h) Rent Abatement. If the Building is damaged by fire or other
casualty, the Base Rent and other charges payable under this Lease shall abate in proportion to the degree in which Tenant’s use of the Building is impaired during the period of any damage, repair or restoration provided for in this Paragraph
11. Except for the abatement of Base Rent and other charges provided for above, Tenant shall not be entitled to any compensation or damage from Landlord for loss of the use of the whole or any part of the Premises, or for inconvenience or annoyance
occasioned by any damage, destruction, repair or restoration. 
 12. Ownership of Certain Property and Surrender of
Premises. During the Lease Term, any personal property, trade fixtures or leasehold improvements placed upon the Premises by Tenant shall remain the property of Tenant. Upon the termination of this Lease, Tenant shall surrender to Landlord
the Premises, including, without limitation, the Building and other Improvements then located upon the Premises, in good condition and repair, free and clear of all Tenant’s personal property, signs, trade fixtures and equipment, and Tenant
shall repair any damage to the Building caused by such removal. Notwithstanding the foregoing, Tenant shall not be obligated to remove any permanent leasehold improvements from the Premises. 
 13. Landlord’s Entry. Landlord shall have the right to enter upon the Premises at all reasonable times during the Lease
Term upon twenty-four (24) hours prior written notice (except that no notice shall be required in an emergency) for the purposes of inspection, maintenance or repair. 
 14. Default. 
 (a) Events of Default. Each of the following shall constitute an event of default by Tenant under this Lease: 
 (i) Tenant fails to pay any installment of Base Rent or other charges payable under this Lease within ten (10) days after written notice from Landlord that such amount is overdue; 
 (ii) Tenant fails to observe or perform any of the other covenants, conditions or provisions of this Lease to be observed or
performed by Tenant, and fails to cure such default within thirty (30) days after written notice from Landlord; 
 (iii) a petition is filed by or against Tenant to declare Tenant bankrupt or seeking a plan of reorganization or arrangement under any Chapter of the Bankruptcy Code, and if such petition is filed against Tenant, it is not dismissed within
forty-five (45) days; 
 (iv) Tenant’s interest in this Lease is levied upon under execution or other
legal process and such execution is not dissolved within thirty (30) days; 
 (v) Tenant is declared
insolvent by law or any assignment of Tenant’s property is made for the benefit of creditors; or 
 (vi) a
receiver is appointed for Tenant or Tenant’s property. 
 (b) Remedies. Upon the occurrence of an event of
default by Tenant under this Lease, Landlord, at its option, without further notice or demand to Tenant, may in addition to all other rights and remedies provided in this Lease, at law or in equity: 
 (i) terminate this Lease and Tenant’s right of possession of the Premises, and recover all damages to which Landlord is
entitled as a result of Tenant’s breach. These damages include: (A) all costs and expenses (including reasonable attorneys’ fees and court costs) incurred by Landlord in enforcing its rights under this Lease, (B) all expenses of
reletting the Premises (including repairs, alterations, legal fees and brokerage commissions), and (C) an amount equal to the present value of the difference between the rent that would be payable by Tenant under this Lease for the balance of
the Lease Term and the reasonable rental value of the Premises for the balance of the Lease Term; or 
 (ii)
terminate Tenant’s right of possession of the Premises without terminating this Lease, in which event Landlord may, but shall not be obligated to, relet all or part of the Premises for the account of Tenant, for such rent and term and upon such
terms and conditions as are acceptable to Landlord. Landlord agrees that it will use reasonable efforts to mitigate its damages. Landlord may, at its option, enter into the Premises, remove Tenant’s property, and take and hold possession of the
Premises; provided, however, that such entry and possession shall not terminate this Lease or

 
release Tenant, in whole or in part, from Tenant’s obligation to pay all Base Rent and other charges provided in this Lease for the full Lease Term, or from any other obligation of Tenant
under this Lease. Until Landlord relets the Premises, Tenant shall continue to pay Landlord all Base Rent and other charges payable under this Lease, as and when payable under this Lease. If and when the Premises is relet and a sufficient sum is not
realized from such reletting, after payment of all Landlord’s expenses of reletting (including repairs, alterations, improvements, additions, decorations, legal fees and brokerage commissions), to satisfy the payment of Base Rent and other
charges payable under this Lease for any month, Tenant shall pay Landlord the deficiency monthly upon demand. Tenant agrees that Landlord may file suit to recover any sums due to Landlord under this Paragraph 14(b)(ii) from time to time and that the
filing of a suit or the recovery of any amount due Landlord shall not be any defense to any subsequent action brought for any amount not previously reduced to judgment in favor of Landlord. 
 15. No Waiver. No delay or omission of Landlord to exercise any right or power arising from any default on the part of Tenant
shall impair any such right or power, or shall be construed to be a waiver of any such default or an acquiescence thereto. In particular, the receipt by Landlord of rent with knowledge of the breach of any covenant of this Lease shall not be deemed
a waiver of such breach, and no provision of this Lease shall be deemed to have been waived by Landlord unless the waiver is in writing and signed by Landlord. 
 16. Condemnation. If any part of the Building or more than twenty percent (20%) of the parking spaces located within the Premises are taken under the power of eminent domain (including
any conveyance made in lieu thereof), then either party shall have the right to terminate this Lease by giving written notice of termination to the other party within thirty (30) days after such taking. If this Lease is not terminated, Landlord
shall apply the proceeds of such condemnation to repair and restore the Building and the remainder of the Premises, in which case the Base Rent payable by Tenant under this Lease shall be proportionately and equitably reduced. All compensation
awarded for any taking (or the proceeds of private sale in lieu thereof) of all or any portion of the Premises shall be the property of Landlord, whether such award is compensation for damages to Landlord’s or Tenant’s interest in the
Premises, and Tenant hereby assigns all of its interest in any such award to Landlord. Notwithstanding the foregoing, Tenant may make a separate claim against the condemning authority for its moving expenses, for the value of its furniture,
equipment and trade fixtures and for loss of business, and the proceeds of any such separate award shall belong to Tenant. 
 17. Assignment and Subletting. 
 (a) Consent Required. Except as expressly
permitted in Paragraph 17(b), Tenant shall not voluntarily or by operation of law, assign, transfer, mortgage or otherwise encumber all or any part of Tenant’s interest in this Lease or in the Premises, or sublet the whole or any part of the
Premises, without first obtaining the prior written consent of Landlord, which consent shall not be unreasonably withheld, delayed, or conditioned. The consent by Landlord to any assignment or subletting shall not constitute a waiver of the
necessity for such consent to any subsequent assignment or subletting. Receipt by Landlord of rent due under this Lease from any party other than Tenant shall not be deemed a consent to any assignment or subletting, nor relieve Tenant of its
obligation to pay the rent provided in this Lease for the full Lease Term. 
 (b) Corporate Transfers.
Tenant may assign this Lease to, or merge with, its parent corporation, or any affiliate or subsidiary of its parent corporation, without the prior written consent of Landlord, but Tenant shall provide Landlord with written notice of such
transaction. Any other merger, or any dissolution, consolidation or other reorganization of Tenant, or the sale or other transfer (except as the result of death) of more than fifty percent (50%) of the corporate stock of Tenant or fifty percent
(50%) of its voting stock shall constitute an assignment of this Lease for all purposes of this Paragraph 17 and is prohibited without the written consent of Landlord. 
 (c) Standards of Reasonableness. If Tenant proposes an assignment or sublease for Landlord’s approval under this
Paragraph 17, Landlord shall not be deemed unreasonable for requiring that the proposed assignee or subtenant: (i) have a net worth (according to a financial statement prepared by an independent certified public accounting firm) adequate to
satisfy the obligations of Tenant under this Lease; (ii) be financially responsible; and (iii) intend to operate the Premises for the Permitted Use. 
 (d) Effect of Assignment. If Landlord consents to any transfer of Tenant’s interest in his Lease, or if
Landlord’s consent is not required, then the term “Tenant” shall thereafter be deemed to include, without further reference, the party to whom such interest is transferred, such as any subtenant, assignee, concessionaire or licensee.
If this Lease is assigned or if the Premises is occupied by anybody other than Tenant, without Landlord’s prior written consent, Landlord may, nevertheless, collect rent from the alleged assignee or occupant and apply the net amount collected
to rent herein reserved, but such action shall not constitute a waiver of this Paragraph 17. Notwithstanding any assignment or sublease permitted by this Lease or consented to by Landlord, Tenant, and any guarantor of this Lease, shall remain fully
liable and shall not be released from performing any of the terms of this Lease, even if it is amended. 

 18. Notices. All notices provided for in this Lease shall be in writing and
shall be deemed to be given when sent by prepaid registered or certified mail, return receipt requested, or by a nationally recognized courier service that provides proof of delivery, addressed to the parties at the addresses specified in Paragraphs
l(g) and l(h). Either party may, from time to time, by ten (10) days’ prior written notice given as provided above, designate a different address to which notices to it shall be sent. 
 19. Holding Over. If Tenant remains in possession of the Premises or any part thereof after the expiration of the Lease Term
with Landlord’s acquiescence but without any written agreement of the parties, Tenant shall be only a tenant from month to month, on the terms and conditions set forth in this Lease, including the Base Rent and other charges in effect
immediately prior to the holdover, and there shall be no renewal of this Lease or exercise of an option by operation of law. Such holdover tenancy shall be terminable by either party on thirty (30) days’ prior written notice. 

20. Transfer of Landlord’s Interest. In the event of the sale, assignment or transfer by Landlord of its interest in
the Premises or in this Lease (other than a collateral assignment to secure a debt of Landlord) to a successor in interest who expressly assumes the obligations of Landlord under this Lease, Landlord shall be released or discharged from all of its
covenants and obligations under this Lease, except such obligations as shall have accrued prior to any such sale, assignment or transfer; and Tenant agrees to look solely to such successor in interest of Landlord for performance of such obligations.
Landlord’s assignment of this Lease or of any or all of its rights herein shall not affect Tenant’s obligations hereunder. Tenant shall thereafter attorn and look to such assignee, as Landlord, provided Tenant has first received written
notice of such assignment of Landlord’s interest. 
 21. Warranty. Landlord warrants to Tenant that:
(a) Landlord holds fee simple title to the Premises; (b) Landlord has full right and authority to lease the Premises upon the terms and conditions set forth in this Lease; and (c) Tenant shall peacefully and quietly hold and enjoy the
Premises for the full Lease Term so long as it does not default in the performance of any of its obligations under this Lease. 
 22. Short Form Lease. Upon the commencement of the Lease Term, the parties shall execute in recordable form a memorandum or short form lease agreement in recordable form, specifying the commencement and termination dates of
the Lease Term and including any such other provisions of this Lease (exclusive of provisions dealing with monetary terms) as either party may reasonably desire to incorporate therein. 
 23. Mechanics’ Liens. Tenant covenants and agrees to do all things necessary to prevent the filing of any mechanics’
or other liens against the Premises or any part thereof by reason of work, labor, services or materials supplied or claimed to have been supplied to Tenant, or anyone holding the Premises or any part thereof through or under Tenant. If any such lien
shall at any time be filed against Tenant’s interest in the Premises, Tenant shall either cause the same to be discharged of record within twenty (20) days after the date of filing, or, if Tenant, in Tenant’s discretion and in good
faith, determines that the lien should be contested, shall furnish such security as may be necessary or required to prevent the pendency of such contest. If Tenant shall fail to discharge such lien within such period or fail to furnish such
security, then, in addition to any other right or remedy of Landlord resulting from Tenant’s default, Landlord may, but shall not be obligated to, discharge the same either by paying the amount claimed to be due or by procuring the discharge of
such lien by giving security or in such other manner as is, or may be, prescribed by law, and Tenant shall, within ten (10) days after written demand by Landlord, reimburse Landlord for all of its costs and expenses arising in connection with
the lien (including reasonable attorneys’ fees). Nothing contained in this Paragraph 23 shall imply any consent or agreement on the part of Landlord to subject Landlord’s estate to liability under any mechanics’ or other lien law.

 24. Force Majeure. If Landlord or Tenant is delayed, hindered or prevented from the performance of any act
required under this Lease, by reason of governmental restrictions, scarcity of labor or materials, strikes, fire, or any other reasons beyond its control, the performance of the act shall be excused for the period of delay, and the period for the
performance of the such act shall be extended for the period necessary to complete performance after the end of the period of such delay. 
 25. Limitation of Liability. Notwithstanding anything contained in this Lease to the contrary, Tenant agrees that it shall look solely to the estate and property of Landlord in the land
comprising the Premises for the collection of any judgment (or other judicial process) requiring the payment of money by Landlord for any default or breach by Landlord of any of its obligations under this Lease, subject, however, to the prior rights
of any ground or underlying landlord or the holder of any mortgage covering the Premises or Landlord’s interest therein. No other assets of the Landlord shall be subject to levy, execution or other judicial process for the satisfaction of
Tenant’s claim. 

 26. Fee Mortgages. This Lease shall be subject and subordinate to the lien of
any mortgage or deed of trust in existence or subsequently obtained by Landlord and covering its interest in the Premises. As a condition to such subordination, the mortgagee shall agree in writing that this Lease shall not be divested or in any way
affected by a foreclosure or other default proceedings under the mortgage or the obligations secured thereby, so long as Tenant is not in default under the terms of this Lease, beyond the expiration of any applicable cure period. Tenant agrees that
this Lease shall remain in full force and effect notwithstanding any such default proceeding, and further agrees that it will attorn to the mortgagee, or to its successors or assigns, including any purchaser at any such foreclosure. Tenant agrees
that, upon request by Landlord, it shall enter into a Subordination, Non-Disturbance and Attornment Agreement in order to give effect to the provisions of this Paragraph 26. 
 27. Nature and Extent of Agreement. This instrument contains the complete agreement of the parties regarding the terms and
conditions of the lease of the Premises, and there are no oral or written conditions, terms, understandings or other agreements pertaining thereto which have not been incorporated herein. This instrument creates only the relationship of landlord and
tenant between the parties as to the Premises; and nothing in this Lease shall in any way be construed to impose upon either party any obligations or restrictions not expressly set forth in this Lease. The laws of the State of North Carolina shall
govern the validity, interpretation, performance and enforcement of this Lease. 
 28. Binding Effect. This Lease
shall be binding upon and shall inure to the benefit of the parties hereto and their respective permitted successors and assigns. 
 29. Counterparts. This Lease may be executed in any number of counterparts, each of which shall be deemed an original once executed and delivered. 
 30. Unenforceability. If any provision of this Lease or its application to any person or circumstance shall, to any extent, be deemed valid or unenforceable, the remaining provisions of this
Lease, and the application of that provision to other persons or circumstances, shall not be affected. 
 31.
Captions. The captions for each section in this Lease have been inserted only as a matter of convenience and for reference, and in no way define, limit or affect the scope or intent of that section. 
 32. Action by Commissioner of Banks. Notwithstanding any other provisions contained in this Lease, if Tenant is closed or
taken over by the North Carolina Commissioner of Banks, or other bank supervisory authority, then Landlord may terminate the lease only with the concurrence of the Commissioner of Banks or other bank supervisory authority, and any such authority
shall in any event have the election either to continue or to terminate the lease. If this Lease is terminated due to the fact that Tenant is closed or taken over by the North Carolina Commissioner of Banks, or other bank supervisory authority, the
maximum claim of Landlord for damages or indemnity for injury resulting from the rejection or abandonment of the unexpired term of this Lease shall not exceed the rent reserved by this Lease, without acceleration, for the year next succeeding the
date of the surrender of the premises to Landlord, or the date of re-entry of Landlord, whichever first occurs, whether before or after closing of the bank, plus an amount equal to the unpaid rent accrued, without acceleration, up to such date.

 [Signatures on following page] 

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

			
	LANDLORD:
	
	GREAT MEADOWS, INC.
		
	By:	 	/s/ VAN PHILLIPS
		 	Van Phillips, President
	
	TENANT:
	
	MOUNTAIN 1ST BANK & TRUST COMPANY
		
	By: 	 	/s/ LEE BEASON
		 	Lee Beason, EVP

 EXHIBIT A 
 Legal Description of the Premises 
 Located in the city of Marion,
Marion Township, McDowell County, North Carolina, and more particularly described as follows: 
 BEGINNING at an iron pin set in the northern
margin of the right-of-way of U.S. Highway 70. (100-foot wide), which iron pin is located S 64-29-12 W 851.94 feet from the N. C. G. S. Monument “Darrell” (N. C. G. S. coordinates Y=725,624.402, X=1,099,824.138, NAD 27); and thence, from
said point of BEGINNING, continuing with the northern right-of-way margin of U. S. Highway 70, S 60-53-44 W 170.00 feet to an iron pin set; thence,· leaving the northern right-of-way margin of U.S. Highway 70, N 26-3451 W 250.00 feet to an
iron pin set; thence, N 60-53-44 E 170.00 feet to an iron pin set, in the boundary line of Hugh Richard. Buchanan and Jerry B. Pritchard, now or formerly (as set forth in Deed Book 265, Page 947); thence, running with said boundary line, S 26-34-51
E 250.00 feet to the point and place of BEGINNING; containing 0.97 acres, more or less, all as shown on that survey dated October 22, 1991, prepared by R. Larry Greene, N. C. R. L. S., and entitled “Survey and Division of that Property
Described in a Lease from Great Meadows, Inc. to William J. Kehler, 111.”Entorian Technologies Inc. 2003 Stock Option Plan, as amended to date

 Exhibit 10.1 
 ENTORIAN TECHNOLOGIES INC. 
 AMENDED AND RESTATED

 2003 STOCK OPTION PLAN 
 As amended on November 10, 2003, August 8, 2005, 
 August 30, 2007, February 28, 2008, April 17, 2008 and November 6, 2008 
 (and
split adjusted on January 16, 2004 and October 31, 2009) 
 1. Establishment, Purpose and Term of Plan. 

1.1 Establishment. The Staktek Holdings, Inc. 2003 Stock Option Plan (the “Plan”) was
established effective as of July 7, 2003, was amended effective as of November 10, 2003, August 8, 2005, August 30, 2007, February 28, 2008, April 17, 2008 and November 6, 2008, and was split
adjusted effective January 16, 2004 and October 31, 2009. 
 1.2 Purpose. The purpose of the Plan is to advance
the interests of the Participating Company Group and its stockholders by providing an incentive to attract and retain persons performing services for the Participating Company Group and by motivating such persons to contribute to the growth and
profitability of the Participating Company Group. 
 1.3 Term of Plan. The Plan shall continue in effect until the
earlier of its termination by the Board or the date on which all of the shares of Stock available for issuance under the Plan have been issued and all restrictions on such shares under the terms of the Plan and the agreements evidencing Options
granted under the Plan have lapsed. However, all Options shall be granted, if at all, within ten (10) years from the earlier of the date the Plan is adopted by the Board or the date the Plan is duly approved by the stockholders of the Company.

 2. Definitions and Construction. 
 2.1 Definitions. Whenever used herein, the following terms shall have their respective meanings set forth below: 
 (a) “Board” means the Board of Directors of the Company. If one or more
Committees have been appointed by the Board to administer the Plan, “Board” also means such Committee(s). 
 (b) “Cause” shall mean any of the following: (i) the Optionee’s theft of Company property or falsification of any Participating Company documents or
records; (ii) the Optionee’s improper use or disclosure of a Participating Company’s confidential or proprietary information; (iii) any action by the Optionee which has a detrimental effect on a Participating Company’s
reputation or business; (iv) the Optionee’s failure or inability to perform any reasonable assigned duties or the breach by Optionee of any duties to the Company or its stockholders; (v) any breach by the Optionee of any employment or
service agreement between the Optionee and a Participating Company; or (vi) the Optionee’s conviction (including any plea of guilty or no contest) of any felony, criminal fraud, theft or crime of moral turpitude. 
 (c) “Code” means the Internal Revenue Code of 1986, as amended, and any
applicable regulations promulgated thereunder. 
 (d) “Committee”
means the Compensation Committee or other committee of the Board duly appointed to administer the Plan and having such powers as shall be specified by the Board. Unless the powers of the Committee have been specifically limited, the Committee shall
have all of the powers of the Board granted herein, including, without limitation, the power to amend or terminate the Plan at any time, subject to the terms of the Plan and any applicable limitations imposed by law. 
  

 1 

 (e) “Company” means Entorian
Technologies Inc., a Delaware corporation, or any successor corporation thereto. 
 (f)
“Consultant” means a person engaged to provide consulting or advisory services (other than as an Employee or a Director) to a Participating Company, provided that the identity of such person, the nature of such
services or the entity to which such services are provided would not preclude the Company from offering or selling securities to such person pursuant to the Plan in reliance on either the exemption from registration provided by Rule 701 under the
Securities Act or, if the Company is required to file reports pursuant to Section 13 or 15(d) of the Exchange Act, registration on a Form S-8 Registration Statement under the Securities Act. 
 (g) “Director” means a member of the Board or of the board of directors of any
other Participating Company. 
 (h) “Disability” means the permanent
and total disability of the Optionee within the meaning of Section 22(e)(3) of the Code. 
 (i)
“Employee” means any person treated as an employee (including an officer or a Director who is also treated as an employee) in the records of a Participating Company and, with respect to any Incentive Stock
Option granted to such person, who is an employee for purposes of Section 422 of the Code; provided, however, that neither service as a Director nor payment of a director’s fee shall be sufficient to constitute employment for purposes of
the Plan. 
 (j) “Exchange Act” means the Securities Exchange Act of
1934, as amended. 
 (k) “Fair Market Value” means, as of any date,
the value of a share of Stock or other property as determined by the Board, in its discretion, or by the Company, in its discretion, if such determination is expressly allocated to the Company herein, subject to the following: 
 (i) If, on such date, the Stock is listed on a national or regional securities exchange or market system, the Fair
Market Value of a share of Stock shall be the closing price of a share of Stock (or the mean of the closing bid and asked prices of a share of Stock if the Stock is so quoted instead) as quoted on the Nasdaq National Market, The Nasdaq SmallCap
Market or such other national or regional securities exchange or market system constituting the primary market for the Stock, as reported in The Wall Street Journal or such other source as the Company deems reliable. If the relevant date does
not fall on a day on which the Stock has traded on such securities exchange or market system, the date on which the Fair Market Value shall be established shall be the last day on which the Stock was so traded prior to the relevant date, or such
other appropriate day as shall be determined by the Board, in its discretion. 
 (ii) If, on such date,
the Stock is not listed on a national or regional securities exchange or market system, the Fair Market Value of a share of Stock shall be as determined by the Board in good faith without regard to any restriction other than a restriction which, by
its terms, will never lapse. 
 (l) “Incentive Stock Option” means
an Option intended to be (as set forth in the Option Agreement) and which qualifies as an incentive stock option within the meaning of Section 422(b) of the Code. 
  

 2 

 (m) “Insider” means an officer
or a Director of the Company or any other person whose transactions in Stock are subject to Section 16 of the Exchange Act. 
 (n) “Nonstatutory Stock Option” means an Option not intended to be (as set forth in the Option Agreement) or which does not qualify as an Incentive Stock
Option. 
 (o) “Option” means a right to purchase Stock (subject to
adjustment as provided in Section 4.2) pursuant to the terms and conditions of the Plan. An Option may be either an Incentive Stock Option or a Nonstatutory Stock Option. 
 (p) “Option Agreement” means a written agreement between the Company and an
Optionee setting forth the terms, conditions and restrictions of the Option granted to the Optionee and any shares acquired upon the exercise thereof. An Option Agreement may consist of a form of “Notice of Grant of Stock Option” and a
form of “Stock Option Agreement” incorporated therein by reference, or such other form or forms as the Board may approve from time to time. 
 (q) “Optionee” means a person who has been granted one or more Options. 
 (r) “Parent Corporation” means any present or future “parent
corporation” of the Company, as defined in Section 424(e) of the Code. 
 (s)
“Participating Company” means the Company or any Parent Corporation or Subsidiary Corporation. 
 (t) “Participating Company Group” means, at any point in time, all corporations collectively which are then Participating Companies. 
 (u) “Rule 16b-3” means Rule 16b-3 under the Exchange Act, as amended from
time to time, or any successor rule or regulation. 
 (v) “Securities
Act” means the Securities Act of 1933, as amended. 
 (w)
“Service” means an Optionee’s employment or service with the Participating Company Group, whether in the capacity of an Employee, a Director or a Consultant. An Optionee’s Service shall not be deemed
to have terminated merely because of a change in the capacity in which the Optionee renders Service to the Participating Company Group or a change in the Participating Company for which the Optionee renders such Service, provided that there is no
interruption or termination of the Optionee’s Service. Furthermore, an Optionee’s Service with the Participating Company Group shall not be deemed to have terminated if the Optionee takes any military leave, sick leave, or other bona fide
leave of absence approved by the Company; provided, however, that if any such leave exceeds ninety (90) days, on the ninety-first (91st) day of such leave the Optionee’s Service shall be deemed to have terminated unless the
Optionee’s right to return to Service with the Participating Company Group is guaranteed by statute or contract. Notwithstanding the foregoing, unless otherwise designated by the Company or required by law, a leave of absence shall not be
treated as Service for purposes of determining vesting under the Optionee’s Option Agreement. The Optionee’s Service shall be deemed to have terminated either upon an actual termination of Service or upon the corporation for which the
Optionee performs Service ceasing to be a Participating Company. Subject to the foregoing, the Company, in its discretion, shall determine whether the Optionee’s Service has terminated and the effective date of such termination. 
 (x) “Stock” means the common stock of the Company, as adjusted from time to time
in accordance with Section 4.2. 
  

 3 

 (y) “Subsidiary Corporation”
means any present or future “subsidiary corporation” of the Company, as defined in Section 424(f) of the Code. 
 (z) “Ten Percent Owner Optionee” means an Optionee who, at the time an Option is granted to the Optionee, owns stock possessing more than ten percent
(10%) of the total combined voting power of all classes of stock of a Participating Company within the meaning of Section 422(b)(6) of the Code. 
 2.2 Construction. Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of the Plan. Except when otherwise indicated by
the context, the singular shall include the plural and the plural shall include the singular. Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise. 
 3. Administration. 
 3.1 Administration by the Board. The Plan shall be administered by the Board. All questions of interpretation of the Plan or of any Option shall be determined by the Board, and such determinations shall be final and binding
upon all persons having an interest in the Plan or such Option. 
 3.2 Authority of Officers. Any officer of a
Participating Company shall have the authority to act on behalf of the Company with respect to any matter, right, obligation, determination or election which is the responsibility of or which is allocated to the Company herein, provided the officer
has apparent authority with respect to such matter, right, obligation, determination or election. 
 3.3 Powers of the
Board. In addition to any other powers set forth in the Plan and subject to the provisions of the Plan, the Board shall have the full and final power and authority, in its discretion: 
 (a) to determine the persons to whom, and the time or times at which, Options shall be granted and the number of
shares of Stock to be subject to each Option; 
 (b) to designate Options as Incentive Stock Options or
Nonstatutory Stock Options; 
 (c) to determine the Fair Market Value of shares of Stock or other
property; 
 (d) to determine the terms, conditions and restrictions applicable to each Option (which need
not be identical) and any shares acquired upon the exercise thereof, including, without limitation, (i) the exercise price of the Option, (ii) the method of payment for shares purchased upon the exercise of the Option, (iii) the
method for satisfaction of any tax withholding obligation arising in connection with the Option or such shares, including by the withholding or delivery of shares of stock, (iv) the timing, terms and conditions of the exercisability of the
Option or the vesting of any shares acquired upon the exercise thereof, (v) the time of the expiration of the Option, (vi) the effect of the Optionee’s termination of Service with the Participating Company Group on any of the
foregoing, and (vii) all other terms, conditions and restrictions applicable to the Option or such shares not inconsistent with the terms of the Plan; 
 (e) to approve one or more forms of Option Agreement; 
 (f) to amend, modify, extend, cancel or renew any Option or to waive any restrictions or conditions applicable to any Option or any shares acquired upon the exercise thereof; 
 (g) to accelerate, continue, extend or defer the exercisability of any Option or the vesting of any shares acquired
upon the exercise thereof, including with respect to the period following an Optionee’s termination of Service with the Participating Company Group; 
  

 4 

 (h) to prescribe, amend or rescind rules, guidelines and policies
relating to the Plan, or to adopt supplements to, or alternative versions of, the Plan, including, without limitation, as the Board deems necessary or desirable to comply with the laws of, or to accommodate the tax policy or custom of, foreign
jurisdictions whose citizens may be granted Options; and 
 (i) to correct any defect, supply any omission
or reconcile any inconsistency in the Plan or any Option Agreement and to make all other determinations and take such other actions with respect to the Plan or any Option as the Board may deem advisable to the extent not inconsistent with the
provisions of the Plan or applicable law. 
 3.4 Administration with Respect to Insiders. With respect to
participation by Insiders in the Plan, at any time that any class of equity security of the Company is registered pursuant to Section 12 of the Exchange Act, the Plan shall be administered in compliance with the requirements, if any, of
Rule 16b-3. 
 3.5 Indemnification. In addition to such other rights of indemnification as they may have as
members of the Board or officers or employees of the Participating Company Group, members of the Board and any officers or employees of the Participating Company Group to whom authority to act for the Board or the Company is delegated shall be
indemnified by the Company against all reasonable expenses, including attorneys’ fees, actually and necessarily incurred in connection with the defense of any action, suit or proceeding, or in connection with any appeal therein, to which they
or any of them may be a party by reason of any action taken or failure to act under or in connection with the Plan, or any right granted hereunder, and against all amounts paid by them in settlement thereof (provided such settlement is approved by
independent legal counsel selected by the Company) or paid by them in satisfaction of a judgment in any such action, suit or proceeding, except in relation to matters as to which it shall be adjudged in such action, suit or proceeding that such
person is liable for gross negligence, bad faith or intentional misconduct in duties; provided, however, that within sixty (60) days after the institution of such action, suit or proceeding, such person shall offer to the Company, in writing,
the opportunity at its own expense to handle and defend the same. 
 4. Shares Subject to Plan. 
 4.1 Maximum Number of Shares Issuable. Subject to adjustment as provided in Section 4.2, the maximum aggregate
number of shares of Stock that may be issued under the Plan shall be one million, four hundred two thousand and five hundred (1,402,500) and shall consist of authorized but unissued or reacquired shares of Stock or any combination thereof. If
an outstanding Option for any reason expires or is terminated or canceled or if shares of Stock are acquired upon the exercise of an Option subject to a Company repurchase option and are repurchased by the Company at the Optionee’s exercise
price, the shares of Stock allocable to the unexercised portion of such Option or such repurchased shares of Stock shall again be available for issuance under the Plan. 
 4.2 Adjustments for Changes in Capital Structure. In the event of any stock dividend, stock split, reverse stock split, recapitalization, combination, reclassification or
similar change in the capital structure of the Company, appropriate adjustments shall be made in the number and class of shares subject to the Plan and to any outstanding Options and in the exercise price per share of any outstanding Options. If a
majority of the shares which are of the same class as the shares that are subject to outstanding Options are exchanged for, converted into, or otherwise become (whether or not pursuant to an Ownership Change Event, as defined in
Section 8.1) shares of another corporation (the “New Shares”), the Board may unilaterally amend the outstanding Options to provide that such Options are exercisable for New Shares. In the event of
any such amendment, the number of shares subject to, and the exercise price per share of, the outstanding Options shall be adjusted in a fair and equitable manner as determined by the Board, in its discretion. Notwithstanding the foregoing, any
fractional share resulting from an adjustment pursuant to this Section 4.2 shall be rounded down to the nearest whole number, and

  

 5 

 
in no event may the exercise price of any Option be decreased to an amount less than the par value, if any, of the stock subject to the Option. The adjustments determined by the Board pursuant to
this Section 4.2 shall be final, binding and conclusive. 
 5. Eligibility and Option Limitations. 
 5.1 Persons Eligible for Options. Options may be granted only to Employees, Consultants, and Directors. For
purposes of the foregoing sentence, “Employees,” “Consultants” and “Directors” shall include prospective Employees, prospective Consultants and prospective Directors to whom Options are granted in connection with
written offers of an employment or other service relationship with the Participating Company Group. Eligible persons may be granted more than one (1) Option. 
 5.2 Option Grant Restrictions. Any person who is not an Employee on the effective date of the grant of an Option to such person may be granted only a Nonstatutory Stock Option.
An Incentive Stock Option granted to a prospective Employee upon the condition that such person become an Employee shall be deemed granted effective on the date such person commences Service with a Participating Company, with an exercise price
determined as of such date in accordance with Section 6.1. 
 5.3 Fair Market Value
Limitation. To the extent that options designated as Incentive Stock Options (granted under all stock option plans of the Participating Company Group, including the Plan) become exercisable by an Optionee for the first time during
any calendar year for stock having a Fair Market Value greater than One Hundred Thousand Dollars ($100,000), the portions of such options which exceed such amount shall be treated as Nonstatutory Stock Options. For purposes of this
Section 5.3, options designated as Incentive Stock Options shall be taken into account in the order in which they were granted, and the Fair Market Value of stock shall be determined as of the time the option with respect to such stock
is granted. If the Code is amended to provide for a different limitation from that set forth in this Section 5.3, such different limitation shall be deemed incorporated herein effective as of the date and with respect to such Options as
required or permitted by such amendment to the Code. If an Option is treated as an Incentive Stock Option in part and as a Nonstatutory Stock Option in part by reason of the limitation set forth in this Section 5.3, the Optionee may
designate which portion of such Option the Optionee is exercising. In the absence of such designation, the Optionee shall be deemed to have exercised the Incentive Stock Option portion of the Option first. Separate certificates representing each
such portion shall be issued upon the exercise of the Option. 
 6. Terms and Conditions of Options. 
 Options shall be evidenced by Option Agreements specifying the number of shares of Stock covered thereby, in such form as the Board shall
from time to time establish. No Option or purported Option shall be a valid and binding obligation of the Company unless evidenced by a fully executed Option Agreement. Option Agreements may incorporate all or any of the terms of the Plan by
reference and shall comply with and be subject to the following terms and conditions: 
 6.1 Exercise
Price. The exercise price for each Option shall be established in the discretion of the Board; provided, however, that (a) the exercise price per share for an Option shall be not less than the Fair Market Value of a share of
Stock on the effective date of grant of the Option, and (b) no Incentive Stock Option granted to a Ten Percent Owner Optionee shall have an exercise price per share less than one hundred ten percent (110%) of the Fair Market Value of a
share of Stock on the effective date of grant of the Option. Notwithstanding the foregoing, an Option (whether an Incentive Stock Option or a Nonstatutory Stock Option) may be granted with an exercise price lower than the minimum exercise price set
forth above if such Option is granted pursuant to an assumption or substitution for another option in a manner qualifying under the provisions of Section 424(a) of the Code. 
  

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 6.2 Exercisability and Term of Options. Options shall be
exercisable at such time or times, or upon such event or events, and subject to such terms, conditions, performance criteria and restrictions as shall be determined by the Board and set forth in the Option Agreement evidencing such Option; provided,
however, that (a) no Option shall be exercisable after the expiration of ten (10) years after the effective date of grant of such Option, (b) no Incentive Stock Option granted to a Ten Percent Owner Optionee shall be exercisable after
the expiration of five (5) years after the effective date of grant of such Option, and (c) no Option granted to a prospective Employee, prospective Consultant or prospective Director may become exercisable prior to the date on which such
person commences Service with a Participating Company. Subject to the foregoing, unless otherwise specified by the Board in the grant of an Option, any Option granted hereunder shall terminate ten (10) years after the effective date of grant of
the Option, unless earlier terminated in accordance with its provisions. 
 6.3 Payment of Exercise Price. 
 (a) Forms of Consideration Authorized. Except as otherwise provided below, payment of the exercise price
for the number of shares of Stock being purchased pursuant to any Option shall be made (i) in cash, by check or cash equivalent, (ii) by tender to the Company, or attestation to the ownership, of shares of Stock owned by the Optionee
having a Fair Market Value (as determined by the Company without regard to any restrictions on transferability applicable to such stock by reason of federal or state securities laws or agreements with an underwriter for the Company) not less than
the exercise price, (iii) by delivery of a properly executed notice together with irrevocable instructions to a broker providing for the assignment to the Company of the proceeds of a sale or loan with respect to some or all of the shares being
acquired upon the exercise of the Option (including, without limitation, through an exercise complying with the provisions of Regulation T as promulgated from time to time by the Board of Governors of the Federal Reserve System) (a
“Cashless Exercise”), (iv) provided that the Optionee is an Employee and in the Company’s sole discretion at the time the Option is exercised, by delivery of the Optionee’s promissory note in a
form approved by the Company for the aggregate exercise price, provided that, if the Company is incorporated in the State of Delaware, the Optionee shall pay in cash that portion of the aggregate exercise price not less than the par value of the
shares being acquired, (v) by such other consideration as may be approved by the Board from time to time to the extent permitted by applicable law, or (vi) by any combination thereof. The Board may at any time or from time to time, by
approval of or by amendment to the standard forms of Option Agreement described in Section 7, or by other means, grant Options which do not permit all of the foregoing forms of consideration to be used in payment of the exercise price or
which otherwise restrict one or more forms of consideration. 
 (b) Limitations on Forms of
Consideration. 
 (i) Tender of Stock. Notwithstanding the foregoing, an Option may not be
exercised by tender to the Company, or attestation to the ownership, of shares of Stock to the extent such tender or attestation would constitute a violation of the provisions of any law, regulation or agreement restricting the redemption of the
Company’s stock. Unless otherwise provided by the Board, an Option may not be exercised by tender to the Company, or attestation to the ownership, of shares of Stock unless such shares either have been owned by the Optionee for more than six
(6) months or were not acquired, directly or indirectly, from the Company. 
 (ii) Cashless
Exercise. The Company reserves, at any and all times, the right, in the Company’s sole and absolute discretion, to establish, decline to approve or terminate any program or procedures for the exercise of Options by means of a Cashless
Exercise. 
 (iii) Payment by Promissory Note. No promissory note shall be permitted if the
exercise of an Option using a promissory note would be a violation of any law. Any permitted promissory note shall be on such terms as the Board shall determine at the time the Option is granted.

  

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The Board shall have the authority to permit or require the Optionee to secure any promissory note used to exercise an Option with the shares of Stock acquired upon the exercise of the Option or
with other collateral acceptable to the Company. Unless otherwise provided by the Board, if the Company at any time is subject to the regulations promulgated by the Board of Governors of the Federal Reserve System or any other governmental entity
affecting the extension of credit in connection with the Company’s securities, any promissory note shall comply with such applicable regulations, and the Optionee shall pay the unpaid principal and accrued interest, if any, to the extent
necessary to comply with such applicable regulations. 
 6.4 Tax Withholding. The Company shall have
the right, but not the obligation, to deduct from the shares of Stock issuable upon the exercise of an Option, or to accept from the Optionee the tender of, a number of whole shares of Stock having a Fair Market Value, as determined by the Company,
equal to all or any part of the federal, state, local and foreign taxes, if any, required by law to be withheld by the Participating Company Group with respect to such Option or the shares acquired upon the exercise thereof. Alternatively or in
addition, in its discretion, the Company shall have the right to require the Optionee, through payroll withholding, cash payment or otherwise, including by means of a Cashless Exercise, to make adequate provision for any such tax withholding
obligations of the Participating Company Group arising in connection with the Option or the shares acquired upon the exercise thereof. The Fair Market Value of any shares of Stock withheld or tendered to satisfy any such tax withholding obligations
shall not exceed the amount determined by the applicable minimum statutory withholding rates. The Company shall have no obligation to deliver shares of Stock or to release shares of Stock from an escrow established pursuant to the Option Agreement
until the Participating Company Group’s tax withholding obligations have been satisfied by the Optionee. 
 6.5
Repurchase Rights. Shares issued under the Plan may be subject to a right of first refusal, one or more repurchase options, or other conditions and restrictions as determined by the Board in its discretion at the time the Option
is granted. The Company shall have the right to assign at any time any repurchase right it may have, whether or not such right is then exercisable, to one or more persons as may be selected by the Company. Upon request by the Company, each Optionee
shall execute any agreement evidencing such transfer restrictions prior to the receipt of shares of Stock hereunder and shall promptly present to the Company any and all certificates representing shares of Stock acquired hereunder for the placement
on such certificates of appropriate legends evidencing any such transfer restrictions. 
 6.6 Effect of Termination of
Service. 
 (a) Option Exercisability. Subject to earlier termination of the
Option as otherwise provided herein and unless otherwise provided by the Board in the grant of an Option and set forth in the Option Agreement, an Option shall be exercisable after an Optionee’s termination of Service only during the applicable
time period determined in accordance with this Section 6.6 and thereafter shall terminate: 
 (i) Disability. If the Optionee’s Service with the Participating Company Group terminates because of the Disability of the Optionee, the Option, to the extent unexercised and exercisable on the date on which the
Optionee’s Service terminated, may be exercised by the Optionee (or the Optionee’s guardian or legal representative) at any time prior to the expiration of twelve (12) months (or such other period of time as determined by the Board,
in its discretion) after the date on which the Optionee’s Service terminated, but in any event no later than the date of expiration of the Option’s term as set forth in the Option Agreement evidencing such Option (the
“Option Expiration Date”). 
 (ii) Death. If the
Optionee’s Service with the Participating Company Group terminates because of the death of the Optionee, the Option, to the extent unexercised and exercisable on the date on which the Optionee’s Service terminated, may be exercised by the
Optionee’s legal representative or other person who acquired the right to exercise the Option by reason of the Optionee’s death at any time prior to the expiration of twelve (12) months (or such other period of time as determined

  

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by the Board, in its discretion) after the date on which the Optionee’s Service terminated, but in any event no later than the Option Expiration Date. The Optionee’s Service shall be
deemed to have terminated on account of death if the Optionee dies within three (3) months (or such other period of time as determined by the Board, in its discretion) after the Optionee’s termination of Service (unless the termination was
for Cause). 
 (iii) Cause. If the Optionee’s Service with the Participating Company Group is
terminated for Cause, the Option shall terminate and cease to be exercisable immediately upon such termination of Service. 
 (iv) Other Termination of Service. If the Optionee’s Service with the Participating Company Group terminates for any reason, except Disability, death or Cause, the Option, to the extent
unexercised and exercisable by the Optionee on the date on which the Optionee’s Service terminated, may be exercised by the Optionee at any time prior to the expiration of three (3) months (or such other period of time as determined by the
Board, in its discretion) after the date on which the Optionee’s Service terminated, but in any event no later than the Option Expiration Date. 
 (b) Extension if Exercise Prevented by Law. Notwithstanding the foregoing, if the exercise of an Option within the applicable time periods set forth in
Section 6.6(a) is prevented by the provisions of Section 10 below, the Option shall remain exercisable until three (3) months (or such longer period of time as determined by the Board, in its discretion) after the date
the Optionee is notified by the Company that the Option is exercisable, but in any event no later than the Option Expiration Date. 
 (c) Extension if Optionee Subject to Section 16(b). Notwithstanding the foregoing, if a sale within the applicable time periods set forth in Section 6.6(a) of
shares acquired upon the exercise of the Option would subject the Optionee to suit under Section 16(b) of the Exchange Act, the Option shall remain exercisable until the earliest to occur of (i) the tenth (10th) day following the date
on which a sale of such shares by the Optionee would no longer be subject to such suit, (ii) the one hundred and ninetieth (190th) day after the Optionee’s termination of Service, or (iii) the Option Expiration Date. 

6.7 Transferability of Options. During the lifetime of the Optionee, an Option shall be exercisable only by the Optionee or
the Optionee’s guardian or legal representative. No Option shall be assignable or transferable by the Optionee, except by will or by the laws of descent and distribution. Notwithstanding the foregoing, to the extent permitted by the Board, in
its discretion, and set forth in the Option Agreement evidencing such Option, a Nonstatutory Stock Option shall be assignable or transferable subject to the applicable limitations, if any, described in Rule 701 under the Securities Act, and the
General Instructions to Form S-8 Registration Statement under the Securities Act. 
 7. Standard Forms of Option Agreement.

 7.1 Option Agreement. Unless otherwise provided by the Board at the time the Option is
granted, an Option shall comply with and be subject to the terms and conditions set forth in the form of Option Agreement approved by the Board concurrently with its adoption of the Plan and as amended from time to time. 
 7.2 Authority to Vary Terms. The Board shall have the authority from time to time to vary the terms of any
standard form of Option Agreement described in this Section 7 either in connection with the grant or amendment of an individual Option or in connection with the authorization of a new standard form or forms. 
  

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 8. Change in Control. 
 8.1 Definitions. 
 (a) An “Ownership Change Event” shall be deemed to have occurred if any of the following occurs with respect to the Company: (i) the direct or indirect
sale or exchange in a single or series of related transactions by the stockholders of the Company of more than fifty percent (50%) of the voting stock of the Company; (ii) a merger or consolidation in which the Company is a party;
(iii) the sale, exchange, or transfer of all or substantially all of the assets of the Company; or (iv) a liquidation or dissolution of the Company. 
 (b) A “Change in Control” shall mean an Ownership Change Event or a series of
related Ownership Change Events (collectively, a “Transaction”) wherein the stockholders of the Company immediately before the Transaction do not retain immediately after the Transaction, in substantially the
same proportions as their ownership of shares of the Company’s voting stock immediately before the Transaction, direct or indirect beneficial ownership of more than fifty percent (50%) of the total combined voting power of the outstanding
voting stock of the Company or the corporation or corporations to which the assets of the Company were transferred (the “Transferee Corporation(s)”), as the case may be. For purposes of the preceding sentence,
indirect beneficial ownership shall include, without limitation, an interest resulting from ownership of the voting stock of one or more corporations which, as a result of the Transaction, own the Company or the Transferee Corporation(s), as the
case may be, either directly or through one or more subsidiary corporations. The Board shall have the right to determine whether multiple sales or exchanges of the voting stock of the Company or multiple Ownership Change Events are related, and its
determination shall be final, binding and conclusive. 
 8.2 Effect of Change in Control on Options.
In the event of a Change in Control, the surviving, continuing, successor, or purchasing corporation or parent corporation thereof, as the case may be (the “Acquiring Corporation”), may either assume the
Company’s rights and obligations under outstanding Options or substitute for outstanding Options substantially equivalent options for the Acquiring Corporation’s stock. In the event the Acquiring Corporation elects not to assume or
substitute for outstanding Options in connection with a Change in Control, the exercisability and vesting of each outstanding Option shall accelerate in full and shall become fully vested and exercisable as of the date ten (10) days prior to
the date of the Change in Control, provided that the Optionee’s Service has not terminated prior to such date. The exercise or vesting of any Option and the acquisition of any shares upon the exercise thereof that was permissible solely by
reason of this Section 8.2 shall be conditioned upon the consummation of the Change in Control. Any Options which are neither assumed or substituted for by the Acquiring Corporation in connection with the Change in Control nor exercised
as of the date of the Change in Control shall terminate and cease to be outstanding effective as of the date of the Change in Control. Notwithstanding the foregoing, shares acquired upon exercise of an Option prior to the Change in Control and any
consideration received pursuant to the Change in Control with respect to such shares shall continue to be subject to all applicable provisions of the Option Agreement evidencing such Option except as otherwise provided in such Option Agreement.

 9. Provision of Information. Each Optionee shall be given access to information concerning the Company equivalent to
that information generally made available to the Company’s common stockholders. 
 10. Compliance with Securities Law.
The grant of Options and the issuance of shares of Stock upon exercise of Options shall be subject to compliance with all applicable requirements of federal, state and foreign law with respect to such securities. Options may not be exercised if
the issuance of shares of Stock upon exercise would constitute a violation of any applicable federal, state or foreign securities laws or other law or regulations or the requirements of any stock exchange or market system upon which the

  

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Stock may then be listed. In addition, no Option may be exercised unless (a) a registration statement under the Securities Act shall at the time of exercise of the Option be in effect with
respect to the shares issuable upon exercise of the Option or (b) in the opinion of legal counsel to the Company, the shares issuable upon exercise of the Option may be issued in accordance with the terms of an applicable exemption from the
registration requirements of the Securities Act. The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary to the lawful issuance and sale of
any shares hereunder shall relieve the Company of any liability in respect of the failure to issue or sell such shares as to which such requisite authority shall not have been obtained. As a condition to the exercise of any Option, the Company may
require the Optionee to satisfy any qualifications that may be necessary or appropriate, to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect thereto as may be requested by the Company.

 11. Termination or Amendment of Plan. The Board may terminate or amend the Plan at any time. However, subject to changes
in applicable law, regulations or rules that would permit otherwise, without the approval of the Company’s stockholders, there shall be (a) no increase in the maximum aggregate number of shares of Stock that may be issued under the Plan
(except by operation of the provisions of Section 4.2), (b) no change in the class of persons eligible to receive Incentive Stock Options, and (c) no other amendment of the Plan that would require approval of the Company’s
stockholders under any applicable law, regulation or rule. No termination or amendment of the Plan shall affect any then outstanding Option unless expressly provided by the Board. In any event, no termination or amendment of the Plan may adversely
affect any then outstanding Option without the consent of the Optionee, unless such termination or amendment is required to enable an Option designated as an Incentive Stock Option to qualify as an Incentive Stock Option or is necessary to comply
with any applicable law, regulation or rule. 
 12. Stockholder Approval. The Plan or any increase in the maximum aggregate
number of shares of Stock issuable thereunder as provided in Section 4.1 (the “Authorized Shares”) shall be approved by the stockholders of the Company within twelve (12) months of the date of
adoption thereof by the Board. Options granted prior to stockholder approval of the Plan or in excess of the Authorized Shares previously approved by the stockholders shall become exercisable no earlier than the date of stockholder approval of the
Plan or such increase in the Authorized Shares, as the case may be. 
  

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