Document:

EX-10.3

 Exhibit 10.3 

SUPPORT AGREEMENT 

This SUPPORT AGREEMENT is made as of September 5, 2022 (this “Agreement”) by and between ADT Inc., a Delaware
corporation (the “Company”), and Google LLC, a Delaware limited liability company (the “Stockholder”). 

WHEREAS, on July 31, 2020, the Company entered into that certain Securities Purchase Agreement with the Stockholder pursuant to
which the Company issued and sold to the Stockholder 54,744,525 shares of Class B common stock, par value $0.01 per share, of the Company (“Class B Common Stock” and, any shares of Class B Common Stock
beneficially owned by the Stockholder, together with the shares of common stock, par value $0.01 per share, of the Company (“Common Stock”), issuable upon the conversion of such shares of Class B Common Stock, the
“Subject Shares”); 
 WHEREAS, contemporaneously with the execution of this Agreement, the Company and State Farm
Fire & Casualty Company, an Illinois stock insurance company (the “Investor”), are entering into that certain Securities Purchase Agreement dated as of the date hereof (as it may be amended from time to time, the
“Purchase Agreement”), which provides, among other things, (a) for the Company to issue, sell and deliver to the Investor, and the Investor to purchase and acquire from the Company, 133,333,333 shares of Common Stock (the
“Issued Shares”) at a price of $9.00 per share (the “Purchase Price”) and (b) for the Company to commence a cash tender offer on the terms and conditions to be set forth in the Offer to Purchase (the
“Offer”) to acquire up to a number of shares equal to the number of Issued Shares at a price per share equal to the Purchase Price; 

WHEREAS, as a condition and material inducement to the willingness of the Company to enter into the Purchase Agreement, the Stockholder
(solely in the Stockholder’s capacity as the holder of the Subject Shares), has agreed to enter into this Agreement; and 

WHEREAS, capitalized terms in this Agreement and not defined have the meanings given to such terms in the Purchase Agreement. 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements set forth herein, and intending to be legally
bound hereby, the parties hereby agree as follows: 
 SECTION 1. Agreement Not to Tender. The Stockholder agrees that it shall not,
without the prior written consent of the Company, directly or indirectly, tender the Subject Shares into the Offer, in any manner, or enter into any agreement, arrangement or understanding that results in the Subject Shares being tendered into the
Offer. In furtherance of this Agreement, concurrently herewith, the Stockholder shall, and hereby does authorize the Company or its counsel to, notify the Company’s transfer agent that there is a stop transfer order with respect to any Subject
Shares attempted to be tendered into the Offer. 
 SECTION 2. Further Assurances. Each party shall execute and deliver any additional
documents and take such further actions as may be reasonably necessary to carry out all of the provisions hereof, including all of the parties’ obligations under this Agreement. 

 SECTION 3. Termination. 

(a) This Agreement shall terminate automatically as of the earliest to occur of: (i) the termination of the Purchase Agreement in
accordance with its terms; (ii) the consummation of the Offer; and (iii) the mutual written consent of the parties hereto. 
 (b)
Upon termination of this Agreement, no party shall have any further obligations or liabilities under this Agreement; provided, however, that (i) nothing set forth in this Section 3 shall relieve any party
from liability for willful and material breach of this Agreement prior to termination hereof and (ii) Section 3, Section 4 and Section 6 hereof shall survive the
termination of this Agreement. 
 SECTION 4. Expenses. All fees and expenses incurred in connection this Agreement and the
transactions contemplated hereby shall be paid by the party incurring such fees or expenses. 
 SECTION 5. Public Disclosure. The
Stockholder hereby: (a) consents to and authorizes the publication and disclosure by the Company (including in the Schedule TO, the Schedule 14D-9 or any other publicly filed documents relating to the
Offer or any other transaction contemplated by the Purchase Agreement) of (i) the Stockholder’s identity, (ii) the Stockholder’s ownership of the Subject Shares, (iii) the nature of the Stockholder’s commitments,
arrangements and understandings under this Agreement, including with respect to the Stockholder’s commitment not to tender the Subject Shares in the Offer (including filing this Agreement as an exhibit to any publicly filed documents relating
to the Offer or any other transaction contemplated by the Purchase Agreement), (iv) information relating to the Stockholder in any previously publicly filed documents of the Company that is incorporated by reference into any SEC disclosure document
relating to the Offer or any other transaction contemplated by the Purchase Agreement, (v) the disclosures set forth on Exhibit A and (vi) with the prior written consent of the Stockholder (such consent not to be unreasonably
withheld, delayed or conditioned), any further information relating to the Stockholder that the Company determines to be necessary in any SEC disclosure document relating to the Offer (provided that such consent shall not be required for
information that is materially consistent with the information consented to pursuant to clauses (i) through (v)); and (b) agrees as promptly as practicable to notify the Company of any required corrections with respect to any written
information supplied by the Stockholder specifically for use in any such disclosure document. 
 SECTION 6. Miscellaneous. 

(a) Amendments; Waivers. Subject to compliance with applicable Law, this Agreement may not be amended or supplemented in any and all
respects without the written consent of the parties hereto. 
 (b) Extension of Time, Waiver, Etc. The parties hereto may, subject to
applicable Law, (a) extend the time for the performance of any of the obligations or acts of the other party or (b) waive compliance by the other party with any of the agreements contained herein applicable to such party. Notwithstanding
the foregoing, no failure or delay by the Company or the Stockholder in exercising any right hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise
of any other right hereunder. Any agreement on the part of a party hereto to any such extension or waiver shall be valid only if set forth in an instrument in writing signed on behalf of such party. 

  
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 (c) Assignment. Neither this Agreement nor any of the rights, interests or
obligations hereunder shall be assigned, in whole or in part, by operation of Law or otherwise, by any of the parties hereto without the prior written consent of the other party hereto. 

(d) Counterparts. This Agreement may be executed in one or more counterparts (including by electronic mail), each of which shall be
deemed to be an original but all of which taken together shall constitute one and the same agreement, and shall become effective when one or more counterparts have been signed by each of the parties hereto (including by electronic signature) and
delivered to the other parties hereto (including electronically, e.g., in PDF format). 
 (e) Entire Agreement; Third-Party
Beneficiaries. This Agreement constitutes the entire agreement, and supersedes all other prior agreements and understandings, both written and oral, among the parties and their Affiliates, or any of them, with respect to the subject matter
hereof. No provision of this Agreement shall confer upon any Person other than the parties hereto and their permitted assigns any rights or remedies hereunder; provided that Section 6(l) shall be for the benefit of,
and enforceable by, each of the Related Parties. 
 (f) Governing Law; Jurisdiction. 

(i) This Agreement and all matters, claims or Actions (whether at law, in equity, in Contract, in tort or otherwise) based upon, arising out
of or relating to this Agreement, execution or performance of this Agreement, shall be governed by, and construed in accordance with, the laws of the State of Delaware applicable to contracts executed in and to be performed entirely within that
State, regardless of the laws that might otherwise govern under any applicable conflict of Laws principles. 
 (ii) All Actions arising out
of or relating to this Agreement shall be heard and determined in the Chancery Court of the State of Delaware (or, if the Chancery Court of the State of Delaware declines to accept jurisdiction over any Action, any state or federal court within the
State of Delaware) and the parties hereto hereby irrevocably submit to the exclusive jurisdiction and venue of such courts in any such Action and irrevocably waive the defense of an inconvenient forum or lack of jurisdiction to the maintenance of
any such Action. The consents to jurisdiction and venue set forth in this Section 6(f) shall not constitute general consents to service of process in the State of Delaware and shall have no effect for any purpose except as
provided in this paragraph and shall not be deemed to confer rights on any Person other than the parties hereto. Each party hereto agrees that service of process upon such party in any Action arising out of or relating to this Agreement shall be
effective if notice is given by overnight courier at the address set forth in Section 6(i). The parties hereto agree that a final judgment in any such Action shall be conclusive and may be enforced in other jurisdictions by
suit on the judgment or in any other manner provided by applicable Law; provided, however, that nothing in the foregoing shall restrict any party’s rights to seek any post-judgment relief regarding, or any appeal from, a final
trial court judgment. 

  
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 (g) Specific Enforcement. The parties hereto agree that irreparable damage for which
monetary relief, even if available, would not be an adequate remedy, would occur in the event that any provision of this Agreement is not performed in accordance with its specific terms or is otherwise breached, including if the parties hereto fail
to take any action required of them hereunder to consummate the transactions contemplated by this Agreement, and that time is of the essence. The parties acknowledge and agree that (a) the parties shall be entitled to an injunction or
injunctions, specific performance or other equitable relief to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof (in the courts described in Section 6(f) without proof of damages
or otherwise, this being in addition to any other remedy to which they are entitled under this Agreement) and (b) the right of specific enforcement is an integral part of the transactions contemplated by this Agreement and without that right,
the parties hereto would not have entered into this Agreement. The parties hereto agree not to assert that a remedy of specific enforcement is unenforceable, invalid, contrary to Law or inequitable for any reason, and agree not to assert that a
remedy of monetary damages would provide an adequate remedy or that the parties otherwise have an adequate remedy at law. The parties hereto acknowledge and agree that any party seeking an injunction or injunctions to prevent breaches of this
Agreement and to enforce specifically the terms and provisions of this Agreement in accordance with this Section 6(g) shall not be required to provide any bond or other security in connection with any such order or
injunction. 
 (h) WAIVER OF JURY TRIAL. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT
IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY
OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT AND ANY OF THE AGREEMENTS DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR
ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVER,
(C) IT MAKES SUCH WAIVER VOLUNTARILY AND (D) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION 6(h). 

(i) Notices. All notices, requests and other communications to any party hereunder shall be in writing and shall be deemed given if
delivered personally, emailed (which is confirmed) or sent by overnight courier (providing proof of delivery) to the parties at the following addresses: 

  
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	 	(a)	 If to the Company, to: 

ADT Inc. 
 1501 Yamato Road 

Boca Raton, Florida 33431 

Attention: Chief Legal Officer 

Email: DSmail@adt.com 
 with a
copy (which shall not constitute notice) to: 
 Cravath, Swaine & Moore LLP 

Worldwide Plaza 
 825 Eighth
Avenue 
 New York, New York 10019 

Attention: Robert I. Townsend, III 

O. Keith Hallam, III 
 Sanjay
Murti 
 Email: RTownsend@cravath.com 

KHallam@cravath.com 

SMurti@cravath.com 
  

	 	(b)	 If to the Stockholder, to: 

Google LLC 
 1600 Amphitheatre
Parkway 
 Mountain View, CA 94043 

Attention: Tim Harrington 

Email: investments-notice@google.com 

with a copy (which shall not constitute notice) to: 

Wilson Sonsini Goodrich & Rosati P.C. 

701 Fifth Avenue, Suite 5100 

Seattle, WA 98104 
 Attention:
Michael Nordtvedt 
 Email: mnordtvedt@wsgr.com 

or such other address or email address as such party may hereafter specify by like notice to the other parties hereto. All such notices, requests and other
communications shall be deemed received on the date of actual receipt by the recipient thereof if received prior to 5:00 p.m. local time in the place of receipt and such day is a Business Day in the place of receipt. Otherwise, any such notice,
request or communication shall be deemed not to have been received until the next succeeding Business Day in the place of receipt. 
 (j)
Severability. If any term, condition or other provision of this Agreement is determined by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced by any rule of Law or public policy, all other terms,
provisions and conditions of this Agreement shall nevertheless remain in full force and effect. Upon such determination that any term, condition or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall
negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible to the fullest extent permitted by applicable Law. 

  
 5 

 (k) Interpretation. 

(i) When a reference is made in this Agreement to an Article or a Section, such reference shall be to an Article or a Section of this
Agreement unless otherwise indicated. The table of contents and headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Whenever the words
“include”, “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”. The words “hereof”, “herein” and
“hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The words “date hereof” when used in this Agreement shall refer
to the date of this Agreement. The terms “or”, “any” and “either” are not exclusive. The word “extent” in the phrase “to the extent” shall mean the degree to which a subject or other thing extends,
and such phrase shall not mean simply “if”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. The definitions contained in this Agreement are applicable to the singular as well
as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such term. Any agreement, instrument or statute defined or referred to herein or in any agreement or instrument that is referred to herein means
such agreement, instrument or statute as from time to time amended, modified or supplemented, including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession of comparable successor statutes and
references to all attachments thereto and instruments incorporated therein. Unless otherwise specifically indicated, all references to “dollars” or “$” shall refer to the lawful money of the United States. References to a Person
are also to its permitted assigns and successors. When calculating the period of time between which, within which or following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating
such period shall be excluded (and unless if otherwise required by Law, if the last day of such period is not a Business Day, the period in question shall end on the next succeeding Business Day). 

(ii) The parties hereto have participated jointly in the negotiation and drafting of this Agreement and, in the event an ambiguity or question
of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party hereto by virtue of the authorship of any provision of
this Agreement. 
 (l) Non-Recourse. Each party hereto agrees, on behalf of itself and its
Affiliates, that all Actions, claims, obligations, liabilities or causes of action (whether in Contract or in tort, in Law or in equity or otherwise, or granted by statute or otherwise, whether by or through attempted piercing of the corporate,
limited partnership or limited liability company veil or any other theory or doctrine, including alter ego or otherwise) that may be based upon, in respect of, arise under, out of or by reason of, be connected with, or relate in any manner to:
(i) this Agreement or the transactions contemplated hereby, (ii) the negotiation, execution or performance of this Agreement or any other agreement referenced herein (including any representation or warranty made in, in connection with, or
as an inducement to, this Agreement or such other agreement), (iii) any breach or violation of this Agreement or any other agreement referenced 

  
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herein, and (iv) any failure of the transactions contemplated hereby or under any other agreement referenced herein to be consummated, in each case, may be made only against (and are those
solely of) the Persons that are expressly identified as parties to this Agreement or, in the case of the other agreements referenced herein, the persons that are expressly named as parties thereof, and, in accordance with, and subject to the terms
and conditions of, this Agreement or such other agreement referenced herein, as applicable. In furtherance and not in limitation of the foregoing, each party hereto covenants, agrees and acknowledges, on behalf of itself and its respective
Affiliates, that no recourse under this Agreement or in connection with any of the transactions contemplated hereby shall be sought or had against any other Person, and no other Person shall have any liabilities or obligations (whether in Contract
or in tort, in Law or in equity or otherwise, or granted by statute or otherwise, whether by or through attempted piercing of the corporate, limited partnership or limited liability company veil or any other theory or doctrine, including alter ego
or otherwise) for any claims, causes of action, obligations or liabilities arising under, out of, in connection with or related in any manner to the items in clauses (i) through (iv) of the immediately preceding sentence, it being expressly
agreed and acknowledged that no personal liability or losses whatsoever shall attach to, be imposed on or otherwise be incurred by any of the aforementioned, as such, arising under, out of, in connection with or related in any manner to the items in
clauses (i) through (iv) of the immediately preceding sentence. Notwithstanding anything to the contrary herein or otherwise, except as contemplated in the proviso of the first sentence of this Section 6(l), with
respect to each party hereto, no past, present or future director, manager, officer, employee, incorporator, member, partner, shareholder, agent, attorney, advisor, lender or Representative or Affiliate of such named party (the “Related
Parties”) shall be responsible or liable for any multiple, consequential, indirect, special, statutory, exemplary or punitive damages which may be alleged as a result of this Agreement or the transactions contemplated hereby, or the valid
termination or abandonment of any of the foregoing. 
 [REMAINDER OF PAGE LEFT BLANK INTENTIONALLY] 

  
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 IN WITNESS WHEREOF, the Company and the Stockholder have caused this Agreement to be duly
executed and delivered as of the date first written above. 
  

			
	COMPANY
	
	ADT INC.
		
	By:	 	 /s/ James D. DeVries

		 	Name: James D. DeVries
		 	Title:   President and Chief Executive Officer
	
	STOCKHOLDER
	
	GOOGLE LLC
		
	By:	 	 /s/ Tim Reusing

		 	Name: Tim Reusing
		 	Title:   Director, Legal/Authorized Signatory

  
 Signature Page to
Support Agreement 

 EXHIBIT A 

 

	1.	 The Offer will be fully subscribed as a result of the Apollo Stockholder Commitment (as defined herein), and no
shares of Class B Common Stock will be tendered or purchased in the Offer as a result of the Google Commitment (as defined herein). 

  

	2.	 There is no established public trading market for shares of Class B Common Stock, and Google (as defined
herein) is the only stockholder of record of such Shares. 

  

	3.	 Furthermore, in connection with the Strategic Investment, the Company also entered into the Google Support
Agreement with Google (each, as defined herein), pursuant to which Google has agreed to not, without the prior written consent of the Company, directly or indirectly, tender its shares of Class B Common Stock (and any shares of Common Stock
issuable upon the conversion of such shares of Class B Common Stock) (collectively, the “Google Shares”) in the Offer, in any manner, or enter into any agreement, arrangement or understanding that results in the Google Shares
being tendered in the Offer (the “Google Commitment”). [...] Separately, pursuant to the Google Commercial Agreement Amendment (as defined herein) Google has agreed to commit an additional $150 million in further success funds
in connection with its existing partnership with the Company, which will be funded in three equal tranches and be subject to the attainment of certain milestones, to expand access for more customers to smart home innovation and technologies via new
sales programs, and other related activities. 

  

	4.	 In addition, concurrently with the execution of the Securities Purchase Agreement, Google LLC
(“Google”) delivered to the Company a Support Agreement (the “Google Support Agreement”) relating to the Google Commitment, under which Google has agreed to not, without the prior written consent of the Company,
directly or indirectly, tender the Google Shares in the Offer, in any manner, or enter into any agreement, arrangement or understanding that results in the Google Shares being tendered in the Offer. 

 

	5.	 Separately, on August 31, 2022, ADT LLC and Google entered into an amendment (the “Google
Commercial Agreement Amendment”) to the Commercial Agreement (as defined herein) pursuant to which Google has agreed to commit an additional $150 million in further success funds in connection with its existing partnership with the
Company, which will be funded in three equal tranches and be subject to the attainment of certain milestones, to expand access for more customers to smart home innovation and technologies via new sales programs, and other related activities.

  

	6.	 The Company cautions that these statements are subject to risks and uncertainties, many of which are outside of
the Company’s control, and could cause future events or results to be materially different from those stated or implied in this document, including among others, factors relating to: [...] our ability to successfully utilize the incremental
funding received from Google; 

  

	7.	 During September 2020, we sold and issued 55 million shares of Class B Common Stock to Google for
$450 million. 

  

	8.	 Google Investor Rights Agreement  

 During September 2020, we issued and sold 54,744,525 shares of Class B Common Stock for
an aggregate purchase price of $450 million to Google in a private placement (the “Google Private Placement”) pursuant to a securities purchase agreement dated July 31, 2020 (the “Google Securities Purchase
Agreement”). As of the date of closing of such transaction, Google held approximately 6.6% of the issued and outstanding shares of our Common Stock on an as-converted basis. Google is the only
stockholder of record of shares of our Class B Common Stock. 
 In connection with the Google Private Placement, the Company and Google
entered into an Investor Rights Agreement (as amended from time to time, the “Google Investor Rights Agreement”). Pursuant to the Google Investor Rights Agreement, Google agreed to be bound by customary transfer restrictions and
drag-along rights, and be afforded customary registration rights with respect to shares of Class B Common Stock held directly by Google. Under the terms of the Google Investor Rights Agreement, Google is prohibited, subject to certain
exceptions, from transferring any shares of Class B Common Stock or any shares of Common Stock issuable upon conversion of the Class B Common Stock beneficially owned by Google until the earlier of (i) the three-year anniversary of
issuance, (ii) the date on which the Master Supply, Distribution and Marketing Agreement entered into between the Company and Google (the “Commercial Agreement”) has been terminated under certain specified circumstances, and
(iii) September 30, 2022 if the Company breaches certain of its obligations under the Commercial Agreement. On August 31, 2022, ADT LLC and Google entered into the Google Commercial Agreement Amendment pursuant to which Google has
agreed to commit an additional $150 million in further success funds in connection with its existing partnership with the Company, which will be funded in three equal tranches and be subject to the attainment of certain milestones, to expand
access for more customers to smart home innovation and technologies via new sales programs, and other related activities.Exhibit 10.4.1

 

BOUSTEAD WAVEFRONT INC.

AMENDED AND RESTATED

2022 OMNIBUS EQUITY INCENTIVE PLAN

(as Amended and Restated as of __________, 2022)

 

ARTICLE I

PURPOSE

 

The purpose of this Amended and
Restated Boustead Wavefront Inc. 2022 Omnibus Equity Incentive Plan (the “Plan”) is to benefit Boustead Wavefront Inc.,
a Cayman Islands exempted company (the “Company”) and its shareholders, by assisting the Company and its subsidiaries
to attract, retain and provide incentives to key management employees, directors, and consultants of the Company and its Affiliates, and
to align the interests of such service providers with those of the Company’s shareholders. Accordingly, the Plan provides for the
granting of Non-qualified Stock Options, Incentive Stock Options, Restricted Stock Awards, Restricted Stock Unit Awards, Stock Appreciation
Rights, Performance Stock Awards, Performance Unit Awards, Unrestricted Stock Awards, Distribution Equivalent Rights or any combination
of the foregoing. The Plan is hereby amended and restated in its entirety.

 

ARTICLE II

DEFINITIONS

 

The following definitions shall
be applicable throughout the Plan unless the context otherwise requires:

 

2.1 “Affiliate”
shall mean (i) any person or entity that directly or indirectly controls, is controlled by or is under common control with the Company
and/or (ii) to the extent provided by the Committee, any person or entity in which the Company has a significant interest. The term “control”
(including, with correlative meaning, the terms “controlled by” and “under common control with”), as applied to
any person or entity, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and
policies of such person or entity, whether through the ownership of voting or other securities, by contract or otherwise.

 

2.2 “Award”
shall mean, individually or collectively, any Option, Restricted Stock Award, Restricted Stock Unit Award, Performance Stock Award, Performance
Unit Award, Stock Appreciation Right, Distribution Equivalent Right or Unrestricted Stock Award.

 

2.3 “Award
Agreement” shall mean a written agreement between the Company and the Holder with respect to an Award, setting forth the terms
and conditions of the Award, as amended.

 

 2.4 “Board” shall mean the Board of Directors of the Company.

 

2.5 “Base Value”
shall have the meaning given to such term in Section 14.2.

 

     

     

    

 

2.6 “Cause”
shall mean (i) for a Holder who is a party to an employment or service agreement with the Company or an Affiliate which agreement defines
“Cause” (or a similar term), “Cause” shall have the same meaning as provided for in such agreement, or
(ii) for a Holder who is not a party to such an agreement, “Cause” shall mean termination by the Company or an Affiliate
of the employment (or other service relationship) of the Holder by reason of the Holder’s (A) intentional failure to perform reasonably
assigned duties, (B) dishonesty or willful misconduct in the performance of the Holder’s duties, (C) involvement in a transaction
which is materially adverse to the Company or an Affiliate, (D) breach of fiduciary duty involving personal profit, (E) willful violation
of any law, rule, regulation or court order (other than misdemeanor traffic violations and misdemeanors not involving misuse or misappropriation
of money or property), (F) commission of an act of fraud or intentional misappropriation or conversion of any asset or opportunity of
the Company or an Affiliate, or (G) material breach of any provision of the Plan or the Holder’s Award Agreement or any other written
agreement between the Holder and the Company or an Affiliate, in each case as determined in good faith by the Board, the determination
of which shall be final, conclusive and binding on all parties.

 

2.7 “Change
of Control” shall mean, except as otherwise provided in an Award Agreement, (i) for a Holder
who is a party to an employment or consulting agreement with the Company or an Affiliate which agreement defines “Change of Control”
(or a similar term), “Change of Control” shall have the same meaning as provided for in such agreement, or (ii) for
a Holder who is not a party to such an agreement, “Change of Control” shall mean the satisfaction of any one or more
of the following conditions (and the “Change of Control” shall be deemed to have occurred as of the first day that any one
or more of the following conditions shall have been satisfied):

 

(a) Any
person (as such term is used in paragraphs 13(d) and 14(d)(2) of the Exchange Act, hereinafter in this definition, “Person”),
other than the Company or an Affiliate or an employee benefit plan of the Company or an Affiliate, becomes the beneficial owner (as defined
in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing more than fifty percent (50%)
of the combined voting power of the Company’s then outstanding securities;

 

(b) The
closing of a merger, consolidation or other business combination (a “Business Combination”) other than a Business
Combination in which holders of the Shares immediately prior to the Business Combination have substantially the same proportionate
ownership of the common stock or ordinary shares, as applicable, of the surviving corporation immediately after the Business
Combination as immediately before;

 

(c) The
closing of an agreement for the sale or disposition of all or substantially all of the Company’s assets to any entity that is not
an Affiliate;

 

(d) The
approval by the holders of shares of Shares of a plan of complete liquidation of the Company, other than a merger of the Company
into any subsidiary or a liquidation as a result of which persons who were shareholders of the Company immediately prior to such
liquidation have substantially the same proportionate ownership of shares of common stock or ordinary shares, as applicable, of the
surviving corporation immediately after such liquidation as immediately before; or

 

    2

     

    

 

(e) Within
any twenty-four (24) month period, the Incumbent Directors shall cease to constitute at least a majority of the Board or the board of
directors of any successor to the Company; provided, however, that any director elected to the Board, or nominated for election,
by a majority of the Incumbent Directors then still in office, shall be deemed to be an Incumbent Director for purposes of this paragraph
(e), but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of either an actual or
threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies
or consents by or on behalf of an individual, entity or “group” other than the Board (including, but not limited to, any such
assumption that results from paragraphs (a), (b), (c), or (d) of this definition).

 

Notwithstanding the foregoing, solely
for the purpose of determining the timing of any payments pursuant to any Award constituting a “deferral of compensation”
subject to Code Section 409A, a Change of Control shall be limited to a “change in the ownership of the Company,” a “change
in the effective control of the Company,” or a “change in the ownership of a substantial portion of the assets of the Company”
as such terms are defined in Section 1.409A-3(i)(5) of the U.S. Treasury Regulations.

 

2.8 “Code”
shall mean the Internal Revenue Code of 1986, as amended, and any successor thereto. Reference in the Plan to any section of the Code
shall be deemed to include any regulations or other interpretative guidance under such section, and any amendments or successor provisions
to such section, regulations or guidance.

 

2.9 “Committee”
shall mean a committee comprised of two (2) or more members of the Board who are selected by the Board as provided in Section 4.1, and
may be the Compensation Committee of the Board of Directors.

 

2.10 “Company”
shall have the meaning given to such term in the introductory paragraph, including any successor thereto.

 

2.11 “Consultant”
shall mean any person, including an advisor, who is (i) engaged by the Company or an Affiliate to render consulting or advisory
services and is compensated for such services, or (ii) serving as a member of the board of directors of an Affiliate and is
compensated for such services. However, service solely as a Director, or payment of a fee for such service, will not cause a
Director to be considered a “Consultant” for purposes of the Plan. Notwithstanding the foregoing, a person is treated as
a Consultant under this Plan only if a Form S-8 Registration Statement under the Securities Act is available to register either the
offer or the sale of the Company’s securities to such person.

 

2.12 “Director”
shall mean a member of the Board or a member of the board of directors of an Affiliate, in either case, who is not an Employee.

 

    3

     

    

 

2.13 “Distribution
Equivalent Right” shall mean an Award granted under Article XIII of the Plan which entitles the Holder to receive bookkeeping
credits, cash payments and/or Share distributions equal in amount to the distributions that would have been made to the Holder had the
Holder held a specified number of Shares during the period the Holder held the Distribution Equivalent Right.

 

2.14 “Distribution
Equivalent Right Award Agreement” shall mean a written agreement between the Company and a Holder with respect to a Distribution
Equivalent Right Award.

 

 2.15 “Effective Date” shall mean May , 2022.

 

2.16 “Employee”
shall mean any employee, including any officer, of the Company or an Affiliate.

 

2.17 “Exchange
Act” shall mean the United States of America Securities Exchange Act of 1934, as amended.

 

2.18 “Fair
Market Value” shall mean, as of any date, the value of a share of Stock determined as follows:

 

(a) If
the Stock is listed on any established stock exchange or a national market system, the per share closing sales price for Shares (or the
closing bid, if no sales were reported) as quoted on such exchange or system on the day of determination, as reported in The Wall Street
Journal or such other source as the Committee deems reliable;

 

(b) If
the Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a share
of Stock will be the mean between the high bid and low asked per share prices for the Stock on the day of determination, as reported in
The Wall Street Journal or such other source as the Committee deems reliable; or

 

(c) In
the absence of an established market for the Stock, the Fair Market Value will be determined in good faith by the Committee (acting on
the advice of an Independent Third Party, should the Committee elect in its sole discretion to utilize an Independent Third Party for
this purpose).

 

(d) Notwithstanding
the foregoing, the determination of Fair Market Value in all cases shall be in accordance with the requirements set forth under Section
409A of the Code to the extent necessary for an Award to comply with, or be exempt from, Section 409A of the Code.

 

2.19 “Family
Member” of an individual shall mean any child, stepchild, grandchild, parent, stepparent, spouse, former spouse, sibling,
niece, nephew, mother-in- law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law, including adoptive
relationships, any person sharing the Holder’s household (other than a tenant or employee of the Holder), a trust in which
such persons have more than fifty percent (50%) of the beneficial interest, a foundation in which such persons (or the Holder)
control the management of assets, and any other entity in which such persons (or the Holder) own more than fifty percent (50%) of
the voting interests.

 

    4

     

    

 

2.20 “Holder”
shall mean an Employee, Director or Consultant who has been granted an Award or any such individual’s beneficiary, estate or representative,
who has acquired such Award in accordance with the terms of the Plan, as applicable.

 

2.21 “Incentive
Stock Option” shall mean an Option which is designated by the Committee as an “incentive stock option” and conforms
to the applicable provisions of Section 422 of the Code.

 

2.22 “Incumbent
Director” shall mean, with respect to any period of time specified under the Plan for purposes of determining whether or not
a Change of Control has occurred, the individuals who were members of the Board at the beginning of such period, but does not include
any directors meeting the definition of “independent” or “disinterested” under the rules of the U.S. Securities
and Exchange Commission and/or Nasdaq.

 

2.23 “Independent
Third Party” means an individual or entity independent of the Company having experience in providing investment banking or similar
appraisal or valuation services and with expertise generally in the valuation of securities or other property for purposes of this Plan.
The Committee may utilize one or more Independent Third Parties.

 

2.24 “Non-qualified
Stock Option” shall mean an Option which is not designated by the Committee as an Incentive Stock Option.

 

2.25 “Option”
shall mean an Award granted under Article VII of the Plan of an option to purchase Shares and shall include both Incentive Stock Options
and Non- qualified Stock Options.

 

2.26 “Option
Agreement” shall mean a written agreement between the Company and a Holder with respect to an Option.

 

2.27 “Performance
Criteria” shall mean the criteria selected by the Committee for purposes of establishing the Performance Goal(s) for a Holder
for a Performance Period.

 

2.28 “Performance
Goals” shall mean, for a Performance Period, the written goal or goals established by the Committee for the Performance Period
based upon the Performance Criteria, which may be related to the performance of the Holder, the Company or an Affiliate.

 

2.29 “Performance
Period” shall mean one or more periods of time, which may be of varying and overlapping durations, selected by the Committee,
over which the attainment of the Performance Goals shall be measured for purposes of determining a Holder’s right to, and the payment
of, a Performance Stock Award or a Performance Unit Award.

 

    5

     

    

 

2.30 “Performance
Stock Award” or “Performance Stock” shall mean an Award granted under Article XII of the Plan under which,
upon the satisfaction of predetermined Performance Goals, Shares are paid to the Holder.

 

2.31 “Performance
Stock Agreement” shall mean a written agreement between the Company and a Holder with respect to a Performance Stock Award.

 

2.32 “Performance
Unit Award” or “Performance Unit” shall mean an Award granted under Article XI of the Plan under which, upon
the satisfaction of predetermined Performance Goals, a cash payment shall be made to the Holder, based on the number of Units awarded
to the Holder.

 

2.33 “Performance
Unit Agreement” shall mean a written agreement between the Company and a Holder with respect to a Performance Unit Award.

 

2.34 “Plan”
shall mean this Boustead Wavefront Inc. 2022 Omnibus Equity Incentive Plan, as amended from time to time, together with each of the Award
Agreements utilized hereunder.

 

2.35 “Restricted
Stock Award” and “Restricted Stock” shall mean an Award granted under Article VIII, the transferability of
which by the Holder is subject to Restrictions.

 

2.36 “Restricted
Stock Agreement” shall mean a written agreement between the Company and a Holder with respect to a Restricted Stock Award.

 

2.37 “Restricted
Stock Unit Award” and “RSUs” shall refer to an Award granted under Article X of the Plan under which, upon
the satisfaction of predetermined individual service-related vesting requirements, a payment in cash or Shares shall be made to the Holder,
based on the number of Units awarded to the Holder.

 

2.38 “Restricted
Stock Unit Agreement” shall mean a written agreement between the Company and a Holder with respect to a Restricted Stock Award.

 

2.39 “Restriction
Period” shall mean the period of time for which Shares subject to a Restricted Stock Award shall be subject to Restrictions,
as set forth in the applicable Restricted Stock Agreement.

 

2.40 “Restrictions”
shall mean the forfeiture, transfer and/or other restrictions applicable to Shares awarded to an Employee, Director or Consultant under
the Plan pursuant to a Restricted Stock Award and set forth in a Restricted Stock Agreement.

 

2.41 “Rule
16b-3” shall mean Rule 16b-3 promulgated by the Securities and Exchange Commission under the Exchange Act, as such may be amended
from time to time, and any successor rule, regulation or statute fulfilling the same or a substantially similar function.

 

    6

     

    

 

2.42 “Shares”
or “Stock” shall mean the Class A ordinary shares of the Company, par value $0.0001 per share.

 

2.43 “Stock
Appreciation Right” or “SAR” shall mean an Award granted under Article XIV of the Plan of a right, granted
alone or in connection with a related Option, to receive a payment equal to the increase in value of a specified number of Shares between
the date of Award and the date of exercise.

 

2.44 “Stock
Appreciation Right Agreement” shall mean a written agreement between the Company and a Holder with respect to a Stock Appreciation
Right.

 

2.45 “Tandem
Stock Appreciation Right” shall mean a Stock Appreciation Right granted in connection with a related Option, the exercise of
some or all of which results in termination of the entitlement to purchase some or all of the Shares under the related Option, all as
set forth in Article XIV.

 

2.46 “Ten
Percent Shareholder” shall mean an Employee who, at the time an Option is granted to him or her, owns shares possessing more
than ten percent (10%) of the total combined voting power of all classes of shares of the Company or of any parent corporation or subsidiary
corporation thereof (both as defined in Section 424 of the Code), within the meaning of Section 422(b)(6) of the Code.

 

2.47 “Termination
of Service” shall mean a termination of a Holder’s employment with, or status as a Director or Consultant of, the Company
or an Affiliate, as applicable, for any reason, including, without limitation, Total and Permanent Disability or death, except as provided
in Section 6.4. In the event Termination of Service shall constitute a payment event with respect to any Award subject to Code Section
409A, Termination of Service shall only be deemed to occur upon a “separation from service” as such term is defined under
Code Section 409A and applicable authorities.

 

2.48 “Total
and Permanent Disability” of an individual shall mean the inability of such individual to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted
or can be expected to last for a continuous period of not less than twelve

(12) months, within the meaning of Section 22(e)(3) of the
Code.

 

2.49 “Unit”
shall mean a bookkeeping unit, which represents such monetary amount as shall be designated by the Committee in each Performance Unit
Agreement, or represents one Share for purposes of each Restricted Stock Unit Award.

 

2.50 “Unrestricted
Stock Award” shall mean an Award granted under Article IX of the Plan of Shares which are not subject to Restrictions.

 

    7

     

    

 

2.51 “Unrestricted
Stock Agreement” shall mean a written agreement between the Company and a Holder with respect to an Unrestricted Stock Award.

 

ARTICLE III

EFFECTIVE DATE OF PLAN

 

The Plan shall be effective as of
the Effective Date, provided that the Plan is approved by the shareholders of the Company within twelve (12) months of such date.

 

ARTICLE IV

ADMINISTRATION

 

4.1 Composition
of Committee. The Plan shall be administered by the Committee, which shall be appointed by the Board. If necessary, in the Board’s
discretion, to comply with Rule 16b-3 under the Exchange Act or relevant securities exchange or inter-dealer quotation service, the Committee
shall consist solely of two (2) or more Directors who are each (i) “non-employee directors” within the meaning of Rule 16b-3
and (ii) “independent” for purposes of any applicable listing requirements;. If a member of the Committee shall be eligible
to receive an Award under the Plan, such Committee member shall have no authority hereunder with respect to his or her own Award.

 

4.2 Powers.
Subject to the other provisions of the Plan, the Committee shall have the sole authority, in its discretion, to make all
determinations under the Plan, including but not limited to (i) determining which Employees, Directors or Consultants shall receive
an Award, (ii) the time or times when an Award shall be made (the date of grant of an Award shall be the date on which the Award is
awarded by the Committee), (iii) what type of Award shall be granted, (iv) the term of an Award, (v) the date or dates on which an
Award vests, (vi) the form of any payment to be made pursuant to an Award, (vii) the terms and conditions of an Award (including the
forfeiture of the Award, and/or any financial gain, if the Holder of the Award violates any applicable restrictive covenant
thereof), (viii) the Restrictions under a Restricted Stock Award, (ix) the number of Shares which may be issued under an Award, (x)
Performance Goals applicable to any Award and certification of the achievement of such goals, and (xi) the waiver of any
Restrictions or Performance Goals, subject in all cases to compliance with applicable laws. In making such determinations the
Committee may take into account the nature of the services rendered by the respective Employees, Directors and Consultants, their
present and potential contribution to the Company’s (or the Affiliate’s) success and such other factors as the Committee
in its discretion may deem relevant.

 

4.3 Additional
Powers. The Committee shall have such additional powers as are delegated to it under the other provisions of the Plan. Subject
to the express provisions of the Plan, the Committee is authorized to construe the Plan and the respective Award Agreements executed
hereunder, to prescribe such rules and regulations relating to the Plan as it may deem advisable to carry out the intent of the
Plan, to determine the terms, restrictions and provisions of each Award and to make all other determinations necessary or advisable
for administering the Plan. The Committee may correct any defect or supply any omission or reconcile any inconsistency in any Award
Agreement in the manner and to the extent the Committee shall deem necessary, appropriate or expedient to carry it into effect. The
determinations of the Committee on the matters referred to in this Article IV shall be conclusive and binding on the Company and all
Holders.

 

    8

     

    

 

4.4 Committee
Action. Subject to compliance with all applicable laws, action by the Committee shall require the consent of a majority of the members
of the Committee, expressed either orally at a meeting of the Committee or in writing in the absence of a meeting. No member of the Committee
shall have any liability for any good faith action, inaction or determination in connection with the Plan.

 

ARTICLE V

SHARES SUBJECT TO PLAN AND LIMITATIONS
THEREON

 

5.1 Authorized
Shares. The Committee may from time to time grant Awards to one or more Employees, Directors and/or Consultants determined by it to
be eligible for participation in the Plan in accordance with the provisions of Article VI. Subject to any adjustments as necessary pursuant
to Article XV, the aggregate number of Shares reserved and available for grant and issuance under the Plan is 20% of the total shares
on a fully diluted basis immediately after the IPO. In the event that (i) any Option or other Award granted hereunder is exercised through
the tendering of Shares (either actually or by attestation) or by the withholding of Shares by the Company, or (ii) tax or deduction liabilities
arising from such Option or other Award are satisfied by the tendering of Shares (either actually or by attestation) or by the withholding
of Shares by the Company, then in each such case the Shares so tendered or withheld shall be added to the Shares available for grant under
the Plan on a one-for-one basis. Shares underlying Awards under this Plan that are forfeited, canceled, expire unexercised, or are settled
in cash shall also be available again for issuance as Awards under the Plan.

 

5.2 Types
of Shares. The Shares to be issued pursuant to the grant or exercise of an Award may consist of authorized but unissued Shares, Shares
purchased on the open market or Shares previously issued and outstanding and repurchased by the Company.

 

5.3 Aggregate
Incentive Stock Option Limit. Notwithstanding anything to the contrary in Section 5.1, and subject to Article XV, the aggregate maximum
number of Shares that may be issued pursuant to the exercise of Incentive Stock Options is 20% of total shares on a fully diluted basis
immediately after the IPO.

 

    9

     

    

 

ARTICLE VI

ELIGIBILITY AND TERMINATION
OF SERVICE

 

6.1 Eligibility.
Awards made under the Plan may be granted solely to individuals who, at the time of grant, are Employees, Directors or Consultants.
An Award may be granted on more than one occasion to the same Employee, Director or Consultant, and, subject to the limitations set
forth in the Plan, such Award may include, a Non-qualified Stock Option, a Restricted Stock Award, a Restricted Stock Unit Award, an
Unrestricted Stock Award, a Distribution Equivalent Right Award, a Performance Stock Award, a Performance Unit Award, a Stock
Appreciation Right, a Tandem Stock Appreciation Right, or any combination thereof, and solely for Employees, an Incentive Stock
Option.

 

6.2 Termination
of Service. Except to the extent inconsistent with the terms of the applicable Award Agreement and/or the provisions of Section 6.3
or 6.4, the following terms and conditions shall apply with respect to a Holder’s Termination of Service with the Company or an
Affiliate, as applicable:

 

(a) The
Holder’s rights, if any, to exercise any then exercisable Options and/or Stock Appreciation Rights shall terminate:

 

(i) If
such termination is for a reason other than the Holder’s Total and Permanent Disability or death, ninety (90) days after the date
of such Termination of Service;

 

(ii) If
such termination is on account of the Holder’s Total and Permanent Disability, one (1) year after the date of such Termination of
Service; or

 

(iii) If such termination is on account
of the Holder’s death, one(1) year after the date of the Holder’s death.

 

Upon such applicable date the Holder
(and such Holder’s estate, designated beneficiary or other legal representative) shall forfeit any rights or interests in or with
respect to any such Options and Stock Appreciation Rights. Notwithstanding the foregoing, the Committee, in its sole discretion, may provide
for a different time period in the Award Agreement, or may extend the time period, following a Termination of Service, during which the
Holder has the right to exercise any vested Non-qualified Stock Option or Stock Appreciation Right, which time period may not extend beyond
the expiration date of the Award term.

 

(b) In
the event of a Holder’s Termination of Service for any reason prior to the actual or deemed satisfaction and/or lapse of the Restrictions,
vesting requirements, terms and conditions applicable to a Restricted Stock Award and/or Restricted Stock Unit Award, such Restricted
Stock and/or RSUs shall immediately be canceled, and the Holder (and such Holder’s estate, designated beneficiary or other legal
representative) shall forfeit any rights or interests in and with respect to any such Restricted Stock and/or RSUs.

 

    10

     

    

 

6.3 Special
Termination Rule. Except to the extent inconsistent with the terms of the applicable Award Agreement, and notwithstanding
anything to the contrary contained in this Article VI, if a Holder’s employment with, or status as a Director of, the Company
or an Affiliate shall terminate, and if, within ninety (90) days of such termination, such Holder shall become a Consultant, such
Holder’s rights with respect to any Award or portion thereof granted thereto prior to the date of such termination may be
preserved, if and to the extent determined by the Committee in its sole discretion, as if such Holder had been a Consultant for the
entire period during which such Award or portion thereof had been outstanding. Should the Committee effect such determination with
respect to such Holder, for all purposes of the Plan, such Holder shall not be treated as if his or her employment or Director
status had terminated until such time as his or her Consultant status shall terminate, in which case his or her Award, as it may
have been reduced in connection with the Holder’s becoming a Consultant, shall be treated pursuant to the provisions of
Section 6.2, provided, however, that any such Award which is intended to be an Incentive Stock Option shall, upon the
Holder’s no longer being an Employee, automatically convert to a Non-qualified Stock Option. Should a Holder’s status as
a Consultant terminate, and if, within ninety (90) days of such termination, such Holder shall become an Employee or a Director,
such Holder’s rights with respect to any Award or portion thereof granted thereto prior to the date of such termination may be
preserved, if and to the extent determined by the Committee in its sole discretion, as if such Holder had been an Employee or a
Director, as applicable, for the entire period during which such Award or portion thereof had been outstanding, and, should the
Committee effect such determination with respect to such Holder, for all purposes of the Plan, such Holder shall not be treated as
if his or her Consultant status had terminated until such time as his or her employment with the Company or an Affiliate, or his or
her Director status, as applicable, shall terminate, in which case his or her Award shall be treated pursuant to the provisions of
Section 6.2.

 

6.4 Termination
of Service for Cause. Notwithstanding anything in this Article VI or elsewhere in the Plan to the contrary, and unless a Holder’s
Award Agreement specifically provides otherwise, in the event of a Holder’s Termination of Service for Cause, all of such Holder’s
then outstanding Awards shall expire immediately and be forfeited in their entirety upon such Termination of Service.

 

ARTICLE VII

OPTIONS

 

7.1 Option
Period. The term of each Option shall be as specified in the Option Agreement; provided, however, that except as
set forth in Section 7.3, no Option shall be exercisable after the expiration of ten (10) years from the date of its grant. If the
Option would expire at a time when the exercise of the Option would violate applicable securities laws, the expiration date
applicable to the Option will be automatically extended to a date that is 30 calendar days following the date such exercise would no
longer violate applicable securities laws (so long as such extension shall not violate Section 409A of the Code); provided, that in
no event shall such expiration date be extended beyond the expiration of the option period.

 

7.2 Limitations
on Exercise of Option. An Option shall be exercisable in whole or in such installments and at such times as specified in the Option
Agreement

 

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7.3 Special
Limitations on Incentive Stock Options. To the extent that the aggregate Fair Market Value (determined at the time the
respective Incentive Stock Option is granted) of Shares with respect to which Incentive Stock Options are exercisable for the first
time by an individual during any calendar year under all plans of the Company and any parent corporation or subsidiary corporation
thereof (both as defined in Section 424 of the Code) which provide for the grant of Incentive Stock Options exceeds One Hundred
Thousand Dollars ($100,000) (or such other individual limit as may be in effect under the Code on the date of grant), the portion of
such Incentive Stock Options that exceeds such threshold shall be treated as Non-qualified Stock Options. The Committee shall
determine, in accordance with applicable provisions of the Code, Treasury Regulations and other administrative pronouncements, which
of a Holder’s Options, which were intended by the Committee to be Incentive Stock Options when granted to the Holder, will not
constitute Incentive Stock Options because of such limitation, and shall notify the Holder of such determination as soon as
practicable after such determination. No Incentive Stock Option shall be granted to an Employee if, at the time the Incentive Stock
Option is granted, such Employee is a Ten Percent Shareholder, unless (i) at the time such Incentive Stock Option is granted the
Option price is at least one hundred ten percent (110%) of the Fair Market Value of the Shares subject to the Incentive Stock
Option, and (ii) such Incentive Stock Option by its terms is not exercisable after the expiration of five (5) years from the date of
grant. No Incentive Stock Option shall be granted more than ten (10) years from the earlier of the Effective Date or date on which
the Plan is approved by the Company’s shareholders. The designation by the Committee of an Option as an Incentive Stock Option
shall not guarantee the Holder that the Option will satisfy the applicable requirements for “incentive stock option”
status under Section 422 of the Code.

 

7.4 Option
Agreement. Each Option shall be evidenced by an Option Agreement in such form and containing such provisions not inconsistent
with the other provisions of the Plan as the Committee from time to time shall approve, including, but not limited to, provisions
intended to qualify an Option as an Incentive Stock Option. An Option Agreement may provide for the payment of the Option price, in
whole or in part, by the delivery of a number of Shares (plus cash if necessary) that have been owned by the Holder for at least six
(6) months and having a Fair Market Value equal to such Option price, or such other forms or methods as the Committee may determine
from time to time, in each case, subject to such rules and regulations as may be adopted by the Committee. Each Option Agreement
shall, solely to the extent inconsistent with the provisions of Sections 6.2, 6.3, and 6.4, as applicable, specify the effect of
Termination of Service on the exercisability of the Option. Moreover, without limiting the generality of the foregoing, a
Non-qualified Stock Option Agreement may provide for a “cashless exercise” of the Option, in whole or in part, by (a)
establishing procedures whereby the Holder, by a properly-executed written notice, directs (i) an immediate market sale or margin
loan as to all or a part of Shares to which he is entitled to receive upon exercise of the Option, pursuant to an extension of
credit by the Company to the Holder of the Option price, (ii) the delivery of the Shares from the Company directly to a brokerage
firm and (iii) the delivery of the Option price from sale or margin loan proceeds from the brokerage firm directly to the Company,
or (b) reducing the number of Shares to be issued upon exercise of the Option by the number of such Shares having an aggregate Fair
Market Value equal to the Option price (or portion thereof to be so paid) as of the date of the Option’s exercise. An Option
Agreement may also include provisions relating to: (i) subject to the provisions hereof, accelerated vesting of Options, including
but not limited to, upon the occurrence of a Change of Control, (ii) tax matters (including provisions covering any applicable
Employee wage withholding requirements) and (iii) any other matters not inconsistent with the terms and provisions of the Plan that
the Committee shall in its sole discretion determine. The terms and conditions of the respective Option Agreements need not be
identical.

 

    12

     

    

 

7.5 Option
Price and Payment. The price at which a Share may be purchased upon exercise of an Option shall be determined by the Committee; provided,
however, that such Option price (i) shall not be less than the Fair Market Value of a Share on the date such Option is granted
(or 110% of Fair Market Value for an Incentive Stock Option held by Ten Percent Shareholder, as provided in Section 7.3), and (ii) shall
be subject to adjustment as provided in Article XV, but in no event shall such price be lower than the par value of the Shares. The Option
or portion thereof may be exercised by delivery of an irrevocable notice of exercise to the Company. The Option price for the Option or
portion thereof shall be paid in full in the manner prescribed by the Committee as set forth in the Plan and the applicable Option Agreement,
which manner, with the consent of the Committee, may include the withholding of Shares otherwise issuable in connection with the exercise
of the Option. Separate share certificates shall be issued by the Company for those Shares acquired pursuant to the exercise of an Incentive
Stock Option and for those Shares acquired pursuant to the exercise of a Non-qualified Stock Option.

 

7.6 Shareholder
Rights and Privileges. The Holder of an Option shall be entitled to all the privileges and rights of a shareholder of the Company
solely with respect to such Shares as have been purchased and exercised under the Option and for which share have been registered in the
Holder’s name in the Company's register of members.

 

7.7 Options
and Rights in Substitution for Stock or Options Granted by Other Corporations. Options may be granted under the Plan from time to
time in substitution for stock options held by individuals employed by entities who become Employees, Directors or Consultants as a result
of a merger or consolidation of the employing entity with the Company or any Affiliate, or the acquisition by the Company or an Affiliate
of the assets of the employing entity, or the acquisition by the Company or an Affiliate of stock or shares of the employing entity with
the result that such employing entity becomes an Affiliate. Any substitute Awards granted under this Plan shall not reduce the number
of Shares authorized for grant under the Plan.

 

7.8 Prohibition
Against Repricing. Except to the extent (i) approved in advance by holders of a majority of the shares of the Company entitled to
vote generally in the election of directors, or (ii) as a result of any Change of Control or any adjustment as provided in Article XV,
the Committee shall not have the power or authority to reduce, whether through amendment or otherwise, the exercise price under any outstanding
Option or Stock Appreciation Right, or to grant any new Award or make any payment of cash in substitution for or upon the cancellation
of Options and/or Stock Appreciation Rights previously granted.

 

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ARTICLE VIII

RESTRICTED STOCK AWARDS

 

8.1 Award.
A Restricted Stock Award shall constitute an Award of Shares to the Holder as of the date of the Award which are subject to a
“substantial risk of forfeiture” as defined under Section 83 of the Code during the specified Restriction Period. At the
time a Restricted Stock Award is made, the Committee shall establish the Restriction Period applicable to such Award. Each
Restricted Stock Award may have a different Restriction Period, in the discretion of the Committee. The Restriction Period
applicable to a particular Restricted Stock Award shall not be changed except as permitted by Section 8.2.

 

8.2 Terms and
Conditions. At the time any Award is made under this Article VIII, the Company and the Holder shall enter into a Restricted
Stock Agreement setting forth each of the matters contemplated thereby and such other matters as the Committee may determine to be
appropriate. The Company shall cause the Shares to be issued in the name of Holder, either by book-entry registration or issuance of
one or more stock certificates evidencing the Shares, which Shares or certificates shall be held by the Company or the stock
transfer agent or brokerage service selected by the Company to provide services for the Plan. The Shares shall be restricted from
transfer and shall be subject to an appropriate stop-transfer order, and if any certificate is issued, such certificate shall bear
an appropriate legend referring to the restrictions applicable to the Shares. After any Shares vest, the Company shall deliver the
vested Shares, in book- entry or certificated form in the Company’s sole discretion, registered in the name of Holder or his
or her legal representatives, beneficiaries or heirs, as the case may be, less any Shares withheld to pay withholding taxes. If
provided for under the Restricted Stock Agreement, the Holder shall have the right to vote Shares subject thereto and to enjoy all
other shareholder rights, including the entitlement to receive dividends on the Shares during the Restriction Period. At the time of
such Award, the Committee may, in its sole discretion, prescribe additional terms and conditions or restrictions relating to
Restricted Stock Awards, including, but not limited to, rules pertaining to the effect of Termination of Service prior to expiration
of the Restriction Period. Such additional terms, conditions or restrictions shall, to the extent inconsistent with the provisions
of Sections 6.2, 6.3 and 6.4, as applicable, be set forth in a Restricted Stock Agreement made in conjunction with the Award. Such
Restricted Stock Agreement may also include provisions relating to: (i) subject to the provisions hereof, accelerated vesting of
Awards, including but not limited to accelerated vesting upon the occurrence of a Change of Control, (ii) tax matters (including
provisions covering any applicable Employee wage withholding requirements) and (iii) any other matters not inconsistent with the
terms and provisions of the Plan that the Committee shall in its sole discretion determine. The terms and conditions of the
respective Restricted Stock Agreements need not be identical. All Shares delivered to a Holder as part of a Restricted Stock Award
shall be delivered and reported by the Company or the Affiliate, as applicable, to the Holder at the time of vesting.

 

8.3 Payment
for Restricted Stock. The Committee shall determine the amount and form of any payment from a Holder for Shares received
pursuant to a Restricted Stock Award provided such amount shall be no less than the aggregate par value of the Shares to be issued
by the Company. In the absence of such a determination, a Holder shall be required to pay a nominal amount equivalent to the
aggregate par value of the Shares received pursuant to a Restricted Stock Award.

 

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ARTICLE IX

UNRESTRICTED STOCK AWARDS

 

9.1 Award.
Shares may be awarded (or sold) to Employees, Directors or Consultants under the Plan which are not subject to Restrictions of any kind,
in consideration for past services rendered thereby to the Company or an Affiliate or for other valid consideration.

 

9.2 Terms
and Conditions. At the time any Award is made under this Article IX, the Company and the Holder shall enter into an Unrestricted Stock
Agreement setting forth each of the matters contemplated hereby and such other matters as the Committee may determine to be appropriate.

 

9.3 Payment
for Unrestricted Stock. The Committee shall determine the amount and form of any payment from a Holder for Shares received pursuant
to an Unrestricted Stock Award provided such amount shall be no less than the aggregate par value of the Shares to be issued by the Company.
In the absence of such a determination, a Holder shall be required to pay a nominal amount equivalent to the aggregate par value of the
Shares received pursuant to an Unrestricted Stock Award.

 

ARTICLE X

RESTRICTED STOCK UNIT AWARDS

 

10.1 Award.
A Restricted Stock Unit Award shall constitute a promise to grant Shares (or cash equal to the Fair Market Value of Shares) to the Holder
at the end of a specified vesting schedule. At the time a Restricted Stock Unit Award is made, the Committee shall establish the vesting
schedule applicable to such Award. Each Restricted Stock Unit Award may have a different vesting schedule, in the discretion of the Committee.
A Restricted Stock Unit shall not constitute an equity interest in the Company and shall not entitle the Holder to voting rights, dividends
or any other rights associated with ownership of Shares prior to the time the Holder shall receive a distribution of Shares pursuant to
Section 10.3.

 

10.2 Terms
and Conditions. At the time any Award is made under this Article X, the Company and the Holder shall enter into a Restricted
Stock Unit Agreement setting forth each of the matters contemplated thereby and such other matters as the Committee may determine to
be appropriate. The Restricted Stock Unit Agreement shall set forth the individual service-based vesting requirement which the
Holder would be required to satisfy before the Holder would become entitled to distribution pursuant to Section 10.3 and the number
of Units awarded to the Holder. Such conditions shall be sufficient to constitute a “substantial risk of forfeiture” as
such term is defined under Section 409A of the Code. At the time of such Award, the Committee may, in its sole discretion, prescribe
additional terms and conditions or restrictions relating to Restricted Stock Unit Awards in the Restricted Stock Unit Agreement,
including, but not limited to, rules pertaining to the effect of Termination of Service prior to expiration of the applicable
vesting period. The terms and conditions of the respective Restricted Stock Unit Agreements need not be identical.

 

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10.3 Distributions
of Shares. The Holder of a Restricted Stock Unit shall be entitled to receive Shares or a cash payment equal to the Fair Market Value
of a Share, or one Share, as determined in the sole discretion of the Committee and as set forth in the Restricted Stock Unit Agreement,
for each Restricted Stock Unit subject to such Restricted Stock Unit Award, if the Holder satisfies the applicable vesting requirement.
Such distribution shall be made no later than by the fifteenth (15th) day of the third (3rd) calendar month next
following the end of the calendar year in which the Restricted Stock Unit first becomes vested (i.e., no longer subject to a “substantial
risk of forfeiture”).

 

ARTICLE XI

PERFORMANCE UNIT AWARDS

 

11.1 Award.
A Performance Unit Award shall constitute an Award under which, upon the satisfaction of predetermined individual and/or Company (and/or
Affiliate) Performance Goals based on selected Performance Criteria, a cash payment shall be made to the Holder, based on the number of
Units awarded to the Holder. At the time a Performance Unit Award is made, the Committee shall establish the Performance Period and applicable
Performance Goals. Each Performance Unit Award may have different Performance Goals, in the discretion of the Committee. A Performance
Unit Award shall not constitute an equity interest in the Company and shall not entitle the Holder to voting rights, dividends or any
other rights associated with ownership of Shares.

 

11.2 Terms
and Conditions. At the time any Award is made under this Article XI, the Company and the Holder shall enter into a Performance Unit
Agreement setting forth each of the matters contemplated thereby and such other matters as the Committee may determine to be appropriate.
The Committee shall set forth in the applicable Performance Unit Agreement the Performance Period, Performance Criteria and Performance
Goals which the Holder and/or the Company would be required to satisfy before the Holder would become entitled to payment pursuant to
Section 11.3, the number of Units awarded to the Holder and the dollar value or formula assigned to each such Unit. Such payment shall
be subject to a “substantial risk of forfeiture” under Section 409A of the Code. At the time of such Award, the Committee
may, in its sole discretion, prescribe additional terms and conditions or restrictions relating to Performance Unit Awards, including,
but not limited to, rules pertaining to the effect of Termination of Service prior to expiration of the applicable performance period.
The terms and conditions of the respective Performance Unit Agreements need not be identical.

 

11.3 Payments.
The Holder of a Performance Unit shall be entitled to receive a cash payment equal to the dollar value assigned to such Unit under the
applicable Performance Unit Agreement if the Holder and/or the Company satisfy (or partially satisfy, if applicable under the applicable Performance
Unit Agreement) the Performance Goals set forth in such Performance Unit Agreement. All payments shall be made no later than by the fifteenth
(15th) day of the third (3rd) calendar month next following the end of the Company’s fiscal year to which
such performance goals and objectives relate.

 

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ARTICLE XII

PERFORMANCE STOCK AWARDS

 

12.1 Award.
A Performance Stock Award shall constitute a promise to grant Shares (or cash equal to the Fair Market Value of Shares) to the Holder
at the end of a specified Performance Period subject to achievement of specified Performance Goals. At the time a Performance Stock Award
is made, the Committee shall establish the Performance Period and applicable Performance Goals based on selected Performance Criteria.
Each Performance Stock Award may have different Performance Goals, in the discretion of the Committee. A Performance Stock Award shall
not constitute an equity interest in the Company and shall not entitle the Holder to voting rights, dividends or any other rights associated
with ownership of Shares unless and until the Holder shall receive a distribution of Shares pursuant to Section 12.3.

 

12.2 Terms
and Conditions. At the time any Award is made under this Article XII, the Company and the Holder shall enter into a Performance Stock
Agreement setting forth each of the matters contemplated thereby and such other matters as the Committee may determine to be appropriate.
The Committee shall set forth in the applicable Performance Stock Agreement the Performance Period, selected Performance Criteria and
Performance Goals which the Holder and/or the Company would be required to satisfy before the Holder would become entitled to the receipt
of Shares pursuant to such Holder’s Performance Stock Award and the number of Shares subject to such Performance Stock Award. Such
distribution shall be subject to a “substantial risk of forfeiture” under Section 409A of the Code. If such Performance Goals
are achieved, the distribution of Shares (or the payment of cash, as determined in the sole discretion of the Committee), shall be made
in accordance with Section 12.3, below. At the time of such Award, the Committee may, in its sole discretion, prescribe additional terms
and conditions or restrictions relating to Performance Stock Awards, including, but not limited to, rules pertaining to the effect of
the Holder’s Termination of Service prior to the expiration of the applicable performance period. The terms and conditions of the
respective Performance Stock Agreements need not be identical.

 

12.3 Distributions
of Shares. The Holder of a Performance Stock Award shall be entitled to receive a cash payment equal to the Fair Market Value of a
Share, or one Share, as determined in the sole discretion of the Committee, for each Performance Stock Award subject to such Performance
Stock Agreement, if the Holder satisfies the applicable vesting requirement. Such distribution shall be made no later than by the fifteenth
(15th) day of the third (3rd) calendar month next following the end of the Company’s fiscal year to which
such performance goals and objectives relate.

 

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ARTICLE XIII

DISTRIBUTION EQUIVALENT
RIGHTS

 

13.1 Award.
A Distribution Equivalent Right shall entitle the Holder to receive bookkeeping credits, cash payments and/or Share distributions equal
in amount to the distributions that would have been made to the Holder had the Holder held a specified number of Shares during the specified
period of the Award.

 

13.2 Terms
and Conditions. At the time any Award is made under this Article XIII, the Company and the Holder shall enter into a Distribution
Equivalent Rights Award Agreement setting forth each of the matters contemplated thereby and such other matters as the Committee may determine
to be appropriate. The Committee shall set forth in the applicable Distribution Equivalent Rights Award Agreement the terms and conditions,
if any, including whether the Holder is to receive credits currently in cash, is to have such credits reinvested (at Fair Market Value
determined as of the date of reinvestment) in additional Shares or is to be entitled to choose among such alternatives. Such receipt shall
be subject to a “substantial risk of forfeiture” under Section 409A of the Code and, if such Award becomes vested, the distribution
of such cash or Shares shall be made no later than by the fifteenth (15th) day of the third (3rd) calendar month
next following the end of the Company’s fiscal year in which the Holder’s interest in the Award vests. Distribution Equivalent
Rights Awards may be settled in cash or in Shares, as set forth in the applicable Distribution Equivalent Rights Award Agreement. A Distribution
Equivalent Rights Award may, but need not be, awarded in tandem with another Award (other than an Option or a SAR), whereby, if so awarded,
such Distribution Equivalent Rights Award shall expire, terminate or be forfeited by the Holder, as applicable, under the same conditions
as under such other Award.

 

13.3 Interest
Equivalents. The Distribution Equivalent Rights Award Agreement for a Distribution Equivalent Rights Award may provide for the crediting
of interest on a Distribution Rights Award to be settled in cash at a future date (but in no event later than by the fifteenth (15th)
day of the third (3rd) calendar month next following the end of the Company’s fiscal year in which such interest is credited
and vested), at a rate set forth in the applicable Distribution Equivalent Rights Award Agreement, on the amount of cash payable thereunder.

 

ARTICLE XIV

STOCK APPRECIATION RIGHTS

 

14.1 Award.
A Stock Appreciation Right shall constitute a right, granted alone or in connection with a related Option, to receive a payment equal
to the increase in value of a specified number of Shares between the date of Award and the date of exercise.

 

14.2 Terms
and Conditions. At the time any Award is made under this Article XIV, the Company and the Holder shall enter into a Stock Appreciation
Right Agreement setting forth each of the matters contemplated thereby and such other matters as the Committee may determine to be appropriate.
The Committee shall set forth in the applicable Stock Appreciation Right Agreement the terms and conditions of the Stock Appreciation Right, including (i) the base value (the
“Base Value”) for the Stock Appreciation Right, which shall be not less than the Fair Market Value of a Share on the
date of grant of the Stock Appreciation Right, (ii) the number of Shares subject to the Stock Appreciation Right, (iii) the period during
which the Stock Appreciation Right may be exercised; provided, however, that no Stock Appreciation Right shall be exercisable
after the expiration of ten (10) years from the date of its grant, and (iv) any other special rules and/or requirements which the Committee
imposes upon the Stock Appreciation Right. Upon the exercise of some or all of the portion of a Stock Appreciation Right, the Holder shall
receive a payment from the Company, in cash or in the form of Shares having an equivalent Fair Market Value or in a combination of both,
as determined in the sole discretion of the Committee, equal to the product of:

 

(a) The
excess of (i) the Fair Market Value of a Share on the date of exercise, over (ii) the Base Value, multiplied by,

 

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

 

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14.3 Tandem
Stock Appreciation Rights. If the Committee grants a Stock Appreciation Right which is intended to be a Tandem Stock Appreciation
Right, the Tandem Stock Appreciation Right shall be granted at the same time as the related Option, and the following special rules shall
apply:

 

(a) The
Base Value shall be equal to or greater than the per Share exercise price under the related Option;

 

(b) The
Tandem Stock Appreciation Right may be exercised for all or part of the Shares which are subject to the related Option, but solely upon
the surrender by the Holder of the Holder’s right to exercise the equivalent portion of the related Option (and when a Share is
purchased under the related Option, an equivalent portion of the related Tandem Stock Appreciation Right shall be canceled);

 

(c) The
Tandem Stock Appreciation Right shall expire no later than the date of the expiration of the related Option;

 

(d) The
value of the payment with respect to the Tandem Stock Appreciation Right may be no more than one hundred percent (100%) of the difference
between the per Share exercise price under the related Option and the Fair Market Value of the Shares subject to the related Option at
the time the Tandem Stock Appreciation Right is exercised, multiplied by the number of the Shares with respect to which the Tandem Stock
Appreciation Right is exercised; and

 

(e) The
Tandem Stock Appreciation Right may be exercised solely when the Fair Market Value of the Shares subject to the related Option exceeds
the per Share exercise price under the related Option.

 

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ARTICLE XV

RECAPITALIZATION OR REORGANIZATION

 

15.1 Adjustments
to Shares. The shares with respect to which Awards may be granted under the Plan are Shares as presently constituted; provided,
however, that if, and whenever, prior to the expiration or distribution to the Holder of Shares underlying an Award theretofore
granted, the Company shall effect a subdivision or consolidation of the Shares or the payment of an Share dividend on Shares without receipt
of consideration by the Company, the number of Shares with respect to which such Award may thereafter be exercised or satisfied, as applicable,
(i) in the event of an increase in the number of outstanding Shares, shall be proportionately increased, and the purchase price per Share
shall be proportionately reduced, and (ii) in the event of a reduction in the number of outstanding Shares, shall be proportionately reduced,
and the purchase price per Share shall be proportionately increased. Notwithstanding the foregoing or any other provision of this Article
XV, any adjustment made with respect to an Award (x) which is an Incentive Stock Option, shall comply with the requirements of Section
424(a) of the Code, and in no event shall any adjustment be made which would render any Incentive Stock Option granted under the Plan
to be other than an “incentive stock option” for purposes of Section 422 of the Code, and (y) which is a Non-qualified Stock
Option, shall comply with the requirements of Section 409A of the Code, and in no event shall any adjustment be made which would render
any Non-qualified Stock Option granted under the Plan to become subject to Section 409A of the Code.

 

15.2 Recapitalization.
If the Company recapitalizes or otherwise changes its capital structure, thereafter upon any exercise or satisfaction, as applicable,
of a previously granted Award, the Holder shall be entitled to receive (or entitled to purchase, if applicable) under such Award, in lieu
of the number of Shares then covered by such Award, the number and class of shares and securities to which the Holder would have been
entitled pursuant to the terms of the recapitalization if, immediately prior to such recapitalization, the Holder had been the holder
of record of the number of Shares then covered by such Award.

 

15.3 Other
Events. In the event of changes to the outstanding Shares by reason of an extraordinary cash dividend, reorganization, merger, consolidation,
combination, split-up, spin-off, exchange or other relevant change in capitalization occurring after the date of the grant of any Award
and not otherwise provided for under this Article XV, any outstanding Awards and any Award Agreements evidencing such Awards shall be
adjusted by the Board in its discretion in such manner as the Board shall deem equitable or appropriate taking into consideration the
applicable accounting and tax consequences, as to the number and price of Shares or other consideration subject to such Awards. In the
event of any adjustment pursuant to Sections 15.1, 15.2 or this Section 15.3, the aggregate number of Shares available under the Plan
pursuant to Section 5.1 may be appropriately adjusted by the Board, the determination of which shall be conclusive. In addition, the Committee
may make provision for a cash payment to a Holder or a person who has an outstanding Award.

 

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15.4 Change
of Control. The Committee may, in its sole discretion, at the time an Award is made or at any time prior to, coincident with or after
the time of a Change of Control, cause any Award either (i) to be canceled in consideration of a payment in cash or other consideration
in amount per share equal to the excess, if any, of the price or implied price per Share in the Change of Control over the per Share exercise,
base or purchase price of such Award, which may be paid immediately or over the vesting schedule of the Award; (ii) to be assumed, or
new rights substituted therefore, by the surviving corporation or a parent or subsidiary of such surviving corporation following such
Change of Control; (iii) accelerate any time periods, or waive any other conditions, relating to the vesting, exercise, payment or distribution
of an Award so that any Award to a Holder whose employment has been terminated as a result of a Change of Control may be vested, exercised,
paid or distributed in full on or before a date fixed by the Committee; (iv) to be purchased from a Holder whose employment has been terminated
as a result of a Change of Control, upon the Holder’s request, for an amount of cash equal to the amount that could have been obtained
upon the exercise, payment or distribution of such rights had such Award been currently exercisable or payable; or (v) terminate any then
outstanding Award or make any other adjustment to the Awards then outstanding as the Committee deems necessary or appropriate to reflect
such transaction or change. The number of Shares subject to any Award shall be rounded to the nearest whole number.

 

15.5 Powers
Not Affected. The existence of the Plan and the Awards granted hereunder shall not affect in any way the right or power of the Board
or of the shareholders of the Company to make or authorize any adjustment, recapitalization, reorganization or other change of the Company’s
capital structure or business, any merger or consolidation of the Company, any issue of debt or equity securities ahead of or affecting
Shares or the rights thereof, the dissolution or liquidation of the Company or any sale, lease, exchange or other disposition of all or
any part of its assets or business or any other corporate act or proceeding.

 

15.6 No
Adjustment for Certain Awards. Except as hereinabove expressly provided, the issuance by the Company of shares of any class or securities
convertible into shares of any class, for cash, property, labor or services, upon direct sale, upon the exercise of rights or warrants
to subscribe therefor or upon conversion of shares or obligations of the Company convertible into such shares or other securities, and
in any case whether or not for fair value, shall not affect previously granted Awards, and no adjustment by reason thereof shall be made
with respect to the number of Shares subject to Awards theretofore granted or the purchase price per Share, if applicable.

 

ARTICLE XVI

AMENDMENT AND TERMINATION OF PLAN

 

The Plan shall
continue in effect, unless sooner terminated pursuant to this Article XVI, until the tenth (10th) anniversary of the date
on which it is adopted by the Board (except as to Awards outstanding on that date). The Board may amend, alter, suspend,
discontinue, or terminate the Plan or any portion thereof at any time; provided that (i) no amendment to Section 7.8
(repricing prohibitions) shall be made without shareholder approval and (ii) no such amendment, alteration, suspension,
discontinuation or termination shall be made without shareholder approval if such approval is necessary to comply with any tax or
regulatory requirement applicable to the Plan (including, without limitation, as necessary to comply with any rules or requirements
of any securities exchange or inter-dealer quotation system on which the Stock may be listed or quoted); provided, further,
that any such amendment, alteration, suspension, discontinuance or termination that would materially and adversely affect the rights
of any Holder or beneficiary of any Award theretofore granted shall not to that extent be effective without the consent of the
affected Holder or beneficiary (unless such change is required in order to exempt the Plan or any Award from Section 409A of the
Code).

 

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ARTICLE XVII

MISCELLANEOUS

 

17.1 No
Right to Award. Neither the adoption of the Plan by the Company nor any action of the Board or the Committee shall be deemed to give
an Employee, Director or Consultant any right to an Award except as may be evidenced by an Award Agreement duly executed on behalf of
the Company, and then solely to the extent and on the terms and conditions expressly set forth therein.

 

17.2 No Rights
Conferred. Nothing contained in the Plan shall (i) confer upon any Employee any right with respect to continuation of employment
with the Company or any Affiliate, (ii) interfere in any way with any right of the Company or any Affiliate to terminate the
employment of an Employee at any time, (iii) confer upon any Director any right with respect to continuation of such
Director’s membership on the Board, (iv) interfere in any way with any right of the Company or an Affiliate to terminate a
Director’s membership on the Board at any time, (v) confer upon any Consultant any right with respect to continuation of his
or her consulting engagement with the Company or any Affiliate, or (vi) interfere in any way with any right of the Company or an
Affiliate to terminate a Consultant’s consulting engagement with the Company or an Affiliate at any time.

 

17.3 Other
Laws; No Fractional Shares; Withholding. The Company shall not be obligated by virtue of any provision of the Plan to recognize the
exercise of any Award or to otherwise sell or issue Shares in violation of any laws, rules or regulations, and any postponement of the
exercise or settlement of any Award under this provision shall not extend the term of such Award. Neither the Company nor its directors
or officers shall have any obligation or liability to a Holder with respect to any Award (or Shares issuable thereunder) (i) that shall
lapse because of such postponement, or (ii) for any failure to comply with the requirements of any applicable law, rules or regulations,
including but not limited to any failure to comply with the requirements of Section 409A of this Code. No fractional Shares shall be delivered,
nor shall any cash in lieu of fractional Shares be paid. The Company shall have the right to deduct in cash (whether under this Plan or
otherwise) in connection with all Awards any taxes required by law to be withheld and to require any payments required to enable it to
satisfy its withholding obligations. In the case of any Award satisfied in the form of Shares, no Shares shall be issued unless and until
arrangements satisfactory to the Company shall have been made to satisfy any tax withholding obligations applicable with respect to such
Award. Subject to such terms and conditions as the Committee may impose,
the Company shall have the right to retain, or the Committee may, subject to such terms and conditions as it may establish from time to
time, permit Holders to elect to tender, Shares (including Shares issuable in respect of an Award) to satisfy, in whole or in part, the
amount required to be withheld.

 

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17.4 No
Restriction on Corporate Action. Nothing contained in the Plan shall be construed to prevent the Company or any Affiliate from taking
any corporate action which is deemed by the Company or such Affiliate to be appropriate or in its best interest, whether or not such action
would have an adverse effect on the Plan or any Award made under the Plan. No Employee, Director, Consultant, beneficiary or other person
shall have any claim against the Company or any Affiliate as a result of any such action.

 

17.5 Restrictions
on Transfer. No Award under the Plan or any Award Agreement and no rights or interests herein or therein, shall or may be assigned,
transferred, sold, exchanged, encumbered, pledged or otherwise hypothecated or disposed of by a Holder except (i) by will or by the laws
of descent and distribution, or (ii) where permitted under applicable tax rules, by gift to any Family Member of the Holder, subject to
compliance with applicable laws. An Award may be exercisable during the lifetime of the Holder only by such Holder or by the Holder’s
guardian or legal representative unless it has been transferred by gift to a Family Member of the Holder, in which case it shall be exercisable
solely by such transferee. Notwithstanding any such transfer, the Holder shall continue to be subject to the withholding requirements
provided for under

Section 17.3 hereof.

 

17.6 Beneficiary
Designations. Each Holder may, from time to time, name a beneficiary or beneficiaries (who may be contingent or successive
beneficiaries) for purposes of receiving any amount which is payable in connection with an Award under the Plan upon or subsequent
to the Holder’s death. Each such beneficiary designation shall serve to revoke all prior beneficiary designations, be in a
form prescribed by the Company and be effective solely when filed by the Holder in writing with the Company during the
Holder’s lifetime. In the absence of any such written beneficiary designation, for purposes of the Plan, a Holder’s
beneficiary shall be the Holder’s estate.

 

17.7 Rule
16b-3. It is intended that the Plan and any Award made to a person subject to Section 16 of the Exchange Act shall meet all of
the requirements of Rule 16b- 3. If any provision of the Plan or of any such Award would disqualify the Plan or such Award under, or
would otherwise not comply with the requirements of, Rule 16b-3, such provision or Award shall be construed or deemed to have been
amended as necessary to conform to the requirements of Rule 16b-3.

 

17.8 Clawback
Policy. All Awards (including on a retroactive basis) granted under the Plan are subject to the terms of any Company forfeiture,
incentive compensation recoupment, clawback or similar policy as it may be in effect from time to time, as well as any similar
provisions of applicable laws, as well as any other policy of the Company that may apply to the Awards, such as anti-hedging or
pledging policies, as they may be in effect from time to time. In particular, these policies and/or provisions shall include,
without limitation, (i) any Company policy established to comply with applicable laws (including, without limitation, Section 304 of
the Sarbanes-Oxley Act and Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act), and/or (ii) the rules and
regulations of the applicable securities exchange or inter-dealer quotation system on which the Shares or other securities are
listed or quoted, and these requirements shall be deemed incorporated by reference into all outstanding Award Agreements.

 

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17.9 No
Obligation to Notify or Minimize Taxes. The Company shall have no duty or obligation to any Holder to advise such Holder as to the
time or manner of exercising any Award. Furthermore, the Company shall have no duty or obligation to warn or otherwise advise such Holder
of a pending termination or expiration of an Award or a possible period in which the Award may not be exercised. The Company has no duty
or obligation to minimize the tax consequences of an Award to any person.

 

 17.10 Section 409A of the Code.

 

(a) Notwithstanding
any provision of this Plan to the contrary, all Awards made under this Plan are intended to be exempt from or, in the alternative, comply
with Section 409A of the Code and the authoritative guidance thereunder, including the exceptions for stock rights and short-term deferrals.
The Plan shall be construed and interpreted in accordance with such intent. Each payment under an Award shall be treated as a separate
payment for purposes of Section 409A of the Code.

 

(b) If
a Holder is a “specified employee” (as such term is defined for purposes of Section 409A of the Code) at the time of his termination
of service, no amount that is nonqualified deferred compensation subject to Section 409A of the Code and that becomes payable by reason
of such termination of service shall be paid to the Holder (or in the event of the Holder’s death, the Holder’s representative
or estate) before the earlier of (x) the first business day after the date that is six months following the date of the Holder’s
termination of service, and (y) within 30 days following the date of the Holder’s death. For purposes of Section 409A of the Code,
a termination of service shall be deemed to occur only if it is a “separation from service” within the meaning of Section
409A of the Code, and references in the Plan and any Award Agreement to “termination of service” or similar terms shall mean
a “separation from service.” If any Award is or becomes subject to Section 409A of the Code, unless the applicable Award Agreement
provides otherwise, such Award shall be payable upon the Holder’s “separation from service” within the meaning of Section
409A of the Code. If any Award is or becomes subject to Section 409A of the Code and if payment of such Award would be accelerated or
otherwise triggered under a Change of Control, then the definition of Change of Control shall be deemed modified, only to the extent necessary
to avoid the imposition of any additional tax under Section 409A of the Code, to mean a “change in control event” as such
term is defined for purposes of Section 409A of the Code.

 

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(c) Any
adjustments made pursuant to Article XV to Awards that are subject to Section 409A of the Code shall be made in compliance with the
requirements of Section 409A of the Code, and any adjustments made pursuant to Article XV to Awards that are not subject to Section
409A of the Code shall be made in such a manner as to ensure that after such adjustment, the Awards either (x) continue not to be
subject to Section 409A of the Code or (y) comply with the requirements of Section 409A of the Code.

 

17.11 Indemnification.
Each person who is or shall have been a member of the Committee or of the Board shall be, in the absence of fraud, willful default or
willful neglect, indemnified and held harmless by the Company against and from any loss, cost, liability, or expense that may be imposed
upon or reasonably incurred thereby in connection with or resulting from any claim, action, suit, or proceeding to which such person may
be made a party or may be involved by reason of any action taken or failure to act under the Plan and against and from any and all amounts
paid thereby in settlement thereof, with the Company’s approval, or paid thereby in satisfaction of any judgment in any such action,
suit, or proceeding against such person; provided, however, that such person shall give the Company an opportunity, at its
own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing
right of indemnification shall not be exclusive and shall be independent of any other rights of indemnification to which such persons
may be entitled under the Company’s memorandum and articles of association, by contract, as a matter of law, or otherwise.

 

17.12 Other
Benefit Plans. No Award, payment or amount received hereunder shall be taken into account in computing an Employee’s salary
or compensation for the purposes of determining any benefits under any pension, retirement, life insurance or other benefit plan of the
Company or any Affiliate, unless such other plan specifically provides for the inclusion of such Award, payment or amount received. Nothing
in the Plan shall be construed to limit the right of the Company to establish other plans or to pay compensation to its employees, in
cash or property, in a manner which is not expressly authorized under the Plan.

 

17.13 Limits
of Liability. Any liability of the Company with respect to an Award shall be based solely upon the contractual obligations created
under the Plan and the Award Agreement. None of the Company, any member of the Board nor any member of the Committee shall have any liability
to any party for any action taken or not taken, in good faith, in connection with or under the Plan.

 

17.14 Governing
Law. Except as otherwise provided herein, the Plan shall be governed by and construed in accordance with the internal laws of the
State of Delaware applicable to contracts made and performed wholly within the State of Delaware, without giving effect to the conflict
of law provisions thereof.

 

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17.15 Subplans.
The Board may from time to time establish one or more sub- plans under the Plan for purposes of satisfying applicable blue sky,
securities or tax laws of various jurisdictions. The Board shall establish such sub-plans by adopting supplements to the Plan
setting forth (i) such limitations on the Committee’s discretion under the Plan as the Board deems necessary or desirable and
(ii) such additional terms and conditions not otherwise inconsistent with the Plan as the Board shall deem necessary or desirable.
All supplements adopted by the Board shall be deemed to be part of the Plan, but each supplement shall apply only to Holders within
the affected jurisdiction and the Company shall not be required to provide copies of any supplement to Holders in any jurisdiction
that is not affected.

 

17.16 Notification
of Election Under Section 83(b) of the Code. If any Holder, in connection with the acquisition of Stock under an Award, makes the
election permitted under Section 83(b) of the Code, if applicable, the Holder shall notify the Company of the election within ten days
of filing notice of the election with the Internal Revenue Service.

 

17.17 Paperless
Administration. If the Company establishes, for itself or using the services of a third party, an automated system for the documentation,
granting or exercise of Awards, such as a system using an internet website or interactive voice response, then the paperless documentation,
granting or exercise of Awards by a Holder may be permitted through the use of such an automated system.

 

17.18 Broker-Assisted
Sales. In the event of a broker-assisted sale of Stock in connection with the payment of amounts owed by a Holder under or with
respect to the Plan or Awards: (a) any Stock to be sold through the broker-assisted sale will be sold on the day the payment first
becomes due, or as soon thereafter as practicable; (b) the Stock may be sold as part of a block trade with other Holders in the Plan
in which all participants receive an average price; (c) the applicable Holder will be responsible for all broker’s fees and
other costs of sale, and by accepting an Award, each Holder agrees to indemnify and hold the Company harmless from any losses,
costs, damages, or expenses relating to any such sale; (d) to the extent the Company or its designee receives proceeds of the sale
that exceed the amount owed, the Company will pay the excess in cash to the applicable Holder as soon as reasonably practicable; (e)
the Company and its designees are under no obligation to arrange for the sale at any particular price; and (f) if the proceeds of
the sale are insufficient to satisfy the Holder’s applicable obligation, the Holder may be required to pay immediately upon
demand to the Company or its designee an amount in cash sufficient to satisfy any remaining portion of the Holder’s
obligation.

 

    26

     

    

 

17.19 Data
Privacy. As a condition for receiving any Award, each Holder explicitly and unambiguously consents to the collection, use and
transfer, in electronic or other form, of personal data as described in this Section 17.19 by and among the Company and its
subsidiaries and Affiliates exclusively for implementing, administering and managing the Holder’s participation in the Plan.
The Company and its subsidiaries and Affiliates may hold certain personal information about a Holder, including the Holder’s
name, address and telephone number; birthdate; social security, insurance number or other identification number; salary;
nationality; job title(s); any Stock held in the Company or its subsidiaries and Affiliates; and Award details, to implement, manage
and administer the Plan and Awards (the “Data”). The Company and its subsidiaries and Affiliates may transfer the
Data amongst themselves as necessary to implement, administer and manage a Holder’s participation in the Plan, and the Company
and its subsidiaries and Affiliates may transfer the Data to third parties assisting the Company with Plan implementation,
administration and management. These recipients may be located in the Holder’s country, or elsewhere, and the Holder’s
country may have different data privacy laws and protections than the recipients’ country. By accepting an Award, each Holder
authorizes the recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, to implement,
administer and manage the Holder’s participation in the Plan, including any required Data transfer to a broker or other third
party with whom the Company or the Holder may elect to deposit any Stock. The Data related to a Holder will be held only as long as
necessary to implement, administer, and manage the Holder’s participation in the Plan. A Holder may, at any time, view the
Data that the Company holds regarding the Holder, request additional information about the storage and processing of the Data
regarding the Holder, recommend any necessary corrections to the Data regarding the Holder or refuse or withdraw the consents in
this Section 17.19 in writing, without cost, by contacting the local human resources representative. The Company may cancel
Holder’s ability to participate in the Plan and, in the Committee’s discretion, the Holder may forfeit any outstanding
Awards if the Holder refuses or withdraws the consents in this Section 17.19.

 

17.20 Severability
of Provisions. If any provision of the Plan is held invalid or unenforceable, such invalidity or unenforceability shall not affect
any other provision of the Plan, and the Plan shall be construed and enforced as if such invalid or unenforceable provision had not been
included in the Plan.

 

17.21 No
Funding. The Plan shall be unfunded. The Company shall not be required to establish any special or separate fund or to make any other
segregation of funds or assets to ensure the payment of any Award. Prior to receipt of Shares or a cash distribution pursuant to the terms
of an Award, such Award shall represent an unfunded unsecured contractual obligation of the Company and the Holder shall have no greater
claim to the Shares underlying such Award or any other assets of the Company or Affiliate than any other unsecured general creditor.

 

17.22 Headings.
Headings used throughout the Plan are for convenience only and shall not be given legal significance.

 

 

27

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