Document:

Exhibit 10.15

 

LOAN AGREEMENT

 

Date: August 22, 2016

 

For value received, the undersigned
Traqer Corp. (the "Borrower"), at 930 Sylvan Avenue, Englewood Cliffs, NJ 07632, promises to pay to the order of Shlomit
C. Frommer (the "Lender") , at
119 North Livingston Avenue, Livingston NJ 07039 (or at such other place as the Lender may designate in writing), the sum of $6,500.00
with no interest.

 

The loan was disbursed as follows:

		·	$6,500 on 8/22/2016

 

I. TERMS OF REPAYMENT

 

A. Payments

 

Unpaid principal after the Due
Date shown below shall accrue interest at a rate of 3.5% annually until paid.

 

The unpaid principal shall be payable
in full on December 01, 2018 (the "Due Date").

 

B. Application of Payments

 

All payments on this Note shall be applied first
in payment of accrued interest and any remainder in payment of principal.

 

C.
Acceleration of Debt

 

If any payment obligation under this Note is
not paid when due, the remaining unpaid principal balance and any accrued interest shall become due immediately at the option of
the Lender.

 

II. PREPAYMENT

 

The Borrower reserves the right to prepay this
Note (in whole or in part) prior to the Due Date with no prepayment penalty.

 

III. COLLECTION COSTS

 

If any payment obligation under
this Note is not paid when due, the Borrower promises to
pay all costs of collection, including reasonable attorney
fees, whether or not a lawsuit is commenced as part of
the collection process.

 

IV. DEFAULT

 

If any of the following events
of default occur, this Note and any other obligations of
the Borrower to the Lender, shall become due immediately, without demand or notice:

 

1) the failure of the Borrower to
pay the principal and any accrued interest when due;

 

2) the liquidation, dissolution,
incompetency or death of the Borrower;

 

3) the filing of bankruptcy proceedings
involving the Borrower as a debtor;

 

4) the application for the appointment
of a receiver for the Borrower;

 

     

     

    

 

5) the making of a general assignment
for the benefit of the Borrower's creditors;

 

6) the insolvency of the Borrower;

  

7) a misrepresentation by the Borrower
to the Lender for the purpose of obtaining or extending credit; or

 

8) the sale of a material portion
of the business or assets of the Borrower.

 

V. SEVERABILITY OF PROVISIONS

 

If
any one or more of the provisions of this Note are determined
to be unenforceable,
in whole or in part, for any
reason, the remaining provisions shall remain fully operative.

 

VI. MISCELLANEOUS

 

All payments of principal and interest
on this Note shall be paid in the legal currency of the
United States. The Borrower waives presentment for payment,
protest, and notice of protest and demand of this Note.

 

No delay in enforcing any right
of the Lender under this Note, or assignment by Lender
of this Note, or failure to accelerate the debt evidenced
hereby by reason of
default in the payment of a monthly installment or the acceptance
of a past-due installment shall be construed as a waiver of the right of Lender to thereafter
insist upon strict compliance with the terms of this Note without notice being given to Borrower. All rights of the Lender under
this Note are cumulative and may be exercised concurrently or consecutively at the Lender's option.

 

This note may not be amended without
the written approval of the holder.

 

VII. GOVERNING LAW

 

This Note shall be construed in
accordance with the laws of the State of Nevada.

 

VIII. SIGNATURES

 

This Note shall
be signed by

 

 

Bess A. Lipschutz, on behalf of Traqer Corp.:  

 

		Date: 8/22/2016

 

 

Shlomit C. Frommer:

 

		Date: 8/22/2016Exhibit 10.1

 

SECOND
AMENDMENT TO COMMERCIAL LEASE AGREEMENT

 

This
Second Amendment to the Commercial Lease Agreement (the “SECOND AMENDMENT”) is made this 1st day of September,
2016, (the “EFFECTIVE” DATE) by and between Zoned Properties, Inc., C3C3 Group, LLC. and Alan Abrams, Individually
as Personal Guarantor.

 

WITNESSETH:

 

WHEREAS,
Landlord and Tenant heretofore entered into a Commercial Lease Agreement (the “LEASE”) executed and effective
as of August 15, 2015 for the lease on the facilities commonly known as 410 S. Madison Dr. Suite 1, Tempe Arizona 85281; and

 

WHEREAS,
The Landlord has invested capital into the property for expansion of the facilities for use by the Tenant, including by not
limited to an expansion of utilities and an expansion of cultivation space; and

 

WHEREAS,
The parties hereto desire to change the rental rate of the monthly rental payment and the size of the operating premises to
reflect the expanded facilities; and

 

WHEREAS,
all defined terms used in the Lease shall have the same meaning herein as therein.

 

NOW,
THEREFORE, in consideration of the mutual covenants herein contained, and for good and valuable consideration, the sufficiency
and receipt of which is acknowledged, the Parties agree to the following amendments to the language of the Lease:

 

		1.	2.01
                                         Premises: The Premises shall be amended as per the Premises description attached
                                         as an updated “Amended Exhibit C” to the original Lease Agreement.
	 	 	 
		2.	5.01
                                         Base Rent: The Base Rent shall be amended as per the Rental Schedule attached as
                                         an updated “Amended Exhibit B” to the original Lease Agreement.

 

[Signature
Page to Follow]

 

    	 	1	 

     

    

 

Your
signature below will indicate that you agree to the terms and conditions as set forth herein dated September 01, 2016:

 

	Zoned Properties, Inc.	 	C3C3 Group, LLC.
	 	 	 	 	 
	By:	/s/ Bryan McLaren	 	By:	/s/ Christopher Carra
	Name:	Bryan McLaren	 	Name:	Christopher Carra
	Title:	CEO	 	Title:	President
	 	 	 	 	 
	Alan Abrams, Individually,	 	 	 
	 	 	 	 	 
	By:	/s/ Alan Abrams	 	 	 
	Name:	Alan Abrams	 	 	 
	Title:	Personal Guarantor	 	 	 

  

    	 	2	 

     

    

 

AMENDED
EXHIBIT B: Rental Payment Schedule

 

	Year	 	Months	 	Start Date	 	Monthly Payment	 	 	Annual

Rental Rate	 	 	Base

Rental Rate	 	 	Rentable Area 	 
	1	 	01-12	 	8/1/15	 	$	13,500.00	 	 	$	162,000.00	 	 	$	32.40	 	 	 	5,000	 
	2	 	13-18	 	8/1/16	 	$	13,500.00	 	 	$	162,000.00	 	 	$	10.80	 	 	 	15,000	 
	2	 	19-24	 	2/1/17	 	$	25,500.00	 	 	$	306,000.00	 	 	$	20.40	 	 	 	15,000	 
	3	 	25-36	 	8/1/17	 	$	49,500.00	 	 	$	594,000.00	 	 	$	29.70	 	 	 	20,000	 
	4	 	37-48	 	8/1/18	 	$	52,500.00	 	 	$	630,000.00	 	 	$	31.50	 	 	 	20,000	 
	5	 	49-60	 	8/1/19	 	$	55,125.00	 	 	$	661,500.00	 	 	$	33.08	 	 	 	20,000	 
	6	 	61-72	 	8/1/20	 	$	57,881.25	 	 	$	694,575.00	 	 	$	34.73	 	 	 	20,000	 
	7	 	73-84	 	8/1/21	 	$	60,775.31	 	 	$	729,303.75	 	 	$	36.47	 	 	 	20,000	 
	8	 	85-96	 	8/1/22	 	$	63,814.08	 	 	$	765,768.94	 	 	$	38.29	 	 	 	20,000	 
	9	 	97-108	 	8/1/23	 	$	67,004.78	 	 	$	804,057.38	 	 	$	40.20	 	 	 	20,000	 
	10	 	109-120	 	8/1/24	 	$	67,004.78	 	 	$	804,057.38	 	 	$	40.20	 	 	 	20,000	 
	11	 	121-132	 	8/1/25	 	$	67,004.78	 	 	$	804,057.38	 	 	$	40.20	 	 	 	20,000	 
	12	 	133-144	 	8/1/26	 	$	67,004.78	 	 	$	804,057.38	 	 	$	40.20	 	 	 	20,000	 
	13	 	145-156	 	8/1/27	 	$	67,004.78	 	 	$	804,057.38	 	 	$	40.20	 	 	 	20,000	 
	14	 	157-168	 	8/1/28	 	$	67,004.78	 	 	$	804,057.38	 	 	$	40.20	 	 	 	20,000	 
	15	 	169-180	 	8/1/29	 	$	67,004.78	 	 	$	804,057.38	 	 	$	40.20	 	 	 	20,000	 
	16	 	181-192	 	8/1/30	 	$	67,004.78	 	 	$	804,057.38	 	 	$	40.20	 	 	 	20,000	 
	17	 	193-204	 	8/1/31	 	$	67,004.78	 	 	$	804,057.38	 	 	$	40.20	 	 	 	20,000	 
	18	 	205-216	 	8/1/32	 	$	67,004.78	 	 	$	804,057.38	 	 	$	40.20	 	 	 	20,000	 
	19	 	217-228	 	8/1/33	 	$	67,004.78	 	 	$	804,057.38	 	 	$	40.20	 	 	 	20,000	 
	20	 	229-240	 	8/1/34	 	$	67,004.78	 	 	$	804,057.38	 	 	$	40.20	 	 	 	20,000	 

 

*Annual
Rental Rate escalates at 5% per annum through year 10

 

     

     

    

 

AMENDED
EXHIBIT C: PROPERTY SITE AND LEGAL DESCRIPTION

 

	Parcel ID:	124-39-038
	 	 
	Property Address:	410 S. Madison Dr. Suite #1
	 	Tempe, AZ 85281
	 	 
	Building and Premises:	Tempe Cultivation Site; approximately 15,000 square feet of completed warehouse located in eastern side of the building. The Authority to Operate (ATO) for the Cultivation Site will be held by CJK, Inc.Exhibit 4.3

 

BLONDER TONGUE LABORATORIES, INC.

2016 EMPLOYEE EQUITY INCENTIVE PLAN

 

ARTICLE
1

PURPOSE

 

1.1           GENERAL.
The purpose of this Blonder Tongue Laboratories, Inc. 2016 Employee Equity Incentive Plan (the “Plan”) is
to promote the success and enhance the value of Blonder Tongue Laboratories, Inc. (the “Company”) by linking
the personal interests of key employees of the Company and its subsidiaries to those of Company stockholders and by providing such
individuals with an incentive for outstanding performance in order to generate superior returns to stockholders of the Company.
The Plan is further intended to provide flexibility to the Company in its ability to motivate, attract, and retain the services
of key employees upon whose judgment, interest, and special effort the successful conduct of the Company’s operation is largely
dependent. For purposes of this Plan, “Company” shall be deemed to include direct and indirect subsidiaries of Blonder
Tongue Laboratories, Inc., unless the context requires otherwise.

 

ARTICLE
2

EFFECTIVE DATE AND TERM

 

2.1           EFFECTIVE
DATE. The Plan, as hereby amended and restated, will be effective as of February 4, 2016 (the “Effective Date”).

 

2.2           TERM.
Unless sooner terminated by the Board, the Plan shall terminate on the tenth (10th) anniversary of the Effective
Date, and no Awards may be granted under the Plan thereafter. The termination of the Plan shall not affect any Award that is outstanding
on the termination date, without the consent of the Participant.

 

ARTICLE
3

DEFINITIONS AND CONSTRUCTION

 

3.1           DEFINITIONS.
When a word or phrase appears in this Plan with the initial letter capitalized, and the word or phrase does not commence a
sentence, the word or phrase shall generally be given the meaning ascribed to it in this Section or in Sections 1.1 or 2.1 unless
a clearly different meaning is required by the context. The following words and phrases shall have the following meanings:

 

(a)          “Award”
means any Option, Stock Appreciation Right, Restricted Stock Award, Unrestricted Stock Award, or Performance-Based Award granted
to a Participant under the Plan.

 

(b)          “Award
Agreement” means a writing, in such form as the Committee in its discretion shall prescribe, evidencing an Award.

 

(c)          “Board”
means the Board of Directors of Blonder Tongue Laboratories, Inc.

 

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

 

(e)          “Committee”
means the committee of the Board described in Article 4.

 

(f)          “Covered
Employee” means an Employee who is a “covered employee” within the meaning of Section 162(m) of the Code.

 

(g)          “Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the regulations promulgated thereunder.

 

(h)          “Fair
Market Value” means, with respect to a share of Stock as of any given date, (i) if the Stock is traded on the over-the-counter
market, the mean average of the bid and the asked prices for the Stock at the close of trading on that date, or if that day is
not a trading day on the trading day immediately preceding such day; (ii) if the Stock is listed on a national securities exchange,
the mean average of the high and low selling prices of the Stock on the composite tape on that date, or if that day in not a trading
day on the trading day immediately preceding such given date; and (iii) if the Stock is neither traded on the over-the-counter
market nor listed on a national securities exchange, such value as the Committee, in good faith, shall determine.

 

(i)          “Incentive
Stock Option” means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision
thereto.

 

(j)          “Non-Employee
Director” means a member of the Board who qualifies as a “Non-Employee Director” as defined in Rule 16b-3(b)(3)
under the Exchange Act, or any successor definition adopted by the Board.

 

     

     

    

 

(k)         “Non-Qualified
Stock Option” means an Option that is not intended to be an Incentive Stock Option.

 

(l)          “Option”
means a right granted to a Participant under Article 7 of the Plan to purchase Stock at a specified price during specified time
periods. An Option may be either an Incentive Stock Option or a Non-Qualified Stock Option.

 

(m)          “Participant”
means a person who has been granted an Award under the Plan.

 

(n)          “Performance-Based
Awards” means Stock Awards granted to selected Covered Employees pursuant to Article 9, but which are subject to the
terms and conditions set forth in Article 10. All Performance-Based Awards are intended to qualify as “performance-based
compensation” under Section 162(m) of the Code.

 

(o)          “Performance
Criteria” means the criteria that the Committee selects for purposes of establishing the Performance Goal or Performance
Goals for a Participant for a Performance Period. The Performance Criteria that will be used to establish Performance Goals may
include, but shall not be limited to, one or more of the following: pre- or after-tax net earnings, sales growth, operating earnings,
operating cash flow, working capital, return on net assets, return on stockholders’ equity, return on assets, return on capital,
Stock price growth, stockholder returns, gross or net profit margin, earnings per share, price per share of Stock, and market share,
any of which may be measured either in absolute terms or as compared to any incremental increase or as compared to results of a
peer group. The Committee shall, within the time prescribed by Section 162(m) of the Code, define in an objective fashion the manner
of calculating the Performance Criteria it selects to use for such Performance Period for such Participant.

 

(p)          “Performance
Goals” means, for a Performance Period, the goals established in writing by the Committee for the Performance Period
based upon the Performance Criteria. Depending on the Performance Criteria used to establish such Performance Goals, the Performance
Goals may be expressed in terms of overall Company performance or the performance of a division, business unit, or an individual.
The Committee, in its discretion, may, within the time prescribed by Section 162(m) of the Code, adjust or modify the calculation
of Performance Goals for such Performance Period in order to prevent the dilution or enlargement of the rights of Participants
(i) in the event of, or in anticipation of, any unusual or extraordinary corporate item, transaction, event, or development, or
(ii) in recognition of, or in anticipation of, any other unusual or nonrecurring events affecting the Company, or the financial
statements of the Company, or in response to, or in anticipation of, changes in applicable laws, regulations, accounting principles,
or business conditions.

 

(q)          “Performance
Period” means the one or more periods of time, which may be of varying and overlapping durations, as the Committee may
select, over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant’s
right to, and the payment of, a Performance-Based Award.

 

(r)          “Plan”
means the Blonder Tongue Laboratories, Inc. 2005 Employee Equity Incentive Plan as set forth herein.

 

(s)          “Restricted
Stock Award” means Stock granted to a Participant under Article 9 that is subject to certain restrictions and to risk
of forfeiture.

 

(t)          “Stock”
means the common stock of Blonder Tongue Laboratories, Inc. and such other securities that may be substituted for Stock pursuant
to Article 12.

 

(u)          “Stock
Appreciation Right” or “SAR” means a right granted to a Participant under Article 8 to receive a payment
equal to the difference between the Fair Market Value of a share of Stock as of the date of exercise of the SAR over the grant
price of the SAR, all as determined pursuant to Article 8.

 

(v)         “Stock
Award” means a Restricted Stock Award or an Unrestricted Stock Award.

 

(w)          “Unrestricted
Stock Award” means Stock granted to a Participant under Article 9 that is not subject to restrictions or a risk of forfeiture.

 

ARTICLE
4

ADMINISTRATION

 

4.1           COMMITTEE;
BOARD APPROVAL. The Plan shall be administered by a Committee appointed by, and which serves at the discretion of, the
Board. The Board may designate the Compensation Committee of the Board as the “Committee” hereunder provided the Compensation
Committee meets the requirements of this Section. Notwithstanding any other provision of the Plan, at all times the Committee shall
consist of at least two individuals and each member of the Committee shall qualify as a Non-Employee Director. To the extent necessary
or desirable (as may be determined by the Board from time to time) each member of the Committee shall also qualify as an “outside
director” under Code Section 162(m) and the regulations issued thereunder. The members of the Committee shall meet such additional
criteria, as may be necessary or desirable to comply with regulatory or stock exchange rules or exemptions. The Company will pay
all reasonable expenses of the Committee.

 

    	 	- 2 -	 

     

    

 

4.2           AUTHORITY
OF COMMITTEE. Subject to any specific designation in the Plan, the Committee has the exclusive power, authority and discretion
to:

 

(a)          Designate
Participants to receive Awards;

 

(b)          Determine
the type or types of Awards to be granted to each Participant;

 

(c)          Determine
the number of Awards to be granted and the number of shares of Stock to which an Award will relate;

 

(d)          Determine
the terms and conditions of any Award granted under the Plan including but not limited to, the exercise price, grant price, or
purchase price, any restrictions or limitations on the Award, any schedule for lapse of forfeiture restrictions or restrictions
on the exercisability of an Award, and accelerations or waivers thereof, based in each case on such considerations as the Committee
in its sole discretion determines;

 

(e)          Amend,
modify, or terminate any outstanding Award (including re-pricing), with the Participant’s consent unless the Committee has
the authority to amend, modify, or terminate an Award without the Participant’s consent under any other provision of the
Plan.

 

(f)          Determine
whether, to what extent, and under what circumstances an Award may be settled in, or the exercise price of an Award may be paid
in, cash, Stock, other Awards, or other property, or an Award may be canceled, forfeited, or surrendered;

 

(g)          Prescribe
the form of each Award Agreement which need not be identical for each Participant;

 

(h)          Decide
all other matters that must be determined in connection with an Award;

 

(i)          Establish,
adopt, revise, amend or rescind any guidelines, rules and regulations as it may deem necessary or advisable to administer the Plan;
and

 

(j)          Interpret
the terms of, and rule on any matter arising under, the Plan or any Award Agreement;

 

(k)          Make
all other decisions and determinations that may be required under the Plan or as the Committee deems necessary or advisable to
administer the Plan, including but not limited to, the determination of whether and to what extent any Performance Goals have been
achieved; and

 

(l)          Retain
counsel, accountants and other consultants to aid in exercising its powers and carrying out its duties under the Plan.

 

4.3           DECISIONS
BINDING. The Committee’s interpretation of the Plan, any Awards granted under the Plan, any Award Agreement and all
decisions and determinations by the Committee with respect to the Plan shall be final, binding, and conclusive on all parties and
any other persons claiming an interest in any Award or under the Plan.

 

ARTICLE
5

SHARES SUBJECT TO THE PLAN

 

5.1           NUMBER
OF SHARES. One million (1,000,000) shares of Stock shall be available for Awards on and after the Effective Date; provided,
however, each Award shall be conditioned upon the approval of the Plan by the stockholders of the Company. The number of shares
set forth in this Section 5.1 shall be subject to adjustment as provided in Section 12.1.

 

5.2           LAPSED
AWARDS. To the extent that an Award terminates, is cancelled, expires, lapses or is forfeited for any reason, including,
but not limited to, the failure to achieve any Performance Goals, any shares of Stock subject to the Award will again be available
for the grant of an Award under the Plan.

 

5.3           STOCK
DISTRIBUTED. Any Stock distributed pursuant to an Award may consist, in whole or in part, of authorized and unissued Stock,
treasury Stock or Stock purchased on the open market.

 

5.4           LIMITATION
ON NUMBER OF SHARES SUBJECT TO AWARDS. Notwithstanding any provision in the Plan to the contrary, and subject to the adjustment
in Section 12.1, the maximum number of shares of Stock with respect to Options and Stock Appreciation Rights that may be granted
to any one Participant during a fiscal year of the Company shall be One Hundred Thousand (100,000) shares.

 

    	 	- 3 -	 

     

    

 

ARTICLE
6

ELIGIBILITY AND PARTICIPATION

 

6.1           ELIGIBILITY.
Persons eligible to participate in this Plan include all executive officers and other key employees of the Company, as determined
by the Committee.

 

6.2           ACTUAL
PARTICIPATION. Subject to the provisions of the Plan, the Committee may, from time to time, select from among all eligible
individuals those to whom Awards shall be granted and shall determine the nature and amount of each Award. No individual shall
have any right to be granted an Award under this Plan.

 

ARTICLE
7

STOCK OPTIONS

 

7.1           GENERAL.
The Committee is authorized to grant Options to Participants on the following terms and conditions:

 

(a)          EXERCISE
PRICE. The exercise price per share of Stock under an Option shall be not less than the Fair Market Value as of the date of grant.

 

(b)          TERM
OF OPTION. No Option shall be exercisable after the date that is ten years from the date it is granted.

 

(c)          TIME
AND CONDITIONS OF EXERCISE. Except as provided herein, the Committee shall determine the time or times at which an Option may be
exercised in whole or in part. The Committee shall also determine the performance or other conditions, if any, that must be satisfied
before all or part of an Option may be exercised.

 

(d)          PAYMENT.
An Option shall be exercised by giving a written notice to the Company stating the number of shares of Stock with respect to which
the Option is being exercised and containing such other information as the Committee may require and by tendering payment therefore
with a cashier’s check or certified check. In addition, if the Award Agreement with respect to an Option so provides, or
upon exercise of discretion by the Committee in accordance with the terms of the Award Agreement, the Participant may pay the exercise
price by (i) to the extent permitted by applicable law, delivering the Participant’s note payable to the Company over such
period of time, at such rate of interest and in form and substance satisfactory to the Committee, (ii) transferring shares of Stock
previously acquired by the Participant, (iii) directing the Company to withhold that number of shares of Stock acquired upon exercise
having an aggregate Fair Market Value as of the date of exercise equal to the Option’s exercise price, or the applicable
portion of the Option’s exercise price if the Option is not exercised in full, (iv) an open market broker-assisted sale transaction
pursuant to which the Company is promptly delivered the amount of proceeds necessary to satisfy the exercise price, (v) a combination
of the methods described above, or (vi) such other method as may be approved by the Committee and set forth in the Award Agreement.

 

(e)          EVIDENCE
OF GRANT. All Options shall be evidenced by an Award Agreement. The Award Agreement shall include such additional provisions as
may be specified by the Committee.

 

7.2           INCENTIVE
STOCK OPTIONS. The terms of any Incentive Stock Options granted under the Plan must comply with the following additional
rules, which in case of conflict shall control over other provisions of this Plan that might otherwise be applicable:

 

(a)          EXERCISE.
In no event may any Incentive Stock Option be exercisable for more than ten years from the date of its grant.

 

(b)          INDIVIDUAL
DOLLAR LIMITATION. The aggregate Fair Market Value (determined as of the time an Award is made) of all shares of Stock with respect
to which Incentive Stock Options are first exercisable by a Participant in any calendar year may not exceed $100,000.00 or such
other limitation as imposed by Section 422(d) of the Code, or any successor provision. To the extent that Incentive Stock Options
are first exercisable by a Participant in excess of such limitation, the excess shall be considered Non-Qualified Stock Options.

 

(c)          TEN
PERCENT OWNERS. An Incentive Stock Option may be granted to any individual who, at the date of grant, owns stock possessing more
than ten percent of the total combined voting power of all classes of Stock of the Company only if such Option is granted at a
price that is not less than 110% of Fair Market Value on the date of grant and the Option is exercisable for no more than five
years from the date of grant.

 

(d)          RIGHT
TO EXERCISE. During a Participant’s lifetime, an Incentive Stock Option may be exercised only by the Participant.

 

    	 	- 4 -	 

     

    

 

ARTICLE
8

STOCK APPRECIATION RIGHTS

 

8.1           GRANT
OF SARS. The Committee is authorized to grant SARs to Participants on the following terms and conditions:

 

(a)          RIGHT
TO PAYMENT. Upon the exercise of a Stock Appreciation Right, the Participant to whom it is granted has the right to receive the
excess, if any, of:

 

(1)         The
Fair Market Value of a share of Stock on the date of exercise; over

 

(2)         The
grant price of the Stock Appreciation Right as determined by the Committee, which shall not be less than the Fair Market Value
of a share of Stock on the date of grant.

 

(b)          OTHER
TERMS. All such Awards shall be evidenced by an Award Agreement. The terms, methods of exercise, methods of settlement, form of
consideration payable in settlement, and any other terms and conditions of any Stock Appreciation Right shall be determined by
the Committee at the time of the grant of the Award and shall be reflected in the Award Agreement, except that in all events a
Stock Appreciation Right granted in tandem with an Incentive Stock Option shall be exercisable only when the underlying Incentive
Stock Option may be exercised. For purposes of the Plan, a Stock Appreciation Right shall be considered to be granted in tandem
with an Incentive Stock Option if the exercise of one results in an automatic forfeiture of the other, or if the exercise of one
results in the automatic exercise of the other.

 

ARTICLE
9

STOCK AWARDS

 

9.1           GRANT
OF STOCK. The Committee is authorized to grant Unrestricted Stock Awards and Restricted Stock Awards to Participants in
such amounts and subject to such terms and conditions as determined by the Committee. All such Awards shall be evidenced by an
Award Agreement.

 

9.2           ISSUANCE
AND RESTRICTIONS. An Unrestricted Stock Award may provide for a transfer of shares of Stock to a Participant at the time
the Award is granted, or it may provide for a deferred transfer of shares of Stock subject to conditions prescribed by the Committee.
Restricted Stock Awards shall be subject to such restrictions on transferability and risks of forfeiture as the Committee may impose.
These restrictions and risks may lapse separately or in combination at such times, under such circumstances, in such installments,
or otherwise, as the Committee determines at the time of the grant of the Award or thereafter.

 

9.3           FORFEITURE.
Except as otherwise determined by the Committee at the time of the grant of the Award or thereafter, upon termination of employment
during the applicable restriction period, Stock subject to a Restricted Stock Award that is at that time subject to restrictions
shall be forfeited, provided, however, that the Committee may provide in any Restricted Stock Award that restrictions or forfeiture
conditions relating to the Stock will be waived in whole or in part in the event of terminations resulting from specified causes,
and the Committee may in other cases waive in whole or in part restrictions or forfeiture conditions relating to the Stock.

 

9.4           CERTIFICATES
FOR RESTRICTED STOCK. Restricted Stock Awards granted under the Plan may be evidenced in such manner as the Committee shall
determine. If certificates representing shares of Stock subject to Restricted Stock Awards are registered in the name of the Participant,
certificates must bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such shares, and
the Company may, at its discretion, retain physical possession of the certificate until such time as all applicable restrictions
lapse.

 

ARTICLE
10

PERFORMANCE-BASED AWARDS

 

10.1         PURPOSE.
The purpose of this Article 10 is to provide the Committee the ability to qualify the Awards under Article 9 as “performance-based
compensation” under Section 162(m) of the Code. If the Committee, in its discretion, decides to grant a Performance-Based
Award to a Covered Employee, the provisions of this Article 10 shall control over any contrary provision contained in Article 9.

 

10.2         APPLICABILITY.
This Article 10 shall apply only to those Covered Employees selected by the Committee to receive Performance-Based Awards.
The Committee may, in its discretion, grant Awards other than Performance-Based Awards to Covered Employees that do not satisfy
the requirements of this Article 10. The designation of a Covered Employee as a Participant for a Performance Period shall not
in any manner entitle the Participant to receive an Award for the period. Moreover, designation of a Covered Employee as a Participant
for a particular Performance Period shall not require designation of such Covered Employee as a Participant in any subsequent Performance
Period and designation of one Covered Employee as a Participant shall not require designation of any other Covered Employees as
a Participant in such period or in any other period.

 

    	 	- 5 -	 

     

    

 

10.3         DISCRETION
OF COMMITTEE WITH RESPECT TO PERFORMANCE AWARDS. With regard to a particular Performance Period, the Committee shall
have full discretion to select the length of such Performance Period, the type of Performance-Based Awards to be issued, the kind
and/or level of the Performance Goal, and whether the Performance Goal is to apply to the Company or any division or business unit
thereof or to particular Participants or other individuals.

 

10.4         PAYMENT
OF PERFORMANCE-BASED AWARDS. Unless otherwise provided in the relevant Award Agreement, a Participant must be employed
by the Company on the last day of the Performance Period to be eligible for a Performance-Based Award for such Performance Period.
In determining the actual size of an individual Performance-Based Award, the Committee may reduce or eliminate the amount of the
Performance-Based Award earned for the Performance Period, if in its sole and absolute discretion, such reduction or elimination
is appropriate.

 

10.5         STOCKHOLDER
APPROVAL. The Board shall disclose to the stockholders of the Company the material terms of any Performance-Based Award,
and shall secure approval of the stockholders of the Performance-Based Award before any Stock or cash is transferred or paid to
a Participant, or before any restrictions with respect to same lapse, pursuant to the Award. The Committee shall certify that the
Performance Goals with respect to any Performance-Based Award have been achieved before any Stock or cash is transferred or paid
to a Participant, or before any restrictions with respect to same lapse. Such disclosure, approval and certification shall be effected
in accordance with the requirements of Section 162(m)(4)(C) of the Code.

 

ARTICLE
11

PROVISIONS APPLICABLE TO ALL AWARDS

 

11.1         STAND-ALONE
AND TANDEM AWARDS. Awards granted under the Plan may, in the discretion of the Committee, be granted either alone, in addition
to, or in tandem with, any other Award granted under the Plan. Awards granted in addition to or in tandem with other Awards may
be granted either at the same time as or at a different time from the grant of such other Awards.

 

11.2         EXCHANGE
PROVISIONS. The Committee may at any time offer to exchange or buy out any previously granted Award for a payment in cash,
Stock, or another Award, based on the terms and conditions the Committee determines and communicates to the Participant at the
time the offer is made.

 

11.3         TERM
OF AWARD. The term of each Award shall be for the period as determined by the Committee, provided that in no event shall
the term of any Incentive Stock Option or a Stock Appreciation Right granted in tandem with an Incentive Stock Option exceed a
period of ten years from the date of its grant.

 

11.4         LIMITS
ON TRANSFER. No right or interest of a Participant in any Award may be pledged, encumbered, or hypothecated to or in favor
of any party other than the Company, or shall be subject to any lien, obligation, or liability of such Participant to any other
party other than the Company; provided, however, that the foregoing shall not be deemed to imply any obligation of the Company
to lend against or accept a lien or pledge of any Award for any reason. No Award shall be assignable or transferable by a Participant
other than by will or the laws of descent and distribution, except that the Committee, in its discretion, may permit a Participant
to make a gratuitous transfer of an Award that is not an Incentive Stock Option or a Stock Appreciation Right granted in tandem
with an Incentive Stock Option to his or her spouse, lineal descendants, lineal ascendants, or a duly established trust for the
benefit of one or more of these individuals. Awards so transferred may thereafter be transferred only to the Participant who originally
received the Award or to an individual or trust to whom the Participant could have initially transferred the Award pursuant to
this Section 11.4.

 

11.5         BENEFICIARIES.
Notwithstanding Section 11.4, a Participant may, if and to the extent, and in such manner as may be determined by the Committee
from time to time, designate a beneficiary to exercise the rights of the Participant and to receive any distribution with respect
to any Award upon the Participant’s death. A beneficiary, legal guardian, legal representative, or other person claiming
any rights under the Plan is subject to all terms and conditions of the Plan and any Award applicable to the Participant, except
to the extent the Plan and Award otherwise provide, and to any additional restrictions deemed necessary or appropriate by the Committee.
If no beneficiary has been designated or survives the Participant, payment shall be made to the Participant’s estate. Subject
to the foregoing, if a Participant is entitled to designate a beneficiary, a beneficiary designation may be changed or revoked
by a Participant at any time in accordance with any procedures or conditions established by the Committee from time to time, provided
the change or revocation is filed with the Committee.

 

    	 	- 6 -	 

     

    

 

11.6         STOCK
CERTIFICATES. Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any
certificates evidencing shares of Stock pursuant to the exercise or vesting of any Awards, as the case may be, unless and until
the Committee has determined, with advice of counsel, that the issuance and delivery of such certificates is in compliance with
all applicable laws, regulations of governmental authorities and, if applicable, the requirements of any exchange on which the
shares of Stock are listed or traded as well as the terms of this Plan and any other terms, conditions or restrictions that may
be applicable. All Stock certificates delivered under the Plan are subject to any stop-transfer orders and other restrictions as
the Committee deems necessary or advisable to comply with Federal, state, or foreign jurisdiction, securities or other laws, rules
and regulations and the rules of any national securities exchange or automated quotation system on which the Stock is listed, quoted,
or traded. The Committee may place legends on any Stock certificate to reference restrictions applicable to the Stock. In addition
to the terms and conditions provided herein, the Committee may require that a Participant make such reasonable covenants, agreements,
and representations as the Committee, in its discretion, deems advisable in order to comply with any such laws, regulations, or
requirements.

 

11.7         COMPLIANCE
WITH SECTION 409A. The terms of all Awards granted under the Plan shall comply with the requirements of Section 409A of
the Code, to the extent subject to Section 409A.

 

11.8         ClawbackS. 
 Notwithstanding anything to the contrary under the Plan, any Award and any Stock or other consideration granted pursuant
to any Award under the Plan shall be subject to the Company’s ability to recoup or recover any such Award, Stock or other
consideration previously granted pursuant to (i) any compensation recovery or recoupment policy (i.e., clawback policy) to be adopted
by the Company from time to time in the future (regardless of whether adopted pursuant to Section 954 of the Dodd-Frank Wall Street
Reform and Consumer Protection Act or otherwise), or (ii) any other applicable law, regulation or stock exchange rule, including
without limitation, Section 304 of the Sarbanes-Oxley Act of 2002.   

 

ARTICLE
12

CHANGES IN CAPITAL STRUCTURE

 

12.1         GENERAL.

 

(a)          SHARES
AVAILABLE FOR GRANT. In the event of any change in the number of shares of Stock outstanding by reason of any stock dividend or
split, recapitalization, merger, consolidation, combination or exchange of shares or similar corporate change, the maximum aggregate
number of shares of Stock with respect to which the Committee may grant Awards shall be appropriately adjusted. In the event of
any change in the number of shares of Stock outstanding by reason of any other event or transaction, the Committee may, but need
not, make such adjustments in the number and class of shares of Stock with respect to which Awards may be granted as the Committee
may deem appropriate.

 

(b)          OUTSTANDING
AWARDS - INCREASE OR DECREASE IN ISSUED SHARES WITHOUT CONSIDERATION. Subject to any required action by the stockholders of
the Company, in the event of any increase or decrease in the number of issued shares of Stock resulting from a subdivision or
consolidation of shares of Stock or the payment of a stock dividend (but only on the shares of Stock), or any other increase
or decrease in the number of such shares effected without receipt or payment of consideration by the Company, the Committee
shall proportionally adjust the number of shares of Stock subject to each outstanding Award and the exercise price per share
of Stock of each such Award.

 

(c)          OUTSTANDING
AWARDS - CERTAIN MERGERS. Subject to any required action by the stockholders of the Company, in the event that the Company shall
be the surviving corporation in any merger or consolidation (except a merger or consolidation as a result of which the holders
of shares of Stock receive securities of another corporation), each Award outstanding on the date of such merger or consolidation
shall pertain to and apply to the securities which a holder of the number of shares of Stock subject to such Award would have received
in such merger or consolidation.

 

(d)          OUTSTANDING
AWARDS - CERTAIN OTHER TRANSACTIONS. In the event of (1) a dissolution or liquidation of the Company, (ii) a sale of all or substantially
all of the Company’s assets, (iii) a merger or consolidation involving the Company in which the Company is not the surviving
corporation or (iv) a merger or consolidation involving the Company in which the Company is the surviving corporation but the holders
of shares of Stock receive securities of another corporation and/or other property, including cash, the Committee shall, in its
absolute discretion, have the power to cancel, effective immediately prior to the occurrence of such event, each Award outstanding
immediately prior to such event (whether or not then exercisable), and, in full consideration of such cancellation, pay to the
Participant to whom such Award was granted an amount in cash, for each share of Stock subject to such Award, respectively, equal
to the excess of (A) the value, as determined by the Committee in its absolute discretion, of the property (including cash) received
by the holder of a share of Stock as a result of such event over (B) the exercise price (if any) of such Award.

 

    	 	- 7 -	 

     

    

 

(e)          OUTSTANDING
AWARDS - OTHER CHANGES. In the event of any other change in the capitalization of the Company or corporate change other than those
specifically referred to in this Article, the Committee may, in its absolute discretion, make such adjustments in the number and
class of shares subject to Awards outstanding on the date on which such change occurs and in the per share exercise price of each
Award as the Committee may consider appropriate to prevent dilution or enlargement of rights.

 

(f)          NO
ADDITIONAL STOCKHOLDER APPROVAL REQUIRED IN CERTAIN CASES. Except to the extent required by applicable law or stock exchange rule,
no adjustment in the number of shares subject to outstanding Awards, and no adjustment in the number of shares available for grant
under this Plan, shall require additional stockholder approval, and all such future adjustments shall be deemed approved by the
approval of this Plan, to the extent that such adjustment, whether automatic or discretionary, is proportional to and accompanies
an equivalent adjustment in the number of shares held by the Company’s stockholders.

 

(g)          NO
OTHER RIGHTS. Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision or consolidation
of shares of stock of any class, the payment of any dividend, any increase or decrease in the number of shares of stock of any
class or any dissolution, liquidation, merger, or consolidation of the Company or any other corporation. Except as expressly provided
in the Plan, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any
class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number of shares of Stock subject to
an Award or the exercise price of any Award.

 

ARTICLE
13

AMENDMENT, MODIFICATION, AND TERMINATION

 

13.1         AMENDMENT,
MODIFICATION, AND TERMINATION. At any time and from time to time, the Board may terminate, amend or modify the Plan; provided,
however, that the Board shall not, without the approval of stockholders, make any amendment which would (i) increase the maximum
number of shares of Stock for which Awards may be granted under the Plan, (ii) extend the term of the Plan, or (iii) amend the
requirements as to the employees eligible to receive Awards; and further provided that no other amendment shall be made without
stockholder approval to the extent stockholder approval is necessary to comply with any applicable law, regulations or stock exchange
rule.

 

13.2         AWARDS
PREVIOUSLY GRANTED. Except as otherwise provided in the Plan, including without limitation, the provisions of Section 11.8
and Article 12, no termination, amendment, or modification of the Plan shall adversely affect in any material way any Award previously
granted under the Plan, without the written consent of the Participant.

 

ARTICLE
14

GENERAL PROVISIONS

 

14.1         NO
RIGHTS TO AWARDS. No employee or other person shall have any claim to be granted any Award under the Plan, and neither
the Company nor the Committee is obligated to treat Participants, employees, and other persons uniformly.  

 

14.2         NO
STOCKHOLDERS RIGHTS. No Award gives the Participant any of the rights of a stockholder of the Company unless and until
shares of Stock are in fact issued to such person in connection with such Award. If stockholder approval of the Plan (or an amendment
to the Plan) is required by applicable law, regulation or stock exchange rule, Awards may be granted under the Plan prior to such
stockholder approval, provided these Awards are subject to the Company receiving the requisite stockholder approval and no shares
of Stock can be issued under these Awards (e.g., a Participant cannot exercise an Option) until after the requisite stockholder
approval has been obtained.

 

14.3         WITHHOLDING.
The Company shall have the authority and the right to deduct or withhold, or require a Participant to remit to the Company, an
amount sufficient to satisfy Federal, state, and local taxes (including the Participant’s FICA obligation) required by law
to be withheld with respect to any taxable event arising as a result of this Plan. A Participant may elect to have the Company
withhold from those shares of Stock that would otherwise be received upon the settlement of any Award, a number of shares having
a Fair Market Value equal to the minimum statutory amount necessary to satisfy the Company’s applicable federal, state, local
and foreign income and employment tax withholding obligations.

 

14.4         NO
RIGHT TO EMPLOYMENT. Nothing in the Plan or any Award Agreement shall interfere with or limit in any way the right of the
Company to terminate any Participant’s employment at any time, nor confer upon any Participant any right to continue in the
employ of the Company.

 

    	 	- 8 -	 

     

    

 

14.5         INDEMNIFICATION.
To the extent allowable under applicable law, each member of the Committee shall be indemnified and held harmless by the Company
from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by such member in connection with or
resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by
reason of any action or failure to act under the Plan and against and from any and all amounts paid by him or her in satisfaction
of judgment in such action, suit, or proceeding against him or her provided he or she gives 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 of any other rights of indemnification to which such persons may be entitled under
the Company’s Articles of Incorporation or Bylaws, as a matter of law, or otherwise, or any power that the Company may have
to indemnify them or hold them harmless.

 

14.6         FRACTIONAL
SHARES. No fractional shares of stock shall be issued and the Committee shall determine, in its discretion, whether cash
shall be given in lieu of fractional shares or whether such fractional shares shall be eliminated by rounding up or down as appropriate.

 

14.7         GOVERNMENT
AND OTHER REGULATIONS. The obligation of the Company to make payment of awards in Stock or otherwise shall be subject to
all applicable laws, rules, and regulations, and to such approvals by government agencies as may be required. The Company shall
be under no obligation to register under the Securities Act of 1933, as amended, any of the shares of Stock paid under the Plan.
If the shares paid under the Plan may in certain circumstances be exempt from registration under the Securities Act of 1933, as
amended, the Company may restrict the transfer of such shares in such manner as it deems advisable to ensure the availability of
any such exemption.

 

14.8         REPRICINGS.
Notwithstanding anything in the Plan to the contrary, the Committee may not reprice Options, nor may the Board amend the Plan to
permit repricing of Options, unless the stockholders of the Company provide prior approval for such repricing. The term “repricing”
shall have the meaning given that term in Section 303A(8) of the New York Stock Exchange Listed Company Manual, as in effect from
time to time.

 

14.9         GOVERNING
LAW. The Plan and the terms of all Awards shall be construed in accordance with and governed by the laws of the State of
New Jersey without regard to rules of choice of law or conflict of laws, except to the extent such laws may be pre-empted by the
federal laws of the United States of America.

 

    	 	- 9 -

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