Document:

Exhibit 10.3

 

DATED

 

------------

 

Deed of Indemnity

 

between

 

(1) BOUSTEAD WAVEFRONT INC.

 

and

 

(2) [        ]

 

     

     

    

 

CONTENTS

 

 

CLAUSE

 

	1.	Interpretation	2
	2.	Indemnity	4
	3.	Exclusions and limitations	5
	4.	Notification and conduct of claims	6
	5.	Payments	7
	6.	Subrogation	7
	7.	Assignment and other dealings	7
	8.	Entire agreement	7
	9.	Severance	8
	10.	Notices and demands	8
	11.	Variation and waiver	8
	12.	Counterparts	8
	13.	Third party rights	9
	14.	Governing law and jurisdiction	9

 

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This deed is dated [DATE]

 

Parties

 

		(1)	BOUSTEAD WAVEFRONT INC. incorporated and registered in the Cayman Islands with company number [NUMBER]
whose registered office is at 89 Nexus Way, Camana Bay, Grand Cayman, KY1-9009, Cayman Islands (“Company”);
and

 

		(2)	[     ] of [     ] (“Indemnitee”)

 

BACKGROUND

 

		(A)	The Indemnitee is an officer of the Company and a director of a fully owned subsidiary of the Company,
Boustead Wavefront Pte. Ltd. (“Singapore Subsidiary”), which is incorporated and registered in Singapore with company
number 201712959M whose registered office is at 1 George Street, #10-01 One George Street, Singapore 049145.

 

		(B)	By resolution of the Board on [DATE], the Company has agreed to indemnify the Indemnitee, to the extent
permitted by law, in relation to certain liabilities and expenses that they incur in connection with claims made by reason of their being
a director or officer of the Company and any of its Subsidiaries (including but not limited to the Singapore Subsidiary), and the Company
has thus agreed to enter into this deed of indemnity with the Indemnitee.

 

Agreed terms

 

		1.	Interpretation

 

The following definitions and rules
of interpretation apply in this deed.

 

		1.1	Definitions:

 

 Board: the board of directors of the Company, acting as such.

 

 Business Day: a day, other than a Saturday, Sunday or public holiday in the Cayman Islands or Singapore, when banks in Singapore and the Cayman Islands are open for business.

 

 Companies Act: the Companies Act 1967 of Singapore, as amended.

 

 Claim: any threatened, pending, current or completed action, suit, proceeding or alternative dispute resolution mechanism or any appeal therefrom, or any inquiry, investigation or inspection, whether brought by or in the right of the Company or any other party, whether civil, criminal, administrative, investigative or otherwise.

 

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 Exchange Act: the Securities Exchange Act of 1934 of the United States of America, as amended.

 

 Indemnification Event: any Claims in relation to which the Indemnitee was, is or becomes a party, witness or other participant, or is threatened to be made a party, witness or other participant by reason of (or arising in part out of) the fact that the Indemnitee is or was at any time a director, officer, employee, trustee or agent of the Company or any subsidiary of the Company, or is or was serving at the request of the Company as a director, officer, employee, trustee or agent of another company, corporation, participation, joint venture, trust, employee benefit plan or other enterprise, or by reason of anything done or not done by the Indemnitee in any such capacity, including but not limited to Claims under the Securities Act, the Exchange Act, or other federal, state or foreign statutory law or regulation, at common law or otherwise against or otherwise involving the Indemnitee in any such capacity arising out of or as a result of any offering (whether by public offer or private placement and whether or not involving a listing or quotation on any stock exchange) for subscription and/or purchase of any shares in the capital of the Company and/or American depositary shares representing shares in the capital of the Company or any offering of securities of the Company, or, in any such case, any subsidiary of the Company, and any prospectus, placing memorandum, advertisement, notice, circular or other document issued or filed in connection therewith and any agreement, contract or arrangement entered into in connection therewith.

 

 Liabilities: all liabilities, costs, charges, expenses, judgments, settlements, compensation and other awards, damages and losses (including any direct, indirect or consequential losses and all interest, penalties, fines, taxes and legal costs (calculated on a full indemnity basis) and all other reasonable professional costs and expenses).

 

 Misconduct: has the meaning given in clause 3.1(f).

 

 SEC: has the meaning given in clause 3.1(b).

 

 Securities Act: the Securities Act of 1933 of the United States of America, as amended.

 

 SIAC: has the meaning given in clause 14.3.

 

 SIAC Rules: has the meaning given in clause 14.3.

 

 Singapore Subsidiary: has the meaning given in recital (A).

 

 SMC: has the meaning given in clause 14.2.

 

 Subsidiary: has the meaning given in section 5 of the Companies Act.

 

		1.2	Clause headings shall not affect the interpretation of this deed.

 

		1.3	Unless the context otherwise requires, references to clauses are to the clauses of this deed.

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		1.4	Unless the context otherwise requires, words in the singular shall include the plural and in the plural
shall include the singular.

 

		1.5	Unless the context otherwise requires, a reference to one gender shall include a reference to the other
genders.

 

		1.6	A reference to writing or written includes fax and email (unless otherwise expressly provided
in this deed).

 

		1.7	Any words following the terms including, include, in particular, for example
or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase
or term preceding those terms.

 

		1.8	Other and otherwise are illustrative and shall not limit the sense of the words, description,
definition, phrase or term preceding them.

 

		2.	Indemnity

 

		2.1	Subject to the terms of this deed, the Company shall indemnify the Indemnitee, to the fullest extent permissible
by law, in respect of all Liabilities arising out of or in connection with the Indemnitee’s acts or omissions while in the course of acting
or purporting to act as a director or officer of the Company or its Subsidiaries or which otherwise arises by virtue of the Indemnitee
holding or having held such a position.

 

		2.2	References in clause 2.1 to acts or omissions are to acts or omissions made or omitted to be made before,
on or after the date of this deed, however if a company ceases to be a Subsidiary of the Company after the date of this deed, the Company
shall only be liable to indemnify the Indemnitee in respect of Liabilities in relation to that company which were incurred before the
date on which that company ceased to be a Subsidiary of the Company.

 

		2.3	The Indemnitee shall continue to be indemnified under clause 2.1, notwithstanding that the Indemnitee
may have ceased to be a director or officer of the Company or a Subsidiary.

 

		2.4	Any obligation on the part of the Company to make a payment to the Indemnitee pursuant to clause 2.1 is
conditional upon the Indemnitee having made an application in writing to the Company supported by the production of documentation which,
in the reasonable opinion of the Board, is satisfactory evidence that:

 

		(a)	the relevant Liability has been suffered or incurred by the Indemnitee and of the date(s) on which it
was suffered or incurred and that it falls within the scope of the indemnity set out in clause 2.1; and

 

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		(b)	any legal costs and expenses which are to be reimbursed pursuant to clause 2.1 were properly incurred
and are reasonable in amount.

 

		2.5	If the Board is satisfied that the conditions set out in clause 2.4 have been fulfilled, it shall make
payment to the Indemnitee within 28 days of the receipt of the evidence referred to in that clause.

 

		3.	Exclusions and limitations

 

		3.1	The indemnity in clause 2.1 shall not apply to:

 

		(a)	an Indemnification Event, except as provided in Clause 3(c), that was commenced or instituted by the Indemnitee
against the Company or any director or officer of the Company or any of its Subsidiaries without the prior approval of the board of directors
of the Company or of any of its Subsidiaries or any committee of any such board or any other persons to whom authority to grant such approval
may have been delegated by such board from time to time; or

 

		(b)	any Indemnification Event if such indemnification or advance payment of Expenses would cause the Company
to act in violation of applicable law (including section 172 of the Companies Act) or any undertaking appearing in and required by the
rules and regulations promulgated under the Securities Act or any registration statement filed with the Securities and Exchange Commission
(“SEC”) under the Securities Act; or

 

		(c)	any Indemnification Event for which final judgment or adjudication is rendered against Indemnitee for
an accounting, disgorgement or repayment of profits made from the purchase or sale by Indemnitee of securities of the Company against
Indemnitee, or in connection with a settlement by or on behalf of Indemnitee to the extent it is acknowledged by Indemnitee and the Company
that such amount paid in settlement resulted from Indemnitee’s conduct from which Indemnitee received monetary personal profit,
pursuant to the provisions of section 16(b) of the Exchange Act.

 

		(d)	any Liability relating to any taxation or national insurance payable by the Indemnitee in connection with
remuneration or other payments or benefits received from the Company or any of its Subsidiaries;

 

		(e)	any Indemnification Event, to the extent that the Indemnitee is entitled to recover from any other person
(including under any policy of insurance) any amount in relation to a Claim; or

 

		(f)	any Liability incurred by, or any Claim made against, the Indemnitee which the Board reasonably determines
arises out of, or is attributable to, the Indemnitee’s fraud, wilful default, wilful misconduct, reckless conduct, dishonesty, deliberate
criminal conduct or act of bad faith (“Misconduct”),
save that if a court, tribunal or regulatory authority thereafter finally determines that the relevant Liability or Claim did not arise
from, or was not attributable to, the Indemnitee’s Misconduct, the Indemnitee may, by notice to the Company, request payment of such amount
from the Company as the Company would have been liable to pay under this deed had the Board not made such a determination and the Company
shall, subject to the provisions of clause 2.4, pay such amount to the Indemnitee (without interest) within 28 days of the receipt of
the evidence referred to in that clause.

 

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		3.2	Without prejudice to any other claims of the Company to repayment (whether in unjust enrichment or otherwise),
in the event that the Company makes payment to the Indemnitee under this deed in respect of any Liability or Claim and it is subsequently
determined by a court, tribunal or regulatory authority that that Liability or Claim was for, arose out of or was attributable to the
Indemnitee’s Misconduct, the Indemnitee will immediately repay such payment to the Company.

 

		4.	Notification and conduct of claims

 

		4.1	If the Indemnitee receives any demand relating to any Indemnification Event or becomes aware of any circumstances
which might or may reasonably be expected to give rise to the Company being required to indemnify the Indemnitee under clause 2.1, the
Indemnitee shall:

 

		(a)	as soon as reasonably practicable, give written notice of the circumstances to the Company, as well as
any other information which the Company may reasonably request from time to time;

 

		(b)	take all reasonable action to mitigate any Liability suffered by the Indemnitee in respect of the circumstances
giving rise to the Claim;

 

		(c)	take all such action as the Company may reasonably request to avoid, dispute, resist, appeal or defend
any claim and shall not make any admission of liability, agreement or compromise with any person in relation to any Claim without the
prior written consent of the Company, such consent not to be unreasonably withheld;

 

		(d)	forward all documents received by the Indemnitee in respect of the Claim to the Company as soon as reasonably
practicable following receipt;

 

		(e)	assist the Company as it may reasonably require in resisting, defending or settling the Claim; and

 

		(f)	provide to the Company such information about the nature and amount of costs incurred by the Indemnitee
in respect of a Claim as the Company may reasonably request.

 

		4.2	Notwithstanding the provisions of clause 4.1, the Indemnitee shall not be required to provide any documents
or information to the Company where doing so would result in a loss of privilege in such documents or information or where the Indemnitee
is legally or contractually prevented from providing such documents or information.

 

		4.3	The Company or any of its Subsidiaries (as the case may be) will be entitled to take over, negotiate and
conduct in the Indemnitee’s name the defence or settlement of any Claim or to prosecute in the Indemnitee’s name for its own benefit any
proceedings relating to an Indemnification Event.

 

		4.4	If the Company or any of its Subsidiaries exercises its rights under clause 4.3, the Company shall:

 

		(a)	consult with the Indemnitee in relation to the conduct of the Claim or proceedings on aspects of the Claim
or proceedings materially relevant to the Indemnitee and keep the Indemnitee reasonably informed of material developments in the Claim
or proceedings, provided that the Company or its Subsidiary shall be under no obligation to provide any information the provision of which
is reasonably likely to adversely affect the Company’s or its Subsidiary’s ability to claim in respect of the relevant loss under any
applicable policy of insurance;

 

		(b)	take into account the Indemnitee’s reasonable requests related to the Claim or proceedings (including
any settlement) on issues which may be reasonably likely to result in material damage to the Indemnitee’s reputation; and

 

		(c)	have full discretion in the conduct or settlement of any Claim or proceedings relating to such Claim provided
the Indemnitee is not required to make any contribution to the settlement and the settlement contains no admission of liability by the
Indemnitee.

 

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		4.5	Any failure by the Indemnitee to comply with the provisions of this clause 4 shall not relieve the Company
of any obligations under this deed except to the extent that the Company is materially prejudiced thereby.

 

		5.	Payments

 

		5.1	The Company shall, in the event that a payment is made to the Indemnitee under this deed in respect of
a particular Liability, be entitled to recover from the Indemnitee an amount equal to any payment received by the Indemnitee under any
policy of insurance or from any other third party source to the extent that such payment relates to the Liability, or if the payment received
by the Indemnitee is greater than the payment made under this deed, a sum equal to the payment made under this deed. The Indemnitee shall
pay over such sum promptly on the Company’s request.

 

		5.2	Where Clause 5.1 applies, the Company shall pay such amount to the Indemnitee as shall after the payment
of any tax thereon leave the Indemnitee with sufficient funds to meet any Liability to which this deed applies. For the avoidance of doubt,
when calculating the amount of any such tax the amount of any tax deductions, credits or reliefs which are or may be available to the
Indemnitee in respect of the relevant payment under this deed received by the Indemnitee or any payment made by the Indemnitee to a third
party in respect of (or in or towards the discharge of) the relevant Liability, but no other deductions, credits, reliefs or payments,
is to be taken into account. In the event that any amount is paid to the Indemnitee under this deed but a tax deduction, credit or relief
is (or becomes) available to the Indemnitee in respect of the relevant payment under this deed, or in respect of any payment made by the
Indemnitee to a third party in respect of (or in or towards the discharge of) the relevant Liability, which was not taken into account
in calculating the amount payable in respect of the relevant payment under this deed, the Indemnitee shall promptly make a payment to
the Company of such an amount as is equal to the benefit of such deduction, credit or relief which was not taken into account.

 

		6.	Subrogation

 

		6.1	In the event that the Company makes any payment under this deed, the Company shall be subrogated to the
extent of such payment to all of the Indemnitee’s rights of recovery against third parties (including any claim under any applicable directors’
and officers’ insurance policy) in respect of the payment and the Indemnitee shall do everything that may be necessary to secure any such
rights including:

 

		(a)	the execution of any documents necessary to enable the Company effectively to bring an action in the name
of the Indemnitee; and

 

		(b)	the provision of assistance as a witness.

 

		7.	Assignment and other dealings

 

		7.1	The Company may at any time assign (or deal in any other manner with) any or all of its rights and obligations
under this deed. In the event of any such assignment by the Company, all references in this deed to the Company shall be deemed to include
its assigns.

 

		7.2	The Indemnitee shall not assign, transfer, mortgage, charge, subcontract, delegate, declare a trust over
or deal in any other manner with any of the Indemnitee’s rights and obligations under this deed.

 

		8.	Entire agreement

 

		8.1	This deed constitutes the entire agreement between the parties and supersedes and extinguishes all previous
agreements, promises, assurances, warranties, representations and understandings between them, whether written or oral, relating to its
subject matter.

 

		8.2	Each party agrees that it shall have no remedies in respect of any statement, representation, assurance
or warranty (whether made innocently or negligently) that is not set out in this deed. Each party agrees that it shall have no claim for
innocent or negligent misrepresentation or negligent misstatement based on any statement in this deed.

 

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		9.	Severance

 

		9.1	If any provision or part-provision of this deed is or becomes invalid, illegal or unenforceable, it shall
be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the
relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this
clause 9 shall not affect the validity and enforceability of the rest of this deed.

 

		9.2	If any provision or part-provision of this deed is invalid, illegal or unenforceable, the parties shall
negotiate in good faith to amend such provision so that, as amended, it is legal, valid and enforceable, and, to the greatest extent possible,
achieves the intended commercial result of the original provision.

 

		10.	Notices and demands

 

		10.1	Any notice or demand given to a party under or in connection with this deed shall be in writing and shall
be:

 

		(a)	delivered by hand or by pre-paid first-class post or other next working day delivery service at its registered
office (if a company) or the address given in this deed (in any other case) or as otherwise notified in writing to the other party; or

 

		(b)	sent by fax to its main fax number.

 

		10.2	Any notice or demand shall be deemed to have been received:

 

		(a)	if delivered by hand, on signature of a delivery receipt;

 

		(b)	if sent by pre-paid first-class post or other next working day delivery service, at 9.00 am on the second
Business Day after posting; or

 

		(c)	if sent by fax, at 9.00 am on the next Business Day after transmission.

 

		10.3	This clause does not apply to the service of any proceedings or other documents in any legal action or,
where applicable, any arbitration or other method of dispute resolution.

 

		11.	Variation and waiver

 

		11.1	No variation of this deed shall be effective unless it is in writing and signed by the parties (or their
authorised representatives).

 

		11.2	No failure or delay by a party to exercise any right or remedy provided under this deed or by law shall
constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict the further exercise of that or any other right
or remedy. No single or partial exercise of such right or remedy shall prevent or restrict the further exercise of that or any other right
or remedy.

 

		12.	Counterparts

 

		12.1	This deed may be executed in any number of counterparts, each of which when executed and delivered shall
constitute a duplicate original, but all the counterparts shall together constitute the one deed.

 

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		12.2	Transmission of the executed signature page of a counterpart of this deed by:

 

		(a)	fax; or

 

		(b)	email (in PDF, JPEG or other agreed format),

 

shall take effect as delivery of an
executed “wet-ink” counterpart of this deed. If either method of transmission is adopted, without prejudice to the validity
of the deed thus made, each party shall provide the others with the “wet-ink” hard copy original of their counterpart as soon
as reasonably possible thereafter.

 

		12.3	No counterpart shall be effective until each party has executed and delivered at least one counterpart.

 

		13.	Third party rights

 

		13.1	Unless it expressly states otherwise, this deed does not give rise to any rights under the Contracts (Rights
of Third Parties) Act 2001 to enforce any term of this deed.

 

		14.	Governing law and jurisdiction

 

		14.1	This deed and any dispute or claim (including non-contractual disputes or claims) arising out of or in
connection with it or its subject matter or formation shall be governed by and construed in accordance with the law of Singapore.

 

		14.2	Each party irrevocably agrees that any dispute arising out of or in connection with this deed must be
submitted for mediation at the Singapore Mediation Centre (“SMC”) in accordance with SMC’s Mediation Procedure in force
for the time being Either/any party may submit a request to mediate to SMC upon which the other party will be bound to participate in
the mediation within 45 days thereof. Every party to the mediation must be represented by senior executive personnel, with authority to
negotiate and settle the dispute. Unless otherwise agreed by the parties, the Mediator(s) will be appointed by SMC. The mediation will
take place in Singapore in the English language and the parties agree to be bound by any settlement agreement reached.

 

		14.3	In the event that the mediation as referred to in clause 14.2 does not lead to a binding settlement agreement
within six months of the commencement of SMC’s mediation process, each party irrevocably agrees that the dispute shall then be referred
to and finally solved by arbitration under the Singapore International Arbitration Centre (“SIAC”) in accordance with
the Arbitration Rules of the Singapore International Arbitration Centre (“SIAC Rules”) for the time being in force, which
rules are deemed to be incorporated by reference in this clause. The Tribunal shall consist of one arbitrator. The seat of arbitration
shall be Singapore. The language to be used in the arbitral proceedings shall be English.

 

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This document has been executed as a deed and
is delivered and takes effect on the date stated at the beginning of it.

 

COMPANY

 

	Executed as a deed by BOUSTEAD WAVEFRONT INC. acting by [NAME OF FIRST DIRECTOR], a director and [NAME OF SECOND DIRECTOR OR SECRETARY], [a director OR its secretary]	 	 
	 	 	 
	 	 	...............
	 	 	[SIGNATURE OF FIRST DIRECTOR]
	 	 	Director
	 	 	 
	 	 	...............
	 	 	[SIGNATURE OF SECOND DIRECTOR OR SECRETARY]
	 	 	[Director OR Secretary]
	 	 	 
	OR (if witness required)	 	 
	 	 	 
	Executed as a deed by BOUSTEAD WAVEFRONT INC. acting by [NAME OF DIRECTOR] a director, in the presence of:	 	 
	 	 	 
	...............	 	...............
	[SIGNATURE OF WITNESS]	 	[SIGNATURE OF DIRECTOR]
	[NAME, ADDRESS [AND OCCUPATION] OF WITNESS]	 	Director

 

INDEMNITEE

 

	Signed as a deed by [      ]	 	 
	in the presence of:	 	 
	 	 	 
	...............	 	...............
	[SIGNATURE OF WITNESS]	 	Indemnitee
	[NAME, ADDRESS [AND OCCUPATION] OF WITNESS]	 	 

 

 

10Exhibit 10.4

 

BOUSTEAD WAVEFRONT INC.

 

2022 OMNIBUS EQUITY INCENTIVE PLAN

 

Article
I

PURPOSE

 

The purpose of this 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.

 

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

 

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(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 15% of the total value of the Company on fully
diluted basis. 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 15% of total shares on a fully diluted basis immediately after the IPO.

 

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.

 

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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.

 

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.

 

    10

     

    

 

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

 

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.

 

    11

     

    

 

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.

 

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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,

 

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

 

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.

 

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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.

 

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.

 

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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.

 

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.

 

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(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.

 

(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.

 

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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.

 

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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