Document:

Exhibit

CHICAGO MERCANTILE EXCHANGE INC.
SENIOR MANAGEMENT SUPPLEMENTAL DEFERRED SAVINGS PLAN
(As Amended and Restated Effective January 1, 2017)
SECTION 1
 
General
1.1.    History, Purpose and Effective Date.  
(a)    The Chicago Mercantile Exchange Inc., a Delaware corporation (the “Exchange”), maintains the Chicago Mercantile Exchange Inc. Senior Management Supplemental Deferred Savings Plan (the “Plan”) to provide a select group of key management employees of the Exchange and participating affiliates (each, an “Employer”) with the opportunity to defer receipt of compensation and receive additional retirement income from the Employer.  The Plan is intended to constitute a plan maintained primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees within the meaning of Sections 201(2), 301(a)(3), and 401(a)(1) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).  
(b)    The Plan has been amended and restated, generally effective as of January 1, 2017 (the “Effective Date”), unless otherwise provided, as set forth herein.  
(c)    Notwithstanding anything herein to the contrary, the terms of the Plan as in effect prior to January 1, 2005, as modified and set forth in the document entitled “Chicago Mercantile Exchange Inc. Grandfathered Senior Management Supplemental Deferred Savings Plan” (the “Pre-2005 Plan”), shall apply to the portion (if any) of a Participant’s Account that was vested as of December 31, 2004, including credited earnings and losses with respect thereto (the “Grandfathered Account”), and the provisions of this amended and restated Plan shall not apply to such Grandfathered Account.
(d)    The Employers participating in the Plan as of the Effective Date are listed in Appendix A.
1.2.    Administration.  
(a)    The Retirement Committee (the “Retirement Committee”) appointed by the Compensation Committee (the “Compensation Committee”) of the Board of Directors of the Exchange is the Plan Administrator of the Plan.  If the Compensation Committee fails to act to appoint the members of the Retirement Committee, then the Compensation Committee will be deemed to be the Retirement Committee hereunder.  The Plan Administrator shall from time to time adopt rules for the administration of the Plan and shall have the sole discretion to make decisions and take any action with respect to questions arising in connection with the Plan, including, but not limited to, the construction and interpretation of the Plan, the resolution of any ambiguities, the determination of the conditions subject to which any benefits may be payable, the resolution of all questions concerning the status and rights of a Participant and others under the Plan, and whether a claimant is eligible for benefits under the Plan, the determination of the amount of benefits, if any, a claimant is entitled to receive, and making any other determinations 

which it believes necessary or advisable for the administration and operation of the Plan.  Any such decision or action shall be final and binding upon all Participants and beneficiaries, and benefits under the Plan shall be paid only if the Plan Administrator decides in its discretion that the claimant is entitled to them.  The Plan Administrator’s decision or action in respect of any of the above shall be conclusive and binding upon all Participants and their beneficiaries, heirs, assigns, administrators, executors and any other person claiming through or under them, subject to such individual’s rights to a review of the denial of any benefit claim under the claims procedure set forth in Section 1.11.
(b)    In providing for the administration of the Plan, the Plan Administrator may delegate responsibilities for the operation and administration of the Plan by written document filed with the Plan records.  Any such delegation may be revoked at any time.  The Secretary of the Exchange (or, on behalf of the Secretary of the Exchange, any Corporate Secretary or Assistant Secretary) shall certify to any interested person the names of the employees of the Exchange who are, from time to time, authorized to act on behalf of the Plan Administrator and who are responsible for the day-to-day operation and administration of the Plan.  The Plan Administrator may appoint and compensate such specialists to aid it in the administration of the Plan and arrange for such other services as it considers necessary or appropriate to carry out the provisions of the Plan.
1.3.    Plan Year.  The term “Plan Year” means the calendar year.
1.4.    Source of Benefit Payments.  Subject to the terms and conditions of the Plan, any amount payable to or on account of a Participant under this Plan shall be paid from the general assets of the Employer or from one or more trusts, the assets of which are subject to the claims of the Employer’s general creditors.  The amounts payable hereunder shall be reflected on the accounting records of the Employer but shall not be construed to create, or require the creation of, a trust, custodial or escrow account.  None of the individuals entitled to benefits under the Plan shall have any preferred claim on, or any beneficial ownership interest in, any assets of the Employer or to any investment reserves, accounts, trusts or funds that the Employer may purchase, establish or accumulate to aid in providing the benefits under the Plan, and any rights of such individuals under the Plan shall constitute unsecured contractual rights only.  Nothing contained in the Plan shall constitute a guarantee by the Employer that the assets of the Employer shall be sufficient to pay any benefits to any person.  Nothing contained in the Plan and no action taken pursuant to its provisions shall create a trust or fiduciary relationship of any kind between the Employer and an employee or any other person.
1.5.    Expenses.  The expenses of administering the Plan shall be borne by the Exchange.
1.6.    Effect on Other Benefit Plans.  Any amounts credited or paid under this Plan shall not be considered to be compensation for the purposes of any qualified plan (within the meaning of Section 401(a) of the Internal Revenue Code of 1986, as amended (the “Code”)) maintained by the Employer.  The treatment of such amounts under other employee benefit plans shall be in accordance with the provisions of such plans.
1.7.    Applicable Laws.  The Plan shall be construed and administered in accordance with the laws of the State of Illinois.

2

1.8.    Gender and Number.  Where the context admits, words in any gender shall include any other gender, words in the singular shall include the plural and the plural shall include the singular.
1.9.    Notices.  Any notice or document required to be given to or filed with the Plan Administrator will be properly filed if delivered or mailed by registered mail, postage prepaid, to the Secretary of the Exchange, at its principal executive offices.  The Plan Administrator may, by advance written notice to affected persons, revise such notice procedure from time to time.  Any notice required under the Plan may be waived by the person entitled to notice.
1.10.    Evidence.  Evidence required of anyone under the Plan may be by certificate, affidavit, document or other information which the person acting on it considers pertinent and reliable, and signed, made or presented by the proper party or parties.
1.11.    Claims Procedure.  
(a)    For purposes of the Plan, a claim for a benefit is a written application for a benefit filed with the Plan Administrator.  In the event that any Participant or other person claims to be entitled to a benefit under the Plan, and the Plan Administrator or its designee determines that such claim should be denied in whole or in part, the Plan Administrator or its designee shall, in writing, notify such claimant within 90 days (180 days if special circumstance require) of receipt of such claim that his claim has been denied.  The notice of denial will be written in a manner calculated to be understood by the average Participant and will include the following information:  (a) the specific reason for the denial; (b) specific reference to those Plan provisions on which the denial is based; (c) a description of any additional information necessary to perfect the claim and an explanation of why the information is necessary; and (d) a description of the Plan’s review procedures, the time limits applicable to those procedures, including a statement of the claimant’s right to bring a civil action under ERISA Section 502(a) following the denial of his claim on review.
(b)    If the Plan Administrator requests additional information from a claimant prior to an initial determination or a determination on appeal, the Plan Administrator will notify the claimant and permit the claimant to have 45 days to provide the requested information.  The time of the Plan Administrator’s decision will be tolled until the information is received or until the 45-day period has elapsed.  If the information is not timely received by the Plan Administrator, its decision will be made without the requested information.
(c)    Within 60 days after the mailing or delivery by the Plan Administrator or its designee of such notice, such claimant may request, by mailing or delivery of written notice to the Plan Administrator, a review by the Plan Administrator of the decision denying the claim.  The clamant may submit written comments, documents, records and other information relating to his claim, whether or not those comments, documents, records or other information were submitted in connection with the initial claim.  The claimant may also request that the Plan provide, free of charge, copies of all documents, records or other information relevant to his claim.
(d)    If the claimant fails to request such a review within such 60-day period, it shall be conclusively determined for all purposes of this Plan that the denial of such claim by the Plan Administrator is correct.

3

(e)    After such review, the Plan Administrator shall determine whether such denial of the claim was correct and shall notify such claimant in writing of its determination within 60 days of receipt of the claimant’s request for review (120 days if special circumstances require).  In the case of a claim denial on review, the notice will be written in a manner calculated to be understood by the average Participant and will include the following information:  (a) the specific reason or reasons for denial; (b) specific reference to those Plan provisions on which denial is based; (c) a statement that the claimant is entitled to receive, upon written request and free of charge, reasonable access to and copies of all documents, records and other information relevant to his claim for benefits; and (d) a statement of any voluntary appeal procedures offered by the Plan and the claimant’s right to obtain information about the procedures and to bring a civil action under ERISA Section 502(a).
SECTION 2
 
Participation
2.1.    Participant.  
(a)    Employees of the Employer are eligible to participate in the Plan (“Participants”) if they satisfy the eligibility criteria set forth in Section 3.2(a), 3.3(a), or 3.4(a); provided, however, that Participants shall be limited to a select group of management or highly compensated employees within the meaning of Sections 201(2), 301(a)(3), and 401(a)(1) of ERISA.  
(b)    If the Exchange determines that participation by one or more Participants shall cause the Plan to be subject to Part 2, 3 or 4 of Title I of ERISA, the entire interest of such Participant or Participants under the Plan shall be segregated from the Plan in the discretion of the Exchange, and such Participant or Participants shall cease to have any interest under the Plan.
2.2.    Plan Not Contract of Employment.  The Plan does not constitute a contract of employment, and participation in the Plan will not give any employee the right to be retained in the employ of the Employer nor any right or claim to any benefit under the Plan, unless such right or claim has specifically accrued under the terms of the Plan.
SECTION 3
 
Deferred Compensation; Plan Accounting
3.1.    Deferred Compensation Accounts.  The Plan Administrator shall maintain, or cause to be maintained, an Account in the name of each Participant consisting of the following subaccounts (as applicable):
(a)    a subaccount (the “Elective Deferral Account”) consisting of the base salary and/or bonus deferred by the Participant in accordance with Section 3.2, as adjusted in accordance with Section 3.5;

4

(b)    a subaccount (the “401(k) Make-Whole Account”) consisting of the 401(k) Savings Plan Make-Whole Credits credited to the Participant’s Account in accordance with Section 3.3, as adjusted in accordance with Section 3.5; and 
(c)    a subaccount (the “Cash Balance Make-Whole Account”) consisting of the Cash Balance Plan Make-Whole Credits credited to the Participant’s Account in accordance with Section 3.4, as adjusted in accordance with Section 3.5.
A Participant’s Account shall also be segregated according to the Plan Year to which credits to the Account relate (each such segregated portion of the Account is sometimes referred to herein as a “Plan Year Account”).  
The beginning balance of each Participant’s Plan Year Account on the Effective Date shall be the amount credited to such respective Plan Year Accounts under the Plan as in effect immediately prior to the Effective Date; provided, however, that the portion of the Participant’s Account consisting of the Participant’s Grandfathered Account shall be segregated and shall be subject to the provisions of the Pre-2005 Plan as provided under Section 1.1(c).
3.2.    Deferral Election.  
(a)    The provisions of this Section 3.2 shall apply with respect to a Plan Year only to Participants who (i) as of the October 1 immediately preceding the commencement of such Plan Year, are Eligible Executives, or (ii) become Eligible Executives before October 1 of the Plan Year.  As used in the Plan, an “Eligible Executive” means an employee of the Employer having a job level at or above Executive Director.
(b)    Subject to such terms, conditions, and limitations as the Plan Administrator may, from time to time, impose, a Participant may make an irrevocable election to defer receipt of base salary and/or bonus earned by him from the Employer in any Plan Year, by filing a deferral election in writing with the Plan Administrator at such time and in such manner as the Plan Administrator shall provide, but in no case later than the day preceding the first day of such Plan Year. Notwithstanding the preceding sentence, a Participant who first becomes an Eligible Executive  of the Employer before October 1 of a Plan Year may file a deferral election within 30 days of becoming eligible to participate in the deferral election feature of the Plan with respect to compensation earned by him during the portion of such Plan Year after such election is filed.  A Participant’s election under this Section 3.2(b) shall apply only to the Plan Year for which it is made and not for any subsequent Plan Year. 
(c)    The maximum percentage of base salary that may be deferred by a Participant for a Plan Year shall be 50%.  The maximum percentage of bonus that may be deferred by a Participant for a Plan Year shall be 100%.  
(d)    The Elective Deferral Account of each Participant shall be credited with the amount deferred by the Participant as of the date on which such compensation would otherwise have been paid to the Participant or such other date as the Plan Administrator may reasonably provide.

5

3.3.    401(k) Savings Plan Make-Whole Credits.  
(a)    The provisions of this Section 3.3 shall apply effective January 1, 2007 with respect to a Plan Year to a Participant who is an Eligible Executive at any time during such Plan Year.
(b)    Subject to such terms, conditions, and limitations as the Plan Administrator may from time to time impose, for each Plan Year the 401(k) Make-Whole Account of each Participant shall be credited with a “401(k) Savings Plan Make-Whole Credit.”  Such 401(k) Savings Plan Make-Whole Credit shall be credited to the Participant’s Account at such time or times as the Plan Administrator shall determine but no later than 21⁄2 months following the end of such Plan Year.
(c)    The 401(k) Savings Plan Make-Whole Credit shall be 3 percent of the greater of the following amounts:  (i) the amount, if any, by which the Participant’s base salary (excluding bonus, but before reduction by any portion of base salary deferred pursuant to Section 3.2) for such Plan Year exceeds the dollar limitation under Section 401(a)(17) of the Code for such Plan Year, or (ii) the portion, if any, of the Participant’s base salary deferred for such Plan Year pursuant to Section 3.2. 
3.4.    Cash Balance Plan Make-Whole Credits.  
(a)    The provisions of this Section 3.4 shall apply effective January 1, 2007 with respect to a Plan Year to a Participant who is an Eligible Executive at any time during such Plan Year; provided, however, that no Participant who is a “Grandfathered CBOT Participant” as defined in the Pension Plan for Employees of the Chicago Mercantile Exchange (the “Pension Plan”) shall be subject to this Section 3.4.
(b)    To the extent that the amount credited for any Plan Year to a Participant’s account under the Pension Plan is limited or reduced, either by reason of the limitation on compensation imposed by Section 401(a)(17) of the Code, or by reason of the Pension Plan’s exclusion from the compensation base used in determining accruals (“Pensionable Compensation”) of (x) elective deferrals under this Plan, (y) bonus award amounts under either the Amended and Restated CME Group Inc. Incentive Plan for Named Executive Officers or the Amended and Restated CME Group Inc. Annual Incentive Plan (the “Bonus Plans”) that would qualify as Pensionable Compensation but for the Participant’s election to receive such amounts in unrestricted shares of common stock of CME Group Inc. (“Company Stock”) rather than in cash, and (z) amounts includible in the Participant’s gross income under Section 83 of the Code upon the vesting of restricted shares of Company Stock  issued to the Participant as payment of a bonus award under the Bonus Plans, the Account of the Participant shall be credited with a “Cash Balance Plan Make-Whole Credit,” to be calculated in such manner and credited at such time or times as the Plan Administrator shall determine but no later than 21⁄2 months after the end of such Plan Year.  
3.5.    Adjustment of Accounts.  
(a)    Upon becoming a Participant, a Participant shall elect from among the assumed investments that the Plan Administrator offers from time to time those investments in which the Participant’s Account shall be deemed invested and the percentage of contributions to 

6

be allocated to each such assumed investment.  The Participant may change such allocation (with respect to either future credits to his or her Account or existing Account balances) by notification to the Plan Administrator in such manner as it shall direct, and the Plan Administrator shall implement such change in election as soon as practicable following receipt thereof.  In the event a Participant fails to provide such direction, the Participant’s Account shall be adjusted on the basis of such default investment as the Plan Administrator shall establish from time to time.  
(b)    The amounts credited to a Participant’s Account in accordance with Sections 3.2, 3.3 and 3.4 shall be adjusted from time to time in accordance with uniform procedures established by the Plan Administrator to reflect the value of an investment equal to the Participant’s Account balance in the assumed investments elected or deemed elected by the Participant to use for purposes of adjusting his Account.  Such amount shall be determined without regard to taxes that would be payable with respect to any such assumed investment.  The Plan Administrator may eliminate any assumed investment alternative at any time; provided, however, that the Plan Administrator may not retroactively eliminate any assumed investment alternative.  To the extent permitted by the Plan Administrator, the Participant may elect to have different portions of his Account balance for any period adjusted on the basis of different assumed investments.  
(c)    Notwithstanding the election by Participants of certain assumed investments and the adjustment of their Accounts based on such investment decisions, the Plan does not require, and no trust or other instrument maintained in connection with the Plan shall require, that any assets or amounts which are set aside in trust or otherwise for the purpose of paying Plan benefits shall actually be invested in the investment alternatives selected by Participants.
SECTION 4
 
Payment of Plan Benefits
4.1.    Vesting.  
(a)    Subject to Section 5.3, the portion of a Participant’s Account attributable to base salary or bonus deferred pursuant to Section 3.2 shall be fully vested and nonforfeitable at all times.
(b)    Vesting of the portion of a Participant’s Account attributable to 401(k) Savings Plan Make-Whole Credits credited under Section 3.3 shall be determined as follows:
(i)    The portion of a Participant’s Account attributable to 401(k) Savings Plan Make-Whole Credits credited for Plan Years beginning prior to January 1, 2007 shall be fully vested and nonforfeitable.
(ii)    The portion of a Participant’s Account attributable to 401(k) Savings Plan Make-Whole Credits credited under Section 3.3 for Plan Years beginning on or after January 1, 2007 shall be fully vested and nonforfeitable in the case of a Participant who was an employee of the Employer on December 31, 2006 and has been continuously employed by the Employer from that date until the date as of which the 401(k) Savings Plan Make-Whole Credit is credited.  

7

(iii)    Except as otherwise provided in Section 4.1(b)(ii), the vested portion of a Participant’s 401(k) Make-Whole Account credited with respect to Plan Years beginning on or after January 1, 2007 shall be based on his or her Years of Vesting Service (as defined in the Chicago Mercantile Exchange Inc. 401(k) Savings Plan), as determined in the following table:

	
		
	Years of Vesting Service
	Vested percentage

	Less than 2
	0%

	2
	20%

	3
	40%

	4
	60%

	5 or more
	100%

(iv)    In the event of a Participant’s termination of employment for any reason other than death before such Participant’s 401(k) Make-Whole Account is fully vested, the nonvested portion of his or her 401(k) Make-Whole Account shall be forfeited.
(c)    Vesting of the portion of a Participant’s Account attributable to Cash Balance Plan Make-Whole Credits credited under Section 3.4 shall be determined as follows:
(i)    The portion of a Participant’s Account attributable to Cash Balance Plan Make-Whole Credits credited for Plan Years beginning prior to January 1, 2007 shall be fully vested and nonforfeitable.
(ii)    The portion of a Participant’s Account attributable to Cash Balance Plan Make-Whole Credits credited for Plan Years beginning on or after January 1, 2007 shall be fully vested and nonforfeitable in the case of a Participant who was an employee of the Employer on December 31, 2006 and has been continuously employed by the Employer from that date until the date as of which the Cash Balance Plan Make-Whole Credit is credited.
(iii)    Except as otherwise provided by Section 4.1(c)(ii), the portion of a Participant’s Account attributable to Cash Balance Plan Make-Whole Credits credited for Plan Years beginning on or after January 1, 2007 shall become 100% vested and nonforfeitable upon the completion of three years of Eligibility Service (as defined in the Pension Plan) and shall be 0% vested prior to that time.  In the event of a Participant’s termination of employment for any reason other than death prior to the completion of three years of Eligibility Service, the portion of his or her Account to which this Section 4.1(c)(iii) applies shall be forfeited.
4.2.    Timing of Payment; Distribution Elections
(a)    Except as otherwise provided in this Section 4, the vested balance in each Plan Year Account of a Participant shall be paid in a lump sum on the first payroll date following the end of the Restricted Period.  For purposes hereof, the “Restricted Period” means the period commencing on the Participant’s separation from service and ending on the six-month anniversary of such separation from service or, if earlier, the date of the Participant’s death.  Notwithstanding the foregoing, in the event a Participant has made a valid distribution election with respect to a 

8

Plan Year Account in accordance with Section 4.2(b), (c) or (d), such Plan Year Account shall be distributed in accordance with such election (subject to the limitations of Section 4.2(e)).
(b)    With respect any Plan Year Account relating to a Plan Year before 2007 for which a Participant made a valid irrevocable distribution election between January 1, 2005 and September 30, 2006, pursuant to rules and procedures adopted by the Plan Administrator intended in good faith to comply with Section 409A of the Code and Internal Revenue Service guidance issued thereunder, the vested balance of such Plan Year Account shall be paid in accordance with such election.  Such election must specify (i) whether the Plan Year Account is to be paid in a lump sum or in substantially equal annual installments, in either case paid or commencing at the time of the Participant’s separation from service, and (ii) if installments are elected, the number of such installments (not to exceed five).  
(c)    With respect to any Plan Year Account relating to a Plan Year after 2006, a Participant may elect in such manner as the Plan Administrator may prescribe the time and manner in which the vested portion of such Plan Year Account shall be distributed.  Such election shall specify either (i) that payment is to be made (or is to commence) upon the Participant’s separation from service, or (ii) that payment is to be made (or is to commence) upon the earlier of the Participant’s separation from service or a specific date that is not earlier than two years after the first day of the Plan Year to which the Plan Year Account relates.  The election shall also specify whether the Plan Year Account is to be paid in a lump sum or in substantially equal annual installments, and if installments are elected, the number of such installments (not to exceed five) (a “form of payment election”).  In the case of a Participant who elects to have payment of his or her Plan Year Account be made (or commence) upon the earlier of the Participant’s separation from service or a fixed date in accordance with clause (ii) of this Section 4.2(c), the Participant may make a separate form of payment election for each such payment trigger.  A Participant’s Payment Election with respect to a Plan Year Account shall be made before the first day of the Plan Year to which such Plan Year Account relates or, in the case of a Participant who first becomes eligible for the Plan after January 1 and before October 1 of the Plan Year pursuant to Section 3.2, within the first 30 days of such eligibility.  Except as otherwise provided in this Section 4, a Participant’s Payment Election shall be irrevocable.
(d)    A Participant may elect to change the time and/or form of payment of his or her non-Grandfathered Account, if such election is filed in accordance with procedures established by the Plan Administrator, and: (i) such election shall not take effect until at least 12 months after the date on which the election is filed, (ii) the first payment with respect to which such election is made shall be deferred for a period of not less than 5 years from the date such payment would otherwise have been made, and (iii) any election related to a payment that was otherwise to be made at a specified time may not be made less than 12 months prior to the date of the first scheduled payment.  The election shall also specify the form of payment election applicable to such Plan Year Account in accordance with the options specified in Section 4.2(c).  In the case of a Participant who elected to have payment of his or her Plan Year Account be made (or commence) upon the earlier of the Participant’s separation from service or a fixed date in accordance with clause (ii) of Section 4.2(c), the Participant may make a separate re-deferral payment election for each such payment trigger.  
(e)    Notwithstanding any provision herein to the contrary, (i) with respect to any distribution triggered by the Participant’s separation from service, no portion of such Plan Year 

9

Account shall be paid until the first payroll date after the end of the Restricted Period, and (ii) the foregoing restriction shall not affect the timing of any installment payment after the first installment.  
4.3.    Unforeseeable Emergencies.  
(a)    In the event of a Participant’s Unforeseeable Emergency, such Participant may request an emergency withdrawal from his or her vested Account.  Any such request shall be subject to the approval of the Plan Administrator, which approval (a) shall only be granted to the extent reasonably needed to satisfy the need created by the Unforeseeable Emergency, and (b) shall not be granted to the extent that such need may be relieved (i) through reimbursement or compensation by insurance or otherwise or (ii) by liquidation of the Participant’s assets (to the extent the liquidation of such assets would not itself cause severe financial hardship).  
(b)    In the event of a Participant’s Unforeseeable Emergency on account of which the Participant receives a withdrawal pursuant to Section 4.3(a), the Participant’s Deferral Election shall be canceled.
(c)    An “Unforeseeable Emergency” means a severe financial hardship of the Participant or beneficiary resulting from an illness or accident of the Participant or his or her spouse or dependent (as defined in Section 152(a) of the Code), loss of the Participant’s property due to casualty (including the need to rebuild a home following damage to a home not otherwise covered by insurance), or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the Participant’s control.  Circumstances that may constitute an Unforeseeable Emergency include the imminent foreclosure of or eviction from the Participant’s primary residence; the need to pay for medical expenses, including non-refundable deductibles, as well as for the costs of prescription drug medication; and the need to pay for the funeral expenses of a spouse or a dependent (as defined in Section 152(a) of the Code). The purchase of a home and the payment of college tuition generally are not Unforeseeable Emergencies.  Whether the Participant is faced with an Unforeseeable Emergency permitting an emergency withdrawal shall be determined by the Plan Administrator in its sole discretion, based on the relevant facts and circumstances and applying regulations and other guidance under Section 409A of the Code.  
4.4.    Beneficiary Designation.  Each Participant may from time to time designate any legal or natural person or persons (who may be designated contingently or successively) to whom his benefits under the Plan are to be paid if he dies before he receives all of his vested benefits.  A beneficiary designation will be effective only if effected in such manner as the Plan Administrator shall prescribe from time to time, and only if the designation is delivered to the Plan Administrator while the Participant is alive, and will cancel all beneficiary designations with respect to the Plan filed earlier.  Except as otherwise specifically provided in this Section 4.4, if no valid beneficiary designation is in effect at the time of a Participant’s death, or if the designated beneficiary of a deceased Participant dies before him or before complete payment of the Participant’s benefits, his benefits shall be paid to the legal representative or representatives of the estate of the last to die of the Participant and his designated beneficiary.
4.5.    Distributions to Disabled Persons.  Notwithstanding the provisions of this Section 4, if, in the Plan Administrator’s opinion, a Participant or beneficiary is under a legal disability or is in any way incapacitated so as to be unable to manage his financial affairs, the Plan Administrator may direct that payment be made to a relative or friend of such person for his benefit until claim is made by a conservator or other person legally charged with the care of his person or his estate, 

10

and such payment shall be in lieu of any such payment to such Participant or beneficiary.  Thereafter, any benefits under the Plan to which such Participant or beneficiary is entitled shall be paid to such conservator or other person legally charged with the care of his person or his estate.
4.6.    Benefits May Not be Assigned.  Neither the Participant nor any other person shall have any voluntary or involuntary right to commute, sell, assign, pledge, anticipate, mortgage or otherwise encumber, transfer, hypothecate or convey in advance of actual receipt the amounts, if any, payable hereunder, or any part hereof, which are expressly declared to be unassignable and non-transferable. No part of the amounts payable shall be, prior to actual payment, subject to seizure or sequestration for payment of any debts, judgments, alimony or separate maintenance owed by the Participant or any other person, or be transferred by operation of law in the event of the Participant’s or any other person’s bankruptcy or insolvency.
4.7.    Withholding for Tax Liability.  The Exchange may withhold or cause to be withheld from any payment of benefits made pursuant to the Plan any taxes required to be withheld and such sum as the Exchange may reasonably estimate to be necessary to cover any taxes for which the Exchange may be liable and which may be assessed with regard to such payment.

SECTION 5
Miscellaneous
5.1.    Section 409A.  This Plan is intended to comply with the requirements of Section 409A of the Code and shall be interpreted in a manner consistent therewith.  Accordingly, notwithstanding any provisions of the Plan to the contrary:
(a)    The Plan shall be operated at all times in accordance with the requirements of Section 409A of the Code and, in the event of any inconsistency between any provision of the Plan and Section 409A, the provisions of Section 409A shall control.
(b)    Any provision in the Plan that is determined to violate the requirements of Section 409A of the Code shall be void and without effect.
(c)    Any provision required by Section 409A of the Code to appear in the Plan document that is not expressly set forth herein shall be deemed to be set forth herein, and the Plan shall be administered in all respects as if such provision was expressly set forth herein. 
5.2.    Limitation of Liability.  The Exchange, its parents, subsidiaries, and affiliates, the Board of Directors of any of the foregoing, any officer, employer or agent of any of the foregoing, and the members of the Retirement Committee shall not incur any liability individually or on behalf of any other individuals or on behalf of the Exchange or its parents, subsidiaries, or affiliates for any act, or failure to act, made in good faith in relation to the Plan.  
5.3.    Recoupment Forfeiture.  Notwithstanding anything to the contrary herein, if any bonus subject to a deferral election under Section 3.2 is determined to be subject to a recoupment provision of the Bonus Plans (as defined in Section 3.4) relating to restatement of the Company’s financial statements, or a similar provision of a plan pursuant to which such bonus is payable (a “Recoupment”), the portion of a Participant’s Account attributable to: (a) the amount of any such 

11

bonus that is subject to Recoupment, multiplied by (b) the Participant’s deferral percentage in effect with respect to such bonus, shall be forfeited.
SECTION 6
 
Amendment and Termination
6.1.    Amendment and Termination.  
(a)    The Exchange may amend or terminate the Plan at any time and from time to time, and retroactively if deemed necessary or appropriate.  
(b)    Any amendment of the Plan shall be effected either (i) by resolution of the Compensation Committee or its successor, or (ii) by resolution of the Retirement Committee; provided, however, that only the Compensation Committee or its successor is authorized to approve an amendment that is anticipated to result in a material impact to the Exchange unless it otherwise acts to delegate this responsibility; and provided further that the Retirement Committee may adopt minor or administrative amendments to the Plan, including amendments to comply with applicable laws.
(c)    A Plan termination shall be effected by resolution of the Compensation Committee or its successor.  In the event of a termination of the Plan, Participants’ vested Account balances shall be distributed in such manner as the Plan Administrator shall determine consistent with the requirements of Section 409A of the Code.
Dated this 20th day of March, 2017.

CHICAGO MERCANTILE EXCHANGE INC.

By/s/ Francie Sisul
Its Managing Director, Compensation & Benefits 

12

Appendix A

LIST OF PARTICIPATING EMPLOYERS
Chicago Mercantile Exchange Inc.
GFX Corporation
New York Mercantile Exchange, Inc.
CME Group Index Services LLC (see Supplement A)
Pivot, Inc.

13

SUPPLEMENT A
CERTAIN CGIS EMPLOYEES

Any eligible individual who was formerly employed by Dow Jones and Company, Inc. (“Dow Jones”) and who was offered and accepted employment with CME Group Index Services LLC (“CGIS”) as a result of the joint venture transaction between CME Group Inc. and Dow Jones shall be treated for eligibility and vesting service purposes as though his or her service with Dow Jones from his or her most recent date of hire with Dow Jones had been rendered as an employee of an Employer.

14

SUPPLEMENT B
FROZEN NYMEX ACCOUNTS
Applicability of this Supplement B
The provisions of this Supplement B apply to, and supersede any conflicting provisions of the core plan document (the “Core Plan”) with respect to, the Accounts (“Frozen NYMEX Accounts”) that were transferred to the Plan from the former New York Mercantile Exchange Deferred Compensation Plan for Key Employees (the “NYMEX Plan”) as a result of the merger of the NYMEX Plan into the Plan.  Except as otherwise provided in this Supplement B, Frozen NYMEX Accounts shall be subject to the provisions of the Core Plan.  Section references in this Supplement B are to the Core Plan except as otherwise specified.
A.    Adjustment of Accounts.
		
	1.
	The deemed investment of each Frozen NYMEX Account as of the Transfer Date shall correspond to the deemed investment of such account immediately before the Transfer Date, as determined by applying the investment mapping rule adopted by the Plan Administrator.  The “Transfer Date” is the date on which the assets from the NYMEX Plan’s rabbi trust are transferred to the rabbi trust for this Plan.

		
	2.
	In all other respects the Frozen NYMEX Accounts shall be subject to the provisions of Section 3.5.

B.    Payment of Plan Benefits
		
	1.
	Frozen NYMEX Accounts shall be subject to Sections 4.3 through 4.7 of the Core Plan, but, except as provided below, shall not be subject to Section 4.1 or 4.2. 

2.    All Frozen NYMEX Accounts shall be 100% vested.
		
	3.
	Payment of a Participant’s Frozen NYMEX Account shall be made, or shall commence, on the first day of the month that next follows the six-month anniversary of the Participant’s separation from service (the “Distribution Commencement Date”).  Payment shall be made in a lump sum unless the election previously made by the Participant under the NYMEX Plan specified an installment payout, in which event payment shall be made in annual installments payable on the Distribution Commencement Date and anniversaries thereof.  

		
	4.
	No changes to a Participant’s distribution election shall be permitted; provided, however, that a Participant may make an election under Section 4.2(d) with respect to any Frozen NYMEX Account.

5.    Notwithstanding anything to the contrary herein, in the event of a Participant’s death before his or her NYMEX Account has been fully distributed, the balance in the Participant’s NYMEX Account shall be paid to his or her beneficiary in a lump sum within 90 days after the date of the Participant’s death.

15Exhibit 4.1

 

AMIRA NATURE
FOODS LTD

2017 OMNIBUS
SECURITIES AND INCENTIVE PLAN

Table Of
Contents

 

	 	 	 	Page
	ARTICLE I	PURPOSE	3
	 	 	 
	ARTICLE II	DEFINITIONS	3
	 	 	 
	ARTICLE III	EFFECTIVE DATE OF PLAN	8
	 	 	 
	ARTICLE IV	ADMINISTRATION	8
	 	Section 4.1    	Composition of Committee	8
	 	Section 4.2	Powers	8
	 	Section 4.3	Additional Powers	8
	 	Section 4.4	Committee Action	8
	 	 	 	 
	ARTICLE V	SHARE SUBJECT TO PLAN AND LIMITATIONS THEREON	9
	 	Section 5.1	Shares Grant and Award Limits	9
	 	Section 5.2	Ordinary Shares Offered	9
	 	 	 	 
	ARTICLE VI	ELIGIBILITY FOR AWARDS; TERMINATION OF EMPLOYMENT, DIRECTOR STATUS OR CONSULTANT STATUS	9
	 	Section 6.1	Eligibility	9
	 	Section 6.2	Termination of Employment or Director Status	9
	 	Section 6.3	Termination of Consultant Status	10
	 	Section 6.4	Special Termination Rule	11
	 	Section 6.5	Termination for Cause	11
	 	 	 	
	ARTICLE VII	OPTIONS	11
	 	Section 7.1	Option Period	11
	 	Section 7.2	Limitations on Exercise of Option	11
	 	Section 7.3	Special Limitations on Incentive Share Options	11
	 	Section 7.4	Option Agreement	12
	 	Section 7.5	Option Price and Payment	12
	 	Section 7.6	Shareholder Rights and Privileges	12
	 	Section 7.7	Options and Rights in Substitution for Stock or Share Options Granted by Other Corporations	12
	 	Section 7.8	Prohibition Against Repricing	12
	 	 	 	 
	ARTICLE VIII  	RESTRICTED SHARE AWARDS	13
	 	Section 8.1	Restriction Period to be Established by Committee	13
	 	Section 8.2	Other Terms and Conditions	13
	 	Section 8.3	Payment for Restricted Shares	13
	 	Section 8.4	Restricted Share
Award Agreements	13
	 	 	 	 
	ARTICLE IX	UNRESTRICTED SHARE AWARDS	13
	 	 	 
	ARTICLE X	RESTRICTED SHARE UNIT AWARDS	14

 

     

     

    

 

AMIRA NATURE
FOODS LTD

2012 OMNIBUS
SECURITIES AND INCENTIVE PLAN

Table Of
Contents (continued)

 

	 	 	 	Page
	 	Section 10.1	Terms and Conditions	14
	 	Section 10.2	Payments	14
	 	 	 	 
	ARTICLE XI	PERFORMANCE UNIT AWARDS	14
	 	Section 11.1	Terms and Conditions	14
	 	Section 11.2	Payments	14
	 	 	 	 
	ARTICLE XII	PERFORMANCE SHARE AWARDS	14
	 	Section 12.1	Terms and Conditions	14
	 	Section 12.2	Shareholder Rights and Privileges	15
	 	 	 	 
	ARTICLE XIII	DISTRIBUTION EQUIVALENT RIGHTS	15
	 	Section 13.1	Terms and Conditions	15
	 	Section 13.2	Interest Equivalents	15
	 	 	 	 
	ARTICLE XIV	SHARE APPRECIATION RIGHTS	15
	 	Section 14.1	Terms and Conditions	15
	 	Section 14.2	Tandem Share Appreciation Rights	15
	 	 	 	 
	ARTICLE XV	RECAPITALIZATION OR REORGANIZATION	16
	 	Section 15.1	Adjustments to Ordinary Shares	16
	 	Section 15.2	Recapitalization	16
	 	Section 15.3	Other Events	16
	 	Section 15.4	Powers Not Affected	17
	 	Section 15.5	No Adjustment for Certain Awards	17
	 	 	 	 
	ARTICLE XVI	AMENDMENT AND TERMINATION OF PLAN	17
	 	 	 
	ARTICLE XVII    	MISCELLANEOUS	17
	 	Section 17.1	No Right to Award	17
	 	Section 17.2	No Rights Conferred	17
	 	Section 17.3	Other Laws; No Fractional Shares; Withholding	18
	 	Section 17.4	No Restriction on Corporate Action	18
	 	Section 17.5	Restrictions on Transfer	18
	 	Section 17.6	Beneficiary Designations	18
	 	Section 17.7	Rule 16b-3	18
	 	Section 17.8	Section 162(m)	19
	 	Section 17.9	Section 409A	19
	 	Section 17.10	Indemnification	20
	 	Section 17.11	Other Plans	20
	 	Section 17.12	Limits of Liability	20
	 	Section 17.13	Governing Law	20
	 	Section 17.14	Severability of Provisions	20
	 	Section 17.15	No Funding	20
	 	Section 17.16	Headings	20
	 	Section 17.17    	Terms of Award Agreements	20

 

    2

     

    

 

AMIRA NATURE
FOODS LTD

 

2017 OMNIBUS
SECURITIES AND INCENTIVE PLAN

 

ARTICLE I

PURPOSE

 

The
purpose of this Amira Nature Foods Ltd 2017 Omnibus Securities and Incentive Plan (the “Plan”) is to benefit
the shareholders of Amira Nature Foods Ltd, a BVI company (the “Company”), by assisting the Company to attract,
retain and provide incentives to key management employees and nonemployee directors of, and nonemployee consultants to, the Company
and its Affiliates, and to align the interests of such employees, nonemployee directors and nonemployee consultants with those
of the Company’s shareholders. Accordingly, the Plan provides for the granting of Distribution Equivalent Rights, Incentive
Share Options, Non-Qualified Share Options, Performance Share Awards, Performance Unit Awards, Restricted Share Awards, Restricted
Share Unit Awards, Share Appreciation Rights, Tandem Share Appreciation Rights, Unrestricted Share Awards or any combination of
the foregoing, as may be best suited to the circumstances of the particular Employee, Director or Consultant as provided herein.

 

ARTICLE II

DEFINITIONS

 

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

 

“Affiliate”
shall mean any corporation which, with respect to the Company, is a “subsidiary corporation” within the meaning of
Section 424(f) of the Code.

 

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

 

“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, and each of which shall constitute a part of the Plan.

 

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

 

“Cause”
shall mean (i) if the Holder is a party to an employment or similar agreement with the Company or an Affiliate which agreement
defines “Cause” (or a similar term) therein, “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.

 

    3

     

    

 

“Change
of Control” shall mean (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) therein, “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 Ordinary Shares immediately prior to the Business Combination have substantially the same proportionate
ownership of the common stock or ordinary shares, as applicable, of the the Company or 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 Ordinary Shares of a plan of complete liquidation of the Company other than a liquidation
of the Company into any subsidiary or a liquidation 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

 

(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, a “Change of Control” shall not be deemed to occur if the Company files for bankruptcy, liquidation
or reorganization under the United States Bankruptcy Code.

 

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

 

“Committee”
shall mean a committee comprised of at least one (1) member of the Board who is selected by the Chairman of the Board as provided
in Section 4.1.

 

“Company”
shall mean Amira Nature Foods Ltd, a BVI company, and any successor thereto.

 

    4

     

    

 

“Consultant”
shall mean any non-Employee (individual or entity) advisor to the Company or an Affiliate who or which has contracted directly
with the Company or an Affiliate to render bona fide consulting or advisory services thereto.

 

“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.

 

“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 Ordinary Share distributions equal in amount to the distributions that would have been
made to the Holder had the Holder held a specified number of Ordinary Shares during the period the Holder held the Distribution
Equivalent Right.

 

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

 

“Effective
Date” shall mean July 1, 2017.

 

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

  

“Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended.

 

“Fair
Market Value” shall mean, as determined consistent with the applicable requirements of Sections 409A and 422 of the Code,
as of any specified date, the closing sales price of the Ordinary Shares for such date (or, in the event that the Ordinary Shares
are not traded on such date, on the immediately preceding trading date) on the New York Stock Exchange on which the Ordinary Shares
are listed, as reported in The Wall Street Journal or The Financial Times.  If the Ordinary Shares are not listed on the New
York Stock Exchange or on a national securities exchange, but are quoted on the OTC Bulletin Board or by the National Quotation
Bureau, the Fair Market Value of the Ordinary Shares shall be the mean of the bid and asked prices per Ordinary Share for such
date.  If the Ordinary Shares are not quoted or listed as set forth above, Fair Market Value shall be determined by the Board
in good faith by any fair and reasonable means (which means, with respect to a particular Award grant, may be set forth with greater
specificity in the applicable Award Agreement).  The Fair Market Value of property other than Ordinary Shares shall be determined
by the Board in good faith by any fair and reasonable means, and consistent with the applicable requirements of Sections 409A and
422 of the Code.

 

“Family
Member” 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.

 

“Holder”
shall mean an Employee, Director or Consultant who has been granted an Award or any such individual’s beneficiary, estate
or representative, to the extent applicable.

 

“Incentive
Share Option” shall mean an Option which is intended by the Committee to constitute an “incentive stock option”
under Section 422 of the Code.

 

“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.

 

“Non-Qualified
Share Option” shall mean an Option which is not an Incentive Share Option.

 

    5

     

    

 

“Option”
shall mean an Award granted under Article VII of the Plan of an option to purchase Ordinary Shares and includes both Incentive
Share Options and Non-Qualified Share Options.

 

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

 

“Ordinary
Shares” shall mean the ordinary shares, par value $0.001 per share, of the Company.

 

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

 

“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.

 

“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 one or more Performance Goals or other business objectives shall be measured for purposes of determining
a Holder’s right to, and the payment of, a Qualified Performance-Based Award.

 

“Performance
Share Award” shall mean an Award granted under Article XII of the Plan under which, upon the satisfaction of predetermined
individual and/or Company (and/or Affiliate) performance goals and/or objectives, Ordinary Shares are paid to the Holder.

 

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

 

“Performance
Unit” shall mean a Unit awarded to a Holder pursuant to a Performance Unit Award.

 

“Performance
Unit Award” shall mean an Award granted under Article XI of the Plan under which, upon the satisfaction of predetermined
individual and/or Company (and/or Affiliate) performance goals and/or objectives, a cash payment shall be made to the Holder, based
on the number of Units awarded to the Holder.

 

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

 

“Plan”
shall mean this Amira Nature Foods Ltd 2017 Omnibus Securities and Incentive Plan, as amended from time to time, together with
each of the Award Agreements utilized hereunder.

 

“Qualified
Performance-Based Award” shall mean an Award intended to qualify as “performance-based” compensation under
Section 162(m) of the Code.

 

“Restricted
Share Award” shall mean an Award granted under Article VIII of the Plan of Ordinary Shares, the transferability
of which by the Holder shall be subject to Restrictions.

 

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

 

    6

     

    

 

“Restricted
Share Unit Award” shall mean an Award granted under Article X of the Plan under which, upon the satisfaction of
predetermined individual service-related vesting requirements, a cash payment shall be made to the Holder, based on the number
of Units awarded to the Holder.

 

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

 

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

 

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

 

“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.

 

“Share
Appreciation Right” 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 on the date of exercise.

 

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

 

“Tandem
Share Appreciation Right” shall mean a Share Appreciation Right granted in connection with a related Option, the exercise
of which shall result in termination of the otherwise entitlement to purchase some or all of the Ordinary Shares under the related
Option, all as set forth in Section 14.2.

 

“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.

 

“Total
and Permanent Disability” shall mean the inability 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, all as described in Section 22(e)(3) of the Code.

 

“Units”
shall mean bookkeeping units, each of which represents such monetary amount as shall be designated by the Committee in each Performance
Unit Award Agreement, or represents one (1) Ordinary Share for purposes of each Restricted Share Unit Award.

 

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

 

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

 

    7

     

    

 

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

 

Section 4.1             Composition
of Committee.  The Plan shall be administered by the Committee, which shall be appointed by the Chairman of the Board. 
The Committee shall consist at least one (1) Director. The Chairman or the Committee may delegate to a committee of one or
more members of the Board who are not “outside directors” within the meaning of Section 162(m) of the Code,
the authority to grant Awards to eligible persons who are not (A) then “covered employees” within the meaning
of Section 162(m) of the Code and are not expected to be “covered employees” at the time of recognition of
income resulting from such Award, or (B) persons with respect to whom the Company wishes to comply with the requirements of
Section 162(m) of the Code, and/or (y) a “non-employee director” under Rule 16b-3, the authority to
grant Awards to eligible persons who are not then subject to the requirements of Section 16 of the Exchange Act. Further,
to the extent required by applicable law, rule or regulation, it is intended that each member of the Committee shall qualify as
(a) a “non-employee director” under Rule 16b-3, (b) an “outside director” under Section 162(m) of the Code
and (c) an “independent director” under the rules of any national securities exchange or national securities association,
as applicable. If it is later determined that one or more members of the Committee do not so qualify, actions taken by the Committee
prior to such determination shall be valid despite such failure to qualify.

 

Section 4.2             Powers.
Subject to the 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 determining which Employees, Directors or Consultants shall receive an Award, 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), what type of Award shall be granted, the term of an Award, the date or dates on which an Award vests (including acceleration
of vesting), the form of any payment to be made pursuant to an Award, 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), the
Restrictions under a Restricted Share Award and the number of Ordinary Shares which may be issued under an Award, all as applicable.
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 shall deem relevant. To the extent applicable, the Plan is intended to comply
with the applicable requirements of Rule 16b-3, and with respect to Awards intended to be “performance-based,” the
applicable provisions of Section 162(m) of the Code, and the Plan shall be limited, construed and interpreted in a manner so as
to comply therewith

 

Section 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, and to determine the terms, restrictions and provisions of each Award, including such terms, restrictions and
provisions as shall be requisite in the judgment of the Committee to cause designated Options to qualify as Incentive Share Options,
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 it shall deem 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.

 

Section 4.4             Committee
Action.  In the absence of specific rules to the contrary, 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.

 

    8

     

    

 

ARTICLE V

SHARE SUBJECT TO PLAN AND LIMITATIONS THEREON

 

Section 5.1             Shares
Grant and Award Limits.  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
Article XV, the aggregate number of Ordinary Shares (including Ordinary Shares underlying Options designated as Incentive
Share Options) that may be issued under the Plan shall not exceed ten million (10,000,000) Ordinary Shares. Ordinary Shares shall
be deemed to have been issued under the Plan solely to the extent actually issued and delivered pursuant to an Award. To the extent
that an Award lapses, expires, is canceled, is terminated unexercised or ceases to be exercisable for any reason, or the rights
of its Holder terminate, any Ordinary Shares subject to such Award shall again be available for the grant of a new Award. Notwithstanding
any provision in the Plan to the contrary, the maximum number of Ordinary Shares that may be subject to Awards of Options, Share
Appreciation Rights, Performance Share Awards, Performance Unit Awards, Restricted Share Awards, Restricted Share Unit Awards,
Share Appreciation Rights or Unrestricted Share Award, granted to any one Employee during any calendar year, shall be one million
(1,000,000) Ordinary Shares (subject to adjustment in the same manner as provided in Article XV with respect to Ordinary Shares
subject to Awards then outstanding), and the maximum number of Ordinary Shares that may be subject to all types of Awards granted
to any one Employee during any calendar year, shall be one million (1,000,000) Ordinary Shares (subject to adjustment in the same
manner as provided in Article XV with respect to Ordinary Shares subject to Awards then outstanding). The limitation set forth
in the preceding sentence shall be applied in a manner which shall permit compensation generated in connection with the applicable
Award to constitute “performance-based” compensation for purposes of Section 162(m) of the Code, including,
but not limited to, counting against such maximum number of Ordinary Shares, to the extent required under Section 162(m) of
the Code, any Ordinary Shares subject to the applicable Award that are canceled or repriced.

 

Section 5.2             Ordinary
Shares Offered.  The Ordinary Shares to be offered pursuant to the grant of an Award may be authorized but unissued Ordinary
Shares, Ordinary Shares purchased on the open market or Ordinary Shares previously issued and outstanding and reacquired by the
Company.

 

ARTICLE VI

ELIGIBILITY FOR AWARDS; TERMINATION OF

EMPLOYMENT, DIRECTOR STATUS OR CONSULTANT STATUS

 

Section 6.1             Eligibility. 
Awards made under the Plan may be granted solely to persons or entities 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 Share Option, a Restricted Share Award, an Unrestricted
Share Award, a Distribution Equivalent Right Award, a Performance Share Award, a Performance Unit Award, a Share Appreciation Right,
a Tandem Share Appreciation Right, any combination thereof or, solely for Employees, an Incentive Share Option.

 

Section 6.2             Termination
of Employment or Director Status.  Except to the extent inconsistent with the terms of the applicable Award Agreement
and/or the provisions of Section 6.4 or 6.5, the following terms and conditions shall apply with respect to the termination
of a Holder’s employment with, or status as a Director of, the Company or an Affiliate, as applicable, for any reason, including,
without limitation, Total and Permanent Disability or death:

 

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

 

(1)           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 employment or after the date of such termination of Director status;

 

    9

     

    

 

(2)           If
such termination is on account of the Holder’s Total and Permanent Disability, one (1) year after the date of such termination
of employment or Director status; or

 

(3)           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 Non-Qualified Share Options and Share Appreciation Rights.

 

(b)           The
Holder’s rights, if any, to exercise any then exercisable Incentive Share Option shall terminate:

 

(1)           If
such termination is for a reason other than the Holder’s Total and Permanent Disability or death, three (3) months after
the date of such termination of employment;

 

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

 

(3)           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 Incentive Share Options.

 

(c)           If
a Holder’s employment with, or status as a Director of, the Company or an Affiliate, as applicable, terminates 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 Share Award and/or Restricted Share Unit Award, such Restricted Shares and/or Restricted Share Units 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 Shares and/or Restricted Share Units. The immediately preceding
sentence to the contrary notwithstanding, the Committee, in its sole discretion, may determine, prior to or within thirty (30)
days after the date of such termination of employment or Director status, that all or a portion of any such Holder’s Restricted
Shares and/or Restricted Share Units shall not be so canceled and forfeited.

 

Section 6.3             Termination
of Consultant Status. Except to the extent inconsistent with the terms of the applicable Award Agreement and/or the provisions
of Section 6.4 or 6.5, the following terms and conditions shall apply with respect to the termination of a Holder’s
status as a Consultant, for any reason:

 

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

 

(1)           If
such termination is for a reason other than the Holder’s death, ninety (90) days after the date of such termination; or

 

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

 

    10

     

    

 

(b)           If
the status of a Holder as a Consultant terminates 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 Share Award and/or Restricted Share Unit Award,
such Restricted Shares and/or Restricted Share Units 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
Shares and/or Restricted Share Units. The immediately preceding sentence to the contrary notwithstanding, the Committee, in its
sole discretion, may determine, prior to or within thirty (30) days after the date of such termination of such a Holder’s
status as a Consultant, that all or a portion of any such Holder’s Restricted Shares and/or Restricted Share Units shall
not be so canceled and forfeited.

 

Section 6.4             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 6.3; provided, however,
that any such Award which is intended to be an Incentive Share Option shall, upon the Holder’s no longer being an Employee,
automatically convert to a Non-Qualified Share 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.

 

Section 6.5             Termination
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, should a Holder’s employment, Director status or engagement as a Consultant
with or for the Company or an Affiliate be terminated by the Company or Affiliate for Cause, all of such Holder’s then outstanding
Awards shall expire immediately and be forfeited in their entirety upon such termination.

 

ARTICLE VII

OPTIONS

 

Section 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.

 

Section 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.

 

Section 7.3             Special
Limitations on Incentive Share Options.  To the extent that the aggregate Fair Market Value (determined at the time the
respective Incentive Share Option is granted) of Ordinary Shares with respect to which Incentive Share 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 Share 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 Share Options that exceeds such threshold shall be treated as Non-Qualified Share Options. Incentive
Share Options shall be granted to Employees only. 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 Share Options when granted to the Holder, will not constitute Incentive Share Options because of such
limitation, and shall notify the Holder of such determination as soon as practicable after such determination. No Incentive Share
Option shall be granted to an Employee if, at the time the Incentive Share Option is granted, such Employee is a Ten Percent Shareholder,
unless (i) at the time such Incentive Share Option is granted the Option price is at least one hundred ten percent (110 %)
of the Fair Market Value of the Ordinary Shares subject to the Incentive Share Option, and (ii) such Incentive Share Option
by its terms is not exercisable after the expiration of five (5) years from the date of grant.  No Incentive Share Option
shall be granted more than ten (10) years from the date on which the Plan is approved by the Company’s shareholders. 
The designation by the Committee of an Option as an Incentive Share 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

     

    

 

Section 7.4             Option
Agreement. Each Option shall be evidenced by an Option Agreement in such form and containing such provisions not inconsistent
with the 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 Share 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 Ordinary 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, 6.4 and 6.5, as applicable,
specify the effect of termination of employment, Director status or Consultant status on the exercisability of the Option. Moreover,
without limited the generality of the foregoing, an 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 Ordinary 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
Ordinary 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 Ordinary 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.  Each Option Agreement shall, solely to the extent inconsistent
with the provisions of Sections 6.2, 6.3, 6.4 and 6.5, as applicable, specify the effect of the termination of the Holder’s
employment, Director status or Consultant status on the exercisability of the Option. 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.

 

Section 7.5             Option
Price and Payment.  The price at which an Ordinary Share may be purchased upon exercise of an Option shall be determined
by the Committee; provided, however, that such Option price as determined by the Committee shall be subject
to adjustment as provided in Article XV. The Option price 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 Ordinary Shares otherwise issuable in connection with the exercise of the Option, for purposes of Section 7.4(b).
Separate share certificates shall be issued by the Company for those Ordinary Shares acquired pursuant to the exercise of an Incentive
Share Option and for those Ordinary Shares acquired pursuant to the exercise of a Non-Qualified Share Option.

 

Section 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 Ordinary Shares as have been purchased under the Option and for which share certificates have been
registered in the Holder’s name.

 

Section 7.7             Options
and Rights in Substitution for Stock or Share Options Granted by Other Corporations.  Options may be granted under the
Plan from time to time in substitution for stock or share options held by individuals employed by entities who become Employees
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.

 

Section 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 Share 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 Share Appreciation Rights previously granted.

 

    12

     

    

 

ARTICLE VIII

RESTRICTED SHARE AWARDS

 

Section 8.1             Restriction
Period to be Established by Committee.  At the time a Restricted Share Award is made, the Committee shall establish the
Restriction Period applicable to such Award. Each Restricted Share Award may have a different Restriction Period, in the discretion
of the Committee. The Restriction Period applicable to a particular Restricted Share Award shall not be changed except as permitted
by Section 8.2.

 

Section 8.2             Other
Terms and Conditions.  Ordinary Shares awarded pursuant to a Restricted Share Award shall be represented by a share
certificate registered in the name of the Holder of such Restricted Share Award. If provided for under the Restricted Share
Award Agreement, the Holder shall have the right to vote Ordinary Shares subject thereto and to enjoy all other shareholder
rights, including the entitlement to receive dividends on the Ordinary Shares during the Restriction Period, except that
(i) the Holder shall not be entitled to delivery of the share certificate until the Restriction Period shall have
expired, (ii) the Company shall retain custody of the share certificate during the Restriction Period (with a share
power endorsed by the Holder in blank), (iii) the Holder may not sell, transfer, pledge, exchange, hypothecate or
otherwise dispose of the Ordinary Shares during the Restriction Period and (iv) a breach of the terms and conditions
established by the Committee pursuant to the Restricted Share Award Agreement shall cause a forfeiture of the Restricted
Share Award. At the time of such Award, the Committee may, in its sole discretion, prescribe additional terms and conditions
or restrictions relating to Restricted Share Awards, including, but not limited to, rules pertaining to the effect of
termination of employment, Director status or Consultant status 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 Share Award Agreement made in conjunction with the Award. Such Restricted
Share Award 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 Share Agreements need not be identical.  All Ordinary Shares
delivered to a Holder as part of a Restricted Share Award shall be delivered or released of restrictions and reported by the
Company or the Affiliate, as applicable, to the Holder by 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 entitlement to such
Ordinary Shares becomes vested.

 

Section 8.3             Payment
for Restricted Shares.  The Committee shall determine the amount and form of any payment from a Holder for Ordinary Shares
received pursuant to a Restricted Share Award, if any, provided that in the absence of such a determination, a Holder shall not
be required to make any payment for Ordinary Shares received pursuant to a Restricted Share Award, except to the extent otherwise
required by law.

 

Section 8.4             Restricted
Share Award Agreements. At the time any Award is made under this Article VIII, the Company and the Holder shall enter
into a Restricted Share Award Agreement setting forth each of the matters contemplated hereby and such other matters as the Committee
may determine to be appropriate.

 

ARTICLE IX

UNRESTRICTED SHARE AWARDS

 

Pursuant
to the terms of the applicable Unrestricted Share Award Agreement, a Holder may be awarded (or sold) Ordinary Shares which are
not subject to Restrictions, in consideration for past services rendered thereby to the Company or an Affiliate or for other valid
consideration.

 

    13

     

    

 

ARTICLE X

RESTRICTED SHARE UNIT AWARDS

 

Section 10.1           Terms
and Conditions.  The Committee shall set forth in the applicable Restricted Share Unit Award Agreement the individual
service-based vesting requirement which the Holder would be required to satisfy before the Holder would become entitled to payment
pursuant to Section 10.2 and the number of Units awarded to the Holder.  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 Restricted Share Unit Awards, including, but
not limited to, rules pertaining to the effect of termination of employment, Director status or Consultant status prior to
expiration of the applicable vesting period.  The terms and conditions of the respective Restricted Share Unit Award Agreements
need not be identical.

 

Section 10.2          Payments. 
The Holder of a Restricted Share Unit shall be entitled to receive a cash payment equal to the Fair Market Value of an Ordinary
Share, or one (1) Ordinary Share, as determined in the sole discretion of the Committee and as set forth in the Restricted Share
Unit Award Agreement, for each Restricted Share Unit subject to such Restricted Share Unit Award, if the Holder satisfies the applicable
vesting requirement.  Such payment 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 Share Unit first becomes vested.

 

ARTICLE XI

PERFORMANCE UNIT AWARDS

 

Section 11.1           Terms
and Conditions.  The Committee shall set forth in the applicable Performance Unit Award Agreement the performance goals
and objectives (and the period of time to which such goals and objectives shall apply) which the Holder and/or the Company would
be required to satisfy before the Holder would become entitled to payment pursuant to Section 11.2, the number of Units awarded
to the Holder and the dollar value 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 employment, Director status or Consultant status prior to expiration of the applicable
performance period.  The terms and conditions of the respective Performance Unit Award Agreements need not be identical.

 

Section
11.2          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 Award
Agreement if the Holder and/or the Company satisfy (or partially satisfy, if applicable under the applicable Performance Unit Award
Agreement) the performance goals and objectives set forth in such Performance Unit Award Agreement.  If achieved, such payment
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.

 

ARTICLE XII

PERFORMANCE SHARE AWARDS

 

Section
12.1          Terms and Conditions.  The Committee shall set forth
in the applicable Performance Share Award Agreement the performance goals and objectives (and the period of time to which such
goals and objectives shall apply) which the Holder and/or the Company would be required to satisfy before the Holder would become
entitled to the receipt of Ordinary Shares pursuant to such Holder’s Performance Share Award and the number of Ordinary Shares
subject to such Performance Share Award.  Such payment shall be subject to a “substantial risk of forfeiture”
under Section 409A of the Code and, if such goals and objectives are achieved, the distribution of such Common 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 to which such goals and objectives relate.  At the time of such Award, the Committee may, in its sole discretion,
prescribe additional terms and conditions or restrictions relating to Performance Share Awards, including, but not limited to,
rules pertaining to the effect of termination of the Holder’s employment, Director status or Consultant status prior to the
expiration of the applicable performance period.  The terms and conditions of the respective Performance Share Award Agreements
need not be identical.

 

    14

     

    

 

Section
12.2           Shareholder Rights and Privileges.  The Holder of a
Performance Share Award shall have no rights as a shareholder of the Company until such time, if any, as the Holder actually receives
Ordinary Shares pursuant to the Performance Share Award.

 

ARTICLE XIII

DISTRIBUTION EQUIVALENT RIGHTS

 

Section 13.1           Terms
and Conditions.  The Committee shall set forth in the applicable Distribution Equivalent Rights Award Agreement the terms
and conditions applicable to such Award, 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 Ordinary 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 Ordinary 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 Ordinary 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, 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.

 

Section 13.2           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 was credited), at a rate set forth in the applicable Distribution Equivalent Rights Award Agreement, on the amount
of cash payable thereunder.

 

ARTICLE XIV

SHARE APPRECIATION RIGHTS

 

Section 14.1           Terms
and Conditions.  The Committee shall set forth in the applicable Share Appreciation Right Award Agreement the terms and
conditions of the Share Appreciation Right, including (i) the base value (the “Base Value”) for the Share Appreciation
Right, which for purposes of a Share Appreciation Right which is not a Tandem Share Appreciation Right, shall be not less than
the Fair Market Value of an Ordinary Share on the date of grant of the Share Appreciation Right, (ii) the number of Ordinary Shares
subject to the Share Appreciation Right, (iii) the period during which the Share Appreciation Right may be exercised;  provided, however,
that no Share 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 Share Appreciation Right. Upon the exercise of
some or all of the portion of a Share Appreciation Right, the Holder shall receive a payment from the Company, in cash or in the
form of Ordinary 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 an Ordinary Share on the date of exercise, over (ii) the Base Value, multiplied by;

 

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

 

Section
14.2          Tandem Share Appreciation Rights. If the Committee grants
a Share Appreciation Right which is intended to be a Tandem Share Appreciation Right, the Tandem Share 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 Ordinary Share exercise price under the related Option;

 

    15

     

    

 

(b)          
The Tandem Share Appreciation Right may be exercised for all or part of the Ordinary 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 an Ordinary Share is purchased under the related Option, an equivalent portion of the related Tandem Share Appreciation
Right shall be cancelled);

 

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

 

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

 

ARTICLE XV

RECAPITALIZATION OR REORGANIZATION

 

Section 15.1           Adjustments
to Ordinary Shares.  The shares with respect to which Awards may be granted under the Plan are Ordinary Shares as presently
constituted; provided, however, that if, and whenever, prior to the expiration or distribution to the Holder
of Ordinary Shares underlying an Award theretofore granted, the Company shall effect a subdivision or consolidation of the Ordinary
Shares or the payment of an Ordinary Share dividend on Ordinary Shares without receipt of consideration by the Company, the number
of Ordinary 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 Ordinary Shares, shall be proportionately increased, and the purchase price per Ordinary
Share shall be proportionately reduced, and (ii) in the event of a reduction in the number of outstanding Ordinary Shares, shall
be proportionately reduced, and the purchase price per Ordinary 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 Share 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 Share 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 Share 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 Share Option granted under the Plan to become
subject to Section 409A of the Code.

 

Section 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 Ordinary 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 Ordinary Shares then covered by such Award.

 

Section 15.3           Other
Events.  In the event of changes to the outstanding Ordinary Shares by reason of extraordinary cash dividend, reorganization,
mergers, consolidations, combinations, split-ups, spin-offs, exchanges or other relevant changes 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 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 Ordinary 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 Ordinary Shares available under the Plan pursuant to Section 5.1 (and the Code Section 162(m) limit set forth therein) 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 Participant or a person who has an outstanding Award.  The number of Ordinary Shares subject
to any Award shall be rounded to the nearest whole number.

 

    16

     

    

 

Section 15.4          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 Ordinary 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.

 

Section 15.5          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 Ordinary Shares subject to Awards theretofore granted or the purchase
price per Ordinary 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 in its discretion may
terminate the Plan at any time with respect to any shares for which Awards have not theretofore been granted; provided, however,
that the Plan’s termination shall not materially and adversely impair the rights of a Holder with respect to any Award theretofore
granted without the consent of the Holder. The Board shall have the right to alter or amend the Plan or any part hereof from time
to time; provided, however, that without the approval by a majority of the votes cast at a meeting of shareholders
at which a quorum representing a majority of the shares of the Company entitled to vote generally in the election of directors
is present in person or by proxy, no amendment or modification of the Plan may (i) materially increase the benefits accruing to
Holders, (ii) except as otherwise expressly provided in Article XV, materially increase the number of Ordinary Shares subject to
the Plan or the individual Award Agreements specified in Article V, (iii) materially modify the requirements for participation
in the Plan, or (iv) amend, modify or suspend Section 7.8 (repricing prohibitions) or this Article XVI.  In addition, no change
in any Award theretofore granted may be made which would materially and adversely impair the rights of a Holder with respect to
such Award without the consent of the Holder (unless such change is required in order to cause the benefits under the Plan to qualify
as “performance-based” compensation within the meaning of Section 162(m) of the Code or to exempt the Plan or any Award
from Section 409A of the Code).

  

ARTICLE XVII

MISCELLANEOUS

 

Section 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.

 

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

 

    17

     

    

 

Section 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 Ordinary 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 Ordinary 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 Ordinary Shares shall be delivered, nor shall any cash in lieu of fractional
Ordinary 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 Ordinary Shares, no Ordinary 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,
Ordinary Shares (including Ordinary Shares issuable in respect of an Award) to satisfy, in whole or in part, the amount required
to be withheld.

 

Section 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.

 

Section 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) except for an Incentive Share Option, by gift to any Family Member of the Holder.
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.

 

Section 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.

 

Section 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.

 

    18

     

    

 

Section 17.8          Section 162(m). 
It is intended that the Plan shall comply fully with and meet all the requirements of Section 162(m) of the Code so that Awards
hereunder which are made to Holders who are “covered employees” (as defined in Section 162(m) of the Code) shall constitute
“performance-based” compensation within the meaning of Section 162(m) of the Code. Any Performance Goal(s) applicable
to Qualified Performance-Based Awards shall be objective, shall be established not later than ninety (90) days after the beginning
of any applicable Performance Period (or at such other date as may be required or permitted for “performance-based”
compensation under Section 162(m) of the Code) and shall otherwise meet the requirements of Section 162(m) of the Code, including
the requirement that the outcome of the Performance Goal or Goals be substantially uncertain (as defined in the regulations under
Section 162(m) of the Code) at the time established.  The Performance Criteria to be utilized under the Plan to establish
Performance Goals shall consist of objective tests based on one or more of the following: earnings or earnings per share, cash
flow or cash flow per share, operating  cash flow or operating cash flow per share revenue growth, product revenue growth,
financial return ratios (such as return on equity, return on investment and/or return on assets), share price performance, shareholder
return, equity and/or value, operating income, operating margins, earnings before interest, taxes, depreciation and amortization,
earnings, pre- or post-tax income, economic value added (or an equivalent metric), profit returns and margins, credit quality,
sales growth, market share, working capital levels, comparisons with various share market indices, year-end cash, debt reduction,
assets under management, operating efficiencies, strategic partnerships or transactions (including co-development, co-marketing,
profit sharing, joint venture or other similar arrangements), and/or financing and other capital raising transaction.  Performance
criteria may be established on a Company-wide basis or with respect to one or more Company business units or divisions or subsidiaries;
and either in absolute terms, relative to the performance of one or more similarly situated companies, or relative to the performance
of an index covering a peer group of companies.  When establishing Performance Goals for the applicable Performance Period,
the Committee may exclude any or all “extraordinary items” as determined under U.S. generally accepted accounting principles
including, without limitation, the charges or costs associated with restructurings of the Company, discontinued operations, other
unusual or non-recurring items, and the cumulative effects of accounting changes, and as identified in the Company’s financial
statements, notes to the Company’s financial statements or management’s discussion and analysis of financial condition
and results of operations contained in the Company’s most recent annual report filed with the U.S. Securities and Exchange
Commission pursuant to the Exchange Act.  Holders who are “covered employees” (as defined in Section 162(m) of
the Code) shall be eligible to receive payment under a Qualified Performance-Based Award which is subject to achievement of a Performance
Goal or Goals only if the applicable Performance Goal or Goals are achieved within the applicable Performance Period, as determined
by the Committee.  If any provision of the Plan would disqualify the Plan or would not otherwise permit the Plan to comply
with Section 162(m) of the Code as so intended, such provision shall be construed or deemed amended to conform to the requirements
or provisions of Section 162(m) of the Code.  The Committee may postpone the exercising of Awards, the issuance or delivery
of Ordinary Shares under any Award or any action permitted under the Plan to prevent the Company or any subsidiary from being denied
a federal income tax deduction with respect to any Award other than an Incentive Share Option, provided that such deferral satisfies
the requirements of Section 409A of the Code.  For purposes of the requirements of Treasury Regulation Section 1.162-27(e)(4)(i),
the maximum amount of compensation that may be paid to any Employee under the Plan for a calendar year shall be $1,500,000 Dollars.

 

Section 17.9          Section 409A. 
Notwithstanding any other provision of the Plan, the Committee shall have no authority to issue an Award under the Plan with terms
and/or conditions which would cause such Award to constitute non-qualified “deferred compensation” under Section 409A
of the Code.  Accordingly, by way of example but not limitation, no Option shall be granted under the Plan with a per Ordinary
Share Option exercise price which is less than the Fair Market Value of an Ordinary Share on the date of grant of the Option. 
Notwithstanding anything herein to the contrary, no Award Agreement shall provide for any deferral feature with respect to an Award
which constitutes a deferral of compensation under Section 409A of the Code.  The Plan and all Award Agreements are intended
to comply with the requirements of Section 409A of the Code (so as to be exempt therefrom) and shall be so interpreted and
construed.

 

    19

     

    

 

Section 17.10       Indemnification. 
Each person who is or shall have been a member of the Committee or of the Board shall be 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 Articles of Incorporation or By-laws, by contract, as a matter of law, or otherwise.

 

Section 17.11       Other
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.

 

Section 17.12       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.

 

Section 17.13       Governing
Law.  Except as otherwise provided herein, the Plan shall be construed in accordance with BVI law, without regard to principles
of conflicts of law.

 

Section 17.14       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.

 

Section 17.15       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.

 

Section 17.16       Headings.
Headings used throughout the Plan are for convenience only and shall not be given legal significance.

 

Section 17.17       Terms
of Award Agreements. Each Award shall be evidenced by an Award Agreement, which Award Agreement, if it provides for the issuance
of Ordinary Shares, shall require the Holder to enter into and be bound by the terms of the Company’s Shareholders’
Agreement, if any.  The terms of the Award Agreements utilized under the Plan need not be the same.

 

    20

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00273-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00273-of-00352.parquet"}]]