Document:

Exhibit
4.4 

 

NEITHER
THIS WARRANT NOR THE SHARES ISSUABLE UPON EXERCISE HEREOF HAVE BEEN REGISTERED WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION
(THE “COMMISSION”) OR THE SECURITIES COMMISSION OF ANY STATE PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER REGULATION
D PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS WARRANT NOR THE SHARES ISSUABLE
UPON EXERCISE HEREOF MAY BE SOLD, PLEDGED, TRANSFERRED OR ASSIGNED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT AND UNDER APPLICABLE STATE SECURITIES LAWS, OR IN A TRANSACTION WHICH IS EXEMPT FROM REGISTRATION UNDER THE PROVISIONS OF THE SECURITIES
ACT AND UNDER PROVISIONS OF APPLICABLE STATE SECURITIES LAWS.

 

Warrant
2021 WB _______

 

STOCK
PURCHASE WARRANT

 

To
Purchase _______________ Shares of Common Stock of

 

VITRO
BIOPHARMA, INC.

 

THIS
CERTIFIES that, for value received, __________________________________, or assigns (the “Holder”), is entitled, upon the
terms and subject to the conditions hereinafter set forth, at any time on or after the date of issuance of this Warrant (the
“Initial Exercise Date”) and on or prior to the close of business on        , 2026
[five years from Initial Exercise Date] (the “Termination Date”) unless sooner terminated in accordance with the
Agreement as hereinbelow defined but not thereafter, to subscribe for and purchase from VITRO BIOPHARMA, INC., a Nevada
corporation (the “Company”), up to ____________________________(______________) shares (the “Warrant
Shares”) of Common Stock, $.001 par value per share of the Company (the “Common Stock”). The purchase price of one
share of Common Stock (the “Exercise Price”) under this Warrant shall be $1.00. The Exercise Price and the number of
shares for which the Warrant is exercisable shall be subject to adjustment as provided herein.

 

1.
Title of Warrant. Prior to the expiration hereof and subject to compliance with applicable, this Warrant and all rights hereunder
are transferable, in whole or in part, at the office or agency of the Company by the holder hereof in person or by duly authorized attorney,
upon surrender of this Warrant together with the Assignment Form annexed hereto properly endorsed.

 

2.
Authorization of Shares. The Company covenants that all shares of Common Stock which may be issued upon the exercise of rights
represented by this Warrant will, upon exercise of the rights represented by this Warrant, be duly authorized, validly issued, fully
paid and nonassessable and free from all taxes, liens and charges in respect of the issue thereof (other than taxes in respect of any
transfer occurring contemporaneously with such issue).

 

    	 

     

    

 

3.
Exercise of Warrant.

 

(a)
Except as provided in Section 4 herein, exercise of the purchase rights represented by this Warrant may be made at any time or times
on or after the Initial Exercise Date, and before the close of business on the Termination Date, or such earlier date on which this Warrant
may terminate as provided elsewhere in this Warrant, by the surrender of this Warrant and the Notice of Exercise Form annexed hereto
duly executed, at the office of the Company (or such other office or agency of the Company as it may designate by notice in writing to
the registered holder hereof at the address of such holder appearing on the books of the Company) and upon payment of the Exercise Price
of the shares thereby purchased in the manner provided for herein, the holder of this Warrant shall be entitled to receive a certificate
for the number of shares of Common Stock so purchased. Certificates for shares purchased hereunder shall be delivered to the holder hereof
within three (3) business days after the date on which this Warrant shall have been exercised as aforesaid. This Warrant shall be deemed
to have been exercised and such certificate or certificates shall be deemed to have been issued, and Holder or any other person so designated
to be named therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has
been exercised by payment to the Company of the Exercise Price and all taxes required to be paid by Holder, if any, pursuant to Section
5 prior to the issuance of such shares, have been paid. If this Warrant shall have been exercised in part, the Company shall, at the
time of delivery of the certificate or certificates representing Warrant Shares, deliver to Holder a new Warrant evidencing the rights
of Holder to purchase the unpurchased shares of Common Stock called for by this Warrant, which new Warrant shall in all other respects
be identical with this Warrant.

 

(b)
Notwithstanding any other provision hereof, in no event (except (i) as specifically provided herein as an exception to this provision,
or (ii) while there is outstanding a tender offer for any or all of the shares of the Company’s Common Stock) shall the Holder
be entitled to exercise any portion of this Warrant, or shall the Company have the obligation to accept the exercise of such Warrant
(and the Company shall not have the right to pay interest hereon in shares of Common Stock) to the extent that, after such exercise or
issuance of stock in payment of interest, the sum of (1) the number of shares of Common Stock beneficially owned by the Holder and its
affiliates (other than shares of Common Stock which may be deemed beneficially owned through the ownership of the unexercised portion
of the Warrants or other convertible securities or of the unexercised portion of other options or warrants or other rights to purchase
Common Stock), and (2) the number of shares of Common Stock issuable upon the exercise of the Warrants with respect to which the determination
of this proviso is being made, would result in beneficial ownership by the Holder and its affiliates of more than 4.99% of the outstanding
shares of Common Stock (after taking into account the shares to be issued to the Holder upon such conversion). For purposes of the proviso
to the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange
Act of 1934, as amended, except as otherwise provided in clause (1) of such sentence. The Holder, by its acceptance of this Warrant,
further agrees that if the Holder transfers or assigns any of the Warrants to a party who or which would not be considered such an affiliate,
such assignment shall be made subject to the transferee’s or assignee’s specific agreement to be bound by the provisions
of this Section 3(b) as if such transferee or assignee were the original Holder hereof. Nothing herein shall preclude the Holder from
disposing of a sufficient number of other shares of Common Stock beneficially owned by the Holder so as to thereafter permit the continued
exercise of this Warrant.

 

4.
Manner of Payment. The exercise price of each Warrant shall be paid in cash, certified funds or wire transfer at the time the
Warrant is exercised.

 

5.
No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which Holder would otherwise be entitled to purchase upon such exercise, the Company shall
pay a cash adjustment in respect of such final fraction in an amount equal to the Exercise Price.

 

    	2

     

    

 

6.
Charges, Taxes and Expenses. Issuance of certificates for shares of Common Stock upon the exercise of this Warrant shall be made
without charge to the holder hereof for any issue or transfer tax or other incidental expense in respect of the issuance of such certificate,
all of which taxes and expenses shall be paid by the Company, and such certificates shall be issued in the name of the holder of this
Warrant or in such name or names as may be directed by the holder of this Warrant; provided, however, that in the event certificates
for shares of Common Stock are to be issued in a name other than the name of the holder of this Warrant, this Warrant when surrendered
for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the holder hereof; and provided further, that
upon any transfer involving the issuance or delivery of any certificates for shares of Common Stock, the Company may require, as a condition
thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto.

 

7.
Closing of Books. The Company will not close its shareholder books or records in any manner which prevents the timely exercise
of this Warrant.

 

8.
Transfer, Division and Combination.

 

(a)
Subject to compliance with any applicable securities laws (including the provision to the Company of an opinion of counsel for the assignor
of this Warrant), transfer of this Warrant and all rights hereunder, in whole or in part, shall be registered on the books of the Company
to be maintained for such purpose, upon surrender of this Warrant at the principal office of the Company, together with a written assignment
of this Warrant substantially in the form attached hereto duly executed by Holder or its agent or attorney and funds sufficient to pay
any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute
and deliver a new Warrant or Warrants in the name of the assignee or assignees and in the denomination specified in such instrument of
assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall
promptly be cancelled. A Warrant, if properly assigned, may be exercised by a new Holder for the purchase of shares of Common Stock without
having a new Warrant issued.

 

(b)
This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together
with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by Holder or its agent or
attorney. Subject to compliance with Section 8(a), as to any transfer which may be involved in such division or combination, the Company
shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with
such notice.

 

(c)
The Company shall prepare, issue and deliver at its own expense (other than transfer taxes) the new Warrant or Warrants under this Section
8.

 

(d)
The Company agrees to maintain, at its aforesaid office, books for the registration and the registration of transfer of the Warrants.

 

9.
No Rights as Shareholder until Exercise. This Warrant does not entitle the holder hereof to any voting rights or other rights
as a shareholder of the Company prior to the exercise hereof. Upon the surrender of this Warrant and the payment of the aggregate Exercise
Price, the Warrant Shares so purchased shall be and be deemed to be issued to such holder as the record owner of such shares as of the
close of business on the later of the date of such surrender or payment.

 

    	3

     

    

 

10.
Loss, Theft, Destruction or Mutilation of Warrant. The Company represents and warrants that upon receipt by the Company of evidence
reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant certificate or any stock certificate relating
to the Warrant Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it, and upon surrender
and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate
of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

 

11.
Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required
or granted herein shall be a Saturday, Sunday or a legal holiday, then such action may be taken or such right may be exercised on the
next succeeding day not a Saturday, Sunday or legal holiday.

 

12.
Adjustments of Exercise Price and Number of Warrant Shares.

 

(a) Stock
Splits, etc. The number and kind of securities purchasable upon the exercise of this Warrant and the Exercise Price shall be
subject to adjustment from time to time upon the happening of any of the following. In case the Company shall (i) pay a dividend in
shares of Common Stock or make a distribution in shares of Common Stock to holders of its outstanding Common Stock, (ii) subdivide
its outstanding shares of Common Stock into a greater number of shares of Common Stock, (iii) combine its outstanding shares of
Common Stock into a smaller number of shares of Common Stock or (iv) issue any shares of its capital stock in a reclassification of
the Common Stock, then the number of Warrant Shares purchasable upon exercise of this Warrant immediately prior thereto shall be
adjusted so that the holder of this Warrant shall be entitled to receive the kind and number of Warrant Shares or other securities
of the Company which he would have owned or have been entitled to receive had such Warrant been exercised in advance thereof. Upon
each such adjustment of the kind and number of Warrant Shares or other securities of the Company which are purchasable hereunder,
the holder of this Warrant shall thereafter be entitled to purchase the number of Warrant Shares or other securities resulting from
such adjustment at an Exercise Price per such Warrant Share or other security obtained by multiplying the Exercise Price in effect
immediately prior to such adjustment by the number of Warrant Shares purchasable pursuant hereto immediately prior to such
adjustment and dividing by the number of Warrant Shares or other securities of the Company resulting from such adjustment. An
adjustment made pursuant to this paragraph shall become effective immediately after the effective date of such event retroactive to
the record date, if any, for such event.

 

    	4

     

    

 

(b)
Reorganization, Reclassification, Merger, Consolidation or Disposition of Assets. In case the Company shall reorganize its capital,
reclassify its capital stock, consolidate or merge with or into another corporation (where the Company is not the surviving corporation
or where there is a change in or distribution with respect to the Common Stock of the Company), or sell, transfer or otherwise dispose
of all or substantially all its property, assets or business to another corporation and, pursuant to the terms of such reorganization,
reclassification, merger, consolidation or disposition of assets, shares of common stock of the successor or acquiring corporation, or
any cash, shares of stock or other securities or property of any nature whatsoever (including warrants or other subscription or purchase
rights) in addition to or in lieu of common stock of the successor or acquiring corporation (“Other Property”), are to be
received by or distributed to the holders of Common Stock of the Company, then the holder of this Warrant shall have the right thereafter
to receive, upon exercise of this Warrant, the number of shares of common stock of the successor or acquiring corporation or of the Company,
if it is the surviving corporation, and Other Property receivable upon or as a result of such reorganization, reclassification, merger,
consolidation or disposition of assets by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately
prior to such event. In case of any such reorganization, reclassification, merger, consolidation or disposition of assets, the successor
or acquiring corporation (if other than the Company) shall expressly assume the due and punctual observance and performance of each and
every covenant and condition of this Warrant to be performed and observed by the Company and all the obligations and liabilities hereunder,
subject to such modifications as may be deemed appropriate (as determined by resolution of the Board of Directors of the Company) in
order to provide for adjustments of shares of Common Stock for which this Warrant is exercisable which shall be as nearly equivalent
as practicable to the adjustments provided for in this Section 12. For purposes of this Section 12, “common stock of the successor
or acquiring corporation” shall include stock of such corporation of any class which is not preferred as to dividends or assets
over any other class of stock of such corporation and which is not subject to redemption and shall also include any evidences of indebtedness,
shares of stock or other securities which are convertible into or exchangeable for any such stock, either immediately or upon the arrival
of a specified date or the happening of a specified event and any warrants or other rights to subscribe for or purchase any such stock.
The foregoing provisions of this Section 12 shall similarly apply to successive reorganizations, reclassifications, mergers, consolidations
or disposition of assets.

 

(c)
Anti-Dilution Provisions.

 

(i)
Adjustment for Dividends. In the event the Company shall make or issue, or shall have issued, or shall fix a record date for the
determination of holders of common stock entitled to receive a dividend or the distribution (other than a distribution otherwise provided
for herein) payable in (a) securities of the Company other than shares of Common Stock or (b) assets (including cash paid or payable
out of capital or capital surplus or surplus created as a result of a revaluation of property, but excluding the cumulative dividends
payable with respect to an authorized series of Preferred Stock), then and in each such event provision shall be made so that the holders
of Warrants shall receive upon exercise thereof in addition to the number of shares of Common Stock receivable thereupon, the number
of securities or such other assets of the Company which they would have received had their Warrants been exercised into Common Stock
on the date of such event and had they thereafter, during the period from the date of such event to and including the exercise date,
retained such securities or such other assets receivable by them as aforesaid during such period, giving application to all adjustments
called for during such period under this paragraph with respect to Warrant holders.

 

(ii)
Adjustment for Capital Reorganization or Reclassification. If the common stock issuable upon the exercise of the Warrants shall
be changed into the same or different number of shares of any class or classes of stock, whether by capital reorganization, reclassification
or otherwise then and in each such event the holder of the Warrants shall have the right thereafter to exercise such Warrants and receive
the kind an amount of shares of stock and other securities and property receivable upon such reorganization, reclassification or other
change by holders of the number of shares of common stock into which such Warrant might have been exercised immediately prior to such
reorganization, reclassification or change, all subject to further adjustment as provided herein.

 

    	5

     

    

 

(iii)
Adjustment of Number of Shares. Anything in this Certificate to the contrary notwithstanding, in case the Company shall at any
time issue Common Stock or Convertible Securities by way of dividend or other distribution on any stock of the Company or subdivide or
combine the outstanding shares of Common Stock, the Exercise Price shall be proportionately decreased in the case of such issuance (on
the day following the date fixed for determining shareholders entitled to receive such dividend or other distribution) or decreased in
the case of such subdivision or increased in the case of such combination (on the date that such subdivision or combination shall become
effective).

 

(iv)
No Adjustment for Small Amounts. Anything in this paragraph to the contrary notwithstanding, the Company shall not be required
to give effect to any adjustment in the Exercise Price unless and until the net effect of one or more adjustments, determined as above
provided, shall have required a change of the Exercise Price by at least one cent, but when the cumulative net effect of more than one
adjustment so determined shall be to change the actual Exercise Price by at least one cent, such change in the Exercise Price shall thereupon
be given effect.

 

(v)
Number of Shares Adjusted. Upon any adjustment of the Exercise Price, the Holder of this Warrant shall thereafter (until another
such adjustment) be entitled to purchase, at the new Exercise Price, the number of shares, calculated to the nearest full share, obtained
by multiplying the number of shares of Common Stock initially issuable upon exercise of this Warrant by the Exercise Price in effect
on the date hereof and dividing the product so obtained by the new Exercise Price.

 

(vi)
Common Stock Defined. Whenever reference is made in this paragraph 12 to the issue or sale of shares of Common Stock, the term
“Common Stock” shall mean the Common Stock of the Company of the class authorized as of the date hereof and any other class
of stock ranking on a parity with such Common Stock. However, subject to the provisions of paragraph 12 hereof, shares issuable upon
exercise hereof shall include only shares of the class designated as Common Stock of the Company as of the date hereof.

 

13.
Voluntary Adjustment by the Company. The Company may at any time during the term of this Warrant, reduce the then current Exercise
Price to any amount and for any period of time deemed appropriate by the Board of Directors of the Company.

 

14.
Notice of Adjustment. Whenever the number of Warrant Shares or number or kind of securities or other property purchasable upon
the exercise of this Warrant or the Exercise Price is adjusted, as herein provided, the Company shall promptly mail by registered or
certified mail, return receipt requested, to the holder of this Warrant notice of such adjustment or adjustments setting forth the number
of Warrant Shares (and other securities or property) purchasable upon the exercise of this Warrant and the Exercise Price of such Warrant
Shares (and other securities or property) after such adjustment, setting forth a brief statement of the facts requiring such adjustment
and setting forth the computation by which such adjustment was made. Such notice, in absence of manifest error, shall be conclusive evidence
of the correctness of such adjustment.

 

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15.
Notice of Corporate Action. If at any time:

 

(a)
the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive a dividend or other distribution,
or any right to subscribe for or purchase any evidences of its indebtedness, any shares of stock of any class or any other securities
or property, or to receive any other right, or

 

(b)
there shall be any capital reorganization of the Company, any reclassification or recapitalization of the capital stock of the Company
or any consolidation or merger of the Company with, or any sale, transfer or other disposition of all or substantially all the property,
assets or business of the Company to, another corporation or,

 

(c)
there shall be a voluntary or involuntary dissolution, liquidation or winding up of

the
Company;

 

then,
in any one or more of such cases, the Company shall give to Holder (i) at least 30 days’ prior written notice of the record date
for such dividend, distribution or right or for determining rights to vote in respect of any such reorganization, reclassification, merger,
consolidation, sale, transfer, disposition, liquidation or winding up, and (ii) in the case of any such reorganization, reclassification,
merger, consolidation, sale, transfer, disposition, dissolution, liquidation or winding up, at least 30 days’ prior written notice
of the date when the same shall take place. Such notice in accordance with the foregoing clause also shall specify (i) the date on which
the holders of Common Stock shall be entitled to any such dividend, distribution or right, and the amount and character thereof, and
(ii) the date on which any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, dissolution, liquidation
or winding up is to take place and the time, if any such time is to be fixed, as of which the holders of Common Stock shall be entitled
to exchange their shares of Common Stock for securities or other property deliverable upon such disposition, dissolution, liquidation
or winding up. Each such written notice shall be sufficiently given if addressed to Holder at the last address of Holder appearing on
the books of the Company and delivered in accordance with Section 18(d).

 

16.
Authorized Shares. The Company covenants that during the period the Warrant is outstanding, it will reserve from its authorized
and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase
rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers
who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for the Warrant Shares
upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to
assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements
of NASDAQ or any domestic securities exchange upon which the Common Stock may be listed.

 

    	7

     

    

 

The
Company shall not by any action, including, without limitation, amending its certificate of incorporation or through any reorganization,
transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid
the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of
all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder against impairment.
Without limiting the generality of the foregoing, the Company will (a) not increase the par value of any shares of Common Stock receivable
upon the exercise of this Warrant above the amount payable therefor upon such exercise immediately prior to such increase in par value,
(b) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable
shares of Common Stock upon the exercise of this Warrant, and (c) use its best efforts to obtain all such authorizations, exemptions
or consents from any public regulatory body having jurisdiction thereof as may be necessary to enable the Company to perform its obligations
under this Warrant.

 

Upon
the request of Holder, the Company will at any time during the period this Warrant is outstanding acknowledge in writing, in form reasonably
satisfactory to Holder, the continuing validity of this Warrant and the obligations of the Company hereunder.

 

Before
taking any action which would cause an adjustment reducing the current Exercise Price below the then par value, if any, of the shares
of Common Stock issuable upon exercise of the Warrants, the Company shall take any corporate action which may be necessary in order that
the Company may validly and legally issue fully paid and non-assessable shares of such Common Stock at such adjusted Exercise Price.

 

17.
Redemption. The Company shall have the right to redeem any or all outstanding and unexercised Warrants evidenced by this Certificate
at a redemption price of $0.001 per Warrant upon fourteen (14) days’ written notice in the event (i) a Registration Statement registering
for sale under the Securities Act of 1933, as amended (the “Act”), the shares of the Company’s Common Stock issuable
upon exercise of the Warrant, has been filed with the Securities and Exchange Commission and is in effect on the date of written notice
and the redemption date contained therein, (ii) there exists on the date of written notice a public trading market for the Company’s
Common Stock and such shares are listed for quotation on a national exchange or Nasdaq Capital Markets or the OTC.QB of the OTC Markets
Group, LLC, and (iii) the public trading price of the Company’s Common Stock has equaled or exceeded 200% of the Exercise Price,
as then in effect, for twenty (20) or more consecutive Trading Days immediately preceding the date of such notice. On each occasion that
the Company elects to exercise its rights of redemption, the Company must mail such written notice within ten (10) days following the
satisfaction of all of the foregoing conditions. The holders of the Warrants called for redemption shall have the right to exercise the
Warrants evidenced hereby until the close of business on the date next preceding the date fixed for redemption. On or after the date
fixed for redemption, the holder hereof shall have no rights with respect to this Warrant except the right to receive $0.001 per Warrant
upon surrender of this Certificate. Nothing contained in this Section 17 shall be construed to require or impose upon the Company the
obligation to register for resale under the Securities Act the Warrant Shares issuable upon exercise of this Warrant.

 

18.
Miscellaneous.

 

(a)
Jurisdiction. This Warrant shall be binding upon any successors or assigns of the Company. This Warrant shall constitute a contract
under the laws of Nevada without regard to its conflict of law, principles or rules, and be subject to arbitration pursuant to the terms
set forth in the Agreement.

 

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(b)
Restrictions. The holder hereof acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered,
will have restrictions upon resale imposed by state and federal securities laws and by the Agreement.

 

(c)
Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall
operate as a waiver of such right or otherwise prejudice Holder’s rights, powers or remedies, notwithstanding all rights hereunder
terminate on the Termination Date. If the Company fails to comply with any provision of this Warrant, the Company shall pay to Holder
such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees,
including those of appellate proceedings, incurred by Holder in collecting any amounts due pursuant hereto or in otherwise enforcing
any of its rights, powers or remedies hereunder.

 

(d)
Notices. Any notice, request or other document required or permitted to be given or delivered to the holder hereof by the Company
shall be delivered in accordance with the notice provisions of the Agreement.

 

(e)
Limitation of Liability. No provision hereof, in the absence of affirmative action by Holder to purchase shares of Common Stock,
and no enumeration herein of the rights or privileges of Holder hereof, shall give rise to any liability of Holder for the purchase price
of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

 

(f)
Remedies. Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be
entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive the defense in any action
for specific performance that a remedy at law would be adequate.

 

(g)
Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall
inure to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns of Holder. The provisions
of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and shall be enforceable by any such
Holder or holder of Warrant Shares.

 

(h)
Cooperation. The Company shall cooperate with Holder in supplying such information as may be reasonably necessary for Holder to
complete and file any information reporting forms presently or hereafter required by the SEC as a condition to the availability of an
exemption from the Securities Act for the sale of any Warrant or any Warrant Shares.

 

(i)
Indemnification. The Company agrees to indemnify and hold harmless Holder from and against any liabilities, obligations, losses,
damages, penalties, actions, judgments, suits, claims, costs, attorneys’ fees, expenses and disbursements of any kind which may
be imposed upon, incurred by or asserted against Holder in any manner relating to or arising out of any failure by the Company to perform
or observe in any material respect any of its covenants, agreements, undertakings or obligations set forth in this Warrant; provided,
however, that the Company will not be liable hereunder to the extent that any liabilities, obligations, losses, damages, penalties, actions,
judgments, suits, claims, costs, attorneys’ fees, expenses or disbursements are found in a final non-appealable judgment by a court
to have resulted from Holder’s negligence, bad faith or willful misconduct in its capacity as a stockholder or warrant holder of
the Company.

 

(j)
Amendment. This Warrant may be modified or amended or the provisions hereof waived only with the written consent of the Company
and the Holder.

 

(k)
Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall
be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining
provisions of this Warrant.

 

(l)
Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed
a part of this Warrant.

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized.

 

	Dated:
    _________, 2021	 
	 	 
	 	VITRO
    BIOPHARMA, INC., a Nevada corporation
	 	 	                 
	 	By:	 

 

    	9

     

    

 

NOTICE
OF EXERCISE

 

	To:	VITRO
    BIOPHARMA, INC.

 

The
undersigned hereby elects to purchase __________ shares of Common Stock (the “Common Stock”), of VITRO BIOPHARMA,
INC. pursuant to the terms of the attached Warrant, and tenders herewith payment of the exercise price in full, together with
all applicable transfer taxes, if any.

 

Please
issue a certificate or certificates representing said shares of Common Stock in the name of the undersigned or in such other name as
is specified below:

 

	 
	(Name)
	 
	 
	(Address)
	 
	 

 

	Dated: ____________________	 	 
	 	 	 
	 	 	 
	 	 	Signature

 

    	 

     

    

 

ASSIGNMENT
FORM

 

(To
assign the foregoing warrant, execute this form and supply required information. Do not use this form to exercise the warrant.)

 

FOR
VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to
________________________________________________________________________ whose address is ______________________________________________________________________________________________.

 

	 	Dated: __________________, ______
	 	 
	Holder’s
    Signature:	 
	 	 
	Holder’s
    Address:	 
	 	 

 

Signature
Guaranteed: _____________________________________________________

 

NOTE:
The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement
or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those acting in a fiduciary
or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.Exhibit
10.2 

 

Vitro
Biopharma, Inc.

 

2022
Omnibus Incentive Compensation Plan

 

    	 

     

    

 

Contents

 

	Article
    1.	Establishment,
    Objectives and Duration	1
	Article
    2	Definitions	1
	Article
    3.	Administration	6
	Article
    4.	Shares
    Subject to the Plan and Maximum Awards and Substituted Awards	7
	Article
    5.	Eligibility
    and Participation	9
	Article
    6.	Stock
    Options	10
	Article
    7.	Stock
    Appreciation Rights	12
	Article
    8	Restricted Stock/Stock Awards	13
	Article
    9.	Restricted
    Stock Units, Performance Units, Performance Shares, and Cash-Based Awards	14
	Article
    10.	Beneficiary
    Designation	15
	Article
    11.	Deferrals	16
	Article
    12.	Rights
    of Participants	16
	Article
    13.	Termination
    of Employment/Directorship/Consulting Relationship	16
	Article
    14.	Change
    in Control	16
	Article
    15.	Amendment,
    Modification, Termination and Tax Compliance.	18
	Article
    16.	Withholding	19
	Article
    17.	Successors	20
	Article
    18.	General
    Provisions	20

 

    	i

     

    

 

Article
1. Establishment, Objectives and Duration

 

1.1 Establishment
of the Plan. Vitro Biopharma, Inc., a Nevada corporation (hereinafter referred to as the “Company”), hereby adopts
the Company’s 2022 Omnibus Incentive Compensation Plan (hereinafter referred to as the “Plan”), as set forth
in this document. The Plan permits the grant of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted
Stock, Stock Awards, Restricted Stock Units, Performance Shares, Performance Units, Cash-Based Awards and Substitute Awards.

 

1.2 Objectives
of the Plan. The objectives of the Plan are to optimize the profitability and growth of the Company through annual and long-term
incentives that are consistent with the Company’s goals and that link the personal interests of Participants to those of the Company’s
stockholders, to provide Participants with an incentive for excellence in individual performance, and to promote teamwork among Participants.
The Plan is further intended to provide flexibility to the Company and its Affiliates in their ability to motivate, attract, and retain
the services of Participants who make significant contributions to the Company’s success and to allow Participants to share in
that success.

 

1.3 Duration
of the Plan. The Plan shall commence on the Effective Date and shall remain in effect, subject to the right of the Committee to amend
or terminate the Plan at any time pursuant to Article 15 hereof, until all Shares subject to it shall have been purchased or acquired
according to the Plan’s provisions. However, in no event may an Award be granted under the Plan on or after the tenth (10th) anniversary
of the Effective Date.

 

Article
2. Definitions

 

Whenever
used in the Plan, the following terms shall have the meanings set forth below, and when the meaning is intended, the initial letter of
the word shall be capitalized:

 

2.1 “Affiliate”
means a corporation or other entity that, directly or through one or more intermediaries, controls, is controlled by or is under
common control with, the Company.

 

2.2 “Applicable
Laws” means the requirements related to or implicated by the administration of the Plan under applicable state corporate law,
United States federal and state securities laws, the Code, any stock exchange or quotation system on which the Shares are listed or quoted,
and the applicable laws of any foreign country or jurisdiction where Awards are granted under the Plan.

 

2.3 “Award”
means, individually or collectively, a grant under this Plan of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation
Rights, Restricted Stock, Stock Awards, Restricted Stock Units, Performance Shares, Performance Units, Cash-Based Awards, or Substitute
Awards.

 

2.4 “Award
Agreement” means a written or electronic agreement entered into by the Company and each Participant setting forth the terms
and provisions applicable to Awards granted under this Plan.

 

2.5 “Beneficial
Owner” or “Beneficial Ownership” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under
the Exchange Act, except that in calculating the beneficial ownership of any particular Person, such Person shall be deemed to have beneficial
ownership of all securities that such Person has the right to acquire by conversion or exercise of other securities, whether such right
is currently exercisable or is exercisable only after the passage of time. The terms “Beneficially Owns” and “Beneficially
Owned” have a corresponding meaning.

 

    	 

     

    

 

2.6 “Board”
or “Board of Directors” means the Board of Directors of the Company.

 

2.7 “Cash-Based
Award” means an Award granted to a Participant whose value is denominated in cash as described in Article 9 hereof.

 

2.8 “Change
in Control” means the first to occur of the following:

 

(a) the
acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) of the Exchange Act) (a “Person”),
of Beneficial Ownership of 50% or more of the combined voting power of the then-outstanding voting securities of the Company entitled
to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that,
for purposes of this Section, the following acquisitions by a Person resulting in Beneficial Ownership of 50% or more of the Outstanding
Company Voting Securities shall not constitute a Change in Control: (A) any acquisition by the Company or an Affiliate, (B) any acquisition
by any employee benefit plan (or related trust) sponsored or maintained by the Company or one of its Affiliates, (C) any acquisition
pursuant to a transaction that complies with (c)(i), (c)(ii) and (c)(iii) below, (D) in respect of an Award held by a particular Participant,
any acquisition by the Participant or any group of persons including the Participant (or any entity controlled by the Participant or
any group of persons including the Participant) of Outstanding Company Voting Securities pursuant to such Award;

 

(b)
at any time during a period of 24 consecutive months, the Incumbent Directors cease for any reason to constitute a majority of the Board;

 

(c)
consummation of a reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving the Company
or any of its Subsidiairies with any other corporation or entity that requires the approval of the Company’s shareholders, whether
for such transaction or the issuance of securities in the transaction (a “Business Combination”), unless immediately
following such Business Combination (i) more than 50% of the total voting power of (A) the entity resulting from such Business Combination
(the “Surviving Company”), or (B) if applicable, the ultimate parent entity that directly or indirectly has beneficial
ownership of sufficient voting securities eligible to elect a majority of the members of the board of directors (or the analogous governing
body) of the Surviving Company (the “Parent Company”), is represented by the Outstanding Company Voting Securities
that were outstanding immediately prior to such Business Combination (or, if applicable, is represented by shares into which the Outstanding
Company Voting Securities were converted pursuant to such Business Combination), and such voting power among the holders thereof is in
substantially the same proportion as the voting power of the Outstanding Company Voting Securities among the holders thereof immediately
prior to the Business Combination; (ii) no Person (other than any employee benefit plan sponsored or maintained by the Surviving Company
or the Parent Company) is or becomes the Beneficial Owner, directly or indirectly, of 50% or more of the total voting power of the outstanding
voting securities eligible to elect members of the board of directors of the Parent Company (or the analogous governing body) (or, if
there is no Parent Company, the Surviving Company); and (iii) at least a majority of the members of the board of directors (or the analogous
governing body) of the Parent Company (or, if there is no Parent Company, the Surviving Company) following the consummation of the Business
Combination were Board members at the time of the Board’s approval of the execution of the initial agreement providing for such
Business Combination; or

 

    	2

     

    

 

(d)
The direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series
of related transactions, within a 12-month period, of the properties or assets of the Company and its Subsidiaries having an aggregate
fair market value of more than 50 percent of the fair market value of the Company and its Subsidiaries immediately prior to such transaction(s),
taken as a whole, to any Person that is not a Subsidiary of the Company.

 

Notwithstanding
the foregoing, (i) with respect to a Section 409A Award, the Committee may specify that the definition of Change in Control must also
constitute an event that is a change in ownership or effective control of the Company or a change in the ownership of a substantial portion
of the assets of the Company within the meaning of Section 409A and (ii) in no event will the acquisition of securities of the Company,
Parent Company, Affiliate or Subsidiary pursuant to an offer made to the general public through a registration statement filed with the
Securities and Exchange Commission constitute a Change in Control for purposes of this Plan or any Award.

 

The
Committee shall have full and final authority, which shall be exercised in its discretion, to determine conclusively whether a Change
in Control of the Company has occurred pursuant to the above definition, and the date of the occurrence of such Change in Control and
any incidental matters relating thereto.

 

2.9 “Code”
means the Internal Revenue Code of 1986, as amended from time to time. Any reference to a section of the Code shall be deemed to
include a reference to any regulations promulgated thereunder.

 

2.10 “Committee”
means the Board, or any committee appointed by the Board, to administer Awards to Participants, as specified in Article 3 hereof.

 

2.11 “Company”
means Vitro Biopharma, Inc., a Nevada corporation and any successor thereto as provided in Article 17 hereof.

 

2.12 “Consultant”
means a consultant or adviser who provides bona fide services to the Company, a Subsidiary or an Affiliate as an independent contractor
and who qualifies as a consultant or advisor under Instruction A.1.(a)(1) of Form S-8 under the Securities Act; provided, that, for
purposes of determining eligibility to receive Nonqualified Stock Options or Stock Appreciation Rights, a Consultant shall mean an employee
of the Company or a Subsidiary.

 

2.13 “Director”
means any individual who is a member of the Board of Directors of the Company; provided, however, (i) that any Director who is employed
by the Company shall be considered an Employee under the Plan and (ii) for purposes of determining eligibility to receive Nonqualified
Stock Options or Stock Appreciation Rights, an Employee shall mean an employee of the Company or a Subsidiary.

 

2.14 “Disability”
shall have the meaning ascribed to such term in the Award Agreement. If no such definition is provided in the Award Agreement, “Disability”
shall mean a medically determinable physical or mental impairment which can be expected to result in death or has lasted or can be expected
to last for a continuous period of not less than six months if such disabling condition renders the person unable to perform the material
and substantial duties of his or her occupation. With respect to Section 409A Awards that become payable upon a disability, such disability
must also qualify as a disability within the meaning of Treasury Regulation 1.409A-3(i)(4).

 

2.15
“Effective Date” means February 7, 2022, the date as of which this Plan is adopted by the Board.

 

    	3

     

    

 

2.16 “Employee”
means any employee of the Company or its Subsidiaries or Affiliates; provided, that, (i) for purposes of determining eligibility
to receive Incentive Stock Options, an Employee shall mean an employee of the Company or a parent or subsidiary corporation within the
meaning of Section 424 of the Code and (ii) for purposes of determining eligibility to receive Nonqualified Stock Options or Stock Appreciation
Rights, an Employee shall mean an employee of the Company or a Subsidiary. Mere service as a Director or payment of a director’s
fee by the Company, a Subsidiary or an Affiliate shall not be sufficient to constitute “employment” by the Company, a Subsidiary
or an Affiliate.

 

2.17 “Exchange
Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor act thereto.

 

2.18 “Fair
Market Value” as of any date and in respect of any Share means if the Shares are listed on any established stock exchange or
a national market system or the OTC Ventures Market, the Fair Market Value shall be the closing price of a Share (or if no sales were
reported the closing price on the date immediately preceding such date) as quoted on such exchange or system on the day of determination,
as reported in as reported in a source the Committee deems reliable; provided that, if Shares shall not have been traded on a national
securities exchange or the or the OTC Ventures Market for more than 10 days immediately preceding such date or if deemed appropriate
by the Committee for any other reason, the fair market value of Shares shall be as determined by the Committee in such other manner as
it may deem appropriate, provided that such valuation is consistent with the requirements of Section 409A. In no event shall the fair
market value of any Share be less than its par value.

 

2.19 “Freestanding
SAR” means an SAR that is granted independently of any Options, as described in Article 7 hereof.

 

2.20 “Incentive
Stock Option” or “ISO” means an option to purchase Shares granted under Article 6 hereof and that is designated
as an Incentive Stock Option and that is intended to meet the requirements of Code Section 422. To the extent that an option is granted
that is intended to meet the requirements of Code Section 422, but fails to meet such requirements, the option will be treated as a NQSO.

 

2.21 “Incumbent
Directors” means individuals who, on the Effective Date, constitute the Board, provided that any individual becoming
a Director subsequent to the Effective Date whose election or nomination for election to the Board was approved by a vote of at least
two-thirds of the Incumbent Directors then on the Board shall be an Incumbent Director. No individual initially elected or nominated
as a director of the Company as a result of an actual or threatened election contest with respect to Directors or as a result of any
other actual or threatened solicitation of proxies by or on behalf of any person other than the Board shall be an Incumbent Director.

 

2.22 “Insider”
shall mean an individual who is, on the relevant date, an executive officer, director or ten percent (10%) beneficial owner of any
class of the Company’s equity securities that is registered pursuant to Section 12 of the Exchange Act, all as defined under Section
16 of the Exchange Act.

 

2.23 “Non-Employee
Director” means a Director who is a “non-employee director” within the meaning of Rule 16b-3 or its successors
under the Exchange Act.

 

2.24 “Nonqualified
Stock Option” or “NQSO” means an option to purchase Shares granted under Article 6 hereof and that is not
intended to be treated as an Incentive Stock Option, or that otherwise does not meet such requirements.

 

2.25 “Option”
means an Incentive Stock Option or a Nonqualified Stock Option, as described in Article 6 hereof.

 

    	4

     

    

 

2.26 “Option
Price” means the price at which a Share may be purchased by a Participant pursuant to an Option.

 

2.27 “Participant”
means an Employee, a Director or a Consultant who has been selected to receive an Award or who has outstanding an Award granted under
the Plan.

 

2.28 “Performance
Share” means an Award granted to a Participant whose value is denominated in Shares and is earned by satisfaction of specified
performance goals and such other terms and conditions that the Committee may specify, as described in Article 9 hereof.

 

2.29 “Performance
Unit” means an Award granted to a Participant whose value is specified by the Committee and is earned by satisfaction of specified
performance goals and such other terms and conditions that the Committee may specify, as described in Article 9 hereof.

 

2.30 “Period
of Restriction” means the period during which the transfer of Shares of Restricted Stock is not permitted (e.g., based on the
passage of time, the achievement of performance goals, or upon the occurrence of other events as determined by the Committee, at its
discretion), and the Shares are subject to a substantial risk of forfeiture, pursuant to the Restricted Stock Award Agreement, as provided
in Article 8 hereof.

 

2.31 “Person”
shall have the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof,
including a “group” as defined in Section 13(d) thereof.

 

2.32 “Restricted
Stock” means an Award granted to a Participant pursuant to Article 8 hereof.

 

2.33 “Restricted
Stock Units” means an Award granted to a Participant whose value is denominated in Shares and is earned by satisfaction of
specified service requirements and such other terms and conditions that the Committee may specify, as described in Article 9 hereof.

 

2.34 “Section
409A” means Code Section 409A and the regulations and other guidance issued thereunder.

 

2.35 “Section
409A Award” means an Award that is subject to the requirements of Section 409A.

 

2.36 “Securities
Act” means the Securities Act of 1933, as amended from time to time, or any successor act thereto.

 

2.37 “Shares”
means the Company’s common stock, par value $0.001 per share.

 

2.38 “Stock
Appreciation Right” or “SAR” means an Award, granted alone or in connection with a related Option, designated
as an SAR, pursuant to the terms of Article 7 hereof.

 

2.39 “Stock
Award” means an Award of Shares granted to a Participant pursuant to Section 8.8 hereof.

 

2.40 “Subsidiary”
means any entity (other than the Company), whether domestic or foreign, in an unbroken chain of entities beginning with the Company
if each of the entities other than the last entity in the unbroken chain beneficially owns, at the time of the determination, securities
or interests representing at least 50% of the total combined voting power of all classes of securities or interests in one of the other
entities in such chain.

 

    	5

     

    

 

2.41 “Substitute
Awards” means Awards granted upon assumption of, or in substitution for, outstanding equity or equity-based awards previously
granted by a company or other entity (i) all or a portion of the assets or equity of which is acquired by the Company, a Subsidiary or
an Affiliate, or (ii) with which the Company, Subsidiary or an Affiliate merges or otherwise combines.

 

2.42 “Tandem
SAR” means an SAR that is granted in connection with a related Option pursuant to Article 7 hereof, the exercise of which shall
require forfeiture of the right to purchase a Share under the related Option (and when a Share is purchased under the Option, the Tandem
SAR shall similarly be canceled).

 

Article
3. Administration

 

3.1 General.
Subject to the terms and conditions of the Plan, the Plan shall be administered by the Committee. The members of the Committee shall
be appointed from time to time by, and shall serve at the discretion of, the Board of Directors. The Committee shall have the authority
to delegate administrative duties to officers of the Company.

 

3.2 Authority
of the Committee. Except as limited by law or by the certificate of incorporation or bylaws of the Company, and subject to the provisions
herein (including, with respect to Section 409A Awards, the requirements of Section 409A), the Committee shall have full power to select
Employees, Directors and Consultants who shall participate in the Plan; determine the sizes and types of Awards; determine the terms
and conditions, including vesting criteria, of Awards in a manner consistent with the Plan; construe and interpret the Plan and any agreement
or instrument entered into under the Plan; reconcile any inconsistency in, correct any defect in and/or supply any omission in the Plan
and any instrument or agreement relating to, or Award granted under, the Plan; establish, amend, or waive rules and regulations for the
Plan’s administration; and amend the terms and conditions of any outstanding Award as provided in the Plan. Further, the Committee
shall make all other determinations and exercise its discretion as it deems necessary or advisable for the administration of the Plan.
As permitted by law and the terms of the Plan, the Committee may delegate its authority herein. No member of the Committee shall be liable
for any action taken or decision made in good faith relating to the Plan or any Award granted hereunder.

 

3.3 Decisions
Binding. All determinations and decisions made by the Committee pursuant to the provisions of the Plan and all related orders and
resolutions of the Committee shall be final, conclusive, and binding on all persons, including the Company, its stockholders, Directors,
Employees, Participants, and their estates and beneficiaries, unless changed by the Board.

 

3.4 Delegation.
The Committee or, if no Committee has been appointed, the Board may delegate administration of the Plan to a committee or committees
of one or more members of the Board, and the term “Committee” shall apply to any person or persons to whom such authority
has been delegated. The Committee shall have the power to delegate to a subcommittee any of the administrative powers the Committee is
authorized to exercise (and references in this Plan to the Board or the Committee shall thereafter be to the committee or subcommittee),
subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board.
The Board may abolish the Committee at any time and revest in the Board the administration of the Plan. The members of the Committee
shall be appointed by and serve at the pleasure of the Board. From time to time, the Board may increase or decrease the size of the Committee,
add additional members to, remove members (with or without cause) from, appoint new members in substitution therefor, and fill vacancies,
however caused, in the Committee. The Committee shall act pursuant to a vote of the majority of its members or, in the case of a Committee
comprised of only two members, the unanimous consent of its members, whether present or not, or by the written consent of the majority
of its members and minutes shall be kept of all of its meetings and copies thereof shall be provided to the Board. Subject to the limitations
prescribed by the Plan and the Board, the Committee may establish and follow such rules and regulations for the conduct of its business
as it may determine to be advisable.

 

    	6

     

    

 

3.5 Committee
Composition. The Board shall have discretion to determine whether or not it intends to comply with the exemption requirements of
Rule 16b-3 or its successors under the Exchange Act. However, if the Board intends to satisfy such exemption requirements, with respect
to any insider subject to Section 16 of the Exchange Act, the Committee shall be a compensation committee of the Board that at all times
consists solely of two or more Non-Employee Directors. Within the scope of such authority, the Board or the Committee may delegate to
a committee of one or more members of the Board who are not Non-Employee Directors the authority to grant Awards to eligible persons
who are not then subject to Section 16 of the Exchange Act. Nothing herein shall create an inference that an Award is not validly granted
under the Plan in the event Awards are granted under the Plan by a compensation committee of the Board that does not at all times consist
solely of two or more Non-Employee Directors.

 

3.6 Indemnification.
In addition to such other rights of indemnification as they may have as Directors or members of the Committee, and to the extent allowed
by Applicable Laws, the Committee shall be indemnified by the Company against the reasonable expenses, including attorney’s fees,
actually incurred in connection with any action, suit or proceeding or in connection with any appeal therein, to which the Committee
may be party by reason of any action taken or failure to act under or in connection with the Plan or any Award granted under the Plan,
and against all amounts paid by the Committee in settlement thereof (provided, however, that the settlement has been approved
by the Company, which approval shall not be unreasonably withheld) or paid by the Committee in satisfaction of a judgment in any such
action, suit or proceeding, except in relation to matters as to which it shall be adjudged in such action, suit or proceeding that such
Committee did not act in good faith and in a manner which such person reasonably believed to be in the best interests of the Company,
or in the case of a criminal proceeding, had no reason to believe that the conduct complained of was unlawful; provided, however,
that within 60 days after the institution of any such action, suit or proceeding, such Committee shall, in writing, offer the Company
the opportunity at its own expense to handle and defend such action, suit or proceeding.

 

Article
4. Shares Subject to the Plan and Maximum Awards and Substituted Awards

 

4.1 Number
of Shares Available for Grants; Share Counting and Reacquired Shares. The number of Shares reserved for issuance to Participants
shall be four million (4,000,000). Shares issued under the Plan may be authorized but unissued shares or treasury shares. The number
of Shares reserved for issuance to Participants under the Plan is subject to adjustment as provided in Section 4.2 hereof.

 

For
purposes of counting the number of Shares available for Awards under the Plan, the full number of shares of the Company’s common
stock covered by Freestanding SARs shall be counted against the number of Shares available for Awards (i.e., not the net Shares issued
in satisfaction of a Freestanding SAR Award); provided, however, that Freestanding SARs that may be settled in cash only shall not be
so counted. Additionally, if an Option may be settled by issuing net Shares (i.e., withholding a number of Shares equal to the exercise
price), the full number of shares of the Company’s common stock covered by the Option shall be counted against the number of Shares
available for Awards, not the net Shares issued in satisfaction of an Option. If any Award expires or is terminated, surrendered or canceled
without having been fully exercised or is forfeited in whole or in part, the unissued Shares covered by such Award shall again be available
for the grant of Awards; provided, however, in the case of Incentive Stock Options, the foregoing shall be subject to any limitations
under the Code. The following Shares shall not be added back to the number of Shares available for the future grant of Awards: (i) shares
of the Company’s common stock tendered to the Company by a Participant to (A) purchase shares of the Company’s common stock
upon the exercise of an Award, or (B) satisfy tax withholding obligations (including shares retained from the Award creating the tax
obligation); (ii) shares of the Company’s common stock that were subject to a stock-settled SAR granted under the Plan that were
not issued upon the exercise of such SAR, and (iii) shares of the Company’s common stock repurchased by the Company on the open
market using the proceeds from the exercise of an Award. Subject to the foregoing, the Committee shall determine the appropriate methodology
for calculating the number of Shares issued pursuant to the Plan.

 

    	7

     

    

 

The
maximum number of Shares which may be issued under Incentive Stock Options granted under the Plan is four million (4,000,000).

 

4.2 Adjustments
in Authorized Shares. In the event of material changes in the outstanding number of Shares or in the capital structure of the Company
by reason of a stock split, stock or extraordinary dividend, a reverse stock split, or an extraordinary corporate transaction, such as
any recapitalization, merger, consolidation, combination, exchange of shares or the like, separation, including a spin-off, or other
distribution of stock or property of the Company, any reorganization (whether or not such reorganization comes within the definition
of such term in Code Section 368) or any partial or complete liquidation of the Company, the Committee shall make an appropriate adjustment
in the number and class of Shares that may be delivered under Section 4.1, and in the number, class of and/or price of Shares subject
to outstanding Awards granted under the Plan, as may be determined to be equitable by the Committee, in its sole discretion, to prevent
dilution or enlargement of rights. In the case of adjustments made pursuant to this Section 4.2, unless the Committee specifically determines
that such adjustment is in the best interests of the Company or its Affiliates, the Committee shall, in the case of Incentive Stock Options,
ensure that any adjustments under this Section 4.2 will not constitute a modification, extension or renewal of the Incentive Stock Options
within the meaning of Section 424(h)(3) of the Code and in the case of Nonqualified Stock Options, ensure that any adjustments under
this Section 4.2 will not constitute a modification of such Nonqualified Stock Options within the meaning of Section 409A of the Code.
Any adjustments made under this Section 4.2 shall be made in a manner which does not adversely affect the exemption provided pursuant
to Rule 16b-3 under the Exchange Act. The Company shall give each Participant notice of an adjustment hereunder and, upon notice, such
adjustment shall be conclusive and binding for all purposes.

 

4.3 Adjustment
of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events. The Committee may make adjustments in the terms and conditions
of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including, without limitation, the events
described in Section 4.2 hereof) affecting the Company or the financial statements of the Company or of changes in applicable laws, regulations,
or accounting principles, whenever the Committee determines that such adjustments are appropriate in order to prevent dilution or enlargement
of the benefits or potential benefits intended to be made available under the Plan.

 

4.4 Limit
on Compensation Paid to Directors. The total compensation paid to a single Director in any calendar year, including the cash compensation
and the cash value of all equity Awards granted to the Director in such calendar year, shall not exceed $1,000,000. Such annual limit
shall be measured based on the value of an Award as of the date the Award is granted (not the date of payment). Accordingly, the annual
limit shall not include the value of an Award in the calendar year when it is paid or vests if such year is different from the year the
Award is granted. For purposes of this Section 4.4, Director compensation in any calendar year shall include amounts or grants that would
have been paid or made, as applicable, to the Director in the calendar year absent the Director’s election to defer such compensation
to a subsequent year.

 

4.5 Substitute
Awards.

 

(a) Notwithstanding
any terms or conditions of the Plan to the contrary, Substitute Awards may have substantially the same terms and conditions, including
without limitation provisions relating to vesting, exercise periods, expiration, payment, forfeiture, and the consequences of termination
of service, as the awards that they replace, as determined by the Committee in its sole discretion.

 

    	8

     

    

 

(b) The
recipient or holder of a Substitute Award shall be an eligible Participant hereunder even if not an Employee, Director or Consultant
with respect to the Company or an Affiliate.

 

(c) In
the case of a Substitute Award, the date of grant may be treated as the effective date of the grant of such Award under the original
plan under which the award was authorized.

 

(d) The
per share exercise price of an Option that is a Substitute Award may be less than 100% of the Fair Market Value of a Share on the date
of grant, provided that such substitution or adjustment complies with applicable laws and regulations, including the listing requirements
of any national securities exchange on which the Company’s common stock may then be listed or quoted and Section 409A or Section
424 of the Code, as applicable. The per share exercise price of a Freestanding SAR that is a Substitute Award may be less than 100% of
the Fair Market Value of a Share on the date of grant, provided that such substitution or adjustment complies with applicable laws and
regulations, including the listing requirements of any national securities exchange on which the Company’s common stock may then
be listed or quoted and Section 409A, as applicable.

 

(e) Notwithstanding
anything to the contrary in this Plan, any Shares underlying Substitute Awards shall not be counted against the limits set forth in Section
4.1, provided, that, Substitute Awards issued in connection with the assumption of, or in substitution for, outstanding options
intended to qualify as Incentive Stock Options shall be counted against the Incentive Stock Option limit. Subject to applicable stock
exchange requirements and Applicable Law, available shares under a shareholder-approved plan of an entity directly or indirectly acquired
by the Company or with which the Company combines (as appropriately adjusted to reflect such acquisition or transaction) may be used
for Awards under the Plan and shall not count toward the total share limit in Section 4.1.

 

Article
5. Eligibility and Participation

 

5.1 Eligibility.
Persons eligible to participate in this Plan include all Employees, Directors and Consultants.

 

5.2 Actual
Participation. Subject to the provisions of the Plan, the Committee may, from time to time, select from all eligible Employees, Directors
and Consultants, those to whom Awards shall be granted and shall determine the nature and amount of each Award.

 

5.3 Newly
Eligible Participants. The Committee shall be entitled to make such rules, regulations, determinations and awards as it deems appropriate
in respect of any Participant who becomes eligible to participate in the Plan.

 

5.4 Leaves
of Absence. The Committee shall be entitled to make such rules, regulations, and determinations as it deems appropriate under the
Plan in respect of any leave of absence taken by the recipient of any award. Without limiting the generality of the foregoing, the Committee
shall be entitled to determine: (a) whether or not any such leave of absence shall constitute a termination of employment within the
meaning of the Plan; and (b) the impact, if any, of such leave of absence on awards under the Plan theretofore made to any recipient
who takes such leave of absence. Notwithstanding the foregoing, with respect to any Section 409A Award, all leaves of absences and determinations
of terminations of employment must be construed and interpreted consistent with the requirements of Section 409A and the definition of
“separation from service” thereunder.

 

    	9

     

    

 

Article
6. Stock Options

 

6.1 Grant
of Options. Subject to the terms and provisions of the Plan, Options may be granted to Participants in such number, and upon such
terms, and at any time and from time to time as shall be determined by the Committee. Notwithstanding the foregoing, (i) Incentive Stock
Options may only be granted to Employees of the Company or its Affiliates or Subsidiaries; provided that the Affiliate or Subsidiary
is a type of entity whose employees can receive such options under Code Sections 422 and 424 and (ii) Nonqualified Stock Options may
only be granted to Employees, Consultants or Directors of the Company or its Subsidiaries.

 

6.2 Award
Agreement. Each Option grant shall be evidenced by an Award Agreement that shall specify the Option Price, the duration of the Option,
the number of Shares to which the Option pertains, and such other provisions as the Committee shall determine which are not inconsistent
with the terms of the Plan. All Options shall be separately designated Incentive Stock Options or Nonqualified Stock Options at the time
of grant. Notwithstanding the foregoing, the Company shall have no liability to any Participant or any other person if an Option designated
as an Incentive Stock Option fails to qualify as such at any time or if an Option is determined to constitute “nonqualified deferred
compensation” within the meaning of Section 409A of the Code and the terms of such Option do not satisfy the requirements of Section
409A of the Code. The provisions of separate Options need not be identical.

 

6.3 Option
Price. The Option Price for each grant of an Option under this Plan shall be as determined by the Committee; provided, however, the
per-share exercise price shall not be less than 100 percent of the Fair Market Value of the Shares on the date the Option is granted.
With respect to a Participant who owns, directly or indirectly, more than 10% of the total combined voting power of all classes of the
stock of the Company or any Subsidiary, the Option Price of Shares subject to an ISO shall be at least 110% of the Fair Market Value
of such Shares on the ISO’s grant date. Notwithstanding the foregoing, an Incentive Stock Option may be granted with an Option
Price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another
option in a manner satisfying the provisions of Section 424(a) of the Code and a Nonqualified Stock Option may be granted with an Option
Price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another
option in a manner satisfying the provisions of Section 409A of the Code.

 

6.4 Duration
of Options. Each Option granted to a Participant shall expire at such time as the Committee shall determine at the time of grant;
provided that the Option must expire on or before the date that is the tenth anniversary of the date of grant. Notwithstanding the foregoing,
with respect to ISOs, in the case of a Participant who owns, directly or indirectly, more than 10% of the total combined voting power
of all classes of the stock of the Company, Affiliate or any Subsidiary as determined in accordance with Section 422 of the Code, no
such ISO shall be exercisable later than the fifth anniversary of the grant date.

 

6.5 Exercise
of Options. Options granted under this Article 6 shall be exercisable at such times and be subject to such restrictions and conditions
as the Committee shall in each instance approve, which need not be the same for each grant or for each Participant.

 

6.6 Payment.
Options granted under this Article 6 shall be exercised by the delivery of a written or electronic notice of exercise to the Company,
setting forth the number of Shares with respect to which the Option is to be exercised, accompanied by full payment for the Shares.

 

    	10

     

    

 

The
Option Price upon exercise of any Option shall be payable to the Company in full, to the extent permitted by applicable statutes and
regulations, either: (a) in cash or its equivalent; or (b) by tendering previously acquired Shares having an aggregate Fair Market Value
at the time of exercise equal to the total Option Price; or (c) in the case of Nonqualified Stock Options, by a “net exercise”
arrangement pursuant to which the Company will reduce the number of Shares issuable upon exercise by the largest whole number of Shares
with a Fair Market Value on the date of exercise that does not exceed the exercise price, provided that (1) such Shares used to pay the
exercise price will not be exercisable thereafter and (2) any remaining balance of the exercise price not satisfied by such net exercise
is paid by the Participant in cash or other permitted form of payment; or (d) by a combination of (a), (b) and (c); or (d) any other
method approved by the Committee in its sole discretion. The tendering of previously acquired shares may be done through attestation.
No fractional shares may be tendered or accepted in payment of the Option Price. No Incentive Stock Option may utilize net exercise to
pay the Option Price.

 

Cashless
exercises are permitted pursuant to Federal Reserve Board’s Regulation T, subject to applicable securities law restrictions, or
by any other means which the Committee determines to be consistent with the Plan’s purpose and applicable law.

 

Subject
to any governing rules or regulations, as soon as practicable after receipt of notification of exercise and full payment, the Company
shall deliver to the Participant, in the Participant’s name, Share certificates in an appropriate amount based upon the number
of Shares purchased under the Option(s).

 

Unless
otherwise determined by the Committee, all payments under all methods indicated above shall be paid in United States dollars.

 

6.7 Restrictions
on Share Transferability. The Committee may impose such restrictions on any Shares acquired pursuant to the exercise of an Option
granted under this Article 6 as it may deem advisable, including, without limitation, restrictions under applicable federal securities
laws, under the requirements of any stock exchange or market upon which such Shares are then listed and/or traded, or under any blue
sky or state securities laws applicable to such Shares.

 

6.8
Non-transferability of Options.

 

(a) Incentive
Stock Options. No ISO granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated,
other than by will or by the laws of descent and distribution. Further, all ISOs granted to a Participant under the Plan shall be exercisable
during his or her lifetime only by such Participant.

 

(b)
Non-qualified  Stock Options. Except as otherwise provided in a Participant’s Award Agreement, no NQSO granted
under this Article 6 may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the
laws of descent and distribution; provided however, that no NQSO shall be transferable for value or consideration. Further, except as
otherwise provided in a Participant’s Award Agreement, all NQSOs granted to a Participant under this Article 6 shall be exercisable
during his or her lifetime only by such Participant or such Participant’s legal representative.

 

6.9 Restriction
on Cash Buyouts of Underwater Options. The Company may not purchase, cancel or buy out an underwater Option in exchange for cash
without first obtaining shareholder approval.

 

    	11

     

    

 

6.10 $100,000
Limitation on ISOs. To the extent that the aggregate Fair Market Value (determined at the time of grant) of the Shares with respect
to which ISOs are exercisable for the first time by any Participant during any calendar year (under all plans of the Company and any
Affiliates as determined in accordance with Section 422 of the Code) exceeds $100,000 (or such other limit established in the Code) or
otherwise does not comply with the rules governing ISOs, the Options or portions thereof that exceed such limit (according to the order
in which they were granted) or otherwise do not comply with such rules will be treated as NQSOs, notwithstanding any contrary provision
of the applicable Award Agreement.

 

6.11 Vesting
of Options. Each Option may, but need not, vest and therefore become exercisable in periodic installments that may, but need not,
be equal. The Option may be subject to such other terms and conditions on the time or times when it may be exercised (which may be based
on performance or other criteria) as the Committee may deem appropriate. The vesting provisions of individual Options may vary. No Option
may be exercised for a fraction of a Share. The Committee may, but shall not be required to, provide for an acceleration of vesting and
exercisability in the terms of any Award Agreement upon the occurrence of a specified event.

 

Article
7. Stock Appreciation Rights

 

7.1 Grant
of SARs. Subject to the terms and conditions of the Plan, SARs may be granted to Participants at any time and from time to time as
shall be determined by the Committee. The Committee may grant Freestanding SARs, Tandem SARs, or any combination of these forms of SARs.

 

Subject
to the terms and conditions of the Plan, the Committee shall have complete discretion in determining the number of SARs granted to each
Participant and, consistent with the provisions of the Plan, in determining the terms and conditions pertaining to such SARs. Any Tandem
SAR that relates to an Incentive Stock Option must be granted at the same time the Incentive Stock Option is granted.

 

The
grant price of a Freestanding SAR shall not be less than the Fair Market Value of a Share on the date of grant of the SAR. The grant
price of Tandem SARs shall equal the Option Price of the related Option.

 

7.2 SAR
Agreement. Each SAR grant shall be evidenced by an Award Agreement that shall specify the grant price, the term of the SAR, and such
other provisions as the Committee shall determine.

 

7.3 Term
of SARs. The term of an SAR granted under the Plan shall be determined by the Committee, in its sole discretion; provided that the
SAR must expire on or before the date that is the tenth anniversary of the date of grant.

 

7.4 Exercise
of Freestanding SARs. Freestanding SARs may be exercised upon whatever terms and conditions the Committee, in its sole discretion,
imposes upon them.

 

7.5 Exercise
of Tandem SARs. Tandem SARs may be exercised for all or part of the Shares subject to the related Option upon the surrender of the
right to exercise the equivalent portion of the related Option. A Tandem SAR may be exercised only with respect to the Shares for which
its related Option is then exercisable.

 

7.6 Payment
of SAR Amount. Upon exercise of an SAR, a Participant shall be entitled to receive payment from the Company in an amount determined
by multiplying:

 

(a) The
excess of the Fair Market Value of a Share on the date of exercise over the grant price; by

 

(b) The
number of Shares with respect to which the SAR is exercised.

 

    	12

     

    

 

In
the sole discretion of the Committee, the payment upon SAR exercise may be in cash, in Shares of equivalent value, in some combination
thereof, or in any other manner approved by the Committee. The Committee’s determination regarding the form of SAR payout shall
be set forth in the Award Agreement pertaining to the grant of the SAR.

 

7.7
Non-transferability of SARs. Except as otherwise provided in a Participant’s Award Agreement, no SAR granted under the
Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent
and distribution. Further, except as otherwise provided in a Participant’s Award Agreement, all SARs granted to a Participant under
the Plan shall be exercisable during his or her lifetime only by such Participant or such Participant’s legal representative.

 

7.8 Restriction
on Cash Buyouts of Underwater SARs. The Company may not purchase, cancel or buy out an underwater SAR in exchange for cash without
first obtaining Shareholder approval.

 

7.9 Vesting.
Each SAR may, but need not, vest and therefore become exercisable in periodic installments that may, but need not, be equal. The SAR
may be subject to such other terms and conditions on the time or times when it may be exercised as the Committee may deem appropriate.
The vesting provisions of individual SARs may vary. No SARs may be exercised for a fraction of a Share. The Committee may, but shall
not be required to, provide for an acceleration of vesting and exercisability in the terms of any SAR upon the occurrence of a specified
event.

 

Article
8. Restricted Stock/Stock Awards

 

8.1 Grant
of Restricted Stock. Subject to the terms and provisions of the Plan, the Committee, at any time and from time to time, may grant
Shares of Restricted Stock to Participants in such amounts, as the Committee shall determine.

 

8.2 Restricted
Stock Agreement. Each Restricted Stock grant shall be evidenced by a Restricted Stock Award Agreement that shall specify the Period(s)
of Restriction, the number of Shares of Restricted Stock granted, and such other provisions as the Committee shall determine.

 

8.3 Transferability.
Unless otherwise specified by the Committee in its sole discretion and set forth in the Restricted Stock Award Agreement, the Shares
of Restricted Stock granted herein may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the
end of the applicable Period of Restriction established by the Committee and specified in the Restricted Stock Award Agreement, or upon
earlier satisfaction of any other conditions, as specified by the Committee in its sole discretion and set forth in the Restricted Stock
Award Agreement. All rights with respect to the Restricted Stock granted to a Participant under the Plan shall be available during his
or her lifetime only to such Participant or such Participant’s legal representative.

 

8.4 Period
of Restriction. With respect to Restricted Stock grants, the Period of Restriction will commence on the date of grant and end at
the time or times set forth on a schedule established by the Committee in the applicable Award Agreement.

 

8.5 Other
Restrictions. The Committee shall impose such other conditions and/or restrictions on any Shares of Restricted Stock granted pursuant
to the Plan as it may deem advisable including, without limitation, a requirement that Participants pay a stipulated purchase price for
each Share of Restricted Stock, restrictions based upon the achievement of specific performance goals, time-based restrictions on vesting
following the attainment of the performance goals, time-based restrictions, and/or restrictions under applicable federal or state securities
laws.

 

    	13

     

    

 

To
the extent deemed appropriate by the Committee, the Company may retain the certificates representing Shares of Restricted Stock in the
Company’s possession until such time as all conditions and/or restrictions applicable to such Shares have been satisfied.

 

Shares
of Restricted Stock covered by each Restricted Stock grant made under the Plan shall be subject to the restrictions on transferability
set forth in the Award Agreement.

 

8.6 Voting
Rights. If the Committee so determines, Participants holding Shares of Restricted Stock granted hereunder may be granted the right
to exercise full voting rights with respect to those Shares during the Period of Restriction.

 

8.7 Dividends
and Other Distributions. During the Period of Restriction, Participants holding Shares of Restricted Stock or Stock Awards granted
hereunder may, if the Committee so determines, be credited with dividends paid with respect to the underlying Shares while they are so
held; provided that, any dividends with respect to the Restricted Stock or Stock Awards shall not be paid to the Participant until the
Shares of Restricted Stock or Stock Awards to which the dividends relate vest. If any Shares of Restricted Stock or Stock Awards are
forfeited, the Participant shall have no right to the dividends related to the forfeited Shares.

 

8.8 Stock
Award. The Committee may grant and award Shares to a Participant that are not subject to Periods of Restrictions and which may be
subject to such conditions or provisions as the Committee determines.

 

Article
9. Restricted Stock Units, Performance Units, Performance Shares, and Cash-Based Awards

 

9.1 Grant
of Restricted Stock Units, Performance Units, Performance Shares and Cash-Based Awards. Subject to the terms of the Plan, Restricted
Stock Units, Performance Shares, Performance Units, and/or Cash-Based Awards may be granted to Participants in such amounts and upon
such terms, and at any time and from time to time, as shall be determined by the Committee.

 

9.2 Award
Agreement. At the Committee’s discretion, each grant of Restricted Stock Units, Performance Shares, Performance Units and Cash-Based
Awards may be evidenced by an Award Agreement that shall specify the initial value, the duration of the Award, the performance measures
and/or service requirements, if any, applicable to the Award, and such other provisions as the Committee shall determine which are not
inconsistent with the terms of the Plan.

 

9.3 Value
of Performance Units/Shares and Cash-Based Awards. Each Performance Unit shall have an initial value that is established by the Committee
at the time of grant. Each Restricted Stock Unit and Performance Share shall have an initial value equal to the Fair Market Value of
a Share on the date of grant. Each Cash-Based Award shall have a value as may be determined by the Committee. The Committee shall set
performance goals and/or service requirements in its discretion which, depending on the extent to which they are met, will determine
the number and/or value of Restricted Stock Units, Performance Units, Performance Shares and Cash-Based Awards that will be paid out
to the Participant. Generally, a Participant’s right to receive amounts under a Restricted Stock Unit award shall be based on the
Participant’s satisfaction of a service requirement and such other terms and conditions that the Committee may specify. Generally,
a Participant’s right to receive amounts under a Performance Unit, Performance Share or Cash-Based Award shall be based on the
satisfaction of a performance requirement and such other terms and conditions that the Committee may specify. The Committee has full
discretionary authority to establish performance goals and/or service requirements, and a performance goal may include a service requirement.
For purposes of this Article 9, the time period during which the performance goals and/or service requirements must be met shall be called
a “Performance Period.”

 

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9.4 Earning
of Restricted Stock Units, Performance Units, Performance Shares and Cash-Based Awards. Subject to the terms of this Plan and the
Award Agreement (if any), after the applicable Performance Period has ended, the holder of Restricted Stock Units, Performance Units,
Performance Shares or Cash-Based Awards shall be entitled to receive payout on the number and value of Restricted Stock Units, Performance
Units, Performance Shares or Cash-Based Awards earned by the Participant over the Performance Period, to be determined as a function
of the extent to which the corresponding performance goals and/or service requirements have been achieved. Unless otherwise determined
by the Committee, notwithstanding any other provision of the Plan, payment of Cash-Based Awards shall only be made for those Participants
who are Directors or in the employ of the Company at the end of the Performance Period or, if none has been specified, the end of the
applicable award year.

 

9.5 Form
and Timing of Payment of Restricted Stock Units, Performance Units, Performance Shares and Cash-Based Awards. Payment of earned Restricted
Stock Units, Performance Units, Performance Shares and Cash-Based Awards shall be as determined by the Committee and, if applicable,
as evidenced in the related Award Agreement. Subject to the terms of the Plan, the Committee, in its sole discretion, may pay earned
Restricted Stock Units, Performance Units, Performance Shares and Cash-Based Awards in the form of cash or in Shares (or in a combination
thereof) that have an aggregate Fair Market Value equal to the value of the earned Restricted Stock Units, Performance Units, Performance
Shares and Cash-Based Awards at the close of the applicable Performance Period. Such Shares may be granted subject to any restrictions
deemed appropriate by the Committee. No fractional shares will be issued. The determination of the Committee with respect to the form
of payout of such Awards shall be set forth in the Award Agreement pertaining to the grant of the Award.

 

Unless
otherwise provided by the Committee, Participants holding Restricted Stock Units, Performance Units, or Performance Shares may be entitled
to receive dividends or dividend units with respect to dividends declared on Shares underlying such Awards. No dividends or dividend
units with respect to the Restricted Stock Units, Performance Units, or Performance Shares shall be paid to the Participant until the
Restricted Stock Units, Performance Units, or Performance Shares to which the dividends relate vest. If any Restricted Stock Units, Performance
Units, or Performance Shares are forfeited, the Participant shall have no right to the dividends or dividend units related to the forfeited
Awards.

 

9.6 Nontransferability.
Except as otherwise provided in a Participant’s Award Agreement, Restricted Stock Units, Performance Units, Performance Shares
and Cash-Based Awards may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or
by the laws of descent and distribution. Further, except as otherwise provided in a Participant’s Award Agreement, a Participant’s
rights under such Awards shall be exercisable during the Participant’s lifetime only by such Participant or such Participant’s
legal representative.

 

Article
10. Beneficiary Designation

 

The
Committee may permit Participants under the Plan to name, from time to time, any beneficiary or beneficiaries (who may be named contingently
or successively) to whom any benefit under the Plan is to be paid in case of his or her death before he or she receives any or all of
such benefit. Each such designation shall revoke all prior designations by the same Participant, shall be in a form prescribed by the
Company, and will be effective only when filed by the Participant in writing with the Company during the Participant’s lifetime.
If a beneficiary designation has not been made, or the beneficiary was not properly designated (in the sole discretion of the Committee),
has died or cannot be found, all payments after death shall be paid to the Participant’s estate. In case of disputes over the proper
beneficiary, the Company reserves the right to make any or all payments to the Participant’s estate.

 

    	15

     

    

 

Article
11. Deferrals

 

Subject
to the requirements of Section 409A, the Committee may permit or require a Participant to defer such Participant’s receipt of the
payment of cash or the delivery of Shares that would otherwise be due to such Participant by virtue of the lapse or waiver of restrictions
with respect to Restricted Stock, payment of a Stock Award or the satisfaction of any requirements or goals with respect to Restricted
Stock Units, Performance Units/Shares and Cash-Based Awards. If any such deferral election is required or permitted, the Committee shall,
in its sole discretion, establish rules and procedures for such payment deferrals provided that such rules must comply with the requirements
of Section 409A.

 

Article
12. Rights of Participants

 

12.1 Employment.
Nothing in the Plan shall confer upon any Participant any right to continue in the Company’s or any Subsidiary’s or any Affiliates’
employ, or as a Director, or as a Consultant, or interfere with or limit in any way the right of the Company, Subsidiary or Affiliate
to terminate any Participant’s employment, service relationship or directorship at any time.

 

12.2 Participation.
No Employee, Director or Consultant shall have the right to be selected to receive an Award under this Plan, or, having been so selected,
to be selected to receive a future Award.

 

12.3 Rights
as a Stockholder. Except as provided in Sections 8.6, 8.7 and 9.5, a Participant shall have none of the rights of a shareholder with
respect to shares of Common Stock covered by any Award until the Participant becomes the record holder of such shares.

 

Article
13. Termination of Employment/Directorship/Consulting Relationship

 

Each
Participant’s Award Agreement shall set forth the extent to which the Participant shall have the right to such Participant’s
outstanding Award(s) following termination of the Participant’s employment or directorship or consulting services with the Company.
Such provisions shall be determined in the sole discretion of the Committee, shall be included in the Award Agreements entered into with
each Participant, need not be uniform among all Awards issued pursuant to the Plan, and may reflect distinctions based on the reasons
for termination.

 

Article
14. Change in Control

 

14.1 Treatment
of Outstanding Awards Other than Cash-Based Awards. In the event of a Change in Control, unless otherwise specifically prohibited
under applicable laws, or by the rules and regulations of any governing governmental agencies or national securities exchanges, the treatment
of non-Cash-Based Awards shall be as specified in the applicable Award Agreement. Subject to such applicable laws, rules and regulations,
and unless the Committee specifies otherwise in the Award Agreement:

 

(a) Non-Cash-Based
Awards will fully vest if: (i) the Awards are not continued or assumed (e.g., the Awards are not equitably converted or substituted for
awards of a successor entity) in connection with the Change in Control; or (ii) the Participant has a qualifying termination of his or
her service relationship (as defined in the Award Agreement) within two years following the date of the Change in Control. In the event
that non-Cash-Based Awards to Participant are not so continued or assumed in connection with the Change in Control or in the event of
a qualifying termination of his or her service relationship (as defined in the Award Agreement) within two years following the date of
the Change in Control, then upon such Change in Control or such qualifying termination (as the case may be):

 

(i) Any
and all Options and SARs granted hereunder shall become fully exercisable during their remaining term; and

 

    	16

     

    

 

(ii) Any
restriction periods and restrictions imposed on Restricted Stock that are not performance-based shall lapse; and

 

(iii) The
target payout opportunities attainable under all outstanding Awards of performance-based Restricted Stock, Performance Units and Performance
Shares shall be deemed to have been fully earned for the entire Performance Period (s) as of the effective date of the Change in Control
or such qualifying termination. The vesting of all such Awards denominated in Shares shall be accelerated as of the effective date of
the Change in Control or such qualifying termination and shall be paid out to the Participants within thirty (30) days following the
effective date of the Change in Control or such qualifying termination based upon an assumed achievement of all relevant target performance
goals (such payment shall be in full satisfaction of the Award). Such Awards denominated in cash shall be paid to the Participants in
cash within thirty (30) days following the effective date of the Change in Control or such qualifying termination based on an assumed
achievement of all relevant target performance goals (such payment shall be in full satisfaction of the Award). Restricted Stock Units
shall be fully vested as of the effective date of the Change in Control or such qualifying termination, and the full value of such an
Award shall be paid out to the Participants within thirty (30) days following the effective date of the Change in Control or such qualifying
termination. Notwithstanding the foregoing, in the event that the Award is not so continued or assumed in connection with a Change in
Control, the payment of a Section 409A Award will only be accelerated if the Change in Control also constitutes a change in ownership
or effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company within the meaning
of Section 409A and will not result in additional taxes under Section 409A.

 

14.2 Treatment
of Cash-Based Awards. In the event of a Change in Control, unless otherwise specifically prohibited under applicable laws, or by
the rules and regulations of any governing governmental agencies or national securities exchanges, the treatment of Cash-Based Awards
shall be as specified in the applicable Award Agreement or resolutions adopted by the Committee. Subject to such applicable laws, rules
and regulations, unless the Committee shall provide otherwise in the Award Agreement or resolutions adopted by the Committee:

 

(a) Cash-Based
Awards will fully vest if: (i) the Awards are not continued or assumed (e.g., the Awards are not equitably converted or substituted for
awards of a successor entity) in connection with the Change in Control; or (ii) the Participant has a qualifying termination of his or
her service relationship (as defined in the Award Agreement) within two years following the date of the Change in Control. In the event
that the Cash-Based Awards granted to Participants are not so continued or assumed or in the event of a qualifying termination of the
service relationship (as defined in the Award Agreement) within two years following the date of the Change in Control, the vesting of
all outstanding Cash-Based Awards shall be accelerated as of the date of such event (and, in the case of performance-based Cash-Based
Awards, based on an assumed achievement of all relevant target performance goals), and all Cash-Based Awards shall be paid to Participants
in cash within thirty (30) days following the effective date of such event (such payment shall be in full satisfaction of the Award).
Notwithstanding the foregoing, in the event that the Cash-Based Awards is not so continued or assumed in connection with a Change in
Control, the payment of a Cash-Based Section 409A Award will only be accelerated if the Change in Control also constitutes a change in
ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company within
the meaning of Section 409A and will not result in additional taxes under Section 409A.

 

    	17

     

    

 

14.3 Cancellation
of Underwater Options or SARs. In the event of a Change in Control, in the case of any Option or Stock Appreciation Right with an
Option Price that equals or exceeds the price paid for a Share in connection with the Change in Control, the Committee may cancel the
Option or Stock Appreciation Right without the payment of consideration therefor.

 

14.4 Termination,
Amendment, and Modifications of Change-in-Control Provisions. Notwithstanding any other provision of this Plan or any Award Agreement
provision, the provisions of this Article 14 may not be terminated, amended, or modified on or after the date of a Change in Control
to affect adversely any Award theretofore granted under the Plan and any rights or benefits provided to a Participant pursuant to this
Article 14 without the prior written consent of the Participant with respect to said Participant’s outstanding Awards; provided,
however, the Committee may terminate, amend, or modify this Article 14 at any time and from time to time prior to the date of a Change
in Control.

 

Article
15. Amendment, Modification, Termination and Tax Compliance.

 

15.1 Amendment,
Modification, and Termination. Subject to the terms of the Plan, the Committee or the Board may at any time and from time to time,
alter, amend, suspend, or terminate the Plan in whole or in part. However, except as provided in 4.2 and 4.3 relating to adjustments
upon changes to the Shares and Section 15.3, no amendment shall be effective unless approved by the shareholders of the Company to the
extent shareholder approval is necessary to satisfy any Applicable Laws. At the time of such amendment, the Board shall determine, upon
advice from counsel, whether such amendment will be contingent on shareholder approval.

 

15.2 Awards
Previously Granted. Notwithstanding any other provision of the Plan to the contrary, no termination, amendment, or modification of
the Plan shall adversely affect in any material way any Award previously granted under the Plan, without the written consent of the Participant
holding such Award; provided that no consent is required for any amendment the Committee deems necessary or appropriate to comply with
Applicable Law or tax requirements.

 

15.3 Contemplated
Amendments. It is expressly contemplated that the Board may amend the Plan in any respect the Board deems necessary or advisable
to provide eligible Employees, Consultants and Directors with the maximum benefits provided or to be provided under the provisions of
the Code and the regulations promulgated thereunder relating to Incentive Stock Options or to the nonqualified deferred compensation
provisions of Section 409A of the Code and/or to bring the Plan and/or Awards granted under it into compliance therewith.

 

15.4 Shareholder
Approval Required for Certain Amendments. Shareholder approval will be required for any amendment of the Plan that does any of the
following: (a) permits the grant of any Option with an Option Price less than the Fair Market Value of the Shares on the date of grant;
(b) reduces the Option Price of an outstanding Option by lowering the Option Price, by canceling an outstanding Option and granting a
replacement Option with a lower exercise price, or by exchanging the outstanding Option with another stock-based or cash Award; (c) permits
the grant of any SAR with a grant price that is less than the Fair Market Value of the Shares on the date of grant; or (d) reduces the
grant price of an outstanding SAR by lowering the grant price, by canceling an outstanding SAR and granting a replacement SAR with a
lower exercise price, or by exchanging the outstanding SAR with another stock-based or cash Award.

 

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15.5 Compliance
with Section 409A. It is intended that Awards under this Plan are either exempt from Section 409A or are structured to comply with
the requirements of Section 409A. The Plan shall be administered and interpreted in accordance with that intent. By way of example, the
following rules shall apply:

 

	 	●	Any
    provision of the Plan that would conflict with the requirements of a Section 409A Award shall not apply to a Section 409A Award.
	 	 	 
	 	●	Any
    adjustment or modification to an Award shall be made in compliance with Section 409A (e.g., any adjustment to an Option or SAR under
    Section 4.2 shall be made in accordance with the requirements of Section 409A).
	 	 	 
	 	●	For
    Section 409A Awards, all rights to amend, terminate or modify the Plan or any Award are subject to the requirements and limitations
    of Section 409A.
	 	 	 
	 	●	For
    Section 409A Awards, any payment or distribution that is triggered upon termination or cessation of employment or a comparable event
    shall be interpreted consistent with the definition of “separation from service” within the meaning of Treasury Regulation
    Section 1.409A-1(h).
	 	 	 
	 	●	With
    respect to amounts payable under a Section 409A Award, in the event that a Participant is a “specified employee” as defined
    in Section 409A, any amount that is payable in connection with the Participant’s separation from service shall not be paid
    prior to the date which is six months after the date the Participant separates from service (or, if earlier, the date the Participant
    dies). A Participant who is subject to the restriction described in the previous sentence shall be paid on the first day of the seventh
    month after the Participant’s separation from service an amount equal to the benefit that the Participant would have received
    during such six month period absent the restriction.

 

While
the Company intends for Awards to either be exempt from or in compliance with Section 409A, none of the Company, any Subsidiary or Affiliated
or the Committee shall be liable to any person for the tax consequences of any failure to comply with the requirements of Section 409A
or any other tax consequences relating to Awards under this Plan.

 

Article
16. Withholding

 

The
Company shall have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient
to satisfy Federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable
event arising as a result of this Plan; provided that the amount that is withheld, or may be withheld at the Participant’s discretion,
cannot exceed the amount of the taxes owed by the Participant using the minimum statutory tax rate in the Participant’s applicable
jurisdiction(s). The Participant may satisfy, totally or in part, his obligations pursuant to this Article by electing to have Shares
withheld, to redeliver Shares acquired under an Award, or to deliver previously owned Shares, provided that the election is made in writing
on or prior to (i) the date of exercise, in the case of Options and SARs (ii) the date of payment, in respect of Stock Awards, Restricted
Stock Units, Performance Units, Performance Shares, or Cash-Based Awards, and (iii) the expiration of the Period of Restriction, in respect
of Restricted Stock. Any election made under this Article shall be irrevocable by the Participant and may be disapproved by the Committee
at any time in its sole discretion. If an election is disapproved by the Committee, the Participant must satisfy his obligations pursuant
to this paragraph in cash.

 

    	19

     

    

 

Article
17. Successors

 

All
obligations of the Company under the Plan with respect to Awards granted hereunder shall be binding on any successor to the Company,
whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or
substantially all of the business, stock and/or assets of the Company.

 

Article
18. General Provisions

 

18.1 Gender
and Number. Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine; the
plural shall include the singular and the singular shall include the plural.

 

18.2 Severability.
If any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining
parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included.

 

18.3 Requirements
of Law. The granting of Awards and the issuance of Shares under the Plan shall be subject to all applicable laws, rules, and regulations,
and to such approvals by any governmental agencies or national securities exchanges as may be required.

 

18.4 Forfeiture
Events. The Committee may specify in an Award Agreement that the Participant’s rights, payments and benefits with respect to
an Award shall be subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain events, in addition to
applicable vesting conditions of an Award. Such events may include, without limitation, breach of non-competition, non-solicitation,
confidentiality, or other restrictive covenants that are contained in the Award Agreement or otherwise applicable to the Participant,
a termination of the Participant’s employment or service relationship for “cause”, or other conduct by the Participant
that is detrimental to the business or reputation of the Company, its Subsidiaries and/or its Affiliates.

 

18.5 Clawback.
Notwithstanding any other provisions in this Plan, the Company may cancel any Award, require reimbursement of any Award by a Participant,
and effect any other right of recoupment of equity or other compensation provided under the Plan in accordance with any Company policies
that may be adopted and/or modified from time to time (“Clawback Policy”). In addition, a Participant may be required
to repay to the Company previously paid compensation, whether provided pursuant to the Plan or an Award Agreement, in accordance with
the Clawback Policy. By accepting an Award, the Participant is agreeing to be bound by the Clawback Policy, as in effect or as may be
adopted and/or modified from time to time by the Company in its discretion (including, without limitation, to comply with applicable
law or stock exchange listing requirements).

 

18.6 Securities
Law Compliance. Each Award Agreement shall provide that no Shares shall be purchased or sold thereunder unless and until (a) any
then applicable requirements of state or federal laws and regulatory agencies have been fully complied with to the satisfaction of the
Company and its counsel and (b) if required to do so by the Company, the Participant has executed and delivered to the Company a letter
of investment intent in such form and containing such provisions as the Committee may require. The Company shall use reasonable efforts
to seek to obtain from each regulatory commission or agency having jurisdiction over the Plan such authority as may be required to grant
Awards and to issue and sell Shares upon exercise of the Awards; provided, however, that this undertaking shall not require the
Company to register under the Securities Act the Plan, any Award or any Share issued or issuable pursuant to any such Award. If, after
reasonable efforts, the Company is unable to obtain from any such regulatory commission or agency the authority which counsel for the
Company deems necessary for the lawful issuance and sale of Shares under the Plan, the Company shall be relieved from any liability for
failure to issue and sell Shares upon exercise of such Awards unless and until such authority is obtained. With respect to insiders (within
the meaning of Section 16 of the Exchange Act), transactions under this Plan are intended to comply with all applicable conditions of
Rule 16b-3 or its successors under the Exchange Act, unless determined otherwise by the Board. To the extent any provision of the Plan
or action by the Committee fails to so comply, it shall be deemed null and void, to the extent permitted by law and deemed advisable
by the Board.

 

    	20

     

    

 

18.7 No
Additional Rights. Neither the Award nor any benefits arising under this Plan shall constitute part of an employment contract between
the Participant and the Company or any Subsidiary or Affiliate, and accordingly, subject to Section 15.2, this Plan and the benefits
hereunder may be terminated at any time in the sole and exclusive discretion of the Committee without giving rise to liability on the
part of the Company or any Affiliate for severance payments.

 

18.8 Employees
Based Outside of the United States. Notwithstanding any provision of the Plan to the contrary, to comply with provisions of laws
in other countries in which the Company, its Affiliates, and its Subsidiaries operate or have Employees, the Committee, in its sole discretion,
shall have the power and authority to:

 

(a) Determine
which Affiliates and Subsidiaries will be covered by the Plan or relevant subplans;

 

(b) Determine
which Employees employed outside the United States are eligible to become Participants in the Plan;

 

(c) Modify
the terms and conditions of any Award granted to Participants who are employed outside the United States;

 

(d) Establish
subplans, modified exercise procedures, and other terms and procedures to the extent such actions may be necessary, advisable or convenient,
or to the extent appropriate to provide maximum flexibility for the Participant’s financial planning. Any subplans and modifications
to the Plan terms or procedures established under this Section 18.8 by the Committee shall be filed with the Plan document as Appendices;
and

 

(e) Take
any action, before or after an Award is made, which the Committee deems advisable to obtain, comply with, or otherwise reflect any necessary
governmental regulatory procedures, exemptions or approvals, as they may affect this Plan, any subplan, or any Participant.

 

18.9 Uncertificated
Shares. To the extent that the Plan provides for issuance of certificates to reflect the transfer of Shares, the transfer of such
Shares may be effected on a noncertificated basis, to the extent not prohibited by applicable law or the rules of any stock exchange.

 

18.10 Governing
Law. The Plan and each Award Agreement shall be governed by the laws of the State of Nevada, excluding any conflicts or choice of
law, rule or principle that might otherwise refer construction or interpretation of the Plan to the substantive law of another jurisdiction.

 

18.11 Unfunded
Plan. The Plan shall be unfunded. Neither the Company, the Board nor the Committee shall be required to establish any special or
separate fund or to segregate any assets to assure the performance of its obligations under the Plan.

 

    	21

     

    

 

18.12 Disqualifying
Dispositions. Any Participant who shall make a “disposition” (as defined in Section 424 of the Code) of all or any portion
of Shares acquired upon exercise of an Incentive Stock Option within two years from the grant date of such Incentive Stock Option or
within one year after the issuance of the Shares acquired upon exercise of such Incentive Stock Option shall be required to immediately
advise the Company in writing as to the occurrence of the sale and the price realized upon the sale of such Shares.

 

18.13 Effective
Date of Plan. The Plan shall become effective as of the Effective Date, but no Award shall be exercised unless and until the Plan
has been approved by the shareholders of the Company, which approval shall be within twelve (12) months before or after the date the
Plan is adopted by the Board.

 

18.14
Termination or Suspension of the Plan. The Plan shall terminate automatically on February 7, 2032. No Award shall be granted
pursuant to the Plan after such date, but Awards theretofore granted may extend beyond that date. The Board may suspend or terminate
the Plan at any earlier date pursuant to Section 15.1 hereof. No Awards may be granted under the Plan while the Plan is suspended or
after it is terminated.
 

    	22

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