Document:

Exhibit 10.18

  

THE SECURITIES TO BE ISSUED PURSUANT TO THIS
AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“SECURITIES ACT”), OR ANY OTHER APPLICABLE
STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD UNLESS REGISTERED THEREUNDER OR UNLESS AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.

 

SUBSCRIPTION AGREEMENT

 

Asset Entities Inc.

100 Crescent Ct, 7th Floor

Dallas, TX 75201

 

Ladies and Gentlemen:

 

Subscription. I (sometimes
referred to herein as the “Investor”) hereby subscribe for and agree to purchase the Securities (as defined
below) of Asset Entities Inc., a Nevada corporation (the “Company”), for the purchase price (the “Purchase
Price”) set forth on the signature page to this Subscription Agreement (this “Agreement”) and
on the terms and conditions described in this Agreement, which is Exhibit A to the investor subscription package (together with
all exhibits, the “Subscription Package”) and in exhibits B, C, D and E to the Subscription
Package. Terms not defined herein in this Agreement are defined elsewhere in the Subscription Package. The Company is seeking
to raise a minimum of $250,000 (the “Minimum Offering Amount”) and maximum of $750,000 (the “Maximum
Offering Amount”) in this Offering. The minimum amount of investment required from any one subscriber to participate
in this Offering is $50,000. All references to $ means United States dollars.

 

1.   Description
of Securities; Description of Company and Risk Factors; Lock-Up. 

 

		a.	Description of Securities. The Company is offering
(the “Offering”) to the Investor class B common stock, par value $0.0001 per share, of the Company (“Shares”
or “Securities”) at a purchase price of $1.00 per share. The Company is authorized to issue two classes of
common stock, Class A Common Stock and Class B Common Stock, and any number of classes of Preferred Stock. Class A Common Stock is entitled
to ten votes per share on proposals requiring or requesting shareholder approval, and Class B Common Stock is entitled to one vote on
any such matter. For a more detailed description of the Securities and the terms of this Offering see Section 8(c) “Capitalization”
and the Term Sheet attached as Exhibit B to the Subscription Package.

 

		b.	Risks Related to the Investment in the Securities.
Investing in the Securities involves a high degree of risk. Before investing, Investors should carefully consider the description of
our business and the risks related to our business, as set forth in Exhibit C the investor deck set forth in Exhibit D,
and the business overview set forth in Exhibit E, together with the other information contained in the Subscription Package.

 

		c.	Lock-Up. In connection with this Offering, the Investor
agrees to the following lock-up agreement with respect to the purchased Shares:

 

		i.	From and after the date hereof and until the 180th
day after the date the Company’s common stock is first listed for trading on a national securities exchange (such first trading
day, the “Lock-Up Trigger Date”), the Investor agrees not to sell, transfer or otherwise dispose of the Shares.

 

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		ii.	Between the 181st and 270th day after
the Lock-Up Trigger Date, the Investor agrees not to sell, transfer or otherwise dispose of more than one-third of the Shares purchased
pursuant to the Agreement, subject to a maximum sale on any trading day of 3% of the daily volume.

 

		iii.	Between the 271st and 365th day after
the Lock-Up Trigger Date, the Investor agrees not to sell, transfer or otherwise dispose of more than one-third of the Shares purchased
pursuant to the Agreement, subject to a maximum sale on any trading day of 3% of the daily volume.

 

		iv.	After the 365th day after the Lock-Up Trigger Date,
the Investor will be entitled to sell the remaining Shares purchased hereunder without contractual restriction, but subject to any restrictions
arising under applicable law, including the Securities Act of 1933, as amended.

 

Notwithstanding the
above, commencing 90 days after the Lock-Up Trigger Date, if the price per share of the Company’s common stock is at least 50% higher
than the IPO Price (as defined below) per share and trades at least 100,000 shares daily, both for ten (10) consecutive trading days,
the Investor may sell one-third of its shares subject to a maximum sale on any trading day of 3% of the daily volume; and if the Company’s
common share price is at least 100% higher than the IPO Price per share and trades at least 100,000 shares daily, both for ten (10) consecutive
trading days, the Investor may sell up to an additional one-third of its shares subject to a maximum sale on any trading day of 3% of
the daily volume; and if the Company common share price is at least 150% higher than the IPO Price per share and trades at least 100,000
shares daily, both for ten (10) consecutive trading days, the Investor may sell an additional one-third constituting a maximum total of
all of its shares subject to a maximum sale on any trading day of 3% of the daily volume. For purpose of this term, the “IPO
Price” shall mean the price the Company’s common shares are first sold to the public pursuant to an underwritten registered
offering resulting in a listing of its common shares on the NASDAQ Stock Market or another national securities exchange (the “IPO”).

 

2.   Purchase.

 

		a.	I hereby agree to tender to Sutter Securities Inc.
(the “Escrow Agent”), by check or wire transfer of immediately available funds (to a bank account and related
wire instructions to be provided to me on my request) made payable to “Asset Entities Inc.” for such number of Shares
indicated on the signature page hereto, an executed copy of this Agreement and an executed copy of my Investor Representation and Suitability
Questionnaire included within this Agreement. Funds will be held in escrow, as set forth in more detail below (the “Escrow
Account”), pending the Initial Closing.

 

		b.	This Offering will continue until the earlier of (a) the
sale of 750,000 Shares for $750,000 of gross proceeds being the Maximum Offering Amount, or (b) April 25, 2023 (the “Termination
Date”). Upon the earlier of a Closing (defined below) on my subscription or completion of the Offering, the Investor will
be notified promptly by the Company as to whether the Investor’s subscription has been accepted by the Company.

 

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		c.	Notwithstanding anything to the contrary herein, affiliates of the Company and the Placement Agent (as
defined below) may purchase securities in this Offering and the amount that such affiliates invest will be counted toward achieving the
Minimum Offering Amount condition set forth in Section 4 below. Furthermore, affiliates of the Company or the Placement Agent purchasing
Securities in this offering may pay for Securities they purchase by converting or forgiving at the Purchase Price existing indebtedness
of the Company owed to such affiliates, and such purchase(s) of Securities would also be credited towards satisfying the Minimum Offering
Amount condition set forth in Section 4 below.

 

3.   Acceptance
or Rejection of Subscription.

 

		a.	I understand and agree that the Company reserves the right to reject this subscription for the Securities,
in whole or in part, for any reason and at any time prior to the Closing (defined below) of my subscription.

 

		b.	In the event the Company rejects this subscription, my subscription payment will be promptly returned
to me without interest or deduction and this Agreement shall be of no force or effect. In the event my subscription is accepted
and the Offering is completed, the subscription funds submitted by me shall be released to the Company.

 

4.   Closing.
 The closing (“Closing”) of this Offering may occur at any time and from time to time on or before the
Termination Date. The Company must achieve the $250,000 Minimum Offering Amount prior to conducting an initial Closing (the “Initial
Closing”). Upon receipt of the Minimum Offering Amount, an Initial Closing will be held, and all funds will be released
from the Escrow Account and paid to the Company, less professional fees and compensation paid to the Placement Agent and syndicate members.
Thereafter, additional Closings will be held as funds are received up to the earlier to occur of receipt of the $750,000 Maximum Offering
Amount or the Termination Date. Pending receipt of the Minimum Offering Amount, all subscriptions will be placed in escrow with the Escrow
Agent. If, for any reason, the Minimum Offering Amount of subscriptions are not received by the Termination Date, all escrowed funds will
be returned to subscribers promptly, without interest or deduction. The Securities subscribed for herein shall not be deemed issued to
or owned by me until one copy of this Agreement has been executed by me and countersigned by the Company and the Closing with respect
to such Securities has occurred.

 

5.   Disclosure.
 Because this offering is limited to accredited investors as defined in Section 2(a)(15) of the Securities Act, and Rule 501 promulgated
thereunder, in reliance upon the exemption contained in Section 4(a)(2) of the Securities Act and applicable state securities laws, the
Securities are being sold without registration under the Securities Act. I acknowledge receipt of the Subscription Package and represent
that I have carefully reviewed and understand the Subscription Package, including all exhibits attached thereto. I have received all information
and materials regarding the Company that I have requested. I fully understand that the Company has a limited financial and operating history
and that the Securities are speculative investments which involve a high degree of risk, including the potential loss of my entire investment.
I fully understand the nature of the risks involved in purchasing the Securities, and I am qualified to make such investment based on
my knowledge of and experience in investing in securities of this type. I have carefully considered the potential risks relating to the
Company and purchase of its Securities and have, in particular, reviewed each of the risks set forth in the Subscription Package. Both
my advisors and I have had the opportunity to ask questions of and receive answers from representatives of the Company or persons acting
on its behalf concerning the Company and the terms and conditions of a proposed investment in the Company, and my advisors and I have
also had the opportunity to obtain additional information necessary to verify the accuracy of information furnished about the Company.
Accordingly, I have independently evaluated the risks of purchasing the Securities.

 

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6.   Investor
Representations and Warranties. I acknowledge, represent and warrant to, and agree with, the Company as follows:

 

		a.	I am aware that my investment involves a high degree of risk as disclosed herein and in the Subscription
Package and have read carefully the Subscription Package, and I understand that by signing this Agreement I am agreeing to be bound by
all of the terms and conditions of herein and in the Subscription Package.

 

		b.	I acknowledge and am aware that there is no assurance as to the future performance of the Company.

 

		c.	I acknowledge that there may be certain adverse tax consequences to me in connection with my purchase
of Securities, and the Company has advised me to seek the advice of experts in such areas prior to making this investment.

 

		d.	I am purchasing the Securities for my own account for investment purposes only and not with a view to
or for sale in connection with the distribution of the Securities, nor with any present intention of selling or otherwise disposing of
all or any part of the foregoing securities. I agree that I must bear the entire economic risk of my investment for an indefinite
period of time because, among other reasons, the Securities have not been registered under the Securities Act or under the securities
laws of any state and, therefore, cannot be resold, pledged, assigned or otherwise disposed of unless they are subsequently registered
under the Securities Act and under applicable securities laws of certain states or an exemption from such registration is available. I
hereby authorize the Company to place a restrictive legend on the Securities that are issued to me.

 

		e.	I recognize that the Securities, as an investment, involve a high degree of risk including, but not limited
to, the risk of economic losses from operations of the Company and the total loss of my investment. I believe that the investment
in the Securities is suitable for me based upon my investment objectives and financial needs, and I have adequate means for providing
for my current financial needs and contingencies and have no need for liquidity with respect to my investment in the Company.

 

		f.	I have been given access to full and complete information regarding the Company and have utilized such
access to my satisfaction for the purpose of obtaining information in addition to, or verifying information included in, the Subscription
Package, and I have either met with or been given reasonable opportunity to meet with officers of the Company for the purpose of asking
questions of, and receiving answers from, such officers concerning the terms and conditions of the offering of the Securities and the
business and operations of the Company and to obtain any additional information, to the extent reasonably available.

 

		g.	I have such knowledge and experience in financial and business matters as to be capable of evaluating
the merits and risks of an investment in the Securities and have obtained, in my judgment, sufficient information from the Company to
evaluate the merits and risks of an investment in the Company. I have not utilized any person as my purchaser representative as
defined in Regulation D under the Securities Act in connection with evaluating such merits and risks.

 

		h.	I have relied solely upon my own investigation in making a decision to invest in the Company.

 

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		i.	I have received no representation or warranty from the Company or any of its officers, directors, employees
or agents in respect of my investment in the Company, and I have received no information (written or otherwise) from them relating to
the Company or its business other than as set forth in the Subscription Package. I am not participating in the offering as a result
of or subsequent to: (i) any advertisement, article, notice or other communication published in any newspaper, magazine or similar media
or broadcast over television or radio, or (ii) any seminar or meeting whose attendees have been invited by any general solicitation or
general advertising.

 

		j.	I have had full opportunity to ask questions and to receive satisfactory answers concerning the offering
and other matters pertaining to my investment, and all such questions have been answered to my full satisfaction.

 

		k.	I have been provided an opportunity to obtain any additional information concerning the offering and the
Company and all other information to the extent the Company possesses such information or can acquire it without unreasonable effort or
expense.

 

		l.	I am an “accredited investor” as defined in Section 2(a)(15) of the Securities Act and in
Rule 501 promulgated thereunder and have attached the completed Investor Representation and Suitability Questionnaire that is included
in this Agreement to indicate my “accredited investor” status. I can bear the entire economic risk of the investment
in the Securities for an indefinite period of time, and I am knowledgeable about and experienced in making investments in the equity securities
of non-publicly traded companies, including early-stage companies. I am not acting as an underwriter or a conduit for sale to the
public or to others of unregistered securities, directly or indirectly, on behalf of the Company or any person with respect to such securities.

 

		m.	I understand that (1) the Securities have not been registered under the Securities Act, or the securities
laws of certain states, in reliance on specific exemptions from registration, (2) no securities administrator of any state or the federal
government has recommended or endorsed this offering or made any finding or determination relating to the fairness of an investment in
the Company, and (3) the Company is relying on my representations and agreements for the purpose of determining whether this transaction
meets the requirements of certain exemptions from registration afforded by the Securities Act and certain state securities laws.

 

		n.	I understand that since neither the offer nor sale of the Securities has been registered under the Securities
Act or the securities laws of any state, the Securities may not be sold, assigned, pledged or otherwise disposed of unless they are so
registered or an exemption from such registration is available.

 

		o.	I have had the opportunity to seek independent advice from my professional advisors relating to the suitability
of an investment in the Company in view of my overall financial needs and with respect to the legal and tax implications of such investment.

 

		p.	If the Investor is a corporation, company, trust, employee benefit plan, individual retirement account,
Keogh Plan, or other tax-exempt entity, it is authorized and qualified to become an Investor in the Company and the person signing this
Agreement on behalf of such entity has been duly authorized by such entity to do so.

 

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		q.	The information contained in my Investor Representation and Suitability Questionnaire, as well as any
information which I have furnished to the Company with respect to my financial position and business experience, is correct and complete
as of the date of this Agreement, and, if there should be any material change in such information prior to the Closing of the offering,
I will furnish such revised or corrected information to the Company. I hereby acknowledge and am aware that except for any rescission
rights that may be provided under applicable laws, I am not entitled to cancel, terminate or revoke this subscription and any agreements
made in connection herewith shall survive my death or disability.

 

7.   Placement
Agent. The Company has engaged Boustead Securities LLC, a broker-dealer licensed with FINRA (the “Placement Agent”),
as placement agent for the Offering on a reasonable best efforts basis. The Company anticipates that the Placement Agent and its sub-agents
or syndicate members, if any, will be paid at each Closing from the proceeds in the Escrow Account, fees including and not to exceed:
a cash commission of seven percent (7%) of the gross Purchase Price paid by subscribers in the Offering; and a non-accountable expense
allowance of one percent (1%) of the gross Purchase Price paid by subscribers in the Offering. In addition, at each closing, the Placement
Agent and selling syndicate will receive a five-year warrant to purchase a number of Securities sold in the Offering in an amount not
to exceed seven percent (7%) of the Securities sold at each closing, exercisable on a cashless basis, with an exercise price of USD$1.00
per Security, subject to adjustment. Any sub-agent or syndicate member of the Placement Agent that introduces investors to the Offering
will be entitled to share in the cash fees attributable to those investors as described above, pursuant to the terms of an executed sub-agent
or selected dealer agreement. The Company will also pay certain expenses of the Placement Agent.

 

8.   Representations
and Warranties of the Company. The Company hereby represents and warrants to the Investor, as of the date hereof and on each Closing
Date, the following:

 

		a.	Organization and Qualification. The Company and each of its subsidiaries is a corporation or other
business entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its formation and has the
requisite corporate power to own its properties and to carry on its business as now being conducted. The Company and each of its subsidiaries
is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction in which the nature of the business
conducted by it makes such qualification necessary, except to the extent that the failure to be so qualified or be in good standing would
not have a material adverse effect on the assets, business, financial condition, results of operations or future prospects of the Company
and its subsidiaries taken as a whole (a “Material Adverse Effect”).

 

		b.	Authorization, Enforcement, Compliance with Other Instruments. (i) The Company has the requisite
corporate power and authority to enter into and perform its obligations under this Agreement, and each of the other agreements and documents
that are exhibits hereto or thereto or are contemplated hereby or thereby or necessary or desirable to effect the transactions contemplated
hereby or thereby (the “Transaction Documents”) and to issue the Securities in accordance with the terms hereof,
(ii) the execution and delivery by the Company of each of the Transaction Documents and the consummation by it of the transactions contemplated
hereby and thereby, including, without limitation, the issuance of the Securities have been, or will be at the time of execution of such
Transaction Document, duly authorized by the Company’s Board of Directors, and no further consent or authorization is, or will be
at the time of execution of such Transaction Document, required by the Company, its respective Board of Directors or its stockholders,
(iii) each of the Transaction Documents will be duly executed and delivered by the Company, (iv) the Transaction Documents when executed
and delivered by the Company and each other party thereto will constitute the valid and binding obligations of the Company enforceable
against the Company in accordance with their terms, except as such enforceability may be limited by general principles of equity or applicable
bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of
creditors’ rights and remedies.

 

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		c.	Capitalization. The authorized capital stock of the Company consists of 200,000,000 shares of common
stock, consisting of 10,000,000 shares of Class A Common Stock, and 190,000,000 shares of Class B Common Stock, and 50,000,000 shares
of preferred stock, par value of $0.0001 per share. Immediately prior to the Initial Closing, the Company will have 8,985,276 shares of
Class A Common Stock and 1,014,724 shares of Class B Common Stock outstanding on a “fully diluted” basis, and no shares of
preferred stock issued and outstanding. All of the outstanding shares of common stock of the Company and of any of its subsidiaries have
been or will be, as of the Initial Closing, duly authorized, validly issued and are fully paid and nonassessable. No shares of capital
stock of the Company or any of its subsidiaries will be subject to preemptive rights or any other similar rights or any liens or encumbrances
suffered or permitted by the Company; (ii) there will be no agreements or arrangements under which the Company or any of its subsidiaries
is obligated to register the sale of any of their securities under the Securities Act, and (iii) there are no securities or instruments
of the Company or any of its subsidiaries containing anti-dilution or similar provisions, including the right to adjust the exercise,
exchange or reset price under such securities, that will be triggered by the issuance of the Securities as described in this Agreement.
Upon request, the Company will make available to the Investor true and correct copies of the Company’s Articles of Incorporation,
and as in effect on the date hereof (the “Articles of Incorporation”), and the Company’s Bylaws, as in
effect on the date hereof (the “Bylaws”), and the terms of all securities exercisable for common stock and the
material rights of the holders thereof in respect thereto other than stock options issued to officers, directors, employees and consultants.

 

		d.	Subsidiaries. The Company has no subsidiaries.

 

		e.	Issuance of Securities. The Securities are duly authorized and, upon issuance in accordance with
the terms hereof, shall be duly issued, fully paid and nonassessable, and are free and clear of all taxes, liens and charges with respect
to the issue thereof.

 

		f.	No Conflicts. The execution, delivery and performance of each of the Transaction Documents by the
Company, and the consummation by the Company of the transactions contemplated hereby and thereby will not (i) result in a violation of
the Articles of Incorporation or the Bylaws (or equivalent constitutive document) of the Company or any of its subsidiaries or (ii) violate
or conflict with, or result in a breach of any provision of, or constitute a default (or an event which with notice or lapse of time or
both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement,
indenture or instrument to which the Company or any subsidiary is a party, except for those which would not reasonably be expected to
have a Material Adverse Effect, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including U.S.
federal and state securities laws and regulations) applicable to the Company or any subsidiary or by which any property or asset of the
Company or any subsidiary is bound or affected except for those which could not reasonably be expected to have a Material Adverse Effect.
Except those which could not reasonably be expected to have a Material Adverse Effect, neither the Company nor any subsidiary is in violation
of any term of or in default under its constitutive documents. Except those which could not reasonably be expected to have a Material
Adverse Effect, neither the Company nor any subsidiary is in violation of any term of or in default under any material contract, agreement,
mortgage, indebtedness, indenture, instrument, judgment, decree or order or any statute, rule or regulation applicable to the Company
or any subsidiary. The business of the Company and its subsidiaries is not being conducted, and shall not be conducted in violation of
any law, ordinance, or regulation of any governmental entity, except for any violation which could not reasonably be expected, individually
or in the aggregate, to have a Material Adverse Effect. Except as specifically contemplated by this Agreement and as required under the
Securities Act and any applicable state securities laws, neither the Company nor any of its subsidiaries is required to obtain any consent,
authorization or order of, or make any filing or registration with, any court or governmental agency in order for it to execute, deliver
or perform any of its obligations under or contemplated by this Agreement or the other Transaction Documents in accordance with the terms
hereof or thereof. Neither the execution and delivery by the Company of the Transaction Documents, nor the consummation by the Company
of the transactions contemplated hereby or thereby, will require any notice, consent or waiver under any contract or instrument to which
the Company or any subsidiary is a party or by which the Company or any subsidiary is bound or to which any of their assets is subject,
except for any notice, consent or waiver the absence of which would not reasonably be expected, individually or in the aggregate, to have
a Material Adverse Effect and would not adversely affect the consummation of the transactions contemplated hereby or thereby. All consents,
authorizations, orders, filings and registrations which the Company or any of its subsidiaries is required to obtain pursuant to the preceding
two sentences have been or will be obtained or effected on or prior to the Closing.

 

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		g.	Absence of Litigation. There is no action, suit, claim, inquiry, notice of violation, proceeding
(including any partial proceeding such as a deposition) or investigation before or by any court, public board, governmental or administrative
agency, self-regulatory organization, arbitrator, regulatory authority, stock market, stock exchange or trading facility (an “Action”)
now pending or, to the knowledge of the Company, threatened, against or affecting the Company or any of its subsidiaries, wherein an unfavorable
decision, ruling or finding would (i) adversely affect the validity or enforceability of, or the authority or ability of the Company to
perform its obligations under this Agreement or any of the other Transaction Documents, or (ii) have a Material Adverse Effect.

 

		h.	Acknowledgment Regarding Investor’s Purchase of the Securities. The Company acknowledges
and agrees that each Investor is acting solely in the capacity of an arm’s length purchaser with respect to the Transaction Documents
and the transactions contemplated hereby and thereby. The Company further acknowledges that each Investor is not acting as a financial
advisor or fiduciary of the Company (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated
hereby and thereby and any advice given by such Investor or any of their respective representatives or agents in connection with the Transaction
Documents and the transactions contemplated hereby and thereby is merely incidental to such Investor’s purchase of the Securities.

 

		i.	No General Solicitation. Neither the Company, nor any of its “affiliates” (as used
herein, “affiliate” shall have the meaning defined in Rule 144 promulgated under the Securities Act), nor, to the knowledge
of the Company, any person acting on its or their behalf, has engaged in any form of general solicitation or general advertising (within
the meaning of Regulation D) in connection with the offer or sale of the Securities.

 

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		j.	No Integrated Offering. Neither the Company, nor any of its affiliates, nor to the knowledge of
the Company, any person acting on its or their behalf has, directly or indirectly, made any offers or sales of any security or solicited
any offers to buy any security, under circumstances that would require registration of the Securities under the Securities Act or cause
this offering of the Securities to be integrated with prior offerings by the Company for purposes of the Securities Act.

 

		k.	Employee Relations. The Company is not involved in any labor dispute nor, to the knowledge of the
Company, is any such dispute threatened. The Company is not party to any collective bargaining agreement. The Company’s employees
are not members of any union, and the Company believes that its relationship with their respective employees is good.

 

		l.	Permits. The Company has all authorizations, approvals, clearances, licenses, permits, certificates
or exemptions issued by any regulatory authority or governmental agency (collectively, “Permits”) required to conduct their
respective businesses as currently conducted except to the extent that the failure to have such Permits would not have a Material Adverse
Effect. The Company or its subsidiaries have fulfilled and performed in all material respects their obligations under each Permit, and,
as of the date hereof, to the knowledge of the Company, no event has occurred or condition or state of facts exists which would constitute
a breach or default or would cause revocation or termination of any such Permit except to the extent that such breach, default, revocation
or termination would not have a Material Adverse Effect.

 

		m.	Title. The Company has good and marketable title to all of its real and personal property and assets,
free and clear of any material restriction, mortgage, deed of trust, pledge, lien, security interest or other charge, claim or encumbrance
which would have a Material Adverse Effect. With respect to properties and assets it leases, the Company is in material compliance with
such leases and holds a valid leasehold interest free of any liens, claims or encumbrances which would have a Material Adverse Effect.

 

		n.	Rights of First Refusal. The Company is not obligated to offer the securities offered hereunder
on a right of first refusal basis or otherwise to any third parties including, but not limited to, current or former stockholders of the
Company, underwriters, brokers, agents or other third parties.

 

		o.	Reliance. The Company acknowledges that the Investor is relying on the representations and warranties
made by the Company hereunder and that such representations and warranties are a material inducement to the Investor purchasing the Securities.
The Company further acknowledges that without such representations and warranties of the Company made hereunder, the Investors would not
enter into this Agreement.

 

		p.	Brokers’ Fees. The Company does not have any liability or obligation to pay any fees or commissions
to any broker, finder or agent with respect to the transactions contemplated by this Agreement, except for the payment of fees to the
Placement Agent as described above.

 

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		q.	Off-Balance Sheet Arrangements. There is no transaction, arrangement, or other relationship between
the Company or any subsidiary and an unconsolidated or other off-balance sheet entity that is required to be disclosed by the Company
in the Financial Statements and is not so disclosed or that otherwise would have a Material Adverse Effect.

 

		r.	Investment Company. The Company is not required to be registered as, and is not an affiliate of,
and immediately following the Closing will not be required to register as, an “investment company” within the meaning of the
Investment Company Act of 1940, as amended.

 

		s.	Patents and Trademarks. The Company and its subsidiaries have, or have rights to use, all patents,
patent applications, trademarks, trademark applications, service marks, trade names, copyrights, licenses and other similar rights that
are necessary or material for use in connection with their respective businesses as described in the SEC Reports and which the failure
to so have could have a Material Adverse Effect (collectively, the “Intellectual Property Rights”). Neither the Company nor
any subsidiary has received a written notice that the Intellectual Property Rights used by the Company or any subsidiary violates or infringes
upon the rights of any Person. To the knowledge of the Company, all such Intellectual Property Rights are enforceable and there is no
existing infringement by another Person of any of the Intellectual Property Rights.

 

9.   Indemnification.
 I hereby agree to indemnify and hold harmless the Company and its officers, directors, shareholders, employees, agents, advisors
and counsel, and Boustead Securities, LLC and its officers, directors, shareholders, employees, agents, advisors and counsel, against
any and all losses, claims, demands, liabilities and expenses (including reasonable legal or other expenses, including reasonable attorneys’
fees) incurred by each such person in connection with defending or investigating any such claims or liabilities, whether or not resulting
in any liability to such person, to which any such indemnified party may become subject under the Securities Act, under any other statute,
at common law or otherwise, insofar as such losses, claims, demands, liabilities and expenses (a) arise out of or are based upon any untrue
statement or alleged untrue statement of a material fact made by me and contained in this Agreement or my Investor Representation and
Suitability Questionnaire, or (b) arise out of or are based upon any breach by me of any representation, warranty, or agreement made by
me contained herein or therein.

 

10.   Severability.
 In the event any parts of this Agreement are found to be void, the remaining provisions of this Agreement shall nevertheless be
binding with the same effect as though the void parts were deleted.

 

11.   Choice
of Law and Jurisdiction. This Agreement shall be governed by the laws of the State of Nevada as applied to contracts entered
into and to be performed entirely within the State of Nevada. Any action arising out of this Agreement shall be brought exclusively
in a court of competent jurisdiction in Dallas County, Texas, and the parties hereby irrevocably waive any objections they may have to
venue in Dallas County, Texas.

 

12.   Counterparts.
 This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together
shall constitute one and the same instrument. The execution of this Agreement may be by actual or facsimile signature.

 

13.   Benefit;
Intended Third Party Beneficiary. This Agreement shall be binding upon and inure to the benefit of the parties hereto. The
Placement Agent is an intended third party beneficiary of this Agreement, including the representations and warranties made by both the
Company and the Investor herein and the indemnification provided by the Investor herein and may directly enforce this Agreement and its
rights hereunder.

 

    A-10

     

    

 

14.   Notices
and Addresses. All notices, offers, acceptance and any other acts under this Agreement (except payment) shall be in writing,
and shall be sufficiently given if delivered to the addresses in person, by Federal Express or similar courier delivery, as follows:

 

	 	Investor:	At the address designated on the signature
	 	 	page of this Agreement.
	 	 	 
	 	The Company:	Asset Entities Inc.
	 	 	100 Crescent Ct, 7th Floor
	 	 	Dallas, TX 75201

 

or to such other address as any of them, by notice
to the others may designate from time to time. The transmission confirmation receipt from the sender’s facsimile machine shall
be conclusive evidence of successful facsimile delivery. Time shall be counted to, or from, as the case may be, the delivery in
person or by mailing.

 

15.   Entire
Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof
and supersedes all prior oral and written agreements between the parties hereto with respect to the subject matter hereof. This
Agreement may not be changed, waived, discharged, or terminated orally but, rather, only by a statement in writing signed by the party
or parties against which enforcement or the change, waiver, discharge or termination is sought.

 

16.   Section
Headings. Section headings herein have been inserted for reference only and shall not be deemed to limit or otherwise affect,
in any matter, or be deemed to interpret in whole or in part, any of the terms or provisions of this Agreement.

 

17.   Survival
of Representations, Warranties and Agreements. The representations, warranties and agreements contained herein shall survive
the delivery of, and the payment for, the Securities.

 

18.   Acceptance
of Subscription. The Company may accept this Agreement at any time for all or any portion of the Securities subscribed for
by executing a copy hereof as provided and notifying me within a reasonable time thereafter.

 

RESIDENTS OF ALL STATES: THE SECURITIES
OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF
ANY STATE OR OTHER JURISDICTION AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF SAID ACT
AND SUCH LAWS. THE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT
AS PERMITTED UNDER SAID ACT AND SUCH LAWS PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY WILL
BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE SECURITIES HAVE NOT BEEN APPROVED
OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY, NOR HAVE ANY
OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THE SUBSCRIPTION PACKAGE.
 ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

 

FOR FLORIDA RESIDENTS: THE SECURITIES OFFERED
HEREBY WILL BE SOLD, AND ACQUIRED, IN A TRANSACTION EXEMPT UNDER SECTION 517.061(11) OF THE FLORIDA SECURITIES AND INVESTOR PROTECTION
ACT. THE SECURITIES HAVE NOT BEEN REGISTERED UNDER SAID ACT IN THE STATE OF FLORIDA. PURSUANT TO SECTION 517.061(11) OF THE FLORIDA SECURITIES
AND INVESTOR PROTECTION ACT, WHEN SALES ARE MADE TO FIVE (5) OR MORE PERSONS (EXCLUDING ACCREDITED INVESTORS) IN THE STATE OF FLORIDA,
ANY SALE IN THE STATE OF FLORIDA MADE PURSUANT TO SECTION 517.061(11) OF SUCH ACT IS VOIDABLE BY THE PURCHASER IN SUCH SALE (WITHOUT INCURRING
ANY LIABILITY TO THE COMPANY OR TO ANY OTHER PERSON OR ENTITY) EITHER WITHIN THREE (3) DAYS AFTER THE FIRST TENDER OF CONSIDERATION IS
MADE BY SUCH PURCHASER TO THE ISSUER, AN AGENT OF THE ISSUER, OR AN ESCROW AGENT OR WITHIN THREE (3) DAYS AFTER THE AVAILABILITY OF THAT
PRIVILEGE IS COMMUNICATED TO SUCH PURCHASER, WHICHEVER OCCURS LATER. TO VOID HIS OR HER PURCHASE, THE PURCHASER NEED ONLY SEND A LETTER
OR TELEGRAM TO THE COMPANY AT THE ADDRESS INDICATED HEREIN. ANY SUCH LETTER OR TELEGRAM SHOULD BE SENT AND POSTMARKED PRIOR TO THE END
OF THE AFOREMENTIONED THREE (3) DAY PERIOD. IT IS PRUDENT TO SEND ANY SUCH LETTER BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO ASSURE
THAT IT IS RECEIVED AND ALSO TO HAVE EVIDENCE OF THE TIME THAT IT WAS MAILED. SHOULD A PURCHASER MAKE THIS REQUEST ORALLY, THAT PURCHASER
MUST ASK FOR WRITTEN CONFIRMATION THAT THE REQUEST HAS BEEN RECEIVED. IF NOTICE IS NOT RECEIVED WITHIN THE TIME LIMIT SPECIFIED HEREIN,
THE FOREGOING RIGHT TO VOID THE PURCHASE SHALL BE NULL AND VOID.

 

    A-11

     

    

 

THE AGGREGATE AMOUNT SUBSCRIBED FOR HEREBY IS:

 

_______________ Shares at a per Share Purchase Price of $1.00 per
share

 

	— 	Individual Ownership	—	Community Property	 
	— 	Joint Tenant with Right of Survivorship (both parties must sign)	 
	— 	Partnership	—	Tenants in common	 
	—  	  Corporation Trust	—	IRA or Keogh	 
	— 	Other (please indicate)	 

 

	INDIVIDUAL INVESTORS	 	ENTITY INVESTORS
	 	 	Name of entity, if any:
	 	 	 
	 	 	 
	Signature (Individual)	 	By:	                        
	 	 	*Signature
	 	 	Its	
	Signature (Joint) 

(all record holders must sign)	 	 
	 	 	 
	 	 	 
	Name(s) Typed or Printed	 	Name Typed or Printed
	 	 	 
	Address to Which Correspondence

Should be Directed	 	Address to Which Correspondence

Should be Directed 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	City, State and Zip Code	 	City, State and Zip Code
	 	 	 
	 	 	 
	Tax Identification or 

Social Security Number	 	Tax Identification or 

Social Security Number
	 	 	 
	 	 	 
	Email Address	 	Email Address

 

	*	If Securities are being subscribed for by any entity,
the Certificate of Signatory on the next page must also be completed.

 

SIGNATURE PAGE FOLLOWS

 

    A-12

     

    

 

The foregoing subscription is accepted and the Company hereby agrees
to be bound by its terms on _____ day of ___________________, 2022.

 

	 	Asset Entities Inc.
	 	 
	Dated: _____________ ___, 2022	By:	 
	 	Name  : 	Arshia Sarkhani
	 	Its: 	CEO

 

    A-13

     

    

 

CERTIFICATE OF SIGNATORY

 

(To be completed if Securities are being subscribed for by an entity)

 

I, ____________________________, the __________________________________

(name of signatory)                                               (title)

 

of ________________________________________ (“Entity”),
a ________________________

(name of entity)                                                                             (type of entity)

 

Organized under the laws of ______________, hereby certify that I am
empowered and duly authorized by the Entity to execute the Agreement and to purchase the Securities, and certify further that the Agreement
has been duly and validly executed on behalf of the Entity and constitutes a legal and binding obligation of the Entity.

 

IN WITNESS WHEREOF, I have set my hand this ______ day of ____________,
2022.

 

	 	
     

	 	(Signature)

 

    A-14

     

    

 

Exhibit A to Agreement

 

INSTRUCTIONS AND 

INVESTOR REPRESENTATION AND SUITABILITY QUESTIONNAIRE

 

    A-15

     

    

 

ASSET ENTITIES INC.

(the “Company”)

 

INSTRUCTIONS FOR COMPLETION OF

INVESTOR REPRESENTATION

AND SUITABILITY QUESTIONNAIRE

 

		Item I:	Name and address information
must be provided. Securities will be issued in the name(s) set forth in this Item and delivered to the address set forth in this Item.
If two people are subscribing jointly, both people must provide their names and social security numbers. A telephone number must also
be provided.

 

		Item II:	If the securities are to be held in a different name than the investor and sent to a different address
(i.e., an IRA or other account held at a brokerage firm), this Item must be completed. If the securities are to be issued and delivered
directly to the entity listed in Item I, this Item need not be completed.

 

		Item III:	This Item needs to be read by the investor, but nothing needs to be written here. The Securities are suitable
for investment only by prospective investors who are “Accredited Investors.”

 

		Item IV:	A.	Only complete this Item by checking the appropriate line if you are an individual investor.

 

		B.	Only complete this Item if you are an entity investor.

 

		C.	Only complete this Item if you are a trust investor.

 

		Item V:	This Item needs to be read by the investor, but nothing needs to be written here.

 

		Item VI:	The USA Freedom Act requires us to collect information on the sources of funds. Please complete section
1, add the documents requested in section 2 only if funds did not come from an approved country (U.S. is approved), and complete section
3.

 

		Item VII:	You must thoroughly complete the Suitability Questionnaire, in order for the Company and the Managing
Dealer to make a determination whether this is a suitable investment for you.

 

		Item VIII:	You and must sign and date here.

 

    A-16

     

    

 

INSTRUCTIONS FOR PAYMENT

 

Review and complete the Investor Representation
& Suitability Questionnaire and deliver it to the email or address below along with payment for your investment.

 

	Email:	offerings@boustead1828.com	 
	Subject:	Asset Entities Inc. – [Investor Name]	 
	 	 	 
	Address:	Boustead Securities, LLC	 
		6 Venture, Suite 395	 
		Irvine, CA 92618	 
	 	 	 
	WIRE INSTRUCTIONS
	 	 	 
	Bank Name:	Banc of California	 
	Bank Address: 	3 MacArthur Place	 
		Santa Ana, CA 92707	 
	SWIFT Code:	BCLFUS66	 
	Routing #:	122243774	 
	 	 	 
	Account Name:	Sutter Securities Inc.	 
	Account #:	2030650369	 
	REF / Notes: 	Asset Entities Inc. – [Investor Name]	 
	 	 	 
	If you need assistance, please contact:	 
	 	 	 
	Email:	offerings@boustead1828.com	 
	Phone:	(949) 502-4408	 

 

    A-17

     

    

 

	INVESTOR REPRESENTATION & SUITABILITY QUESTIONNAIRE
	
    Please read all instructions of this Investor
    Representation and Suitability Questionnaire (this “Questionnaire”) carefully before filling out this Questionnaire. This
    is a legally binding document. If you need assistance, please call 949-502-4408 or by email at offerings@boustead1828.com.

     

	I.
     ACCOUNT REGISTRATION
	 

	☐  Individual Account	 	☐	Trust	 	☐ 	Corporation,
    Partnership, LLC, 
	☐ 
    Joint Registration	 	☐ 	Individual Retirement Account (IRA)	 	 	Pension or Profit-Sharing
    Plan. Association, or other Entity
	*
    If no box below is checked, we will issue the securities as JTWROS.	 	 	   	 	 	 
	 	☐ 	Joint Tenants with

Rights of Survivorship *	 	 	   	 	 	 
	 	☐  	Tenants in Common	 	 	   	 	 	 
	 	☐  	Tenants in Entirety	 	   	 	 	 	 
	 	☐  	Community Property	 	 	   	 	 	 

 

	PLEASE PUT A CHECK NEXT TO EACH SOCIAL SECURITY NUMBER OR TAX ID NUMBER THAT IS RESPONSIBLE FOR TAXES. WE WILL REPORT THIS NUMBER TO THE IRS.

 	 	 	 	 	☐
	Name of INVESTOR (Individual, Entity, Custodian, Trust or Beneficiary) 	 	Date of Birth 	 	Soc. Sec. / Tax ID #
	 
		 	 	 	☐
	Name of SIGNER (Signer for Entity, Trust. Name of IRA Participant) 	 	Date of Birth 	 	Soc. Sec. / Tax ID #
	 
		 	 	 	☐
	Name of JOINT INVESTOR or CO- TRUSTEE (if applicable)	 	Date of Birth 	 	Soc. Sec. / Tax ID #

 

	Marital
    Status (please check one): 		☐  Single
    	 	☐  Married	☐  Other
	 	 	 	 	 	 
	$	 	Total Investment Amount

	 	 

 

	HOME ADDRESS	 	 ☐ USE THIS ADDRESS FOR
    MAILING

 

	 	 	 	
	Street Address 	 		 	

Apt / Suite / Unit #

	 
		 	 	 	
	City 	 	State 	 	Zip
	 
		 	 	 	
	Home Phone	 	Fax 	 	Email

 

	BUSINESS
    ADDRESS	 	☐
    USE THIS ADDRESS FOR MAILING

 

	 	 	 	
	Street Address 	 		 	

Apt / Suite / Unit #

	 
		 	 	 	
	City 	 	State 	 	Zip
	 
		 	 	 	 
	Business Phone	 	Fax 	 	Email

 

	II. ALTERNATIVE DISTRIBUTION INFORMATION

 

To direct distributions to a party other than the registered owner, complete the information below. YOU MUST COMPLETE THIS ITEM IF THIS IS AN IRA INVESTMENT.

 

	Name of Firm (Bank or Brokerage):	 

 

	Account
Name: 	 	 	 	Account
#:   	 
	 
	Address:
	 	 

 

     

     

    

 

	III. INVESTOR REPRESENTATIONS & AUTHORIZATIONS

 

You as an individual or you on behalf of the subscribing entity are being asked to complete this Investor Representation and Suitability Questionnaire so a determination can be made as to whether or not you are qualified to purchase securities under applicable federal and state securities laws. Your answers to the questions contained herein must be true and correct in all respects, and a false representation by you may constitute a violation of law for which a claim for damages may be made against you.  

 

Your answers will be kept strictly confidential; however, by signing this Questionnaire, you will be authorizing release of this Questionnaire to make certain that the offer and sale of the securities will not result in a violation of the Securities Act of 1933, as amended (the “Act”) or of the securities laws of any state.

 

This Questionnaire does not constitute an offer
to sell or a solicitation of an offer to buy securities or any other security. All questions must be answered. If the appropriate answer
is “None” or “Not Applicable,” please state so. Please print or type your answers to all questions and attach
additional sheets if necessary to complete your answers to any item. Please initial any correction.

 

 

INDIVIDUAL SUBSCRIBERS: If
the securities subscribed for are to be owned by more than one person, you and the other co-subscriber must each complete separate Questionnaires
(except if the co-subscriber is your spouse or spousal equivalent) and sign the Signature Page annexed hereto. If your spouse or spousal
equivalent is a co-subscriber, you must indicate their name and social security number.   

 

CORPORATIONS, PARTNERSHIPS, PENSION
PLANS AND TRUSTS: The information requested herein relates to the subscribing entity and not to you personally (unless otherwise
determined in the Item IV. Accredited Investor Status).  

 

	IV. ACCREDITED INVESTOR STATUS

 

TO BE AN ACCREDITED INVESTOR, YOU MUST MEET
ONE OF THE FOLLOWING TESTS, PLEASE CHECK THE APPROPRIATE SPACES BELOW.

 

A.
INDIVIDUAL ACCOUNTS:

 

I certify that I am an “accredited investor”
because:

 

(a)
___ I had an individual income of more than $200,000 in each of the two most recent calendar years, and I reasonably expect to
have an individual income in excess of $200,000 in the current calendar year; or my spouse or spousal equivalent and I had joint income
in excess of $300,000 in each of the two most recent calendar years, and we reasonably expect to have a joint income in excess of $300,000
in the current calendar year (please complete “Item V. Income Statement”); or

 

(b)
I have an individual net worth, or my spouse or spousal equivalent and I have a joint net worth, in excess of $1,000,000 (excluding my
(our) primary residence); or

 

(c)
I hold in good standing the FINRA Series 7, Series 65, or Series 82 licenses, and/or other such certain professional certifications, designations
or credentials or other credentials issued by an accredited educational institution, which the SEC may designate from time to time by
order; or

 

(d)
I am a knowledgeable employee of the fund. (This should only be answered with respect to investments in a private fund); or

 

(e)
I am a director, executive officer, or general partner of the issuer of the securities being offered or sold, or any director, executive
officer, or general partner of a general partner of that issuer.

 

     

     

    

 

For purposes of this Questionnaire “individual income”
means “adjusted gross income” as reported for Federal income tax purposes, exclusive of any income attributable to a spouse
or spousal equivalent or to property owned by a spouse or spousal equivalent, and increased by the following amounts:

 

(i) the amount of any interest income received which is tax-exempt
under Section 103 of the Internal Revenue Code of 1986, as amended, (the “Code”); (ii) the amount of losses claimed as a limited
partner in a limited partnership (as reported on Schedule E of form 1040); (iii) any deduction claimed for depletion under Section 611
et seq. of the Code; and (iv) any amount by which income from long-term capital gains has been reduced in arriving at adjusted gross income
pursuant to the provisions of Sections 1202 of the Code as it was in effect prior to enactment of the Tax Reform Act of 1986.

 

For purposes of this Questionnaire, “joint income” means
“adjusted gross income” as reported for federal income tax purposes, including any income attributable to a spouse or spousal
equivalent or to property owned by a spouse or spousal equivalent and increased by the following amounts:

 

(i) the amount of any interest income received which is tax-exempt
under Section 103 of the Code; (ii) the amount of losses claimed as a limited partner in a limited partnership (as reported on Schedule
E of Form 1040); (iii) any deduction claimed for depletion under Section 611 et seq. of the Code; and (iv) any amount by which income
from long-term capital gains has been reduced in arriving at adjusted gross income pursuant to the provisions of Section 1202 of the Code
as it was in effect prior to enactment of the Tax Reform Act of 1986.

 

For the purposes of this Questionnaire, “net worth” means
(except as otherwise specifically defined) the excess of total assets at fair market value over total liabilities, excluding your primary
residence and the related amount of indebtedness secured by the primary residence up to its fair market value; provided, however,
that indebtedness secured by the primary residence should be considered a liability and deducted from net worth to the extent that (i)
the amount of such indebtedness outstanding at the time of completion of this Questionnaire exceeds the amount outstanding 60 calendar
days before such time, other than as a result of the acquisition of the primary residence; and (ii) the amount of the indebtedness exceeds
the estimated fair market value of the primary residence at the time of completion of this Questionnaire.

 

For the purposes of this Questionnaire, “spousal
equivalent” means a cohabitant occupying a relationship generally equivalent to that of a spouse or spousal equivalent.

 

 

B.
CORPORATIONS, PARTNERSHIPS, LIMITED LIABILITY COMPANIES, EMPLOYEE BENEFIT PLANS, OR OTHER ENTITIES (Please provide a copy of the Corporate
Resolution authorizing this investment, Partnership Agreement, Limited Liability Company Operating Agreement, Employee Benefit Plan, or
other entity documentation as applicable.)

 

Has the subscribing
entity been formed for the specific purpose of investing in the securities? ☐
Yes ☐ No

 

If your answer to the question above is “No,” CHECK whichever
of the following statements (a-e) is applicable to the subscribing entity. If your answer to the question above is “Yes,”
the subscribing entity must be able to certify to statement (c) below in order to qualify as an “accredited investor.”

 

The undersigned certifies that:

 

(a)
___ the undersigned entity is an “accredited investor,” because it is an employee benefit plan within the meaning of
Title I of the Employee Retirement Income Security Act of 1974 (“ERISA”), provided that the investment decision is made by
a plan fiduciary, as defined in Section 3(21) of ERISA, and the plan fiduciary is a bank, savings and loan association, insurance company
or registered investment adviser; or

 

(b)
___ the undersigned entity is an “accredited investor,” because it is an employee benefit plan within the meaning of
ERISA, Title I that has total assets in excess of $5,000,000; or

 

(c)
___ Any private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940, as amended;
or

 

     

     

    

 

(d)
___ the undersigned entity is an “accredited investor because it is an entity whose shareholders, partners, beneficiaries
or equity owners are all accredited investors (If you are checking this option, please submit a list of all owners; EACH owner
of the entity must complete Item IV and, complete Item V, if applicable, and Item VI. Make copies of this Item IV, Item VI (and
V if applicable) to do this and note each owner’s name on each copy); I am one of its equity owners; and I meet at least one
of the conditions described below (Please also CHECK the appropriate space below):

 

☐ I
had an individual income of more than $200,000 in each of the two most recent calendar years, and I reasonably expect to have an
individual income in excess of $200,000 in the current calendar year; or my spouse or spousal equivalent and I had joint income in
excess of $300,000 in each of the two most recent calendar years, and we reasonably expect to have a joint income in excess of
$300,000 in the current calendar year (please complete “Item V. Income Statement”); or

 

☐ I
have an individual net worth, or my spouse or spousal equivalent and I have a joint net worth, in excess of $1,000,000 (excluding my
(our) primary residence); or

 

☐ I
hold in good standing the FINRA Series 7, Series 65, or Series 82 licenses, and/or other such certain professional certifications,
designations or credentials or other credentials issued by an accredited educational institution, which the SEC may designate from
time to time by order; or

 

☐ I
am a knowledgeable employee of the fund; or

 

☐ I
am a director, executive officer, or general partner of the issuer of the securities being offered or sold, or any director,
executive officer, or general partner of a general partner of that issuer.

 

(e)
___ the undersigned entity is an “accredited investor,” because it is a self-directed employee benefit plan; I solely
make its investment decisions; and I meet at least one of the conditions described below (Please also CHECK the appropriate space below):

 

☐ I
had an individual income of more than $200,000 in each of the two most recent calendar years, and I reasonably expect to have an
individual income in excess of $200,000 in the current calendar year; or my spouse or spousal equivalent and I had joint income in
excess of $300,000 in each of the two most recent calendar years, and we reasonably expect to have a joint income in excess of
$300,000 in the current calendar year (please complete “Item V. Income Statement”); or

 

☐ I
have an individual net worth, or my spouse or spousal equivalent and I have a joint net worth, in excess of $1,000,000 (excluding my
(our) primary residence); or

 

☐ I
hold in good standing the FINRA Series 7, Series 65, or Series 82 licenses, and/or other such certain professional certifications,
designations or credentials or other credentials issued by an accredited educational institution, which the SEC may designate from
time to time by order; or

 

☐
I am a knowledgeable employee of the fund; or

 

☐ I
am a director, executive officer, or general partner of the issuer of the securities being offered or sold, or any director, executive
officer, or general partner of a general partner of that issuer.

 

or

 

(f)  
___ the undersigned entity is an “accredited investor,” because it is an organization described in section 501(c)3
of the Internal Revenue Code, corporation, Massachusetts or similar business trust, or partnership, not formed for the specific purpose
of acquiring the securities offered, with total assets in excess of $5,000,000; or

 

(g)
___ the undersigned entity is an “accredited investor,” because it is a limited liability company, SEC or state -registered
Investment Adviser, Exempt Reporting Adviser, or a rural business investment company (RBIC) with $5,000,000 in assets; or

 

(h)
___ the undersigned entity is an “accredited investor,” because it is an Indian tribe, governmental body, fund, or
any entity organized under the laws of foreign countries, that own “investments,” as defined in Rule 2a51-1(b) under the Investment
Company Act, in excess of $5,000,000 and that was not formed for the specific purpose of investing in the securities offered; or

 

(i)  
___ the undersigned entity is an “accredited investor,” because it is a family office with at least $5,000,000 in assets
under management and their “family clients,” as each term is defined under the Investment Advisers Act.

 

     

     

    

 

C.  
TRUST ACCOUNTS (Please provide a complete copy of the Trust document.)

 

Has the subscribing
entity been formed for the specific purpose of investing in the securities? ☐
Yes ☐ No

 

If your answer to the question above is “No,” CHECK whichever
of the following statements (a-c) is applicable to the subscribing entity. If your answer to the question above is “Yes,”
the subscribing entity must be able to certify to the statement (c) below in order to qualify as an “accredited investor.”

 

The undersigned trustee certifies that the trust is an “accredited
investor” because:

 

(a)
___ the trust has total assets in excess of $5,000,000 and the investment decision has been made by a “sophisticated person,”
as described in Rule 506(b)(ii) promulgated under the Act; or

 

(b)
___ the trustee making the investment decision on its behalf is a bank (as defined in Section 3(a)(2) of the Act), a saving and
loan association or other institution as defined in Section 3(a)(5)(A) of the Act, acting in its fiduciary capacity; or

 

(c)
___ the grantor(s) of the trust may revoke the trust at any time and regain title to the trust assets and has (have) retained sole
investment control over the assets of the trust and the (each) grantor(s) meets at least one of the conditions described below. Each
grantor must also INITIAL the appropriate space below.

 

☐  I
had an individual income of more than $200,000 in each of the two most recent calendar years, and I reasonably expect to have an
individual income in excess of $200,000 in the current calendar year; or my spouse or spousal equivalent and I had joint income in
excess of $300,000 in each of the two most recent calendar years, and we reasonably expect to have a joint income in excess of
$300,000 in the current calendar year (please complete “Item V. Income Statement”); or

 

☐  I
have an individual net worth, or my spouse or spousal equivalent and I have a joint net worth, in excess of $1,000,000 (excluding my
(our) primary residence); or

 

☐  I
hold in good standing the FINRA Series 7, Series 65, or Series 82 licenses, and/or other such certain professional certifications,
designations or credentials or other credentials issued by an accredited educational institution, which the SEC may designate from
time to time by order; or

 

☐  I
am a knowledgeable employee of the fund; or

 

☐  I
am a director, executive officer, or general partner of the issuer of the securities being offered or sold, or any director,
executive officer, or general partner of a general partner of that issuer.

 

     

     

    

 

	V. CERTIFICATIONS

 

understand that investment in the securities
is an illiquid investment. In particular, I recognize that I must bear the economic risk of investment in the securities for an indefinite
period of time since the securities have not been registered under the Act and therefore cannot be sold unless either they are subsequently
registered under the Act or an exemption from such registration is available and a favorable opinion of counsel for the Company to that
effect is obtained if requested by the Company. I consent to the affixing by the Company of such legends on certificates representing
the securities as any applicable federal or state securities law may require from time to time.

 

I represent and warrant to the Company that: (i)
all information provided in this Questionnaire is complete, true and correct; (ii) I and my investment managers, if any, have carefully
reviewed and understand the risks of, and other considerations relating to, a purchase of these securities, including, but not limited
to, the risks set forth in the risk factor disclosure document and other Offering Materials provided to me; (iii) I and my investment
managers, if any, have been afforded the opportunity to obtain all information necessary to verify the accuracy of any representations
or information in the transaction documents for this offering and other information provided to the undersigned and have had all inquiries
to the Company answered, and have been furnished all requested materials relating to the Company and the offering and sale of the securities;
(iv) I have such knowledge and experience in financial and investment matters, either alone or with my investment managers, that I am
capable of evaluating the merits and risks of this investment; (v) neither I nor my investment managers, if any, have been furnished any
offering literature by the Company or any of its affiliates, associates or agents other than the transaction documents, the term sheet,
Risk Factor Disclosure Document, as amended, and the investor presentation provided to the undersigned by the Company related to this
investment (collectively, the “Offering Materials”) relating to this investment, and the documents referenced therein; and
(vi) I am acquiring the securities for which I am subscribing for my own account, as principal, for investment and not with a view to
the resale or distribution of all or any part of the securities. By my completion of this Questionnaire and execution of other transaction
documents, I confirm and agree that I have reviewed and understand the provisions of each such transaction document and, should my subscription
be accepted by the Company, agree to be bound thereby.

 

The undersigned, if a corporation, partnership,
trust or other form of business entity: (i) is authorized and otherwise duly qualified to purchase and hold the securities; (ii) has obtained
such additional tax and other advice that it has deemed necessary; (iii) has its principal place of business at its address set forth
in this Questionnaire; and (iv) has not been formed for the specific purpose of acquiring the securities (although this may not necessarily
disqualify the subscriber as a purchaser). The persons completing this Questionnaire and executing all other documents related to the
offering, represent that they are duly authorized to complete or execute all such documents on behalf of the entity. (If the undersigned
is one of the aforementioned entities, it agrees to supply any additional written information that may be required.

 

All of the information which I have furnished
to the Company, and which is set forth in this Questionnaire is correct and complete as of the date of this Questionnaire. If any material
change in this information should occur prior to my subscription being accepted, I will immediately furnish the revised or corrected information.
I further agree to be bound by all of the terms and conditions of the Offering Materials. I am the only person with a direct or indirect
interest in the securities subscribed for hereby.

 

I agree to indemnify and hold harmless the Company
and its Officers, Directors, employees, affiliates, and agents as well as the brokerage firm through which I am subscribing (if any) and
all of its officers, directors, employees, affiliates, and agents from and against all damages, losses, costs and expenses (including
reasonable attorneys’ fees) they may incur by reason of the failure of the undersigned to fulfill any of the terms or conditions
set forth in the transaction documents. This subscription is not transferable or assignable by me without the written consent of the Company.
If more than one person is completing this Questionnaire, the obligations of each shall be joint and several, and the representations
contained in this Questionnaire shall be deemed to be made by, and be binding upon, each of these persons and his or her heirs, executors,
administrators, successors, and assigns. This subscription, upon acceptance by the Company, shall be binding upon my heirs, executors,
administrators, successors, and assigns.

 

This Questionnaire and all acts and transactions
pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed, and interpreted in accordance with
the laws of the State of California, without giving effect to principles of conflicts of law.

 

Under penalties of perjury, by signing below I
certify that (i) my taxpayer identification number shown in this Questionnaire is correct; and (ii) I am not subject to backup withholding
because: (a) I have not been notified that I am subject to backup withholding as a result of a failure to report all interest and dividends;
or (b) the Internal Revenue Service has notified me that I am no longer subject to backup withholding. (If you have been notified that
you are subject to backup withholding and the Internal Revenue Service has not advised you that backup withholding has been terminated,
strike out item (ii)).

 

     

     

    

 

	VI. INFORMATION REQUIRED BY FEDERAL LAW

 

he USA Freedom Act requires us to obtain the
following information from you to detect and prevent misuse of the world financial system.

 

		1.	In the space provided below, please provide details of where monies were transferred from to the Company
in relation to your subscription for the securities.

 

	Country	Name of Bank / Financial Institution	Name of Account Holder	Account Number
	 	 	 	 

 

If the country from which the monies were transferred
appears in the Approved Country List below, please skip to section 3. If the country does not appear, please go to section 2.

 

	Argentina	Australia	Austria	Belgium	Brazil
	Canada	Denmark	Finland	France	Germany0.75
	Greece	Gulf Cooperation Council	Hong Kong	*Iceland	Ireland
	Italy	Japan	The Netherlands (including the Netherlands Antilles and Aruba)	Luxembourg	Mexico
	New Zealand	Norway	Portugal	*Russian Federation	Singapore
	South Africa	Spain	Sweden	Switzerland	Turkey
	United Kingdom	United States	 	 	 

 

	*	Vision Financial Markets will require enhanced due diligence as applicable.

 

		2.	If subscription monies were transferred to the Company from any country other than on the "Approved Country List" (see above),
please provide the following documentation to the Company (all copies should be in English and certified as being "true and correct
copies of the original" by a notary public of the jurisdiction of which you are resident).

 

		(a)	For Individuals:

 

		(i)	evidence of name, signature, date of birth and photographic
identification;

 

		(ii)	evidence of permanent address; and

 

		(iii)	where possible, a reference from a bank with whom the individual
maintains a current relationship and has maintained such relationship for at least two years.

 

		(b)	For Companies:

 

		(i)	a copy of its certificate of incorporation and any change
of name certificate;

 

		(ii)	a certificate of good standing;

 

		(iii)	a register or other acceptable list of directors and officers;

 

		(iv)	a properly authorized mandate of the company to subscribe
in the form, for example, of a certified resolution which includes naming authorized signatories;

 

		(v)	a description of the nature of the business of the company;

 

		(vi)	identification, as described above for individuals, for at
least two directors and authorized signatories;

 

		(vii)	a register of members or list of shareholders holding a controlling
interest; and

 

		(viii)	identification, as described above, for individuals who are
beneficial owners of corporate shareholders which hold 10% or more of the capital share of the company.

 

     

     

    

 

		(c)	For Partnerships and Unincorporated Businesses:

 

		(i)	a copy of any certificate of registration and a certificate
of good standing, if registered;

 

		(ii)	identification, as described above, for individuals and, where
relevant, companies constituting a majority of the partners, owners or managers and authorized signatories;

 

		(iii)	a copy of the mandate from the partnership or business authorizing
the subscription in the form, for example, of a certified resolution which includes naming authorized signatories; and

 

		(iv)	a copy of constitutional documents (formation and partnership
agreements).

 

		(d)	For Trusts:

 

		(i)	identification, as described above, for individuals or companies
(as the case may be) in respect of the trustees;

 

		(ii)	identification, as described above for individuals, of beneficiaries,
any person on whose instructions or in accordance with those wishes the trustee/nominee is prepared or accustomed to act and the settlor
of the trust; and

 

		(iii)	evidence of the nature of the duties or capacity of the trustee.

 

		3.	The Company is also required to verify the source of funds. To this end, summarize the underlying source of the funds remitted to
us (for example, where subscription monies were the profits of business (and if so, please specify type of business), investment income,
savings, etc.).

 

 

	Source of Funds:	 
	 
	 

 

	VII. SUITABILITY QUESTIONNAIRE

 

This is a speculative investment (Each responding
individual must complete his/her own Suitability Questionnaire)

 

Name of Individual Investor OR Name of Person
Answering Questions on behalf of an Entity/Trust/IRA Investor:

 

 

 

		A.	Please provide the below Identification information:

 

	ID Number:	 
	Place of Issuance: 	 
	Issue Date:	 
	Expiration Date:	 

 

Are
you a U.S. Citizen? ☐ Yes ☐ No

 

     

     

    

 

Please provide a copy of the photo page of
your government-issued identification.

 

		B.	Please provide your present employment status. If currently retired or unemployed, please provide your
last/most recent employment history:

 

Current Employment Status             Latest Role/Occupation             Latest Employer Name

 

 

 

 C. Please provide the following information concerning your financial experience:

 

C-1. Risk Tolerance (select one):

 

		☐	Speculative
– You are willing to accept substantial risk. May endure extensive volatility and very limited or no liquidity. You value the potential
for maximizing long-term returns over principal preservation.

 

		☐	Aggressive
– You are willing to accept considerable risk. You may endure high volatility and limited or very limited liquidity. You value
long-term appreciation over principal preservation.

 

		☐	Moderate
– You are willing to accept limited risk. You may endure some volatility and illiquidity. You value enhancing returns and principal
preservation equally. You are willing to risk losing a substantial amount of your investment.

 

		☐	Conservative
– You are willing to accept low risk for greater stability and liquidity. You value minimizing risk and maximizing principal preservation.

 

C-2. What is your primary investment
objective? (select one):

 

		☐	Investment
speculation

 

		☐	Steadily
accumulate wealth over the long term

 

		☐	Partially
fund my retirement

 

		☐	Other

 

C-3. What are your time horizon and liquidity needs?

 

		(a)	Time Horizon (select one):	(b) Liquidity Needs (select one):

 

		☐	10 years or more 	☐ Low

 

		☐	5 –10 years 	☐ Medium

 

		☐	2 – 5 years 	☐ High

 

		☐	Under
2 years

 

C-4. How much investment experience
do you have? (select one):

 

		☐	Extensive

 

		☐	Substantial

 

		☐	Moderate

 

		☐	Limited

 

		☐	None

 

     

     

    

 

C-5. Please state the approximate number
and total dollar amount of your prior investments in restricted securities (e.g., private placements):

 

No. of Investments: _________________                        Total Amount: _________________

 

C-6. Please indicate your Annual Income
and Net Worth:

 

	(a) Annual Income	(b) Net Worth	(c) Liquid Net Worth
	 	 	 
	☐ Under $25,000	☐ Under $25,000	☐ Under $25,000
	☐ $25,000 – $50,000	☐ $25,000 – $50,000	☐ $25,000 – $50,000
	☐ $50,000 – $75,000	☐ $50,000 – $75,000	☐ $50,000 – $75,000
	☐ $75,000 – $100,000	☐ $75,000 – $100,000	☐ $75,000 – $100,000
	☐ $100,000 – $200,000	☐ $100,000 – $150,000	☐ $100,000 – $150,000
	☐ $200,000 – $300,000	☐ $150,000 – $200,000	☐ $150,000 – $200,000
	☐ $300,000 – $500,000	☐ $200,000 – $250,000	☐ $200,000 – $250,000
	☐ $500,000 – $1,200,000	☐ $250,000 – $500,000	☐ $250,000 – $500,000
	☐ Over $1,200,000	☐ $500,000 – $1,000,000	☐ $500,000 – $1,000,000
		☐ $1,000,000–
$5,000,000	☐ $1,000,000 – $5,000,000
	 	☐ Over $5,000,000	☐ Over $5,000,000

 

C-7.Please provide in the space below any
additional information which would indicate that you have sufficient knowledge and experience in financial and business matters so that
you are capable of evaluating the merits and risks of investing in restricted securities of private or thinly traded enterprise.

 

 

 

 

 

		D.	Please provide the following information concerning your industry and other affiliations.

 

D-1. Are you, your spouse or spousal
equivalent, or any other immediate family members, including parents, in-laws, and siblings that are dependents, an officer, director
or greater than ten percent (10%) shareholder of the Company offering securities?

 

☐
Yes ☐ No

 

D-2. Are you, your spouse or spousal
equivalent, or any other immediate family members, including parents, in-laws, and siblings that are dependents, employed by or associated
with the securities industry (for example, investment advisor, sole proprietor, partner, officer, director, branch manager or broker at
a broker-dealer firm or municipal securities dealer) or a financial regulatory agency, such as FINRA or the New York Stock Exchange?

 

☐
Yes ☐ No

 

If yes, please provide the name and contact information
for such firm.

 

 

 

 

 

D-3. Are you a senior military, governmental or political
official in a non-US country?

 

☐
Yes ☐ No

 

If yes, please provide the name of the country.

 

 

 

		E.	Did anyone at Boustead Securities, LLC recommend the investment to you?

 

☐
Yes ☐ No

 

If yes, please provide the name of the individual.

 

 

 

		F.	Trusted Contact. If you are over 65 years old, please provide the name and contact phone number
of a trusted contact:

 

	 
	Name	 	Relationship	 	Contact Number

 

     

     

    

 

	VIII. SIGNATURES

 

This Questionnaire contains various statements
and representations by subscribers and should be carefully reviewed in its entirety before executing this signature page. I hereby certify
that I have reviewed and am familiar with the instructions of this Questionnaire.

 

☐  (check
if applicable) I hereby certify that I previously invested in the Company and that, unless otherwise indicated in this
Questionnaire, the information I provided in the Questionnaire dated for my previous investment continues to be true and correct and
is incorporated by reference into this Questionnaire.

 

Dated: ___________

 

	Print name of individual subscriber, custodian, person, corporation, trust:	 	Signature of individual subscriber, authorized Trustee:
	 	 	 
	 	 	 
	Print name of co-subscriber, authorized person, co-trustee if required by trust instrument:	 	Signature of co-subscriber, authorized person, co-trustee if required by trust instrument:
	 	 	 

 

Investment Authorization. The undersigned corporation, partnership,
limited liability company, benefit plan, or IRA has all requisite authority to acquire the securities hereby subscribed for and to complete
the Questionnaire, and further, the undersigned officer, partner, manager, or fiduciary of the subscribing entity has been duly authorized
by all requisite action on the part of such entity to execute these documents on its behalf. Such authorization has not been revoked and
is still in full force and effect.

 

Check Box:
☐ Yes             ☐ No             ☐ Not Applicable

 

	☐ Individual(s)	 	 	☐ Attorney-In-Fact	 
	☐ Partner(s)	 	 	☐ Trustee(s)	 
	☐ Corporate Officer:	 	 	☐ Other:	 
	 	Title	 		TitleEX-10.1

 EXHIBIT 10.1 

1996 EQUITY PARTICIPATION PLAN OF VIASAT, INC. 

(AS AMENDED AND RESTATED EFFECTIVE SEPTEMBER 1, 2022) 

Viasat, Inc., a Delaware corporation, adopted The 1996 Equity Participation Plan of Viasat, Inc. (the “Plan”), originally effective
October 24, 1996, for the benefit of its eligible employees, consultants and directors. The Plan consists of two plans, one for the benefit of key Employees (as such term is defined below) and consultants and one for the benefit of Independent
Directors (as such term is defined below). The following is an amendment and restatement of the Plan effective as of September 1, 2022 (the “Restatement Effective Date”), which is the date on which this amendment and restatement of
the Plan was approved by the stockholders of the Company. 
 The purposes of this Plan are as follows: 

(1) To provide an additional incentive for directors, key Employees and consultants to further the growth, development and financial success of
Viasat, Inc. (the “Company”) by personally benefiting through the ownership of Company stock and/or rights which recognize such growth, development and financial success. 

(2) To enable the Company to obtain and retain the services of directors, key Employees and consultants considered essential to the long range
success of the Company by offering them an opportunity to own stock in the Company and/or rights which will reflect the growth, development and financial success of the Company. 

ARTICLE I. DEFINITIONS 
 1.1
General. Wherever the following terms are used in this Plan they shall have the meanings specified below, unless the context clearly indicates otherwise. 

1.2 Award Limit. “Award Limit” shall mean One Million (1,000,000) shares of Common Stock with respect to Options or Stock
Appreciation Rights granted under the Plan and Three Hundred Thousand (300,000) shares of Common Stock with respect to awards of Restricted Stock, Performance Awards, Dividend Equivalents, Restricted Stock Units, or Stock Payments granted under
the Plan; provided, however, that in connection with an individual’s initial service as an Employee, such limit will be Six Hundred Thousand (600,000) shares of Common Stock with respect to awards of Restricted Stock,
Performance Awards, Dividend Equivalents, Restricted Stock Units or Stock Payments granted under the Plan. The maximum aggregate amount of cash that may be paid to an individual in cash during any fiscal year of the Company with respect to awards
designated to be paid in cash shall be $5,000,000. 
 1.3 Board. “Board” shall mean the Board of Directors of the Company.

 1.4 Change in Control. “Change in Control” shall mean a change in ownership or control of the Company effected through
either of the following transactions: 
 (a) any person or related group of persons (other than the Company or a person
that directly or indirectly controls, is controlled by, or is under common control with, the Company) directly or indirectly acquires beneficial ownership (within the meaning of Rule 13d-3 under the
Exchange Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities pursuant to a tender or exchange offer made directly to the Company’s stockholders which
the Board does not recommend such stockholders to accept; or 
 (b) there is a change in the composition of the Board
over a period of thirty-six (36) consecutive months (or less) such that a majority of the Board members (rounded up to the nearest whole number) ceases, by reason of one or more proxy contests for the
election of Board members, to be comprised of individuals who either (i) have been Board members continuously since the beginning of such period or (ii) have been elected or nominated for election as Board members during such period by at
least a majority of the Board members described in clause (i) who were still in office at the time such election or nomination was approved by the Board. 

1.5 Code. “Code” shall mean the U.S. Internal Revenue Code of 1986, as amended. 

1.6 Committee. “Committee” shall mean the Compensation Committee of the Board, or another committee of the Board, appointed as
provided in Section 9.1. 
 1.7 Common Stock. “Common Stock” shall mean the common stock of the Company, par value
$0.0001 per share, and any equity security of the Company issued or authorized to be issued in the future, but excluding any preferred stock and any warrants, options or other rights to purchase Common Stock. Debt securities of the Company
convertible into Common Stock shall be deemed equity securities of the Company. 

  
 1 

 1.8 Company. “Company” shall mean Viasat, Inc., a Delaware corporation.

 1.9 Corporate Transaction. “Corporate Transaction” shall mean any of the following stockholder-approved transactions to
which the Company is a party: 
 (a) a merger or consolidation in which the Company is not the surviving entity, except for
a transaction the principal purpose of which is to change the State in which the Company is incorporated, form a holding company or effect a similar reorganization as to form whereupon this Plan and all Options are assumed by the successor entity;

 (b) the sale, transfer, exchange or other disposition of all or substantially all of the assets of the Company, in
complete liquidation or dissolution of the Company in a transaction not covered by the exceptions to clause (a) above; or 
 (c) any reverse merger in which the Company is the surviving entity but in which securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities are
transferred or issued to a person or persons different from those who held such securities immediately prior to such merger. 
 1.10
Director. “Director” shall mean a member of the Board. 
 1.11 Dividend Equivalent. “Dividend Equivalent”
shall mean a right to receive the equivalent value (in cash or Common Stock) of dividends paid on Common Stock, awarded under Article VII of this Plan. 
 1.12 Employee. “Employee” shall mean any officer or other employee (as defined in accordance with Section 3401(c) of the Code) of the Company, or of any corporation which is a Subsidiary. 

1.13 Equity Restructuring. “Equity Restructuring” shall mean a nonreciprocal transaction between the Company and its stockholders,
such as a stock dividend, stock split, spin-off, rights offering or recapitalization through a large, nonrecurring cash dividend, that affects the number or kind of shares of Common Stock (or other securities
of the Company) or the share price of Common Stock (or other securities) and causes a change in the per share value of the Common Stock underlying outstanding awards. 

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

1.15 Fair Market Value. “Fair Market Value” of a share of Common Stock as of a given date shall be (a) the closing price of a
share of Common Stock on the principal exchange on which shares of Common Stock are then trading or quoted, if any (or as reported on any composite index which includes such principal exchange), on such date, or if shares were not traded on such
date, then on the last preceding date on which a trade occurs; or (b) if Common Stock is not traded on an exchange but is quoted on an automated quotation system, the closing price of a share of Common Stock on such date as reported by such
quotation system, or if there is no closing price for a share of Common Stock on such date, then the closing sales price for a share of Common Stock on the last preceding date for which such a quotation exists; or (c) if Common Stock is not
publicly traded on an exchange and not quoted on an automated quotation system, the Fair Market Value of a share of Common Stock as established by the Committee (or the Board, in the case of awards granted to Independent Directors) acting in good
faith. 
 1.16 Full Value Award. “Full Value Award” shall mean any award other than an Option or a Stock Appreciation
Right with a per share purchase price lower than one hundred percent (100%) of Fair Market Value on the date of grant and that is settled by the issuance of shares of Common Stock. 

1.17 Grantee. “Grantee” shall mean an Employee, Director or consultant granted a Performance Award, Dividend Equivalent, Stock
Payment or Stock Appreciation Right, or an award of Restricted Stock Units, under this Plan. 
 1.18 Incentive Stock Option.
“Incentive Stock Option” shall mean an option which conforms to the applicable provisions of Section 422 of the Code and which is designated as an Incentive Stock Option by the Committee. 

1.19 Independent Director. “Independent Director” shall mean a member of the Board who is not an Employee of the Company.

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

1.21 Option. “Option” shall mean a stock option granted under Article III of this Plan. An Option granted under this Plan
shall, as determined by the Committee, be either a Non-Qualified Stock Option or an Incentive Stock Option; provided, however, that Options granted to Independent Directors and consultants shall
be Non-Qualified Stock Options. 
 1.22 Optionee. “Optionee” shall mean an
Employee, Director or consultant granted an Option under this Plan. 
 1.23 Performance Award. “Performance Award” shall
mean a cash bonus, stock bonus or other performance or incentive award that is paid in cash, Common Stock or a combination of both, awarded under Article VII of this Plan. 

1.24 “Permanent Disability” means that an individual is unable to perform his or her duties by reason of any medically determined
physical or mental impairment which can be expected to result in death or which has lasted or is expected to last for a continuous period of at least 12 months, as reasonably determined by the Committee, in its discretion. 

  
 2 

 1.25 Plan. “Plan” shall mean The 1996 Equity Participation Plan of Viasat, Inc.,
as amended and restated. 
 1.26 QDRO. “QDRO” shall mean a qualified domestic relations order as defined by the Code or
Title I of the Employee Retirement Income Security Act of 1974, as amended, or the rules thereunder. 
 1.27 Restricted Stock.
“Restricted Stock” shall mean Common Stock awarded under Article VI of this Plan. 
 1.28 Restricted Stock Unit.
“Restricted Stock Unit” shall mean a right to receive Common Stock awarded under Article VII of this Plan. 
 1.29
Restricted Stockholder. “Restricted Stockholder” shall mean an Employee, Director or consultant granted an award of Restricted Stock under Article VI of this Plan. 

1.30 Rule 16b-3.
“Rule 16b-3” shall mean that certain Rule 16b-3 under the Exchange Act, as such Rule may be amended from time to time. 

1.31 Stock Appreciation Right. “Stock Appreciation Right” shall mean a stock appreciation right granted under Article VIII of
this Plan. 
 1.32 Stock Payment. “Stock Payment” shall mean (a) a payment in the form of shares of Common Stock, or
(b) an option or other right to purchase shares of Common Stock, as part of a deferred compensation arrangement, made in lieu of all or any portion of the compensation, including without limitation, salary, bonuses and commissions, that would
otherwise become payable to a key Employee, Director or consultant in cash, awarded under Article VII of this Plan. 
 1.33
Subsidiary. “Subsidiary” shall mean any corporation in an unbroken chain of corporations beginning with the Company if each of the corporations other than the last corporation in the unbroken chain then owns stock possessing
fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 
 1.34 Substitute Awards. “Substitute Awards” shall mean awards granted or shares of Common Stock issued by the Company in assumption of, or in substitution or exchange for, awards previously granted, or the right or
obligation to make future awards, in each case by a company acquired by the Company or any of its Subsidiaries or with which the Company or any of its Subsidiaries combines. 

1.35 Termination of Consultancy. “Termination of Consultancy” shall mean the time when the engagement of an Optionee, Grantee or
Restricted Stockholder as a consultant to the Company or a Subsidiary is terminated for any reason, with or without cause, including, but not by way of limitation, by resignation, discharge, death or retirement; but excluding terminations where
there is a simultaneous commencement of employment with the Company or any Subsidiary. The Committee, in its absolute discretion, shall determine the effect of all matters and questions relating to Termination of Consultancy, including, but not by
way of limitation, the question of whether a Termination of Consultancy resulted from a discharge for good cause, and all questions of whether particular leaves of absence constitute Terminations of Consultancy. Notwithstanding any other provision
of this Plan, the Company or any Subsidiary has an absolute and unrestricted right to terminate a consultant’s service at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in writing.

 1.35 Termination of Directorship. “Termination of Directorship” shall mean the time when an Optionee or Grantee who is
an Independent Director ceases to be a Director for any reason, including, but not by way of limitation, a termination by resignation, failure to be elected, death or retirement. The Board, in its sole and absolute discretion, shall determine the
effect of all matters and questions relating to Termination of Directorship with respect to Independent Directors. 
 1.36 Termination
of Employment. “Termination of Employment” shall mean the time when the employee-employer relationship between an Optionee, Grantee or Restricted Stockholder and the Company or any Subsidiary is terminated for any reason, with or
without cause, including, but not by way of limitation, a termination by resignation, discharge, death, disability or retirement; but excluding (i) terminations where there is a simultaneous reemployment or continuing employment of an Optionee,
Grantee or Restricted Stockholder by the Company or any Subsidiary, (ii) at the discretion of the Committee, terminations which result in a temporary severance of the employee-employer relationship, and (iii) terminations which are
followed by the simultaneous establishment of a consulting relationship by the Company or a Subsidiary with the former employee. The Committee, in its absolute discretion, shall determine the effect of all matters and questions relating to
Termination of Employment, including, but not by way of limitation, the question of whether a Termination of Employment resulted from a discharge for good cause, and all questions of whether particular leaves of absence constitute Terminations of
Employment. Notwithstanding any other provision of this Plan, the Company or any Subsidiary has an absolute and unrestricted right to terminate an Employee’s employment at any time for any reason whatsoever, with or without cause, except to the
extent expressly provided otherwise in writing. 

  
 3 

 ARTICLE II. SHARES SUBJECT TO PLAN 

2.1 Shares Subject to Plan. 
 (a) The shares of stock subject to Options, awards of Restricted Stock, Performance Awards, Dividend Equivalents, awards of Restricted Stock Units, Stock Payments or Stock Appreciation Rights shall be Common Stock, initially shares
of the Company’s Common Stock, par value $0.0001 per share. Subject to Section 2.3 below, the aggregate number of such shares which may be issued upon exercise of such options or rights or upon any such awards under the Plan shall not
exceed the sum of (i) 44,471,000 shares (consisting of 41,315,000 shares available for issuance under the Plan prior to the Restatement Effective Date, plus 3,156,000 shares added to the share reserve under the Plan as of the Restatement Effective
Date), plus (ii) any shares subject to a RigNet Share Reserve Award granted under the Plan on or after the RigNet Closing but prior to June 8, 2022 pursuant to Section 2.3 that are recycled back into the Plan pursuant to
Section 2.2 (together, the “Overall Share Limit”). The shares of Common Stock issuable upon exercise of such options or rights or upon any such awards may be either previously authorized but unissued shares or treasury shares.
Notwithstanding anything to the contrary herein, no more than 44,471,000 shares of Common Stock may be issued pursuant to the exercise of Incentive Stock Options. 

(b) Any shares subject to Options or Stock Appreciation Rights shall be counted against the Overall Share Limit as one
(1) share for every share subject thereto. Any shares subject to Full Value Awards will be counted against the Overall Share Limit as two (2) shares for every one share subject thereto. To the extent that a share that was subject to a Full
Value Award is recycled back into the Plan under Section 2.2, the Plan will be credited with a number of shares corresponding to the reduction in the share reserve previously made with respect to such Full Value Award in accordance with this
Section 2.1(b) (or, in the case of a RigNet Share Reserve Award that was a Full Value Award, two (2) shares for each share subject to such recycled award). To the extent that a share that was subject to a RigNet Share Reserve Award that
was not a Full Value Award is recycled back into the Plan under Section 2.2, the Plan will be credited with one (1) share for every share subject thereto. 

(c) The maximum number of shares which may be subject to awards granted under the Plan to any individual in any fiscal year, and the
maximum aggregate amount of cash that may be paid in cash during any fiscal year with respect to awards designated to be paid in cash, shall not exceed the applicable Award Limit. 

2.2 Add-Back of Shares. If any award under this Plan (including any RigNet Share Reserve Award)
expires or is canceled without having been fully exercised or paid, or an award is settled in cash without the delivery of shares of Common Stock to the award holder, the number of shares subject to such award shall, to the extent of such
expiration, cancellation or cash settlement, again be available for future grants of awards and added back to the shares of Common Stock authorized for grant under Section 2.1(a) in an amount corresponding to the reduction in the share reserve
previously made in accordance with Section 2.1(b) above with respect to such award, subject to the limitations of Section 2.1 (or, in the case of a RigNet Share Reserve Award that was a Full Value Award, two (2) shares for each share
subject to such award). Furthermore, any shares subject to awards which are adjusted pursuant to Section 10.3 and become exercisable with respect to shares of stock of another corporation shall be considered canceled and may again be optioned,
granted or awarded hereunder, subject to the limitations of Section 2.1. Notwithstanding anything to the contrary contained herein, the following shares shall not be added back to the shares of Common Stock authorized for grant under
Section 2.1(a) and will not be available for future grants of awards: (i) shares of Common Stock tendered by an Optionee or withheld by the Company in payment of the exercise price of an Option; (ii) shares of Common Stock tendered by
an Optionee or Grantee or withheld by the Company to satisfy any tax withholding obligation with respect to an Option or a Stock Appreciation Right; (iii) shares of Common Stock subject to a Stock Appreciation Right not issued in connection
with the stock settlement of the Stock Appreciation Right on exercise thereof; and (iv) shares of Common Stock purchased on the open market with the cash proceeds from the exercise of Options. Shares tendered by a Grantee or a Restricted
Stockholder or withheld by the Company to satisfy any tax withholding obligation with respect to a Full Value Award (including any RigNet Share Reserve Award that is a Full Value Award) shall be available for future grants of awards under the Plan
in an amount corresponding to the reduction in the share reserve previously made in accordance with Section 2.1(b) above (or, in the case of a RigNet Share Reserve Award that was a Full Value Award, two (2) shares for each share subject to
such award); provided, however, that, notwithstanding the foregoing, in the event shares of Common Stock subject to any such Full Value Award are tendered by a Grantee or a Restricted Stockholder or withheld by the Company to satisfy any tax
withholding obligation at a tax withholding rate in excess of the employer’s minimum statutory withholding rates for federal, state, local and foreign income tax and payroll tax purposes, such shares of Common Stock tendered or withheld to
satisfy the tax withholding at a rate in excess of the employer’s minimum statutory withholding obligation shall not be available for future grants of awards under the Plan and shall continue to be counted against the share reserve in an amount
corresponding to the reduction in the share reserve previously made in accordance with Section 2.1(b) above. Any shares of Common Stock forfeited by a Grantee or a Restricted Stockholder or repurchased by the Company under Section 6.6 or
Article VII will again be available for awards in an amount corresponding to the reduction in the share reserve previously made in accordance with Section 2.1(b) above (or, in the case of a RigNet Share Reserve Award that was a Full Value
Award, two (2) shares for each share subject to such award). The payment of Dividend Equivalents in cash in 

  
 4 

 
conjunction with any outstanding awards shall not be counted against the shares available for issuance under the Plan. Notwithstanding the provisions of this Section 2.2, no shares of Common
Stock may again be optioned, granted or awarded if such action would cause an Incentive Stock Option to fail to qualify as an incentive stock option under Section 422 of the Code. 

2.3 Substitute Awards. In connection with an entity’s merger or consolidation with the Company or any Subsidiary or the Company’s
acquisition, or any Subsidiary’s acquisition, of an entity’s property or stock, the Committee may grant awards in substitution for any options or other stock or stock-based awards granted before such merger or consolidation by such entity
or its affiliate. Substitute Awards may be granted on such terms as the Committee deems appropriate, notwithstanding limitations on awards in the Plan. Substitute Awards will not count against the Overall Share Limit (nor shall shares of Common
Stock subject to a Substitute Award be added to the Overall Share Limit as provided above), except that shares of Common Stock acquired by exercise of substitute Incentive Stock Options will count against the maximum number of shares of Common Stock
that may be issued pursuant to the exercise of Incentive Stock Options under the Plan. Additionally, in the event that a company acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines has shares available
under a pre-existing plan approved by stockholders and not adopted in contemplation of such acquisition or combination, the shares available for grant pursuant to the terms of such pre-existing plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in such acquisition or combination to determine the
consideration payable to the holders of common stock of the entities party to such acquisition or combination) may be used for awards under the Plan and shall not reduce the shares of Common Stock authorized for grant under the Plan (and shares of
Common Stock subject to such awards shall not be added to the shares of Common Stock available for awards under the Plan as provided above); provided that awards using such available shares shall not be made after the date awards or grants could
have been made under the terms of the pre-existing plan, absent the acquisition or combination, and shall only be made to individuals who were not Employees, consultants or directors of the Company
or any Subsidiary immediately prior to such acquisition or combination and to the extent that grants of awards using such available shares are permitted without stockholder approval under the rules of the principal securities exchange on which the
Common Stock is then listed. 
 In furtherance of the foregoing, a total of 242,900 shares were assumed by the Company pursuant to this
Section 2.3 under the RigNet, Inc. Omnibus Incentive Plan (as adopted May 8, 2019) (the “RigNet Shares,” and such plan, the “RigNet Plan”) in connection with the closing of the Company’s acquisition of RigNet, Inc.
(the “RigNet Closing”) (after appropriate adjustment of the number of shares to reflect the transaction). As of June 8, 2022, awards with respect to a total of 88,374 shares that were granted out of the RigNet Shares under the Plan in
accordance with this Section 2.3 on or after the RigNet Closing but prior to June 8, 2022 (the “RigNet Share Reserve Awards”) remained outstanding under the Plan. The RigNet Share Reserve Awards did not reduce the shares of
Common Stock authorized for grant under the Plan and were not granted (i) to individuals who were employed by or providing services to the Company or any of its Subsidiaries immediately prior to the closing of the Company’s acquisition of
RigNet, Inc., (ii) following the tenth (10th) anniversary of the Effective Date (as defined in the RigNet Plan) of the RigNet Plan, or (iii) in any other manner that would violate the exception under Nasdaq Stock Market Rule 5635(c)(3) relied
upon by the Company in connection with the assumption of the RigNet Shares and the reservation of such RigNet Shares for issuance under this Plan. Shares subject to RigNet Share Reserve Awards (whether or not subject to Full Value Awards) were
counted against the total number of RigNet Shares issuable pursuant to awards under the Plan pursuant to this Section 2.3 as one share for every share subject thereto. Effective June 8, 2022, no additional RigNet Share Reserve Awards will
be granted pursuant to this Section 2.3, provided this Plan becomes effective on the Restatement Effective Date. 
 ARTICLE III.
GRANTING OF OPTIONS 
 3.1 Eligibility. Any Employee or consultant selected by the Committee pursuant to Section 3.4(a)(i)
shall be eligible to be granted an Option. Each Independent Director of the Company shall be eligible to be granted Options at the times and in the manner set forth in Section 3.4(d). 

3.2 Disqualification for Stock Ownership. No person may be granted an Incentive Stock Option under this Plan if such person, at the time the
Incentive Stock Option is granted, owns stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any then-existing Subsidiary or parent corporation (within the meaning of
Section 422 of the Code) unless such Incentive Stock Option conforms to the applicable provisions of Section 422 of the Code. 

3.3 Qualification of Incentive Stock Options. No Incentive Stock Option shall be granted to any person who is not an Employee. 

3.4 Granting of Options. 
 (a) The Committee shall from time to time, in its absolute discretion, and subject to applicable limitations of this Plan: 
 (i) Determine which Employees are key Employees and select from among the key Employees or consultants (including Employees or consultants who have previously received Options or other awards under this Plan) such of them as in its
opinion should be granted Options; 

  
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 (ii) Subject to the Award Limit, determine the number of shares to be subject to
such Options granted to the selected key Employees or consultants; 
 (iii) Subject to Section 3.3, determine whether
such Options are to be Incentive Stock Options or Non-Qualified Stock Options; and 
 (iv) Determine the terms and conditions of such Options, consistent with this Plan. 
 (b) Upon the
selection of a key Employee or consultant to be granted an Option, the Committee shall instruct the Secretary of the Company to issue the Option and may impose such conditions on the grant of the Option as it deems appropriate. Without limiting the
generality of the preceding sentence, the Committee may, in its discretion and on such terms as it deems appropriate, require as a condition on the grant of an Option to an Employee or consultant that the Employee or consultant surrender for
cancellation some or all of the unexercised Options, awards of Restricted Stock or Restricted Stock Units, Performance Awards, Stock Appreciation Rights, Dividend Equivalents or Stock Payments or other rights which have been previously granted to
him under this Plan or otherwise. An Option, the grant of which is conditioned upon such surrender, may have an option price lower (or higher) than the exercise price of such surrendered Option or other award, may cover the same (or a lesser or
greater) number of shares as such surrendered Option or other award, may contain such other terms as the Committee deems appropriate, and shall be exercisable in accordance with its terms, without regard to the number of shares, price, exercise
period or any other term or condition of such surrendered Option or other award; provided, however, except as permitted under Section 10.3 of the Plan, no Option or Stock Appreciation Right shall, without stockholder approval, be
(i) repriced, exchanged for an Option or Stock Appreciation Right with a lower price or otherwise modified where the effect would be to reduce the exercise price of the Option or Stock Appreciation Right; or (ii) exchanged for cash or an
alternate award under the Plan. 
 (c) Any Incentive Stock Option granted under this Plan may be modified by the Committee
to disqualify such option from treatment as an “incentive stock option” under Section 422 of the Code. 

(d) During the term of the Plan, each person who is initially elected or appointed to the Board and who is an Independent Director
at the time of such initial election or appointment shall automatically be granted an Option to purchase Nine Thousand (9,000) shares of Common Stock (subject to adjustment as provided in Section 10.3) on the date of such initial election
or appointment, which Option will vest in three equal installments on each of the first three anniversaries of the date of grant, subject to the Independent Director’s continued service as a Director on each such vesting date. In addition,
during the term of the Plan, each Independent Director shall automatically be granted an Option to purchase Five Thousand (5,000) shares of Common Stock (subject to adjustment as provided in Section 10.3) on the date of each annual meeting
of stockholders after his or her initial election or appointment to the Board at which directors are elected to the Board, which Option will vest on the first anniversary of the date of grant, subject to the Independent Director’s continued
service as a Director on such vesting date; provided, however, that a person who is initially elected to the Board at an annual meeting of stockholders and who is an Independent Director at the time of such initial election shall
receive only an initial Option grant on the date of such election pursuant to the preceding sentence and shall not receive an Option grant pursuant to this sentence until the date of the next annual meeting of stockholders following such initial
election. In addition, all Options granted to Independent Directors will vest in full upon the occurrence of a Change in Control or a Corporate Transaction or an Independent Director’s Termination of Directorship by reason of the Independent
Director’s death or Permanent Disability. Members of the Board who are employees of the Company who subsequently retire from the Company and remain on the Board will not receive an initial Option grant pursuant to the first sentence of this
Section 3.4(d), but to the extent that they are otherwise eligible, will receive, after retirement from employment with the Company, Options as described in the second sentence of this Section 3.4(d). 

ARTICLE IV. TERMS OF OPTIONS 
 4.1 Option Agreement. Each Option shall be evidenced by a written Stock Option Agreement, which shall be executed by the Optionee and an authorized officer of the Company and which shall contain such terms and conditions as
the Committee (or the Board, in the case of Options granted to Independent Directors) shall determine, consistent with this Plan. Stock Option Agreements evidencing Incentive Stock Options shall contain such terms and conditions as may be necessary
to meet the applicable provisions of Section 422 of the Code. 
 4.2 Option Price. The price per share of the shares subject to
each Option shall be set by the Committee; provided, however, that such price shall not be less than one hundred percent (100%) of the Fair Market Value of a share of Common Stock on the date the Option is granted and in the case of Incentive
Stock Options granted to an individual then owning (within the meaning of Section 424(d) of the Code) more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Subsidiary or parent corporation
thereof (within the meaning of Section 422 of the Code) such price shall not be less than one hundred ten percent (110%) of the Fair Market Value of a share of Common Stock on the date the Option is granted. 

  
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 4.3 Option Term. The term of an Option shall be set by the Committee in its discretion;
provided, however, that no Option shall have a term longer than six (6) years from the date the Option is granted and in the case of Incentive Stock Options granted to an individual then owning (within the meaning of Section 424(d)
of the Code) more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Subsidiary or parent corporation thereof (within the meaning of Section 422 of the Code) the term may not exceed five
(5) years from the date the Option is granted. Except as limited by requirements of Section 422 of the Code and regulations and rulings thereunder applicable to Incentive Stock Options, the Committee may extend the term of any outstanding
Option in connection with any Termination of Employment or Termination of Consultancy of the Optionee, or amend any other term or condition of such Option relating to such a termination. 

4.4 Option Vesting. 
 (a) The period during which the right to exercise an Option in whole or in part vests in the Optionee shall be set by the Committee and the Committee may determine that an Option may not be exercised in whole or in part for a
specified period after it is granted. At any time after grant of an Option, the Committee may, in its sole and absolute discretion and subject to whatever terms and conditions it selects, accelerate the period during which an Option (except an
Option granted to an Independent Director) vests. 
 (b) No portion of an Option which is unexercisable at Termination of
Employment, Termination of Directorship or Termination of Consultancy, as applicable, shall thereafter become exercisable, except as may be otherwise provided by the Committee (or the Board, in the case of Options granted to Independent Directors)
in the case of Options granted to Employees or consultants either in the Stock Option Agreement or by action of the Committee (or the Board, in the case of Options granted to Independent Directors) following the grant of the Option. 

(c) To the extent that the aggregate Fair Market Value of stock with respect to which “incentive stock options” (within
the meaning of Section 422 of the Code, but without regard to Section 422(d) of the Code) are exercisable for the first time by an Optionee during any calendar year (under the Plan and all other incentive stock option plans of the Company
and any Subsidiary) exceeds $100,000, such Options shall be treated as Non-Qualified Stock Options to the extent required by Section 422 of the Code. The rule set forth in the preceding sentence shall be
applied by taking Options into account in the order in which they were granted. For purposes of this Section 4.4(c), the Fair Market Value of stock shall be determined as of the time the Option with respect to such stock is granted. 

4.5 Consideration. In consideration of the granting of an Option, the Committee (or the Board, in the case of Options granted to Independent
Directors) may require the Optionee to agree, in the written Stock Option Agreement, to remain in the employ of (or to consult for or to serve as an Independent Director of, as applicable) the Company or any Subsidiary for a period of at least one
year (or such shorter period as may be fixed in the Stock Option Agreement or by action of the Committee following grant of the Option) after the Option is granted (or, in the case of an Independent Director, until the next annual meeting of
stockholders of the Company). Nothing in this Plan or in any Stock Option Agreement hereunder shall confer upon any Optionee any right to continue in the employ of, or as a consultant for, the Company or any Subsidiary, or as a director of the
Company, or shall interfere with or restrict in any way the rights of the Company and any Subsidiary, which are hereby expressly reserved, to discharge any Optionee at any time for any reason whatsoever, with or without good cause. 

ARTICLE V. EXERCISE OF OPTIONS 
 5.1 Partial Exercise. An exercisable Option may be exercised in whole or in part. However, an Option shall not be exercisable with respect to fractional shares and the Committee (or the Board, in the case of Options granted
to Independent Directors) may require that, by the terms of the Option, a partial exercise be with respect to a minimum number of shares. 

5.2 Manner of Exercise. All or a portion of an exercisable Option shall be deemed exercised upon delivery of all of the following to
the Secretary of the Company or his office: 
 (a) A written notice complying with the applicable rules established by the
Committee (or the Board, in the case of Options granted to Independent Directors) stating that the Option, or a portion thereof, is exercised. The notice shall be signed by the Optionee or other person then entitled to exercise the Option or such
portion; 
 (b) Such representations and documents as the Committee (or the Board, in the case of Options granted to
Independent Directors), in its absolute discretion, deems necessary or advisable to effect compliance with all applicable provisions of the Securities Act of 1933, as amended, and any other federal or state securities laws or regulations. The
Committee or Board may, in its absolute discretion, also take whatever additional actions it deems appropriate to effect such compliance including, without limitation, placing legends on share certificates and book entries and issuing stop-transfer
notices to agents and registrars; 
 (c) In the event that the Option shall be exercised pursuant to Section 10.1 by
any person or persons other than the Optionee, appropriate proof of the right of such person or persons to exercise the Option; and 

  
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 (d) Full cash payment to the Secretary of the Company for the shares with respect
to which the Option, or portion thereof, is exercised. However, the Committee (or the Board, in the case of Options granted to Independent Directors), may in its discretion, (i) allow a delay in payment up to thirty (30) days from the date
the Option, or portion thereof, is exercised; (ii) allow payment, in whole or in part, through the delivery of shares of Common Stock owned by the Optionee, duly endorsed for transfer to the Company with a Fair Market Value on the date of
delivery equal to the aggregate exercise price of the Option or exercised portion thereof; (iii) allow payment, in whole or in part, through the surrender of shares of Common Stock then issuable upon exercise of the Option having a Fair Market
Value on the date of Option exercise equal to the aggregate exercise price of the Option or exercised portion thereof; (iv) allow payment, in whole or in part, through the delivery of property of any kind which constitutes good and valuable
consideration; (v) allow payment, in whole or in part, through the delivery of a full recourse promissory note bearing interest (at no less than such rate as shall then preclude the imputation of interest under the Code) and payable upon such
terms as may be prescribed by the Committee or the Board; (vi) allow payment, in whole or in part, through the delivery of a notice that the Optionee has placed a market sell order with a broker with respect to shares of Common Stock then
issuable upon exercise of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the Option exercise price; or (vii) allow payment through any combination
of the consideration provided in the foregoing subparagraphs (ii), (iii), (iv), (v) and (vi). In the case of a promissory note, the Committee (or the Board, in the case of Options granted to Independent Directors) may also prescribe the
form of such note and the security to be given for such note. The Option may not be exercised, however, by delivery of a promissory note or by a loan or other extension of credit from the Company when or where such loan or other extension of credit
is prohibited by law. 
 5.3 Conditions to Issuance of Shares. The Company shall not be required to issue or deliver any
certificate or certificates, or make any book entries, for shares of stock purchased upon the exercise of any Option or portion thereof prior to fulfillment of all of the following conditions: 

(a) The admission of such shares to listing on all stock exchanges on which such class of stock is then listed; 

(b) The completion of any registration or other qualification of such shares under any state or federal law, or under the rulings or
regulations of the Securities and Exchange Commission or any other governmental regulatory body which the Committee or Board shall, in its absolute discretion, deem necessary or advisable; 

(c) The obtaining of any approval or other clearance from any state or federal governmental agency which the Committee (or Board, in
the case of Options granted to Independent Directors) shall, in its absolute discretion, determine to be necessary or advisable; 
 (d) The lapse of such reasonable period of time following the exercise of the Option as the Committee (or Board, in the case of Options granted to Independent Directors) may establish from time to time for reasons of administrative
convenience; and 
 (e) The receipt by the Company of full payment for such shares, including payment of any
applicable withholding tax. 
 Notwithstanding any other provision of the Plan, unless otherwise determined by the Committee (or the Board,
in the case of Options granted to Independent Directors) or required by any applicable law, rule or regulation, the Company shall not deliver to any Optionee certificates evidencing shares of Common Stock issued in connection with any Option and
instead such shares of Common Stock shall be recorded in the books of the Company (or, as applicable, its transfer agent or stock plan administrator). 
 5.4 Rights as Stockholders. The holders of Options shall not be, nor have any of the rights or privileges of, stockholders of the Company in respect of any shares purchasable upon the exercise of any part of an Option unless
and until certificates representing such shares have been issued by the Company to such holders or book entries evidencing such shares have been made by the Company. 

5.5 Ownership and Transfer Restrictions. The Committee (or Board, in the case of Options granted to Independent Directors), in its absolute
discretion, may impose such restrictions on the ownership and transferability of the shares purchasable upon the exercise of an Option as it deems appropriate. Any such restriction shall be set forth in the respective Stock Option Agreement and may
be referred to on the certificates or book entries evidencing such shares. The Committee may require an Employee to give the Company prompt notice of any disposition of shares of Common Stock acquired by exercise of an Incentive Stock Option within
(i) two years from the date of granting such Option to such Employee or (ii) one year after the transfer of such shares to such Employee. The Committee may direct that the certificates or book entries evidencing shares acquired by exercise
of an Option refer to such requirement to give prompt notice of disposition. 
 5.6 Limitations on Exercise of Options Granted to
Independent Directors. No Option granted to an Independent Director may be exercised to any extent by anyone after the first to occur of the following events: 

(a) The expiration of twelve (12) months from the date of the Optionee’s death; 

  
 8 

 (b) The expiration of twelve (12) months from the date of the
Optionee’s Termination of Directorship, Termination of Consultancy or Termination of Employment by reason of his permanent and total disability (within the meaning of Section 22(e)(3) of the Code); 

(c) The expiration of three (3) months from the last to occur of the Optionee’s Termination of Directorship, Termination
of Consultancy or Termination of Employment, unless the Optionee dies within said three-month period; or 
 (d) The
expiration of six (6) years from the date the Option was granted. 
 ARTICLE VI. AWARD OF RESTRICTED STOCK 

6.1 Award of Restricted Stock. 
 (a) The Committee (or the Board, in the case of Restricted Stock awarded to Independent Directors) may from time to time, in its absolute discretion: 

(i) Select from among the key Employees, consultants or Independent Directors (including Employees, consultants or Independent
Directors who have previously received other awards under this Plan) such of them as in its opinion should be awarded Restricted Stock; and 

(ii) Determine the purchase price, if any, and other terms and conditions applicable to such Restricted Stock, consistent with this
Plan. 
 (b) The Committee (or the Board, in the case of Restricted Stock awarded to Independent Directors) shall establish
the purchase price, if any, and form of payment for Restricted Stock; provided, however, that such purchase price shall be no less than the par value of the Common Stock to be purchased, unless otherwise permitted by applicable state law. In
all cases, legal consideration shall be required for each issuance of Restricted Stock. 
 (c) Upon the selection of a key
Employee, consultant or Independent Director to be awarded Restricted Stock, the Committee (or the Board, in the case of Restricted Stock awarded to Independent Directors) shall instruct the Secretary of the Company to issue such Restricted Stock
and may impose such conditions on the issuance of such Restricted Stock as it deems appropriate. 
 6.2 Restricted Stock Agreement.
Restricted Stock shall be issued only pursuant to a written Restricted Stock Agreement, which shall be executed by the selected key Employee, consultant or Independent Director and an authorized officer of the Company and which shall contain such
terms and conditions as the Committee (or the Board, in the case of Restricted Stock granted to an Independent Director) shall determine, consistent with this Plan. The issuance of any shares of Restricted Stock shall be made subject to satisfaction
of all provisions of Section 5.3. 
 6.3 Consideration. As consideration for the issuance of Restricted Stock, in addition to
payment of any purchase price, the Restricted Stockholder shall agree, in the written Restricted Stock Agreement, to remain in the employ of, to consult for, or to remain as an Independent Director of, as applicable, the Company or any Subsidiary
for a period of at least one year after the Restricted Stock is issued (or such shorter period as may be fixed in the Restricted Stock Agreement or by action of the Committee (or the Board, in the case of Restricted Stock granted to an Independent
Director) following grant of the Restricted Stock or, in the case of an Independent Director, until the next annual meeting of stockholders of the Company). Nothing in this Plan or in any Restricted Stock Agreement hereunder shall confer on any
Restricted Stockholder any right to continue in the employ of, as a consultant for or as an Independent Director of the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and any Subsidiary, which are
hereby expressly reserved, to discharge any Restricted Stockholder at any time for any reason whatsoever, with or without good cause. 

6.4 Rights as Stockholders. Upon delivery of the shares of Restricted Stock to the escrow holder pursuant to Section 6.7, the Restricted
Stockholder shall have, unless otherwise provided by the Committee (or the Board, in the case of Restricted Stock granted to an Independent Director), all the rights of a stockholder with respect to said shares, subject to the restrictions in his
Restricted Stock Agreement, including, subject to Section 10.14 and the last sentence of this Section 6.4 below, the right to receive all dividends and other distributions paid or made with respect to the shares; provided, however,
that in the discretion of the Committee (or the Board, in the case of Restricted Stock granted to an Independent Director), any extraordinary distributions with respect to the Common Stock shall be subject to the restrictions set forth in
Section 6.5. Notwithstanding the foregoing, with respect to Restricted Stock that is subject to vesting, dividends which are paid prior to vesting shall only be paid out to the Restricted Stockholder to the extent that the vesting conditions
are subsequently satisfied and the share of Restricted Stock vests. 
 6.5 Restriction. All shares of Restricted Stock issued under
this Plan (including any shares received by holders thereof with respect to shares of Restricted Stock as a result of stock dividends, stock splits or any other form of recapitalization) shall, in the terms of each individual Restricted Stock
Agreement, be subject to such restrictions as the Committee (or the Board, in the case of Restricted Stock granted to an Independent Director) shall provide, which restrictions may include, without limitation,

  
 9 

 
restrictions concerning voting rights and transferability and vesting restrictions based on duration of employment with the Company, Company performance and individual performance; provided,
further, that by action taken after the Restricted Stock is issued, the Committee (or the Board, in the case of Restricted Stock granted to an Independent Director) may, on such terms and conditions as it may determine to be appropriate, remove
any or all of the restrictions imposed by the terms of the Restricted Stock Agreement. Notwithstanding the foregoing, except as permitted under Section 10.3 of the Plan but subject to Section 10.13, shares of Restricted Stock will vest no
more rapidly than ratably over a three (3) year period from the date of grant, unless the Committee (or the Board, in the case of Restricted Stock granted to an Independent Director) determines that the Restricted Stock award is to vest upon
the achievement of one or more performance goals, in which case the period for measuring performance will be at least twelve (12) months. Restricted Stock may not be sold or encumbered until all restrictions are terminated or expire.

 6.6 Repurchase or Forfeiture of Restricted Stock. The Committee (or the Board, in the case of Restricted Stock granted to an
Independent Director) shall provide in the terms of each individual Restricted Stock Agreement that the Company shall have the right to repurchase from the Restricted Stockholder the Restricted Stock then subject to restrictions under the Restricted
Stock Agreement immediately upon a Termination of Employment, Termination of Consultancy or Termination of Directorship between the Restricted Stockholder and the Company, at a cash price per share equal to the price paid by the Restricted
Stockholder for such Restricted Stock; provided, however, that provision may be made that no such right of repurchase shall exist in the event of a Termination of Employment, Termination of Consultancy or Termination of Directorship without
cause, or following a change in control of the Company or because of the Restricted Stockholder’s retirement, death or disability, or otherwise. Unless provided otherwise by the Committee (or the Board, in the case of Restricted Stock granted
to an Independent Director), if no cash consideration was paid by the Restricted Stockholder upon issuance, a Restricted Stockholder’s rights in unvested Restricted Stock shall lapse upon the last to occur of Termination of Employment,
Termination of Consultancy or Termination of Directorship with the Company. 
 6.7 Escrow. The Secretary of the Company or such
other escrow holder as the Committee (or the Board, in the case of Restricted Stock granted to an Independent Director) may appoint shall retain physical custody of each certificate representing Restricted Stock until all of the restrictions imposed
under the Restricted Stock Agreement with respect to the shares evidenced by such certificate expire or shall have been removed. 
 6.8
Legend. In order to enforce the restrictions imposed upon shares of Restricted Stock hereunder, the Committee (or the Board, in the case of Restricted Stock granted to an Independent Director) shall cause a legend or legends to be placed on
certificates or book entries representing all shares of Restricted Stock that are still subject to restrictions under Restricted Stock Agreements, which legend or legends shall make appropriate reference to the conditions imposed thereby.

 ARTICLE VII. PERFORMANCE AWARDS, DIVIDEND EQUIVALENTS, RESTRICTED STOCK UNITS, STOCK PAYMENTS 

7.1 Performance Awards. Any key Employee, consultant or Independent Director selected by the Committee (or the Board, in the case of an award
to an Independent Director) may be granted one or more Performance Awards. The Committee shall select the performance criteria (and any permissible adjustments) for each Performance Award for purposes of establishing the performance goal or
performance goals applicable to such Performance Award for the designated performance period. The performance criteria that may be used to establish such performance goals may include, but are not limited to, the following: (a) net earnings
(either before or after one or more of the following: (i) interest, (ii) taxes, (iii) depreciation and (iv) amortization), (b) gross or net sales or revenue, (c) net income (either before or after taxes),
(d) operating earnings or profit, (e) cash flow (including, but not limited to, operating cash flow and free cash flow), (f) return on assets, (g) return on capital, (h) return on stockholders’ equity, (i) return
on sales, (j) gross or net profit or operating margin, (k) costs, (l) funds from operations, (m) expenses, (n) working capital, (o) earnings per share, or (p) price per share of the Common Stock, any of which may
be measured either in absolute terms or as compared to any incremental increase or decrease or as compared to results of a peer group or to market performance indicators. The performance goals for a performance period may be established in writing
by the Committee (or the Board, in the case of an award to an Independent Director) based on one or more of the foregoing performance criteria, which goals may be expressed in terms of overall Company performance or the performance of a division,
business unit or an individual. In making such determinations, the Committee (or the Board, in the case of an award to an Independent Director) may consider (among such other factors as it deems relevant in light of the specific type of award) the
contributions, responsibilities and other compensation of the particular key Employee, consultant or Independent Director. 
 7.2
Dividend Equivalents. Any key Employee, consultant or Independent Director selected by the Committee (or the Board, in the case of an award to an Independent Director) may be granted Dividend Equivalents based on the dividends declared on
Common Stock, to be credited as of dividend payment dates, during the period between the date an Option, Stock Appreciation Right, Restricted Stock Unit or Performance Award is granted, and the date such Option, Stock Appreciation Right, Restricted
Stock Unit or Performance Award is exercised, vests or expires, as determined by the Committee (or the Board, in the case of an award to an Independent Director). Subject to Section 10.14, such Dividend Equivalents shall be

  
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converted to cash or additional shares of Common Stock by such formula and at such time and subject to such limitations as may be determined by the Committee (or the Board, in the case of an
award to an Independent Director). Notwithstanding the foregoing, no Dividend Equivalents shall be payable with respect to Options or Stock Appreciation Rights. 

7.3 Stock Payments. Any key Employee, consultant or Independent Director selected by the Committee (or the Board, in the case of an award to
an Independent Director) may receive Stock Payments in the manner determined from time to time by the Committee. The number of shares shall be determined by the Committee (or the Board, in the case of an award to an Independent Director) and may be
based upon the Fair Market Value, book value, net profits or other measure of the value of Common Stock or other specific performance criteria determined appropriate by the Committee (or the Board, in the case of an award to an Independent
Director), determined on the date such Stock Payment is made or on any date thereafter. 
 7.4 Restricted Stock Units. 

(a) Any key Employee, consultant or Independent Director selected by the Committee (or the Board, in the case of an award to an
Independent Director) may be granted an award of Restricted Stock Units in the manner determined from time to time by the Committee. The number of shares subject to a Restricted Stock Unit award shall be determined by the Committee (or the Board, in
the case of an award to an Independent Director). Common Stock underlying a Restricted Stock Unit award will not be issued until the Restricted Stock Unit award has vested. Unless otherwise provided by the Committee (or the Board, in the case of an
award to an Independent Director), a Grantee of Restricted Stock Units shall have no rights as a Company stockholder with respect to the shares of Common Stock underlying such Restricted Stock Units until such time as the award has vested and such
Common Stock underlying the award has been issued. 
 (b) During the term of the Plan thereafter, each person who is
initially elected or appointed to the Board and who is an Independent Director at the time of such initial election or appointment shall automatically be granted an award of Three Thousand (3,000) Restricted Stock Units (subject to adjustment
as provided in Section 10.3) on the date of such initial election or appointment, which Restricted Stock Unit award will vest in three equal installments on each of the first three anniversaries of the date of grant, subject to the Independent
Director’s continued service as a Director on each such vesting date. In addition, during the term of the Plan thereafter, each Independent Director shall automatically be granted an award of One Thousand Six Hundred (1,600) Restricted
Stock Units (subject to adjustment as provided in Section 10.3) on the date of each annual meeting of stockholders after his or her initial election or appointment to the Board at which directors are elected to the Board, which Restricted Stock
Unit award will vest on the first anniversary of the date of grant, subject to the Independent Director’s continued service as a Director on such vesting date; provided, however, that a person who is initially elected to the Board
at an annual meeting of stockholders and who is an Independent Director at the time of such initial election shall receive only an initial Restricted Stock Unit award on the date of such election pursuant to the preceding sentence and shall not
receive a Restricted Stock Unit award pursuant to this sentence until the date of the next annual meeting of stockholders following such initial election. In addition, all Restricted Stock Unit awards granted to Independent Directors will vest in
full upon the occurrence of a Change in Control or a Corporate Transaction or an Independent Director’s Termination of Directorship by reason of the Independent Director’s death or Permanent Disability. Members of the Board who are
employees of the Company who subsequently retire from the Company and remain on the Board will not receive an initial Restricted Stock Unit award pursuant to the first sentence of this Section 7.4(b), but to the extent that they are otherwise
eligible, will receive, after retirement from employment with the Company, Restricted Stock Unit awards as described in the second sentence of this Section 7.4(b). 

7.5 Performance Award Agreement, Dividend Equivalent Agreement, Restricted Stock Unit Agreement, Stock Payment Agreement. Each Performance
Award, Dividend Equivalent, award of Restricted Stock Units and/or Stock Payment shall be evidenced by a written agreement, which shall be executed by the Grantee and an authorized Officer of the Company and which shall contain such terms and
conditions as the Committee (or the Board, in the case of an award to an Independent Director) shall determine, consistent with this Plan. 
 7.6 Term. The term of a Performance Award, Dividend Equivalent, award of Restricted Stock Unit and/or Stock Payment shall be set by the Committee (or the Board, in the case of an award to an Independent Director) in its
discretion. 
 7.7 Exercise Upon Termination of Employment. A Performance Award, Dividend Equivalent, award of Restricted Stock Unit
and/or Stock Payment is exercisable or payable only while the Grantee is an Employee, consultant or Independent Director; provided that the Committee may (or the Board, in the case of an award to an Independent Director) determine that the
Performance Award, Dividend Equivalent, award of Restricted Stock Unit and/or Stock Payment may be exercised or paid subsequent to Termination of Employment, Termination of Consultancy or Termination of Directorship without cause, or following a
change in control of the Company, or because of the Grantee’s retirement, death or disability, or otherwise. 
 7.8 Payment on
Exercise. Payment of the amount determined under Section 7.1 or 7.2 above shall be in cash, in Common Stock or a combination of both, as determined by the Committee (or the Board, in the case of an award to an Independent Director). To the
extent any payment under this Article VII is effected in Common Stock, it shall be made subject to satisfaction of all provisions of Section 5.3. 

  
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 7.9 Consideration. As consideration for the issuance of a Performance Award, Dividend
Equivalent, award of Restricted Stock Unit and/or Stock Payment, the Grantee shall agree, in a written agreement, to remain in the employ of, to consult for, or to remain as an Independent Director of, as applicable, the Company or any Subsidiary
for a period of at least one year after such Performance Award, Dividend Equivalent, award of Restricted Stock Unit and/or Stock Payment is granted (or such shorter period as may be fixed in such agreement or by action of the Committee (or the
Board, in the case of an award to an Independent Director) following such grant or, in the case of an Independent Director, until the next annual meeting of stockholders of the Company). Nothing in this Plan or in any agreement hereunder shall
confer on any Grantee any right to continue in the employ of, as a consultant for or as an Independent Director of the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and any Subsidiary, which are
hereby expressly reserved, to discharge any Grantee at any time for any reason whatsoever, with or without good cause. 
 ARTICLE
VIII. STOCK APPRECIATION RIGHTS 
 8.1 Grant of Stock Appreciation Rights. A Stock Appreciation Right may be granted to any key
Employee, consultant or Independent Director selected by the Committee (or the Board, in the case of an award to an Independent Director). A Stock Appreciation Right may be granted (i) in connection and simultaneously with the grant of an
Option, (ii) with respect to a previously granted Option, or (iii) independent of an Option. A Stock Appreciation Right shall be subject to such terms and conditions not inconsistent with this Plan as the Committee (or the Board, in the
case of an award to an Independent Director) shall impose and shall be evidenced by a written Stock Appreciation Right Agreement, which shall be executed by the Grantee and an authorized officer of the Company; provided, however, that
no Stock Appreciation Right shall have a term longer than six (6) years from the date the Stock Appreciation Right is granted. Without limiting the generality of the foregoing, the Committee may, in its discretion and on such terms as it deems
appropriate, require as a condition of the grant of a Stock Appreciation Right to an Employee, consultant or Independent Director that the Employee, consultant or Independent Director surrender for cancellation some or all of the unexercised
Options, awards of Restricted Stock or Restricted Stock Units, Performance Awards, Stock Appreciation Rights, Dividend Equivalents or Stock Payments, or other rights which have been previously granted to him under this Plan or otherwise. Subject to
Section 3.4(b), a Stock Appreciation Right, the grant of which is conditioned upon such surrender, may have an exercise price lower (or higher) than the exercise price of the surrendered Option or other award, may cover the same (or a lesser or
greater) number of shares as such surrendered Option or other award, may contain such other terms as the Committee deems appropriate, and shall be exercisable in accordance with its terms, without regard to the number of shares, price, exercise
period or any other term or condition of such surrendered Option or other award; provided, however, except as permitted under Section 10.3 of the Plan, no Stock Appreciation Right shall, without stockholder approval, be
(i) repriced, exchanged for an Option or Stock Appreciation Right with a lower price or otherwise modified where the effect would be to reduce the exercise price of the Stock Appreciation Right; or (ii) exchanged for cash or an alternate
award under the Plan. 
 8.2 Coupled Stock Appreciation Rights. 

(a) A Coupled Stock Appreciation Right (“CSAR”) shall be related to a particular Option and shall be exercisable only when
and to the extent the related Option is exercisable. 
 (b) A CSAR may be granted to the Grantee for no more than the
number of shares subject to the simultaneously or previously granted Option to which it is coupled. 
 (c) A CSAR shall
entitle the Grantee (or other person entitled to exercise the Option pursuant to this Plan) to surrender to the Company unexercised a portion of the Option to which the CSAR relates (to the extent then exercisable pursuant to its terms) and to
receive from the Company in exchange therefor an amount determined by multiplying the difference obtained by subtracting the Option exercise price from the Fair Market Value of a share of Common Stock on the date of exercise of the CSAR by the
number of shares of Common Stock with respect to which the CSAR shall have been exercised, subject to any limitations the Committee may impose. 
 8.3 Independent Stock Appreciation Rights. 
 (a) An Independent Stock Appreciation Right
(“ISAR”) shall be unrelated to any Option and shall have a term set by the Committee. An ISAR shall be exercisable in such installments as the Committee may determine. An ISAR shall cover such number of shares of Common Stock as the
Committee may determine; provided, however, that unless the Committee otherwise provides in the terms of the ISAR or otherwise, no ISAR granted to a person subject to Section 16 of the Exchange Act shall be exercisable until at least six
months have elapsed from (but excluding) the date on which the Option was granted. The exercise price per share of Common Stock subject to each ISAR shall be set by the Committee; provided, however, that such price shall not be less than one
hundred percent (100%) of the Fair Market Value of a share of Common Stock on the date the ISAR is granted. An ISAR is exercisable only while the Grantee is an Employee, consultant or Independent Director; provided that the Committee may determine
that the ISAR may be exercised subsequent to Termination of Employment, Termination of Consultancy or Termination of Directorship without cause, or following a change in control of the Company, or because of the Grantee’s retirement, death or
disability, or otherwise. 

  
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 (b) An ISAR shall entitle the Grantee (or other person entitled to exercise the
ISAR pursuant to this Plan) to exercise all or a specified portion of the ISAR (to the extent then exercisable pursuant to its terms) and to receive from the Company an amount determined by multiplying the difference obtained by subtracting the
exercise price per share of the ISAR from the Fair Market Value of a share of Common Stock on the date of exercise of the ISAR by the number of shares of Common Stock with respect to which the ISAR shall have been exercised, subject to any
limitations the Committee may impose. 
 8.4 Payment and Limitations on Exercise. 

(a) Payment of the amount determined under Sections 8.2(c) and 8.3(b) above shall be in cash, in Common Stock (based on its
Fair Market Value as of the date the Stock Appreciation Right is exercised) or a combination of both, as determined by the Committee. To the extent such payment is effected in Common Stock it shall be made subject to satisfaction of all provisions
of Section 5.3 above pertaining to Options. 
 (b) Grantees of Stock Appreciation Rights may be required to comply
with any timing or other restrictions with respect to the settlement or exercise of a Stock Appreciation Right, including a window-period limitation, as may be imposed in the discretion of the Board or Committee. 

8.5 Consideration. As consideration for the granting of a Stock Appreciation Right, the Committee (or the Board in the case of an award to an
Independent Director) may require the Grantee to agree, in the written Stock Appreciation Right Agreement, to remain in the employ of, to consult for or to remain as an Independent Director of, as applicable, the Company or any Subsidiary for a
period of at least one year after the Stock Appreciation Right is granted (or such shorter period as may be fixed in the Stock Appreciation Right Agreement or by action of the Committee (or the Board, in the case of an award to an Independent
Director) following grant of the Stock Appreciation Right or, in the case of an Independent Director, until the next annual meeting of stockholders of the Company). Nothing in this Plan or in any Stock Appreciation Right Agreement hereunder shall
confer on any Grantee any right to continue in the employ of, as a consultant for or as an Independent Director of the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and any Subsidiary, which are
hereby expressly reserved, to discharge any Grantee at any time for any reason whatsoever, with or without good cause. 
 ARTICLE IX.
ADMINISTRATION 
 9.1 Compensation Committee. The Compensation Committee (or another committee or a subcommittee of the Board
assuming the functions of the Committee under this Plan) shall consist solely of two or more Independent Directors appointed by and holding office at the pleasure of the Board, each of whom is a
“non-employee director” as defined by Rule 16b-3 and otherwise meets the requirements of applicable law. In its absolute discretion, the Board may at any
time and from time to time exercise any and all rights and duties of the Committee under this Plan. Appointment of Committee members shall be effective upon acceptance of appointment. Committee members may resign at any time by delivering written
notice to the Board. Vacancies in the Committee may be filled by the Board. Should any Awards made under the Plan prior to November 2, 2017 be intended to qualify as “performance-based compensation” within the meaning of
Section 162(m)(4)(C) of the Code prior to its repeal (“162(m) Awards”), then all such determinations regarding such Awards will be made solely by a Committee comprised solely of two of more “outside directors” within the
meaning of Section 162(m) of the Code. 
 9.2 Duties and Powers of Committee. It shall be the duty of the Committee to conduct
the general administration of this Plan in accordance with its provisions. The Committee shall have the power to interpret this Plan and the agreements pursuant to which Options, awards of Restricted Stock or Restricted Stock Units, Performance
Awards, Stock Appreciation Rights, Dividend Equivalents or Stock Payments are granted or awarded, and to adopt such rules for the administration, interpretation, and application of this Plan as are consistent therewith and to interpret, amend or
revoke any such rules. Notwithstanding the foregoing, the full Board, acting by a majority of its members in office, shall conduct the general administration of the Plan with respect to awards granted to Independent Directors. Any such grant or
award under this Plan need not be the same with respect to each Optionee, Grantee or Restricted Stockholder. Any such interpretations and rules with respect to Incentive Stock Options shall be consistent with the provisions of Section 422 of
the Code. To the extent permitted by applicable law, the Committee may from time to time delegate to a committee of one or more members of the Board or one or more officers of the Company the authority to grant or amend awards to Participants other
than (a) senior executives of the Company who are subject to Section 16 of the Exchange Act, or (b) officers of the Company (or members of the Board) to whom authority to grant or amend awards has been delegated hereunder. Any
delegation hereunder shall be subject to the restrictions and limits that the Committee specifies at the time of such delegation, and the Committee may at any time rescind the authority so delegated or appoint a new delegatee. At all times, the
delegatee appointed under this Section shall serve in such capacity at the pleasure of the Committee. 
 9.3 Majority Rule; Unanimous
Written Consent. The Committee shall act by a majority of its members in attendance at a meeting at which a quorum is present or by a memorandum or other written instrument signed by all members of the Committee. 

  
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 9.4 Compensation; Professional Assistance; Good Faith Actions. Members of the Committee
shall receive such compensation for their services as members as may be determined by the Board. All expenses and liabilities which members of the Committee incur in connection with the administration of this Plan shall be borne by the Company. The
Committee may, with the approval of the Board, employ attorneys, consultants, accountants, appraisers, brokers, or other persons. The Committee, the Company and the Company’s officers and Directors shall be entitled to rely upon the advice,
opinions or valuations of any such persons. All actions taken and all interpretations and determinations made by the Committee or the Board in good faith shall be final and binding upon all Optionees, Grantees, Restricted Stockholders, the Company
and all other interested persons. No members of the Committee or Board shall be personally liable for any action, determination or interpretation made in good faith with respect to this Plan, Options, awards of Restricted Stock or Restricted Stock
Units, Performance Awards, Stock Appreciation Rights, Dividend Equivalents or Stock Payments, and all members of the Committee and the Board shall be fully protected by the Company in respect of any such action, determination or interpretation.

 ARTICLE X. MISCELLANEOUS PROVISIONS 
 10.1 Not Transferable. 
 (a) Options, Restricted Stock awards, Restricted Stock Unit awards,
Performance Awards, Stock Appreciation Rights, Dividend Equivalents or Stock Payments under this Plan may not be sold, pledged, assigned, or transferred in any manner other than by will or the laws of descent and distribution or pursuant to a QDRO,
unless and until such rights or awards have been exercised, or the shares underlying such rights or awards have been issued, and all restrictions applicable to such shares have lapsed. No Option, Restricted Stock award, Restricted Stock Unit award,
Performance Award, Stock Appreciation Right, Dividend Equivalent or Stock Payment or interest or right therein shall be liable for the debts, contracts or engagements of the Optionee, Grantee or Restricted Stockholder or his successors in interest
or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or
any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence. 

(b) During the lifetime of the Optionee or Grantee, only he may exercise an Option or other right or award (or any portion thereof)
granted to him under the Plan, unless it has been disposed of pursuant to a QDRO. After the death of the Optionee or Grantee, any exercisable portion of an Option or other right or award may, prior to the time when such portion becomes unexercisable
under the Plan or the applicable Stock Option Agreement or other agreement, be exercised by his personal representative or by any person empowered to do so under the deceased Optionee’s or Grantee’s will or under the then applicable laws
of descent and distribution. 
 10.2 Amendment, Suspension or Termination of this Plan. Except as otherwise provided in this
Section 10.2, this Plan may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Board or the Committee. However, the Board or the Committee will obtain stockholder approval of
any Plan amendment to the extent necessary to comply with applicable law, or the rules and regulations of any stock exchange or national market system on which the Common Stock is then listed. No amendment, suspension or termination of this Plan
shall, without the consent of the holder of Options, Restricted Stock awards, Restricted Stock Unit awards, Performance Awards, Stock Appreciation Rights, Dividend Equivalents or Stock Payments, alter or impair any rights or obligations under any
Options, Restricted Stock awards, Restricted Stock Unit awards, Performance Awards, Stock Appreciation Rights, Dividend Equivalents or Stock Payments theretofore granted or awarded, unless the award itself otherwise expressly so provides. No
Options, Restricted Stock, Restricted Stock Units, Performance Awards, Stock Appreciation Rights, Dividend Equivalents or Stock Payments may be granted or awarded during any period of suspension or after termination of this Plan, and in no event may
any Incentive Stock Option be granted under this Plan after June 27, 2032. 
 10.3 Changes in Common Stock or Assets of the
Company, Acquisition or Liquidation of the Company and Other Corporate Events. 
 (a) Subject to Section 10.3(d),
in the event that the Committee (or the Board, in the case of awards granted to Independent Directors) determines that any dividend or other distribution (whether in the form of cash, Common Stock, other securities, or other property) (other than
normal cash dividends), recapitalization, reclassification, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination,
repurchase, liquidation, dissolution, or sale, transfer, exchange or other disposition of all or substantially all of the assets of the Company (including, but not limited to, a Corporate Transaction), or exchange of Common Stock or other securities
of the Company, issuance of warrants or other rights to purchase Common Stock or other securities of the Company, or other similar corporate transaction or event (other than an Equity Restructuring), in the Committee’s sole discretion (or in
the case of awards granted to Independent Directors, the Board’s sole discretion), affects the Common Stock such that an adjustment is determined by the Committee to be appropriate in order to prevent dilution or enlargement of the benefits or
potential benefits intended to be made available under the Plan or with respect to an Option, Restricted Stock award, 

  
 14

 
Performance Award, Stock Appreciation Right, Dividend Equivalent, Restricted Stock Unit award or Stock Payment, then the Committee (or the Board, in the case of awards granted to Independent
Directors) shall, in such manner as it may deem equitable, adjust any or all of: 
 (i) the number and kind of shares of
Common Stock (or other securities or property) with respect to which Options, Restricted Stock Units, Performance Awards, Stock Appreciation Rights, Dividend Equivalents or Stock Payments may be granted under the Plan, or which may be granted as
Restricted Stock (including, but not limited to, adjustments of the limitations in Section 2.1 on the maximum number and kind of shares which may be issued, adjustments of the Award Limit and adjustments of the manner in which shares subject to
Full Value Awards will be counted), 
 (ii) the number and kind of shares of Common Stock (or other securities or property)
subject to outstanding Options, Restricted Stock Units, Performance Awards, Stock Appreciation Rights, Dividend Equivalents, or Stock Payments, and in the number and kind of shares of outstanding Restricted Stock,

(iii) the grant or exercise price with respect to any Option, Restricted Stock Unit, Performance Award, Stock Appreciation Right,
Dividend Equivalent or Stock Payment, and 
 (iv) the number and kind of shares of Common Stock (or other securities or
property) for which automatic grants of Options and Restricted Stock Units are subsequently to be made to new and continuing Independent Directors pursuant to Section 3.4(d) and Section 7.4(b), respectively. 

(b) Subject to Sections 10.3(b)(vii), 10.3(d) and 10.3(e) in the event of any Corporate Transaction or other transaction or
event described in Section 10.3(a) or any unusual or nonrecurring transactions or events affecting the Company, any affiliate of the Company, or the financial statements of the Company or any affiliate, or of changes in applicable laws,
regulations, or accounting principles, the Committee (or the Board, in the case of awards granted to Independent Directors) in its discretion is hereby authorized to take any one or more of the following actions whenever the Committee (or the Board,
in the case of awards granted to Independent Directors) determines that such action is appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or with respect to any
option, right or other award under this Plan, to facilitate such transactions or events or to give effect to such changes in laws, regulations or principles: 

(i) In its sole and absolute discretion, and on such terms and conditions as it deems appropriate, the Committee (or the Board, in
the case of awards granted to Independent Directors) may provide, either by the terms of the agreement or by action taken prior to the occurrence of such transaction or event and either automatically or upon the holder’s request, for either the
purchase of any such Option, Performance Award, Stock Appreciation Right, Dividend Equivalent, or Stock Payment, or any Restricted Stock or Restricted Stock Unit for an amount of cash equal to the amount that could have been attained upon the
exercise of such option, right or award or realization of the holder’s rights had such option, right or award been currently exercisable or payable or fully vested or the replacement of such option, right or award with other rights or property
selected by the Committee (or the Board, in the case of awards granted to Independent Directors) in its sole discretion; 

(ii) In its sole and absolute discretion, the Committee (or the Board, in the case of awards granted to Independent Directors) may
provide, either by the terms of such Option, Performance Award, Stock Appreciation Right, Dividend Equivalent, or Stock Payment, or Restricted Stock or Restricted Stock Unit award or by action taken prior to the occurrence of such transaction or
event that it cannot be exercised after such event; 
 (iii) In its sole and absolute discretion, and on such terms and
conditions as it deems appropriate, the Committee (or the Board, in the case of awards granted to Independent Directors) may provide, either by the terms of such Option, Performance Award, Stock Appreciation Right, Dividend Equivalent, or Stock
Payment, or Restricted Stock or Restricted Stock Unit award or by action taken prior to the occurrence of such transaction or event, that for a specified period of time prior to such transaction or event, such option, right or award shall be vested
and/or exercisable as to all shares covered thereby, notwithstanding anything to the contrary in (i) Section 4.4 or (ii) the provisions of such Option, Performance Award, Stock Appreciation Right, Dividend Equivalent, or Stock
Payment, or Restricted Stock or Restricted Stock Unit award; 
 (iv) In its sole and absolute discretion, and on such terms
and conditions as it deems appropriate, the Committee (or the Board, in the case of awards granted to Independent Directors) may provide, either by the terms of such Option, Performance Award, Stock Appreciation Right, Dividend Equivalent, or Stock
Payment, or Restricted Stock or Restricted Stock Unit award or by action taken prior to the occurrence of such transaction or event, that upon such event, such option, right or award be assumed by the successor or survivor corporation, or a parent
or subsidiary thereof, or shall be substituted for by similar options, rights or awards covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares
and prices; 

  
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 (v) In its sole and absolute discretion, and on such terms and conditions as it
deems appropriate, the Committee (or the Board, in the case of awards granted to Independent Directors) may make adjustments in the number and type of shares of Common Stock (or other securities or property) subject to outstanding Options,
Restricted Stock Units, Performance Awards, Stock Appreciation Rights, Dividend Equivalents, or Stock Payments, and in the number and kind of outstanding Restricted Stock and/or in the terms and conditions of (including the grant or exercise price),
and the criteria included in, outstanding options, rights and awards and options, rights and awards which may be granted in the future; 
 (vi) In its sole and absolute discretion, and on such terms and conditions as it deems appropriate, the Committee may provide either by the terms of a Restricted Stock award or by action taken prior to the occurrence of such event
that, for a specified period of time prior to such event, the restrictions imposed under a Restricted Stock Agreement upon some or all shares of Restricted Stock may be terminated, and, some or all shares of such Restricted Stock may cease to be
subject to repurchase under Section 6.6 or forfeiture under Section 6.5 after such event; and 
 (vii) None
of the foregoing discretionary actions taken under this Section 10.3(b) shall be permitted with respect to awards granted to Independent Directors to the extent that such discretion would be inconsistent with the applicable exemptive conditions
of Rule 16b-3. In the event of a Change in Control or a Corporate Transaction, to the extent that the Board does not have the ability under Rule 16b-3 to take
or to refrain from taking the discretionary actions set forth in Section 10.3(b)(iii) above, each award granted to an Independent Director shall be vested and/or exercisable as to all shares covered thereby upon such Change in Control or during
the five days immediately preceding the consummation of such Corporate Transaction and subject to such consummation, notwithstanding anything to the contrary in Section 4.4 or the vesting schedule of such awards. In the event of a Corporate
Transaction, to the extent that the Board does not have the ability under Rule 16b-3 to take or to refrain from taking the discretionary actions set forth in Section 10.3(b)(ii) above, no Option
granted to an Independent Director may be exercised following such Corporate Transaction unless such Option is, in connection with such Corporate Transaction, either assumed by the successor or survivor corporation (or parent or subsidiary thereof)
or replaced with a comparable right with respect to shares of the capital stock of the successor or survivor corporation (or parent or subsidiary thereof). 

(c) Subject to Sections 10.3(d) and 10.7, the Committee (or the Board, in the case of awards granted to Independent Directors)
may, in its discretion, include such further provisions and limitations in any Option, Performance Award, Stock Appreciation Right, Dividend Equivalent, or Stock Payment, or Restricted Stock or Restricted Stock Unit agreement or certificate, as it
may deem equitable and in the best interests of the Company. 
 (d) With respect to Incentive Stock Options, no adjustment
or action described in this Section 10.3 or in any other provision of the Plan shall be authorized to the extent that such adjustment or action would cause the Plan to violate Section 422(b)(1) of the Code or any successor provision
thereto. With respect to 162(m) Awards (as defined below), no adjustment or action described in this Section 10.3 or in any other provision of the Plan shall be authorized to the extent that such adjustment or action would cause such award to
fail to so qualify under Code Section 162(m)(4)(C) prior to its repeal unless the Committee determines that the award should not so qualify. Furthermore, no such adjustment or action shall be authorized to the extent such adjustment or action
would result in short-swing profits liability under Section 16 or violate the exemptive conditions of Rule 16b-3 unless the Committee (or the Board, in the case of awards granted to Independent
Directors) determines that the option or other award is not to comply with such exemptive conditions. The number of shares of Common Stock subject to any option, right or award shall always be rounded to the next whole number. 

(e) In connection with the occurrence of any Equity Restructuring, and notwithstanding anything to the contrary in Sections 10.3(a)
and 10.3(b): 
 (i) The number and type of securities subject to each outstanding award and the exercise price or grant
price thereof, if applicable, shall be equitably adjusted. The adjustments provided under this Section 10(e) shall be nondiscretionary and shall be final and binding on the affected holder and the Company. 

(ii) The Committee (or the Board, in the case of awards granted to Independent Directors) shall make such equitable adjustments, if
any, as the Committee may deem appropriate to reflect such Equity Restructuring with respect to the aggregate number and kind of shares that may be issued under the Plan (including, but not limited to, adjustments of the limitations in
Section 2.1 on the maximum number and kind of shares which may be issued under the Plan or the Award Limit and adjustments of the manner in which shares subject to Full Value Awards will be counted). 

10.4 Tax Withholding. Each Optionee, Grantee or Restricted Stockholder must pay the Company, or make provision satisfactory to the Committee,
for payment of any sums required by federal, state or local tax law to be withheld with respect to the issuance, vesting, exercise or other taxable event related to any Option, Restricted Stock, Restricted Stock Unit, Performance Award, Stock
Appreciation Right, Dividend Equivalent or Stock Payment by the date of the event creating the tax liability. The Company shall be entitled to deduct from other compensation payable to each Optionee, Grantee or Restricted Stockholder of any sums
required by federal, state or local tax law to be withheld with respect to the issuance, vesting, 

  
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exercise or other taxable event related to any Option, Restricted Stock, Restricted Stock Unit, Performance Award, Stock Appreciation Right, Dividend Equivalent or Stock Payment. The Committee
(or the Board, in the case of awards granted to Independent Directors) may in its discretion and in satisfaction of the foregoing requirement allow such Optionee, Grantee or Restricted Stockholder to (a) satisfy such tax obligations in cash, by
wire transfer of immediately available funds, or by check made payable to the order of the Company, provided that the Company may limit the use of the foregoing payment forms in its discretion, (b) satisfy such tax obligations by the deduction
of such amounts from other compensation payable to each Optionee, Grantee or Restricted Stockholder, (c) elect to have the Company withhold shares of Common Stock otherwise issuable under such Option or other award (or allow the return of
shares of Common Stock) having a fair market value equal to the amounts required to be withheld, (d) if there is a public market for the shares of Common Stock at the time the tax obligations are satisfied, unless the Company otherwise
determines, satisfy such tax obligations by (i) delivery (including electronically or telephonically to the extent permitted by the Company) of an irrevocable and unconditional undertaking by a broker acceptable to the Company to deliver
promptly to the Company sufficient funds to satisfy the tax obligations, or (ii) delivery by the Participant to the Company of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company to deliver promptly to the
Company cash or a check sufficient to satisfy the tax withholding; provided that such amount is paid to the Company at such time as may be required by the Committee, or (e) satisfy such tax obligations through any combination of the foregoing.
For avoidance of doubt, the Committee (or the Board, in the case of awards granted to Independent Directors) may determine the fair market value of the shares of Common Stock for tax purposes upon settlement of an award using such methodology as may
be required by applicable laws or as appropriate for administrative reasons. The number of shares of Common Stock which may be so withheld or returned pursuant to clause (c) above shall be limited to the number of shares of Common Stock which
have a fair market value on the date of withholding or return no greater than the aggregate amount of such liabilities based on the minimum statutory withholding rates for federal, state, local and foreign income tax and payroll tax purposes that
are applicable to such supplemental taxable income (or, to the extent provided by the Committee (or the Board, in the case of awards granted to Independent Directors), such higher withholding rate that is in no event greater than the maximum
individual statutory tax rate in the applicable jurisdiction at the time of such withholding (or such other rate as may be required to avoid the liability classification of the applicable award under generally accepted accounting principles in the
United States of America)). If any tax withholding obligation will be satisfied under clause (c) above by the Company’s retention of shares of Common Stock (or the return of shares of Common Stock) from the Option or other award creating
the tax obligation and there is a public market for the shares of Common Stock at the time the tax obligation is satisfied, the Company may elect to instruct any brokerage firm determined acceptable to the Company for such purpose to sell on the
applicable Optionee’s, Grantee’s or Restricted Stockholder’s behalf some or all of the shares of Common Stock retained or returned and to remit the proceeds of the sale to the Company or its designee, and each Optionee’s,
Grantee’s or Restricted Stockholder’s acceptance of an award under the Plan will constitute the Optionee’s, Grantee’s or Restricted Stockholder’s authorization to the Company and instruction and authorization to such
brokerage firm to complete the transactions described in this sentence. 
 10.5 Loans. The Committee may, in its discretion, and to
the extent permitted by law extend one or more loans to key Employees in connection with the exercise or receipt of an Option, Performance Award, Stock Appreciation Right, Dividend Equivalent or Stock Payment granted under this Plan, or the
issuance, vesting or distribution of Restricted Stock or Restricted Stock Units awarded under this Plan. The terms and conditions of any such loan shall be set by the Committee (or the Board, in the case of awards granted to Independent Directors).
No loans will be made to key Employees if such loans would be prohibited by Section 402 of the Sarbanes-Oxley Act of 2002. 
 10.6
Forfeiture Provisions. Pursuant to its general authority to determine the terms and conditions applicable to awards under the Plan, the Committee (or the Board, in the case of awards granted to Independent Directors) shall have the right (to
the extent consistent with the applicable exemptive conditions of Rule 16b-3) to provide, in the terms of Options or other awards made under the Plan, or to require the recipient to agree by separate
written instrument, that (i) any proceeds, gains or other economic benefit actually or constructively received by the recipient upon any receipt or exercise of the award, or upon the receipt or resale of any Common Stock underlying such award,
must be paid to the Company, and (ii) the award shall terminate and any unexercised portion of such award (whether or not vested) shall be forfeited, if (a) a Termination of Employment, Termination of Consultancy or Termination of
Directorship occurs prior to a specified date, or within a specified time period following receipt or exercise of the award, or (b) the recipient at any time, or during a specified time period, engages in any activity in competition with the
Company, or which is inimical, contrary or harmful to the interests of the Company, as further defined by the Committee (or the Board, as applicable). 
 10.7 Limitations Applicable to Section 16 Persons and Performance-Based Compensation. Notwithstanding any other provision of this Plan, this Plan, and any Option, Performance Award, Stock Appreciation
Right, Dividend Equivalent or Stock Payment granted, or Restricted Stock or Restricted Stock Unit awarded, to any individual who is then subject to Section 16 of the Exchange Act, shall be subject to any additional limitations set forth in any
applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the
extent permitted by applicable law, the Plan, Options, Performance Awards, Stock Appreciation Rights, Dividend Equivalents, Stock Payments, Restricted Stock and Restricted Stock Units granted or awarded hereunder

  
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shall be deemed amended to the extent necessary to conform to such applicable exemptive rule. Furthermore, notwithstanding any other provision of this Plan or any award agreement, each 162(m)
Award (and each award which was otherwise not subject to the deduction limitation of Section 162(m) of the Code) shall be subject to any additional limitations as the Committee determines necessary for such 162(m) Award to qualify as
“performance-based compensation” as described in Section 162(m)(4)(C) of the Code prior to its repeal (or to be so exempt) pursuant to the transition relief rules in the Tax Cuts and Jobs Act of 2017 (the “TCJA”), and to the
extent any of the provisions of the Plan or any award (or any amendments hereto pursuant to any amendment and restatement of the Plan) would cause any 162(m) Awards to fail to so qualify or other awards to be so exempt, any such provisions shall not
apply to such awards to the extent necessary to ensure the continued qualification or exemption of such awards. To the extent permitted by applicable law, the Plan and any such awards shall be deemed amended to the extent necessary to conform to
such requirements. 
 10.8 Effect of Plan Upon Options and Compensation Plans. The adoption of this Plan shall not affect any other
compensation or incentive plans in effect for the Company or any Subsidiary. Nothing in this Plan shall be construed to limit the right of the Company (i) to establish any other forms of incentives or compensation for Employees, Directors or
Consultants of the Company or any Subsidiary or (ii) to grant or assume options or other rights otherwise than under this Plan in connection with any proper corporate purpose including but not by way of limitation, the grant or assumption of
options in connection with the acquisition by purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any corporation, partnership, limited liability company, firm or association. 

10.9 Compliance with Laws. This Plan, the granting and vesting of Options, Restricted Stock awards, Restricted Stock Unit awards, Performance
Awards, Stock Appreciation Rights, Dividend Equivalents or Stock Payments under this Plan and the issuance and delivery of shares of Common Stock and the payment of money under this Plan or under Options, Performance Awards, Stock Appreciation
Rights, Dividend Equivalents or Stock Payments granted or Restricted Stock or Restricted Stock Units awarded hereunder are subject to compliance with all applicable federal and state laws, rules and regulations (including but not limited to state
and federal securities law and federal margin requirements) and to such approvals by any listing, regulatory or governmental authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection therewith. Any
securities delivered under this Plan shall be subject to such restrictions, and the person acquiring such securities shall, if requested by the Company, provide such assurances and representations to the Company as the Company may deem necessary or
desirable to assure compliance with all applicable legal requirements. To the extent permitted by applicable law, the Plan, Options, Restricted Stock awards, Restricted Stock Unit awards, Performance Awards, Stock Appreciation Rights, Dividend
Equivalents or Stock Payments granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such laws, rules and regulations. 
 10.10 Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Plan. 

10.11 Governing Law. This Plan and any agreements hereunder shall be administered, interpreted and enforced under the internal laws of the
State of California without regard to conflicts of laws thereof. 
 10.12 Section 409A. To the extent that the
Committee (or the Board, in the case of awards granted to Independent Directors) determines that any award granted under the Plan is subject to Section 409A of the Code, the award agreement evidencing such award shall incorporate the terms and
conditions required by Section 409A of the Code. To the extent applicable, the Plan and award agreements shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretive
guidance issued thereunder. Notwithstanding any provision of the Plan to the contrary, in the event that the Committee (or the Board, in the case of awards granted to Independent Directors) determines that any award may be subject to
Section 409A of the Code and related Department of Treasury guidance (including Department of Treasury guidance), the Committee (or the Board, in the case of awards granted to Independent Directors) may adopt such amendments to the Plan and the
applicable award agreement or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Committee (or the Board, in the case of awards granted to Independent
Directors) determines are necessary or appropriate to (a) exempt the award from Section 409A of the Code and/or preserve the intended tax treatment of the benefits provided with respect to the award, or (b) comply with the
requirements of Section 409A of the Code and related Department of Treasury guidance. 
 10.13 Award Vesting Limitations.
Notwithstanding any other provision of the Plan to the contrary, but subject to Section 10.3 and the last sentence of this Section 10.13, Options, awards of Restricted Stock, Performance Awards, Dividend Equivalents, awards of Restricted
Stock Units, Stock Payments or Stock Appreciation Rights granted under the Plan shall vest no earlier than the first anniversary of the date the award is granted and no award agreement shall reduce or eliminate the minimum vesting requirement;
provided, however, that, notwithstanding the foregoing, the minimum vesting requirement of this Section 10.13 shall not apply to: (a) any awards delivered in lieu of fully-vested cash-based awards under the Plan (or other
fully-vested cash awards or payments), (b) any awards to Independent Directors for which the vesting period runs from the date of one annual meeting of the Company’s stockholders to the next annual meeting of the Company’s stockholders
which is at least fifty (50) weeks after the immediately preceding year’s annual meeting, or (c) any other awards that result in the issuance of an aggregate of up to five percent (5%) of the Overall Share Limit as of the Restatement
Effective Date. Nothing in 

  
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this Section 10.13 precludes the Committee (or the Board, in the case of awards granted to Independent Directors) from taking action, in its sole discretion, to accelerate the vesting of any
award in connection with or following a Grantee’s, Optionee’s or Restricted Stockholder’s death, disability, Termination of Employment, Termination of Consultancy, Termination of Directorship or the consummation of a Corporate
Transaction or a Change in Control. 
 10.14 Dividend Limitations. Notwithstanding any other provision of the Plan to the contrary,
dividends and Dividend Equivalents with respect to an award that is subject to vesting that are based on dividends paid prior to the vesting of such award shall only be paid out to the Restricted Stockholder or Grantee, as applicable, to the extent
that the vesting conditions are subsequently satisfied and the award vests. 

  
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