Document:

Exhibit
10.17

 

Warrant

 

THIS
WARRANT AND THE COMMON SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED. THIS WARRANT AND THE COMMON SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED
OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY
TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

	 	Right
    to Purchase _____ shares of Common Stock of IR-Med, Inc. (subject to adjustment as provided herein)

 

FORM
OF COMMON STOCK PURCHASE WARRANT

 

	No.
    2021- ___	Issue
    Date: December 28, 2020

 

IR-MED,
INC., a corporation organized under the laws of the State of Nevada (the “Company”), hereby certifies that, for value
received, ______________, or its assigns (the “Holder”), is entitled, subject to the terms set forth below,
to purchase from the Company at any time after the Issue Date until 5:00 p.m., E.T. on December 28, 2023 (the “Expiration
Date”), _________(________) fully paid and nonassessable shares of Common Stock at a per share purchase price of $0.64 (the
“Purchase Price”). The number of such shares of Common Stock and the Purchase Price are subject to adjustment as provided
herein. The Company may reduce the Purchase Price without the consent of the Holder. Capitalized terms used and not otherwise
defined herein shall have the meanings set forth in that certain Subscription Agreement (the “Subscription Agreement”),
dated on or about ___________, 2020, entered into by the Company and Holder.

 

As
used herein the following terms, unless the context otherwise requires, have the following respective meanings:

 

(a)
The term “Company” shall mean IR-Med, Inc. and any corporation which shall succeed or assume the obligations thereof
hereunder.

 

(b)
The term “Common Stock” includes (a) the Company’s common stock, $0.001 par value per share, as authorized on
the date of the Subscription Agreement, and (b) any Other Securities into which or for which any of the securities described in
(a) may be converted or exchanged pursuant to a plan of recapitalization, reorganization, merger, sale of assets or otherwise.

 

(c)
The term “Other Securities” refers to any stock (other than Common Stock) and other securities of the Company or any
other person (corporate or otherwise) which the holder of the Warrant at any time shall be entitled to receive, or shall have
received, on the exercise of the Warrant, in lieu of or in addition to Common Stock, or which at any time shall be issuable or
shall have been issued in exchange for or in replacement of Common Stock or Other Securities pursuant to Section 5 or otherwise.

 

(d)
The term “Warrant Shares” shall mean the Common Stock issuable upon exercise of this Warrant.

 

    	 

    	 

    

 

1.
Exercise of Warrant.

 

1.1.
Number of Shares Issuable upon Exercise. From and after the Issue Date through and including the Expiration Date, the Holder
hereof shall be entitled to receive, upon exercise of this Warrant in whole in accordance with the terms of subsection 1.2 or
upon exercise of this Warrant in part in accordance with subsection 1.3, Common Stock of the Company, subject to adjustment pursuant
to Section 4.

 

1.2.
Full Exercise. This Warrant may be exercised in full by the Holder hereof by delivery of an original or facsimile copy
of the form of subscription attached as Exhibit A hereto (the “Subscription Form”) duly executed by such Holder and
delivery within two days thereafter of payment by wire transfer or by certified or official bank check payable to the order of
the Company, in the amount obtained by multiplying the number of shares of Common Stock for which this Warrant is then exercisable
by the Purchase Price then in effect. The original Warrant is not required to be surrendered to the Company until it has been
fully exercised.

 

1.3.
Partial Exercise. This Warrant may be exercised in part (but not for a fractional share) by surrender of this Warrant in
the manner and at the place provided in subsection 1.2 except that the amount payable by the Holder on such partial exercise shall
be the amount obtained by multiplying (a) the number of whole shares of Common Stock designated by the Holder in the Subscription
Form by (b) the Purchase Price then in effect. On any such partial exercise provided the Holder has surrendered the original Warrant,
the Company, at its expense, will forthwith issue and deliver to or upon the order of the Holder hereof a new Warrant of like
tenor, in the name of the Holder hereof or as such Holder (upon payment by such Holder of any applicable transfer taxes) may request,
the whole number of shares of Common Stock for which such Warrant may still be exercised for the balance of.

 

1.7.
Delivery of Stock Certificates, etc. on Exercise. Pursuant to the terms of a Subscription Form, the Company will issue
instructions to the transfer agent accompanied by an opinion of counsel, if so required by the Company’s transfer agent
and shall cause the transfer agent to transmit the certificates representing the shares of Common Stock purchased upon exercise
of this Warrant to the Holder by crediting the account of the Holder’s designated broker with the Depository Trust Corporation
(“DTC”) through its Deposit Withdrawal Agent Commission (“DWAC”) system within four (4) business days
after receipt by the Company of the Subscription Form. The Company agrees that the shares of Common Stock purchased upon exercise
of this Warrant shall be deemed to be issued to the Holder hereof as the record owner of such shares as of the close of business
on the date on which this Warrant shall have been surrendered and payment made for such shares as aforesaid. As soon as practicable
after the exercise of this Warrant in full or in part, and in any event within four (4) business days thereafter (“Warrant
Share Delivery Date”), the Company at its expense (including the payment by it of any applicable issue taxes) will cause
to be issued in the name of and delivered to the Holder hereof, or as such Holder (upon payment by such Holder of any applicable
transfer taxes) may direct in compliance with applicable securities laws, a certificate or certificates for the number of duly
and validly issued, fully paid and nonassessable shares of Common Stock (or Other Securities) to which such Holder shall be entitled
on such exercise, plus, in lieu of any fractional share to which such Holder would otherwise be entitled, cash equal to such fraction
multiplied by the then fair market value of one full share of Common Stock, together with any other stock or other securities
and property (including cash, where applicable) to which such Holder is entitled upon such exercise pursuant to Section 1 or otherwise.

 

    	 

    	 

    

 

2.
Adjustment for Reorganization, Consolidation, Merger, etc.

 

2.1.
Fundamental Transaction. If, at any time while this Warrant is outstanding, (A) the Company effects any merger or consolidation
of the Company with or into another entity, (B) the Company effects any sale of all or substantially all of its assets in one
or a series of related transactions, (C) any tender offer or exchange offer (whether by the Company or another entity) is completed
pursuant to which holders of Common Stock are permitted to tender or exchange their shares for other securities, cash or property,
or (D) the Company effects any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common
Stock is effectively converted into or exchanged for other securities, cash or property (in any such case, a “Fundamental
Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each
Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction
upon exercise of this Warrant, the number of shares of Common Stock of the successor or acquiring corporation or of the Company,
if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”) receivable upon
or as a result of such reorganization, reclassification, merger, consolidation or disposition of assets by a Holder of the number
of shares of Common Stock for which this Warrant is exercisable immediately prior to such event

 

2.2
Continuation of Terms. Upon any reorganization, consolidation, merger or transfer (and any dissolution following any transfer)
referred to in this Section 3, this Warrant shall continue in full force and effect and the terms hereof shall be applicable to
the Other Securities and property receivable on the exercise of this Warrant after the consummation of such reorganization, consolidation
or merger or the effective date of dissolution following any such transfer, as the case may be, and shall be binding upon the
issuer of any Other Securities, including, in the case of any such transfer, the person acquiring all or substantially all of
the properties or assets of the Company.

 

2.3
Extraordinary Events Regarding Common Stock. In the event that the Company shall (a) issue additional shares of the Common
Stock as a dividend or other distribution on outstanding Common Stock, (b) subdivide its outstanding shares of Common Stock, or
(c) combine its outstanding shares of the Common Stock into a smaller number of shares of the Common Stock, then, in each such
event, the Purchase Price shall, simultaneously with the happening of such event, be adjusted by multiplying the then Purchase
Price by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to such
event and the denominator of which shall be the number of shares of Common Stock outstanding immediately after such event, and
the product so obtained shall thereafter be the Purchase Price then in effect. The Purchase Price, as so adjusted, shall be readjusted
in the same manner upon the happening of any successive event or events described herein in this Section 4. The number of shares
of Common Stock that the Holder of this Warrant shall thereafter, on the exercise hereof as provided in Section 1, be entitled
to receive shall be adjusted to a number determined by multiplying the number of shares of Common Stock that would otherwise (but
for the provisions of this Section 4) be issuable on such exercise by a fraction of which (a) the numerator is the Purchase Price
that would otherwise (but for the provisions of this Section 2) be in effect, and (b) the denominator is the Purchase Price in
effect on the date of such exercise.

 

3.
Replacement of Warrant. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or
mutilation of this Warrant and, in the case of any such loss, theft or destruction of this Warrant, on delivery of an indemnity
agreement or security reasonably satisfactory in form and amount to the Company or, in the case of any such mutilation, on surrender
and cancellation of this Warrant, the Company at its expense, twice only, will execute and deliver, in lieu thereof, a new Warrant
of like tenor.

 

4.
Maximum Exercise. The Holder shall not be entitled to exercise this Warrant on an exercise date, in connection with that
number of shares of Common Stock which would be in excess of the sum of (i) the number of shares of Common Stock beneficially
owned by the Holder and its affiliates on an exercise date, and (ii) the number of shares of Common Stock issuable upon the exercise
of this Warrant with respect to which the determination of this limitation is being made on an exercise date, which would result
in beneficial ownership by the Holder and its affiliates of more than 4.99% of the outstanding shares of Common Stock on such
date. For the purposes of the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section
13(d) of the Securities Exchange Act of 1934, as amended, and Regulation 13d-3 thereunder. Subject to the foregoing, the Holder
shall not be limited to aggregate exercises which would result in the issuance of more than 4.99%. The restriction described in
this paragraph may be waived, in whole or in part, upon sixty-one (61) days prior notice from the Holder to the Company to increase
such percentage to up to 9.99%, but not in excess of 9.99%. The Holder may decide whether to convert a Convertible Note, Preferred
Stock or exercise this Warrant to achieve an actual 4.99% or up to 9.99% ownership position as described above, but not in excess
of 9.99%.

 

    	 

    	 

    

 

5.
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered
or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid,
or (iv) transmitted by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party
shall have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder
shall be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting
facsimile machine, at the address or number designated below (if delivered on a business day during normal business hours where
such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during
normal business hours where such notice is to be received) or (b) on the second business day following the date of mailing by
express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first
occur or (c) three business days after deposited in the mail if delivered pursuant to subsection (ii) above. The addresses for
such communications shall be: (i) if to the Company to: IR-Med, Inc., Limor Davidson Mund (limor@ir-medical.com), (ii) if to the
Holder, to the addresses and telecopier number set forth in the first paragraph of this Warrant.

 

6.
Miscellaneous. This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument
in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. This Warrant
shall be construed and enforced in accordance with and governed by the laws of Nevada. Any dispute relating to this Warrant shall
be adjudicated in Las Vegas County in the State of Nevada. The headings in this Warrant are for purposes of reference only, and
shall not limit or otherwise affect any of the terms hereof. The invalidity or unenforceability of any provision hereof shall
in no way affect the validity or enforceability of any other provision.

 

[Signature
page to follow]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the Company has executed this Warrant as of the date first written above.

 

	IR-MED,
    INC.   	 
	 	 
	By:	     	 
	Name:
    	 	 
	Title:
    	 	 

 

    	 

    	 

    

 

Exhibit
A

 

SUBSCRIPTION
FORM

(to
be signed only on exercise of Warrant)

 

TO:
IR-Med, Inc.

 

The
undersigned, pursuant to the provisions set forth in the attached Warrant (No.12), hereby irrevocably elects to purchase (check
applicable box):

 

___
               ________ shares of the Common Stock covered by such Warrant,

 

The
undersigned herewith makes payment of the full purchase price for such shares at the price per share provided for in such Warrant,
which is $___________. Such payment takes the form of (check applicable box or boxes):

 

___
$__________ in lawful money of the United States.

 

The
undersigned requests that the certificates for such shares be issued in the name of, and delivered to _____________________________________________________
whose address is

________________________________________________________________________________________________

___________________________ 

________________________________________________________________________________________________

___________________________

 

Number
of Shares of Common Stock Beneficially Owned on the date of exercise: Less than five percent (5%) of the outstanding Common Stock
of International Display Advertising Inc.

 

The
undersigned represents and warrants that the representations and warranties in Section 4 of the Subscription Agreement (as defined
in this Warrant) are true and accurate with respect to the undersigned on the date hereof.

 

The
undersigned represents and warrants that all offers and sales by the undersigned of the securities issuable upon exercise of the
within Warrant shall be made pursuant to registration of the Common Stock under the Securities Act of 1933, as amended (the “Securities
Act”), or pursuant to an exemption from registration under the Securities Act.

 

	Dated:___________________	 
	 	(Signature
        must conform to name of holder as

        specified
        on the face of the Warrant)

	 	 
	 	 
	 	 
	 	(Address)

 

    	 

    	 

    

 

Exhibit
B

 

TRANSFEROR
ENDORSEMENT

(To
be signed only on transfer of Warrant)

 

	Dated:
    ______________, _____________	 	 
	 	 	(Signature
must conform to name of holder as specified on the face of the warrant)

	 	 	 
	Signed
    in the presence of:	 	 
	 	 	 
	 	 	 
	(Name)	 	 
	 	 	(address)
	 	 	 
	ACCEPTED
    AND AGREED:	 	 
	[TRANSFEREE]	 	 
	 	 	 
	 	 	 
	 	 	(address)
	 	 	 
	(Name)Exhibit
10.18

 

INTERNATIONAL
DISPLAY ADVERTISING, INC.

2020
INCENTIVE STOCK PLAN

 

This
INTERNATIONAL DISPLAY ADVERTISING, INC., 2020 Incentive Stock Plan (the “Plan”) is designed to retain directors,
executive and selected employees and consultants and reward them for making major contributions to success of the Company. These
objectives are accomplished by making long-term incentive awards under the Plan thereby providing Participants with a proprietary
interest in the growth and performance of the Company.

 

	 	1.	Definitions.

 

	 	a.	“Board”
    – The Board of Directors of the Company.

 

	 	b.	“Code”
    – The Internal Revenue Code of 1986, as amended from time to time.

 

	 	c.	“Committee”
    – The Compensation Committee of the Company’s Board, or such other committee of the Board that is designated by
    the Board to administer the Plan, composed of not less than two members of the Board all of whom are disinterested personas,
    as contemplated by Rule 16b-3 (“Rule 16b-3”) promulgated under the Securities Exchange Act of 1934, as
    amended (the “Exchange Act”).

 

	 	d.	“Company”
    – International Display Advertising, Inc., and its subsidiaries, including subsidiaries of subsidiaries.

 

	 	e.	“Exchange
    Act” – The Securities Exchange Act of 1934, as amended from time to time.

 

	 	f.	“Fair
    Market Value” – means, as of any date, the value of a Stock determined as follows:

 

	 	i.	If
    the Stock is trading on any established stock exchange or national market system, the Fair Market Value shall be closing sale
    price of on the Stock on the principal exchange on which Stock is then trading (or as reported on any composite index which
    included such principal exchange), on the trading day immediately preceding such date, or if Stock is not traded on such date,
    then on the next preceding date of which a trade occurred, as reported in The Wall Street Journal or such other comparable
    quotation systems; or

 

	 	ii.	If
    the Stock is not traded on an exchange, but is quoted on the Nasdaq or other comparable quotation system, the Fair Market
    Value shall be the mean between closing representative bid and ask prices for the Stock on the trading day immediately preceding
    such date or, if no bid and ask prices were reported on such date, then on the last date preceding such date on which both
    bid and ask prices were reported, all as reported by Nasdaq or such other comparable quotation system; or

 

	 	iii.	If
    the Stock is not publicly traded on an exchange and not quoted on Nasdaq or a comparable quotation system, the Fair Market
    Value shall be determined in good faith by the Board or Committee or by an external valuation evaluator retained by the Company.

 

	 	g.	“Grant”
    – The grant of any form of stock option, stock award, or stock purchase offer, whether granted singly, in combination
    or in tandem, to a Participant pursuant to such terms, conditions and limitations as the Committee may establish in order
    to fulfill the objectives of the Plan.

 

    	 

    	 

    

 

	 	h.	“Grant
    Agreement” – An agreement between the Company and a Participant that sets forth the terms, conditions and
    limitations applicable to a Grant.

 

	 	i.	“Option”
    – Either an Incentive Stock Option, in accordance with Section 422 of the Code, or a Nonstatutory Option, to purchase
    the Company’s Stock that may be awarded to a participant under the Plan. A Participant who receives an award of an Option
    shall be referred to as an “Optionee”.

 

	 	j.	“Participant”
    – A director, officer, employee or consultant of the Company to whom an Award has been made under the Plan.

 

	 	k.	“Restricted
    Stock Purchase Offer” – A Grant of the right to purchase a specified number of shares of Stock pursuant to
    a written agreement issued under the Plan.

 

	 	l.	“Securities
    Act” – The Securities Act of 1933, as amended from time to time.

 

	 	m.	“Stock”
    – Authorized and issued or unissued shares of common stock of the Company.

 

	 	n.	“Stock
    Award” – A Grant made under the Plan in stock or denominated in units of stock for which the Participant is
    not obligated to pay additional consideration.

 

	 	2.	Administration.

 

The
Plan shall be administered by the Board, provided however, that the Board may delegate such administration to the Committee. Subject
to the provisions of the Plan, the Board and/or the Committee shall have authority to (a) grant, in its discretion, Incentive
Stock Options in accordance with Section 422 of the Code, or Nonstatutory Options, Stock Awards or Restricted Stock Purchase Offers;
(b) determine in good faith the fair market value of the Stock covered by any Grant; (c) determine which eligible persons shall
receive Grants and number of shares, restrictions, terms, vesting schedule and conditions to be included in such Grants; (d) construe
and interpret the Plan; promulgate, amend and rescind rules and regulations relating to its administration, and correct defects,
omissions and inconsistencies in the Plan or any Grant; (e) consistent with the Plan and with the consent of the Participant,
as appropriate, amend any outstanding Grant including amending the exercise date or dates thereof; (f) determine the duration
and purpose of leaves of absence which may be granted to Participants without constituting termination of their employment for
the purpose of the Plan or any Grant; and (g) make all other determinations necessary or advisable for the Plan’s administration.
The interpretation and construction by the Board of any provisions of the Plan or selections of Participants shall be conclusive
and final. No member of the Board or the Committee shall be liable for any action or determination made in good faith with respect
to the Plan or any Grant made thereunder.

 

	 	3.	Eligibility.

 

	 	a.	General:
    The persons who shall be eligible to receive Grants shall be directors, officers, employees or consultants to the Company.
    The term consultant shall mean any person, other than an employee who is engaged by the Company to render services and is
    compensated for such services. An Optionee may hold more than one Option. Any issuance of a Grant to an officer or director
    of the Company subsequent to the first registration of any of the securities of the Company under the Exchange Act shall comply
    with the requirements of Rule 16b-3.

 

	 	b.	Incentive
    Stock Options: Incentive Stock Options may only be issued to employees of the Company. Incentive Stock Options may be
    granted to officers or directors, provided they are also employees of the Company. Payment of a director’s fee shall
    not be sufficient to constitute employment by the Company.

 

    	 

    	 

    

 

The
Company shall not grant an Incentive Stock Option under the Plan to any employee if such Grant would result in such employee holding
the right to exercise for the first time int eh any one calendar year, under all Incentive Stock Options granted under the Plan
or any other plan maintained by the Company, with respect to shares of Stock having an aggregate Fair Market Value, determined
as of the date of the Option is granted, in excess of $100,000. Should it be determined that an Incentive Stock Option granted
under the Plan exceeds such maximum for any reason other than a failure in good faith to value the Stock subject to such option,
the excess portion of such option shall be considered a Nonstatutory Option. To the extent the employee holds two (2) or more
such Options, the excess portion of such Options which become exercisable for the first time in the same calendar year, the foregoing
limitation on the exercisability of such Option as Incentive Stock Options under the Federal tax laws shall be applied on the
basis of the order in which such Options are granted. If, for any reason, an entire Option does not qualify as an Incentive Stock
Option by reason of exceeding such maximum, such Option shall be considered a Nonstatutory Option.

 

	 	c.	Nonstatutory
    Option: The provision of the foregoing Section 3(b) shall not apply to any Option designated as a “Nonstatutory
    Option” or which sets forth the intention of the parties that the Option be a Nonstatutory Option.

 

	 	d.	Stock
    Awards and Restricted Stock Purchase Offers: The provisions of this Section 3 shall not apply to any Stock Award or Restricted
    Stock Purchase Offer under the Plan.

 

	 	4.	Stock.

 

	 	a.	Authorized
    Stock: Stock subject to Grants may be either unissued or reacquired Stock.

 

	 	b.	Number
    of Shares: Subject to adjustment as provided in Section 5i of the Plan, the total number of shares of Stock which may
    be purchased or granted directly by Options, Stock Awards or Restricted Stock Purchase Offers, or purchased indirectly through
    exercise of Options granted under the Plan shall not exceed Seven million (7,000,000) shares. If any Grant shall be any reason
    terminate or expire, any shares allocated thereto but remaining unpurchased upon such expiration or termination shall again
    be available for Grants with respect thereto under the Plan as though no Grant had previously occurred with respect to such
    shares. Any shares of Stock issued pursuant to a Grant and repurchased pursuant to the terms thereof shall be available for
    future Grants as though not previously covered by a Grant.

 

	 	c.	Reservation
    of Shares: The Company shall reserve and keep available at all times during the term of the Plan such number of shares
    as shall be sufficient to satisfy the requirements of the Plan. If, after reasonable efforts, which efforts shall not include
    the registration of the Plan or Grants under the Securities Act, the Company is unable to obtain authority from any applicable
    regulatory body, which authorization is deemed necessary by legal counsel for the Company for the lawful issuance of shares
    hereunder, the Company shall be relieved of any liability with respect to its failure to issue and sell the shares for which
    such requisite authority was so deemed necessary unless and until such authority is obtained.

 

	 	d.	Application
    of Funds: The proceeds received by the Company from the sale of Stock pursuant to the exercise of Options or rights under
    Stock Purchase Agreement will be used for general corporate purposes.

 

	 	e.	No
    Obligation to Exercise: This issuance of Grant shall impose no obligation upon the Participant to exercise any rights
    under such Grant.

 

    	 

    	 

    

 

	 	5.	Terms
    and Conditions of Options.

 

Options
granted hereunder shall be evidenced by agreements between the Company and the respective Optionees, in such form and substance
as the Board or Committee shall from time to time approve. The form of Incentive Stock Option Agreement attached hereto as Exhibit
A and the three forms of a Nonstatutory Stock Option Agreement for employees, for directors and for consultants, attached hereto
as Exhibit B-1, Exhibit B-2 and Exhibit B-3, respectively, shall be deemed to be approved by the Board. Option agreements need
not be identical, and in each case may include such terms and provisions as the Board or Committee may determine, but all such
agreements shall be subject to and limited by the following terms and conditions:

 

	 	a.	Number
    of Shares: Each Option shall state the number of shares to which it pertains and the vesting schedule, if any.

 

	 	b.	Exercise
    Price: Each Option shall state the exercise price, which shall be determined as follows:

 

	 	i.	Any
    Incentive Stock Option granted to a person who at the time of the Option is granted owns (or is deemed to own pursuant to
    Section 424(d) of the Code) stock possessing more than ten percent (10%) of the total combined voting power or value of all
    classes of stock of the Company (“Ten Percent Holder”) shall have an exercise price of no less than 110%
    of Fair Market Value as of the date of grant; and

 

	 	ii.	Incentive
    Stock Options granted to a person who at the time of the Option is granted is not a Ten Percent Holder shall have an exercise
    price of no less than 100% of Fair Market Value as of the date of grant.

 

For
the purposes of this Section 5(b), the Fair Market Value shall be determined by the Board in good faith, which determination shall
be conclusive and binding; provided however, that if there is a public market for such Stock, the Fair Market Value per share
shall be the average of the bid and asked prices (or the closing price if such stock is listed on the NASDAQ National Market System
or Nasdaq Capital Market) on the date of grant of the Option, or if listed on a stock exchange, the closing price on such exchange
on such date of grant.

 

	 	c.	Medium
    and Time of Payment: The exercise price shall become immediately due upon exercise of the Option and shall be paid in
    cash or check made payable to the Company. Should the Company’s outstanding Stock be registered under Section 12(g)
    of the Exchange Act at the time the Option is exercised, then the exercise price may also be paid as follows:

 

	 	i.	in
    shares of Stock held by the Optionee for the requisite period necessary to avoid a charge to the Company’s earnings
    for financial reporting purposes and valued at Fair Market Value on the exercise date, or

 

	 	ii.	through
    a special sale and remittance procedure pursuant to which the Optionee shall concurrently provide irrevocable written instructions
    (a) to a Company designated brokerage firm to effect the immediate sale of the purchased shares and remit to the Company,
    out of the sale proceeds available on the settlement date, sufficient funds to cover the aggregate exercise price payable
    for the purchased shares plus all applicable Federal, state and local income and employment taxes required to be withheld
    by the Company by reason of such purchase and (b) to the Company to deliver the certificates for the purchased shares directly
    to such brokerage firm in order to complete the sale transaction.

 

    	 

    	 

    

 

At
the discretion of the Board, exercisable either at the time of Option grant or of Option exercise, the exercise price may also
be paid (i) by Optionee’s delivery of a promissory note in form and substance satisfactory to the Company and permissible
under the applicable laws and bearing interest at a rate determined by the Board in its sole discretion, but in no event less
than the minimum rate of interest required to avoid the imputation of compensation income to the Optionee under the Federal tax
laws, or (ii) in such other form of consideration permitted by the Nevada Revised Statute as may be acceptable to the Board.

 

	 	d.	Term
    and Exercise of Options: Any Option granted to an employee, consultant or director of the Company shall become exercisable
    over a period of no longer than ten (10) years or in the case of an Option granted to an Optionee who is a Ten Percent Holder
    at the time the Option is granted, the expiration of five (5) years from the date such Option was granted. Each Option shall
    be exercisable to the nearest whole share, in whole or in part, as the respective Option agreements may provide. During the
    lifetime of an Optionee, the Option shall be exercisable only by the Optionee and shall not be assignable or transferable
    by the Optionee, and no other person shall acquire any rights therein. such unexercised portion Agreement.

 

	 	e.	Termination
    of Status as Employee, Consultant or Director: If Optionee’s status as an employee shall terminate for any reason
    other than Optionee’s disability or death, then Optione e (or if the Optionee shall die after such termination, but
    prior to exercise, Optionee’s personal representative or the person entitled to succeed to the Option) shall have the
    right to exercise the portions of any of Optionee’s Incentive Stock Options which were exercisable as of the date of
    such termination, in whole or in part, not less than 30 days nor more than three (3) month after such termination (or, in
    the event of “termination for cause” as determined bythe applicable law relating to such Optionee, or by
    the terms of the Plan or the Option Agreement or employment agreement, the Option shall automatically terminate as of the
    termination of employment as to all shares covered by the Option).

 

With
respect to Nonstatutory Options granted to employees, directors or consultants, the Board may specify such period for exercise,
not less than 30 days after such termination (except that in the case of “termination for cause” or removal
of a director, the Option shall automatically terminate as of the termination of employment or services as to shares covered by
the Option, following termination of employment or services as the Board deems reasonable and appropriate). The Option may be
exercised only with respect to installments that the Optionee could have exercised at the date of termination of employment or
services, Nothing contained herein or in any Option granted pursuant hereto shall be construed to affect or restrict in any way
the right of the Company to terminate the employment or services of an Optionee with or without cause.

 

	 	f.	Disability
    of Optionee: If an Optionee is disabled (within the meaning of Section 22(e)(3) of the Code) at the time of termination,
    the three (3) month period set forth in Section 5(e) shall be period, as determined by the Board and set forth in the Option,
    of not less than six months nor more than one year after such termination.

 

    	 

    	 

    

 

	 	g.	Death
    of Optionee: If an Optionee dies while employed by, engaged as a consultant to, or serving as a Director of the Company,
    the portion of such Optionee’s Option which was exercisable at the date of death may be exercised, in whole or in part,
    by the estate of the descendent or by a person succeeding to the right to exercise such Option at any time within (i)
a period, as determined by the Board and set forth in the Option, of not less than six (6) months nor more than one (1) year after
Optionee’s death, or (ii) during the remaining term of the Option, whichever is the lesser. The Option may be so exercised
only with respect to installments exercisable at the time of Optionee’s death and not previously exercised by the Optionee.

 

	 	h.	Non-transferability
    of Option: No Option shall be transferable by the Optionee, except by will or by the laws of descent and distribution.

 

	 	i.	Recapitalization:
    Subject to any required action of shareholders, the number of shares of Stock covered by each outstanding Option, and
    the exercise price per share thereof set forth in each such Option, shall be proportionately adjusted for any increase or
    decrease in the number of issued shares of Stock of the Company resulting from a stock split, stock dividend, combination,
    subdivision or reclassification of shares, or the payment of stock dividend, or any other increase or decrease in the number
    of such shares affected without receipt of consideration by the Company; provided, however, the conversion of any convertible
    securities of the Company shall not be deemed to have been “effected without receipt of consideration”
    by the Company.

 

In
the event of a proposed dissolution or liquidation of the Company, a merger or consolidation in which the Company is not the surviving
entity, or a sale of all or substantially all of the assets or capital stock of the Company (collectively, a “Reorganization”),
unless otherwise provided by the Board, this Option shall terminate immediately prior to such date as is determined by the Board,
which date shall be no later than the consummation of such Reorganization. In such event, if the entity which shall be surviving
entity does not tender to Optionee an offer, for which it has no obligation to do so, to substitute for any unexercised Option
a stock option or capital stock of such surviving of such surviving entity, as applicable, which on an equitable basis shall provide
the Optionee with substantially the same economic benefit as such unexercised Option, then the Board may, in its sole discretion,
grant to Optionee, in its sole and absolute discretion and without obligation, the right for a period commencing thirty (30) days
prior to and ending immediately prior to the date determined by the Board pursuant thereto for termination of the Option or during
the remaining term of the Option, whichever is the lesser, to exercise any unexpired Option or Options without regard to the provisions
of Paragraph 5(d) of the Plan; provided, that any such right granted shall be granted to all Optionees not receiving an offer
to receive substitute options on a consistent basis, and provided further, that any such exercise shall be subject to the consummation
of such Reorganization.

 

Subject
to any required action of shareholders, if the Company shall be the surviving entity in any merger or consolidation, each outstanding
Option thereafter shall pertain to and apply to the securities to which a holder of shares of Stock equal to the shares subject
to the Option would have been entitled by reason of such merger or consolidation.

 

In
the event of a change in the Stock of the Company as presently constituted, which is limited to a change of all of its authorized
shares he shares resulting from any such change shall be deemed to be the Stock within the meaning of the Plan.

 

    	 

    	 

    

 

To
the extent that the foregoing adjustments relate to stock or securities of the Company, such adjustments shall be made by the
Board, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided in this Section
5(i), the Optionee shall have no rights by reason of any subdivision or consolidation of shares of stock of any class or the payment
of any stock dividend or any other increase or decrease in the number of shares of stock of any class, and the number or price
of shares of Stock subject to any Option shall not be affected by, and no adjustment shall be made by reason of, any dissolution,
liquidation, merger, consolidation or sale of assets or capital stock, or any issue by the Company of shares of stock of any class
or securities convertible into shares of stock of any class.

 

The
Grant of an Option pursuant to the Plan shall not effect in any way the right or power of the Company to make any adjustments,
reclassifications, reorganizations or changes in its capital or business structure or to merge, consolidate, dissolve, or liquidate
or to sell or transfer or any part of its business or assets.

 

	 	j.	Rights
    as a Shareholder: An Optionee shall have no rights as a shareholder with respect to any shares covered by an Option until
    the effective date of the issuance of the shares following exercise of such Option by Optionee. No adjustment shall be made
    for dividends (ordinary or extraordinary, whether in cash, securities or other property) or distributions or other rights
    for which the record date is prior to the date such stock certificate is issued, except as expressly provided in Section 5(i)
    hereof.

 

	 	k.	Modification,
    Acceleration, Extension, and Renewal of Options: Subject to the terms and conditions and within the limitations of the
    Plan, the Board may modify an Option, or, once an Option is exercisable, accelerate the rate at which it may be exercised,
    and may extend or renew outstanding Options granted under the Plan or accept the surrender of outstanding Options (to the
    extent not theretofore exercised) and authorize the granting of new Options in substitution for such Options, provided such
    action is permissible under Section 422 of the Code and the applicable laws. Notwithstanding the provisions of this Section
    5(k), however, no modification of an Option shall, without the consent of the Optionee, alter to the Optionee’s detriment
    or impair any rights or obligations under any Option theretofore granted under the Plan.

 

	 	l.	Exercise
    Before Exercise Date: At the discretion of the Board, the Option may, but need not, include a provision whereby the Optionee
    may elect to exercise all or any portion of the Option prior to the stated exercise date of the Option. Any shares so purchased
    prior to the stated exercise date shall be subject to repurchase by the Company upon termination of Optionee’s employment
    as contemplated by Section 5(n) hereof prior to the exercise date stated in the Option and such other restrictions and conditions
    as the Board or Committee may deem advisable.

 

	 	m.	Other
    Provisions: The Option agreements authorized under the Plan shall contain such other provisions, including, without limitation,
    restrictions upon the exercise of the Options, as the Board or the Committee shall deem advisable. Shares shall not be issued
    pursuant to the exercise of an Option, if the exercise of such Option or the issuance of shares thereunder would violate,
    in the opinion of legal counsel for the Company, the provisions of any applicable law or the rules or regulations of any applicable
    law or the rules or regulations of any applicable governmental or foregoing or the rules and regulations of any exchange upon
    which the shares of the Company are listed. Without limiting the generality of the foregoing, the exercise of each Option
    shall be subject to the condition that if at any time the Company shall determine that (i) the satisfaction of withholding
    tax or other similar liabilities, or (ii) the listing, registration or perfection of any exemption from any such withholding,
    listing, registration, qualification, consent or approval is necessary or desirable in connection with such exercise or the
    issuance of shares thereunder, then in any such event, such exercise shall not be effective unless such withholding, listing
    registration, qualification, consent, approval or exemption shall have been effected, obtained or perfected free of any conditions
    not acceptable to the Company.

 

    	 

    	 

    

 

	 	n.	Repurchase
    Agreement: The Board may, in its discretion, require as a condition to the Grant of an Option hereunder, that an Optionee
    execute an agreement with the Company, in form and substance satisfactory to the Board in its discretion (“Repurchase
    Agreement”), (i) restricting the Optionee’s right to transfer shares purchased under such Option without first
    offering such shares to the Company or another shareholder of the Company upon the same terms and conditions as provided therein;
    and (ii) providing that upon termination of Optionee’s employment with the Company, for any reason, the Company (or
    another shareholder of the Companyshall have the right at its discretion (or the discretion of such other shareholders) to
    purchase and/or redeem all such shares owned by the Optionee on the date of termination of his or her employment at a price
    equal to: (A)
the fair value of such shares as of such date of termination; or (B) if such repurchase right lapses at 20% of the number of shares
per year, the original purchase price of such shares, and upon terms of payment permissible under the applicable laws; provided
that in the case of Options or Stock Awards granted to officers, directors, consultants or affiliates of the Company, such repurchase
provision may be subject to additional or greater restrictions as determined by the Board or Committee.

 

	 	6.	Stock
    Awards and Restricted Stock Purchase Offers.

 

	 	a.	Types
    of Grants.

 

	 	i.	Stock
    Award. All or part of any Stock Award under the Plan may be subject to conditions established by the Board or the Committee,
    and set forth in the Stock Award Agreement, which may include, but are not limited to, continuous service with the Company,
    achievement of specific business objectives, increases in specified indices, attaining growth rates and other comparable measurements
    of Company performance. Such Awards may be based on Fair Market Value or other specified valuation.

 

	 	ii.	Restricted
    Stock Purchase Offer. A Grant of a Restricted Stock Purchase Offer under the Plan shall be subject to such (i) vesting
    contingencies related to the Participant’s continued association with the Company for a specified time and (ii) other
    specified conditions as the Board or Committee shall determine, in their sole discretion, consistent with the provisions of
    the Plan.

 

	 	b.	Conditions
    and Restrictions. Shares of Stock which Participants may receive as a Stock Award under a Stock Award Agreement or Restricted
    Stock Purchase Offer under a Restricted Stock Purchase Offer may include such restrictions as the Board or Committee, as applicable,
    shall determine, including restrictions on transfer, repurchase rights, right of first refusal, and forfeiture provisions.
    When transfer of Stock is so restricted or subject to forfeiture provisions it is referred to as “Restricted Stock”.
    Further, with Board or Committee approval, Stock Awards or Restricted Stock Purchase Offers may be deferred. The Board or
    Committee may permit selected Participants to elect to defer distributions of Stock Awards or Restricted Stock Purchase Offers
    in accordance with procedures established by the Board or Committee to assure that such deferrals comply with applicable requirements
    of the Code including, at the choice of Participants, the capability to make further deferrals for distribution after retirement.
    Any deferred distribution, whether elected by the Participant or specified by the Stock Award Agreement, Restricted Stock
    Purchase Offers or by the Board or Committee, may require the payment be forfeited in accordance with the provisions of Section
    6(c). Dividends or dividend equivalent rights may be extended to and made part of any Stock Award or Restricted Stock Purchase
    Offers denominated in Stock or units of Stock, subject to such terms, conditions and restrictions as the Board or Committee
    may establish.

 

    	 

    	 

    

 

	 	c.	Cancellation
    and Rescission of Grants. Unless the Stock Award Agreement or Restricted Stock Purchase Offer specifies otherwise, the
    Board or Committee, as applicable, may cancel any unexpired, unpaid, or deferred Grants at any time if the Participant is
    not in compliance with all other applicable provisions of the Stock Award Agreement or Restricted Stock Purchase Offer, the
    Plan and with the following conditions:

 

	 	i.	A
    Participant shall not render services for any organization or engage directly or indirectly in any business which, in the
    judgment of the chief executive officer of the Company or other senior officer designated by the Board or Committee, is or
    becomes competitive with the Company, or which organization or business, or the rendering of services to such organization
    or business, is or becomes otherwise prejudicial to or in conflict with the interests of the Company. For Participants whose
    employment has terminated, the judgment of the chief executive officer shall be based on the Participant’s position
    and responsibilities while employed by the Company, the Participant’s post-employment responsibilities and position
    with the other organization or business, the extent of past, current and potential competition or conflict between the Company
    and the other organization or business, the effect on the Company’s customers, suppliers and competitors and such other
    considerations as are deemed relevant given the applicable facts and circumstances. A Participant whose engagement by the
    Company has terminatedshall be free, however, to purchase as an investment or otherwise, stock or other securities of such
    organization or business so long as they are listed upon a recognized securities exchange or traded over-the-counter, and
    such investment does not represent a substantial investment to the Participant or a greater than ten percent (10%) equity
    interest in the organization or business.

 

	 	ii.	A
    Participant shall not, without prior written authorization from the Company, disclose to anyone outside the Company, or use
    in other than the Company’s business, any confidential information or material, as defined in the Company’s Proprietary
    Information and Invention Agreement or similar agreement regarding confidential information and intellectual property, relating
    to the business of the Company, acquired by the Participant either during or after employment with the Company.

 

	 	iii.	A
    Participant, pursuant to the Company’s Proprietary Information and Invention Agreement or similar agreement regarding
    intellectual property inventions, shall disclose promptly and assign to the Company all right, title and interest in any invention
    or idea, patentable or not, made or conceived by the Participant during employment by the Company, relating in any manner
    to the actual or anticipated business, research or development work of the Company and shall do anything reasonably necessary
    to enable the Company to secure a patent where appropriate in the United States and in foreign countries.

 

    	 

    	 

    

 

	 	iv.	Upon
    exercise, payment or delivery pursuant to a Grant, the Participant shall certify on a form acceptable to the Committee that
    he or she is in compliance with the terms and conditions of the Plan. Failure to comply with all of the provisions of this
    Section 6(c) prior to, or during the six months after, any exercise, payment or delivery pursuant to a Grant shall cause such
    exercise, payment or delivery to be rescinded. The Company shall notify the Participant in writing of any such rescission
    within 45 days of discovery by the Company’s Chief Executive Officer of Participant’s failure to comply with the
    provision of Section 6(c). Within ten days after receiving such a notice from the Company, the Participant shall pay to the
    Company the amount of any gain realized or payment received as a result of the rescinded exercise, payment or delivery pursuant
    to a Grant. Such payment shall be made either in cash or by returning to the Company the number of shares of Stock that the
    Participant received in connection with the rescinded exercise, payment or delivery.

 

	 	d.	Assignability

 

	 	i.	Except
    pursuant to Section 6(e)(iii) and except as set forth in Section 6(d)(ii), no Grant or any other benefit under the Plan shall
    be assignable or transferable, or payable to or exercisable by, anyone other than the Participant to whom it was granted.

 

	 	ii.	Where
    a Participant terminates employment and retains a Grant pursuant to Section 6(e)(ii) in order to assume a position with a
    governmental, charitable or educational institution, the Board or Committee, in its discretion and to the extent permitted
    by law, may authorize a third party (including but not limited to the trustee of a “blind” trust), acceptable
    to the applicable governmental or institutional authorities, the Participant and the Board or Committee, to act on behalf
    of the Participant with regard to such Awards.

 

 

	 	e.	Termination
    of Employment. If the employment or service to the Company of a Participant terminates, other than pursuant to any of
    the following provisions under this Section 6(e), all unvested, deferred and unpaid Grants shall be cancelled immediately,
    and vested Grants shall be exercisable for a period of 30-days after the date of such termination, unless the Grant Agreement
    provides otherwise:

 

	 	i.	Retirement
    Under a Company Retirement Plan. When a Participant’s employment terminates as a result of retirement in accordance
    with the terms of a Company retirement plan, the Board or Committee may permit Grants to continue in effect beyond the date
    of retirement in accordance with the applicable Grant Agreement and the exercisability and vesting of any such Grants may
    be accelerated.

 

	 	ii.	Rights
    in the Best Interests of the Company. When a Participant resigns from the Company or is terminated without cause and,
    in the judgment of the Board or Committee, the acceleration and/or continuation of outstanding Grants would be in the best
    interests of the Company, the Board or Committee may (i) authorize, where appropriate, the acceleration and/or continuation
    of all or any part of Grants issued prior to such termination and (ii) permit the exercise, vesting and payment of such Grants
    for such period as may be set forth in the applicable Grant Agreement, subject to earlier cancellation pursuant to Section
    6(c) [?] or at such time as the Board or Committee shall deem the continuation of all or any part of the Participant’s
    Grants are not in the Company’s best interest.

 

    	 

    	 

    

 

	 	iii.	Death
    or Disability of a Participant.

 

	 	1.	In
    the event of a Participant’s death, the Participant’s estate or beneficiaries shall have a period up to the expiration
    date specified in the Grant Agreement for the applicable stock award or stock purchase offer within which to receive or exercise
    any such outstanding Grant held by the Participant under such terms as may be specified in the applicable Grant Agreement.
    Rights to any such outstanding Grants shall pass by will or the laws of descent and distribution in the following order: (a)
    to beneficiaries so designated by the Participant; if none, then (b) to a legal representative of the Participant; if none,
    then (c) to the persons entitled thereto as determined by a court of competent jurisdiction. Grants so passing shall be made
    at such times and in such manner as if the Participant were living.

 

	 	2.	In
    the event a Participant is deemed by the Board or Committee to be unable to perform his or her usual duties by reason of mental
    disorder or medical condition which does not result from facts which would be grounds for termination for cause, Grants and
    rights to any such Grants may be paid to or exercised by the Participant, if legally competent, or a committee or other legally
    designated guardian or representative if the Participant is legally incompetent by virtue of such disability.

 

	 	3.	After
    the death or disability of a Participant, the Board or Committee may in its sole discretion at any time (1) terminate restrictions
    in Grant Agreements; (2) accelerate any or all installments and rights; and (3) instruct the Company to pay the total of any
    accelerated payments in a lump sum to the Participant, the Participant’s estate, beneficiaries or representative; notwithstanding
    that, in the absence of such termination of restrictions or acceleration of payments, any or all of the payments due under
    the Grant might ultimately have become payable to other beneficiaries.

 

	 	4.	In
    the event of uncertainty as to interpretation of or controversies concerning this Section 6, the determinations of the Board
    or Committee, as applicable, shall be binding and conclusive.

 

	 	7.	Investment
    Intent.

 

All
Grants under the Plan are intended to be exempt from registration under the Securities Act provided by Section 4(2) thereunder.
Unless and until the granting of Options or sale and issuance of Stock subject to the Plan are registered under the Securities
Act or shall be exempt pursuant to the rules promulgated thereunder, each Grant under the Plan shall provide that the purchases
or other acquisitions of Stock thereunder shall be for investment purposes and not with a view to, or for resale in connection
with, any distribution thereof. Further, unless the issuance and sale of the Stock have been registered under the Securities Act,
each Grant shall provide that no shares shall be purchased upon the exercise of the rights under such Grant unless and until (i)
all then applicable requirements of state and federal laws and regulatory agencies shall have been fully complied with to the
satisfaction of the Company and its counsel, and (ii) if requested to do so by the Company, the person exercising the rights under
the Grant shall (i) give written assurances as to knowledge and experience of such person (or a representative employed by such
person) in financial and business matters and the ability of such person (or representative) to evaluate the merits and risks
of exercising the Option, and (ii) execute and deliver to the Company a letter of investment intent and/or such other form related
to applicable exemptions from registration, all in such form and substance as the Company may require. If shares are issued upon
exercise of any rights under a Grant without registration under the Securities Act, subsequent registration of such shares shall
relieve the purchaser thereof of any investment restrictions or representations made upon the exercise of such rights.

 

    	 

    	 

    

 

	 	8.	Amendment,
    Modification, Suspension or Discontinuance of the Plan.

 

The
Board may, insofar as permitted by law, from time to time, with respect to any shares at the time not subject to outstanding Grants,
suspend or terminate the Plan or revise or amend it in any respect whatsoever, except that without the approval of the shareholders
of the Company, no such revision or amendment shall (i) increase the number of shares subject to the Plan, (ii) decrease the price
at which Grants may be granted, (iii) materially increase the benefits to Participants, or (iv) change the class of persons eligible
to receive Grants under the Plan; provided, however, no such action shall alter or impair the rights and obligations under any
Option, or Stock Award, or Restricted Stock Purchase Offer outstanding as of the date thereof without the written consent of the
Participant thereunder. No Grant may be issued while the Plan is suspended or after it is terminated, but the rights and obligations
under any Grant issued while the Plan is in effect shall not be impaired by suspension or termination of the Plan.

 

In
the event of any change in the outstanding Stock by reason of a stock split, stock dividend, combination or reclassification of
shares, recapitalization, merger, or similar event, the Board or the Committee may adjust proportionally (a) the number of shares
of Stock (i) reserved under the Plan, (ii) available for Incentive Stock Options and Nonstatutory Options and (iii) covered by
outstanding Stock Awards or Restricted Stock Purchase Offers; (b) the Stock prices related to outstanding Grants; and (c) the
appropriate Fair Market Value and other price determinations for such Grants. In the event of any other change affecting the Stock
or any distribution (other than normal cash dividends) to holders of Stock, such adjustments as may be deemed equitable by the
Board or the Committee, including adjustments to avoid fractional shares, shall be made to give proper effect to such event. In
the event of a corporate merger, consolidation, acquisition of property or stock, separation, reorganization or liquidation, the
Board or the Committee shall be authorized to issue or assume stock options, whether or not in a transaction to which Section
424(a) of the Code applies, and other Grants by means of substitution of new Grant Agreements for previously issued Grants or
an assumption of previously issued Grants.

 

	 	9.	Tax
    Withholding.

 

The
Company shall have the right to deduct applicable taxes from any Grant payment and withhold, at the time of delivery or exercise
of Options, Stock Awards or Restricted Stock Purchase Offers or vesting of shares under such Grants, an appropriate number of
shares for payment of taxes required by law or to take such other action as may be necessary in the opinion of the Company to
satisfy all obligations for withholding of such taxes. If Stock is used to satisfy tax withholding, such stock shall be valued
based on the Fair Market Value when the tax withholding is required to be made.

 

Notwithstanding
anything herein to the contrary, the terms and conditions of this Plan may be supplemented or amended with respect to a particular
country or tax regime by means of an appendix to this Plan, and to the extent that the terms and conditions set forth in any appendix
conflict with any provisions of this Plan, the provisions of such appendix shall govern. Terms and conditions set forth in such
appendix shall apply only to Grants granted to Participants under the jurisdiction of the specific country or such other tax regime
that is the subject of such appendix and shall not apply to Grants issued to a Participant not under the jurisdiction of such
country or such other tax regime. The adoption of any such appendix shall be subject to the approval of the Board or the Committee,
and if determined by the Committee to be required in connection with the application of certain tax treatment, pursuant to applicable
stock exchange rules or regulations or otherwise, then also the approval of the stockholders of the Company at the required majority.

 

    	 

    	 

    

 

	 	10.	Availability
    of Information.

 

During
the term of the Plan and any additional period during which a Grant granted pursuant to the Plan shall be exercisable, the
Company shall make available, not later than one hundred and twenty (120) days following the close of each of its fiscals
years, such financial and other information regarding the Company as is required by the bylaws of the Company and applicable
law to be furnished in an annual report to the shareholders of the Company.

 

	 	11.	Notice

 

Any
written notice to the Company required by any of the provisions of the Plan shall be addressed to the chief executive office of
the Company, and. Shall become effective when it is received by the office of the chief executive officer.

 

	 	12.	Indemnification
    of Board

 

In
addition to such other rights or indemnifications as they may have as directors or otherwise, and to the extent allowed by applicable
law, the members of the Board and the Committee shall be indemnified by the Company against the reasonable expenses, including
attorneys’ fees, actually and necessarily incurred in connection with the defense of any claim, action, suit or proceeding,
or in connection with any appeal thereof, to which they or any of them may be a party by reason of any action taken, or failure
to act, under or in connection with the Plan or any Grant granted thereunder, and against all amounts paid by them in settlement
thereof (provided such settlement is approved by independent legal counsel selected by the Company) or paid by them in satisfaction
of a judgment in any such claim, action, suit or proceeding, except in any case in relation to matters as to which it shall be
adjudged in such claim, action, suit or proceeding that such Board or Committee member is liable for negligence or misconduct
in the performance of his or her duties; provided that within sixty (60) days after institution of any such action, suit or Board
proceeding the member involved shall offer the Company, in writing, the opportunity, at its own expense, to handle and defend
the same.

 

	 	13.	Governing
    Law.

 

The
Plan and all determinations made and actions taken pursuant hereto, to the extent not otherwise governed by the Code or the Securities
Laws of the United States, shall be governed by the law of the State of Nevada and construed accordingly.

 

	 	14.	Effective
    and Termination Dates.

 

The
Plan shall become effective upon adoption by the Board, subject to approval within twelve (12) months by the shareholders of the
Company. Unless and until this Plan has been approved by the stockholders of the Company no Option or Stock Award may be exercised,
and no shares of common stock of the Company may be issued under this Plan. In the event that the stockholders of the Company
shall not approve this Plan within such twelve (12) month period, this Plan and any previously granted Options or Stock Awards
shall terminate.

 

Unless
previously terminated, this Plan will terminate ten (10) years after the date this Plan is adopted by the Board, except that Awards
that granted under this Plan prior to its termination will continue to be administered under the terms of this Plan until the
Awards terminate, expire or are exercised.

 

[SIGNATURE
PAGE TO FOLLOW]

 

    	 

    	 

    

 

The
foregoing 2020 Incentive Stock Plan was duly adopted and approved by the Board of Directors on December 23, 2020.

 

	 	INTERNATIONAL DISPLAY ADVERTISING, INC

                                                                     A Nevada corporation

	 	 	 
	 	By:	                     
	 	Name:	Yoram
    Drucker
	 	Title:	Chief
    Executive Officer

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