Document:

Exhibit 10.2

 

AMERICAN BRIVISION (HOLDING) CORPORATION

 

Promissory
Note

 

	Principal Amount: $2,500,000 U.S. Dollars	Issuance Date: October 23, 2020

 

FOR VALUE RECEIVED,
American BriVision (Holding) Corporation, a Nevada corporation (the “Company”), hereby promises to pay to the
order of [HOLDER] or its registered assigns (“Holder”) the amount set out above as the Principal Amount (the
“Principal”) when due, whether upon the Maturity Date (as defined below) or earlier in accordance with the terms
hereof, and to pay interest (“Interest”) on any outstanding Principal at the applicable Interest Rate (as defined
below) from the date set out above as the Issuance Date (the “Issuance Date”) until the same becomes due and
payable, whether upon the Maturity Date, acceleration or otherwise (in each case in accordance with the terms hereof).This Promissory
Note, including all Promissory Notes issued in exchange, transfer or replacement hereof, is referred to as this “Note”.
Certain capitalized terms used herein are defined in Section 20.

 

1. PAYMENTS OF PRINCIPAL.
Subject to the conversion of the Note as described in Section 5, the Company shall pay to the Holder an amount in cash representing
all outstanding Principal and accrued and unpaid Interest on October 23, 2022, the twenty-four (24) month anniversary of the Issuance
Date (the “Maturity Date”).

 

2. INTEREST RATE.
Interest shall accrue on the unpaid principal balance of this Note at the rate of ten percent (10%) per annum (the “Interest
Rate”). Interest shall be calculated from and include the Issuance Date and shall be calculated on an actual/360-day
basis and shall be payable on a quarterly basis.

 

3. RIGHTS UPON EVENT
OF DEFAULT.

 

(a) Event
of Default. Each of the following events shall constitute an “Event of Default”:

 

(i) the
Company’s failure to pay to the Holder any amount of Principal, Interest, or other amounts when and as due under this Note
or any other Transaction Document or any other agreement, document, certificate or other instrument delivered in connection with
the transactions contemplated hereby and thereby, except, in the case of a failure to pay Interest when and as due, in which case
only if such failure remains uncured for a period of at least five (5) days from the date when a written notice regarding the failure
to pay Interest is given by the Holder of the Note;

 

(ii) bankruptcy,
insolvency, reorganization or liquidation proceedings or other proceedings for the relief of debtors shall be instituted by or
against the by a third party, shall not be dismissed within thirty (30) days of their initiation;

 

(iii) the
commencement by the Company of a voluntary case or proceeding under any applicable federal, state or foreign bankruptcy, insolvency,
reorganization or other similar law or of any other case or proceeding to be adjudicated as bankrupt or insolvent, or the consent
by it to the entry of a decree, order, judgment or other similar document in respect of the Company in an involuntary case or proceeding
under any applicable federal, state or foreign bankruptcy, insolvency, reorganization or other similar law or to the commencement
of any bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking reorganization
or relief under any applicable federal, state or foreign law, or the consent by it to the filing of such petition or to the appointment
of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the
Company or of any substantial part of their properties, or the making by it of an assignment for the benefit of creditors, or the
execution of a composition of debts, or the occurrence of any other similar federal, state or foreign proceeding, or the admission
by it in writing of its inability to pay its debts generally as they become due, the taking of corporate action by the Company
in furtherance of any such action or the taking of any action by any Person to commence a UCC foreclosure sale or any other similar
action under federal, state or foreign law;

 

     

     

    

 

(iv) the
entry by a court of (i) a decree, order, judgment or other similar document in respect of the Company of a voluntary or involuntary
case or proceeding under any applicable federal, state or foreign bankruptcy, insolvency, reorganization or other similar law or
(ii) a decree, order, judgment or other similar document adjudging the as bankrupt or insolvent, or approving as properly filed
a petition seeking liquidation, reorganization, arrangement, adjustment or composition of or in respect of the Company under any
applicable federal, state or foreign law or (iii) a decree, order, judgment or other similar document appointing a custodian, receiver,
liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of their property,
or ordering the winding up or liquidation of its affairs, and the continuance of any such decree, order, judgment or other similar
document or any such other decree, order, judgment or other similar document unstayed and in effect for a period of thirty (30)
consecutive days;

 

(v) other
than as specifically set forth in another clause of this Section 3(a), the Company breaches any representation, warranty, covenant
or other term or condition of any Transaction Document, except, in the case of a breach of a covenant or other term or condition
that is curable, only if such breach remains uncured for a period of five (5) consecutive Business Days from the date when a written
notice of such breach is provided;

 

(b) Notice
of an Event of Default. As soon as possible and in any event within seven (7) days after the Company becomes aware that an
Event of Default has occurred and has not been cured, the Company shall notify the Holder in writing of the nature, extent and
time of and the facts surrounding such Event of Default, and the action, if any, that the Company proposes to take with respect
to such Event of Default.

 

(c) Acceleration
of Maturity Date. Upon the occurrence of an Event of Default, the entire unpaid and outstanding Principal plus any accrued
and unpaid Interest shall be immediately due and payable.

 

4. NONCIRCUMVENTION.
The Company hereby covenants and agrees that the Company will not, by amendment of its Certificate of Incorporation, or through
any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities,
or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Note, and will
at all times in good faith carry out all of the provisions of this Note and take all action as may be required to protect the rights
of the Holder of this Note.

 

5. PREPAYMENT;
CONVERSION.

 

(a) Voluntary
Prepayment. The Company may prepay the outstanding Principal and accrued but unpaid interest of this Note at any time, in whole
or in part, without penalty or prepayment.

 

(b) Conversion.
At any time during the Conversion Period as defined below, the Holder may convert the unpaid and outstanding Principal into shares
of the Company’s common stock at a fixed conversion price equal to $2.25 per share of Common Stock (the “Conversion
Price”). The Conversion Period shall commence on the Issuance Date and end on the Maturity Date of this Note.

 

(c) Mechanics
of Conversion.

 

i. Conversion
Shares Issuable Upon Conversion. The number of shares issuable upon a conversion (the “Conversion Shares”)
pursuant to Section 5(b) hereunder shall be determined by the quotient obtained by dividing the outstanding principal amount of
this Note and accrued but unpaid interest thereon to be converted by (y) the Conversion Price.

 

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ii. Delivery
of Certificate Upon Conversion. Not later than seven (7) Business Days after each conversion date (the “Share Delivery
Date”), the Company shall deliver, or cause to be delivered, to the Holder a certificate or certificates representing
the Conversion Shares being acquired upon the conversion of this Note, in whole or in part.

 

iii. Fractional
Shares. No fractional shares or scrip representing fractional shares shall be issued upon the conversion of this Note. As to
any fraction of a share which the Holder would otherwise be entitled to receive upon such conversion, the Company shall at its
election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the
Conversion Price or round up to the next whole share.

 

(d) Certain
Adjustments.

 

i. Stock
Dividends and Stock Splits. If the Company, at any time while this Note is outstanding: (i) subdivides outstanding shares of
common stock into a larger number of shares, (ii) combines (including by way of a reverse stock split) outstanding shares of common
stock into a smaller number of shares or (iii) issues, in the event of a reclassification of shares of the common stock, any shares
of capital stock of the Company, then the Fixed Conversion Price shall be multiplied by a fraction of which the numerator shall
be the number of shares of common stock (excluding any treasury shares of the Company) outstanding immediately before such event,
and of which the denominator shall be the number of shares of common stock outstanding immediately after such event. Any adjustment
made pursuant to this Section shall become effective immediately after the record date for the determination of stockholders entitled
to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision,
combination or re-classification.

 

ii. Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 5(d)(i) above, if at any time while the Note is outstanding
the Company grants, issues or sells any common stock equivalents or rights to purchase stock, warrants, securities or other property
pro rata to the record holders of any class of shares of common stock (the “Purchase Rights”), then the Holder
will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder
could have acquired if the Holder had held the number of shares of common stock acquirable upon complete conversion of this Note
(without regard to any limitations on exercise hereof) immediately before the date on which a record is taken for the grant, issuance
or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock
are to be determined for the grant, issue or sale of such Purchase Rights.

 

iii. Pro
Rata Distributions. During such time as this Note is outstanding, if the Company shall declare or make any dividend or other
distribution of its assets (or rights to acquire its assets) to holders of shares of common stock, by way of return of capital
or otherwise (including, without limitation, any distribution of cash, property or options by way of a dividend, spin off, reclassification,
corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time
after the issuance of this Note, then, in each such case, the Holder shall be entitled to participate in such Distribution to the
same extent that the Holder would have participated therein if the Holder had held the number of shares of common stock acquirable
upon complete exercise of this Note (without regard to any limitations on exercise hereof) immediately before the date of which
a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common
Stock are to be determined for the participation in such Distribution.

 

iv. Calculations.
All calculations under this Section 5(d) shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 5(d), the number of shares of common stock deemed to be issued and outstanding as of a given date
shall be the sum of the number of shares of common stock (excluding any treasury shares of Borrower) issued and outstanding.

 

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v. Notice
of Adjustment to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any provision of this Section, the
Company shall promptly deliver to each Holder a notice setting forth the Fixed Conversion Price with three (3) Business Days after
such adjustment and setting forth a brief statement of the facts requiring such adjustment. Failure to provide such notice shall
constitute an Event of Default, subject to be a three (3) Business Days’ curing period.

 

6. COVENANTS.
Until so long as no Principal or accrued but unpaid interest remains outstanding:

 

(a) Preservation
of Existence. The Company shall maintain and preserve its existence, rights and privileges, and become or remain duly qualified
and in good standing in each jurisdiction in which the character of the properties owned or leased by it or in which the transaction
of its business makes such qualification necessary.

 

(b) Use
of Proceeds. The proceeds from this Note will be used for legal, accounting, due diligence and other costs and expenses incurred
in connection with the proposed uplisting with the Securities and Exchange Commission, Nasdaq application; and for general working
capital, and for research and development purposes.

 

 

7. Conversion Limitation.
The Company shall not effect any conversion of this Note, and a Holder shall not have the right to convert any portion of this
Note, to the extent that after giving effect to the conversion set forth on the applicable Notice of Conversion, the Holder (together
with the Holder’s Affiliates, and any Persons acting as a group together with the Holder or any of the Holder’s Affiliates)
would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence,
the number of shares of Common Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of
Common Stock issuable upon conversion of this Note with respect to which such determination is being made, but shall exclude the
number of shares of Common Stock which are issuable upon (i) conversion of the remaining, unconverted principal amount of this
Note beneficially owned by the Holder or any of its Affiliates and (ii) exercise or conversion of the unexercised or unconverted
portion of any other securities of the Company subject to a limitation on conversion or exercise analogous to the limitation contained
herein beneficially owned by the Holder or any of its Affiliates. Except as set forth in the preceding sentence, for purposes of
this Section, beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations
promulgated thereunder. To the extent that the limitation contained in this Section applies, the determination of whether this
Note is convertible (in relation to other securities owned by the Holder together with any Affiliates) and of which principal amount
of this Note is convertible shall be in the sole discretion of the Holder, and the submission of a Notice of Conversion shall be
deemed to be the Holder’s determination of whether this Note may be converted (in relation to other securities owned by the
Holder together with any Affiliates) and which principal amount of this Note is convertible, in each case subject to the Beneficial
Ownership Limitation. To ensure compliance with this restriction, the Holder will be deemed to represent to the Company each time
it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph
and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination
as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules
and regulations promulgated thereunder. For purposes of this Section, in determining the number of outstanding shares of Common
Stock, the Holder may rely on the number of outstanding shares of Common Stock as stated in the most recent of the following: (i)
the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (ii) a more recent public
announcement by the Company, or (iii) a more recent written notice by the Company or the Company’s transfer agent setting
forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within
two Trading Days confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. In any case,
the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities
of the Company, including this Note, by the Holder or its Affiliates since the date as of which such number of outstanding shares
of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% of the number of shares of
the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon conversion
of this Note held by the Holder. The Holder, upon not less than 61 days’ prior notice to the Company, may increase or decrease
the Beneficial Ownership Limitation provisions of this Section, provided that the Beneficial Ownership Limitation in no event exceeds
9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common
Stock upon conversion of this Note held by the Holder and the Beneficial Ownership Limitation provisions of this Section shall
continue to apply. Any such increase or decrease will not be effective until the 61st day after such notice is delivered
to the Company. The Beneficial Ownership Limitation provisions of this paragraph shall be construed and implemented in a manner
otherwise than in strict conformity with the terms of this Section to correct this paragraph (or any portion hereof) which may
be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein or to make changes or supplements
necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a
successor holder of this Note.

 

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8. AMENDING THE
TERMS OF THIS NOTE. The prior written consent of the Holder shall be required for any change or amendment to this Note.

 

9. TRANSFER.
This Note may be offered, sold, assigned or transferred by the Holder with the written consent of the Company, which such consent
shall not be unreasonably withheld.

 

10. REISSUANCE OF
THIS NOTE.

 

(a) Transfer.
If this Note is to be transferred, the Holder shall surrender this Note to the Company, whereupon the Company will forthwith issue
and deliver upon the order of the Holder a new Note (in accordance with Section 10(d)), registered as the Holder may request, representing
the outstanding Principal being transferred by the Holder and, if less than the entire outstanding Principal is being transferred,
a new Note (in accordance with Section 10(d)) to the Holder representing the outstanding Principal not being transferred. The Holder
and any assignee, by acceptance of this Note, acknowledge and agree that, by reason of prepayment of any portion of this Note,
the outstanding Principal represented by this Note may be less than the Principal stated on the face of this Note.

 

(b) Lost,
Stolen or Mutilated Note. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft,
destruction or mutilation of this Note (as to which a written certification and the indemnification contemplated below shall suffice
as such evidence), and, in the case of loss, theft or destruction, of any indemnification undertaking by the Holder to the Company
in customary and reasonable form and, in the case of mutilation, upon surrender and cancellation of this Note, the Company shall
execute and deliver to the Holder a new Note (in accordance with Section 10(d)) representing the outstanding Principal.

 

(c) Note
Exchangeable for Different Denominations. This Note is exchangeable, upon the surrender hereof by the Holder at the principal
office of the Company, for a new Note or Notes (in accordance with Section 10(d) and in principal amounts of at least $1,000) representing
in the aggregate the outstanding Principal of this Note, and each such new Note will represent such portion of such outstanding
Principal as is designated by the Holder at the time of such surrender.

 

(d) Issuance
of New Notes. Whenever the Company is required to issue a new Note pursuant to the terms of this Note, such new Note (i) shall
be of like tenor with this Note, (ii) shall represent, as indicated on the face of such new Note, the Principal remaining outstanding
(or in the case of a new Note being issued pursuant to Section 10(a) or Section 10(c), the Principal designated by the Holder which,
when added to the principal represented by the other new Notes issued in connection with such issuance, does not exceed the Principal
remaining outstanding under this Note immediately prior to such issuance of new Notes), (iii) shall have an issuance date, as indicated
on the face of such new Note, which is the same as the Issuance Date of this Note, (iv) shall have the same rights and conditions
as this Note, and (v) shall represent accrued and unpaid Interest, from the Issuance Date.

 

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11. REMEDIES, CHARACTERIZATIONS,
OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF. The remedies provided in this Note shall be cumulative and in addition to
all other remedies available under this Note and any of the other Transaction Documents at law or in equity (including a decree
of specific performance and/or other injunctive relief), and nothing herein shall limit the Holder’s right to pursue actual
and consequential damages for any failure by the Company to comply with the terms of this Note.

 

12. Reserved.

 

13. CONSTRUCTION;
HEADINGS. This Note shall be deemed to be jointly drafted by the Company and the Holder and shall not be construed against
any Person as the drafter hereof. The headings of this Note are for convenience of reference and shall not form part of, or affect
the interpretation of, this Note. Terms used in this Note but defined in the other Transaction Documents shall have the meanings
ascribed to such terms on the Closing Date in such other Transaction Documents unless otherwise consented to in writing by the
Holder.

 

14. FAILURE OR INDULGENCE
NOT WAIVER. No failure or delay on the part of the Holder in the exercise of any power, right or privilege hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further
exercise thereof or of any other right, power or privilege. No waiver shall be effective unless it is in writing and signed by
an authorized representative of the waiving party.

 

15. NOTICES; CURRENCY;
PAYMENTS.

 

(a) Notices. Any notice
or other communication required or permitted to be given hereunder shall be in writing sent by mail, facsimile with printed confirmation,
nationally recognized overnight carrier or personal delivery and shall be effective upon actual receipt of such notice, to the
following addresses until notice is received that any such address or contact information has been changed:

 

		To the Company:	American Brivision (Holding) Corporation,

44370 Old Warm
Springs Blvd.

Fremont, CA
94538

 

To Holder:

 

(b) Currency.
All dollar amounts referred to in this Note are in United States Dollars (“U.S. Dollars”), and all amounts owing
under this Note shall be paid in U.S. Dollars. All amounts denominated in other currencies (if any) shall be converted in the U.S.
Dollar equivalent amount in accordance with the Exchange Rate on the date of calculation (each, a “US Dollar Equivalent”).
“Exchange Rate” means, in relation to any amount of currency to be converted into U.S. Dollars pursuant to this
Note, the U.S. Dollar exchange rate as published in the Wall Street Journal on the relevant date of calculation (it being understood
and agreed that where an amount is calculated with reference to, or over, a period of time, the date of calculation shall be the
final date of such period of time).

 

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(c) Payments.
Whenever any payment of cash is to be made by the Company to any Person pursuant to this Note, unless otherwise expressly set forth
herein, such payment shall be made in lawful money of the United States of America by a certified check drawn on the account of
the Company and sent via overnight courier service to such Person at such address as previously provided to the Company in writing
(which address, in the case of each of the Purchasers, shall initially be as set forth in the Securities Purchase Agreement), provided
that the Holder may elect to receive a payment of cash via wire transfer of immediately available funds by providing the Company
with prior written notice setting out such request and the Holder’s wire transfer instructions. Whenever any amount expressed
to be due by the terms of this Note is due on any day which is not a Business Day, the same shall instead be due on the next succeeding
day which is a Business Day.

 

16. CANCELLATION.
After all Principal, accrued Interest, and other amounts at any time owed on this Note have been paid in full or converted in full,
this Note shall automatically be deemed canceled, shall be surrendered to the Company for cancellation and shall not be reissued.

 

17. WAIVER OF NOTICE.
To the extent permitted by law, the Company hereby irrevocably waives demand, notice, presentment, protest and all other demands
and notices in connection with the delivery, acceptance, performance, default or enforcement of this Note.

 

18.
GOVERNING LAW. This Note shall be governed by and construed in accordance with the laws of the State of New York, without
giving effect to its principles regarding conflicts of law. Each party agrees that all legal proceedings concerning the interpretation,
enforcement and defense of the transactions contemplated by any of the Transaction Documents (whether brought against a party hereto
or its respective Affiliates, directors, officers, shareholders, employees or agents) shall be commenced in the state and federal
courts sitting in the City of New York, Borough of Manhattan).

 

19. MAXIMUM PAYMENTS.
Nothing contained herein shall be deemed to establish or require the payment of a rate of interest or other charges in excess of
the maximum permitted by applicable law. In the event that the rate of interest required to be paid or other charges hereunder
exceed the maximum permitted by such law, any payments in excess of such maximum shall be credited against amounts owed by the
Company to the Holder and thus refunded to the Company.

 

20. CERTAIN DEFINITIONS.
For purposes of this Note, the following terms shall have the following meanings:

 

(a)
“Affiliate” means any Person that, directly or indirectly through one or more intermediaries, controls or is
controlled by or is under common control with a Person, as such terms are used in and construed under Rule 405 under the Securities
Act.

 

(b)
“Business Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City
of New York are authorized or required by law to remain closed.

 

(c)
“Maturity Date” shall mean the six (6) months anniversary after the Issuance Date.

 

(d)
“Person” means “person” as such term is used for purposes of Section 13(d) or 14(d) of the Securities
Exchange Act of 1934, as amended, including any individual, corporation, limited liability company, partnership, trust, unincorporated
organization, government or any agency or political subdivision thereof, or any other entity or any group of persons.

 

(e)
“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

(f)
“Transaction Documents” means, collectively, the Notes, the Securities Purchase Agreement and any other agreements
and instruments entered into or delivered by any of the parties hereto in connection with the transactions contemplated hereby
and thereby, as may be amended from time to time.

 

[signature page follows]

 

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IN WITNESS WHEREOF,
the Company has caused this Note to be duly executed as of the Issuance Date set out above.

 

	 	American BriVision (Holding) Corporation
	 	 	 
	 	By:	 
	 	Name: 	Howard Doong
	 	Title:	Chief Executive Officer

 

 

8Document

Exhibit 10.1

AMENDMENT

TO

CARROLS RESTAURANT GROUP, INC.

2016 STOCK INCENTIVE PLAN

AMENDMENT (this “Amendment”) to the Carrols Restaurant Group, Inc. 2016 Stock Incentive Plan (the “Plan”). Capitalized terms used herein but not defined herein shall have the meanings ascribed thereto in the Plan.

WHEREAS, the Board of Directors (the “Board”) of Carrols Restaurant Group, Inc., a Delaware corporation (the “Company”), previously adopted the Plan, which was approved by the stockholders of the Company;

        WHEREAS, the third paragraph of Section 3 of the Plan provides that subject to adjustment as provided in Section 3 of the Plan, the maximum number of shares of Stock that may be covered by Stock Options, Stock Appreciation Rights, and Stock Awards, in the aggregate, to any one Participant during any calendar year shall be 275,000 shares and with respect to Performance Awards, no Covered Employee shall be granted a Performance Award which (a) could result in such Covered Employee receiving more than 275,000 shares of Stock during any calendar year or (b) could result in such Covered Employee receiving more than $1,000,000 during any calendar year;

        WHEREAS, the third paragraph of Section 3 of the Plan and the limitation set forth therein are included in the Plan to comply with Section 162(m) of the Code ("Section 162(m)") to permit the Company to treat Performance Awards, Stock Options and Stock Appreciation Rights as “qualified performance-based compensation” for purposes of Section 162(m), thus excluding such awards from the tax deductions limits on compensation paid to of certain executive officers of the Company in excess of $1,000,000 during any taxable year;

        WHEREAS, the Tax Cuts and Jobs Act of 2017 removed the “qualified performance-based compensation" exception from Section 162(m);

WHEREAS, the Company desires to amend the Plan to remove the third paragraph of Section 3 of the Plan and all references to such limitation set forth therein;

WHEREAS, pursuant to Section 11(b) of the Plan, the Board may amend the Plan; and

WHEREAS, all terms and conditions of the Plan, other than as specifically amended as set forth in this Amendment, shall remain in full force and effect;

NOW THEREFORE, the Plan has been amended as follows:

1
54485042;3

Exhibit 10.1

1.  Section 3 of the Plan is hereby amended and restated in its entirety as follows:

"3.     STOCK SUBJECT TO PLAN

Subject to adjustment as provided in this Section 3, the aggregate number of shares of Stock which may be delivered under the Plan shall not exceed 4,000,000 shares.

To the extent any shares of Stock covered by an Award are not delivered to a Participant or beneficiary thereof because the Award expires, is forfeited, lapses without exercise, canceled or otherwise terminated, any shares of Restricted Stock (as defined in Section 9) are forfeited, such shares shall not be deemed to have been delivered for purposes of determining the maximum number of shares of Stock available for delivery under the Plan with respect to, and shall be available for, future grants of Awards. Notwithstanding the preceding sentence, shares of stock used to pay the exercise price or withholding taxes related to an outstanding Award shall be treated as issued under the Plan and may not again be made available for issuance as Awards under the Plan. Any Stock Appreciation Right awarded under the Plan will count as granted and not as settled if settled in Stock.

In the event of any Company stock dividend, special cash dividend, stock split, combination or exchange of shares, recapitalization or other change in the capital structure of the Company, corporate separation or division of the Company (including, but not limited to, a split-up, spin-off, split-off or other distribution to Company stockholders, other than a normal cash dividend), sale by the Company of all or a substantial portion of its assets (measured on either a stand-alone or consolidated basis), reorganization, rights offering, partial or complete liquidation, merger or consolidation in which the Company is the surviving corporation, or any other corporate transaction, Company share offering or other event involving the Company and having an effect similar to any of the foregoing, the Administrator may make such substitution or adjustments in the (a) number and kind of shares that may be delivered under the Plan, (b) number and kind of shares subject to outstanding Awards, (c) exercise price of outstanding Stock Options, Outside Director Stock Options, and Stock Appreciation Rights and (d) other characteristics or terms of the Awards as it may determine appropriate in its sole discretion to equitably reflect such corporate transaction, share offering or other event; provided, however, that the number of shares subject to any Award shall always be a whole number and any fractional share resulting from an adjustment or substitution provided for hereunder shall be rounded up to the nearest whole share.

In the event of the dissolution or liquidation of the Company, or a merger, reorganization or consolidation in which the Company is not the surviving corporation, then, except as otherwise provided herein and/or in the discretion of the Administrator, each Stock Option and Outside Director Stock Option, to the extent not theretofore exercised, shall terminate forthwith.

Notwithstanding the foregoing, no adjustment shall be made pursuant to this Section 3 to the extent that such adjustment would violate Section 409A of the Code."

2
54485042;3

Exhibit 10.1

2.  All terms and conditions of the Plan, other than as specifically amended as set forth in this Amendment, shall remain in full force and effect;

IN WITNESS WHEREOF, a Vice President of the Company has executed this Amendment and certifies that the amendment to the Plan set forth above accurately reflects the amendment to the Plan adopted by the Board of Directors of the Company.

                            /s/ William E. Myers            
                            William E. Myers, Vice President

                            Dated:  September 10, 2020
3
54485042;3

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