Document:

Exhibit
10.7

 

ASSIGNMENT
OF OWNERSHIP INTERESTS

 

This
ASSIGNMENT OF OWNERSHIP INTERESTS (the “Assignment”) is entered into effective as of January 31, 2022 by MANUFACTURED
HOUSING PROPERTIES INC., a Nevada corporation, with an address for notice of 136 Main Street, Pineville, North Carolina 28134 (individually
and collectively, “Grantor”), in favor of VANDERBILT MORTGAGE AND FINANCE, INC., a Tennessee corporation, whose
address for notice is 500 Alcoa Trail, Maryville, Tennessee 37804 (“Lender”).

 

RECITALS

 

A.
SUNNYLAND MHP LLC, a Georgia limited liability company (“Borrower”), is indebted to Lender pursuant to a loan (“Loan”)
evidenced, governed, and/or secured by the following (collectively, the “Loan Documents”): (i) that certain Promissory
Note (“Note”) dated of even date herewith from Borrower to Lender in the principal amount of $1,760,000.00; (ii) that
certain Loan Agreement (“Loan Agreement”) dated of even date herewith by and between Borrower and Lender; and (iii)
those Loan Documents (as defined in the Loan Agreement), all as the same may from time to time be amended, restated, modified, consolidated,
renewed or replaced. Capitalized terms used herein, but not otherwise defined herein, shall have those meanings ascribed thereto in the
Loan Agreement.

 

B.
Grantor is the sole Member of Borrower.

 

C.
Lender would not extend the credit evidenced by the Note without Grantor pledging as collateral its ownership interests in Borrower
in order to secure the prompt and complete performance of all of the obligations and payment of all of the indebtedness under the Note
and other Loan Documents (all such obligations and indebtedness are hereinafter referred to collectively as the “Liabilities”).

 

NOW,
THEREFORE, in consideration of the covenants contained herein and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties agree as follows:

 

1.
Defined Terms. As used in this Assignment, the following terms shall have the following meanings:

 

(a)
“Code” shall mean the Uniform Commercial Code as the same may from time to time be in effect in the State of Tennessee.

 

(b)
“Governing Agreement” or “Governing Agreements” shall refer to, depending on Borrower’s form of organization,
(i)  Borrower’s bylaws, operating agreement, partnership agreement, or like document, in each case, together with any and all other
voting agreements or other documents evidencing any agreement between the holders of the ownership interests of Borrower and Borrower’s
interests therein, and any amendments or modifications to any of the foregoing, and (ii) Borrower’s charter, articles of organization,
certificate of limited partnership, statement of partnership authority, or like document evidencing the formation and/or the holders
of the ownership interests of Borrower, and any amendments or modifications to any of the foregoing, all in accordance with the terms
of this Assignment.

 

(c)
“Proceeds” shall mean “proceeds,” as such term is defined in the Code and shall include, but not be limited
to: (i) any and all payments (in any form whatsoever) made or due and payable to Grantor from time to time in connection with any
condemnation, seizure or forfeiture of all or any part of the Pledged Interests (as hereinafter defined) by any governmental body, authority,
bureau or agency (or any person acting under color of governmental authority); (ii) any and all amounts paid or payable to Grantor
for or in connection with any sale or other disposition of a Grantor’s interest in Borrower; and (iii) any and all other amounts
from time to time paid or payable under or in connection with any of the Pledged Interests.

 

     

     

    

 

2.
Grant of Security Interest. As security for the prompt and complete payment and performance when due of the Liabilities, Grantor
hereby grants to Lender a security interest in and pledges to Lender all of the following (each of which is referred to individually
as a “Pledged Interest” and collectively as the “Pledged Interests”):

 

(a)
all of Grantor’s right, title and interest as an owner in Borrower to receive distributions at any time or from time to time of cash
and other property, real, personal or mixed, from Borrower upon complete or partial liquidation or otherwise;

 

(b)
all of Grantor’s right, title and interest, if any, in Borrower’s property;

 

(c)
all of Grantor’s right, title and interest, if any, to participate in the management and voting of Borrower;

 

(d)
all of Grantor’s right, title and interest in and to: (i) all rights, privileges, authority and power of Grantor as owner or holder
of the items specified in (a), (b) and (c) above, including, but not limited to, all contract rights related thereto; (ii) all options
and other agreements for the purchase or acquisition of any interests in Borrower; and (iii) any document or certificate representing
or evidencing Grantor’s rights and interests in Borrower; and

 

(e)
to the extent not otherwise included, all proceeds and products of any of the foregoing.

 

3.
Representations and Warranties. Grantor represents and warrants that:

 

(a)
Grantor is the sole Member of Borrower and is the sole owner of such Grantor’s Pledged Interest, free and clear of any and all liens
and claims whatsoever except for the security interest granted to Lender pursuant to this Assignment. No other person has control of
any of Pledged Interest.

 

(b)
Except as set forth in the Loan Agreement, no security agreement, financing statement, assignment, equivalent security or lien instrument
or continuation statement covering all or any part of the Pledged Interests is on file or of record in any public office or in the records
of Borrower, as applicable, except financing statements with respect to the Pledged Interests filed by Lender pursuant to this Assignment.

 

(c)
Upon the filing of all appropriate financing statements under the Code, all steps necessary to create and perfect the security interest(s)
created by this Assignment as a valid and continuing first lien on and first perfected security interest in the Pledged Interests in
favor of Lender, prior to all other liens, security interests and other claims of any sort whatsoever against such Pledged Interests,
will have been taken.

 

(d)
Grantor has not changed its name, or used, adopted or discontinued the use of any fictitious name.

 

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(e)
Grantor has all power, statutory and otherwise, to execute and deliver this Assignment, to perform Grantor’s obligations hereunder and
to subject its Pledged Interests to the security interest created hereby, all of which has been duly authorized by all necessary action.

 

(f)
No amendments or supplements have been made to any Governing Agreement of Borrower since it was originally entered into which would have
a material and adverse effect on Grantor’s ability to perform its obligations under this Assignment; each Governing Agreement of Borrower
remains in effect; and no party to a Governing Agreement of Borrower is presently in default thereunder.

 

(g)
Grantor has the right to transfer all or any part of the Pledged Interests free of any lien or encumbrance.

 

(h)
No authorization, approval, or other action by, and no notice to or filing with, any governmental authority or regulatory body is required
for (i) Grantor’s granting of a security interest in its Pledged Interests pursuant to this Assignment, (ii) the execution,
delivery or performance of this Assignment by Grantor, (iii) the perfection of the security interest granted hereby (other than
financing statements with respect to the Pledged Interests filed by Lender pursuant to this Assignment), or (iv) the exercise by
Lender of the rights provided for in this Assignment or the remedies in respect of the Pledged Interests pursuant to this Assignment
(except as may be required in connection with such disposition by laws affecting the offering and sale of securities generally).

 

(i)
Upon the transfer of the Pledged Interests, or any portion thereof, to any party pursuant to Section 10 below, Borrower shall continue
in existence.

 

(j)
As of the date hereof, there are no certificates, instruments or other documents evidencing any of Grantor’s Pledged Interest other than
the Governing Agreements of Borrower.

 

4.
Covenants. Grantor covenants and agrees that from and after the date of this Assignment and until the Liabilities are fully satisfied:

 

(a)
Further Documentation; Pledge of Instruments. At any time and from time to time, upon the written request of Lender, and at the
sole expense of Grantor, Grantor will promptly and duly execute and deliver any and all such further instruments and documents and take
such further actions as Lender may reasonably deem necessary to obtain the full benefits of this Assignment and of the rights and powers
herein granted, including, without limitation, the execution and filing of any financing or continuation statements under the Code with
respect to the security interest granted hereby and, if otherwise required hereunder, transferring Pledged Interests to the possession
of Lender (if a security interest in such Pledged Interests can be perfected by possession) or taking any action to obtain exclusive
control of any Pledged Interests owned by Grantor in a manner acceptable to Lender (including a written confirmation of Lender’s “control”
over such Pledged Interests as such term is defined in Article 9 of the Code or any other then-applicable provision of the Code). Grantor
also hereby authorizes Lender to file any such financing or continuation statements without the signature of Grantor to the extent permitted
by the Code or other applicable law. If any amount payable under or in connection with any of the Pledged Interests shall be or become
evidenced by any promissory note, certificate or other instrument (other than an instrument which constitutes chattel paper under the
Code), such note or instrument shall be immediately pledged hereunder and a security interest therein granted to Lender and shall be
duly endorsed in a manner satisfactory to Lender and delivered to Lender. If at any time Grantor’s right or interest in any of the Pledged
Interests becomes an interest in real property, Grantor immediately shall execute, acknowledge and deliver to Lender such further documents
as Lender reasonably deems necessary or advisable to create a first priority perfected mortgage lien in favor of Lender in such real
property interest.

 

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(b)
Priority of Liens. Grantor will defend the right, title and interest hereunder of Lender as a first priority security interest
in the Pledged Interests against the claims and demands of all persons whomsoever.

 

(c)
Notices. Grantor will advise Lender promptly, in reasonable detail: (i) of any lien, security interest, encumbrance or claim
made or asserted in writing against any of the Pledged Interests; (ii) of any distribution of cash or other property by Borrower
in complete or partial liquidation of the Pledged Interests; and (iii) of the occurrence of any other event which would have a material
adverse effect on the aggregate value of the Pledged Interests or the security interest created hereunder, including the priority thereof.

 

(d)
Continuous Perfection. Grantor will not file or authorize the filing on Grantor’s behalf of any financing statement naming Grantor
as debtor covering all or any portion of the Pledged Interests, except financing statements naming Lender as secured party.

 

(e)
Name; Place of Formation; Continuous Existence. Without Lender’s prior written consent, Grantor shall not change (i) its
name; (ii) its business or legal structure; (iii) its state of formation; (iv) its principal place of business or chief
executive office if it has more than one place of business. In addition, Grantor shall not discontinue its usual business, or commence
to dissolve, wind-up or liquidate itself.

 

(f)
Transfer of Assets. Grantor will not directly or indirectly sell, pledge, mortgage, assign, transfer, or otherwise dispose of
or create or suffer to be created any lien, security interest or encumbrance on any of the Pledged Interests.

 

(g)
Performance of Obligations. Grantor will perform all of Grantor’s material obligations under the Governing Agreements prior to
the time that any interest or penalty would attach against Grantor or any of the Pledged Interests as a result of Grantor’s failure to
perform any of such obligations, and Grantor will do all things necessary to maintain the good standing of Borrower under the laws of
the jurisdiction of organization for such entities.

 

(h)
Governing Agreements. Grantor will not: (i) suffer or permit any amendment or modification of any Governing Agreement which
would have a material adverse effect on Grantor’s ability to perform its obligations under this Assignment without the prior written
consent of Lender; or (ii) withdraw as an owner of Borrower; or (iii) waive, release, or compromise any material rights or claims
Grantor may have against any other party which arise under any Governing Agreement. Grantor will not vote under any Governing Agreement
to cause Borrower to dissolve, liquidate, merge or consolidate with any other entity or take any other action under a Governing Agreement
that would materially adversely affect the security interest created by this Assignment, including without limitation the value or priority
thereof, or to cause Borrower to elect to have Grantor’s ownership interests conferred under the Governing Agreement be governed under
Article 8 of the Code. Grantor will not permit, suffer or otherwise consent to the modification or redemption of existing interests in
Borrower or the issuance of any new or additional interests, or options to acquire interests, in Borrower.

 

(i)
Entity Records. Grantor shall cause Borrower to make a notation on its books and records indicating the security interest granted
hereby.

 

(j)
Uncertificated Securities. If at any time any Pledged Interest constitutes a “security” as defined in Article 8 of the
Code, Grantor shall, or shall permit Lender to, promptly take all action necessary or appropriate to cause Lender to have sole and exclusive
“control” over the Pledged Interests, as such term is defined in Article 9 of the Code (or any other then-applicable provision
of the Code).

 

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5.
Grantor’s Powers.

 

(a)
So long as an uncured “Event of Default” (as hereinafter defined) shall not then exist, Grantor shall be the sole party entitled
(i) to exercise any and all voting rights and powers of Borrower, and (ii) to receive any and all distributions, in each case
arising from or relating to Grantor’s Pledged Interest; provided, however, that Grantor shall not exercise such rights or powers, or
consent to any action of Borrower that would be in contravention of the provisions of, or constitute an Event of Default under, this
Assignment or any of the other Loan Documents.

 

(b)
Upon the occurrence and during the continuance of an Event of Default, unless Lender designates in writing to Grantor to the contrary,
all rights of Grantor provided in Section 5(a) hereof shall cease, and all voting rights and powers that Grantor has in Borrower and
all distributions and rights to distributions included in the Pledged Interests or otherwise described in Section 5(a) shall become vested
in Lender, and Lender shall have the sole and exclusive right and authority to exercise such rights and powers thereafter. Grantor agrees
that Borrower and any third party may rely conclusively upon any notice from Lender that an Event of Default exists and therefore Lender
has the right and authority to exercise all rights and powers of Grantor. Grantor irrevocably waives any claim or cause of action against
any party who deals directly with Lender following receipt of such notice from Lender.

 

6.
Lender’s Appointment as Attorney-in-Fact.

 

(a)
Grantor hereby irrevocably constitutes and appoints Lender and each officer or agent of Lender with full power of substitution, as Grantor’s
true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of Grantor and in the name of Grantor
or in such attorney-in-fact’s own name, from time to time in the discretion of each such attorney-in-fact following the occurrence and
during the continuance of an Event of Default, for the purpose of carrying out the terms of this Assignment, to take any and all appropriate
action and to execute any and all documents and instruments which may be necessary or desirable to accomplish the purposes of this Assignment
and, without limiting the generality of the foregoing, hereby gives each such attorney-in-fact the power and right, from and after an
Event of Default, without notice to or assent by Grantor, to do the following on behalf of Grantor:

 

(i)
to collect and otherwise take possession of and title to any and all distributions of cash or other property due or distributable at
any time after the date hereof to Grantor as an owner from Borrower, whether in complete or partial liquidation or otherwise, to prosecute
or defend any action or proceeding in any court of law or equity, to convert any non-cash distributions to cash, and to apply any such
cash distributions, interest or proceeds of conversion in the manner specified in Section 10(d) of this Assignment;

 

(ii)
to ask, demand, collect, receive and give acceptances and receipts for any and all moneys due and to become due under any of Grantor’s
Pledged Interests and, in the name of Grantor or such attorney-in-fact’s own name or otherwise, to take possession of and endorse and
collect any checks, drafts, notes, acceptances or other instruments for the payment of moneys due under any of Grantor’s Pledged Interests;

 

(iii)
to pay or discharge taxes, liens, security interests or other encumbrances levied or placed on or threatened against the Pledged Interests;
and

 

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(iv)
(A) to direct any party liable for any payment under any of Grantor’s Pledged Interests to make payment of any and all moneys due
and to become due thereunder directly to Lender or as such attorney-in-fact shall direct; (B) to receive payment of and receipt
for any and all moneys, claims and other amounts due and to become due at any time in respect of or arising out of any Pledged Interests;
(C) to commence, prosecute or settle any suits, actions or proceedings at law or in equity in any court of competent jurisdiction
to collect the Pledged Interests or any portion thereof and to enforce any other right in respect of any of Grantor’s Pledged Interests;
(D) to defend or settle any suit, action or proceeding brought against Grantor with respect to any Pledged Interests; and (E) generally
to sell, transfer, pledge, make any agreement with respect to or otherwise deal with any of Grantor’s Pledged Interests as fully and
completely as though such attorney-in-fact were the absolute owner thereof for all purposes, and to do, at the option of such attorney-in-fact
at Grantor’s expense, at any time, or from time to time, all acts and things which such attorney-in-fact reasonably deems necessary to
protect, preserve or realize upon the Pledged Interests and the security interest of Lender therein, in order to effect the intent of
this Assignment, all as fully and effectively as Grantor might do.

 

(b)
Grantor hereby ratifies, to the extent permitted by law, all that said attorney shall lawfully do or cause to be done by virtue hereof.
This power of attorney is a power coupled with an interest and shall be irrevocable.

 

(c)
Grantor also authorizes and grants a power of attorney to Lender and each officer or agent of Lender at any time and from time to time
upon the occurrence and during the continuance of any Event of Default, to execute, in connection with the sale provided for in Section
10 of this Assignment, any endorsements, assignments or other instruments of conveyance or transfer with respect to any of the Pledged
Interests. Such power of attorney is deemed irrevocable and is coupled with a legal interest.

 

7.
Distributions. Following and during the existence of an Event of Default, Grantor hereby grants Lender full irrevocable power and
authority to receive and hold at any such time cash and non-cash distributions by Borrower on account of any of Grantor’s Pledged Interests
(together with all interest, if any, earned thereon), which may be held free and clear of the liens created hereby, and to convert any
such non-cash distributions to cash, and to apply any such cash distributions, interest or proceeds of conversion in the manner specified
in Section 10(d) of this Assignment.

 

8.
Performance by Lender of Grantor’s Obligations. If Grantor fails to perform or comply with any of Grantor’s agreements contained
herein (after the expiration of the applicable notice and cure period provided in the Loan Agreement) and Lender as provided for by the
terms of this Assignment shall itself perform or comply, or otherwise cause performance or compliance, with such agreement, the expenses
of Lender incurred in connection with such performance or compliance, together with interest thereon at the rate following a default
specified in the Note in effect from time to time shall be payable by Grantor to Lender on demand and shall constitute Liabilities secured
hereby.

 

9.
Default. Any of the following shall constitute an “Event of Default” hereunder:

 

(a)
A failure by Grantor to pay any payment when due and owing under this Assignment and such failure is not remedied within ten (10) calendar
days after written notice thereof is given to Grantor.

 

(b)
A failure by Grantor to observe or perform any non-monetary obligation, covenant, condition, or agreement hereof to be performed by Grantor
(subject to the same notice and cure periods provided for in the Loan Documents with respect to non-monetary defaults).

 

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(c)
Any representation or warranty made by Grantor in this Assignment is not true and correct in any material respect as of the date made.

 

(d)
Lender shall receive, at any time following the date hereof, an official report indicating that Lender’s security interest in the Pledged
Interests is not prior to all other security interests reflected in such report (subject to applicable notice and cure periods).

 

(e)
The occurrence of any “Event of Default” under any Loan Document (subject to applicable notice and cure periods).

 

10.
Remedies and Rights Upon Event of Default.

 

(a)
Upon the occurrence and during the continuance of any Event of Default, Lender or Lender’s designee may, at Lender’s option, elect to
become a substituted member in Borrower with respect to the Pledged Interests and Grantor shall execute or cause to be executed all documents
necessary to evidence Lender so becoming a substituted member. If any Event of Default shall occur and be continuing, Lender or Lender’s
designee may exercise in addition to all other rights and remedies granted to them in this Assignment and in any other instrument or
agreement securing, evidencing or relating to the Liabilities, all rights and remedies of a secured party under the Code. Without limiting
the generality of the foregoing, Grantor expressly agrees that in any such event Lender, without demand of performance or other demand,
advertisement or notice of any kind (except the notice specified below of time and place of public or private sale) to or upon Grantor
or any other person (all and each of which demands, advertisements and/or notices are hereby expressly waived), may collect, receive,
appropriate and realize upon the Pledged Interests, or any part thereof, and/or may sell, assign, give option or options to purchase,
or sell or otherwise dispose of and deliver said Pledged Interests (or contract to do so), or any part thereof, at public or private
sale or sales, at any exchange or broker’s board or at any of Lender’s offices or elsewhere at such prices as it may deem best, for cash
or on credit or for future delivery without the assumption of any credit risk. Grantor expressly acknowledges that private sales may
be less favorable to a seller than public sales but that private sales shall nevertheless be deemed commercially reasonable and otherwise
permitted hereunder. Lender or Lender’s designee shall have the right upon any such public sale or sales, and, to the extent permitted
by law, upon any such private sale or sales, to purchase the whole or any part of said Pledged Interests so sold, free of any right or
equity of redemption, which equity of redemption Grantor hereby waives and releases. At the request of Lender, Grantor agrees to deliver
to Lender or any purchaser or purchasers of the Pledged Interests any agreements, instruments and other documents evidencing or relating
to the Pledged Interests. Lender shall apply the net proceeds of any such collection, enforcement, sale or other disposition of, or realization
upon all or any part of the Pledged Interests as provided in Section 10(d) of this Assignment. Only after so applying such net proceeds
and after the payment by Lender of any other amount required by any provision of law, including Section 9-615(a)(3) of the Code (or any
other then-applicable provision of the Code), need Lender account for the surplus, if any, to the applicable Grantor. To the extent permitted
by applicable law, Grantor waives all claims, damages, and demands against Lender arising out of the disposition, repossession or retention
of the Pledged Interests. Grantor agrees that to the extent notice of sale shall be required by law, a reasonable authenticated notification
of disposition shall be notification given at least ten (10) business days prior to any such sale, provided, however, that no notification
need be given to either Grantor if Grantor authenticated after default a statement renouncing or modifying any right to notification
of sale or other intended disposition (such notification shall be deemed given when mailed or delivered on an overnight basis, postage
prepaid, addressed to Grantor at Grantor’s address referred to in Section 12 hereof) of the time and place of any public sale or of the
time after which a private sale may take place and that such notice is reasonable notification of such matters.

 

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(b)
Grantor also agrees to pay all reasonable costs of Lender, including reasonable attorneys’ fees and expenses, incurred with respect to
the collection, enforcement, retaking, holding, preparing for disposition, processing and disposing of the Pledged Interests, collection
of any of the Liabilities or the enforcement of any of Lender’s rights hereunder.

 

(c)
Grantor hereby waives presentment, demand, or protest (to the extent permitted by applicable law) of any kind in connection with this
Assignment or any Pledged Interest. Except for notices expressly provided for herein, Grantor hereby waives notice (to the extent permitted
by applicable law) of any kind in connection with this Assignment.

 

(d)
The proceeds of any sale, disposition or other realization upon all or any part of the Pledged Interests shall be distributed by Lender
in the following order of priorities:

 

(i)
first, to Lender in an amount sufficient to pay in full the reasonable expenses of Lender in connection with such sale, disposition
or other realization, including all reasonable expenses, liabilities and advances incurred or made by Lender in connection therewith,
including reasonable attorneys’ fees and expenses;

 

(ii)
second, to Lender until the other Liabilities are paid in full; and

 

(iii)
finally, upon payment in full of all of the Liabilities, to Grantor, or such party’s representative or as a court of competent
jurisdiction may direct.

 

Grantor
agrees to indemnify and hold harmless Lender, its directors, officers, employees, agents and parent, and subsidiary corporations, and
each of them, from and against any and all liabilities, obligations, claims, damages, or expenses incurred by any of them arising out
of or by reason of entering into this Assignment or the consummation of the pledge and grant of security interest contemplated by this
Assignment (excluding any and all liabilities, obligations, claims, damages and expenses caused by Lender’s gross negligence or willful
misconduct) and to pay or reimburse Lender for the reasonable fees and disbursements of counsel incurred in connection with any investigation,
litigation or other proceedings (whether or not Lender is a party thereto) arising out of or by reason of any of the aforesaid. Any amounts
properly due under this Section 10 shall be payable to Lender immediately upon demand.

 

11.
Limitation on Lender’s Duty in Respect of Pledged Interests. Except as expressly provided in the Code, Lender shall have no duties
concerning the custody and preservation of any of the Pledged Interests in its possession or control, or in the possession or control
of any agent or nominee of Lender, or as to any income thereon or as to the preservation of rights against prior parties or any other
rights pertaining thereto.

 

12.
Notices. Any notice and other communication required or permitted hereunder shall be delivered in accordance with the Loan Agreement
to the address first above written.

 

13.
Severability. Any provision of this Assignment that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such
prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

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14.
No Waiver; Cumulative Remedies. Lender shall not, by any act, delay, omission or otherwise, be deemed to have waived any of its rights
or remedies hereunder. No waiver hereunder shall be valid unless in writing signed by the party to be charged with such waiver and then
only to the extent therein set forth. A waiver of any right or remedy hereunder on any one occasion shall not be construed as a bar to
any right or remedy that Lender would otherwise have had on any future occasion. No failure to exercise nor any delay in exercising on
the part of Lender any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise
of any right, power or privilege hereunder preclude any other or future exercise thereof or the exercise of any other right, power or
privilege. The rights and remedies provided hereunder and under the other Loan Documents are cumulative and may be exercised singly or
concurrently, and are not exclusive of any rights and remedies provided by law. Lender may resort to and realize on the Pledged Interests
simultaneously with any acts or proceedings initiated by Lender in its sole and conclusive discretion to resort to or realize upon any
other sources of repayment of the Liabilities, including, but not limited to, collateral granted by other security agreements and the
personal liability of either Grantor and any person or corporation which has guaranteed repayment of the Liabilities. None of the terms
or provisions of this Assignment may be waived, altered, modified or amended except by an instrument in writing, duly executed by Grantor
and Lender. This Assignment can be executed in counterparts.

 

15.
Successors and Assigns. This Assignment and all obligations of Grantor hereunder shall be binding upon the successors and assigns
of Grantor, except that Grantor shall not have the right to assign its rights hereunder or any interest herein without the prior written
consent of Lender and shall, together with the rights and remedies of Lender hereunder, inure to the benefit of Lender and its respective
participants, successors and assigns. Neither this Assignment nor anything set forth herein is intended to, nor shall it, confer any
rights on any person or entity other than the parties hereto and all third party rights are expressly negated.

 

16.
Termination. This Assignment, and the assignments, pledges and security interests created or granted hereby, shall terminate when
the Liabilities shall have been fully paid and satisfied, at which time Lender shall release, reassign and deliver to Grantor the applicable
Pledged Interests and related documents then in the possession of Lender, including termination statements under the Code, all without
recourse upon, or warranty whatsoever, by Lender and at the cost and expense of Grantor.

 

17.
Injunctive Relief. Grantor recognizes that in the event Grantor fails to perform, observe or discharge any of Grantor’s obligations
hereunder (after the expiration of applicable notice and cure periods as provided for in the Loan Agreement), no remedy of law will provide
adequate relief to Lender, and agrees that Lender shall be entitled to temporary and permanent injunctive relief in any such case without
the necessity of proving actual damages.

 

18.
Waiver of Subrogation. Grantor shall have no rights of subrogation as to any of the Pledged Interests until full and complete performance
and payment of the Liabilities.

 

19.
Governing Law. This Assignment shall be governed by and construed in accordance with the laws of the State of Tennessee.

 

20.
Venue. Grantor does further consent to and agree that any action for the enforcement of this Assignment may be brought in the courts
of the State of Tennessee sitting in Knox County, Tennessee or any Federal court sitting in Knox County, Tennessee and consents to the
exclusive jurisdiction of such courts. Grantor hereby waives any objection that they may now or hereafter have to the venue of any such
action or any such court or that suit is brought in an inconvenient court.

 

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21.
Waiver of Jury Trial. GRANTOR HEREBY WAIVES THEIR RESPECTIVE RIGHTS TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED UPON, OR
RELATED TO, THE SUBJECT MATTER OF THIS ASSIGNMENT AND THE BUSINESS RELATIONSHIP THAT IS BEING ESTABLISHED. THIS WAIVER IS KNOWINGLY,
INTENTIONALLY AND VOLUNTARILY MADE BY GRANTOR, AND GRANTOR ACKNOWLEDGES THAT NEITHER LENDER NOR ANY PERSON ACTING ON BEHALF OF LENDER
HAS MADE ANY REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF TRIAL BY JURY OR IN ANY WAY TO MODIFY OR NULLIFY ITS EFFECT. GRANTOR ACKNOWLEDGES
THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH OF THEM HAS ALREADY RELIED ON THIS WAIVER
IN ENTERING INTO THIS ASSIGNMENT AND THAT EACH OF THEM WILL CONTINUE TO RELY ON THIS WAIVER IN THEIR RELATED FUTURE DEALINGS. GRANTOR
FURTHER ACKNOWLEDGES THAT THEY HAVE BEEN REPRESENTED (OR HAVE HAD THE OPPORTUNITY TO BE REPRESENTED) IN THE SIGNING OF THIS ASSIGNMENT
AND IN THE MAKING OF THIS WAIVER BY INDEPENDENT LEGAL COUNSEL.

 

22.
Electronic Transmission. The parties agree that if a paper original of this Assignment executed by one or more of the parties (an
“Executed Copy”) is sent by electronic transmission, (i) the Executed Copy shall be treated in all respects as a paper
original of this Assignment executed by the same parties whose signatures appear on the Executed Copy and (ii) the Executed Copy shall
have the same binding and legal effect as a paper original of this Assignment executed by the same parties whose signatures appear on
the Executed Copy. At the request of any party who receives an Executed Copy, this Assignment shall be re-executed by the parties who
signed the Executed Copy and the executed paper original Assignment shall be sent to the requesting party by any method permitted herein
other than by electronic transmission. Each of the parties further agree that it will not raise the transmission of this Assignment or
the Executed Copy by electronic transmission as a defense in any proceeding or action in which the validity of this Assignment is at
issue and hereby forever waives such defense. “Electronic transmission” means any form of communication, such as facsimile
or email, not directly involving the physical transmission of actual paper, which creates a record of the actual paper that may be retained,
retrieved, reviewed and printed by the recipient.

 

[Signature
page follows]

 

    10

     

    

 

IN
WITNESS WHEREOF, Grantor has executed this Assignment of Ownership Interests as of the date first above written.

 

	 	GRANTOR:
	 	 	 
		MANUFACTURED
    HOUSING PROPERTIES, INC.
	 	 	 
		By:	/s/
    Michael Z. Anise
			Michael Z. Anise, President

 

	STATE OF	North Carolina       )	 
	COUNTY OF	Mecklenburg         )	 

 

Before
me, the undersigned, a Notary Public of said County and State, personally appeared Michael Z. Anise, with whom I am personally
acquainted (or proved to me on the basis of satisfactory evidence), and who, upon oath, acknowledged himself to be the President of MANUFACTURED
HOUSING PROPERTIES, INC., a Delaware limited liability company, the within named Grantor, and that he in such capacity, being authorized
so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the Grantor in such capacity.

 

Witness
my hand and seal, this 28 day of January, 2022.

 

	 	 	/s/
    Alexander Q. Olliver
	 	 	Notary Public

 

My
Commission Expires: March 25, 2024

 

 

11Document

Exhibit 10.1

SUNLIGHT FINANCIAL HOLDINGS INC.
2021 EQUITY INCENTIVE PLAN

NOTICE OF RESTRICTED STOCK UNIT AWARD

Subject to the terms and conditions of this Notice of Restricted Stock Unit Award (this “Notice”), the Restricted Stock Unit Award Agreement attached hereto (the “Award Agreement”), and the Sunlight Financial Holdings Inc. 2021 Equity Incentive Plan (the “Plan”), the below individual (the “Participant”) is hereby granted the below Restricted Stock Units (the “RSUs”) by Sunlight Financial Holdings Inc., a Delaware corporation (the “Company”). Unless otherwise specifically indicated, all terms used in this Notice have the meanings set forth in the Award Agreement or the Plan. 

Identifying Information:

												
	Participant Name		Date of Award:	[__], 2022
	and Address:		Vesting Commencement Date:	[__], 2022
			Value of RSUs Awarded:	$[INSERT VALUE]

Grant Date: 
Subject to the terms of the Plan, this Notice and the Award Agreement, one-third (1/3rd) of the Value of RSUs Awarded (the “Grant Date Portion”) will be granted on June 30, 2022, September 30, 2022, and December 31, 2022.  Notwithstanding the foregoing, in the event of (i) a Change in Control, any yet-to-be granted Grant Date Portion (collectively, the “Ungranted RSU Portion”) will be granted as of the date of such Change in Control, or (ii) termination of the Participant’s Continuous Service by the Company without Cause or by the Participant for Good Reason within the Protection Period in connection with a Change in Control (a “Protected Termination”), any Ungranted RSU Portion will be granted and vesting will be accelerated in full as of (a) the date of such Participant’s termination, or (b) in the event the Protected Termination occurs within the twelve (12) months prior to a Change in Control, as of the date of such Change in Control (in each case, the “Ungranted RSU Portion Grant Date”).  The number of RSUs to be granted on each of the foregoing grant dates to the Participant will be calculated by dividing the applicable Grant Date Portion by the preceding ninety (90)-day average closing stock price of the Company’s Class A Common Stock (the “Preceding 90-Day Average”) as of each such grant date, provided that in the event of a Change of Control or Protected Termination, the number of RSUs to be granted on the Ungranted RSU Portion Grant Date to the Participant will be calculated by dividing the Ungranted RSU Portion by the Preceding 90-Day Average as of such Ungranted RSU Portion Grant Date.  

Vesting Schedule:
Subject to the Participant’s Continuous Service through each such vesting date, the terms of the Plan, this Notice and the Award Agreement (including the vesting acceleration provisions in Section 2), the RSUs will vest over a four (4)-year period in accordance with the following vesting schedule (the “Vesting Schedule”):

						
	Vesting Date	Nonforfeitable Percentage

	1st anniversary of the Vesting Commencement Date
	25% will vest, combined total of 25% vested

	2nd anniversary of the Vesting Commencement Date
	25% will vest, combined total of 50% vested

	3rd anniversary of the Vesting Commencement Date
	25% will vest, combined total of 75% vested

	4th anniversary of the Vesting Commencement Date
	 25% will vest, combined total of 100% vested

[SIGNATURES ON NEXT PAGE]

-1-

Exhibit 10.1

Representations and Agreements of the Participant:
The Participant has reviewed this Notice, the Award Agreement and the Plan in their entirety, has had an opportunity to have them reviewed by his or her legal and tax advisers, and hereby represents that the Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents or affiliates. The Participant represents to the Company that he or she is familiar with the terms of this Notice, the Award Agreement and the Plan, and hereby accepts the RSUs subject to all of their terms. The Participant hereby agrees that all questions of interpretation and administration relating to this Notice, the Award Agreement and the Plan will be resolved solely by the Administrator.

Electronic Signature:
This Notice may be executed by the Participant and the Company by means of electronic or digital signatures, which will have the same force and effect as manual signatures. The Participant agrees that clicking “I Accept” (or a tab of similar intent) in connection with or response to any electronic communication or other medium has the effect of affixing the Participant’s electronic signature to this Notice. If required to be executed by electronic or digital signature, this Award of RSUs will be forfeited if the Participant does not so execute this Notice prior to the deadline set forth in the electronic transmission of this Notice and the Award Agreement.

SUNLIGHT FINANCIAL HOLDINGS INC.    PARTICIPANT

By:                                 Signature:                 

Its:                                 Dated:                     

Dated:                     

*     *     *     *     *
-2-

SUNLIGHT FINANCIAL HOLDINGS INC.
2021 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT

Subject to the terms and conditions of the Notice of Restricted Stock Unit Award (the “Notice”), this Restricted Stock Unit Award Agreement (this “Award Agreement”), and the Sunlight Financial Holdings Inc. 2021 Equity Incentive Plan (the “Plan”), Sunlight Financial Holdings Inc., a Delaware corporation (the “Company”), hereby grants the individual set forth in the Notice (the “Participant”) Restricted Stock Units (the “RSUs”). Unless otherwise specifically indicated, all terms used in this Award Agreement have the meanings set forth in the Notice or the Plan.

1.Grant of an RSU.  The principal features of the RSU, including the number of RSUs subject to the Award, are set forth in the Notice.
2.Vesting Schedule and Risk of Forfeiture.  
(a)Vesting Schedule.  Except as otherwise set forth in this Section 2 or the Plan, subject to the Participant’s Continuous Service and any other limitations set forth in the Notice, the Plan and this Award Agreement, the RSUs will vest in accordance with the Vesting Schedule provided in the Notice (the “Vesting Schedule”). Unless and until the RSUs have vested in accordance with the Vesting Schedule, the Participant will have no right to receive any dividends or other distribution with respect to the RSUs. In the event of the termination of the Participant’s Continuous Service prior to the vesting of all of the RSUs (but after giving effect to any accelerated vesting pursuant to this Section 2 and the Plan), any unvested RSUs (and all rights arising from such RSUs and from being a holder thereof) will terminate automatically without any further action by the Company and will be forfeited without further notice and at no cost to the Company.
(b)Notwithstanding anything in the Notice or this Award Agreement to the contrary, but subject to Section 8 herein, (i) the unvested RSUs and (ii) if applicable, any Ungranted RSU Portion, shall immediately become fully vested upon the termination of the Participant’s Continuous Service by the Company without Cause or by the Participant for Good Reason, in each case, within twelve (12) months prior to or twenty-four (24) months following a Change in Control (the “Protection Period”). “Good Reason” means, with respect to the termination of the Participant as a Service Provider for “Good Reason,” as such term (or word of like import) is expressly defined in a then-effective written employment, consulting or other similar agreement between the Participant and the Company. For the avoidance of doubt, in the event of a termination of the Participant’s Continuous Service by the Company without Cause or by the Participant for Good Reason within twelve (12) months prior to a Change in Control, the vesting date for any such RSUs hereunder shall be the date of such Change in Control, following which such RSUs shall be settled in accordance with Section 3 hereof.
(c)Risk of Forfeiture. The RSUs will be subject to a risk of forfeiture until such time as the RSUs vest in accordance with the Vesting Schedule. Notwithstanding anything in the Notice or this Award Agreement to the contrary, the vested and unvested RSUs will automatically and immediately be forfeited upon the termination of Participant’s Continuous Service for Cause. The Company may implement any forfeiture under this Section 2(c) in a unilateral manner, without the Participant’s consent, and with no payment to the Participant, cash or otherwise, for the forfeited RSUs.
3.Settlement of RSUs.  Subject to the terms of this Award Agreement, as soon as administratively practicable following the date on which all or any portion of the RSUs vest 

pursuant to Section 2, the Company shall deliver to the Participant (or the Participant’s permitted transferee, if applicable) the number of Shares subject to the RSUs that vested and are being settled.  Any fractional RSU that becomes vested hereunder shall be rounded down at the time Shares are issued in settlement of such RSU. No fractional Shares, nor the cash value of any fractional Shares, will be issuable or payable to the Participant pursuant to this Award Agreement. All Shares issued hereunder, if any, shall be delivered either by delivering one or more certificates for such Shares to the Participant or by entering such Shares in book-entry form, as determined by the Administrator in its sole discretion. The value of the Shares shall not bear any interest owing to the passage of time. Neither this Section 3 nor any action taken pursuant to or in accordance with this Award Agreement shall be construed to create a trust or a funded or secured obligation of any kind.
4.Dividend Equivalents.  The Participant shall be entitled to any Dividend Equivalents with respect to the RSUs to reflect any dividends payable on Shares. Dividend Equivalents shall be subject to the same vesting and forfeiture restrictions as the RSUs to which they are attributable and shall be paid on the same date that the RSUs to which they are attributable are settled in accordance with Section 3 hereof. Dividend Equivalents may be accumulated and deemed reinvested in additional Restricted Stock Units or may be accumulated in cash, as determined by the Administrator in its discretion.
5.Taxes.  The Participant hereby acknowledges and understands that the Participant may suffer adverse tax consequences as a result of the Participant’s receipt of, vesting in, or disposition of, the RSUs.
(a)Representations.  The Participant has reviewed with the Participant’s tax advisors the tax consequences of the Notice, this Award Agreement and the RSUs granted hereunder, including any federal, state, local or foreign tax laws. The Participant is relying solely on such advisors and not on any statements or representations of the Administrator, the Company, any Affiliate or any of their respective agents (including, without limitation, attorneys, accountants, consultants, bankers, lenders, prospective lenders and financial representatives) for tax advice. The Participant hereby acknowledges and understands that the Participant (and not the Company nor any Affiliate) will be responsible for the Participant’s tax liability that may arise as a result of the Participant receiving this Award Agreement and the RSUs granted hereunder.
(b)Payment of Withholding Taxes.  To the extent that the receipt, vesting or settlement of the RSUs results in compensation income or wages to the Participant for federal, state, local or foreign tax purposes, the Participant will make appropriate arrangements with the Company or any Affiliate for the satisfaction of all withholding requirements and other tax obligations applicable to any RSUs that vest and are settled in Shares in accordance with Section 3, which arrangements may include, at the Administrator’s election, the delivery of cash or cash equivalents, Shares (including previously owned Shares, net settlement, a broker-assisted sale, or other cashless withholding or reduction of the amount of cash or Shares otherwise issuable or delivered pursuant to this Award), other property, or any other legal consideration the Administrator deems appropriate. If such tax obligations are satisfied through the withholding of Shares that are otherwise issuable to the Participant pursuant to this Award (or through the surrender of previously owned Shares by the Participant to the Company), the maximum number of Shares of that may be so withheld (or surrendered) shall be the number of Shares that have an aggregate Fair Market Value on the date of withholding or surrender equal to the aggregate amount of such tax liabilities, determined based on the greatest withholding rates for federal, state, local and foreign tax purposes, including payroll taxes, that may be utilized without creating adverse accounting treatment for the Company with respect to this Award, as determined by the Administrator. The Participant hereby acknowledges the Company’s and any Affiliate’s obligations under this Award Agreement are fully contingent on the Participant first 

satisfying this Section 5(b). Therefore, a failure of the Participant to reasonably satisfy this Section 5 in accordance with the Administrator’s sole and absolute discretion will result in the automatic termination and expiration of this Award Agreement and the Company’s obligations hereunder. The Participant hereby agrees that a breach of this Section 5(b) will be deemed to be a material breach of this Award Agreement.
(c)Section 409A.  Notwithstanding anything herein or in the Plan to the contrary, the RSUs granted pursuant to this Award Agreement are intended to be exempt from the limitations and requirements of Section 409A of the Code, as amended from time to time, including the guidance and regulations promulgated thereunder and successor provisions, guidance and regulations thereto (“Section 409A”) and shall be limited, construed and interpreted in accordance with such intent. Nevertheless, to the extent that the Administrator determines that the RSUs may not be exempt from Section 409A, then, if the Participant is deemed to be a “specified employee” within the meaning of Section 409A, as determined by the Administrator, at a time when the Participant becomes eligible for settlement of the RSUs upon his or her “separation from service” within the meaning of Section 409A, then to the extent necessary to prevent any accelerated or additional tax under Section 409A, such settlement will be delayed until the earlier of: (a) the date that is six months following the Participant’s separation from service and (b) the Participant’s death. Notwithstanding the foregoing, the Company and the Affiliates make no representations that the RSUs provided under this Award Agreement are exempt from or compliant with Section 409A and in no event shall the Company or any Affiliate be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Participant on account of non-compliance with Section 409A.
6.Non-Transferability of RSUs.  The RSUs may not be transferred in any manner other than by will or by the laws of descent and distribution. Notwithstanding the foregoing, the Participant may designate one or more beneficiaries of the Participant’s RSUs in the event of the Participant’s death on a beneficiary designation form provided by the Administrator. The terms of this Award Agreement are binding upon the executors, administrators, heirs, successors and transferees of the Participant.
7.No Rights as a Shareholder of the Company.  The Participant’s receipt of the grant of RSUs pursuant to the Notice and this Award Agreement will not provide or confer rights or status as a shareholder of the Company until such time the RSUs are settled in Shares in accordance with Section 3 of this Award Agreement.
8.Waiver and Release.  Notwithstanding any other provisions of this Award Agreement to the contrary, the Company shall not make or provide the accelerated vesting set forth in Sections 2(b) or Section 2(c) (in each case, the “Accelerated Equity Vesting”), unless the Participant timely executes and delivers to the Company a general release of claims in the form provided by the Company (which shall be in substantially the form attached to a Participant’s employment agreement with the Company or any subsidiary, for any Participant with an employment agreement with the Company or any subsidiary that has a form of release attached thereto) (the “Waiver and Release”), and such Waiver and Release remains in full force and effect, has not been revoked and is no longer subject to revocation, within 60 calendar days after the date of termination (the date the Waiver and Release is effective, has not been revoked, and is no longer subject to revocation, the “Release Effective Date”). If the requirements of this Section 8 are not satisfied by the Participant (or the Participant’s estate or legally appointed personal representative), then no Accelerated Equity Vesting shall be due to the Participant (or the Participant’s estate). Notwithstanding anything in this Award Agreement to the contrary, the Accelerated Equity Vesting shall not be provided until the first practicable date following the date the Waiver and Release is executed and no longer subject to revocation; provided, that if the period during which the Participant has discretion to execute or revoke the Waiver and Release 

straddles two calendar years, then the Accelerated Equity Vesting shall be provided in the second calendar year.
9.Legality of Initial Issuance.  No Shares will be issued in accordance with Section 3 of this Award Agreement unless and until the Administrator has determined that: (a) the Company and the Participant have taken all actions required to register the Shares under the Securities Act or to perfect an exemption from the registration requirements thereof, if applicable; (b) all applicable listing requirements of any stock exchange or other securities market on which the Shares are listed, if any, have been satisfied; and (c) any other applicable provision of any Applicable Laws has been satisfied.
10.Notice.  Any notice required by the terms of this Award Agreement must be given in writing and will be deemed to be effective upon the earlier of personal delivery and the fifth business day after deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid. Notice must be addressed to the Company at its principal executive office and to the Participant at the address that the Participant most recently provided to the Company or an Affiliate.
11.Successors and Assigns.  Except as provided herein to the contrary, the Notice, this Award Agreement and the Plan are binding upon and will inure to the benefit of the parties to the Notice and this Award Agreement, their respective permitted successors and assigns.
12.No Assignment.  Except as otherwise provided in this Award Agreement, the Participant may not assign any of his or her rights under the Notice, this Award Agreement or the Plan without the prior written consent of the Company, which consent may be withheld in its sole discretion. The Company is permitted to assign its rights or obligations under the Notice, this Award Agreement and the Plan.
13.Construction; Severability.  The captions and headings used in this Award Agreement are inserted for convenience and are not to be deemed to be a part of this Award Agreement for construction or interpretation. Except where otherwise indicated by the context, the singular form includes the plural form and the plural form includes the singular form. Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise. The term “include” or “including” does not denote or imply any limitation. The term “business day” means any Monday through Friday other than such a day on which banks are authorized to be closed in the State of Delaware. The validity, legality or enforceability of the remainder of the Notice and this Award Agreement will not be affected even if one or more of the provisions of the Notice or this Award Agreement are held by a court of competent jurisdiction to be invalid, illegal or unenforceable in any respect.
14.Consent to Electronic Delivery; Electronic Signature.  In lieu of receiving documents in paper format, the Participant agrees, to the fullest extent permitted by Applicable Laws, to accept electronic delivery of any documents that the Company may be required to deliver (including, but not limited to, grant or award notifications and agreements, account statements, reports, and all other forms of communications) in connection with this and any other Award made or offered by the Company. Electronic delivery may be via a Company electronic mail system or by reference to a location on a Company intranet to which the Participant has access. The Participant hereby consents to any and all procedures the Company has established or may establish for an electronic signature system for delivery and acceptance of any such documents that the Company may be required to deliver, and agrees that his or her electronic signature is the same as, and have the same force and effect as, his or her manual signature. 
15.Administration and Interpretation.  Any determination by the Administrator in connection with any question or issue arising under the Notice, the Plan or this Award Agreement will be 

final, conclusive and binding on the Participant, the Company, its Affiliates, and all other persons. Any question or dispute regarding the interpretation of this Award Agreement or the receipt of the RSUs or Shares hereunder must be submitted by the Participant to the Administrator. The resolution of such question or dispute by the Administrator will be final and binding on all parties.
16.Counterparts.  The Notice and each of the exhibits to this Award Agreement may be executed in any number of counterparts, any of which may be executed and transmitted by facsimile or portable document format (.pdf), and each of which will be deemed to be an original, but all of which together will be deemed to be one and the same instrument.
17.Entire Agreement; Governing Law; and Amendments.  The provisions of the Plan and the Notice are incorporated herein by reference. The Plan, the Notice and this Award Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company, its Affiliates and the Participant with respect to the subject matter hereof, and may not be modified adversely to the Participant’s interest except by means of a writing signed by the Company and the Participant. This Award Agreement is governed by the laws of the State of Delaware applicable to contracts executed in and to be performed in the State of Delaware, without regard to conflicts of laws principles thereof. The Administrator may, in its sole discretion, amend this Award Agreement from time to time in any manner that is not inconsistent with the Plan, including to unilaterally adopt amendments to this Award Agreement or the Plan to the minimum extent necessary or appropriate (as determined by the Administrator in its sole discretion) for the RSUs to comply with Section 409A; provided, however, that except as otherwise provided in the Plan or this Award Agreement, any such amendment that materially reduces the rights of the Participant shall be effective only if it is in writing and signed by both the Participant and an authorized officer of the Company.
18.Venue.  The Company, its Affiliates, the Participant and the Participant’s assignees agree that any suit, action or proceeding arising out of or related to the Notice, this Award Agreement or the Plan must be brought in the United States District Court for the District of Delaware (or should such court lack jurisdiction to hear such action, suit or proceeding, in a state court in Delaware) and that all parties submit to the jurisdiction of such court. The parties irrevocably waive, to the fullest extent permitted by law, any objection the party may have to the laying of venue for any such suit, action or proceeding brought in such court. If any one or more provisions of this Section 18 are for any reason held invalid or unenforceable, it is the specific intent of the parties that such provisions be modified to the minimum extent necessary to make it or its application valid and enforceable.
19.No Guarantee of Continuous Service.  THE PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF RSUS PURSUANT TO THE VESTING SCHEDULE IS EARNED ONLY BY CONTINUOUS SERVICE AT THE WILL OF THE COMPANY OR ANY AFFILIATE, AS APPLICABLE (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THE RSUS OR ACQUIRING SHARES HEREUNDER). THE PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AWARD AGREEMENT, THE RIGHTS GRANTED HEREUNDER, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUOUS SERVICE FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND DO NOT INTERFERE IN ANY WAY WITH THE PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY OR ANY AFFILIATE TO TERMINATE THE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE. THE GRANT OF THE RSUS IS A ONE-TIME BENEFIT AND DOES NOT CREATE ANY CONTRACTUAL OR OTHER RIGHT TO RECEIVE A GRANT OF 

AWARDS OR BENEFITS IN LIEU OF AWARDS IN THE FUTURE. ANY FUTURE AWARDS WILL BE GRANTED AT THE SOLE DISCRETION OF THE COMPANY.
20.Clawback.  Notwithstanding any provision in the Notice, this Award Agreement or the Plan to the contrary, all cash or Shares issued hereunder shall be subject to any compensation recovery or recoupment policy applicable to executives of the Company and its Affiliates that is hereafter adopted by the Board or a duly authorized committee thereof to adhere to the intent of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the Sarbanes-Oxley Act of 2002, or other applicable law, as advised to the Board in a written opinion (including via e-mail correspondence) of the Company’s legal counsel.
21.Unsecured General Creditor.  The Participant has no legal or equitable rights, interests or claims in any property or assets of the Company due to the Notice, this Award Agreement and the grant of RSUs hereunder. For purposes of the payment of benefits under the Notice and this Award Agreement, the Participant has no more rights than those of a general creditor of the Company. The Company’s obligation under the Notice and this Award Agreement will be that of a conditional unfunded and unsecured promise to pay money or property in the future.
22.Waiver.  Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof will not be deemed to be a waiver of such term, covenant, or condition, nor will any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or power hereunder at any one or more times be deemed to be a waiver or relinquishment of such right or power at any other time or times. 
*   *   *   *   *

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