Document:

Exhibit 10.6

 

INSPIRED
ENTERTAINMENT, INC. 

2018
OMNIBUS INCENTIVE PLAN

 

1.             Purpose.
The purpose of the Inspired Entertainment, Inc. 2018 Omnibus Incentive Plan is to provide a means through which the Company and
its Affiliates may attract and retain key personnel and to provide a means whereby directors, officers, managers, employees, consultants
and advisors of the Company and its Affiliates can acquire and maintain an equity interest in the Company, or be paid incentive
compensation, which may (but need not) be measured by reference to the value of Common Shares, thereby strengthening their commitment
to the welfare of the Company and its Affiliates and aligning their interests with those of the Company’s stockholders.

 

2.             Definitions.
The following definitions shall be applicable throughout this Plan:

 

(a)          “Affiliate”
means (i) any person or entity that directly or indirectly controls, is controlled by or is under common control with the Company
and/or (ii) to the extent provided by the Committee, any person or entity in which the Company has a significant interest as determined
by the Committee in its discretion. The term “control” (including, with correlative meaning, the terms “controlled
by” and “under common control with”), as applied to any person or entity, means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and policies of such person or entity, whether through
the ownership of voting or other securities, by contract or otherwise.

 

(b)          “Award”
means, individually or collectively, any Incentive Stock Option, Nonqualified Stock Option, Stock Appreciation Right, Restricted
Stock, Restricted Stock Unit and Stock Bonus Award granted under this Plan.

 

(c)          “Award
Agreement” means an agreement made and delivered in accordance with Section 14(a) of this Plan evidencing the grant
of an Award hereunder.

 

(d)          “Board”
means the Board of Directors of the Company.

 

(e)         “Business
Day” means any day other than a Saturday, a Sunday or a day on which banking institutions in New York City are authorized
or obligated by federal law or executive order to be closed.

 

     

     

    

 

(f)          “Cause”
shall have the meaning set forth in the applicable Award Agreement or Participant Agreement, provided that if the applicable Award
Agreement or Participant Agreement does not contain such a definition, “Cause” shall mean, (1) the Participant’s
plea of nolo contendere to, conviction of or indictment for, any crime (whether or not involving the Company or its Affiliates)
(i) constituting a felony or (ii) that has, or could reasonably be expected to result in, an adverse impact on the performance
of the Participant’s duties to the Company or an Affiliate, or otherwise has, or could reasonably be expected to result
in, an adverse impact on the business or reputation of the Company or its Affiliates, (2) conduct of the Participant, in connection
with his or her employment or service, that has resulted, or could reasonably be expected to result, in material injury to the
business or reputation of the Company or its Affiliates, (3) any material violation of the Award Agreement, the Participant Agreement,
or any policies of the Company or an Affiliate, including, but not limited to, the Inspired Entertainment, Inc. Code of Ethics,
those policies relating to sexual harassment or the disclosure or misuse of confidential information, or those policies set forth
in the manuals or statements of policy of the Company or Affiliate; (4) the Participant’s act(s) of gross negligence
or willful misconduct in the course of his or her employment or service with the Company or Affiliate; (5) misappropriation
by the Participant of any assets or business opportunities of the Company or its Affiliates; (6) embezzlement or fraud committed
by the Participant, at the Participant’s direction, or with the Participant’s prior actual knowledge; or (7)
willful neglect in the performance of the Participant’s duties for the Company or Affiliate or willful or repeated failure
or refusal to perform such duties. If, subsequent to the termination of a Participant for any reason other than by the Company
or Affiliate for Cause, it is discovered that the Participant’s employment or service could have been terminated for Cause,
such Participant’s employment or service shall, at the discretion of the Committee, be deemed to have been terminated by
the Company or Affiliate for Cause for all purposes under the Plan, and the Participant shall be required to repay to the Company
all amounts received by him or her in respect of any Award following such termination that would have been forfeited under the
Plan had such termination been by the Company or Affiliate for Cause.

 

(g)          “Change
in Control” shall, in the case of a particular Award, unless the applicable Award Agreement states otherwise or
contains a different definition of “Change in Control,” be deemed to occur upon:

 

(i)         A
change in ownership or control of the Company affected through a transaction or series of transactions (other than an offering
of Common Shares to the general public through a registration statement filed with the Securities and Exchange Commission or similar
non-U.S. regulatory agency or pursuant to a Non-Control Transaction) whereby any “person” (as defined in Section 3(a)(9)
of the Exchange Act) or any two or more persons deemed to be one “person” (as used in Sections 13(d)(3) and 14(d)(2)
of the Exchange Act), other than the Company or any of its Affiliates, an employee benefit plan sponsored or maintained by the
Company or any of its Affiliates (or its related trust), or any underwriter temporarily holding securities pursuant to an offering
of such securities, directly or indirectly acquire “beneficial ownership” (within the meaning of Rule 13d-3 under
the Exchange Act) of securities of the Company possessing more than fifty percent (50%) of the total combined voting power of
the Company’s securities eligible to vote in the election of the Board (the “Company Voting Securities”);

 

(ii)        The
date, within any consecutive twenty-four (24) month period commencing on or after the Effective Date, upon which individuals who
constitute the Board as of the Effective Date (the “Incumbent Board”) cease for any reason to constitute
at least a majority of the Board; provided, however, that any individual who becomes a director subsequent to the
Effective Date whose election or nomination for election by the Company’s stockholders was approved by a vote of at least
a majority of the directors then constituting the Incumbent Board (either by a specific vote or by approval of the proxy statement
of the Company in which such individual is named as a nominee for director, without objection to such nomination) shall be considered
as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial
assumption of office occurs as a result of an actual or threatened election contest (including, but not limited to, a consent
solicitation) with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents
by or on behalf of a person other than the Board;

 

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(iii)       The
consummation of a merger, consolidation, share exchange, or similar form of corporate transaction involving the Company or any
of its Affiliates that requires the approval of the Company’s stockholders (whether for such transaction, the issuance of
securities in the transaction or otherwise) (a “Reorganization”), unless immediately following such
Reorganization (1) more than fifty percent (50%) of the total voting power of (A) the corporation resulting from such Reorganization
(the “Surviving Company”) or (B) if applicable, the ultimate parent corporation that has, directly or
indirectly, beneficial ownership of one hundred percent (100%) of the voting securities of the Surviving Company (the “Parent
Company”), is represented by Company Voting Securities that were outstanding immediately prior to such Reorganization
(or, if applicable, is represented by shares into which such Company Voting Securities were converted pursuant to such Reorganization),
and such voting power among the holders thereof is in substantially the same proportion as the voting power of such Company Voting
Securities among holders thereof immediately prior to such Reorganization, (2) no person, other than an employee benefit plan
sponsored or maintained by the Surviving Company or the Parent Company (or its related trust), is or becomes the beneficial owner,
directly or indirectly, of fifty percent (50%) or more of the total voting power of the outstanding voting securities eligible
to elect directors of the Parent Company, or if there is no Parent Company, the Surviving Company, and (3) at least a majority
of the members of the board of directors of the Parent Company, or if there is no Parent Company, the Surviving Company, following
the consummation of such Reorganization are members of the Incumbent Board at the time of the Board’s approval of the execution
of the initial agreement providing for such Reorganization (any Reorganization which satisfies all of the criteria specified in
clauses (1), (2), and (3) above shall be a “Non-Control Transaction”); or

 

(iv)       The
sale or disposition, in one transaction or a series of related transactions, of all or substantially all of the assets of the
Company to any “person” (as defined in Section 3(a)(9) of the Exchange Act) or to any two or more persons deemed to
be one “person” (as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act) other than the Company’s Affiliates.

 

Notwithstanding
the foregoing, (x) a Change in Control shall not be deemed to occur solely because any person acquires beneficial ownership of
fifty percent (50%) or more of the Company Voting Securities as a result of an acquisition of Company Voting Securities by the
Company that reduces the number of Company Voting Securities outstanding; provided that if after such acquisition
by the Company such person becomes the beneficial owner of additional Company Voting Securities that increase the percentage of
outstanding Company Voting Securities beneficially owned by such person, a Change in Control shall then be deemed to occur, and
(y) with respect to the payment of any amount that constitutes a deferral of compensation subject to Section 409A of the Code
payable upon a Change in Control, a Change in Control shall not be deemed to have occurred, unless the Change in Control constitutes
a change in the ownership or effective control of the Company or in the ownership of a substantial portion of the assets of the
Company under Section 409A(a)(2)(A)(v) of the Code.

 

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(h)         “Code”
means the Internal Revenue Code of 1986, as amended, and any successor thereto. References in this Plan to any section of the
Code shall be deemed to include any regulations or other interpretative guidance under such section, and any amendments or successor
provisions to such section, regulations or guidance.

 

(i)           “Committee”
means a committee of at least two people as the Board may appoint to administer this Plan or, if no such committee has been appointed
by the Board, the Board. Unless altered by an action of the Board, the Committee shall be the Compensation Committee of the Board.

 

(j)           “Common
Shares” means the common stock, par value $0.0001 per share, of the Company (and any stock or other securities into
which such common shares may be converted or into which they may be exchanged).

 

(k)          “Company”
means Inspired Entertainment, Inc., and its successors and assigns.

 

(l)           “Date
of Grant” means the date on which the granting of an Award is authorized, or such other date as may be specified
in such authorization.

 

(m)         “Disability”
means a “permanent and total” disability incurred by a Participant while in the employ of the Company or an Affiliate.
For this purpose, a permanent and total disability shall mean that the Participant is unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can
be expected to last for a continuous period of not less than twelve (12) months.

 

(n)         “Effective
Date” means September 28, 2018, which is the date as of which this Plan was adopted by the Board, subject to Section
3 of this Plan.

 

(o)         “Eligible
Director” means a person who is (i) a “non-employee director” within the meaning of Rule 16b-3 under
the Exchange Act, and (ii) an “outside director” within the meaning of Section 162(m) of the Code.

 

(p)         “Eligible
Person” means any (i) individual employed by the Company or an Affiliate; provided, however, that no such
employee covered by a collective bargaining agreement shall be an Eligible Person unless and to the extent that such eligibility
is set forth in such collective bargaining agreement or in an agreement or instrument relating thereto; (ii) director of the Company
or an Affiliate; or (iii) consultant or advisor to the Company or an Affiliate, provided that if the Securities Act applies such
persons must be eligible to be offered securities registrable on Form S-8 under the Securities Act.

 

(q)         “Exchange
Act” means the Securities Exchange Act of 1934, as amended, and any reference in this Plan to any section of (or
rule promulgated under) the Exchange Act shall be deemed to include any rules, regulations or other interpretative guidance under
such section or rule, and any amendments or successor provisions to such section, rules, regulations or guidance.

 

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(r)          “Exercise
Price” has the meaning given such term in Section 7(b) of this Plan.

 

(s)          “Fair
Market Value” means, as of any date when Common Shares are listed on one or more national securities exchanges,
the closing price reported on the principal national securities exchange on which such Common Shares are listed and traded on
the Date of Grant or, if the closing price is not reported on such date, the closing price reported on the most recent date prior
to the Date of Grant. If Common shares are not listed on a national securities exchange, Fair Market Value will be determined
by such other method as the Committee determines in good faith to be reasonable and in compliance with Code Section 409A.

 

(t)          “Immediate
Family Members” shall have the meaning set forth in Section 14(b) of this Plan.

 

(u)          “Incentive
Stock Option” means an Option that is designated by the Committee as an incentive stock option as described in Section
422 of the Code and otherwise meets the requirements set forth in this Plan.

 

(v)   
     “Indemnifiable Person” shall have the meaning set forth in
Section 4(e) of this Plan.

 

(w)         “Nonqualified
Stock Option” means an Option that is not designated by the Committee as an Incentive Stock Option.

 

(x)          “Option”
means an Award granted under Section 7 of this Plan.

 

(y)         “Option
Period” has the meaning given such term in Section 7(c) of this Plan.

 

(z)          
“Participant” means an Eligible Person who has been selected by the Committee to participate in this
Plan and to receive an Award pursuant to Section 6 of this Plan.

 

(aa)        “Participant
Agreement” means an employment or other services agreement between a Participant and the Company or an Affiliate
that describes the terms and conditions of such Participant’s employment or service with the Company or an Affiliate and
is in effect as of the date the Committee approves the grant of the applicable Award to the Participant.

 

(bb)       “Performance Criteria” means any of the following factors: (i) revenue; (ii) sales; (iii) profit (net
profit, gross profit, operating profit, economic profit, profit margins or other corporate profit measures); (iv) earnings (EBIT,
EBITDA, earnings per share, or other corporate earnings measures); (v) net income (before or after taxes, operating income or
other income measures); (vi) cash (cash flow, cash generation or other cash measures); (vii) stock price or performance; (viii)
total stockholder return (stock price appreciation plus reinvested dividends divided by beginning share price); (ix) economic
value added; (x) return measures (including, but not limited to, return on assets, capital, equity, investments or sales, and
cash flow return on assets, capital, equity, or sales); (xi) market share; (xii) improvements in capital structure; (xiii) expenses
(expense management, expense ratio, expense efficiency ratios or other expense measures); (xiv) business expansion or consolidation
(acquisitions and divestitures); (xv) internal rate of return or increase in net present value; (xvi) working capital targets
relating to inventory and/or accounts receivable; (xvii) inventory management; (xviii) service or product delivery or quality;
(xix) customer satisfaction; (xx) employee retention; (xxi) safety standards; (xxii) productivity measures; (xxiii) cost reduction
measures; and/or (xxiv) strategic plan development and implementation.

 

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(cc)        “Permitted
Transferee” shall have the meaning set forth in Section 15(b) of this Plan.

 

(dd)       “Person”
has the meaning given such term in the definition of “Change in Control.”

 

(ee)       “Plan”
means this Inspired Entertainment, Inc. 2018 Omnibus Incentive Plan, as amended from time to time.

 

(ff)         “Restricted
Period” means the period of time determined by the Committee during which an Award is subject to restrictions or,
as applicable, the period of time within which performance is measured for purposes of determining whether an Award has been earned.

 

(gg)       “Restricted
Stock Unit” means an unfunded and unsecured promise to deliver Common Shares, cash, other securities or other property,
subject to certain restrictions (including, without limitation, a requirement that the Participant remain continuously employed
or provide continuous services for a specified period of time), granted under Section 9 of this Plan.

 

(hh)       “Restricted
Stock” means Common Shares, subject to certain specified restrictions (including, without limitation, a requirement
that the Participant remain continuously employed or provide continuous services for a specified period of time), granted under
Section 9 of this Plan.

 

(ii)          “SAR
Period” has the meaning given such term in Section 8(c) of this Plan.

 

(jj)         “Securities
Act” means the Securities Act of 1933, as amended, and any successor thereto. Reference in this Plan to any section
of the Securities Act shall be deemed to include any rules, regulations or other official interpretative guidance under such section,
and any amendments or successor provisions to such section, rules, regulations or guidance.

 

(kk)        “Stock
Appreciation Right” or “SAR” means an Award granted under Section 8 of this Plan which
meets all of the requirements of Section 1.409A-1(b)(5)(i)(B) of the Treasury Regulations.

 

(ll)          “Stock
Bonus Award” means an Award granted under Section 10 of this Plan.

 

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(mm)      “Strike
Price” means, except as otherwise provided by the Committee in the case of Substitute Awards, (i) in the case of
a SAR granted in tandem with an Option, the Exercise Price of the related Option, or (ii) in the case of a SAR granted independent
of an Option, the Fair Market Value on the Date of Grant.

 

(nn)       “Subsidiary”
means, with respect to any specified Person:

 

(i)         any
corporation, association or other business entity of which more than 50% of the total voting power of shares of outstanding Company
Voting Securities (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’
agreement that effectively transfers voting power) is at the time owned or controlled, directly or indirectly, by that Person
or one or more of the other Subsidiaries of that Person (or a combination thereof); and

 

(ii)        any
partnership or limited liability company (or any comparable foreign entity) (a) the sole general partner or managing member (or
functional equivalent thereof) or the managing general partner of which is such Person or Subsidiary of such Person or (b) the
only general partners or managing members (or functional equivalents thereof) of which are that Person or one or more Subsidiaries
of that Person (or any combination thereof).

 

(oo)       “Substitute
Award” has the meaning given such term in Section 5(e).

 

(pp)       “Treasury
Regulations” means any regulations, whether proposed, temporary or final, promulgated by the U.S. Department of
Treasury under the Code, and any successor provisions.

 

3.             Effective
Date; Duration. The Plan shall be effective as of the Effective Date, subject to approval by the stockholders of the Company,
which approval shall be within twelve (12) months after the date this Plan is adopted by the Board. The expiration date of this
Plan, on and after which date no Awards may be granted hereunder, shall be the tenth anniversary of the Effective Date; provided,
however, that such expiration shall not affect Awards then outstanding, and the terms and conditions of this Plan shall
continue to apply to such Awards.

 

4.             Administration.

 

(a)          The
Committee shall administer this Plan. To the extent required to comply with the provisions of Rule 16b-3 promulgated under the
Exchange Act (if the Board is not acting as the Committee under this Plan), it is intended that each member of the Committee shall,
at the time he takes any action with respect to an Award under this Plan, be an Eligible Director. However, the fact that a Committee
member shall fail to qualify as an Eligible Director shall not invalidate any Award granted by the Committee that is otherwise
validly granted under this Plan. The acts of a majority of the members present at any meeting at which a quorum is present or
acts approved in writing by a majority of the Committee shall be deemed the acts of the Committee. Whether a quorum is present
shall be determined based on the Committee’s charter as approved by the Board.

 

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(b)         Subject
to the provisions of this Plan and applicable law, the Committee shall have the sole and plenary authority, in addition to other
express powers and authorizations conferred on the Committee by this Plan and its charter, to: (i) designate Participants; (ii)
determine the type or types of Awards to be granted to a Participant; (iii) determine the number of Common Shares to be covered
by, or with respect to which payments, rights, or other matters are to be calculated in connection with, Awards; (iv) determine
the terms and conditions of any Award, including, without limitation, vesting terms and conditions for any Award hereunder which
may include the achievement of any Performance Criteria selected by the Committee; (v) determine whether, to what extent, and
under what circumstances Awards may be settled or exercised in cash, Common Shares, other securities, other Awards or other property,
or canceled, forfeited, or suspended, and the method or methods by which Awards may be settled, exercised, canceled, forfeited,
or suspended; (vi) determine whether, to what extent, and under what circumstances the delivery of cash, Common Shares, other
securities, other Awards or other property and other amounts payable with respect to an Award shall be made; (vii) interpret,
administer, reconcile any inconsistency in, settle any controversy regarding, correct any defect in and/or complete any omission
in this Plan and any instrument or agreement relating to, or Award granted under, this Plan; (viii) establish, amend, suspend,
or waive any rules and regulations and appoint such agents as the Committee shall deem appropriate for the proper administration
of this Plan; (ix) accelerate the vesting or exercisability of, payment for or lapse of restrictions on, Awards; (x) reprice existing
Awards or to grant Awards in connection with or in consideration of the cancellation of an outstanding Award with a higher price;
and (xi) make any other determination and take any other action that the Committee deems necessary or desirable for the administration
of this Plan.

 

(c)          The
Committee may, by resolution, expressly delegate to a special committee, consisting of one or more directors who may but need
not be officers of the Company, the authority, within specified parameters as to the number and types of Awards, to (i) designate
officers and/or employees of the Company or any of its Affiliates to be recipients of Awards under this Plan, and (ii) to determine
the number of such Awards to be received by any such Participants; provided, however, that such delegation of duties and responsibilities
may not be made with respect to grants of Awards to persons subject to Section 16 of the Exchange Act. The acts of such delegates
shall be treated as acts of the Committee, and such delegates shall report regularly to the Board and the Committee regarding
the delegated duties and responsibilities and any Awards granted.

 

(d)         Unless
otherwise expressly provided in this Plan, all designations, determinations, interpretations, and other decisions under or with
respect to this Plan or any Award or any documents evidencing Awards granted pursuant to this Plan shall be within the sole discretion
of the Committee, may be made at any time and shall be final, conclusive and binding upon all persons or entities, including,
without limitation, the Company, any Affiliate, any Participant, any holder or beneficiary of any Award, and any stockholder of
the Company.

 

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(e)          No
member of the Board, the Committee, delegate of the Committee or any employee, advisor or agent of the Company or the Board or
the Committee (each such person, an “Indemnifiable Person”) shall be liable for any action taken or
omitted to be taken or any determination made in good faith with respect to this Plan or any Award hereunder. Each Indemnifiable
Person shall be indemnified and held harmless by the Company against and from (and the Company shall pay or reimburse on demand
for) any loss, cost, liability, or expense (including court costs and attorneys’ fees) that may be imposed upon or incurred
by such Indemnifiable Person in connection with or resulting from any action, suit or proceeding to which such Indemnifiable Person
may be a party or in which such Indemnifiable Person may be involved by reason of any action taken or omitted to be taken under
this Plan or any Award Agreement and against and from any and all amounts paid by such Indemnifiable Person with the Company’s
approval, in settlement thereof, or paid by such Indemnifiable Person in satisfaction of any judgment in any such action, suit
or proceeding against such Indemnifiable Person, provided, that the Company shall have the right, at its own expense, to
assume and defend any such action, suit or proceeding and once the Company gives notice of its intent to assume the defense, the
Company shall have sole control over such defense with counsel of the Company’s choice. The foregoing right of indemnification
shall not be available to an Indemnifiable Person to the extent that a final judgment or other final adjudication (in either case
not subject to further appeal) binding upon such Indemnifiable Person determines that the acts or omissions of such Indemnifiable
Person giving rise to the indemnification claim resulted from such Indemnifiable Person’s bad faith, fraud or willful criminal
act or omission or that such right of indemnification is otherwise prohibited by law or by the Company’s Certificate of
Incorporation or Bylaws. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification
to which any such Indemnifiable Person may be entitled under the Company’s Certificate of Incorporation or Bylaws, as a
matter of law, or otherwise, or any other power that the Company may have to indemnify such Indemnifiable Persons or hold them
harmless.

 

(f)          Notwithstanding
anything to the contrary contained in this Plan, the Board may, in its sole discretion, at any time and from time to time, grant
Awards and administer this Plan with respect to such Awards. In any such case, the Board shall have all the authority granted
to the Committee under this Plan.

 

5.            Grant
of Awards; Shares Subject to this Plan; Limitations.

 

(a)          The
Committee may, from time to time, grant Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, and/or Stock
Bonus Awards to one or more Eligible Persons. Subject to Section 12 of this Plan, the Committee is authorized to deliver under
this Plan an aggregate of 2,550,000 Common Shares. Notwithstanding the foregoing, a director of the Company or an Affiliate who
is not an employee of the Company or an Affiliate may not be granted Awards denominated in Common Shares, the aggregate Date of
Grant Fair Market Value of which exceeds, in any calendar year, $250,000; provided, that the foregoing limitation shall not apply
to any Award made pursuant to an election by a director to receive an Award in lieu of all or a portion of the annual and/or committee
retainers and annual meeting fee payable to such director.

 

(b)         Common
Shares underlying Awards under this Plan that are forfeited, cancelled, expire unexercised, or are settled in cash shall be available
again for Awards under this Plan at the same ratio at which they were previously granted. Notwithstanding the foregoing, the following
Common Shares shall not be available again for Awards under the Plan: (i) shares tendered or held back upon the exercise of an
Option or settlement of an Award to cover the Exercise Price of an Award; (ii) shares that are used or withheld to satisfy tax
withholding obligations of the Participant; and (iii) shares subject to a Stock Appreciation Right that are not issued in connection
with the stock settlement of the SAR upon exercise thereof.

 

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(c)          Awards
that do not entitle the holder thereof to receive or purchase Common Shares shall not be counted against the aggregate number
of Common Shares available for Awards under the Plan.

 

(d)         Common
Shares delivered by the Company in settlement of Awards may be authorized and unissued shares, shares held in the treasury of
the Company, shares purchased on the open market or by private purchase, or any combination of the foregoing.

 

(e)          Subject
to compliance with Section 1.409A-3(f) of the Treasury Regulations, Awards may, in the sole discretion of the Committee, be granted
under this Plan in assumption of, or in substitution for, outstanding awards previously granted by an entity acquired by the Company
or with which the Company combines (“Substitute Awards”). The number of Common Shares underlying any
Substitute Awards shall be counted against the aggregate number of Common Shares available for Awards under this Plan; provided,
however that Common Shares issued under Substitute Awards granted in substitution for awards previously granted by an entity that
is acquired by or merged with the Company or an Affiliate shall not be counted against the aggregate number of Common Shares available
for Awards under the Plan.

 

6.             Eligibility.
Participation shall be limited to Eligible Persons who have entered into an Award Agreement or who have received written notification
from the Committee, or from a person designated by the Committee, that they have been selected to participate in this Plan.

 

7.            Options.

 

(a)          Generally.
Each Option granted under this Plan shall be evidenced by an Award Agreement (whether in paper or electronic medium (including
email or the posting on a web site maintained by the Company or a third party under contract with the Company)). Each Option so
granted shall be subject to the conditions set forth in this Section 7, and to such other conditions not inconsistent with this
Plan as may be reflected in the applicable Award Agreement. All Options granted under this Plan shall be Nonqualified Stock Options
unless the applicable Award Agreement expressly states that the Option is intended to be an Incentive Stock Option. Notwithstanding
any designation of an Option, to the extent that the aggregate Fair Market Value of Common Shares with respect to which Options
designated as Incentive Stock Options are exercisable for the first time by any Participant during any calendar year (under all
plans of the Company or any Subsidiary) exceeds $100,000, such excess Options shall be treated as Nonqualified Stock Options.
Incentive Stock Options shall be granted only to Eligible Persons who are employees of the Company and its Affiliates, and no
Incentive Stock Option shall be granted to any Eligible Person who is ineligible to receive an Incentive Stock Option under the
Code. No Option shall be treated as an Incentive Stock Option unless this Plan has been approved by the stockholders of the Company
in a manner intended to comply with the stockholder approval requirements of Section 422(b)(1) of the Code, provided that any
Option intended to be an Incentive Stock Option shall not fail to be effective solely on account of a failure to obtain such approval,
but rather such Option shall be treated as a Nonqualified Stock Option unless and until such approval is obtained. In the case
of an Incentive Stock Option, the terms and conditions of such grant shall be subject to and comply with such rules as may be
prescribed by Section 422 of the Code. If for any reason an Option intended to be an Incentive Stock Option (or any portion thereof)
shall not qualify as an Incentive Stock Option, then, to the extent of such nonqualification, such Option or portion thereof shall
be regarded as a Nonqualified Stock Option appropriately granted under this Plan.

 

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(b)         Exercise
Price. The exercise price (“Exercise Price”) per Common Share for each Option shall not be less
than 100% of the Fair Market Value of such share determined as of the Date of Grant; provided, however, that in the case
of an Incentive Stock Option granted to an employee who, at the time of the grant of such Option, owns shares representing more
than 10% of the voting power of all classes of shares of the Company or any Affiliate, the Exercise Price per share shall not
be less than 110% of the Fair Market Value per share on the Date of Grant.

 

(c)         Vesting
and Expiration. Options shall vest and become exercisable in such manner and on such date or dates determined by the Committee
and as set forth in the applicable Award Agreement, and shall expire after such period, not to exceed ten (10) years from the
Date of Grant, as may be determined by the Committee (the “Option Period”); provided, however,
that the Option Period shall not exceed five (5) years from the Date of Grant in the case of an Incentive Stock Option granted
to a Participant who on the Date of Grant owns shares representing more than 10% of the voting power of all classes of shares
of the Company or any Affiliate; and, provided, further, that notwithstanding any vesting dates set by the
Committee, the Committee may, in its sole discretion, accelerate the exercisability of any Option, which acceleration shall not
affect the terms and conditions of such Option other than with respect to exercisability. Unless otherwise provided by the Committee
in an Award Agreement:

 

(i)         an
Option shall vest and become exercisable with respect to one-third of the Common Shares subject to such Option on each of the
first three anniversaries of the Date of Grant; provided, however, that the Committee may designate a purchase
price below Fair Market Value on the date of grant if the Option is granted in substitution for a stock option previously granted
by an entity that is acquired by or merged with the Company or an Affiliate;

 

(ii)        the
unvested portion of an Option shall expire upon termination of employment or service of the Participant granted the Option, and
the vested portion of such Option shall remain exercisable for:

 

(A)       one
year following termination of employment or service by reason of such Participant’s death or Disability (with the determination
of Disability to be made by the Committee on a case by case basis), but not later than the expiration of the Option Period; and

 

(B)        90
calendar days following termination of employment or service for any reason other than such Participant’s death or Disability,
and other than such Participant’s termination of employment or service for Cause, but not later than the expiration of the
Option Period; and

 

(iii)       both
the unvested and the vested portion of an Option shall immediately expire upon the termination of the Participant’s employment
or service by the Company for Cause.

 

    11 

     

    

 

Notwithstanding
the foregoing provisions of Section 7(c) and consistent with the requirements of applicable law, the Committee, in its sole discretion,
may extend the post-termination of employment period during which a Participant may exercise vested Options.

 

(d)         Method
of Exercise and Form of Payment. No Common Shares shall be delivered pursuant to the exercise of an Option until payment
in full of the Exercise Price therefor is received by the Company and the Participant has paid to the Company an amount equal
to any applicable federal, state, local and/or foreign income and employment taxes withheld. Options that have become exercisable
may be exercised by delivery of written or electronic notice of exercise to the Company in accordance with the terms of the Award
Agreement accompanied by payment of the Exercise Price. The Exercise Price shall be payable (i) in cash, check (subject to collection),
cash equivalent and/or vested Common Shares valued at the Fair Market Value at the time the Option is exercised (including, pursuant
to procedures approved by the Committee, by means of attestation of ownership of a sufficient number of Common Shares in lieu
of actual delivery of such shares to the Company); provided, however, that such Common Shares are not subject
to any pledge or other security interest; and (ii) by such other method as the Committee may permit in accordance with applicable
law, in its sole discretion, including without limitation: (A) in other property having a fair market value (as determined by
the Committee in its discretion) on the date of exercise equal to the Exercise Price or (B) if there is a public market for the
Common Shares at such time, by means of a broker-assisted “cashless exercise” pursuant to which the Company is delivered
a copy of irrevocable instructions to a stockbroker to sell the Common Shares otherwise deliverable upon the exercise of the Option
and to deliver promptly to the Company an amount equal to the Exercise Price or (C) by a “net exercise” method whereby
the Company withholds from the delivery of the Common Shares for which the Option was exercised that number of Common Shares having
a Fair Market Value equal to the aggregate Exercise Price for the Common Shares for which the Option was exercised. Any fractional
Common Shares shall be settled in cash.

 

(e)          Notification
upon Disqualifying Disposition of an Incentive Stock Option. Each Participant awarded an Incentive Stock Option under
this Plan shall notify the Company in writing immediately after the date he makes a disqualifying disposition of any Common Shares
acquired pursuant to the exercise of such Incentive Stock Option. A disqualifying disposition is any disposition (including, without
limitation, any sale) of such Common Shares before the later of (A) two years after the Date of Grant of the Incentive Stock Option
or (B) one year after the transfer of such Common Shares to the Participant pursuant to his exercise of the Incentive Stock Option.
The Company may, if determined by the Committee and in accordance with procedures established by the Committee, retain possession
of any Common Shares acquired pursuant to the exercise of an Incentive Stock Option as agent for the applicable Participant until
the end of the period described in the preceding sentence.

 

(f)          Compliance
with Laws, etc. Notwithstanding the foregoing, in no event shall a Participant be permitted to exercise an Option in a
manner that the Committee determines would violate the Sarbanes-Oxley Act of 2002, if applicable, or any other applicable law
or the applicable rules and regulations of the Securities and Exchange Commission or the applicable rules and regulations of any
securities exchange or inter-dealer quotation system on which the securities of the Company are listed or traded.

 

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8.             Stock
Appreciation Rights.

 

(a)          Generally.
Each SAR granted under this Plan shall be evidenced by an Award Agreement (whether in paper or electronic medium (including email
or the posting on a web site maintained by the Company or a third party under contract with the Company)). Each SAR so granted
shall be subject to the conditions set forth in this Section 8, and to such other conditions not inconsistent with this Plan as
may be reflected in the applicable Award Agreement. Any Option granted under this Plan may include tandem SARs (i.e., SARs granted
in conjunction with an Award of Options under this Plan). The Committee also may award SARs to Eligible Persons independent of
any Option.

 

(b)         Exercise
Price. The Exercise Price per Common Share for each Option granted in connection with a SAR shall not be less than 100%
of the Fair Market Value of such share determined as of the Date of Grant; provided, however, that the Committee may designate
a purchase price below Fair Market Value on the date of grant if the SAR is granted in substitution for an appreciation right
previously granted by an entity that is acquired by or merged with the Company or an Affiliate.

 

(c)         Vesting
and Expiration. A SAR granted in connection with an Option shall become exercisable and shall expire according to the
same vesting schedule and expiration provisions as the corresponding Option. A SAR granted independent of an Option shall vest
and become exercisable and shall expire in such manner and on such date or dates determined by the Committee and shall expire
after such period, not to exceed ten years, as may be determined by the Committee (the “SAR Period”);
provided, however, that notwithstanding any vesting dates set by the Committee, the Committee may, in its
sole discretion, accelerate the exercisability of any SAR, which acceleration shall not affect the terms and conditions of such
SAR other than with respect to exercisability. Unless otherwise provided by the Committee in an Award Agreement:

 

(i)         a
SAR shall vest and become exercisable with respect to one-third of the Common Shares subject to such SAR on each of the first
three anniversaries of the Date of Grant;

 

(ii)        the
unvested portion of a SAR shall expire upon termination of employment or service of the Participant granted the SAR, and the vested
portion of such SAR shall remain exercisable for:

 

(A)       one
year following termination of employment or service by reason of such Participant’s death or Disability (with the determination
of Disability to be made by the Committee on a case by case basis), but not later than the expiration of the SAR Period; and

 

(B)        90
calendar days following termination of employment or service for any reason other than such Participant’s death or Disability,
and other than such Participant’s termination of employment or service for Cause, but not later than the expiration of the
SAR Period; and

 

(iii)       both
the unvested and the vested portion of a SAR shall expire immediately upon the termination of the Participant’s employment
or service by the Company for Cause.

 

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(d)         Method
of Exercise. SARs that have become exercisable may be exercised by delivery of written or electronic notice of exercise
to the Company in accordance with the terms of the Award, specifying the number of SARs to be exercised and the date on which
such SARs were awarded. Notwithstanding the foregoing, if on the last day of the Option Period (or in the case of a SAR independent
of an Option, the SAR Period), the Fair Market Value exceeds the Strike Price, the Participant has not exercised the SAR or the
corresponding Option (if applicable), and neither the SAR nor the corresponding Option (if applicable) has expired, such SAR shall
be deemed to have been exercised by the Participant on such last day and the Company shall make the appropriate payment therefor.

 

(e)          Payment.
Upon the exercise of a SAR, the Company shall pay to the Participant an amount equal to the number of Common Shares subject to
the SAR that are being exercised multiplied by the excess, if any, of the Fair Market Value of one Common Share on the exercise
date over the Strike Price, less an amount equal to any applicable federal, state, local and non-U.S. income and employment taxes
withheld. The Company shall pay such amount in cash, in Common Shares valued at Fair Market Value, or any combination thereof,
as determined by the Committee. Any fractional Common Share shall be settled in cash.

 

9.             Restricted
Stock and Restricted Stock Units.

 

(a)          Generally.
Each grant of Restricted Stock and Restricted Stock Units shall be evidenced by an Award Agreement (whether in paper or electronic
medium (including email or the posting on a web site maintained by the Company or a third party under contract with the Company)).
Each such grant shall be subject to the conditions set forth in this Section 9, and to such other conditions not inconsistent
with this Plan as may be reflected in the applicable Award Agreement. Restricted Stock and Restricted Stock Units shall be subject
to such restrictions on transferability and other restrictions as the Committee may impose (including, for example, limitations
on the right to vote Restricted Stock or the right to receive dividends on the Restricted Stock). These restrictions may lapse
separately or in combination at such times, under such circumstances, in such installments, upon the satisfaction of performance
goals or otherwise, as the Committee determines at the time of the grant of an Award or thereafter. Except as otherwise provided
in an Award Agreement, a Participant shall have none of the rights of a stockholder with respect to Restricted Stock Units until
such time as Common Shares are paid in settlement of such Awards.

 

(b)          Restricted
Accounts; Escrow or Similar Arrangement. Unless otherwise determined by the Committee, upon the grant of Restricted Stock,
a book entry in a restricted account shall be established in the Participant’s name at the Company’s transfer agent
and, if the Committee determines that the Restricted Stock shall be held by the Company or in escrow rather than held in such
restricted account pending the release of the applicable restrictions, the Committee may require the Participant to additionally
execute and deliver to the Company (i) an escrow agreement satisfactory to the Committee, if applicable, and (ii) the appropriate
share power (endorsed in blank) with respect to the Restricted Stock covered by such agreement. If a Participant shall fail to
execute an agreement evidencing an Award of Restricted Stock and, if applicable, an escrow agreement and blank share power within
the amount of time specified by the Committee, the Award shall be null and void ab initio. Subject to the restrictions
set forth in this Section 9 and the applicable Award Agreement, the Participant generally shall have the rights and privileges
of a stockholder as to such Restricted Stock, including without limitation the right to vote such Restricted Stock and the right
to receive dividends, if applicable. To the extent shares of Restricted Stock are forfeited, any share certificates issued to
the Participant evidencing such shares shall be returned to the Company, and all rights of the Participant to such shares and
as a stockholder with respect thereto shall terminate without further obligation on the part of the Company.

 

    14 

     

    

 

(c)         Vesting;
Acceleration of Lapse of Restrictions. Unless otherwise provided by the Committee in an Award Agreement: (i) the Restricted
Period shall lapse with respect to one-third of the Restricted Stock and Restricted Stock Units on each of the first three anniversaries
of the Date of Grant; and (ii) the unvested portion of Restricted Stock and Restricted Stock Units shall terminate and be forfeited
upon the termination of employment or service of the Participant granted the applicable Award.

 

(d)         Delivery
of Restricted Stock and Settlement of Restricted Stock Units.

 

(i)        
Upon the expiration of the Restricted Period with respect to any shares of Restricted Stock, the restrictions set forth in the
applicable Award Agreement shall be of no further force or effect with respect to such shares, except as set forth in the applicable
Award Agreement. If an escrow arrangement is used, upon such expiration, the Company shall deliver to the Participant, or his
beneficiary, without charge, the share certificate evidencing the shares of Restricted Stock that have not then been forfeited
and with respect to which the Restricted Period has expired (rounded down to the nearest full share). Dividends, if any, that
may have been withheld by the Committee and attributable to any particular share of Restricted Stock shall be distributed to the
Participant in cash or, at the sole discretion of the Committee, in shares of Common Stock having a Fair Market Value equal to
the amount of such dividends, upon the release of restrictions on such shares of Restricted Stock and, if such shares of Restricted
Stock are forfeited, the Participant shall have no right to such dividends (except as otherwise set forth by the Committee in
the applicable Award Agreement).

 

(ii)        Unless
otherwise provided by the Committee in an Award Agreement, upon the expiration of the Restricted Period with respect to any outstanding
Restricted Stock Units and no later than the 75th day of the calendar year following the calendar year in which such
expiration occurs, the Company shall deliver to the Participant, or his beneficiary, without charge, one Common Share for each
such outstanding Restricted Stock Unit; provided, however, that the Committee may, in its sole discretion
and subject to the requirements of Section 409A of the Code, elect to (i) pay cash or part cash and part Common Share in lieu
of delivering only Common Shares in respect of such Restricted Stock Units or (ii) defer the delivery of Common Shares (or cash
or part Common Shares and part cash, as the case may be) beyond the 75th day of the calendar year following the calendar
year in which the expiration of the Restricted Period occurs if such delivery would result in a violation of applicable law until
such time as is no longer the case. If a cash payment is made in lieu of delivering Common Shares, the amount of such payment
shall be equal to the Fair Market Value of the Common Shares as of the date on which the Restricted Period lapsed with respect
to such Restricted Stock Units, less an amount equal to any applicable federal, state, local and non-U.S. income and employment
taxes withheld. Notwithstanding anything contained herein to the contrary, the Committee in an Award Agreement may, in a manner
consistent with the applicable requirements of Section 409A of the Code, enable a Participant to elect to defer the date on which
settlement of the Restricted Stock Units shall occur.

 

    15 

     

    

 

10.           Stock
Bonus Awards. The Committee may issue unrestricted Common Shares, or other Awards denominated in Common Shares, under this
Plan to Eligible Persons, either alone or in tandem with other awards, in such amounts as the Committee shall from time to time
in its sole discretion determine. Each Stock Bonus Award granted under this Plan shall be evidenced by an Award Agreement (whether
in paper or electronic medium (including email or the posting on a web site maintained by the Company or a third party under contract
with the Company)). Each Stock Bonus Award so granted shall be subject to such conditions not inconsistent with this Plan as may
be reflected in the applicable Award Agreement.

 

11.           Changes
in Capital Structure and Similar Events. In the event of (a) any dividend or other distribution (whether in the form of cash,
Common Shares, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger,
amalgamation, consolidation, split-up, split-off, combination, repurchase or exchange of Common Shares or other securities of
the Company, issuance of warrants or other rights to acquire Common Shares or other securities of the Company, or other similar
corporate transaction or event (including, without limitation, a Change in Control) that affects the Common Shares, or (b) unusual
or nonrecurring events (including, without limitation, a Change in Control) affecting the Company, any Affiliate, or the financial
statements of the Company or any Affiliate, or changes in applicable rules, rulings, regulations or other requirements of any
governmental body or securities exchange or inter-dealer quotation system, accounting principles or law, such that in either case
an adjustment is determined by the Committee in its sole discretion to be necessary or appropriate in order to prevent dilution
or enlargement of rights, then the Committee shall make any such adjustments that are equitable, including without limitation
any or all of the following:

 

(i)         adjusting
any or all of (A) the number of Common Shares or other securities of the Company (or number and kind of other securities or other
property) that may be delivered in respect of Awards or with respect to which Awards may be granted under this Plan (including,
without limitation, adjusting any or all of the limitations under Section 5 of this Plan) and (B) the terms of any outstanding
Award, including, without limitation, (1) the number of Common Shares or other securities of the Company (or number and kind of
other securities or other property) subject to outstanding Awards or to which outstanding Awards relate, (2) the Exercise Price
or Strike Price with respect to any Award or (3) any applicable performance measures;

 

(ii)        subject
to the requirements of Section 409A of the Code, providing for a substitution or assumption of Awards, accelerating the exercisability
of, lapse of restrictions on, or termination of, Awards or providing for a period of time for exercise prior to the occurrence
of such event; and

 

    16 

     

    

 

(iii)       subject
to the requirements of Section 409A of the Code, canceling any one or more outstanding Awards and causing to be paid to the holders
thereof, in cash, Common Shares, other securities or other property, or any combination thereof, the value of such Awards, if
any, as determined by the Committee (which if applicable may be based upon the price per Common Share received or to be received
by other stockholders of the Company in such event), including without limitation, in the case of an outstanding Option or SAR,
a cash payment in an amount equal to the excess, if any, of the Fair Market Value (as of a date specified by the Committee) of
the Common Shares subject to such Option or SAR over the aggregate Exercise Price or Strike Price of such Option or SAR, respectively
(it being understood that, in such event, any Option or SAR having a per share Exercise Price or Strike Price equal to, or in
excess of, the Fair Market Value of a Common Share subject thereto may be canceled and terminated without any payment or consideration
therefor); provided, however, that in the case of any “equity restructuring” (within the meaning
of the FASB Statement of Financial Accounting Standards No. 123 (revised 2004) or ASC Topic 718, or any successor thereto), the
Committee shall make an equitable or proportionate adjustment to outstanding Awards to reflect such equity restructuring. Any
adjustment in Incentive Stock Options under this Section 11 (other than any cancellation of Incentive Stock Options) shall be
made only to the extent not constituting a “modification” within the meaning of Section 424(h)(3) of the Code, and
any adjustments under this Section 11 shall be made in a manner that does not adversely affect the exemption provided pursuant
to Rule 16b-3 under the Exchange Act. The Company shall give each Participant notice of an adjustment hereunder and, upon notice,
such adjustment shall be conclusive and binding for all purposes.

 

12.          Change
in Control Provisions. Except to the extent provided in an Award Agreement or otherwise by the Committee in accordance with its
authority under Section 4, in the event of a Participant’s termination of employment or service without Cause by
the Company or an Affiliate within the twelve (12) month period immediately following a Change in Control (such that the Participant’s
Awards would otherwise be cancelled (e.g., not be retained in accordance with Section 14(g)), notwithstanding any provision of
this Plan to the contrary, with respect to all or any portion of the Participant’s particular outstanding Award or
Awards, the following shall apply: 

 

(a)          any
unvested Options and SARs held by the Participant shall become vested and exercisable on the effective date of such termination;
and

 

(b)         the
Restricted Period applicable to any unvested Restricted Stock, Restricted Stock Units or other Awards held by the Participant
shall expire (including without limitation any applicable performance conditions) and such Awards shall be deemed vested on the
effective date of such termination.

 

The
Committee shall also have discretion, in the event of a Change in Control, and subject to the terms of any applicable Award Agreement
and compliance with the requirements of Section 409A of the Code, to accelerate the vesting, payment or right to exercise of any
Award effective immediately upon the occurrence of the Change in Control and cause the restrictions and forfeiture conditions
applicable to any Award to lapse and deem such Awards fully vested and any performance conditions imposed with respect to Awards
to be fully achieved.

 

    17 

     

    

 

13.           Amendments
and Termination.

 

(a)
        Amendment and Termination of this Plan. The Board may amend, alter, suspend,
discontinue, or terminate this Plan or any portion thereof at any time; provided, that (i) no amendment to the definition
of Eligible Person in Section 2(p), Section 5(b), or Section 13(b) (to the extent required by the proviso in such Section 13(b))
shall be made without stockholder approval and (ii) no such amendment, alteration, suspension, discontinuation or termination
shall be made without stockholder approval if such approval is necessary to comply with any tax or regulatory requirement applicable
to this Plan (including, without limitation, as necessary to comply with any rules or requirements of any national securities
exchange or inter-dealer quotation system on which the Common Shares may be listed or quoted); and, provided, further,
that any such amendment, alteration, suspension, discontinuance or termination that would materially and adversely affect the
rights of any Participant or any holder or beneficiary of any Award theretofore granted shall not to that extent be effective
without the prior written consent of the affected Participant, holder or beneficiary.

 

(b)         Amendment
of Award Agreements. The Committee may, to the extent consistent with the terms of any applicable Award Agreement, waive
any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate, any Award theretofore
granted or the associated Award Agreement, prospectively or retroactively; provided, however, that any such
waiver, amendment, alteration, suspension, discontinuance, cancellation or termination that would materially and adversely affect
the rights of any Participant with respect to any Award theretofore granted shall not to that extent be effective without the
consent of the affected Participant.

 

14.          General.

 

(a)
        Award Agreements. Each Award under this Plan shall be evidenced by an
Award Agreement, which shall be delivered to the Participant (whether in paper or electronic medium (including email or the posting
on a web site maintained by the Company or a third party under contract with the Company)) and shall specify the terms and conditions
of the Award and any rules applicable thereto, including without limitation, the effect on such Award of the death, Disability
or termination of employment or service of a Participant, or of such other events as may be determined by the Committee. The Company’s
failure to specify any term of any Award in any particular Award Agreement shall not invalidate such term, provided such terms
was duly adopted by the Board or the Committee.

 

(b)         Nontransferability;
Trading Restrictions.

 

(i)         Each
Award shall be exercisable only by a Participant during the Participant’s lifetime, or, if permissible under applicable
law, by the Participant’s legal guardian or representative. No Award may be assigned, alienated, pledged, attached, sold
or otherwise transferred or encumbered by a Participant other than by will or by the laws of descent and distribution and any
such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against
the Company or an Affiliate; provided that the designation of a beneficiary shall not constitute an assignment, alienation, pledge,
attachment, sale, transfer or encumbrance.

 

    18 

     

    

 

(ii)        Notwithstanding
the foregoing, the Committee may, in its sole discretion, permit Awards (other than Incentive Stock Options) to be transferred
by a Participant, with or without consideration, subject to such rules as the Committee may adopt consistent with any applicable
Award Agreement to preserve the purposes of this Plan, to: (A) any person who is a “family member” of the Participant,
as such term is used in the instructions to Form S-8 under the Securities Act (collectively, the “Immediate Family
Members”); (B) a trust solely for the benefit of the Participant and his Immediate Family Members; (C) a partnership
or limited liability company whose only partners or stockholders are the Participant and his Immediate Family Members; or (D)
any other transferee as may be approved either (I) by the Board or the Committee in its sole discretion, or (II) as provided in
the applicable Award Agreement (each transferee described in clauses (A), (B), (C) and (D) above is hereinafter referred to as
a “Permitted Transferee”); provided, that the Participant gives the Committee advance written
notice describing the terms and conditions of the proposed transfer and the Committee notifies the Participant in writing that
such a transfer would comply with the requirements of this Plan.

 

(iii)       The
terms of any Award transferred in accordance with subparagraph (ii) above shall apply to the Permitted Transferee and any reference
in this Plan, or in any applicable Award Agreement, to a Participant shall be deemed to refer to the Permitted Transferee, except
that (A) Permitted Transferees shall not be entitled to transfer any Award, other than by will or the laws of descent and distribution;
(B) Permitted Transferees shall not be entitled to exercise any transferred Option unless there shall be in effect a registration
statement on an appropriate form covering the Common Shares to be acquired pursuant to the exercise of such Option if the Committee
determines, consistent with any applicable Award Agreement, that such a registration statement is necessary or appropriate; (C)
the Committee or the Company shall not be required to provide any notice to a Permitted Transferee, whether or not such notice
is or would otherwise have been required to be given to the Participant under this Plan or otherwise; and (D) the consequences
of the termination of the Participant’s employment by, or services to, the Company or an Affiliate under the terms of this
Plan and the applicable Award Agreement shall continue to be applied with respect to the Participant, including, without limitation,
that an Option shall be exercisable by the Permitted Transferee only to the extent, and for the periods, specified in this Plan
and the applicable Award Agreement.

 

(iv)       The
Committee shall have the right, either on an Award-by-Award basis or as a matter of policy for all Awards or one or more classes
of Awards, to condition the delivery of vested Common Shares received in connection with such Award on the Participant’s
agreement to such restrictions as the Committee may determine.

 

(c)          Tax
Withholding.

 

(i)         A
Participant shall be required to pay to the Company or any Affiliate, or the Company or any Affiliate shall have the right and
is hereby authorized to withhold, from any cash, Common Shares, other securities or other property deliverable under any Award
or from any compensation or other amounts owing to a Participant, the amount (in cash, Common Shares, other securities or other
property) of any required withholding taxes in respect of an Award, its exercise, or any payment or transfer under an Award or
under this Plan and to take such other action as may be necessary in the opinion of the Committee or the Company to satisfy all
obligations for the payment of such withholding and taxes. In addition, the Committee, in its discretion, may make arrangements
mutually agreeable with a Participant who is not an employee of the Company or an Affiliate to facilitate the payment of applicable
income and self-employment taxes.

 

    19 

     

    

 

(ii)        Without
limiting the generality of clause (i) above, the Committee may, in its sole discretion, permit a Participant to satisfy, in whole
or in part, the foregoing withholding liability by (A) the delivery of Common Shares (which are not subject to any pledge or other
security interest) owned by the Participant having a fair market value equal to such withholding liability or (B) having the Company
withhold from the number of Common Shares otherwise issuable or deliverable pursuant to the exercise or settlement of the Award
a number of shares with a fair market value equal to such withholding liability (but no more than the maximum individual statutory
rate for the applicable tax jurisdiction).

 

(d)  
      No Claim to Awards; No Rights to Continued Employment; Waiver. No employee of the
Company or an Affiliate, or other person, shall have any claim or right to be granted an Award under this Plan or, having
been selected for the grant of an Award, to be selected for a grant of any other Award. There is no obligation for uniformity
of treatment of Participants or holders or beneficiaries of Awards. The terms and conditions of Awards and the
Committee’s determinations and interpretations with respect thereto need not be the same with respect to each
Participant and may be made selectively among Participants, whether or not such Participants are similarly situated. Neither
this Plan nor any action taken hereunder shall be construed as giving any Participant any right to be retained in the employ
or service of the Company or an Affiliate, nor shall it be construed as giving any Participant any rights to continued
service on the Board. The Company or any of its Affiliates may at any time dismiss a Participant from employment or
discontinue any consulting relationship, free from any liability or any claim under this Plan, unless otherwise expressly
provided in this Plan or any Award Agreement. By accepting an Award under this Plan, a Participant shall thereby be deemed to
have waived any claim to continued exercise or vesting of an Award or to damages or severance entitlement related to
non-continuation of the Award beyond the period provided under this Plan or any Award Agreement, notwithstanding any
provision to the contrary in any written employment contract or other agreement between the Company and its Affiliates and
the Participant, whether any such agreement is executed before, on or after the Date of Grant.

 

(e)         International
Participants. With respect to Participants who reside or work outside of the United States of America, the Committee may
in its sole discretion amend the terms of this Plan or outstanding Awards (or establish a sub-plan) with respect to such Participants
in order to conform such terms with the requirements of local law or to obtain more favorable tax or other treatment for such
Participants, the Company or its Affiliates.

 

(f)          Designation
and Change of Beneficiary. Unless otherwise provided by the Committee in an Award Agreement, each Participant may file
with the Committee a written designation of one or more persons as the beneficiary(ies) who shall be entitled to receive the amounts
payable with respect to an Award, if any, due under this Plan upon his death. A Participant may, from time to time, revoke or
change his beneficiary designation without the consent of any prior beneficiary by filing a new designation with the Committee.
The last such designation filed with the Committee shall be controlling; provided, however, that no designation,
or change or revocation thereof, shall be effective unless received by the Committee prior to the Participant’s death, and
in no event shall it be effective as of a date prior to such receipt. If no beneficiary designation is filed by a Participant,
the beneficiary shall be deemed to be his spouse or, if the Participant is unmarried at the time of death, his estate. Upon the
occurrence of a Participant’s divorce (as evidenced by a final order or decree of divorce), any spousal designation previously
given by such Participant shall automatically terminate.

 

    20 

     

    

 

(g)         Termination
of Employment/Service. Unless determined otherwise by the Committee at any point including following such event: (i) neither
a temporary absence from employment or service due to illness, vacation or leave of absence nor a transfer from employment or
service with the Company to employment or service with an Affiliate (or vice-versa) nor
ceasing to serve in any office or capacity for the Company or its Affiliates while continuing to serve in one or more other offices
or capacities for the Company or its Affiliates shall be considered a termination of employment or service with the Company
or an Affiliate; and (ii) if a Participant’s employment with the Company and its Affiliates terminates, but such Participant
continues to provide services to the Company and its Affiliates in a non-employee capacity (or vice-versa), such change in status
shall not be considered a termination of employment with the Company or an Affiliate for purposes of this Plan unless the Committee,
in its discretion, determines otherwise.

 

(h)         No
Rights as a Stockholder. Except as otherwise specifically provided in this Plan or any Award Agreement, no person shall
be entitled to the privileges of ownership in respect of Common Shares that are subject to Awards hereunder until such shares
have been issued or delivered to that person.

 

(i)          Government
and Other Regulations.

 

(i)         The
obligation of the Company to settle Awards in Common Shares or other consideration shall be subject to all applicable laws, rules,
and regulations, and to such approvals by governmental agencies as may be required. Notwithstanding any terms or conditions of
any Award to the contrary, the Company shall be under no obligation to offer to sell or to sell, and shall be prohibited from
offering to sell or selling, any Common Shares pursuant to an Award unless such shares have been properly registered for sale
pursuant to the Securities Act with the Securities and Exchange Commission or unless the Company has received an opinion of counsel,
satisfactory to the Company, that such shares may be offered or sold without such registration pursuant to an available exemption
therefrom and the terms and conditions of such exemption have been fully complied with. The Company shall be under no obligation
to register for sale under the Securities Act any of the Common Shares to be offered or sold under this Plan. The Committee shall
have the authority to provide that all certificates for Common Shares or other securities of the Company or any Affiliate delivered
under this Plan shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under
this Plan, the applicable Award Agreement, the federal securities laws, or the rules, regulations and other requirements of the
Securities and Exchange Commission, any securities exchange or inter-dealer quotation system upon which such shares or other securities
are then listed or quoted and any other applicable federal, state, local or non-U.S. laws, and, without limiting the generality
of Section 9 of this Plan, the Committee may cause a legend or legends to be put on any such certificates to make appropriate
reference to such restrictions. Notwithstanding any provision in this Plan to the contrary, the Committee reserves the right to
add any additional terms or provisions to any Award granted under this Plan that it in its sole discretion deems necessary or
advisable in order that such Award complies with the legal requirements of any governmental entity to whose jurisdiction the Award
is subject.

 

    21 

     

    

 

(ii)        The
Committee may cancel an Award or any portion thereof if it determines, in its sole discretion, that legal or contractual restrictions
and/or blockage and/or other market considerations would make the Company’s acquisition of Common Shares from the public
markets, the Company’s issuance of Common Shares to the Participant, the Participant’s acquisition of Common Shares
from the Company and/or the Participant’s sale of Common Shares to the public markets, illegal, impracticable or inadvisable.
If the Committee determines to cancel all or any portion of an Award in accordance with the foregoing, unless doing so would violate
Section 409A of the Code, the Company shall pay to the Participant an amount equal to the excess of (A) the aggregate Fair Market
Value of the Common Shares subject to such Award or portion thereof canceled (determined as of the applicable exercise date, or
the date that the shares would have been vested or delivered, as applicable), over (B) the aggregate Exercise Price or Strike
Price (in the case of an Option or SAR, respectively) or any amount payable as a condition of delivery of Common Shares (in the
case of any other Award). Such amount shall be delivered to the Participant as soon as practicable following the cancellation
of such Award or portion thereof. The Committee shall have the discretion to consider and take action to mitigate the tax consequence
to the Participant in cancelling an Award in accordance with this clause.

 

(j)          Payments
to Persons Other Than Participants. If the Committee shall find that any person to whom any amount is payable under this
Plan is unable to care for his affairs because of illness or accident, or is a minor, or has died, then any payment due to such
person or his estate (unless a prior claim therefor has been made by a duly appointed legal representative) may, if the Committee
so directs the Company, be paid to his spouse, child, relative, an institution maintaining or having custody of such person, or
any other person deemed by the Committee to be a proper recipient on behalf of such person otherwise entitled to payment. Any
such payment shall be a complete discharge of the liability of the Committee and the Company therefor.

 

(k)          Nonexclusivity
of this Plan. Neither the adoption of this Plan by the Board nor the submission of this Plan to the stockholders of the
Company for approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements
as it may deem desirable, including, without limitation, the granting of stock options or other equity-based awards otherwise
than under this Plan, and such arrangements may be either applicable generally or only in specific cases.

 

(l)          No
Trust or Fund Created. Neither this Plan nor any Award shall create or be construed to create a trust or separate fund
of any kind or a fiduciary relationship between the Company or any Affiliate, on the one hand, and a Participant or other person
or entity, on the other hand. No provision of this Plan or any Award shall require the Company, for the purpose of satisfying
any obligations under this Plan, to purchase assets or place any assets in a trust or other entity to which contributions are
made or otherwise to segregate any assets, nor shall the Company maintain separate bank accounts, books, records or other evidence
of the existence of a segregated or separately maintained or administered fund for such purposes. Participants shall have no rights
under this Plan other than as general unsecured creditors of the Company, except that insofar as they may have become entitled
to payment of additional compensation by performance of services, they shall have the same rights as other employees under general
law.

 

    22 

     

    

 

(m)        Reliance
on Reports. Each member of the Committee and each member of the Board shall be fully justified in acting or failing to
act, as the case may be, and shall not be liable for having so acted or failed to act in good faith, in reliance upon any report
made by the independent public accountant of the Company and/or its Affiliates and/or any other information furnished in connection
with this Plan by any agent of the Company or the Committee or the Board, other than himself.

 

(n)         Relationship
to Other Benefits. No payment under this Plan shall be taken into account in determining any benefits under any pension,
retirement, profit sharing, group insurance or other benefit plan of the Company except as otherwise specifically provided in
such other plan.

 

(o)         Governing
Law. The Plan shall be governed by and construed in accordance with the internal laws of the State of Delaware, without
giving effect to the conflict of laws provisions.

 

(p)         Severability.
If any provision of this Plan or any Award or Award Agreement is or becomes or is deemed to be invalid, illegal, or unenforceable
in any jurisdiction or as to any person or entity or Award, or would disqualify this Plan or any Award under any law deemed applicable
by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws in the manner that most
closely reflects the original intent of the Award or the Plan, or if it cannot be construed or deemed amended without, in the
determination of the Committee, materially altering the intent of this Plan or the Award, such provision shall be construed or
deemed stricken as to such jurisdiction, person or entity or Award and the remainder of this Plan and any such Award shall remain
in full force and effect.

 

(q)         Obligations
Binding on Successors. The obligations of the Company under this Plan shall be binding upon any successor corporation
or organization resulting from the merger, amalgamation, consolidation or other reorganization of the Company, or upon any successor
corporation or organization succeeding to substantially all of the assets and business of the Company.

 

(r)          Expenses;
Gender; Titles and Headings. The expenses of administering this Plan shall be borne by the Company and its Affiliates.
Masculine pronouns and other words of masculine gender shall refer to both men and women. The titles and headings of the sections
in this Plan are for convenience of reference only, and in the event of any conflict, the text of this Plan, rather than such
titles or headings shall control.

 

(s)         Other
Agreements. Notwithstanding the above, the Committee may require, as a condition to the grant of and/or the receipt of
Common Shares under an Award, that the Participant execute lock-up, stockholder or other agreements, as it may determine in its
sole and absolute discretion.

 

    23 

     

    

 

(t)         Section
409A. The Plan and all Awards granted hereunder are intended to comply with, or otherwise be exempt from, the requirements
of Section 409A of the Code. The Plan and all Awards granted under this Plan shall be administered, interpreted, and construed
in a manner consistent with Section 409A of the Code to the extent necessary to avoid the imposition of additional taxes under
Section 409A(a)(1)(B) of the Code. Notwithstanding anything in this Plan to the contrary, in no event shall the Committee exercise
its discretion to accelerate the payment or settlement of an Award where such payment or settlement constitutes deferred compensation
within the meaning of Section 409A of the Code unless, and solely to the extent that, such accelerated payment or settlement is
permissible under Section 1.409A-3(j)(4) of the Treasury Regulations. If a Participant is a “specified employee” (within
the meaning of Section 1.409A-1(i) of the Treasury Regulations) at any time during the twelve (12)-month period ending on the
date of his termination of employment, and any Award hereunder subject to the requirements of Section 409A of the Code is to be
satisfied on account of the Participant’s termination of employment, satisfaction of such Award shall be suspended until
the date that is six (6) months after the date of such termination of employment. In no event shall the Company or any of its
Affiliates be liable for any taxes, penalties, interest, or other expenses that may be incurred by a Participant under Section
409A of the Code.

 

(u)         Payments.
Participants shall be required to pay, to the extent required by applicable law, any amounts required to receive Common Shares
under any Award made under this Plan.

 

    24Exhibit 10.7

 

Time-Based
Form of RSU Agreement

2018
Awards

Three-Year
Vesting

 

 

 

INSPIRED
ENTERTAINMENT, INC.

2018
OMNIBUS INCENTIVE PLAN

 

Restricted
Stock Unit Award Agreement

 

This
RESTRICTED STOCK UNIT AWARD AGREEMENT (this “Agreement”) is entered into as of September 28, 2018 (the “Grant
Date”), and is between Inspired Entertainment, Inc., a Delaware corporation (the “Company”), and
[PARTICIPANT NAME] (the “Participant”), an employee of the Company or one of its subsidiaries. Any term capitalized
but not defined in this Agreement shall have the meaning set forth in the Inspired Entertainment, Inc. 2018 Omnibus Incentive
Plan (the “Plan”).

 

1.       Grant
of Units. In accordance with the terms of the Plan and subject to the terms and conditions of the Plan and this Agreement,
the Company hereby grants to the Participant [NUMBER] Restricted Stock Units (each a “Unit” and collectively,
the “Units”).

 

2.       Vesting
of Units. Subject to Section 20, the Units shall vest (i.e., the restrictions shall lapse) in one-third increments on each
of December 31, 2019, December 31, 2020 and December 31, 2021. Notwithstanding the foregoing, and except as otherwise provided
in this Agreement and the Plan, if the Participant ceases to provide employment or other services to the Company or a subsidiary
of the Company for any reason, all unvested Units shall be automatically and immediately forfeited and terminated.

 

3.       Settlement
of Units. Within thirty (30) days of an applicable vesting date, the Company will issue in certificated or uncertificated
form to the Participant a number of shares of the Company’s common stock (the “Stock”) corresponding
to the number of Units that vested, less the number, if any, withheld in satisfaction of applicable withholding taxes as discussed
in Section 4.

 

4.       
Taxes; Withholding Obligation.

 

(a)       The
Participant shall be ultimately liable and responsible for all federal, state, local or foreign income or employment taxes owed
in connection with the Units and/or required to be withheld, regardless of any action the Company takes with respect to any tax
withholding obligations that arise in connection with the Units. The Company makes no representation or undertaking regarding
the domestic or foreign tax treatment of the Participant in connection with the grant or vesting of the Units, the issuance of
shares of Stock upon settlement of the Units or the subsequent sale of such shares of Stock. The Company is not committed and
is not under any obligation to structure the Units to reduce or eliminate the Participant’s tax liability.

 

     

     

    

 

(b)       As
a condition to the Company’s delivery of shares of Stock pursuant to Section 3, the Participant shall be required to make
appropriate arrangements for the satisfaction of any applicable domestic or foreign tax or employment or social insurance withholding
obligation which may include tendering to the Company a cash payment equal to the withholding amount due in accordance with procedures
adopted from time to time by the Company. If withholding of taxes and/or social insurance is required at the time of vesting and
the Participant has not made other arrangements satisfactory to the Company, the Company will withhold from any shares deliverable
upon the vesting of Units a number having a Fair Market Value equal to the withholding taxes due.

 

5.       Effect
of Termination of Employment/Service. If the Participant ceases to provide employment or other services to the Company or
a subsidiary of the Company for any reason all unvested Units shall be automatically and immediately forfeited and terminated;
provided that, if there is a conflict between this provision and the provisions of any employment (or similar) agreement between
the Company (or a subsidiary of the Company) and the Participant in effect at the time of termination, the provisions of such
employment (or similar) agreement shall govern. Notwithstanding the foregoing, in the event
that: (i) a Change in Control occurs and (ii) the Participant’s employment or other services are terminated without Cause
within the twelve (12) month period immediately following such Change in Control (such that the Participant’s
Units would otherwise be cancelled (e.g., not be retained in accordance with Section 14(g) of the Plan)), the Participant’s
unvested Units shall vest on the effective date of such termination.

 

6.       Clawback.
By accepting the award of Units, the Participant agrees that the Company may recover some or all of the shares of Stock delivered
with respect to such award or recoup some or all of the value thereof via offset from other amounts owed by the Participant to
the Company or any of its Affiliates, at any time in the three calendar years following delivery thereof, if and to the extent
that the Committee concludes that (i) U.S. federal or state law, the laws of any other jurisdiction in which the Participant has
been employed by or providing services to the Company during the term of the award, or the listing requirements of any exchange
on which the Company’s stock is listed for trading so require, or (ii) as required by Section 304 of the U.S. Sarbanes-Oxley
Act of 2002, Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act or otherwise after a restatement of
the Company’s financial results as reported to the U.S. Securities and Exchange Commission. By accepting an award hereunder,
and by accepting any delivery of shares of Stock hereunder, the Participant agrees to promptly comply with any Company demand
for recovery or recoupment hereunder.

 

7.       Transferability
of Units. Except as otherwise provided herein, the Participant may not sell, transfer, pledge, assign or otherwise alienate
or hypothecate Units other than by will or the laws of descent and distribution or equivalent laws in the jurisdiction of the
Participant’s employment. Any attempt to transfer Units in contravention of this Section 7 is null and void ab initio.

 

8.       Compliance
with Securities Laws and other Requirements. Notwithstanding anything herein to the contrary, if at any time the Company determines
that issuing or distributing shares of Stock would violate applicable securities laws or other legal or regulatory requirements,
the Company will not issue or distribute such shares until such time as distribution of the shares would not violate applicable
securities laws and other requirements. The Committee may declare any provision of this Agreement or action of its own null and
void, if it determines the provision or action fails to comply with the applicable short-swing trading rules under the securities
laws. As a condition to issuing or distributing shares of Stock to the Participant, until such time as such shares have been registered
pursuant to an effective registration statement under the securities laws, or an exemption from such requirements is available,
the Company may require the Participant to make such written representations as it deems necessary or desirable to comply with
applicable securities laws.

 

    2 

     

    

 

9.       No
Limitation on Rights of the Company. The grant of Units does not and will not in any way affect the right or power of the
Company to make adjustments, reclassifications or changes in its capital or business structure, or to merge, consolidate, dissolve,
liquidate, sell or transfer all or any part of its business or assets.

 

10.       Plan
and Agreement Not a Contract of Employment or Service. Neither the Plan nor this Agreement is a contract of employment or
services, and no terms of the Participant’s employment or services agreement shall be affected in any way by the Plan, this
Agreement or related instruments, except to the extent specifically expressed therein. Neither the Plan nor this Agreement shall
be construed as conferring any legal rights on the Participant to continue to be employed or remain in service with the Company
or any of its Affiliates, nor will it interfere with the Company’s or any of its Affiliates’ right to discharge the
Participant with or without Cause or to otherwise deal with the Participant regardless of the existence of the Plan, this Agreement
or Units.

 

11.       Participant
to Have No Rights as a Stockholder. Before the date as of which the shares of Stock are issued to the Participant, the Participant
will have no rights as a shareholder with respect to those shares.

 

12.       Notice.
Any notice or other communication required or permitted under this Agreement must be in writing and must be delivered personally,
sent by certified, registered or express mail, or sent by overnight courier, at the sender’s expense. Notice shall be deemed
given when delivered personally or, if mailed, three days after the date of deposit in the United States mail or, if sent by overnight
courier, on the regular business day following the date sent. Notice to the Company should be sent to Inspired Entertainment,
Inc., 250 West 57th Street, Suite 2223, New York, NY 10107, Attention: General Counsel. Notice to the Participant should
be sent to the address the Participant has on file with the Company. Either party may change the person and/or address to whom
or which the other party must give notice under this Section 12 by giving such other party written notice of such change, in accordance
with the procedures described above.

 

13.       Successors.
All obligations of the Company under this Agreement will be binding on any successor to the Company, whether the existence of
the successor results from a direct or indirect purchase of all or substantially all of the business of the Company, or a merger,
consolidation, or otherwise.

 

14.       Governing
Law. To the extent not preempted by federal law, this Agreement will be construed and enforced in accordance with, and governed
by, the laws of the State of New York, without giving effect to any conflicts of law principles that would require the application
of the law of any other jurisdiction. The Company and the Participant hereby irrevocably and unconditionally (i) agree that any
action or proceeding arising out of or in connection with the Units and this Agreement shall be brought only in the courts in
the State of New York, County of New York, including the federal courts located therein should federal jurisdiction requirements
exist, and (ii) consent to submit to the exclusive jurisdiction of the such courts for purposes of any action or proceeding arising
out of or in connection with the Units or this Agreement.

 

    3 

     

    

 

15.       Plan
Document Controls. The rights granted under this Agreement are in all respects subject to the provisions set forth in the
Plan to the same extent and with the same effect as if set forth fully in this Agreement. If the terms of this Agreement conflict
with the terms of the Plan document, the Plan document will control.

 

16.       Amendment
of the Agreement. The Company and the Participant may amend this Agreement only by a written instrument signed by both parties.

 

17.       Counterparts.
The parties may execute this Agreement in one or more counterparts, all of which together shall constitute but one Agreement.

 

18.       Code
Section 409A. The issuance of shares of Stock under this Agreement shall be provided in a manner that complies with Code Section
409A and any ambiguity herein shall be interpreted so as to be consistent with the intent of this paragraph. In no event whatsoever
shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Participant by Code Section
409A or damages for failing to comply with Code Section 409A. Notwithstanding anything herein to the contrary, if the Participant
is a “specified employee” as such term is defined under Code Section 409A at the time of a separation from service
and the deferral of the commencement of any payments or benefits otherwise payable hereunder as a result of such separation from
service is necessary in order to prevent any accelerated recognition of income or additional tax under Code Section 409A, then
the Company will defer the issuance of shares of Stock hereunder (without any reduction therein) until the date that is at least
six (6) months following the Participant’s separation from service with the Company or the earliest date permitted under
Code Section 409A (e.g., immediately upon the Participant’s death), whereupon the Company will promptly issue to the Participant
the shares of Stock that would have otherwise been previously issued to the Participant under this Agreement during the period
in which such issuance was deferred.

 

19.       Data
Privacy. The Participant explicitly and unambiguously consents to the collection, use, and transfer, in electronic or other
form, of personal data as described in this Section 19 by and among, as applicable, the Company and its Affiliates for the exclusive
purpose of implementing, administering, and managing the Plan and this Agreement. In furtherance of such implementation, administration,
and management, the Company and its Affiliates may hold certain personal information about the Participant, including, but not
limited to, the Participant’s name, home address, telephone number(s), date of birth, social security or insurance number
or other identification number, salary, nationality, job title(s), information regarding any securities of the Company or any
of its Affiliates, and details of this Agreement (the “Data”). In addition to transferring the Data amongst
themselves as necessary for the purpose of implementation, administration, and management of the Plan and this Agreement, the
Company and its Affiliates may each transfer the Data to any third parties assisting the Company in the implementation, administration,
and management of the Plan and this Agreement. Recipients of the Data may be located in the Participant’s country or elsewhere,
and the Participant’s country may have different data privacy laws and protections. The Participant authorizes such recipients
to receive, possess, use, retain, and transfer the Data, in electronic or other form, for the purposes of assisting the Company
in the implementation, administration, and management of the Plan and this Agreement, including any requisite transfer of such
Data as may be required to a broker or other third party with whom the Company or the Participant may elect to deposit any shares
of Stock. The Data related to the Participant will be held as long as is necessary to implement, administer, and manage the Plan
and this Agreement. The Participant may, at any time, view the Data held by the Company with respect to such Participant, request
additional information about the storage and processing of the Data with respect to such Participant, recommend any necessary
corrections to the Data with respect to the Participant, or refuse or withdraw the consents herein in writing, in any case without
cost, by contacting the Participant’s local human resources representative. The Company may cancel the Participant’s
eligibility to participate in the Plan, and in the Committee’s discretion, the Participant may forfeit any the Units if
the Participant refuses or withdraws the consents described herein.

 

    4 

     

    

 

20.       Subject
to Stockholder Approval. The Plan was adopted by the Company on September 28, 2018. The Plan is subject to approval by stockholders
of the Company at an annual or special meeting of stockholders of the Company, and the Participant’s rights with respect
to the Units shall be subject to such approval by stockholders. This Agreement and the grant of the Units shall be effective as
of the date hereof but are subject to such stockholder approval, and if stockholders fail to approve the Plan prior to December
31, 2019, all of the Units granted hereunder shall be cancelled as of such date and the Participant shall be entitled to a liquidated
damages amount within thirty (30) days after December 31, 2019 equal to the product of (i) the 30-day volume weighted average
price of a share of Stock for the 30 days immediately prior to December 31, 2019 multiplied by (ii) the number of Units that would
have otherwise vested on December 31, 2019.

 

21.       Entire
Agreement. This Agreement and any other documents to be executed to implement its provisions together constitute the entire
agreement between the parties pertaining to the subject matter hereof, superseding all prior and contemporaneous agreements, representations
and understandings of the parties with respect to the subject matter hereof.

 

IN
WITNESS WHEREOF, the Company and the Participant have duly executed this Agreement as of the date first written above.

  

	INSPIRED ENTERTAINMENT, INC.
	 	 
	By	 	 
	 	 
	 	Name:	 
	 	Title:	 

	 	 
	 [NAME]	 

 

    5

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