Document:

Exhibit 10.66

 

Great Basin Scientific, Inc.

420 E. South Temple, Suite 520

Salt Lake City, Utah 84111

 

Gentlemen:

 

The undersigned (the “Investor”)
hereby confirms its agreement with Great Basin Scientific, Inc., a Delaware corporation (the “Company”), as
follows:

 

1.       This
Subscription Agreement, including the Terms and Conditions For Purchase of Securities attached hereto as Annex I (collectively,
this “Agreement”) is made as of the date set forth below between the Company and the Investor.

 

2.       The
Company has authorized the sale and issuance to certain investors of up to an aggregate of (1) ______ Class A Units (the “Class
A Units”) consisting of (i) ____ authorized but unissued shares of common stock, par value $0.0001 per
share (the “Common Stock”), of the Company (the “Shares”) and (ii) _____ Series J Warrants
(the “Warrants”) to purchase an aggregate of
up to ______ authorized but unissued shares of Common Stock (the “Warrant
Shares” which term shall include the shares of Common Stock issued and issuable upon exercise of the Pre-Funded Warrants
(as defined below)) and (2) ______ Class B Units (the “Class
B Units”) consisting of (i) ____ Series K Pre-Funded Warrants (the “Pre-Funded Warrants”)
to purchase an aggregate of up to _______ authorized but unissued shares of Common Stock and (ii) ______ Warrants to purchase an
aggregate of up to _______ authorized but unissued shares of Common Stock. Each Class A Unit will consist of one Share and one
Warrant to purchase ____ Warrant Shares and each Class B Unit will consist of one Pre-Funded Warrant to purchase one (1) Warrant
Share and one Warrant to purchase ____ Warrant Shares. The Class A Units and the Class B Units are, collectively, the “Units.”
The Units, the Shares, the Warrants, the Pre-Funded Warrants and the Warrant Shares are collectively referred to as the “Securities.”
The purchase price per Class A Unit shall be $____ (the “Class A Unit Purchase Price”) and the purchase price
per Class B Unit shall be $____. The Units will not be separately issued or certificated and the Securities shall be immediately
separable and transferable upon issuance. The form of the Warrants is attached hereto as Exhibit B and the form of the Pre-Funded
Warrants is attached hereto as Exhibit C.

 

3.       The
offering and sale of the Securities (the “Offering”) are being made pursuant to (1) an effective Registration
Statement on Form S-1, File No. 333-216045 (including any additional registration statement filed with respect thereto pursuant
to Rule 462(b) under the Securities Act (as defined below) the “Registration Statement”) filed by the Company
with the Securities and Exchange Commission (the “Commission”) (including the prospectus contained therein (the
“Prospectus”) and (2) if applicable, certain “free writing prospectuses” (as that term is defined
in Rule 405 under the Securities Act of 1933, as amended (the “Securities Act”)), that have been or will
be filed with the Commission and delivered to the Investor on or prior to the date hereof (the “Issuer Free Writing Prospectus”),
containing certain supplemental information regarding the Securities, the terms of the Offering and the Company.

 

     

     

    

 

4.       The
Company and the Investor agree that the Investor will purchase from the Company and the Company will issue and sell to the Investor
the Securities set forth below for the aggregate Purchase Price set forth below. The Securities shall be purchased pursuant to
the Terms and Conditions for Purchase of Securities attached hereto as Annex I and incorporated herein by this reference
as if fully set forth herein. The Investor acknowledges that the Offering is not being underwritten by the placement agent
(the “Placement Agent”) named in the Prospectus and that there is no minimum offering amount.

 

5.       The
manner of settlement of the Securities purchased by the Investor shall be determined by such Investor as follows (check one):

 

		a.	The Shares shall be settled as follows:

 

		[____]	A.          Delivery by crediting the account of the Investor’s prime broker (as specified by such
Investor on Exhibit A annexed hereto) with the Depository Trust Company (“DTC”) through its Deposit/Withdrawal
At Custodian (“DWAC”) system, whereby Investor’s prime broker shall initiate a DWAC transaction on the
Closing Date using its DTC participant identification number, and released by the Company’s transfer agent (the “Transfer
Agent”), at the Company’s direction. NO LATER THAN ONE (1) BUSINESS DAY AFTER THE EXECUTION OF THIS AGREEMENT
BY THE INVESTOR AND THE COMPANY, THE INVESTOR SHALL:

 

		(I)	DIRECT THE BROKER-DEALER AT WHICH THE ACCOUNT OR ACCOUNTS TO BE CREDITED
WITH THE SHARES ARE MAINTAINED TO SET UP A DWAC INSTRUCTING THE TRANSFER AGENT TO CREDIT SUCH ACCOUNT OR ACCOUNTS WITH THE SHARES,
AND

 

		(II)	REMIT BY WIRE TRANSFER THE AMOUNT OF FUNDS EQUAL TO THE AGGREGATE
PURCHASE PRICE FOR THE SECURITIES BEING PURCHASED BY THE INVESTOR TO THE FOLLOWING ACCOUNT:

 

To be separately provided to the Investor

—OR—

 

		[____]	B.          Delivery versus payment (“DVP”) through DTC (i.e., on the Closing Date,
the Company shall issue such Shares registered in the Investor’s name and address as set forth below and released by the
Transfer Agent directly to the account(s) at Roth Capital Partners, LLC (“Roth”) identified by the Investor;
upon receipt of such Shares, Roth shall promptly electronically deliver such Shares to the Investor, and simultaneously therewith
payment shall be made by Roth by wire transfer to the Company). NO LATER THAN ONE (1) BUSINESS DAY AFTER THE EXECUTION OF THIS
AGREEMENT BY THE INVESTOR AND THE COMPANY, THE INVESTOR SHALL:

 

		(III)	NOTIFY ROTH OF THE ACCOUNT OR ACCOUNTS AT ROTH TO BE CREDITED WITH
THE SHARES BEING PURCHASED BY SUCH INVESTOR, AND

 

     

     

    

 

		(IV)	CONFIRM THAT THE ACCOUNT OR ACCOUNTS AT ROTH TO BE CREDITED WITH
THE SHARES BEING PURCHASED BY THE INVESTOR HAVE A MINIMUM BALANCE EQUAL TO THE AGGREGATE PURCHASE PRICE FOR THE SECURITIES BEING
PURCHASED BY THE INVESTOR.

 

IT IS THE INVESTOR’S RESPONSIBILITY
TO (A) MAKE THE NECESSARY WIRE TRANSFER OR CONFIRM THE PROPER ACCOUNT BALANCE IN A TIMELY MANNER AND (B) ARRANGE FOR SETTLEMENT
BY WAY OF DWAC OR DVP IN A TIMELY MANNER. IF THE INVESTOR DOES NOT DELIVER THE AGGREGATE PURCHASE PRICE FOR THE SECURITIES OR DOES
NOT MAKE PROPER ARRANGEMENTS FOR SETTLEMENT IN A TIMELY MANNER, THE SECURITIES MAY NOT BE DELIVERED AT CLOSING TO THE INVESTOR
OR THE INVESTOR MAY BE EXCLUDED FROM THE CLOSING ALTOGETHER.

 

		b.	The Pre-Funded Warrants shall be delivered to the Investor by mail, duly executed and registered
in such names and sent to such address as specified by the Investor below and the Investor’s Purchase Price for the Pre-Funded
Warrants shall be made, at the election of the Investor, (i) by Roth by wire transfer to the Company along with the payment by
Roth for such Investor’s Shares pursuant to Section 5(a)(B) herein or (ii) by the Investor by wire transfer to the Company,
no later than one (1) Business Day afte the execution of this Agreement by the Investor and the Company, to the following account:
to be separately provided by the Investor.

 

6.       The
executed Warrants shall be delivered to the Investor by mail, registered in such names and sent to such address as specified by
the Investor below.

 

7.       The
Investor represents that, except as set forth below, (a) it has had no position, office or other material relationship within the
past three years with the Company or persons known to it to be affiliates of the Company and (b) it is not a member of the
Financial Industry Regulatory Authority, Inc. (“FINRA”) or an Associated Person (as such term is defined under
the FINRA’s NASD Membership and Registration Rules Section 1011) as of the Closing. Exceptions: 

 

	 
	 
	(If no exceptions, write “none.” If left blank, response will be deemed to be “none.”)

 

8.       The
Investor represents that it has received (or otherwise had made available to it by the filing by the Company of an electronic version
thereof with the Commission) the Prospectus, dated _____, 2017, which is a part of the Company’s Registration Statement,
the documents incorporated by reference therein and any free writing prospectus (collectively, the “Disclosure Package”),
prior to or in connection with the receipt of this Agreement. The Investor acknowledges that, prior to the delivery of this
Agreement to the Company, the Investor will receive certain additional information regarding the Offering, including pricing information
(the “Offering Information”). Such information may be provided to the Investor by any means permitted
under the Securities Act, including a free writing prospectus and oral communications.

 

     

     

    

 

9.       No
offer by the Investor to buy Securities will be accepted and no part of the Purchase Price will be delivered to the Company until
the Investor has received the Offering Information and the Company has accepted such offer by countersigning a copy of this Agreement,
and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the Company
(or Roth on behalf of the Company) sending (orally, in writing or by electronic mail) notice of its acceptance of such offer. An
indication of interest will involve no obligation or commitment of any kind until the Investor has been delivered the Offering Information
and this Agreement is accepted and countersigned by or on behalf of the Company.

 

10.     The
Company acknowledges that the only material, non-public information relating to the Company or its subsidiaries that the Company,
its employees or agents has provided to the Investor in connection with the Offering prior to the date hereof are the material
pricing terms of the Offering.

 

     

     

    

 

	Number of Class A Units:  	 	 
	 	 	 
	Number of Class B Units:  	 	 

 

	Purchase Price for Class A Units:   $ 	 	 
	 	 	 
	Purchase Price for Class B Units:   $ 	 	 

 

	Aggregate Purchase Price:  $  	 	 

 

Please confirm that the foregoing correctly
sets forth the agreement between us by signing in the space provided below for that purpose.

 

	 	Dated as of:  ___________, 2017
	 	 	 
	 	 
	 	INVESTOR	 
	 	 	 
	 	By:	 
	 	Print Name:	 
	 	Title:	 
	 	Address:	 
	 	 

 

Agreed and Accepted

this ___ day of _________, 2017:

 

	GREAT BASIN SCIENTIFIC, INC.	 
	 	 	 
	By:	 	 
	 	Title:	 

 

     

     

    

 

annex
I

TERMS AND CONDITIONS FOR PURCHASE OF SECURITIES

 

1.                 Authorization
and Sale of the Securities. Subject to the terms and conditions of this Agreement, the Company has authorized the sale of the
Securities.

 

2.                 Agreement
to Sell and Purchase the Securities; Placement Agent.

 

2.1       At
the Closing (as defined in Section 3.1), the Company will sell to the Investor, and the Investor will purchase from the
Company, upon the terms and conditions set forth herein, the number of Securities set forth on the last page of the Agreement
to which these Terms and Conditions for Purchase of Securities are attached as Annex I (the “Signature Page”)
for the aggregate purchase price therefor set forth on the Signature Page.

 

2.2       The
Company proposes to enter into substantially this same form of Subscription Agreement with certain other investors (the “Other
Investors”) and expects to complete sales of Securities to them. The Investor and the Other Investors are hereinafter
sometimes collectively referred to as the “Investors,” and this Agreement and the Subscription Agreements executed
by the Other Investors are hereinafter sometimes collectively referred to as the “Agreements.”

 

2.3       Investor
acknowledges that the Company has agreed to pay Roth Capital Partners, LLC (the “Placement Agent” or “Roth”)
a fee (the “Placement Fee”) and to reimburse the Placement Agent for certain expenses in respect of the
sale of the Securities to the Investor.

 

2.4       The
Company has entered into a Placement Agent Agreement, dated the date hereof, (the “Placement Agreement”),
with the Placement Agent that contains representations, warranties, covenants and agreements of the Company that may be relied
upon by the Investor, which shall be a third party beneficiary thereof. The Company confirms that neither it nor any other
person acting on its behalf has provided the Investor or their agents or counsel with any information that constitutes or could
reasonably be expected to constitute material, nonpublic information, except as will be disclosed in the Prospectus and/or in the
Company’s Form 8-K to be filed with the Commission in connection with the Offering. The Company understands and confirms
that the Investor will rely on the foregoing representations in effecting transactions in securities of the Company.

 

3.                 Closings
and Delivery of the Securities and Funds.

 

3.1       Closing.
The completion of the purchase and sale of the Securities (the “Closing”)
shall occur at a place and time (the “Closing Date”) to be specified by the Company and the Placement Agent,
and of which the Investors will be notified in advance by the Placement Agent, in accordance with Rule 15c6-l promulgated
under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). At the Closing, (a) if applicable,
the Company shall cause the Company’s transfer agent (“Transfer Agent”), to deliver to the Investor the
number of Shares included in the Class A Units set forth on the Signature Page registered in the name of the Investor or,
if so indicated on the Investor Questionnaire attached hereto as Exhibit A, in the name of a nominee designated by the Investor,
(b) the Company shall cause to be delivered to the Investor, a Pre-Funded Warrant for the number of Warrant Shares included in
the Class B Units set forth on the Signature Page, (c) the Company shall cause to be delivered to the Investor, a Warrant for the
number of Warrant Shares included in the Units set forth on the Signature Page, and (d) the aggregate purchase price for the Securities
being purchased by the Investor will be delivered by or on behalf of the Investor to the Company.

 

     

     

    

 

3.2       Conditions
to the Obligations of the Parties. 

 

3.3  (a)        Conditions
to the Company’s Obligations. The Company’s obligation to issue and sell the Securities to the Investor shall
be subject to: (i) the receipt by the Company of the purchase price for the Securities being purchased hereunder as set forth
on the Signature Page and (ii) the accuracy of the representations and warranties made by the Investor and the fulfillment
of those undertakings of the Investor to be fulfilled prior to the Closing Date.

 

3.4  (b)        Conditions
to the Investor’s Obligations. The Investor’s obligation to purchase the Securities will be subject to
the accuracy of the representations and warranties made by the Company and the fulfillment of those undertakings of the Company
to be fulfilled prior to the Closing Date, including without limitation, those contained in the Placement Agreement and to the
condition that the Placement Agent shall not have: (a) terminated the Placement Agreement pursuant to the terms thereof or (b)
determined that the conditions to the closing in the Placement Agreement have not been satisfied. The Investor’s obligations
are expressly not conditioned on the purchase by any or all of the Other Investors of the Securities that they have agreed to purchase
from the Company. The Investor understands and agrees that, in the event that the Placement Agent in its sole discretion determines
that the conditions to closing in the Placement Agreement have not been satisfied or if the Placement Agreement may be terminated
for any other reason permitted by such Placement Agreement, then the Placement Agent may, but shall not be obligated to, terminate
such Agreement, which shall have the effect of terminating this Subscription Agreement pursuant to Section 14 below.

 

4.                 Representations,
Warranties and Covenants of the Investor.

 

The Investor acknowledges,
represents and warrants to, and agrees with, the Company and the Placement Agent that:

 

4.1       The
Investor (a) is an entity that qualifies for an exemption from the requirements of the Company to qualify or register the offer
and sale of the Securities to the Investor under any applicable state “blue-sky” or securities laws in the jurisdiction
in which the Investor is deemed to reside, (b) is knowledgeable, sophisticated and experienced in making, and is qualified to make
decisions with respect to, investments in securities presenting an investment decision like that involved in the purchase
of the Securities, including investments in securities issued by the Company and investments in comparable companies, (c) has answered
all questions on the Signature Page and the Investor Questionnaire and the answers thereto are true and correct as of the
date hereof and will be true and correct as of the Closing Date and (d) in connection with its decision to purchase the Securities
set forth on the Signature Page, has received and is relying only upon the Disclosure Package and the documents incorporated by
reference therein and the Offering Information.

 

     

     

    

 

4.2       (a)
No action has been or will be taken in any jurisdiction outside the United States by the Company or the Placement Agent that
would permit an offering of the Securities, or possession or distribution of offering materials in connection with the issue
of the Securities in any jurisdiction outside the United States where action for that purpose is required, (b) if the Investor
is outside the United States, it will comply with all applicable laws and regulations in each foreign jurisdiction in which
it purchases, offers, sells or delivers Securities or has in its possession or distributes any offering material, in all
cases at its own expense and (c) the Placement Agent is not authorized to make and has not made any representation, disclosure
or use of any information in connection with the issue, placement, purchase and sale of the Securities, except as set forth or
incorporated by reference in the Registration Statement, Prospectus or any free writing prospectus.

 

4.3       (a)
The Investor has full right, power, authority and capacity to enter into this Agreement and to consummate the transactions contemplated
hereby and has taken all necessary action to authorize the execution, delivery and performance of this Agreement, and (b)
this Agreement constitutes a valid and binding obligation of the Investor enforceable against the Investor in accordance with
its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws
affecting creditors’ and contracting parties’ rights generally and except as enforceability may be subject to general
principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law) and except
as to the enforceability of any rights to indemnification or contribution that may be violative of the public policy underlying
any law, rule or regulation (including any federal or state securities law, rule or regulation).

 

4.4       The
Investor understands that nothing in this Agreement, the Prospectus, the Disclosure Package, the Offering Information or any other
materials presented to the Investor in connection with the purchase and sale of the Units constitutes legal, tax or investment
advice. The Investor has consulted such legal, tax and investment advisors and made such investigation as it, in its sole discretion,
has deemed necessary or appropriate in connection with its purchase of Units. The Investor also understands that there is no established
public trading market for the Pre-Funded Warrants or the Warrants, and that the Company does not expect such a market to develop.
In addition, the Company does not intend to apply for listing of the Pre-Funded Warrants or the Warrants on any securities exchange.
The Investor understands that without an active trading market, the liquidity of the Pre-Funded Warrants or the Warrants will be
limited. 

 

4.5       The
Investor will maintain the confidentiality of all information acquired as a result of the transactions contemplated hereby prior
to the public disclosure of that information by the Company in accordance with Section 13 of this Annex.

 

4.6       Since
the time at which the Placement Agent first provided the material pricing terms of the Offering, the Investor has not disclosed
any material pricing information regarding the Offering to any third parties (other than its legal, accounting and other advisors)
and has not engaged in any purchases or sales of the securities of the Company (including, without limitation, any Short Sales
(as defined herein) involving the Company’s securities). The Investor covenants that it will not engage in any purchases
or sales of the securities of the Company (including Short Sales) from the time the Investor received material pricing information
regarding the offering until the time that the transactions contemplated by this Agreement are publicly disclosed. The Investor
agrees that it will not use any of the Securities acquired pursuant to this Agreement to cover any short position in the Common
Stock if doing so would be in violation of applicable securities laws. For purposes hereof, “Short Sales” include,
without limitation, all “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange
Act, whether or not against the box, and all types of direct and indirect stock pledges, forward sales contracts, options,
puts, calls, short sales, swaps, “put equivalent positions” (as defined in Rule 16a-1(h) under the Exchange Act)
and similar arrangements (including on a total return basis), and sales and other transactions through non-U.S. broker dealers or
foreign regulated brokers.

 

     

     

    

 

4.7       The
Investor has been afforded, (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from,
representatives of the Company concerning the terms and conditions of the Offering and the merits and risks of investing in the
Securities; (ii) access to information about the Company and its financial condition, results of operations, business, properties,
management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional
information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed
investment decision with respect to the investment.  The Investor acknowledges and agrees that neither Roth nor any affiliate
of Roth has provided such Investor with any information or advice with respect to the Securities nor is such information or advice
necessary or desired.  Neither Roth nor any of its affiliates has made or makes any representation as to the Company or the
quality of the Securities and Roth and any of its affiliate may have acquired non-public information with respect to the Company
which such Investor agrees need not be provided to it.  In connection with the issuance of the Securities to such Investor,
neither Roth nor any of its affiliates has acted as a financial advisor or fiduciary to such Investor.

 

5.                 Survival
of Representations, Warranties and Agreements; Third Party Beneficiary. Notwithstanding any investigation made by any
party to this Agreement or by the Placement Agent, all covenants, agreements, representations and warranties made by the Company
and the Investor herein will survive the execution of this Agreement, the delivery to the Investor of the Securities being purchased
and the payment therefor until the expiration of the applicable statute of limitations. The Placement Agent shall be a third party
beneficiary with respect to the representations, warranties and agreements of the Investor in Section 4 hereof.

 

6.                 Notices.
All notices, requests, consents and other communications hereunder will be in writing, will be delivered (a) if within the
domestic United States by first-class registered or certified airmail, or nationally recognized overnight express courier, postage
prepaid, or by facsimile or (b) if delivered from outside the United States, by International Federal Express or facsimile, and
will be deemed given (i) if delivered by first-class registered or certified mail domestic, three business days after so mailed,
(ii) if delivered by nationally recognized overnight carrier, one business day after so mailed, (iii) if delivered by International
Federal Express, two business days after so mailed, and (iv) if delivered by email attachment or facsimile number, upon the
date of transmission, and will be delivered and addressed as follows:

 

     

     

    

 

(a)    if
to the Company, to:

Great Basin Scientific, Inc.

420 E. South Temple, Suite 520

Salt Lake City, Utah 84111

Attention: Chief Financial Officer

Facsimile: (801) 990-1051

E-mail: jrona@gbscience.com

with a copy (which shall not constitute notice) to:

Mitchell Silberberg & Knupp LLP

11377 W. Olympic Blvd.

Los Angeles, California 90064

Attention: Kevin Friedmann

Fax: (310) 312-3100

E-mail: kxf@msk.com

 

(b)    if
to the Investor, at its address on the Signature Page hereto, or at such other address or addresses as may have been furnished
to the Company in writing.

 

7.                 Changes.
This Agreement may not be modified or amended except pursuant to an instrument in writing signed by the Company and Investors
holding at such time at least 67% in interest of the Securities held by Investors who purchased the Securities in the Offering,
and such modification or amendment shall be binding on all holders of the Securities. For purposes of calculating such 67% interest
in the Securities, the denominator of such calculation shall be the sum of the number of shares of Common Stock and shares underlying
the Warrants and Pre-Funded Warrants held by all Investors in the Offering at such time and the numerator shall be shall be the
sum of the number of shares of Common Stock and shares underlying the Warrants and Pre-Funded Warrants held by the Investors agreeing
to the modification or amendment.

 

8.                 Headings.
The headings of the various sections of this Agreement have been inserted for convenience of reference only and will not
be deemed to be part of this Agreement.

 

9.                 Severability.
In case any provision contained in this Agreement should be invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein will not in any way be affected or impaired thereby.

 

10.               Governing
Law. This Agreement will be governed by, and construed in accordance with, the internal laws of the State of New
York, without giving effect to the principles of conflicts of law that would require the application of the laws of any other
jurisdiction.

 

11.               Counterparts.
This Agreement may be executed in two or more counterparts, each of which will constitute an original, but all of which, when
taken together, will constitute but one instrument, and will become effective when one or more counterparts have been signed by
each party hereto and delivered to the other parties. The Company and the Investor acknowledge and agree that the Company shall
deliver its counterpart to the Investor along with the Prospectus (or the filing by the Company of an electronic version thereof
with the Commission).

 

     

     

    

 

12.               Confirmation
of Sale. The Investor acknowledges and agrees that such Investor’s receipt of the Company’s signed counterpart
to this Agreement, together with the Prospectus (or the filing by the Company of an electronic version thereof with the Commission),
shall constitute written confirmation of the Company’s sale of the Securities to such Investor.

 

13.               Press
Release; Disclosure. The Company and the Investor agree that the Company shall (a) prior to the opening of the financial markets
in New York City on ______, 2017 issue a press release announcing the Offering and disclosing all material information, including,
without limitation, the material terms, regarding the Offering, not previously disclosed, permitted under existing SEC rules applicable
to press releases, and (b) as promptly as practicable on ________, 2017 file a current report on Form 8-K with the Securities and
Exchange Commission. From and after the issuance of such press release, the Company represents to the Investor that it shall have
publicly disclosed all material, non-public information delivered to the Investor by the Company or any of its subsidiaries, or
any of their respective officers, directors, employees or agents in connection with the transactions contemplated by this Agreement.
In addition, effective upon the issuance of such press release, the Company acknowledges and agrees that any and all confidentiality
or similar obligations under any agreement, whether written or oral, between the Company, any of its subsidiaries or any of their
respective officers, directors, agents, employees or affiliates on the one hand, and the Investor or any of their affiliates on
the other hand, shall terminate. Except with respect to the material terms and conditions of the transactions contemplated by this
Agreement, which shall be disclosed pursuant to the press release required above, the Company covenants and agrees that neither
it, nor any other person acting on its behalf will provide Investor or its agents or counsel with any information that constitutes,
or the Company reasonably believes constitutes, material non-public information, unless prior thereto the Investor shall have consented
to the receipt of such information and agreed with the Company to keep such information confidential. To the extent that the Company
delivers any material, non-public information to an Investor without the Investor’s consent, the Company hereby covenants
and agrees that the Investor shall not have any duty of confidentiality to the Company, any of its subsidiaries, or any of their
respective officers, directors, agents, employees or affiliates, or a duty to the Company, any of its subsidiaries or any of their
respective officers, directors, agents, employees or Affiliates not to trade on the basis of, such material, non-public information,
provided that the Investor shall remain subject to applicable law. To the extent that any notice provided pursuant to this Agreement,
the Pre-Funded Warrant or the Warrant constitutes, or contains, material, non-public information regarding the Company or any subsidiaries,
the Company shall simultaneously file such notice with the SEC pursuant to a Current Report on Form 8-K. The Company understands
and confirms that the Investor shall be relying on the provisions of this Section 13 in effecting transactions in securities of
the Company.

 

14.               Termination.
In the event that the Placement Agreement is terminated by the Placement Agent pursuant to the terms thereof, this Agreement
shall terminate without any further action on the part of the parties hereto.

 

15.               Representations
and Warranties of the Company. The Company acknowledges and agrees that the Investor is the third party beneficiary of the
representations and warranties of the Company in Section 3 of the Placement Agreement.

 

     

     

    

 

16.               Equal
Treatment of Purchasers. No consideration (including any modification of any subscription agreement executed pursuant to the
Offering or any Pre-Funded Warrants or Warrants issued pursuant to the Offering (each a “Transaction Document”))
shall be offered or paid to any person to amend or consent to a waiver or modification of any provision of any Transaction Document
unless the same consideration is also offered to the each investor party to the Offering pursuant to this Agreement or other Subscription
Agreements, including the Investor. For clarification purposes, this provision constitutes a separate right granted to the Investor
by the Company and negotiated separately by the Investor, and is intended for the Company to treat the investors party to the Offering
as a class and shall not in any way be construed as any of the investors party to the Offering acting in concert or as a group
with respect to the purchase, disposition or voting of Securities or otherwise.

 

17.               Lock-Up.
The Company shall not, for a period of thirty (30) days from the date hereof (the “Lock-Up Period”), without
the prior written consent of the Required Investors, directly or indirectly offer, sell, assign, transfer, pledge, contract to
sell, or otherwise dispose of, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for
Common Stock, other than an Exempt Issuance (as defined in the Placement Agreement); provided, however, that the
foregoing prohibition on issuances of Common Stock or any securities convertible into or exercisable or exchangeable for Common
Stock shall not apply to any issuance at an effective per share price that exceeds the Class A Unit Purchase Price (subject to
adjustment for reverse and forward stock splits and similar transactions). The Company also agrees that during the Lock-Up Period,
the Company will not file any registration statement, preliminary prospectus or prospectus, or any amendment or supplement thereto,
under the Securities Act for any such transaction or which registers, or offers for sale, Common Stock or any securities
convertible into or exercisable or exchangeable for Common Stock, except for a registration statement on Form S-8 relating
to Incentive Plans (as defined in the Placement Agreement). The provisions of this Section 17 may be amended or waived only in
a writing signed by investors which purchased 67% of the sum of the shares of Common Stock and the Pre-Funded Warrants purchased
in the Offering pursuant to this Agreement and other Subscription Agreements (the “Required Investors”).

 

******************

 

     

     

    

 

EXHIBIT A

GREAT BASIN SCIENTIFIC, INC.

INVESTOR QUESTIONNAIRE

 

Pursuant to Section 3 of Annex I to the Agreement,
please provide us with the following information:

 

	1.	The exact name that your Securities are to be registered in.  You may use a nominee name if appropriate:	 	 
	 	 	 	 
	2.	The relationship between the Investor and the registered holder listed in response to item 1 above:	 	 
	 	 	 	 
	3.	The mailing address of the registered holder listed in response to item 1 above:	 	 
	 	 	 	 
	4.	The Social Security Number or Tax Identification Number of the registered holder listed in the response to item 1 above:	 	 
	 	 	 	 
	5.	Name of DTC Participant (broker-dealer at which the account or accounts to be credited with the Shares are maintained):	 	 
	 	 	 	 
	6.	DTC Participant Number:	 	 
	 	 	 	 
	7.	Name of Account at DTC Participant being credited with the Shares:	 	 
	 	 	 	 
	8.	Account Number at DTC Participant being credited with the Shares:	 	 

 

     

     

    

 

EXHIBIT B

FORM OF SERIES J WARRANT

 

     

     

    

 

EXHIBIT C

FORM OF SERIES K PRE-FUNDED WARRANTExhibit
4.12

 

BALLANTYNE
STRONG, INC.

2017 OMNIBUS EQUITY COMPENSATION PLAN

 

1.
Establishment, Purpose, Duration.

 

a.
Establishment. Ballantyne Strong, Inc. (the “Company”), hereby establishes an equity compensation plan to be
known as the Ballantyne Strong, Inc. 2017 Omnibus Equity Compensation Plan (the “Plan”). The Plan is effective as
of March 23, 2017 (the “Effective Date”), subject to the approval of the Plan by the stockholders of the Company (the
date of such stockholder approval being the “Approval Date”). Definitions of capitalized terms used in the Plan are
contained in Section 2 of the Plan.

 

b.
Purpose. The purpose of the Plan is to attract and retain Directors, Consultants, officers and other key Employees of the
Company and its Subsidiaries and to provide to such persons incentives and rewards for superior performance.

 

c.
Duration. No Award may be granted under the Plan after the day immediately preceding the tenth (10th) anniversary of the
Effective Date, or such earlier date as the Board shall determine. The Plan will remain in effect with respect to outstanding
Awards until no Awards remain outstanding.

 

d.
Prior Plans. If the Company’s stockholders approve the Plan, each of the Ballantyne Strong, Inc. 2010 Long-Term Incentive
Plan and the Ballantyne Strong, Inc. 2014 Non-Employee Directors’ Restricted Stock Plan (each a “Prior Plan”
and collectively, the “Prior Plans”) will terminate in its entirety effective on the Approval Date; provided
that all outstanding awards under the Prior Plans as of the Approval Date shall remain outstanding and shall be administered and
settled in accordance with the provisions of the applicable Prior Plan.

 

2.
Definitions. As used in the Plan, the following definitions shall apply.

 

“Applicable
Laws” means the applicable requirements relating to the administration of equity-based compensation plans under U.S. state
corporate laws, U.S. federal and state securities laws, the Code, the rules of any stock exchange or quotation system on which
the Shares are listed or quoted and the applicable laws of any other country or jurisdiction where Awards are granted under the
Plan.

 

“Approval
Date” has the meaning given such term in Section 1(a).

 

“Award”
means an award of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Shares, Restricted
Share Units, Other Share-Based Awards, or Cash-Based Awards granted pursuant to the terms and conditions of the Plan.

 

“Award
Agreement” means either: (a) an agreement, in written or electronic format, entered into by the Company and a Participant
setting forth the terms and provisions applicable to an Award granted under the Plan; or (b) a statement, in written or electronic
format, issued by the Company to a Participant describing the terms and provisions of such Award, which need not be signed by
the Participant.

 

    	 	 	 

    	 

    

 

“Board”
means the Board of Directors of the Company.

 

“Cash-Based
Award” shall mean a cash Award granted pursuant to Section 11 of the Plan.

 

“Cause”
as a reason for a Participant’s termination of employment shall have the meaning assigned such term, if any, (i) in the
employment, letter or severance agreement, if any, between the Participant and the Company or a Subsidiary, or (ii) if none, under
a severance plan or arrangement maintained by the Company or a Subsidiary that applies to the Participant on the date of termination.
If the Participant is not a party to an employment, letter or severance agreement with the Company or a Subsidiary in which such
term is defined or if during the applicable severance protection period, the Participant is not a participant in any severance
plan or arrangement maintained by the Company or a Subsidiary, then unless otherwise defined in the applicable Award Agreement,
“Cause” shall mean that the Participant (a) acted dishonestly or incompetently or engaged in willful misconduct in
performance of his or her duties, (b) breached fiduciary duties owed to the Company, (c) intentionally failed to perform reasonably
assigned duties which the Participant did not satisfactorily correct within 30 calendar days following written notification, (d)
was convicted or pleaded guilty plea or plea of nolo contendere of any felony crime involving dishonesty, and/or (e) otherwise
committed any act which could have a material adverse impact on the business of the Company.

 

“Change
in Control” means the occurrence of one of the following events:

 

a.
Change of Ownership. A change in ownership occurs if a person, or a group of persons acting together (in each case, other
than Fundamental Global Investors, LLC and its affiliates), acquires more than fifty percent (50%) of the stock of the Company,
measured by total voting power or fair market value. Incremental increases in ownership by a person or group that already owns
fifty percent (50%) of the stock of the Company do not result in a change of ownership.

 

b.
Change in Effective Control. A change in effective control occurs if, over a twelve (12) month period: (i) a person or
group (other than Fundamental Global Investors, LLC and its affiliates) acquires stock representing fifty percent (50%) of the
total voting power of the Company; or (ii) a majority of the members of the Board is replaced by directors not endorsed by the
persons who were members of the Board before the new directors’ appointment.

 

c.
Change in Ownership of a Substantial Portion of Corporate Assets. A change in control based on the sale of assets occurs
if a person or group (other than Fundamental Global Investors, LLC and its affiliates) acquires fifty percent (50%) or more of
the total gross fair market value of all the assets of the Company over a twelve (12) month period. No change in control results
pursuant to this subparagraph (c) if the assets are transferred to entities owned or controlled directly or indirectly by the
Company.

 

“Code”
means the Internal Revenue Code of 1986, as amended.

 

“Committee”
means the Compensation Committee of the Board or such other committee or subcommittee of the Board as may be duly appointed to
administer the Plan and having such powers in each instance as shall be specified by the Board. To the extent required by Applicable
Laws, the Committee shall consist of two or more members of the Board, each of whom is a “non-employee director” within
the meaning of Rule 16b-3 promulgated under the Exchange Act, an “outside director” within the meaning of regulations
promulgated under Section 162(m) of the Code, and an “independent director” within the meaning of applicable rules
of any securities exchange upon which Shares are listed.

 

    	 	 2	 

    	 

    

 

“Company”
has the meaning given such term in Section 1(a) and any successor thereto.

 

“Consultant”
means an independent contractor that (a) performs services for the Company or a Subsidiary in a capacity other than as an Employee
or Director and (b) qualifies as a consultant under the applicable rules of the SEC for registration of shares on a Form S-8 Registration
Statement.

 

“Date
of Grant” means the date specified by the Committee on which the grant of an Award is to be effective. The Date of Grant
shall not be earlier than the date of the resolution and action therein by the Committee. In no event shall the Date of Grant
be earlier than the Effective Date.

 

“Director”
means any individual who is a member of the Board and who is not an Employee.

 

“Detrimental
Activity” except as may be otherwise specified in a Participant’s Award Agreement, means: (a) Engaging in any activity
of competition, as specified in any covenant not to compete set forth in any agreement between a Participant and the Company or
a Subsidiary, including, but not limited to, the Participant’s Award Agreement or any severance plan maintained by the Company
or a Subsidiary that covers the Participant, during the period of restriction specified in the agreement or plan prohibiting the
Participant from engaging in such activity; (b) Engaging in any activity of solicitation, as specified in any covenant not to
solicit set forth in any agreement between a Participant and the Company or a Subsidiary, including, but not limited to, the Participant’s
Award Agreement or any severance plan maintained by the Company or a Subsidiary that covers the Participant, during the period
of restriction specified in the agreement or plan prohibiting the Participant from engaging in such activity; (c) The disclosure
of confidential information to anyone outside the Company or a Subsidiary, or the use in other than the Company’s or a Subsidiary’s
business in violation of any covenant not to disclose set forth in any agreement between a Participant and the Company or a Subsidiary,
including, but not limited to, the Participant’s Award Agreement or any severance plan maintained by the Company or a Subsidiary
that covers the Participant, during the period of restriction specified in the agreement or plan prohibiting the Participant from
engaging in such activity; (d) The violation of any development and inventions, ownership of works, or similar provision set forth
in any agreement between a Participant and the Company or a Subsidiary, including, but not limited to, the Participant’s
Award Agreement or any severance plan maintained by the Company or a Subsidiary that covers the Participant; (e) Participant’s
commission of any act of fraud, misappropriation or embezzlement against or in connection with the Company or any of its Subsidiaries
or their respective businesses or operations; or (f) a conviction, guilty plea or plea of nolo contendere of Participant for any
crime involving dishonesty or for any felony.

 

    	 	 3	 

    	 

    

 

“Effective
Date” has the meaning given such term in Section 1(a).

 

“Employee”
means any employee of the Company or a Subsidiary; provided, however, that for purposes of determining whether any
person may be a Participant for purposes of any grant of Incentive Stock Options, the term “Employee” has the meaning
given to such term in Section 3401(c) of the Code, as interpreted by the regulations thereunder and Applicable Law.

 

“Exchange
Act” means the Securities Exchange Act of 1934 and the rules and regulations thereunder, as such law, rules and regulations
may be amended from time to time.

 

“Fair
Market Value” means the value of one Share on any relevant date, determined under the following rules: (a) the closing sale
price per Share on that date as reported on the principal exchange on which Shares are then trading, if any, or if applicable
the NYSE MKT, or if there are no sales on that date, on the next preceding trading day during which a sale occurred; (b) if the
Shares are not reported on a principal exchange or national market system, the average of the closing bid and asked prices last
quoted on that date by an established quotation service for over-the-counter securities; or (c) if neither (a) nor (b) applies,
(i) with respect to Stock Options, Stock Appreciation Rights and any Award of stock rights that is subject to Section 409A of
the Code, the value as determined by the Committee through the reasonable application of a reasonable valuation method, taking
into account all information material to the value of the Company, within the meaning of Section 409A of the Code, and (ii) with
respect to all other Awards, the fair market value as determined by the Committee in good faith.

 

“Good
Reason” as a reason for a Participant’s termination of employment shall have the meaning assigned such term, if any,
(i) in the employment, letter or severance agreement, if any, between the Participant and the Company or a Subsidiary, or (ii)
if none, under a severance plan or arrangement maintained by the Company or a Subsidiary that applies to the Participant on the
date of termination. If the Participant is not a party to an employment, letter or severance agreement with the Company or a Subsidiary
in which such term is defined or if during the applicable severance protection period, the Participant is not a participant in
any severance plan or arrangement maintained by the Company or a Subsidiary, then unless otherwise defined in the applicable Award
Agreement, “Good Reason” shall mean, without the Participant’s consent: (a) any material diminution in the Participant’s
compensation or benefits, unless such diminution is made generally applicable to all similarly situated employees of the Company,
(b) the assignment to the Participant of any duties inconsistent with, or substantially adverse to his or her status and duties,
or a reduction in title, (c) a material breach by the Company or a Subsidiary of its obligations under the Participant’s
employment agreement, if any, and/or (d) the relocation of the Participant’s primary work location to a location more than
fifty (50) miles away from its current location. A termination of Participant’s employment by Participant shall not be deemed
to be for Good Reason unless (x) Participant gives notice to the Company of the existence of the event or condition constituting
Good Reason within 30 calendar days after such event or condition initially occurs or exists, and (y) the Company fails to cure
such event or condition within 30 calendar days after receiving such notice. Additionally, Participant must terminate his or her
employment within 90 calendar days after the initial occurrence of the circumstance constituting Good Reason for such termination
to be “Good Reason” hereunder.

 

    	 	 4	 

    	 

    

 

“Incentive
Stock Option” or “ISO” means a Stock Option that is designated as an Incentive Stock Option and that is intended
to meet the requirements of Section 422 of the Code.

 

“Nonqualified
Stock Option” means a Stock Option that is not intended to meet the requirements of Section 422 of the Code or otherwise
does not meet such requirements.

 

“Other
Share-Based Award” means an equity-based or equity-related Award not otherwise described by the terms of the Plan, granted
in accordance with the terms and conditions set forth in Section 10.

 

“Participant”
means any eligible individual as set forth in Section 5 who holds one or more outstanding Awards.

 

“Performance-Based
Exception” means the performance-based exception from the tax deductibility limitations of Section 162(m) of the Code.

 

“Performance
Objectives” means the performance objective or objectives established by the Committee with respect to an Award granted
pursuant to the Plan. Any Performance Objectives may relate to the performance of the Company or one or more of its Subsidiaries,
divisions, departments, units, functions, partnerships, joint ventures or minority investments, product lines or products, or
the performance of the individual Participant, and may include, without limitation, the Performance Objectives set forth in Section
13(b). The Performance Objectives may be made relative to the performance of a group of comparable companies, or a published or
special index that the Committee, in its sole discretion, deems appropriate, or the Company may select Performance Objectives
as compared to various stock market indices. Performance Objectives may be stated as a combination of the listed factors. Any
Performance Objectives that are financial metrics may be determined in accordance with United States Generally Accepted Accounting
Principles (“GAAP”), if applicable, or may be adjusted when established to include or exclude any items otherwise
includable or excludable under GAAP.

 

“Plan”
means this Ballantyne Strong, Inc. 2017 Omnibus Equity Compensation Plan, as amended from time to time.

 

“Prior
Plan” and “Prior Plans” have the meaning given such terms in Section 1(d).

 

“Qualified
Termination” means any termination of a Participant’s employment during the two-year period commencing on a Change
in Control by the Company, any of its Subsidiaries or the resulting entity in connection with a Change in Control other than for
Cause or by the Participant for Good Reason.

 

“Restricted
Shares” means Shares granted or sold pursuant to Section 8 as to which neither the substantial risk of forfeiture nor the
prohibition on transfers referred to in such Section 8 has expired.

 

“Restricted
Share Unit” means a grant or sale of the right to receive Shares or cash at the end of a specified restricted period made
pursuant to Section 9.

 

    	 	 5	 

    	 

    

 

“SEC”
means the United States Securities and Exchange Commission.

 

“Share”
means a share of common stock of the Company, $0.01 par value per share, or any security into which such Share may be changed
by reason of any transaction or event of the type referred to in Section 15.

 

“Stock
Appreciation Right” means a right granted pursuant to Section 7.

 

“Stock
Option” means a right to purchase a Share granted to a Participant under the Plan in accordance with the terms and conditions
set forth in Section 6. Stock Options may be either Incentive Stock Options or Nonqualified Stock Options.

 

“Subsidiary”
means: (a) with respect to an Incentive Stock Option, a “subsidiary corporation” as defined under Section 424(f) of
the Code; and (b) for all other purposes under the Plan, any corporation or other entity in which the Company owns, directly or
indirectly, a proprietary interest of more than fifty percent (50%) by reason of stock ownership or otherwise.

 

“Ten
Percent Stockholder” shall mean any Participant who owns more than 10% of the combined voting power of all classes of stock
of the Company, within the meaning of Section 422 of the Code.

 

3.
Shares Available Under the Plan.

 

a.
Shares Available for Awards. The maximum number of Shares that may be granted pursuant to Awards under the Plan shall be
1,771,189 Shares, reduced by Shares covered by an award granted under a Prior Plan after December 31, 2016 but prior to the Approval
Date, and increased by Shares covered by an award outstanding under a Prior Plan after December 31, 2016 that is forfeited, canceled,
surrendered, settled in cash or otherwise terminated without the issuance of such Share. No more than 1,771,189 Shares may be
issued pursuant to Incentive Stock Options. Shares issued or delivered pursuant to an Award may be authorized but unissued Shares,
treasury Shares, including Shares purchased in the open market, or a combination of the foregoing. The aggregate number of Shares
available for issuance or delivery under the Plan shall be subject to adjustment as provided in Section 15.

 

b.
Share Counting. The following Shares shall not count against the Share limit in Section 3(a): (i) Shares covered by an
Award that expires or is forfeited, canceled, surrendered, or otherwise terminated without the issuance of such Shares; (ii) Shares
covered by an Award that is settled only in cash; and (iii) Shares granted through the assumption of, or in substitution for,
outstanding awards granted by a company to individuals who become Employees, Directors or Consultants as the result of a merger,
consolidation, acquisition or other corporate transaction involving such company and the Company or any of its Affiliates (except
as may be required by reason of the rules and regulations of any stock exchange or other trading market on which the Shares are
listed). This Section 3(b) shall apply to the number of Shares reserved and available for Incentive Stock Options only to the
extent consistent with applicable Treasury regulations relating to Incentive Stock Options under the Code.

 

c.
Prohibition of Share Recycling. The following Shares subject to an Award shall not again be available for grant as described
above, regardless of whether those Shares are actually issued or delivered to the Participant: (i) Shares tendered in payment
of the exercise price of a Stock Option; (ii) Shares withheld by the Company or any Subsidiary to satisfy a tax withholding obligation;
and (iii) Shares that are repurchased by the Company with Stock Option proceeds. Without limiting the foregoing, with respect
to any Stock Appreciation Right that is settled in Shares, the full number of Shares subject to the Award shall count against
the number of Shares available for Awards under the Plan regardless of the number of Shares used to settle the Stock Appreciation
Right upon exercise.

 

    	 	 6	 

    	 

    

 

d.
Performance-Based Exception Limits. Subject to adjustment as provided in Section 15 of the Plan, the following limits shall
apply with respect to Awards that are intended to qualify for the Performance-Based Exception: (i) the maximum aggregate number
of Shares that may be subject to Stock Options or Stock Appreciation Rights granted in any calendar year to any one Participant
shall be 200,000 Shares; (ii) the maximum aggregate number of Restricted Shares and Shares issuable or deliverable under Restricted
Share Units and Other Share-Based Awards granted in any calendar year to any one Participant shall be 120,000 Shares; (iii) the
maximum aggregate compensation that can be paid pursuant to Cash-Based Awards or Other Share-Based Awards granted in any calendar
year to any one Participant shall be $1,000,000 or a number of Shares having an aggregate Fair Market Value not in excess of such
amount; and (iv) the maximum dividend equivalents that may be paid in any calendar year to any one Participant shall be $100,000
or a number of Shares having an aggregate Fair Market Value not in excess of such amount.

 

e.
Director Limits. Notwithstanding any other provision of the Plan to the contrary, the aggregate grant date fair value (computed
as of the date of grant in accordance with applicable financial accounting rules) of all Awards granted to any Director during
any single calendar year, taken together with any cash fees paid to such person during such calendar year, shall not exceed $200,000.

 

4.
Administration of the Plan.

 

a.
In General. The Plan shall be administered by the Committee. Except as otherwise provided by the Board, the Committee shall
have full and final authority in its discretion to take all actions determined by the Committee to be necessary in the administration
of the Plan, including, without limitation, discretion to: select Award recipients; determine the sizes and types of Awards; determine
the terms and conditions of Awards in a manner consistent with the Plan; grant waivers of terms, conditions, restrictions and
limitations applicable to any Award, or accelerate the vesting or exercisability of any Award, in a manner consistent with the
Plan; construe and interpret the Plan and any Award Agreement or other agreement or instrument entered into under the Plan; establish,
amend, or waive rules and regulations for the Plan’s administration; and take such other action, not inconsistent with the
terms of the Plan, as the Committee deems appropriate. To the extent permitted by Applicable Laws, the Committee may, in its sole
discretion, delegate to one or more Directors or Employees any of the Committee’s authority under the Plan. The acts of
any such delegates shall be treated hereunder as acts of the Committee with respect to any matters so delegated.

 

b.
Determinations. The Committee shall have no obligation to treat Participants or eligible Participants uniformly, and the
Committee may make determinations under the Plan selectively among Participants who receive, or Employees, Directors or Consultants
who are eligible to receive, Awards (whether or not such Participants or eligible Employees, Directors or Consultants are similarly
situated). All determinations and decisions made by the Committee pursuant to the provisions of the Plan and all related orders
and resolutions of the Committee shall be final, conclusive and binding on all persons, including the Company, its Subsidiaries,
stockholders, Directors, Consultants, Employees, Participants and their estates and beneficiaries.

 

    	 	 7	 

    	 

    

 

c.
Authority of the Board. The Board may reserve to itself any or all of the authority or responsibility of the Committee
under the Plan or may act as the administrator of the Plan for any and all purposes. To the extent the Board has reserved any
such authority or responsibility or during any time that the Board is acting as administrator of the Plan, it shall have all the
powers of the Committee hereunder, and any reference herein to the Committee (other than in this Section 4(c)) shall include the
Board. To the extent that any action of the Board under the Plan conflicts with any action taken by the Committee, the action
of the Board shall control.

 

5.
Eligibility and Participation. Each Employee, Director and Consultant is eligible to participate in the Plan. Subject to the
provisions of the Plan, the Committee may, from time to time, select from all eligible Employees, Directors and Consultants those
to whom Awards shall be granted and shall determine, in its sole discretion, the nature of any and all terms permissible by Applicable
Law and the amount of each Award. No Employee, Director or Consultant shall have the right to be selected to receive an Award
under the Plan, or, having been so selected, to be selected to receive future Awards.

 

6.
Stock Options. Subject to the terms and conditions of the Plan, Stock Options may be granted to Participants in such number,
and upon such terms and conditions, as shall be determined by the Committee in its sole discretion.

 

a.
Award Agreement. Each Stock Option shall be evidenced by an Award Agreement that shall specify the exercise price, the
term of the Stock Option, the number of Shares covered by the Stock Option, the conditions upon which the Stock Option shall become
vested and exercisable and such other terms and conditions as the Committee shall determine and which are not inconsistent with
the terms and conditions of the Plan. The Award Agreement also shall specify whether the Stock Option is intended to be an Incentive
Stock Option or a Nonqualified Stock Option. No dividend equivalents may be granted with respect to the Shares underlying a Stock
Option.

 

b.
Exercise Price. The exercise price per Share of a Stock Option shall be determined by the Committee at the time the Stock
Option is granted and shall be specified in the related Award Agreement; provided, however, that in no event shall the
exercise price per Share of any Stock Option be less than one hundred percent (100%) of the Fair Market Value of a Share on the
Date of Grant.

 

c.
Term. The term of a Stock Option shall be determined by the Committee and set forth in the related Award Agreement; provided,
however, that in no event shall the term of any Stock Option exceed ten (10) years from its Date of Grant.

 

    	 	 8	 

    	 

    

 

d.
Exercisability. Stock Options shall become vested and exercisable at such times and upon such terms and conditions as shall
be determined by the Committee and set forth in the related Award Agreement. Such terms and conditions may include, without limitation,
the satisfaction of (a) performance goals based on one or more Performance Objectives, and (b) time-based vesting requirements.

 

e.
Exercise of Stock Options. Except as otherwise provided in the Plan or in a related Award Agreement, a Stock Option may
be exercised for all or any portion of the Shares for which it is then exercisable. A Stock Option shall be exercised by the delivery
of a notice of exercise to the Company or its designee in a form specified by the Company which sets forth the number of Shares
with respect to which the Stock Option is to be exercised and full payment of the exercise price for such Shares. The exercise
price of a Stock Option may be paid, in the discretion of the Committee and as set forth in the applicable Award Agreement: (i)
in cash or its equivalent; (ii) by tendering (either by actual delivery or attestation) previously acquired Shares having an aggregate
Fair Market Value at the time of exercise equal to the aggregate exercise price; (iii) by a cashless exercise (including by withholding
Shares deliverable upon exercise and through a broker-assisted arrangement to the extent permitted by Applicable Laws); (iv) by
a combination of the methods described in clauses (i), (ii) and/or (iii); or (v) through any other method approved by the Committee
in its sole discretion. As soon as practicable after receipt of the notification of exercise and full payment of the exercise
price, the Company shall cause the appropriate number of Shares to be issued to the Participant.

 

f.
Special Rules Applicable to Incentive Stock Options. Notwithstanding any other provision in the Plan to the contrary:

 

(i)
Incentive Stock Options may be granted only to Employees of the Company and its Subsidiaries. The terms and conditions of Incentive
Stock Options shall be subject to and comply with the requirements of Section 422 of the Code.

 

(ii)
To the extent that the aggregate Fair Market Value of the Shares (determined as of the Date of Grant) with respect to which an
Incentive Stock Option is exercisable for the first time by any Participant during any calendar year (under all plans of the Company
and its Subsidiaries) is greater than $100,000 (or such other amount specified in Section 422 of the Code), as calculated under
Section 422 of the Code, then the Stock Option shall be treated as a Nonqualified Stock Option.

 

(iii)
No Incentive Stock Option shall be granted to any Participant who, on the Date of Grant, is a Ten Percent Stockholder, unless
(x) the exercise price per Share of such Incentive Stock Option is at least one hundred and ten percent (110%) of the Fair Market
Value of a Share on the Date of Grant, and (y) the term of such Incentive Stock Option shall not exceed five (5) years from the
Date of Grant.

 

7.
Stock Appreciation Rights. Subject to the terms and conditions of the Plan, Stock Appreciation Rights may be granted to Participants
in such number, and upon such terms and conditions, as shall be determined by the Committee in its sole discretion.

 

a.
Award Agreement. Each Stock Appreciation Right shall be evidenced by an Award Agreement that shall specify the exercise
price, the term of the Stock Appreciation Right, the number of Shares covered by the Stock Appreciation Right, the conditions
upon which the Stock Appreciation Right shall become vested and exercisable and such other terms and conditions as the Committee
shall determine and which are not inconsistent with the terms and conditions of the Plan. No dividend equivalents may be granted
with respect to the Shares underlying a Stock Appreciation Right.

 

    	 	 9	 

    	 

    

 

b.
Exercise Price. The exercise price per Share of a Stock Appreciation Right shall be determined by the Committee at the
time the Stock Appreciation Right is granted and shall be specified in the related Award Agreement; provided, however,
that in no event shall the exercise price per Share of any Stock Appreciation Right be less than one hundred percent (100%) of
the Fair Market Value of a Share on the Date of Grant.

 

c.
Term. The term of a Stock Appreciation Right shall be determined by the Committee and set forth in the related Award Agreement;
provided, however, that in no event shall the term of any Stock Appreciation Right exceed ten (10) years from its Date
of Grant.

 

d.
Exercisability of Stock Appreciation Rights. A Stock Appreciation Right shall become vested and exercisable at such times
and upon such terms and conditions as may be determined by the Committee and set forth in the related Award Agreement. Such terms
and conditions may include, without limitation, the satisfaction of (i) performance goals based on one or more Performance Objectives,
and (ii) time-based vesting requirements.

 

e.
Exercise of Stock Appreciation Rights. Except as otherwise provided in the Plan or in a related Award Agreement, a Stock
Appreciation Right may be exercised for all or any portion of the Shares for which it is then exercisable. A Stock Appreciation
Right shall be exercised by the delivery of a notice of exercise to the Company or its designee in a form specified by the Company
which sets forth the number of Shares with respect to which the Stock Appreciation Right is to be exercised. Upon exercise, a
Stock Appreciation Right shall entitle a Participant to an amount equal to (a) the excess of (i) the Fair Market Value of a Share
on the exercise date over (ii) the exercise price per Share, multiplied by (b) the number of Shares with respect to which the
Stock Appreciation Right is exercised. A Stock Appreciation Right may be settled in whole Shares, cash or a combination thereof,
as specified by the Committee in the related Award Agreement.

 

8.
Restricted Shares. Subject to the terms and conditions of the Plan, Restricted Shares may be granted or sold to Participants
in such number, and upon such terms and conditions, as shall be determined by the Committee in its sole discretion.

 

a.
Award Agreement. Each Restricted Shares Award shall be evidenced by an Award Agreement that shall specify the number of
Restricted Shares, the restricted period(s) applicable to the Restricted Shares, the conditions upon which the restrictions on
the Restricted Shares will lapse and such other terms and conditions as the Committee shall determine and which are not inconsistent
with the terms and conditions of the Plan.

 

    	 	 10	 

    	 

    

 

b.
Terms, Conditions and Restrictions. The Committee shall impose such other terms, conditions and/or restrictions on any
Restricted Shares as it may deem advisable, including, without limitation, a requirement that the Participant pay a purchase price
for each Restricted Share, restrictions based on the achievement of specific Performance Objectives, time-based restrictions or
holding requirements or sale restrictions placed on the Shares by the Company upon vesting of such Restricted Shares. Unless otherwise
provided in the related Award Agreement or required by applicable law, the restrictions imposed on Restricted Shares shall lapse
upon the expiration or termination of the applicable restricted period and the satisfaction of any other applicable terms and
conditions.

 

c.
Custody of Certificates. To the extent deemed appropriate by the Committee, the Company may retain any certificates representing
Restricted Shares in the Company’s possession until such time as all terms, conditions and/or restrictions applicable to
such Shares have been satisfied or lapse.

 

d.
Rights Associated with Restricted Shares during Restricted Period. During any restricted period applicable to Restricted
Shares: (i) the Restricted Shares may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated; (ii)
unless otherwise provided in the related Award Agreement, the Participant shall be entitled to exercise full voting rights associated
with such Restricted Shares; and (iii) the Participant shall be entitled to all dividends and other distributions paid with respect
to such Restricted Shares during the restricted period; provided, however, that any dividends with respect to unvested Restricted
Shares shall be accumulated or deemed reinvested in additional Restricted Shares, subject to the same terms and conditions as
the original Award (including service-based vesting conditions and any Performance Objectives) until such Award is earned and
vested.

 

9.
Restricted Share Units. Subject to the terms and conditions of the Plan, Restricted Share Units may be granted or sold to
Participants in such number, and upon such terms and conditions, as shall be determined by the Committee in its sole discretion.

 

a.
Award Agreement. Each Restricted Share Unit Award shall be evidenced by an Award Agreement that shall specify the number
of units, the restricted period(s) applicable to the Restricted Share Units, the conditions upon which the restrictions on the
Restricted Share Units will lapse, the time and method of payment of the Restricted Share Units, and such other terms and conditions
as the Committee shall determine and which are not inconsistent with the terms and conditions of the Plan.

 

b.
Terms, Conditions and Restrictions. The Committee shall impose such other terms, conditions and/or restrictions on any
Restricted Share Units as it may deem advisable, including, without limitation, a requirement that the Participant pay a purchase
price for each Restricted Share Unit, restrictions based on the achievement of specific Performance Objectives or time-based restrictions
or holding requirements.

 

c.
Form of Settlement. Restricted Share Units may be settled in whole Shares, cash or a combination thereof, as specified
by the Committee in the related Award Agreement.

 

    	 	 11	 

    	 

    

 

d.
Dividend Equivalents. Restricted Share Units may provide the Participant with dividend equivalents, payable either in cash
or in additional Shares, as determined by the Committee in its sole discretion and set forth in the related Award Agreement; provided,
however, that any dividend equivalents with respect to unvested Restricted Share Units shall be accumulated or deemed reinvested
in additional Restricted Share Units, subject to the same terms and conditions as the original Award (including service-based
vesting conditions and any Performance Objectives) until such Award is earned and vested.

 

10.
Other Share-Based Awards. Subject to the terms and conditions of the Plan, Other Share-Based Awards may be granted to Participants
in such number, and upon such terms and conditions, as shall be determined by the Committee in its sole discretion. Other Share-Based
Awards are Awards that are valued in whole or in part by reference to, or otherwise based on the Fair Market Value of, Shares,
and shall be in such form as the Committee shall determine, including without limitation, unrestricted Shares or time-based or
performance-based units that are settled in Shares and/or cash.

 

a.
Award Agreement. Each Other Share-Based Award shall be evidenced by an Award Agreement that shall specify the terms and
conditions upon which the Other Share-Based Award shall become vested, if applicable, the time and method of settlement, the form
of settlement and such other terms and conditions as the Committee shall determine and which are not inconsistent with the terms
and conditions of the Plan.

 

b.
Form of Settlement. An Other Share-Based Award may be settled in whole Shares, cash or a combination thereof, as specified
by the Committee in the related Award Agreement.

 

c.
Dividend Equivalents. Other Share-Based Awards may provide the Participant with dividend equivalents, on payable either
in cash or in additional Shares, as determined by the Committee in its sole discretion and set forth in the related Award Agreement;
provided, however, that any dividend equivalents with respect to unvested Other Share-Based Awards shall be accumulated or deemed
reinvested, subject to the same terms and conditions as the original Award (including service-based vesting conditions and any
Performance Objectives) until such Award is earned and vested.

 

11.
Cash-Based Awards. Subject to the terms and conditions of the Plan, Cash-Based Awards may be granted to Participants in such
amounts and upon such other terms and conditions as shall be determined by the Committee in its sole discretion. Each Cash-Based
Award shall be evidenced by an Award Agreement that shall specify the payment amount or payment range, the time and method of
settlement and the other terms and conditions, as applicable, of such Award which may include, without limitation, restrictions
based on the achievement of specific Performance Objectives.

 

12.
Compliance with Section 409A. Awards granted under the Plan shall be designed and administered in such a manner that they
are either exempt from the application of, or comply with, the requirements of Section 409A of the Code. To the extent that the
Committee determines that any award granted under the Plan is subject to Section 409A of the Code, the Award Agreement shall incorporate
the terms and conditions necessary to avoid the imposition of an additional tax under Section 409A of the Code upon a Participant.
Notwithstanding any other provision of the Plan or any Award Agreement (unless the Award Agreement provides otherwise with specific
reference to this Section 12): (i) an Award shall not be granted, deferred, accelerated, extended, paid out, settled, substituted
or modified under the Plan in a manner that would result in the imposition of an additional tax under Section 409A of the Code
upon a Participant; and (ii) if an Award is subject to Section 409A of the Code, and if the Participant holding the award is a
“specified employee” (as defined in Section 409A of the Code, with such classification to be determined in accordance
with the methodology established by the Company), then, to the extent required to avoid the imposition of an additional tax under
Section 409A of the Code upon a Participant, no distribution or payment of any amount shall be made before the date that is six
(6) months following the date of such Participant’s “separation from service” (as defined in Section 409A of
the Code) or, if earlier, the date of the Participant’s death. Although the Company intends to administer the Plan so that
Awards will be exempt from, or will comply with, the requirements of Section 409A of the Code, the Company does not warrant that
any Award under the Plan will qualify for favorable tax treatment under Section 409A of the Code or any other provision of federal,
state, local, or non-United States law. The Company shall not be liable to any Participant for any tax, interest, or penalties
the Participant might owe as a result of the grant, holding, vesting, exercise, or payment of any Award under the Plan.

 

    	 	 12	 

    	 

    

 

13.
Compliance with Section 162(m).

 

a.
In General. Notwithstanding anything in the Plan to the contrary, Awards may be granted in a manner that is intended to
qualify for the Performance-Based Exception. As determined by the Committee in its sole discretion, the grant, vesting, exercisability
and/or settlement of any Restricted Shares, Restricted Share Units, Other Share-Based Awards and Cash-Based Awards intended to
qualify for the Performance-Based Exception shall be conditioned on the attainment of one or more Performance Objectives during
a performance period established by the Committee and must satisfy the requirements of this Section 13.

 

b.
Performance Objectives. If an Award is intended to qualify for the Performance-Based Exception, then the Performance Objectives
shall be based on specified levels of or growth in one or more of the following criteria: return on equity, earnings per share,
total earnings, earnings growth, return on capital, return on assets, earnings before interest, taxes, depreciation and/or amortization,
sales, sales growth, gross margin, return on investment, increase in the fair market value of the Company’s common stock,
share price (including but not limited to, growth measures and total stockholder return), operating income or profit, net earnings,
cash flow (including, but not limited to, operating cash flow and free cash flow), cash flow return on investment (which equals
net cash flow divided by total capital), inventory terms, financial return ratios, total return to stockholders, market share,
earnings measures/ratios, economic or incremental value added, economic profit, balance sheet measurements such as receivable
turnover, internal rate of return, increase in net present value or expense targets, working capital measurements (such as average
working capital divided by sales), customer or dealer satisfaction surveys and productivity.

 

c.
Establishment of Performance Objectives. With respect to Awards intended to qualify for the Performance-Based Exception,
the Committee shall establish: (i) the applicable Performance Objectives and performance period, and (ii) the formula for computing
the payout. Such terms and conditions shall be established in writing while the outcome of the applicable performance period is
substantially uncertain, but in no event later than the earlier of: (x) ninety days after the beginning of the applicable performance
period; or (y) the expiration of twenty-five percent (25%) of the applicable performance period.

 

    	 	 13	 

    	 

    

 

d.
Certification of Performance. With respect to any Award intended to qualify for the Performance-Based Exception, the Committee
shall certify in writing whether the applicable Performance Objectives and other material terms imposed on such Award have been
satisfied, and, if they have, ascertain the amount of the payout or vesting of the Award. Notwithstanding any other provision
of the Plan, payment or vesting of any such Award shall not be made until the Committee certifies in writing that the applicable
Performance Objectives and any other material terms of such Award were in fact satisfied in a manner conforming to applicable
regulations under Section 162(m) of the Code.

 

e.
Adjustments. If the Committee determines that a change in the Company’s business, operations, corporate structure
or capital structure, or in the manner in which it conducts its business, or other events or circumstances render the Performance
Objectives unsuitable, the Committee may in its discretion adjust such Performance Objectives or the related level of achievement,
in whole or in part, as the Committee deems appropriate and equitable, including, without limitation, to exclude the effects of
events that are unusual in nature or infrequent in occurrence (as determined in accordance with applicable financial accounting
standards), cumulative effects of tax or accounting changes, discontinued operations, acquisitions, divestitures and material
restructuring or asset impairment charges; provided, however, that in no event will any such adjustment be made that would cause
an Award intended to qualify for the Performance-Based Exception to fail to so qualify.

 

f.
Negative Discretion. With respect to any Award intended to qualify for the Performance-Based Exception, after the date
that the Performance Objectives are required to be established in writing pursuant to Section 13(c), the Committee shall not have
discretion to increase the amount of compensation that is payable upon achievement of the designated Performance Objectives. However,
the Committee may, in its sole discretion, reduce the amount of compensation that is payable upon achievement of the designated
Performance Objectives.

 

14.
Transferability. Except as otherwise determined by the Committee, no Award or dividend equivalents paid with respect to any
Award shall be transferable by the Participant except by will or the laws of descent and distribution; provided, that if
so determined by the Committee, each Participant may, in a manner established by the Board or the Committee, designate a beneficiary
to exercise the rights of the Participant with respect to any Award upon the death of the Participant and to receive Shares or
other property issued or delivered under such Award. Except as otherwise determined by the Committee, Stock Options and Stock
Appreciation Rights will be exercisable during a Participant’s lifetime only by the Participant or, in the event of the
Participant’s legal incapacity to do so, by the Participant’s guardian or legal representative acting on behalf of
the Participant in a fiduciary capacity under state law and/or court supervision.

 

    	 	 14	 

    	 

    

 

15.
Adjustments. In the event of any equity restructuring (within the meaning of Financial Accounting Standards Board Accounting
Standards Codification Topic 718, or any successor thereto), such as a stock dividend, stock split, reverse stock split, spinoff,
rights offering, or recapitalization through a large, nonrecurring cash dividend, the Committee shall cause there to be an equitable
adjustment in the number and kind of Shares specified in Section 3 of the Plan and, with respect to outstanding Awards, in the
number and kind of Shares subject to outstanding Awards and the exercise price or other price of Shares subject to outstanding
Awards, in each case to prevent dilution or enlargement of the rights of Participants. In the event of any other change in corporate
capitalization, or in the event of a merger, consolidation, liquidation, or similar transaction, the Committee may, in its sole
discretion, cause there to be an equitable adjustment as described in the foregoing sentence, to prevent dilution or enlargement
of rights; provided, however, that, unless otherwise determined by the Committee, the number of Shares subject to
any Award shall always be rounded down to a whole number. Notwithstanding the foregoing, the Committee shall not make any adjustment
pursuant to this Section 15 that would (i) cause any Stock Option intended to qualify as an ISO to fail to so qualify, (ii) cause
an Award that is otherwise exempt from Section 409A of the Code to become subject to Section 409A, or (iii) cause an Award that
is subject to Section 409A of the Code to fail to satisfy the requirements of Section 409A. The determination of the Committee
as to the foregoing adjustments, if any, shall be conclusive and binding on all Participants and any other persons claiming under
or through any Participant.

 

16.
Fractional Shares. The Company shall not be required to issue or deliver any fractional Shares pursuant to the Plan and, unless
otherwise provided by the Committee, fractional shares shall be settled in cash.

 

17.
Withholding Taxes. To the extent required by Applicable Law, a Participant shall be required to satisfy, in a manner satisfactory
to the Company or Subsidiary, as applicable, any withholding tax obligations that arise by reason of the exercise of a Stock Option
or Stock Appreciation Right, the vesting of or settlement of Shares under an Award, an election pursuant to Section 83(b) of the
Code or otherwise with respect to an Award. The Company and its Subsidiaries shall not be required to issue or deliver Shares,
make any payment or to recognize the transfer or disposition of Shares until such obligations are satisfied. The Committee may
permit or require these obligations to be satisfied by having the Company withhold a portion of the Shares that otherwise would
be issued or delivered to a Participant upon exercise of a Stock Option or Stock Appreciation Right or upon the vesting or settlement
of an Award, or by tendering Shares previously acquired, in each case having a Fair Market Value equal to the minimum amount required
to be withheld or paid, or such other amount as will not result in an adverse accounting consequence to the Company. Any such
elections are subject to such conditions or procedures as may be established by the Committee and may be subject to disapproval
by the Committee.

 

18.
Foreign Employees. Without amending the Plan, the Committee may grant Awards to Participants who are foreign nationals, or
who are subject to Applicable Laws of one or more non-United States jurisdictions, on such terms and conditions different from
those specified in the Plan as may in the judgment of the Committee be necessary or desirable to foster and promote achievement
of the purposes of the Plan, and, in furtherance of such purposes, the Committee may approve such sub-plans, supplements to or
amendments, modifications, restatements or alternative versions of this Plan as may be necessary or advisable to comply with provisions
of Applicable Laws of other countries in which the Company or its Subsidiaries operate or have employees.

 

    	 	 15	 

    	 

    

 

19.
Detrimental Activity; Forfeiture of Awards.

 

a.
Detrimental Activity. If a Participant engages in Detrimental Activity, either during service with the Company or a Subsidiary
or within two (2) years after termination of such service, then, promptly upon receiving notice of the Committee’s determination,
the Participant shall: (i) forfeit all Awards granted under the Plan to the extent then held by the Participant; (ii) return to
the Company or the Subsidiary all Shares that the Participant has not disposed of that had been acquired pursuant to all Awards
granted under the Plan, in exchange for payment by the Company or the Subsidiary of any amount actually paid therefor by the Participant;
and (iii) with respect to any Shares acquired pursuant to an Award granted under the Plan that were disposed of, pay to the Company
or the Subsidiary, in cash, the excess, if any, of: (A) the Fair Market Value of the Shares on the date acquired, over (B) any
amount actually paid by the Participant for the Shares. This Section 19(a)(ii) and (iii) shall apply only to Shares that were
acquired pursuant to the Award during a period of two (2) years prior to the date of the Participant’s initial commencement
of the Detrimental Activity (or such other period of time specified by the Committee in the Award Agreement).

 

b.
Compensation Recovery Policy. Any Award granted to a Participant shall be subject to forfeiture or repayment pursuant to
the terms of any applicable compensation recovery policy maintained by the Company from time to time, including any such policy
that may be adopted to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act or any rules or regulations issued
by the Securities and Exchange Commission or applicable securities exchange.

 

c.
Set-Off and Other Remedies. To the extent that amounts are not immediately returned or paid to the Company as provided
in this Section 19, the Company may, to the extent permitted by Applicable Laws, seek other remedies, including a set off of the
amounts so payable to it against any amounts that may be owing from time to time by the Company or a Subsidiary to the Participant
for any reason, including, without limitation, wages, or vacation pay or other benefits; provided, however, that, except
to the extent permitted by Treasury Regulation Section 1.409A-3(j)(4), such offset shall not apply to amounts that are “deferred
compensation” within the meaning of Section 409A of the Code.

 

20.
Change in Control.

 

a.
Committee Discretion. The Committee may, in its sole discretion and without the consent of Participants, either by the
terms of the Award Agreement applicable to any Award or by resolution adopted prior to the occurrence of the Change in Control,
determine whether and to what extent outstanding Awards under the Plan shall be assumed, converted or replaced by the resulting
entity in connection with a Change in Control (or, if the Company is the resulting entity, whether such Awards shall be continued
by the Company), in each case subject to equitable adjustments in accordance with Section 15 of the Plan.

 

    	 	 16	 

    	 

    

 

b.
Awards that are Assumed. To the extent outstanding Awards granted under this Plan are assumed, converted or replaced by
the resulting entity in the event of a Change in Control (or, if the Company is the resulting entity, to the extent such Awards
are continued by the Company) as provided in Section 20(a) of the Plan, then: (i) any outstanding Awards that are subject to Performance
Objectives shall be converted by the resulting entity, as if “target” performance had been achieved as of the date
of the Change in Control, and shall continue to vest during the remaining performance period or other period of required service,
and (ii) all other Awards shall continue to vest during the applicable vesting period, if any. Notwithstanding the preceding sentence,
if a Participant incurs a Qualified Termination, then upon such termination (A) all outstanding Awards held by the Participant
that may be exercised shall become fully exercisable and shall remain exercisable for the full duration of their term, (B) all
restrictions with respect to outstanding Awards shall lapse, with any specified Performance Objectives with respect to outstanding
Awards deemed to be satisfied at the “target” level, and (C) all outstanding Awards shall become fully vested.

 

c.
Awards that are not Assumed. To the extent outstanding Awards granted under this Plan are not assumed, converted or replaced
by the resulting entity in connection with a Change in Control (or, if the Company is the resulting entity, to the extent such
Awards are not continued by the Company) in accordance with Section 20(a) of the Plan, then effective immediately prior to the
Change in Control: (i) all outstanding Awards held by the Participant that may be exercised shall become fully exercisable and
shall remain exercisable for the full duration of their term, (ii) all restrictions with respect to outstanding Awards shall lapse,
with any specified Performance Objectives with respect to outstanding Awards deemed to be satisfied at the “target”
level, and (iii) all outstanding Awards shall become fully vested.

 

d.
Cancellation Right. The Committee may, in its sole discretion and without the consent of Participants, either by the terms
of the Award Agreement applicable to any Award or by resolution adopted prior to the occurrence of the Change in Control, provide
that any outstanding Award (or a portion thereof) shall, upon the occurrence of such Change in Control, be cancelled in exchange
for a payment in cash or other property (including shares of the resulting entity in connection with a Change in Control) in an
amount equal to the excess, if any, of the Fair Market Value of the Shares subject to the Award, over any exercise price related
to the Award, which amount may be zero if the Fair Market Value of a Share on the date of the Change in Control does not exceed
the exercise price per Share of the applicable Awards.

 

21.
Amendment, Modification and Termination.

 

a.
In General. The Board may at any time and from time to time, alter, amend, suspend or terminate the Plan in whole or in
part; provided, however, that no alteration or amendment that requires stockholder approval in order for the Plan
to comply with any rule promulgated by the SEC or any securities exchange on which Shares are listed or any other Applicable Laws
shall be effective unless such amendment shall be approved by the requisite vote of stockholders of the Company entitled to vote
thereon within the time period required under such applicable listing standard or rule.

 

b.
Adjustments to Outstanding Awards. The Committee may in its sole discretion at any time (i) provide that all or a portion
of a Participant’s Stock Options, Stock Appreciation Rights and other Awards in the nature of rights that may be exercised
shall become fully or partially exercisable; (ii) provide that all or a part of the time-based vesting restrictions on all or
a portion of the outstanding Awards shall lapse, and/or that any Performance Objectives or other performance-based criteria with
respect to any Awards shall be deemed to be wholly or partially satisfied; or (iii) waive any other limitation or requirement
under any such Award, in each case, as of such date as the Committee may, in its sole discretion, declare. Unless otherwise determined
by the Committee, any such adjustment that is made with respect to an Award that is intended to qualify for the Performance-Based
Exception shall be made at such times and in such manner as will not cause such Awards to fail to qualify under the Performance-Based
Exception. Additionally, the Committee shall not make any adjustment pursuant to this Section 21(b) that would cause an Award
that is otherwise exempt from Section 409A of the Code to become subject to Section 409A, or that would cause an Award that is
subject to Section 409A of the Code to fail to satisfy the requirements of Section 409A.

 

    	 	 17	 

    	 

    

 

c.
Prohibition on Repricing. Except for adjustments made pursuant to Sections 15 or 20, the Board or the Committee will not,
without the further approval of the stockholders of the Company, authorize the amendment of any outstanding Stock Option or Stock
Appreciation Right to reduce the exercise price. No Stock Option or Stock Appreciation Right will be cancelled and replaced with
an Award having a lower exercise price, or for another Award, or for cash without further approval of the stockholders of the
Company, except as provided in Sections 15 or 20. Furthermore, no Stock Option or Stock Appreciation Right will provide for the
payment, at the time of exercise, of a cash bonus or grant or sale of another Award without further approval of the stockholders
of the Company. This Section 21(c) is intended to prohibit the repricing of “underwater” Stock Options or Stock Appreciation
Rights without stockholder approval and will not be construed to prohibit the adjustments provided for in Sections 15 or 20.

 

d.
Effect on Outstanding Awards. Notwithstanding any other provision of the Plan to the contrary (other than Sections 15,
20, 21(b) and 23(d)), no termination, amendment, suspension, or modification of the Plan or an Award Agreement shall adversely
affect in any material way any Award previously granted under the Plan, without the written consent of the Participant holding
such Award; provided that the Committee may modify an ISO held by a Participant to disqualify such Stock Option from treatment
as an “incentive stock option” under Section 422 of the Code without the Participant’s consent.

 

22.
Applicable Laws. The obligations of the Company with respect to Awards under the Plan shall be subject to all Applicable Laws
and such approvals by any governmental agencies as the Committee determines may be required. The Plan and each Award Agreement
shall be governed by the laws of the State of Delaware, excluding any conflicts or choice of law rule or principle that might
otherwise refer construction or interpretation of the Plan to the substantive law of another jurisdiction.

 

23.
Miscellaneous.

 

a.
Deferral of Awards. Except with respect to Stock Options, Stock Appreciation Rights and Restricted Shares, the Committee
may permit Participants to elect to defer the issuance or delivery of Shares or the settlement of Awards in cash under the Plan
pursuant to such rules, procedures or programs as it may establish for purposes of the Plan. The Committee also may provide that
deferred issuances and settlements include the payment or crediting of dividend equivalents or interest on the deferral amounts.
All elections and deferrals permitted under this provision shall comply with Section 409A of the Code, including setting forth
the time and manner of the election (including a compliant time and form of payment), the date on which the election is irrevocable,
and whether the election can be changed until the date it is irrevocable.

 

    	 	 18	 

    	 

    

 

b.
No Right of Continued Employment. The Plan shall not confer upon any Participant any right with respect to continuance
of employment or other service with the Company or any Subsidiary, nor shall it interfere in any way with any right the Company
or any Subsidiary would otherwise have to terminate such Participant’s employment or other service at any time. Awards granted
under the Plan shall not be considered a part of any Participant’s normal or expected compensation or salary for any purposes,
including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end of service payments,
bonuses, long-service awards, pension or retirement or welfare benefits or similar payments, and in no event shall any Award be
considered as compensation for, or relating in any way to, past services for the Company or any Subsidiary or affiliate.

 

c.
Unfunded, Unsecured Plan. Neither a Participant nor any other person shall, by reason of participation in the Plan, acquire
any right or title to any assets, funds or property of the Company or any Subsidiary, including without limitation, any specific
funds, assets or other property which the Company or any Subsidiary may set aside in anticipation of any liability under the Plan.
A Participant shall have only a contractual right to an Award or the amounts, if any, payable under the Plan, unsecured by any
assets of the Company or any Subsidiary, and nothing contained in the Plan shall constitute a guarantee that the assets of the
Company or any Subsidiary shall be sufficient to pay any benefits to any person.

 

d.
Severability. If any provision of the Plan is or becomes invalid, illegal or unenforceable in any jurisdiction, or would
disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed
amended or limited in scope to conform to Applicable Laws or, in the discretion of the Committee, it shall be stricken and the
remainder of the Plan shall remain in full force and effect.

 

e.
Acceptance of Plan. By accepting any benefit under the Plan, each Participant and each person claiming under or through
any such Participant shall be conclusively deemed to have indicated their acceptance and ratification of, and consent to, all
of the terms and conditions of the Plan and any action taken under the Plan by the Committee, the Board or the Company, in any
case in accordance with the terms and conditions of the Plan.

 

f.
Successors. All obligations of the Company under the Plan and with respect to Awards shall be binding on any successor
to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation,
or other event, or a sale or disposition of all or substantially all of the business and/or assets of the Company and references
to the “Company” herein and in any Award Agreements shall be deemed to refer to such successors.

 

[END
OF DOCUMENT]

 

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