Document:

Exhibit
10.1

 

SIDUS
SPACE, INC.

2021 OMNIBUS EQUITY INCENTIVE PLAN

 

Section
1. Purpose of Plan.

 

The
name of the Plan is the Sidus Space, Inc. 2021 Omnibus Equity Incentive Plan. The purposes of the Plan are to (i) provide an additional
incentive to selected employees, directors, independent contractors and consultants of the Company or its Affiliates whose contributions
are essential to the growth and success of the Company, (ii) strengthen the commitment of such individuals to the Company and its Affiliates,
(iii) motivate those individuals to faithfully and diligently perform their responsibilities and (iv) attract and retain competent and
dedicated individuals whose efforts will result in the long-term growth and profitability of the Company. To accomplish these purposes,
the Plan provides that the Company may grant Options, Share Appreciation Rights, Restricted Shares, Restricted Stock Units, Other Share-Based
Awards, Cash Awards or any combination of the foregoing.

 

Section
2. Definitions.

 

For
purposes of the Plan, the following terms shall be defined as set forth below:

 

(a)
“Administrator” means the Board, or, if and to the extent the Board does not administer the Plan, the Committee in
accordance with Section 3 hereof.

 

(b)
“Affiliate” means a Person that directly, or indirectly through one or more intermediaries, controls, or is controlled
by, or is under common control with, the Person specified as of any date of determination.

 

(c)
“Applicable Laws” means the applicable requirements under U.S. federal and state corporate laws, U.S. federal and
state securities laws, including the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the
applicable laws of any other country or jurisdiction where Awards are granted under the Plan, as are in effect from time to time.

 

(d)
“Award” means any Option, Share Appreciation Right, Restricted Share, Restricted Stock Unit, Other Share-Based Award
or Cash Award granted under the Plan.

 

(e)
“Award Agreement” means any written notice, agreement, contract or other instrument or document evidencing an Award,
including through electronic medium, which shall contain such terms and conditions with respect to an Award as the Administrator shall
determine, consistent with the Plan.

 

(f)
“Beneficial Owner” (or any variant thereof) has the meaning defined in Rule 13d-3 under the Exchange Act.

 

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

 

(h)
“Bylaws” mean the bylaws of the Company, as may be amended and/or restated from time to time.

 

(i)
“Cash Award” means cash awarded under Section 11 of the Plan, including cash awarded as a bonus or upon the attainment
of performance goals or otherwise as permitted under the Plan.

 

    	-1-

     

    

 

(j)
“Cause” has the meaning assigned to such term in any individual service, employment or severance agreement or Award
Agreement with the Participant or, if no such agreement exists or if such agreement does not define “Cause,” then “Cause”
means (i) the conviction, guilty plea or plea of “no contest” by the Participant to any felony or a crime involving moral
turpitude or the Participant’s commission of any other act or omission involving dishonesty or fraud, (ii) the substantial and
repeated failure of the Participant to perform duties of the office held by the Participant, (iii) the Participant’s gross negligence,
willful misconduct or breach of fiduciary duty with respect to the Company or any of its Subsidiaries or Affiliates, (iv) any breach
by the Participant of any restrictive covenants to which the Participant is subject, and/or (v) the Participant’s engagement in
any conduct which is or can reasonably be expected to be materially detrimental or injurious to the business or reputation of the Company
or its Affiliates. Any voluntary termination of employment or service by the Participant in anticipation of an involuntary termination
of the Participant’s employment or service, as applicable, for Cause shall be deemed to be a termination for Cause.

 

(k)
“Change in Capitalization” means any (i) merger, consolidation, reclassification, recapitalization, spin-off, spin-out,
repurchase or other reorganization or corporate transaction or event, (ii) special or extraordinary dividend or other extraordinary distribution
(whether in the form of cash, equity interests of the Company or other property), stock split, reverse stock split, share subdivision
or consolidation, (iii) combination or exchange of shares or (iv) other change in corporate structure, which, in any such case, the Administrator
determines, in its sole discretion, affects the Shares such that an adjustment pursuant to Section 5 hereof is appropriate.

 

(l)
“Change in Control” means the first occurrence of an event set forth in any one of the following paragraphs following
the Effective Date:

 

(1)
any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company (not including in the securities
Beneficially Owned by such Person which were acquired directly from the Company or any Affiliate thereof) representing more than fifty
percent (50%) of the combined voting power of the Company’s then outstanding securities, excluding any Person who becomes such
a Beneficial Owner in connection with a transaction described in clause (i) of paragraph (3) below; or

 

(2)
the date on which individuals who constitute the Board as of the Effective Date and any new director (other than a director whose initial
assumption of office is in connection with an actual or threatened election contest, including, but not limited to, a consent solicitation,
relating to the election of directors of the Company) whose appointment or election by the Board or nomination for election by the Company’s
stockholders was approved or recommended by a vote of at least two-thirds (2/3) of the directors then still in office who either were
directors on the Effective Date or whose appointment, election or nomination for election was previously so approved or recommended cease
for any reason to constitute a majority of the number of directors serving on the Board; or

 

(3)
there is consummated a merger or consolidation of the Company or any direct or indirect Subsidiary with any other corporation or other
entity, other than (i) a merger or consolidation (A) which results in the voting securities of the Company outstanding immediately prior
to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities
of the surviving entity or any parent thereof), in combination with the ownership of any trustee or other fiduciary holding securities
under an employee benefit plan of the Company or any Subsidiary, fifty percent (50%) or more of the combined voting power of the securities
of the Company or such surviving entity or any parent thereof outstanding immediately after such merger or consolidation and (B) following
which the individuals who comprise the Board immediately prior thereto constitute at least a majority of the board of directors of the
Company, the entity surviving such merger or consolidation or, if the Company or the entity surviving such merger or consolidation is
then a Subsidiary, the ultimate parent thereof, or (ii) a merger or consolidation effected to implement a recapitalization of the Company
(or similar transaction) in which no Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company
(not including in the securities Beneficially Owned by such Person any securities acquired directly from the Company or its Affiliates)
representing more than fifty percent (50%) of the combined voting power of the Company’s then outstanding securities; or

 

    	-2-

     

    

 

(4)
the stockholders of the Company approve a plan of complete liquidation or dissolution of the Company or there is consummated an agreement
for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than (A) a sale or disposition
by the Company of all or substantially all of the Company’s assets to an entity, more than fifty percent (50%) of the combined
voting power of the voting securities of which are owned by stockholders of the Company following the completion of such transaction
in substantially the same proportions as their ownership of the Company immediately prior to such sale or (B) a sale or disposition of
all or substantially all of the Company’s assets immediately following which the individuals who comprise the Board immediately
prior thereto constitute at least a majority of the board of directors of the entity to which such assets are sold or disposed or, if
such entity is a subsidiary, the ultimate parent thereof.

 

Notwithstanding
the foregoing, (i) a Change in Control shall not be deemed to have occurred by virtue of the consummation of any transaction or series
of integrated transactions immediately following which the holders of Company’s equity interests immediately prior to such transaction
or series of transactions continue to have substantially the same proportionate ownership in an entity which owns all or substantially
all of the assets of the Company immediately following such transaction or series of transactions and (ii) to the extent required to
avoid accelerated taxation and/or tax penalties under Section 409A of the Code, a Change in Control shall be deemed to have occurred
under the Plan with respect to any Award that constitutes deferred compensation under Section 409A of the Code only if a change in the
ownership or effective control of the Company or a change in ownership of a substantial portion of the assets of the Company shall also
be deemed to have occurred under Section 409A of the Code. For purposes of this definition of Change in Control, the term “Person”
shall not include (i) the Company or any Subsidiary thereof, (ii) a trustee or other fiduciary holding securities under an employee benefit
plan of the Company or any Subsidiary thereof, (iii) an underwriter temporarily holding securities pursuant to an offering of such securities,
or (iv) a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their
ownership of shares of the Company.

 

(m)
“Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor thereto.

 

(n)
“Committee” means any committee or subcommittee the Board may appoint to administer the Plan. Subject to the discretion
of the Board, the Committee shall be composed entirely of individuals who meet the qualifications of a “non-employee director”
within the meaning of Rule 16b-3 under the Exchange Act and any other qualifications required by the applicable stock exchange on which
the Common Stock is traded.

 

(o)
“Common Stock” means the Class A common stock of the Company, having a par value of $0.0001 per share.

 

(p)
“Company” means Sidus Space, Inc., a Delaware corporation (or any successor company, except as the term “Company”
is used in the definition of “Change in Control” above).

 

(q)
“Disability” has the meaning assigned to such term in any individual service, employment or severance agreement or
Award Agreement with the Participant or, if no such agreement exists or if such agreement does not define “Disability,” then
“Disability” means that a Participant, as determined by the Administrator in its sole discretion, (i) is unable to engage
in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result
in death or can be expected to last for a continuous period of not less than twelve (12) months, or (ii) is, by reason of any medically
determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period
of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident
and health plan covering employees of the Company or an Affiliate thereof.

 

(r)
“Effective Date” has the meaning set forth in Section 18 hereof.

 

(s)
“Eligible Recipient” means an employee, director, independent contractor or consultant of the Company or any Affiliate
of the Company who has been selected as an eligible participant by the Administrator; provided, however, to the extent
required to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, an Eligible Recipient of an Option or a Stock
Appreciation Right means an employee, non-employee director, independent contractor or consultant of the Company or any Affiliate of
the Company with respect to whom the Company is an “eligible issuer of service recipient stock” within the meaning of Section
409A of the Code.

 

    	-3-

     

    

 

(t)
“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time.

 

(u)
“Exempt Award” shall mean the following:

 

(1)
An Award granted in assumption of, or in substitution for, outstanding awards previously granted by a corporation or other entity acquired
by the Company or any of its Subsidiaries or with which the Company or any of its Subsidiaries combines by merger or otherwise. The terms
and conditions of any such Awards may vary from the terms and conditions set forth in the Plan to the extent the Administrator at the
time of grant may deem appropriate, subject to Applicable Laws.

 

(2)
An “employment inducement” award as described in the applicable stock exchange listing manual or rules may be granted under
the Plan from time to time. The terms and conditions of any “employment inducement” award may vary from the terms and conditions
set forth in the Plan to such extent as the Administrator at the time of grant may deem appropriate, subject to Applicable Laws.

 

(3)
An award that an Eligible Recipient purchases at Fair Market Value (including awards that an Eligible Recipient elects to receive in
lieu of fully vested compensation that is otherwise due) whether or not the shares of Common Stock are delivered immediately or on a
deferred basis.

 

(v)
“Exercise Price” means, (i) with respect to any Option, the per share price at which a holder of such Option may purchase
Shares issuable upon exercise of such Award, and (ii) with respect to a Share Appreciation Right, the base price per share of such Share
Appreciation Right.

 

(w)
“Fair Market Value” of a share of Common Stock or another security as of a particular date shall mean the fair market
value as determined by the Administrator in its sole discretion; provided, that, (i) if the Common Stock or other security
is admitted to trading on a national securities exchange, the fair market value on any date shall be the closing sale price reported
on such date, or if no shares were traded on such date, on the last preceding date for which there was a sale of a share of Common Stock
on such exchange, or (ii) if the Common Stock or other security is then traded in an over-the-counter market, the fair market value on
any date shall be the average of the closing bid and asked prices for such share in such over-the-counter market for the last preceding
date on which there was a sale of such share in such market.

 

(x)
“Free Standing Rights” has the meaning set forth in Section 8.

 

(y)
“Good Reason” has the meaning assigned to such term in any individual service, employment or severance agreement or
Award Agreement with the Participant or, if no such agreement exists or if such agreement does not define “Good Reason,”
“Good Reason” and any provision of this Plan that refers to “Good Reason” shall not be applicable to such Participant.

 

(z)
“Incentive Compensation” means annual cash bonus and any Award.

 

(aa)
“ISO” means an Option intended to be and designated as an “incentive stock option” within the meaning
of Section 422 of the Code.

 

(bb)
“Nonqualified Stock Option” shall mean an Option that is not designated as an ISO.

 

    	-4-

     

    

 

(cc)
“Option” means an option to purchase shares of Common Stock granted pursuant to Section 7 hereof. The term “Option”
as used in the Plan includes the terms “Nonqualified Stock Option” and “ISO.”

 

(dd)
“Other Share-Based Award” means a right or other interest granted pursuant to Section 10 hereof that may be denominated
or payable in, valued in whole or in part by reference to, or otherwise based on or related to, Common Stock, including, but not limited
to, unrestricted Shares, dividend equivalents or performance units, each of which may be subject to the attainment of performance goals
or a period of continued provision of service or employment or other terms or conditions as permitted under the Plan.

 

(ee)
“Participant” means any Eligible Recipient selected by the Administrator, pursuant to the Administrator’s authority
provided for in Section 3 below, to receive grants of Awards, and, upon his or her death, his or her successors, heirs, executors and
administrators, as the case may be.

 

(ff)
“Person” shall have the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d)
and 14(d) thereof.

 

(gg)
“Plan” means this 2020 Omnibus Equity Incentive Plan.

 

(hh)
“Related Rights” has the meaning set forth in Section 8.

 

(ii)
“Restricted Share” means a Share granted pursuant to Section 9 below subject to certain restrictions that lapse at
the end of a specified period (or periods) of time and/or upon attainment of specified performance objectives.

 

(jj)
“Restricted Period” has the meaning set forth in Section 9.

 

(kk)
“Restricted Stock Unit” means the right granted pursuant to Section 9 hereof to receive a Share at the end of a specified
restricted period (or periods) of time and/or upon attainment of specified performance objectives.

 

(ll)
“Rule 16b-3” has the meaning set forth in Section 3.

 

(mm)
“Section 16 Officer” means any officer of the Company whom the Board has determined is subject to the reporting requirements
of Section 16 of the Exchange Act, whether or not such individual is a Section 16 Officer at the time the determination to recoup compensation
is made.

 

(nn)
“Shares” means Common Stock reserved for issuance under the Plan, as adjusted pursuant to the Plan, and any successor
(pursuant to a merger, consolidation or other reorganization) security.

 

(oo)
“Share Appreciation Right” means a right granted pursuant to Section 8 hereof to receive an amount equal to the excess,
if any, of (i) the aggregate Fair Market Value, as of the date such Award or portion thereof is surrendered, of the Shares covered by
such Award or such portion thereof, over (ii) the aggregate Exercise Price of such Award or such portion thereof.

 

(pp)
“Subsidiary” means, with respect to any Person, as of any date of determination, any other Person as to which such
first Person owns or otherwise controls, directly or indirectly, more than 50% of the voting shares or other similar interests or a sole
general partner interest or managing member or similar interest of such other Person.

 

(qq)
“Term” has the meaning set forth in Section 3.

 

(rr)
“Transfer” has the meaning set forth in Section 16.

 

    	-5-

     

    

 

Section
3. Administration.

 

(a)
The Plan shall be administered by the Administrator and shall be administered, to the extent applicable, in accordance with Rule 16b-3
under the Exchange Act (“Rule 16b-3”).

 

(b)
Pursuant to the terms of the Plan, the Administrator, subject, in the case of any Committee, to any restrictions on the authority delegated
to it by the Board, shall have the power and authority, without limitation:

 

(1)
to select those Eligible Recipients who shall be Participants;

 

(2)
to determine whether and to what extent Options, Share Appreciation Rights, Restricted Shares, Restricted Stock Units, Cash Awards, Other
Share-Based Awards or a combination of any of the foregoing, are to be granted hereunder to Participants;

 

(3)
to determine the number of Shares to be covered by each Award granted hereunder;

 

(4)
to determine the terms and conditions, not inconsistent with the terms of the Plan, of each Award granted hereunder (including, but not
limited to, (i) the restrictions applicable to Restricted Shares or Restricted Stock Units and the conditions under which restrictions
applicable to such Restricted Shares or Restricted Stock Units shall lapse, (ii) the performance goals and periods applicable to Awards,
(iii) the Exercise Price of each Option and each Share Appreciation Right or the purchase price of any other Award, (iv) the vesting
schedule and terms applicable to each Award, (v) the number of Shares or amount of cash or other property subject to each Award and (vi)
subject to the requirements of Section 409A of the Code (to the extent applicable), any amendments to the terms and conditions of outstanding
Awards, including, but not limited to, extending the exercise period of such Awards and accelerating the vesting and/or payment schedules
of such Awards);

 

(5)
to determine the terms and conditions, not inconsistent with the terms of the Plan, which shall govern all written instruments evidencing
Awards;

 

(6)
to determine the Fair Market Value in accordance with the terms of the Plan;

 

(7)
to determine the duration and purpose of leaves of absence which may be granted to a Participant without constituting termination of
the Participant’s service or employment for purposes of Awards granted under the Plan;

 

(8)
to adopt, alter and repeal such administrative rules, regulations, guidelines and practices governing the Plan as it shall from time
to time deem advisable;

 

(9)
to construe and interpret the terms and provisions of, and supply or correct omissions in, the Plan and any Award issued under the Plan
(and any Award Agreement relating thereto), and to otherwise supervise the administration of the Plan and to exercise all powers and
authorities either specifically granted under the Plan or necessary and advisable in the administration of the Plan; and

 

(10)
to prescribe, amend and rescind rules and regulations relating to sub-plans established for the purpose of satisfying applicable non-United
States laws or for qualifying for favorable tax treatment under applicable non-United States laws, which rules and regulations may be
set forth in an appendix or appendixes to the Plan.

 

(c)
Subject to Section 5, neither the Board nor the Committee shall have the authority to reprice or cancel and regrant any Award at a lower
exercise, base or purchase price or cancel any Award with an exercise, base or purchase price in exchange for cash, property or other
Awards without first obtaining the approval of the Company’s shareholders.

 

    	-6-

     

    

 

(d)
All decisions made by the Administrator pursuant to the provisions of the Plan shall be final, conclusive and binding on all Persons,
including the Company and the Participants.

 

(e)
The expenses of administering the Plan shall be borne by the Company and its Affiliates.

 

(f)
If at any time or to any extent the Board shall not administer the Plan, then the functions of the Administrator specified in the Plan
shall be exercised by the Committee. Except as otherwise provided in the Certificate of Incorporation or Bylaws of the Company, any action
of the Committee with respect to the administration of the Plan shall be taken by a majority vote at a meeting at which a quorum is duly
constituted or unanimous written consent of the Committee’s members.

 

Section
4. Shares Reserved for Issuance Under the Plan.

 

(a)
Subject to Section 5 hereof, the number of shares of Common Stock that are reserved and available for issuance pursuant to Awards granted
under the Plan shall be equal to 1,250,000 shares of Common Stock; provided, that, shares of Common Stock issued under
the Plan with respect to an Exempt Award shall not count against such share limit.

 

(b)
Shares issued under the Plan may, in whole or in part, be authorized but unissued Shares or Shares that shall have been or may be reacquired
by the Company in the open market, in private transactions or otherwise. If an Award entitles the Participant to receive or purchase
Shares, the number of Shares covered by such Award or to which such Award relates shall be counted on the date of grant of such Award
against the aggregate number of Shares available for granting Awards under the Plan. If any Shares subject to an Award are forfeited,
cancelled, exchanged or surrendered or if an Award otherwise terminates or expires without a distribution of shares to the Participant,
the Shares with respect to such Award shall, to the extent of any such forfeiture, cancellation, exchange, surrender, termination or
expiration, again be available for granting Awards under the Plan. Notwithstanding the foregoing, Shares surrendered or withheld as payment
of either the Exercise Price of an Award (including Shares otherwise underlying a Share Appreciation Right that are retained by the Company
to account for the Exercise Price of such Share Appreciation Right) and/or withholding taxes in respect of an Award shall no longer be
available for grant under the Plan. In addition, (i) to the extent an Award is denominated in shares of Common Stock, but paid or settled
in cash, the number of shares of Common Stock with respect to which such payment or settlement is made shall again be available for grants
of Awards pursuant to the Plan and (ii) shares of Common Stock underlying Awards that can only be settled in cash shall not be counted
against the aggregate number of shares of Common Stock available for Awards under the Plan. Upon the exercise of any Award granted in
tandem with any other Awards, such related Awards shall be cancelled to the extent of the number of Shares as to which the Award is exercised
and, notwithstanding the foregoing, such number of shares shall no longer be available for grant under the Plan.

 

(c)
No more than 1,250,000 Shares shall be issued pursuant to the exercise of ISOs.

 

(d)
No Participant who is a non-employee director of the Company shall be granted Awards during any calendar year that, when aggregated with
such non-employee director’s cash fees with respect to such calendar year, exceed $300,000 in total value (with Cash Awards or
other cash fees measured for this purpose at their value upon payment and any other Awards measured for this purpose at their grant date
fair value as determined for the Company’s financial reporting purposes).

 

    	-7-

     

    

 

Section
5. Equitable Adjustments.

 

In
the event of any Change in Capitalization, an equitable substitution or proportionate adjustment shall be made in (i) the aggregate number
and kind of securities reserved for issuance under the Plan pursuant to Section 4, (ii) the kind, number of securities subject to, and
the Exercise Price subject to outstanding Options and Share Appreciation Rights granted under the Plan, (iii) the kind, number and purchase
price of Shares or other securities or the amount of cash or amount or type of other property subject to outstanding Restricted Shares,
Restricted Stock Units or Other Share-Based Awards granted under the Plan; and/or (iv) the terms and conditions of any outstanding Awards
(including, without limitation, any applicable performance targets or criteria with respect thereto); provided, however,
that any fractional shares resulting from the adjustment shall be eliminated. Such other equitable substitutions or adjustments shall
be made as may be determined by the Administrator, in its sole discretion. Without limiting the generality of the foregoing, in connection
with a Change in Capitalization, the Administrator may provide, in its sole discretion, but subject in all events to the requirements
of Section 409A of the Code, for the cancellation of any outstanding Award granted hereunder in exchange for payment in cash or other
property having an aggregate Fair Market Value equal to the Fair Market Value of the Shares, cash or other property covered by such Award,
reduced by the aggregate Exercise Price or purchase price thereof, if any; provided, however, that if the Exercise Price
or purchase price of any outstanding Award is equal to or greater than the Fair Market Value of the shares of Common Stock, cash or other
property covered by such Award, the Administrator may cancel such Award without the payment of any consideration to the Participant.
Further, without limiting the generality of the foregoing, with respect to Awards subject to foreign laws, adjustments made hereunder
shall be made in compliance with applicable requirements. Except to the extent determined by the Administrator, any adjustments to ISOs
under this Section 5 shall be made only to the extent not constituting a “modification” within the meaning of Section 424(h)(3)
of the Code. The Administrator’s determinations pursuant to this Section 5 shall be final, binding and conclusive.

 

Section
6. Eligibility.

 

The
Participants in the Plan shall be selected from time to time by the Administrator, in its sole discretion, from those individuals that
qualify as Eligible Recipients.

 

Section
7. Options.

 

(a)
General. Options granted under the Plan shall be designated as Nonqualified Stock Options or ISOs. Each Participant who is granted
an Option shall enter into an Award Agreement with the Company, containing such terms and conditions as the Administrator shall determine,
in its sole discretion, including, among other things, the Exercise Price of the Option, the term of the Option and provisions regarding
exercisability of the Option, and whether the Option is intended to be an ISO or a Nonqualified Stock Option (and in the event the Award
Agreement has no such designation, the Option shall be a Nonqualified Stock Option). The provisions of each Option need not be the same
with respect to each Participant. More than one Option may be granted to the same Participant and be outstanding concurrently hereunder.
Options granted under the Plan shall be subject to the terms and conditions set forth in this Section 7 and shall contain such additional
terms and conditions, not inconsistent with the terms of the Plan, as the Administrator shall deem desirable and set forth in the applicable
Award Agreement.

 

(b)
Exercise Price. The Exercise Price of Shares purchasable under an Option shall be determined by the Administrator in its sole
discretion at the time of grant, but in no event shall the exercise price of an Option be less than one hundred percent (100%) of the
Fair Market Value of a share of Common Stock on the date of grant.

 

(c)
Option Term. The maximum term of each Option shall be fixed by the Administrator, but no Option shall be exercisable more than
ten (10) years after the date such Option is granted. Each Option’s term is subject to earlier expiration pursuant to the applicable
provisions in the Plan and the Award Agreement. Notwithstanding the foregoing, the Administrator shall have the authority to accelerate
the exercisability of any outstanding Option at such time and under such circumstances as the Administrator, in its sole discretion,
deems appropriate.

 

(d)
Exercisability. Each Option shall be exercisable at such time or times and subject to such terms and conditions, including the
attainment of performance goals, as shall be determined by the Administrator in the applicable Award Agreement. The Administrator may
also provide that any Option shall be exercisable only in installments, and the Administrator may waive such installment exercise provisions
at any time, in whole or in part, based on such factors as the Administrator may determine in its sole discretion.

 

    	-8-

     

    

 

(e)
Method of Exercise. Options may be exercised in whole or in part by giving written notice of exercise to the Company specifying
the number of whole Shares to be purchased, accompanied by payment in full of the aggregate Exercise Price of the Shares so purchased
in cash or its equivalent, as determined by the Administrator. As determined by the Administrator, in its sole discretion, with respect
to any Option or category of Options, payment in whole or in part may also be made (i) by means of consideration received under any cashless
exercise procedure approved by the Administrator (including the withholding of Shares otherwise issuable upon exercise), (ii) in the
form of unrestricted Shares already owned by the Participant which have a Fair Market Value on the date of surrender equal to the aggregate
exercise price of the Shares as to which such Option shall be exercised, (iii) any other form of consideration approved by the Administrator
and permitted by Applicable Laws or (iv) any combination of the foregoing.

 

(f)
ISOs. The terms and conditions of ISOs granted hereunder shall be subject to the provisions of Section 422 of the Code and the
terms, conditions, limitations and administrative procedures established by the Administrator from time to time in accordance with the
Plan. At the discretion of the Administrator, ISOs may be granted only to an employee of the Company, its “parent corporation”
(as such term is defined in Section 424(e) of the Code) or a Subsidiary of the Company.

 

(1)
ISO Grants to 10% Stockholders. Notwithstanding anything to the contrary in the Plan, if an ISO is granted to a Participant who
owns shares representing more than ten percent (10%) of the voting power of all classes of shares of the Company, its “parent corporation”
(as such term is defined in Section 424(e) of the Code) or a Subsidiary of the Company, the term of the ISO shall not exceed five (5)
years from the time of grant of such ISO and the Exercise Price shall be at least one hundred and ten percent (110%) of the Fair Market
Value of the Shares on the date of grant.

 

(2)
$100,000 Per Year Limitation For ISOs. To the extent the aggregate Fair Market Value (determined on the date of grant) of the
Shares for which ISOs are exercisable for the first time by any Participant during any calendar year (under all plans of the Company)
exceeds $100,000, such excess ISOs shall be treated as Nonqualified Stock Options.

 

(3)
Disqualifying Dispositions. Each Participant awarded an ISO under the Plan shall notify the Company in writing immediately after
the date the Participant makes a “disqualifying disposition” of any Share acquired pursuant to the exercise of such ISO.
A “disqualifying disposition” is any disposition (including any sale) of such Shares before the later of (i) two years after
the date of grant of the ISO and (ii) one year after the date the Participant acquired the Shares by exercising the ISO. The Company
may, if determined by the Administrator and in accordance with procedures established by it, retain possession of any Shares acquired
pursuant to the exercise of an ISO as agent for the applicable Participant until the end of the period described in the preceding sentence,
subject to complying with any instructions from such Participant as to the sale of such Shares.

 

(g)
Rights as Stockholder. A Participant shall have no rights to dividends, dividend equivalents or distributions or any other rights
of a stockholder with respect to the Shares subject to an Option until the Participant has given written notice of the exercise thereof,
and has paid in full for such Shares and has satisfied the requirements of Section 15 hereof.

 

(h)
Termination of Employment or Service. Treatment of an Option upon termination of employment of a Participant shall be provided
for by the Administrator in the Award Agreement.

 

(i)
Other Change in Employment or Service Status. An Option shall be affected, both with regard to vesting schedule and termination,
by leaves of absence, including unpaid and un-protected leaves of absence, changes from full-time to part-time employment, partial Disability
or other changes in the employment status or service status of a Participant, in the discretion of the Administrator.

 

    	-9-

     

    

 

Section
8. Share Appreciation Rights.

 

(a)
General. Share Appreciation Rights may be granted either alone (“Free Standing Rights”) or in conjunction with
all or part of any Option granted under the Plan (“Related Rights”). Related Rights may be granted either at or after
the time of the grant of such Option. The Administrator shall determine the Eligible Recipients to whom, and the time or times at which,
grants of Share Appreciation Rights shall be made. Each Participant who is granted a Share Appreciation Right shall enter into an Award
Agreement with the Company, containing such terms and conditions as the Administrator shall determine, in its sole discretion, including,
among other things, the number of Shares to be awarded, the Exercise Price per Share, and all other conditions of Share Appreciation
Rights. Notwithstanding the foregoing, no Related Right may be granted for more Shares than are subject to the Option to which it relates.
The provisions of Share Appreciation Rights need not be the same with respect to each Participant. Share Appreciation Rights granted
under the Plan shall be subject to the following terms and conditions set forth in this Section 8 and shall contain such additional terms
and conditions, not inconsistent with the terms of the Plan, as the Administrator shall deem desirable, as set forth in the applicable
Award Agreement.

 

(b)
Awards; Rights as Stockholder. A Participant shall have no rights to dividends or any other rights of a stockholder with respect
to the shares of Common Stock, if any, subject to a Stock Appreciation Right until the Participant has given written notice of the exercise
thereof and has satisfied the requirements of Section 15 hereof.

 

(c)
Exercise Price. The Exercise Price of Shares purchasable under a Share Appreciation Rights shall be determined by the Administrator
in its sole discretion at the time of grant, but in no event shall the exercise price of a Share Appreciation Rights be less than one
hundred percent (100%) of the Fair Market Value of a share of Common Stock on the date of grant.

 

(d)
Exercisability.

 

(1)
Share Appreciation Rights that are Free Standing Rights shall be exercisable at such time or times and subject to such terms and conditions
as shall be determined by the Administrator in the applicable Award Agreement.

 

(2)
Share Appreciation Rights that are Related Rights shall be exercisable only at such time or times and to the extent that the Options
to which they relate shall be exercisable in accordance with the provisions of Section 7 hereof and this Section 8 of the Plan.

 

(e)
Payment Upon Exercise.

 

(1)
Upon the exercise of a Free Standing Right, the Participant shall be entitled to receive up to, but not more than, that number of Shares
equal in value to the excess of the Fair Market Value as of the date of exercise over the Exercise Price per share specified in the Free
Standing Right multiplied by the number of Shares in respect of which the Free Standing Right is being exercised.

 

(2)
A Related Right may be exercised by a Participant by surrendering the applicable portion of the related Option. Upon such exercise and
surrender, the Participant shall be entitled to receive up to, but not more than, that number of Shares equal in value to the excess
of the Fair Market Value as of the date of exercise over the Exercise Price specified in the related Option multiplied by the number
of Shares in respect of which the Related Right is being exercised. Options which have been so surrendered, in whole or in part, shall
no longer be exercisable to the extent the Related Rights have been so exercised.

 

(3)
Notwithstanding the foregoing, the Administrator may determine to settle the exercise of a Share Appreciation Right in cash (or in any
combination of Shares and cash).

 

(f)
Termination of Employment or Service. Treatment of an Share Appreciation Right upon termination of employment of a Participant
shall be provided for by the Administrator in the Award Agreement.

 

    	-10-

     

    

 

(g)
Term.

 

(1)
The term of each Free Standing Right shall be fixed by the Administrator, but no Free Standing Right shall be exercisable more than ten
(10) years after the date such right is granted.

 

(2)
The term of each Related Right shall be the term of the Option to which it relates, but no Related Right shall be exercisable more than
ten (10) years after the date such right is granted.

 

(h)
Other Change in Employment or Service Status. Share Appreciation Rights shall be affected, both with regard to vesting schedule
and termination, by leaves of absence, including unpaid and un-protected leaves of absence, changes from full-time to part-time employment,
partial Disability or other changes in the employment or service status of a Participant, in the discretion of the Administrator.

 

Section
9. Restricted Shares and Restricted Stock Units.

 

(a)
General. Restricted Shares or Restricted Stock Units may be issued under the Plan. The Administrator shall determine the Eligible
Recipients to whom, and the time or times at which, Restricted Shares or Restricted Stock Units shall be made. Each Participant who is
granted Restricted Shares or Restricted Stock Units shall enter into an Award Agreement with the Company, containing such terms and conditions
as the Administrator shall determine, in its sole discretion, including, among other things, the number of Shares to be awarded; the
price, if any, to be paid by the Participant for the acquisition of Restricted Shares or Restricted Stock Units; the period of time restrictions,
performance goals or other conditions that apply to Transferability, delivery or vesting of such Awards (the “Restricted Period”);
and all other conditions applicable to the Restricted Shares and Restricted Stock Units. If the restrictions, performance goals or conditions
established by the Administrator are not attained, a Participant shall forfeit his or her Restricted Shares or Restricted Stock Units,
in accordance with the terms of the grant. The provisions of the Restricted Shares or Restricted Stock Units need not be the same with
respect to each Participant.

 

(b)
Awards and Certificates. Except as otherwise provided below in Section 9(c), (i) each Participant who is granted an Award of Restricted
Shares may, in the Company’s sole discretion, be issued a share certificate in respect of such Restricted Shares; and (ii) any
such certificate so issued shall be registered in the name of the Participant, and shall bear an appropriate legend referring to the
terms, conditions and restrictions applicable to any such Award. The Company may require that the share certificates, if any, evidencing
Restricted Shares granted hereunder be held in the custody of the Company until the restrictions thereon shall have lapsed, and that,
as a condition of any Award of Restricted Shares, the Participant shall have delivered a share transfer form, endorsed in blank, relating
to the Shares covered by such Award. Certificates for shares of unrestricted Common Stock may, in the Company’s sole discretion,
be delivered to the Participant only after the Restricted Period has expired without forfeiture in such Restricted Stock Award. With
respect to Restricted Stock Units to be settled in Shares, at the expiration of the Restricted Period, share certificates in respect
of the shares of Common Stock underlying such Restricted Stock Units may, in the Company’s sole discretion, be delivered to the
Participant, or his legal representative, in a number equal to the number of shares of Common Stock underlying the Restricted Stock Units
Award. Notwithstanding anything in the Plan to the contrary, any Restricted Shares or Restricted Stock Units to be settled in Shares
(at the expiration of the Restricted Period, and whether before or after any vesting conditions have been satisfied) may, in the Company’s
sole discretion, be issued in uncertificated form. Further, notwithstanding anything in the Plan to the contrary, with respect to Restricted
Stock Units, at the expiration of the Restricted Period, Shares, or cash, as applicable, shall promptly be issued (either in certificated
or uncertificated form) to the Participant, unless otherwise deferred in accordance with procedures established by the Company in accordance
with Section 409A of the Code, and such issuance or payment shall in any event be made within such period as is required to avoid the
imposition of a tax under Section 409A of the Code.

 

    	-11-

     

    

 

(c)
Restrictions and Conditions. The Restricted Shares or Restricted Stock Units granted pursuant to this Section 9 shall be subject
to the following restrictions and conditions and any additional restrictions or conditions as determined by the Administrator at the
time of grant or, subject to Section 409A of the Code where applicable, thereafter:

 

(1)
The Administrator may, in its sole discretion, provide for the lapse of restrictions in installments and may accelerate or waive such
restrictions in whole or in part based on such factors and such circumstances as the Administrator may determine, in its sole discretion,
including, but not limited to, the attainment of certain performance goals, the Participant’s termination of employment or service
with the Company or any Affiliate thereof, or the Participant’s death or Disability. Notwithstanding the foregoing, upon a Change
in Control, the outstanding Awards shall be subject to Section 12 hereof.

 

(2)
Except as provided in the applicable Award Agreement, the Participant shall generally have the rights of a stockholder of the Company
with respect to Restricted Shares during the Restricted Period; provided, however, that dividends declared during the Restricted
Period with respect to an Award, shall only become payable if (and to the extent) the underlying Restricted Shares vest. Except as provided
in the applicable Award Agreement, the Participant shall generally not have the rights of a stockholder with respect to Shares subject
to Restricted Stock Units during the Restricted Period; provided, however, that, subject to Section 409A of the Code, an
amount equal to dividends declared during the Restricted Period with respect to the number of Shares covered by Restricted Stock Units
shall, unless otherwise set forth in an Award Agreement, be paid to the Participant at the time (and to the extent) Shares in respect
of the related Restricted Stock Units are delivered to the Participant. Certificates for Shares of unrestricted Common Stock may, in
the Company’s sole discretion, be delivered to the Participant only after the Restricted Period has expired without forfeiture
in respect of such Restricted Shares or Restricted Stock Units, except as the Administrator, in its sole discretion, shall otherwise
determine.

 

(3)
The rights of Participants granted Restricted Shares or Restricted Stock Units upon termination of employment or service as a director,
independent contractor or consultant to the Company or to any Affiliate thereof terminates for any reason during the Restricted Period
shall be set forth in the Award Agreement.

 

(d)
Form of Settlement. The Administrator reserves the right in its sole discretion to provide (either at or after the grant thereof)
that any Restricted Stock Unit represent the right to receive the amount of cash per unit that is determined by the Administrator in
connection with the Award.

 

Section
10. Other Share-Based Awards.

 

Other
Share-Based Awards may be issued under the Plan. Subject to the provisions of the Plan, the Administrator shall have sole and complete
authority to determine the individuals to whom and the time or times at which such Other Share-Based Awards shall be granted. Each Participant
who is granted an Other Share-Based Award shall enter into an Award Agreement with the Company, containing such terms and conditions
as the Administrator shall determine, in its sole discretion, including, among other things, the number of shares of Common Stock to
be granted pursuant to such Other Share-Based Awards, or the manner in which such Other Share-Based Awards shall be settled (e.g., in
shares of Common Stock, cash or other property), or the conditions to the vesting and/or payment or settlement of such Other Share-Based
Awards (which may include, but not be limited to, achievement of performance criteria) and all other terms and conditions of such Other
Share-Based Awards. In the event that the Administrator grants a bonus in the form of Shares, the Shares constituting such bonus shall,
as determined by the Administrator, be evidenced in uncertificated form or by a book entry record or a certificate issued in the name
of the Participant to whom such grant was made and delivered to such Participant as soon as practicable after the date on which such
bonus is payable. Notwithstanding anything set forth in the Plan to the contrary, any dividend or dividend equivalent Award issued hereunder
shall be subject to the same restrictions, conditions and risks of forfeiture as apply to the underlying Award.

 

Section
11. Cash Awards.

 

The
Administrator may grant Awards that are denominated in, or payable to Participants solely in, cash, as deemed by the Administrator to
be consistent with the purposes of the Plan, and, such Cash Awards shall be subject to the terms, conditions, restrictions and limitations
determined by the Administrator, in its sole discretion, from time to time. Awards granted pursuant to this Section 11 may be granted
with value and payment contingent upon the achievement of performance goals.

 

    	-12-

     

    

 

Section
12. Change in Control.

 

Unless
otherwise determined by the Administrator and evidenced in an Award Agreement, in the event that (a) a Change in Control occurs, and
(b) the Participant’s employment or service is terminated by the Company, its successor or an Affiliate thereof without Cause or
by the Participant for Good Reason (if applicable) on or after the effective date of the Change in Control but prior to twelve (12) months
following the Change in Control, then:

 

(a)
any unvested or unexercisable portion of any Award carrying a right to exercise shall become fully vested and exercisable; and

 

(b)
the restrictions, deferral limitations, payment conditions and forfeiture conditions applicable to an Award granted under the Plan shall
lapse and such Awards shall be deemed fully vested and any performance conditions imposed with respect to such Awards shall be deemed
to be fully achieved at target performance levels.

 

If
the Administrator determines in its discretion pursuant to Section 3(b)(4) hereof to accelerate the vesting of Options and/or Share Appreciation
Rights in connection with a Change in Control, the Administrator shall also have discretion in connection with such action to provide
that all Options and/or Share Appreciation Rights outstanding immediately prior to such Change in Control shall expire on the effective
date of such Change in Control.

 

Section
13. Amendment and Termination.

 

The
Board may amend, alter or terminate the Plan at any time, but no amendment, alteration or termination shall be made that would impair
the rights of a Participant under any Award theretofore granted without such Participant’s consent. The Board shall obtain approval
of the Company’s stockholders for any amendment that would require such approval in order to satisfy the requirements of any rules
of the stock exchange on which the Common Stock is traded or other Applicable Law. The Administrator may amend the terms of any Award
theretofore granted, prospectively or retroactively, but, subject to Section 5 of the Plan and the immediately preceding sentence, no
such amendment shall materially impair the rights of any Participant without his or her consent.

 

Section
14. Unfunded Status of Plan.

 

The
Plan is intended to constitute an “unfunded” plan for incentive compensation. With respect to any payments not yet made to
a Participant by the Company, nothing contained herein shall give any such Participant any rights that are greater than those of a general
creditor of the Company.

 

Section
15. Withholding Taxes.

 

Each
Participant shall, no later than the date as of which the value of an Award first becomes includible in the gross income of such Participant
for purposes of applicable taxes, pay to the Company, or make arrangements satisfactory to the Administrator regarding payment of an
amount up to the maximum statutory tax rates in the Participant’s applicable jurisdiction with respect to the Award, as determined
by the Company. The obligations of the Company under the Plan shall be conditional on the making of such payments or arrangements, and
the Company shall, to the extent permitted by Applicable Laws, have the right to deduct any such taxes from any payment of any kind otherwise
due to such Participant. Whenever cash is to be paid pursuant to an Award, the Company shall have the right to deduct therefrom an amount
sufficient to satisfy any applicable withholding tax requirements related thereto. Whenever Shares or property other than cash are to
be delivered pursuant to an Award, the Company shall have the right to require the Participant to remit to the Company in cash an amount
sufficient to satisfy any related taxes to be withheld and applied to the tax obligations; provided, that, with the approval
of the Administrator, a Participant may satisfy the foregoing requirement by either (i) electing to have the Company withhold from delivery
of Shares or other property, as applicable, or (ii) delivering already owned unrestricted shares of Common Stock, in each case, having
a value not exceeding the applicable taxes to be withheld and applied to the tax obligations. Such already owned and unrestricted shares
of Common Stock shall be valued at their Fair Market Value on the date on which the amount of tax to be withheld is determined and any
fractional share amounts resulting therefrom shall be settled in cash. Such an election may be made with respect to all or any portion
of the Shares to be delivered pursuant to an award. The Company may also use any other method of obtaining the necessary payment or proceeds,
as permitted by Applicable Laws, to satisfy its withholding obligation with respect to any Award.

 

    	-13-

     

    

 

Section
16. Transfer of Awards.

 

Until
such time as the Awards are fully vested and/or exercisable in accordance with the Plan or an Award Agreement, no purported sale, assignment,
mortgage, hypothecation, transfer, charge, pledge, encumbrance, gift, transfer in trust (voting or other) or other disposition of, or
creation of a security interest in or lien on, any Award or any agreement or commitment to do any of the foregoing (each, a “Transfer”)
by any holder thereof in violation of the provisions of the Plan or an Award Agreement will be valid, except with the prior written consent
of the Administrator, which consent may be granted or withheld in the sole discretion of the Administrator. Any purported Transfer of
an Award or any economic benefit or interest therein in violation of the Plan or an Award Agreement shall be null and void ab initio
and shall not create any obligation or liability of the Company, and any Person purportedly acquiring any Award or any economic benefit
or interest therein transferred in violation of the Plan or an Award Agreement shall not be entitled to be recognized as a holder of
such Shares or other property underlying such Award. Unless otherwise determined by the Administrator in accordance with the provisions
of the immediately preceding sentence, an Option or a Share Appreciation Right may be exercised, during the lifetime of the Participant,
only by the Participant or, during any period during which the Participant is under a legal Disability, by the Participant’s guardian
or legal representative.

 

Section
17. Continued Employment or Service.

 

Neither
the adoption of the Plan nor the grant of an Award shall confer upon any Eligible Recipient any right to continued employment or service
with the Company or any Affiliate thereof, as the case may be, nor shall it interfere in any way with the right of the Company or any
Affiliate thereof to terminate the employment or service of any of its Eligible Recipients at any time.

 

Section
18. Effective Date.

 

The
Plan was adopted by the Board on November18, 2021 and shall become effective upon the closing of the initial public offering (the “Effective
Date”).

 

Section
19. Electronic Signature.

 

Participant’s
electronic signature of an Award Agreement shall have the same validity and effect as a signature affixed by hand.

 

Section
20. Term of Plan.

 

No
Award shall be granted pursuant to the Plan on or after the tenth anniversary of the Effective Date, but Awards theretofore granted may
extend beyond that date.

 

Section
21. Securities Matters and Regulations.

 

(a)
Notwithstanding anything herein to the contrary, the obligation of the Company to sell or deliver Shares with respect to any Award granted
under the Plan shall be subject to all Applicable Laws, rules and regulations, including all applicable federal and state securities
laws, and the obtaining of all such approvals by governmental agencies as may be deemed necessary or appropriate by the Administrator.
The Administrator may require, as a condition of the issuance and delivery of certificates evidencing shares of Common Stock pursuant
to the terms hereof, that the recipient of such shares make such agreements and representations, and that such certificates bear such
legends, as the Administrator, in its sole discretion, deems necessary or advisable.

 

    	-14-

     

    

 

(b)
Each Award is subject to the requirement that, if at any time the Administrator determines that the listing, registration or qualification
of Shares is required by any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory
body is necessary or desirable as a condition of, or in connection with, the grant of an Award or the issuance of Shares, no such Award
shall be granted or payment made or Shares issued, in whole or in part, unless listing, registration, qualification, consent or approval
has been effected or obtained free of any conditions not acceptable to the Administrator.

 

(c)
In the event that the disposition of Shares acquired pursuant to the Plan is not covered by a then current registration statement under
the Securities Act and is not otherwise exempt from such registration, such Shares shall be restricted against transfer to the extent
required by the Securities Act or regulations thereunder, and the Administrator may require a Participant receiving Common Stock pursuant
to the Plan, as a condition precedent to receipt of such Common Stock, to represent to the Company in writing that the Common Stock acquired
by such Participant is acquired for investment only and not with a view to distribution.

 

Section
22. Section 409A of the Code.

 

The
Plan as well as payments and benefits under the Plan are intended to be exempt from, or to the extent subject thereto, to comply with
Section 409A of the Code, and, accordingly, to the maximum extent permitted, the Plan shall be interpreted in accordance therewith. Notwithstanding
anything contained herein to the contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section
409A of the Code, the Participant shall not be considered to have terminated employment or service with the Company for purposes of the
Plan and no payment shall be due to the Participant under the Plan or any Award until the Participant would be considered to have incurred
a “separation from service” from the Company and its Affiliates within the meaning of Section 409A of the Code. Any payments
described in the Plan that are due within the “short term deferral period” as defined in Section 409A of the Code shall not
be treated as deferred compensation unless Applicable Law requires otherwise. Notwithstanding anything to the contrary in the Plan, to
the extent that any Awards (or any other amounts payable under any plan, program or arrangement of the Company or any of its Affiliates)
are payable upon a separation from service and such payment would result in the imposition of any individual tax and penalty interest
charges imposed under Section 409A of the Code, the settlement and payment of such awards (or other amounts) shall instead be made on
the first business day after the date that is six (6) months following such separation from service (or death, if earlier). Each amount
to be paid or benefit to be provided under this Plan shall be construed as a separate identified payment for purposes of Section 409A
of the Code. The Company makes no representation that any or all of the payments or benefits described in this Plan will be exempt from
or comply with Section 409A of the Code and makes no undertaking to preclude Section 409A of the Code from applying to any such payment.
The Participant shall be solely responsible for the payment of any taxes and penalties incurred under Section 409A.

 

Section
23. Notification of Election Under Section 83(b) of
the Code.

 

If
any Participant shall, in connection with the acquisition of shares of Common Stock under the Plan, make the election permitted under
Section 83(b) of the Code, such Participant shall notify the Company of such election within ten (10) days after filing notice of the
election with the Internal Revenue Service.

 

Section
24. No Fractional Shares.

 

No
fractional shares of Common Stock shall be issued or delivered pursuant to the Plan. The Administrator shall determine whether cash,
other Awards, or other property shall be issued or paid in lieu of such fractional shares or whether such fractional shares or any rights
thereto shall be forfeited or otherwise eliminated.

 

    	-15-

     

    

 

Section
25. Beneficiary.

 

A
Participant may file with the Administrator a written designation of a beneficiary on such form as may be prescribed by the Administrator
and may, from time to time, amend or revoke such designation. If no designated beneficiary survives the Participant, the executor or
administrator of the Participant’s estate shall be deemed to be the Participant’s beneficiary.

 

Section
26. Paperless Administration.

 

In
the event that the Company establishes, for itself or using the services of a third party, an automated system for the documentation,
granting or exercise of Awards, such as a system using an internet website or interactive voice response, then the paperless documentation,
granting or exercise of Awards by a Participant may be permitted through the use of such an automated system.

 

Section
27. Severability.

 

If
any provision of the Plan is held to be invalid or unenforceable, the other provisions of the Plan shall not be affected but shall be
applied as if the invalid or unenforceable provision had not been included in the Plan.

 

Section
28. Clawback.

 

(a)
If the Company is required to prepare a financial restatement due to the material non-compliance of the Company with any financial reporting
requirement, then the Committee may require any Section 16 Officer to repay or forfeit to the Company, and each Section 16 Officer agrees
to so repay or forfeit, that part of the Incentive Compensation received by that Section 16 Officer during the three-year period preceding
the publication of the restated financial statement that the Committee determines was in excess of the amount that such Section 16 Officer
would have received had such Incentive Compensation been calculated based on the financial results reported in the restated financial
statement. The Committee may take into account any factors it deems reasonable in determining whether to seek recoupment of previously
paid Incentive Compensation and how much Incentive Compensation to recoup from each Section 16 Officer (which need not be the same amount
or proportion for each Section 16 Officer), including any determination by the Committee that a Section 16 Officer engaged in fraud,
willful misconduct or committed grossly negligent acts or omissions which materially contributed to the events that led to the financial
restatement. The amount and form of the Incentive Compensation to be recouped shall be determined by the Committee in its sole and absolute
discretion, and recoupment of Incentive Compensation may be made, in the Committee’s sole and absolute discretion, through the
cancellation of vested or unvested Awards, cash repayment or both.

 

(b)
Notwithstanding any other provisions in this Plan, any Award which is subject to recovery under any Applicable Laws, government regulation
or stock exchange listing requirement, will be subject to such deductions and clawback as may be required to be made pursuant to such
Applicable Law, government regulation or stock exchange listing requirement (or any policy adopted by the Company pursuant to any such
law, government regulation or stock exchange listing requirement).

 

Section
29. Governing Law.

 

The
Plan shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to principles of
conflicts of law of such state.

 

    	-16-

     

    

 

Section
30. Indemnification.

 

To
the extent allowable pursuant to applicable law, each member of the Board and the Administrator and any officer or other employee to
whom authority to administer any component of the Plan is delegated shall be indemnified and held harmless by the Company from any loss,
cost, liability, or expense that may be imposed upon or reasonably incurred by such member in connection with or resulting from any claim,
action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action or failure
to act pursuant to the Plan and against and from any and all amounts paid by him or her in satisfaction of judgment in such action, suit,
or proceeding against him or her; provided, however, that he or she gives the Company an opportunity, at its own expense, to handle and
defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification
shall not be exclusive of any other rights of indemnification to which such individuals may be entitled pursuant to the Company’s
Certificate of Incorporation or Bylaws, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or
hold them harmless.

 

Section
31. Titles and Headings, References to Sections of the
Code or Exchange Act.

 

The
titles and headings of the sections in the Plan are for convenience of reference only and, in the event of any conflict, the text of
the Plan, rather than such titles or headings, shall control. References to sections of the Code or the Exchange Act shall include any
amendment or successor thereto.

 

Section
32. Successors.

 

The
obligations of the Company under the Plan shall be binding upon any successor corporation or organization resulting from the merger,
consolidation or other reorganization of the Company, or upon any successor corporation or organization succeeding to substantially all
of the assets and business of the Company.

 

Section
33. Relationship to other Benefits.

 

No
payment pursuant to the Plan shall be taken into account in determining any benefits under any pension, retirement, savings, profit sharing,
group insurance, welfare, or other benefit plan of the Company or any Affiliate except to the extent otherwise expressly provided in
writing in such other plan or an agreement thereunder.

 

    	-17-Exhibit
10.10

 

EMPLOYMENT
AGREEMENT

 

This
Employment Agreement (this “Agreement”), dated December 16, 2021, is by and among Sidus Space, Inc., a Delaware corporation
(the “Company”), and Carol Craig (the “Executive”).

 

WHEREAS,
the Company desires to continue to employ Executive, and Executive desires to continue to be employed by, the Company, in each case effective
as of the date of an initial public offering of the Company (the “Effective Date”);

 

WHEREAS,
in connection with the foregoing, Executive shall be required to perform Executive’s duties and obligations hereunder on behalf
of the Company, as appropriate, and such duties and obligations shall be enforceable by the Company;

 

WHEREAS,
this Agreement supersedes any and all prior employment agreements or similar agreements by and between Executive and the Company;

 

NOW,
THEREFORE, in consideration of such employment and the mutual covenants and promises herein contained, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Executive agree that the above recitals
are hereby incorporated by reference into this Agreement and are binding upon the parties hereto and agree as follows:

 

1. Employment.
The Company hereby agrees to employ Executive, and Executive hereby agrees to be employed with the Company, upon the terms and conditions
contained in this Agreement. Unless earlier terminated by either party in accordance with Section 5, Executive’s employment
with the Company shall continue for an initial term commencing on the Effective Date and continuing until the third (3rd) anniversary
of the Effective Date (the “Initial Term”) and thereafter shall automatically renew for successive one year terms
(each a “Renewal Term”) unless either party provides written notice of non-renewal to the other party at least sixty
(60) days prior to the last day of the then-current term (such Initial Term and subsequent Renewal Term(s) or portions thereof occurring
prior to termination, collectively the “Employment Period”).

 

2. Duties.

 

2.1 During
the Employment Period, Executive shall serve the Company on a full-time basis and perform services in a capacity and in a manner consistent
with Executive’s position for the Company. Executive shall have the title of Founder and Chief Executive Officer of the Company
and shall have such duties, authorities and responsibilities as are consistent with such position, as the Board of Directors of the Company
(the “Company Board”) may designate from time to time. Executive will report directly to the Company Board. During
the Employment Period, the Company Board shall recommend to its shareholders that Executive be elected as a member of the Company Board
and, if so elected, Executive shall serve for no additional consideration as a member of the Company Board. Notwithstanding the foregoing,
Executive may (i) serve as a director officer and/or advisor of five (5) for-profit company without the prior approval of the Company
Board; (ii) perform and participate in charitable, civic, educational, professional, community and industry affairs and other related
activities; and (iii) manage Executive’s personal investments, provided, however, that such activities do not materially interfere,
individually or in the aggregate with the performance of Executive’s duties hereunder. Further notwithstanding the foregoing, nothing
contained in this Agreement shall be construed to prevent Executive from being employed by or providing services to Craig Technical Consulting,
Inc., a Delaware corporation.

 

    	-1-

     

    

 

3. Location
Of Employment. Executive shall work remotely until such time as Executive and the Company mutually agree that Executive will
work from the Company offices.

 

4. Compensation.

 

4.1 Base
Salary. In consideration of all services rendered by Executive under this Agreement, the Company shall pay Executive a base salary
(the “Base Salary”) at an annual rate of $125,000 during the Employment Period. The Base Salary shall be paid in such
installments and at such times as the Company pays its regularly salaried employees, but no less often than once per month.

 

4.2 Annual
Discretionary Bonus. During each fiscal year of the Executive’s employment with the Company (commencing with the 2021 fiscal
year), Executive will be eligible to receive an annual discretionary bonus (“Cash Bonus”). Executive’s target Cash
Bonus shall be equal to 100% of Base Salary (the “Target Bonus”). The Cash Bonus amount will be based upon achievement
of Company and individual performance targets established by the Company Board, in its sole and absolute discretion, for the fiscal year
to which the bonus relates. The payment of any Cash Bonus described herein will be made at the same time annual bonuses are generally
paid to other senior executives of the Company (generally the first regular payroll date following the Company Board’s certification
of achievement of applicable performance targets). If Executive is eligible to receive a Cash Bonus, such bonus will not be deemed to
be fully “earned” unless Executive is (i) employed by the Company and in good standing on the last day of the fiscal year
to which the Cash Bonus relates, and (ii) has not given notice of Executive’s intention to resign Executive’s employment
as of, or prior to, the date the Company pays the applicable Cash Bonus. The Cash Bonus shall be paid to Executive no later than March
15th of the year following the year for which the bonus is payable.

 

4.3 Vacation.
During the Employment Period, Executive shall be entitled to vacation benefits consistent with Company policy, as may be in effect from
time to time, except to the extent such policy is inconsistent with this Agreement.

 

4.4 Benefits.
During the Employment Period, Executive shall be entitled to participate in any benefit plans offered by the Company as in effect from
time to time (collectively, “Benefit Plans”) on the same basis as those generally made available to other senior employees
of the Company, to the extent Executive may be eligible to do so under the terms of any such Benefit Plan. Executive acknowledges and
agrees that any such Benefit Plans may be terminated or amended from time to time by the Company in its sole discretion. During the Employment
Period, the Company shall provide Executive with (i) life insurance coverage (equal to at least two (2) times Executive’s Base
Salary), and (ii) disability insurance coverage. The Company will cover Executive under directors’ and officers’ liability
insurance, with Executive as a named insured, during Executive’s employment (and for a period of six (6) years following the termination
thereof), to the same general extent as other executive officers of the Company.

 

    	-2-

     

    

 

5. Termination.
Executive’s employment hereunder may be terminated as follows:

 

5.1 Automatically
in the event of the death of Executive;

 

5.2 At
the option of the Company, by written notice to Executive or Executive’s personal representative in the event of the Disability
of Executive. As used herein, the term “Disability” shall mean a determination by an independent competent medical authority
(mutually agreed upon by Executive and the Company) that Executive is unable to perform Executive’s duties under this Agreement
with or without reasonable accommodation, for a period of 120 consecutive days or 180 days in any 365 day period. If there is a question
as to the existence of Executive’s Disability as to which Executive and the Company cannot agree, same shall be determined in writing
by a qualified independent medical authority mutually acceptable to Executive and the Company. If the parties hereto cannot agree as
to a qualified independent physician, each of the Executive, on the one hand, and the Company, on the other, shall appoint such a physician
and those two physicians shall select a third who shall make such determination in writing. The determination of Disability made in writing
to the Company and Executive shall be final and conclusive for all purposes of this Agreement. Executive shall fully cooperate
in connection with the determination of whether Disability exists.

 

5.3 At
the option of the Company for Cause (as defined in Section 6.6), on prior written notice to Executive (subject to any cure period
described in Section 6.6);

 

5.4 At
the option of the Company without Cause, on thirty (30) days’ prior written notice to Executive;

 

5.5 At
the option of Executive (a) for Good Reason (in accordance with the definition in Section 6.5) or (b) for any or no reason other
than Good Reason on thirty (30) days’ prior written notice to the Company (which the Company may, in its sole discretion, make
effective as a resignation earlier than the termination date provided in such notice and further provided that if Executive unilaterally
resigns Executive’s employment before the end of such requisite notice period then such resignation shall be treated for purposes
of this Agreement as a termination under Section 5.4); or

 

5.6 As
of the last day of the Initial Term or the then-current Renewal Term if either Executive or the Company elects not to renew the Agreement
in accordance with and subject to the notice provisions set forth in Section 1.

 

    	-3-

     

    

 

6. Severance
Payments.

 

6.1 Non-Renewal
by the Company, Termination by the Company Without Cause or Termination by Executive for Good Reason. If Executive’s employment
is terminated by the Company without Cause (and not due to death or Disability), by Executive for Good Reason or as
the result of the Company’s decision not to renew the Agreement in accordance with Section 1, subject to Section
6.7 hereof, Executive shall be entitled to:

 

(a) within
thirty (30) days following such termination, payment of Executive’s accrued and unpaid Base Salary and reimbursement of expenses
under Section 7 hereof in each case accrued through the date of termination;

 

(b) subject
to Section 13.7(b) hereof, an amount in cash equal to the product of five (5) times the sum of (i) Executive’s Base Salary
and (ii) Executive’s Target Bonus (in each case, as in effect as of Executive’s last day of employment), which shall be payable
in substantially equal installments (the “Severance Amount”) at the same time Base Salary would be paid over the eighteen
(18) month period (the “Severance Period”) following termination; provided, however, if the Executive’s
review and revocation period for the release of claims required pursuant to Section 6.7 hereof spans two of Executive’s
taxable years, the first payment shall be made on the first regularly scheduled payroll date of the later taxable year following the
effective date of such release of claims and shall include all amounts accrued prior thereto;

 

(c) if
Executive is eligible for and elects to enroll in “COBRA” type continuation coverage of Executive’s health benefits
under the Company’s group health plan, for the Severance Period (“COBRA Payment Period”) the Company will pay
Executive on a monthly basis a taxable amount equal to the full monthly premium for the corresponding active employee coverage type (e.g.,
single, single plus one, family) under the Company’s group health plan that was in effect for Executive on the termination date,
less applicable taxes and withholdings; provided, that the Company’s obligation to make these monthly taxable COBRA premium payments
to Executive hereunder shall cease on the earlier of: (i) the date on which Executive first becomes eligible for coverage under any group
health plan made available by another employer (and Executive shall notify the Company in writing promptly, but within 10 days, after
becoming eligible for any such benefits); and (ii) the date on which Executive’s COBRA continuation coverage under the Company’s
group health plan ends on account of Executive’s election to terminate such coverage; notwithstanding the foregoing, if the Company
determines, in its sole discretion, that the payment of the COBRA premiums would result in a violation of the nondiscrimination rules
of Section 105(h)(2) of the Internal Revenue Code of 1986, as amended (the “Code”) or any statute or regulation of
similar effect (including but not limited to the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care
and Education Reconciliation Act), then in lieu of providing the COBRA premiums; the Company, in its sole discretion, may elect to instead
pay Executive on the first day of each month of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premiums for
that month, subject to applicable tax withholdings (such amount, the “Special Severance Payment”), for the remainder
of the COBRA Payment Period (Executive may, but is not obligated to, use such Special Severance Payment toward the cost of COBRA premiums);
notwithstanding the foregoing, if for any reason Executive is ineligible for, or does not elect to enroll in “COBRA” type
continuation coverage of Executive’s health benefits under the Company’s group health plan, the Company will pay Executive
a lump sum equal to the aggregate payments the Company would have paid Executive on a monthly basis pursuant to the above provisions;

 

    	-4-

     

    

 

(d) a
lump sum payment equal to the amount of any Cash Bonus earned with respect to a fiscal year ending prior to the date of such termination
but unpaid as of such date, payable at the same time in the year of termination as such payment would be made if Executive continued
to be employed by the Company, but in no event later than 73 days following the end of the fiscal
year in which the termination occurs;

 

(e) a
lump sum payment equal to the amount of Cash Bonus that was accrued for the year in which Executive’s employment ends based upon
the good faith determination of the Company Board in accordance with the Company’s normal practices as of the last day of the calendar
month during which Executive’s termination became effective (it being understood that the Company will accrue the Cash Bonus on
a monthly basis), payable no later than 73 days after the termination date;

 

(f) all
other accrued or vested amounts or benefits due to Executive in accordance with this Agreement, the Company’s benefit plans, programs
or policies (other than severance), and the treatment of Executive’s Award in accordance with the Award Agreement; and

 

(g) subject
to Executive’s compliance with the restrictive covenants set forth in Section 8 hereof, the outstanding and unvested portion of
any time-vesting equity award granted to Executive by the Company shall automatically accelerate and vest in full upon Executive’s
termination date.

 

6.2 Termination
due to Executive’s Death or Disability. Upon the termination of Executive’s employment due to Executive’s death
or Disability pursuant to Section 5.1 and Section 5.2 respectively, Executive
or Executive’s legal representatives shall be entitled to receive (i) the acceleration and vesting in full of any then outstanding
and unvested portion of any time-vesting equity award granted to Executive by the Company; and (ii) the payments and benefits described
under Sections 6.1(a), (d), (e) and (f).

 

6.3 Termination
due to Non-Renewal by Executive or Termination by Executive without Good Reason. Upon the termination of Executive’s employment
due to the non-renewal by Executive or termination by Executive without Good Reason, Executive shall be entitled to receive only the
payments and benefits described in Sections 6.1(a), (d), and (f), and the treatment of Executive’s Award in accordance with
the Award Agreement.

 

6.4 Termination
by the Company for Cause. Upon the termination of Executive’s employment by the Company for Cause pursuant to Section 5.3,
Executive shall be entitled to receive only the payments and benefits described in Sections 6.1(a) and (f), and the treatment
of Executive’s Award in accordance with the Award Agreement.

 

    	-5-

     

    

 

6.5 Termination
Following Change in Control. If Executive’s employment is terminated by the Company without Cause or by Executive for Good
Reason within twelve (12) months following a Change in Control, Executive shall be entitled to receive the following: (i) the acceleration
and vesting in full of any then outstanding and unvested portion of any time-vesting equity award granted to Executive by the Company;
(ii) the benefits described in Section 6.1(b) and (c), provided, however, that the Severance Amount shall equal 10 times
the sum of Base Salary and Target Bonus and the Severance Period shall be 24 months; and (iii) the benefits described in Section 6.1(a),
(d), (e) and (f).

 

6.6 Definitions.

 

(a) Cause.
For purposes of this Agreement, “Cause” shall mean:

 

(i) Executive’s
continued failure or refusal to follow the lawful directives of the Company Board after being given written notice and thirty (30) days
to remedy such failures or refusals;

 

(ii) Executive’s
willful misconduct, gross negligence, act of material dishonesty in connection with Executive’s employment;

 

(iii) Executive’s
indictment for, or a plea of guilty or no contest to, any felony or any other criminal offence involving serious moral turpitude;

 

(iv) Executive’s
violation of any material written policies of the Company or its affiliates of which Executive has received written notice and which
violation is, in each case, if curable, is not cured within thirty (30) days of written notice from the Company;

 

(v) Executive’s
breach of any non-solicitation or non-competition obligations to the Company or its affiliates, including, without limitation, those
set forth in Sections 8.1 and 8.2 of this Agreement or Executive’s willful, grossly negligent, or reckless breach
of any confidentiality obligations to the Company or its affiliates, including, without limitation, those set forth in Section 8.3
of this Agreement;

 

(vi) material
breach by Executive of any of the provisions of this Agreement or any other agreement between the Company and its affiliates on the one
hand and Executive on the other hand, which (if curable) is not cured within thirty (30) days of written notice; or

 

(vii) as
provided in Section 13.1 hereof.

 

(b) “Change
in Control” shall have the meaning given that term in the Company’s 2021 Omnibus Equity Incentive Plan.

 

(c) “Good
Reason” shall mean, without Executive’s prior written consent, (i) a material diminution in Executive’s title,
authority, duties or responsibilities; (ii) a material reduction in Base Salary; (iii) a material reduction in the target percentage
of the Executive’s Cash Bonus; (iv) the relocation of Executive’s principal place of employment more than fifty (50) miles
from its then current location; or (v) a breach by the Company of any material provision of this Agreement (the parties agreeing that
Section 4.1 is one such material provision). Any Good Reason termination will require thirty (30) days’ advanced written
notice by Executive of the event giving rise to Good Reason within sixty (60) days after Executive first learns of the applicable event,
and will not be effective unless the Company has not cured the Good Reason event within such thirty (30) day notice period. In order
for Executive to resign for Good Reason, Executive must resign from Executive’s employment within sixty (60) days after the failure
of the Company to cure a Good Reason event.

 

    	-6-

     

    

 

(d) “Person”
means any natural person, sole proprietorship, general partnership, limited partnership, limited liability company, joint venture, trust,
unincorporated organization, association, corporation, governmental authority or any other organization, irrespective of whether it is
a legal entity and includes any successor (by merger or otherwise) of such entity.

 

6.7 Conditions
to Payment. All payments and benefits due to Executive under this Section 6, other than the payments due to Executive under
Sections 6.1(a), (d), and (f) or which are otherwise required by law (all other payments under Section 6, “Severance”),
shall only be payable if Executive (or Executive’s beneficiary or estate) delivers to the Company and does not revoke (under the
terms of applicable law) a general release of all claims substantially in the form attached hereto as Exhibit A. Such general
release shall be executed and delivered (and no longer subject to revocation) within fifty-five (55) days following termination. Failure
to timely execute and return such release or revocation thereof shall be a waiver by Executive of Executive’s right to receive
any Severance. In addition, Severance shall be conditioned on Executive’s compliance with Section 8 hereof.

 

7. Reimbursement
of Expenses. The Company shall reimburse Executive for reasonable and necessary expenses actually incurred by Executive directly
in connection with the business and affairs of the Company and the performance of Executive’s duties hereunder, in each case subject
to appropriate substantiation and itemization of such expenses in accordance with the guidelines and limitations established by the Company
from time to time.

 

8. Restrictions
on Activities of Executive.

 

8.1 Non-Competition.
During employment and for the one (1) year period commencing on the date Executive’s employment with the Company pursuant to this
Agreement ends (except in the event Executive’s employment ends due to Executive’s Disability) (the “Restriction
Period”), Executive covenants and agrees that Executive shall not directly or indirectly (whether for compensation or otherwise)
own or hold any interest in, manage, operate, control, consult with, render services for, or in any manner participate in, any Competitive
Business, in each case, either as a general or limited partner, proprietor, shareholder, officer, director, agent, employee, consultant,
trustee, affiliate or otherwise. The Company may opt to extend the Restriction Period for up to an additional one (1) year period, provided
that in such case Company shall also increase the Severance Amount and the Severance Period by one-twelfth (1/12) for each month that
the Restricted Period is lengthened. For clarification, if Executive is not otherwise entitled to a Severance Amount, the Company shall
pay Executive an amount equal to one-twelfth (1/12) of Executive’s Base Salary for each month the Restricted Period is lengthened.
Nothing herein shall prohibit Executive from being a passive owner of not more than one percent (1%) of the outstanding securities of
any publicly traded company engaged in a Competitive Business. For purposes of this Agreement, “Competitive Business”
shall mean the licensing and/or development of (x) the same or substantially similar compounds as those which the Company is then currently
licensing or developing, or (y) compounds which the Company is then currently actively considering licensing and/or developing, by virtue
of management executives having held material discussions with applicable counterparties to license such compounds and material discussions
with members of the Company Board regarding the same during the prior six (6) month period and of which Executive is aware; in each case,
with respect to the same or similar indications for which the Company is then licensing, developing or considering the licensing and/or
development of such compounds.

 

    	-7-

     

    

 

8.2 Non-Solicitation.
Executive covenants and agrees that, except in connection with the performance of Executive’s duties to the Company, during the
Restriction Period, Executive shall not directly or indirectly (i) influence or attempt to influence or solicit any employees or independent
contractors of the Company or any of its affiliates to restrict, reduce, sever or otherwise alter their relationship with the Company
or such affiliates, (ii) hire any employees or independent contractors of the Company or any of its affiliates, (iii) solicit or induce,
or attempt to solicit or induce, any Person that is then a client or customer of the Company, or any of its affiliates to cease being
a client or customer of the Company or any of its affiliates or to divert all or any part of such Person’s business from the Company
or any of its affiliates, or (iv) assist any other Person in any way to do, or attempt to do, anything prohibited by Sections 8.2(i),
(ii), or (iii); provided, however, that the foregoing restrictions shall not include (A) general solicitations of employment
or hiring of persons responding to general solicitations of employment (including general advertising via periodicals, the Internet and
other media) not specifically directed towards employees of the Company or its affiliates, or (B) serving as a third-party reference
for any employee or independent contractor or providing advice to any employees.

 

8.3 Confidentiality.
Executive shall not, during the Employment Period or at any time thereafter directly or indirectly, disclose, reveal, divulge or communicate
to any Person other than authorized officers, directors and employees of the Company or use or otherwise exploit for Executive’s
own benefit or for the benefit of anyone other than the Company, any Confidential Information (as defined below). “Confidential
Information” means any information with respect to the Company or any of its affiliates, including methods of operation, customer
lists, products, prices, fees, costs, technology, formulas, inventions, trade secrets, know-how, software, marketing methods, plans,
personnel, suppliers, competitors, markets or other specialized information or proprietary matters; provided, that, there
shall be no obligation hereunder with respect to, information that (i) is generally available to the public on the Effective Date, (ii)
becomes generally available to the public other than as a result of a disclosure not otherwise permissible hereunder, or (iii) is required
to be disclosed by law, court order or other legal or regulatory process and Executive gives the Company prompt written notice and the
opportunity to seek a protective order. For the avoidance of doubt, Executive understands that pursuant to the federal Defend Trade Secrets
Act of 2016, Executive shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure
of a trade secret that (A) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly,
or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint
or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Nothing contained in this Agreement shall
limit Executive’s ability to communicate with any federal, state or local governmental agency or commission, including to provide
documents or other information, without notice to the Company. Further, nothing in this Agreement shall be deemed to preclude Executive
from testifying truthfully under oath if Executive is required or compelled by law to testify in any judicial action or before any government
authority or agency or from making any other legally-required truthful statements or disclosures.

 

    	-8-

     

    

 

8.4 Assignment
of Inventions.

 

(a) Executive
agrees that during employment with the Company, any and all inventions, discoveries, innovations, writings, domain names, improvements,
trade secrets, designs, drawings, formulas, business processes, secret processes and know-how, whether or not patentable or a copyright
or trademark, which Executive may create, conceive, develop or make, either alone or in conjunction with others and related or in any
way connected with the Company’s strategic plans, products, processes or apparatus or the business (collectively, “Inventions”),
shall be fully and promptly disclosed to the Company and shall be the sole and exclusive property of the Company as against Executive
or any of Executive’s assignees. Regardless of the status of Executive’s employment by the Company, Executive and Executive’s
heirs, assigns and representatives shall promptly assign to the Company any and all right, title and interest in and to such Inventions
made during employment with the Company.

 

(b) Whether
during or after the Employment Period, Executive further agrees to execute and acknowledge all papers and to do, at the Company’s
expense, any and all other things necessary for or incident to the applying for, obtaining and maintaining of such letters patent, copyrights,
trademarks or other intellectual property rights, as the case may be, and to execute, on request, all papers necessary to assign and
transfer such Inventions, copyrights, patents, patent applications and other intellectual property rights to the Company and its successors
and assigns. In the event that the Company is unable, after reasonable efforts and, in any event, after ten (10) business days, to secure
Executive’s signature on a written assignment to the Company, of any application for letters patent, trademark registration or
to any common law or statutory copyright or other property right therein, whether because of Executive’s physical or mental incapacity,
or for any other reason whatsoever, Executive irrevocably designates and appoints the Secretary of the Company as Executive’s attorney-in-fact
to act on Executive’s behalf to execute and file any such applications and to do all lawfully permitted acts to further the prosecution
or issuance of such assignments, letters patent, copyright or trademark.

 

8.5 Return
of Company Property. Within ten (10) days following the date of any termination of Executive’s employment, Executive or Executive’s
personal representative shall return all property of the Company and its affiliates in Executive’s possession, including but not
limited to all Company-owned computer equipment (hardware and software), smart phones, facsimile machines, tablet computers and other
communication devices, credit cards, office keys, security access cards, badges, identification cards and all copies (including drafts)
of any documentation or information (however stored) relating to the business of the Company and its affiliates, its customers and clients
or its prospective customers and clients. Anything to the contrary notwithstanding, Executive shall be entitled to retain (i) personal
papers and other materials of a personal nature, provided that such papers or materials do not include Confidential Information, (ii)
information showing Executive’s compensation or relating to reimbursement of expenses, and (iii) copies of plans, programs and
agreements relating to Executive’s employment, or termination thereof, with the Company which Executive received in Executive’s
capacity as a participant.

 

    	-9-

     

    

 

8.6 Cooperation.
During the Employment Period and for six years thereafter, Executive shall give Executive’s assistance and cooperation, upon reasonable
advance notice, in any litigation matter relating to Executive’s position with the Company and its affiliates, or Executive’s
knowledge as a result thereof as the Company may reasonably request, including Executive’s attendance and truthful testimony where
deemed appropriate by the Company, with respect to any investigation or the Company’s (or an affiliate’s) defense or prosecution
of any existing or future claims or litigations or other proceeding relating to matters in which Executive was involved or had knowledge
by virtue of Executive’s employment with the Company, in all cases on schedules that are
reasonably consistent with Executive’s other permitted activities and commitments. The Company agrees to reimburse Executive
for any costs Executive incurs in connection with complying with this Section, including Executive’s reasonable attorney’s
fees. If Executive’s compliance with this Section requires Executive to expend more than ten (10) hours (any time in excess of
ten (10) hours, “Excess Time”) in any quarter of a calendar year, the Company agrees to compensate Executive for such
Excess Time at an hourly rate that is equal to the prorata rate the Executive earned while under employment with the Company.

 

8.7 Non-Disparagement.
During Executive’s employment with the Company, and at all times thereafter, (i) Executive shall not make either orally or in writing
any derogatory or disparaging statement with regard to the Company, any of its businesses, products, services or practices or any of
its managers, directors, officers, employees or agents, and (ii) the Company shall direct the members of the Company Board and its senior
executives not to make either orally or in writing any derogatory or disparaging statement with regard to the Executive, provided that
nothing in this Section 8.7 shall prevent either party from giving a deposition, responding to any subpoena or other lawful request for
information or documentation made in the course of a legal or administrative proceeding or testifying in court or in any other legal
proceeding.

 

8.8 Survival.
This Section 8 shall survive any termination or expiration of this Agreement or employment of Executive.

 

9. Remedies.
It is specifically understood and agreed that any breach of the provisions of Section 8 of this Agreement is likely to result
in irreparable injury to the Company and that the remedy at law alone will be an inadequate remedy for such breach, and that in addition
to any other remedy it may have in the event of a breach or threatened breach of Section 8 above, the Company shall be entitled
to enforce the specific performance of this Agreement by Executive and to seek both temporary and permanent injunctive relief (to the
extent permitted by law) without bond and without liability should such relief be denied, modified or violated.

 

10. Blue
Pencil. Each of the rights enumerated in this Agreement shall be independent of the others and shall be in addition to
and not in lieu of any other rights and remedies available to the Company or any of its direct or indirect subsidiaries at law or in
equity. If any of the provisions of this Agreement or any part of any of them is hereafter construed or adjudicated to be invalid or
unenforceable because of the duration of such provisions or the area or scope covered thereby, Executive agrees that the court making
such determination shall have the power to reduce the duration, scope and/or area of such provisions to the maximum and/or broadest duration,
scope and/or area permissible by law, and in its reduced form said provision shall then be enforceable.

 

    	-10-

     

    

 

11. Severable
Provisions. The provisions of this Agreement are severable and the invalidity of any one or more provisions shall not affect
the validity of any other provision. In the event that a court of competent jurisdiction shall determine that any provision of this Agreement
or the application thereof is unenforceable in whole or in part because of the duration or scope thereof, the parties hereto agree that
said court in making such determination shall have the power to reduce the duration and scope of such provision to the extent necessary
to make it enforceable, and that the Agreement in its reduced form shall be valid and enforceable to the full extent permitted by law.

 

12. Notices.
All notices hereunder, to be effective, shall be in writing and shall be deemed effective when delivered by hand or mailed by (a) certified
mail, postage and fees prepaid, or (b) nationally recognized overnight express mail service, as follows:

 

If
to the Company:

 

Sidus
Space, Inc.

150
N. Sykes Creek Parkway, Suite 200

Merritt
Island, FL 32953

Attention:
Human Resources

 

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

 

Sheppard,
Mullin, Richter & Hampton LLP

30
Rockefeller Plaza

New
York, New York 10112

Attention:
Jeffrey Fessler, Esq.

Facsimile:
917.438.6133

Telephone:
212.634.3067

E-mail:
jfessler@sheppardmullin.com

 

If
to Executive:

 

The
last address shown on records of the Company

 

or
to such other address as a party may notify the other pursuant to a notice given in accordance with this Section 12.

 

13. Miscellaneous.

 

13.1 Executive
Representation. Executive hereby represents to the Company that Executive’s execution and delivery of this Agreement and Executive’s
performance of Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, or be prevented, interfered
with or hindered by, the terms of any employment agreement or other agreement or policy to which Executive is a party or otherwise bound,
and further that Executive is not subject to any limitation on Executive’s activities on behalf of the Company as a result of agreements
into which Executive has entered except for obligations of confidentiality with former employers. To the extent this representation and
warranty is not true and accurate, it shall be treated as a Cause event and the Company may terminate Executive for Cause or not permit
Executive to commence employment.

 

    	-11-

     

    

 

13.2 No
Mitigation or Offset. In the event of any termination of Executive’s employment hereunder, Executive shall be under no obligation
to seek other employment or otherwise mitigate the obligations of the Company under this Agreement, and there shall be no offset against
amounts due Executive under this Agreement on account of future earnings by Executive.

 

13.3 Entire
Agreement; Amendment. Except as otherwise expressly provided herein, this Agreement constitutes the entire agreement between the
parties hereto with regard to the subject matter hereof, superseding all prior understandings and agreements, whether written or oral.
This Agreement may not be amended or revised except by a writing signed by the parties.

 

13.4 Assignment
and Transfer. The provisions of this Agreement shall be binding on and shall inure to the benefit of the Company and any successor
in interest to the Company who acquires all or substantially all of the Company’s assets. The Company may assign this Agreement
to an affiliate. Neither this Agreement nor any of the rights, duties or obligations of Executive shall be assignable by Executive, nor
shall any of the payments required or permitted to be made to Executive by this Agreement be encumbered, transferred or in any way anticipated,
except as required by applicable law. All rights of Executive under this Agreement shall inure to the benefit of and be enforceable by
Executive’s personal or legal representatives, estates, executors, administrators, heirs and beneficiaries.

 

13.5 Waiver
of Breach. A waiver by either party of any breach of any provision of this Agreement by the other party shall not operate or be construed
as a waiver of any other or subsequent breach by the other party.

 

13.6 Withholding.
The Company shall be entitled to withhold from any amounts to be paid or benefits provided to Executive hereunder any federal, state,
local or foreign withholding, FICA and FUTA contributions, or other taxes, charges or deductions which it is from time to time required
to withhold.

 

13.7 Code
Section 409A.

 

(a) The
parties agree that this Agreement shall be interpreted to comply with or be exempt from Section 409A of the Code and the regulations
and guidance promulgated thereunder to the extent applicable (collectively “Code Section 409A”), and all provisions
of this Agreement shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Code Section
409A. In no event whatsoever will the Company be liable for any additional tax, interest or penalties that may be imposed on Executive
under Code Section 409A or any damages for failing to comply with Code Section 409A.

 

    	-12-

     

    

 

(b) A
termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment
of any amounts or benefits considered “nonqualified deferred compensation” under Code Section 409A upon or following a termination
of employment unless such termination is also a “separation from service” within the meaning of Code Section 409A and, for
purposes of any such provision of this Agreement, references to a “termination,” “termination of employment”
or like terms shall mean “separation from service.” If Executive is deemed on the date of termination to be a “specified
employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of
any benefit that is considered nonqualified deferred compensation under Code Section 409A payable on account of a “separation from
service,” such payment or benefit shall be made or provided at the date which is the earlier of (i) the expiration of the six (6)-month
period measured from the date of such “separation from service” of Executive, and (ii) the date of Executive’s death
(the “Delay Period”). Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this
Section 13.7(b) (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay)
shall be paid or reimbursed on the first business day following the expiration of the Delay Period to Executive in a lump sum, and any
remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified
for them herein.

 

(c) With
regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Code
Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit,
(ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses
eligible for reimbursement, or in-kind benefits, to be provided in any other taxable year, provided, that, this clause (ii) shall
not be violated with regard to expenses reimbursed under any arrangement covered by Internal Revenue Code Section 105(b) solely because
such expenses are subject to a limit related to the period the arrangement is in effect and (iii) such payments shall be made on or before
the last day of Executive’s taxable year following the taxable year in which the expense occurred.

 

(d) For
purposes of Code Section 409A, Executive’s right to receive any installment payments pursuant to this Agreement shall be treated
as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period
with reference to a number of days (e.g., “payment shall be made within thirty (30) days following the date of termination”),
the actual date of payment within the specified period shall be within the sole discretion of the Company.

 

13.8 Arbitration.
If any contest or dispute arises between the parties with respect to this Agreement or Executive’s employment or termination thereof,
other than injunctive and equitable relief with regard to Section 9 hereof, such contest or dispute shall be submitted to binding
arbitration to occur in San Francisco, California before a single arbitrator in accordance with the rules and procedures of the Employment
Dispute Resolution Rules of the American Arbitration Association (“AAA”) then in effect. The decision of the arbitrator
shall be final and binding on the parties and may be entered in any court of applicable jurisdiction. The parties shall bear their own
legal fees in any arbitration.

 

13.9 Indemnification.
On December 16, 2021, Executive and the Company entered into an indemnification agreement (the “Indemnification Agreement”)
substantially in the form attached hereto as Exhibit B. The Company shall to the maximum extent permitted by applicable law indemnify
and hold harmless Executive as provided in the Indemnification Agreement.

 

13.10 Governing
Law. This Agreement shall be construed under and enforced in accordance with the laws of the State of Delaware, without regard to
the conflicts of law provisions thereof.

 

13.11 Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and shall have the same effect
as if the signatures hereto and thereto were on the same instrument.

 

[remainder
of page intentionally left blank]

 

    	-13-

     

    

 

IN
WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first above written.

 

	 	SIDUS
    SPACE, INC.
	 	 	 
	 	By:	/s/
    Carol Craig
	 	Name:	Carol
    M Craig
	 	Title:	CEO
	 	 
	 	EXECUTIVE
	 	 	 
	 	 	/s/
    Carol Craig
	 		Carol
    Craig 

 

    	-14-

     

    

 

Exhibit
A

 

GENERAL
RELEASE OF CLAIMS

 

GENERAL
RELEASE and WAIVER (this “Agreement”) made as of ____, by and between Carol Craig (the “Employee”)
and Sidus Space, Inc. (the “Employer,” together with the Employee, the “Parties”).

 

WHEREAS,
Employee and the Employer have agreed that Employee’s employment with the Company has been terminated;

 

WHEREAS,
Employee and the Employer have previously entered into an Employment Agreement dated ___, 2021, as may have been amended or supplemented
from time to time (the “Employment Agreement”), with any terms used, but not defined herein, having the meaning set
forth in the Employment Agreement; and

 

WHEREAS,
the Parties desire to enter into this Agreement, in satisfaction of all obligations of the Employee and the Employer in respect of Employee’s
employment with the Employer.

 

NOW,
THEREFORE, in consideration of the mutual covenants set forth herein and for other good and valuable consideration, receipt of which
is hereby acknowledged, the Employer and the Employee agree as follows:

 

1. Separation

 

(a) Date
of Separation. Employee’s employment with the Employer and all of its subsidiaries and affiliates will end on [DATE] (the
“Termination Date”). Employee hereby acknowledges and agrees that Employee has resigned, effective as of the Termination
Date, from any and all positions and titles Employee holds with the Employer and all of its affiliates (together, “Company Entities”).

 

(b) Severance.
In consideration for, subject to and conditioned on Employee’s execution of this Agreement on or within twenty-one (21) days following
the Termination Date, Employee’s non-revocation thereof and compliance with such other conditions as are set forth in the Employment
Agreement, Employee is eligible to receive the Severance in accordance with the terms and conditions set forth in the Employment Agreement.

 

(c) Full
Satisfaction. The Employee acknowledges and agrees that, except for [TO INCLUDE RIGHTS WITH RESPECT TO AWARD IF ANY ARE VESTED
(“Equity Rights”)] the payments and benefits under Sections 6.1(a), (d), (f) and (g) of the Employment Agreement,
or under Section 6.5 of the Employment Agreement in the event that a Termination occurs within twelve (12) months following a Change
in Control, and except for Severance, the Employee is not entitled to any other compensation or benefits from the Company Entities (including
without limitation any severance or termination compensation or benefits under any severance plan, program, policies, practices or arrangements
of any of the Company Entities).

 

    	Exhibit A-1

     

    

 

(d) COBRA.
Pursuant to the applicable group plan terms and conditions, Employee will cease participating in Employer’s health insurance plans
as of the Termination Date. If applicable, the Employer will send the Employee documentation under separate cover relating to the Employee’s
rights pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”).

 

2. General
Release and Waiver

 

(a) Release.

 

i. In
exchange for and in consideration of the promises and covenants set forth in this Agreement and the Employment Agreement, and except
as expressly set forth herein, Employee irrevocably and unconditionally releases and discharges the Company Entities and each of their
subsidiaries, divisions, parents and member companies, institutions, affiliates or related business entities and any and all of their
past and present administrators, officers, partners, members, fiduciaries, trustees, directors, agents, representatives, shareholders,
employees, board members, successors and assigns (hereinafter collectively referred to as “Releasees”), jointly and
individually, from any and all actions, causes of action, grievances, arbitrations, obligations, liabilities, judgments, suits, debts,
attorneys’ fees, costs, sums of money, wages, bonuses, benefits of any type, accounts, reckonings, bonds, bills, specialties, covenants,
contracts, controversies, agreements, promises, variances, trespasses, damages, extents, executions, claims and demands whatsoever in
law, or in equity, which Employee, Employee’s heirs, executors, administrators, successors and assigns, ever had, now have or hereafter
can, shall or may have for, upon or by reason of any matter, cause or thing whatsoever from the beginning of time to the date Employee
signs this Agreement.

 

ii. The
foregoing release covers, without limitation, any claims of discrimination on the basis of pregnancy, race, color, sex, sexual orientation,
disability, handicap, religion, creed, national origin, ancestry, age (including, without limitation, any rights or claims under the
Age Discrimination Employment Act of 1967 or the Older Worker Benefits Protection Act), citizenship, ethnic characteristics, sexual or
affectional preference or marital status and also includes, no matter how denominated or described, any claims of discrimination, retaliation,
harassment or interference under any federal, state or local law, rule, regulation, collective bargaining agreement, or executive order
including, without limitation, any rights or claims under Title VII of the Civil Rights Act of 1964; the Genetic Information Non-Discrimination
Act; the Civil Rights Acts of 1866 and 1991; 42 U.S.C. § 1981; the Equal Pay Act of 1963; the Employee Retirement Income Security
Act of 1974; the Rehabilitation Act of 1973; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; and
all other federal, state and local laws (whether statutory, regulatory or decisional) including, but not limited to, and any claims of
conversion, failure to return property, failure to pay wages, wrongful discharge or termination, interference with contract, breach of
covenant, breach of contract, violation of a collective bargaining agreement, whether written or oral, express or implied, breach of
promise, public policy, negligence, retaliation, defamation, defamation of character, defamation of employment records, impairment of
economic opportunity, loss of business opportunity, fraud, deceit, misrepresentation, whistle-blower activities, perceived disability,
history of disability and payment of wages or benefits of any type, as well as any claims for attorneys’ fees or costs.

 

    	Exhibit A-2

     

    

 

It
is the intention of the Parties in executing this Agreement that it shall be a general release and shall be effective as a bar to each
and every matter released herein and that, should any proceeding be instituted with respect to the matters released herein, this Agreement
shall be deemed in full and complete accord, satisfaction and settlement of any such released matter and sufficient basis for dismissal.
..

 

iii. Except
as expressly provided herein, Employee acknowledges and agrees that, by signing this Agreement, Employee is surrendering and giving up
any right Employee has or may have, without limiting the generality of any other provision herein, to assert any claim for individual
relief or damages against or involving Employer or the Releasees arising from or in any way relating to Employee’s employment with
Employer or the termination thereof, or to permit Employee to become and remain a member of any class seeking individual relief or damages
against Employer or the Releasees arising from or in any way relating to Employee’s employment with Employer or the termination
thereof. Nothing herein, however, shall prevent Employee from filing a charge with or participating in any investigation or proceeding
conducted by the Equal Employment Opportunity Commission or a state or local fair employment practices agency; provided, however, that
Employee further agrees and understands that Employee has waived Employee’s right to recover monetary damages or other relief personal
to employees in any such charge, complaint, grievance or lawsuit filed by Employee or on Employee’s behalf arising from, or in
any way relating to, Employee’s employment with Employer or the termination thereof, to the maximum extent permitted by applicable
law. This release shall not apply to any claims which may not be released pursuant to applicable law and shall not apply to (1) Employee’s
Equity Rights and rights to enforce the Employment Agreement with respect to any claims with respect to payments and benefits under Sections
6.1(a), (d), and (f) of the Employment Agreement (and any payments and benefits under Section 6.5 of the Employment Agreement in the
event that a termination occurs within twelve (12) months following a change in control), with respect to Severance and rights under
Section 8.7 of the Employment Agreement, and (2) any rights in the nature of indemnification , advancement of expense reimbursement or
entitlement to insurance coverage, which the Employee may have with respect to claims against the Employee relating to or arising out
of his employment with, or other provision of services to, the Company Entities.

 

iv. Notwithstanding
anything herein or in any other agreement with or policy of the Employer to which Employee was or is subject, nothing herein or therein
shall (A) prohibit Employee from making reports of possible violations of federal law or regulation to any governmental agency or entity
in accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange Act of 1934, as amended, or Section
806 of the Sarbanes-Oxley Act of 2002, or of any other whistleblower protection provisions of state or federal law or regulation, or
(B) require Employee to comply with any notification or prior approval requirement with respect to any reporting described in clause
(A); provided, however, that Employee is not authorized to disclose communications with counsel that were made for the purpose
of receiving legal advice or that contain legal advice or that are protected by the attorney work product or similar privilege. Furthermore,
Employee shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret
that is made (1) in confidence to a federal, state or local government official, either directly or indirectly, or to an attorney, in
each case, solely for the purpose of reporting or investigating a suspected violation of law or (2) in a complaint or other document
filed in a lawsuit or proceeding, if such filings are made under seal.

 

    	Exhibit A-3

     

    

 

(b) Covenant
Not to Sue. Additionally, Employee agrees not sue, commence, assert, bring or file in any court or other tribunal, in any jurisdiction,
any suit, action, litigation, complaint, cross-complaint, counterclaim, third-party complaint, petition or other pleading or proceeding,
or otherwise seek affirmative relief against any Releasees on account of any claim released pursuant to this Agreement. Employee represents
that Employee has no charges, complaints, grievances or any other claims or requests for relief pending against Employer or the Releasees
(as defined above) with the Equal Employment Opportunity Commission or any other federal, state or local administrative or other judicial
tribunal and has no charges, complaints, grievances or any other claims regarding allegations of sexual harassment or sexual misconduct
against the Employer.

 

(c) Consideration.
The Employee acknowledges the Severance is in addition to anything of value to which the Employee already is entitled from the Employer
and its affiliates and constitutes good and valuable additional consideration for this Agreement.

 

3. Acknowledgement
of Restrictive Covenants. Employee acknowledges that Employee remains bound by his obligations pursuant to Article 8 of the Employment
Agreement.

 

4. No
Admission of Liability. Employee agrees and acknowledges that nothing contained in this Agreement, nor the fact that Employee has
been or will be paid any remuneration under it, shall be construed, considered or deemed to be an admission of liability or wrongdoing
by either Employer or any of the Releasees. Employer and the Releasees deny committing any wrongdoing or violating any legal duty with
respect to the Employee’s employment or the termination of Employee’s employment from Employer. The terms of this Agreement,
including all facts, circumstances, statements and documents, shall not be admissible or submitted as evidence in any litigation, in
any forum, for any purpose, other than to secure enforcement of the terms and conditions of this Agreement, or as may otherwise be required
by law.

 

5. Knowing
and Voluntary Waiver; Acknowledgements.

 

(a) The
Employee acknowledges that, by the Employee’s free and voluntary act of signing below, the Employee agrees to all of the terms
of this Agreement and intends to be legally bound thereby. By signing this Agreement, Employee hereby acknowledges and agrees that:

 

		i.	Employee
                                            has been afforded a reasonable and sufficient period of time to review this Agreement, for
                                            deliberation thereon and for negotiation of the terms thereof, and Employee is hereby specifically
                                            urged and advised by Employer to consult with an attorney, legal counsel or a representative
                                            of Employee’s choice before signing it;
	 	 	 
		ii.	Employee
                                            has carefully read and understands the terms of this Agreement, all of which have been fully
                                            explained to Employee;

 

    	Exhibit A-4

     

    

 

		iii.	Employee
                                            has signed this Agreement freely and voluntarily and without duress or coercion and with
                                            full knowledge of its significance and consequences and of the rights relinquished, surrendered,
                                            released and discharged hereunder;
	 	 	 
		iv.	The
                                            only consideration for signing this Agreement are the terms stated herein and no other promise,
                                            agreement or representation of any kind has been made to Employee by any person or entity
                                            whatsoever to cause Employee to sign this Agreement;
	 	 	 
		v.	Employee
                                            acknowledges that Employee has been informed that Employee has the right to consider this
                                            Agreement for a period of at least 21 days prior to entering into this Agreement. Employee
                                            expressly acknowledges that Employee has taken sufficient time to consider this Agreement
                                            before signing it;
	 	 	 
		vi.	Employee
                                            expressly acknowledges that, if any changes – whether material or immaterial –
                                            are or were made to this Agreement after Employee’s receipt for review, such changes
                                            do not commence a new 21 day period for consideration; and
	 	 	 
		vii.	Employee
                                            acknowledges that this Agreement does not waive rights or claims that may arise after the
                                            date this Agreement is signed.

 

(b) Effective
Date. This Agreement will become effective, enforceable and irrevocable on the eighth day after the date on which it is executed
by the Employee (the “Effective Date”), provided that the Parties acknowledge and agree that this Agreement shall
be null and void if executed prior to the Termination Date. During the seven-day period prior to the Effective Date, the Employee may
revoke Employee’s agreement to accept the terms hereof by indicating in writing to the Employer his or her intention to revoke.
If the Employee exercises Employee’s right to revoke hereunder, Employee shall forfeit Employee’s right to receive any Severance
Payments.

 

6. Miscellaneous.

 

(a) Non-Disclosure.
Employee acknowledges and agrees that Employee will not disclose the terms of this Agreement to anyone except for Employee’s spouse,
tax advisor and/or attorney, and only then after having received assurances that they too will honor this confidentiality provision.

 

(b) Withholding.
The Employer may withhold from any amounts payable to the Employee all federal, state, city or other taxes that the Employer may
reasonably determine are required to be withheld pursuant to any applicable law or regulation, (it being understood that the Employee
shall be responsible for payment of all taxes in respect of the payments and benefits provided herein).

 

    	Exhibit A-5

     

    

 

(c) Severability.
Any provision of this Agreement (or portion thereof) which is deemed invalid, illegal or unenforceable in any jurisdiction shall, as
to that jurisdiction be ineffective to the extent of such invalidity, illegality or unenforceability, without affecting in any way the
remaining provisions thereof in such jurisdiction or rendering that or any other provisions of this Agreement invalid, illegal, or unenforceable
in any other jurisdiction. If any covenant should be deemed invalid, illegal or unenforceable because its scope is considered excessive,
such covenant shall be modified so that the scope of the covenant is reduced only to the minimum extent necessary to render the modified
covenant valid, legal and enforceable. No waiver of any provision or violation of this Agreement by the Employer shall be implied by
the Employer’s forbearance or failure to take action.

 

(d) Notices.
All notices given hereunder shall be in writing and shall be sent by registered or certified mail, return receipt requested, or a national
overnight courier service capable of providing delivery confirmation, or by hand-delivery, or by facsimile transmission with confirmed
receipt, and, if intended for the Employer, shall be addressed to it at: __________________________, Attn: General Counsel and if intended
for the Employee, shall be addressed to Employee at the address on file at Employer. Each such notice shall be deemed to be given on
the date received at the address of the addressee or upon refusal to accept delivery.

 

(e) Entire
Agreement. This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and
supersede all prior agreements relating thereto whether written or oral.

 

(f) Execution.
This Agreement may be executed in two or more facsimiled counterparts, each of which shall be equivalent to an original, but which collectively
shall constitute one Agreement.

 

(g) Modification;
Successors and Assigns. This Agreement may not be modified or amended, nor may any rights under it be waived, except in a writing
signed and agreed to by the Parties. This Agreement shall be binding upon, inure to the benefit of and be enforceable by the Parties
and their respective successors, assigns, legal representatives, executors, administrators and heirs, provided that Employee may not
assign his obligations under this Agreement. Employee acknowledges and agree that the Releasees are express third party beneficiaries
of this Agreement.

 

7. Governing
Law

 

(a) Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without giving effect
to the rules of conflicts of law.

 

(b) Arbitration.
Any dispute, claim or controversy arising under or in connection with this Agreement or Section 13.8 of the Employment Agreement
is incorporated herein in its entirety mutatis mutandis.

 

[Remainder
of Page Intentionally Left Blank]

 

    	Exhibit A-6

     

    

 

IN
WITNESS WHEREOF, the Parties hereto have executed and delivered this Agreement on the date first written above.

 

	 	Sidus
    Space, Inc.
	 	 	                                                                                                    
	 	 	
	 	By:	
	 	Title:	CFO
	 	 	 
	 	 	
	 	 	Carol
    Craig

 

    	Exhibit A-7

     

    

 

EXHIBIT
B

 

[Indemnification
Agreement]

 

    	Exhibit B-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00343-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00343-of-00352.parquet"}]]