Document:

Exhibit 10.6

 

ONCOBIOLOGICS,
INC.

 

CONSULTING AGREEMENT

 

This Consulting Agreement
(this “Agreement”) is made and entered into as of July 2, 2018 (the “Effective Date”)
by and between Oncobiologics, Inc., a Delaware corporation with its principal place of business at 7 Clarke Drive, Cranbury, New
Jersey, 08512 USA (the “Company”), and Pankaj Mohan, Ph.D. (“Consultant”) (each
herein referred to individually as a “Party,” or collectively as the “Parties”).

 

The Company desires to
retain Consultant as an independent contractor to perform consulting services for the Company, and Consultant is willing to perform
such services, on the terms described below. In consideration of the mutual promises contained herein, the Parties agree as follows:

 

1.     Services
and Compensation

 

Consultant shall perform
the services described in Exhibit A (the “Services”) for the Company (or its designee), and
the Company agrees to pay Consultant the compensation described in Exhibit A for Consultant’s performance of
the Services.

 

2.     Applicability
to Past Activities

 

Consultant agrees that
if and to the extent that Consultant provided any services or made efforts on behalf of or for the benefit of Company, or related
to the current or prospective business of Company in anticipation of Consultant’s involvement with the Company, that would
have been “Services” if performed during the term of this Agreement (the “Prior Consulting Period”)
and to the extent that during the Prior Consulting Period: (i) Consultant received access to any information from or on behalf
of Company that would have been “Confidential Information” (as defined below) if Consultant received access to such
information during the term of this Agreement; or (ii) Consultant conceived, created, authored, invented, developed or reduced
to practice any item (including any intellectual property rights with respect thereto) on behalf of or for the benefit of Company,
or related to the current or prospective business of Company in anticipation of Consultant’s involvement with Company, that
would have been an “Invention” (as defined below) if conceived, created, authored, invented, developed or reduced to
practice during the term of this Agreement; then any such information shall be deemed “Confidential Information” hereunder
and any such item shall be deemed an “Invention” hereunder, and this Agreement shall apply to such activities, information
or item as if disclosed, conceived, created, authored, invented, developed or reduced to practice during the term of this Agreement.
Consultant further acknowledges that Consultant has been fully compensated for all services provided during any such Prior Consulting
Period.

 

3.     Confidentiality

 

A.     Definition
of Confidential Information. “Confidential Information” means any information (including any
and all combinations of individual items of information) that relates to the actual or anticipated business and/or products, research
or development of the Company, its affiliates or subsidiaries, or to the Company’s, its affiliates’ or subsidiaries’
technical data, trade secrets, or know-how, including, but not limited to, research, product plans, or other information regarding
the Company’s, its affiliates’ or subsidiaries’ products or services and markets therefor, customer lists and
customers (including, but not limited to, customers of the Company on whom Consultant called or with whom Consultant became acquainted
during the term of this Agreement), software, developments, inventions, discoveries, ideas, processes, formulas, technology, designs,
drawings, engineering, hardware configuration information, marketing, finances, and other business information disclosed by the
Company, its affiliates or subsidiaries, either directly or indirectly, in writing, orally or by drawings or inspection of premises,
parts, equipment, or other property of Company, its affiliates or subsidiaries. Notwithstanding the foregoing, Confidential Information
shall not include any such information which Consultant can establish (i) was publicly known or made generally available prior
to the time of disclosure to Consultant; (ii) becomes publicly known or made generally available after disclosure to Consultant
through no wrongful action or inaction of Consultant; or (iii) is in the rightful possession of Consultant, without confidentiality
obligations, at the time of disclosure as shown by Consultant’s then-contemporaneous written records; provided that any combination
of individual items of information shall not be deemed to be within any of the foregoing exceptions merely because one or more
of the individual items are within such exception, unless the combination as a whole is within such exception.

 

     

     

    

  

B.     Nonuse
and Nondisclosure. During and after the term of this Agreement, Consultant will hold in the strictest confidence, and take
all reasonable precautions to prevent any unauthorized use or disclosure of Confidential Information, and Consultant will not (i) use
the Confidential Information for any purpose whatsoever other than as necessary for the performance of the Services on behalf of
the Company, or (ii) subject to Consultant’s right to engage in Protected Activity (as defined below) disclose the Confidential
Information to any third party without the prior written consent of an authorized representative of the Company, except that Consultant
may disclose Confidential Information to the extent compelled by applicable law; provided however, prior to such disclosure,
Consultant shall provide prior written notice to Company and seek a protective order or such similar confidential protection as
may be available under applicable law. Consultant agrees that no ownership of Confidential Information is conveyed to the Consultant.
Without limiting the foregoing, Consultant shall not use or disclose any Company property, intellectual property rights, trade
secrets or other proprietary know-how of the Company to invent, author, make, develop, design, or otherwise enable others to invent,
author, make, develop, or design identical or substantially similar designs as those developed under this Agreement for any third
party. Consultant agrees that Consultant’s obligations under this Section 3.B shall continue after the termination of
this Agreement.

 

C.     Other
Client Confidential Information. Consultant agrees that Consultant will not improperly use, disclose, or induce the Company
to use any proprietary information or trade secrets of any former or current employer of Consultant or other person or entity with
which Consultant has an obligation to keep in confidence. Consultant also agrees that Consultant will not bring onto the Company’s
premises or transfer onto the Company’s technology systems any unpublished document, proprietary information, or trade secrets
belonging to any third party unless disclosure to, and use by, the Company has been consented to in writing by such third party.

 

D.     Third
Party Confidential Information. Consultant recognizes that the Company has received and in the future will receive from
third parties their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality
of such information and to use it only for certain limited purposes. Consultant agrees that at all times during the term of this
Agreement and thereafter, Consultant owes the Company and such third parties a duty to hold all such confidential or proprietary
information in the strictest confidence and not to use it or to disclose it to any person, firm, corporation, or other third party
except as necessary in carrying out the Services for the Company consistent with the Company’s agreement with such third
party.

 

4.     Ownership

 

A.     Assignment
of Inventions. Consultant agrees that all right, title, and interest in and to any copyrightable material, notes, records,
drawings, designs, inventions, improvements, developments, discoveries, ideas, and trade secrets conceived, discovered, authored,
invented, developed or reduced to practice by Consultant, solely or in collaboration with others, during the term of this Agreement
and arising out of, or in connection with, performing the Services under this Agreement and any copyrights, patents, trade secrets,
mask work rights or other intellectual property rights relating to the foregoing (collectively, “Inventions”),
are the sole property of the Company. Consultant also agrees to promptly make full written disclosure to the Company of any Inventions
and to deliver and assign (or cause to be assigned) and hereby irrevocably assigns fully to the Company all right, title and interest
in and to the Inventions.

 

B.     Pre-Existing
Materials. Subject to Section 4.A, Consultant will provide the Company with prior written notice if, in the course
of performing the Services, Consultant incorporates into any Invention or utilizes in the performance of the Services any invention,
discovery, idea, original works of authorship, development, improvements, trade secret, concept, or other proprietary information
or intellectual property right owned by Consultant or in which Consultant has an interest, prior to, or separate from, performing
the Services under this Agreement (“Prior Inventions”), and the Company is hereby granted a nonexclusive,
royalty-free, perpetual, irrevocable, transferable, worldwide license (with the right to grant and authorize sublicenses) to make,
have made, use, import, offer for sale, sell, reproduce, distribute, modify, adapt, prepare derivative works of, display, perform,
and otherwise exploit such Prior Inventions, without restriction, including, without limitation, as part of or in connection with
such Invention, and to practice any method related thereto. Consultant will not incorporate any invention, discovery, idea, original
works of authorship, development, improvements, trade secret, concept, or other proprietary information or intellectual property
right owned by any third party into any Invention without Company’s prior written permission.

 

     

     

    

  

C.     Moral
Rights. Any assignment to the Company of Inventions includes all rights of attribution, paternity, integrity, modification,
disclosure and withdrawal, and any other rights throughout the world that may be known as or referred to as “moral rights,”
 “artist’s rights,” “droit moral,” or the like (collectively, “Moral Rights”).
To the extent that Moral Rights cannot be assigned under applicable law, Consultant hereby waives and agrees not to enforce any
and all Moral Rights, including, without limitation, any limitation on subsequent modification, to the extent permitted under applicable
law.

 

D.     Maintenance
of Records. Consultant agrees to keep and maintain adequate, current, accurate, and authentic written records of all Inventions
made by Consultant (solely or jointly with others) during the term of this Agreement, and for a period of three (3) years thereafter.
The records will be in the form of notes, sketches, drawings, electronic files, reports, or any other format that is customary
in the industry and/or otherwise specified by the Company. Such records are and remain the sole property of the Company at all
times and upon Company’s request, Consultant shall deliver (or cause to be delivered) the same.

 

E.     Further
Assurances. Consultant agrees to assist Company, or its designee, at the Company’s expense, in every proper way to
secure the Company’s rights in Inventions in any and all countries, including the disclosure to the Company of all pertinent
information and data with respect thereto, the execution of all applications, specifications, oaths, assignments and all other
instruments that the Company may deem necessary in order to apply for, register, obtain, maintain, defend, and enforce such rights,
and in order to deliver, assign and convey to the Company, its successors, assigns and nominees the sole and exclusive right, title,
and interest in and to all Inventions and testifying in a suit or other proceeding relating to such Inventions. Consultant further
agrees that Consultant’s obligations under this Section 4.E shall continue after the termination of this Agreement.

 

F.     Attorney-in-Fact.
Consultant agrees that, if the Company is unable because of Consultant’s unavailability, dissolution, mental or physical
incapacity, or for any other reason, to secure Consultant’s signature with respect to any Inventions, including, without
limitation, for the purpose of applying for or pursuing any application for any United States or foreign patents or mask work or
copyright registrations covering the Inventions assigned to the Company in Section 4.A, then Consultant hereby irrevocably
designates and appoints the Company and its duly authorized officers and agents as Consultant’s agent and attorney-in-fact,
to act for and on Consultant’s behalf to execute and file any papers and oaths and to do all other lawfully permitted acts
with respect to such Inventions to further the prosecution and issuance of patents, copyright and mask work registrations with
the same legal force and effect as if executed by Consultant. This power of attorney shall be deemed coupled with an interest,
and shall be irrevocable.

 

5.     Conflicting
Obligations

 

Consultant represents and
warrants that Consultant has no agreements, relationships, or commitments to any other person or entity that conflict with Consultant’s
obligations to the Company under this Agreement and/or Consultant’s ability to perform the Services for the Company. During
the term of this Agreement, Consultant agrees not to enter into any agreement that conflicts with Consultant’s ability to
perform the Services for the Company, as described in Exhibit A.

 

6.     Return
of Company Materials

 

Upon the termination of
this Agreement, or upon Company’s earlier request, Consultant will immediately deliver to the Company, and will not keep
in Consultant’s possession, recreate, or deliver to anyone else, any and all Company property, including, but not limited
to, Confidential Information, tangible embodiments of the Inventions, all devices and equipment belonging to the Company, all electronically-stored
information and passwords to access such property, those records maintained pursuant to Section 4.D and any reproductions
of any of the foregoing items that Consultant may have in Consultant’s possession or control.

 

7.     Term
and Termination

 

A.     Term.
The term of this Agreement will begin on the Effective Date of this Agreement and, subject to mutually agreed upon extensions,
will continue until the earlier of (i) the date that is six (6) months from the Effective Date; (ii) final completion of the
Services or (iiii) termination as provided in Section 7.B.

 

     

     

    

  

B.     Termination.
The Company may terminate this Agreement upon giving Consultant fourteen (14) days prior written notice of such termination pursuant
to Section 13.G of this Agreement. The Company may terminate this Agreement immediately and without prior notice if Consultant
refuses to or is unable to perform the Services or is in breach of any material provision of this Agreement.

 

C.     Survival.
Upon any termination, all rights and duties of the Company and Consultant toward each other shall cease except:

 

(1)     The
Company will pay, within thirty (30) days after the effective date of termination, all amounts owing to Consultant for Services
completed and accepted by the Company prior to the termination date and related reimbursable expenses, if any, submitted in accordance
with the Company’s policies and in accordance with the provisions of Section 1 of this Agreement; and

 

(2)     Section 3
(Confidentiality), Section 4 (Ownership), Section 5.B (Conflicting Obligations), Section 6 (Return of Company Materials),
Section 7 (Term and Termination), Section 8 (Independent Contractor; Benefits), Section 9 (Indemnification), Section 10
(Nonsolicitation), Section 11 (Limitation of Liability), Section 12 (Arbitration and Equitable Relief), and Section 13
(Miscellaneous) will survive termination or expiration of this Agreement in accordance with their terms.

 

8.     Independent
Contractor; Benefits

 

A.     Independent
Contractor. It is the express intention of the Company and Consultant that Consultant perform the Services as an independent
contractor to the Company. Nothing in this Agreement shall in any way be construed to constitute Consultant as an agent, employee
or representative of the Company. Without limiting the generality of the foregoing, Consultant is not authorized to bind the Company
to any liability or obligation or to represent that Consultant has any such authority, with the exception of actions that Consultant
may take on behalf of the Company during the time that he serves on the Company’s Board of Directors (the “Board”).
Consultant agrees to furnish (or reimburse the Company for) all tools and materials necessary to accomplish this Agreement. Consultant
acknowledges and agrees that Consultant is obligated to report as income all compensation received by Consultant pursuant to this
Agreement. Consultant agrees to and acknowledges the obligation to pay all self-employment and other taxes on such income.

 

B.     Benefits.
The Company and Consultant agree that Consultant will receive no Company-sponsored benefits from the Company where benefits include,
but are not limited to, paid vacation, sick leave, medical insurance and 401k participation. If Consultant is reclassified by a
state or federal agency or court as the Company’s employee, Consultant will become a reclassified employee and will receive
no benefits from the Company, except those mandated by state or federal law, even if by the terms of the Company’s benefit
plans or programs of the Company in effect at the time of such reclassification, Consultant would otherwise be eligible for such
benefits.

 

9.     Indemnification

 

Consultant agrees to indemnify
and hold harmless the Company and its affiliates and their directors, officers and employees from and against all taxes, losses,
damages, liabilities, costs and expenses, including attorneys’ fees and other legal expenses, arising directly or indirectly
from or in connection with (i) any negligent, reckless or intentionally wrongful act of Consultant or Consultant’s assistants,
employees, contractors or agents, (ii) a determination by a court or agency that the Consultant is not an independent contractor,
(iii) any breach by the Consultant or Consultant’s assistants, employees, contractors or agents of any of the covenants
contained in this Agreement and corresponding Confidential Information and Invention Assignment Agreement, (iv) any failure
of Consultant to perform the Services in accordance with all applicable laws, rules and regulations, or (v) any violation
or claimed violation of a third party’s rights resulting in whole or in part from the Company’s use of the Inventions
or other deliverables of Consultant under this Agreement.

 

10.   Nonsolicitation

 

Consultant shall continue
to abide by the terms of the Separation Agreement and Release between Consultant and the Company, dated July 2, 2018 (the “Separation
Agreement”), including, but not limited to the nonsolicitation provisions contained in the Separation Agreement.

 

     

     

    

  

11.   Limitation
of Liability

 

IN NO EVENT SHALL COMPANY
BE LIABLE TO CONSULTANT OR TO ANY OTHER PARTY FOR ANY INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES, OR DAMAGES FOR LOST
PROFITS OR LOSS OF BUSINESS, HOWEVER CAUSED AND UNDER ANY THEORY OF LIABILITY, WHETHER BASED IN CONTRACT, TORT (INCLUDING NEGLIGENCE)
OR OTHER THEORY OF LIABILITY, REGARDLESS OF WHETHER COMPANY WAS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND NOTWITHSTANDING
THE FAILURE OF ESSENTIAL PURPOSE OF ANY LIMITED REMEDY. IN NO EVENT SHALL COMPANY’S LIABILITY ARISING OUT OF OR IN CONNECTION
WITH THIS AGREEMENT EXCEED THE AMOUNTS PAID BY COMPANY TO CONSULTANT UNDER THIS AGREEMENT FOR THE SERVICES, DELIVERABLES OR INVENTION
GIVING RISE TO SUCH LIABILITY.

 

12.   Arbitration
and Equitable Relief

 

A.     Arbitration.
In consideration of Consultant’s consulting relationship with the Company, its promise to arbitrate all disputes related
to Consultant’s consulting relationship with the Company and Consultant’s receipt of the compensation AND OTHER BENEFITS
paid to Consultant by Company, at present and in the future, Consultant agrees that any and all controversies, claims, or disputes
with anyone (including Company and any employee, officer, director, shareholder or benefit plan of the Company in their capacity
as such or otherwise) arising out of, relating to, or resulting from Consultant’s consulting OR OTHER relationship with the
Company or the termination of Consultant’s consulting OR OTHER relationship with the Company, including any breach of this
Agreement, shall be subject to binding arbitration under the Arbitration Rules set forth in N.Y. Civ. Prac. Law Section 7501 et
seq. (the "Rules") and pursuant to New JERSEY law. CONSULTANT AGREES TO ARBITRATE any AND ALL COMMON LAW AND/OR statutory
claims under LOCAL, state, or federal law, including, but not limited to, claims under THE NEW Jersey StATUTES, CLAIMS RELATING
TO EMPLOYMENT OR INDEPENDENT CONTRACTOR STATUS, CLASSIFICATION, AND RELATIONSHIP WITH THE COMPANY, AND claims of BREACH OF CONTRACT,
EXCEPT AS PROHIBITED BY LAW. CONSULTANT ALSO AGREES TO ARBITRATE ANY AND ALL DISPUTES ARISING OUT OF OR RELATING TO THE INTERPRETATION
OR APPLICATION OF THIS AGREEMENT TO ARBITRATE, BUT NOT TO DISPUTES ABOUT THE ENFORCEABILITY, REVOCABILITY OR VALIDITY OF THIS AGREEMENT
TO ARBITRATE OR ANY PORTION HEREOF OR THE CLASS, COLLECTIVE AND REPRESENTATIVE PROCEEDING WAIVER HEREIN. WITH RESPECT TO ALL SUCH
CLAIMS AND DISPUTES THAT CONSULTANT AGREEs TO ARBITRATE, CONSULTANT HEREBY EXPRESSLY AGREES TO WAIVE, AND DOES WAIVE, ANY RIGHT
TO A TRIAL BY JURY. Consultant further understands that this Agreement to arbitrate also applies to any disputes that the Company
may have with Consultant. 

 

B.     Procedure.
Consultant agrees that any arbitration will be administered by Judicial Arbitration
 & Mediation Services, Inc. (“JAMS”) pursuant to its EMPLOYMENT Arbitration Rules & Procedures (the “JAMS
Rules”), WHICH ARE AVAILABLE AT http://www.jamsadr.com/rules-employment-arbitration/. CONSULTANT AGREES THAT
THE USE OF THE JAMS RULES DOES NOT CHANGE CONSULTANT’S CLASSIFICATION TO THAT OF AN EMPLOYEE. TO THE CONTRARY, CONSULTANT
REAFFIRMS THAT HE/SHE IS AN INDEPENDENT CONTRACTOR. Consultant agrees that the arbitrator shall have the power to decide any motions
brought by any party to the arbitration, including motions for summary judgment and/or adjudication and motions to dismiss and
demurrers, prior to any arbitration hearing. Consultant agrees that the arbitrator shall issue a written decision on the merits.
Consultant also agrees that the arbitrator shall have the power to award any remedies, including attorneys' fees and costs, available
under applicable law. Consultant agrees that the arbitrator shall administer and conduct any arbitration in a manner consistent
with the Rules, including N.J.S.A. 2A:24-1 ET SEQ.,
and that the arbitrator shall apply substantive and procedural New JERSEY law to any dispute or claim, without reference to rules
of conflict of law. To the extent that the JAMS Rules conflict with New JERSEY law, New JERSEY law shall take precedence. Consultant
further agrees that any arbitration under this agreement shall be conducted in MIDDLESEX County, New JERSEY. 

 

     

     

    

  

C.     Remedy.
Except as provided by the Rules, arbitration shall be the sole, exclusive and final remedy for any dispute between Consultant and
the Company. Accordingly, except as provided for by the Rules, neither Consultant nor the Company will be permitted to pursue court
action regarding claims that are subject to arbitration. Notwithstanding, the arbitrator will not have the authority to disregard
or refuse to enforce any lawful Company policy, and the arbitrator shall not order or require the Company to adopt a policy not
otherwise required by law which the Company has not adopted.

 

D.     Availability
of Injunctive Relief. Either party
may also petition the court for injunctive relief where either party alleges or claims a violation of any agreement regarding trade
secrets, or confidential information, or a breach of any restrictive covenant. In the event either party seeks injunctive relief,
the prevailing party shall be entitled to recover reasonable costs and attorneys’ fees.

 

E.     Administrative
Relief. Consultant understands that
this Agreement does not prohibit Consultant from pursuing an administrative claim with a local, state or federal administrative
body such as the Division of Human Rights, the Equal Employment Opportunity Commission, the National Labor Relations Board, or
the workers’ compensation board. This Agreement does, however, preclude Consultant from pursuing court action regarding any
such claim, except as permitted by law.

 

F.     Voluntary
Nature of Agreement. Consultant
acknowledges and agrees that CONSULTANT is executing this Agreement voluntarily and without any duress or undue influence by the
Company or anyone else. Consultant further acknowledges and agrees that CONSULTANT has carefully read this Agreement and that Consultant
has asked any questions needed for Consultant to understand the terms, consequences and binding effect of this Agreement and fully
understand it, including that Consultant is waiving CONSULTANT’S right to a jury trial. Finally, Consultant agrees
that CONSULTANT has been provided an opportunity to seek the advice of an attorney of Consultant’s choice before signing
this Agreement.

 

13.   Miscellaneous

 

A.     Governing
Law; Consent to Personal Jurisdiction. This Agreement shall be governed by the laws of the State of New Jersey, without
regard to the conflicts of law provisions of any jurisdiction. To the extent that any lawsuit is permitted under this Agreement,
the Parties hereby expressly consent to the personal and exclusive jurisdiction and venue of the state and federal courts located
in New Jersey.

 

B.     Assignability.
This Agreement will be binding upon Consultant’s heirs, executors, assigns, administrators, and other legal representatives,
and will be for the benefit of the Company, its successors, and its assigns. There are no intended third-party beneficiaries to
this Agreement, except as expressly stated. Except as may otherwise be provided in this Agreement, Consultant may not sell, assign
or delegate any rights or obligations under this Agreement. Notwithstanding anything to the contrary herein, Company may assign
this Agreement and its rights and obligations under this Agreement to any successor to all or substantially all of Company’s
relevant assets, whether by merger, consolidation, reorganization, reincorporation, sale of assets or stock, change of control
or otherwise.

 

     

     

    

  

C.     Entire
Agreement. This Agreement constitutes the entire agreement and understanding between the Parties with respect to the subject
matter herein and supersedes all prior written and oral agreements, discussions, or representations between the Parties, with the
exception of the Separation Agreement, the Employee Proprietary Information, Inventions, Non-Solicitation and Non-Competition Agreement
between the Company and Consultant, dated February 22, 2016, any provision of the Indemnity Agreement that applies to Consultant’s
position as a director on the Board, and any agreements between the Company and Consultant relating to stock or stock options or
Consultant’s position as a director on the Board. Consultant represents and warrants that Consultant is not relying on any
statement or representation not contained in this Agreement. To the extent any terms set forth in any exhibit or schedule conflict
with the terms set forth in this Agreement, the terms of this Agreement shall control unless otherwise expressly agreed by the
Parties in such exhibit or schedule.

 

D.     Headings.
Headings are used in this Agreement for reference only and shall not be considered when interpreting this Agreement.

 

E.     Severability.
If a court or other body of competent jurisdiction finds, or the Parties mutually believe, any provision of this Agreement, or
portion thereof, to be invalid or unenforceable, such provision will be enforced to the maximum extent permissible so as to effect
the intent of the Parties, and the remainder of this Agreement will continue in full force and effect.

 

F.     Modification,
Waiver. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, will be effective
unless in a writing signed by the Parties. Waiver by the Company of a breach of any provision of this Agreement will not operate
as a waiver of any other or subsequent breach.

 

G.     Notices.
All notices, requests, demands and other communications called for under this Agreement shall be in writing and shall be delivered
via e-mail, personally by hand or by courier, mailed by United States first-class mail, postage prepaid, or sent by facsimile directed
to the Party to be notified at the address or facsimile number indicated for such Party on the signature page to this Agreement,
or at such other address or facsimile number as such Party may designate by ten (10) days’ advance written notice to the
other Parties hereto. All such notices and other communications shall be deemed given upon personal delivery, three (3) days after
the date of mailing, or upon confirmation of facsimile transfer or e-mail. Notices sent via e-mail under this Section shall be
sent to either the e-mail address in this Agreement, or for e-mails sent by the Company to Executive, to the last e-mail address
on file with the Company.

 

H.     Attorneys’
Fees. In any court action at law or equity that is brought by one of the Parties to this Agreement to enforce or interpret
the provisions of this Agreement, the prevailing Party will be entitled to reasonable attorneys’ fees, in addition to any
other relief to which that Party may be entitled.

 

I.     Signatures.
This Agreement may be signed in two counterparts, each of which shall be deemed an original, with the same force and effectiveness
as though executed in a single document.

 

J.     Protected
Activity Not Prohibited. Consultant understands that nothing in this Agreement shall in any way limit or prohibit Consultant
from engaging in any Protected Activity. For purposes of this Agreement, “Protected Activity” shall mean
filing a charge, complaint, or report with, or otherwise communicating, cooperating, or participating in any investigation or proceeding
that may be conducted by, any federal, state or local government agency or commission, including the Securities and Exchange Commission
(“Government Agencies”). Consultant understands that in connection with such Protected Activity, Consultant
is permitted to disclose documents or other information as permitted by law, and without giving notice to, or receiving authorization
from, the Company. Notwithstanding the foregoing, Consultant agrees to take all reasonable precautions to prevent any unauthorized
use or disclosure of any information that may constitute Company confidential information to any parties other than the Government
Agencies. Consultant further understands that “Protected Activity” does not include the disclosure of
any Company attorney-client privileged communications. Pursuant to the Defend Trade Secrets Act of 2016, Consultant is notified
that an individual will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure
of a trade secret that (i) is made in confidence to a federal, state, or local government official (directly or indirectly) or
to an attorney solely for the purpose of reporting or investigating a suspected violation of law, or (ii) is made in a complaint
or other document filed in a lawsuit or other proceeding, if (and only if) such filing is made under seal. In addition, an individual
who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to
the individual’s attorney and use the trade secret information in the court proceeding, if the individual files any document
containing the trade secret under seal and does not disclose the trade secret, except pursuant to court order.

 

     

     

    

  

IN WITNESS WHEREOF, the
Parties hereto have executed this Consulting Agreement as of the date first written above.

 

	CONSULTANT	ONCOBIOLOGICS, Inc.
	 	 
	By:	
        /s/ Pankaj Mohan
	 	By:	/s/ Lawrence A. Kenyon
	 	 	 	 	 
	Name: 	
        Pankaj Mohan, Ph.D.
	 	Name:	  Lawrence A. Kenyon 
	 			 	 
	Title: 	
Consultant	 	Title: 	CFO
	 	 	 	 	 
	Address: 	 	 	Address:	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	Fax Number:	 	 	Fax Number:	 
	 	 	 	 	 
	Email:	 	 	Email:	 

 

     

     

    

  

 

EXHIBIT A

 

SERVICES AND COMPENSATION

 

1.     Contact.
Consultant’s principal Company contact:

 

	 	Name: 	
        Lawrence
        A. Kenyon

	 	Title: 	
        CFO

	 	Email: 	
        lawrencekenyon@OncoBiologics.com

 

 

2.     Services.
The Services will include, but will not be limited to, the following:

 

		·	Providing advice and guidance on the ONS-5010 development
program

 

Consultant will perform
Services for the Company on a project-by-project basis, and each project shall be mutually agreed upon between Consultant and the
Company and attached to this Exhibit A as successively numbered Schedule “A”s (e.g., Schedule A-1, Schedule
A-2, etc.) (each a “Project”). Each Project shall contain at a minimum a detailed description of the Services
to be performed and any deliverables to be provided, and together with this Agreement (but separate and apart from any other Project),
shall collectively constitute the entire agreement for such Project.

 

3.     Compensation.

 

A.     During
the Term, the Company will pay Consultant $20,416.67 per month.

 

B.     The
Company will reimburse Consultant, in accordance with Company policy, for all reasonable expenses incurred by Consultant in performing
the Services pursuant to this Agreement, if Consultant receives written consent from an authorized agent of the Company prior to
incurring such expenses and submits receipts for such expenses to the Company in accordance with Company policy.

 

The Company will make payment
of the monthly fee on or before the 1st day of each month, one month in arrears. In order to help prevent adverse tax
consequences to Consultant under Section 409A (as defined below), in no event will any payment under Section 3.A. of
this Exhibit be made later than the later of (1) March 15th of the calendar year following the calendar year in
which such payment was earned, or (2) the 15th day of the third (3rd) month following the end of the Company’s
fiscal year in which such payment was earned.

 

C.     All
payments and benefits provided for under this Agreement are intended to be exempt from or otherwise comply with the requirements
of Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and guidance thereunder (together, “Section 409A”),
so that none of the payments and benefits to be provided hereunder will be subject to the
additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to be
exempt or so comply. Each payment and benefit payable under this Agreement is intended to constitute a separate payment for purposes
of Section 1.409A-2(b)(2) of the Treasury Regulations. In no event will the Company reimburse Consultant for any taxes that
may be imposed on Consultant as a result of Section 409A.

 

     

     

    

  

This Exhibit A is
accepted and agreed upon as of July 2, 2018.

 

	 	CONSULTANT	 	 	ONCOBIOLOGICS, Inc.
	 	 	 	 	 
	By:	
        /s/ Pankaj Mohan
	 	By:	
        /s/ Lawrence A. Kenyon

	 	 	 	 	 
	Name:	
        /s/ Pankaj Mohan, Ph.D.
		Name:	
        Lawrence A. Kenyon

	 	 	 	 	 
	Title: 	
Consultant	 	Title:	
        CFOEX-10.1

 Exhibit 10.1 

SAEXPLORATION HOLDINGS, INC. 

AMENDED AND RESTATED 2018 LONG-TERM INCENTIVE PLAN 

1. Purpose. The SAExploration Holdings, Inc. 2018 Long-Term Incentive Plan was originally adopted by the Board and the
Company’s stockholders on January 26, 2018 and is hereby amended and restated (as so amended and restated, the “Plan”). The Plan’s purpose is to provide a means through which the Company may attract and retain key
personnel and to provide a means whereby directors, officers, employees, consultants and advisors of the Company, its Subsidiaries and its Affiliates (the “Company Group”) can acquire and maintain an equity interest in the Company,
or be paid incentive compensation, which may (but need not) be measured by reference to the value of Common Stock, thereby strengthening their commitment to the welfare of the Company Group and aligning their interests with those of the
Company’s stockholders. 
 2. Definitions. The following definitions shall be applicable throughout the Plan: 

“Affiliate” means (i) any person or entity that directly or indirectly controls, is controlled by or is under common control with
the Company and/or (ii) to the extent provided by the Committee, any person or entity in which the Company has a significant interest. The term “control” (including, with correlative meaning, the terms “controlled by” and
“under common control with”), as applied to any person or entity, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such person or entity, whether through the
ownership of voting or other securities, by contract or otherwise. 
 “Award” means, individually or collectively, any Incentive
Stock Option, Nonqualified Stock Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Other Stock-Based Award, Cash-Based Award granted under the Plan. 

“Award Agreement” means a written agreement between the Company and a Participant evidencing the grant of an Award (other than a Cash-Based
Award) to the Participant. 
 “Board” means the Board of Directors of the Company. 

“Business Combination” has the meaning given such term in the definition of “Change in Control.” 

“Cash-Based Award” means an Award that is not a Stock Appreciation Right, Restricted Stock Unit granted under Section 10 of the
Plan that is denominated and/or payable in cash. 
 “Cause” means in the case of a particular Award, unless the applicable Award
Agreement states otherwise, (i) the Company or an Affiliate having “cause” to terminate a Participant’s employment or service, as defined in any employment or consulting agreement between the Participant and any member of the
Company Group in effect at the time of such termination or (ii) in the absence of any such employment or consulting agreement (or the absence of any definition of “Cause” contained therein), the Participant’s (A) commission
of, conviction for, plea of guilty or nolo contendere to a felony or a crime involving moral turpitude, or other material act or omission involving dishonesty or fraud, (B) engaging in conduct that constitutes fraud or embezzlement,
(C) engaging in conduct that constitutes gross negligence or willful gross misconduct that results or could reasonably be expected to result in harm to any member of the Company Group’s business or reputation, (D) breach of any
material terms of written agreement between the Company and the Participant, (E) continued willful failure to substantially perform the Participant’s duties on behalf of the Company Group or (F) breach of any material policy of any
member of the Company Group. Any determination of whether Cause exists shall be made by the Committee in its sole discretion. 

 “Change in Control” shall, in the case of a particular Award, unless the applicable
Award Agreement states otherwise or contains a different definition of “Change in Control,” be deemed to occur upon: 
 (i) Any
individual, entity or group (within the meaning of Section 12(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) becomes the beneficial owner (within the
meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of either (A) the then-outstanding shares of Common Stock of the Company (the “Outstanding Company Common Stock”)
or (B) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however,
that, for purposes of this Section 2(f), the following acquisitions shall not constitute a Change in Control: (I) any acquisition by the Company, (II) any acquisition by any employee benefit plan (or related trust) sponsored or
maintained by the Company or any Affiliate, or (III) any acquisition by any corporation pursuant to a transaction that complies with Sections 2(g)(iii)(A), 2(g)(iii)(B) and 2(g)(iii)(C); 

(ii) During any period of twelve (12) consecutive months, individuals who, as of the date hereof, constitute the Board (the
“Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for
election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for
this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or
consents by or on behalf of a Person other than the Board; 
 (iii) Consummation of a reorganization (excluding a reorganization under either
Chapter 7 or Chapter 11 of Title 11 of the United States Code), merger, statutory share exchange or consolidation or similar transaction involving the Company or any of its Subsidiaries, a sale or other disposition of all or substantially all of the
assets of the Company, or the acquisition of assets or stock of another entity by the Company or any of its Subsidiaries (each, a “Business Combination”), in each case unless, following such Business Combination, (A) all or
substantially all of the individuals and entities that were the beneficial owners of the Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or
indirectly, more than fifty percent (50%) of the then-outstanding shares of common stock (or, for a non-corporate entity, equivalent securities) and the combined voting power of the then-outstanding voting
securities entitled to vote generally in the election of directors (or, for a non-corporate entity, equivalent governing body), as the case may be, of the entity resulting from such Business Combination
(including, without limitation, an entity that, as a result of such transaction, owns the Company or all or substantially all of the Company’s assets either directly or through one or more Subsidiaries) in substantially the same proportions as
their ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and the Outstanding Company Voting Securities, as the case may be, (B) no Person (excluding any corporation resulting from such Business
Combination or any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, fifty percent (50%) or more of, respectively, the then-outstanding
shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such corporation, except to the extent that such ownership existed prior to the Business
Combination, and (C) at least a majority of the members of the board of directors (or, for a non-corporate entity, equivalent governing body) of the entity resulting from such Business Combination were
members of the Incumbent Board at the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination; or 

 (iv) Approval by the stockholders of the Company of a complete liquidation or
dissolution of the Company. 
 “Code” means the Internal Revenue Code of 1986, as amended, and any successor thereto. Reference in
the Plan to any section of the Code shall be deemed to include any regulations or other interpretative guidance under such section, and any amendments or successor provisions to such section, regulations or guidance. 

“Committee” means the Compensation Committee of the Board or a committee of at least two people as the Board may appoint to administer
the Plan or, if no such committee has been appointed by the Board, the Board. 
 “Common Stock” means the common stock, par value
$0.0001 per share, of the Company (and any stock or other securities into which such common stock may be converted or into which it may be exchanged). 

“Company” means SAExploration Holdings, Inc., a Delaware corporation, and any successor thereto. 

“Confidential Information” means, unless the applicable Award Agreement states otherwise, any data, information or documentation
(including such that is received by third parties) that is competitively sensitive or commercially valuable and not generally known to the public, including data, information or documentation related or pertaining to: (1) finance, supply or
service; (2) customers, suppliers or consumers, including customer lists, relationships and profiles; (3) marketing or product information, including product planning, marketing strategies, marketing results, marketing forecasts, plans,
finance, operations, reports, sales estimates, business plans and internal performance results relating to past, present or future business activities, clients and suppliers; and (4) scientific or technical information, design, process,
procedure, formula or improvement, computer software, object code, source code, specifications, inventions or systems information, whether or not patentable or copyrightable, and that is not otherwise a Trade Secret. 

“Date of Grant” means the date on which the granting of an Award is authorized, or such other date as may be specified in such
authorization. 
 “Detrimental Activity” means any of the following: (1) unauthorized use, disclosure or dissemination of
Confidential Information or Trade Secrets pertaining to the business of any member of the Company Group; (2) any activity that would be grounds to terminate the Participant’s employment or service with any member of the Company Group for
Cause; or (3) a breach by the Participant of any restrictive covenant by which such Participant is bound, including, without limitation, any covenant not to compete or not to solicit, in any agreement with any member of the Company Group;
provided, however, that the activity described under clause (1) of this definition does not apply to (x) any Confidential Information or Trade Secrets which have become generally known to competitors of any member of the
Company Group through no act or omission by the Participant or (y) a Participant’s communications that are required by law or judicial process (e.g., subpoena). Further, this definition does not preclude a Participant from
communicating, cooperating or filing a complaint with any U.S. federal, state or local governmental or law enforcement branch, agency or entity (collectively, a “Governmental Entity”) with respect to possible violations of any U.S.
federal, state or local law or regulation, or otherwise making disclosures to any Governmental Entity, in each case, that are protected under the whistleblower provisions of any such law or regulation, provided that, in each case, such
communications and disclosures are consistent with applicable law and provided further that under no circumstance is the Participant authorized to disclose any information covered by the Company Group’s attorney-client privilege or attorney
work product or Trade Secrets without prior written consent of the Board or its designee. 

 “Effective Date” means first date on which the Plan has been both adopted by the
Board and approved by the Company’s shareholders. 
 “Eligible Director” means a person who is a
“non-employee director” within the meaning of Rule 16b-3 under the Exchange Act. 

“Eligible Person” means any (i) individual employed by any member of the Company Group; provided, however, that no
such employee covered by a collective bargaining agreement shall be an Eligible Person unless and to the extent that such eligibility is set forth in such collective bargaining agreement or in an agreement or instrument relating thereto;
(ii) director of any member of the Company Group; or (iii) consultant or advisor to any member of the Company Group who may be offered securities registrable on Form S-8 under the Securities Act or
pursuant to Rule 701 of the Securities Act, or any other available exemption, as applicable. 
 “Employment Agreement” means
an employment agreement or similar agreement between a Participant and a member of the Company Group. 
 “Exchange Act” has
the meaning given such term in the definition of “Change in Control,” and any reference in the Plan to any section of (or rule promulgated under) the Exchange Act shall be deemed to include any rules, regulations or other interpretative
guidance under such section or rule, and any amendments or successor provisions to such section, rules, regulations or guidance. 
 “Exercise
Price” has the meaning given such term in Section 7(b) of the Plan. 
 “Fair Market Value” means, on a given date,
(i) if the Common Stock is listed on the New York Stock Exchange or another national securities exchange, the closing sales price of the Common Stock reported on such national securities exchange, or, if there is no such sale on that date, then
on the last preceding date on which such a sale was reported; (ii) if the Common Stock is not listed on the New York Stock Exchange or another national securities exchange, but is quoted in the NASDAQ National Market Reporting System or another
inter-dealer quotation system on a last sale basis, the closing bid price or, if there is no such sale on that date, then on the last preceding date on which a sale was reported; or (iii) if the Common Stock is not listed on a national
securities exchange or quoted in an inter-dealer quotation system on a last sale basis, the amount determined by the Committee in good faith to be the fair market value of the Common Stock in a manner intended to satisfy the principles of
Section 409A of the Code. 
 “Good Reason” means the definition of such term as set forth in an Employment Agreement;
provided, that, in the absence of such an agreement, the concept shall not apply with respect to a Participant’s Awards. 

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

“Incentive Stock Option” means an Option that is designated by the Committee as an incentive stock option as described in
Section 422 of the Code and otherwise meets the requirements set forth in the Plan. 
 “Incumbent Board” has the meaning given
such term in the definition of “Change in Control.” 
 “Indemnifiable Person” shall have the meaning set forth in
Section 4(e) of the Plan. 
 “Mature Shares” means shares of Common Stock owned by a Participant that are not subject to
any pledge or security interest and that have been either previously acquired by the Participant on the open market or 

 
meet such other requirements, if any, as the Committee may determine are necessary in order to avoid an accounting earnings charge on account of the use of such shares to pay the Exercise Price
or satisfy a withholding obligation of the Participant. 
 “MIP Awards” means Awards of restricted stock units granted to Eligible
Persons in accordance with the terms of Section 11 in connection with and as contemplated by the Restructuring Support Agreement. 
 “MIP
Reserve” has the meaning given such term in Section 5(b) of the Plan. 
 “Nonqualified Stock Option” means an
Option that is not designated by the Committee as an Incentive Stock Option. 
 “Option” means an Award granted under Section 7
of the Plan. 
 “Option Period” has the meaning given such term in Section 7(c) of the Plan. 

“Other Stock-Based Award” means an Award that is not an Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, that
is granted under Section 10 of the Plan and is (1) payable by delivery of Common Stock and/or (2) measured by reference to the value of Common Stock. 

“Outstanding Company Common Stock” has the meaning given such term in the definition of “Change in Control.” 

“Outstanding Company Voting Securities” has the meaning given such term in the definition of “Change in Control.” 

“Participant” means an Eligible Person who has been selected by the Committee to participate in the Plan and to receive an Award
pursuant to Section 6 of the Plan. 
 “Permitted Transferee” shall have the meaning set forth in Section 14(b) of the Plan.

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

“Plan” shall have the meaning set forth in Section 1. 

“Restricted Period” means the period of time determined by the Committee during which an Award is subject to restrictions or, as
applicable, the period of time within which performance is measured for purposes of determining whether an Award has been earned. 
 “Restricted
Stock Unit” means an unfunded and unsecured promise to deliver shares of Common Stock, cash, other securities or other property, subject to certain restrictions (including, without limitation, a requirement that the Participant remain
continuously employed or provide continuous services for a specified period of time), granted under Section 9 of the Plan. 
 “Restricted
Stock” means Common Stock, subject to certain specified restrictions (including, without limitation, a requirement that the Participant remain continuously employed or provide continuous services for a specified period of time), granted
under Section 9 of the Plan. 
 “Restructuring” means the transactions contemplated by the Restructuring Support Agreement 

“Restructuring Support Agreement” means the Restructuring Support Agreement, dated as of December 19, 2017, among SAExploration
Holdings, Inc., SAExploration Sub, Inc. SAExploration, Inc., SAExploration Seismic Services (US), LLC, NES, LLC and the Supporting Holders Identified therein. 

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

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

“Stock Appreciation Right” or “SAR” means an Award granted under Section 8 of the Plan. 

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

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

(1) any corporation, association or other business entity of which more than fifty percent (50%) of the total voting power of shares of
Outstanding Company Voting Securities (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement that effectively transfers voting power) is at the time owned or controlled,
directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and 
 (2) any
partnership (or any comparable foreign entity (a) the sole general partner (or functional equivalent thereof) or the managing general partner of which is such Person or Subsidiary of such Person or (b) the only general partners (or
functional equivalents thereof) of which are that Person or one or more Subsidiaries of that Person (or any combination thereof). 
 “Substitute
Award” has the meaning given such term in Section 5(e). 
 “Sub-Plans”
means any sub-plan to this Plan that has been adopted by the Board or the Committee for the purpose of permitting the offering of Awards to employees of any member of the Company Group that are located outside
the United States of America, with each such sub-plan designed to comply with local laws applicable to offerings in such foreign jurisdictions. Although any Sub-Plan may
be designated a separate and independent plan from the Plan in order to comply with applicable local laws, the limits specified in Section 5 shall apply in the aggregate to the Plan and any Sub-Plan
adopted hereunder. 
 “Trade Secrets” means without limitation, (1) any data or information that is competitively sensitive or
commercially valuable and not generally known to the public and (2) any scientific or technical information, design, process, procedure, formula or improvement, computer software, object code, source code, specification, invention or systems
information, whether or not patentable or copyrightable, provided that this definition of Trade Secrets shall have the broadest meaning as permitted by law and shall extend beyond the definition of “trade secrets” as set 

forth in the Delaware Uniform Trade Secrets Act. 

3. Effective Date; Duration. The Plan shall be effective as of the Effective Date. Unless earlier terminated as provided
herein, the expiration date of the Plan, on and after which date no Awards may be granted hereunder, shall be the tenth (10th) anniversary of the Effective Date; provided, however,
that such expiration shall not affect Awards then outstanding, and the terms and conditions of the Plan shall continue to apply to such Awards. 

 4. Administration. (a) The Committee shall administer the Plan. To
the extent required to comply with the provisions of Rule 16b-3 promulgated under the Exchange Act (if the Board is not acting as the Committee under the Plan) it is intended that each member of the Committee
shall, at the time he takes any action with respect to an Award under the Plan, be an Eligible Director. However, the fact that a Committee member shall fail to qualify as an Eligible Director shall not invalidate any Award granted by the Committee
that is otherwise validly granted under the Plan. The majority of the members of the Committee shall constitute a quorum. The acts of a majority of the members present at any meeting at which a quorum is present or acts approved in writing by a
majority of the Committee shall be deemed the acts of the Committee. 
 (b) Subject to the provisions of the Plan and applicable law, the Committee shall
have the sole and plenary authority, in addition to other express powers and authorizations conferred on the Committee by the Plan, to: (i) designate Participants; (ii) determine the type or types of Awards to be granted to a Participant;
(iii) determine the number of shares of Common Stock to be covered by, or with respect to which payments, rights, or other matters are to be calculated in connection with, Awards; (iv) determine the terms and conditions of any Award;
(v) determine whether, to what extent, and under what circumstances Awards may be settled or exercised in cash, shares of Common Stock, other securities, other Awards or other property, or canceled, forfeited, or suspended and the method or
methods by which Awards may be settled, exercised, canceled, forfeited, or suspended; (vi) determine whether, to what extent, and under what circumstances the delivery of cash, Common Stock, other securities, other Awards or other property and
other amounts payable with respect to an Award shall be deferred either automatically or at the election of the Participant or of the Committee; (vii) interpret, administer, reconcile any inconsistency in, correct any defect in and/or supply
any omission in the Plan and any instrument or agreement relating to, or Award granted under, the Plan; (viii) establish, amend, suspend, or waive any rules and regulations and appoint such agents as the Committee shall deem appropriate for the
proper administration of the Plan; (ix) accelerate the vesting or exercisability of, payment for or lapse of restrictions on, Awards; (x) adopt Sub-Plans; and (xi) make any other determination
and take any other action that the Committee deems necessary or desirable for the administration of the Plan. 
 (c) The Committee may delegate to one or
more officers of any member of the Company Group the authority to act on behalf of the Committee with respect to any matter, right, obligation, or election that is the responsibility of or that is allocated to the Committee herein, and that may be
so delegated as a matter of law, except for grants of Awards to persons (i) subject to Section 16 of the Exchange Act. 
 (d) Unless otherwise
expressly provided in the Plan, all designations, determinations, interpretations, and other decisions under or with respect to the Plan or any Award or any documents evidencing Awards granted pursuant to the Plan shall be within the sole discretion
of the Committee, may be made at any time and shall be final, conclusive and binding upon all persons or entities, including, without limitation, the Company, any Affiliate, any Participant, any holder or beneficiary of any Award, and any
stockholder of the Company. 
 (e) No member of the Board, the Committee, delegate of the Committee or any employee or agent of the Company (each such
person, an “Indemnifiable Person”) shall be liable for any action taken or omitted to be taken or any determination made in good faith with respect to the Plan or any Award hereunder. Each Indemnifiable Person shall be indemnified
and held harmless by the Company against and from any loss, cost, liability, or expense (including attorneys’ fees) that may be imposed upon or incurred by such Indemnifiable Person in connection with or resulting from any action, suit or
proceeding to which such Indemnifiable Person may be a party or in which such Indemnifiable Person may be involved by reason of any action taken or omitted to be taken under the Plan or any Award Agreement and against and from any

 
and all amounts paid by such Indemnifiable Person with the Company’s approval, in settlement thereof, or paid by such Indemnifiable Person in satisfaction of any judgment in any such action,
suit or proceeding against such Indemnifiable Person; provided, that, the Company shall have the right, at its own expense, to assume and defend any such action, suit or proceeding and once the Company gives notice of its intent to
assume the defense, the Company shall have sole control over such defense with counsel of the Company’s choice. The foregoing right of indemnification shall not be available to an Indemnifiable Person to the extent that a final judgment or
other final adjudication (in either case not subject to further appeal) binding upon such Indemnifiable Person determines that the acts or omissions of such Indemnifiable Person giving rise to the indemnification claim resulted from such
Indemnifiable Person’s bad faith, fraud or willful criminal act or omission or that such right of indemnification is otherwise prohibited by law or by the Company’s Certificate of Incorporation or Bylaws. The foregoing right of
indemnification shall not be exclusive of any other rights of indemnification to which such Indemnifiable Persons may be entitled under the Company’s Certificate of Incorporation or Bylaws, as a matter of law, or otherwise, or any other power
that the Company may have to indemnify such Indemnifiable Persons or hold them harmless. 
 (f) Notwithstanding anything to the contrary contained in the
Plan, the Board may, in its sole discretion, at any time and from time to time, grant Awards and administer the Plan with respect to such Awards. In any such case, the Board shall have all the authority granted to the Committee under the Plan. 

5. Grant of Awards; Shares Subject to the Plan; Limitations. (a) The Committee may, from time to time, grant
Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Other Stock-Based Awards and Cash-Based to one or more Eligible Persons and shall grant MIP Awards in accordance with Section 11. 

(b) Subject to adjustment in accordance with Section 12 of the Plan, the Committee is authorized to deliver under the Plan Awards subject to the
following limitations: an aggregate of 35,000,000 shares of Common Stock for issuance under the Plan, which includes a 27,562,430 shares of Common Stock for of MIP Awards under the Plan (as described below), which is equal to ten percent (10%) of
the aggregate number of shares of Common Stock issued and outstanding on a fully diluted, as-converted basis after giving effect to dilution from full conversion of any Company preferred shares and/or secured
convertible notes convertible into Common Stock and full exercise of any Company warrants (the “MIP Reserve”). No more than 100,000 shares of Common Stock may be granted in respect of incentive stock options under the Plan to any
single participant during any single calendar year. 
 (c) Use of shares of Common Stock to pay the required Exercise Price or tax obligations, or shares
not issued in connection with settlement of an Option or SAR or that are used or withheld to satisfy tax obligations of the Participant shall, notwithstanding anything herein to the contrary, not be available again for other Awards under the Plan.
Shares underlying Awards under this Plan that are forfeited, cancelled, expire unexercised, or are settled in cash are available again for Awards under the Plan. 

(d) Shares of Common Stock delivered by the Company in settlement of Awards may be authorized and unissued shares, shares held in the treasury of the Company,
shares purchased on the open market or by private purchase, or a combination of the foregoing. 
 (e) Awards may, in the sole discretion of the Committee,
be granted under the Plan in assumption of, or in substitution for, outstanding awards previously granted by an entity acquired by the Company or with which the Company combines (“Substitute Awards”). The number of shares of Common
Stock underlying any Substitute Awards shall be counted against the aggregate number of shares of Common Stock available for Awards under the Plan. 

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

 7. Options. (a) Generally. Each Option granted under the
Plan shall be evidenced by an Award Agreement (whether in paper or electronic medium (including email or the posting on a web site maintained by the Company or a third party under contract with the Company)). Each Option so granted shall be subject
to the conditions set forth in this Section 7, and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. All Options granted under the Plan shall be Nonqualified Stock Options unless the
applicable Award Agreement expressly states that the Option is intended to be an Incentive Stock Option. Incentive Stock Options shall be granted only to Eligible Persons who are employees of the Company Group, and no Incentive Stock Option shall be
granted to any Eligible Person who is ineligible to receive an Incentive Stock Option under the Code. No Option shall be treated as an Incentive Stock Option unless the Plan has been approved by the stockholders of the Company in a manner intended
to comply with the stockholder approval requirements of Section 422(b)(1) of the Code, provided that any Option intended to be an Incentive Stock Option shall not fail to be effective solely on account of a failure to obtain such approval, but
rather such Option shall be treated as a Nonqualified Stock Option unless and until such approval is obtained. In the case of an Incentive Stock Option, the terms and conditions of such grant shall be subject to and comply with such rules as may be
prescribed by Section 422 of the Code. If for any reason an Option intended to be an Incentive Stock Option (or any portion thereof) shall not qualify as an Incentive Stock Option, then, to the extent of such nonqualification, such Option or
portion thereof shall be regarded as a Nonqualified Stock Option appropriately granted under the Plan. 
 (b) Exercise Price. Except as
otherwise provided by the Committee in the case of Substitute Awards, the exercise price (“Exercise Price”) per share of Common Stock for each Option shall not be less than one hundred percent (100%) of the Fair Market Value of such
share (determined as of the Date of Grant); provided, however, that in the case of an Incentive Stock Option granted to an employee who, at the time of the grant of such Option, owns stock representing more than ten percent (10%) of
the voting power of all classes of stock of any member of the Company Group, the Exercise Price per share shall not be less than one hundred and ten percent (110%) of the Fair Market Value per share on the Date of Grant. 

(c) Vesting and Expiration. Options shall vest and become exercisable in such manner and on such date or dates determined by the Committee and
set forth in an Award Agreement and shall expire after such period, not to exceed ten (10) years, as may be determined by the Committee (the “Option Period”); provided, however, that the Option Period shall not
exceed five (5) years from the Date of Grant in the case of an Incentive Stock Option granted to a Participant who on the Date of Grant owns stock representing more than ten percent (10%) of the voting power of all classes of stock of any
member of the Company Group; provided, further, that notwithstanding any vesting dates set by the Committee, the Committee may, in its sole discretion, accelerate the exercisability of any Option, which acceleration shall not affect
the terms and conditions of such Option other than with respect to exercisability. Unless otherwise provided in an Award Agreement, an Employment Agreement or otherwise by the Committee: (i) the unvested portion of an Option shall expire upon
termination of employment or service of the Participant granted the Option, and the vested portion of such Option shall remain exercisable for (A) one (1) year following termination of employment or service by reason of such Participant’s
death or disability (as determined by the Committee), but not later than the expiration of the Option Period or (B) ninety (90) days following termination of employment or service for any reason other than such Participant’s death or
disability, and other than such Participant’s termination of employment or service or Cause, but not later than the expiration of the Option Period; and (ii) both the unvested and the vested portion of an Option shall expire upon the
termination of the Participant’s employment or service by the Company for Cause. 

 (d) Method of Exercise and Form of Payment. No shares of Common Stock shall be delivered
pursuant to any exercise of an Option until payment in full of the Exercise Price therefor is received by the Company and the Participant has paid to the Company an amount equal to any federal, state, local and
non-U.S. income and employment taxes required to be withheld. Options that have become exercisable may be exercised by delivery of written or electronic notice of exercise to the Company in accordance with the
terms of the Option accompanied by payment of the Exercise Price. The Exercise Price shall be payable (i) in cash, check, cash equivalent and/or shares of Common Stock valued at the Fair Market Value at the time the Option is exercised
(including, pursuant to procedures approved by the Committee, by means of attestation of ownership of a sufficient number of shares of Common Stock in lieu of actual delivery of such shares to the Company); provided, that, such shares
of Common Stock are not subject to any pledge or other security interest and are Mature Shares and; (ii) by such other method as the Committee may permit in its sole discretion, including without limitation: (A) in other property having a
fair market value on the date of exercise equal to the Exercise Price or (B) if there is a public market for the shares of Common Stock at such time, by means of a broker-assisted “cashless exercise” pursuant to which the Company is
delivered a copy of irrevocable instructions to a stockbroker to sell the shares of Common Stock otherwise deliverable upon the exercise of the Option and to deliver promptly to the Company an amount equal to the Exercise Price or (C) by a
“net exercise” method whereby the Company withholds from the delivery of the shares of Common Stock for which the Option was exercised that number of shares of Common Stock having a Fair Market Value equal to the aggregate Exercise Price
for the shares of Common Stock for which the Option was exercised. Any fractional shares of Common Stock shall be settled in cash. 
 (e) Notification
upon Disqualifying Disposition of an Incentive Stock Option. Each Participant awarded an Incentive Stock Option under the Plan shall notify the Company in writing immediately after the date he or she makes a disqualifying disposition of any
Common Stock acquired pursuant to the exercise of such Incentive Stock Option. A disqualifying disposition is any disposition (including, without limitation, any sale) of such Common Stock before the later of (A) two (2) years after the Date of
Grant of the Incentive Stock Option or (B) one (1) year after the date of exercise of the Incentive Stock Option. The Company may, if determined by the Committee and in accordance with procedures established by the Committee, retain possession
of any Common Stock acquired pursuant to the exercise of an Incentive Stock Option as agent for the applicable Participant until the end of the period described in the preceding sentence. 

(f) Compliance With Laws, etc. Notwithstanding the foregoing, in no event shall a Participant be permitted to exercise an Option in a manner
that the Committee determines would violate the Sarbanes-Oxley Act of 2002, or any other applicable law or the applicable rules and regulations of the Securities and Exchange Commission or the applicable rules and regulations of any securities
exchange or inter-dealer quotation system on which the securities of the Company are listed or traded. 
 8. Stock Appreciation
Rights. (a) Generally. Each SAR granted under the Plan shall be evidenced by an Award Agreement (whether in paper or electronic medium (including email or the posting on a web site maintained by the Company or a third
party under contract with the Company)). Each SAR so granted shall be subject to the conditions set forth in this Section 8, and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. Any
Option granted under the Plan may include tandem SARs. The Committee also may award SARs to Eligible Persons independent of any Option. 
 (b) Vesting
and Expiration. A SAR granted in connection with an Option shall become exercisable and shall expire according to the same vesting schedule and expiration provisions as the corresponding Option. A SAR granted independent of an Option shall
vest and become exercisable and shall expire in such manner and on such date or dates determined by the Committee and set forth in an Award Agreement and shall expire after such period, not to exceed ten (10) years, as may be determined by the
Committee (the “SAR Period”); provided, however, that notwithstanding any vesting dates set by the Committee, the Committee may, in its sole discretion, accelerate the exercisability of any SAR, which acceleration
shall not affect the 

 
terms and conditions of such SAR other than with respect to exercisability. Unless otherwise provided in an Award Agreement, an Employment Agreement or otherwise by the Committee: (i) the
unvested portion of a SAR shall expire upon termination of employment or service of the Participant granted the SAR, and the vested portion of such SAR shall remain exercisable for (A) one (1) year following termination of employment or service
by reason of such Participant’s death or disability (as determined by the Committee), but not later than the expiration of the SAR Period or (B) ninety (90) days following termination of employment or service for any reason other than such
Participant’s death or disability, and other than such Participant’s termination of employment or service for Cause, but not later than the expiration of the SAR Period; and (ii) both the unvested and the vested portion of a SAR shall
expire upon the termination of the Participant’s employment or service by the Company for Cause. 
 (c) Method of Exercise. SARs that
have become exercisable may be exercised by delivery of written or electronic notice of exercise to the Company in accordance with the terms of the Award, specifying the number of SARs to be exercised and the date on which such SARs were awarded.
Notwithstanding the foregoing, if on the last day of the Option Period (or in the case of a SAR independent of an option, the SAR Period), the Fair Market Value exceeds the Strike Price, the Participant has not exercised the SAR or the corresponding
Option (if applicable), and neither the SAR nor the corresponding Option (if applicable) has expired, such SAR shall be deemed to have been exercised by the Participant on such last day and the Company shall make the appropriate payment therefor.

 (d) Payment. Upon the exercise of a SAR, the Company shall pay to the Participant an amount equal to the number of shares subject to the
SAR that are being exercised multiplied by the excess, if any, of the Fair Market Value of one share of Common Stock on the exercise date over the Strike Price, less an amount equal to any federal, state, local and
non-U.S. income and employment taxes required to be withheld. The Company shall pay such amount in cash, in shares of Common Stock valued at Fair Market Value, or any combination thereof, as determined by the
Committee. Any fractional shares of Common Stock shall be settled in cash. 
 9. Restricted Stock and Restricted Stock
Units. (a) Generally. Each grant of Restricted Stock and Restricted Stock Units shall be evidenced by an Award Agreement (whether in paper or electronic medium (including email or the posting on a web site
maintained by the Company or a third party under contract with the Company)). Each such grant shall be subject to the conditions set forth in this Section 9, and to such other conditions not inconsistent with the Plan as may be reflected in the
applicable Award Agreement. 
 (b) Stock Certificates; Escrow or Similar Arrangement. Upon the grant of Restricted Stock, the Committee shall
cause a stock certificate or book-entry designation registered in the name of the Participant to be issued and, if the Committee determines that the Restricted Stock shall be held by the Company or in escrow rather than delivered to the Participant
pending the release of the applicable restrictions, the Committee may require the Participant to additionally execute and deliver to the Company (i) an escrow agreement satisfactory to the Committee, if applicable, and (ii) the appropriate
stock power (endorsed in blank) with respect to the Restricted Stock covered by such agreement. If a Participant shall fail to execute an agreement evidencing an Award of Restricted Stock and, if applicable, an escrow agreement and blank stock power
within the amount of time specified by the Committee, the Award shall be null and void. Subject to the restrictions set forth in this Section 9 and the applicable Award Agreement, the Participant generally shall have the rights and privileges
of a stockholder as to such Restricted Stock, including without limitation the right to vote such Restricted Stock. To the extent shares of Restricted Stock are forfeited, any stock certificates or book-entry designations issued to the Participant
evidencing such shares shall be returned to the Company, and all rights of the Participant to such shares and as a stockholder with respect thereto shall terminate without further obligation on the part of the Company. 

 (c) Vesting; Acceleration of Lapse of Restrictions. Except as provided below: (i) the
Restricted Period shall lapse as determined by the Committee and set forth in an Award Agreement; and (ii) the unvested portion of Restricted Stock and Restricted Stock Units shall terminate and be forfeited upon termination of employment or
service of the Participant granted the applicable Award. 
 (d) Delivery of Restricted Stock and Settlement of Restricted Stock Units.
(i) Upon the expiration of the Restricted Period with respect to any shares of Restricted Stock, the restrictions set forth in the applicable Award Agreement shall be of no further force or effect with respect to such shares, except as set
forth in the applicable Award Agreement. If an escrow arrangement is used, upon such expiration, the Company shall deliver to the Participant, or his beneficiary, without charge, the stock certificate evidencing the shares of Restricted Stock that
have not then been forfeited and with respect to which the Restricted Period has expired. Dividends, if any, that may have been withheld by the Committee and attributable to any particular share of Restricted Stock shall be distributed to the
Participant in cash or, at the sole discretion of the Committee, in shares of Common Stock having a Fair Market Value equal to the amount of such dividends, upon the release of restrictions on such share and, if such share is forfeited, the
Participant shall have no right to such dividends (except as otherwise set forth by the Committee in the applicable Award Agreement). 
 (ii) Unless
otherwise provided in an Award Agreement, an Employment Agreement or otherwise by the Committee, upon the expiration of the Restricted Period with respect to any outstanding Restricted Stock Units, the Company shall deliver to the Participant, or
the Participant’s beneficiary, without charge, one share of Common Stock for each such outstanding Restricted Stock Unit; provided, however, that the Committee may, in its sole discretion, elect to (i) pay cash or part cash
and part Common Stock in lieu of delivering only shares of Common Stock in respect of such Restricted Stock Units or (ii) defer the delivery of Common Stock (or cash or part Common Stock and part cash, as the case may be) beyond the expiration
of the Restricted Period. If a cash payment is made in lieu of delivering shares of Common Stock, the amount of such payment shall be equal to the Fair Market Value of the Common Stock as of the date on which the Restricted Period lapsed with
respect to such Restricted Stock Units, less an amount equal to any federal, state, local and non-U.S. income and employment taxes required to be withheld. 

(e) Legends on Restricted Stock. Each certificate or book-entry designation representing Restricted Stock awarded under the Plan shall bear a
legend substantially in the form of the following in addition to any other information the Company deems appropriate until the lapse of all restrictions with respect to such Common Stock: 

TRANSFER OF THIS CERTIFICATE AND THE SHARES REPRESENTED HEREBY IS RESTRICTED PURSUANT TO THE TERMS OF THE SAEXPLORATION HOLDINGS, INC. 2018 LONG-TERM INCENTIVE
PLAN AND A RESTRICTED STOCK AWARD AGREEMENT, BETWEEN SAEXPLORATION HOLDINGS, INC. AND PARTICIPANT. A COPY OF SUCH PLAN AND AWARD AGREEMENT IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF SAEXPLORATION HOLDINGS, INC. 

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

 11. MIP Awards. (a) Generally. The Committee shall
grant MIP Awards consistent with the terms of the Exhibit C to the Restructuring Support Agreement covering shares of Common Stock subject to the MIP Reserve. MIP Awards shall be subject to the following terms: 

(b) Grant of MIP Awards. Sixty (60%) percent of the MIP Reserve was granted pursuant to MIP Awards to members of the Company’s senior
management pursuant to Exhibit C to the Restructuring Support Agreement promptly following the consummation of the Reorganization (the “Initial MIP Awards”). The remaining 40% of the MIP Reserve shall be allocated to Awards based on
the recommendation of the Company’s Chief Executive Officer, subject to the approval of the Committee (the “Reserved MIP Awards”) consistent with the vesting criteria in Section 11(c) below. 

(b) Vesting of Initial MIP Awards. The Board has accelerated the vesting of all Initial MIP Awards pursuant to the terms of Section 4(b)(ix)
herein. 
 (c) Vesting of Reserved MIP Awards. Subject to a Participant’s continuing employment with the Company Group on the applicable
vesting date, the Reserved MIP Awards shall become vested in accordance with vesting criteria established by the Committee; provided, that, the Reserved MIP Awards shall become fully vested no later than December 31, 2021. 

(d) Special Vesting of MIP Awards. Notwithstanding the foregoing provisions of this Section 11 and subject to a Participant’s
continuing employment with the Company Group on the applicable following vesting event, 100% of a Participant’s MIP Awards will vest in full on the earliest to occur of: (i) the Participant’s attainment of age 64 years,
(ii) December 31, 2020, if the Participant’s Employment Agreement is not renewed, and (iii) the termination of the Participant’s employment for any reason other than (A) a termination for Cause (as defined in the
applicable Executive’s Employment Agreement) or (B) a termination by such Executive without Good Reason (as defined in the applicable Executive’s Employment Agreement). 

(e) Settlement of MIP Awards. Subject to the requirements of Section 14(e) which may apply in the event of a termination of a
Participant’s employment, MIP Awards shall be settled in shares of Common Stock promptly upon the applicable vesting date(s) and/or vesting events set forth in Section 11 (b), (c) or (d) by issuing one share of Common Stock in
settlement for each Restricted Stock Unit, either by delivering one or more certificates for such shares of Common Stock or by entering such shares of Common Stock in book entry form (as determined by the Company in its discretion); provided,
however, that, notwithstanding the foregoing, Reserved Awards shall be settled on the payroll date following January 1 of a given year with respect to Reserved Awards that became vested in the prior calendar year to the extent
vested within 30 days after each year end during the vesting period. 
 (f) Forfeiture of MIP Awards. In the event of the termination of a
Participant’s employment by a member of the Company Group for Cause, all MIP Awards not previously settled pursuant to Section 11(e), shall terminate and be forfeited. In the event of the termination of a Participant’s employment by a
Participant without Good Reason all unvested MIP Awards shall terminate and vested MIP Awards shall be settled in accordance with the applicable provisions of Section 11(e). 

12. Changes in Capital Structure and Similar Events. In the event of (a) any dividend (other than regular cash
dividend) or other distribution (whether in the form of cash, shares of Common Stock, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation,
split-up, split-off, combination, repurchase or exchange of shares of Common Stock or other 

 
securities of the Company, issuance of warrants or other rights to acquire shares of Common Stock or other securities of the Company, or other similar corporate transaction or event (including,
without limitation, a Change in Control) that affects the shares of Common Stock, or (b) unusual or nonrecurring events (including, without limitation, a Change in Control) affecting any member of the Company Group, or the financial statements
of any member of the Company Group, or changes in applicable rules, rulings, regulations or other requirements of any governmental body or securities exchange or inter-dealer quotation system, accounting principles or law, such that in either case
an adjustment is determined by the Committee in its sole discretion to be necessary or appropriate, then the Committee shall make any such adjustments in such manner as it may deem equitable, including without limitation any or all of the following:

 (i) adjusting (A) any or all of the limits provided under the Plan (including under Section 5 of Plan) with respect to the
number of Awards which may be granted hereunder, (B) the number of shares of Common Stock or other securities of the Company (or number and kind of other securities or other property) that may be delivered in respect of Awards or with respect
to which Awards may be granted under the Plan (including, without limitation, adjusting any or all of the limitations under Section 5 of the Plan) or any Sub-Plan and (C) the terms of any outstanding
Award, including, without limitation, (1) the number of shares of Common Stock or other securities of the Company (or number and kind of other securities or other property) subject to outstanding Awards or to which outstanding Awards relate,
(2) the Exercise Price or Strike Price with respect to any Award or (3) any applicable performance; provided, that, any adjustment under this Section 12(i) shall be conclusive and binding for all purposes and may provide
for the elimination of any fractional shares that might otherwise become subject to an Award. 
 (ii) providing for a substitution or
assumption of Awards (or awards of an acquiring company), accelerating the exercisability of, lapse of restrictions on, or termination of, Awards or providing for a period of time for exercise prior to the occurrence of such event; and 

(iii) subject to any limitations or reductions as may be necessary to comply with Section 409A of the Code, cancelling any one or more
outstanding Awards and causing to be paid to the holders thereof, in cash, shares of Common Stock, other securities or other property, or any combination thereof, the value of such Awards, if any, as determined by the Committee (which if applicable
may be based upon the price per share of Common Stock received or to be received by other stockholders of the Company in such event), including without limitation, in the case of an outstanding Option or SAR, a cash payment in an amount equal to the
excess, if any, of the Fair Market Value (as of a date specified by the Committee) of the shares of Common Stock subject to such Option or SAR over the aggregate Exercise Price or Strike Price of such Option or SAR, respectively (it being understood
that, in such event, any Option or SAR having a per share Exercise Price or Strike Price equal to, or in excess of, the Fair Market Value of a share of Common Stock subject thereto may be canceled and terminated without any payment or consideration
therefor) or, in the case of Restricted Stock, Restricted Stock Units or Other Stock-Based Awards that are not vested as of such cancellation, a cash payment or equity subject to deferred vesting and delivery consistent with the vesting restrictions
applicable to such Restricted Stock, Restricted Stock Units or Other Stock-Based Awards prior to cancellation, or the underlying shares in respect thereof; 

provided, however, that in the case of any “equity restructuring” (within the meaning of the Financial Accounting Standards Board
Statement of Financial Accounting Standards No. 123 (revised 2004)), the Committee shall make an equitable or proportionate adjustment to outstanding Awards to reflect such equity restructuring. Any adjustment in Incentive Stock Options under
this Section 12 (other than any cancellation of Incentive Stock Options) shall be made only to the extent not constituting a “modification” within the meaning of Section 424(h)(3) of the Code, and any adjustments under this
Section 12 shall be made in a manner that does not adversely affect the exemption provided pursuant to Rule 16b-3 under the Exchange Act, to the extent applicable. The Company shall give each Participant
notice of an adjustment hereunder and, upon notice, such adjustment shall be conclusive and binding for all purposes. 

 Prior to any payment or adjustment contemplated under this Section 12, the Committee may require a
Participant to (A) represent and warrant as to the unencumbered title to the Participant’s Awards, (B) bear such Participant’s pro rata share of any post-closing indemnity obligations, and be subject to the same post-closing
purchase price adjustments, escrow terms, offset rights, holdback terms, and similar conditions as the other holders of Common Stock, subject to any limitations or reductions as may be necessary to comply with Section 409A of the Code, and
(C) deliver customary transfer documentation as reasonably determined by the Committee. 
 13. Effect of Change in
Control. Except to the extent otherwise provided in an Award Agreement, an Employment Agreement or otherwise by the Committee or with respect to a MIP Award, in the event of a Change in Control, notwithstanding any provision of the
Plan to the contrary, the Committee may provide that, with respect to all or any portion of a particular outstanding Award or Awards: 
 (a)
then outstanding Options and SARs shall become immediately exercisable as of a time prior to the Change in Control; 
 (b) Restricted Period
shall expire as of a time prior to the Change in Control; and 
 (c) cause Awards previously deferred to be settled in full as soon as
practicable. 
 To the extent practicable, any actions taken by the Committee under the immediately preceding clauses (a) through (c) shall occur in a
manner and at a time which allows affected Participants the ability to participate in the Change in Control transactions with respect to the Common Stock subject to their Awards. 

14. Amendments and Termination. (a) Amendment and Termination of the Plan. The Board may amend, alter,
suspend, discontinue, or terminate the Plan or any portion thereof at any time; provided, that (i) no amendment to Section 14(b) (to the extent required by the proviso in such Section 14(b)) shall be made without
stockholder approval and (ii) no such amendment, alteration, suspension, discontinuation or termination shall be made without stockholder approval if such approval is necessary to comply with any tax or regulatory requirement applicable to the
Plan (including, without limitation, as necessary to comply with any rules or requirements of any securities exchange or inter-dealer quotation system on which the shares of Common Stock may be listed or quoted); provided, further,
that any such amendment, alteration, suspension, discontinuance or termination that would materially and adversely affect the rights of any Participant or any holder or beneficiary of any Award theretofore granted shall not to that extent be
effective without the consent of the affected Participant, holder or beneficiary. 
 (b) Amendment of Award Agreements. The Committee may, to
the extent consistent with the terms of any applicable Award Agreement, waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate, any Award theretofore granted or the associated Award Agreement,
prospectively or retroactively; provided, that, any such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination that would materially and adversely affect the rights of any Participant with respect to
any Award theretofore granted shall not to that extent be effective without the consent of the affected Participant; provided, further, that without stockholder approval to the extent required by the rules of any applicable national
securities exchange or inter-dealer quotation system on which the Common Stock is listed or quoted, except as otherwise permitted under Section 12 of the Plan, (i) no amendment or modification may reduce the Exercise Price of any Option or
the Strike Price of any SAR, (ii) the Committee may not cancel any outstanding Option or SAR and replace it with a new Option or SAR, another Award or cash and (iii) the Committee may not take any other action that is considered a
“repricing” for purposes of the stockholder approval rules of the applicable securities exchange or inter-dealer quotation system. 

 15. Section 409A. (a) Notwithstanding anything
herein to the contrary, this Plan and any Awards granted hereunder are intended to be interpreted and applied so that the payments and benefits set forth thereunder either shall either be exempt from the requirements of Code Section 409A and
the final Treasury Regulations promulgated thereunder (the “Final Treasury Regulations” and together with Section 409A of the Code, “Section 409A”), or shall comply with the requirements of Section 409A, and,
accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be exempt from or in compliance with Section 409A. To the extent that the Company determines that any provision of this Plan or any Award granted
hereunder would cause a participant to incur any additional tax or interest under Section 409A, the Company shall be entitled to reform such provision to attempt to comply with or be exempt from Section 409A through good faith
modifications. To the extent that any provision hereof is modified in order to comply with Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original intent and
economic benefit to the Participant and the Company without violating the provisions of Section 409A. In no event may a Participant, directly or indirectly, designate the calendar year of any payment to be made under this Agreement or otherwise
which constitutes a “deferral of compensation” within the meaning of Section 409A. 
 (b) Except as otherwise specifically provided, amounts
payable under an Award, other than those expressly payable on a deferred or installment basis, will be paid as promptly as practicable following the date they are earned and vested and, in any event, on or prior to March 15 of the year
following the first calendar year in which such amounts are no longer subject to a substantial risk of forfeiture, as such term is defined in Section 409A. 

(c) Notwithstanding anything in this Plan or any Award Agreement to the contrary, a termination of employment shall not be deemed to have occurred for
purposes of any provision any Award providing for the payment of any amounts or benefits that constitute “non-qualified deferred compensation” within the meaning of Section 409A upon or
following a termination of a Participant’s employment unless such termination is also a “separation from service” within the meaning of Section 409A and, for purposes of any such provision of this Plan or any Award Agreement,
references to a “termination,” “termination of employment” or like terms shall mean “separation from service” and the date of such separation from service shall be the date of termination for purposes of any such
payment or benefits. 
 (d) Each payment in a series of payments made under this Plan and any Awards granted hereunder shall be deemed to be a separate
payment for purposes of Section 409A. 
 (e) Notwithstanding any provision in this Plan or any Award Agreement to the contrary, if upon a termination
employment a Participant is deemed to be a “specified employee” within the meaning of Section 409A using the identification methodology selected by the Company from time to time, or if none, the default methodology under
Section 409A, any payments or benefits due upon a termination of Executive’s employment under any arrangement that constitutes a “deferral of compensation” within the meaning of Section 409A shall be delayed and paid or
provided (or commence, in the case of installments) on the first payroll date on or following the earlier of (i) the date which is six (6) months and one (1) day after Employee’s termination of employment for any reason other
than death (the “Delayed Payment Date”), and (ii) the date of Executive’s death, and any remaining payments and benefits shall be paid or provided in accordance with the normal payment dates specified for such payment or benefit;
provided, that, payments or benefits that qualify as short-term deferral (within the meaning of Section 409A and Final Treasury Regulations Section 1.409A-1(b)(4)) or involuntary separation pay
(within the meaning of Section 409A and Final Treasury Regulations Section 1.409A-1(b)(9)(iii)(A)) and are otherwise permissible under Section 409A and the Final Treasury Regulations, shall not
be subject to such six-month delay. On the Delayed Payment Date, the Company will pay to Employee a lump sum equal to all amounts that would 

 
have been paid during the period of the delay if the delay were not required plus interest on such amount at a rate equal to the short-term applicable federal rate then in effect, and will
thereafter continue to pay Employee the Severance Payment in installments in accordance with this Section. 
 (f) Neither a Participant nor any of a
Participant’s creditors or beneficiaries will have the right to subject any deferred compensation (within the meaning of Section 409A) payable under this Plan and grants hereunder to any anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance, attachment or garnishment. Except as permitted under Section 409A, any deferred compensation payable to a Participant or for a Participant’s benefit under this Plan and grants hereunder may not be reduced
by, or offset against, any amount owing by a Participant to the any member of Company Group. 
 (g) No member of the Company Group, nor any employee,
director or officer thereof guarantees that this Plan or any Award granted hereunder complies with, or is exempt from, Section 409A and none of the foregoing shall have any liability with respect to any failure to so comply or to be so exempt.

 16. General. (a) Award Agreements. Other than Cash-Based Awards, each Award under the Plan shall be
evidenced by an Award Agreement, which shall be delivered to the Participant (whether in paper or electronic medium (including email or the posting on a web site maintained by the Company or a third party under contract with the Company)) and shall
specify the terms and conditions of the Award any rules applicable thereto, including without limitation, the effect on such Award of the death, disability or termination of employment or service of a Participant, or of such other events as may be
determined by the Committee. 
 (b) Nontransferability. (i) Each Award shall be exercisable only by a Participant during the
Participant’s lifetime, or, if permissible under applicable law, by the Participant’s legal guardian or representative. No Award may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Participant
other than by will or by the laws of descent and distribution and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against any member of the Company Group; provided,
that, the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance. 
 (ii)
Notwithstanding the foregoing, the Committee may, in its sole discretion, permit Awards (other than Incentive Stock Options) to be transferred by a Participant, without consideration, subject to such rules as the Committee may adopt consistent with
any applicable Award Agreement to preserve the purposes of the Plan, to: (A) any person who is a “family member” of the Participant, as such term is used in the instructions to Form S-8 under
the Securities Act (collectively, the “Immediate Family Members”); (B) a trust solely for the benefit of the Participant and his or her Immediate Family Members; or (C) a partnership or limited liability company whose only
partners or stockholders are the Participant and his or her Immediate Family Members; or (D) any other transferee as may be approved either (I) by the Board or the Committee in its sole discretion, or (II) as provided in the
applicable Award Agreement (each transferee described in clauses (A), (B) (C) and (D) above is hereinafter referred to as a “Permitted Transferee”); provided, that, the Participant gives the Committee advance
written notice describing the terms and conditions of the proposed transfer and the Committee notifies the Participant in writing that such a transfer would comply with the requirements of the Plan. 

(iii) The terms of any Award transferred in accordance with the immediately preceding sentence shall apply to the Permitted Transferee and any reference in
the Plan, or in any applicable Award Agreement, to a Participant shall be deemed to refer to the Permitted Transferee, except that (A) Permitted Transferees shall not be entitled to transfer any Award, other than by will or the laws of descent
and distribution; (B) Permitted Transferees shall not be entitled to exercise any transferred Option unless there shall be in effect a registration statement on an appropriate form covering the shares of Common Stock to be acquired

 
pursuant to the exercise of such Option if the Committee determines, consistent with any applicable Award Agreement, that such a registration statement is necessary or appropriate; (C) the
Committee or the Company shall not be required to provide any notice to a Permitted Transferee, whether or not such notice is or would otherwise have been required to be given to the Participant under the Plan or otherwise; and (D) the
consequences of the termination of the Participant’s employment by, or services to, any member of the Company Group under the terms of the Plan and the applicable Award Agreement shall continue to be applied with respect to the Participant,
including, without limitation, that an Option shall be exercisable by the Permitted Transferee only to the extent, and for the periods, specified in the Plan and the applicable Award Agreement. 

(c) Tax Withholding. (i) A Participant shall be required to pay to any member of the Company Group, and any member of the Company Group
shall have the right and is hereby authorized to withhold, from any cash, shares of Common Stock, other securities or other property deliverable under any Award or from any compensation or other amounts owing to a Participant, the amount (in cash,
Common Stock, other securities or other property) of any required withholding or any other applicable taxes in respect of an Award, its exercise, or any payment or transfer under an Award or under the Plan and to take such other action as may be
necessary in the opinion of the Committee or the Company to satisfy all obligations for the payment of such withholding and taxes. 
 (ii) Without limiting
the generality of clause (i) above, the Committee may, in its sole discretion, permit a Participant to satisfy, in whole or in part, the foregoing withholding liability by (A) the delivery of shares of Common Stock (which are not subject
to any pledge or other security interest and are Mature Shares) owned by the Participant having a Fair Market Value equal to such withholding liability or (B) having the Company withhold from the number of shares of Common Stock otherwise
issuable or deliverable pursuant to the exercise or settlement of the Award a number of shares with a Fair Market Value equal to such withholding liability; provided, that, with respect to shares withheld pursuant to clause (B), the
number of such shares may not have a Fair Market Value greater than the minimum required statutory withholding liability unless determined by the Committee not to result in adverse accounting consequences. 

(d) No Claim to Awards; No Rights to Continued Employment; Waiver. No employee of any member of the Company Group, or other person, shall have
any claim or right to be granted an Award under the Plan or, having been selected for the grant of an Award, to be selected for a grant of any other Award. There is no obligation for uniformity of treatment of Participants or holders or
beneficiaries of Awards. The terms and conditions of Awards and the Committee’s determinations and interpretations with respect thereto need not be the same with respect to each Participant and may be made selectively among Participants,
whether or not such Participants are similarly situated. Neither the Plan nor any action taken hereunder shall be construed as giving any Participant any right to be retained in the employ or service of any member of the Company Group, nor shall it
be construed as giving any Participant any rights to continued service on the Board. Any member of the Company Group may at any time dismiss a Participant from employment or discontinue any consulting relationship, free from any liability or any
claim under the Plan, unless otherwise expressly provided in the Plan or any Award Agreement. 
 (e) Participants. With respect to
Participants who reside or work outside of the United States of America, the Committee may in its sole discretion amend the terms of the Plan and create or amend Sub-Plans or amend outstanding Awards with
respect to such Participants in order to conform such terms with the requirements of local law or to obtain more favorable tax or other treatment for a Participant or any member of the Company Group. 

(f) Designation and Change of Beneficiary. Each Participant may file with the Committee a written designation of one or more persons as the
beneficiary(ies) who shall be entitled to receive the amounts payable with respect to an Award, if any, due under the Plan upon his death. A Participant may, from time 

 
to time, revoke or change his or her beneficiary designation without the consent of any prior beneficiary by filing a new designation with the Committee. The last such designation received by the
Committee shall be controlling; provided, however, that no designation, or change or revocation thereof, shall be effective unless received by the Committee prior to the Participant’s death, and in no event shall it be effective
as of a date prior to such receipt. If no beneficiary designation is filed by a Participant, the beneficiary shall be deemed to be his or her spouse or, if the Participant is unmarried at the time of death, his or her estate. 

(g) Termination of Employment/Service. Unless determined otherwise by the Committee at any point following such event: (i) neither a
temporary absence from employment or service due to illness, vacation or leave of absence nor a transfer from employment or service with the Company to employment or service with an Affiliate (or vice-versa) shall be considered a termination of
employment or service with any member of the Company Group; and (ii) if a Participant’s employment with the Company Group terminates, but such Participant continues to provide services to the Company Group in a non-employee capacity (or vice-versa), such change in status shall not be considered a termination of employment with any member of the Company Group. 

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

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

(ii) The Committee may cancel an Award or any portion thereof if it determines, in its sole discretion, that legal or contractual restrictions and/or blockage
and/or other market considerations would make the Company’s acquisition of shares of Common Stock from the public markets, the Company’s issuance of Common Stock to the Participant, the Participant’s acquisition of Common Stock from
the Company and/or the Participant’s sale of Common Stock to the public markets, illegal, impracticable or inadvisable. If the Committee determines to cancel all or any portion of an Award in accordance with the foregoing, the Company shall pay
to the Participant an amount equal to the excess of (A) the aggregate Fair Market Value of the shares of Common Stock subject to such Award or portion thereof canceled (determined as of the 

 
applicable exercise date, or the date that the shares would have been vested or delivered, as applicable), over (B) the aggregate Exercise Price or Strike Price (in the case of an Option or
SAR, respectively) or any amount payable as a condition of delivery of shares of Common Stock (in the case of any other Award). Such amount shall be delivered to the Participant as soon as practicable following the cancellation of such Award or
portion thereof. 
 (j) Payments to Persons Other Than Participants. If the Committee shall find that any person to whom any amount is payable
under the Plan is unable to care for his or her affairs because of illness or accident, or is a minor, or has died, then any payment due to such person or his or her estate (unless a prior claim therefor has been made by a duly appointed legal
representative) may, if the Committee so directs the Company, be paid to his or her spouse, child, relative, an institution maintaining or having custody of such person, or any other person deemed by the Committee to be a proper recipient on behalf
of such person otherwise entitled to payment. Any such payment shall be a complete discharge of the liability of the Committee and the Company therefor. 

(k) Nonexclusivity of the Plan. Neither the adoption of this Plan by the Board nor the submission of this Plan to the stockholders of the
Company for approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including, without limitation, the granting of stock options otherwise than under this
Plan, and such arrangements may be either applicable generally or only in specific cases. 
 (l) No Trust or Fund Created. Neither the Plan
nor any Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between any member of the Company Group, on the one hand, and a Participant or other person or entity, on the other hand. No
provision of the Plan or any Award shall require the Company, for the purpose of satisfying any obligations under the Plan, to purchase assets or place any assets in a trust or other entity to which contributions are made or otherwise to segregate
any assets, nor shall the Company maintain separate bank accounts, books, records or other evidence of the existence of a segregated or separately maintained or administered fund for such purposes. Participants shall have no rights under the Plan
other than as unsecured general creditors of the Company, except that insofar as they may have become entitled to payment of additional compensation by performance of services, they shall have the same rights as other employees under general law.

 (m) Reliance on Reports. Each member of the Committee and each member of the Board shall be fully justified in acting or failing to act, as
the case may be, and shall not be liable for having so acted or failed to act in good faith, in reliance upon any report made by the independent public accountant of the Company Group and/or any other information furnished in connection with the
Plan by any agent of the Company or the Committee or the Board, other than himself or herself. 
 (n) Relationship to Other Benefits. No
payment under the Plan shall be taken into account in determining any benefits under any pension, retirement, profit sharing, group insurance or other benefit plan of the Company except as otherwise specifically provided in such other plan. 

(o) Governing Law. The Plan shall be governed by and construed in accordance with the internal laws of the State of Delaware applicable to
contracts made and performed wholly within the State of Delaware, without giving effect to the conflict of laws provisions thereof. 
 (p)
Severability. If any provision of the Plan or any Award or Award Agreement is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to any person or entity or Award, or would disqualify the Plan or
any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be construed or deemed amended without, in the determination of the Committee,
materially altering the intent of the Plan or the Award, such provision shall be construed or deemed stricken as to such jurisdiction, person or entity or Award and the remainder of the Plan and any such Award shall remain in full force and effect.

 (q) Obligations Binding on 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. 
 (r) Expenses; Gender; Titles and Headings. The expenses of administering the Plan shall be borne by the Company Group.
Masculine pronouns and other words of masculine gender shall refer to both men and women. 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. 
 (s) Other Agreements. Notwithstanding the above, the Committee may require, as a condition to the
grant of and/or the receipt of shares of Common Stock under an Award, that the Participant execute lock-up, stockholder or other agreements, as it may determine in its sole and absolute discretion. 

(t) Payments. Participants shall be required to pay, to the extent required by applicable law, any amounts required to receive shares of
Common Stock under any Award made under the Plan. 
 (u) Fractional Shares. Unless otherwise provided in an Award Agreement, an Employment
Agreement or otherwise by the Committee, any fractional shares due on exercise or payment in respect of an Award or MIP Award shall be settled in cash. 

(v) Detrimental Activity. Notwithstanding anything to the contrary contained herein or in any Award Agreement, if a Participant has engaged in
any Detrimental Activity, as determined by the Committee, the Committee may, in its sole discretion, provide for one or more of the following: 

(1) cancellation of any or all of such Participant’s outstanding Awards; or 

(2) forfeiture by the Participant of any gain realized on the vesting or exercise of Awards, and to repay any such gain to promptly to the
Company. 
 (w) Clawback/Repayment. All Awards shall be subject to reduction, cancellation, forfeiture or recoupment to the extent necessary
to comply with (1) any clawback, forfeiture or other similar policy adopted by the Board or the Committee and as in effect from time to time, and (2) applicable law, whether such policy or law becomes effective prior to or following the
Effective Date or the Date of Grant of an Award. Further, to the extent that the Participant receives any amount in excess of the amount that the Participant should otherwise have received under the terms of the Award for any reason (including,
without limitation, by reason of a financial restatement, mistake in calculations or other administrative error), the Participant shall be required to repay any such excess amount to the Company. By accepting an Award under the Plan, a Participant
shall thereby be deemed to have acknowledged and consented to the Company’s application, implementation and enforcement of any clawback, forfeiture or other similar policy adopted by the Board or the Committee, whether adopted prior to or
following the Date of Grant of the Award, and any provision of applicable law relating to reduction cancellation, forfeiture or recoupment, and to have agreed that the Company may take such actions as may be necessary to effectuate any such policy
or applicable law, without further consideration or action. 
 * * * 

As adopted by the Board of Directors, and approved by the shareholders, of SAExploration Holdings, Inc. on August 14, 2018.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00286-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00286-of-00352.parquet"}]]