Document:

EX-4.4

 Exhibit 4.4 

DESCRIPTION OF SECURITIES 

As of December 31, 2021, Dragoneer Growth Opportunity Corp. III (the “company” or “Company,” “we” or
“us”) had the following class of securities registered under Section 12 of the Securities Exchange Act of 1935, as amended (the “Exchange Act”): Class A ordinary shares, par value $0.0001 per share (the
“Class A ordinary shares”). In addition, this Description of Securities also references the company’s Class B ordinary shares, par value $0.0001 per share (the “Class B ordinary shares” or “founder
shares”), which are not registered pursuant to Section 12 of the Exchange Act but are convertible into Class A ordinary shares. The description of the Class B ordinary shares is included to assist in the description of the
Class A ordinary shares. Unless the context otherwise requires, references to our “sponsor” are to Dragoneer Growth Opportunities Holdings III, a Cayman Islands limited liability company, references to our “founders” are to
Marc Stad and Pat Robertson, references to our “management team” are to our executive officers and directors, references to our “initial shareholders” are to our sponsor and each of our independent directors and references to
“Dragoneer” are to Dragoneer Investment Group, LLC. 
 We are a Cayman Islands exempted company and our affairs are governed by
our amended and restated memorandum and articles of association, the Companies Act (As Revised) of the Cayman Islands (the “Companies Act”) and the common law of the Cayman Islands. Pursuant to our amended and restated memorandum and
articles of association, we are authorized to issue 200,000,000 Class A ordinary shares and 20,000,000 Class B ordinary shares, as well as 1,000,000 preference shares, $0.0001 par value each. The following description summarizes the
material terms of our shares as set out more particularly in our amended and restated memorandum and articles of association. Because it is only a summary, it may not contain all the information that is important to you. 

Ordinary Shares 
 Ordinary shareholders of
record are entitled to one vote for each share held on all matters to be voted on by shareholders. Except as described below, holders of Class A ordinary shares and holders of Class B ordinary shares will vote together as a single
class on all matters submitted to a vote of our shareholders except as required by law. Unless specified in our amended and restated memorandum and articles of association, or as required by applicable provisions of the Companies Act or applicable
stock exchange rules, the affirmative vote of a majority of our ordinary shares that are voted is required to approve any such matter voted on by our shareholders. Approval of certain actions will require a special resolution under Cayman Islands
law, being the affirmative vote of at least two-thirds of our ordinary shares that are voted, and pursuant to our amended and restated memorandum and articles of association; such actions include
amending our amended and restated memorandum and articles of association and approving a statutory merger or consolidation with another company. Our board of directors is divided into three classes, each of which will generally serve for a term of
three years with only one class of directors being appointed in each year. There is no cumulative voting with respect to the appointment of directors, with the result that the holders of more than 50% of the shares voted for the appointment of
directors can appoint all of the directors. Our shareholders are entitled to receive ratable dividends when, as and if declared by the board of directors out of funds legally available therefor. Prior to our initial business combination, only
holders of our founder shares will have the right to vote on the appointment of directors. Holders of our public shares will not be entitled to vote on the appointment of directors during such time. In addition, prior to the completion of an initial
business combination, holders of a majority of our founder shares may remove a member of the board of directors for any reason. In addition, in a vote to continue the company in a jurisdiction outside the Cayman Islands, only holders of our
Class B ordinary shares will have the right to vote. The provisions of our amended and restated memorandum and articles of association governing the appointment or removal of directors prior to our initial business combination and our
continuation in a jurisdiction outside the Cayman Islands prior to our initial business combination may only be amended by a special resolution passed by not less than two-thirds of our ordinary
shares who attend and vote at our general meeting which shall include the affirmative vote of a simple majority of our Class B ordinary shares. 

Because our amended and restated memorandum and articles of association authorize the issuance of up to 200,000,000 Class A ordinary
shares, if we were to enter into a business combination, we may (depending on the terms of such a business combination) be required to increase the number of Class A ordinary shares which we will be authorized to issue at the same time as our
shareholders vote on the business combination to the extent we seek shareholder approval in connection with our initial business combination. 

 Our board of directors is divided into three classes with only one class of directors being
appointed in each year and each class (except for those directors appointed prior to our first annual general meeting) serving a three-year term. In accordance with Nasdaq corporate governance requirements, we are not required to hold an annual
general meeting until one year after our first fiscal year end following our listing on Nasdaq. There is no requirement under the Companies Act for us to hold annual or general meetings to appoint directors. We may not hold an annual general meeting
to appoint new directors prior to the consummation of our initial business combination. Prior to the completion of an initial business combination, any vacancy on the board of directors may be filled by a nominee chosen by holders of a majority of
our founder shares. In addition, prior to the completion of an initial business combination, holders of a majority of our founder shares may remove a member of the board of directors for any reason. 

We will provide our public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of our
initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account calculated as of two business days prior to the
consummation of our initial business combination, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any, divided by the number of the then-outstanding public shares,
subject to the limitations described herein. The per share amount we will distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting commissions we will pay to the underwriters. The redemption rights
will include the requirement that a beneficial owner must identify itself in order to validly redeem its shares. Our sponsor and each member of our management team have entered into an agreement with us, pursuant to which they have agreed to waive
their redemption rights with respect to any founder shares and public shares held by them in connection with the completion of our initial business combination or certain amendments as described in this Description of Securities. Unlike many blank
check companies that hold shareholder votes and conduct proxy solicitations in conjunction with their initial business combinations and provide for related redemptions of public shares for cash upon completion of such initial business combinations
even when a vote is not required by law, if a shareholder vote is not required by applicable law or stock exchange listing requirements, and we decide not to hold a shareholder vote for business or other reasons, we will, pursuant to our amended and
restated memorandum and articles of association, conduct the redemptions pursuant to the tender offer rules of the SEC, and file tender offer documents with the SEC prior to completing our initial business combination. Our amended and restated
memorandum and articles of association require these tender offer documents to contain substantially the same financial and other information about the initial business combination and the redemption rights as is required under the SEC’s proxy
rules. If, however, a shareholder approval of the transaction is required by applicable law or stock exchange listing requirements, or we decide to obtain shareholder approval for business or other reasons, we will, like many blank check companies,
offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If we seek shareholder approval, we will complete our initial business combination only if we obtain the approval
of an ordinary resolution under Cayman Islands law, which requires the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the company. However, the participation of our sponsor, officers, directors,
advisors or their affiliates in privately-negotiated transactions, if any, could result in the approval of our initial business combination even if a majority of our public shareholders vote, or indicate their intention to vote, against such initial
business combination. For purposes of seeking approval of the majority of our issued and outstanding ordinary shares, non-votes will have no effect on the approval of our initial business combination
once a quorum is obtained. 
 If we seek shareholder approval of our initial business combination and we do not conduct redemptions in
connection with our initial business combination pursuant to the tender offer rules, our amended and restated memorandum and articles of association provide that a public shareholder, together with any affiliate of such shareholder or any other
person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Exchange Act), will be restricted from redeeming its shares with respect to more than an aggregate of 15% of the shares sold in
our initial public offering (“Excess Shares”), without our prior consent. However, we would not be restricting our shareholders’ ability to vote all of their shares (including Excess Shares) for or against our initial business
combination. Our shareholders’ inability to redeem the Excess Shares will reduce their influence over our ability to complete our initial business combination, and such shareholders could suffer a material loss in their investment if they sell
such Excess Shares on the open market. Additionally, such shareholders will not receive redemption distributions with respect to the Excess Shares if we complete our initial business combination. And, as a result, such shareholders will continue to
hold that number of shares exceeding 15% and, in order to dispose such shares would be required to sell their shares in open market transactions, potentially at a loss. 

If we seek shareholder approval, we will complete our initial business combination only if we obtain the approval of an ordinary resolution
under Cayman Islands law, which requires the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the company. In such case, our sponsor and each member of our management team have agreed to vote any founder
shares and public shares held by them in favor of our initial business combination. Additionally, each public shareholder may elect to redeem their public shares irrespective of whether they vote for or against the proposed transaction or vote at
all. 

 Pursuant to our amended and restated memorandum and articles of association, if we have not
consummated an initial business combination within 24 months (or 27 months, as applicable) from the closing of our initial public offering, we will (i) cease all operations except for the purpose of winding up; (ii) as promptly as
reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust
account, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any (less up to $100,000 of interest to pay dissolution expenses) divided by the number of the then-outstanding
public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such
redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in each case to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other
applicable law. Our sponsor and each member of our management team have entered into an agreement with us, pursuant to which they have agreed to waive their rights to liquidating distributions from the trust account with respect to any founder
shares they hold if we fail to consummate an initial business combination within 24 months (or 27 months, as applicable) from the closing of our initial public offering or during any extended time that we have to consummate a business combination
beyond 24 months as a result of a shareholder vote to amend our amended and restated memorandum and articles of association (an “Extension Period”) (although they will be entitled to liquidating distributions from the trust account
with respect to any public shares they hold if we fail to complete our initial business combination within the prescribed time frame). 

In the event of a liquidation, dissolution or winding up of the company after a business combination, our shareholders are entitled to share
ratably in all assets remaining available for distribution to them after payment of liabilities and after provision is made for each class of shares, if any, having preference over the ordinary shares. Our shareholders have no preemptive or other
subscription rights. There are no sinking fund provisions applicable to the ordinary shares, except that we will provide our public shareholders with the opportunity to redeem their public shares for cash at a per share price equal to the aggregate
amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any, divided by the number of the then-outstanding public shares, upon the
completion of our initial business combination, subject to the limitations described herein. 
 Founder Shares 

The founder shares are designated as Class B ordinary shares and, except as described below, are identical to the Class A ordinary
shares sold in our initial public offering, and holders of founder shares have the same shareholder rights as public shareholders, except that: (a) prior to our initial business combination, only holders of the founder shares have the right to
vote on the appointment of directors and holders of a majority of our founder shares may remove a member of the board of directors for any reason; (b) the founder shares are subject to certain transfer restrictions, as described in more detail
below; (c) in a vote to continue the company in a jurisdiction outside the Cayman Islands, only holders of our Class B ordinary shares will have the right to vote; (d) our sponsor and each member of our management team have entered
into an agreement with us, pursuant to which they have agreed to (i) waive their redemption rights with respect to their founder shares (ii) waive their redemption rights with respect to their founder shares and public shares in connection
with a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association (A) that would modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the right
to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within 24 months (or 27 months, as applicable) from the closing of our
initial public offering or (B) with respect to any other provision relating to the rights of holders of our Class A ordinary shares; and (iii) waive their rights to liquidating distributions from the trust account with respect to any
founder shares they hold if we fail to consummate an initial business combination within 24 months (or 27 months, as applicable) from the closing of our initial public offering or during any Extension Period (although they will be entitled to
liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination within the prescribed time frame); (e) the founder shares will automatically convert into our
Class A ordinary shares at the time of our initial business combination or earlier at the option of the holders thereof as described herein; and (f) the founder shares are entitled to registration rights. If we seek shareholder approval,
we will complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman Islands law, which requires the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of
the company. In such case, our sponsor and each member of our management team have agreed to vote any founder shares and public shares held by them in favor of our initial business combination. 

The founder shares are designated as Class B ordinary shares and will automatically convert into Class A ordinary shares (which such
Class A ordinary shares delivered upon conversion will not have redemption rights or be entitled to liquidating distributions from the trust account if we do not consummate an initial business combination) at the time of our initial business
combination or earlier at the option of the holders thereof at a ratio such that the number of Class A ordinary shares issuable upon conversion of all founder shares will equal, in the aggregate, on
an as-converted basis, 20% of the sum of (i) the total number of ordinary shares issued and outstanding upon completion of our initial public offering, plus (ii) the total number of
Class A ordinary shares issued or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or deemed issued, by the Company in connection with or in relation to the consummation of the initial
business combination, excluding any forward purchase shares and any Class A ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, deemed issued, or to be issued, to any seller in
the initial business combination and any private placement warrants issued to our sponsor, its affiliates or any member of our management team, including upon conversion of working capital loans. In no event will the Class B ordinary shares
convert into Class A ordinary shares at a rate of less than one-to-one. 

 Except as described herein, our sponsor and our directors and executive officers have agreed
not to transfer, assign or sell any of their founder shares until earliest of (A) one year after the completion of our initial business combination and (B) subsequent to our initial business combination, (x) if the closing price of
our Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading
days within any 30-trading day period commencing at least 120 days after our initial business combination, or (y) the date on which we complete a liquidation, merger, share exchange or other similar transaction that results in all of
our public shareholders having the right to exchange their ordinary shares for cash, securities or other property. Any permitted transferees would be subject to the same restrictions and other agreements of our sponsor and our directors and
executive officers with respect to any founder shares. 
 Prior to our initial business combination, only holders of our founder shares will
have the right to vote on the appointment of directors. Holders of our public shares will not be entitled to vote on the appointment of directors during such time. In addition, prior to the completion of an initial business combination, holders of a
majority of our founder shares may remove a member of the board of directors for any reason. These provisions of our amended and restated memorandum and articles of association may only be amended by a special resolution passed by not less than two-thirds of our ordinary shares who attend and vote at our general meeting which shall include the affirmative vote of a simple majority of our Class B ordinary shares. With respect to any
other matter submitted to a vote of our shareholders, including any vote in connection with our initial business combination, except as required by law, holders of our founder shares and holders of our public shares will vote together as a single
class, with each share entitling the holder to one vote. 
 Register of Members 

Under Cayman Islands law, we must keep a register of members and there will be entered therein: 

 

	 	•	 	 the names and addresses of the members, a statement of the shares held by each member, and of the amount paid or
agreed to be considered as paid, on the shares of each member and the voting rights of shares of each member; 

  

	 	•	 	 whether voting rights are attached to the share in issue; 

 

	 	•	 	 the date on which the name of any person was entered on the register as a member; and 

 

	 	•	 	 the date on which any person ceased to be a member. 

Under Cayman Islands law, the register of members of our company is prima facie evidence of the matters set out therein (i.e., the register of
members will raise a presumption of fact on the matters referred to above unless rebutted) and a member registered in the register of members will be deemed as a matter of Cayman Islands law to have legal title to the shares as set against its name
in the register of members. Upon the closing of our initial public offering, the register of members was immediately updated to reflect the issue of shares by us, and, the shareholders recorded in the register of members will be deemed to have legal
title to the shares set against their name. However, there are certain limited circumstances where an application may be made to a Cayman Islands court for a determination on whether the register of members reflects the correct legal position.
Further, the Cayman Islands court has the power to order that the register of members maintained by a company should be rectified where it considers that the register of members does not reflect the correct legal position. If an application for an
order for rectification of the register of members were made in respect of our ordinary shares, then the validity of such shares may be subject to re-examination by a Cayman Islands court. 

Dividends 
 We have not paid any cash
dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of our initial business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any,
capital requirements and general financial condition subsequent to completion of our initial business combination. The payment of any cash dividends subsequent to our initial business combination will be within the discretion of our board of
directors at such time. If we incur any indebtedness in connection with a business combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith. 

Our Transfer Agent 
 The transfer agent
for our ordinary shares is Continental Stock Transfer & Trust Company. We have agreed to indemnify Continental Stock Transfer & Trust Company in its roles as transfer agent, its agents and each of its shareholders, directors,
officers and employees against all claims and losses that may arise out of acts performed or omitted for its activities in that capacity, except for any claims and losses due to any gross negligence or intentional misconduct of the indemnified
person or entity. 
 Certain Differences in Corporate Law 

Cayman Islands companies are governed by the Companies Act. The Companies Act is modeled on English Law but does not follow recent English Law
statutory enactments, and differs from laws applicable to United States corporations and their shareholders. Set forth below is a summary of the material differences between the provisions of the Companies Act applicable to us and the laws
applicable to companies incorporated in the United States and their shareholders. 

 Mergers and Similar Arrangements. In certain circumstances, the Companies Act
allows for mergers or consolidations between two Cayman Islands companies, or between a Cayman Islands exempted company and a company incorporated in another jurisdiction (provided that is facilitated by the laws of that other jurisdiction).

 Where the merger or consolidation is between two Cayman Islands companies, the directors of each company must approve a written plan of
merger or consolidation containing certain prescribed information. That plan or merger or consolidation must then be authorized by either (a) a special resolution (usually a majority of 66 2/3% in value of the voting shares voted at a general
meeting) of the shareholders of each company; or (b) such other authorization, if any, as may be specified in such constituent company’s articles of association. No shareholder resolution is required for a merger between a parent
company (i.e., a company that owns at least 90% of the issued shares of each class in a subsidiary company) and its subsidiary company. The consent of each holder of a fixed or floating security interest of a constituent company must be obtained,
unless the court waives such requirement. If the Cayman Islands Registrar of Companies is satisfied that the requirements of the Companies Act (which includes certain other formalities) have been complied with, the Registrar of Companies will
register the plan of merger or consolidation. 
 Where the merger or consolidation involves a foreign company, the procedure is similar, save
that with respect to the foreign company, the directors of the Cayman Islands exempted company are required to make a declaration to the effect that, having made due enquiry, they are of the opinion that the requirements set out below have been met:
(i) that the merger or consolidation is permitted or not prohibited by the constitutional documents of the foreign company and by the laws of the jurisdiction in which the foreign company is incorporated, and that those laws and any
requirements of those constitutional documents have been or will be complied with; (ii) that no petition or other similar proceeding has been filed and remains outstanding or order made or resolution adopted to wind up or liquidate the foreign
company in any jurisdictions; (iii) that no receiver, trustee, administrator or other similar person has been appointed in any jurisdiction and is acting in respect of the foreign company, its affairs or its property or any part thereof; and
(iv) that no scheme, order, compromise or other similar arrangement has been entered into or made in any jurisdiction whereby the rights of creditors of the foreign company are and continue to be suspended or restricted. 

Where the surviving company is the Cayman Islands exempted company, the directors of the Cayman Islands exempted company are further required
to make a declaration to the effect that, having made due enquiry, they are of the opinion that the requirements set out below have been met: (i) that the foreign company is able to pay its debts as they fall due and that the merger or
consolidated is bona fide and not intended to defraud unsecured creditors of the foreign company; (ii) that in respect of the transfer of any security interest granted by the foreign company to the surviving or consolidated company
(a) consent or approval to the transfer has been obtained, released or waived; (b) the transfer is permitted by and has been approved in accordance with the constitutional documents of the foreign company; and (c) the laws of the
jurisdiction of the foreign company with respect to the transfer have been or will be complied with; (iii) that the foreign company will, upon the merger or consolidation becoming effective, cease to be incorporated, registered or exist under
the laws of the relevant foreign jurisdiction; and (iv) that there is no other reason why it would be against the public interest to permit the merger or consolidation. 

Where the above procedures are adopted, the Companies Act provides for a right of dissenting shareholders to be paid a payment of the fair
value of his shares upon their dissenting to the merger or consolidation if they follow a prescribed procedure. In essence, that procedure is as follows: (a) the shareholder must give his written objection to the merger or consolidation to the
constituent company before the vote on the merger or consolidation, including a statement that the shareholder proposes to demand payment for his shares if the merger or consolidation is authorized by the vote; (b) within 20 days following the
date on which the merger or consolidation is approved by the shareholders, the constituent company must give written notice to each shareholder who made a written objection; (c) a shareholder must within 20 days following receipt of such notice
from the constituent company, give the constituent company a written notice of his intention to dissent including, among other details, a demand for payment of the fair value of his shares; (d) within seven days following the date of the
expiration of the period set out in paragraph (b) above or seven days following the date on which the plan of merger or consolidation is filed, whichever is later, the constituent company, the surviving company or the consolidated company must
make a written offer to each dissenting shareholder to purchase his shares at a price that the company determines is the fair value and if the company and the shareholder agree the price within 30 days following the date on which the offer was made,
the company must pay the shareholder such amount; and (e) if the company and the shareholder fail to agree a price within such 30 day period, within 20 days following the date on which such 30 day period expires, the company (and any dissenting
shareholder) must file a petition with the Cayman Islands Grand Court to determine the fair value and such petition must be accompanied by a list of the names and addresses of the dissenting shareholders with whom agreements as to the fair value of
their shares have not been reached by the company. At the hearing of that petition, the court has the power to determine the fair value of the shares together with a fair rate of interest, if any, to be paid by the company upon the amount determined
to be the fair value. Any dissenting shareholder whose name appears on the list filed by the company may participate fully in all proceedings until the determination of fair value is reached. These rights of a dissenting shareholder are not
available in certain circumstances, for example, to dissenters holding shares of any class in respect of which an open market exists on a recognized stock exchange or recognized interdealer quotation system at the relevant date or where the
consideration for such shares to be contributed are shares of any company listed on a national securities exchange or shares of the surviving or consolidated company. 

 Moreover, Cayman Islands law has separate statutory provisions that facilitate the
reconstruction or amalgamation of companies in certain circumstances, schemes of arrangement will generally be more suited for complex mergers or other transactions involving widely held companies, commonly referred to in the Cayman Islands as a
“scheme of arrangement” which may be tantamount to a merger. In the event that a merger was sought pursuant to a scheme of arrangement (the procedures for which are more rigorous and take longer to complete than the procedures typically
required to consummate a merger in the United States), the arrangement in question must be approved by a majority in number of each class of shareholders and creditors with whom the arrangement is to be made and who must in addition represent
three-fourths in value of each such class of shareholders or creditors, as the case may be, that are present and voting either in person or by proxy at a meeting, or meeting summoned for that purpose. The convening of the meetings and subsequently
the terms of the arrangement must be sanctioned by the Grand Court of the Cayman Islands. While a dissenting shareholder would have the right to express to the court the view that the transaction should not be approved, the court can be expected to
approve the arrangement if it satisfies itself that: 
  

	 	•	 	 we are not proposing to act illegally or beyond the scope of our corporate authority and the statutory provisions
as to majority vote have been complied with; 

  

	 	•	 	 the shareholders have been fairly represented at the meeting in question; 

 

	 	•	 	 the arrangement is such as a businessman would reasonably approve; and 

 

	 	•	 	 the arrangement is not one that would more properly be sanctioned under some other provision of the Companies Act
or that would amount to a “fraud on the minority.” 

 If a scheme of arrangement or takeover offer (as described
below) is approved, any dissenting shareholder would have no rights comparable to appraisal rights (providing rights to receive payment in cash for the judicially determined value of the shares), which would otherwise ordinarily be available to
dissenting shareholders of United States corporations. 

Squeeze-out Provisions. When a takeover offer is made and
accepted by holders of 90% of the shares to whom the offer relates within four months, the offeror may, within a two-month period, require the holders of the remaining shares to transfer such shares
on the terms of the offer. An objection can be made to the Grand Court of the Cayman Islands, but this is unlikely to succeed unless there is evidence of fraud, bad faith, collusion or inequitable treatment of the shareholders. 

Further, transactions similar to a merger, reconstruction and/or an amalgamation may in some circumstances be achieved through means other than
these statutory provisions, such as a share capital exchange, asset acquisition or control, or through contractual arrangements of an operating business. 

Shareholders’ Suits. Maples and Calder, our Cayman Islands legal counsel, is not aware of any reported class action
having been brought in a Cayman Islands court. 
 Derivative actions have been brought in the Cayman Islands courts, and the Cayman Islands
courts have confirmed the availability for such actions. In most cases, we will be the proper plaintiff in any claim based on a breach of duty owed to us, and a claim against (for example) our officers or directors usually may not be brought by a
shareholder. However, based both on Cayman Islands authorities and on English authorities, which would in all likelihood be of persuasive authority and be applied by a court in the Cayman Islands, exceptions to the foregoing principle apply in
circumstances in which: 
  

	 	•	 	 a company is acting, or proposing to act, illegally or beyond the scope of its authority; 

 

	 	•	 	 the act complained of, although not beyond the scope of the authority, could be effected if duly authorized by
more than the number of votes which have actually been obtained; or 

  

	 	•	 	 those who control the company are perpetrating a “fraud on the minority.” 

A shareholder may have a direct right of action against us where the individual rights of that shareholder have been infringed or are about to
be infringed. 
 Enforcement of Civil Liabilities. The Cayman Islands has a different body of securities laws as compared
to the United States and provides less protection to investors. Additionally, Cayman Islands companies may not have standing to sue before the Federal courts of the United States. 

We have been advised by Maples and Calder, our Cayman Islands legal counsel, that the courts of the Cayman Islands are unlikely (i) to
recognize or enforce against us judgments of courts of the United States predicated upon the civil liability provisions of the federal securities laws of the United States or any state; and (ii) in original actions brought in the Cayman
Islands, to impose liabilities against us predicated upon the civil liability provisions of the federal securities laws of the United States or any state, so far as the liabilities imposed by those provisions are penal in nature. In those
circumstances, although there is no statutory enforcement in the Cayman Islands of judgments obtained in the United States, the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a foreign court of competent
jurisdiction without retrial on the merits based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For a
foreign judgment to be enforced in the Cayman Islands, such judgment must be final and conclusive and for a liquidated sum, and must not be in respect of taxes or a fine or penalty, inconsistent with a Cayman Islands judgment in respect of the same
matter, impeachable on the grounds of fraud or obtained in a manner, and or be of a kind the enforcement of which is, contrary to natural justice or the public policy of the Cayman Islands (awards of punitive or multiple damages may well be held to
be contrary to public policy). A Cayman Islands Court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere. 

 Special Considerations for Exempted Companies. We are an exempted company
with limited liability under the Companies Act. The Companies Act distinguishes between ordinary resident companies and exempted companies. Any company that is registered in the Cayman Islands but conducts business mainly outside of the Cayman
Islands may apply to be registered as an exempted company. The requirements for an exempted company are essentially the same as for an ordinary company except for the exemptions and privileges listed below: 

 

	 	•	 	 an exempted company does not have to file an annual return on its shareholders with the Registrar of Companies;

  

	 	•	 	 an exempted company’s register of members is not open to inspection; 

 

	 	•	 	 an exempted company does not have to hold an annual general meeting; 

 

	 	•	 	 an exempted company may issue shares with no par value; 

 

	 	•	 	 an exempted company may obtain an undertaking against the imposition of any future taxation (such undertakings
are usually given for 20 years in the first instance); 

  

	 	•	 	 an exempted company may register by way of continuation in another jurisdiction and be deregistered in the Cayman
Islands; 

  

	 	•	 	 an exempted company may register as a limited duration company; and 

 

	 	•	 	 an exempted company may register as a segregated portfolio company. 

“Limited liability” means that the liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of
the company (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstances in which a court may be prepared to pierce or lift the corporate veil).

 Amended and Restated Memorandum and Articles of Association 

Our amended and restated memorandum and articles of association contain provisions designed to provide certain rights and protections that will
apply to us until the completion of our initial business combination. These provisions cannot be amended without a special resolution under Cayman Islands law. As a matter of Cayman Islands law, a resolution is deemed to be a special resolution
where it has been approved by either (i) the affirmative vote of at least two-thirds (or any higher threshold specified in a company’s articles of association) of a company’s
shareholders entitled to vote and so voting at a general meeting for which notice specifying the intention to propose the resolution as a special resolution has been given; or (ii) if so authorized by a company’s articles of association,
by a unanimous written resolution of all of the company’s shareholders. Other than as described above, our amended and restated memorandum and articles of association provide that special resolutions must be approved either by at least two-thirds of our shareholders who attend and vote at a general meeting of the company (i.e., the lowest threshold permissible under Cayman Islands law), or by a unanimous written resolution of all
of our shareholders. 
 Our initial shareholders and their permitted transferees, if any, will participate in any vote to amend our amended
and restated memorandum and articles of association and will have the discretion to vote in any manner they choose. Specifically, our amended and restated memorandum and articles of association provide, among other things, that: 

 

	 	•	 	 If we have not consummated an initial business combination within 24 months (or 27 months, as applicable) from
the closing of our initial public offering, we will (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but no more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to
pay our income taxes that were paid by us or are payable by us, if any (less up to $100,000 of interest to pay dissolution expenses) divided by the number of the then-outstanding public shares, which redemption will completely extinguish public
shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders
and our board of directors, liquidate and dissolve, subject in each case to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law; 

 

	 	•	 	 Prior to or in connection with our initial business combination, we may not issue additional securities that
would entitle the holders thereof to (i) receive funds from the trust account or (ii) vote as a class with our public shares (a) on our initial business combination or on any other proposal presented to shareholders prior to or in
connection with the completion of an initial business combination or (b) to approve an amendment to our amended and restated memorandum and articles of association to (x) extend the time we have to consummate a business combination beyond
24 months (or 27 months, as applicable) from the closing of our initial public offering or (y) amend the foregoing provisions; 

	 	•	 	 Although we do not intend to enter into a business combination with a target business that is affiliated with
Dragoneer, our sponsor, founders, our directors or our officers, we are not prohibited from doing so. In the event we enter into such a transaction, we, or a committee of independent directors, if required by applicable law or based upon the
decision of our board of directors or a committee thereof, will obtain an opinion from independent investment banking firm or another independent entity that commonly renders valuation opinions that such a business combination is fair to our company
from a financial point of view; 

  

	 	•	 	 If a shareholder vote on our initial business combination is not required by applicable law or stock exchange
listing requirements and we do not decide to hold a shareholder vote for business or other reasons, we will offer to redeem our public shares pursuant to Rule 13e-4 and Regulation 14E of the Exchange
Act, and will file tender offer documents with the SEC prior to completing our initial business combination which contain substantially the same financial and other information about our initial business combination and the redemption rights as is
required under Regulation 14A of the Exchange Act; 

  

	 	•	 	 So long as our securities are then listed on Nasdaq, our initial business combination must be with one or more
target businesses that together have an aggregate fair market value of at least 80% of the value of the trust account (excluding any deferred underwriters fees and taxes payable on the income earned on the trust account) at the time of the agreement
to enter into the initial business combination; 

  

	 	•	 	 Our initial business combination must be approved by a majority of our independent directors;

  

	 	•	 	 If our shareholders approve an amendment to our amended and restated memorandum and articles of association
(A) that would modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public
shares if we do not complete our initial business combination within 24 months (or 27 months, as applicable) from the closing of our initial public offering or (B) with respect to any other provision relating to the rights of holders of our
Class A ordinary shares, we will provide our public shareholders with the opportunity to redeem all or a portion of their ordinary shares upon such approval at a per-share price, payable in
cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any, divided by the number of the
then-outstanding public shares, subject to the limitations described herein; and 

  

	 	•	 	 We will not effectuate our initial business combination solely with another blank check company or a similar
company with nominal operations. 

 In addition, our amended and restated memorandum and articles of association provide
that under no circumstances will we redeem our public shares in an amount that would cause our net tangible assets to be less than $5,000,001. 

The Companies Act permits a company incorporated in the Cayman Islands to amend its memorandum and articles of association with the approval of
a special resolution which requires the approval of the holders of at least two-thirds of such company’s issued and outstanding ordinary shares who attend and vote at a general meeting or by way
of unanimous written resolution. A company’s articles of association may specify that the approval of a higher majority is required but, provided the approval of the required majority is obtained, any Cayman Islands exempted company may amend
its memorandum and articles of association regardless of whether its memorandum and articles of association provide otherwise. 

Accordingly, although we could amend any of the provisions relating to our structure and business plan which are contained in our amended and
restated memorandum and articles of association, we view all of these provisions as binding obligations to our shareholders and neither we, nor our officers or directors, will take any action to amend or waive any of these provisions unless we
provide dissenting public shareholders with the opportunity to redeem their public shares. 
 Anti-Money Laundering—Cayman Islands 

If any person in the Cayman Islands knows or suspects or has reasonable grounds for knowing or suspecting that another person is engaged in
criminal conduct or money laundering or is involved with terrorism or terrorist financing and property and the information for that knowledge or suspicion came to their attention in the course of business in the regulated sector or other trade,
profession, business or employment, the person will be required to report such knowledge or suspicion to (i) the Financial Reporting Authority of the Cayman Islands, pursuant to the Proceeds of Crime Act (As Revised) of the Cayman Islands if
the disclosure relates to criminal conduct or money laundering or (ii) a police officer of the rank of constable or higher, or the Financial Reporting Authority, pursuant to the Terrorism Act (As Revised) of the Cayman Islands, if the
disclosure relates to involvement with terrorism or terrorist financing and property. Such a report shall not be treated as a breach of confidence or of any restriction upon the disclosure of information imposed by any enactment or otherwise. 

 Data Protection—Cayman Islands 

We have certain duties under the Data Protection Act (As Revised) of the Cayman Islands (the “DPA”) based on internationally accepted
principles of data privacy. 
 Privacy Notice 

Introduction 
 This privacy notice puts our
shareholders on notice that through your investment in the Company you will provide us with certain personal information which constitutes personal data within the meaning of the DPA (“personal data”). In the following discussion, the
“company” refers to us and our affiliates and/or delegates, except where the context requires otherwise. 
 Investor Data 

We will collect, use, disclose, retain and secure personal data to the extent reasonably required only and within the parameters that could be
reasonably expected during the normal course of business. We will only process, disclose, transfer or retain personal data to the extent legitimately required to conduct our activities of on an ongoing basis or to comply with legal and regulatory
obligations to which we are subject. We will only transfer personal data in accordance with the requirements of the DPA, and will apply appropriate technical and organizational information security measures designed to protect against unauthorized
or unlawful processing of the personal data and against the accidental loss, destruction or damage to the personal data. 
 In our use of
this personal data, we will be characterized as a “data controller” for the purposes of the DPA, while our affiliates and service providers who may receive this personal data from us in the conduct of our activities may either act as our
“data processors” for the purposes of the DPA or may process personal information for their own lawful purposes in connection with services provided to us. 

We may also obtain personal data from other public sources. Personal data includes, without limitation, the following information relating to a
shareholder and/or any individuals connected with a shareholder as an investor: name, residential address, email address, contact details, corporate contact information, signature, nationality, place of birth, date of birth, tax identification,
credit history, correspondence records, passport number, bank account details, source of funds details and details relating to the shareholder’s investment activity. 

Who this Affects 
 If you are a natural
person, this will affect you directly. If you are a corporate investor (including, for these purposes, legal arrangements such as trusts or exempted limited partnerships) that provides us with personal data on individuals connected to you for any
reason in relation your investment in the company, this will be relevant for those individuals and you should transmit the content of this Privacy Notice to such individuals or otherwise advise them of its content. 

How the Company May Use a Shareholder’s Personal Data 

The company, as the data controller, may collect, store and use personal data for lawful purposes, including, in particular: 

 

	 	(a)	 where this is necessary for the performance of our rights and obligations under any purchase agreements;

  

	 	(b)	 where this is necessary for compliance with a legal and regulatory obligation to which we are subject (such as
compliance with anti-money laundering and FATCA/CRS requirements); and/or 

  

	 	(c)	 where this is necessary for the purposes of our legitimate interests and such interests are not overridden by
your interests, fundamental rights or freedoms. 

 Should we wish to use personal data for other specific purposes
(including, if applicable, any purpose that requires your consent), we will contact you. 
 Why We May Transfer Your Personal Data 

In certain circumstances we may be legally obliged to share personal data and other information with respect to your shareholding with the
relevant regulatory authorities such as the Cayman Islands Monetary Authority or the Tax Information Authority. They, in turn, may exchange this information with foreign authorities, including tax authorities. 

We anticipates disclosing personal data to persons who provide services to us and their respective affiliates (which may include certain
entities located outside the United States, the Cayman Islands or the European Economic Area), who will process your personal data on our behalf. 

 The Data Protection Measures We Take 

Any transfer of personal data by us or our duly authorized affiliates and/or delegates outside of the Cayman Islands shall be in accordance
with the requirements of the DPA. 
 We and our duly authorized affiliates and/or delegates shall apply appropriate technical and
organizational information security measures designed to protect against unauthorized or unlawful processing of personal data, and against accidental loss or destruction of, or damage to, personal data. 

We shall notify you of any personal data breach that is reasonably likely to result in a risk to your interests, fundamental rights or freedoms
or those data subjects to whom the relevant personal data relates. 
 Certain Anti-takeover Provisions of our Amended and Restated Memorandum and
Articles of Association 
 Our amended and restated memorandum and articles of association provide that our board of directors will be
classified into three classes of directors. As a result, in most circumstances, a person can gain control of our board only by successfully engaging in a proxy contest at two or more annual general meetings. 

Our authorized but unissued Class A ordinary shares and preference shares will be available for future issuances without shareholder
approval and could be utilized for a variety of corporate purposes, including future offerings to raise additional capital, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved Class A ordinary shares
and preference shares could render more difficult or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise. 

Listing of Shares 
 Our Class A ordinary shares are
listed on Nasdaq under the symbol “DGNU.”Exhibit
10.22

 

ENSYSCE
BIOSCIENCES, INC.

AMENDED
AND RESTATED 2021 OMNIBUS INCENTIVE PLAN

 

ARTICLE
I

 

PURPOSE

 

The
purpose of the Ensysce Biosciences, Inc. Amended and Restated 2021 Omnibus Incentive Plan (the “Plan”) is to enhance
the profitability and value of Ensysce Biosciences, Inc. (the “Company”) for the benefit of its stockholders by enabling
the Company to offer employees, directors and other service providers of the Company and its Affiliates, stock and stock-based incentive
awards, to create a means to raise the level of stock ownership by, employees, directors and service providers in order to attract, retain
and reward such individuals and strengthen the mutuality of interests between such individuals and the Company’s stockholders.
The Plan is effective as of the date set forth in Article XIV.

 

ARTICLE
II

 

DEFINITIONS

 

For
purposes of the Plan, the following terms shall have the following meanings:

 

2.1
“Acquisition Event” shall mean a merger or consolidation in which the Company is not the surviving entity, any transaction
that results in the acquisition of all or substantially all of the Company’s outstanding Common Stock by a single person or entity
or by a group of persons and/or entities acting in concert, or the sale or transfer of all or substantially all of the Company’s
assets.

 

2.2
“Affiliate” shall mean other than the Company, (i) any corporation in an unbroken chain of corporations beginning
with the Company, or in the event the Company is a Subsidiary, beginning with the Company’s Parent, which owns stock possessing
fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain;
(ii) any corporation, trade or business (including, without limitation, a partnership or limited liability company) which is controlled
fifty percent (50%) or more (whether by ownership of stock, assets or an equivalent ownership interest or voting interest) by the Company
and/or its Affiliates; or (iii) any other entity, approved by the Committee as an Affiliate under the Plan, in which the Company or any
of its Affiliates has a material equity interest.

 

2.3
“Appreciation Award” shall mean any Award under the Plan of any Stock Option or Other Stock-Based Award, provided
that such Other Stock-Based Award is based on the appreciation in value of a share of Common Stock in excess of an amount equal to at
least the Fair Market Value of the Common Stock on the date such Other Stock-Based Award is granted.

 

2.4
“Award” shall mean any award under the Plan of Stock Options, Restricted Stock and Other Stock-Based Awards. All Awards
shall be confirmed by, and subject to the terms of, a written agreement executed by the Company and the Participant or in the discretion
of the Committee, a grant letter from the Company.

 

    	 

     

    

 

2.5
“Board” shall mean the Board of Directors of the Company.

 

2.6
“Cause” means, with respect to a Participant’s Termination of Employment or Termination of Consultancy: (a)
in the case where there is an employment agreement, consulting agreement, change in control agreement or similar agreement in effect
between the Company or an Affiliate and the Participant at the time of grant of the Award that defines “cause” (or words
of like import), as defined under such agreement; and (b) in the case where there is no employment agreement, consulting agreement, change
in control agreement or similar agreement in effect between the Company or an Affiliate and the Participant at the time of grant of the
Award (or where such an agreement exists but does not define “cause” (or words of like import)), termination due to a Participant’s
commission of a fraud or felony in connection with his or her duties as an employee or other service provider of the Company or an Affiliate,
willful misconduct or any act of disloyalty, dishonesty, fraud, breach of trust or confidentiality as to the Company or an Affiliate,
or any other act which is intended to cause or may reasonably be expected to cause economic or reputational injury to the Company or
an Affiliate. With respect to a Participant’s Termination of Directorship, “Cause” shall mean an act or failure to
act that constitutes cause for removal of a director under applicable Delaware law.

 

2.7
“Change in Control” shall have the meaning set forth in Section 10.2.

 

2.8
“Code” shall mean the Internal Revenue Code of 1986, as amended.

 

2.9
“Committee” shall mean a committee or subcommittee of the Board (or an authorized committee thereof) appointed from
time to time by the Board (or such authorized committee thereof), which committee or subcommittee shall consist of not less than two
individuals, (i) each of whom is an “independent director” as defined under NASDAQ Listing Rule 5605(a)(2) or such other
applicable stock exchange rule and (ii) to the extent required by Rule 16b-3, at least two of whom are “non-employee directors”
as defined in Rule 16b-3. Notwithstanding the foregoing, if and to the extent that no Committee exists which has the authority to administer
the Plan, the functions of the Committee shall be exercised by the Board. If for any reason the appointed Committee does not meet the
requirements of Rule 16b-3, such noncompliance shall not affect the validity of the awards, grants, interpretations or other actions
of the Committee. Any member of the Committee who does not meet the “non-employee director” standard as defined in Rule 16b-3
is required to abstain from the actions of the Committee, as the Committee may determine, in order to comply with Rule 16b-3. The Committee
may also establish a subcommittee of the Committee that is intended to qualify as a committee consisting solely of two or more “non-employee
directors,” and may delegate to such subcommittee all approvals, certifications and administrative and other determinations with
respect to compensation intended to be exempt under Rule 16b-3.

 

2.10
“Common Stock” shall mean subject to Article IV hereof, the common stock, $.01 par value per share, of the
Company.

 

2.11
“Company” shall mean Ensysce Biosciences, Inc., a Delaware corporation, and any successors and assigns.

 

    	2

     

    

 

2.12
“Company Stock Plans” shall mean the Ensysce Biosciences, Inc. 2004 Stock Incentive Plan, 2008 Stock Incentive Plan,
2016 Stock Incentive Plan and the 2019 Directors Plan.

 

2.13
“Consultant” shall mean any natural person who provides bona fide consulting or advisory services to the Company or
its Affiliates pursuant to a written agreement, which are not in connection with the offer and sale of securities in a capital-raising
transaction, and do not, directly or indirectly, promote or maintain a market for the Company’s or its Affiliates’ securities.

 

2.14
“Disability” shall mean, with respect to a Participant’s Termination, the failure or inability of a Participant
to perform substantially the usual duties and obligations of such individual on behalf of the Company or its Affiliates for one hundred
eighty (180) days during any two hundred seventy (270) day period because of any mental or physical incapacity, as determined by the
Committee in its sole discretion. Notwithstanding the foregoing, for Awards under the Plan that provide for payments that are triggered
upon a Disability and that constitute “non-qualified deferred compensation” pursuant to Section 409A of the Code, Disability
shall mean that a Participant is disabled under Section 409A(a)(2)(C)(i) of the Code.

 

2.15
“Eligible Employees” shall mean each employee of the Company and its Affiliates who are eligible pursuant to Article
V to be granted Awards under the Plan.

 

2.16
“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended and all rules and regulations promulgated
thereunder. Any reference to any section of the Exchange Act shall also be a reference to any successor provision.

 

2.17
“Exercisable Awards” shall mean any Award under the Plan of any Stock Option and any Other Stock Based Award that
provides for a Participant-elected exercise.

 

2.18
“Fair Market Value” for purposes of the Plan, unless otherwise required by any applicable provision of the Code or
any regulations issued thereunder, shall mean, as of any applicable date, the closing price of a share of Common Stock on the immediately
preceding date, (i) as reported by the principal national securities exchange in the United States on which it is then traded or The
Nasdaq Stock Market or (ii) if not traded on any such national securities exchange or The Nasdaq Stock Market, as quoted on an automated
quotation system sponsored by the Financial Industry Regulatory Authority, or if the Common Stock shall not have been reported or quoted
on such date, on the first day prior thereto on which the Common Stock was reported or quoted; provided that, to the extent consistent
with the requirements of Section 422 or 409A of the Code, as applicable, the Committee may modify the definition of Fair Market Value
to reflect any changes in the trading practices of any exchange on which the Common Stock is listed or traded. For purposes of the grant
of any Award, the applicable date shall be the date as of which the Award is granted; provided that such date shall in no event be prior
to the date the Committee makes the determination to grant the Award. For purposes of the exercise of any Award, the applicable date
shall be the date a notice of exercise is received by the Committee or, if not a day on which the applicable market is open, the next
day that it is open. Notwithstanding the foregoing, if the Committee determines that such mean does not properly reflect the fair market
value of the Common Stock, the Fair Market Value shall be determined by the Committee using such method as it deems reasonable and consistent
with the applicable requirements of the Code and the regulations issued thereunder, including without limitation the requirements of
Section 422 or 409A of the Code, as applicable.

 

    	3

     

    

 

2.19
“Incentive Stock Option” shall mean any Stock Option awarded to an Eligible Employee under the Plan intended to be
and designated as an “Incentive Stock Option” within the meaning of Section 422 of the Code.

 

2.20
“Non-Employee Director” shall mean a director of the Company or any of its Affiliates who is not an active employee
of the Company or an Affiliate.

 

2.21
“Non-Qualified Stock Option” shall mean any Stock Option awarded under the Plan that is not an Incentive Stock Option.

 

2.22
“Other Stock-Based Award” shall mean an Award under Article VIII of the Plan that is valued in whole or in
part by reference to, or is payable in or otherwise based on, Common Stock, including, without limitation, an Award valued by reference
to an Affiliate.

 

2.23
“Parent” shall mean any parent corporation of the Company within the meaning of Section 424(e) of the Code.

 

2.24
“Participant” shall mean an Eligible Employee, Non-Employee Director or Consultant to whom an Award has been made
pursuant to the Plan.

 

2.25
“Performance Goal” shall mean the performance goals described on Exhibit A.

 

2.26
“Restricted Stock” shall mean an award of Common Stock that is subject to Article VII.

 

2.27
“Restriction Period” shall have the meaning set forth in Section 7.1.

 

2.28
“Rule 16b-3” shall mean Rule 16b-3 under Section 16(b) of the Exchange Act.

 

2.29
“Section 409A of the Code” shall mean the nonqualified deferred compensation rules under Section 409A of the Code
and any applicable Treasury regulations thereunder.

 

2.30
“Securities Act” shall mean the Securities Act of 1933, as amended and all rules and regulations promulgated thereunder.
Any reference to any section of the Securities Act shall also be a reference to any successor provision.

 

2.31
“Stock Option” shall mean any option to purchase shares of Common Stock granted to Eligible Employees, Non-Employee
Directors or Consultants pursuant to Article VI.

 

2.32
“Subsidiary” shall mean any subsidiary corporation of the Company within the meaning of Section 424(f) of the Code.

 

2.33
“Ten Percent Shareholder” shall mean a person owning stock possessing more than 10% of the total combined voting power
of all classes of stock of the Company, its Subsidiaries or its Parent.

 

    	4

     

    

 

2.34
“Termination” shall mean a Termination of Consultancy, Termination of Directorship or Termination of Employment, as
applicable.

 

2.35
“Termination of Consultancy” shall mean, subject to the next sentence: (a) that the Consultant is no longer acting
as a consultant to the Company or an Affiliate; or (b) when an entity which is retaining a Participant as a Consultant ceases to be an
Affiliate unless the Participant otherwise is, or thereupon becomes, a Consultant to the Company or another Affiliate at the time the
entity ceases to be an Affiliate. In the event that a Consultant becomes an Eligible Employee or a Non-Employee Director upon the termination
of his or her consultancy, unless otherwise determined by the Committee, in its sole discretion, no Termination of Consultancy shall
be deemed to occur until such time as such Consultant is no longer a Consultant, an Eligible Employee or a Non-Employee Director. Notwithstanding
the foregoing, the Committee may otherwise define Termination of Consultancy in the Award agreement or, if no rights of a Participant
are reduced, may otherwise define Termination of Consultancy thereafter.

 

2.36
“Termination of Directorship” shall mean, subject to the next sentence, with respect to a Non-Employee Director, that
the Non-Employee Director is no longer serving as a director of the Company or an Affiliate. In the event that a Non-Employee Director
becomes a Consultant or an Eligible Employee upon the termination of his or her directorship, unless otherwise determined by the Committee,
in its sole discretion, no Termination of Directorship shall be deemed to occur until such time as such Non-Employee Director is no longer
an Eligible Employee, a Consultant or a Non-Employee Director. The Committee may otherwise define Termination of Directorship in the
Award agreement or, if no rights of a Participant are reduced, may otherwise define Termination of Directorship thereafter.

 

2.37
“Termination of Employment” shall mean, subject to the next sentence: (a) a termination of service (for reasons
other than a military or personal leave of absence granted by the Company) of a Participant from the Company and its Affiliates; or (b)
an entity that is employing a Participant has ceased to be an Affiliate, unless the Participant thereupon becomes employed by the Company
or another Affiliate. In the event that an Eligible Employee becomes a Consultant or a Non-Employee Director upon the termination of
his or her employment, unless otherwise determined by the Committee, in its sole discretion, no Termination of Employment shall be deemed
to occur until such time as such Eligible Employee is no longer an Eligible Employee, a Consultant or a Non-Employee Director. The Committee
may otherwise define Termination of Employment in the Award agreement or, if no rights of a Participant are reduced, may otherwise define
Termination of Employment thereafter.

 

2.38
“Transfer” or “Transferred” shall mean anticipate, alienate, attach, sell, assign, pledge, encumber,
charge or otherwise transfer.

 

2.39
“409A Covered Award” shall mean an Award that constitutes “non-qualified deferred compensation” pursuant
to Section 409A of the Code.

 

    	5

     

    

 

ARTICLE
III

 

ADMINISTRATION

 

3.1
The Committee. The Plan shall be administered and interpreted by the Committee.

 

3.2
Awards. The Committee shall have full discretionary power and authority to grant, pursuant to the terms of the Plan, Awards to
Eligible Employees, Consultants and Non-Employee Directors. In particular, the Committee shall have the authority:

 

(a)
to select the Eligible Employees, Consultants and Non-Employee Directors to whom Awards may from time to time be granted hereunder;

 

(b)
to determine whether and to what extent Awards, or any combination thereof, are to be granted hereunder to one or more Eligible Employees,
Consultants and Non-Employee Directors;

 

(c)
to determine the number of shares of Common Stock to be covered by each Award granted hereunder;

 

(d)
to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder (including, but not
limited to, the share price, any restriction or limitation, any vesting terms or schedule (including time-based and performance-based
vesting conditions) or acceleration thereof, or any forfeiture restrictions or waiver thereof, regarding any Award, and the shares of
Common Stock relating thereto, based on such factors, if any, as the Committee shall determine, in its sole discretion);

 

(e)
to determine the effect on a Participant’s Award(s) granted under the Plan of a Participant’s breach or violation of any
restrictive covenants (including, without limitation, non-competition, non-solicitation and confidential information) set forth in a
written agreement between the Participant and the Company or any of its Affiliates, including an Award agreement under the Plan;

 

(f)
to determine whether and under what circumstances an Award may be settled in cash and/or Common Stock;

 

(g)
to modify, extend or renew an Award, subject to Section 6.3(f) hereof and applicable law, including Code Section 409A;

 

(h)
to determine whether a Stock Option is an Incentive Stock Option or Non-Qualified Stock Option; and;

 

(i)
to determine whether to require an Eligible Employee, Consultant or Non-Employee Director, as a condition of the granting of an Award,
not to sell or otherwise dispose of shares acquired pursuant to the exercise of a Stock Option for a period of time as determined by
the Committee, in its sole discretion, following the date of the acquisition of such Stock Option.

 

    	6

     

    

 

3.3
Guidelines.

 

(a)
Subject to Article XI hereof, the Committee shall have the authority to adopt, alter and repeal such administrative rules, guidelines
and practices governing the Plan and perform all acts, including the delegation of its administrative responsibilities (to the extent
permitted by applicable law and applicable stock exchange rules), as it shall, from time to time, deem advisable; to construe and interpret
the terms and provisions of the Plan and any Award issued under the Plan (and any agreements relating thereto); and to otherwise supervise
the administration of the Plan. The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan
or in any agreement relating thereto in the manner and to the extent it shall deem necessary to carry the Plan into effect. To the extent
applicable, the Plan is intended to comply with the applicable requirements of Rule 16b-3 and shall be limited, construed and interpreted
in a manner so as to comply therewith.

 

(b)
Without limiting the foregoing, the Committee shall have the authority to establish special guidelines, provisions and procedures applicable
to Awards granted to persons who are residing or employed in, or subject to, the taxes of, countries other than the United States to
accommodate differences in applicable tax, securities or other local law. The Committee may adopt supplements or amendments to the Plan
to reflect the specific requirements of local laws and procedures of non-United States jurisdictions without affecting the terms of the
Plan as then in effect for any other purposes.

 

3.4
Decisions Final. Any decision, interpretation or other action made or taken in good faith by or at the direction of the Company,
the Board or the Committee (or any of its members) arising out of or in connection with the Plan shall be within the absolute discretion
of all and each of them, as the case may be, and shall be final, binding and conclusive on the Company and all employees and Participants
and their respective heirs, executors, administrators, successors and assigns.

 

3.5
Procedures. If the Committee is appointed, the Board shall designate one of the members of the Committee as chairman and the Committee
shall hold meetings, subject to the By-Laws of the Company, at such times and places as the Committee shall deem advisable, including,
without limitation, by telephone conference or by written consent. A majority of the Committee members shall constitute a quorum. All
determinations of the Committee shall be made by a majority of its members. Any decision or determination reduced to writing and signed
by all the Committee members in accordance with the By-Laws of the Company, shall be fully effective as if it had been made by a vote
at a meeting duly called and held. The Committee shall keep minutes of its meetings and shall make such rules and regulations for the
conduct of its business as it shall deem advisable.

 

3.6
Designation of Consultants/Liability.

 

(a)
The Committee may designate employees of the Company and professional advisors to assist the Committee in the administration of the Plan
(to the extent permitted by applicable law and applicable exchange rules) and, subject to applicable law, may grant authority to officers
to grant Awards or execute agreements or other documents on behalf of the Committee, provided that officer who has authority to grant
Awards may not grant Awards to himself or herself.

 

    	7

     

    

 

(b)
The Committee may employ such legal counsel, consultants and agents as it may deem desirable for the administration of the Plan and may
rely upon any opinion received from any such counsel or consultant and any computation received from any such consultant or agent. Expenses
incurred by the Committee or Board in the engagement of any such counsel, consultant or agent shall be paid by the Company. The Committee,
its members and any person designated pursuant to paragraph (a) above shall not be liable for any action or determination made in good
faith with respect to the Plan. To the maximum extent permitted by applicable law, no officer or former officer of the Company or member
or former member of the Committee or of the Board shall be liable for any action or determination made in good faith with respect to
the Plan or any Award granted under it. To the maximum extent permitted by applicable law and the Certificate of Incorporation and By-Laws
of the Company and to the extent not covered by insurance directly insuring such person, each officer or former officer and member or
former member of the Committee or of the Board shall be indemnified and held harmless by the Company against any cost or expense (including
reasonable fees of counsel reasonably acceptable to the Company) or liability (including any sum paid in settlement of a claim with the
approval of the Company), and advanced amounts necessary to pay the foregoing at the earliest time and to the fullest extent permitted,
arising out of any act or omission to act in connection with the administration of the Plan, except to the extent arising out of such
officer’s or former officer’s, member’s or former member’s own fraud or bad faith. Such indemnification shall
be in addition to any rights of indemnification the employee, officer, director or member or former employee, officer, director or member
may have under applicable law or under the Certificate of Incorporation or By-Laws of the Company or any Affiliate. Notwithstanding anything
else herein, this indemnification will not apply to the actions or determinations made by an individual with regard to Awards granted
to him or her under the Plan.

 

ARTICLE
IV

 

SHARE
AND OTHER LIMITATIONS

 

4.1
Shares.

 

(a)
General Limitation.

 

(i)
The aggregate number of shares of Common Stock that may be the subject of Awards under the Plan (subject to any increase or decrease
pursuant to Section 4.2), is the sum of: (w) 4,444,068 shares underlying outstanding awards under the Company Stock Plans that
have been converted into Awards under this Plan as of the Original Effective Date, (x) 1,000,000 additional shares reserved for issuance
under the Plan as of the Original Effective Date, (y) 3,000,000 additional shares reserved for issuance under the Plan as of the Restatement
Effective Date, and (z) an annual increase on January 1, 2023 and each anniversary of such date thereafter prior to the termination of
the Plan, equal to the lesser of (A) 5% of the shares of Common Stock issued and outstanding on the last day of the immediately preceding
fiscal year and (B) such smaller number of shares of Common Stock as determined by the Board, all of which shares may be either authorized
and unissued Common Stock or Common Stock held in or acquired for the treasury of the Company or both. The maximum number of shares of
Common Stock that may be issued pursuant to Stock Options intended to be Incentive Stock Options is 25,332,204. Following the Restatement
Effective Date, any shares issued by the Company through the assumption or substitution of outstanding grants in connection with the
acquisition of another entity shall not reduce the maximum number of shares available for delivery under the Plan.

 

    	8

     

    

 

(ii)
If any Appreciation Award granted under the Plan expires, terminates or is canceled for any reason without having been exercised in full,
the number of shares of Common Stock underlying such unexercised or repurchased Award shall again be available for the purposes of Awards
under the Plan. If a share of Restricted Stock or a share of Common Stock underlying an Other Stock-Based Award that is not an Appreciation
Award is forfeited for any reason, the number of forfeited shares of Common Stock comprising or underlying such Award shall again be
available for the purposes of Awards under the Plan. Any Award settled in cash shall again be available for the purposes of Awards under
the Plan.

 

(iii)
Shares of common stock withheld in settlement of a tax withholding obligation associated with an Award, or in satisfaction of the exercise
price payable upon exercise of an Appreciation Award, will again become available for grant under the Plan.

 

(b)
Non-Employee Director Individual Limitation. The aggregate amount of equity and cash compensation (collectively “Compensation”)
payable to a Non-Employee Director with respect to a calendar year, whether under the Plan or otherwise, for services as a Non-Employee
Director, shall not exceed $750,000; provided however, that such amount shall be $1,000,000 for the calendar year in which the applicable
Non-Employee Director is initially elected or appointed to the Board (collectively, the “Director Limit”). Equity
incentive awards shall be counted towards the Director Limit in the year in which they are granted, based on the grant date fair value
of such awards for financial reporting purposes (but excluding the impact of estimated forfeitures related to service-based vesting provisions).
Cash fees shall be counted towards the Director Limit in the year for which they are reported as compensation in the Company’s
director compensation disclosures pursuant to Item 402 of Regulation S-K under the Securities Act. The Director Limit shall not apply
to (i) Compensation earned by a Non-Employee Director solely in his or her capacity as chairman of the Board or lead independent director;
(ii) Compensation earned with respect to services a Non-Employee Director provides in a capacity other than as a Non-Employee Director,
such as an advisor or consultant to the Company; and (iii) Compensation awarded by the Board to a Non-Employee Director in extraordinary
circumstances, as determined by the Board in its discretion, in each case provided that the Non-Employee Director receiving such additional
Compensation does not participate in the decision to award such Compensation.

 

4.2
Changes.

 

(a)
The existence of the Plan and the Awards granted hereunder shall not affect in any way the right or power of the Board or the stockholders
of the Company to make or authorize any adjustment, recapitalization, reorganization or other change in the Company’s capital structure
or its business, any merger or consolidation of the Company or its Affiliates, any issue of bonds, debentures, preferred or prior preference
stock ahead of or affecting Common Stock, the dissolution or liquidation of the Company or its Affiliates, any sale or transfer of all
or part of its assets or business or any other corporate act or proceeding.

 

    	9

     

    

 

(b)
In the event of any such change in the capital structure or business of the Company by reason of any stock dividend or distribution,
stock split or reverse stock split, spin-off, recapitalization, reorganization, merger, consolidation, split-up, combination or exchange
of shares, non-cash distribution with respect to its outstanding Common Stock of capital stock other than Common Stock, reclassification
of its capital stock, any sale or transfer of all or part of the Company’s assets or business, or any similar change affecting
the Company’s capital structure or business and the Committee determines in good faith that an adjustment is necessary or appropriate
under the Plan to reflect the change, then the aggregate number and kind of shares which thereafter may be issued under the Plan and
the number and kind of shares or other property (including cash) to be issued upon exercise of an outstanding Exercisable Award or under
Restricted Stock or an Other Stock-Based Award that is not an Exercisable Award granted under the Plan and the purchase price thereof
shall be appropriately adjusted consistent with such change, and such other changes in the Awards may be made in such manner as the Committee
may deem necessary or appropriate to reflect the change, and any such adjustment determined by the Committee in good faith shall be binding
and conclusive on the Company and all Participants and employees and their respective heirs, executors, administrators, successors and
assigns. Except as provided in this Section 4.2, a Participant shall have no rights by reason of any issue by the Company of stock
of any class or securities convertible into stock of any class, any subdivision or consolidation of shares of stock of any class, the
payment of any stock dividend, any other increase or decrease in the number of shares of stock of any class, any sale or transfer of
all or part of the Company’s assets or business or any other change affecting the Company’s capital structure or business.

 

(c)
Fractional shares of Common Stock resulting from any adjustment in Awards pursuant to Section 4.2(a) or (b) shall be aggregated
until, and eliminated at, the time of exercise or settlement by rounding-down to the nearest whole share. No fractional shares of Common
Stock shall be issued under the Plan. No cash settlements shall be made with respect to fractional shares eliminated by founding. Notice
of any adjustment shall be given by the Committee to each Participant whose Award has been adjusted and such adjustment (whether or not
such notice is given) shall be effective and binding for all purposes of the Plan.

 

(d)
Upon the occurrence of an Acquisition Event, then the Committee may, in its sole discretion, terminate all outstanding Exercisable Awards
of Eligible Employees, Consultants or Non-Employee Directors effective as of the date of the Acquisition Event, by delivering notice
of termination to each such Participant at least twenty (20) days prior to the date of consummation of the Acquisition Event; provided,
that, unless otherwise determined by the Committee at or after the time of grant, during the period from the date on which such notice
of termination is delivered to the consummation of the Acquisition Event, each Eligible Employee shall have the right to exercise in
full all of his or her Exercisable Awards that are then outstanding (unless otherwise determined by the Committee, whether vested or
not vested and without regard to any limitations on exercisability otherwise contained in the Exercisable Award) but contingent on the
occurrence of the Acquisition Event, and, provided that, if the Acquisition Event does not take place within a specified period after
giving such notice for any reason whatsoever, the notice and exercise shall be null and void. If an Acquisition Event occurs, to the
extent the Committee does not terminate the outstanding Exercisable Award pursuant to this Section 4.2(d), then the provisions
of Section 4.2(b) shall apply.

 

    	10

     

    

 

4.3
Minimum Purchase Price. Notwithstanding any provision of this Plan to the contrary, if authorized but previously unissued shares
of Common Stock are issued under this Plan, such shares shall not be issued for a consideration which is less than as permitted under
applicable law, which, to the extent permitted under applicable law, may include past services to the Company or its Affiliates.

 

ARTICLE
V

 

ELIGIBILITY

 

5.1
General Eligibility. All Eligible Employees and all Consultants and Non-Employee Directors of the Company and its Affiliates
shall be eligible for grants of Non-Qualified Stock Options, Restricted Stock, and Other Stock-Based Awards. Eligibility for the grant
of Awards and actual participation in the Plan shall be determined by the Committee in its sole discretion. Notwithstanding anything
herein to the contrary, no Stock Option under which a Participant may receive Common Stock may be granted under the Plan to an Eligible
Employee, Consultant or Non-Employee Director of the Company or any of its Affiliates if such Common Stock does not constitute “service
recipient stock” for purposes of Section 409A of the Code with respect to such Eligible Employee, Consultant or Non-Employee Director,
unless such Stock Option is structured in a manner intended to comply with, or be exempt from, Section 409A of the Code.

 

5.2
Incentive Stock Options. Notwithstanding anything herein to the contrary, only Eligible Employees of the Company, its Subsidiaries
and its Parent (if any) shall be eligible for grants of Incentive Stock Options under the Plan. Eligibility for the grant of an Incentive
Stock Option and actual participation in the Plan shall be determined by the Committee in its sole discretion.

ARTICLE
VI

 

STOCK
OPTIONS

 

6.1
Options. Each Stock Option granted hereunder shall be one of two types: (i) an Incentive Stock Option intended to satisfy the
requirements of Section 422 of the Code; or (ii) a Non-Qualified Stock Option.

 

6.2
Grants. Subject to the provisions of Article V, the Committee shall have the authority to grant to any Eligible Employee
one or more Incentive Stock Options, Non-Qualified Stock Options or any combination thereof. To the extent that any Stock Option does
not qualify as an Incentive Stock Option (whether because of its provisions or the time or manner of its exercise or otherwise), such
Stock Option or the portion thereof which does not so qualify, shall constitute a Non-Qualified Stock Option. The Committee shall have
the authority to grant any Consultant or Non-Employee Director one or more Non-Qualified Stock Options.

 

    	11

     

    

 

6.3
Terms of Options. Options granted under the Plan shall be subject to the following terms and conditions, and shall be in such
form and contain such additional terms and conditions, not inconsistent with the terms of the Plan, as the Committee shall deem desirable:

 

(a)
Exercise Price. The exercise price per share of Common Stock subject to a Stock Option shall be determined by the Committee at
the time of grant, but shall not be less than 100% of the Fair Market Value of a Common Stock at the time of grant; provided, however,
that if an Incentive Stock Option is granted to a Ten Percent Shareholder, the exercise price shall be no less than 110% of the Fair
Market Value of a share of Common Stock.

 

(b)
Stock Option Term. The term of each Stock Option shall be fixed by the Committee, but no Stock Option shall be exercisable more
than ten (10) years after the date the Option is granted; provided, however, the term of an Incentive Stock Option granted to a Ten Percent
Shareholder shall not exceed five (5) years.

 

(c)
Exercisability. Stock Options shall be exercisable at such time or times and subject to such terms and conditions as shall be
determined by the Committee at grant. The Committee may condition the exercisability of the options upon the attainment of specified
performance targets (including, the Performance Goals specified in Exhibit A hereto) or such other factors as the Committee may determine,
in its sole discretion. If the Committee provides, in its discretion, that any Stock Option is exercisable subject to certain limitations
(including, without limitation, that it is exercisable only in installments or within certain time periods), the Committee may waive
limitations on the exercisability at any time at or after grant in whole or in part (including, without limitation, waiver of the installment
exercise provisions or acceleration of the time at which Stock Options may be exercised), based on such factors, if any, as the Committee
shall determine, in its sole discretion provided, that, unless otherwise determined by the Committee at grant, the grant shall provide
that as a condition of the exercise of a Stock Option, the Participant shall be required to certify at the time of exercise in a manner
acceptable to the Company that the Participant is in compliance with the terms and conditions of the Plan.

 

(d)
Method of Exercise. Subject to whatever installment exercise and waiting period provisions apply under subsection (c) above,
to the extent vested, Stock Options may be exercised in whole or in part at any time during the Stock Option term, by giving written
notice of exercise to the Company specifying the number of shares of Common Stock to be purchased accompanied by payment in full of the
purchase price and any taxes required to be withheld in connection with such exercise. Payment of the purchase price for shares of Common
Stock issued pursuant to the exercise of a Stock Option may be made as follows: (i) in cash or by check, bank draft or money order payable
to the order of Company; (ii) through the delivery to the Company of shares of Common Stock owned by the Participant (and for which the
Participant has good title free and clear of any liens and encumbrances) based on the Fair Market Value of the Common Stock on the payment
date; (iii) solely to the extent permitted by applicable law, if the Common Stock is traded on a national securities exchange or quoted
on a national quotation system sponsored by the Financial Industry Regulatory Authority, and the Committee authorizes, through a procedure
established by the Committee whereby the Participant delivers irrevocable instructions to a broker reasonably acceptable to the Committee
to deliver promptly to the Company an amount equal to the purchase price; (iv) on such other terms and conditions as may be acceptable
to the Committee (which may include a reduction in the number of shares of Common Stock issuable upon exercise, based on the Fair Market
Value of the Common Stock on the payment date) or (v) any combination of the foregoing. Payment for shares of Common Stock purchased
pursuant to exercise of a Stock Option shall be made at the principal offices of the Company. For purposes of this Section, the date
of issuance shall be the date upon which payment in full of the purchase price has been received by (or tendered to) the Company as provided
herein. No shares of Common Stock shall be issued until payment, as provided herein, therefor has been made or provided for.

 

    	12

     

    

 

(e)
Incentive Stock Option Limitations. To the extent that the aggregate Fair Market Value (determined as of the time of grant) of
the Common Stock with respect to which Incentive Stock Options are exercisable for the first time by an Eligible Employee during any
calendar year under the Plan and/or any other stock option plan of the Company, any Subsidiary or any Parent exceeds $100,000, such Stock
Options shall be treated as Non-Qualified Stock Options. In addition, if an Eligible Employee does not remain employed by the Company,
any Subsidiary or any Parent at all times from the time an Incentive Stock Option is granted until three (3) months prior to the date
of exercise thereof (or such other period as required by applicable law), such Stock Option shall be treated as a Non-Qualified Stock
Option. To the extent permitted by applicable law, should any provision of the Plan not be necessary in order for the Stock Options to
qualify as Incentive Stock Options, or should any additional provisions be required, the Committee may amend the Plan accordingly, without
the necessity of obtaining the approval of the stockholders of the Company.

 

(f)
Form, Modification, Extension and Renewal of Stock Options. Subject to the terms and conditions and within the limitations of
the Plan, a Stock Option shall be evidenced by such form of agreement as is approved by the Committee, and the Committee may (i) subject
to the requirements of Section 409A of the Code, modify, extend or renew outstanding Stock Options granted under the Plan (provided that
the rights of a Participant are not reduced without his or her consent and provided that such action does not extend the Stock Option
beyond its stated term), and (ii) subject to applicable law and the requirements of the principal national securities exchange in the
United States on which the Common Stock is then traded or The Nasdaq Stock Market, accept the surrender of outstanding Stock Options
(up to the extent not theretofore exercised) and authorize the granting of new Stock Options in substitution therefor (to the extent
not theretofore exercised). Notwithstanding the foregoing, an outstanding Stock Option may not be modified to reduce the exercise price
thereof nor may a new Stock Option at a lower price be substituted for a surrendered Stock Option, (other than adjustments or substitutions
in accordance with Section 4.2), unless such action is approved by the stockholders of the Company.

 

(g)
Other Terms and Conditions. Stock Options may contain such other provisions, which shall not be inconsistent with any of the foregoing
terms of the Plan, as the Committee shall deem appropriate; provided, however, that Stock Options shall not provide for the grant of
the same number of Stock Options as the number of shares used to pay for the exercise price of Stock Options or shares used to pay withholding
taxes (i.e., “reloads”).

 

    	13

     

    

 

6.4
Termination. The following rules apply with regard to Stock Options upon the Termination of a Participant, unless otherwise determined
by the Committee at grant or, if no rights of the Participant or in the case of his death his estate are reduced, thereafter.

 

(a)
Termination by Reason of Death or Disability. If a Participant’s Termination is by reason of death or Disability, any Stock
Option held by such Participant may be exercised, to the extent vested and exercisable at the time of such Termination by reason of death
or Disability, by the Participant (or, in the case of death, by the legal representative of the Participant’s estate), at any time
within a period of one (1) year from the date of such Termination due to death or Disability, but in no event beyond the expiration of
the stated term of such Stock Option.

 

(b)
Termination Other than for Cause. If a Participant’s Termination is for any reason other than a Termination by the Company
or its Affiliate for Cause, death or Disability, any Stock Option held by such Participant may be exercised, to the extent vested and
exercisable at termination, by the Participant at any time within a period of ninety (90) days from the date of such termination, but
in no event beyond the expiration of the stated term of such Stock Option.

 

(c)
Termination for Cause. In the event the Participant’s Termination is (i) for Cause or (ii) a voluntary termination within
ninety (90) days after occurrence of an event which would be grounds for Termination by the Company or its Affiliate for Cause (without
regard to any notice or cure period requirement), any Stock Option (whether or not then vested or exercisable) held by the Participant
at the time of occurrence of the event which would be grounds for Termination by the Company or its Affiliate for Cause shall be deemed
to have terminated and expired upon occurrence of the event which would be grounds for Termination by the Company or its Affiliate for
Cause.

 

ARTICLE
VII

 

RESTRICTED
STOCK

 

7.1
Awards of Restricted Stock. Restricted Stock may be issued to all eligible Participants pursuant to Article V of the Plan
either alone or in addition to other Awards granted under the Plan. The Committee shall determine the eligible Participants to whom,
and the time or times at which, grants of Restricted Stock will be made, the number of shares to be awarded, the purchase price (if any)
to be paid by the Participant (subject to Section 7.2), the time or times at which such Awards may be subject to forfeiture (if
any), the vesting schedule (if any) and rights to acceleration thereof, and all other terms and conditions of the Awards. The Committee
may condition the grant or vesting of Restricted Stock upon the attainment of specified performance targets (including, the Performance
Goals specified in Exhibit A hereto) or such other factors as the Committee may determine, in its sole discretion. Unless otherwise determined
by the Committee, the Participant shall not be permitted to transfer shares of Restricted Stock awarded under the Plan during a period
set by the Committee (if any) (the “Restriction Period”) commencing with the date of such Award, as set forth in the
applicable Award agreement.

 

7.2
Awards and Certificates. A Participant selected to receive Restricted Stock shall not have any rights with respect to such Award,
unless and until such Participant has delivered a fully executed copy of the Award agreement evidencing the Award to the Company and
has otherwise complied with the applicable terms and conditions of such Award. Further, such Award shall be subject to the following
conditions:

 

(a)
Purchase Price. The purchase price of Restricted Stock shall be determined by the Committee and may be zero, but shall not be
less than as permitted under applicable law.

 

    	14

     

    

 

(b)
Acceptance. Awards of Restricted Stock must be accepted within a period of sixty (60) days (or such shorter period as the Committee
may specify at grant) after the grant date, by executing an Award agreement and by paying whatever price (if any) the Committee has designated
thereunder.

 

(c)
Legend. Each Participant receiving Restricted Stock shall be issued a stock certificate in respect of such shares of Restricted
Stock, unless the Committee elects to use another system, such as book entries by the transfer agent, as evidencing ownership of Restricted
Stock. Such certificate shall be registered in the name of such Participant, and shall bear an appropriate legend referring to the terms,
conditions, and restrictions applicable to such Award, substantially in the following form:

 

“The
anticipation, alienation, attachment, sale, transfer, assignment, pledge, encumbrance or charge of the shares of stock represented hereby
are subject to the terms and conditions (including forfeiture) of the Ensysce Biosciences, Inc. (the “Company”) Amended and
Restated 2021 Omnibus Incentive Plan (the “Plan”), and an Award agreement entered into between the registered owner and the
Company dated _____. Copies of such Plan and Award agreement are on file at the principal office of the Company.”

 

(d)
Custody. The Committee may require that any stock certificates evidencing such shares be held in custody by the Company until
the restrictions thereon shall have lapsed, and that, as a condition of any Restricted Stock Award, the Participant shall have delivered
a duly signed stock power, endorsed in blank, relating to the Common Stock covered by such Award.

 

(e)
Rights as Stockholder; Dividends. Except as provided in this subsection and subsection (d) above and as otherwise determined by
the Committee, the Participant shall have, with respect to the shares of Restricted Stock, all of the rights of a holder of shares of
Common Stock of the Company including, without limitation, the right to receive any dividends, the right to vote such shares and, subject
to and conditioned upon the full vesting of shares of Restricted Stock, the right to tender such shares. Notwithstanding the foregoing,
dividends or other distributions on shares of Restricted Stock shall be withheld, in each case, while the Restricted Stock is subject
to restrictions and no dividends or other distributions payable thereunder shall be paid unless and until the shares of Restricted Stock
to which they relate are no longer subject to a risk of forfeiture. Dividends and other distributions that are not paid currently shall
be credited to bookkeeping accounts on the Company’s records for purposes of the Plan and, except as otherwise determined by the
Committee, shall not accrue interest. Such dividends and other distributions shall be paid to the Participant in the same form as paid
on the Common Stock upon the lapse of the restrictions.

 

(f)
Lapse of Restrictions. If and when the Restriction Period expires without a prior forfeiture of the Restricted Stock subject to
such Restriction Period, the certificates for such shares shall be delivered to the Participant. All legends shall be removed from said
certificates at the time of delivery to the Participant except as otherwise required by applicable law. Notwithstanding the foregoing,
actual certificates shall not be issued to the extent that book entry recordkeeping is used.

 

    	15

     

    

 

(g)
Termination. Unless otherwise determined by the Committee at grant or thereafter, upon a Termination for any reason during the
relevant Restriction Period, all Restricted Stock still subject to restriction shall be forfeited.

 

ARTICLE
VIII

 

OTHER
STOCK-BASED AWARDS

 

8.1
Other Stock-Based Awards. The Committee, in its sole discretion, is authorized to grant to Eligible Employees, Consultants and
Non-Employee Directors Other Stock-Based Awards that are payable in, valued in whole or in part by reference to, or otherwise based on
or related to shares of Common Stock, including but not limited to, shares of Common Stock awarded purely as a bonus and not subject
to any restrictions or conditions, shares of Common Stock in payment of the amounts due under an incentive or performance plan sponsored
or maintained by the Company or an Affiliate, stock equivalent units, restricted stock units, deferred stock units, and Awards valued
by reference to book value of shares of Common Stock. Other Stock-Based Awards may be granted alone, in addition to or in tandem with
other Awards granted under the Plan.

 

Subject
to the provisions of the Plan, the Committee shall, in its sole discretion, have authority to determine the Eligible Employees, Consultants
and Non-Employee Directors of the Company and its Affiliates, to whom, and the time or times at which, such Awards shall be made, the
number of shares of Common Stock to be awarded pursuant to such Awards, and all other conditions of the Awards. The Committee may also
provide for the grant of Common Stock under such Awards upon the completion of a specified performance period.

 

The
Committee may condition the grant or vesting of Other Stock-Based Awards upon the attainment of specified performance targets (including,
the Performance Goals specified in Exhibit A attached hereto) or such other factors as the Committee may determine, in its sole discretion.

 

8.2
Terms and Conditions. Other Stock-Based Awards made pursuant to this Article VIII shall be subject to the following terms
and conditions:

 

(a)
Non-Transferability. Subject to the applicable provisions of the Award agreement and the Plan, shares of Common Stock subject
to Awards made under this Article VIII may not be Transferred prior to the date on which the shares are issued, or, if later,
the date on which any applicable restriction, performance or deferral period lapses.

 

(b)
Dividends. Unless otherwise determined by the Committee at the time of Award, subject to the provisions of the Award agreement
and the Plan, the recipient of an Award under this Article VIII shall not be entitled to receive, currently or on a deferred basis,
dividends or dividend equivalents with respect to the number of shares of Common Stock covered by the Award.

 

    	16

     

    

 

(c)
Vesting. Any Award under this Article VIII and any Common Stock covered by any such Award shall vest or be forfeited to
the extent so provided in the Award agreement, as determined by the Committee, in its sole discretion.

 

(d)
Price. Common Stock issued on a bonus basis under this Article VIII may be issued for no cash consideration; Common Stock
purchased pursuant to a purchase right awarded under this Article VIII shall be priced, as determined by the Committee in its
sole discretion. The exercise or base price per share of Common Stock subject to an Other Stock-Based Award that is an Appreciation Award
shall be determined by the Committee at the time of grant, but shall not be less than 100% of the Fair Market Value of a Common Stock
at the time of grant.

 

(e)
Payment. Form of payment for the Other Stock-Based Award shall be specified in the Award agreement and may be in shares of Common
Stock.

 

(f)
Appreciation Award Term. The term of each Other Stock-Based Award that is an Appreciation Award shall be fixed by the Committee,
but no Other Stock-Based Award that is an Appreciation Award shall be exercisable more than ten (10) years after the date the Award is
granted.

 

ARTICLE
IX

 

NON-TRANSFERABILITY

 

9.1
Non-Transferability. Except as provided in the last sentence of this Article IX, no Award shall be Transferred by the Participant
otherwise than by will or by the laws of descent and distribution, all Stock Options shall be exercisable, during the Participant’s
lifetime, only by the Participant, no Award shall, except as otherwise specifically provided by law or herein, be Transferred in any
manner, and any attempt to Transfer any such Award shall be void. No Award shall in any manner be liable for or subject to the debts,
contracts, liabilities, engagements or torts of any person who shall be entitled to such Award, nor shall it be subject to attachment
or legal process for or against such person. Notwithstanding the foregoing, the Committee may determine at the time of grant or thereafter
that a Non-Qualified Stock Option that is otherwise not Transferable pursuant to this Article IX is Transferable, in whole or
in part, to a “family member” as defined in Securities Act Form S-8 and under such conditions as specified by the Committee.

 

ARTICLE
X

 

CHANGE
IN CONTROL PROVISIONS

 

10.1
Benefits. In the event of a Change in Control of the Company, except as otherwise provided by the Committee upon the grant of
an Award, Awards granted to Participants shall not automatically vest upon a Change in Control and upon the Change in Control a Participant’s
Awards may be treated in accordance with one of the following methods, as determined by the Committee in its sole discretion, and without
the need for the consent of any Participant and without the need to treat each Award the same:

 

(a)
Awards, whether or not then vested, may be continued, assumed, have new rights substituted therefor or be treated in accordance with
Section 4.2(d) hereof, as determined by the Committee in its sole discretion, and restrictions to which any shares of Restricted
Stock or any other Award granted prior to the Change in Control are subject shall not lapse upon a Change in Control and the Restricted
Stock or other Award shall, where appropriate in the sole discretion of the Committee, receive the same distribution as other Common
Stock on such terms as determined by the Committee; provided that, the Committee may, in its sole discretion, decide to award additional
Restricted Stock or other Award in lieu of any cash distribution. Notwithstanding anything to the contrary herein, for purposes of Incentive
Stock Options, any assumed or substituted Stock Option shall comply with the requirements of Treasury Regulation § 1.424-1 (and
any amendments thereto).

 

    	17

     

    

 

(b)
Unvested Awards or any unvested portion thereof may be cancelled with or without consideration.

 

(c)
Awards may be canceled in exchange for an amount of cash equal to the Change in Control Price (as defined below) per share of Common
Stock covered by such Awards), less, in the case of an Appreciation Award, the exercise price per share of Common Stock covered by such
Award. The “Change in Control Price” means the price per share of Common Stock paid in the Change in Control
transaction, subject to adjustment as determined by the Committee for any contingent purchase price, escrow obligations, indemnification
obligations or other adjustments to the purchase price after the consummation of such Change in Control.

 

(d)
The Committee may, in its sole discretion, provide for the cancellation of any Appreciation Awards without payment, if the Change in
Control Price is equal to or less than the exercise price of such Appreciation Award.

 

Notwithstanding
anything else herein to the contrary: (x) In the discretion of the Committee, any cash or substitute consideration payable upon cancellation
of an Award may be subjected to (i) vesting terms substantially identical to those that applied to the cancelled Award immediately prior
to the Change in Control, or (ii) earn-out, escrow, holdback or similar arrangements, to the extent such arrangements are applicable
to any consideration paid to stockholders in connection with the Change in Control; and (y) in the case of any Award subject to Section
409A of the Code, the Committee shall only be permitted to take actions under this Section 10.1 to the extent that such actions
would be consistent with the intended treatment of such Award under Section 409A of the Code. Furthermore, notwithstanding anything else
herein, the Committee may, in its sole discretion, provide for accelerated vesting or lapse of restrictions, of an Award at any time.

 

10.2
Change in Control. A “Change in Control” shall be deemed to have occurred under any one or more of the
following events:

 

(a)
upon any “person” as such term is used in Sections 13(d) and 14(d) of the Exchange Act (other than the Company, any trustee
or other fiduciary holding securities under any employee benefit plan of the Company, or any company owned, directly or indirectly, by
the stockholders of the Company in substantially the same proportions as their ownership of Common Stock of the Company), becoming the
owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing thirty percent
(30%) or more of the combined voting power of the Company’s then outstanding securities;

 

    	18

     

    

 

(b)
during any period of two (2) consecutive years (the “Board Measurement Period”), individuals who at the beginning
of such period constitute the Board of Directors, and any new director (other than a director designated by a person who has entered
into an agreement with the Company to effect a transaction described in subsections 10.2(a), (c) or (d)) or a director whose initial
assumption of office occurs as a result of either an actual or threatened election contest (as such term is used in Rule 14a-11 of Regulation
14A promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a person
other than the Board of Directors of the Company whose election by the Board of Directors or nomination for election by the Company’s
stockholders was approved by a vote of at least two-thirds (the “Required Approval”) of the directors then
still in office who either were directors at the beginning of the Board Measurement Period or whose election or nomination for election
was previously so approved, cease for any reason to constitute at least a majority of the Board of Directors;

 

(c)
upon the consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which
would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the combined voting
power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; provided,
however, that a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no
person (other than those covered by the exceptions in (i) above) acquires more than fifty percent (50%) of the combined voting power
of the Company’s then outstanding securities shall not constitute a Change in Control of the Company;

 

(d)
upon approval by the stockholders of the Company of a plan of complete liquidation of the Company; or

 

(e)
upon the consummation of a sale or disposition by the Company of all or substantially all of the Company’s assets other than the
sale or disposition of all or substantially all of the assets of the Company to a person or persons who beneficially own, directly or
indirectly, at least fifty percent (50%) or more of the combined voting power of the outstanding voting securities of the Company at
the time of the sale.

 

Notwithstanding
anything in the Plan or an Award agreement to the contrary, to the extent necessary to comply with Section 409A of the Code, no event
that, but for the application of this sentence, would be a Change in Control as defined in the Plan or the Award agreement, as applicable,
shall be a Change in Control unless such event is also a “change in control event” as defined in Section 409A of the Code.

 

    	19

     

    

 

ARTICLE
XI

 

TERMINATION
OR AMENDMENT OF THE PLAN

 

11.1
Termination or Amendment. Notwithstanding any other provision of the Plan, the Board may at any time, and from time to time, amend,
in whole or in part, any or all of the provisions of the Plan (including any amendment deemed necessary to ensure compliance with any
regulatory requirement referred to in Article XIII or Section 409A of the Code), or suspend or terminate it entirely, retroactively or
otherwise; provided, however, that, unless otherwise required by law or specifically provided herein, the rights of a Participant with
respect to Awards granted prior to such amendment, suspension or termination, may not be impaired without the consent of such Participant
and, provided further, without the approval of the stockholders of the Company in accordance with the laws of the State of Delaware and
the exchange or system on which the Company’s securities are then listed or traded, or to the extent applicable to Incentive Stock
Options, Section 422 of the Code, no amendment may be made that would: (a) increase the aggregate number of shares of Common Stock that
may be issued under the Plan (except in accordance with Section 4.2; (b) increase the maximum individual Participant limits under
Section 4.1(b) (except in accordance with Section 4.2); (c) change the classification of individuals eligible to receive
Awards under the Plan; (d) other than adjustments or substitutions in accordance with Section 4.2, amend the terms of outstanding
Awards to reduce the exercise price of outstanding Exercisable Awards or to cancel outstanding Exercisable Awards (where prior to the
reduction or cancellation the exercise price equals or exceeds the fair market value of the shares of Common Stock underlying such Awards)
in exchange for cash, other Awards or Exercisable Awards with an exercise price that is less than the exercise price of the original
Exercisable Award; (e) extend the maximum option period under Section 6.3; (vii) award any Exercisable Award in replacement of
a canceled Exercisable Award with a higher exercise price, except in accordance with Section 6.3(f); or (f) require stockholder
approval under Section 422 of the Code to the extent applicable to Incentive Stock Options.

 

In
no event may the Plan be amended without the approval of the stockholders of the Company in accordance with the applicable laws of the
State of Delaware to increase the aggregate number of shares of Common Stock that may be issued under the Plan or to make any other amendment
that would require stockholder approval under the rules of any exchange or system on which the Company’s securities are listed
or traded at the request of the Company.

 

The
Committee may amend the terms of any Award theretofore granted, prospectively or retroactively, but, subject to Article IV above
or as otherwise specifically provided herein, no such amendment or other action by the Committee shall impair the rights of any holder
without the holder’s consent.

 

Notwithstanding
anything herein to the contrary, the Board may amend the Plan or any Award agreement at any time without a Participant’s consent
to comply with applicable law including Section 409A of the Code.

 

ARTICLE
XII

 

UNFUNDED
PLAN

 

12.1
Unfunded Status of Plan. The Plan is an “unfunded” plan for incentive and deferred compensation. With respect to any
payments as to which a Participant has a fixed and vested interest but which are not yet made to a Participant by the Company, nothing
contained herein shall give any such Participant any rights that are greater than those of a general unsecured creditor of the Company.

 

    	20

     

    

 

ARTICLE
XIII

 

GENERAL
PROVISIONS

 

13.1
Legend. The Committee may require each person receiving shares of Common Stock pursuant to an Award under the Plan to represent
to and agree with the Company in writing that the Participant is acquiring the shares without a view to distribution thereof. In addition
to any legend required by the Plan, the certificates for such shares may include any legend which the Committee deems appropriate to
reflect any restrictions on Transfer.

 

All
certificates for shares of Common Stock delivered under the Plan shall be subject to such stop transfer orders and other restrictions
as the Committee may deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, any
stock exchange upon which the Common Stock is then listed or any national securities exchange system upon whose system the Common Stock
is then quoted, any applicable Federal or state securities law, and any applicable corporate law, and the Committee may cause a legend
or legends to be put on any such certificates to make appropriate reference to such restrictions.

 

13.2
Other Plans. Nothing contained in the Plan shall prevent the Board from adopting other or additional compensation arrangements,
subject to stockholder approval if such approval is required; and such arrangements may be either generally applicable or applicable
only in specific cases.

 

13.3
No Right to Employment/Directorship/Consultancy. Neither the Plan nor the grant of any Award hereunder shall give any Participant
or other employee, Consultant or Non-Employee Director any right with respect to continuance of employment, directorship or consultancy
by the Company or any Affiliate, nor shall they be a limitation in any way on the right of the Company or any Affiliate by which an employee
is employed or a Consultant or Non-Employee Director is retained to terminate his employment, consultancy or directorship at any time.
Neither the Plan nor the grant of any Award hereunder shall impose any obligations on the Company to retain any Participant as a director
nor shall it impose on the part of any Participant any obligation to remain as a director of the Company.

 

13.4
Withholding of Taxes. The Company shall have the right to deduct from any payment to be made pursuant to the Plan, or to otherwise
require, prior to the issuance or delivery of any shares of Common Stock or the payment of any cash thereunder, payment by the Participant
of, any Federal, state, local or other taxes required by law to be withheld. Upon the vesting of Restricted Stock (or other Award that
is taxable upon vesting), or upon making an election under Section 83(b) of the Code, a Participant shall pay all required withholding
to the Company. Any required or permitted withholding obligation with regard to any Participant may be satisfied, subject to the consent
of the Committee, by reducing the number of shares of Common Stock otherwise deliverable or by delivering shares of Common Stock already
owned, but in any case not in excess of the amount determined based on the maximum statutory tax rate in the applicable jurisdiction.
Any fraction of a share of Common Stock required to satisfy such tax obligations shall be disregarded and the amount due shall be paid
instead in cash by the Participant.

 

    	21

     

    

 

13.5
Listing and Other Conditions.

 

(a)
Unless otherwise determined by the Committee, as long as the Common Stock is listed on a national securities exchange or system sponsored
by a national securities association, the issue of any shares of Common Stock pursuant to an Award shall be conditioned upon such shares
being listed on such exchange or system. The Company shall have no obligation to issue such shares unless and until such shares are so
listed, and the right to exercise any Stock Option with respect to such shares shall be suspended until such listing has been effected.

 

(b)
If at any time counsel to the Company shall be of the opinion that any sale or delivery of shares of Common Stock pursuant to an Award
is or may in the circumstances be unlawful or result in the imposition of excise taxes on the Company under the statutes, rules or regulations
of any applicable jurisdiction, the Company shall have no obligation to make such sale or delivery, or to make any application or to
effect or to maintain any qualification or registration under the Securities Act or otherwise with respect to shares of Common Stock
or Awards, and the right to exercise any Stock Option shall be suspended until, in the opinion of said counsel, such sale or delivery
shall be lawful or will not result in the imposition of excise taxes on the Company.

 

(c)
Upon termination of any period of suspension under this Section 13.5any Award affected by such suspension which shall not then have expired
or terminated shall be reinstated as to all shares available before such suspension and as to shares which would otherwise have become
available during the period of such suspension, but no such suspension shall extend the term of any Stock Option.

 

(d)
A Participant shall be required to supply the Company with any certificates, representations and information that the Company requests
and otherwise cooperate with the Company in obtaining any listing, registration, qualification, exemption, consent or approval the Company
deems necessary or appropriate.

 

(e)
The Company shall not be obligated to issue any shares of Common Stock to a Participant if, in the opinion of counsel for the Company,
the issuance of such Common Stock will constitute a violation by the Participant or the Company of any provisions of any rule or regulation
of any governmental authority or any national securities exchange.

 

13.6
Governing Law. The Plan and actions taken in connection herewith shall be governed and construed in accordance with the laws of
the State of Delaware (i.e., the state in which the Company is incorporated, regardless of the law that might otherwise govern under
the applicable state law principles governing conflict of laws).

 

13.7
Construction. Wherever any words are used in the Plan in the masculine gender they shall be construed as though they were also
used in the feminine gender in all cases where they would so apply, and wherever any words are used herein in the singular form they
shall be construed as though they were also used in the plural form in all cases where they would so apply.

 

13.8
Other Benefits. No Award granted or paid under the Plan shall be deemed compensation for purposes of computing benefits under
any retirement plan of the Company or its subsidiaries nor affect any benefits under any other benefit plan now or subsequently in effect
under which the availability or amount of benefits is related to the level of compensation, except to the extent expressly set forth
in any such retirement or other benefit plan.

 

    	22

     

    

 

13.9
Costs. The Company shall bear all expenses included in administering the Plan, including expenses of issuing Common Stock pursuant
to any Awards hereunder.

 

13.10
No Right to Same Benefits. The provisions of Awards need not be the same with respect to each Participant, and such Awards
to individual Participants need not be the same in subsequent years.

 

13.11
Death/Disability. The Committee may in its discretion require the transferee of a Participant to supply it with written notice
of the Participant’s death or Disability and to supply it with a copy of the will (in the case of the Participant’s death)
or such other evidence as the Committee deems necessary to establish the validity of the transfer of an Award. The Committee may also
require that the agreement of the transferee to be bound by all of the terms and conditions of the Plan.

 

13.12
Section 16(b) of the Exchange Act. All elections and transactions under the Plan by persons subject to Section 16 of the
Exchange Act involving shares of Common Stock are intended to comply with all exemptive conditions under Rule 16b-3. The Committee may
establish and adopt written administrative guidelines, designed to facilitate compliance with Section 16(b) of the Exchange Act, as it
may deem necessary or proper for the administration and operation of the Plan and the transaction of business thereunder.

 

13.13
Section 409A of the Code.

 

(a)
Although the Company does not guarantee the particular tax treatment of an Award granted under the Plan, Awards made under the Plan are
intended to comply with, or be exempt from, the applicable requirements of Section 409A of the Code and the Plan and any Award agreement
hereunder shall be limited, construed and interpreted in accordance with such intent. In no event whatsoever shall the Company or any
of its Affiliates be liable for any additional tax, interest or penalties that may be imposed on a Participant by Section 409A of the
Code or any damages for failing to comply with Section 409A of the Code.

 

(b)
Notwithstanding anything in the Plan or in an Award to the contrary, the following provisions shall apply to any Award granted under
the Plan that constitutes a 409A Covered Award:

 

(i)
A termination of employment shall not be deemed to have occurred for purposes of any provision of a 409A Covered Award providing for
payment upon or following a termination of the Participant’s employment unless such termination is also a “Separation from
Service” within the meaning of Code Section 409A and, for purposes of any such provision of the 409A Covered Award, references
to a “termination,” “termination of employment” or like terms shall mean Separation from Service. Notwithstanding
any provision to the contrary in the Plan or the Award, if the Participant is deemed on the date of the Participant’s Termination
to be a “specified employee” within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification
methodology selected by the Company from time to time, or if none, the default methodology set forth in Code Section 409A, then with
regard to any such payment under a 409A Covered Award, to the extent required to be delayed in compliance with Section 409A(a)(2)(B)
of the Code, such payment shall not be made prior to the earlier of (i) the expiration of the six (6)-month period measured from the
date of the Participant’s Separation from Service, and (ii) the date of the Participant’s death. All payments delayed pursuant
to this Section 13.13(b)(i) shall be paid to the Participant on the first day of the seventh month following the date of the Participant’s
Separation from Service or, if earlier, on the date of the Participant’s death.

 

    	23

     

    

 

(ii)
Whenever a payment under a 409A Covered Award specifies a payment period with reference to a number of days, the actual date of payment
within the specified period shall be within the sole discretion of the Company.

 

13.14
Successor and Assigns. The Plan shall be binding on all successors and permitted assigns of a Participant, including, without
limitation, the estate of such Participant and the executor, administrator or trustee of such estate.

 

13.15
Severability of Provisions. If any provision of the Plan shall be held invalid or unenforceable, such invalidity or unenforceability
shall not affect any other provisions hereof, and the Plan shall be construed and enforced as if such provisions had not been included.

 

13.16
Payments to Minors, Etc. Any benefit payable to or for the benefit of a minor, an incompetent person or other person incapable
of receipt thereof shall be deemed paid when paid to such person’s guardian or to the party providing or reasonably appearing to
provide for the care of such person, and such payment shall fully discharge the Committee, the Board, the Company, its Affiliates and
their employees, agents and representatives with respect thereto.

 

13.17
Headings and Captions. The headings and captions herein are provided for reference and convenience only, shall not be considered
part of the Plan, and shall not be employed in the construction of the Plan

 

13.18
Recoupment. All Awards granted or other compensation paid by the Company under the Plan, including any shares of Common Stock
issued under any Award thereunder, will be subject to: (a) any compensation recapture policies adopted or established by the Board or
a committee of the Board from time to time, as it deems advisable, to the extent permitted by applicable law and applicable stock exchange
rules, and (b) any compensation recapture policies to the extent required pursuant to any applicable law (including, without limitation,
the Dodd-Frank Wall Street Reform and Consumer Protection Act, or other applicable law) or the rules and regulations of any national
securities exchange on which the shares of Common Stock are then traded. The Committee shall be permitted, in its sole discretion, to
determine at the time an Award is granted to a Participant under the Plan that such Award will be subject to forfeiture and recoupment
in the event the Participant violates or breaches any restrictive covenants set forth in a written agreement between the Participant
and the Company or any of its Affiliates, including an Award agreement under the Plan.

 

ARTICLE
XIV

 

EFFECTIVE
DATE OF PLAN

 

The
Ensysce Biosciences, Inc. 2021 Omnibus Incentive Plan was originally adopted by the Board on May 26, 2021, and by the stockholders of
the Company on June 28, 2021 (the “Original Effective Date”). This amendment and restatement of the Ensysce Biosciences,
Inc. 2021 Omnibus Incentive Plan (otherwise referred to herein as the “Plan”) was adopted by the Board on November 16, 2021,
subject to and effective upon the date the Plan is approved by the stockholders of the Company. The Plan was approved by the stockholders
of the Company on January 26, 2022 (the “Restatement Effective Date”).

 

ARTICLE
XV

 

TERM
OF PLAN

 

No
Award shall be granted pursuant to the Plan on or after the tenth anniversary of the date the amendment and restatement of the Plan was
adopted by the Board (i.e. November 16, 2031), provided that Awards granted prior to such tenth anniversary may extend beyond that date
in accordance with the terms and conditions of the Plan.

 

    	24

     

    

 

EXHIBIT
A

 

PERFORMANCE
GOALS

 

Performance
Goals established for purposes of the grant and/or vesting of Awards may be based on one or more of the following (“Performance
Goals”): (i) the attainment of certain target levels of, or a specified percentage increase in, revenues, earnings, income
before taxes and non-recurring items, net income, operating income, earnings before income tax, earnings before interest, taxes, depreciation
and amortization or a combination of any or all of the foregoing; (ii) the attainment of certain target levels of, or a percentage increase
in, after-tax or pre-tax profits including, without limitation, that attributable to continuing and/or other operations; (iii) the attainment
of certain target levels of, or a specified increase in, operational cash flow; (iv) the achievement of a certain level of, reduction
of, or other specified objectives with regard to limiting the level of increase in, all or a portion of, the Company’s bank debt
or other long-term or short-term public or private debt or other similar financial obligations of the Company, which may be calculated
net of such cash balances and/or other offsets and adjustments as may be established by the Committee; (v) earnings per share or the
attainment of a specified percentage increase in earnings per share or earnings per share from continuing operations; (vi) the attainment
of certain target levels of, or a specified increase in return on, capital employed or return on invested capital; (vii) the attainment
of certain target levels of, or a percentage increase in, after-tax or pre-tax return on stockholders’ equity; (viii) the attainment
of certain target levels of, or a specified increase in, economic value added targets based on a cash flow return on investment formula;
(ix) the attainment of certain target levels in, or specified increases in, the fair market value of the shares of the Company’s
common stock; (x) the growth in the value of an investment in the Company’s common stock assuming the reinvestment of dividends;
(xi) the filing of a new drug application (“NDA”) or the approval of the NDA by the Food and Drug Administration; (xii) the
achievement of a launch of a new drug; (xiii) research and development milestones; (xiv) the successful completion of clinical trial
phases, (xv) the attainment of a certain level of, reduction of, or other specified objectives with regard to limiting the level in or
increase in, all or a portion of controllable expenses or costs or other expenses or costs; (xvi) gross or net sales, revenue and growth
of sales revenue (either before or after cost of goods, selling and general administrative expenses, research and development expenses
and any other expenses or interest); (xvii) total stockholder return; (xviii) return on assets or net assets; (xix) return on sales;
(xx) operating profit or net operating profit; (xxi) operating margin; (xxii) gross or net profit margin; (xxiii) cost reductions or
savings or other expense control targets; (xxiv) productivity or productivity ratios; (xxv) operating efficiency; (xxvi) customer satisfaction;
(xxvii) working capital; (xxviii) market share; (xxix) strategic business criteria, consisting of one or more objectives based on meeting
specified revenue, market penetration, geographic business expansion goals, objectively identified project milestones, production volume
levels, cost targets, and goals relating to acquisitions or divestitures; (xxx) aggregate product price and other product price measures;
(xxxi) safety record; (xxxii) personal management objectives or achievement of objective business and operational goals, such as market
share, new products, and/or business development; and (xxxiii) achievement of specified milestones in the manufacturing or commercialization
of one or more of our products.

 

    	A-1

     

    

 

The
foregoing list of Performance Goals is not exhaustive and the Committee shall have the discretion to establish such other Performance
Goals as the Committee deems appropriate from time to time. In addition, such Performance Goals may be based upon the attainment of specified
levels of Company (or subsidiary, division, other operational unit or administrative department of the company) performance under one
or more of the Performance Goals either in absolute terms or as compared to any incremental increase or decrease or as compared to results
of a peer group or to market performance indicators or indices.

 

The
Committee may, in its sole discretion, provide that one or more adjustments shall be made to one or more of the Performance Goals. Such
adjustments may include, without limitation, one or more of the following: (i) items related to a change in accounting principle; (ii)
items relating to financing activities; (iii) expenses for restructuring or productivity initiatives; (iv) other non-operating items;
(v) items related to acquisitions; (vi) items attributable to the business operations of any entity acquired by the Company during the
period over which the Performance Goals are measured; (vii) items related to the disposal of a business or segment of a business; items
related to discontinued operations that do not qualify as a segment of a business under Generally Accepted Accounting Principles (“GAAP”);
(viii) items attributable to any stock dividend, stock split, combination or exchange of stock occurring during the period over which
the Performance Goals are measured; (ix) any other items of significant income or expense which are determined to be appropriate adjustments;
(x) items relating to unusual or extraordinary corporate transactions, events or developments; (xi) items related to amortization of
acquired intangible assets; (xii) items that are outside the scope of the Company’s core, on-going business activities; (xiii)
items related to acquired in-process research and development; (xiv) items relating to changes in tax laws; (xv) items relating to major
licensing or partnership arrangements; (xvi) items relating to asset impairment charges; (xvii) items relating to gains or losses for
litigation, arbitration and contractual settlements; (xviii) items attributable to expenses incurred in connection with a reduction in
force or early retirement initiative; (xix) items relating to any other unusual or nonrecurring events or changes in applicable law,
accounting principles or business conditions; or (xx) such other adjustments the Committee determines appropriate, in its sole discretion,
taking into account such factors that the Committee deems relevant. The Committee shall have the discretion to determine whether, when
and to what extent an adjustment is necessary or advisable based upon consideration of such factors the Committee deems appropriate in
light of the facts and circumstances.

 

    	A-2

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