Document:

EX-4.15

 Exhibit 4.15 

SECOND TRANCHE WARRANT 
 NEITHER THIS
SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE. SUCH SECURITIES MAY NOT BE SOLD, OFFERED FOR
SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO SUCH SECURITIES UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS, AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH MUST BE REASONABLY ACCEPTABLE TO THE COMPANY. 

COMMON STOCK PURCHASE WARRANT 

VERITONE, INC. 
  

			
	Warrant Amount	  	Date of Issuance: November 25, 2016

 THIS COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received,
Veritone, Inc., a Delaware corporation (the “Company”), hereby grants to Acacia Research Corporation, a Delaware corporation (the “Holder”), subject to the terms and conditions set forth herein, the right to
purchase up to a number of shares of common stock, par value $0.001 per share, of the Company (the “Common Stock”) equal to the quotient that results from dividing the Warrant Amount by the then applicable Exercise
Price (as defined in Section 3(b)) (the “Warrant Shares”). The “Warrant Amount” means Seven Hundred Thousand Dollars ($700,000), as adjusted from to time to time pursuant to the terms and
conditions hereof. At the time of any exercise of this Warrant in accordance with Section 3(a) (each, an “Exercise”), the purchase price of one (1) share of Common Stock under this Warrant shall be equal to the then
applicable Exercise Price. 
 Section 1. Definitions. Capitalized terms used and not otherwise defined
herein shall have the meanings set forth in that certain secured promissory note (the “Secured Promissory Note”), dated as of August 15, 2016, by and among Acacia Research Corporation (“Acacia”) and the
Company. 
 Section 2. Term. The Holder is entitled, at any time on or after the date hereof and at or
prior to the close of business on the fourth anniversary of the date hereof (the “Termination Date”) but not thereafter, to subscribe for and purchase all or any portion of the Warrant Shares from the Company, upon the terms and
subject to the conditions set forth herein. Notwithstanding anything to the contrary herein, upon an Uncured Material Breach of any of the Transaction Agreements by Acacia, this Warrant will be, at the Company’s written election, null and void
ab initio. 

  
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 Section 3. Exercise. 

a) Exercise of the purchase rights represented by this Warrant may be made in whole or in part, at any time or times on or after the date
hereof and on or before the Termination Date, by delivery to the Company (or such other office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of the
Company) of a duly executed facsimile copy of the Notice of Exercise Form annexed hereto (a “Notice of Exercise”). Within three (3) Business Days following the date of Exercise as aforesaid, the Holder shall deliver to the
Company (i) the aggregate Exercise Price for the Warrant Shares specified in the applicable Notice of Exercise, by wire transfer or cashier’s check drawn on a United States bank, and (ii) this Warrant and/or any certificate or
certificates representing this Warrant. Partial Exercises of this Warrant resulting in purchases of a portion of the Warrant Amount available at the time of such Exercise shall have the effect of lowering the Warrant Amount by such portion. The
Holder and the Company shall maintain records showing the portions of the Warrant Amount purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise within two (2) Business Days of receipt of such
notice. 
 b) Exercise Price. The exercise price per share of the Common Stock under this Warrant shall be, if such Exercise occurs
(i) after the Maturity Date, and a Next Equity Financing was not consummated, and the Company has not made an initial filing of a Registration Statement, at or prior to the Maturity Date, $4.85, (ii) if a Next Equity Financing was consummated
at or prior to the Maturity Date, during the period beginning on the date of closing of such Next Equity Financing (or, if such Next Equity Financing occurred prior to the funding of the Second Tranche Loan under the Secured Promissory Note, the
date hereof), and ending on (and including) the date on which the Company initially files a Registration Statement with the Securities and Exchange Commission for a Public Offering (such date, the “Filing Date”), the price per share
of the Equity Securities issued in such Next Equity Financing, or (iii) at any other time, (x) $8.2394 (or, if such Exercise occurs following the conversion of the entire Convertible Amount (from inception of the Secured Promissory Note) into
Conversion Shares, $8.1653), in each case subject to adjustment as provided in Section 4 (the “Exercise Price”). 

c) [Intentionally omitted.] 
 d)
Mechanics of Exercise.  
 i. Delivery of Certificates Upon Exercise. (a) Subject to
the receipt (I) by the Company of a completed Notice of Exercise, the aggregate Exercise Price in cash in accordance with Section 3(b), any supporting documents (including, without limitation, a stockholder
representation letter) reasonably requested by the Company from the Holder in the event the transfer agent for the company, if any (the “Transfer Agent”), requires a letter of instruction or legal opinion to complete conversion, in
whole or in part, of the Warrant and movement of any Warrant Shares, and the Warrant and/or any certificate or certificates representing this Warrant, and (II) by the Company or the Transfer Agent of any documents or paperwork required or
requested by the Transfer Agent in connection with the exercise of the Warrant (including, without limitation, an instruction letter or letters prepared, executed and medallion-guaranteed by the Holder’s

  
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brokers and/or custodians) and (b) assuming the Company has not objected to the Notice of Exercise in accordance with Section 3(a), evidence of the Warrant Shares
purchased hereunder shall be transmitted by the Company or the Transfer Agent, as applicable, to the Holder by (x) by book-entry in the books and records of the Company, or (y) otherwise by physical delivery to the address specified by the
Holder in the Notice of Exercise, in the case of each of clause (x) and (y) of this sentence, by the date that is three (3) Business Days after the delivery of the last of the items and payment of the aggregate Exercise Price set forth
above described in clause (a) of this sentence (such date, the “Warrant Share Delivery Date”). Such Warrant Shares shall be deemed to have been issued, and Holder or any other person designated as the recipient thereof in the
Notice of Exercise shall be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised, with payment to the Company of the then applicable Exercise Price and all taxes required to be paid
by the Holder, if any, pursuant to Section 3(d)(vi) prior to the issuance of such shares, having been paid. 

ii. Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the
time of delivery of the evidence representing the issued Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Amount called for by this Warrant, which new Warrant shall in all
other respects be identical with this Warrant and, if such Warrants are certificated, a new certificate or certificates representing the new Warrant. 

iii. [Intentionally omitted.] 

iv. [Intentionally omitted.] 

v. No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the
exercise of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount
equal to such fraction multiplied by the then applicable Exercise Price or round up to the next whole share. 
 vi.
Charges, Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes
and expenses shall be paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however, that in the event certificates for Warrant Shares
are to be issued in a name other than the name of the Holder (in accordance with and subject to the provisions of Section 5), this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached
hereto duly executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise. 

  
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 vii. Closing of Books. The Company will not close its stockholder books or
records in any manner which prevents the timely exercise of this Warrant, pursuant to the terms hereof. 

Section 4. Certain Adjustments. 

a) Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or
otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued
by the Company (x) upon exercise of this Warrant or (y) pursuant to a stock option plan or any similar employee compensation plan that is approved by the Company’s board of directors), (ii) subdivides outstanding shares of Common
Stock into a larger number of shares, or (iii) combines (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, then in each such case, at the time of any Exercise, the then applicable
Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding
immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the then applicable Warrant Amount shall remain unchanged. Any adjustment made pursuant to this
Section 4(a) shall become effective immediately after the effective date or payment date, as applicable, of such dividend, distribution, subdivision, or combination. 

b) [Intentionally omitted.] 
 c)
[Intentionally omitted.] 
 d) Fundamental Transaction. If a Fundamental Transaction occurs at any time while this Warrant is
outstanding, then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the consummation of such Fundamental
Transaction, at the option of the Holder, the number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate
Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction. For purposes of any such
exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental
Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common Stock are given
any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental
Transaction. 

  
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 For purposes hereof, “Fundamental Transaction” means the consummation of any
transaction, or a series of related transactions, in which the Company, directly or indirectly, (i) consummates a stock sale to, or effects any merger, consolidation or other business combination (including, without limitation, a
reorganization, recapitalization, spin-off or scheme of arrangement) with, another Person or group of Persons, whereby, in the case of any transaction(s) under this clause (i), such other Person or group of
Persons acquires more than 50% of the total voting power of the then outstanding shares of capital stock of the Company, (ii) effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of
its assets or (iii) effects any reclassification, reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash
or property, provided that in no event shall a Public Offering be deemed a Fundamental Transaction. 
 e) Calculations. All
calculations under this Section 4 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this Section 4, the number of shares of Common Stock or capital stock of the
Company, as applicable, deemed to be outstanding as of a given date shall be the sum of the number of shares of Common Stock or, for purposes of the definition of “Fundamental Transaction”, capital stock of the Company (excluding treasury
shares, if any) outstanding. 
 f) Notice to Holder. 

i. Adjustment to Exercise Price. Whenever there occurs an event that would require adjustment of the Exercise Price
pursuant to any provision of this Section 4, the Company shall promptly mail to the Holder a notice setting forth the then applicable Exercise Price after such adjustment and any resulting adjustment to the number of
Warrant Shares then issuable and setting forth a brief statement of the facts requiring such adjustment. For purposes hereof, a notice delivered within ten (10) calendar days of an event resulting in an adjustment shall be deemed to have been
timely delivered. 
 ii. Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any
other distribution in whatever form) on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall authorize the granting to all holders of the Common
Stock rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any reclassification of the Common Stock,
any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted into other securities, cash or
property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered to the Holder at its last address or
facsimile number as it shall appear upon the Warrant Register of the Company, at least twenty (20) calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to
be taken for the purpose of such dividend, distribution, redemption, 

  
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rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or
warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common
Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to
deliver such notice or any defect therein or in the delivering thereof shall not affect the validity of the corporate action required to be specified in such notice. If the Company is subject to Section 13 or Section 15(d) of the
Securities Exchange Act of 1934, as amended, at the time of any notice provided hereunder, to the extent that such notice constitutes, or contains, material, non-public information regarding the Company or any
of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period
commencing on the date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein. 

iii. Notice of Filing Date. The Company shall provide Acacia with not less than fifteen (15) Business Days’
advance notice of any Filing Date. 
 Section 5. Transfer of Warrant. 

a) Transferability. The Holder shall not, in whole or in part, directly or indirectly, transfer, assign, sell, gift-over, hedge, pledge,
hypothecate or otherwise dispose of this Warrant and all rights hereunder, or, prior to the Company’s first Public Offering, the Warrant Shares (a “Transfer”), unless (i) the Holder shall have received the prior written
consent of the Company (such consent not to be unreasonably withheld) or (ii) the transferee is an Affiliate of Acacia (i) which is Controlled by Acacia and (ii) at least a majority of the equity securities of which Acacia owns,
directly or indirectly. The Holder further agrees not to make any disposition of all or any portion of the Warrant Shares unless and until (i) the transferee has agreed in writing for the benefit of the Company to make such representations and
warranties as are reasonable and customary in a private placement of securities and the undertakings set out in Section 6(d) of the Secured Promissory Note, mutatis mutandis, and (ii) the Holder has (A) notified the Company of
the proposed disposition, (B) furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, and (C) if requested by the Company, furnished the Company with an opinion of counsel reasonably
satisfactory to the Company that such disposition will not require registration under the Securities Act. The Holder agrees not to make any disposition of any of the Warrant Shares to (I) any of the Company’s competitors, as determined in
good faith by the Company, or (II) without the prior consent of the board of directors of the Company (not to be unreasonably withheld), any Person or group of Persons who has filed a Schedule 13D or would, as a result of acquiring any Warrant
Shares from the Holder, be required to file under Schedule 13D. Any Transfer of this Warrant or any Warrant Shares in violation of the terms and conditions of this Warrant, including the immediately preceding provisions of this
Section 5(a), will be null and void ab initio. Subject to compliance with applicable federal and state security laws, any Transfer permitted under this Section 5(a) shall occur upon
surrender of this Warrant at the principal office of the Company or 

  
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its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay
any transfer taxes payable upon the making of such transfer. In connection with any such Transfer (if made other than pursuant to an effective registration statement under the Securities Act), the Company may require the transferor thereof to
provide to the Company an opinion of counsel selected by the transferor and reasonably acceptable to the Company, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such Transfer does not
require registration of such transferred securities under the Securities Act. Upon (i) such surrender, (ii) if required, such payment, and (iii) if required, such opinion, the Company shall execute and deliver a new Warrant or
Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so
assigned, and this Warrant shall promptly be cancelled. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued. 

b) New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the
Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with Section 5(a), as to any
Transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on
transfers or exchanges shall be dated the initial issuance date of this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto. 

c) Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the
“Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any
distribution to the Holder, and for all other purposes, absent actual notice to the contrary. 
 Section 6.
Representations and Warranties of the Holder 
 a) Purchase for Own Account. This Warrant and the Warrant
Shares will be acquired for investment for the Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the Securities Act and the Holder has no present intention, and upon
exercise or conversion will have no intention, of selling or engaging in any public distribution of the same except pursuant to a registration or exemption. The Holder also represents that the Holder has not been formed for the specific purpose of
acquiring this Warrant or the Warrant Shares. 
 b) Disclosure of Information. The Holder has received or has had full
access to all the information it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant and the Warrant Shares. The Holder further has had an opportunity to ask questions and
receive answers from the Company regarding the terms and conditions of the offering of this Warrant and the Warrant Shares and to obtain additional information (to the extent the Company possessed such information or could acquire it without
unreasonable effort or expense) necessary to verify any information furnished to the Holder or to which the Holder has access. 

  
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 c) Investment Experience. The Holder understands that the purchase of this
Warrant and the Warrant Shares involves substantial risk. The Holder acknowledges that the Holder can bear the economic risk of such Holder’s investment in this Warrant and the Warrant Shares and has such knowledge and experience in financial
or business matters that the Holder is capable of evaluating the merits and risks of its investment in this Warrant and the Warrant Shares. 

d) Accredited Investor Status. The Holder is an “accredited investor” within the meaning of Regulation D
promulgated under the Securities Act. 
 e) The Securities Act. The Holder understands that this Warrant and the
Warrant Shares have not been registered under the Securities Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the Holder’s investment intent as expressed herein. The
Holder understands that this Warrant and the Warrant Shares must be held indefinitely unless subsequently registered under the Securities Act and qualified under applicable state securities laws, or unless exemption from such registration and
qualification are otherwise available. The Holder further understands that settlement of this Warrant is to be made in shares of Common Stock and, for the elimination of doubt, the fact that the shares of Common Stock delivered on exercise of this
Warrant will not be registered under the Securities Act (as defined below) will not in any way require the Company to settle this Warrant otherwise than in shares of Common Stock, including, without limitation, that there is no circumstance that
would require the Company to settle this Warrant in cash. 
 Section 7. [Intentionally omitted.] 

Section 8. Section 6. Miscellaneous. 

a) Legends. All certificates evidencing the Warrant Shares shall bear the following legend: 

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS
OF ANY STATE. SUCH SECURITIES MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO SUCH SECURITIES UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A
TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS, AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE
REASONABLY ACCEPTABLE TO THE COMPANY. 

  
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 b) No Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to
any voting rights, dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 3(d)(i). 

c) Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case of loss, theft or destruction, the posting by the Holder of a bond in customary amount as the
Company may reasonably require as indemnity or security reasonably satisfactory to it, and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate of
like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate. 
 d) Authorized Shares. 

i. The Company covenants that, to the extent reasonably practicable, during the period the Warrant is outstanding, it will
reserve from its authorized and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant. The Company further covenants that its issuance of
this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for the Warrant Shares upon the exercise of the purchase rights under this
Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the applicable Public
Trading Market. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such
Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer
occurring contemporaneously with such issue). 
 ii. Except and to the extent as waived or consented to by the Holder, the
Company shall not by any action, including, without limitation, amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary
action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or
appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the Company will (A) not increase the par value of any Warrant Shares above the amount payable
therefor upon exercise immediately prior to such exercise of which the Company has received a Notice of Exercise, (B) take all such action as may be 

  
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necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (C) use commercially
reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant. 

iii. Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is
exercisable or in the Exercise Price, in each case pursuant to Section 4, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or
bodies having jurisdiction thereof. 
 e) Jurisdiction. All disputes concerning the construction, validity, enforcement and
interpretation of this Warrant shall be resolved in accordance with Section 14 of the Secured Promissory Note, mutatis mutandis. 

f) Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered pursuant
to an effective registration statement, will have restrictions upon resale imposed by state and federal securities laws. 
 g) Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any
other provision of any of the Transaction Agreements, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as
shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise
enforcing any of its rights, powers or remedies hereunder. 
 h) Notices. Any notice, request or other document required or permitted
to be given or delivered to the Holder by the Company shall be delivered in accordance with Section 17 of the Secured Promissory Note, mutatis mutandis. 

i) Limitation of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to
purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is
asserted by the Company or by creditors of the Company. 
 j) Remedies. The Holder, in addition to being entitled to exercise all
rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant, and the Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a
breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate. 

  
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 k) Successors and Assigns. Subject to applicable securities laws and compliance with
Section 5(a), this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of
the Holder. The Company may assign its rights and obligations under this Warrant without the written consent of the Holder or any holder of Warrant Shares to any purchaser of all or substantially all of the Company’s assets or capital stock or
another acquirer of the Company or its business through a Fundamental Transaction. The provisions of this Warrant are intended to be for the benefit of any permitted Holder from time to time of this Warrant and shall be enforceable by the Holder or
holder of Warrant Shares. 
 l) Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written
consent of the Company and the Holder. 
 m) Severability. Wherever possible, each provision of this Warrant shall be interpreted in
such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without
invalidating the remainder of such provisions or the remaining provisions of this Warrant. 

  
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 n) Headings. The headings used in this Warrant are for the convenience of reference only
and shall not, for any purpose, be deemed a part of this Warrant. 
 o) Confidential Information. Acacia (which for purposes of this
Section 8(o) will include any other permitted Holder hereof) agrees to keep confidential and not disclose, divulge or use for any purpose (other than to monitor its investment in the Company or to enforce its rights under
any of the Transaction Agreements) any information obtained from the Company or any of its Subsidiaries (including notice of the Company’s intention to file a registration statement) that the Company believes to be confidential information,
unless such confidential information (i) is known or becomes known to the public in general (other than as a result of a breach of this Section 8(o) by Acacia), (ii) is or has been independently developed or conceived
by Acacia or any of its Subsidiaries without use of the Company’s confidential information or (iii) has been made known or disclosed to Acacia by a third party without a breach of any obligation of confidentiality such third party may have
to the Company; provided that Acacia may disclose confidential information (A) to its attorneys, accountants, consultants and other professionals to the extent necessary to obtain their services in connection with monitoring its
investment in the Company or to enforce its rights under any of the Transaction Agreements, (B) to any wholly owned Subsidiary of Acacia in the ordinary course of business; provided, that, with respect to the foregoing clauses
(A) and (B), Acacia informs such Persons of the proprietary interest and nature of such confidential information and of the recipient’s obligations, as applicable, to keep such information confidential, or (C) to the extent that
disclosure of such confidential information is compelled by judicial or administrative process or by other requirements of applicable law, provided that, to the extent permitted by applicable law, Acacia promptly notifies the Company of any
such request or requirement, discloses only that portion of the confidential information that its legal counsel advises in writing is required to be disclosed and reasonably cooperates with any efforts by the Company to obtain an appropriate
protective order or confidential treatment of such confidential information that is or is proposed to be disclosed. 
 [Signature Page
Follows] 

  
 12 

 IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto
duly authorized as of the date first above indicated. 
  

			
	Company:
	
	VERITONE, INC.
		
	By:	 	 /s/ Peter F. Collins

		 	Name: Peter F. Collins
		 	Title: Chief Financial Officer
	
	Holder:
	
	ACACIA RESEARCH CORPORATION
		
	By:	 	 /s/ Clayton J. Haynes

		 	Name: Clayton J. Haynes
		 	Title: CFO

 [Signature Page to Form of Warrant] 

 NOTICE OF EXERCISE 

 

	TO:	VERITONE, INC. 

 (1) The undersigned hereby elects to exercise
$             of the Warrant Amount for Warrant Shares of the Company pursuant to the terms of the attached Warrant, and tenders herewith payment of the aggregate exercise price in full in
cash for such exercise, together with all applicable transfer taxes, if any. 
 (2) Please issue a certificate or certificates representing
said Warrant Shares in the name of the undersigned or in such other name as is specified below: 
  

 
 The Warrant Shares shall be
delivered (a) by book-entry in the books and records of the Company, or (b) by physical delivery of a certificate to the following address: 
  

 
  

 
  

 
 Name of Investing Entity:
ACACIA RESEARCH CORPORATION 
  

			
	Signature of Authorized Signatory of Investing Entity:	 	  

			
		
	Name of Authorized Signatory:	 	  

			
		
	Title of Authorized Signatory:	 	  

			
		
	Date:	 	  

 ASSIGNMENT FORM 

(To assign the foregoing warrant, execute 

this form and supply required information. 

Do not use this form to exercise the warrant.) 

VERITONE, INC. 
 FOR VALUE
RECEIVED, [        ] all of or [                ] shares of the foregoing Warrant and all rights evidenced thereby are hereby
assigned to 

                          
                                         
                                         
                                         
                    whose address is 

                          
                                         
                                         
                                         
                                         
      . 
  

                          
                                         
                                         
                                         
                                         
       
 Dated: ______________,
_______                                        
     
  

			
	Holder’s Signature:	 	  

		
	Holder’s Address:	 	  

		
		 	  

 Signature Guaranteed: ___________________________________________ 

NOTE: The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement or any
change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.Exhibit
10.1 

 

Appendix
A

 

1347
PROPERTY INSURANCE HOLDINGS, INC.

2018 EQUITY INCENTIVE PLAN

 

1.
Establishment, Purpose, Duration.

 

a.
Establishment. 1347 Property Insurance Holdings, Inc. (the “Company”) hereby establishes an equity compensation
plan to be known as the 1347 Property Insurance Holdings, Inc. 2018 Equity Incentive Plan (the “Plan”). The Plan is
effective as of March 22, 2018 (the “Effective Date”), subject to the approval of the Plan by the stockholders of
the Company (the date of such stockholder approval being the “Approval Date”). Definitions of capitalized terms used
in the Plan are contained in Section 2 of the Plan.

 

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

 

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

 

d.
Prior Plan. If the Company’s stockholders approve the Plan at the 2018 Annual Meeting of Stockholders, the 1347 Property
Insurance Holdings, Inc. Amended and Restated 2014 Equity Incentive Plan (the “Prior Plan”) will terminate in its
entirety effective on the Approval Date; provided that all outstanding awards under the Prior Plan as of the Approval Date
shall remain outstanding and shall be administered and settled in accordance with the provisions of the Prior Plan.

 

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

 

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

 

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

 

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

 

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

 

e.
“Beneficial Owner” shall have the meaning ascribed to such term in Rule 13d-3 under the Exchange Act and any
successor to such Rule.

 

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

 

g.
“Cause” as a reason for a Participant’s termination of a Participant’s Continuous Service shall have the
meaning specified in the Award Agreement. In the absence of any definition in the Award Agreement, “Cause” shall have
the equivalent meaning or the same meaning as “cause” or “for cause” set forth in any employment, consulting,
or other agreement for the performance of services between the Participant and the Company or a Subsidiary or, in the absence
of any such agreement or any such definition in such agreement, such term shall mean (i) an intentional act of fraud, embezzlement,
theft or any other illegal or unethical act in connection with the performance of the Participant’s duties to the Company
or a Subsidiary that the Company determines, acting in good faith, has materially injured or is highly likely to materially injure
the Company, or any other terminable offense under the Company’s policies and practices; (ii) intentional damage to the
Company’s (or a Subsidiary’s) assets; (iii) conviction of (or plea of nolo contendere to) any felony or other
crime involving moral turpitude; (iv) improper, willful and material disclosure or use of the Company’s (or a Subsidiary’s)
confidential information or other willful material breach of the participant’s duty of loyalty to the Company or a Subsidiary;
(v) a willful, material violation of the Company’s policies and procedures as set out in its employee handbook or a material
violation of the Company’s code of conduct that the Company determines, acting in good faith, has materially injured or
is highly likely to materially injure the Company, monetarily or otherwise; or (vi) the participant’s willful failure or
refusal to follow the lawful and good faith directions of the Company or a Subsidiary, as determined in good faith by the Company.
The good faith determination by the Company of whether a Participant’s Continuous Service was terminated for “Cause”
shall be final and binding for all purposes hereunder.

 

    	 	 A-1	 

     

    

 

h.
“Change in Control” shall mean, unless otherwise specified in an Award Agreement, the occurrence of any of the following:

i.
The acquisition by any Person of Beneficial Ownership of 50% or more of either (x) the then outstanding shares of common stock
of the Company (the “Outstanding Company Common Stock”); or (y) the combined voting power of the then outstanding
securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”)
(the foregoing Beneficial Ownership hereinafter being referred to as a “Controlling Interest”); excluding, however,
the following: (A) any acquisition directly from the Company (excluding any acquisition resulting from the exercise of an exercise,
conversion or exchange privilege unless the security being so exercised, converted or exchanged was acquired directly from the
Company); (B) any acquisition by the Company; (C) any acquisition by an employee benefit plan (or related trust) sponsored or
maintained by the Company or any corporation controlled by the Company; (D) any acquisition by Fundamental Global Investors, LLC,
Ballantyne Strong, Inc., Kingsway Financial Services Inc. or any of their affiliates (collectively, the “Excluded Holders”);
or (E) any acquisition by any entity pursuant to a transaction which complies with clauses (A), (B) and (C) of subsection (ii)
of this Section 2(h); provided further, that for purposes of clause (B), if any Person (other than the Company, any employee benefit
plan (or related trust) sponsored or maintained by the Company, any corporation controlled by the Company, or any of the Excluded
Holders) shall become the beneficial owner of a Controlling Interest by reason of an acquisition by the Company, and such Person
shall, after such acquisition by the Company, acquire Beneficial Ownership of any additional shares of the Outstanding Company
Common Stock or any additional Outstanding Company Voting Securities and such Beneficial Ownership is publicly announced, such
additional Beneficial Ownership shall constitute a Change in Control; or

 

ii.
The consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the
assets of the Company (a “Corporate Transaction”); excluding, however, a Corporate Transaction pursuant to which (A)
all or substantially all of the individuals or entities who are the beneficial owners, respectively, of the Outstanding Company
Common Stock and the Outstanding Company Voting Securities immediately prior to such Corporate Transaction will beneficially own,
directly or indirectly, more than 50% of, respectively, the outstanding shares of common stock, and the combined voting power
of the outstanding securities entitled to vote generally in the election of directors, as the case may be, of the corporation
resulting from such Corporate Transaction (including, without limitation, a corporation which as a result of such transaction
owns the Company or all or substantially all of the Company’s assets either directly or indirectly) in substantially the
same proportions relative to each other as their ownership, immediately prior to such Corporate Transaction, of the Outstanding
Company Common Stock and the Outstanding Company Voting Securities, as the case may be, (B) no Person (other than (I) the Company,
any employee benefit plan (or related trust) sponsored or maintained by the Company, or any corporation controlled by the Company;
(II) any Excluded Holder; (III) the corporation resulting from such Corporate Transaction; or (IV) any Person which beneficially
owned (directly or indirectly) a Controlling Interest immediately prior to such Corporate Transaction) will beneficially own,
directly or indirectly, 50% or more of, respectively, the outstanding shares of common stock of the corporation resulting from
such Corporate Transaction or the combined voting power of the outstanding securities of such corporation entitled to vote generally
in the election of directors, and (C) individuals who were members of the Incumbent Board will constitute at least a majority
of the members of the board of directors of the corporation resulting from such Corporate Transaction; or

 

iii.
The consummation of a plan of complete liquidation or dissolution of the Company.

 

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

 

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

 

    	 	 A-2	 

     

    

 

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

 

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

 

m.
“Continuous Service” means the uninterrupted provision of services to the Company or any Subsidiary in any capacity
of Employee, Director, or Consultant. Continuous Service shall not be considered to be interrupted in the case of (i) any approved
leave of absence, (ii) transfers among the Company, any Subsidiaries, or any successor entities, in any capacity of Employee,
Director, or Consultant, or (iii) any change in status as long as the individual remains in the service of the Company or a Subsidiary
in any capacity of Employee, Director, or Consultant (except as otherwise provided in the Award Agreement). An approved leave
of absence shall include sick leave, military leave, or any other authorized personal leave.

 

n.
“Controlling Interest” has the meaning given such term in Section 2(h).

 

o.
“Corporate Transaction” has the meaning given such term in Section 2(h).

 

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

 

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

 

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

 

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

 

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

 

u.
“Excluded Holders” has the meaning given such term in Section 2(h).

 

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

 

w.
“Good Reason” shall, with respect to any Participant, have the meaning specified in the applicable Award Agreement.
In the absence of any definition in the Award Agreement, “Good Reason” shall have the equivalent meaning or the same
meaning as “good reason” or “for good reason” set forth in any employment, consulting or other agreement
for the performance of services between the Participant and the Company or a Subsidiary or, in the absence of any such agreement
or any such definition in such agreement, such term shall mean (i) the assignment to the Participant of any duties inconsistent
in any material respect with the Participant's duties or responsibilities as assigned by the Company or a Subsidiary, or any other
action by the Company or a Subsidiary which results in a material diminution in such duties or responsibilities, excluding for
this purpose any action which is remedied by the Company or a Subsidiary promptly after receipt of notice thereof given by the
Participant; or (ii) any material failure by the Company or a Subsidiary to comply with its obligations to the Participant as
agreed upon, other than an isolated, insubstantial and inadvertent failure which is remedied by the Company or a Subsidiary promptly
after receipt of notice thereof given by the Participant.

 

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

 

    	 	 A-3	 

     

    

 

y.
“Incumbent Board” has the meaning given such term in Section 2(h).

 

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

 

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

 

bb.
“Outstanding Company Common Stock” has the meaning given such term in Section 2(h).

 

cc.
“Outstanding Company Voting Securities” has the meaning given such term in Section 2(h).

 

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

 

ee.
“Performance Award” has the meaning given such term in Section 12(a).

 

ff.
“Performance Objectives” means the performance objective or objectives established by the Committee with respect to
an Award granted pursuant to the Plan. Any Performance Objectives may relate to the performance of the Company or one or more
of its Subsidiaries, divisions, departments, units, functions, partnerships, joint ventures or minority investments, product lines
or products, or the performance of the individual Participant, and may include, without limitation, the Performance Objectives
listed in Section 12(a). The Performance Objectives may be made relative to the performance of a group of comparable companies,
or a published or special index that the Committee, in its sole discretion, deems appropriate, or the Company may select Performance
Objectives as compared to various stock market indices. Performance Objectives may be stated as a combination of the listed factors.
Any Performance Objectives that are financial metrics may be determined in accordance with United States Generally Accepted Accounting
Principles (“GAAP”), if applicable, or may be adjusted when established to include or exclude any items otherwise
includable or excludable under GAAP.

 

gg.
“Person” shall have the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in Sections
13(d) and 14(d) thereof, and shall include a “group” as defined in Section 13(d) thereof.

 

hh.
“Plan” means this 1347 Property Insurance Holdings, Inc. 2018 Equity Incentive Plan, as amended from time to time.

 

ii.
“Prior Plan” has the meaning given such term in Section 1(d).

 

jj.
“Qualified Termination” means any termination of a Participant’s Continuous Service during the two-year period
commencing on a Change in Control (a) by the Company, any of its Subsidiaries or the entity resulting from a Change in Control
other than for Cause, or (b) by the Participant for Good Reason.

 

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

 

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

 

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

 

nn.
“Share” means a share of common stock of the Company, par value $0.001 per share, or any security into which such
Share may be changed by reason of any transaction or event of the type referred to in Section 14.

 

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

 

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

 

    	 	 A-4	 

     

    

 

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

 

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

 

3.
Shares Available Under the Plan.

 

a.
Shares Available for Awards. The maximum number of Shares that may be granted pursuant to Awards under the Plan shall be
300,000 Shares. All of the Shares authorized for grant under the Plan may be issued pursuant to Incentive Stock Options. Shares
issued or delivered pursuant to an Award may be authorized but unissued Shares, treasury Shares, including Shares purchased in
the open market, or a combination of the foregoing. The aggregate number of Shares available for issuance or delivery under the
Plan shall be subject to adjustment as provided in Section 14.

 

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

 

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

 

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

 

4.
Administration of the Plan.

 

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

 

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

 

    	 	 A-5	 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    	 	 A-6	 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    	 	 A-7	 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

11.
Compliance with Section 409A. Awards granted under the Plan shall be designed and administered in such a manner that they
are either exempt from the application of, or comply with, the requirements of Section 409A of the Code. To the extent that the
Committee determines that any award granted under the Plan is subject to Section 409A of the Code, the Award Agreement shall incorporate
the terms and conditions necessary to avoid the imposition of an additional tax under Section 409A of the Code upon a Participant.
Notwithstanding any other provision of the Plan or any Award Agreement (unless the Award Agreement provides otherwise with specific
reference to this Section 13): (i) an Award shall not be granted, deferred, accelerated, extended, paid out, settled, substituted,
modified or adjusted under the Plan in a manner that would result in the imposition of an additional tax under Section 409A of
the Code upon a Participant; and (ii) if an Award is subject to Section 409A of the Code, and if the Participant holding the award
is a “specified employee” (as defined in Section 409A of the Code, with such classification to be determined in accordance
with the methodology established by the Company), then, to the extent required to avoid the imposition of an additional tax under
Section 409A of the Code upon a Participant, no distribution or payment of any amount shall be made before the date that is six
(6) months following the date of such Participant’s “separation from service” (as defined in Section 409A of
the Code) or, if earlier, the date of the Participant’s death. Although the Company intends to administer the Plan so that
Awards will be exempt from, or will comply with, the requirements of Section 409A of the Code, the Company does not warrant that
any Award under the Plan will qualify for favorable tax treatment under Section 409A of the Code or any other provision of federal,
state, local, or non-United States law. The Company shall not be liable to any Participant for any tax, interest, or penalties
the Participant might owe as a result of the grant, holding, vesting, exercise, or payment of any Award under the Plan.

 

    	 	 A-8	 

     

    

 

12.
Performance Objectives.

 

a.
In General. As provided in the Plan, the vesting, exercisability and/or payment of any Award may be conditioned upon the
achievement of one or more Performance Objectives (any such Award, a “Performance Award”). Any Performance Objectives
shall be based on the achievement of one or more criteria selected by the Committee, in its discretion, which may include, but
shall not be limited to, the following: revenue; revenue growth; earnings before interest and taxes; earnings before interest,
taxes, depreciation and amortization; earnings per share; operating income; pre- or after-tax income; net operating profit after
taxes; economic value added (or an equivalent metric); ratio of operating earnings to capital spending; cash flow (before or after
dividends); cash-flow per share (before or after dividends); net earnings; net sales; sales growth; Share price performance; return
on assets or net assets; return on equity; return on capital (including return on total capital or return on invested capital);
cash flow return on investment; total stockholder return; improvement in or attainment of expense levels; and improvement in or
attainment of working capital levels.

 

b.
Establishment of Performance Objectives. With respect to any Performance Award, the Committee shall establish in writing
the Performance Objectives, the performance period, and any formula for computing the payout of the Performance Awards. Such terms
and conditions shall be established in writing during the first ninety days of the applicable performance period (or by such other
date as may be determined by the Committee, in its discretion).

 

c.
Certification of Performance. Prior to payment, exercise or vesting of any Performance Award, the Committee will certify
in writing whether the applicable Performance Objectives and other material terms imposed on such Performance Award have been
satisfied, and, if they have, ascertain the amount of the payout or vesting of the Performance Award.

 

d.
Adjustments. If the Committee determines that a change in the Company’s business, operations, corporate structure
or capital structure, or in the manner in which it conducts its business, or other events or circumstances render the Performance
Objectives unsuitable, the Committee may in its discretion adjust such Performance Objectives or the related level of achievement,
in whole or in part, as the Committee deems appropriate and equitable, including, without limitation, to exclude the effects of
events that are unusual in nature or infrequent in occurrence (as determined in accordance with applicable financial accounting
standards), cumulative effects of tax or accounting changes, discontinued operations, acquisitions, divestitures and material
restructuring or asset impairment charges.

 

13.
Transferability. Except as otherwise determined by the Committee, no Award or dividend equivalents paid with respect to any
Award shall be transferable by the Participant except by will or the laws of descent and distribution; provided, that if
so determined by the Committee, each Participant may, in a manner established by the Board or the Committee, designate a beneficiary
to exercise the rights of the Participant with respect to any Award upon the death of the Participant and to receive Shares or
other property issued or delivered under such Award. Except as otherwise determined by the Committee, Stock Options and Stock
Appreciation Rights will be exercisable during a Participant’s lifetime only by the Participant or, in the event of the
Participant’s legal incapacity to do so, by the Participant’s guardian or legal representative acting on behalf of
the Participant in a fiduciary capacity under state law and/or court supervision.

 

14.
Adjustments. In the event of any equity restructuring (within the meaning of Financial Accounting Standards Board Accounting
Standards Codification Topic 718, or any successor thereto), such as a stock dividend, stock split, reverse stock split, spinoff,
rights offering, or recapitalization through a large, nonrecurring cash dividend, the Committee shall cause there to be an equitable
adjustment in the number and kind of Shares specified in Section 3 of the Plan and, with respect to outstanding Awards, in the
number and kind of Shares subject to outstanding Awards and the exercise price or other price of Shares subject to outstanding
Awards, in each case to prevent dilution or enlargement of the rights of Participants. In the event of any other change in corporate
capitalization, or in the event of a merger, consolidation, liquidation, or similar transaction, the Committee may, in its sole
discretion, cause there to be an equitable adjustment as described in the foregoing sentence, to prevent dilution or enlargement
of rights; provided, however, that, unless otherwise determined by the Committee, the number of Shares subject to
any Award shall always be rounded down to a whole number. Notwithstanding the foregoing, the Committee shall not make any adjustment
pursuant to this Section 14 that would (i) cause any Stock Option intended to qualify as an ISO to fail to so qualify, (ii) cause
an Award that is otherwise exempt from Section 409A of the Code to become subject to Section 409A, or (iii) cause an Award that
is subject to Section 409A of the Code to fail to satisfy the requirements of Section 409A. The determination of the Committee
as to the foregoing adjustments, if any, shall be conclusive and binding on all Participants and any other persons claiming under
or through any Participant.

 

    	 	 A-9	 

     

    

 

15.
Fractional Shares. The Company shall not be required to issue or deliver any fractional Shares pursuant to the Plan and, unless
otherwise provided by the Committee, fractional shares shall be settled in cash.

 

16.
Withholding Taxes. To the extent required by Applicable Laws, a Participant shall be required to satisfy, in a manner satisfactory
to the Company or Subsidiary, as applicable, any withholding tax obligations that arise by reason of the exercise of a Stock Option
or Stock Appreciation Right, the vesting of or settlement of Shares under an Award, an election pursuant to Section 83(b)
of the Code or otherwise with respect to an Award. The Company and its Subsidiaries shall not be required to issue or deliver
Shares, make any payment, or recognize the transfer or disposition of any Shares, until such withholding tax obligations are satisfied.
The Committee may permit or require these obligations to be satisfied by having the Company withhold a portion of the Shares that
otherwise would be issued or delivered to a Participant upon exercise of a Stock Option or Stock Appreciation Right or upon the
vesting or settlement of an Award, or by tendering Shares previously acquired, in each case having a Fair Market Value equal to
the amount required to be withheld. Any such elections are subject to such conditions or procedures as may be established by the
Committee and may be subject to disapproval by the Committee. In no event will the Fair Market Value of the Shares to be withheld
or tendered pursuant to this Section 16 to satisfy applicable withholding taxes exceed the amount of taxes required to be withheld
based on the maximum statutory tax rates in the applicable taxing jurisdictions.

 

17.
Foreign Participants. Without amending the Plan, the Committee may grant Awards to Participants who are foreign nationals,
or who are subject to Applicable Laws of one or more non-United States jurisdictions, on such terms and conditions different from
those specified in the Plan as may in the judgment of the Committee be necessary or desirable to foster and promote achievement
of the purposes of the Plan, and, in furtherance of such purposes, the Committee may approve such sub-plans, supplements to or
amendments, modifications, restatements or alternative versions of this Plan as may be necessary or advisable to comply with provisions
of Applicable Laws of other countries in which the Company or its Subsidiaries operate or have Employees or Consultants.

 

18.
Compensation Recovery Policy. Any Award granted to a Participant shall be subject to forfeiture or repayment pursuant to the
terms of any applicable compensation recovery policy maintained by the Company from time to time, including any such policy that
may be maintained to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act or any rules or regulations issued
by the SEC or applicable securities exchange.

 

19.
Change in Control.

 

a.
Committee Discretion. The Committee may, in its sole discretion and without the consent of Participants, either by the
terms of the Award Agreement applicable to any Award or by resolution adopted prior to the occurrence of the Change in Control,
determine whether and to what extent outstanding Awards under the Plan shall be assumed, converted or replaced by the resulting
entity in connection with a Change in Control (or, if the Company is the resulting entity, whether such Awards shall be continued
by the Company), in each case subject to equitable adjustments in accordance with Section 14 of the Plan.

 

b.
Awards that are Assumed. To the extent outstanding Awards granted under this Plan are assumed, converted or replaced by
the resulting entity in the event of a Change in Control (or, if the Company is the resulting entity, to the extent such Awards
are continued by the Company) as provided in Section 19(a) of the Plan, then, except as otherwise provided in the applicable Award
Agreement or in another written agreement with the Participant, or in a Company severance plan applicable to the Participant:
(i) any outstanding Awards that are subject to Performance Objectives shall be converted to service-vesting awards by the resulting
entity, as if “target” performance had been achieved as of the date of the Change in Control, and shall continue to
vest based on the Participant’s Continuous Service during the remaining performance period or other period of required service,
and (ii) all other Awards shall continue to vest during the applicable vesting period, if any. Notwithstanding the preceding sentence,
if a Participant incurs a Qualified Termination, then upon such termination, all outstanding Awards shall become fully vested
and any such Awards that are Stock Options or Stock Appreciation Rights shall become fully exercisable and shall remain exercisable
for the full duration of their term.

 

c.
Awards that are not Assumed. To the extent outstanding Awards granted under this Plan are not assumed, converted or replaced
by the resulting entity in connection with a Change in Control (or, if the Company is the resulting entity, to the extent such
Awards are not continued by the Company) in accordance with Section 19(a) of the Plan, then effective immediately prior to the
Change in Control, except as otherwise provided in the applicable Award Agreement or in another written agreement with the Participant,
or in a Company severance plan applicable to the Participant: (i) all outstanding Awards held by the Participant that may be exercised
shall become fully exercisable and shall remain exercisable for the full duration of their term, (ii) all restrictions with respect
to outstanding Awards shall lapse, with any specified Performance Objectives with respect to outstanding Awards deemed to be satisfied
at the “target” level, and (iii) all outstanding Awards shall become fully vested.

 

    	 	 A-10	 

     

    

 

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

 

20.
Amendment, Modification and Termination.

 

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

 

b.
Adjustments to Outstanding Awards. The Committee may in its sole discretion at any time (i) provide that all or a portion
of a Participant’s Stock Options, Stock Appreciation Rights and other Awards in the nature of rights that may be exercised
shall become fully or partially exercisable; (ii) provide that all or a part of the time-based vesting restrictions on all or
a portion of the outstanding Awards shall lapse, and/or that any Performance Objectives or other performance-based criteria with
respect to any Awards shall be deemed to be wholly or partially satisfied; or (iii) waive any other limitation or requirement
under any such Award, in each case, as of such date as the Committee may, in its sole discretion, declare.

 

c.
Prohibition on Repricing. Except for adjustments made pursuant to Sections 14 or 19, the Board or the Committee will not,
without the further approval of the stockholders of the Company, authorize the amendment of any outstanding Stock Option or Stock
Appreciation Right to reduce the exercise price. No Stock Option or Stock Appreciation Right will be cancelled and replaced with
an Award having a lower exercise price, or for another Award, or for cash without further approval of the stockholders of the
Company, except as provided in Sections 14 or 19. Furthermore, no Stock Option or Stock Appreciation Right will provide for the
payment, at the time of exercise, of a cash bonus or grant or sale of another Award without further approval of the stockholders
of the Company. This Section 20(c) is intended to prohibit the repricing of “underwater” Stock Options or Stock Appreciation
Rights without stockholder approval and will not be construed to prohibit the adjustments provided for in Sections 14 or 19.

 

d.
Effect on Outstanding Awards. Notwithstanding any other provision of the Plan to the contrary (other than Sections 14,
19, 20(b) and 22(d)), no termination, amendment, suspension, or modification of the Plan or an Award Agreement shall adversely
affect in any material way any Award previously granted under the Plan, without the written consent of the Participant holding
such Award; provided that the Committee may modify an ISO held by a Participant to disqualify such Stock Option from treatment
as an “incentive stock option” under Section 422 of the Code without the Participant’s consent.

 

21.
Applicable Laws. The obligations of the Company with respect to Awards under the Plan shall be subject to all Applicable Laws
and such approvals by any governmental agencies as the Committee determines may be required. The Plan and each Award Agreement
shall be governed by the laws of the State of Delaware, excluding any conflicts or choice of law rule or principle that might
otherwise refer construction or interpretation of the Plan to the substantive law of another jurisdiction.

 

22.
Miscellaneous.

 

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

 

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

 

    	 	 A-11	 

     

    

 

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

 

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

 

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

 

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

 

[END
OF DOCUMENT]

 

    	 	 A-12

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