Document:

PERCEPTRON, INC. 

FIRST AMENDED AND RESTATED

2004 STOCK INCENTIVE PLAN

RESTRICTED STOCK AWARD AGREEMENT 

FOR NON-EMPLOYEE DIRECTORS

 

THIS RESTRICTED STOCK AWARD AGREEMENT (the
“Award Agreement”) is made effective as of _________, 20__
(the “Grant Date”), between Perceptron, Inc., a Michigan Corporation (hereinafter called the “Corporation”),
and __________________, hereinafter referred to as the “Grantee.” Capitalized
terms not otherwise defined herein shall have the same meanings as in the Perceptron, Inc. First Amended and Restated 2004 Stock
Incentive Plan, as may be amended from time to time (the terms of which are hereby incorporated by reference and made a part of
this Award Agreement) (the “Plan”).

 

1.Grant of the Restricted Stock.
Subject to the terms and conditions of the Plan and the additional terms and conditions set forth in this Award Agreement, the
Corporation hereby grants to the Grantee [INSERT NUMBER OF SHARES] shares of Common
Stock (hereinafter called the “Restricted Stock”). The Restricted Stock shall vest and become nonforfeitable in accordance
with Section 2 hereof.

 

2. Restriction Period. The
Common Stock subject to this Award Agreement are restricted from transfer until the restrictions lapse. Subject to the Grantee’s
termination of services with the Corporation or a Subsidiary, as described in Section 3, below, the Common Stock subject to this
Award Agreement shall vest upon the first anniversary of the Grant Date (the “Restriction Period”). Upon the lapse
of the restrictions, the associated Common Stock shall become freely transferable if the Grantee’s services or employment
has not been terminated on or prior to such date. Notwithstanding the provisions of this subsection, (i)
in the event of a termination by the Corporation of the Grantee’s membership on the Board of Directors or failure to re-nominate
the Grantee for election to the Board of Directors, or voluntary resignation by the Grantee from the Board of Directors at the
request of the Board of Directors, following a Change in Control of the Corporation, (ii) failure of the Grantee to be reelected
to the Board of Directors after being re-nominated for election by the Board of Directors,
or (iii) in the event of a Change in Control, the Common Stock subject to this Award Agreement shall
become 100% vested and nonforfeitable and all restrictions shall lapse. Until the lapse of the restrictions in this Section
2, any certificate evidencing the Common Stock subject to this Award Agreement, shall carry a restrictive legend that prohibits
any transfer including the assignment, hypothecation or pledge of the Common Stock subject to this Award Agreement, prior to the
lapse of the Restriction Period.

 

3.Termination. Except as
described in Section 2, if the Grantee’s services are terminated for any reason, the Grantee’s right to the Common
Stock subject to this Award Agreement that are still subject to the Restriction Period automatically shall terminate and be forfeited
by the Grantee. The Committee retains the right to accelerate or waive restrictions on Common Stock covered by this Award Agreement.

 

4.Legend on Certificates.
The Restricted Stock shall contain a legend stating that they are subject to transfer restrictions and other restrictions as the
Committee may deem reasonably advisable under the Plan or the rules, regulations, and other requirements of the Securities and
Exchange Commission, any stock exchange upon which such Restricted Stock are listed, or any applicable federal or state laws, and
the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions.

    	 

    	 

    

 

5.Securities Laws. The Corporation
may require the Grantee to make or enter into such written representations, warranties and agreements as the Committee may reasonably
request in order to comply with applicable securities laws or with this Award Agreement. Anything to the contrary herein notwithstanding,
the granting of the Restricted Stock hereunder shall be subject to such compliance with federal and state laws, rules and regulations
applying to the authorization, issuance or sale of securities, and applicable stock exchange requirements, as the Corporation deems
necessary or advisable.

 

6.Transferability. The Restricted
Stock may not, at any time prior to becoming vested pursuant to Section 2 or thereafter, be transferred, sold, assigned, pledged,
hypothecated or otherwise disposed of unless such transfer, sale, assignment, pledge, hypothecation or other disposition complies
with the provisions of this Award Agreement.

 

7.Disputes. As a condition
of the granting of the Restricted Stock granted hereby, the Grantee and the Grantee’s successors and assigns agree that any
dispute or disagreement which shall arise under or as a result of this Award Agreement shall be determined by the Committee in
its sole discretion and judgment and that any such determination and any interpretation by the Committee of the terms of this Award
Agreement shall be final and shall be binding and conclusive for all purposes.

 

8.Adjustments. In the event
of any stock dividend, subdivision or combination of shares, reclassification, or similar transaction affecting the shares covered
by this award, determined by the Committee to be covered by this Section 8, a proposed dissolution or liquidation of the Corporation,
a merger of the Corporation with or into another corporation where the Corporation is not the surviving corporation, but its stock
is exchanged for the stock of the parent Corporation of the other party to the merger, the sale of substantially all of the assets
of the Corporation, the reorganization of the Corporation or other similar transaction determined by the Committee to be covered
by this Section 8, a proposed spin-off or a transfer by the Corporation of a portion of its assets resulting in the services of
the Grantee by the spin-off entity or the entity acquiring assets of the Corporation, the rights of the Grantee shall be as provided
in Section 9.1 of the Plan and any adjustment therein provided shall be made in accordance with Section 9.1 of the Plan.

 

9.Rights as a Stockholder.
Except for potential forfeitability of the Restricted Stock prior to the lapse of restrictions set forth in Section 2 above, the
Grantee shall have all the voting rights and entitlement to dividends and other distributions paid (although any dividends or distributions
paid in Common Stock will be subject to the same restrictions, terms and conditions as the Restricted Stock to which it relates)
with respect to Common Stock subject to this Award Agreement commencing on the date on which the stock certificate is issued (or
book entry representing such shares has been made and such shares have been deposited with the appropriate book-entry custodian)
evidencing the Restricted Stock under this Award Agreement.

 

10.Notices. Every
notice relating to this Award Agreement shall be in writing and if given by mail shall be given by registered or certified mail
with return receipt requested. All notices to the Corporation shall be delivered to the Secretary of the Corporation at the Corporation's
headquarters or addressed to the Secretary of the Corporation at the Corporation's headquarters. All notices by the Corporation
to the Grantee shall be delivered to the Grantee personally or addressed to the Grantee at the Grantee’s last residence address
as then contained in the records of the Corporation or such other address as the Grantee may designate. Either party by notice
to the other may designate a different address to which notices shall be addressed. Any notice given by the Corporation to the
Grantee at the Grantee’s last designated address shall be effective to bind any other person who shall acquire rights hereunder.

    	 

    	 

    

  

11.Limitation on Obligations.
The Corporation’s obligation with respect to the Restricted Stock granted hereunder is limited solely to the delivery to
the Grantee of Common Stock on the date when such shares are due to be delivered hereunder, and in no way shall the Corporation
become obligated to pay cash in respect of such obligation. This Award Agreement shall not be secured by any specific assets of
the Corporation or any of its Subsidiaries, nor shall any assets of the Corporation or any of its subsidiaries be designated as
attributable or allocated to the satisfaction of the Corporation’s obligations under this Award Agreement. In addition, the
Corporation shall not be liable to the Grantee for damages relating to any delays in issuing the stock certificates to the Grantee
(or Grantee’s designated entities), any loss of the certificates, or any mistakes or errors in the issuance of the certificates
or in the certificates themselves.

 

12.Governing Law. Except
to the extent governed by applicable federal law, the validity, interpretation, construction and performance of this Award Agreement,
shall be governed by the laws of the State of Michigan without regard to its choice of law rules.

 

13.Award Agreement Subject to Plan.
The Award Agreement shall be subject to all terms and provisions of the Plan, to the extent applicable to the Restricted Stock.
In the event of any conflict between this Award Agreement and the Plan, the terms of the Plan shall control, it being understood
that variations in this Award Agreement from terms set forth in the Plan shall not be considered to be in conflict if the Plan
permits such variations.

 

14.Counterparts.  This Award
Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together shall constitute
one and the same instrument.

 

15. Captions. The captions to
the sections and subsections contained in this Award Agreement are for reference only, do not form a substantive part of this Award
Agreement and shall not restrict or enlarge substantive provisions of this Award Agreement.

 

16. Parties in Interest. This
Award Agreement shall bind and shall inure to the benefit of the parties hereto, their respective permitted successors and assigns.

 

17.Complete Agreement. This
Award Agreement shall constitute the entire agreement between the parties hereto and shall supersede all proposals, oral or written,
and all other communications between the parties relating to the subject matter of this Award Agreement.

 

18.Modifications. The terms
of this Award Agreement cannot be modified except in writing and signed by each of the parties hereto.

 

19. Severability. In the
event that any one or more of the provisions of this Award Agreement should be invalid, illegal or unenforceable in any respect,
the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired
thereby.

 

 

    	 

    	 

    

 

20. Code Section 83(b) Election.
The Grantee may, at his or her option, elect to recognize the fair market value (less any amount paid by the Grantee) of the Restricted
Stock upon the Grant Date pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended. The election will be made
on a form provided by the Corporation and must be filed with the Internal Revenue Service no later than 30 days after the Grant
Date. The Grantee is hereby advised to seek his or her own tax counsel regarding the taxation of the grant of Restricted Stock
made hereunder. The Corporation and its agents have not and are not providing any tax advice to the Grantee.

 

[Continued on next
page.]

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the
Corporation has caused the Award to be granted pursuant to this Award Agreement on the Grant Date.

 

 

 

 

	 	PERCEPTRON, INC.
	 	 	 
	 	By:  	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 
	 	 	 

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

 

ACKNOWLEDGEMENT

 

By signing below, the Grantee acknowledges and agrees that:

 

		·	A copy of the Plan and the Plan’s Prospectus have been made available to the Grantee;

		·	The Grantee has read and understands and accepts the conditions place on the Restricted Stock; and

		·	If the Grantee does not return a signed copy of this Award Agreement to the address shown below not later than 30 days after
the Grant Date, the Restricted Stock will be forfeited and the Award Agreement will terminate and be of no further force or effect.

 

Perceptron, Inc.

Attention: Vice President, General
Counsel & Secretary

47827 Halyard Drive

Plymouth, MI 48170

 

 

 

	 	GRANTEE	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

	 	Printed Name:	 

 

	 	Date:	 

 

    	 

    	 

    

 

PERCEPTRON, INC. 

FIRST AMENDED AND RESTATED

2004 STOCK INCENTIVE PLAN

INSTRUCTIONS FOR COMPLETING SECTION
83(b) ELECTION FORM

 

 

A Grantee may make an election under Section
83(b) of the Code with respect to Restricted Stock. To do this:

 

		·	The Grantee must make the election by completing the attached form;

		·	Within 30 days of the Grant Date, the Grantee must send a copy of this form to the Internal Revenue Service office at which
the Grantee files his or her federal income tax return;

		·	A copy of this form must be submitted with the Grantee’s income tax return for the taxable year in which the property
is transferred;

		·	The Grantee also must send a copy of this completed form to:

 

Perceptron, Inc.

Attention: Vice President, General
Counsel & Secretary

47827 Halyard Drive

Plymouth, MI 48170

 

    	 

    	 

    

 

 

ELECTION TO INCLUDE
IN GROSS INCOME IN YEAR OF TRANSFER OF PROPERTY PURSUANT TO SECTION 83(b) OF THE INTERNAL REVENUE CODE

 

The undersigned taxpayer hereby elects, pursuant
to Section 83(b) of the Internal Revenue Code, to include in gross income as compensation for services, the excess (if any) of
the fair market value of the shares described below over the amount paid for those shares.

 

1.The Name, Address and Taxpayer Identification
Number (Social Security Number) of the undersigned are:

 

NAME OF TAXPAYER: _____________________

 

ADDRESS: ____________________________________

 

TAXPAYER’S SOCIAL SECURITY NUMBER ___________________

 

2. Description of property with respect to
which this election is being made:

 

______________________
Common Stock of Perceptron, Inc., a Michigan Company (“Company”)

 

3. The date on which the property was transferred
to the undersigned was ______________

 

The taxable year to which this election relates
is calendar year 2013.

 

4. The nature of the restriction(s) to which
the property is subject:

 

The property is non-transferable
in the taxpayer’s hands and subject to substantial risk of forfeiture until the restrictions lapse on the first anniversary
of the date the property was transferred to the taxpayer (described in Section 3 above), subject to accelerated vesting on a change
in control, or certain other events. If the taxpayer’s services are terminated prior to the lapse of such restrictions, the
taxpayer will forfeit any portion of the property that is still subject to such restrictions. Until the restrictions lapse, any
stock certificate evidencing the property subject to this election shall carry a restrictive legend (if the property is issued
in book entry form, a notation to the same restrictive effect as the legend shall be placed on the transfer agent’s books
in connection with such property) that prohibits any transfer including the assignment, hypothecation or pledge of the property
prior to the lapse of the restrictions on the property.

 

5. The fair market value at the time
of transfer (determined without regard to any restriction other than a nonlapse restriction as defined in Income Tax Regulation
Section 1.83-3(h)) of the property with respect to which this election is being made is $__________
per share.

 

6. Amount (if any) paid by taxpayer for said
property is $________ per share.

 

7. The amount to include in gross income is
$____________[Insert the result of the amount reported in Section 5 minus the
amount reported in Section 6]

 

8. The undersigned has submitted a copy of
this statement to the person for whom services were performed in connection with the undersigned’s receipt of the above-described
property. The undersigned is the person performing the service in connection with the transfer of said property.

 

THIS ELECTION MUST BE FILED WITH THE
INTERNAL REVENUE SERVICE OFFICE WHERE THE TAXPAYER’S FEDERAL TAX RETURN IS FILED WITHIN 30 DAYS AFTER THE DATE ON WHICH THE
SHARES ARE TRANSFERRED. A COPY OF THE ELECTION ALSO MUST BE ATTACHED TO THE TAXPAYER’S FEDERAL TAX RETURN FOR THE CALENDAR
YEAR IN WHICH THE PROPERTY IS TRANSFERRED. THIS ELECTION CANNOT BE REVOKED WITHOUT THE CONSENT OF THE INTERNAL REVENUE SERVICE.

 

    	 

    	 

    

 

	Dated: _______________	 
	 	________________________________
	 	 
	 	(Signature of Taxpayer)
	 	 
	 	 
	 	_________________________________
	 	 
	 	(Printed Name of Taxpayer)FIRST AMENDMENT TO
CONSULTING Agreement BETWEEN VYSTAR CORPORATION AND BLUE OAR CONSULTING, INC.

 

This First Amendment to the Consulting
Agreement between Vystar Corporation, and Blue Oar Consulting, Inc. (“Amendment”) is made as of August 21, 2013 with
an effective date of June 3, 2013 ("Effective Date"), and is entered into by and between VYSTAR, INC. (“Vystar”),
with an address at 3235 Satellite Blvd, Bldg 400, Ste 290, Duluth, GA 30096 and Blue Oar Consulting, Inc., with an address at 285
W Via Lola, Palm Springs CA 92262 (“Consultant”).

 

Vystar and Consultant
entered into that certain Consulting Agreement between Vystar and Consultant dated effective March 14, 2013 (the “Agreement”).

 

Vystar and Consultant
now desire to amend the terms of the Agreement as more particularly set forth below:

 

1.          Section
3 of the Agreement is hereby amended and restated in its entirety and shall hereafter be and read as follows: 3. Termination.
This Agreement shall terminate immediately at any time by either party after twelve (12) months from the date hereof, upon thirty
(30) days prior written notice to the other party. Notwithstanding the termination provisions in this Section 3, Consultant may
terminate this Agreement without notice at any time that the fees set forth in Section 2 of this Agreement remain unpaid more than
ten (10) days past their due date.

 

2.          Exhibit
B Fees attached to the Agreement is hereby amended and restated in its entirety and shall hereafter be and read as provided in
Exhibit B-1 Fees attached to this Amendment and incorporated for all purposes.

 

3.          Except
as provided in this Amendment, all terms used in this Amendment that are not otherwise defined shall have the respective meanings
ascribed to such terms in the Agreement.

 

4.          This
Amendment embodies the entire agreement between Vystar and Consultant with respect to the amendment of the Agreement. In the event
of any conflict or inconsistency between the provisions of the Agreement and this Amendment, the provisions of this Amendment shall
control and govern.

 

5.          Except
as specifically modified and amended herein, all of the terms, provisions, requirements and specifications contained in the Agreement
remain in full force and effect. Except as otherwise expressly provided herein, the parties do not intend to, and the execution
of this Amendment shall not, in any manner impair the Agreement, the purpose of this Amendment being simply to amend and ratify
the Agreement, as hereby amended and ratified, and to confirm and carry forward the Agreement, as hereby amended, in full force
and effect.

 

6.          This
Amendment shall be construed and governed by the laws of the State of GEORGIA.

 

    	Page 1  of 1

    	 

    

 

IN WITNESS WHEREOF, Vystar
and Consultant have executed and delivered this Amendment effective as of the Effective Date.

 

	BLUE OAR CONSULTING, INC.	 	VYSTAR CORPORATION
	 	 	 
	 	 	 
	By:	 	By:
	 	 	 
	 	 	 
	Name:	 	Name:
	 	 	 
	 	 	 
	Title:	 	Title:

 

    	Page 2 of 2

    	 

    

 

EXHIBIT B-1

 

FEES

 

Immediately upon execution of the Agreement,
Vystar will deliver to the Consultant or to Consultant’s designee(s) a certificate or certificates registered in the name
of Consultant or its designee a total of 3,300,000 restricted shares of Vystar common stock.

 

    	Page 3 of 3

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