Document:

CONSULTING
AGREEMENT

 

This
Consulting Agreement (this
“Agreement”) is entered into as of September 19, 2014 with an effective date of September
19, 2014 (the “Effective Date”), by and between Bone
Biologics, Corp., a Delaware corporation (the “Company”), and
T.O. Medical Development Inc. a California Corporation (“Consultant”).

 

1.
Scope of Services.

 

1.1
Services. Consultant agrees to provide consulting services (“Services”) to the Company as
reasonably requested by the Company’s Chief Executive Officer (“CEO”) or Board of Directors
(the “Board”), which Services shall include those listed on Exhibit A attached
hereto. Consultant shall report to the CEO or (if requested) directly to the Board. As part of the Services, Bruce Hazuka (an
Employee and Advisor to the Consultant) will serve as the provider of the “Services.” The manner and means by
which Consultant chooses to provide Services under this Agreement are in Consultant’s sole discretion and control.
Consultant agrees to exercise the highest degree of professionalism in providing Services under this Agreement. Consultant
agrees to use its best efforts to perform the Services such that the results are satisfactory to the Company. Consultant
shall devote at least 15 days per month to performance of the Services. Consultant may not subcontract or otherwise delegate
its obligations under this Agreement without the Company’s prior written consent.

 

2.
Compensation; Expenses. In
consideration for the Services to be provided hereunder, the Company shall provide to Consultant the compensation set forth under
Exhibit B attached hereto. Consultant shall not be authorized to incur on behalf of the Company any expenses above
$1,000 without the prior consent of the Board or the CEO, which consent shall be evidenced in writing. As a condition to receipt
of reimbursement, Consultant shall be required to submit to the Company reasonable evidence that the amount involved was expended
and related to Services provided under this Agreement.

 

3.
Independent Contractor Relationship. Consultant’s
relationship with the Company will be that of an independent contractor and nothing in this Agreement should be construed to create
a partnership, joint venture, or employer-employee relationship. Consultant is not the agent of the Company and is not authorized
to make any representation, contract, or commitment on behalf of the Company. Because Consultant is an independent contractor,
the Company will not withhold or make payments for social security; make unemployment insurance or disability insurance contributions;
or obtain worker’s compensation insurance on Consultant’s behalf. Consultant agrees to accept exclusive liability
for complying with all applicable state and federal laws, including obligations such as payment of taxes, social security, disability
and other contributions based on fees paid to Consultant, its agents or employees under this Agreement.

 

 4. Confidential Information.

 

4.1
Confidential Information. Consultant agrees during the term of this Agreement and thereafter that it will (and will
cause all of its agents, principals and employees to) take all steps reasonably necessary to hold the Company’s
Confidential Information (as defined below) in trust and confidence, and not use the Confidential Information in any manner
or for any purpose not expressly set forth in this Agreement, and not disclose any such Confidential Information to any third
party without first obtaining the Company’s express written consent on a case-by-case basis. “Confidential
Information” means any information disclosed by the Company to Consultant, or created by or on behalf
of Consultant during the course of providing Services hereunder, and includes, without limitation, any: (a) trade
secrets, inventions, antibodies and other biological materials, cell lines, samples of assay components, mask works, ideas,
processes, procedures, formulations, formulas, source and object codes, data, programs, other works of authorship,
know-how, improvements, discoveries, developments, designs and techniques; (b) information regarding plans for research,
developmental or experimental work, new products, clinical data, test data, marketing and selling, business plans, budgets
and unpublished financial statements, licenses, prices and costs, suppliers and customers; and (c) information regarding the
skills and compensation of the employees and other services providers of the Company. Notwithstanding the other provisions of
this Agreement, nothing received by Consultant will be considered to be Confidential Information if (1) it has been
previously published or is otherwise readily available to the public other than by a breach of any obligation of
confidentiality or (2) it has been rightfully received by Consultant from a third party without any obligation of
confidentiality.

 

    	 

    	 

    

 

4.2
Third Party Information. Consultant understands that the Company has received and will in the future receive from third
parties confidential or proprietary information (“Third Party Information”) subject to a duty on
the Company’s part to maintain the confidentiality of such information and use it only for certain limited purposes.
Consultant agrees to hold Third Party Information in confidence and not to disclose to anyone (other than Company personnel)
or to use, except in connection with performing the Services, Third Party Information unless expressly authorized in writing
by an officer of the Company.

 

4.3
No Conflicting Arrangements. Consultant represents and warrants that Consultant has not performed since January 1, 2005,
and does not presently perform or intend to perform, any consulting or other services for, or engage in or intend to engage
in an employment relationship with, any third party who business or proposed business in any way involve products or services
which are, or are likely to be, directly or indirectly competitive with the Company’s products or services, or those
products or services proposed or in development by the Company during the term of this Agreement (“Competitive
Services”). If, however, Consultant in the future decides to provide Competitive Services, Consultant shall
provide the Company at least thirty (30) days’ prior written notice, specifying the name and address of the third
party, and sufficient information regarding the proposed Competitive Services to permit the Company to evaluate whether they
would conflict with (a) the terms of this Agreement, (b) the interests of the Company, or (c) further services which the
Company might request of Consultant. If the Company, in its sole discretion, determines that the proposed Competitive
Services would or are likely to conflict with any of (a) through (c) above, it will so notify Consultant in writing. If
Consultant thereafter enters into any agreement or arrangement relating to these Competitive Services, or provides
Competitive Services to this third party, this Agreement will terminate immediately as of that date, and the Company shall
have no further payment obligations of any kind to Consultant.

 

4.4
Confidential Information of Others. Consultant represents and warrants that, as of the Effective Date, Consultant’s
act of entering into this Agreement, acquiring any equity or other interest in the Company (if any), and providing Services
to the Company do not violate any outstanding agreement or obligation, of Consultant’s. Consultant further agrees that
it will not perform any Services for the Company which would conflict with any agreement or obligation of Consultant or which
would cause or result in any other person or entity having any ownership interest in any intellectual property of the
Company’s, and will promptly notify the Company in writing in the event that any proposed Services may conflict with
any such agreement or obligation, or result in such person or entity having any ownership interest. If the Company
determines, in its sole discretion, that any of the foregoing has occurred or is likely to occur, the Company may terminate
this Agreement immediately upon written notice.

 

5.
 Work Product and Intellectual Property Rights.

 

5.1
Disclosure of Work Product. As used in this Agreement, the term “Work Product” means any trade
secrets, ideas, inventions (whether patentable or unpatentable), antibodies and other biological materials, cell lines,
samples of assay components, mask works, processes, procedures, formulations, formulas, software source and object codes,
data, programs, other works of authorship, know-how, improvements, discoveries, developments, designs and techniques,
trademarks, manufacturing techniques, or other copyrightable or patentable works. Consultant agrees to disclose promptly in
writing to the Company, or any person designated by the Company, all Work Product which is solely or jointly conceived, made,
reduced to practice, or learned by Consultant in the course of any work performed for the Company (“Company Work
Product”).

 

5.2
Assignment of Company Work Product. Consultant irrevocably assigns to the Company all right, title and interest worldwide
in and to the Company Work Product and all applicable intellectual property rights related to the Company Work Product,
including without limitation, copyrights, trademarks, trade secrets, patents, moral rights, contract and licensing rights
(the “Proprietary Rights”). If Consultant has any rights to the Company Work Product that cannot be
assigned to the Company, Consultant unconditionally and irrevocably waives the enforcement of such rights, and all claims and
causes of action of any kind against the Company with respect to such rights, and agrees, at the Company’s request and
expense, to consent to and join in any action to enforce such rights. If Consultant has any right to the Company Work Product
that cannot be assigned to the Company or waived by Consultant, Consultant unconditionally and irrevocably grants to the
Company during the term of such rights, an exclusive, irrevocable, perpetual, worldwide, fully paid and royalty-free license,
with rights to sublicense through multiple levels of sublicensees, to reproduce, create derivative works of, distribute,
publicly perform and publicly display by all means now known or later developed, such rights.

 

    	-2-

    	 

    

 

5.3
Enforcement of Proprietary Rights. Consultant will assist the Company in every proper way to obtain, and from time to
time enforce, United States and foreign Proprietary Rights relating to Company Work Product in any and all countries. To that
end Consultant will execute, verify and deliver such documents and perform such other acts (including appearances as a
witness) as the Company may reasonably request for use in applying for, obtaining, perfecting, evidencing, sustaining and
enforcing such Proprietary Rights and the assignment thereof. In addition, Consultant will execute, verify and deliver
assignments of such Proprietary Rights to the Company or its designee. Consultant’s obligation to assist the Company
with respect to Proprietary Rights relating to such Company Work Product in any and all countries shall continue beyond the
termination of this Agreement, but the Company shall compensate Consultant at a reasonable rate after such termination for
the time actually spent by Consultant at the Company’s request on such assistance. In the event the Company is unable
for any reason, after reasonable effort, to secure Consultant’s signature on any document needed in connection with the
actions specified above, Consultant hereby irrevocably designates and appoints the Company and its duly authorized officers
and agents as its agent and attorney in fact, which appointment is coupled with an interest, to act for and in its behalf to
execute, verify and file any such documents and to do all other lawfully permitted acts to further the purposes of the
preceding paragraph with the same legal force and effect as if executed by Consultant.

 

6.
Consultant Representations and Warranties.
Consultant hereby represents and warrants that (a) no portion of the Services nor any element thereof will infringe the Proprietary
Rights of any third party; (b) Consultant will, and will cause its employees and agents to, comply with all applicable laws and
regulations in connection with the performance of the Services and its other obligations hereunder; and (c) Consultant has full
right and power to enter into and perform this Agreement without the consent of any third party or breach of any third party obligation.

 

 7. Term and Termination

 

7.1
Term. This Agreement shall be effective as of the Effective Date and shall continue in effect until August 1, 2016,
unless terminated earlier as provided herein.

 

7.2
Termination for Cause by the Company. Although the Company anticipates a mutually rewarding relationship with Consultant,
the Company may terminate Consultant’s engagement immediately at any time for Cause subject to the terms of this
Agreement. For purposes of this Agreement, “Cause” is defined as: (a) acts or omissions constituting gross
negligence, recklessness or willful misconduct on the part of Consultant with respect to Consultant’s obligations or
otherwise relating to the business of the Company; (b) any acts or conduct by Consultant that are materially adverse to the
Company’s interests; (c) Consultant’s material breach of this Agreement; (d) Consultant’s conviction or
entry of a plea of nolo contendere for fraud, misappropriation or embezzlement, or any felony or crime of moral turpitude or
that otherwise materially negatively impacts Consultant’s ability to effectively perform Consultant’s duties
hereunder; (e) Consultant’s willful neglect of duties as determined in the good faith discretion of the Board of
Directors (provided that poor performance and/or subpar results by themselves do not constitute Cause); or (f) the winding
down of the Company’s business and/or dissolution or liquidation of the Company (other than in connection with a change
in control). In the event of termination of Consultant’s engagement based on clauses (a), (b) or (e) above, Consultant
will have fifteen (15) days following receipt of notice from the Company to cure the issue, if curable. In the event
Consultant’s engagement is terminated in accordance with this subsection 7.2 Consultant shall be entitled to receive
only Consultant’s base cash compensation then in effect, prorated to the date of termination plus all benefits, if any,
accrued through the date of termination (collectively, “Standard Entitlements”). In addition, Consultant
shall be entitled to receive reimbursement of any business expenses, to the extent not previously reimbursed, in
accordance with Section 2 above. Except for any terms and conditions of this Agreement that by their terms survive
termination of Consultant’s engagement, all other Company obligations to Consultant pursuant to this Agreement will
become automatically terminated and completely extinguished. For clarification, the foregoing is an exclusive list of the
acts or omissions that shall be considered “Cause” for the termination of Consultant’s engagement by the
Company.

 

Termination
Without Cause. The Company may terminate Consultant’s engagement under this Agreement without Cause at any time by providing
90 days written notice to Consultant.

 

7.3
Resignation of Other Positions. Should Consultant’s engagement terminate for any reason, Consultant agrees to
immediately resign all other positions Consultant may hold with or on behalf of the Company, if any.

 

    	-3-

    	 

    

 

7.4
Application of Section 409A.

 

(i)
Notwithstanding anything set forth in this Agreement to the contrary, no amount payable pursuant to this Agreement which
constitutes a “deferral of compensation” within the meaning of the Treasury Regulations issued pursuant to
Section 409A of the Code (the “Section 409A Regulations”) that is to be paid based upon Consultant’s
termination of engagement shall be paid unless and until Consultant has incurred a “separation from service”
within the meaning of the Section 409A Regulations. Furthermore, to the extent that Consultant is a “specified
employee” within the meaning of the Section 409A Regulations as of the date of Consultant’s separation from
service, no amount that constitutes a deferral of compensation which is payable on account of Consultant’s separation
from service shall be paid to Consultant before the date (the “Delayed Payment Date”) which is the first
day of the seventh month after the date of Consultant’s separation from service or, if earlier, the date of
Consultant’s death following such separation from service. All such amounts that would, but for this Section, become
payable prior to the Delayed Payment Date will be accumulated and paid on the Delayed Payment Date.

 

(ii)
The Company intends that income provided to Consultant pursuant to this Agreement or otherwise will not be subject to
taxation under Section 409A of the Code and the Company shall utilize commercially reasonable efforts in administering this
Agreement and any payments or benefits to be provided to Consultant to ensure that Consultant is not subject to any such
taxation. The provisions of this Agreement shall be interpreted and construed in favor of satisfying any applicable
requirements of Section 409A of the Code. However, the Company does not guarantee any particular tax effect for income
provided to Consultant pursuant to this Agreement.

 

(iii)
Notwithstanding anything herein to the contrary, the reimbursement of expenses or in-kind benefits provided pursuant to this
Agreement shall be subject to the following conditions: (1) the expenses eligible for reimbursement or in-kind benefits in
one taxable year shall not affect the expenses eligible for reimbursement or in-kind benefits in any other taxable year; (2)
the reimbursement of eligible expenses or in-kind benefits shall be made promptly, subject to the Company’s applicable
policies, but in no event later than the end of the year after the year in which such expense was incurred; and (3) the right
to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit.

 

For
purposes of Section 409A of the Code, the right to a series of installment payments under this Agreement shall be treated as a
right to a series of separate payments.

 

7.5
Return of Company Property; Noninterference. Upon termination of the Agreement or earlier as requested by the Company,
Consultant will deliver to the Company any and all drawings, notes, memoranda, specifications, devices, formulas, and
documents, together with all copies thereof, and any other material containing or disclosing any Company Work Product, Third
Party Information or Confidential Information of the Company. Consultant further agrees that any property situated on the
Company’s premises and owned by the Company, including disks and other storage media, filing cabinets or other work
areas, is subject to inspection by the Company personnel at any time with or without notice. During the term, and for a
period of two (2) years immediately following the termination, of this Agreement, Consultant agrees not to solicit or induce
any employee or other service provider of the Company to terminate or breach an employment, contractual or other relationship
with the Company.

 

7.6
Survival. Sections 2 and 4 through 8 shall survive any termination or expiration of this Agreement.

 

 8. General Provisions.

 

8.1
Severability. In case any one or more of the provisions contained in this Agreement shall, for any reason, be held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect the other provisions
of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been
contained herein. If moreover, any one or more of the provisions contained in this Agreement shall for any reason be held to be
excessively broad as to duration, geographical scope, activity or subject, it shall be construed by limiting and reducing it,
so as to be enforceable to the extent compatible with the applicable law as it shall then appear.

 

8.2
Governing Law. This Agreement will be governed and construed in accordance with the laws of the State of California, without
reference to its conflicts of laws principles. Each party hereby expressly consents to the personal jurisdiction of the state
and federal courts located in Los Angeles County, California, with respect to any dispute arising out of or relating to this Agreement
or the subject matter hereof.

 

    	-4-

    	 

    

 

8.3
No Assignment. This Agreement may not be assigned by Consultant without the Company’s consent, and any such attempted
assignment shall be void and of no effect. The Company may assign this Agreement to any affiliate, successor or acquiror, whether
by operation of law or otherwise.

 

8.4
Notices. All notices, requests and other communications under this Agreement must be in writing, and must be sent by registered
or certified mail, postage prepaid and return receipt requested, overnight delivery, or facsimile.

 

8.5
Injunctive Relief. A breach of any of the promises or agreements contained in this Agreement may result in irreparable and
continuing damage to the Company for which there may be no adequate remedy at law, and the Company is therefore entitled to seek
injunctive relief as well as such other and further relief as may be appropriate.

 

8.6
Waiver. No waiver by the Company of any breach of this Agreement shall be a waiver of any preceding or succeeding breach.
No waiver by the Company of any right under this Agreement shall be construed as a waiver of any other right. The Company shall
not be required to give notice to enforce strict adherence to all terms of this Agreement.

 

8.7
Entire Agreement. This Agreement is the final, complete and exclusive agreement of the parties with respect to the subject
matter hereof and supersedes and merges all prior discussions between the Company and Consultant. No modification of or amendment
to this Agreement, nor any waiver of any rights under this Agreement, will be effective unless in writing and signed by the party
to be charged.

 

[Remainder
of Page Intentionally Left Blank; Signature Page Follows]

 

    	-5-

    	 

    

 

In
Witness Whereof, the parties have caused this Agreement to be
executed by their duly authorized representative.

 

Company:

 

Bone
Biologics, Corp.

 

	By:	/s/
    Bruce Stroever	 
	Name:	Bruce
    Stroever	 
	Title:	Chairman	 
	Address:	175
    May Street, Suite 400, 	 
	 	Edison,
    NJ 08837	 
	 	 	 
	Consultant:	 
	 	 
	T.O.
    Medical Development Inc. 	 
	 	 	 
	By:	/s/
    Carolyn Hazuka	 
	Name:	Carolyn
    Hazuka	 
	Title:	President/CEO	 
	Address:	100
    Rancho Road, 7-240	 
	 	Thousand
    Oaks, CA 91360	 

 

    	 

    	 

    

 

Exhibit
A

 

DESCRIPTION
OF SERVICES

 

The Services
shall include the following (without limitation):

 

		1.	Office
                                         administration;

 

		2.	Support
                                         and management of the outside audits of the Company’s financial statements;

 

		3.	Assistance
                                         with personnel recruiting;

 

		4.	Support
                                         for private placement of the Company’s equity securities, a PIPE, and IPO including
                                         preparation of a private placement memorandum (PPM); and all marketing material to support
                                         promotion of the Company in all fund raising.

 

		5.	Support
                                         for potential strategic transactions for the Company.

 

		6.	Support
                                         for the CEO and President for achieving all milestones of the Company

 

    	 

    	 

    

 

Exhibit
B

 

COMPENSATION

 

Time
Commitment:

 

At least
15 days/month.

 

Cash
Compensation:

 

Consultant
shall be paid a monthly payment of $15,000, of which $7,500 shall be payable on the 15th of each month and the remaining
$7,500 shall be payable on the last day of each month.

 

Stock
Options

 

Subject
to the approval of the Board of Directors, Consultant will be granted warrants (the “Warrant”) to purchase
3% of the Company’s fully diluted shares of $0.001 par value per share Common Stock outstanding as of the date of closing
of that certain merger of Bone Biologics Acquisition Corp. with and into Bone Biologics, Inc. pursuant to which Bone Biologics,
Inc. will survive and become a wholly-owned subsidiary of the Company at a strike price of $1.00 per share consistent with other
warrants issued at closing of the merger. The Warrant will vest over a two-year period from the Effective Date subject to Consultant’s
continued Service , with 33.33% of the shares subject to the Warrant becoming vested and exercisable on the date that this Agreement
is executed, 33.33% of the shares subject to the Warrant becoming vested and exercisable on the date that is twelve (12) months
after the Effective Date.and 33.34% of the shares subject to the Option vesting and becoming exercisable on the date that is twenty-four
(24) months after the Effective Date;, however, that all unvested shares subject to the Warrant (and any additional equity awards
hereafter issued by the Company to Consultant ) shall fully vest and be exercisable if Consultant’s Service ceases as a
result of a Termination without Cause occurring on or within twelve (12) months after a Change in Control (as defined in the Option
Plan)).BONE
BIOLOGICS, CORP.

 

2014
STOCK PLAN

 

    	 

    	 

    

 

Table
of Contents

 

	 	 	Page
	1.	Establishment, Purpose and Term of Plan 	1
	 	 	 
	 	1.1	Establishment 	1
	 	1.2	Purpose 	1
	 	1.3	Term of Plan 	1
	 	 	 	 
	2.	Definitions and Construction 	1
	 	 	 	 
	 	2.1	Definitions 	1
	 	2.2	Construction 	8
	 	 	 	 
	3.	Administration
	8
	 	 	 
	 	3.1	Administration by the Committee 	8
	 	3.2	Authority of Officers 	9
	 	3.3	Administration with Respect to Insiders 	9
	 	3.4	Committee Complying with Section 162(m) 	9
	 	3.5	Powers of the Committee 	9
	 	3.6	Option or SAR Repricing 	10
	 	3.7	Indemnification 	10
	 	 	 	 
	4.	Shares Subject to Plan 	11
	 	 	 
	 	4.1	Maximum Number of Shares Issuable 	11
	 	4.2	Annual Increase in Maximum Number of Shares Issuable 	11
	 	4.3	Share Counting 	11
	 	4.4	Adjustments for Changes in Capital Structure 	11
	 	4.5	Assumption or Substitution of Awards 	12
	 	 	 	 
	5.	Eligibility, Participation and Award Limitations 	12
	 	 	 
	 	5.1	Persons Eligible for Awards 	12
	 	5.2	Participation in the Plan 	12
	 	5.3	Award Limitations 	12
	 	 	 	 
	6.	Stock Options 	13
	 	 	 
	 	6.1	Exercise Price 	13
	 	6.2	Exercisability and Term of Options 	14
	 	6.3	Payment of Exercise Price 	14
	 	6.4	Effect of Termination of Service 	15
	 	6.5	Transferability of Options 	16

 

    	-i-

    	 

    

 

Table
of Contents

(continued)

 

	 	 	Page
	7.	Stock Appreciation Rights	16
	 	 	 
	 	7.1	Types of SARs Authorized 	16
	 	7.2	Exercise Price 	16
	 	7.3	Exercisability and Term of SARs 	17
	 	7.4	Exercise of SARs 	17
	 	7.5	Deemed Exercise of SARs 	18
	 	7.6	Effect of Termination of Service 	18
	 	7.7	Transferability of SARs 	18
	 	 	 	 
	8.	Restricted Stock Awards 	18
	 	 	 
	 	8.1	Types of Restricted Stock Awards Authorized 	18
	 	8.2	Purchase Price 	18
	 	8.3	Purchase Period 	19
	 	8.4	Payment of Purchase Price 	19
	 	8.5	Vesting and Restrictions on Transfer 	19
	 	8.6	Voting Rights; Dividends and Distributions 	19
	 	8.7	Effect of Termination of Service 	20
	 	8.8	Nontransferability of Restricted Stock Award Rights 	20
	 	 	 	 
	9.	Restricted Stock Unit Awards 	20
	 	 	 
	 	9.1	Grant of Restricted Stock Unit Awards 	20
	 	9.2	Purchase Price 	20
	 	9.3	Vesting 	21
	 	9.4	Voting Rights, Dividend Equivalent Rights and Distributions 	21
	 	9.5	Effect of Termination of Service 	22
	 	9.6	Settlement of Restricted Stock Unit Awards 	22
	 	9.7	Nontransferability of Restricted Stock Unit Awards 	22
	 	 	 	 
	10.	Performance Awards 	22
	 	 	 
	 	10.1	Types of Performance Awards Authorized 	22
	 	10.2	Initial Value of Performance Shares and Performance Units 	22
	 	10.3	Establishment of Performance Period, Performance Goals and Performance
    Award Formula 	23
	 	10.4	Measurement of Performance Goals 	23
	 	10.5	Settlement of Performance Awards 	25
	 	10.6	Voting Rights; Dividend Equivalent Rights and Distributions 	26
	 	10.7	Effect of Termination of Service 	27
	 	10.8	Nontransferability of Performance Awards 	27

 

    	-ii-

    	 

    

 

Table
of Contents

(continued)

 

	 	 	 	Page
	11.	 Cash-Based Awards and Other Stock-Based Awards	27
	 	 	 
	 	11.1
    	Grant
    of Cash-Based Awards 	27
	 	11.2
    	Grant
    of Other Stock-Based Awards 	28
	 	11.3
    	Value
    of Cash-Based and Other Stock-Based Awards 	28
	 	11.4
    	Payment
    or Settlement of Cash-Based Awards and Other Stock-Based Awards	28
	 	11.5
    	Voting
    Rights; Dividend Equivalent Rights and Distributions 	28
	 	11.6
    	Effect
    of Termination of Service	29
	 	11.7	Nontransferability
of Cash-Based Awards and Other Stock-Based Awards 	29
	 	 	 	 
	12.	Deferred Compensation Awards	29
	 	 	 
	 	12.1
    	Establishment
    of Deferred Compensation Award Programs 	29
	 	12.2
    	Terms
    and Conditions of Deferred Compensation Awards 	29
	 	 	 	 
	13.	 Standard Forms of Award Agreement 	30
	 	 	 
	 	13.1	Award Agreements
	30
	 	13.2
    	Authority
    to Vary Terms 	30
	 	 	 	 
	14.	Change in Control	 30
	 	 	 
	 	14.1	Effect
    of Change in Control on Awards 	30
	 	14.2
    	Effect
    of Change in Control on Nonemployee Director Awards 	31
	 	14.3
    	Federal
    Excise Tax Under Section 4999 of the Code 	32
	 	 	 	 
	15.	Compliance with Securities Law 	32
	 	 	 	 
	16.	Compliance with Section 409A 	33
	 	 	 	 
	 	16.1	Awards Subject
to Section 409A 	33
	 	16.2
    	Deferral
    and/or Distribution Elections 	33
	 	16.3
    	Subsequent
    Elections 	34
	 	16.4
    	Payment
    of Section 409A Deferred Compensation 	34
	 	 	 	 
	17.	 Tax Withholding 	36
	 	 	 
	 	17.1	Tax
    Withholding in General	 36
	 	17.2
    	Withholding
    in or Directed Sale of Shares 	36
	 	 	 	 
	18.	 Amendment, Suspension or Termination of Plan 	37
	 	 	 	 
	19.	Miscellaneous Provisions 	37
	 	 	 
	 	19.1	Repurchase
    Rights 	37
	 	19.2
    	Forfeiture
    Events 	37
	 	19.3
    	Provision
    of Information 	38
	 	19.4	Rights
    as Employee, Consultant or Director 	38
	 	19.5
    	Rights
    as a Shareholder 	38
	 	19.6
    	Delivery
    of Title to Shares 	38
	 	19.7
    	Fractional
    Shares 	38
	 	19.8
    	Retirement
    and Welfare Plans 	38
	 	19.9
    	Beneficiary
    Designation 	39
	 	19.10
    	Severability
    	39
	 	19.11
    	No
    Constraint on Corporate Action 	39
	 	19.12
    	Unfunded
    Obligation 	39
	 	19.13
    	Choice
    of Law 	39

 

    	-iii-

    	 

    

  

BONE
BIOLOGICS, CORP.

 

2014
Stock Plan

 

1.
Establishment, Purpose and Term of Plan.

 

1.1 Establishment.
The Bone Biologics, Corp. 2014 Stock Plan (the “Plan”) was approved by the Board on September 19,
2014, and shall be subject to approval by the shareholders of the Company at which time it shall become effective (the
“Effective Date”).

 

1.2
Purpose. The purpose of the Plan is to advance the interests of the Participating Company Group and its shareholders
by providing an incentive to attract, retain and reward persons performing services for the Participating Company Group and by
motivating such persons to contribute to the growth and profitability of the Participating Company Group. The Plan seeks to achieve
this purpose by providing for Awards in the form of Options, Stock Appreciation Rights, Restricted Stock Purchase Rights, Restricted
Stock Bonuses, Restricted Stock Units, Performance Shares, Performance Units, Cash-Based Awards, Other Stock-Based Awards, and
Deferred Compensation Awards.

 

1.3
Term of Plan. The Plan shall continue in effect until its termination by the Committee; provided, however, that all Awards
shall be granted, if at all, on or before ten (10) years from the earlier of the Plan’s adoption by the Board and its approval
by the shareholders of the Company.

 

2.
Definitions and Construction.

 

2.1
Definitions. Whenever used herein, the following terms shall have their respective meanings set forth below:

 

(a)
“Affiliate” means (i) a parent entity, other than a Parent Corporation, that directly, or indirectly
through one or more intermediary entities, controls the Company or (ii) a subsidiary entity, other than a Subsidiary Corporation,
that is controlled by the Company directly or indirectly through one or more intermediary entities. For this purpose, the terms
“parent,” “subsidiary,” “control” and “controlled by” shall have the meanings
assigned such terms for the purposes of registration of securities on Form S-8 under the Securities Act.

 

(b)
“Award” means any Option, Stock Appreciation Right, Restricted Stock Purchase Right, Restricted Stock
Bonus, Restricted Stock Unit, Performance Share, Performance Unit, Cash-Based Award, Other Stock-Based Award or Deferred Compensation
Award granted under the Plan.

 

(c)
“Award Agreement” means a written or electronic agreement between the Company and a Participant setting
forth the terms, conditions and restrictions applicable to an Award.

 

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

 

    	 

    	 

    

 

(e)
“Cash-Based Award” means an Award denominated in cash and granted pursuant to Section 11.

 

(f)
“Cashless Exercise” means a Cashless Exercise as defined in Section 6.3(b)(i).

 

(g)
“Cause” means, unless such term or an equivalent term is otherwise defined by the applicable Award Agreement
or other written agreement between a Participant and a Participating Company applicable to an Award, any of the following: (i)
acts or omissions constituting gross negligence, recklessness or willful misconduct on the part of the Participant with respect
to the Participant’s obligations or otherwise relating to the business of the Participating Company Group; (ii) any acts
or conduct by the Participant that are materially adverse to the Participating Company Group’s interests; (iii) the Participant’s
material breach of Company’s Employee Proprietary Information and Inventions Agreement, if any; (iv) the Participant’s
conviction or entry of a plea of nolo contendere for fraud, misappropriation or embezzlement, or any felony or crime of
moral turpitude or that otherwise materially negatively impacts the Participant’s ability to effectively perform the Participant’s
duties; (v) the Participant’s willful neglect of duties as determined in the good faith discretion of the Board (provided
that poor performance and/or subpar results by themselves do not constitute Cause); or (vi) the winding down of the Company’s
business and/or dissolution or liquidation of Company (other than in connection with a Change in Control).

 

(h)
“Change in Control” means, unless such term or an equivalent term is otherwise defined by the applicable
Award Agreement or other written agreement between the Participant and a Participating Company applicable to an Award, the occurrence
of any one or a combination of the following:

 

(i)
any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial
owner” (as such term is defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company
representing more than fifty percent (50%) of the total Fair Market Value or total combined voting power of the Company’s
then-outstanding securities entitled to vote generally in the election of Directors; provided, however, that a Change in Control
shall not be deemed to have occurred if such degree of beneficial ownership results from any of the following: (A) an acquisition
by any person who on the Effective Date is the beneficial owner of more than fifty percent (50%) of such voting power, (B) any
acquisition directly from the Company, including, without limitation, pursuant to or in connection with a public offering of securities,
(C) any acquisition by the Company, (D) any acquisition by a trustee or other fiduciary under an employee benefit plan of a Participating
Company or (E) any acquisition by an entity owned directly or indirectly by the shareholders of the Company in substantially the
same proportions as their ownership of the voting securities of the Company; or

 

(ii)
an Ownership Change Event or series of related Ownership Change Events (collectively, a “Transaction”)
in which the shareholders of the Company immediately before the Transaction do not retain immediately after the Transaction direct
or indirect beneficial ownership of more than fifty percent (50%) of the total combined voting power of the outstanding securities
entitled to vote generally in the election of Directors or, in the case of an Ownership Change Event described in Section 2.1(ff)(iii),
the entity to which the assets of the Company were transferred (the “Transferee”), as the case may be;
or

 

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(iii)
approval by the shareholders of a plan of complete liquidation or dissolution of the Company;

 

provided,
however, that a Change in Control shall be deemed not to include a transaction described in subsections (i) or (ii) of this Section
2.1(h) in which a majority of the members of the board of directors of the continuing, surviving or successor entity, or parent
thereof, immediately after such transaction is comprised of Incumbent Directors.

 

For
purposes of the preceding sentence, indirect beneficial ownership shall include, without limitation, an interest resulting from
ownership of the voting securities of one or more corporations or other business entities which own the Company or the Transferee,
as the case may be, either directly or through one or more subsidiary corporations or other business entities. The Committee shall
determine whether multiple acquisitions of the voting securities of the Company and/or multiple Ownership Change Events are related
and to be treated in the aggregate as a single Change in Control, and its determination shall be final, binding and conclusive.

 

(i)
“Code” means the Internal Revenue Code of 1986, as amended, and any applicable regulations or administrative
guidelines promulgated thereunder.

 

(j)
“Committee” means the Compensation Committee and such other committee or subcommittee of the Board,
if any, duly appointed to administer the Plan and having such powers in each instance as shall be specified by the Board. If,
at any time, there is no committee of the Board then authorized or properly constituted to administer the Plan, the Board shall
exercise all of the powers of the Committee granted herein, and, in any event, the Board may in its discretion exercise any or
all of such powers.

 

(k)
“Company” means Bone Biologics, Corp., a Nevada corporation, or any successor corporation thereto.

 

(l)
“Consultant” means a person engaged to provide consulting or advisory services (other than as an Employee
or a member of the Board) to a Participating Company, provided that the identity of such person, the nature of such services or
the entity to which such services are provided would not preclude the Company from offering or selling securities to such person
pursuant to the Plan in reliance on registration on Form S-8 under the Securities Act.

 

(m)
“Covered Employee” means, at any time the Plan is subject to Section 162(m), any Employee who is or
may reasonably be expected to become a “covered employee” as defined in Section 162(m), or any successor statute,
and who is designated, either as an individual Employee or a member of a class of Employees, by the Committee no later than the
earlier of (i) the date that is ninety (90) days after the beginning of the Performance Period, or (ii) the date on which twenty-five
percent (25%) of the Performance Period has elapsed, as a “Covered Employee” under this Plan for such applicable Performance
Period.

 

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(n)
“Deferred Compensation Award” means an Award granted to a Participant pursuant to Section 12.

 

(o)
“Director” means a member of the Board.

 

(p)
“Disability” means the permanent and total disability of the Participant, within the meaning of Section
22(e)(3) of the Code.

 

(q)
“Dividend Equivalent Right” means the right of a Participant, granted at the discretion of the Committee
or as otherwise provided by the Plan, to receive a credit for the account of such Participant in an amount equal to the cash dividends
paid on one share of Stock for each share of Stock represented by an Award held by such Participant.

 

(r)
“Employee” means any person treated as an employee (including an Officer or a member of the Board who
is also treated as an employee) in the records of a Participating Company and, with respect to any Incentive Stock Option granted
to such person, who is an employee for purposes of Section 422 of the Code; provided, however, that neither service as a member
of the Board nor payment of a director’s fee shall be sufficient to constitute employment for purposes of the Plan. The
Company shall determine in good faith and in the exercise of its discretion, whether an individual has become or has ceased to
be an Employee and the effective date of such individual’s employment or termination of employment, as the case may be.
For purposes of an individual’s rights, if any, under the terms of the Plan as of the time of the Company’s determination
of whether or not the individual is an Employee, all such determinations by the Company shall be final, binding and conclusive
as to such rights, if any, notwithstanding that the Company or any court of law or governmental agency subsequently makes a contrary
determination as to such individual’s status as an Employee.

 

(s)
“ERISA” means the Employee Retirement Income Security Act of 1974 and any applicable regulations or
administrative guidelines promulgated thereunder.

 

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

 

(u)
“Fair Market Value” means, as of any date, the value of a share of Stock or other property as determined
by the Committee, in its discretion, or by the Company, in its discretion, if such determination is expressly allocated to the
Company herein, subject to the following:

 

(i)
Except as otherwise determined by the Committee, if, on such date, the Stock is listed or quoted on a national or regional securities
exchange or quotation system, the Fair Market Value of a share of Stock shall be the closing price of a share of Stock as quoted
on the national or regional securities exchange or quotation system constituting the primary market for the Stock, as reported
in The Wall Street Journal or such other source as the Company deems reliable. If the relevant date does not fall on a
day on which the Stock has traded on such securities exchange or quotation system, the date on which the Fair Market Value shall
be established shall be the last day on which the Stock was so traded or quoted prior to the relevant date, or such other appropriate
day as shall be determined by the Committee, in its discretion.

 

    	4

    	 

    

 

(ii)
Notwithstanding the foregoing, the Committee may, in its discretion, determine the Fair Market Value of a share of Stock on the
basis of the opening, closing, or average of the high and low sale prices of a share of Stock on such date or the preceding trading
day, the actual sale price of a share of Stock received by a Participant, any other reasonable basis using actual transactions
in the Stock as reported on a national or regional securities exchange or quotation system, or on any other basis consistent with
the requirements of Section 409A. The Committee may vary its method of determination of the Fair Market Value as provided in this
Section for different purposes under the Plan to the extent consistent with the requirements of Section 409A.

 

(iii)
If, on such date, the Stock is not listed or quoted on a national or regional securities exchange or quotation system, the Fair
Market Value of a share of Stock shall be as determined by the Committee in good faith without regard to any restriction other
than a restriction which, by its terms, will never lapse, and in a manner consistent with the requirements of Section 409A.

 

(v)
“Incentive Stock Option” means an Option intended to be (as set forth in the Award Agreement) and which
qualifies as an incentive stock option within the meaning of Section 422(b) of the Code.

 

(w)
“Incumbent Director” means a director who either (i) is a member of the Board as of the Effective Date
or (ii) is elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the Incumbent
Directors at the time of such election or nomination (but excluding a director who was elected or nominated in connection with
an actual or threatened proxy contest relating to the election of directors of the Company).

 

(x)
“Insider” means an Officer, Director or any other person whose transactions in Stock are subject to
Section 16 of the Exchange Act.

 

(y)
“Net Exercise” means a Net Exercise as defined in Section 6.3(b)(iii).

 

(z)
“Nonemployee Director” means a Director who is not an Employee.

 

(aa)
“Nonemployee Director Award” means any Award granted to a Nonemployee Director.

 

(bb)
“Nonstatutory Stock Option” means an Option not intended to be (as set forth in the Award Agreement)
or which does not qualify as an incentive stock option within the meaning of Section 422(b) of the Code.

 

(cc)
“Officer” means any person designated by the Board as an officer of the Company.

 

(dd)
“Option” means an Incentive Stock Option or a Nonstatutory Stock Option granted pursuant to the Plan.

 

    	5

    	 

    

 

(ee)
“Other Stock-Based Award” means an Award denominated in shares of Stock and granted pursuant to Section
11.

 

(ff)
“Ownership Change Event” means the occurrence of any of the following with respect to the Company: (i)
the direct or indirect sale or exchange in a single or series of related transactions by the shareholders of the Company of securities
of the Company representing more than fifty percent (50%) of the total combined voting power of the Company’s then outstanding
securities entitled to vote generally in the election of Directors; (ii) a merger or consolidation in which the Company is a party;
or (iii) the sale, exchange, or transfer of all or substantially all of the assets of the Company (other than a sale, exchange
or transfer to one or more subsidiaries of the Company).

 

(gg)
“Parent Corporation” means any present or future “parent corporation” of the Company, as
defined in Section 424(e) of the Code.

 

(hh)
“Participant” means any eligible person who has been granted one or more Awards.

 

(ii)
“Participating Company” means the Company or any Parent Corporation, Subsidiary Corporation or Affiliate.

 

(jj)
“Participating Company Group” means, at any point in time, the Company and all other entities collectively
which are then Participating Companies.

 

(kk)
“Performance Award” means an Award of Performance Shares or Performance Units.

 

(ll)
“Performance Award Formula” means, for any Performance Award, a formula or table established by the
Committee pursuant to Section 10.3 which provides the basis for computing the value of a Performance Award at one or more levels
of attainment of the applicable Performance Goal(s) measured as of the end of the applicable Performance Period.

 

(mm)
“Performance-Based Compensation” means compensation under an Award that satisfies the requirements of
Section 162(m) for certain performance-based compensation paid to Covered Employees.

 

(nn)
“Performance Goal” means a performance goal established by the Committee pursuant to Section 10.3.

 

(oo)
“Performance Period” means a period established by the Committee pursuant to Section 10.3 at the end
of which one or more Performance Goals are to be measured.

 

(pp)
“Performance Share” means a right granted to a Participant pursuant to Section 10 to receive a payment
equal to the value of a Performance Share, as determined by the Committee, based upon attainment of applicable Performance Goal(s).

 

    	6

    	 

    

 

(qq)
“Performance Unit” means a right granted to a Participant pursuant to Section 10 to receive a
payment equal to the value of a Performance Unit, as determined by the Committee, based upon attainment of applicable
Performance Goal(s).

 

(rr)
“Restricted Stock Award” means an Award of a Restricted Stock Bonus or a Restricted Stock Purchase Right.

 

(ss)
“Restricted Stock Bonus” means Stock granted to a Participant pursuant to Section 8.

 

(tt)
“Restricted Stock Purchase Right” means a right to purchase Stock granted to a Participant pursuant
to Section 8.

 

(uu)
“Restricted Stock Unit” means a right granted to a Participant pursuant to Section 9 to receive on a
future date or event a share of Stock or cash in lieu thereof, as determined by the Committee.

 

(vv)
“Rule 16b-3” means Rule 16b-3 under the Exchange Act, as amended from time to time, or any successor
rule or regulation.

 

(ww)
“SAR” or “Stock Appreciation Right” means a right granted to a Participant
pursuant to Section 7 to receive payment, for each share of Stock subject to such Award, of an amount equal to the excess, if
any, of the Fair Market Value of a share of Stock on the date of exercise of the Award over the exercise price thereof.

 

(xx)
“Section 162(m)” means Section 162(m) of the Code.

 

(yy)
“Section 409A” means Section 409A of the Code.

 

(zz)
“Section 409A Deferred Compensation” means compensation provided pursuant to an Award that constitutes
nonqualified deferred compensation within the meaning of Section 409A.

 

(aaa)
“Securities Act” means the Securities Act of 1933, as amended.

 

(bbb)
“Service” means a Participant’s employment or service with the Participating Company Group, whether
as an Employee, a Director or a Consultant. Unless otherwise provided by the Committee, a Participant’s Service shall not
be deemed to have terminated merely because of a change in the capacity in which the Participant renders such Service or a change
in the Participating Company for which the Participant renders such Service, provided that there is no interruption or termination
of the Participant’s Service. Furthermore, a Participant’s Service shall not be deemed to have been interrupted or
terminated if the Participant takes any military leave, sick leave, or other bona fide leave of absence approved by the Company.
However, unless otherwise provided by the Committee, if any such leave taken by a Participant exceeds ninety (90) days, then on
the ninety-first (91st) day following the commencement of such leave the Participant’s Service shall be deemed to have terminated,
unless the Participant’s right to return to Service is guaranteed by statute or contract. Notwithstanding the foregoing,
unless otherwise designated by the Company or required by law, an unpaid leave of absence shall not be treated as Service for
purposes of determining vesting under the Participant’s Award Agreement. A Participant’s Service shall be deemed to
have terminated either upon an actual termination of Service or upon the business entity for which the Participant performs Service
ceasing to be a Participating Company. Subject to the foregoing, the Company, in its discretion, shall determine whether the Participant’s
Service has terminated and the effective date of such termination.

 

    	7

    	 

    

 

(ccc)
“Stock” means the common stock of the Company, as adjusted from time to time in accordance with Section
4.4.

 

(ddd)
“Stock Tender Exercise” means a Stock Tender Exercise as defined in Section 6.3(b)(ii).

 

(eee)
“Subsidiary Corporation” means any present or future “subsidiary corporation” of the Company,
as defined in Section 424(f) of the Code.

 

(fff)
“Ten Percent Owner” means a Participant who, at the time an Option is granted to the Participant, owns
stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of a Participating Company
(other than an Affiliate) within the meaning of Section 422(b)(6) of the Code.

 

(ggg)
“Trading Compliance Policy” means the written policy of the Company pertaining to the purchase, sale,
transfer or other disposition of the Company’s equity securities by Directors, Officers, Employees or other service providers
who may possess material, nonpublic information regarding the Company or its securities.

 

(hhh)
“Vesting Conditions” mean those conditions established in accordance with the Plan prior to the satisfaction
of which an Award or shares subject to an Award remain subject to forfeiture or a repurchase option in favor of the Company exercisable
for the Participant’s monetary purchase price, if any, for such shares upon the Participant’s termination of Service.

 

2.2
Construction. Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation
of any provision of the Plan. Except when otherwise indicated by the context, the singular shall include the plural and the plural
shall include the singular. Use of the term “or” is not intended to be exclusive, unless the context clearly requires
otherwise.

 

3.
Administration.

 

3.1
Administration by the Committee. The Plan shall be administered by the Committee. All questions of interpretation of the
Plan, of any Award Agreement or of any other form of agreement or other document employed by the Company in the administration
of the Plan or of any Award shall be determined by the Committee, and such determinations shall be final, binding and conclusive
upon all persons having an interest in the Plan or such Award, unless fraudulent or made in bad faith. Any and all actions, decisions
and determinations taken or made by the Committee in the exercise of its discretion pursuant to the Plan or Award Agreement or
other agreement thereunder (other than determining questions of interpretation pursuant to the preceding sentence) shall be final,
binding and conclusive upon all persons having an interest therein. All expenses incurred in the administration of the Plan shall
be paid by the Company.

 

    	8

    	 

    

 

3.2
Authority of Officers. Any Officer shall have the authority to act on behalf of the Company with respect to any matter,
right, obligation, determination or election which is the responsibility of or which is allocated to the Company herein, provided
that the Officer has apparent authority with respect to such matter, right, obligation, determination or election.

 

3.3
Administration with Respect to Insiders. With respect to participation by Insiders in the Plan, at any time that any class
of equity security of the Company is registered pursuant to Section 12 of the Exchange Act, the Plan shall be administered in
compliance with the requirements, if any, of Rule 16b-3.

 

3.4
Committee Complying with Section 162(m). If the Company is a “publicly held corporation” within the meaning
of Section 162(m), the Board may establish a Committee of “outside directors” within the meaning of Section 162(m)
to approve the grant of any Award intended to result in the payment of Performance-Based Compensation.

 

3.5
Powers of the Committee. In addition to any other powers set forth in the Plan and subject to the provisions of
the Plan, the Committee shall have the full and final power and authority, in its discretion:

 

(a)
to determine the persons to whom, and the time or times at which, Awards shall be granted and the number of shares of Stock, units
or monetary value to be subject to each Award;

 

(b)
to determine the type of Award granted;

 

(c)
to determine the Fair Market Value of shares of Stock or other property;

 

(d)
to determine the terms, conditions and restrictions applicable to each Award (which need not be identical) and any shares acquired
pursuant thereto, including, without limitation, (i) the exercise or purchase price of shares pursuant to any Award, (ii) the
method of payment for shares purchased pursuant to any Award, (iii) the method for satisfaction of any tax withholding obligation
arising in connection with any Award, including by the withholding or delivery of shares of Stock, (iv) the timing, terms and
conditions of the exercisability or vesting of any Award or any shares acquired pursuant thereto, (v) the Performance Measures,
Performance Period, Performance Award Formula and Performance Goals applicable to any Award and the extent to which such Performance
Goals have been attained, (vi) the time of the expiration of any Award, (vii) the effect of the Participant’s termination
of Service on any of the foregoing, and (viii) all other terms, conditions and restrictions applicable to any Award or shares
acquired pursuant thereto not inconsistent with the terms of the Plan;

 

    	9

    	 

    

 

(e)
to determine whether an Award will be settled in shares of Stock, cash, other property or in any combination thereof;

 

(f)
to approve one or more forms of Award Agreement;

 

(g)
to amend, modify, extend, cancel or renew any Award or to waive any restrictions or conditions applicable to any Award or any
shares acquired pursuant thereto;

 

(h)
to accelerate, continue, extend or defer the exercisability or vesting of any Award or any shares acquired pursuant thereto, including
with respect to the period following a Participant’s termination of Service;

 

(i)
to prescribe, amend or rescind rules, guidelines and policies relating to the Plan, or to adopt sub-plans or supplements to, or
alternative versions of, the Plan, including, without limitation, as the Committee deems necessary or desirable to comply with
the laws or regulations of or to accommodate the tax policy, accounting principles or custom of, foreign jurisdictions whose citizens
may be granted Awards; and

 

(j)
to correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Award Agreement and to make all other
determinations and take such other actions with respect to the Plan or any Award as the Committee may deem advisable to the extent
not inconsistent with the provisions of the Plan or applicable law.

 

3.6
Option or SAR Repricing. Without the affirmative vote of holders of a majority of the shares of Stock cast in person or
by proxy at a meeting of the shareholders of the Company at which a quorum representing a majority of all outstanding shares of
Stock is present or represented by proxy, the Committee shall not approve a program providing for either (a) the cancellation
of outstanding Options or SARs having exercise prices per share greater than the then Fair Market Value of a share of Stock (“Underwater
Awards”) and the grant in substitution therefore of new Options or SARs having a lower exercise price, Full Value Awards,
or payments in cash, or (b) the amendment of outstanding Underwater Awards to reduce the exercise price thereof. This Section
shall not apply to adjustments pursuant to the assumption of or substitution for an Option or SAR in a manner that would comply
with Section 424(a) or Section 409A of the Code or to an adjustment pursuant to Section 4.4.

 

3.7
Indemnification. In addition to such other rights of indemnification as they may have as members of the Board or the Committee
or as officers or employees of the Participating Company Group, to the extent permitted by applicable law, members of the Board
or the Committee and any officers or employees of the Participating Company Group to whom authority to act for the Board, the
Committee or the Company is delegated shall be indemnified by the Company against all reasonable expenses, including attorneys’
fees, actually and necessarily incurred in connection with the defense of any action, suit or proceeding, or in connection with
any appeal therein, to which they or any of them may be a party by reason of any action taken or failure to act under or in connection
with the Plan, or any right granted hereunder, and against all amounts paid by them in settlement thereof (provided such settlement
is approved by independent legal counsel selected by the Company) or paid by them in satisfaction of a judgment in any such action,
suit or proceeding, except in relation to matters as to which it shall be adjudged in such action, suit or proceeding that such
person is liable for gross negligence, bad faith or intentional misconduct in duties; provided, however, that within sixty (60)
days after the institution of such action, suit or proceeding, such person shall offer to the Company, in writing, the opportunity
at its own expense to handle and defend the same.

 

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4.
Shares Subject to Plan.

 

4.1
Maximum Number of Shares Issuable. Subject to adjustment as provided in Sections 4.2 and 4.3, the maximum aggregate number
of shares of Stock that may be issued under the Plan pursuant to Awards shall be equal to 2,642,898 and shall consist of authorized
but unissued or reacquired shares of Stock or any combination thereof.

 

4.2
Annual Increase in Maximum Number of Shares Issuable. Subject to adjustment as provided in Section 4.4, the maximum aggregate
number of shares of Stock that may be issued under the Plan as set forth in Section 4.1 may be increased by the Board in January
2015, and on each subsequent January through and including January 2024, by up to the number of shares of Stock equal to 5% of
the number of shares of Stock issued and outstanding on the immediately preceding December 31.

 

4.3
Share Counting. If an outstanding Award for any reason expires or is terminated or canceled without having been exercised
or settled in full, or if shares of Stock acquired pursuant to an Award subject to forfeiture or repurchase are forfeited or repurchased
by the Company for an amount not greater than the Participant’s purchase price, the shares of Stock allocable to the terminated
portion of such Award or such forfeited or repurchased shares of Stock shall again be available for issuance under the Plan. Shares
of Stock shall not be deemed to have been issued pursuant to the Plan with respect to any portion of an Award that is settled
in cash. Shares withheld or reacquired by the Company in satisfaction of tax withholding obligations applicable to SARs
and Options pursuant to Section 17.2 shall not again be available for issuance under the Plan. Upon payment in shares of Stock
pursuant to the exercise of an SAR, the number of shares available for issuance under the Plan shall be reduced by the gross number
of shares for which the SAR is exercised. If the exercise price of an Option is paid by tender to the Company, or attestation
to the ownership, of shares of Stock owned by the Participant, or by means of a Net-Exercise, the number of shares available for
issuance under the Plan shall be reduced by the gross number of shares for which the Option is exercised.

 

4.4
Adjustments for Changes in Capital Structure. Subject to any required action by the shareholders of the Company
and the requirements of Sections 409A and 424 of the Code to the extent applicable, in the event of any change in the Stock effected
without receipt of consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization,
reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange
of shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution
to the shareholders of the Company in a form other than Stock (excepting regular, periodic cash dividends) that has a material
effect on the Fair Market Value of shares of Stock, appropriate and proportionate adjustments shall be made in the number and
kind of shares subject to the Plan and to any outstanding Awards, the Award limits set forth in Section 5.3, and in the exercise
or purchase price per share under any outstanding Award in order to prevent dilution or enlargement of Participants’ rights
under the Plan. For purposes of the foregoing, conversion of any convertible securities of the Company shall not be treated as
“effected without receipt of consideration by the Company.” If a majority of the shares which are of the same class
as the shares that are subject to outstanding Awards are exchanged for, converted into, or otherwise become (whether or not pursuant
to an Ownership Change Event) shares of another corporation (the “New Shares”), the Committee may unilaterally
amend the outstanding Awards to provide that such Awards are for New Shares. In the event of any such amendment, the number of
shares subject to, and the exercise or purchase price per share of, the outstanding Awards shall be adjusted in a fair and equitable
manner as determined by the Committee, in its discretion. Any fractional share resulting from an adjustment pursuant to this Section
shall be rounded down to the nearest whole number, and in no event may the exercise or purchase price under any Award be decreased
to an amount less than the par value, if any, of the stock subject to such Award. The Committee in its discretion, may also make
such adjustments in the terms of any Award to reflect, or related to, such changes in the capital structure of the Company or
distributions as it deems appropriate, including modification of Performance Goals, Performance Award Formulas and Performance
Periods. The adjustments determined by the Committee pursuant to this Section shall be final, binding and conclusive.

 

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4.5
Assumption or Substitution of Awards. The Committee may, without affecting the number of shares of Stock reserved or available
hereunder, authorize the issuance or assumption of benefits under this Plan in connection with any merger, consolidation, acquisition
of property or stock, or reorganization upon such terms and conditions as it may deem appropriate, subject to compliance with
Section 409A and any other applicable provisions of the Code.

 

5.
Eligibility, Participation and Award Limitations.

 

5.1
Persons Eligible for Awards. Awards may be granted only to Employees, Consultants and Directors.

 

5.2
Participation in the Plan. Awards are granted solely at the discretion of the Committee. Eligible persons may be granted
more than one Award. However, eligibility in accordance with this Section shall not entitle any person to be granted an Award,
or, having been granted an Award, to be granted an additional Award.

 

5.3
Award Limitations.

 

(a)
Incentive Stock Option Limitations.

 

(i)
Maximum Number of Shares Issuable Pursuant to Incentive Stock Options. Subject to adjustment as provided in Sections 4.2
and 4.3, the maximum aggregate number of shares of Stock that may be issued under the Plan pursuant to the exercise of Incentive
Stock Options shall not exceed 2,642,898.

 

(ii)
Persons Eligible. An Incentive Stock Option may be granted only to a person who, on the effective date of grant, is an
Employee of the Company, a Parent Corporation or a Subsidiary Corporation (each being an “ISO-Qualifying Corporation”).
Any person who is not an Employee of an ISO-Qualifying Corporation on the effective date of the grant of an Option to such person
may be granted only a Nonstatutory Stock Option.

 

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(iii)
Fair Market Value Limitation. To the extent that options designated as Incentive Stock Options (granted under all stock
option plans of the Participating Company Group, including the Plan) become exercisable by a Participant for the first time during
any calendar year for stock having a Fair Market Value greater than One Hundred Thousand Dollars ($100,000), the portion of such
options which exceeds such amount shall be treated as Nonstatutory Stock Options. For purposes of this Section, options designated
as Incentive Stock Options shall be taken into account in the order in which they were granted, and the Fair Market Value of stock
shall be determined as of the time the option with respect to such stock is granted. If the Code is amended to provide for a limitation
different from that set forth in this Section, such different limitation shall be deemed incorporated herein effective as of the
date and with respect to such Options as required or permitted by such amendment to the Code. If an Option is treated as an Incentive
Stock Option in part and as a Nonstatutory Stock Option in part by reason of the limitation set forth in this Section, the Participant
may designate which portion of such Option the Participant is exercising. In the absence of such designation, the Participant
shall be deemed to have exercised the Incentive Stock Option portion of the Option first. Upon exercise, shares issued pursuant
to each such portion shall be separately identified.

 

(b)
Section 162(m) Award Limits. Subject to adjustment as provided in Section 4.4, no Employee shall be granted within
any fiscal year of the Company one or more Awards intended to qualify for treatment as Performance-Based Compensation which in
the aggregate are for more than 500,000 shares or, if applicable, which could result in such Employee receiving more than $2,000,000
for each full fiscal year of the Company contained in the Performance Period for such Award. Notwithstanding the foregoing, with
respect to a newly hired Participant, the share limit set forth above shall be 1,000,000. With respect to an Award of Performance
Based Compensation payable in cash, the maximum amount shall be $3,000,000 for each fiscal year contained in the Performance Period.

 

6.
Stock Options.

 

Options
shall be evidenced by Award Agreements specifying the number of shares of Stock covered thereby, in such form as the Committee
shall from time to time establish. Award Agreements evidencing Options may incorporate all or any of the terms of the Plan by
reference and shall comply with and be subject to the following terms and conditions:

 

6.1
Exercise Price. The exercise price for each Option shall be established in the discretion of the Committee; provided, however,
that (a) the exercise price per share shall be not less than the Fair Market Value of a share of Stock on the effective date of
grant of the Option and (b) no Incentive Stock Option granted to a Ten Percent Owner shall have an exercise price per share less
than one hundred ten percent (110%) of the Fair Market Value of a share of Stock on the effective date of grant of the Option.
Notwithstanding the foregoing, an Option (whether an Incentive Stock Option or a Nonstatutory Stock Option) may be granted with
an exercise price lower than the minimum exercise price set forth above if such Option is granted pursuant to an assumption or
substitution for another option in a manner that would qualify under the provisions of Section 409A or 424(a) of the Code.

 

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6.2
Exercisability and Term of Options. Options shall be exercisable at such time or times, or upon such event or events, and
subject to such terms, conditions, performance criteria and restrictions as shall be determined by the Committee and set forth
in the Award Agreement evidencing such Option; provided, however, that (a) no Option shall be exercisable after the expiration
of ten (10) years after the effective date of grant of such Option, (b) no Incentive Stock Option granted to a Ten Percent Owner
shall be exercisable after the expiration of five (5) years after the effective date of grant of such Option and (c) no Option
granted to an Employee who is a non-exempt employee for purposes of the Fair Labor Standards Act of 1938, as amended, shall be
first exercisable until at least six (6) months following the date of grant of such Option (except in the event of such Employee’s
death, disability or retirement, upon a Change in Control, or as otherwise permitted by the Worker Economic Opportunity Act).
Subject to the foregoing, unless otherwise specified by the Committee in the grant of an Option, each Option shall terminate ten
(10) years after the effective date of grant of the Option, unless earlier terminated in accordance with its provisions.

 

6.3
Payment of Exercise Price.

 

(a)
Forms of Consideration Authorized. Except as otherwise provided below, payment of the exercise price for the number
of shares of Stock being purchased pursuant to any Option shall be made (i) in cash, by check or in cash equivalent; (ii) if permitted
by the Committee and subject to the limitations contained in Section 6.3(b), by means of (1) a Cashless Exercise, (2) a Stock
Tender Exercise or (3) a Net Exercise; (iii) by such other consideration as may be approved by the Committee from time to time
to the extent permitted by applicable law, or (iv) by any combination thereof. The Committee may at any time or from time to time
grant Options which do not permit all of the foregoing forms of consideration to be used in payment of the exercise price or which
otherwise restrict one or more forms of consideration.

 

(b)
Limitations on Forms of Consideration.

 

(i)
Cashless Exercise. A “Cashless Exercise” means the delivery of a properly executed notice of
exercise together with irrevocable instructions to a broker providing for the assignment to the Company of the proceeds of a sale
or loan with respect to some or all of the shares being acquired upon the exercise of the Option (including, without limitation,
through an exercise complying with the provisions of Regulation T as promulgated from time to time by the Board of Governors of
the Federal Reserve System). The Company reserves, at any and all times, the right, in the Company’s sole and absolute discretion,
to establish, decline to approve or terminate any program or procedures for the exercise of Options by means of a Cashless Exercise,
including with respect to one or more Participants specified by the Company notwithstanding that such program or procedures may
be available to other Participants.

 

(ii)
Stock Tender Exercise. A “Stock Tender Exercise” means the delivery of a properly executed exercise
notice accompanies by a Participant’s tender to the Company, or attestation to the ownership, in a form acceptable to the
Company of whole shares of Stock owned by the Participant having a Fair Market Value that does not exceed the aggregate exercise
price for the shares with respect to which the Option is exercised. A Stock Tender Exercise shall not be permitted if it would
constitute a violation of the provisions of any law, regulation or agreement restricting the redemption of the Company’s
stock. If required by the Company, an Option may not be exercised by tender to the Company, or attestation to the ownership, of
shares of Stock unless such shares either have been owned by the Participant for a period of time required by the Company (and
not used for another option exercise by attestation during such period) or were not acquired, directly or indirectly, from the
Company.

 

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(iii)
Net Exercise. A “Net Exercise” means the delivery of a properly executed exercise notice followed
by a procedure pursuant to which (1) the Company will reduce the number of shares otherwise issuable to a Participant upon the
exercise of an Option by the largest whole number of shares having a Fair Market Value that does not exceed the aggregate exercise
price for the shares with respect to which the Option is exercised, and (2) the Participant shall pay to the Company in cash the
remaining balance of such aggregate exercise price not satisfied by such reduction in the number of whole shares to be issued.

 

6.4
Effect of Termination of Service.

 

(a)
Option Exercisability. Subject to earlier termination of the Option as otherwise provided by this Plan and unless
otherwise provided by the Committee, an Option shall terminate immediately upon the Participant’s termination of Service
to the extent that it is then unvested and shall be exercisable after the Participant’s termination of Service to the extent
it is then vested only during the applicable time period determined in accordance with this Section and thereafter shall terminate.
Except as otherwise provided in the Award Agreement, or other agreement governing the Option, vested Options shall remain exercisable
following a termination of Service as follows:

 

(i)
Disability. If the Participant’s Service terminates because of the Disability of the Participant, the Option, to
the extent unexercised and exercisable for vested shares on the date on which the Participant’s Service terminated, may
be exercised by the Participant (or the Participant’s guardian or legal representative) at any time prior to the expiration
of twelve (12) months after the date on which the Participant’s Service terminated, but in any event no later than the date
of expiration of the Option’s term as set forth in the Award Agreement evidencing such Option (the “Option Expiration
Date”).

 

(ii)
Death. If the Participant’s Service terminates because of the death of the Participant, the Option, to the extent
unexercised and exercisable for vested shares on the date on which the Participant’s Service terminated, may be exercised
by the Participant’s legal representative or other person who acquired the right to exercise the Option by reason of the
Participant’s death at any time prior to the expiration of twelve (12) months after the date on which the Participant’s
Service terminated, but in any event no later than the Option Expiration Date. The Participant’s Service shall be deemed
to have terminated on account of death if the Participant dies within three (3) months after the Participant’s termination
of Service.

 

(iii)
Termination for Cause. Notwithstanding any other provision of the Plan to the contrary, if the Participant’s Service
is terminated for Cause or if, following the Participant’s termination of Service and during any period in which the Option
otherwise would remain exercisable, the Participant engages in any act that would constitute Cause, the Option shall terminate
in its entirety and cease to be exercisable immediately upon such termination of Service or act.

 

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(iv)
Other Termination of Service. If the Participant’s Service terminates for any reason, except Disability, death or
Cause, the Option, to the extent unexercised and exercisable for vested shares on the date on which the Participant’s Service
terminated, may be exercised by the Participant at any time prior to the expiration of ninety (90) days after the date on which
the Participant’s Service terminated, but in any event no later than the Option Expiration Date.

 

(b)
Extension if Exercise Prevented by Law. Notwithstanding the foregoing, other than termination of Service for Cause,
if the exercise of an Option within the applicable time periods set forth in Section 6.4(a) is prevented by the provisions of
Section 15 below, the Option shall remain exercisable until the later of (i) thirty (30) days after the date such exercise first
would no longer be prevented by such provisions or (ii) the end of the applicable time period under Section 6.4(a), but in any
event no later than the Option Expiration Date.

 

6.5
Transferability of Options. During the lifetime of the Participant, an Option shall be exercisable only by the Participant
or the Participant’s guardian or legal representative. An Option shall not be subject in any manner to anticipation, alienation,
sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors of the Participant or the Participant’s
beneficiary, except transfer by will or by the laws of descent and distribution. Notwithstanding the foregoing, to the extent
permitted by the Committee, in its discretion, and set forth in the Award Agreement evidencing such Option, a Nonstatutory Stock
Option may be assignable or transferable subject to the applicable limitations, if any, described in the General Instructions
to Form S-8 under the Securities Act. An Incentive Stock Option shall not be assignable or transferable in any manner.

 

7.
Stock Appreciation Rights.

 

Stock
Appreciation Rights shall be evidenced by Award Agreements specifying the number of shares of Stock subject to the Award, in such
form as the Committee shall from time to time establish. Award Agreements evidencing SARs may incorporate all or any of the terms
of the Plan by reference and shall comply with and be subject to the following terms and conditions:

 

7.1
Types of SARs Authorized. SARs may be granted in tandem with all or any portion of a related Option (a “Tandem
SAR”) or may be granted independently of any Option (a “Freestanding SAR”). A Tandem SAR
may only be granted concurrently with the grant of the related Option.

 

7.2
Exercise Price. The exercise price for each SAR shall be established in the discretion of the Committee; provided, however,
that (a) the exercise price per share subject to a Tandem SAR shall be the exercise price per share under the related Option and
(b) the exercise price per share subject to a Freestanding SAR shall be not less than the Fair Market Value of a share of Stock
on the effective date of grant of the SAR. Notwithstanding the foregoing, a SAR may be granted with an exercise price lower than
the minimum exercise price set forth above if such SAR is granted pursuant to an assumption or substitution for another stock
appreciation right in a manner that would qualify under the provisions of Section 409A of the Code.

 

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7.3
Exercisability and Term of SARs.

 

(a)
Tandem SARs. Tandem SARs shall be exercisable only at the time and to the extent, and only to the extent, that the
related Option is exercisable, subject to such provisions as the Committee may specify where the Tandem SAR is granted with respect
to less than the full number of shares of Stock subject to the related Option. The Committee may, in its discretion, provide in
any Award Agreement evidencing a Tandem SAR that such SAR may not be exercised without the advance approval of the Company and,
if such approval is not given, then the Option shall nevertheless remain exercisable in accordance with its terms. A Tandem SAR
shall terminate and cease to be exercisable no later than the date on which the related Option expires or is terminated or canceled.
Upon the exercise of a Tandem SAR with respect to some or all of the shares subject to such SAR, the related Option shall be canceled
automatically as to the number of shares with respect to which the Tandem SAR was exercised. Upon the exercise of an Option related
to a Tandem SAR as to some or all of the shares subject to such Option, the related Tandem SAR shall be canceled automatically
as to the number of shares with respect to which the related Option was exercised.

 

(b)
Freestanding SARs. Freestanding SARs shall be exercisable at such time or times, or upon such event or events, and
subject to such terms, conditions, performance criteria and restrictions as shall be determined by the Committee and set forth
in the Award Agreement evidencing such SAR; provided, however, that (i) no Freestanding SAR shall be exercisable after the expiration
of ten (10) years after the effective date of grant of such SAR, and (ii) no Freestanding SAR granted to an Employee who is a
non-exempt employee for purposes of the Fair Labor Standards Act of 1938, as amended, shall be first exercisable until at least
six (6) months following the date of grant of such SAR (except in the event of such Employee’s death, disability or retirement,
upon a Change in Control, or as otherwise permitted by the Worker Economic Opportunity Act). Subject to the foregoing, unless
otherwise specified by the Committee in the grant of a Freestanding SAR, each Freestanding SAR shall terminate ten (10) years
after the effective date of grant of the SAR, unless earlier terminated in accordance with its provisions.

 

7.4
Exercise of SARs. Upon the exercise (or deemed exercise pursuant to Section 7.5) of an SAR, the Participant (or the Participant’s
legal representative or other person who acquired the right to exercise the SAR by reason of the Participant’s death) shall
be entitled to receive payment of an amount for each share with respect to which the SAR is exercised equal to the excess, if
any, of the Fair Market Value of a share of Stock on the date of exercise of the SAR over the exercise price. Payment of such
amount shall be made (a) in the case of a Tandem SAR, solely in shares of Stock in a lump sum upon the date of exercise of the
SAR and (b) in the case of a Freestanding SAR, in cash, shares of Stock, or any combination thereof as determined by the Committee,
in a lump sum upon the date of exercise of the SAR. When payment is to be made in shares of Stock, the number of shares to be
issued shall be determined on the basis of the Fair Market Value of a share of Stock on the date of exercise of the SAR. For purposes
of Section 7, an SAR shall be deemed exercised on the date on which the Company receives notice of exercise from the Participant
or as otherwise provided in Section 7.5.

 

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7.5
Deemed Exercise of SARs. If, on the date on which an SAR would otherwise terminate or expire, the SAR by its terms remains
exercisable immediately prior to such termination or expiration and, if so exercised, would result in a payment to the holder
of such SAR, then any portion of such SAR which has not previously been exercised shall automatically be deemed to be exercised
as of such date with respect to such portion pursuant to a Net Exercise procedure and withholding of Shares as described in Section
17.2.

 

7.6
Effect of Termination of Service. Subject to earlier termination of the SAR as otherwise provided herein and unless otherwise
provided by the Committee, an SAR shall be exercisable after a Participant’s termination of Service only to the extent and
during the applicable time period determined in accordance with Section 6.4 (treating the SAR as if it were an Option) and thereafter
shall terminate.

 

7.7
Transferability of SARs. During the lifetime of the Participant, an SAR shall be exercisable only by the Participant or
the Participant’s guardian or legal representative. An SAR shall not be subject in any manner to anticipation, alienation,
sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors of the Participant or the Participant’s
beneficiary, except transfer by will or by the laws of descent and distribution. Notwithstanding the foregoing, to the extent
permitted by the Committee, in its discretion, and set forth in the Award Agreement evidencing such Award, a Tandem SAR related
to a Nonstatutory Stock Option or a Freestanding SAR may be assignable or transferable subject to the applicable limitations,
if any, described in the General Instructions to Form S-8 under the Securities Act.

 

8.
Restricted Stock Awards.

 

Restricted
Stock Awards shall be evidenced by Award Agreements specifying whether the Award is a Restricted Stock Bonus or a Restricted Stock
Purchase Right and the number of shares of Stock subject to the Award, in such form as the Committee shall from time to time establish.
Award Agreements evidencing Restricted Stock Awards may incorporate all or any of the terms of the Plan by reference and shall
comply with and be subject to the following terms and conditions:

 

8.1
Types of Restricted Stock Awards Authorized. Restricted Stock Awards may be granted in the form of either a Restricted
Stock Bonus or a Restricted Stock Purchase Right. Restricted Stock Awards may be granted upon such conditions as the Committee
shall determine, including, without limitation, upon the attainment of one or more Performance Goals described in Section 10.4.
If either the grant of or satisfaction of Vesting Conditions applicable to a Restricted Stock Award is to be contingent upon the
attainment of one or more Performance Goals, the Committee shall follow procedures substantially equivalent to those set forth
in Sections 10.3 through 10.5(a).

 

8.2
Purchase Price. The purchase price for shares of Stock issuable under each Restricted Stock Purchase Right shall be established
by the Committee in its discretion. No monetary payment (other than applicable tax withholding) shall be required as a condition
of receiving shares of Stock pursuant to a Restricted Stock Bonus, the consideration for which shall be services actually rendered
to a Participating Company or for its benefit. Notwithstanding the foregoing, if required by applicable state corporate law, the
Participant shall furnish consideration in the form of cash or past services rendered to a Participating Company or for its benefit
having a value not less than the par value of the shares of Stock subject to a Restricted Stock Award.

 

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8.3
Purchase Period. A Restricted Stock Purchase Right shall be exercisable within a period established by the Committee, which
shall in no event exceed thirty (30) days from the effective date of the grant of the Restricted Stock Purchase Right.

 

8.4
Payment of Purchase Price. Except as otherwise provided below, payment of the purchase price for the number of shares of
Stock being purchased pursuant to any Restricted Stock Purchase Right shall be made (a) in cash, by check or in cash equivalent,
(b) by such other consideration as may be approved by the Committee from time to time to the extent permitted by applicable law,
or (c) by any combination thereof.

 

8.5
Vesting and Restrictions on Transfer. Shares issued pursuant to any Restricted Stock Award may (but need not) be made subject
to Vesting Conditions based upon the satisfaction of such Service requirements, conditions, restrictions or performance criteria,
including, without limitation, Performance Goals as described in Section 10.4, as shall be established by the Committee and set
forth in the Award Agreement evidencing such Award. During any period in which shares acquired pursuant to a Restricted Stock
Award remain subject to Vesting Conditions, such shares may not be sold, exchanged, transferred, pledged, assigned or otherwise
disposed of other than pursuant to an Ownership Change Event or as provided in Section 8.8. The Committee, in its discretion,
may provide in any Award Agreement evidencing a Restricted Stock Award that, if the satisfaction of Vesting Conditions with respect
to any shares subject to such Restricted Stock Award would otherwise occur on a day on which the sale of such shares would violate
the provisions of the Trading Compliance Policy, then satisfaction of the Vesting Conditions automatically shall be determined
on the next trading day on which the sale of such shares would not violate the Trading Compliance Policy. Upon request by the
Company, each Participant shall execute any agreement evidencing such transfer restrictions prior to the receipt of shares of
Stock hereunder and shall promptly present to the Company any and all certificates representing shares of Stock acquired hereunder
for the placement on such certificates of appropriate legends evidencing any such transfer restrictions.

 

8.6
Voting Rights; Dividends and Distributions. Except as provided in this Section, Section 8.5 and any Award Agreement, during
any period in which shares acquired pursuant to a Restricted Stock Award remain subject to Vesting Conditions, the Participant
shall have all of the rights of a shareholder of the Company holding shares of Stock, including the right to vote such shares
and to receive all dividends and other distributions paid with respect to such shares; provided, however, unless otherwise determined
by the Committee and provided by the Award Agreement, such dividends and distributions shall be subject to the same Vesting Conditions
as the shares subject to the Restricted Stock Award with respect to which such dividends or distributions were paid, and otherwise
shall be paid no later than the end of the calendar year in which such dividends or distributions are paid to shareholders (or,
if later, the 15th day of the third month following the date such dividends or distributions are paid to shareholders). In the
event of a dividend or distribution paid in shares of Stock or other property or any other adjustment made upon a change in the
capital structure of the Company as described in Section 4.4, any and all new, substituted or additional securities or other property
(other than regular, periodic cash dividends) to which the Participant is entitled by reason of the Participant’s Restricted
Stock Award shall be immediately subject to the same Vesting Conditions as the shares subject to the Restricted Stock Award with
respect to which such dividends or distributions were paid or adjustments were made.

 

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8.7
Effect of Termination of Service. Unless otherwise provided by the Committee in the Award Agreement evidencing a Restricted
Stock Award, if a Participant’s Service terminates for any reason, whether voluntary or involuntary (including the Participant’s
death or disability), then (a) the Company shall have the option to repurchase for the purchase price paid by the Participant
any shares acquired by the Participant pursuant to a Restricted Stock Purchase Right which remain subject to Vesting Conditions
as of the date of the Participant’s termination of Service and (b) the Participant shall forfeit to the Company any shares
acquired by the Participant pursuant to a Restricted Stock Bonus which remain subject to Vesting Conditions as of the date of
the Participant’s termination of Service. The Company shall have the right to assign at any time any repurchase right it
may have, whether or not such right is then exercisable, to one or more persons as may be selected by the Company.

 

8.8
Nontransferability of Restricted Stock Award Rights. Rights to acquire shares of Stock pursuant to a Restricted Stock Award
shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance or garnishment
by creditors of the Participant or the Participant’s beneficiary, except transfer by will or the laws of descent and distribution.
All rights with respect to a Restricted Stock Award granted to a Participant hereunder shall be exercisable during his or her
lifetime only by such Participant or the Participant’s guardian or legal representative.

 

9.
Restricted Stock Unit Awards. Restricted Stock Unit
Awards shall be evidenced by Award Agreements specifying the number of Restricted Stock Units subject to the Award, in such form
as the Committee shall from time to time establish. Award Agreements evidencing Restricted Stock Units may incorporate all or
any of the terms of the Plan by reference and shall comply with and be subject to the following terms and conditions:

 

9.1
Grant of Restricted Stock Unit Awards. Restricted Stock Unit Awards may be granted upon such conditions as the Committee
shall determine, including, without limitation, upon the attainment of one or more Performance Goals described in Section 10.4.
If either the grant of a Restricted Stock Unit Award or the Vesting Conditions with respect to such Award is to be contingent
upon the attainment of one or more Performance Goals, the Committee shall follow procedures substantially equivalent to those
set forth in Sections 10.3 through 10.5(a).

 

9.2
Purchase Price. No monetary payment (other than applicable tax withholding, if any) shall be required as a condition of
receiving a Restricted Stock Unit Award, the consideration for which shall be services actually rendered to a Participating Company
or for its benefit. Notwithstanding the foregoing, if required by applicable state corporate law, the Participant shall furnish
consideration in the form of cash or past services rendered to a Participating Company or for its benefit having a value not less
than the par value of the shares of Stock issued upon settlement of the Restricted Stock Unit Award.

 

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9.3
Vesting. Restricted Stock Unit Awards may (but need not) be made subject to Vesting Conditions based upon the satisfaction
of such Service requirements, conditions, restrictions or performance criteria, including, without limitation, Performance Goals
as described in Section 10.4, as shall be established by the Committee and set forth in the Award Agreement evidencing such Award.
The Committee, in its discretion, may provide in any Award Agreement evidencing a Restricted Stock Unit Award that, if the satisfaction
of Vesting Conditions with respect to any shares subject to the Award would otherwise occur on a day on which the sale of such
shares would violate the provisions of the Trading Compliance Policy, then the satisfaction of the Vesting Conditions automatically
shall be determined on the first to occur of (a) the next trading day on which the sale of such shares would not violate the Trading
Compliance Policy or (b) the later of (i) last day of the calendar year in which the original vesting date occurred or (ii) the
last day of the Company’s taxable year in which the original vesting date occurred.

 

9.4
Voting Rights, Dividend Equivalent Rights and Distributions. Participants shall have no voting rights with respect to shares
of Stock represented by Restricted Stock Units until the date of the issuance of such shares (as evidenced by the appropriate
entry on the books of the Company or of a duly authorized transfer agent of the Company). However, the Committee, in its discretion,
may provide in the Award Agreement evidencing any Restricted Stock Unit Award that the Participant shall be entitled to Dividend
Equivalent Rights with respect to the payment of cash dividends on Stock during the period beginning on the date such Award is
granted and ending, with respect to each share subject to the Award, on the earlier of the date the Award is settled or the date
on which it is terminated. Such Dividend Equivalent Rights, if any, shall be paid by crediting the Participant with a cash amount
with additional whole Restricted Stock Units as of the date of payment of such cash dividends on Stock as determined by the Committee.
The number of additional Restricted Stock Units (rounded to the nearest whole number) to be so credited shall be determined by
dividing (a) the amount of cash dividends paid on such date with respect to the number of shares of Stock represented by the Restricted
Stock Units previously credited to the Participant by (b) the Fair Market Value per share of Stock on such date. Such additional
Restricted Stock Units shall be subject to the same terms and conditions and shall be settled in the same manner and at the same
time as the Restricted Stock Units originally subject to the Restricted Stock Unit Award. In the event of a dividend or distribution
paid in shares of Stock or other property or any other adjustment made upon a change in the capital structure of the Company as
described in Section 4.4, appropriate adjustments shall be made in the Participant’s Restricted Stock Unit Award so that
it represents the right to receive upon settlement any and all new, substituted or additional securities or other property (other
than regular, periodic cash dividends) to which the Participant would be entitled by reason of the shares of Stock issuable upon
settlement of the Award, and all such new, substituted or additional securities or other property shall be immediately subject
to the same Vesting Conditions as are applicable to the Award.

 

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9.5
Effect of Termination of Service. Unless otherwise provided by the Committee and set forth in the Award Agreement evidencing
a Restricted Stock Unit Award, if a Participant’s Service terminates for any reason, whether voluntary or involuntary (including
the Participant’s death or disability), then the Participant shall forfeit to the Company any Restricted Stock Units pursuant
to the Award which remain subject to Vesting Conditions as of the date of the Participant’s termination of Service.

 

9.6
Settlement of Restricted Stock Unit Awards. The Company shall issue to a Participant on the date on which Restricted Stock
Units subject to the Participant’s Restricted Stock Unit Award vest or on such other date determined by the Committee, in
its discretion, and set forth in the Award Agreement one (1) share of Stock (and/or any other new, substituted or additional securities
or other property pursuant to an adjustment described in Section 9.4) for each Restricted Stock Unit then becoming vested or otherwise
to be settled on such date, subject to the withholding of applicable taxes, if any. If permitted by the Committee, the Participant
may elect, consistent with the requirements of Section 409A, to defer receipt of all or any portion of the shares of Stock or
other property otherwise issuable to the Participant pursuant to this Section, and such deferred issuance date(s) and amount(s)
elected by the Participant shall be set forth in the Award Agreement. Notwithstanding the foregoing, the Committee, in its discretion,
may provide for settlement of any Restricted Stock Unit Award by payment to the Participant in cash of an amount equal to the
Fair Market Value on the payment date of the shares of Stock or other property otherwise issuable to the Participant pursuant
to this Section.

 

9.7
Nontransferability of Restricted Stock Unit Awards. The right to receive shares pursuant to a Restricted Stock Unit Award
shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or
garnishment by creditors of the Participant or the Participant’s beneficiary, except transfer by will or by the laws of
descent and distribution. All rights with respect to a Restricted Stock Unit Award granted to a Participant hereunder shall be
exercisable during his or her lifetime only by such Participant or the Participant’s guardian or legal representative.

 

10.
Performance Awards. Performance Awards shall be evidenced
by Award Agreements in such form as the Committee shall from time to time establish. Award Agreements evidencing Performance Awards
may incorporate all or any of the terms of the Plan by reference and shall comply with and be subject to the following terms and
conditions:

 

10.1
Types of Performance Awards Authorized. Performance Awards may be granted in the form of either Performance Shares or Performance
Units. Each Award Agreement evidencing a Performance Award shall specify the number of Performance Shares or Performance Units
subject thereto, the Performance Award Formula, the Performance Goal(s) and Performance Period applicable to the Award, and the
other terms, conditions and restrictions of the Award.

 

10.2
Initial Value of Performance Shares and Performance Units. Unless otherwise provided by the Committee in granting a Performance
Award, each Performance Share shall have an initial monetary value equal to the Fair Market Value of one (1) share of Stock, subject
to adjustment as provided in Section 4.4, on the effective date of grant of the Performance Share, and each Performance Unit shall
have an initial monetary value established by the Committee at the time of grant. The final value payable to the Participant in
settlement of a Performance Award determined on the basis of the applicable Performance Award Formula will depend on the extent
to which Performance Goals established by the Committee are attained within the applicable Performance Period established by the
Committee.

 

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10.3
Establishment of Performance Period, Performance Goals and Performance Award Formula. In granting each Performance Award,
the Committee shall establish in writing the applicable Performance Period, Performance Award Formula and one or more Performance
Goals which, when measured at the end of the Performance Period, shall determine on the basis of the Performance Award Formula
the final value of the Performance Award to be paid to the Participant. Unless otherwise permitted in compliance with the requirements
under Section 162(m) with respect to each Performance Award intended to result in the payment of Performance-Based Compensation,
the Committee shall establish the Performance Goal(s) and Performance Award Formula applicable to each Performance Award no later
than the earlier of (a) the date ninety (90) days after the commencement of the applicable Performance Period or (b) the date
on which 25% of the Performance Period has elapsed, and, in any event, at a time when the outcome of the Performance Goals remains
substantially uncertain. Once established, the Performance Goals and Performance Award Formula applicable to a Covered Employee
shall not be changed during the Performance Period. The Company shall notify each Participant granted a Performance Award of the
terms of such Award, including the Performance Period, Performance Goal(s) and Performance Award Formula.

 

10.4
Measurement of Performance Goals. Performance Goals shall be established by the Committee on the basis of targets to be
attained (“Performance Targets”) with respect to one or more measures of business or financial performance
(each, a “Performance Measure”), subject to the following:

 

(a)
Performance Measures. Performance Measures shall be calculated in accordance with the Company’s financial
statements, or, if such terms are not used in the Company’s financial statements, they shall be calculated in accordance
with generally accepted accounting principles, a method used generally in the Company’s industry, or in accordance with
a methodology established by the Committee prior to the grant of the Performance Award. Performance Measures shall be calculated
with respect to the Company and each Subsidiary Corporation consolidated therewith for financial reporting purposes or such division
or other business unit as may be selected by the Committee. Unless otherwise determined by the Committee prior to the grant of
the Performance Award, the Performance Measures applicable to the Performance Award shall be calculated prior to the accrual of
expense for any Performance Award for the same Performance Period and excluding the effect (whether positive or negative) on the
Performance Measures of any change in accounting standards or any extraordinary, unusual or nonrecurring item, as determined by
the Committee, occurring after the establishment of the Performance Goals applicable to the Performance Award. Each such adjustment,
if any, shall be made solely for the purpose of providing a consistent basis from period to period for the calculation of Performance
Measures in order to prevent the dilution or enlargement of the Participant’s rights with respect to a Performance Award.
Performance Measures may be one or more of the following, as determined by the Committee:

 

    	23

    	 

    

 

(i)
revenue;

 

(ii)
sales;

 

(iii)
expenses;

 

(iv)
operating income;

 

(v)
gross margin;

 

(vi)
operating margin;

 

(vii)
earnings before any one or more of: stock-based compensation expense, interest, taxes, depreciation and amortization;

 

(viii)
pre-tax profit;

 

(ix)
net operating income;

 

(x)
net income;

 

(xi)
economic value added;

 

(xii)
free cash flow;

 

(xiii)
operating cash flow;

 

(xiv)
balance of cash, cash equivalents and marketable securities;

 

(xv)
stock price;

 

(xvi)
earnings per share;

 

(xvii)
return on shareholder equity;

 

(xviii)
return on capital;

 

(xix)
return on assets;

 

(xx)
return on investment;

 

(xxi)
total shareholder return;

 

(xxii)
employee satisfaction;

 

(xxiii)
employee retention;

 

(xxiv)
market share;

 

(xxv)
customer satisfaction;

 

(xxvi)
product development;

 

(xxvii)
research and development expenses;

 

(xxviii)
completion of an identified special project; and

 

(xxix)
completion of a joint venture or other corporate transaction.

 

    	24

    	 

    

 

(b)
Performance Targets. Performance Targets may include a minimum, maximum, target level and intermediate levels of
performance, with the final value of a Performance Award determined under the applicable Performance Award Formula by the level
attained during the applicable Performance Period. A Performance Target may be stated as an absolute value, an increase or decrease
in a value, or as a value determined relative to an index, budget or other standard selected by the Committee.

 

10.5
Settlement of Performance Awards.

 

(a)
Determination of Final Value. As soon as practicable following the completion of the Performance Period applicable
to a Performance Award, the Committee shall certify in writing the extent to which the applicable Performance Goals have been
attained and the resulting final value of the Award earned by the Participant and to be paid upon its settlement in accordance
with the applicable Performance Award Formula.

 

(b)
Discretionary Adjustment of Award Formula. In its discretion, the Committee may, either at the time it grants a
Performance Award or at any time thereafter, provide for the positive or negative adjustment of the Performance Award Formula
applicable to a Performance Award granted to any Participant who is not a Covered Employee to reflect such Participant’s
individual performance in his or her position with the Company or such other factors as the Committee may determine. If permitted
under a Covered Employee’s Award Agreement, the Committee shall have the discretion, on the basis of such criteria as may
be established by the Committee, to reduce some or all of the value of the Performance Award that would otherwise be paid to the
Covered Employee upon its settlement notwithstanding the attainment of any Performance Goal and the resulting value of the Performance
Award determined in accordance with the Performance Award Formula. No such reduction may result in an increase in the amount payable
upon settlement of another Participant’s Performance Award that is intended to result in Performance-Based Compensation.

 

(c)
Effect of Leaves of Absence. Unless otherwise required by law or a Participant’s Award Agreement, payment
of the final value, if any, of a Performance Award held by a Participant who has taken in excess of thirty (30) days in unpaid
leaves of absence during a Performance Period shall be prorated on the basis of the number of days of the Participant’s
Service during the Performance Period during which the Participant was not on an unpaid leave of absence.

 

(d)
Notice to Participants. As soon as practicable following the Committee’s determination and certification in
accordance with Sections 10.5(a) and (b), the Company shall notify each Participant of the determination of the Committee.

 

    	25

    	 

    

 

(e)
Payment in Settlement of Performance Awards. As soon as practicable following the Committee’s determination
and certification in accordance with Sections 10.5(a) and (b), but in any event within the Short-Term Deferral Period described
in Section 16.1 (except as otherwise provided below or consistent with the requirements of Section 409A), payment shall be made
to each eligible Participant (or such Participant’s legal representative or other person who acquired the right to receive
such payment by reason of the Participant’s death) of the final value of the Participant’s Performance Award. Payment
of such amount shall be made in cash, shares of Stock, or a combination thereof as determined by the Committee. Unless otherwise
provided in the Award Agreement evidencing a Performance Award, payment shall be made in a lump sum. If permitted by the Committee,
the Participant may elect, consistent with the requirements of Section 409A, to defer receipt of all or any portion of the payment
to be made to the Participant pursuant to this Section, and such deferred payment date(s) elected by the Participant shall be
set forth in the Award Agreement. If any payment is to be made on a deferred basis, the Committee may, but shall not be obligated
to, provide for the payment during the deferral period of Dividend Equivalent Rights or interest.

 

(f)
Provisions Applicable to Payment in Shares. If payment is to be made in shares of Stock, the number of such shares
shall be determined by dividing the final value of the Performance Award by the Fair Market Value of a share of Stock determined
by the method specified in the Award Agreement. Shares of Stock issued in payment of any Performance Award may be fully vested
and freely transferable shares or may be shares of Stock subject to Vesting Conditions as provided in Section 8.5. Any shares
subject to Vesting Conditions shall be evidenced by an appropriate Award Agreement and shall be subject to the provisions of Sections
8.5 through 8.8 above.

 

10.6
Voting Rights; Dividend Equivalent Rights and Distributions. Participants shall have no voting rights with respect to shares
of Stock represented by Performance Share Awards until the date of the issuance of such shares, if any (as evidenced by the appropriate
entry on the books of the Company or of a duly authorized transfer agent of the Company). However, the Committee, in its discretion,
may provide in the Award Agreement evidencing any Performance Share Award that the Participant shall be entitled to Dividend Equivalent
Rights with respect to the payment of cash dividends on Stock during the period beginning on the date the Award is granted and
ending, with respect to each share subject to the Award, on the earlier of the date on which the Performance Shares are settled
or the date on which they are forfeited. Such Dividend Equivalent Rights, if any, shall be credited to the Participant either
in cash or in the form of additional whole Performance Shares as of the date of payment of such cash dividends on Stock. The number
of additional Performance Shares (rounded down to the nearest whole number); if any, as determined by the Committee to be so credited
shall be determined by dividing (a) the amount of cash dividends paid on the dividend payment date with respect to the number
of shares of Stock represented by the Performance Shares previously credited to the Participant by (b) the Fair Market Value per
share of Stock on such date. Dividend Equivalent Rights shall be accumulated and paid to the extent that Performance Shares become
nonforfeitable, as determined by the Committee. Settlement of Dividend Equivalent Rights may be made in cash, shares of Stock,
or a combination thereof as determined by the Committee, and may be paid on the same basis as settlement of the related Performance
Share as provided in Section 10.5. In the event of a dividend or distribution paid in shares of Stock or other property or any
other adjustment made upon a change in the capital structure of the Company as described in Section 4.4, appropriate adjustments
shall be made in the Participant’s Performance Share Award so that it represents the right to receive upon settlement any
and all new, substituted or additional securities or other property (other than regular, periodic cash dividends) to which the
Participant would be entitled by reason of the shares of Stock issuable upon settlement of the Performance Share Award, and all
such new, substituted or additional securities or other property shall be immediately subject to the same Performance Goals as
are applicable to the Award.

 

    	26

    	 

    

 

10.7
Effect of Termination of Service. Unless otherwise provided by the Committee and set forth in the Award Agreement evidencing
a Performance Award or in the Participant’s employment agreement, if any, referencing such Awards, the effect of a Participant’s
termination of Service on the Performance Award shall be as follows:

 

(a)
Death or Disability. If the Participant’s Service terminates because of the death or Disability of the Participant
before the completion of the Performance Period applicable to the Performance Award, the final value of the Participant’s
Performance Award shall be determined by the extent to which the applicable Performance Goals have been attained with respect
to the entire Performance Period and shall be prorated based on the number of months of the Participant’s Service during
the Performance Period. Payment shall be made following the end of the Performance Period in any manner permitted by Section 10.5.

 

(b)
Other Termination of Service. If the Participant’s Service terminates for any reason except death or Disability
before the completion of the Performance Period applicable to the Performance Award, such Award shall be forfeited in its entirety.

 

10.8
Nontransferability of Performance Awards. Prior to settlement in accordance with the provisions of the Plan, no Performance
Award shall be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or
garnishment by creditors of the Participant or the Participant’s beneficiary, except transfer by will or by the laws of
descent and distribution. All rights with respect to a Performance Award granted to a Participant hereunder shall be exercisable
during his or her lifetime only by such Participant or the Participant’s guardian or legal representative.

 

11.
Cash-Based Awards and Other Stock-Based Awards. Cash-Based
Awards and Other Stock-Based Awards shall be evidenced by Award Agreements in such form as the Committee shall from time to time
establish. Award Agreements evidencing Cash-Based Awards and Other Stock-Based Awards may incorporate all or any of the terms
of the Plan by reference and shall comply with and be subject to the following terms and conditions:

 

11.1
Grant of Cash-Based Awards. Subject to the provisions of the Plan, the Committee, at any time and from time to time, may
grant Cash-Based Awards to Participants in such amounts and upon such terms and conditions, including the achievement of performance
criteria, as the Committee may determine.

 

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11.2
Grant of Other Stock-Based Awards. The Committee may grant other types of equity-based or equity-related Awards not otherwise
described by the terms of this Plan (including the grant or offer for sale of unrestricted securities, stock-equivalent units,
stock appreciation units, securities or debentures convertible into common stock or other forms determined by the Committee) in
such amounts and subject to such terms and conditions as the Committee shall determine. Other Stock-Based Awards may be made available
as a form of payment in the settlement of other Awards or as payment in lieu of compensation to which a Participant is otherwise
entitled. Other Stock-Based Awards may involve the transfer of actual shares of Stock to Participants, or payment in cash or otherwise
of amounts based on the value of Stock and may include, without limitation, Awards designed to comply with or take advantage of
the applicable local laws of jurisdictions other than the United States.

 

11.3
Value of Cash-Based and Other Stock-Based Awards. Each Cash-Based Award shall specify a monetary payment amount or payment
range as determined by the Committee. Each Other Stock-Based Award shall be expressed in terms of shares of Stock or units based
on such shares of Stock, as determined by the Committee. The Committee may require the satisfaction of such Service requirements,
conditions, restrictions or performance criteria, including, without limitation, Performance Goals as described in Section 10.4,
as shall be established by the Committee and set forth in the Award Agreement evidencing such Award. If the Committee exercises
its discretion to establish performance criteria, the final value of Cash-Based Awards or Other Stock-Based Awards that will be
paid to the Participant will depend on the extent to which the performance criteria are met. The establishment of performance
criteria with respect to the grant or vesting of any Cash-Based Award or Other Stock-Based Award intended to result in Performance-Based
Compensation shall follow procedures substantially equivalent to those applicable to Performance Awards set forth in Section 10.

 

11.4
Payment or Settlement of Cash-Based Awards and Other Stock-Based Awards. Payment or settlement, if any, with respect to
a Cash-Based Award or an Other Stock-Based Award shall be made in accordance with the terms of the Award, in cash, shares of Stock
or other securities or any combination thereof as the Committee determines. The determination and certification of the final value
with respect to any Cash-Based Award or Other Stock-Based Award intended to result in Performance-Based Compensation shall comply
with the requirements applicable to Performance Awards set forth in Section 10. To the extent applicable, payment or settlement
with respect to each Cash-Based Award and Other Stock-Based Award shall be made in compliance with the requirements of Section
409A.

 

11.5
Voting Rights; Dividend Equivalent Rights and Distributions. Participants shall have no voting rights with respect to shares
of Stock represented by Other Stock-Based Awards until the date of the issuance of such shares of Stock (as evidenced by the appropriate
entry on the books of the Company or of a duly authorized transfer agent of the Company), if any, in settlement of such Award.
However, the Committee, in its discretion, may provide in the Award Agreement evidencing any Other Stock-Based Award that the
Participant shall be entitled to Dividend Equivalent Rights with respect to the payment of cash dividends on Stock during the
period beginning on the date such Award is granted and ending, with respect to each share subject to the Award, on the earlier
of the date the Award is settled or the date on which it is terminated. Such Dividend Equivalent Rights, if any, shall be paid
in accordance with the provisions set forth in Section 9.4. Dividend Equivalent Rights shall not be granted with respect to Cash-Based
Awards. In the event of a dividend or distribution paid in shares of Stock or other property or any other adjustment made upon
a change in the capital structure of the Company as described in Section 4.4, appropriate adjustments shall be made in the Participant’s
Other Stock-Based Award so that it represents the right to receive upon settlement any and all new, substituted or additional
securities or other property (other than regular, periodic cash dividends) to which the Participant would be entitled by reason
of the shares of Stock issuable upon settlement of such Award, and all such new, substituted or additional securities or other
property shall be immediately subject to the same Vesting Conditions and performance criteria, if any, as are applicable to the
Award.

 

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11.6
Effect of Termination of Service. Each Award Agreement evidencing a Cash-Based Award or Other Stock-Based Award shall set
forth the extent to which the Participant shall have the right to retain such Award following termination of the Participant’s
Service. Such provisions shall be determined in the discretion of the Committee, need not be uniform among all Cash-Based Awards
or Other Stock-Based Awards, and may reflect distinctions based on the reasons for termination, subject to the requirements of
Section 409A, if applicable.

 

11.7
Nontransferability of Cash-Based Awards and Other Stock-Based Awards. Prior to the payment or settlement of a Cash-Based
Award or Other Stock-Based Award, the Award shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer,
assignment, pledge, encumbrance, or garnishment by creditors of the Participant or the Participant’s beneficiary, except
transfer by will or by the laws of descent and distribution. The Committee may impose such additional restrictions on any shares
of Stock issued in settlement of Cash-Based Awards and Other Stock-Based Awards as it may deem advisable, including, without limitation,
minimum holding period requirements, restrictions under applicable federal securities laws, under the requirements of any stock
exchange or market upon which such shares of Stock are then listed and/or traded, or under any state securities laws or foreign
law applicable to such shares of Stock.

 

12.
Deferred Compensation Awards.

 

12.1
Establishment of Deferred Compensation Award Programs. This Section 12 shall not be effective unless and until the Committee
determines to establish a program pursuant to this Section. If the Committee determines that any such program may constitute an
“employee pension benefit plan” within the meaning of Section 3(2) of ERISA, the Committee shall adopt and implement
such program through a separate subplan to this Plan. Eligibility to participate in such subplan shall be limited to Directors
and a select group of management or highly compensated employees, and the Committee shall take all additional actions required
to qualify such subplan as a “top-hat” unfunded deferred compensation plan, including filing with the U.S. Department
of Labor within 120 days following the adoption of such subplan a notice pursuant to Department of Labor Regulations Section 2520.104-23.

 

12.2
Terms and Conditions of Deferred Compensation Awards. Deferred Compensation Awards shall be evidenced by Award Agreements
in such form as the Committee shall from time to time establish. Award Agreements evidencing Deferred Compensation Awards may
incorporate all or any of the terms of the Plan by reference and, except as provided below, shall comply with and be subject to
the terms and conditions applicable to the appropriate form of Award as set forth in the applicable section of this Plan.

 

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(a)
Limitation on Elections. Notwithstanding any Participant’s prior election to reduce cash compensation pursuant
to a program established in accordance with this Section 12, no Deferred Compensation Award may be granted to the Participant
after termination of the Plan or termination of the Participant’s Service, and any such cash compensation shall be paid
at the normal time and in accordance with the terms of the applicable cash compensation arrangement.

 

(b)
Election Irrevocable. A Participant’s election to reduce cash compensation pursuant to a program established
in accordance with this Section 12 shall become irrevocable on the last day of the calendar year prior to the year in which the
services are to be rendered with respect to which such cash compensation would otherwise become payable, or at the time otherwise
required by Section 409A.

 

(c)
Vesting. Deferred Compensation Awards may be fully vested at grant or may be subject to such Vesting Conditions
as the Committee determines.

 

13.
Standard Forms of Award Agreement.

 

13.1
Award Agreements. Each Award shall comply with and be subject to the terms and conditions set forth in the appropriate
form of Award Agreement approved by the Committee and as amended from time to time. No Award or purported Award shall be a valid
and binding obligation of the Company unless evidenced by a fully executed Award Agreement, which execution may be evidenced by
electronic means.

 

13.2
Authority to Vary Terms. The Committee shall have the authority from time to time to vary the terms of any standard
form of Award Agreement either in connection with the grant or amendment of an individual Award or in connection with the authorization
of a new standard form or forms; provided, however, that the terms and conditions of any such new, revised or amended standard
form or forms of Award Agreement are not inconsistent with the terms of the Plan.

 

14.
Change in Control.

 

14.1
Effect of Change in Control on Awards. Subject to the requirements and limitations of Section 409A, if applicable, the
Committee may provide for any one or more of the following:

 

(a)
Accelerated Vesting. In its discretion, the Committee may provide in the grant of any Award or at any other time
may take such action as it deems appropriate to provide for acceleration of the exercisability, vesting and/or settlement in connection
with a Change in Control of each or any outstanding Award or portion thereof and shares acquired pursuant thereto upon such conditions,
including termination of the Participant’s Service prior to, upon, or following such Change in Control, and to such extent
as the Committee shall determine.

 

    	30

    	 

    

 

(b)
Assumption, Continuation or Substitution. In the event of a Change in Control, the surviving, continuing, successor,
or purchasing corporation or other business entity or parent thereof, as the case may be (the “Acquiror”),
may, without the consent of any Participant, assume or continue the Company’s rights and obligations under each or any Award
or portion thereof outstanding immediately prior to the Change in Control or substitute for each or any such outstanding Award
or portion thereof a substantially equivalent award with respect to the Acquiror’s stock, as applicable. For purposes of
this Section, if so determined by the Committee in its discretion, an Award denominated in shares of Stock shall be deemed assumed
if, following the Change in Control, the Award confers the right to receive, subject to the terms and conditions of the Plan and
the applicable Award Agreement, for each share of Stock subject to the Award immediately prior to the Change in Control, the consideration
(whether stock, cash, other securities or property or a combination thereof) to which a holder of a share of Stock on the effective
date of the Change in Control was entitled (and if holders were offered a choice of consideration, the type of consideration chosen
by the holders of a majority of the outstanding shares of Stock); provided, however, that if such consideration is not solely
common stock of the Acquiror, the Committee may, with the consent of the Acquiror, provide for the consideration to be received
upon the exercise or settlement of the Award, for each share of Stock subject to the Award, to consist solely of common stock
of the Acquiror equal in Fair Market Value to the per share consideration received by holders of Stock pursuant to the Change
in Control. Any Award or portion thereof which is neither assumed, substituted for, or otherwise continued by the Acquiror in
connection with the Change in Control nor exercised or settled as of the time of consummation of the Change in Control shall terminate
and cease to be outstanding effective as of the time of consummation of the Change in Control.

 

(c)
Cash-Out of Outstanding Stock-Based Awards. The Committee may, in its discretion and without the consent of any
Participant, determine that, upon the occurrence of a Change in Control, each or any Award denominated in shares of Stock or portion
thereof outstanding immediately prior to the Change in Control and not previously exercised or settled shall be canceled in exchange
for a payment with respect to each vested share (and each unvested share, if so determined by the Committee) of Stock subject
to such canceled Award in (i) cash, (ii) stock of the Company or of a corporation or other business entity a party to the Change
in Control, or (iii) other property which, in any such case, shall be in an amount having a Fair Market Value equal to the Fair
Market Value of the consideration to be paid per share of Stock in the Change in Control, reduced (but not below zero) by the
exercise or purchase price per share, if any, under such Award. In the event such determination is made by the Committee, an Award
having an exercise or purchase price per share equal to or greater than the Fair Market Value of the consideration to be paid
per share of Stock in the Change in Control may be canceled without payment of consideration to the holder thereof. Payment pursuant
to this Section (reduced by applicable withholding taxes, if any) shall be made to Participants in respect of the vested portions
of their canceled Awards as soon as practicable following the date of the Change in Control and in respect of the unvested portions
of their canceled Awards in accordance with the vesting schedules applicable to such Awards.

 

14.2
Effect of Change in Control on Nonemployee Director Awards. Subject to the requirements and limitations of Section 409A,
if applicable, including as provided by Section 16.4(f), in the event of a Change in Control, each outstanding Nonemployee Director
Award shall become immediately exercisable and vested in full and, except to the extent assumed, continued or substituted for
pursuant to Section 14.1(b), shall be settled effective immediately prior to the time of consummation of the Change in Control.

 

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14.3
Federal Excise Tax Under Section 4999 of the Code.

 

(a)
Excess Parachute Payment. In the event that any acceleration of vesting pursuant to an Award and any other payment
or benefit received or to be received by a Participant would subject the Participant to any excise tax pursuant to Section 4999
of the Code due to the characterization of such acceleration of vesting, payment or benefit as an “excess parachute payment”
under Section 280G of the Code, the Participant may elect to reduce the amount of any acceleration of vesting called for under
the Award in order to avoid such characterization.

 

(b)
Determination by Independent Accountants. To aid the Participant in making any election called for under Section
14.3(a), no later than the date of the occurrence of any event that might reasonably be anticipated to result in an “excess
parachute payment” to the Participant as described in Section 14.3(a), the Company shall request a determination in writing
by independent public accountants selected by the Company (the “Accountants”). As soon as practicable
thereafter, the Accountants shall determine and report to the Company and the Participant the amount of such acceleration of vesting,
payments and benefits which would produce the greatest after-tax benefit to the Participant. For the purposes of such determination,
the Accountants may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the
Code. The Company and the Participant shall furnish to the Accountants such information and documents as the Accountants may reasonably
request in order to make their required determination. The Company shall bear all fees and expenses the Accountants charge in
connection with their services contemplated by this Section.

 

15.
Compliance with Securities Law.

 

The
grant of Awards and the issuance of shares of Stock pursuant to any Award shall be subject to compliance with all applicable requirements
of federal, state and foreign law with respect to such securities and the requirements of any stock exchange or market system
upon which the Stock may then be listed. In addition, no Award may be exercised or shares issued pursuant to an Award unless (a)
a registration statement under the Securities Act shall at the time of such exercise or issuance be in effect with respect to
the shares issuable pursuant to the Award, or (b) in the opinion of legal counsel to the Company, the shares issuable pursuant
to the Award may be issued in accordance with the terms of an applicable exemption from the registration requirements of the Securities
Act. The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the
Company’s legal counsel to be necessary to the lawful issuance and sale of any shares under the Plan shall relieve the Company
of any liability in respect of the failure to issue or sell such shares as to which such requisite authority shall not have been
obtained. As a condition to issuance of any Stock, the Company may require the Participant to satisfy any qualifications that
may be necessary or appropriate, to evidence compliance with any applicable law or regulation and to make any representation or
warranty with respect thereto as may be requested by the Company.

 

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16.
Compliance with Section 409A.

 

16.1
Awards Subject to Section 409A. The Company intends that Awards granted pursuant to the Plan shall either be exempt from
or comply with Section 409A, and the Plan shall be so construed. The provisions of this Section 16 shall apply to any Award or
portion thereof that constitutes or provides for payment of Section 409A Deferred Compensation. Such Awards may include, without
limitation:

 

(a)
A Nonstatutory Stock Option or SAR that includes any feature for the deferral of compensation other than the deferral of recognition
of income until the later of (i) the exercise or disposition of the Award or (ii) the time the stock acquired pursuant to the
exercise of the Award first becomes substantially vested.

 

(b)
Any Restricted Stock Unit Award, Performance Award, Cash-Based Award or Other Stock-Based Award that either (i) provides by its
terms for settlement of all or any portion of the Award at a time or upon an event that will or may occur later than the end of
the Short-Term Deferral Period (as defined below) or (ii) permits the Participant granted the Award to elect one or more dates
or events upon which the Award will be settled after the end of the Short-Term Deferral Period.

 

Subject
to the provisions of Section 409A, the term “Short-Term Deferral Period” means the 21⁄2 month period
ending on the later of (i) the 15th day of the third month following the end of the Participant’s taxable year in which
the right to payment under the applicable portion of the Award is no longer subject to a substantial risk of forfeiture or (ii)
the 15th day of the third month following the end of the Company’s taxable year in which the right to payment under the
applicable portion of the Award is no longer subject to a substantial risk of forfeiture. For this purpose, the term “substantial
risk of forfeiture” shall have the meaning provided by Section 409A.

 

16.2
Deferral and/or Distribution Elections. Except as otherwise permitted or required by Section 409A, the following rules
shall apply to any compensation deferral and/or payment elections (each, an “Election”) that may be
permitted or required by the Committee pursuant to an Award providing Section 409A Deferred Compensation:

 

(a)
Elections must be in writing and specify the amount of the payment in settlement of an Award being deferred, as well as the time
and form of payment as permitted by this Plan.

 

(b)
Elections shall be made by the end of the Participant’s taxable year prior to the year in which services commence for which
an Award may be granted to such Participant.

 

(c)
Elections shall continue in effect until a written revocation or change in Election is received by the Company, except that a
written revocation or change in Election must be received by the Company prior to the last day for making the Election determined
in accordance with paragraph (b) above or as permitted by Section 16.3.

 

    	33

    	 

    

 

16.3
Subsequent Elections. Except as otherwise permitted or required by Section 409A, any Award providing Section 409A
Deferred Compensation which permits a subsequent Election to delay the payment or change the form of payment in settlement of
such Award shall comply with the following requirements:

 

(a)
No subsequent Election may take effect until at least twelve (12) months after the date on which the subsequent Election is made.

 

(b)
Each subsequent Election related to a payment in settlement of an Award not described in Section 16.4(a)(ii), 16.4(a)(iii) or
16.4(a)(vi) must result in a delay of the payment for a period of not less than five (5) years from the date on which such payment
would otherwise have been made.

 

(c)
No subsequent Election related to a payment pursuant to Section 16.4(a)(iv) shall be made less than twelve (12) months before
the date on which such payment would otherwise have been made.

 

(d)
Subsequent Elections shall continue in effect until a written revocation or change in the subsequent Election is received by the
Company, except that a written revocation or change in a subsequent Election must be received by the Company prior to the last
day for making the subsequent Election determined in accordance the preceding paragraphs of this Section 16.3.

 

16.4
Payment of Section 409A Deferred Compensation.

 

(a)
Permissible Payments. Except as otherwise permitted or required by Section 409A, an Award providing Section 409A
Deferred Compensation must provide for payment in settlement of the Award only upon one or more of the following:

 

(i)
The Participant’s “separation from service” (as defined by Section 409A);

 

(ii)
The Participant’s becoming “disabled” (as defined by Section 409A);

 

(iii)
The Participant’s death;

 

(iv)
A time or fixed schedule that is either (i) specified by the Committee upon the grant of an Award and set forth in the Award Agreement
evidencing such Award or (ii) specified by the Participant in an Election complying with the requirements of Section 16.2 or 16.3,
as applicable;

 

(v)
A change in the ownership or effective control or the Company or in the ownership of a substantial portion of the assets of the
Company determined in accordance with Section 409A; or

 

(vi)
The occurrence of an “unforeseeable emergency” (as defined by Section 409A).

 

    	34

    	 

    

 

(b)
Installment Payments. It is the intent of this Plan that any right of a Participant to receive installment payments
(within the meaning of Section 409A) shall, for all purposes of Section 409A, be treated as a right to a series of separate payments.

 

(c)
Required Delay in Payment to Specified Employee Pursuant to Separation from Service. Notwithstanding any provision
of the Plan or an Award Agreement to the contrary, except as otherwise permitted by Section 409A, no payment pursuant to Section
16.4(a)(i) in settlement of an Award providing for Section 409A Deferred Compensation may be made to a Participant who is a “specified
employee” (as defined by Section 409A) as of the date of the Participant’s separation from service before the date
(the “Delayed Payment Date”) that is six (6) months after the date of such Participant’s separation
from service, or, if earlier, the date of the Participant’s death. All such amounts that would, but for this paragraph,
become payable prior to the Delayed Payment Date shall be accumulated and paid on the Delayed Payment Date.

 

(d)
Payment Upon Disability. All distributions of Section 409A Deferred Compensation payable by reason of a Participant
becoming disabled shall be paid in a lump sum or in periodic installments as established by the Participant’s Election.
If the Participant has made no Election with respect to distributions of Section 409A Deferred Compensation upon becoming disabled,
all such distributions shall be paid in a lump sum upon the determination that the Participant has become disabled.

 

(e)
Payment Upon Death. If a Participant dies before complete distribution of amounts payable upon settlement of an
Award subject to Section 409A, such undistributed amounts shall be distributed to his or her beneficiary under the distribution
method for death established by the Participant’s Election upon receipt by the Committee of satisfactory notice and confirmation
of the Participant’s death. If the Participant has made no Election with respect to distributions of Section 409A Deferred
Compensation upon death, all such distributions shall be paid in a lump sum upon receipt by the Committee of satisfactory notice
and confirmation of the Participant’s death.

 

(f)
Payment Upon Change in Control. Notwithstanding any provision of the Plan or an Award Agreement to the contrary,
to the extent that any amount constituting Section 409A Deferred Compensation would become payable under this Plan by reason of
a Change in Control, such amount shall become payable only if the event constituting a Change in Control would also constitute
a change in ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets
of the Company within the meaning of Section 409A. Any Award which constitutes Section 409A Deferred Compensation and which would
vest and otherwise become payable upon a Change in Control as a result of the failure of the Acquiror to assume, continue or substitute
for such Award in accordance with Section 14.1(b) shall vest to the extent provided by such Award but shall be converted automatically
at the effective time of such Change in Control into a right to receive, in cash on the date or dates such award would have been
settled in accordance with its then existing settlement schedule (or as required by Section 16.4(c)), an amount or amounts equal
in the aggregate to the intrinsic value of the Award at the time of the Change in Control.

 

    	35

    	 

    

 

(g)
Payment Upon Unforeseeable Emergency. The Committee shall have the authority to provide in the Award Agreement evidencing
any Award providing for Section 409A Deferred Compensation for payment in settlement of all or a portion of such Award in the
event that a Participant establishes, to the satisfaction of the Committee, the occurrence of an unforeseeable emergency. In such
event, the amount(s) distributed with respect to such unforeseeable emergency cannot exceed the amounts reasonably necessary to
satisfy the emergency need plus amounts necessary to pay taxes reasonably anticipated as a result of such distribution(s), after
taking into account the extent to which such emergency need is or may be relieved through reimbursement or compensation by insurance
or otherwise, by liquidation of the Participant’s assets (to the extent the liquidation of such assets would not itself
cause severe financial hardship) or by cessation of deferrals under the Award. All distributions with respect to an unforeseeable
emergency shall be made in a lump sum upon the Committee’s determination that an unforeseeable emergency has occurred. The
Committee’s decision with respect to whether an unforeseeable emergency has occurred and the manner in which, if at all,
the payment in settlement of an Award shall be altered or modified, shall be final, conclusive, and not subject to approval or
appeal.

 

(h)
Prohibition of Acceleration of Payments. Notwithstanding any provision of the Plan or an Award Agreement to the
contrary, this Plan does not permit the acceleration of the time or schedule of any payment under an Award providing Section 409A
Deferred Compensation, except as permitted by Section 409A.

 

(i)
No Representation Regarding Section 409A Compliance. Notwithstanding any other provision of the Plan, the Company
makes no representation that Awards shall be exempt from or comply with Section 409A. No Participating Company shall be liable
for any tax, penalty or interest imposed on a Participant by Section 409A.

 

17.
Tax Withholding.

 

17.1
Tax Withholding in General. The Company shall have the right to deduct from any and all payments made under the Plan, or
to require the Participant, through payroll withholding, cash payment or otherwise, to make adequate provision for, the federal,
state, local and foreign taxes (including social insurance), if any, required by law to be withheld by any Participating Company
with respect to an Award or the shares acquired pursuant thereto. The Company shall have no obligation to deliver shares of Stock,
to release shares of Stock from an escrow established pursuant to an Award Agreement, or to make any payment in cash under the
Plan until the Participating Company Group’s tax withholding obligations have been satisfied by the Participant.

 

17.2
Withholding in or Directed Sale of Shares. The Committee shall have the right, but not the obligation to cause the Company,
to deduct from the shares of Stock issuable to a Participant upon the exercise or settlement of an Award, or to accept from the
Participant the tender of, a number of whole shares of Stock having a Fair Market Value, as determined by the Company, equal to
all or any part of the tax withholding obligations of any Participating Company. The Fair Market Value of any shares of Stock
withheld or tendered to satisfy any such tax withholding obligations shall not exceed the amount determined by the applicable
minimum statutory withholding rates. The Company may require a Participant to direct a broker, upon the vesting, exercise or settlement
of an Award, to sell a portion of the shares subject to the Award determined by the Company in its discretion to be sufficient
to cover the tax withholding obligations of any Participating Company and to remit an amount equal to such tax withholding obligations
to such Participating Company in cash.

 

    	36

    	 

    

 

18.
Amendment, Suspension or Termination of Plan.
The Committee may amend, suspend or terminate the Plan at any time. However, without the approval of the Company’s
shareholders, there shall be (a) no increase in the maximum aggregate number of shares of Stock that may be issued under the Plan
(except by operation of the provisions of Section 4.4), (b) no change in the class of persons eligible to receive Incentive Stock
Options, and (c) no other amendment of the Plan that would require approval of the Company’s shareholders under any applicable
law, regulation or rule, including the rules of any stock exchange or quotation system upon which the Stock may then be listed
or quoted. No amendment, suspension or termination of the Plan shall affect any then outstanding Award unless expressly provided
by the Committee. Except as provided by the next sentence, no amendment, suspension or termination of the Plan may adversely affect
any then outstanding Award without the consent of the Participant. Notwithstanding any other provision of the Plan to the contrary,
the Committee may, in its sole and absolute discretion and without the consent of any Participant, amend the Plan or any Award
Agreement, to take effect retroactively or otherwise, as it deems necessary or advisable for the purpose of conforming the Plan
or such Award Agreement to any present or future law, regulation or rule applicable to the Plan, including, but not limited to,
Section 409A.

 

19.
Miscellaneous Provisions.

 

19.1
Repurchase Rights. Shares issued under the Plan may be subject to one or more repurchase options, or other conditions
and restrictions as determined by the Committee in its discretion at the time the Award is granted. The Company shall have the
right to assign at any time any repurchase right it may have, whether or not such right is then exercisable, to one or more persons
as may be selected by the Company. Upon request by the Company, each Participant shall execute any agreement evidencing such transfer
restrictions prior to the receipt of shares of Stock hereunder and shall promptly present to the Company any and all certificates
representing shares of Stock acquired hereunder for the placement on such certificates of appropriate legends evidencing any such
transfer restrictions.

 

19.2
Forfeiture Events.

 

(a)
The Committee may specify in an Award Agreement that the Participant’s rights, payments, and benefits with respect to an
Award shall be subject to reduction, cancellation, forfeiture, or recoupment upon the occurrence of specified events, in addition
to any otherwise applicable vesting or performance conditions of an Award. Such events may include, but shall not be limited to,
termination of Service for Cause or any act by a Participant, whether before or after termination of Service, that would constitute
Cause for termination of Service.

 

    	37

    	 

    

 

(b)
If the Company is required to prepare an accounting restatement due to the material noncompliance of the Company, as a result
of misconduct, with any financial reporting requirement under the securities laws, any Participant who knowingly or through gross
negligence engaged in the misconduct, or who knowingly or through gross negligence failed to prevent the misconduct, and any Participant
who is one of the individuals subject to automatic forfeiture under Section 304 of the Sarbanes-Oxley Act of 2002, shall reimburse
the Company for (i) the amount of any payment in settlement of an Award received by such Participant during the twelve- (12-)
month period following the first public issuance or filing with the United States Securities and Exchange Commission (whichever
first occurred) of the financial document embodying such financial reporting requirement, and (ii) any profits realized by such
Participant from the sale of securities of the Company during such twelve- (12-) month period.

 

19.3
Provision of Information. Each Participant shall be given access to information concerning the Company equivalent to that
information generally made available to the Company’s common shareholders.

 

19.4
Rights as Employee, Consultant or Director. No person, even though eligible pursuant to Section 5, shall have a right to
be selected as a Participant, or, having been so selected, to be selected again as a Participant. Nothing in the Plan or any Award
granted under the Plan shall confer on any Participant a right to remain an Employee, Consultant or Director or interfere with
or limit in any way any right of a Participating Company to terminate the Participant’s Service at any time. To the extent
that an Employee of a Participating Company other than the Company receives an Award under the Plan, that Award shall in no event
be understood or interpreted to mean that the Company is the Employee’s employer or that the Employee has an employment
relationship with the Company.

 

19.5
Rights as a Shareholder. A Participant shall have no rights as a shareholder with respect to any shares covered by an Award
until the date of the issuance of such shares (as evidenced by the appropriate entry on the books of the Company or of a duly
authorized transfer agent of the Company). No adjustment shall be made for dividends, distributions or other rights for which
the record date is prior to the date such shares are issued, except as provided in Section 4.4 or another provision of the Plan.

 

19.6
Delivery of Title to Shares. Subject to any governing rules or regulations, the Company shall issue or cause to be issued
the shares of Stock acquired pursuant to an Award and shall deliver such shares to or for the benefit of the Participant by means
of one or more of the following: (a) by delivering to the Participant evidence of book entry shares of Stock credited to the account
of the Participant, (b) by depositing such shares of Stock for the benefit of the Participant with any broker with which the Participant
has an account relationship, or (c) by delivering such shares of Stock to the Participant in certificate form.

 

19.7
Fractional Shares. The Company shall not be required to issue fractional shares upon the exercise or settlement of any
Award.

 

19.8
Retirement and Welfare Plans. Neither Awards made under this Plan nor shares of Stock or cash paid pursuant to such Awards
may be included as “compensation” for purposes of computing the benefits payable to any Participant under any Participating
Company’s retirement plans (both qualified and non-qualified) or welfare benefit plans unless such other plan expressly
provides that such compensation shall be taken into account in computing a Participant’s benefit.

 

    	38

    	 

    

 

19.9
Beneficiary Designation. Subject to local laws and procedures, each Participant may file with the Company a written designation
of a beneficiary who is to receive any benefit under the Plan to which the Participant is entitled in the event of such Participant’s
death before he or she receives any or all of such benefit. Each designation will revoke all prior designations by the same Participant,
shall be in a form prescribed by the Company, and will be effective only when filed by the Participant in writing with the Company
during the Participant’s lifetime. If a married Participant designates a beneficiary other than the Participant’s
spouse, the effectiveness of such designation may be subject to the consent of the Participant’s spouse. If a Participant
dies without an effective designation of a beneficiary who is living at the time of the Participant’s death, the Company
will pay any remaining unpaid benefits to the Participant’s legal representative.

 

19.10
Severability. If any one or more of the provisions (or any part thereof) of this Plan shall be held invalid, illegal or
unenforceable in any respect, such provision shall be modified so as to make it valid, legal and enforceable, and the validity,
legality and enforceability of the remaining provisions (or any part thereof) of the Plan shall not in any way be affected or
impaired thereby.

 

19.11
No Constraint on Corporate Action. Nothing in this Plan shall be construed to: (a) limit, impair, or otherwise affect the
Company’s or another Participating Company’s right or power to make adjustments, reclassifications, reorganizations,
or changes of its capital or business structure, or to merge or consolidate, or dissolve, liquidate, sell, or transfer all or
any part of its business or assets; or (b) limit the right or power of the Company or another Participating Company to take any
action which such entity deems to be necessary or appropriate.

 

19.12
Unfunded Obligation. Participants shall have the status of general unsecured creditors of the Company. Any amounts payable
to Participants pursuant to the Plan shall be considered unfunded and unsecured obligations for all purposes, including, without
limitation, Title I of the Employee Retirement Income Security Act of 1974. No Participating Company shall be required to segregate
any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations.
The Company shall retain at all times beneficial ownership of any investments, including trust investments, which the Company
may make to fulfill its payment obligations hereunder. Any investments or the creation or maintenance of any trust or any Participant
account shall not create or constitute a trust or fiduciary relationship between the Committee or any Participating Company and
a Participant, or otherwise create any vested or beneficial interest in any Participant or the Participant’s creditors in
any assets of any Participating Company. The Participants shall have no claim against any Participating Company for any changes
in the value of any assets which may be invested or reinvested by the Company with respect to the Plan.

 

19.13
Choice of Law. Except to the extent governed by applicable federal law, the validity, interpretation, construction and
performance of the Plan and each Award Agreement shall be governed by the laws of the State of Delaware, without regard to its
conflict of law rules.

 

IN
WITNESS WHEREOF, the undersigned Secretary of the Company certifies that the foregoing sets forth the Bone Biologics, Corp. 2014
Stock Plan as duly adopted by the Board on September 19, 2014.

 

	 	/s/ William
    Jay Treat, President & Chief Technology Officer
	 	Name,
    Title                

 

    	39

    	 

    

 

PLAN
HISTORY AND NOTES TO COMPANY

 

	__________,
    2014	 	Board
    adopts Plan with a reserve of __________ shares (subject to increases and other adjustments as provided by the Plan), subject
    to approval by the shareholders of the Company.
	 	 	 
	__________, 2014	 	Plan
    submitted for approval by the shareholders of the Company.
	 	 	 
	 	 	Plan
    approved by the shareholders of the Company.
	 	 	 
	 	 	Form
    S-8 registration statement covering Plan filed.
	 	 	 
	IMPORTANT NOTE:
    IRC 162(m) 5 year reapproval of performance goals	 	Because
    the Committee may change the targets under performance goals, Section 162(m) requires shareholder reapproval of the material
    terms of performance goals no later than the annual meeting in the 5th year following the year in which the public company
    shareholders initially approved such material terms. See Treas. Reg. 1.162-27(e)(4)(vi).
	 	 	 
	IMPORTANT NOTE:
    Implementation of Section 12—Deferred Compensation Awards	 	Upon
    establishment of a Deferred Compensation Award program pursuant to Section 12, determine whether such program may constitute
    an employee pension benefit plan within the meaning of ERISA Sec. 3(2), and, if so, implement such program through a subplan
    adopted by the committee, with eligibility limited to Directors and a select group of management or highly compensated employees
    in order to qualify such subplan as a “top-hat” unfunded deferred compensation plan. File notice with Dept. of
    Labor under ERISA Reg. 2520.104-23 within 120 days of adoption of such subplan in order to exempt the subplan from reporting
    and disclosure requirements of ERISA.

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