Document:

Exhibit 10.2

      AMENDED AND RESTATED

      REGISTRATION RIGHTS AGREEMENT

      

      

      dated as of

      

      

      November 10, 2022

      

      

      among

      

      

      FTAI AVIATION LTD.

      

      

      FORTRESS TRANSPORTATION AND INFRASTRUCTURE INVESTORS LLC

      

      

      and

      

      

      THE SHAREHOLDERS SET FORTH

      

      

      ON THE SIGNATURE PAGES

      

      

      HERETO

       

      

      
        
          

      

      
      TABLE OF CONTENTS

      

      

      	 	 	
              Page

            
	 	 	 
	 	
              ARTICLE I

            	 
	 	 	 
	 	
              DEFINITIONS

            	 
	 	 	 
	
              SECTION 1.1

            	
              DEFINITIONS

            	
              2

            
	
              SECTION 1.2

            	
              RULES OF CONSTRUCTION

            	
              7

            
	 	 	 
	 	
              ARTICLE II

            	 
	 	 	 
	 	
              TERMINATION

            	 
	 	 	 
	
              SECTION 2.1

            	
              TERM

            	8
	
              SECTION 2.2

            	
              SURVIVAL

            	
              8

            
	 	 	 
	 	
              ARTICLE III

            	 
	 	 	 
	 	
              REGISTRATION RIGHTS

            	 
	 	 	 
	
              SECTION 3.1

            	
              DEMAND REGISTRATION

            	
              8

            
	
              SECTION 3.2

            	
              PIGGYBACK REGISTRATION

            	
              10

            
	
              SECTION 3.3

            	
              SHELF REGISTRATION

            	
              12

            
	
              SECTION 3.4

            	
              WITHDRAWAL RIGHTS

            	
              14

            
	
              SECTION 3.5

            	
              HOLDBACK AGREEMENTS

            	
              15

            
	
              SECTION 3.6

            	
              REGISTRATION PROCEDURES

            	
              15

            
	
              SECTION 3.7

            	
              REGISTRATION EXPENSES

            	
              21

            
	
              SECTION 3.8

            	
              REGISTRATION INDEMNIFICATION

            	22
	 	 	 
	 	
              ARTICLE IV

            	 
	 	 	 
	 	
              MISCELLANEOUS

            	 
	 	 	 
	
              SECTION 4.1

            	
              NOTICES

            	
              25

            
	
              SECTION 4.2

            	
              HEADINGS

            	
              26

            
	
              SECTION 4.3

            	
              SEVERABILITY

            	
              26

            
	
              SECTION 4.4

            	
              COUNTERPARTS

            	
              26

            
	
              SECTION 4.5

            	
              ADJUSTMENTS UPON CHANGE OF CAPITALIZATION

            	26

       

      

      
        i

        
          

      

      	
              SECTION 4.6

            	
              ENTIRE AGREEMENT

            	
              26

            
	
              SECTION 4.7

            	
              FURTHER ASSURANCES

            	
              26

            
	
              SECTION 4.8

            	
              GOVERNING LAW; EQUITABLE REMEDIES

            	27
	
              SECTION 4.9

            	
              CONSENT TO JURISDICTION

            	
              27

            
	
              SECTION 4.10

            	
              AMENDMENTS; WAIVERS

            	
              27

            
	
              SECTION 4.11

            	
              ASSIGNMENT

            	
              28

            
	
              SECTION 4.12

            	
              THIRD PARTY BENEFICIARY.

            	
              28

            

      

      

      
        ii

        
          

      

      
      THIS AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of November 10, 2022, is made by and among the Initial Shareholders (as defined herein); Fortress Transportation and
        Infrastructure Investors LLC, a Delaware limited liability company (“FTAI”) and FTAI Aviation Ltd., a Cayman Islands exempted company (including its successors and assigns, the “Company”).

      

      

      WHEREAS, FTAI and the Initial Shareholders are party to that certain Registration Rights Agreement, dated as of May 20, 2015 (the “Original RRA”) pursuant to which FTAI agreed to grant the Shareholders rights to
        the registration under the Securities Act (as defined herein) of the Registrable Securities (as defined herein) acquired by the Shareholders following the consummation of the initial public offering (the “Initial Offering”) of FTAI’s common
        shares, representing limited liability company interests in the Company;

      

      

      WHEREAS, the Company and FTAI have entered into that certain Agreement and Plan of Merger, dated as of August 12, 2022 (as it may be amended or supplemented from time to time, the “Merger Agreement”), pursuant
        to which, among other things, concurrently with the entry into this Agreement, FTAI has merged with and into a subsidiary of the Company, and the Company has become a public company with its ordinary shares listed on the Nasdaq Global Select Market
        (the “Merger”);

      

      

      WHEREAS, pursuant to the Merger Agreement, the Initial Shareholders, in exchange for their existing equity in FTAI, have received ordinary shares, par value $0.01 per share, of the Company and options exercisable for
        ordinary shares of the Company;

      

      

      WHEREAS, in connection with the Merger, the Company has agreed to assume all of FTAI’s obligations under the Original RRA;

      

      

      WHEREAS, FTAI is a party to this Agreement solely for purposes of effectuating the amendment to the Original RRA and effecting the foregoing assumption;

      

      

      WHEREAS, pursuant to Section 4.10 of the Original RRA, no amendment, modification or termination of the Original RRA shall be binding upon any party unless executed in writing by such party;

      

      

      WHEREAS, all of the parties to the Original RRA desire to amend and restate the Original RRA in its entirety and enter into this Agreement, pursuant to which the Company is granting the Initial Shareholders certain
        registration rights with respect to certain securities of the Company, as set forth in this Agreement, effective as of the date hereof.

      

      

      NOW, THEREFORE, in consideration of the mutual covenants and undertakings contained herein and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
        hereby agree as follows:

       

      

      
        1

        
          

      

      ARTICLE I

       

      DEFINITIONS

       

      SECTION 1.1 DEFINITIONS.  As used in this Agreement, the following
          terms shall have the following meanings:

       

      An “AFFILIATE” of any Person means any other Person that directly or indirectly, through one or more intermediaries, Controls, is Controlled by, or is under common Control with, such first Person.  “CONTROL”
        means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of  a Person, whether through ownership of voting securities, by contract or otherwise. “CONTROLLED” and “CONTROLLING”
        have correlative meanings.

      

      

       An “AFFILIATE SHAREHOLDER” shall mean (A) any director of the Company who may be deemed an Affiliate of FIG or the Manager, (B) any director or officer of FIG or any of its Affiliates or the Manager or any of
        its Affiliates and (C) any investment funds (including any managed accounts) managed directly or indirectly by FIG, the Manager or any of their respective Affiliates.

       

      “AGREEMENT” has the meaning set forth in the recitals to this Agreement.

       

      A “BENEFICIAL OWNER” of a security is a Person who directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise has or shares: (i) voting power, which includes the power to
        vote, or to direct the voting of, such security and/or (ii) investment power, which includes the power to dispose, or to direct the disposition of, such security. The terms “BENEFICIALLY OWN” and “BENEFICIAL OWNERSHIP” shall have
        correlative meanings.

       

      “BLOCK TRADE OFFERING” means an underwritten offering demanded by one or more Demanding Shareholders that is a no-roadshow “block trade” take-down off of a Shelf Registration Statement where pricing is expected
        to occur no later than the fifth business day after such demand is made.

      

      

      “BOARD” means the board of directors of the Company or a duly authorized committee thereof.

      

      

      “CODE” shall mean the Internal Revenue Code of 1986, as amended from time to time.

      

      

      “COMPANY” has the meaning set forth in the recitals to this Agreement.

      

      

      “DEMAND” shall have the meaning set forth in Section 3.1(a).

       

      

      
        2

        
          

      

      “DEMAND REGISTRATION” shall have the meaning set forth in Section 3.1(a).

      

      

      “DEMAND SHAREHOLDER” means any Shareholder or Shareholders that collectively hold at least a Registrable Amount (based on the number of outstanding Registrable Securities held by such Shareholder or Shareholders
        on the date a Demand is made); provided that for purposes of Section 3.3, a Shareholder shall be deemed to hold at least a Registrable Amount if the Registrable Securities proposed to be registered by such Shareholder constitute “restricted
        securities” within the meaning of Rule 144 (or any successor provision) promulgated under the Securities Act.

      

      

      “EXCHANGE ACT” means the Securities Exchange Act of 1934, as amended, supplemented or restated from time to time and any successor to such statute, and the rules and regulations promulgated thereunder.

      

      

      “FIG” means Fortress Investment Group LLC, a Delaware limited liability company, or any successors and assigns.

      

      

      “FINRA” means the Financial Industry Regulatory Authority, Inc. and any successor thereto.

      

      

      “FREE WRITING PROSPECTUS” shall have the meaning set forth in Section 3.6(a)(iii).

      

      

      “FTAI” has the meaning set forth in the recitals to this Agreement.

      

      

      “GOVERNMENTAL ENTITY” means any court, administrative agency, regulatory body, commission or other governmental authority, board, bureau or instrumentality, domestic or foreign and any subdivision thereof.

      

      

      “INITIAL OFFERING” has the meaning set forth in the recitals.

      

      

      “INITIAL SHAREHOLDERS” means Fortress Worldwide Transportation and Infrastructure Master GP LLC and FIG LLC.

      

      

      “INSPECTORS” shall have the meaning set forth in Section 3.6(a)(viii).

      

      

      “ISSUER FREE WRITING PROSPECTUS” shall mean an issuer free writing prospectus, as defined in Rule 433 under the Securities Act.

      

      

      “LOSSES” shall have the meaning set forth in Section 3.8(a).

      

      

      “MANAGEMENT AGREEMENT” means the Management and Advisory Agreement, dated as of July 31, 2022, among FTAI, the Company, the subsidiaries party thereto and FIG, as amended from time to time.

       

      

      
        3

        
          

      

      “MANAGER” shall mean FIG LLC, a Delaware limited liability company, together with its permitted assignees under the Management Agreement.

      

      

      “ORDINARY SHARES” means the Ordinary Shares of the Company and any equity securities issued or issuable in exchange for or with respect to such Ordinary Shares by way of a dividend, split or combination of
        shares or in connection with a reclassification, recapitalization, merger, consolidation or other reorganization.

      

      

      “OTHER DEMANDING SELLERS” shall have meaning set forth in Section 3.2(b).

      

      

      “OTHER PROPOSED SELLERS” shall have the meaning set forth in Section 3.2(b).

       

      “PERMITTED TRANSFEREE” shall mean, with respect to each Shareholder, (i) any other Shareholder, (ii) such Shareholder’s Affiliates, (iii) in the case of any Shareholder, (A) any member or general or limited
        partner of such Shareholder (including any member of the Initial Shareholders), (B) any corporation, partnership, limited liability company or other entity that is an Affiliate of such Shareholder or any member, general or limited partner of such
        Shareholder (collectively, “Shareholder Affiliates”), (C) any investment funds managed directly or indirectly by such Shareholder or any Shareholder Affiliate (a “Shareholder Fund”), (D) any general or limited partner of any
        Shareholder Fund, (E) any managing director, general partner, director, limited partner, officer or employee of any Shareholder Affiliate, or any spouse, lineal descendant, sibling, parent, heir, executor, administrator, testamentary trustee,
        legatee or beneficiary of any of the foregoing persons described in this clause (E) (collectively, “Shareholder Associates”) or (F) any trust, the beneficiaries of which, or any corporation, limited liability company or partnership, the
        shareholders, members or general or limited partners of which, consist solely of any one or more of such Shareholder, any general or limited partner of such Shareholder, any Shareholder Affiliates, any Shareholder Fund, any Shareholder Associates,
        their spouses or their lineal descendants and (iv) any other Person that acquires Ordinary Shares from such Shareholder other than pursuant to a Public Offering and that agrees to become party to or be bound by this Agreement.

       

      “PERSON” means any individual, corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association, organization, Governmental Entity or other entity.

      

      

      “PIGGYBACK NOTICE” shall have the meaning set forth in Section 3.2(a).

      

      

      “PIGGYBACK REGISTRATION” shall have the meaning set forth in Section 3.2(a).

      

      

      “PIGGYBACK SELLER” shall have the meaning set forth in Section 3.2(a).

      

      

      “PIGGYBACK SHAREHOLDER” shall have the meaning set forth in Section 3.2(a).

       

      

      
        4

        
          

      

      “PUBLIC OFFERING” shall mean an offering of equity securities of the Company pursuant to an effective registration statement under the Securities Act, including an offering in which Shareholders are entitled to
        sell Ordinary Shares pursuant to the terms of this Agreement.

      

      

      “PROCEEDING” shall have the meaning set forth in Section 4.9.

      

      

      “RECORDS” shall have the meaning set forth in Section 3.6(a)(viii).

      

      

      “REGISTRABLE AMOUNT” shall mean an amount of Registrable Securities representing at least 1.0% of the Total Voting Power of the Company based on the aggregate amount of common shares of FTAI issued and
        outstanding immediately after the consummation of the Initial Offering.

      

      

      “REGISTRABLE SECURITIES” shall mean any Ordinary Shares currently owned or hereafter acquired by any Shareholder.  As to any particular Registrable Securities, such securities shall cease to be Registrable
        Securities when (x) a registration statement registering such securities under the Securities Act has been declared effective and such securities have been sold or otherwise transferred by the holder thereof pursuant to such effective registration
        statement, (y) such securities are sold in accordance with Rule 144 (or any successor provision) promulgated under the Securities Act and the restrictive legend and any stop transfer restrictions have been removed or (z) such securities shall have
        ceased to be outstanding.  For purposes of this Agreement, Registrable Securities shall be deemed to be in existence, whenever a Person has the right to acquire, directly or indirectly, such Registrable Securities (upon conversion or exercise in
        connection with a transfer of securities or otherwise, but disregarding any restrictions or limitations upon the exercise of such right), whether or not such acquisition has actually been effected, and such Person shall be entitled to exercise the
        rights of a Shareholder hereunder; provided that a Shareholder may only request that Registrable Securities in the form of Ordinary Shares registered or to be registered as a class under Section 12 of the Exchange Act be registered under this
        Agreement.

       

      “REQUESTED INFORMATION” shall have the meaning set forth in Section 3.8(g).

       

      “REQUESTING SHAREHOLDER” shall have the meaning set forth in Section 3.1(a).

      

      

      “RULE 144” means Rule 144 (or any successor provision) promul-gated under the Securities Act.

      

      

      “SEC” means the United States Securities and Exchange Commission or any similar agency then having jurisdiction to enforce the Securities Act.

       

      

      
        5

        
          

      

      “SECURITIES ACT” means the Securities Act of 1933, as amended, supplemented or restated from time to time and any successor to such statute, and the rules and regulations promulgated thereunder.

      

      

      “SELECTED COURTS” shall have the meaning set forth in Section 4.9.

      

      

      “SELLING SHAREHOLDER” shall have the meaning set forth in Section 3.6(a)(i).

      

      

      “SHAREHOLDER” shall mean (i) the Initial Shareholders, (ii) each Affiliate Shareholder and (iii) each Permitted Transferee who becomes a party to or bound by the provisions of this Agreement in accordance with
        the terms hereof or a Permitted Transferee thereof who is entitled to enforce the provisions of this Agreement in accordance with the terms hereof, in each case of clauses (i), (ii) and (iii) to the extent that the Initial Shareholders, Affiliate
        Shareholders and Permitted Transferees, together, hold of record or Beneficially Own at least a Registrable Amount.

      

      

      “SHELF NOTICE” shall have the meaning set forth in Section 3.3(a).

      

      

      “SHELF REGISTRATION EFFECTIVENESS PERIOD” shall have the meaning set forth in Section 3.3(c).

      

      

      “SHELF REGISTRATION STATEMENT” shall have the meaning set forth in Section 3.3(a).

      

      

      “SHELF UNDERWRITTEN OFFERING” shall have the meaning set forth in Section 3.3(e).

      

      

      “SUBSIDIARY” or “SUBSIDIARIES” means, with respect to any Person, as of any date of determination, any other Person as to which such Person owns, directly or indirectly, or otherwise controls, more than
        50% of the voting shares or other similar interests or the sole general partner interest or managing member or similar interest of such Person.

      

      

      “SUSPENSION PERIOD” shall have the meaning set forth in Section 3.3(d).

      

      

      “TOTAL VOTING POWER OF THE COMPANY” means the total number of votes that may be cast in the election of directors of the Company if all Voting Securities outstanding or treated as outstanding pursuant to the
        final two sentences of this definition were present and voted at a meeting held for such purpose.  The percentage of the Total Voting Power of the Company Beneficially Owned by any Person is the percentage of the Total Voting Power of the Company
        that is represented by the total number of votes that may be cast in the election of directors of the Company by Voting Securities Beneficially Owned by such Person. In calculating such percentage, the Voting Securities Beneficially Owned by any
        Person that are not outstanding but are subject to issuance upon exercise or exchange of rights of conversion or any options, warrants or other rights Beneficially Owned by such Person shall be deemed to be outstanding for the purpose of computing
        the percentage of the Total Voting Power of the Company represented by Voting Securities Beneficially Owned by such Person, but shall not be deemed to be outstanding for the purpose of computing the percentage of the Total Voting Power of the
        Company represented by Voting Securities Beneficially Owned by any other Person.

       

      

      
        6

        
          

      

      “UNDERWRITTEN OFFERING” shall mean a sale of securities of the Company to an underwriter or underwriters for reoffering to the public, including any bought deal, Block Trade Offering or other block sale to a
        financial institution conducted as an underwritten offering to the public.

      

      

      “VOTING SECURITIES” means Ordinary Shares any other securities of the Company entitled to vote generally in the election of directors of the Company.

      

      

      SECTION 1.2 RULES OF CONSTRUCTION.  For the purposes of this Agreement, unless the context otherwise requires:

       

      (a)          the words “he,” “his” or “himself” shall be interpreted to include the masculine, feminine and corporate, other entity or
          trust form;

       

      (b)          “or” is not exclusive;

       

      (c)          words in the singular include the plural, and in the plural include the singular;

       

      (d)          “will” shall be interpreted to express a command;

       

      (e)          the term “including” is not limiting;

       

      (f)          references to sections of or rules under the Securities Act and the Exchange Act shall be deemed to include substitute,
          replacement or successor sections or rules adopted by the SEC from time to time; and

       

      (g)          references to Articles, Sections or subdivisions refer to Articles, Sections or subdivisions of this Agreement unless otherwise
          indicated.

       

      
        7

        
          

      

      ARTICLE II

       

      TERMINATION

       

      SECTION 2.1 TERM.  This Agreement shall become effective on the date
          hereof and shall automatically terminate on the later of (i) one year from the date of this Agreement, (ii) the date that the Shareholders, in the aggregate, no longer hold Registrable Securities representing at least the Registrable Amount, or
          otherwise on the date as mutually agreed to by each of the parties hereto and (iii) the termination of the Management Agreement in accordance with its terms.

       

      SECTION 2.2 SURVIVAL.  If this Agreement is terminated pursuant to Section

            2.1, this Agreement shall become void and of no further force and effect, except for this Section 2.2 and the provisions set forth in Section 3.7, Section 3.8 and Article IV.

       

      ARTICLE III

       

      REGISTRATION RIGHTS

       

      SECTION 3.1 DEMAND REGISTRATION.

       

      (a)          At any time following the date hereof, Demand Shareholders (each, a “Requesting Shareholder”) shall be entitled to make
          a written request of the Company (a “Demand”) for registration under the Securities Act of an amount of Registrable Securities that, when taken together with the amounts of Registrable Securities requested to be registered under the
          Securities Act by all such Requesting Shareholders, equals or is greater than the Registrable Amount  (a “Demand Registration”) and thereupon the Company will, subject to the terms of this Agreement, use its reasonable best efforts to
          effect the registration as promptly as practicable under the Securities Act of:

       

      (i)             the Registrable Securities which the Company has been so requested to register by
          the Requesting Shareholders for disposition in accordance with the intended method of disposition stated in such Demand, which may be an Underwritten Offering;

       

      (ii)            all other Registrable Securities which the Company has been requested to register
          pursuant to Section 3.1(b); and

       

      (iii)           all Ordinary Shares which the Company may elect to register in connection with any
          offering of Registrable Securities pursuant to this Section 3.1, but subject to Section 3.1(f);

       

      all to the extent necessary to permit the disposition (in accordance with the intended methods thereof) of the Registrable Securities and the additional Shares, if any, to be so registered.

       

      
        8

        
          

      

      (b)          A Demand shall specify: (i) the aggregate number of Registrable Securities requested to be registered in such Demand
          Registration, (ii) the intended method of disposition in connection with such Demand Registration, to the extent then known, and (iii) the identity of the Requesting Shareholder (or Requesting Shareholders).  Within five days after receipt of a
          Demand, the Company shall give written notice of such Demand to all other Shareholders.  Subject to Section 3.1(f), the Company shall include in the Demand Registration covered by such Demand all Registrable Securities with respect to
          which the Company has received a written request for inclusion therein within ten days after the Company’s notice required by this paragraph has been given.  Such written request shall comply with the requirements of a Demand as set forth in this
          Section 3.1(b).

       

      (c)          Each Shareholder shall be entitled to an unlimited number of Demand Registrations.

       

      (d)          Demand Registrations shall be on such appropriate registration form of the SEC for which the Company is eligible, including, to
          the extent permissible, an automatically effective registration statement or an existing effective registration statement filed by the Company with the SEC, as shall be selected by the Requesting Shareholders and shall be reasonably acceptable to
          the Company.

       

      (e)          The Company shall not be obligated to (i) maintain the effectiveness of a registration statement under the Securities Act,
          filed pursuant to a Demand Registration, for a period longer than 90 days or (ii) effect any Demand Registration (A) within three months of a “firm commitment” Underwritten Offering (other than a Block Trade Offering that is not marketed) in
          which all Piggyback Shareholders (as hereinafter defined) were given “piggyback” rights pursuant to Section 3.2 (subject to Section 3.1(f)) and at least 50% of the number of Registrable Securities requested by such Piggyback
          Shareholders to be included in such Underwritten Offering were included, (B) within three months of any other Demand Registration or (C) if, in the Company’s reasonable judgment, it is not feasible for the Company to proceed with the Demand
          Registration because of the unavailability of audited or other required financial statements, provided that the Company shall use its reasonable best efforts to obtain such financial statements as promptly as practicable.  In addition, the
          Company shall be entitled to postpone (upon written notice to all Demand Shareholders) the filing or the effectiveness of a registration statement for any Demand Registration (but no more than twice, or for more than 90 days in the aggregate, in
          any period of 12 consecutive months) if the Board determines in good faith and in its reasonable judgment that the filing or effectiveness of the registration statement relating to such Demand Registration would cause the disclosure of material,
          non-public information that the Company has a bona fide business purpose for preserving as confidential.  In the event of a postponement by the Company of the filing or effectiveness of a registration statement for a Demand Registration, (i) the
          holders of a majority of Registrable Securities held by the Requesting Shareholder(s) shall have the right to withdraw such Demand in accordance with Section 3.4 and (ii) the Company shall not file or cause the effectiveness of any other
          registration statement for its own account or on behalf of other Shareholders.

       

      
        9

        
          

      

      (f)          The Company shall not include any securities other than Registrable Securities in a Demand Registration, except with the
          written consent of Shareholders participating in such Demand Registration that hold a majority of the Registrable Securities included in such Demand Registration.  If, in connection with a Demand Registration, any managing underwriter (or, if
          such Demand Registration is not an Underwritten Offering, a nationally recognized independent investment bank selected by Shareholders holding a majority of the Registrable Securities included in such Demand Registration, reasonably acceptable to
          the Company, and whose fees and expenses shall be borne solely by the Company), advises the Company, in writing, that, in its opinion, the inclusion of all of the securities, including securities of the Company that are not Registrable
          Securities, sought to be registered in connection with such Demand Registration would adversely affect the marketability of the Registrable Securities sought to be sold pursuant thereto, then the Company shall include in such registration
          statement only such securities as the Company is advised by such underwriter or investment bank can be sold without such adverse effect as follows and in the following order of priority:  (i) first, up to the number of Registrable Securities
          requested to be included in such Demand Registration by the Shareholders, which, in the opinion of the underwriter or investment bank can be sold without adversely affecting the marketability of the offering, pro rata among such Shareholders
          requesting such Demand Registration on the basis of the number of such securities requested to be included by such Shareholders and such Shareholders that are Piggyback Sellers; (ii) second, securities the Company proposes to sell; and (iii)
          third, all other securities of the Company duly requested to be included in such registration statement, pro rata on the basis of the amount of such other securities requested to be included or such other method determined by the Company.

       

      (g)          Any time that a Demand Registration involves an Underwritten Offering, the Requesting Shareholders that hold a majority of the
          Registrable Securities included in such Underwritten Offering shall select the investment banker or investment bankers and managers (which shall be reasonably acceptable to the Company) that will serve as lead and co-managing underwriters with
          respect to the offering of such Registrable Securities.

       

      SECTION 3.2 PIGGYBACK REGISTRATION.

       

      (a)          Subject to the terms and conditions hereof, whenever the Company (i) proposes to register any of its equity securities under
          the Securities Act (other than (x) a registration relating solely to an employee stock plan, a dividend reinvestment plan, or a merger or a consolidation or (y) a registration by the Company on a registration statement on Form S-4 or a
          registration statement on Form S-8 or any successor forms thereto), (ii) proposes to effect an Underwritten Offering of its own securities pursuant to an effective Shelf Registration Statement or (iii) receives a request for a Shelf Underwritten
          Offering pursuant to Section 3.3(e) (a “Piggyback Registration”), whether for its own account or for the account of others, the Company shall give each Shareholder (each, a “Piggyback Shareholder”) prompt written notice
          thereof (but not less than ten business days prior to the filing by the Company with the SEC of any registration statement with respect thereto).  Such notice (a “Piggyback
            Notice”) shall specify, at a minimum, the number of equity securities proposed to be registered, the proposed date of filing of such registration statement with the SEC, the proposed means of distribution, the proposed managing underwriter
          or underwriters (if any and if known) and a good faith estimate by the Company of the proposed minimum offering price of such equity securities.  Upon the written request of any Person that on the date of the Piggyback Notice constitutes a
          Shareholder (a “Piggyback Seller”) (which written request shall specify the number of Registrable Securities then presently intended to be disposed of by such Piggyback Seller) given within ten days after such Piggyback Notice is received
          by such Piggyback Seller, the Company, subject to the terms and conditions of this Agreement, shall use its reasonable best efforts to cause all such Registrable Securities held by Piggyback Sellers with respect to which the Company has received
          such written requests for inclusion to be included in such Piggyback Registration on the same terms and conditions as the Company’s equity securities being sold in such Piggyback Registration.

       

      
        10

        
          

      

      (b)          If, in connection with a Piggyback Registration, any managing underwriter (or, if such Piggyback Registration is not an
          Underwritten Offering, a nationally recognized independent investment bank selected by Shareholders holding a majority of the Registrable Securities included in such Piggyback Registration, reasonably acceptable to the Company, and whose fees and
          expenses shall be borne solely by the Company), advises the Company in writing that, in its opinion, the inclusion of all the equity securities sought to be included in such Piggyback Registration by (i) the Company, (ii) others who have sought
          to have equity securities of the Company registered in such Piggyback Registration pursuant to rights to demand (other than pursuant to so-called “piggyback” or other incidental or participation registration rights) such registration (such
          Persons being “Other Demanding Sellers”), (iii) the Piggyback Sellers and (iv) any other proposed sellers of equity securities of the Company (such Persons being “Other Proposed Sellers”), as the case may be, would adversely affect
          the marketability of the equity securities sought to be sold pursuant thereto, then the Company shall include in the registration statement applicable to such Piggyback Registration only such equity securities as the Company is so advised by such
          underwriter can be sold without such an effect, as follows and in the following order of priority:

       

      (i)             if the Piggyback Registration relates to an offering for the Company’s own account,
          then (A) first, such number of equity securities to be sold by the Company as the Company, in its reasonable judgment and acting in good faith and in accordance with sound financial practice, shall have determined, (B) second, Registrable
          Securities of Piggyback Sellers and securities sought to be registered by Other Demanding Sellers, pro rata on the basis of the number of Ordinary Shares proposed to be sold by such Piggyback Sellers and Other Demanding Sellers, and (C) third,
          other equity securities proposed to be sold by any Other Proposed Sellers; or

       

      (ii)            if the Piggyback Registration relates to an offering other than for the Company’s
          own account, then (A) first, such number of equity securities sought to be registered by each Other Demanding Seller and the Piggyback Sellers, pro rata in proportion to the number of securities sought to be registered by all such Other Demanding
          Sellers and Piggyback Sellers, and (B) second, other equity securities proposed to be sold by any Other Proposed Sellers or to be sold by the Company as determined by the Company.

       

      
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      (c)          In connection with any Underwritten Offering under this Section 3.2 for the Company’s account, the Company shall not be
          required to include the Registrable Securities of a Shareholder in the Underwritten Offering unless such Shareholder accepts the terms of the underwriting as agreed upon between the Company and the underwriters selected by the Company.

       

      (d)          If, at any time after giving written notice of its intention to register any of its equity securities as set forth in this Section

            3.2 and prior to the time the registration statement filed in connection with such Piggyback Registration is declared effective, the Company shall determine for any reason not to register such equity securities, the Company may, at its
          election, give written notice of such determination to each Piggyback Shareholder within five days thereof and thereupon shall be relieved of its obligation to register any Registrable Securities in connection with such particular withdrawn or
          abandoned Piggyback Registration (but not from its obligation to pay the Registration Expenses in connection therewith as provided herein); provided, that Demand Shareholders may continue the registration as a Demand Registration pursuant to the
          terms of Section 3.1.

       

      SECTION 3.3 SHELF REGISTRATION.

       

      (a)          Subject to Section 3.3(d), any of the Demand Shareholders may by written notice delivered to the Company (the “Shelf
            Notice”) require the Company to (i) file as soon as practicable (but no later than 60 days after the date the Shelf Notice is delivered), and to use reasonable best efforts to cause to be declared effective by the SEC within 90 days after
          such filing date, a registration statement on Form S-1, Form S-3 or any other appropriate form (a “Shelf Registration Statement”) or (ii) use an existing Shelf Registration Statement on Form S-3 filed with the SEC, in each case, providing
          for an offering to be made on a continuous basis pursuant to Rule 415 under the Securities Act relating to the offer and sale, from time to time, of the Registrable Securities owned by such Demand Shareholders, as the case may be, and any other
          Shareholders that at the time of the Shelf Notice meet the definition of a Demand Shareholder who elect to participate therein as provided in Section 3.3(b) in accordance with the plan and method of distribution set forth in the
          prospectus included in such Shelf Registration Statement.

       

      (b)          Within five business days after receipt of a Shelf Notice pursuant to Section 3.3(a), the Company will deliver written
          notice thereof to each Piggyback Shareholder.  Each Piggyback Shareholder may elect to participate in the Shelf Registration Statement by delivering to the Company a written request to so participate within ten days after the Shelf Notice is
          received by any such Piggyback Shareholder.

       

      
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      (c)          Subject to Section 3.3(d), the Company will use reasonable best efforts to keep the Shelf Registration Statement
          continuously effective until the earlier of (i) three years after the Shelf Registration Statement has been declared effective; and (ii) the date on which all Registrable Securities covered by the Shelf Registration Statement have been sold
          thereunder in accordance with the plan and method of distribution disclosed in the prospectus included in the Shelf Registration Statement, or otherwise (the “Shelf Registration Effectiveness Period”).

       

      (d)          Notwithstanding anything to the contrary contained in this Agreement, the Company shall be entitled, from time to time, by
          providing written notice to the Demand Shareholders who elected to participate in the Shelf Registration Statement, to require such Demand Shareholders to suspend the use of the prospectus for sales of Registrable Securities under the Shelf
          Registration Statement for a reasonable period of time not to exceed 60 days in succession or 90 days in the aggregate in any 12‐month period (a “Suspension Period”) if the Board shall determine in good faith and in its reasonable judgment
          that it is required to disclose in the Shelf Registration Statement a financing, acquisition, corporate reorganization or other similar transaction or other material event or circumstance affecting the Company or its securities, and that the
          disclosure of such information at such time would be detrimental to the Company or the holders of its equity interests.  Immediately upon receipt of such notice, the Demand Shareholders covered by the Shelf Registration Statement shall suspend
          the use of the prospectus until the requisite changes to the prospectus have been made as required below or until advised in writing by the Company that the use of the prospectus may be resumed.  Any Suspension Period shall terminate at such time
          as the public disclosure of such information is made or the Company advises the Demand Stockholders in writing that the use of the prospectus may be resumed.  After the expiration of any Suspension Period and without any further request from a
          Shareholder, if necessary, the Company shall as promptly as reasonably practicable prepare a post-effective amendment or supplement to the Shelf Registration Statement or the prospectus, or any docu-ment incorporated therein by reference, or file
          any other required document so that, as thereafter delivered to purchasers of the Registrable Securities included therein, the prospectus will not include an untrue statement of a material fact or omit to state any material fact necessary to make
          the statements therein, in the light of the circumstances under which they were made, not misleading.

       

      (e)          At any time and from time-to-time during the Shelf Registration Effectiveness Period (except during a Suspension Period), any
          of the Demand Shareholders may notify the Company of their intent to sell Registrable Securities covered by the Shelf Registration Statement (in whole or in part) in an Underwritten Offering (a “Shelf Underwritten Offering”). Such notice
          shall specify (i) the aggregate amount of Registrable Securities requested to be registered in such Shelf Underwritten Offering and (ii) the identity of such Demand Shareholder(s). Upon receipt by the Company of such notice, the Company shall
          promptly comply with the applicable provisions of this Agreement, including those provisions of Section 3.6 relating to the Company’s obligation to make filings with the SEC, assist in the preparation and filing with the SEC of prospectus
          supplements and amendments to the Shelf Registration Statement, participate in “road shows,” agree to customary “lock-up” agreements with respect to the Company’s securities and obtain “comfort” letters, and the Company shall take such other
          actions as necessary or appropriate to permit the consummation of such Shelf Underwritten Offering as promptly as practicable. Each Shelf Underwritten Offering shall be for the sale of a number of Registrable Securities equal to or greater than
          the Registrable Amount in the aggregate for all Demand Shareholders. In any Shelf Underwritten Offering, the Demand Shareholders that hold a majority of the Registrable Securities included in such Shelf Underwritten Offering shall select the
          investment banker or investment bankers and managers (which shall be reasonably acceptable to the Company) that will serve as lead and co-managing underwriters with respect to the offering of such Registrable Securities.

       

      
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      (f)          Each Initial Shareholder shall be entitled to demand such number of Shelf Registrations as shall be necessary to sell all of
          his Registrable Securities pursuant to this Section 3.3.

       

      SECTION 3.4 WITHDRAWAL RIGHTS.

       

      Any Shareholder having notified or directed the Company to include any or all of its Registrable Securities in a registration statement under the Securities Act shall, except in connection with a Block Trade Offering,
        have the right to withdraw any such notice or direction with respect to any or all of the Registrable Securities designated by it for registration by giving written notice to such effect to the Company prior to the effective date of such
        registration statement.  In the event of any such withdrawal, the Company shall not include such Registrable Securities in the applicable registration and such Registrable Securities shall continue to be Registrable Securities for all purposes of
        this Agreement.  No such withdrawal shall affect the obligations of the Company with respect to the Registrable Securities not so withdrawn; provided, however, that in the case of a Demand Registration, if such withdrawal shall reduce the number of
        Registrable Securities sought to be included in such registration below the Registrable Amount, then the Company shall as promptly as practicable give each Shareholder seeking to register Registrable Securities notice to such effect and, within ten
        days following the mailing of such notice, such Shareholders still seeking registration shall, by written notice to the Company, elect to register additional Registrable Securities, when taken together with elections to register Registrable
        Securities by each such other Shareholder seeking to register Registrable Securities, to satisfy the Registrable Amount or elect that such registration statement not be filed or, if theretofore filed, be withdrawn.  During such ten day period, the
        Company shall not file such registration statement if not theretofore filed or, if such registration statement has been theretofore filed, the Company shall not seek, and shall use commercially reasonable efforts to prevent, the effectiveness
        thereof.  Any registration statement withdrawn or not filed (a) in accordance with an election by the Company, (b) in accordance with an election by the Requesting Shareholders in the case of a Demand Registration or by the requesting Demand
        Shareholders with respect to a Shelf Registration Statement or (c) in accordance with an election by the Company subsequent to the effectiveness of the applicable Demand Registration statement because any post-effective amendment or supplement to
        the applicable Demand Registration statement contains information regarding the Company which the Company deems adverse to the Company, shall not be counted as a Demand. If a Shareholder withdraws its notification
          or direction to the Company to include Registrable Securities in a registration statement in accordance with this Section 3.4, such Shareholder shall be required to promptly reimburse the Company for all expenses incurred by the
        Company in connection with preparing for the registration of such Registrable Securities.

       

      
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      SECTION 3.5 HOLDBACK AGREEMENTS.

       

      Each Piggyback Shareholder agrees not to effect any public sale or distribution (including sales pursuant to Rule 144) of equity securities of the Company, or any securities convertible into or exchangeable or
        exercisable for such equity securities, during any time period reasonably requested by the Company (which shall not exceed 90 days) with respect to any Demand Registration, Piggyback Registration or Underwritten Offering (in each case, except as
        part of such registration), or, in each case, during any time period (which shall not exceed 180 days) required by any underwriting agreement with respect thereto.

       

      SECTION 3.6 REGISTRATION PROCEDURES.

       

      (a)          If and whenever the Company is required to use reasonable best efforts to effect the registration of any Registrable Securities
          under the Securities Act as provided in Sections 3.1, 3.2 and 3.3, the Company shall as expeditiously as reasonably possible:

       

      (i)             prepare and file with the SEC a registration statement to effect such registration
          and thereafter use reasonable best efforts to cause such registration statement to become and remain effective pursuant to the terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities which
          are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such registration statement or any amendments thereto, the Company will furnish upon
          request to the counsel selected by the Shareholders which are including Registrable Securities in such registration (“Selling Shareholders”) copies of all such documents proposed to be filed, which documents will be subject to the review
          of such counsel, and such review to be conducted with reasonable promptness;

       

      (ii)            prepare and file with the SEC such amendments (including post effective amendments),
          supplements (including prospectus supplements on a quarterly basis to update financial statements) and “stickers” to such registration statement and the prospectus  used in connection therewith and any Exchange Act reports incorporated by
          reference therein as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier
          of such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to
          Section 3.1, the expiration of 90 days after such registration statement becomes effective or (ii) in the case of a Piggyback Registration pursuant to Section 3.2, the expiration of 90 days after such registration statement becomes
          effective or (iii) in the case of a shelf registration pursuant to Section 3.3, the Shelf Registration Effectiveness Period;

       

      
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      (iii)           furnish to each Selling Shareholder and each underwriter, if any, of the securities
          being sold by such Selling Shareholder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits or documents incorporated by reference therein), such number
          of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and each free writing prospectus (as defined in Rule 405 of the Securities Act) (a “Free Writing Prospectus”)

          utilized in connection therewith and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and such other documents as such Selling Shareholder and underwriter, if any, may
          reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such Selling Shareholder;

       

      (iv)           use reasonable best efforts to register or qualify such Registrable Securities
          covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Shareholder and any underwriter of the securities being sold by such Selling Shareholder shall reasonably request, and
          take any other action which may be reasonably necessary or advisable to enable such Selling Shareholder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Shareholder, except
          that the Company shall not for any such purpose be required to (A) qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified,
          (B) subject itself to taxation in any such jurisdiction or (C) file a general consent to service of process in any such jurisdiction;

       

      (v)            use reasonable best efforts to cause such Registrable Securities to be listed on each
          securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange,
          the NASDAQ Stock Market or any other nationally recognized securities exchange;

       

      (vi)           use reasonable best efforts to cause such Registrable Securities covered by such
          registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Shareholder(s) thereof to consummate the disposition of such Registrable Securities;

       

      
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      (vii)          in connection with an Underwritten Offering, obtain for each Selling Shareholder and
          underwriter:

       

      (A)          an opinion of counsel for the Company, covering the matters customarily covered in
          opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Shareholder and underwriters, and

       

      (B)          a “comfort” letter (or, in the case of any such Person which does not satisfy the
          conditions for receipt of a “comfort” letter specified in AU Section 634 of the AICPA Professional Standards, an “agreed upon procedures” letter) signed by the independent public accountants who have certified the Company’s financial statements
          included in such registration statement (and, if necessary, any other independent public accountants of any Subsidiary of or business acquired by the Company for which financial statements and financial data are, or are required to be, included
          in the registration statement);

       

      (viii)         promptly make available for inspection by any Selling Shareholder, any underwriter
          participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such Selling Shareholder or underwriter (collectively, the “Inspectors”), all financial
          and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers,
          directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a
          misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information under this
          subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either (A) the
          Company has requested and been granted from the SEC confidential treatment of such information contained in any filing with the SEC or documents provided supplementally or otherwise or (B) the Company reasonably determines in good faith that such
          Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such Selling Shareholder requesting such information agrees, and causes each of its Inspectors, to
          enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Selling Shareholder agrees that it will, upon learning that disclosure of such Records is sought in a court of
          competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;

       

      
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      (ix)           promptly notify in writing each Selling Shareholder and the underwriters, if any, of
          the following events:

       

      (A)          the filing of the registration statement, the prospectus or any prospectus supplement
          related thereto or post-effective amendment to the registration statement or any Issuer Free Writing Prospectus utilized in connection therewith, and, with respect to the registration statement or any post-effective amendment thereto, when the
          same has become effective;

       

      (B)          any request by the SEC or any other Governmental Entity for amendments or supplements
          to the registration statement or the prospectus or for additional information;

       

      (C)          the issuance by the SEC or any other Governmental Entity of any stop order suspending
          the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose;

       

      (D)          the receipt by the Company of any notification with respect to the suspension of the
          qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose; and

       

      (E)          when any Issuer Free Writing Prospectus includes information that may conflict with
          the information contained in the registration statement;

       

      (x)             notify each Selling Shareholder, at any time when a prospectus relating thereto is
          required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material
          fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Shareholder, promptly prepare and furnish to such seller a reasonable number of
          copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit
          to state a material fact required to be stated therein or necessary to make the statements therein not misleading;

       

      
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      (xi)          use reasonable best efforts to obtain the withdrawal of any order suspending the
          effectiveness of such registration statement;

       

      (xii)          otherwise use reasonable best efforts to comply with all applicable rules and
          regulations of the SEC, and make available to Selling Shareholders, as soon as reasonably practicable, an earnings statement of the Company covering the period of at least 12 months, but not more than 18 months, beginning with the first day of
          the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;

       

      (xiii)          use its reasonable best efforts to assist Selling Shareholders who made a request to
          the Company to provide for a third party “market maker” for the Ordinary Shares; provided, however, that the Company shall not be required to serve as such “market maker”;

       

      (xiv)          cooperate with the Selling Shareholders and the managing underwriter to facilitate the
          timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and enable such
          securities to be in such denominations and registered in such names as the managing underwriter or such Selling Shareholders may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such
          registration statement a supply of such certificates as necessary or appropriate;

       

      (xv)          have appropriate officers of the Company prepare and make presentations at any “road
          shows” and before analysts and rating agencies, as the case may be, and other information meetings organized by the underwriters, take other actions to obtain ratings for any Registrable Securities (if they are eligible to be rated) and otherwise
          use its reasonable best efforts to cooperate as reasonably requested by the Selling Shareholders and the underwriters in the offering, marketing or selling of the Registrable Securities;

       

      (xvi)          have appropriate officers of the Company, and cause representatives of the Company’s
          independent public accountants, to participate in any due diligence discussions reasonably requested by any Selling Shareholder or any underwriter;

       

      (xvii)           if requested by any underwriter, agree, and cause the Company and any directors or
          officers of the Company to agree, to be bound by customary “lock-up” agreements restricting the ability to dispose of the Company’s securities;

       

      
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      (xviii)       if requested by any Selling Shareholders or any underwriter, promptly incorporate in
          the registration statement or any prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Shareholders may reasonably request to have included therein, including information relating to the
          “Plan of Distribution” of the Registrable Securities;

       

      (xix)          cooperate and assist in any filings required to be made with FINRA and in the
          performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the rules and regulations of FINRA;

       

      (xx)           otherwise use reasonable best efforts to cooperate as reasonably requested by the
          Selling Shareholders and the underwriters in the offering, marketing or selling of the Registrable Securities;

       

      (xxi)          otherwise use commercially reasonable efforts to comply with all applicable rules and
          regulations of the SEC and all reporting requirements under the rules and regulations of the Exchange Act; and

       

      (xxii)        use reasonable best efforts to take any action requested by the Selling Shareholders,
          including any action described in clauses (i) through (xxi) above to prepare for and facilitate any “over-night deal” or other proposed sale of Registrable Securities over a limited timeframe.

       

      The Company may require each Selling Shareholder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling
        Shareholder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement.

       

      (b)          Underwriting.  Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by
          or through an underwriter, the Company, if requested by the underwriter, shall enter into an underwriting agreement with a managing underwriter or underwriters in connection with such offering containing representations, warranties, indemnities
          and agreements customarily included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or
          on behalf of, such issuers.

       

      
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      (c)          Each Selling Shareholder agrees that upon receipt of any notice from the Company of the happening of any event of the kind
          described in Section 3.6(a)(ix), such Selling Shareholder shall forthwith discontinue such Selling Shareholder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until
          such Selling Shareholder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than
          permanent file copies, then in such Selling Shareholder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities.  In the event the Company shall give such notice, any applicable period
          during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section

            3.6(a)(ix) to the date when all such Selling Shareholders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the SEC.

       

      SECTION 3.7 REGISTRATION EXPENSES.

       

      All expenses incident to the Company’s performance of, or compliance with, its obligations under this Agreement including all registration and filing fees, all fees and expenses of compliance with securities and “blue
        sky” laws, all fees and expenses associated with filings required to be made with FINRA (including, if applicable, the fees and expenses of any “qualified independent underwriter” as such term is defined in FINRA Rule 5121(f)(12)), all fees and
        expenses of compliance with securities and “blue sky” laws, all printing (including, without limitation, expenses of printing certificates for the Registrable Securities in a form eligible for deposit with The Depository Trust Company and of
        printing prospectuses and Issuer Free Writing Prospectuses if the printing of such prospectuses is requested by a holder of Registrable Securities) and copying expenses, all messenger and delivery expenses, all fees and expenses of the Company’s
        independent certified public accountants (including, without limitation, with respect to “comfort” letters) and counsel (including, without limitation, with respect to opinions) and fees and expenses of one firm of counsel to the Shareholders
        selling in such registration (which firm shall be selected by the Shareholders selling in such registration that hold a majority of the Registrable Securities included in such registration) (collectively, the “Registration Expenses”) shall
        be borne by the Company, regardless of whether a registration is effected.  The Company will pay its internal expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties,
        the expense of any annual audit and the expense of any liability insurance) and the expenses and fees for listing the securities to be registered on each securities exchange and included in each established over-the-counter market on which similar
        securities issued by the Company are then listed or traded.  Each Selling Shareholder shall pay its portion of all underwriting discounts and commissions and transfer taxes, if any, relating to the sale of such Selling Shareholder’s Registrable
        Securities pursuant to any registration.

       

      
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      SECTION 3.8 REGISTRATION INDEMNIFICATION.

       

      (a)          By the Company.  The Company agrees to indemnify and hold harmless, to the fullest extent permitted by law, each Selling
          Shareholder and its Affiliates and their respective officers, directors, employees, managers, partners and agents and each Person who controls (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act) such
          Selling Shareholder or such other indemnified Person from and against all losses, claims, damages, liabilities and expenses (including reasonable expenses of investigation and reasonable attorneys’ fees and expenses) (collectively, “Losses”)

          caused by, resulting from or relating to any untrue statement (or alleged untrue statement) of a material fact contained in any registration statement, prospectus or preliminary prospectus or any Issuer Free Writing Prospectus or any amendment or
          supplement thereto or any omission (or alleged omission) of a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, except insofar as the
          same are caused by any information furnished in writing to the Company by such Selling Shareholder expressly for use therein.  In connection with an Underwritten Offering and without limiting any of the Company’s other obligations under this
          Agreement, the Company shall also indemnify such underwriters, their officers, directors, employees and agents and each Person who controls (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act) such
          underwriters or such other indemnified Person to the same extent as provided above with respect to the indemnification (and exceptions thereto) of Selling Shareholders.  Reimbursements payable pursuant to the indemnification contemplated by this
          Section 3.8(a) will be made by periodic payments during the course of any investigation or defense, as and when bills are received or expenses incurred.

       

      (b)          By the Selling Shareholders.  In connection with any registration statement in which a Shareholder is participating,
          each such Selling Shareholder will furnish to the Company in writing information regarding such Selling Shareholder’s ownership of Registrable Securities and its intended method of distribution thereof and, to the extent permitted by law, shall,
          severally and not jointly, indemnify the Company, its Affiliates and their respective directors, officers, employees and agents and each Person who controls (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange
          Act) the Company or such other indemnified Person against all Losses caused by any untrue statement of material fact contained in the registration statement, prospectus or preliminary prospectus or any Issuer Free Writing Prospectus or any
          amendment or supplement thereto or any omission of a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, but only to the extent that
          such untrue statement or omission is caused by and contained in such information so furnished in writing by such Selling Shareholder expressly for use therein; provided, however, that each Selling Shareholder’s obligation to indemnify the Company
          hereunder shall, to the extent more than one Selling Shareholder is subject to the same indemnifica-tion obligation, be apportioned between each Selling Shareholder based upon the net amount received by each Selling Shareholder from the sale of
          Registrable Securities, as compared to the total net amount received by all of the Selling Shareholders of Registrable Securities sold pursuant to such registration statement.  Notwith-standing the foregoing, no Selling Shareholder shall be
          liable to the Company for amounts in excess of the lesser of (i) such apportionment and (ii) the amount received by such holder in the offering giving rise to such liability.

       

      
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      (c)          Notice. Any Person entitled to indemnification hereunder shall give prompt written notice to the indemnifying party of
          any claim with respect to which it seeks indemnification; provided, however, the failure to give such notice shall not release the indemnifying party from its obligation, except to the extent that the indemnifying party has been
          materially prejudiced by such failure to provide such notice on a timely basis.

       

      (d)          Defense of Actions. In any case in which any such action is brought against any indemnified party, and it notifies an
          indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein, and, to the extent that it may wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with
          counsel reasonably satisfactory to such indemnified party, and after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying party will not (so long as it shall continue to
          have the right to defend, contest, litigate and settle the matter in question in accordance with this paragraph) be liable to such indemnified party hereunder for any legal or other expense subsequently incurred by such indemnified party in
          connection with the defense thereof other than reasonable costs of investigation, supervision and monitoring (unless (i) such indemnified party reasonably objects to such assumption on the grounds that there may be defenses available to it which
          are different from or in addition to the defenses available to such indemnifying party or (ii) the indemnifying party shall have failed within a reasonable period of time to assume such defense and the indemnified party is or is reasonably likely
          to be prejudiced by such delay, in either event the indemnified party shall be promptly reimbursed by the indemnifying party for the expenses incurred in connection with retaining separate legal counsel).  An indemnifying party shall not be
          liable for any settlement of an action or claim effected without its consent (such consent not to be unreasonably withheld).  The indemnifying party shall lose its right to defend, contest, litigate and settle a matter if it shall fail to
          diligently contest such matter (except to the extent settled in accordance with the next following sentence).  No matter shall be settled by an indemnifying party without the consent of the indemnified party (which consent shall not be
          unreasonably withheld, it being understood that the indemnified party shall not be deemed to be unreasonable in withholding its consent if the proposed settlement imposes any obligation on the indemnified party).

       

      (e)          Survival. The indemnification provided for under this Agreement shall remain in full force and effect regardless of any
          investigation made by or on behalf of the indemnified Person and will survive the transfer of the Registrable Securities and the termination of this Agreement.

       

      
        23

        
          

      

      (f)          Contribution.  If recovery is not available under the foregoing indemnification provisions for any reason or reasons
          other than as specified therein, any Person who would otherwise be entitled to indemnification by the terms thereof shall nevertheless be entitled to contribution with respect to any Losses with respect to which such Person would be entitled to
          such indemnification but for such reason or reasons.  In determining the amount of contribution to which the respective Persons are entitled, there shall be considered the Persons’ relative knowledge and access to information concerning the
          matter with respect to which the claim was asserted, the opportunity to correct and prevent any statement or omission, and other equitable considerations appropriate under the circumstances.  It is hereby agreed that it would not necessarily be
          equitable if the amount of such contribution were determined by pro rata or per capita allocation.  No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution
          from any Person who was not found guilty of such fraudulent misrepresentation.  Notwithstanding the foregoing, no Selling Shareholder or transferee thereof shall be required to make a contribution in excess of the net amount received by such
          holder from its sale of Registrable Securities in connection with the offering that gave rise to the contribution obliga-tion.

       

      (g)          Request for Information.  Not less than ten days before the expected filing date of each registration statement pursuant
          to this Agreement, the Company shall notify each Shareholder who has timely provided the requisite notice hereunder entitling the Shareholder to register Registrable Securities in such registration statement of the information, documents and
          instruments from such Shareholder that the Company or any underwriter reasonably requests in connection with such registration statement, including, but not limited to a questionnaire, custody agreement, power of attorney, lock-up letter and
          underwriting agreement (the “Requested Information”).  If the Company has not received, on or before the second day before the expected filing date, the Requested Information from such Shareholder, the Company may file the registration
          statement without including Registrable Securities of such Shareholder.  The failure to so include in any registration statement the Registrable Securities of a Shareholder (with regard to that registration statement) shall not in and of itself
          result in any liability on the part of the Company to such Shareholder.

       

      (h)          No Grant of Future Registration Rights.  The Company shall not grant any shelf, demand, piggyback or incidental
          registration rights that are senior to the rights granted to the Shareholders hereunder to any other Person without the prior written consent of Piggyback Shareholders holding a majority of the Registrable Securities held by all Piggyback
          Shareholders.

       

      
        24

        
          

      

      ARTICLE IV

       

      MISCELLANEOUS

       

      SECTION 4.1 NOTICES.  All notices, requests, consents and other
          communications hereunder to any party shall be deemed to be sufficient if contained in a written instrument delivered in person or sent by facsimile or other electronic transmission (provided a copy is thereafter promptly delivered as provided in
          this Section 4.1) or nationally recognized overnight courier, addressed to such party at the address or facsimile number set forth below or such other address, email address or facsimile number as may hereafter be designated in writing by
          such party to the other parties:

       

      (a)          if to the Company, to:

       

      FTAI Aviation Ltd.

      1345 Avenue of the Americas, 45th Floor

      New York, NY 10105

      (T) (212) 798-6100

      Attention: Kevin P. Kreiger, Secretary

       

      

      with a copy to:

      

      

      Skadden, Arps, Slate, Meagher & Flom LLP

      One Manhattan West

      New York, New York 10001

      (T) (212) 735-3000

      (F) (212) 735-2000

      Attention: Joseph A. Coco, Esq., Michael J. Schwartz, Esq., Blair T. Thetford, Esq.

      

      

      (b)          if to FTAI, to:

       

      Fortress Transportation and Infrastructure Investors LLC

      1345 Avenue of the Americas, 45th Floor

      New York, NY 10105

      (T) (212) 798-6100

      Attention: Kevin P. Kreiger, Secretary

       

      

      with a copy to:

       

      

      Skadden, Arps, Slate, Meagher & Flom LLP

      One Manhattan West

      New York, New York 10001

      (T) (212) 735-3000

      (F) (212) 735-2000

      Attention: Joseph A. Coco, Esq., Michael J. Schwartz, Esq., Blair T. Thetford, Esq.

       

      (c)          if to any of the Shareholders, to:

       

      the address and facsimile number set forth in the records of the Company.

       

      

      
        25

        
          

      

      Any requirement to provide notice to Shareholders under this Agreement shall exclude any Shareholders that have not executed a joinder to this Agreement.

      

      

      SECTION 4.2 HEADINGS.  The headings contained in this Agreement are
          for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

       

      SECTION 4.3 SEVERABILITY.  The provisions of this Agree-ment shall
          be deemed severable and the invalidity or unenforceability of any provi-sion shall not affect the validity or enforceability of the other provisions hereof. If any provision of this Agreement, or the application thereof to any person or entity or
          any circumstance, is found to be invalid or unenforceable in any jurisdiction, (a) a suitable and equitable provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of such
          invalid or unenforceable provision and (b) the remainder of this Agreement and the application of such provision to other Persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or
          unenforceability affect the validity or enforceability of such provision, or the application thereof, in any other jurisdiction.

       

      SECTION 4.4 COUNTERPARTS.  This Agreement may be executed in one or
          more counterparts, each of which shall be deemed an original and all of which shall, taken together, be considered one and the same agreement, it being understood that all parties need not sign the same counterpart.

       

      SECTION 4.5 ADJUSTMENTS UPON CHANGE OF CAPITALIZATION.  In the event
          of any change in the outstanding Ordinary Shares by reason of dividends, splits, reverse splits, spin-offs, split-ups, recapitalizations, combinations, exchanges of shares and the like, the term “Ordinary Shares” shall refer to and include
          the securities received or resulting therefrom, but only to the extent such securities are received in exchange for or in respect of Ordinary Shares.

       

      SECTION 4.6 ENTIRE AGREEMENT.  This Agreement (a) constitutes the
          entire agreement and supersedes all other prior agreements, both written and oral, among the parties with respect to the subject matter hereof.

       

      SECTION 4.7 FURTHER ASSURANCES.  Each party shall execute, deliver,
          acknowledge and file such other documents and take such further actions as may be reasonably requested from time to time by the other party hereto to give effect to and carry out the transactions contemplated herein.

       

      
        26

        
          

      

      SECTION 4.8 GOVERNING LAW; EQUITABLE REMEDIES.  THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO CONFLICT OF LAWS PRINCIPLES THEREOF).  The parties hereto agree that
          irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with its specific terms or was otherwise breached.  It is accordingly agreed that the parties hereto shall be entitled to an
          injunction or injunctions and other equitable remedies to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof in any of the Selected Courts (as defined below), this being in addition to any other remedy
          to which they are entitled at law or in equity.  Any requirements for the securing or posting of any bond with respect to such remedy are hereby waived by each of the parties hereto.  Each party further agrees that, in the event of any action for
          an injunction or other equitable remedy in respect of such breach or enforcement of specific performance, it will not assert the defense that a remedy at law would be adequate.

       

      SECTION 4.9 CONSENT TO JURISDICTION.  With respect to any suit,
          action or proceeding (“Proceeding”) arising out of or relating to this Agreement or any transaction contemplated hereby each of the parties hereto hereby irrevocably (i) submits to the exclusive jurisdiction of the United States District
          Court for the Southern District of New York (the “Selected Court”) and waives any objection to venue being laid in the Selected Court whether based on the grounds of forum non conveniens or otherwise and hereby agrees not to commence any
          such Proceeding other than before the Selected Court; provided, however, that a party may commence any Proceeding in a court other than the Selected Court solely for the purpose of enforcing an order or judgment issued by the
          Selected Court; (ii) consents to service of process in any Proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, or by recognized international express carrier or delivery service, to the Company or the
          Initial Shareholders at their respective addresses referred to in Section 4.1 hereof; provided, however, that nothing herein shall affect the right of any party hereto to serve process in any other manner permitted by law;
          and (iii) TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, WAIVES, AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY
            ACTION ARISING IN WHOLE OR IN PART UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE CONTEMPLATED TRANSACTIONS, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AND AGREES THAT ANY OF THEM
            MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY AND BARGAINED-FOR AGREEMENT AMONG THE PARTIES IRREVOCABLY TO WAIVE ITS RIGHT TO TRIAL BY JURY IN ANY PROCEEDING WHATSOEVER BETWEEN THEM RELATING TO
            THIS AGREEMENT OR ANY OF THE CONTEMPLATED TRANSACTIONS WILL INSTEAD BE TRIED IN A COURT OF COMPETENT JURISDICTION BY A JUDGE SITTING WITHOUT A JURY.

       

      SECTION 4.10          AMENDMENTS; WAIVERS.

       

      (a)                 No provision of this Agreement may be amended or waived unless such amendment or waiver is in writing and signed, in
          the case of an amendment, by the parties hereto, or in the case of a waiver, by the party against whom the waiver is to be effective.

       

      
        27

        
          

      

      
      (b)                 No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as waiver thereof
          nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege.  The rights and remedies herein provided shall be cumulative and not exclusive of any rights
          or remedies provided by law.

       

      SECTION 4.11           ASSIGNMENT.  Neither this Agreement nor any
          of the rights or obligations hereunder shall be assigned or transferred by any of the parties hereto without the prior written consent of the other parties hereto, except that each of the Initial Shareholders may assign or transfer without such
          consent to its Permitted Transferees (provided, that any such Permitted Transferee is a Shareholder hereunder or, in connection with any such assignment or transfer, such Permitted Transferee executes a joinder to this Agreement, in form
          and substance reasonably acceptable to the Company, pursuant to which such Permitted Transferee agrees to be a “Shareholder” for all purposes of this Agreement) or to any other Shareholder (including any Affiliate Shareholder).  Subject to the
          preceding sentence, this Agreement will be binding upon, inure to the benefit of and be enforceable by the parties and their respective executors, estates, heirs, successors and assigns.  For the avoidance of doubt, the Affiliate Shareholders
          shall be deemed to be Shareholders without any further action.

       

      SECTION 4.12          THIRD PARTY BENEFICIARY.  Each of the Affiliate Shareholders shall be a third party beneficiary to the agreements made
          hereunder between the Company and the Initial Shareholders and shall have the right to enforce such agreements directly to the extent it deems such enforcement necessary or advisable to protect its rights hereunder.

      

      

      (Remainder of page intentionally left blank)

       

      

      
        28

        
          

      

      
        IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered, all as of the date first set forth above.

        

        

        	 	
                COMPANY:

              
	 	 	 	 
	 	
                By:

              	
                 /s/ Joseph P. Adams, Jr.

              	 

        	 	 	
                Name:

              	
                Joseph P. Adams, Jr

              
	 	 	
                Title:

              	
                Chief Executive Officer

              

        

        

        	 	
                FORTRESS TRANSPORTATION AND INFRASTRUCTURE INVESTORS LLC:

              
	 	 	 	 
	 	
                By:

              	
                 /s/ Angela Nam

              	 

        	 	 	
                Name:

              	
                Angela Nam

              
	 	 	
                Title:

              	
                Chief Financial Officer

              

        

        

        	 	
                INITIAL SHAREHOLDERS:

              
	 	 	 	 
	 	
                FIG LLC

              
	 	 	 	 
	 	
                By:

              	
                /s/ Daniel Bass

              	 

        	 	 	
                Name: 

                

              	Daniel Bass
	 	 	
                Title:

              	
                Chief Financial Officer

              

        

        

        	 	
                FORTRESS TRANSPORTATION AND INFRASTRUCTURE MASTER GP LLC

              
	 	 
	 	
                By:

              	
                /s/ Demetrios Tserpelis

              	 

        	 	 	
                Name:

              	
                Demetrios Tserpelis

              
	 	 	
                Title:

              	
                Authorize Signatory

              

        

        

        
          [Signature Page to A&R Registration Rights Agreement]Exhibit
10.1

 

QUALIGEN
THERAPEUTICS, INC.

 

2022
EMPLOYEE STOCK PURCHASE PLAN

 

As
adopted by the Board of Directors on July 8, 2022

As
approved by the Stockholders on August 25, 2022

 

ARTICLE
1

 

PURPOSE;
TERM

 

1.1
Purpose. The purposes of the Plan are to (a) enhance the Company’s ability to attract and retain the services of Eligible Employees
upon whose judgment, initiative and efforts the successful conduct and development of the Company’s business largely depends, and
(b) provide additional incentives to Eligible Employees to devote their effort and skill to the advancement of the Company, by providing
them an opportunity to participate in the ownership of the Company and thereby have an interest in the success and increased value of
the Company. This Plan is intended to qualify as an “employee stock purchase plan” within the meaning of Section 423(b) of
the Code.

 

1.2
Term. Unless earlier terminated as provided herein, the Plan will be effective on the Effective Date and will terminate 10 years
from the date the Plan is adopted by the Board.

 

ARTICLE
2

 

DEFINITIONS
AND CONSTRUCTION

 

For
purposes of the Plan, terms not otherwise defined herein shall have the meanings indicated below:

 

2.1
“Administrator” means the Board or, if the Board delegates responsibility for any matter to the Committee or to
a third party administrator, the term Administrator shall mean the Committee or such third party administrator.

 

2.2
“Agent” means the brokerage firm, bank or other financial institution, entity or person(s), if any, engaged, retained,
appointed or authorized to act as the agent of the Company or an Employee with regard to the Plan.

 

2.3
“Board” means the Board of Directors of the Company.

 

2.4
“Change in Control” means:

 

(a)
The acquisition, directly or indirectly, in one transaction or a series of related transactions, by any person or group (within the meaning
of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended) of the beneficial ownership of securities of the Company possessing
more than 50% of the total combined voting power of all outstanding securities of the Company; provided, however, that
a Change in Control shall not result upon such acquisition of beneficial ownership if such acquisition occurs as a result of a public
offering of the Company’s securities or any financing transaction (or series of financing transactions);

 

(b)
A merger or consolidation in which the Company is not the surviving entity, except for a transaction in which the holders of the outstanding
voting securities of the Company immediately before such merger or consolidation hold, as a result of holding Company securities before
such transaction, in the aggregate, securities possessing more than 50% of the total combined voting power of all outstanding voting
securities of the surviving entity (or the parent of the surviving entity) immediately after such merger or consolidation;

 

(c)
A reverse merger in which the Company is the surviving entity, but in which the holders of the outstanding voting securities of the Company
immediately before such merger hold, in the aggregate, securities possessing less than 50% of the total combined voting power of all
outstanding voting securities of the Company or of the acquiring entity immediately after such merger; or

 

    	 

    	 

    

 

(d)
The sale, transfer or other disposition (in one transaction or a series of related transactions) of all or substantially all of the assets
of the Company, except for a transaction in which the holders of the outstanding voting securities of the Company immediately before
such transaction(s) receive as a distribution with respect to securities of the Company, in the aggregate, securities possessing more
than 50% of the total combined voting power of all outstanding voting securities of the acquiring entity immediately after such transaction(s).

 

The
Administrator shall have full and final authority to determine conclusively whether a Change in Control of the Company has occurred in
respect of a particular set of circumstances, and the date of the occurrence of such Change in Control and any incidental matters relating
thereto.

 

2.5
“Common Stock” means the Common Stock, par value $0.001 per share, of the Company and such other securities of
the Company that may be substituted for Common Stock pursuant to Article 8.

 

2.6
“Code” means the Internal Revenue Code of 1986, as amended from time to time, together with the Treasury Regulations
and official guidance promulgated thereunder.

 

2.7
“Committee” means a committee of two or more members of the Board appointed to administer the Plan as set forth
in Section 11.1.

 

2.8
“Company” means Qualigen Therapeutics, Inc., a Delaware corporation.

 

2.9
“Compensation” of an Eligible Employee means the base compensation received by such Eligible Employee as compensation
for services to the Company or any Related Corporation during the relevant period, excluding incentive or performance-based compensation
(whether issued in the form of cash or equity), bonuses, overtime payments, sales commissions, travel and business expense reimbursements,
fringe benefits, perquisites and other similar payments. Such Compensation shall be calculated before deduction of any income or employment
tax withholdings, but shall be withheld from the Eligible Employee’s net income.

 

2.10
“Effective Date” means the date the stockholders of the Company approve the Plan pursuant to Article 10.

 

2.11
“Eligible Employee” means an Employee of the Company or any Related Corporation who would not, immediately after
any rights under the Plan are granted, own (directly or through attribution) or be deemed to own for purposes of Section 423(b)(3) of
the Code five percent (5%) or more of the total combined voting power or value of all classes of capital stock of the Company or any
Related Corporation. For purposes of the preceding sentence, the rules of Section 424(d) of the Code with regard to the attribution of
stock ownership shall apply in determining the stock ownership of an individual, and stock that an Employee may purchase under outstanding
options shall be treated as stock owned by the Employee. Notwithstanding the foregoing, the Administrator may, in its sole discretion,
determine that an Employee of the Company or any Related Corporation shall not be eligible to participate in an Offering Period if: (i)
the Employee’s customary employment is for not more than 20 hours per week; (ii) the Employee’s customary employment is for
not more than five months in any calendar year; (iii) such Employee is a highly compensated employee within the meaning of Section 423(b)(4)(D)
of the Code or is a “highly compensated employee” (A) with compensation above a specified level, (B) who is an officer of
the Company or any Related Corporation thereof or (C) who is subject to the disclosure requirements of Section 16(a) of the Exchange
Act; (iv) such Employee has not met a service requirement designated by the Administrator pursuant to Section 423(b)(4)(A) of the Code
(which service requirement may not exceed two years); or (v) such Employee is a citizen or resident of a foreign jurisdiction and the
grant of a right to purchase stock under the Plan to such Employee would be prohibited under the laws of such foreign jurisdiction or
the grant of a right to purchase stock under the Plan to such Employee in compliance with the laws of such foreign jurisdiction would
cause the Plan to violate the requirements of Section 423 of the Code, as determined by the Administrator in its sole discretion; provided
that any exclusion in the foregoing clauses shall be applied in an identical manner under each Offering Period to all employees of
the Company or any Related Corporation, in accordance with Treasury Regulations Section 1.423-2(e). If a person (although previously
an Employee) has for an entire three months period not been an Employee, any status of such person as an Eligible Employee shall automatically
cease at such three-months mark.

 

2.12
“Employee” means any person who renders services to the Company or any Related Corporation as an employee within
the meaning of Section 3401(c) of the Code. “Employee” shall not include any director of the Company or any Related Corporation
who does not render services to the Company or any Related Corporation as an employee within the meaning of Section 3401(c) of the Code.
For purposes of the Plan, the employment relationship shall be treated as continuing intact while the individual is on military leave,
sick leave or other leave of absence approved by the Company and meeting the requirements of Treasury Regulations Section 1.421-1(h)(2).
Where the period of leave exceeds three months or such other period specified in Treasury Regulations Section 1.421-1(h)(2), and the
individual’s right to reemployment is not guaranteed either by statute or by contract, the employment relationship shall be deemed
to have terminated on the first day immediately following such three-month period or such other period specified in Treasury Regulations
Section 1.421-1(h)(2).

 

    	 

    	 

    

 

2.13
“Enrollment Date” means the first Trading Day of each Offering Period.

 

2.14
“Exchange Act” means the United States Securities Exchange Act of 1934, as amended from time to time.

 

2.15
“Fair Market Value” on any given date means the value of one share of Common Stock, determined as follows:

 

(a)
If the Common Stock is then listed or admitted for trading on a national securities exchange which reports closing sale prices, the Fair
Market Value shall be the closing sale price on the date of valuation on the principal securities exchange on which the Common Stock
is then listed or admitted for trading as reported in the Wall Street Journal or such other source as the Committee deems reliable, or,
if no closing sale price is quoted on such day, the determination shall be made by reference to the last date preceding such date for
which there is a closing price.

 

(b)
If the Common Stock is not then listed or admitted for trading on national securities exchange which reports closing sale prices, the
Fair Market Value shall be the average of the closing bid and asked prices of the Common Stock as reported in The Wall Street Journal
or such other source as the Committee deems reliable or if there is no closing price for such date, the determination shall be made by
reference to the last date preceding such date for which there is a closing price.

 

(c)
If neither (a) nor (b) is applicable as of the date of valuation, then the Fair Market Value shall be determined by the Administrator
in good faith using any reasonable method of evaluation in a manner consistent with the valuation principles under Section 409A of the
Code, which determination shall be conclusive and binding on all interested parties.

 

2.16
“Offering Period” means the periods of approximately six months during which an option granted pursuant to the
Plan may be exercised, (i) commencing on the first Trading Day on or after February 1 of each year and terminating on the first Trading
Day on or following July 31, approximately six months later, and (ii) commencing on the first Trading Day on or after August 1 of each
year and terminating on the first Trading Day on or following January 31, approximately six months later. The duration and timing of
Offering Periods may be changed pursuant to Article 4 and Article 9. In no event may an Offering Period exceed 27 months.

 

2.17
“Participant” means any Eligible Employee who has executed a subscription agreement or enrollment form and been
granted rights to purchase Common Stock pursuant to the Plan.

 

2.18
“Plan” means this 2022 Employee Stock Purchase Plan of the Company.

 

2.19
“Purchase Date” means the last Trading Day of each Offering Period.

 

2.20
“Purchase Price” means, with respect to a particular Offering Period, an amount equal to 85% of the lesser
of the Fair Market Value of a Share on (a) the applicable Enrollment Date, or on (b) the applicable Purchase Date; provided, however,
that the Purchase Price for subsequent Offering Periods may be determined by the Administrator in its sole discretion and at such discount
subject to compliance with Section 423 of the Code (or any successor provision, or any other applicable law, regulation or stock exchange
listing standard) or pursuant to Article 9.

 

2.21
“Related Corporation” means any “parent corporation” or “subsidiary corporation” of the
Company, as those terms are defined in Section 424(e) and (f) respectively, of the Code.

 

2.22
“Securities Act” means the Securities Act of 1933, as amended from time to time.

 

2.23
“Share” means a share of Common Stock.

 

2.24
“Trading Day” means a day on which The Nasdaq Stock Market or principal stock exchange on which the Common Stock
is then listed or admitted for trading is open for trading.

 

    	 

    	 

    

 

ARTICLE
3

 

SHARES
SUBJECT TO THE PLAN

 

3.1
Number of Shares. Subject to Article 8, the aggregate number of Shares that may be issued pursuant to rights granted under the Plan
shall be 1,000,000 Shares. In addition, commencing on January 1, 2024 and on each January 1 thereafter during the term of the Plan, the
number of Shares reserved and available for issuance under the Plan shall be increased by the lesser of (a) 1.0% of the number of outstanding
Shares as of December 31 of the preceding calendar year or (b) such lesser number of Shares as determined by the Administrator. If any
right granted under the Plan shall for any reason terminate without having been exercised, the Common Stock not purchased under such
right shall again become available for the Plan. Notwithstanding anything in this Section 3.1 to the contrary, the number of Shares that
may be issued or transferred pursuant to rights granted under the Plan shall not exceed an aggregate of 1,200,000 Shares, subject to
Article 8.

 

3.2
Shares Distributed. The Shares available for issuance under the Plan may be authorized but unissued Shares, Shares held in treasury,
or Shares reacquired by the Company.

 

ARTICLE
4

 

OFFERING
PERIODS

 

4.1
Offering Periods. The Plan will be implemented by consecutive Offering Periods with a new Offering Period commencing on the first
Trading Day on or after February 1 and August 1 each year, or on such other date as the Administrator will determine. The Administrator
will have the authority to change the commencement date and duration of Offering Periods with respect to future offerings. Provided,
that no Offering Period shall begin before the Effective Date.

 

ARTICLE
5

 

ELIGIBILITY
AND PARTICIPATION

 

5.1
Eligibility. Any Eligible Employee who shall be employed by the Company or any Related Corporation on the day immediately preceding
a given Enrollment Date for an Offering Period shall be eligible to participate in the Plan during such Offering Period, subject to the
requirements of this Article 5 and the limitations imposed by Section 423(b) of the Code.

 

5.2
Enrollment in Plan.

 

(a)
An Eligible Employee may become a Participant in the Plan for an Offering Period by delivering a subscription agreement or enrollment
form to the Company in such form as the Administrator requires and by such time before the Enrollment Date for such Offering Period as
is designated by the Administrator from time to time.

 

(b)
Each such agreement shall designate a whole percentage of such Eligible Employee’s Compensation to be withheld by the Company and
any Related Corporation on each payday during the Offering Period as payroll deductions under the Plan. An Eligible Employee may designate
any whole percentage of Compensation that is not less than 1% and not more than the maximum percentage specified by the Administrator
(which percentage shall be 12% in the absence of any such designation) as payroll deductions. The payroll deductions made for each Participant
shall be credited to an account for such Participant under the Plan and shall be deposited with the general funds of the Company in a
manner consistent with Section 12.5.

 

(c)
A Participant may increase or decrease the percentage of Compensation designated in his or her subscription agreement or enrollment form
at any time during an Offering Period (but not, however, with respect to an Offering Period during the last 20 days of such Offering
Period);provided, however, that the Administrator may limit the number of changes a Participant may make to his or her
payroll deduction elections during each Offering Period (and in the absence of any specific designation by the Administrator, a Participant
shall be allowed one change to his or her payroll deduction elections during each Offering Period). Any such change in payroll deductions
shall be effective with the first full payroll period following five business days after the Company’s receipt of a new subscription
agreement or enrollment form evidencing the new payroll deduction election (or such shorter or longer period as may be specified by the
Administrator).

 

    	 

    	 

    

 

(d)
A Participant may suspend payroll deductions at any time during an Offering Period. Any such suspension of payroll deductions shall be
effective with the first full payroll period following five business days after the Company’s receipt of a written notice of suspension
(or such shorter or longer period as may be specified by the Administrator). In the event a Participant elects to suspend his or her
payroll deductions with respect to an Offering Period, such Participant’s cumulative payroll deductions before the suspension shall
remain in his or her account and shall be applied to the purchase of Shares on the next occurring Purchase Date and shall not be paid
to such Participant unless he or she withdraws from participation in the Plan in accordance with Article 7. A Participant who suspends
payroll deductions during an Offering Period shall not be permitted to resume contributions to the Plan during that Offering Period.

 

(e)
Except as otherwise determined by the Administrator, in its sole discretion from time to time, a Participant may participate in the Plan
only by means of payroll deductions and may not make contributions by lump sum payment for any Offering Period.

 

5.3
Payroll Deductions. Except as otherwise determined by the Administrator, in its sole discretion from time to time, payroll deductions
for a Participant shall commence with the first payroll following the Enrollment Date, and shall end with the last payroll in the Offering
Period to which his or her authorization is applicable, unless sooner terminated by the Participant in accordance with Article 7.

 

5.4
Effect of Enrollment. A Participant’s completion of a subscription agreement or enrollment form will enroll such Participant
in the Plan for each subsequent Offering Period on the terms contained therein until the Participant submits a new subscription agreement
or enrollment form, withdraws from participation under the Plan in accordance with Article 7, or otherwise becomes ineligible to participate
in the Plan.

 

5.5
Limitation on Purchase of Common Stock. An Eligible Employee may be granted rights under the Plan only if such rights, together with
any other rights granted to such Eligible Employee under “employee stock purchase plans” of the Company and any Related Corporations,
do not permit such employee’s rights to purchase stock of the Company or any Related Corporation to accrue at a rate that exceeds
$25,000 of Fair Market Value of such stock (determined as of the first day of the Offering Period during which such rights are granted)
for each calendar year in which such rights are outstanding at any time. This limitation shall be applied in accordance with Section
423(b)(8) of the Code. On each Enrollment Date, each Eligible Employee, pursuant to an offering made under the Plan, will be granted
an option to purchase up to that number of shares of Common Stock purchasable either with a percentage or with a maximum dollar amount,
as designated by the Board, but in either case not exceeding 15% of such Employee’s earnings (or such other percentage as determined,
and as defined by the Board in for each Offering Period) during the period that begins on the Enrollment Date (or such later date as
the Board determines for a particular Offering Period) and ends on the date stated in the offering, which date will be no later than
the end of the Offering Period, and a purchase price equal to 85%, or such other specified percentage, of the Fair Market Value as of
the Enrollment Date. The Board may specify a maximum number of shares of Common Stock that may be purchased by any Participant on any
Purchase Date during such Offering Period.

 

5.6
Decrease or Suspension of Payroll Deductions. Notwithstanding the foregoing, to the extent necessary to comply with Section 423(b)(8)
of the Code and Section 5.5 (and any other limitations set forth in the Plan), a Participant’s payroll deductions may be suspended
by the Administrator at any time during an Offering Period. The balance of the amount credited to the account of each Participant that
has not been applied to the purchase of Shares by reason of Section 423(b)(8) of the Code or Section 5.5 (or the other limitations set
forth in the Plan) shall be paid to such Participant in one lump sum in cash as soon as reasonably practicable following the Purchase
Date.

 

5.7
Leave of Absence. During leaves of absence approved by the Company meeting the requirements of Treasury Regulations Section 1.421-1(h)(2)
under the Code, a Participant may continue participation in the Plan by making cash payments to the Company on his or her normal payday
equal to his or her authorized payroll deduction.

 

ARTICLE
6

 

GRANT
AND EXERCISE OF RIGHTS

 

6.1
Grant of Rights. On the Enrollment Date of each Offering Period, each Eligible Employee participating in such Offering Period shall
be granted a right to purchase the maximum number of whole Shares that an Eligible Employee may purchase during each Offering Period,
subject to the limits in Section 5.5, and shall have the right to purchase, on each Purchase Date during such Offering Period, such number
of whole Shares as is determined by dividing (a) such Participant’s payroll deductions accumulated before such Purchase Date and
retained in the Participant’s account as of the Purchase Date, by (b) the applicable Purchase Price. The right shall expire on
the last day of the Offering Period.

 

    	 

    	 

    

 

6.2
Exercise of Rights. On each Purchase Date, each Participant’s accumulated payroll deductions will automatically be applied
to the purchase of whole Shares of the Company, up to the maximum number of whole Shares permitted pursuant to the terms of the Plan
or as determined by the Administrator in its sole discretion from time to time, at the Purchase Price. No fractional Shares shall be
issued upon the exercise of rights granted under the Plan, unless the Administrator specifically provides otherwise. Any cash in lieu
of fractional Shares remaining after the purchase of whole Shares upon exercise of a purchase right will be credited to a Participant’s
account and carried forward and applied toward the purchase of whole Shares for the next following Offering Period.

 

6.3
Purchase of Shares. As soon as practicable following the applicable Purchase Date, the number of shares of Common Stock purchased
by a Participant pursuant to Section 6.2 shall be delivered (either in share certificate or book entry form), in the Company’s
sole discretion, to either (i) the Participant or (ii) an account established in the Participant’s name at a stock brokerage or
other financial services firm designated by the Company.

 

6.4
Pro Rata Allocation of Shares. If the Administrator determines that, on a given Purchase Date, the number of Shares with respect
to which rights are to be exercised may exceed (a) the number of Shares that were available for issuance under the Plan on the Enrollment
Date of the applicable Offering Period, or (b) the number of Shares available for issuance under the Plan on such Purchase Date, the
Administrator may in its sole discretion provide that the Company shall make a pro rata allocation of the Shares available for purchase
on such Enrollment Date or Purchase Date, as applicable, in as uniform a manner as shall be practicable and as it shall determine in
its sole discretion to be equitable among all Participants for whom rights to purchase Common Stock are to be exercised pursuant to this
Article 6 on such Purchase Date, and shall either (a) continue all Offering Periods then in effect, or (b) terminate any or all Offering
Periods then in effect pursuant to Article 9. The Company may make a pro rata allocation of the Shares available on the Enrollment Date
of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional Shares for issuance
under the Plan by the Company’s stockholders after such Enrollment Date. The balance of the amount credited to the account of each
Participant that has not been applied to the purchase of Shares shall be paid to such Participant in one lump sum in cash as soon as
reasonably practicable after the Purchase Date.

 

6.5
Withholding. At the time a Participant’s rights under the Plan are exercised, in whole or in part, or at the time some or all
of the Common Stock issued under the Plan is disposed of, the Participant must make adequate provision for the Company’s federal,
state, or other tax withholding obligations, if any, that arise upon the exercise of the right or the disposition of the Common Stock.
At any time, the Company may, but shall not be obligated to, withhold from the Participant’s compensation the amount necessary
for the Company to meet applicable withholding obligations, including any withholding required to make available to the Company any tax
deductions or benefits attributable to sale or early disposition of Common Stock by the Participant.

 

6.6
Conditions to Issuance of Common Stock. The Company shall not be required to issue or deliver any certificates for, or make any book
entries evidencing, Shares purchased upon the exercise of rights under the Plan before fulfillment of all of the following conditions:

 

(a)
The admission of such Shares to listing on the principal stock exchange, if any, on which the Common Stock is then listed or admitted
for trading; and

 

(b)
The completion of any registration or other qualification of such Shares under any state or federal law, or under the rules or regulations
of the Securities and Exchange Commission, or any other governmental regulatory body that the Administrator shall, in its sole discretion,
deem necessary or advisable; and

 

(c)
The obtaining of any approval, authorization or waiver from any state or federal governmental agency that the Administrator shall, in
its sole discretion, determine to be necessary or advisable; and

 

(d)
The payment to the Company (by withholding or by direct payment) of all employee-side “withholding” amounts arising under
federal, state or local law in connection with such Shares.

 

    	 

    	 

    

 

ARTICLE
7

 

WITHDRAWAL;
CESSATION OF ELIGIBILITY

 

7.1
Withdrawal. A Participant may elect to withdraw from participation in the Plan at any time by giving written notice to the Company
in a form acceptable to the Administrator no later than five business days before the end of the Offering Period. All of the payroll
deductions credited to the Participant’s account and not yet used to exercise his or her rights under the Plan shall be paid to
the Participant as soon as reasonably practicable after receipt of the notice of withdrawal and such Participant’s rights for the
Offering Period shall be automatically terminated, and no further payroll deductions for the purchase of Shares shall be made for such
Offering Period. If a Participant withdraws from an Offering Period, payroll deductions shall not resume at the beginning of the next
Offering Period unless the Participant delivers a new subscription agreement or enrollment form to the Company.

 

7.2
Suspension. A Participant may suspend payroll deductions at any time during an Offering Period in accordance with Section 5.2(d).
In the event a Participant elects to suspend his or her payroll deductions with respect to an Offering Period, such Participant’s
cumulative payroll deductions before the suspension shall remain in his or her account and shall be applied to the purchase of Shares
on the next occurring Purchase Date and shall not be paid to such Participant unless he or she withdraws from participation in the Plan
in accordance with Section 7.1.

 

7.3
Future Participation. A Participant’s withdrawal from an Offering Period shall not have any effect upon his or her eligibility
to participate in any similar plan that may hereafter be adopted by the Company or in subsequent Offering Periods that commence after
the termination of the Offering Period from which the Participant withdraws.

 

7.4
Cessation of Eligibility. Upon a Participant’s ceasing to be an Eligible Employee for any reason, he or she shall be deemed
to have elected to withdraw from the Plan pursuant to this Article 7 and the payroll deductions credited to such Participant’s
account during the Offering Period shall be paid to such Participant or, in the case of his or her death, to the person or persons entitled
thereto under Section 12.1, as soon as reasonably practicable, and such Participant’s rights for the Offering Period shall be automatically
terminated.

 

ARTICLE
8

 

ADJUSTMENTS
UPON CHANGES IN STOCK

 

8.1
Changes in Capital Structure. Subject to Section 8.3, in the event, after the Effective Date, of any stock dividend, stock split,
combination or reclassification of shares, merger, consolidation, spin-off, recapitalization, distribution of Company assets to stockholders
(other than normal cash dividends), or any other similar corporate event affecting the Common Stock, the Administrator may make such
proportionate adjustments, if any, as the Administrator in its sole discretion may deem appropriate to reflect such change with respect
to (a) the aggregate number and type of Shares (or other securities or property) that may be issued under the Plan (including, but not
limited to, adjustments to the limitations in Section 3.1), (b) the Purchase Price with respect to any outstanding rights, and (c) the
class(es) and number of shares and price per Share subject to outstanding rights.

 

8.2
Other Adjustments. Subject to Section 8.3, in the event of any transaction or event described in Section 8.1, or any unusual or nonrecurring
transactions or events affecting the Company or its outstanding capital stock (including, without limitation, any Change in Control),
and whenever the Administrator determines that such action is appropriate in order to prevent the dilution or enlargement of the benefits
or potential benefits intended to be made available under the Plan or with respect to any right under the Plan, to facilitate such transactions
or events, or to give effect to changes in laws, regulations or principles, the Administrator, in its sole discretion and on such terms
and conditions as it deems appropriate, is hereby authorized to take any one or more of the following actions:

 

(a)
To provide for either (i) termination of any outstanding right in exchange for an amount of cash, if any, equal to the amount that would
have been obtained upon the exercise of such right had such right been currently exercisable or (ii) the replacement of such outstanding
right with other rights or property selected by the Administrator;

 

(b)
To provide that the outstanding rights under the Plan shall be assumed by the successor or survivor corporation, or a parent or subsidiary
thereof, or shall be substituted for by similar rights covering the stock of the successor or survivor corporation, or a parent or subsidiary
thereof, with appropriate adjustments as to the number and kind of shares and prices;

 

    	 

    	 

    

 

(c)
To make adjustments in the number and type of Shares (or other securities or property) subject to outstanding rights under the Plan and/or
in the terms and conditions of outstanding rights and rights that may be granted in the future;

 

(d)
To provide that Participants’ accumulated payroll deductions may be used to purchase Common Stock before the next scheduled Purchase
Date on such date as the Administrator determines and that Participants’ rights under the ongoing Offering Period(s) shall terminate;
and

 

(e)
To provide that all outstanding rights shall terminate without being exercised.

 

8.3
No Adjustment under Certain Circumstances. No adjustment or action described in this Article 8 or in any other provision of the Plan
shall be authorized to the extent that such adjustment or action would cause the Plan to fail to satisfy the requirements of Section
423 of the Code.

 

8.4
No Other Rights. Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision or consolidation
of shares of stock of any class, the payment of any dividend, any increase or decrease in the number of shares of stock of any class
or any dissolution, liquidation, merger, or consolidation of the Company or any other Related Corporation. Except as expressly provided
in the Plan or pursuant to action of the Administrator under the Plan, no issuance by the Company of shares of stock of any class, or
securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect
to, the number of Shares that a Participant shall have the right to buy in any Offering Period or that are available for issuance under
the Plan.

 

ARTICLE
9

 

AMENDMENT,
MODIFICATION, SUSPENSION AND TERMINATION

 

9.1
Amendment, Modification, Suspension and Termination. The Administrator may amend, modify, suspend or terminate the Plan at any time
and from time to time; provided, however, that approval by a vote of the holders of the outstanding shares of the Company’s
capital stock entitled to vote shall be required to amend the Plan: (a) to increase the aggregate number, or change the type, of Shares
that may be sold pursuant to rights under the Plan under Section 3.1 (other than an adjustment as provided by Article 8), (b) to change
the scope of the Participants under the Plan, (c) to change the Plan in any manner that would cause the Plan to no longer be an “employee
stock purchase plan” within the meaning of Section 423(b) of the Code, or (d) if required by the applicable rules or continued
listing requirements adopted by The Nasdaq Stock Market or the principal exchange on which the Shares are then listed or admitted for
trading. No rights may be granted under the Plan during any period of suspension.

 

9.2
Certain Changes to Plan. Without obtaining stockholder consent, without regard to whether any Participant’s rights may be considered
to have been adversely affected, and to the extent permitted by Section 423 of the Code, the Administrator may, in its sole discretion,
(a) change the commencement date of Offering Periods, (b) change the duration of Offering Periods, (c) limit the number of changes in
the amount withheld during an Offering Period, (d) calculate the Compensation amount for any Eligible Employee, (e) establish the maximum
amount of Compensation for which payroll deductions can be made, (f) set the time for delivery of notices under the Plan, and (g) establish
such other limitations or procedures as the Administrator determines to be advisable, in its sole discretion, that are consistent with
the Plan.

 

9.3
Unfavorable Financial or Accounting Consequences. Without obtaining stockholder consent, in the event the Administrator determines
that the ongoing operation of the Plan may result in unfavorable financial or accounting consequences, the Administrator may, in its
sole discretion, modify or amend the Plan to reduce or eliminate such accounting or financial consequence including, but not limited
to, (a) altering the calculation of the Purchase Price for any Offering Period, including an Offering Period underway at the time of
the change in Purchase Price, and (b) modifying the duration of any Offering Period so that the Offering Period ends on a new Purchase
Date, including an Offering Period underway at the time of the change in the Offering Period.

 

9.4
Payments upon Termination of Plan. Upon termination of the Plan, the balance in each Participant’s account shall be refunded
as soon as practicable after such termination.

 

    	 

    	 

    

 

ARTICLE
10

 

STOCKHOLDER
APPROVAL

 

10.1
Stockholder Approval. The Plan will be subject to approval by the stockholders, consistent with applicable laws, within 12 months
after the date this Plan is adopted by the Board. No right may be granted under the Plan before such stockholder approval.

 

ARTICLE
11

 

ADMINISTRATION

 

11.1
Administrator. Authority to control and manage the operation and administration of the Plan shall be vested in the Board, which may
delegate such responsibilities in whole or in part to the Committee, which shall consist of two or more members of the Board. For purposes
of this Plan, the term “Administrator” means the Board or, with respect to any matter as to which responsibility has been
delegated to the Committee, the term Administrator shall mean the Committee. Each of the members of the Committee shall meet the independence
requirements under the then applicable rules or continued listing requirements adopted by The Nasdaq Stock Market or the principal exchange
on which the Shares are then listed or admitted for trading. Members of the Committee may be appointed from time to time by, and shall
serve at the pleasure of, the Board. The Committee may delegate administrative tasks under the Plan to the services of an Agent and/or
Employees to assist in the administration of the Plan, including establishing and maintaining an individual securities account under
the Plan for each Participant.

 

11.2
Authority of Administrator. In addition to any other powers or authority conferred upon the Administrator elsewhere in the Plan (including,
without limitation, in Article 9) or by law, the Administrator shall have full power and authority to: (a) determine the persons to whom,
and the time or times at which, rights to purchase Common Stock shall be granted under the Plan and the provisions of each offering of
such rights (which need not be identical), (b) interpret the Plan and the rights granted under it, (c) establish, amend and revoke rules
and regulations for the administration of the Plan, (d) correct any defect or omission, or reconcile any inconsistency in the Plan, (e)
amend the Plan as provided in Article 9, (f) exercise such powers and perform such acts as the Administrator deems necessary to carry
out the intent that the Plan be treated as an “employee stock purchase plan” within the meaning of Section 423 of the Code,
and (g) make all other determinations necessary or advisable for the administration of the Plan, but only to the extent not contrary
to the express provisions of the Plan. Any action, decision, interpretation or determination made in good faith by the Administrator
in the exercise of its authority conferred upon it under the Plan shall be final and binding on the Company and all Participants.

 

11.3
Expenses. All expenses and liabilities incurred by the Administrator in connection with the administration of the Plan shall be borne
by the Company. The Administrator may, with the approval of the Board or Committee, as applicable, employ attorneys, consultants, accountants,
brokerage firms, banks, financial institutions or other persons. The Administrator, the Company and its officers and directors shall
be entitled to rely upon the advice, opinions or valuations of any such persons. All actions taken and all interpretations and determinations
made by the Administrator in good faith shall be final and binding upon all Participants, the Company and all other interested persons.

 

11.4
Limitation on Liability. No employee of the Company or member of the Board or Committee shall be subject to any liability with respect
to duties under the Plan unless the person acts fraudulently or in bad faith. To the extent permitted by law, the Company shall indemnify
each member of the Board or Committee, and any employee of the Company to whom duties are delegated under the Plan, who was or is a party,
or is threatened to be made a party, to any threatened, pending or completed proceeding, whether civil, criminal, administrative or investigative,
by reason of such person’s conduct in the performance of duties under the Plan.

 

ARTICLE
12

 

MISCELLANEOUS

 

12.1
Restriction upon Assignment. A right granted under the Plan shall not be transferable other than by will or the applicable laws of
descent and distribution, and is exercisable during the Participant’s lifetime only by the Participant. The Company shall not recognize
and shall be under no duty to recognize any assignment or alienation of the Participant’s interest in the Plan, the Participant’s
rights under the Plan or any rights thereunder.

 

    	 

    	 

    

 

12.2
Rights as a Stockholder. Participant shall not be deemed to be a holder of, or to have any of the rights of a holder with respect
to, Shares subject to a right granted under the Plan unless and until such Shares have been issued to the Participant in accordance with
Section 6.3, the Company’s transfer agent shall have transferred the Shares to Participant, and Participant’s name shall
have been entered as the stockholder of record on the books of the Company. Thereupon, Participant shall have full voting, dividend and
other ownership rights with respect to such Shares.

 

12.3
Interest. In no event shall interest accrue on the payroll deductions of a Participant under the Plan.

 

12.4
Notices. All notices or other communications by a Participant to the Company under or in connection with the Plan shall be deemed
to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company
for the receipt thereof.

 

12.5
Application of Funds. All payroll deductions received or held by the Company under the Plan may be used by the Company for any corporate
purpose, and the Company shall not be obligated to segregate such payroll deductions.

 

12.6
Account Statements. Individual accounts shall be maintained for each Participant in the Plan. Statements of individual accounts shall
be given to Participants at least annually, which statements shall set forth the amount of payroll deductions made, the Purchase Price
paid, the number of Shares purchased, and the remaining cash balance, if any. The Committee may delegate responsibility to prepare and
distribute the account statements to an Agent and/or Employee(s).

 

12.7
No Enlargement of Employee Rights. This Plan is strictly a voluntary undertaking on the part of the Company and shall not be deemed
to constitute a contract between the Company and any Eligible Employee or Participant to be consideration for, or an inducement to, or
a condition of, the employment of any Eligible Employee or Participant. Nothing contained in the Plan shall be deemed to give the right
to any Participant to be retained as an employee of the Company or any Related Corporation or to interfere with the right of the Company
or any Related Corporation to discharge any Eligible Employee or Participant at any time.

 

12.8
Effect upon Other Plans. The adoption of the Plan shall not affect any other compensation or incentive plans in effect for the Company.
Nothing in the Plan shall be construed to limit the right of the Company to establish any other forms of incentives or compensation for
Employees of the Company or any Related Corporation.

 

12.9
Section 16 Persons. Notwithstanding any other provision of the Plan, the Plan and the participation in the Plan by any individual
who is then subject to Section 16 of the Exchange Act shall be subject to any additional limitations set forth in any applicable exemption
rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application
of such exemptive rule. To the extent permitted by applicable law, the Plan shall be deemed amended to the extent necessary to conform
to such applicable exemptive rule.

 

12.10
Notice of Disposition of Shares. Each Participant shall give prompt notice to the Company of any disposition or other transfer of
any Shares purchased upon exercise of a right under the Plan if such disposition or transfer is made: (a) within two years from the Enrollment
Date of the Offering Period in which the Shares were purchased or (b) within one year after the Purchase Date on which such Shares were
purchased. Such notice shall specify the date of such disposition or other transfer, the amount and type of consideration realized (cash,
other property, assumption of indebtedness or other consideration) by the Participant in such disposition or other transfer, and such
additional information as may be requested by the Administrator.

 

12.11
Equal Rights and Privileges. All Eligible Employees of the Company and any Related Corporation shall have equal rights and privileges
under this Plan to the extent required under Section 423 of the Code so that this Plan qualifies as an “employee stock purchase
plan” within the meaning of Section 423 of the Code. Any provision of this Plan that is inconsistent with Section 423 of the Code
shall, without further act or amendment by the Company or the Board, be reformed to comply with the equal rights and privileges requirement
of Section 423 of the Code.

 

 

12.12
Governing Law. The Plan and any agreements hereunder shall be administered, interpreted and enforced under the internal laws of the
State of Delaware without regard to principles of conflicts of laws thereof or of any other jurisdiction.

 

12.13
Electronic Delivery. Any reference herein to a “written” agreement or document shall include any agreement or document
delivered electronically, filed publicly at www.sec.gov (or any successor website thereto) or posted on the Company’s intranet
(or other shared electronic medium controlled by the Company to which a Participant has access).

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