Document:

Exhibit 10.6

 

 

 

 

 

ANNEX F

 

 

 

 

CRYOMASS TECHNOLOGIES INC.

2022 OMNIBUS INCENTIVE PLAN

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

TABLE OF CONTENTS

 

	1.	Purpose of Plan	1
	 	 	 
	2.	Definitions	1
	 	 	 
	3.	Plan Administration	6
	 	 	 
	4.	Shares Available for Issuance	8
	 	 	 
	5.	Participation	9
	 	 	 
	6.	Options	9
	 	 	 
	7.	Stock Appreciation Rights	11
	 	 	 
	8.	Restricted Stock Awards, Restricted Stock Units and Deferred Stock Units	12
	 	 	 
	9.	Performance Awards	14
	 	 	 
	10.	Non-Employee Director Awards	15
	 	 	 
	11.	Other Stock-Based Awards	16
	 	 	 
	12.	Dividend Equivalents	16
	 	 	 
	13.	Effect of Termination of Employment or Other Service	16
	 	 	 
	14.	Payment of Withholding Taxes	19
	 	 	 
	15.	Change in Control	20
	 	 	 
	16.	Rights of Eligible Recipients and Participants; Transferability	22
	 	 	 
	17.	Securities Law and Other Restrictions	24
	 	 	 
	18.	Deferred Compensation; Compliance with Section 409A	25
	 	 	 
	19.	Amendment, Modification and Termination	25
	 	 	 
	20.	Substituted Awards	26
	 	 	 
	21.	Effective Date and Duration of this Plan	26
	 	 	 
	22.	Miscellaneous	26

 

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CRYOMASS TECHNOLOGIES
INC.

2022 OMNIBUS INCENTIVE PLAN

 

		1.	Purpose of Plan.

 

The purpose of the Cryomass
Technologies Inc. 2022 Omnibus Incentive Plan (this “Plan”) is to advance the interests of Cryomass Technologies Inc.,
a Nevada corporation (the “Company”), and its stockholders by enabling the Company and its Subsidiaries to attract
and retain qualified individuals to perform services for the Company and its Subsidiaries, providing incentive compensation for such individuals
that is linked to the growth and profitability of the Company and increases in stockholder value and aligning the interests of such individuals
with the interests of its stockholders through opportunities for equity participation in the Company.

 

		2.	Definitions.

 

The following terms will have
the meanings set forth below, unless the context clearly otherwise requires. Terms defined elsewhere in this Plan will have the same meaning
throughout this Plan.

 

2.1 “Adverse
Action” means any action or conduct by a Participant that the Committee, in its sole discretion, determines to be injurious,
detrimental, prejudicial or adverse to the interests of the Company or any Subsidiary, including: (a) disclosing confidential information
of the Company or any Subsidiary to any person not authorized by the Company or Subsidiary to receive it, (b) engaging, directly
or indirectly, in any commercial activity that in the judgment of the Committee competes with the business of the Company or any Subsidiary
or (c) interfering with the relationships of the Company or any Subsidiary and their respective employees, independent contractors, customers,
prospective customers and vendors.

 

2.2 “Affiliate”
means, with respect to any Person, any other Person directly or indirectly controlling, controlled by or under common control with, such
Person where “control” will have the meaning given such term under Rule 405 of the Securities Act.

 

2.3 “Applicable
Law” means any applicable law, including without limitation, (a) provisions of the Code, the Securities Act, the Exchange Act
and any rules or regulations thereunder; (b) corporate, securities, tax or other laws, statutes, rules, requirements or regulations, whether
federal, state, local or foreign; and (c) rules of any securities exchange, national market system or automated quotation system on which
the shares of Common Stock are listed, quoted or traded.

 

2.4 “Award”
means, individually or collectively, an Option, Stock Appreciation Right, Restricted Stock Award, Restricted Stock Unit, Deferred Stock
Unit, Performance Award, Non-Employee Director Award, or Other Stock-Based Award, in each case granted to an Eligible Recipient pursuant
to this Plan.

 

2.5 “Award
Agreement” means either: (a) a written or electronic (as provided in Section 22.7) agreement entered into by the Company and
a Participant setting forth the terms and provisions applicable to an Award granted under this Plan, including any amendment or modification
thereof, or (b) a written or electronic (as provided in Section 22.7) statement issued by the Company to a Participant describing the
terms and provisions of such an Award, including any amendment or modification thereof.

 

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

 

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2.7 “Broker
Exercise Notice” means a written notice pursuant to which a Participant, upon exercise of an Option, irrevocably instructs a
broker or dealer to sell a sufficient number of shares of Common Stock to pay all or a portion of the exercise price of the Option or
any related withholding tax obligations and remit such sums to the Company and directs the Company to deliver shares of Common Stock to
be issued upon such exercise directly to such broker or dealer or its nominee.

 

2.8 “Cause”
means, unless otherwise provided in an Award Agreement, (a) “Cause” as defined in any employment, consulting, severance or
similar agreement between the Participant and the Company or one of its Subsidiaries or Affiliates (an “Individual Agreement”),
or (b) if there is no such Individual Agreement or if it does not define Cause: (i) dishonesty, fraud, misrepresentation, embezzlement
or deliberate injury or attempted injury, in each case related to the Company or any Subsidiary; (ii) any unlawful or criminal activity
of a serious nature; (iii) any intentional and deliberate breach of a duty or duties that, individually or in the aggregate, are material
in relation to the Participant’s overall duties; (iv) any material breach by a Participant of any employment, service, confidentiality,
non-compete or non-solicitation agreement entered into with the Company or any Subsidiary; or (v) before a Change in Control, such other
events as will be determined by the Committee. Before a Change in Control, the Committee will, unless otherwise provided in an Individual
Agreement, have the sole discretion to determine whether “Cause” exists with respect to subclauses (i), (ii), (iii), (iv)
or (v) above, and its determination will be final.

 

2.9 “Change
in Control” means, unless otherwise provided in an Award Agreement or any Individual Agreement, and except as provided in Section
18, an event described in Section 15.1 of this Plan.

 

2.10 “Code”
means the Internal Revenue Code of 1986, as amended. Any reference to a section of the Code herein will be deemed to include a reference
to any applicable regulations thereunder and any successor or amended section of the Code.

 

2.11 “Committee”
means the Board or, if the Board so delegates, the Compensation Committee of the Board or a subcommittee thereof, or any other committee
delegated authority by the Board to administer this Plan. If the Board determines appropriate, such committee may be comprised solely
of directors designated by the Board to administer this Plan who are (a) “non-employee directors” within the meaning of Rule
16b-3 under the Exchange Act, and (b) “independent directors” within the meaning of the rules of the NYSE American (or other
applicable exchange or market on which the Common Stock may be traded or quoted). The members of the Committee will be appointed from
time to time by and will serve at the discretion of the Board. Any action duly taken by the Committee will be valid and effective, whether
or not the members of the Committee at the time of such action are later determined not to have satisfied the requirements of membership
provided herein.

 

2.12 “Common
Stock” means the common stock of the Company, par value $0.001 per share, or the number and kind of shares of stock or other
securities into which such Common Stock may be changed in accordance with Section 4.4 of this Plan.

 

2.13 “Company”
means Cryomass Technologies Inc., Inc., a Nevada corporation, and any successor thereto as provided in Section 22.5 of this Plan.

 

2.14 “Consultant”
means a person engaged to provide consulting or advisory services (other than as an Employee or a Director) to the Company or any Subsidiary
that: (a) are not in connection with the offer and sale of the Company’s securities in a capital raising transaction and (b) do
not directly or indirectly promote or maintain a market for the Company’s securities.

 

2.15 “Deferred
Stock Unit” means a right granted to an Eligible Recipient pursuant to Section 8 of this Plan to receive shares of Common
Stock (or the equivalent value in cash or other property if the Committee so provides) at a future time as determined by the Committee,
or as determined by the Participant within guidelines established by the Committee in the case of voluntary deferral elections.

 

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2.16 “Director”
means a member of the Board.

 

2.17 “Disability”
means, unless otherwise provided in an Award Agreement, with respect to a Participant who is a party to an Individual Agreement, which
agreement contains a definition of “disability” or “permanent disability” (or words of like import) for purposes
of termination of employment thereunder by the Company, “disability” or “permanent disability” as defined in the
most recent of such agreements; or in all other cases, means the disability of the Participant such as would entitle the Participant to
receive disability income benefits pursuant to the long-term disability plan of the Company or Subsidiary then covering the Participant
or, if no such plan exists or is applicable to the Participant, the permanent and total disability of the Participant within the meaning
of Section 22(e)(3) of the Code.

 

2.18 “Dividend
Equivalents” has the meaning set forth in Section 3.2(l) of this Plan.

 

2.19 “Effective
Date” means January 1, 2022 or such later date as this Plan is initially approved by the Company’s stockholders.

 

2.20 “Eligible
Recipients” means all Employees, all Non-Employee Directors and all Consultants.

 

2.21 “Employee”
means any individual performing services for the Company or a Subsidiary and designated as an employee of the Company or a Subsidiary
on the payroll records thereof. An Employee will not include any individual during any period he or she is classified or treated by the
Company or Subsidiary as an independent contractor, a consultant, or any employee of an employment, consulting or temporary agency or
any other entity other than the Company or Subsidiary, without regard to whether such individual is subsequently determined to have been,
or is subsequently retroactively reclassified as a common-law employee of the Company or Subsidiary during such period. An individual
will not cease to be an Employee in the case of: (a) any leave of absence approved by the Company, or (b) transfers between locations
of the Company or between the Company or any Subsidiaries. For purposes of Incentive Stock Options, no such leave may exceed ninety (90)
days, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave
of absence approved by the Company or a Subsidiary, as applicable, is not so guaranteed, then three (3) months following the ninety-first
(91st) day of such leave, any Incentive Stock Option held by a Participant will cease to be treated as an Incentive Stock Option and will
be treated for tax purposes as a Non-Statutory Stock Option. Neither service as a Director nor payment of a Director’s fee by the
Company will be sufficient to constitute “employment” by the Company.

 

2.22 “Exchange
Act” means the Securities Exchange Act of 1934, as amended. Any reference to a section of the Exchange Act herein will be deemed
to include a reference to any applicable rules and regulations thereunder and any successor or amended section of the Exchange Act.

 

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2.23 “Fair
Market Value” means, with respect to the Common Stock, as of any date a price that is based on the opening, closing, actual,
high, low, or average selling prices of a share of Common Stock as reported on the NYSE American or other established stock exchange (or
exchanges) or if the Common Stock is not so listed, admitted to unlisted trading privileges or reported on any national exchange, then
as reported by the OTC Bulletin Board, OTC Markets or other comparable quotation service, on the applicable date, the preceding trading
day, the next succeeding trading day, or an average of trading days that is within thirty (30) days before or after the applicable valuation
date, as determined by the Committee in its discretion, provided that with respect to establishing the exercise price of an Option or
Stock Appreciation Right, the Committee shall irrevocably commit to grant such Award prior to the period during which the Fair Market
Value is determined. Unless the Committee determines otherwise, Fair Market Value shall be deemed to be equal to the closing sale price
of the Common Stock as of the immediately preceding trading date at the end of the regular trading session, as reported by the NYSE American
or any national securities exchange on which the Common Stock is then listed (or, if no shares were traded on such date, as of the next
preceding date on which there was such a trade) or if the Common Stock is not so listed, admitted to unlisted trading privileges or reported
on any national exchange, the closing sale price as of the immediately preceding trading date at the end of the regular trading session,
as reported by the OTC Bulletin Board, OTC Markets or other comparable quotation service (or, if no shares were traded or quoted on such
date, as of the next preceding date on which there was such a trade or quote). In the event the Common Stock is not publicly traded at
the time a determination of its value is required to be made hereunder, the determination of Fair Market Value shall be made by the Committee
in such manner as it deems appropriate and in good faith in the exercise of its reasonable discretion, and consistent with the definition
of “fair market value” under Section 409A of the Code. If determined by the Committee, such determination will be final, conclusive
and binding for all purposes and on all persons, including the Company, the stockholders of the Company, the Participants and their respective
successors-in-interest. No member of the Committee will be liable for any determination regarding the fair market value of the Common
Stock that is made in good faith.

 

2.24 
“Grant Date” means the date an Award is granted to a Participant pursuant to this Plan and as determined pursuant to
Section 5 of this Plan.

 

2.25 “Incentive
Stock Option” means a right to purchase Common Stock granted to an Employee pursuant to Section 6 of this Plan that is designated
as and intended to meet the requirements of an “incentive stock option” within the meaning of Section 422 of the Code.

 

2.26 “Individual
Agreement” has the meaning set forth in Section 2.8 of this Plan.

 

2.27 “Non-Employee
Director” means a Director who is not an Employee.

 

2.28 “Non-Employee
Director Award” means any Award granted, whether singly, in combination, or in tandem, to an Eligible Recipient who is a Non-Employee
Director, pursuant to such applicable terms, conditions and limitations as the Board or Committee may establish in accordance with this
Plan, including any Non-Employee Director Option.

 

2.29 “Non-Employee
Director Option” means a Non-Statutory Stock Option granted to a Non-Employee Director pursuant to Section 10 of this Plan.

 

2.30 “Non-Statutory
Stock Option” means a right to purchase Common Stock granted to an Eligible Recipient pursuant to Section 6 of this Plan that
is not intended to meet the requirements of or does not qualify as an Incentive Stock Option.

 

2.31 “Option”
means an Incentive Stock Option or a Non-Statutory Stock Option, including a Non-Employee Director Option.

 

2.32 “Other
Stock-Based Award” means an Award, denominated in Shares, not otherwise described by the terms of this Plan, granted pursuant
to Section 11 of this Plan.

 

2.33 “Participant”
means an Eligible Recipient who receives one or more Awards under this Plan.

 

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2.34 “Performance
Award” means a right granted to an Eligible Recipient pursuant to Section 9 of this Plan to receive an amount of cash, number
of shares of Common Stock, or a combination of both, contingent upon and the value of which at the time it is payable is determined as
a function of the extent of the achievement of one or more Performance Goals during a specified Performance Period or the achievement
of other objectives during a specified period.

 

2.35 “Performance
Goals” mean with respect to any applicable Award, one or more targets, goals or levels of attainment required to be achieved
during the specified Performance Period, as set forth in the related Award Agreement.

 

2.36 “Performance
Period” means the period of time, as determined by the Committee, during which the Performance Goals must be met in order to
determine the degree of payout or vesting with respect to an Award.

 

2.37 “Period
of Restriction” means the period when a Restricted Stock Award or Restricted Stock Units are subject to a substantial risk of
forfeiture (based on the passage of time, the achievement of Performance Goals, or upon the occurrence of other events as determined by
the Committee, in its discretion), as provided in Section 8 of this Plan.

 

2.38 “Person”
means an individual, partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association,
joint venture, governmental authority or any other entity of whatever nature.

 

2.39 “Plan”
means the Cryomass Technologies Inc. 2022 Omnibus Incentive Plan, as may be amended from time to time.

 

2.40 “Plan
Year” means the Company’s fiscal year.

 

2.41 “Previously
Acquired Shares” means shares of Common Stock that are already owned by the Participant or, with respect to any Award, that
are to be issued to the Participant upon the grant, exercise, vesting or settlement of such Award.

 

2.42 “Restricted
Stock Award” means an award of Common Stock granted to an Eligible Recipient pursuant to Section 8 of this Plan that is subject
to the restrictions on transferability and the risk of forfeiture imposed by the provisions of such Section 8.

 

2.43 “Restricted
Stock Unit” means an award denominated in shares of Common Stock granted to an Eligible Recipient pursuant to Section 8 of this
Plan.

 

2.44 “Retirement,”
means, unless otherwise defined in the Award Agreement or in an Individual Agreement between the Participant and the Company or one of
its Subsidiaries or Affiliates, “Retirement” as defined from time to time for purposes of this Plan by the Committee or by
the Company’s chief human resources officer or other person performing that function or, if not so defined, means voluntary termination
of employment or service by the Participant on or after the date the Participant reaches age fifty-five (55) with the present intention
to leave the Company’s industry or to leave the general workforce.

 

2.45 “Securities
Act” means the Securities Act of 1933, as amended. Any reference to a section of the Securities Act herein will be deemed to
include a reference to any applicable rules and regulations thereunder and any successor or amended section of the Securities Act.

 

2.46 “Stock
Appreciation Right” means a right granted to an Eligible Recipient pursuant to Section 7 of this Plan to receive a payment from
the Company upon exercise, in the form of shares of Common Stock, cash or a combination of both, equal to the difference between the Fair
Market Value of one or more shares of Common Stock and the grant price of such shares under the terms of such Stock Appreciation Right.

 

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2.47 “Stock-Based
Award” means any Award, denominated in Shares, made pursuant to this Plan, including Options, Stock Appreciation Rights, Restricted
Stock, Restricted Stock Units, Deferred Stock Units, Performance Awards or Other Stock-Based Awards.

 

2.48 “Subsidiary”
means any corporation or other entity, whether domestic or foreign, in which the Company has or obtains, directly or indirectly, an interest
of more than fifty percent (50%) by reason of stock ownership or otherwise.

 

2.49 “Tax
Date” means the date any withholding or employment related tax obligation arises under the Code or any Applicable Law for a
Participant with respect to an Award.

 

2.50 “Tax
Laws” has the meaning set forth in Section 22.8 of this Plan.

 

		3.	Plan Administration.

 

3.1 The
Committee. The Plan will be administered by the Committee. The Committee will act by majority approval of the members at a meeting
or by unanimous written consent, and a majority of the members of the Committee will constitute a quorum. The Committee may exercise its
duties, power and authority under this Plan in its sole discretion without the consent of any Participant or other party, unless this
Plan specifically provides otherwise. The Committee will not be obligated to treat Participants or Eligible Recipients uniformly, and
determinations made under this Plan may be made by the Committee selectively among Participants or Eligible Recipients, whether or not
such Participants and Eligible Recipients are similarly situated. Each determination, interpretation or other action made or taken by
the Committee pursuant to the provisions of this Plan will be final, conclusive and binding for all purposes and on all persons, and no
member of the Committee will be liable for any action or determination made in good faith with respect to this Plan or any Award granted
under this Plan.

 

3.2 Authority
of the Committee. In accordance with and subject to the provisions of this Plan, the Committee will have full and exclusive discretionary
power and authority to take such actions as it deems necessary and advisable with respect to the administration of this Plan, including
the following:

 

(a) To
designate the Eligible Recipients to be selected as Participants;

 

(b) To
determine the nature, extent and terms of the Awards to be made to each Participant, including the amount of cash or number of shares
of Common Stock to be subject to each Award, any exercise price or grant price, the manner in which Awards will vest, become exercisable,
settled or paid out and whether Awards will be granted in tandem with other Awards, and the form of Award Agreement, if any, evidencing
such Award;

 

(c) To
determine the time or times when Awards will be granted;

 

(d) To
determine the duration of each Award;

 

(e) To
determine the terms, restrictions and other conditions to which the grant of an Award or the payment or vesting of Awards may be subject;

 

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(f) To
construe and interpret this Plan and Awards granted under it, and to establish, amend and revoke rules and regulations for its administration
and in so doing, to correct any defect, omission, or inconsistency in this Plan or in an Award Agreement, in a manner and to the extent
it will deem necessary or expedient to make this Plan fully effective;

 

(g) To
determine Fair Market Value in accordance with Section 2.23 of this Plan;

 

(h) To
amend this Plan or any Award Agreement, as provided in this Plan;

 

(i) To
adopt subplans or special provisions applicable to Awards regulated by the laws of a jurisdiction other than, and outside of, the United
States, which except as otherwise provided in this Plan, such subplans or special provisions may take precedence over other provisions
of this Plan;

 

(j) To
authorize any person to execute on behalf of the Company any Award Agreement or any other instrument required to effect the grant of an
Award previously granted by the Committee;

 

(k) To
determine whether Awards will be settled in shares of Common Stock, cash or in any combination thereof;

 

(l) To
determine whether Awards will be adjusted for dividend equivalents, with “Dividend Equivalents” meaning a credit, made
at the discretion of the Committee, to the account of a Participant in an amount equal to the cash dividends paid on one share of Common
Stock for each share of Common Stock represented by an Award held by such Participant, subject to Section 12 of this Plan and any other
provision of this Plan, and which Dividend Equivalents may be subject to the same conditions and restrictions as the Awards to which they
attach and may be settled in the form of cash, shares of Common Stock, or in any combination of both; and

 

(m) To
impose such restrictions, conditions or limitations as it determines appropriate as to the timing and manner of any resales by a Participant
or other subsequent transfers by the Participant of any shares of Common Stock, including restrictions under an insider trading policy,
stock ownership guidelines, restrictions as to the use of a specified brokerage firm for such resales or other transfers and other restrictions
designed to increase equity ownership by Participants or otherwise align the interests of Participants with the Company’s stockholders.

 

3.3 Delegation.
To the extent permitted by Applicable Law, the Committee may delegate to one or more of its members or to one or more officers of the
Company or any Subsidiary or to one or more agents or advisors such administrative duties or powers as it may deem advisable, and the
Committee or any individuals to whom it has delegated duties or powers as aforesaid may employ one or more individuals to render advice
with respect to any responsibility the Committee or such individuals may have under this Plan. The Committee may, by resolution, authorize
one or more directors of the Company or one or more officers of the Company to do one or both of the following on the same basis as can
the Committee: (a) designate Eligible Recipients to be recipients of Awards pursuant to this Plan; and (b) determine the size of any such
Awards; provided, however, that (x) the Committee will not delegate such responsibilities to any such director(s) or officer(s)
for any Awards granted to an Eligible Recipient: (i) who is a Non-Employee Director or who is subject to the reporting and liability provisions
of Section 16 under the Exchange Act, or (ii) to whom authority to grant or amend Awards has been delegated hereunder; provided,
further; that any delegation of administrative authority will only be permitted to the extent it is permissible under Applicable
Law; (y) the resolution providing such authorization will set forth the type of Awards and total number of each type of Awards such director(s)
or officer(s) may grant; and (z) such director(s) or officer(s) will report periodically to the Committee regarding the nature and scope
of the Awards granted pursuant to the authority delegated. At all times, the delegate appointed under this Section 3.3 will serve in such
capacity at the pleasure of the Committee.

 

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3.4 No
Re-pricing. Notwithstanding any other provision of this Plan, the Committee may not, without prior approval of the Company’s
stockholders, seek to effect any re-pricing of any previously granted, “underwater” Option or Stock Appreciation Right by:
(a) amending or modifying the terms of the Option or Stock Appreciation Right to lower the exercise price or grant price; (b) canceling
the underwater Option or Stock Appreciation Right in exchange for (i) cash; (ii) replacement Options or Stock Appreciation Rights having
a lower exercise price or grant price; or (iii) other Awards; or (c) repurchasing the underwater Options or Stock Appreciation Rights
and granting new Awards under this Plan. For purposes of this Section 3.4, an Option or Stock Appreciation Right will be deemed to be
“underwater” at any time when the Fair Market Value of the Common Stock is less than the exercise price of the Option or grant
price of the Stock Appreciation Right.

 

		4.	Shares Available for Issuance.

 

4.1 Maximum
Number of Shares Available. Subject to adjustment as provided in Section 4.4 of this Plan, the maximum number of shares of Common
Stock that will be available for issuance under this Plan will be 30,000,000 shares.

 

4.2 Limits
on Incentive Stock Options and Non-Employee Director Awards. Notwithstanding any other provisions of this Plan to the contrary and
subject to adjustment as provided in Section 4.4 of this Plan,

 

(a) the
maximum aggregate number of shares of Common Stock that will be available for issuance pursuant to Incentive Stock Options under this
Plan may not exceed 30,000,000 shares; and

 

(b) the
maximum aggregate number of shares of Common Stock granted as an Award to any Non-Employee Director in any one Plan Year will be 100,000
shares; provided that such limit will not apply to any election of a Non-Employee Director to receive shares of Common Stock in lieu of
all or a portion of any annual Board, committee, chair or other retainer, or any meeting fees otherwise payable in cash.

 

4.3 Accounting
for Awards. Shares of Common Stock that are issued under this Plan or that are subject to outstanding Awards will be applied to reduce
the maximum number of shares of Common Stock remaining available for issuance under this Plan only to the extent they are used; provided,
however, that the full number of shares of Common Stock subject to a stock-settled Stock Appreciation Right or other Stock-Based
Award will be counted against the shares authorized for issuance under this Plan, regardless of the number of shares actually issued upon
settlement of such Stock Appreciation Right or other Stock-Based Award. Furthermore, any shares of Common Stock withheld to satisfy tax
withholding obligations on Awards issued under this Plan, any shares of Common Stock withheld to pay the exercise price or grant price
of Awards under this Plan and any shares of Common Stock not issued or delivered as a result of the “net exercise” of an outstanding
Option pursuant to Section 6.5 or settlement of a Stock Appreciation Right in shares of Common Stock pursuant to Section 7.6 will be counted
against the shares of Common Stock authorized for issuance under this Plan and will not be available again for grant under this Plan.
Shares of Common Stock subject to Awards settled in cash will again be available for issuance pursuant to Awards granted under the Plan.
Any shares of Common Stock repurchased by the Company on the open market using the proceeds from the exercise of an Award will not increase
the number of shares of Common Stock available for future grant of Awards. Any shares of Common Stock related to Awards granted under
this Plan that terminate by expiration, forfeiture, cancellation or otherwise without the issuance of the shares of Common Stock, will
be available again for grant under this Plan. To the extent permitted by Applicable Law, shares of Common Stock issued in assumption of,
or in substitution for, any outstanding awards of any entity acquired in any form of combination by the Company or a Subsidiary pursuant
to Section 20 of this Plan or otherwise will not be counted against shares of Common Stock available for issuance pursuant to this Plan.
The shares of Common Stock available for issuance under this Plan may be authorized and unissued shares or treasury shares.

 

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4.4 Adjustments
to Shares and Awards.

 

(a) In
the event of any reorganization, merger, consolidation, recapitalization, liquidation, reclassification, stock dividend, stock split,
combination of shares, rights offering, divestiture or extraordinary dividend (including a spin off) or any other similar change in the
corporate structure or shares of Common Stock the Company, the Committee (or, if the Company is not the surviving corporation in any such
transaction, the board of directors of the surviving corporation) will make appropriate adjustment or substitutions (which determination
will be conclusive) as to: (i) the number and kind of securities or other property (including cash) available for issuance or payment
under this Plan, including the sub-limits set forth in Section 4.2 of this Plan, and (ii) in order to prevent dilution or enlargement
of the rights of Participants, the number and kind of securities or other property (including cash) subject to outstanding Awards and
the exercise price of outstanding Awards; provided, however, that this Section 4.4 will not limit the authority of the Committee
to take action pursuant to Section 15 of this Plan in the event of a Change in Control. The determination of the Committee as to the foregoing
adjustments and/or substitutions, if any, will be final, conclusive and binding on Participants under this Plan.

 

(b) Notwithstanding
anything else herein to the contrary, without affecting the number of shares of Common Stock reserved or available hereunder, the limits
in Section 4.2 of this Plan, the Committee may authorize the issuance or assumption of benefits under this Plan in connection with any
merger, consolidation, acquisition of property or stock or reorganization upon such terms and conditions as it may deem appropriate, subject
to compliance with the rules under Sections 422, 424 and 409A of the Code, as and where applicable.

 

		5.	Participation.

 

Participants in this Plan
will be those Eligible Recipients who, in the judgment of the Committee, have contributed, are contributing or are expected to contribute
to the achievement of the objectives of the Company or its Subsidiaries. Eligible Recipients may be granted from time to time one or more
Awards, singly or in combination or in tandem with other Awards, as may be determined by the Committee in its sole discretion. Awards
will be deemed to be granted as of the date specified in the grant resolution of the Committee, which date will be the Grant Date of any
related Award Agreement with the Participant.

 

		6.	Options.

 

6.1 Grant.
An Eligible Recipient may be granted one or more Options under this Plan, and such Options will be subject to such terms and conditions,
consistent with the other provisions of this Plan, as may be determined by the Committee in its sole discretion. Incentive Stock Options
may be granted solely to eligible Employees of the Company or a Subsidiary. The Committee may designate whether an Option is to be considered
an Incentive Stock Option or a Non-Statutory Stock Option. To the extent that any Incentive Stock Option (or portion thereof) granted
under this Plan ceases for any reason to qualify as an “incentive stock option” for purposes of Section 422 of the Code, such
Incentive Stock Option (or portion thereof) will continue to be outstanding for purposes of this Plan but will thereafter be deemed to
be a Non-Statutory Stock Option. Options may be granted to an Eligible Recipient for services provided to a Subsidiary only if, with respect
to such Eligible Recipient, the underlying shares of Common Stock constitute “service recipient stock” within the meaning
of Treas. Reg. Sec. 1.409A-1(b)(5)(iii) promulgated under the Code.

 

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6.2 Award
Agreement. Each Option grant will be evidenced by an Award Agreement that will specify the exercise price of the Option, the maximum
duration of the Option, the number of shares of Common Stock to which the Option pertains, the conditions upon which an Option will become
vested and exercisable, and such other provisions as the Committee will determine which are not inconsistent with the terms of this Plan.
The Award Agreement also will specify whether the Option is intended to be an Incentive Stock Option or a Non-Statutory Stock Option.

 

6.3 Exercise
Price. The per share price to be paid by a Participant upon exercise of an Option granted pursuant to this Section 6 will be determined
by the Committee in its sole discretion at the time of the Option grant; provided, however, that such price will not be
less than one hundred percent (100%) of the Fair Market Value of one share of Common Stock on the Grant Date (one hundred and ten percent
(110%) of the Fair Market Value if, at the time the Incentive Stock Option is granted, the Participant owns, directly or indirectly, more
than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any parent or subsidiary corporation
of the Company).

 

6.4 Exercisability
and Duration. An Option will become exercisable at such times and in such installments and upon such terms and conditions as may be
determined by the Committee in its sole discretion at the time of grant, including (a) the achievement of one or more of the Performance
Goals; or that (b) the Participant remain in the continuous employment or service with the Company or a Subsidiary for a certain period;
provided, however, that no Option may be exercisable after ten (10) years from the Grant Date (five (5) years from the Grant
Date in the case of an Incentive Stock Option that is granted to a Participant who owns, directly or indirectly, more than ten percent
(10%) of the total combined voting power of all classes of stock of the Company or any parent or subsidiary corporation of the Company).
Notwithstanding the foregoing, if the exercise of an Option that is exercisable in accordance with its terms is prevented by the provisions
of Section 17 of this Plan, the Option will remain exercisable until thirty (30) days after the date such exercise first would no longer
be prevented by such provisions, but in any event no later than the expiration date of such Option.

 

6.5 Payment
of Exercise Price.

 

(a) The
total purchase price of the shares of Common Stock to be purchased upon exercise of an Option will be paid entirely in cash (including
check, bank draft or money order); provided, however, that the Committee, in its sole discretion and upon terms and conditions
established by the Committee, may allow such payments to be made, in whole or in part, by (i) tender of a Broker Exercise Notice; (ii)
by tender, either by actual delivery or attestation as to ownership, of Previously Acquired Shares; (iii) a “net exercise”
of the Option (as further described in paragraph (b), below); (iv) by a combination of such methods; or (v) any other method approved
or accepted by the Committee in its sole discretion. Notwithstanding any other provision of this Plan to the contrary, no Participant
who is a Director or an “executive officer” of the Company within the meaning of Section 13(k) of the Exchange Act will be
permitted to make payment with respect to any Awards granted under this Plan, or continue any extension of credit with respect to such
payment with a loan from the Company or a loan arranged by the Company in violation of Section 13(k) of the Exchange Act.

 

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(b) In
the case of a “net exercise” of an Option, the Company will not require a payment of the exercise price of the Option from
the Participant but will reduce the number of shares of Common Stock issued upon the exercise by the largest number of whole shares that
has a Fair Market Value on the exercise date that does not exceed the aggregate exercise price for the shares exercised under this method.
Shares of Common Stock will no longer be outstanding under an Option (and will therefore not thereafter be exercisable) following the
exercise of such Option to the extent of (i) shares used to pay the exercise price of an Option under the “net exercise,”
(ii) shares actually delivered to the Participant as a result of such exercise and (iii) any shares withheld for purposes of tax
withholding pursuant to Section 14 of this Plan.

 

(c) For
purposes of such payment, Previously Acquired Shares tendered or covered by an attestation will be valued at their Fair Market Value on
the exercise date of the Option.

 

6.6 Manner
of Exercise. An Option may be exercised by a Participant in whole or in part from time to time, subject to the conditions contained
in this Plan and in the Award Agreement evidencing such Option, by delivery in person, by facsimile or electronic transmission or through
the mail of written notice of exercise to the Company at its principal executive office (or to the Company’s designee as may be
established from time to time by the Company and communicated to Participants) and by paying in full the total exercise price for the
shares of Common Stock to be purchased in accordance with Section 6.5 of this Plan.

 

		7.	Stock Appreciation Rights.

 

7.1 Grant.
An Eligible Recipient may be granted one or more Stock Appreciation Rights under this Plan, and such Stock Appreciation Rights will be
subject to such terms and conditions, consistent with the other provisions of this Plan, as may be determined by the Committee in its
sole discretion. Stock Appreciation Rights may be granted to an Eligible Recipient for services provided to a Subsidiary only if, with
respect to such Eligible Recipient, the underlying shares of Common Stock constitute “service recipient stock” within the
meaning of Treas. Reg. Sec. 1.409A-1(b)(5)(iii) promulgated under the Code.

 

7.2 Award
Agreement. Each Stock Appreciation Right will be evidenced by an Award Agreement that will specify the grant price of the Stock Appreciation
Right, the term of the Stock Appreciation Right, and such other provisions as the Committee will determine which are not inconsistent
with the terms of this Plan.

 

7.3 Grant
Price. The grant price of a Stock Appreciation Right will be determined by the Committee, in its discretion, at the Grant Date; provided,
however, that such price may not be less than one hundred percent (100%) of the Fair Market Value of one share of Common Stock
on the Grant Date.

 

7.4 Exercisability
and Duration. A Stock Appreciation Right will become exercisable at such times and in such installments as may be determined by the
Committee in its sole discretion at the time of grant; provided, however, that no Stock Appreciation Right may be exercisable
after ten (10) years from its Grant Date. Notwithstanding the foregoing, if the exercise of a Stock Appreciation Right that is exercisable
in accordance with its terms is prevented by the provisions of Section 17 of this Plan, the Stock Appreciation Right will remain exercisable
until thirty (30) days after the date such exercise first would no longer be prevented by such provisions, but in any event no later than
the expiration date of such Stock Appreciation Right.

 

7.5 Manner
of Exercise. A Stock Appreciation Right will be exercised by giving notice in the same manner as for Options, as set forth in Section
6.6 of this Plan, subject to any other terms and conditions consistent with the other provisions of this Plan as may be determined by
the Committee in its sole discretion.

 

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7.6 Settlement.
Upon the exercise of a Stock Appreciation Right, a Participant will be entitled to receive payment from the Company in an amount determined
by multiplying:

 

(a) The
excess of the Fair Market Value of a share of Common Stock on the date of exercise over the per share grant price; by

 

(b) The
number of shares of Common Stock with respect to which the Stock Appreciation Right is exercised.

 

7.7 Form
of Payment. Payment, if any, with respect to a Stock Appreciation Right settled in accordance with Section 7.6 of this Plan will be
made in accordance with the terms of the applicable Award Agreement, in cash, shares of Common Stock or a combination thereof, as the
Committee determines.

 

		8.	Restricted Stock Awards, Restricted Stock Units and Deferred Stock Units.

 

8.1 Grant.
An Eligible Recipient may be granted one or more Restricted Stock Awards, Restricted Stock Units or Deferred Stock Units under this Plan,
and such Awards will be subject to such terms and conditions, consistent with the other provisions of this Plan, as may be determined
by the Committee in its sole discretion. Restricted Stock Units will be similar to Restricted Stock Awards except that no shares of Common
Stock are actually awarded to the Participant on the Grant Date of the Restricted Stock Units. Restricted Stock Units and Deferred Stock
Units will be denominated in shares of Common Stock but paid in cash, shares of Common Stock or a combination of cash and shares of Common
Stock as the Committee, in its sole discretion, will determine, and as provided in the Award Agreement.

 

8.2 Award
Agreement. Each Restricted Stock Award, Restricted Stock Unit or Deferred Stock Unit grant will be evidenced by an Award Agreement
that will specify the type of Award, the period(s) of restriction, the number of shares of restricted Common Stock, or the number of Restricted
Stock Units or Deferred Stock Units granted, and such other provisions as the Committee will determine that are not inconsistent with
the terms of this Plan.

 

8.3 Conditions
and Restrictions. Subject to the terms and conditions of this Plan, the Committee will impose such conditions or restrictions on a
Restricted Stock Award, Restricted Stock Units or Deferred Stock Units granted pursuant to this Plan as it may deem advisable including
a requirement that Participants pay a stipulated purchase price for each share of Common Stock underlying a Restricted Stock Award, Restricted
Stock Unit or Deferred Stock Unit, restrictions based upon the achievement of specific Performance Goals, time-based restrictions on vesting
following the attainment of the Performance Goals, time-based restrictions, restrictions under Applicable Laws or holding requirements
or sale restrictions placed on the shares of Common Stock by the Company upon vesting of such Restricted Stock Award, Restricted Stock
Units or Deferred Stock Units.

 

8.4 Voting
Rights. Unless otherwise determined by the Committee and set forth in a Participant’s Award Agreement, to the extent permitted
or required by Applicable Law, as determined by the Committee, Participants holding a Restricted Stock Award granted hereunder will be
granted the right to exercise full voting rights with respect to the shares of Common Stock underlying such Restricted Stock Award during
the Period of Restriction. A Participant will have no voting rights with respect to any Restricted Stock Units or Deferred Stock Units
granted hereunder.

 

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8.5 Dividend
Rights.

 

(a) Unless
otherwise determined by the Committee and set forth in a Participant’s Award Agreement, to the extent permitted or required by Applicable
Law, as determined by the Committee, Participants holding a Restricted Stock Award granted hereunder will have the same dividend rights
as the Company’s other stockholders. Notwithstanding the foregoing any such dividends as to a Restricted Stock Award that is subject
to vesting requirements will be subject to forfeiture and termination to the same extent as the Restricted Stock Award to which such dividends
relate and the Award Agreement may require that any cash dividends be reinvested in additional shares of Common Stock subject to the Restricted
Stock Award and subject to the same conditions and restrictions as the Restricted Stock Award with respect to which the dividends were
paid. In no event will dividends with respect to Restricted Stock Awards that are subject to vesting be paid or distributed until the
vesting provisions of such Restricted Stock Award lapse.

 

(b) Unless
otherwise determined by the Committee and set forth in a Participant’s Award Agreement, to the extent permitted or required by Applicable
Law, as determined by the Committee, prior to settlement or forfeiture, any Restricted Stock Units or Deferred Stock Unit awarded under
this Plan may, at the Committee’s discretion, carry with it a right to Dividend Equivalents. Such right entitles the Participant
to be credited with an amount equal to all cash dividends paid on one share of Common Stock while the Restricted Stock Unit or Deferred
Stock Unit is outstanding. Dividend Equivalents may be converted into additional Restricted Stock Units or Deferred Stock Units and may
(and will, to the extent required below) be made subject to the same conditions and restrictions as the Restricted Stock Units or Deferred
Stock Units to which they attach. Settlement of Dividend Equivalents may be made in the form of cash, in the form of shares of Common
Stock, or in a combination of both. Dividend Equivalents as to Restricted Stock Units or Deferred Stock Units will be subject to forfeiture
and termination to the same extent as the corresponding Restricted Stock Units or Deferred Stock Units as to which the Dividend Equivalents
relate. In no event will Participants holding Restricted Stock Units or Deferred Stock Units be entitled to receive any Dividend Equivalents
on such Restricted Stock Units or Deferred Stock Units until the vesting provisions of such Restricted Stock Units or Deferred Stock Units
lapse.

 

8.6 Enforcement
of Restrictions. To enforce the restrictions referred to in this Section 8, the Committee may place a legend on the stock certificates
representing Restricted Stock Awards referring to such restrictions and may require the Participant, until the restrictions have lapsed,
to keep the stock certificates, together with duly endorsed stock powers, in the custody of the Company or its transfer agent, or to maintain
evidence of stock ownership, together with duly endorsed stock powers, in a certificateless book entry stock account with the Company’s
transfer agent. Alternatively, Restricted Stock Awards may be held in non-certificated form pursuant to such terms and conditions as the
Company may establish with its registrar and transfer agent or any third-party administrator designated by the Company to hold Restricted
Stock Awards on behalf of Participants.

 

8.7 Lapse
of Restrictions; Settlement. Except as otherwise provided in this Plan, including without limitation this Section 8 and 16.4 of this
Plan, shares of Common Stock underlying a Restricted Stock Award will become freely transferable by the Participant after all conditions
and restrictions applicable to such shares have been satisfied or lapse (including satisfaction of any applicable tax withholding obligations).
Upon the vesting of a Restricted Stock Unit, the Restricted Stock Unit will be settled, subject to the terms and conditions of the applicable
Award Agreement, (a) in cash, based upon the Fair Market Value of the vested underlying shares of Common Stock, (b) in shares of Common
Stock or (c) a combination thereof, as provided in the Award Agreement, except to the extent that a Participant has properly elected to
defer income that may be attributable to a Restricted Stock Unit under a Company deferred compensation plan or arrangement.

 

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8.8 Section
83(b) Election for Restricted Stock Award. If a Participant makes an election pursuant to Section 83(b) of the Code with respect to
a Restricted Stock Award, the Participant must file, within thirty (30) days following the Grant Date of the Restricted Stock Award, a
copy of such election with the Company and with the Internal Revenue Service, in accordance with the regulations under Section 83 of the
Code. The Committee may provide in the Award Agreement that the Restricted Stock Award is conditioned upon the Participant’s making
or refraining from making an election with respect to the award under Section 83(b) of the Code.

 

		9.	Performance Awards.

 

9.1 Grant.
An Eligible Recipient may be granted one or more Performance Awards under this Plan, and such Awards will be subject to such terms and
conditions, consistent with the other provisions of this Plan, as may be determined by the Committee in its sole discretion, including
the achievement of one or more Performance Goals.

 

9.2 Award
Agreement. Each Performance Award will be evidenced by an Award Agreement that will specify the amount of cash, shares of Common Stock,
other Awards, or combination of both to be received by the Participant upon payout of the Performance Award, any Performance Goals upon
which the Performance Award is subject, any Performance Period during which any Performance Goals must be achieved and such other provisions
as the Committee will determine which are not inconsistent with the terms of this Plan.

 

9.3 Vesting.
Subject to the terms of this Plan, the Committee may impose such restrictions or conditions, not inconsistent with the provisions of this
Plan, to the vesting of such Performance Awards as it deems appropriate, including the achievement of one or more of the Performance Goals.

 

9.4 Earning
of Performance Award Payment. Subject to the terms of this Plan and the Award Agreement, after the applicable Performance Period has
ended, the holder of Performance Awards will be entitled to receive payout on the value and number of Performance Awards earned by the
Participant over the Performance Period, to be determined as a function of the extent to which the corresponding Performance Goals have
been achieved and such other restrictions or conditions imposed on the vesting and payout of the Performance Awards has been satisfied.

 

9.5 Form
and Timing of Performance Award Payment. Subject to the terms of this Plan, after the applicable Performance Period has ended, the
holder of Performance Awards will be entitled to receive payment on the value and number of Performance Awards earned by the Participant
over the Performance Period, to be determined as a function of the extent to which the corresponding Performance Goals have been achieved.
Payment of earned Performance Awards will be as determined by the Committee and as evidenced in the Award Agreement. Subject to the terms
of this Plan, the Committee, in its sole discretion, may pay earned Performance Awards in the form of cash, in shares of Common Stock
or other Awards (or in a combination thereof) equal to the value of the earned Performance Awards at the close of the applicable Performance
Period. Payment of any Performance Award will be made as soon as practicable after the Committee has determined the extent to which the
applicable Performance Goals have been achieved and not later than the fifteenth (15th) day of the third (3rd) month
immediately following the later of the end of the Company’s fiscal year in which the Performance Period ends and any additional
vesting restrictions are satisfied or the end of the calendar year in which the Performance Period ends and any additional vesting restrictions
are satisfied, except to the extent that a Participant has properly elected to defer payment that may be attributable to a Performance
Award under a Company deferred compensation plan or arrangement. The determination of the Committee with respect to the form and time
of payment of Performance Awards will be set forth in the Award Agreement pertaining to the grant of the Performance Award. Any shares
of Common Stock or other Awards issued in payment of earned Performance Awards may be granted subject to any restrictions deemed appropriate
by the Committee, including that the Participant remain in the continuous employment or service with the Company or a Subsidiary for a
certain period.

 

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9.6 Evaluation
of Performance. The Committee may provide in any such Award Agreement including Performance Goals that any evaluation of performance
may include or exclude any of the following events that occurs during a Performance Period: (a) items related to a change in accounting
principles; (b) items relating to financing activities; (c) expenses for restructuring or productivity initiatives; (d) other non-operating
items; (e) items related to acquisitions; (f) items attributable to the business operations of any entity acquired by the Company during
the Performance Period; (g) items related to the disposal of a business or segment of a business; (h) items related to discontinued operations
that do not qualify as a segment of a business under applicable accounting standards; (i) items attributable to any stock dividend, stock
split, combination or exchange of stock occurring during the Performance Period; (j) any other items of significant income or expense
which are determined to be appropriate adjustments; (k) items relating to unusual or extraordinary corporate transactions, events or developments;
(l) items related to amortization of acquired intangible assets; (m) items that are outside the scope of the Company’s core, on-going
business activities; (n) items related to acquired in-process research and development; (o) items relating to changes in tax laws; (p) items
relating to major licensing or partnership arrangements; (q) items relating to asset impairment charges; (r) items relating to gains or
losses for litigation, arbitration and contractual settlements; (s) foreign exchange gains and losses; or (t) items relating to any other
unusual or nonrecurring events or changes in applicable laws, accounting principles or business conditions.

 

9.7 Adjustment
of Performance Goals, Performance Periods or other Vesting Criteria. The Committee may amend or modify the vesting criteria (including
any Performance Goals or Performance Periods) of any outstanding Awards based in whole or in part on the financial performance of the
Company (or any Subsidiary or division, business unit or other sub-unit thereof) in recognition of unusual or nonrecurring events (including
the events described in Sections 9.6 or 4.4(a) of this Plan) affecting the Company or the financial statements of the Company or of changes
in applicable laws, regulations or accounting principles, whenever the Committee determines that such adjustments are appropriate in order
to prevent unintended dilution or enlargement of the benefits or potential benefits intended to be made available under this Plan. The
determination of the Committee as to the foregoing adjustments, if any, will be final, conclusive and binding on Participants under this
Plan.

 

9.8 Dividend
Rights. Participants holding Performance Awards granted under this Plan will not receive any cash dividends or Dividend Equivalents
based on the dividends declared on shares of Common Stock that are subject to such Performance Awards during the period between the date
that such Performance Awards are granted and the date such Performance Awards are settled.

 

		10.	Non-Employee Director Awards.

 

10.1 Automatic
and Non-Discretionary Awards to Non-Employee Directors. Subject to such terms and conditions, consistent with the other provisions
of this Plan, the Committee at any time and from time to time may approve resolutions providing for the automatic grant to Non-Employee
Directors of Non-Employee Director Awards granted under this Plan and may grant to Non-Employee Directors such discretionary Non-Employee
Director Awards on such terms and conditions, consistent with the other provisions of this Plan, as may be determined by the Committee
in its sole discretion, and set forth in an applicable Award Agreement.

 

10.2 Deferral
of Award Payment; Election to Receive Award in Lieu of Retainers. The Committee may permit Non-Employee Directors the opportunity
to defer the payment of an Award pursuant to such terms and conditions as the Committee may prescribe from time to time. In addition,
the Committee may permit Non-Employee Directors to elect to receive, pursuant to the procedures established by the Board or a committee
of the Board, all or any portion of their annual retainers, meeting fees, or other fees in Restricted Stock, Restricted Stock Units, Deferred
Stock Units or other Stock-Based Awards as contemplated by this Plan in lieu of cash.

 

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		11.	Other Stock-Based Awards.

 

11.1 Other
Stock-Based Awards. Subject to such terms and conditions, consistent with the other provisions of this Plan, as may be determined
by the Committee in its sole discretion, the Committee may grant Other Stock-Based Awards to Eligible Recipients not otherwise described
by the terms of this Plan (including the grant or offer for sale of unrestricted shares of Common Stock) in such amounts and subject to
such terms and conditions as the Committee will determine. Such Awards may involve the transfer of actual shares of Common Stock to Participants
as a bonus or in lieu of obligations to pay cash or deliver other property under this Plan or under other plans or compensatory arrangements,
or payment in cash or otherwise of amounts based on the value of shares of Common Stock, and may include Awards designed to comply with
or take advantage of the applicable local laws of jurisdictions other than the United States.

 

11.2 Value
of Other Stock-Based Awards. Each Other Stock-Based Award will be expressed in terms of shares of Common Stock or units based on shares
of Common Stock, as determined by the Committee. The Committee may establish Performance Goals in its discretion for any Other Stock-Based
Award. If the Committee exercises its discretion to establish Performance Goals for any such Awards, the number or value of Other Stock-Based
Awards that will be paid out to the Participant will depend on the extent to which the Performance Goals are met.

 

11.3 Payment
of Other Stock-Based Awards. Payment, if any, with respect to an Other Stock-Based Award will be made in accordance with the terms
of the Award, in cash or shares of Common Stock for any Other Stock-Based Award, as the Committee determines, except to the extent that
a Participant has properly elected to defer payment that may be attributable to an Other Stock-Based Award under a Company deferred compensation
plan or arrangement.

 

		12.	Dividend Equivalents.

 

Subject to the provisions
of this Plan and any Award Agreement, any Participant selected by the Committee may be granted Dividend Equivalents based on the dividends
declared on shares of Common Stock that are subject to any Award (including any Award that has been deferred), to be credited as of dividend
payment dates, during the period between the date the Award is granted and the date the Award is exercised, vests, settles, is paid or
expires, as determined by the Committee. Such Dividend Equivalents will be converted to cash or additional shares of Common Stock by such
formula and at such time and subject to such limitations as may be determined by the Committee and the Committee may provide that such
amounts (if any) will be deemed to have been reinvested in additional shares of Common Stock or otherwise reinvested. Notwithstanding
the foregoing, the Committee may not grant Dividend Equivalents based on the dividends declared on shares of Common Stock that are subject
to an Option or Stock Appreciation Right or unvested Performance Awards; and further, no dividend or Dividend Equivalents will be paid
out with respect to any unvested Awards.

 

		13.	Effect of Termination of Employment or Other Service.

 

13.1 Termination
Due to Cause. Unless otherwise expressly provided by the Committee in its sole discretion in an Award Agreement or the terms of an
Individual Agreement between the Participant and the Company or one of its Subsidiaries or Affiliates or a plan or policy of the Company
applicable to the Participant specifically provides otherwise, and subject to Sections 13.4 and 13.5 of this Plan, in the event a Participant’s
employment or other service with the Company and all Subsidiaries is terminated for Cause:

 

(a) All
outstanding Options and Stock Appreciation Rights held by the Participant as of the effective date of such termination will be immediately
terminated and forfeited;

 

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(b) All
outstanding but unvested Restricted Stock Awards, Restricted Stock Units, Performance Awards and Other Stock-Based Awards held by the
Participant as of the effective date of such termination will be terminated and forfeited; and

 

(c) All
other outstanding Awards to the extent not vested will be immediately terminated and forfeited.

 

13.2 Termination
Due to Death, Disability or Retirement. Unless otherwise expressly provided by the Committee in its sole discretion in an Award Agreement
between the Participant and the Company or one of its Subsidiaries or Affiliates or the terms of an Individual Agreement or a plan or
policy of the Company applicable to the Participant specifically provides otherwise, and subject to Sections 13.4, 13.5 and 15 of this
Plan, in the event a Participant’s employment or other service with the Company and all Subsidiaries is terminated by reason of
death or Disability of a Participant, or in the case of a Participant that is an Employee, Retirement:

 

(a) All
outstanding Options (excluding Non-Employee Director Options in the case of Retirement) and Stock Appreciation Rights held by the Participant
as of the effective date of such termination or Retirement will, to the extent exercisable as of the date of such termination or Retirement,
remain exercisable for a period of one (1) year after the date of such termination or Retirement (but in no event after the expiration
date of any such Option or Stock Appreciation Right) and Options and Stock Appreciation Rights not exercisable as of the date of such
termination or Retirement will be terminated and forfeited;

 

(b) All
outstanding unvested Restricted Stock Awards held by the Participant as of the effective date of such termination or Retirement will be
terminated and forfeited; and

 

(c) All
outstanding unvested Restricted Stock Units, Performance Awards, and Other Stock-Based Awards held by the Participant as of the effective
date of such termination or Retirement will be terminated and forfeited; provided, however, that with respect to any such
Awards the vesting of which is based on the achievement of Performance Goals, if a Participant’s employment or other service with
the Company or any Subsidiary, as the case may be, is terminated prior to the end of the Performance Period of such Award, but after the
conclusion of a portion of the Performance Period (but in no event less than one year), the Committee may, in its sole discretion, cause
shares of Common Stock to be delivered or payment made (except to the extent that a Participant has properly elected to defer income that
may be attributable to such Award under a Company deferred compensation plan or arrangement) with respect to the Participant’s Award,
but only if otherwise earned for the entire Performance Period and only with respect to the portion of the applicable Performance Period
completed at the date of such event, with proration based on the number of months or years that the Participant was employed or performed
services during the Performance Period. The Committee will consider the provisions of Section 13.5 of this Plan and will have the discretion
to consider any other fact or circumstance in making its decision as to whether to deliver such shares of Common Stock or other payment,
including whether the Participant again becomes employed.

 

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13.3 Termination
for Reasons Other than Death, Disability or Retirement. Unless otherwise expressly provided by the Committee in its sole discretion
in an Award Agreement or the terms of an Individual Agreement between the Participant and the Company or one of its Subsidiaries or Affiliates
or a plan or policy of the Company applicable to the Participant specifically provides otherwise, and subject to Sections 13.4, 13.5 and
15 of this Plan, in the event a Participant’s employment or other service with the Company and all Subsidiaries is terminated for
any reason other than for Cause or death or Disability of a Participant, or in the case of a Participant that is an Employee, Retirement:

 

(a) All
outstanding Options (including Non-Employee Director Options) and Stock Appreciation Rights held by the Participant as of the effective
date of such termination will, to the extent exercisable as of such termination, remain exercisable for a period of three (3) months after
such termination (but in no event after the expiration date of any such Option or Stock Appreciation Right) and Options and Stock Appreciation
Rights not exercisable as of such termination will be terminated and forfeited. If the Participant dies within the three (3) month period
referred to in the preceding sentence, the Option or Stock Appreciation Right may be exercised by those entitled to do so under the Participant’s
will or by the laws of descent and distribution within a period of one (1) year following the Participant’s death (but in no event
after the expiration date of any such Option or Stock Appreciation Right).

 

(b) All
outstanding unvested Restricted Stock Awards held by the Participant as of the effective date of such termination will be terminated and
forfeited;

 

(c) All
outstanding unvested Restricted Stock Units, Performance Awards, and Other Stock-Based Awards held by the Participant as of the effective
date of such termination will be terminated and forfeited; provided, however, that with respect to any such Awards the vesting
of which is based on the achievement of Performance Goals, if a Participant’s employment or other service with the Company or any
Subsidiary, as the case may be, is terminated by the Company without Cause prior to the end of the Performance Period of such Award, but
after the conclusion of a portion of the Performance Period (but in no event less than one year), the Committee may, in its sole discretion,
cause Shares to be delivered or payment made (except to the extent that a Participant has properly elected to defer income that may be
attributable to such Award under a Company deferred compensation plan or arrangement) with respect to the Participant’s Award, but
only if otherwise earned for the entire Performance Period and only with respect to the portion of the applicable Performance Period completed
at the date of such event, with proration based on the number of months or years that the Participant was employed or performed services
during the Performance Period.

 

13.4 Modification
of Rights upon Termination. Notwithstanding the other provisions of this Section 13, upon a Participant’s termination of employment
or other service with the Company or any Subsidiary, as the case may be, the Committee may, in its sole discretion (which may be exercised
at any time on or after the Grant Date, including following such termination) cause Options or Stock Appreciation Rights (or any part
thereof) held by such Participant as of the effective date of such termination to terminate, become or continue to become exercisable
or remain exercisable following such termination of employment or service, and Restricted Stock, Restricted Stock Units, Deferred Stock
Units, Performance Awards, Non-Employee Director Awards, and Other Stock-Based Awards held by such Participant as of the effective date
of such termination to terminate, vest or become free of restrictions and conditions to payment, as the case may be, following such termination
of employment or service, in each case in the manner determined by the Committee; provided, however, that (a) no Option
or Stock Appreciation Right may remain exercisable beyond its expiration date; and (b) any such action by the Committee adversely affecting
any outstanding Award will not be effective without the consent of the affected Participant (subject to the right of the Committee to
take whatever action it deems appropriate under Section 4.4, 13.5, 15 or 19 of this Plan).

 

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13.5 Additional
Forfeiture Events.

 

(a) Effect
of Actions Constituting Cause or Adverse Action. Notwithstanding anything in this Plan to the contrary and in addition to the other
rights of the Committee under this Plan, including this Section 13.5, if a Participant is determined by the Committee, acting in its sole
discretion, to have taken any action that would constitute Cause or an Adverse Action during or within one (1) year after the termination
of employment or other service with the Company or a Subsidiary, irrespective of whether such action or the Committee’s determination
occurs before or after termination of such Participant’s employment or other service with the Company or any Subsidiary and irrespective
of whether or not the Participant was terminated as a result of such Cause or Adverse Action, (i) all rights of the Participant under
this Plan and any Award Agreements evidencing an Award then held by the Participant will terminate and be forfeited without notice of
any kind, and (ii) the Committee in its sole discretion will have the authority to rescind the exercise, vesting or issuance of, or payment
in respect of, any Awards of the Participant that were exercised, vested or issued, or as to which such payment was made, and to require
the Participant to pay to the Company, within ten (10) days of receipt from the Company of notice of such rescission, any amount received
or the amount of any gain realized as a result of such rescinded exercise, vesting, issuance or payment (including any dividends paid
or other distributions made with respect to any shares of Common Stock subject to any Award). The Company may defer the exercise of any
Option or Stock Appreciation Right for a period of up to six (6) months after receipt of the Participant’s written notice of exercise
or the issuance of share certificates upon the vesting of any Award for a period of up to six (6) months after the date of such vesting
in order for the Committee to make any determination as to the existence of Cause or an Adverse Action. The Company will be entitled to
withhold and deduct from future wages of the Participant (or from other amounts that may be due and owing to the Participant from the
Company or a Subsidiary) or make other arrangements for the collection of all amounts necessary to satisfy such payment obligations. Unless
otherwise provided by the Committee in an applicable Award Agreement, this Section 13.5(a) will not apply to any Participant following
a Change in Control.

 

(b) Forfeiture
or Clawback of Awards Under Applicable Law and Company Policy. If the Company is required to prepare an accounting restatement due
to the material noncompliance of the Company, as a result of misconduct, with any financial reporting requirement under the securities
laws, then any Participant who is one of the individuals subject to automatic forfeiture under Section 304 of the Sarbanes-Oxley Act of
2002 will reimburse the Company for the amount of any Award received by such individual under this Plan during the 12-month period following
the first public issuance or filing with the Securities and Exchange Commission, as the case may be, of the financial document embodying
such financial reporting requirement. The Company also may seek to recover any Award made as required by the provisions of the Dodd-Frank
Wall Street Reform and Consumer Protection Act or any other clawback, forfeiture or recoupment provision required by Applicable Law or
under the requirements of any stock exchange or market upon which the shares of Common Stock are then listed or traded. In addition, all
Awards under this Plan will be subject to forfeiture or other penalties pursuant to any clawback or forfeiture policy of the Company,
as in effect from time to time, and such forfeiture and/or penalty conditions or provisions as determined by the Committee and set forth
in the applicable Award Agreement.

 

		14.	Payment of Withholding Taxes.

 

14.1 General
Rules. The Company is entitled to (a) withhold and deduct from future wages of the Participant (or from other amounts that may be
due and owing to the Participant from the Company or a Subsidiary), or make other arrangements for the collection of, all amounts the
Company reasonably determines are necessary to satisfy any and all federal, foreign, state and local withholding and employment related
tax requirements attributable to an Award, including the grant, exercise, vesting or settlement of, or payment of dividends with respect
to, an Award or a disqualifying disposition of stock received upon exercise of an Incentive Stock Option, or (b) require the Participant
promptly to remit the amount of such withholding to the Company before taking any action, including issuing any shares of Common Stock,
with respect to an Award. When withholding shares of Common Stock for taxes is effected under this Plan, it will be withheld only up to
an amount based on the maximum statutory tax rates in the Participant’s applicable tax jurisdiction or such other rate that will
not trigger a negative accounting impact on the Company.

 

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14.2 Special
Rules. The Committee may, in its sole discretion and upon terms and conditions established by the Committee, permit or require a Participant
to satisfy, in whole or in part, any withholding or employment related tax obligation described in Section 14.1 of this Plan by withholding
shares of Common Stock underlying an Award, by electing to tender, or by attestation as to ownership of, Previously Acquired Shares, by
delivery of a Broker Exercise Notice or a combination of such methods. For purposes of satisfying a Participant’s withholding or
employment-related tax obligation, shares of Common Stock withheld by the Company or Previously Acquired Shares tendered or covered by
an attestation will be valued at their Fair Market Value on the Tax Date.

 

		15.	Change in Control.

 

15.1 Definition
of Change in Control. Unless otherwise provided in an Award Agreement or Individual Agreement between the Participant and the Company
or one of its Subsidiaries or Affiliates, a “Change in Control” will mean the occurrence of any of the following:

 

(a) The
acquisition, other than from the Company, by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the
Exchange Act) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of fifty percent (50%) or
more of either the then outstanding shares of Common Stock of the Company or the combined voting power of the then outstanding voting
securities of the Company entitled to vote generally in the election of directors, but excluding, for this purpose, any such acquisition
by the Company or any of its Subsidiaries, or any employee benefit plan (or related trust) of the Company or its Subsidiaries, or any
entity with respect to which, following such acquisition, more than fifty percent (50%) of, respectively, the then outstanding equity
of such entity and the combined voting power of the then outstanding voting equity of such entity entitled to vote generally in the election
of all or substantially all of the members of such entity's governing body is then beneficially owned, directly or indirectly, by the
individuals and entities who were the beneficial owners, respectively, of the Common Stock and voting securities of the Company immediately
prior to such acquisition in substantially the same proportion as their ownership, immediately prior to such acquisition, of the then
outstanding shares of Common Stock of the Company or the combined voting power of the then outstanding voting securities of the Company
entitled to vote generally in the election of directors, as the case may be; or

 

(b) The
consummation of a reorganization, merger or consolidation of the Company, in each case, with respect to which all or substantially all
of the individuals and entities who were the respective beneficial owners of the Common Stock and voting securities of the Company immediately
prior to such reorganization, merger or consolidation do not, following such reorganization, merger or consolidation, beneficially own,
directly or indirectly, more than fifty percent (50%) of, respectively, the then outstanding shares of Common Stock and the combined voting
power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation
resulting from such reorganization, merger or consolidation; or

 

(c) a
complete liquidation or dissolution of the Company or the sale or other disposition of all or substantially all of the assets of the Company.

 

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15.2 Effect
of Change in Control. Subject to the terms of the applicable Award Agreement or an Individual Agreement, in the event of a Change
in Control, the Committee (as constituted prior to such Change in Control) may, in its discretion:

 

(a) require
that shares of stock of the corporation resulting from such Change in Control, or a parent corporation thereof, be substituted for some
or all of the shares of Common Stock subject to an outstanding Award, with an appropriate and equitable adjustment to such Award as shall
be determined by the Board in accordance with Section 4.4;

 

(b) provide
that (i) some or all outstanding Options shall become exercisable in full or in part, either immediately or upon a subsequent termination
of employment, (ii) the restrictions or vesting applicable to some or all outstanding Restricted Stock Awards and Restricted Stock Units
shall lapse in full or in part, either immediately or upon a subsequent termination of employment, (iii) the Performance Period applicable
to some or all outstanding Awards shall lapse in full or in part, and/or (iv) the Performance Goals applicable to some or all outstanding
Awards shall be deemed to be satisfied at the target or any other level; and/or

 

(c) require
outstanding Awards, in whole or in part, to be surrendered to the Company by the holder, and to be immediately cancelled by the Company,
and to provide for the holder to receive (A) a cash payment in an amount determined pursuant to Section 15.3 below; (B) shares of capital
stock of the corporation resulting from or succeeding to the business of the Company pursuant to such Change in Control, or a parent corporation
thereof, having a fair market value not less than the amount determined under clause (A) above; or (C) a combination of the payment of
cash pursuant to clause (A) above and the issuance of shares pursuant to clause (B) above.

 

15.3 Alternative
Treatment of Incentive Awards. In connection with a Change in Control, the Committee in its sole discretion, either in an Award Agreement
at the time of grant of an Award or at any time after the grant of such an Award, in lieu of providing a substitute award to a Participant
pursuant to Section 15.2(a), may determine that any or all outstanding Awards granted under the Plan, whether or not exercisable or vested,
as the case may be, will be canceled and terminated and that in connection with such cancellation and termination the holder of such Award
will receive for each share of Common Stock subject to such Award a cash payment (or the delivery of shares of stock, other securities
or a combination of cash, stock and securities with a fair market value (as determined by the Committee in good faith) equivalent to such
cash payment) equal to the difference, if any, between the consideration received by stockholders of the Company in respect of a share
of Common Stock in connection with such Change in Control and the purchase price per share, if any, under the Award, multiplied by the
number of shares of Common Stock subject to such Award (or in which such Award is denominated); provided, however, that
if such product is zero ($0) or less or to the extent that the Award is not then exercisable, the Award may be canceled and terminated
without payment therefor. If any portion of the consideration pursuant to a Change in Control may be received by holders of shares of
Common Stock on a contingent or delayed basis, the Committee may, in its sole discretion, determine the fair market value per share of
such consideration as of the time of the Change in Control on the basis of the Committee’s good faith estimate of the present value
of the probable future payment of such consideration. Notwithstanding the foregoing, any shares of Common Stock issued pursuant to an
Award that immediately prior to the effectiveness of the Change in Control are subject to no further restrictions pursuant to the Plan
or an Award Agreement (other than pursuant to the securities laws) will be deemed to be outstanding shares of Common Stock and receive
the same consideration as other outstanding shares of Common Stock in connection with the Change in Control.

 

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15.4 Limitation
on Change in Control Payments. Notwithstanding anything in this Section 15 to the contrary, if, with respect to a Participant, the
acceleration of the vesting of an Award or the payment of cash in exchange for all or part of a Stock-Based Award (which acceleration
or payment could be deemed a “payment” within the meaning of Section 280G(b)(2) of the Code), together with any other “payments”
that such Participant has the right to receive from the Company or any corporation that is a member of an “affiliated group”
(as defined in Section 1504(a) of the Code without regard to Section 1504(b) of the Code) of which the Company is a member, would constitute
a “parachute payment” (as defined in Section 280G(b)(2) of the Code), then the “payments” to such Participant
pursuant to Section 15.2 or Section 15.3 of this Plan will be reduced (or acceleration of vesting eliminated) to the largest amount as
will result in no portion of such “payments” being subject to the excise tax imposed by Section 4999 of the Code; provided,
however, that such reduction will be made only if the aggregate amount of the payments after such reduction exceeds the difference
between (a) the amount of such payments absent such reduction minus (b) the aggregate amount of the excise tax imposed under Section
4999 of the Code attributable to any such excess parachute payments; and provided, further that such payments will be reduced (or
acceleration of vesting eliminated) by first eliminating vesting of Options with an exercise price above the then Fair Market Value of
a share of Common Stock that have a positive value for purposes of Section 280G of the Code, followed by reducing or eliminating payments
or benefits pro rata among Awards that are deferred compensation subject to Section 409A of the Code, and, if a further reduction is necessary,
by reducing or eliminating payments or benefits pro rata among Awards that are not subject to Section 409A of the Code. Notwithstanding
the foregoing sentence, if a Participant is subject to a separate agreement with the Company or a Subsidiary that expressly addresses
the potential application of Section 280G or 4999 of the Code, then this Section 15.4 will not apply and any “payments” to
a Participant pursuant to Section 15 of this Plan will be treated as “payments” arising under such separate agreement; provided,
however, such separate agreement may not modify the time or form of payment under any Award that constitutes deferred compensation
subject to Section 409A of the Code if the modification would cause such Award to become subject to the adverse tax consequences specified
in Section 409A of the Code.

 

15.5 Exceptions.
Notwithstanding anything in this Section 15 to the contrary, individual Award Agreements or Individual Agreements between a Participant
and the Company or one of its Subsidiaries or Affiliates may contain provisions with respect to vesting, payment or treatment of Awards
upon the occurrence of a Change in Control, and the terms of any such Award Agreement or Individual Agreement will govern to the extent
of any inconsistency with the terms of this Section 15. The Committee will not be obligated to treat all Awards subject to this Section
15 in the same manner. The timing of any payment under this Section 15 may be governed by any election to defer receipt of a payment made
under a Company deferred compensation plan or arrangement.

 

		16.	Rights of Eligible Recipients and Participants; Transferability.

 

16.1 Employment.
Nothing in this Plan or an Award Agreement will interfere with or limit in any way the right of the Company or any Subsidiary to terminate
the employment or service of any Eligible Recipient or Participant at any time, nor confer upon any Eligible Recipient or Participant
any right to continue employment or other service with the Company or any Subsidiary.

 

16.2 No
Rights to Awards. No Participant or Eligible Recipient will have any claim to be granted any Award under this Plan.

 

16.3 Rights
as a Stockholder. Except as otherwise provided in the Award Agreement, a Participant will have no rights as a stockholder with respect
to shares of Common Stock covered by any Stock-Based Award unless and until the Participant becomes the holder of record of such shares
of Common Stock and then subject to any restrictions or limitations as provided herein or in the Award Agreement.

 

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16.4 Restrictions
on Transfer.

 

(a) Except
pursuant to testamentary will or the laws of descent and distribution or as otherwise expressly permitted by subsections (b) and (c) below,
no right or interest of any Participant in an Award prior to the exercise (in the case of Options or Stock Appreciation Rights) or vesting,
issuance or settlement of such Award will be assignable or transferable, or subjected to any lien, during the lifetime of the Participant,
either voluntarily or involuntarily, directly or indirectly, by operation of law or otherwise.

 

(b) A
Participant will be entitled to designate a beneficiary to receive an Award upon such Participant’s death, and in the event of such
Participant’s death, payment of any amounts due under this Plan will be made to, and exercise of any Options or Stock Appreciation
Rights (to the extent permitted pursuant to Section 13 of this Plan) may be made by, such beneficiary. If a deceased Participant has failed
to designate a beneficiary, or if a beneficiary designated by the Participant fails to survive the Participant, payment of any amounts
due under this Plan will be made to, and exercise of any Options or Stock Appreciation Rights (to the extent permitted pursuant to Section
13 of this Plan) may be made by, the Participant’s legal representatives, heirs and legatees. If a deceased Participant has designated
a beneficiary and such beneficiary survives the Participant but dies before complete payment of all amounts due under this Plan or exercise
of all exercisable Options or Stock Appreciation Rights, then such payments will be made to, and the exercise of such Options or Stock
Appreciation Rights may be made by, the legal representatives, heirs and legatees of the beneficiary.

 

(c) Upon
a Participant’s request, the Committee may, in its sole discretion, permit a transfer of all or a portion of a Non-Statutory Stock
Option, other than for value, to such Participant’s child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former
spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, any person
sharing such Participant’s household (other than a tenant or employee), a trust in which any of the foregoing have more than fifty
percent (50%) of the beneficial interests, a foundation in which any of the foregoing (or the Participant) control the management of assets,
and any other entity in which these persons (or the Participant) own more than fifty percent (50%) of the voting interests. Any permitted
transferee will remain subject to all the terms and conditions applicable to the Participant prior to the transfer. A permitted transfer
may be conditioned upon such requirements as the Committee may, in its sole discretion, determine, including execution or delivery of
appropriate acknowledgements, opinion of counsel, or other documents by the transferee.

 

(d) The
Committee may impose such restrictions on any shares of Common Stock acquired by a Participant under this Plan as it may deem advisable,
including minimum holding period requirements, restrictions under applicable federal securities laws, under the requirements of any stock
exchange or market upon which the Common Stock is then listed or traded, or under any blue sky or state securities laws applicable to
such shares or the Company’s insider trading policy.

 

16.5 Non-Exclusivity
of this Plan. Nothing contained in this Plan is intended to modify or rescind any previously approved compensation plans or programs
of the Company or create any limitations on the power or authority of the Board to adopt such additional or other compensation arrangements
as the Board may deem necessary or desirable.

 

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		17.	Securities Law and Other Restrictions.

 

17.1 Restrictions.
Notwithstanding any other provision of this Plan or any Award Agreements entered into pursuant to this Plan, the Company will not be required
to issue any shares of Common Stock under this Plan, and a Participant may not sell, assign, transfer or otherwise dispose of shares of
Common Stock issued pursuant to Awards granted under this Plan, unless (a) there is in effect with respect to such shares a registration
statement under the Securities Act and any applicable securities laws of a state or foreign jurisdiction or an exemption from such registration
under the Securities Act and applicable state or foreign securities laws, and (b) there has been obtained any other consent, approval
or permit from any other U.S. or foreign regulatory body which the Committee, in its sole discretion, deems necessary or advisable. The
Company may condition such issuance, sale or transfer upon the receipt of any representations or agreements from the parties involved,
and the placement of any legends on certificates representing shares of Common Stock, as may be deemed necessary or advisable by the Company
in order to comply with such securities law or other restrictions.

 

17.2 Market
Stand-Off Agreement. Except as otherwise approved by the Committee, the holder of any shares of Common Stock acquired in connection
with the grant, exercise or vesting of an Incentive Award may not sell, assign, transfer or otherwise dispose of, make any short sale
of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale of,
any Common Stock (or other securities) of the Company held by such holder (other than those included in the registration) during the one
hundred eighty (180) day period following the effective date of the initial registration statement of the Company filed under the Securities
Act (or such longer period as the underwriters or the Company shall request in order to facilitate compliance with FINRA Rule 2711 or
NYSE Member Rule 472 or any successor or similar rule or regulation) and during the ninety (90) day period following the effective date
of any subsequent registration statement of the Company filed under the Securities Act (or such longer period as the underwriters or the
Company shall request in order to facilitate compliance with FINRA Rule 2711 or NYSE Member Rule 472 or any successor or similar rule
or regulation); provided, however, that such restrictions with respect to any subsequent registration shall terminate two
(2) years after the effective date of the Company’s initial registration statement filed under the Securities Act. The foregoing
provisions will not apply to the sale of any securities to an underwriter pursuant to an underwriting agreement and shall only be applicable
to such holder if all then current executive officers and directors of the Company enter into similar agreements. The provisions hereof
shall not apply to a registration relating solely to employee benefit plans on Form S 1 or Form S 8 or Rule 145 transactions on Form S
4, or similar forms that may be promulgated in the future. The Company may impose stop transfer instructions with respect to the securities
subject to the provisions hereof until the end of the applicable periods. The underwriters in connection with any public offering subject
to the foregoing provisions are intended third-party beneficiaries of this Section 17.2 and will have the right to enforce the provisions
hereof as though they were a party hereto. By accepting an Incentive Award under the Plan, each Participant agrees to enter into an appropriate
lock-up agreement with any such underwriters containing provisions similar in all material respects with the terms of this Section 17.2.

 

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		18.	Deferred Compensation; Compliance with Section 409A.

 

It is intended that all Awards
issued under this Plan be in a form and administered in a manner that will comply with the requirements of Section 409A of the Code, or
the requirements of an exception to Section 409A of the Code, and the Award Agreements and this Plan will be construed and administered
in a manner that is consistent with and gives effect to such intent. The Committee is authorized to adopt rules or regulations deemed
necessary or appropriate to qualify for an exception from or to comply with the requirements of Section 409A of the Code. With respect
to an Award that constitutes a deferral of compensation subject to Code Section 409A: (a) if any amount is payable under such Award upon
a termination of service, a termination of service will be treated as having occurred only at such time the Participant has experienced
a Separation from Service; (b) if any amount is payable under such Award upon a Disability, a Disability will be treated as having occurred
only at such time the Participant has experienced a “disability” as such term is defined for purposes of Code Section 409A;
(c) if any amount is payable under such Award on account of the occurrence of a Change in Control, a Change in Control will be treated
as having occurred only at such time a “change in the ownership or effective control of the corporation or in the ownership of a
substantial portion of the assets of the corporation” as such terms are defined for purposes of Code Section 409A, (d) if any amount
becomes payable under such Award on account of a Participant’s Separation from Service at such time as the Participant is a “specified
employee” within the meaning of Code Section 409A, then no payment will be made, except as permitted under Code Section 409A, prior
to the first business day after the earlier of (i) the date that is six months after the date of the Participant’s Separation from
Service or (ii) the Participant’s death, and (e) no amendment to or payment under such Award will be made except and only to the
extent permitted under Code Section 409A.

 

		19.	Amendment, Modification and Termination.

 

19.1 Generally.
Subject to other subsections of this Section 19 and Section 3.4 of this Plan, the Board at any time may suspend or terminate this Plan
(or any portion thereof) or terminate any outstanding Award Agreement and the Committee, at any time and from time to time, may amend
this Plan or amend or modify the terms of an outstanding Award. The Committee’s power and authority to amend or modify the terms
of an outstanding Award includes the authority to modify the number of shares of Common Stock or other terms and conditions of an Award,
extend the term of an Award, accept the surrender of any outstanding Award or, to the extent not previously exercised or vested, authorize
the grant of new Awards in substitution for surrendered Awards; provided, however that the amended or modified terms are
permitted by this Plan as then in effect and that any Participant adversely affected by such amended or modified terms has consented to
such amendment or modification.

 

19.2 Stockholder
Approval. No amendments to this Plan will be effective without approval of the Company’s stockholders if: (a) stockholder approval
of the amendment is then required pursuant to Section 422 of the Code, the rules of the primary stock exchange or stock market on which
the Common Stock is then traded, applicable state corporate laws or regulations, applicable federal laws or regulations, and the applicable
laws of any foreign country or jurisdiction where Awards are, or will be, granted under this Plan; or (b) such amendment would: (i) modify
Section 3.4 of this Plan; (ii) materially increase benefits accruing to Participants; (iii) increase the aggregate number of shares of
Common Stock issued or issuable under this Plan; (iv) increase any limitation set forth in this Plan on the number of shares of Common
Stock which may be issued or the aggregate value of Awards which may be made, in respect of any type of Award to any single Participant
during any specified period; (v) modify the eligibility requirements for Participants in this Plan; or (vi) reduce the minimum exercise
price or grant price as set forth in Sections 6.3 and 7.3 of this Plan.

 

19.3 Awards
Previously Granted. Notwithstanding any other provision of this Plan to the contrary, no termination, suspension or amendment of this
Plan may adversely affect any outstanding Award without the consent of the affected Participant; provided, however, that
this sentence will not impair the right of the Committee to take whatever action it deems appropriate under Sections 4.4, 9.7, 13, 15,
18 or 19.4 of this Plan.

 

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19.4 Amendments
to Conform to Law. Notwithstanding any other provision of this Plan to the contrary, the Committee may amend this Plan or an Award
Agreement, to take effect retroactively or otherwise, as deemed necessary or advisable for the purpose of conforming this Plan or an Award
Agreement to any present or future law relating to plans of this or similar nature, and to the administrative regulations and rulings
promulgated thereunder. By accepting an Award under this Plan, a Participant agrees to any amendment made pursuant to this Section 19.4
to any Award granted under this Plan without further consideration or action.

 

		20.	Substituted Awards.

 

The Committee may grant Awards
under this Plan in substitution for stock and stock-based awards held by employees of another entity who become employees of the Company
or a Subsidiary as a result of a merger or consolidation of the former employing entity with the Company or a Subsidiary or the acquisition
by the Company or a Subsidiary of property or stock of the former employing corporation. The Committee may direct that the substitute
Awards be granted on such terms and conditions as the Committee considers appropriate in the circumstances.

 

		21.	Effective Date and Duration of this Plan.

 

This Plan is effective as
of the Effective Date. This Plan will terminate at midnight on the day before the ten (10) year anniversary of the Effective Date, and
may be terminated prior to such time by Board action. No Award will be granted after termination of this Plan, but Awards outstanding
upon termination of this Plan will remain outstanding in accordance with their applicable terms and conditions and the terms and conditions
of this Plan.

 

		22.	Miscellaneous.

 

22.1 Usage.
In this Plan, except where otherwise indicated by clear contrary intention, (a) any masculine term used herein also will include the feminine,
(b) the plural will include the singular, and the singular will include the plural, (c) “including” (and with correlative
meaning “include”) means including without limiting the generality of any description preceding such term, and (d) “or”
is used in the inclusive sense of “and/or”.

 

22.2 Relationship
to Other Benefits. Neither Awards made under this Plan nor shares of Common Stock or cash paid pursuant to such Awards under this
Plan will be included as “compensation” for purposes of computing the benefits payable to any Participant under any pension,
retirement (qualified or non-qualified), savings, profit sharing, group insurance, welfare, or benefit plan of the Company or any Subsidiary
unless provided otherwise in such plan.

 

22.3 Fractional
Shares. No fractional shares of Common Stock will be issued or delivered under this Plan or any Award. The Committee will determine
whether cash, other Awards or other property will be issued or paid in lieu of fractional shares of Common Stock or whether such fractional
shares of Common Stock or any rights thereto will be forfeited or otherwise eliminated by rounding up or down.

 

22.4 Governing
Law. Except to the extent expressly provided herein or in connection with other matters of corporate governance and authority (all
of which will be governed by the laws of the Company’s jurisdiction of incorporation), the validity, construction, interpretation,
administration and effect of this Plan and any rules, regulations and actions relating to this Plan will be governed by and construed
exclusively in accordance with the laws of the State of Nevada, notwithstanding the conflicts of laws principles of any jurisdictions.

 

22.5 Successors.
All obligations of the Company under this Plan with respect to Awards granted hereunder will be binding on any successor to the Company,
whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation or otherwise, of all or
substantially all of the business or assets of the Company.

 

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22.6 Construction.
Wherever possible, each provision of this Plan and any Award Agreement will be interpreted so that it is valid under the Applicable Law.
If any provision of this Plan or any Award Agreement is to any extent invalid under the Applicable Law, that provision will still be effective
to the extent it remains valid. The remainder of this Plan and the Award Agreement also will continue to be valid, and the entire Plan
and Award Agreement will continue to be valid in other jurisdictions.

 

22.7 Delivery
and Execution of Electronic Documents. To the extent permitted by Applicable Law, the Company may: (a) deliver by email or other electronic
means (including posting on a Web site maintained by the Company or by a third party under contract with the Company) all documents relating
to this Plan or any Award hereunder (including prospectuses required by the Securities and Exchange Commission) and all other documents
that the Company is required to deliver to its security holders (including annual reports and proxy statements), and (b) permit Participants
to use electronic, internet or other non-paper means to execute applicable Plan documents (including Award Agreements) and take other
actions under this Plan in a manner prescribed by the Committee.

 

22.8 No
Representations or Warranties Regarding Tax Effect. Notwithstanding any provision of this Plan to the contrary, the Company and its
Subsidiaries, the Board, and the Committee neither represent nor warrant the tax treatment under any federal, state, local, or foreign
laws and regulations thereunder (individually and collectively referred to as the “Tax Laws”) of any Award granted
or any amounts paid to any Participant under this Plan including, but not limited to, when and to what extent such Awards or amounts may
be subject to tax, penalties, and interest under the Tax Laws.

 

22.9 Unfunded
Plan. Participants will have no right, title or interest whatsoever in or to any investments that the Company or its Subsidiaries
may make to aid it in meeting its obligations under this Plan. Nothing contained in this Plan, and no action taken pursuant to its provisions,
will create or be construed to create a trust of any kind, or a fiduciary relationship between the Company and any Participant, beneficiary,
legal representative, or any other individual. To the extent that any individual acquires a right to receive payments from the Company
or any Subsidiary under this Plan, such right will be no greater than the right of an unsecured general creditor of the Company or the
Subsidiary, as the case may be. All payments to be made hereunder will be paid from the general funds of the Company or the Subsidiary,
as the case may be, and no special or separate fund will be established and no segregation of assets will be made to assure payment of
such amounts except as expressly set forth in this Plan.

 

22.10 Indemnification.
Subject to any limitations and requirements of Nevada law, each individual who is or will have been a member of the Board, or a Committee
appointed by the Board, or an officer or Employee of the Company to whom authority was delegated in accordance with Section 3.3 of this
Plan, will be indemnified and held harmless by the Company against and from any loss, cost, liability or expense that may be imposed upon
or reasonably incurred by him or her in connection with or resulting from any claim, action, suit or proceeding to which he or she may
be a party or in which he or she may be involved by reason of any action taken or failure to act under this Plan and against and from
any and all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by him or her in satisfaction
of any judgment in any such action, suit or proceeding against him or her, provided he or she will give the Company an opportunity, at
its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his/her own behalf. The foregoing
right of indemnification will not be exclusive of any other rights of indemnification to which such individuals may be entitled under
the Company’s Certificate of Incorporation or Bylaws, as a matter of law, or otherwise, or pursuant to any agreement with the Company,
or any power that the Company may have to indemnify them or hold them harmless.

 

 

27Exhibit
10.7

 

EMPLOYMENT AGREEMENT

 

This Employment Agreement
(this “Agreement”) is made as of April 1st, 2021 (“Effective Date”), by and between Adina Gold Corp.,
a Nevada corporation (the “Employer”), and Christian Noël, an individual resident of Canada (the “Executive”).
The signatories of this Agreement are referred to individually as a “Party” or collectively as the “Parties.”

 

RECITALS

 

A. Employer
considers it essential and in the best interests of its stockholders to foster the employment of key management personnel and desires
to engage the services of the Executive on the terms and conditions hereinafter set forth; and

 

B. Executive
desires to render services to the Employer on the terms and conditions provided in this Agreement;

 

NOW, THEREFORE, in consideration
of the mutual covenants and agreements contained herein and of other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the parties, agree as follows:

 

AGREEMENT

 

1. EMPLOYMENT
TERMS AND DUTIES

 

1.1 EMPLOYMENT.

 

The Employer agrees to, and
hereby does, employ the Executive for the term of this Agreement upon the terms and conditions set forth in this Agreement.

 

1.2 TERM.

 

Subject to the provisions
of Section 5, the term of Executive’s employment under this Agreement will be three (3) years (the “Employment
Period”), beginning on the Effective Date. The Employment Period shall be automatically renewed for an additional one year term
on each anniversary of the Effective Date of this Agreement, unless, not less than sixty (60) days prior to such anniversary, either party
gives the other party written notice of the non-renewal of the Employment Period. The non-renewal of this Agreement shall not be considered
a termination of the Executive’s employment for purposes of Section 5 of this Agreement.

 

     

     

    

 

1.3 DUTIES.

 

The Executive will serve as
the Chief Executive Officer of the Employer and shall have the duties, authorities, and responsibilities commensurate with such position,
and such other duties, authorities, and responsibilities as may reasonably be assigned to the Executive from time to time that are not
inconsistent with the Executive’s position with the Employer. In the performance of his duties, the Executive shall, in good faith,
comply with the policies, and be subject to the reasonable direction, of the Board of Directors of the Employer. The Executive agrees
to perform in good faith and to the best of his ability all services which may be required of him hereunder and will devote such efforts
and business time, skill, attention and energies as are reasonably necessary to perform his duties and responsibilities under this Agreement
and to promote the success of the Employer’s business. The Executive shall be employed on a full time basis by the Employer and
shall initially be located in Québec, Canada. Should the Parties mutually agree that Executive must relocate, then Executive and
Employer shall mutually agree on a relocation program that will either consist of: (i) the relocation of Executive, at the expense of
the Employer, to an area proximate to any such new corporate headquarters; or (ii) Executive and Employer agreeing on the scope and allocation
of cost of a commuting/temporary accommodation program. Subject to the provisions of Section 7 of this Agreement, the Executive
may continue to engage in the following activities: (a) serving on the Board of Directors of community or other non-profit ventures in
an unpaid capacity, provided such ventures do not interfere with Executive’s full-time service to the Employer, (b) serving on the
Board of Directors of other non-competitive ventures or businesses that are pre-approved in writing by the Employer’s audit committee;
(c) managing his personal investments; and (d) participate in certain preexisting and ongoing referral agreements, the general terms of
which will be disclosed to Employer’s audit committee prior to execution of this Agreement, provided that such activities set forth
in (a) through (d) (individually or collectively) do not materially and adversely interfere or conflict with the performance of the Executive’s
duties or responsibilities under this Agreement.

 

2. COMPENSATION

 

2.1 BASIC
COMPENSATION.

 

(a) Signing
Bonus; RSUs. The Employer agrees to grant to the Executive as of the Effective Date, 6,000,000 RSU’s. The RSU’s awarded shall
be subject to the terms of a Restricted Stock Unit Agreement granted under and subject to the Employer’s 2019 Omnibus Incentive
Plan (the “Plan”) except, in all events, such RSUs shall vest immediately and automatically at the grant date. However, Employer
shall not be able to sell, transfer, or otherwise dispose of the resulting shares before the second anniversary of the Effective Date,
except upon: (a) Executive’s death; (b) termination of the Executive’s employment on account of Disability; (c) termination
by Employer other than For Cause; (d) termination by the Employer for Cause; (e) termination by the Executive Without Good Reason; (f)
termination by the Executive for Good Reason; (g) Change of Control and (h) as the share restrictive legend requires by law.

 

(b) Base
Salary. The Executive will be paid an annual base salary of $360,000.00 during 2021 with an automatic increase, effective on each
anniversary of the Effective Date, of 10% per annum each year over the prior year’s base salary during the term of this Agreement,
subject to tax withholdings and upwards adjustment as provided below (the “Base Salary”), which will be payable in equal periodic
installments according to the Employer’s customary payroll practices, but no less frequently than monthly. The Executive’s
Base Salary will be reviewed by the Employer’s Board of Directors not less frequently than annually, and may be further adjusted
upward by the Employer, but in no case can be adjusted downward without the mutual agreement of the Parties.

 

    2

     

    

 

(c) Benefits.
The Executive will, during the Employment Period, be permitted to participate in such pension, profit sharing, life insurance, and medical
and dental insurance coverage benefits, (including family coverage, 100% of which will be paid for by the Employer), and other employee
benefit plans of the Employer, to the extent they may be in effect from time to time, and to the extent the Executive is eligible under
the terms of those plans (collectively, the “Benefits”). The Executive shall also be entitled to such other employee benefits
as are now or may become available to any of the Employer’s other executive officers. Executive shall work with the Compensation
Committee of the Employer (the “Compensation Committee”) to develop a benefits package to assist in recruiting talent.

 

2.2 INCENTIVE
AND ANNUAL EQUITY COMPENSATION.

 

(a) Targeted
Annual Incentive Bonus. In addition to his Base Salary, the Executive shall be eligible to receive a targeted annual incentive bonus
each calendar year based upon achievement of performance goals of the Executive and corporate achievements of the Employer, as determined
in the sole discretion of the Compensation Committee, upon consultation with a compensation consultant. The target payout to be 100% of
Base Salary which can been amended up or down by the Compensation Committee based on the performance goals. An annual incentive bonus
that is earned shall be payable to the Executive within no more than thirty (30) days following the Employer’s determination of
the performance goals for the annual period in question (but in no event later than March 15 of the year after such annual period), and
shall be accompanied by a certification of the Employer’s Chief Financial Officer describing the determination of the amount of
the annual incentive bonus. Subject to the Compensation Committee’s determination of the achievement of the performance goals, the
annual incentive bonus for a calendar year shall be earned if the Executive’s employment or service continues until December 31
of that year.

 

(b) Annual
RSU Award. In addition to his Base Salary and targeted annual incentive bonus opportunity under Section 2.2(a) above, the Executive
shall each calendar year also be eligible to receive an annual RSU based upon achievement of performance goals of the Executive and corporate
achievements of the Employer, as determined in the sole discretion of the Compensation Committee (upon consultation with a compensation
consultant). The performance goals, may or may not be the same as the performance goals established in connection with Section 2.2(a)
above. The target payout to be between 0 - 275% of Base Salary which can been amended up or down by the Compensation Committee based on
the performance goals, and will be settled upon the issuance of additional RSU’s to the Executive at the same time as the incentive
bonus. The number of RSUs granted on each award date shall equal the number of shares of common stock of the Employer that have a Fair
Market Value on the date of grant equal to that percentage of Base Salary resulting from the Committee’s determination of the annual
performance goals. The RSUs shall be subject to the terms of a Restricted Stock Unit Agreement granted under and subject to the Plan,
except, in all events, such RSUs shall vest immediately and automatically at the grant date. However, Employer shall not be able to sell,
transfer, or otherwise dispose of the resulting sharesbefore the second anniversary of the Effective Date, except upon: (a) Executive’s
death; (b) termination of the Executive’s employment on account of Disability; (c) termination by Employer other than For Cause;
(d) termination by the Employer for Cause; (e) termination by the Executive Without Good Reason; (f) termination by the Executive for
Good Reason; (g) Change of Control, and (h) as the share restrictive legend requires by law.

 

    3

     

    

 

2.3 MANAGEMENT
INCENTIVE EQUITY POOL

 

The Compensation Committee,
in consultation with Executive, will establish and/or maintain a Management Equity Incentive Pool of at least 10% of the outstanding shares
of the Employer for senior management and other personnel of the Employer, to which Executive will be eligible to participate.

 

2.4 INDEMNIFICATION;
D&O INSURANCE

 

Employer agrees to indemnify
Executive and hold Executive harmless to the extent provided under the operating documents of the Employer against, or applicable law,
and in respect of, any and all actions suits, proceedings, claims, demands, judgments, costs, expenses (including reasonable attorney’s
fees), losses, and damages resulting from the Executive’s good faith performance of the Executive’s duties and obligations
with Employer. This obligation shall survive the termination of the Executive’s employment with Employer. Employer shall cover the
Employee under directors’ and officers’ liability insurance both during and, while potential liability exists, after the term
of this Agreement in the same amount and to the same extent as the Employer covers its other officers and directors, and consistent with
the amount of coverage similarly sized companies provide their officers and directors, whichever is more.

 

3. EXPENSE
REIMBURSEMENT

 

The Employer will pay on behalf
of the Executive (or reimburse the Executive for) reasonable expenses incurred by the Executive in the performance of the Executive’s
duties pursuant to this Agreement, including, without limitation, reasonable expenses incurred by the Executive in attending business
meetings and for entertainment expenses, dues in such trade and professional organizations as the Executive deems appropriate, toll tag
fees, annual dues associated with membership in airport lounges and clubs, and cell phone fees and data plans, in accordance with the
Employer’s then applicable travel and entertainment policies. Any individual expenses (or those aggregated for a single business
trip) greater than $10,000 must be approved by either the Employer’s Chief Financial Officer or the Employer’s Compensation
Committee. The Executive must submit expense reports with respect to such expenses in accordance with the Employer’s policies. Payment
by Employer or reimbursement, as appropriate, will be made by Employer within thirty days following submission.

 

4. VACATIONS
AND HOLIDAYS

 

The Executive will be entitled
to six (6) weeks’ paid vacation each calendar year in accordance with the vacation policies of the Employer in effect for its executive
officers from time to time. The Executive will also be entitled to the paid holidays and other paid leave set forth in the Employer’s
policies.

 

    4

     

    

 

5. TERMINATION

 

5.1 EVENTS
OF TERMINATION.

 

(a) The
Executive’s employment may be terminated by the Employer on the following grounds:

 

(i) upon
the death of the Executive;

 

(ii) upon
the Disability (defined in Section 9.1) of the Executive immediately upon notice from either party to the other;

 

(iii) For
Cause (defined in Section 9.1) (following the expiration of any applicable notice period); and

 

(iv) at
the discretion of the Employer, other than For Cause.

 

(b) The
Executive may terminate his employment on the following grounds:

 

(i) without
Good Reason (defined in Section 9.1), provided that the Executive gives the Employer at least thirty (30) days prior written
notice of his termination of employment; or

 

(ii) for
Good Reason (following the expiration of any applicable notice period).

 

5.2 TERMINATION
BENEFITS.

 

Effective upon the termination
of this Agreement, the Employer will be obligated to pay the Executive (or, in the event of his death, his designated beneficiary as defined
below) the compensation provided in this Section 5.2:

 

(a) Termination
by the Employer For Cause or Termination by the Executive Without Good Reason. If the Employer terminates this Agreement For Cause
or the Executive resigns or terminates his employment for other than Good Reason, the Executive will be entitled to receive the Accrued
Obligations, but will not be entitled to any other compensation.

 

(b) Termination
upon Disability. If this Agreement is terminated by the Employer as a result of the Executive’s Disability, in lieu of any payments
due under this agreement or any severance plan or program for employees or executives, Executive shall be entitled to receive: (i) the
Accrued Obligations; and (ii) a continuation of his then effective Base Salary for six (6) months following such termination. The Base
Salary continuation benefit described in clause (ii) of the preceding sentence shall be paid in accordance with the Employer’s customary
payroll practices then in effect beginning with the first regular payroll date that occurs after the Release Effective Date; provided,
however, that if the sixty (60) day period for providing the Release begins in one calendar year and ends in the following calendar year,
the first payment of such amount shall be made on the first regular payroll date that occurs in the second calendar year and that is after
the Release Effective Date. The proceeds of any disability insurance secured on behalf of the Executive by the Employer and received by
the Executive shall be applied towards, and credited against, the Employer’s obligation to continue paying the Executive’s
Base Salary as set forth above. If Executive or Executive’s eligible dependent(s) timely elect coverage pursuant to COBRA, Employer
shall pay for COBRA coverage for six (6) months or, if earlier, the month in which the right to COBRA coverage ends.

 

    5

     

    

 

(c) Termination
upon Death. If this Agreement is terminated because of the Executive’s death, the Executive’s estate shall be entitled
to receive, in lieu of any payments due under this Agreement or any severance plan or program for employees or executives: (i) the Accrued
Obligations; and (ii) a continuation of the Executive’s Base Salary for six (6) months following the Executive’s death. The
Base Salary continuation benefit described in clause (ii) of the preceding sentence shall be paid in accordance with the Employer’s
customary payroll practices then in effect beginning with the first regular payroll date that occurs after the Release Effective Date;
provided, however, that if the sixty (60) day period for providing the Release begins in one calendar year and ends in the following calendar
year, the first payment of such amount shall be made on the first regular payroll date that occurs in the second calendar year and that
is after the Release Effective Date. If Executive’s eligible dependent(s) timely elect coverage pursuant to COBRA, Employer shall
pay for COBRA coverage for six (6) months or, if earlier, the month in which the right to COBRA coverage ends.

 

(d) Termination
by the Executive For Good Reason or Termination by the Employer Other Than For Cause. If this Agreement is terminated by the Executive
for Good Reason, or if this Agreement is terminated by the Employer other than For Cause, then the Executive shall be entitled to receive,
in lieu of any other payments due under this Agreement or any severance plan or program for employees or executives: (i) the Accrued Obligations;
and (ii) a continuation of the Executive’s Base Salary for twelve (12) months following the Executive’s death. The Base Salary
continuation benefits described in clause (ii) of the preceding sentence shall be paid in accordance with the Employer’s customary
payroll practices, then in effect beginning with the first regular payroll date that occurs after the Release Effective Date; provided,
however, that if the sixty (60) day period for providing the Release begins in one calendar year and ends in the following calendar year,
the first payment of such amount shall be made on the first regular payroll date that occurs in the second calendar year and that is after
the Release Effective Date. Executive shall make himself reasonably available to provide strategic consulting and transition services
for twelve (12) months following the effective date of the Executive’s termination covered by this Section 5.2(d); provided,
however, that the Executive shall not be required to perform more than twenty (20) hours of such service in a month. If Executive or Executive’s
eligible dependent(s) timely elect coverage pursuant to COBRA, the Employer shall pay for COBRA coverage for twelve (12) months or, if
earlier, the month in which the right to COBRA coverage ends.

 

(e) Effective
Release. No payments (other than the Accrued Obligations) will be made to Executive (or his estate, as applicable) under this Section
5 will occur, unless the Executive (or his estate, as applicable) executes and does not revoke a mutually agreeable Release.

 

(f) Resignation.
On the date of any termination of Executive’s employment, the Executive agrees to resign all positions for Employer, including as
an officer and director of the Employer and/or its parents, subsidiaries and affiliates, if applicable.

 

    6

     

    

 

6. CHARACTER
OF TERMINATION PAYMENTS; MITIGATION

 

The amounts payable to the
Executive upon any termination of this Agreement shall be considered severance pay in consideration of past services rendered on behalf
of the Employer and his continued service from the Effective Date to the date he becomes entitled to such payments. The Executive shall
have no duty to mitigate his damages by seeking other employment and, should the Executive actually receive compensation from any such
other employment, the payments required under this Agreement shall not be reduced or offset by any such other compensation.

 

7. RESTRICTIVE
COVENANTS.

 

7.1 Trade
Secrets and Confidential Information. The Executive recognizes that it is in the legitimate business interest of the Employer, any
subsidiary, and any controlled affiliate, (collectively, “Employer Entities”) to restrict his disclosure or use of Trade Secrets
and Confidential Information relating to the Employer Entities for any purpose other than in connection with the Executive’s performance
of his duties to the Employer Entities and to limit any potential appropriation of such Trade Secrets and Confidential Information. The
Executive therefore agrees that all Trade Secrets and Confidential Information relating to the Employer Entities heretofore or in the
future obtained by the Executive in the course of his duties shall be considered confidential and the proprietary information of the Employer
Entities. The Executive shall not use or disclose, or authorize any other person or entity to use or disclose, any Trade Secrets or other
Confidential Information. The Parties agree that the Employer Entities’ Trade Secrets and Confidential Information shall not include
any information that is (i) already known to Executive when he begins employment with Employer, (ii) available in the public sphere, or
(iii) made known to Executive wholly outside of and separate from his performance of duties for Employer.

 

7.2 Discoveries
and Works. All Discoveries and Works made or conceived by the Executive during the Term, jointly or with others, that relate to the
present or anticipated activities of the Employer, any subsidiary or any affiliate, or are used or usable by the Employer, any subsidiary
or any affiliate shall be owned by the Employer, any subsidiary or any affiliate. The Executive shall promptly notify, make full disclosure
to, and execute and deliver any documents requested by the Employer, any subsidiary or any affiliate, as the case may be, to evidence
or better assure title to Discoveries and Works in the Employer, any subsidiary or any affiliate, as so requested. The Executive acknowledges
that all Discoveries and Works shall be deemed “works made for hire” under the Copyright Act of 1976, as amended, 17 U.S.C.
Section 101.

 

7.3 Mutual
Non-Disparagement.

 

(a) The
Executive agrees that the Executive will not disparage the Employer Entities and/or any of the following who are known by Executive to
be affiliated with the Employer Entities: their respective officers, directors, investors, employees, and agents, and their respective
successors and assigns, heirs, executors, and administrators. Nor shall Executive make any public statement reflecting negatively on the
persons and entities described in the preceding paragraph to third parties, including, but not limited to, any matters relating to the
operation or management of the Employer, irrespective of the truthfulness or falsity of such statement.

 

(b) Employer
agrees, on behalf of itself, the Employer Entities, and its and their respective officers, directors, investors, employees, and agents,
and its and their respective successors and assigns, heirs, executors, and administrators, not to disparage Executive or to make any public
statement reflecting negatively on the Executive, including, but not limited to, on any matters related to his performance of duties,
professionalism, and integrity, irrespective of the truthfulness or falsity of such statement.

 

    7

     

    

 

7.4 Remedies.
In view of the nature of the business in which the Employer is engaged, the Executive acknowledges that the restrictions contained in
this Section 7 are reasonable and necessary in order to protect the legitimate interests of the Employer and that any violation
thereof would result in irreparable injuries to the Employer which would not be readily ascertainable or compensable in terms of money,
and that, in addition to any other remedy to which the Employer and its subsidiaries and affiliates may be entitled at law or in equity,
the Employer and its subsidiaries and affiliates shall be entitled to a temporary or permanent injunction or injunctions or temporary
restraining order or orders to prevent breaches of the provisions of this Section 7 and to enforce specifically the terms and provisions
hereof, in each case without the need to post any security or bond and without the requirement to prove that monetary damages would be
difficult to calculate and that remedies at law would be inadequate. Nothing herein contained shall be construed as prohibiting the Employer
and its subsidiaries and affiliates from pursuing, in addition, any other remedies available to the Employer and its subsidiaries and
affiliates for such breach or threatened breach.

 

7.5 Enforceability.
It is expressly understood and agreed that although the parties consider the restrictions contained in this Section 7 hereof to
be reasonable and necessary for the purpose of preserving and protecting the legitimate interests of the Employer and its subsidiaries
and affiliates, including its goodwill and proprietary rights, if a final determination is made by a court having jurisdiction that the
time or territory or any other restriction contained in this Section 7 is an unenforceable restriction on the Executive’s
activities, the provisions of this Section 7 shall not be rendered void but, to the extent allowable by law, shall be deemed amended
to apply as to such maximum time and territory and to such other extent as such court or arbitration panel may determine or indicate to
be reasonable. Alternatively, if the court referred to above finds that any restriction contained in this Section 7 or any remedy
provided herein is unenforceable, and such restriction or remedy cannot be amended so as to make it enforceable, such finding shall not
affect the enforceability of any of the other restrictions contained herein or the availability of any other remedy.

 

8. PROVISIONS
REGARDING RESTRICTED STOCK UNITS

 

8.1 Representations
and Warranties of the Executive. In connection with the awarding of the RSU’s pursuant to this Agreement, the Executive makes
the following representations and warranties to the Employer as of the Effective Date:

 

(a) The
Executive hereby acknowledges and agrees that the Employer is in the early-stages of the development of its business plan, and offers
no assurances of success. The Executive has had such opportunity as the Executive has deemed adequate to obtain from representatives of
the Employer such information as is necessary to permit the Executive to evaluate the merits and risks of the Executive’s acquisition
of the RSU’s. The Executive has sufficient experience in business, financial, and investment matters to be able to evaluate the
risks involved in the acquisition of the RSU’s and to make an informed investment decision with respect thereto. The Executive can
afford the complete loss of the value of the RSU’s and is able to bear the economic risk of holding the RSU’s or the Common
Stock issued in settlement of such RSU’s, for an indefinite period.

 

    8

     

    

 

(b) The
Executive is acquiring these securities for investment for the Executive’s own account only and not with a view to, or for resale
in connection with, any “distribution” thereof within the meaning of the Securities Act or under any applicable provision
of state law. The Executive does not have any present intention to transfer the RSU’s or the Common Stock issued in settlement of
such RSU’s, to any third party.

 

(c) The
Executive understands that the RSU’s and the Common Stock issued in settlement of such RSU’s, have not been registered under
the Securities Act by reason of a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature
of the Executive’s investment intent as expressed herein.

 

(d) The
Executive further acknowledges and understands that the RSU’s and the Common Stock issued in settlement of such RSU’s, must
be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration is available.
The Executive further acknowledges and understands that the Employer is under no obligation to register the RSU’s or the Common
Stock issued in settlement of such RSU’s. The Executive understands that the certificate(s) evidencing the RSU’s and the Common
Stock issued in settlement of such RSU’s, will be imprinted with a legend which prohibits the transfer thereof unless they are registered
or such registration is not required in the opinion of counsel for the Employer.

 

(e) The
Executive is familiar with the provisions of Rules 144 promulgated under the Securities Act, which, in substance, permits limited public
resale of “restricted securities” acquired, directly or indirectly, from the issuer of the securities (or from an affiliate
of such issuer), in a non-public offering subject to the satisfaction of certain conditions. The Executive understands that the Employer
provides no assurances as to whether the Executive will be able to resell any or all of the Common Stock issued in settlement of such
RSU’s, pursuant to Rule 144, which rules requires, among other things, that the Employer be subject to the reporting requirements
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that resales of securities take place only after
the holder has held the RSU’s for certain specified time periods, and under certain circumstances, that resales of securities be
limited in volume and take place only pursuant to brokered transactions.

 

8.2 Restrictive
Legends and Stop-Transfer Orders.

 

(a) Legends.
The certificate or certificates representing the Common Stock issued in settlement of such RSU’s, shall bear the following legends
(as well as any legends required by applicable state and federal corporate and securities laws):

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE
HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT, OR ANY STATE SECURITIES LAWS. THE SECURITIES
MAY NOT BE PLEDGED, HYPOTHECATED, SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND
APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL SATISFACTORY TO THE EMPLOYER THAT SUCH PLEDGE, HYPOTHECATION, SALE OR TRANSFER
IS EXEMPT THEREFROM UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS.

 

    9

     

    

 

8.3 Withholding.
The Employer reserves the right to withhold, in accordance with any Applicable Laws, from any consideration payable or property transferable
to the Executive any taxes the Employer reasonably determines is required to be withheld by federal, state or local law as a result of
the grant or vesting or settlement of the RSU’s. Alternatively or if the amount of any consideration payable to the Executive is
insufficient to pay such taxes or if no consideration is payable to the Executive, upon the request of the Employer, the Executive will
pay to the Employer an amount sufficient for the Employer to satisfy any federal, state or local tax withholding requirements applicable
to and as a condition to the payment in settlement of the RSU’s. The Compensation Committee may, in its sole discretion, consider
whether, to what extent, and under what terms it may grant Executive the right to use shares of Employer common stock or shares of Employer
common stock issued upon settlement of the RSU’s, to apply against his withholding obligation under this Section 8.3, however, shall
be under no obligation to do so.

 

8.4 Settlement
of RSUs. The Restricted Stock Unit Agreement shall provide that the RSUs shall be settled by the issuance of one share of Employer
common stock (subject to any adjustment provisions included within the Plan), less any shares of common stock, if at all, that are permitted
to be withheld from the settlement in accordance with Section 8.3. Shares of common stock shall be issued to the Executive within
ten (10) days after the date the RSUs vest.

 

9. GENERAL
PROVISIONS

 

9.1 DEFINITIONS.

 

For the purposes of this Agreement,
the following terms have the meanings specified or referred to in this Section 9:

 

“Accrued Obligations”
means (i) any Base Salary, annual incentive bonus earned and accrued at year-end under Section 2.2, Management Incentive Equity
Pool earned and accrued at year-end under Section 2.3, or other incentive compensation that is earned but remains unpaid on the date of
termination, (ii) vacation or paid time off that is accrued but unused on the date of termination, (iii) expenses that are reimbursable
under the Employer’s expense reimbursement policy or this Agreement that remain unpaid on the date of termination, (iv) rights under
vested RSUs as of the date of termination and (v) benefits and rights under the Employer’s employee benefit plans. The Accrued Obligations
will be paid in accordance with the Employer’s customary payroll practices, expense reimbursement policy or the terms of the employee
benefit plan, as applicable.

 

    10

     

    

 

“Agreement” means
this Employment Agreement, as amended from time to time in a writing signed by both parties.

 

“Board of Directors”
means the board of directors of the Employer.

 

“Change in Control”
means the acquisition by any “person” or “group” (as defined in or pursuant to Sections 13(d) and 14(d) of the
Exchange Act) (other than the Employer, any subsidiary of the Employer or any employee benefit plan of the Employer or subsidiary of the
employer), directly or indirectly, as “beneficial owner” (as defined in Rule l3d-3 under the Exchange Act) of securities representing
fifty percent (50%) or more of either the then outstanding shares or the combined voting power of the then outstanding securities of the
Employer; or the consummation of a merger, consolidation or other business combination of the Employer with any other “person”
or “group” (as defined in or pursuant to Sections 13(d) and 14(d) of the Exchange Act) or affiliate thereof, other than a
merger or consolidation that would result in the outstanding common stock of the Employer immediately prior thereto continuing to represent
(either by remaining outstanding or by being converted into common stock of the surviving entity or a parent or affiliate thereof) more
than fifty percent (50%) of the outstanding common stock of the Employer or such surviving entity or a parent or affiliate thereof outstanding
immediately after such merger, consolidation or other business combination, or (y) a plan of complete liquidation of the Employer or an
agreement for the sale or disposition of all or substantially all of the Employer assets.

 

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

 

“Disability” shall
mean once the Executive is unable to perform the essential functions of the Executive’s duties with reasonable accommodation, as
defined by the Americans with Disabilities Act of 1990 (“ADA”), for 120 consecutive days, or 180 days during any twelve month
period. The Disability of the Executive will be determined by a medical doctor selected by written agreement of the Employer and the Executive
upon the request of either party by written notice to the other. If the Employer and the Executive cannot agree on the selection of a
medical doctor, each of them will select a medical doctor and the two medical doctors will attempt to make a determination of disability.
If these two doctors cannot agree, they will jointly select a third medical doctor who will determine whether the Executive has a disability.
The determination of the third medical doctor(s) selected under this provision will be binding on both parties. The Executive must submit
to a reasonable number of examinations by the medical doctor making the determination of disability under this provision, and the Executive
hereby authorizes the disclosure and release to the Employer of such determination(s) and all supporting medical records. If the Executive
is not legally competent, the Executive’s legal guardian or duly authorized attorney in fact will act in the Executive’s stead
for the purposes of submitting the Executive to the examinations, and providing the authorization of disclosure, required under this provision.

 

“Discoveries and Works”
shall mean, by way of example but without limitation, Trade Secrets or other Confidential Information, patents and patent applications,
trademarks and trademark registrations and applications, service marks and service mark registrations and applications, trade names, copyrights
and copyright registrations and applications.

 

    11

     

    

 

“Fair Market Value”
means, with respect to the common stock of the Employer (the “Common Stock”), the average closing sales price of the Common
Stock for the thirty (30) days before the grant date, as reported by the NYSE American, Nasdaq Stock Market or any national securities
exchange on which the Common Stock is then listed (or, if no shares were traded on such date, as of the next preceding date on which there
was such a trade) or if the Common Stock is not so listed, admitted to unlisted trading privileges or reported on any national exchange,
the closing sale price as of the end of the regular trading session, as reported by the OTC Markets or trading platform or other comparable
quotation service (or, if no shares were traded or quoted on such date, as of the next preceding date on which there was such a trade
or quote). In the event the Common Stock is not publicly traded at the time a determination of its value is required to be made hereunder,
the determination of Fair Market Value shall be made by the Compensation Committee in such manner as it deems appropriate and in good
faith in the exercise of its reasonable discretion, and consistent with the definition of “fair market value” under Section
409A of the Code. If determined by the Compensation Committee, such determination will be final, conclusive and binding for all purposes
and on all persons, including the Employer, the stockholders of the Employer, the Participants and their respective successors-in-interest.
No member of the Compensation Committee will be liable for any determination regarding the fair market value of the Common Stock that
is made in good faith.

 

“For Cause” shall
mean: (a) the Executive’s material breach of this Agreement, not substantially cured within ten (10) days’ written notice
of the breach to Executive; (b) a judicial finding in a civil context, or a conviction or entry of a guilty plea or plea of no contest
in a criminal context, with respect to theft, fraud, or misappropriation (or attempted misappropriation) by Executive of any of the Employer’s
funds or property; (c) controlled substance abuse, drug addiction or alcoholism which interferes with or materially affects the Executive’s
job performance, provided that an interactive dialogue and reasonable accommodation process have first been undertaken and exhausted,
consistent with the ADA; (d) gross negligence or wanton misconduct which materially and negatively affects the Employer, not substantially
cured within ten (10) days’ written notice to Executive; (e) any violation of any express written directions or any reasonable written
rule or regulation established by the Employer’s Board of Directors from time to time regarding the conduct of its business which
negatively affects the Employer, and which is/are not substantially cured within ten (10) days’ written notice to Executive, (f)
a conviction or entry of a guilty plea or plea of no contest with respect to a felony or other crime involving moral turpitude for which
imprisonment is a possible punishment.

 

“Good Reason”
shall mean, unless the Executive shall have consented thereto, any of the following: (i) a material reduction or material adverse change
in the Executive’s title, duties, authority, or responsibilities, which are inconsistent with the Executive’s position with
the Employer; (ii) the material breach by the Employer of any obligation under this Agreement; (iii) an instruction, directive or other
order to engage in an activity that is concluded to be unlawful in written advice of counsel, or (iv) the Employer, pursuant to or within
the meaning of Title 11, U.S. Code, or any similar Federal, foreign or state law for the relief of debtors, (A) commences a voluntary
case, (B) consents to the entry of an order for relief against it in an involuntary case, or (C) consents to the appointment of a receiver,
trustee, assignee, liquidator or similar official in the context of a bankruptcy filing. The Executive’s resignation shall not be
for “Good Reason” unless the Executive gives the Employer written notice of the grounds that the Executive asserts constitute
Good Reason, the Employer fails to remedy or cure those acts or omissions to the reasonable satisfaction of the Executive within thirty
(30) days after the Executive’s written notice and the Executive resigns within thirty (30) days after the end of the cure period.

 

    12

     

    

 

“Person” means
any individual, corporation (including any non-profit corporation), general or limited partnership, limited liability company, joint venture,
estate, trust, association, organization, or governmental body.

 

“Regulatory Issues”
include, but are not limited to any of the following: (i) Executive has ever been convicted of, or pled guilty or nolo contendere to,
a criminal offense of any kind other than civil or misdemeanor traffic offenses, (ii) Executive has ever been arrested, indicted or charged
with a criminal offense under any federal or state any kind, other than a civil or misdemeanor traffic offense, (iii) Executive has even
been charged with or convicted of violation of any controlled substance laws or any federal or state cannabis laws, (iv) Executive has
been named as a defendant in a civil or administrative lawsuit where the allegations would constitute a crime or would amount to fraud,
deceit or misrepresentation, excepting any suit that concluded with a merit finding in Executive’s favor, (v) Executive owes any
past taxes, fees or obligations to the United State government, any state or any political subdivision thereof, (vi) Executive has failed
to comply with any applicable laws or regulations relating to child support, (vii) Executive has been named as a defendant in any administrative
EEOC matter or named in a lawsuit alleging discrimination, harassment or hostile work environment, excepting any such matters that concluded
with a merit finding in Executive’s favor, (viii) a court, governmental agency or tribunal has determined that the Executive has
engaged in attempt to obtain a registration, license or approval to operate in any state by fraud, misrepresentation or the submission
of false information or (ix) Executive has ever been the subject to any denial, suspension or revocation of a license or registration
by any federal, state or local government, or any foreign jurisdiction, including without limitation, any denial, suspension, revocation
or refusal to renew certification for Medicare or Medicaid.

 

“Release” shall
mean a general release and waiver of claims, in a form acceptable to the Employer and Employee after review by their respective legal
counsel and provided to the Executive (or his estate as applicable) within five (5) days after termination, of any and all claims against
the Employer and all related parties with respect to matters arising out the Executive’s employment by the Employer, and the termination
thereof (other than claims for any entitlements under the terms of this Agreement or under any plans or programs of the Employer under
which the Executive has accrued and is due a benefit), exempting, the right to Directors’ and Officers’ insurance coverage,
the right to indemnification, defense, or exculpation as an officer or director of the Employer, and any claims that cannot be waived
or released as a matter of law.

 

“Release Effective Date”
means the date the Release becomes effective and irrevocable.

 

“RSU’s”
shall mean restricted stock units awarded in connection with Executive’s employment hereunder. All such RSU’s shall be subject
to the terms of a Restricted Stock Unit Agreement to be granted under and subject to the Employer’s 2019 Omnibus Incentive Plan,
subject to the exemptions outlined in Sections 2.1(a) and 2.2(b) of this Agreement.

 

“Trade Secrets or other
Confidential Information” shall mean, by way of example and without limitation, and in whatever medium, confidential information
concerning the Employer and its affiliates, employees, and clients, including marketing, investment, performance data, credit and financial
information, and other information concerning the business affairs of the Employer and its affiliates.

 

    13

     

    

 

9.2 409A
COMPLIANCE.

 

(a) This
Agreement and the amounts payable and other benefits provided under this Agreement are intended to comply with, or otherwise be exempt
from, the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), after giving effect
to the exemptions in Treasury Regulation section 1.409A-1(b)(3) through (b)(12). This Agreement shall be administered, interpreted and
construed in a manner consistent with Section 409A. If any provision of this Agreement is found not to comply with, or otherwise not be
exempt from, the provisions of Section 409A, it shall be modified and given effect, in the discretion of the Employer and without requiring
the Executive’s consent, in such manner as the Employer determines, based on the advice of competent legal counsel, to be necessary
or appropriate to comply, with or to effectuate an exemption from, Section 409A; provided, however, that in exercising its discretion
under this Section 9.2, the Employer shall modify this Agreement in the least restrictive manner necessary and without reducing
the economic value of payments or benefits due the Executive. Each payment under this Agreement shall be treated as a separate identified
payment for purposes of Section 409A.

 

(b) With
respect to any reimbursement of expenses of, or any provision of in-kind benefits to, the Executive, as specified under this Agreement
that constitutes deferred compensation under Section 409A, such reimbursement of expenses or provision of in-kind benefits shall be subject
to the following limitations: (i) the expenses eligible for reimbursement or the amount of in-kind benefits provided in one taxable year
shall not affect the expenses eligible for reimbursement or the amount of in-kind benefits provided in any other taxable year, except
for any medical reimbursement arrangements providing for the reimbursement of expenses referred to in Section 105 of the Internal Revenue
Code of 1986, as amended; (ii) the reimbursement of an eligible expense shall be made as specified in this Agreement and in no event later
than the end of the year after the year in which such expense was incurred and (iii) the right to reimbursement or in-kind benefit shall
not be subject to liquidation or exchange for another benefit.

 

(c) If
a payment obligation under this Agreement arises on account of the Executive’s termination of employment, it shall be payable only
after the Executive’s “separation from service” (determined in accordance with the default rules prescribed by Treasury
Regulation section 1.409A-1(h); provided, however, that if the Executive is a “specified employee” (determined in accordance
with the default rules prescribed by Treasury Regulation section 1.409A-1(i)), any such payment that is scheduled to be paid within six
months after such separation from service shall accrue without interest and shall be paid on the first day of the seventh (7th)
month beginning after the date of the Executive’s separation from service or, if earlier, within fifteen (15) days after the appointment
of the personal representative or executor of the Executive’s estate following the Executive’s death.

 

    14

     

    

 

9.3 KEY
MAN LIFE INSURANCE.

 

During the Term, the Employer
may at any time effect insurance on the Executive’s life and/or health in such amounts and in such form as the Employer may in its
sole discretion decide. Such insurance will paid for by and owned by the Employer for its own benefit and the Executive will not have
any interest in such insurance, but shall, at the Employer’s request, submit to such medical examinations, supply such information
and execute such documents as may be required in connection with, or so as to enable the Employer to effect, such insurance.

 

9.4 WAIVER.

 

The rights and remedies of
the parties to this Agreement are cumulative and not alternative. Neither the failure nor any delay by either party in exercising any
right, power, or privilege under this Agreement will operate as a waiver of such right, power, or privilege, and no single or partial
exercise of any such right, power, or privilege will preclude any other or further exercise of such right, power, or privilege or the
exercise of any other right, power, or privilege.

 

9.5 NOTICES.

 

All notices, consents, waivers,
and other communications under this Agreement must be in writing and will be deemed to have been duly given when (a) delivered by hand,
(b) sent by facsimile (with written confirmation of receipt), provided that a copy is mailed by registered mail, return receipt requested,
or (c) when received by the addressee, if sent by a nationally recognized overnight delivery service (receipt requested), in each case
to the appropriate addresses and facsimile numbers set forth below (or to such other addresses and facsimile numbers as a party may designate
by notice to the other parties):

 

	If to the Employer:	Andina Gold Corp.
	 	3531 South Logan St. Suite D-357
	 	Englewood, CO 80113
	 	 
	with a copy to:	Joseph P. Galda, Esquire
	 	40 East Montgomery Ave., LTW
	 	Ardmore, PA 19003
	 	 
	If to the Executive:	Christian Noël
	 	1835 rue du Sommet-Trinité
	 	Saint-Bruno, Qc, J3V 6E4
	 	 
	with a copy to:	François-David Paré
	 	Norton Rose Fulbright Canada S.E.N.C.R.L., s.r.l. / LLP
	 	1, Place Ville Marie, Bureau 2500
	 	Montréal, QC, H3B 1R1, Canada

 

9.6 ENTIRE
AGREEMENT; AMENDMENTS.

 

This Agreement and the documents
referenced herein, contain the entire agreement between the parties with respect to the subject matter hereof and supersede all prior
agreements and understandings, oral or written, between the parties hereto with respect to the subject matter hereof. This Agreement may
not be amended orally, but only by an agreement in writing signed by the parties hereto.

 

    15

     

    

 

9.7 GOVERNING
LAW.

 

This Agreement will be governed
by the laws of the State of Colorado without regard to conflicts of laws principles.

 

9.8 MEDIATION
AND ARBITRATION.

 

(a) In
the event of any dispute or controversy with respect to a Covered Claim, as defined below, the Parties shall first promptly try in good
faith to settle such dispute or controversy by mediation before resorting to arbitration. In the event such dispute or controversy remains
unresolved in whole or in part for a period of thirty (30) days after such mediation fails, the Parties will resolved the Covered Claim
in arbitration.

 

(b) Except
for claims expressly excluded by this Agreement, both the Executive and the Employer mutually agree to binding arbitration of any and
all disputes, claims or controversies that the Employer may have against the Executive or that the Executive may have against the Employer
which could be brought in a court arising out of this Agreement or the Executive’s relationship with the Employer, including, but
not limited to, all claims arising out of or relating to Executive’s employment with the Employer and the end of Executive’s
employment with the Employer (collectively, the “Covered Claims”). For purposes of this Section 9.8, “Employer”
shall mean Andina Gold Corp., or its parent, subsidiary, or affiliated companies or entities, and each of its and/or their employees,
officers, directors, and agents. Unless the Parties agree otherwise, the arbitration will be conducted before a single arbitrator and
governed by the rules of the American Arbitration Association’s (“AAA”) Employment Arbitration Rules and Mediation Procedures,
in effect as of the time of the demand for arbitration (the “AAA Rules”). The Executive may contact the AAA to request a copy
of the AAA Rules. Alternatively, the Executive may download a copy of the AAA Rules from the AAA website (http://www.adr.org/). The arbitration
shall be governed by the substantive and procedural provisions of the Federal Arbitration Act (“FAA”) to the fullest extent
permitted by law.

 

Covered Claims include, but
are not limited to, claims against the Employer, its current or former officers, directors, members, employees, vendors, clients, customers,
agents, parents, subsidiaries, affiliated companies, insurers, successors, and/or assigns, for, regarding and/or brought under: the Age
Discrimination in Employment Act; Title VII of the Civil Rights Act; the Fair Labor Standards Act; the Americans with Disabilities Act;
the Equal Pay Act; the Fair Credit Reporting Act; the Family and Medical Leave Act; the Pregnancy Discrimination Act; the Rehabilitation
Act; Section 1981 through 1988 of Title 42 of the United States Code; the Worker Adjustment and Retraining Notification Act; any federal,
state or local laws, regulations, or statutes prohibiting employment discrimination (such as, without limitation, race, sex, national
origin, ancestry, age, disability, religion, medical condition, marital status, sexual orientation, military status, public policy), harassment
of any kind, and unlawful retaliation; any alleged or actual agreement, contract or covenant (oral, written or implied) between Executive
and the Employer; claims for wages, related penalties and other compensation; claims for wrongful termination; tort claims; any Employer
policy or compensation or benefit plan, unless the decision in question was made by an entity other than the Employer; misappropriation
of trade secrets or unfair competition; violation of any public policy, including but not limited to, whistleblower claims; violation
of any other federal, state, or local law, ordinance or regulation; any claim based on any public policy, contract, tort, or common law;
any claim for costs, fees, or other expenses or relief, including personal, emotional, physical or economic injuries; and/or any claim
for attorney's fees. Except for claims expressly excluded by this Arbitration clause this Arbitration clause also applies to all claims
the Employer may have against Executive.

 

    16

     

    

 

Claims specifically not covered
by this Section are: (i) claims for worker’s compensation benefits; (ii) claims for unemployment compensation benefits; (iii) petitions
or charges that could be brought before the National Labor Relations Board or claims under a collective bargaining agreement; (iv) charges
filed with the Equal Employment Opportunity Commission or a similar government agency; (v) claims based upon any current (successor or
future) stock option plans, employee pension and/or welfare benefit plans if those plans contain some form of a grievance, arbitration,
or other procedure for the resolution of disputes under the plan; (vi) claims by law which are not subject to mandatory binding pre-dispute
arbitration pursuant to the Federal Arbitration Act, such as Claims under the Dodd-Frank Wall Street Reform Act

 

The decision of the arbitrator
will be final and binding upon the parties hereto. The arbitrator, and not any federal, state or local court or agency, shall have exclusive
authority to resolve any dispute relating to the interpretation, applicability, enforceability or formation of this Arbitration Agreement,
including, but not limited to, all defenses to contract enforcement such as, for example, waiver and unconscionability, and any claim
that all or any part of this arbitration provision is void or voidable.

 

Judgment can be entered on
the arbitrator’s award in any court having jurisdiction. The Parties acknowledge and agree that each Party shall bear its . mediation
costs. The Parties further acknowledge and agree that this arbitration policy does not change the remedies available to either Party;
Colorado law will govern the available remedies, as well as the Parties’ responsibility for attorney’s fees and litigation
costs. This agreement to arbitrate is freely negotiated between Employee and the Employer and is mutually entered into between the parties.
Each party fully understands and agrees that they are giving up certain rights otherwise afforded to them by civil court actions, including
but not limited to the right to a jury trial.

 

Notwithstanding the above,
the Employer shall be entitled to seek a restraining order or injunction in any court of competent jurisdiction with respect to any violation
of Section 7.

 

9.9 ASSIGNABILITY,
BINDING NATURE.

 

This Agreement shall be binding
upon and inure to the benefit of the parties and their respective successors, heirs (in the case of the Executive) and assigns. No rights
or obligations of the Executive under this Agreement may be assigned or transferred by the Executive other than his rights to compensation
and benefits, which may be transferred only by will, designation of beneficiary, or operation of law.

 

    17

     

    

 

9.10 SURVIVAL.

 

The respective rights and
obligations of the parties hereunder shall survive any termination of the Executive’s employment to the extent necessary to the
intended preservation of such rights and obligations.

 

9.11 REPRESENTATIONS
AND WARRANTIES.

 

The Executive represents and
warrants to the Employer as follows:

 

(a) The
execution and performance of this Agreement by the Executive shall not constitute a breach of any contract, agreement or understanding,
whether oral or written, to which he is a party or by which he is bound; nor is the Executive required to disclose to the Employer, or
use in the context of this employment, any confidential, privileged or trade secret protected information received by Executive in connection
with any prior employment or engagement.

 

(b) The
Executive has not engaged in conduct or is the subject of any disqualifying event under Rule 506 of Regulation D that would disqualify
the Employer from relying on Rule 506 of Regulation D as an exemption from registration of any sale of the Employer’s securities
under the Securities Act of 1933, as amended.

 

(c) The
Executive does not have any “Regulatory Issues” (as defined herein) that would jeopardize the Employer’s ability to
secure and maintain any local and state cannabis licenses or operate its business.

 

9.12 ACKNOWLEDGMENTS
OF EXECUTIVE.

 

The Executive hereby acknowledges
and certifies the following:

 

(a) That
he expressly understands, acknowledges, and agrees that some or all elements of the business of the Employer; that being, the cultivation,
distribution, manufacture and sale of marijuana, violate federal law, including, without limitation, the Controlled Substances Act, codified
at 21 U.S.C. §801 et seq.;

 

(b) That
he has read the terms of this Agreement, that he has been informed by the Employer that he should discuss it with an attorney of his choice,
and that he understands its terms and effects. The Executive further acknowledges that based on his training and experience, he has the
capacity to earn a livelihood by performing services as an employee or otherwise in a business that does not violate the provisions of
Section 7; and

 

(c) That
he understands, acknowledges, and agrees that solely due to the nature of the services to be rendered to the Employer, and mandated regulatory
requirements set forth in certain state cannabis laws in which the Employer may now or in the future operate, Executive may be required
to comport with cannabis laws reporting requirements, and Executive further represents and warrants to the Employer that he is under no
impediment (legal or otherwise) that would preclude him from doing so.

 

    18

     

    

 

9.13 SECTION
HEADINGS, CONSTRUCTION.

 

The headings of Sections in
this Agreement are provided for convenience only and will not affect its construction or interpretation. All references to “Section”
or “Sections” refer to the corresponding Section or Sections of this Agreement unless otherwise specified. All words used
in this Agreement will be construed to be of such gender or number as the circumstances require. Unless otherwise expressly provided,
the word “including” does not limit the preceding words or terms.

 

9.14 SEVERABILITY.

 

If any provision of this Agreement
is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Agreement will remain in full force
and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect
to the extent not held invalid or unenforceable.

 

9.15 COUNTERPARTS.

 

This Agreement may be executed
in one or more counterparts, each of which will be deemed to be an original copy of this Agreement and all of which, when taken together,
will be deemed to constitute one and the same agreement. This Agreement (and all other agreements, documents, instruments and certificates
executed and/or delivered in connection herewith) may be executed by facsimile signatures, each of which shall be deemed an original copy
of this Agreement (or other such agreement, document, instrument and certificate).

 

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IN WITNESS WHEREOF, the parties
have executed and delivered this Agreement as of the date first written above.

 

	 	EMPLOYER:
	 	 
	 	ANDINA GOLD CORP.

 

	 	By:	                      
	 	Philip B. Mullin
	 	Authorized Executive Officer

 

	 	EXECUTIVE:
	 	 
	 	Christian Noël
	 	 
	 	 

 

 

20

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