Document:

SusGlobal Energy Corp.: Exhibit 10.17 - Filed by newsfilecorp.com

    

    
        Exhibit 10.17

    

    

    November 15, 2021

    SusGlobal Energy Corp.
200 Davenport Road
Toronto, ON M5R 1J2

    SusGlobal Energy Canada Corp.
200 Davenport Road
Toronto, ON M5R 1J2

    SusGlobal Energy Canada I Ltd.
200 Davenport Road

    Toronto, ON M5R 1J2

    SusGlobal Energy Belleville Ltd.
200 Davenport Road

    Toronto, ON M5R 1J2

    Attention: Mr. Marc Hazout, Mr. Ike Makrimichalos

    Dear Sirs:

    RE: Pace Credit Union ("PACE") and SusGlobal Energy Corp. ("SEC), SusGlobal Energy Canada Corp. ("SECC"), SusGlobal Energy Canada I Ltd. ("SEC1L"), and SusGlobal Energy Belleville Ltd. ("SEBL") (collectively the "Borrowers")

    

    Recitals

    A. PACE and the Borrowers entered into Letter Agreements dated March 31, 2020, November 9, 2020 and February 18, 2021 (collectively the "Amending Letter Agreement"). All terms of the Letter Agreement1 remain in full force and effect, except as amended by this Amending Letter Agreement, and this Amending Letter Agreement is an Addendum to the Letter Agreement. All defined terms used herein, unless otherwise defined, shall be as defined in the Letter Agreement;

    B. As at November 15, 2021, the Borrowers are in arrears of payment with regard to the Credit Facility as follows:

    (i) Loan 45666: $207,979.38 (7 months)

    _________________________

    1 As defined in the Letter Agreement dated March 31, 2020 (and dated September 13, 2017, as amended)

    

    (ii) Loan 43145: $61,346.32 (7 months)

    (iii)Loan 45053: $34,307.84 (7 months)

    (the "Arrears")

    C. As at November 15, 2021, the Borrowers are indebted to PACE in the total sum of $5,023,555.99 (included accrued interest), as more particularly described at Schedule A"A" hereto (the "Indebtedness");

    D. PACE has issued a Letter of Credit #78 dated May 20, 2020, naming HMQ (Ontario) - Minister of the Environment, Conservation and Parks (the "Letter of Credit");

    E. PACE and the Borrowers have agreed to enter into this Amending Letter Agreement to permit the Borrowers time to complete a Financing and to pay the Indebtedness then owing in full .

    1. Definitions

    For the purposes of this Agreement, the following definitions shall apply:

    1. "Termination Date" September 30, 2022

    2. Acknowledgment

    The Borrower and the Guarantors hereby acknowledge and agree that the Letter Agreement and the Security are valid and binding on the Borrowers and, where applicable, the Guarantors.

    3. Terms

    This Agreement is subject to the following terms:

    1. Subject to PACE's rights herein and under the Letter Agreement, all Indebtedness is due in full following the Termination Date and the no further credit, forbearance nor indulgences will be provided thereafter.

    2. On execution of this Amending Letter Agreement, the Borrowers shall pay to PACE the sum of $303,633.54 in cleared and readily available funds, to be applied in permanent reduction of the Arrears.

    3. The Borrowers shall keep all payments current payments due for the remaining months under the Credit Facilities as follows:

    i. Loan 45666 (monthly amount: $29,711.34);

    ii. Loan 43145 (monthly amount: $8,763.76); and,

    iii. Loan 45053 (monthly amount: $4,901.12).

    

    4. So long as the Borrowers remain in compliance with the terms of this Agreement and do not commit an Event or Events of Default (as defined below), PACE agrees that it shall:

    (a) Treat all Credit Facilities with the Borrowers as if they are in good standing with PACE, subject to the provisions of the Letter Agreement, as modified by this Agreement;

    (b) Forbear from taking any action to demand repayment of the Credit Facilities and the Indebtedness, or to enforce its Security as against the Borrowers, until the Termination Date;

    (c) Not call the Credit Facilities prior to the Termination Date.

    5. The Letter of Credit is not being extended past the Termination Date.

    6. PACE acknowledges that its legal fees for matters relating to this Agreement are not for the Borrowers' account and do not form part of Indebtedness.

    4. Events of Default

    The following shall be considered Events of Default under the terms of this Agreement:

    1. The Borrowers are in breach of any terms of this Agreement, or in breach of the terms of the Credit Facilities or any other agreement with PACE, including, without limitation, the Security;

    2. The Borrowers fail to make any payments as required by the Letter Agreement, as amended by this Agreement;

    3. If, for any reason whatsoever, a creditor of the Borrowers holding security in priority or subordinate to the Security commences to enforce its security, or if any creditor of the Borrowers should obtain a judgment and/or a lien as against the Borrowers or its property;

    4. The Borrowers fail to pay the Indebtedness by the Termination Date. (singularly, an "Event of Default", collectively, "Events of Default")

    5. Notice

    Any notice, demand, approval, consent, waiver or other communication ("Notice") to be given by one party to another under this Agreement, shall be in writing and shall be sufficiently given if delivered personally, forwarded by registered mail or transmitted by facsimile transmission to such party as follows:

    

    In the case of the Borrowers:

    To the addresses as provided in this Agreement, with a copy to:

    Goodmans LLP
Bay Adelaide Centre

    333 Bay Street, Suite 3400
Toronto, ON M5H 2S7
Attention: Neill May

    Via E-Mail:

    In the case of PACE to:

    Pace Savings & Credit Union Limited
8111 Jane Street, Unit 1

    Vaughan, ON L4K 4L7
Attention: Paul Waters

    Via E-Mail:

    with a copy to:

    Harrison Pensa LLP
Barristers and Solicitors

    450 Talbot Street, P.O. Box 3237,
London, Ontario N6A 4K3
Attention: Tim Hogan

    Via e-mail:

    or to such other address or fax number as may be designated by Notice given as aforesaid to the other party by the party to whom Notice is to be given. Any Notice delivered and received as aforesaid shall be deemed to have been given and received on the first business day following the date of personal delivery, the forwarding by registered mail, or facsimile transmission, as the case may be.

    6. Acceptance

    This Agreement is open for acceptance until November 16, 2021 at 4 p.m. Should the Borrowers not accept this offer by the time indicated, the same shall become null and void and no longer binding on PACE.

    

    	 	 	PACE SAVINGS & CREDIT UNION LIMITED
	 	 	 	 	 
	 	 	Per: 	 	/s/
	 	 	 	 	
                Name:

                Title: Vice President

                Date: November 15, 2021

            
	 	 	I have authority to bind the Credit Union
	 	 	 	 	 
	 	 	Per:	 	/s/
	 	 	 	 	
                Name:

                Title: CFRO

                Date: November 15, 2021

            
	 	 	 	 	 
	 	 	I have authority to bind the Credit Union
	 	 	 	 	 
	 	 	SUSGLOBAL ENERGY CORP.
	 	 	 	 	 
	 	 	Per:	 	/s/ Marc Hazout
	 	 	 	 	
                Name: Marc Hazout

                Title: President and CEO

                Date: November 15, 2021

            
	 	 	 	 	 
	 	 	I have authority to bind the Corporation
	 	 	 	 	 
	 	 	SUSGLOBAL ENERGY CANADA CORP.
	 	 	 	 	 
	 	 	Per:	 	s/ Marc Hazout
	 	 	 	 	
                Name: Marc Hazout

                Title: President and CEO

                Date: November 15, 2021

            
	 	 	 	 	 
	 	 	I have authority to bind the Corporation

    

    
 

    	 	 	SUSGLOBAL ENERGY BELLEVILLE LTD.
	 	 	 	 	 
	 	 	Per: 	 	s/ Marc Hazout
	 	 	 	 	
                Name: Marc Hazout

                Title: President and CEO

                Date: November 15, 2021

            
	 	 	 
	 	 	
                I have authority to bind the Corporation

            
	 	 	 	 	 
	 	 	SUSGLOBAL ENERGY CANADA I LTD.
	 	 	 	 	 
	 	 	Per:	 	s/ Marc Hazout
	 	 	 	 	
                Name: Marc Hazout

                Title: President and CEO

                Date: November 15, 2021

            
	 	 	 	 	 
	 	 	I have authority to bind the Corporation
	 	 	 	 	 
	 	 	 	 	 
	Witness	 	Marc M. Hazout
	 	 	 	 	 
	 	 	 	 	 
	Witness	 	Ike Makrimichalos
	 	 	 	 	 
	 	 	 	 	 
	 	 	HAUTE INC.
	 	 	 	 	 
	 	 	Per:	 	s/ Marc Hazout
	 	 	 	 	
                Name: Marc Hazout

                Title: President and CEO

                Date: November 15, 2021

            
	 	 	 	 	 
	 	 	I have authority to bind the Corporation

    Schedule A - Indebtedness

    

    SCHEDULE A
INDEBTEDNESS

    INDEBTEDNESS OF THE BORROWERS AS AT NOVEMBER 15, 20212

    	
                 

            	
                TOTAL DUE

            
	
                Loan 45666

            	
                $3,437,779.82

            
	
                Loan 45053

            	
                $568,734.19

            
	
                Loan 43145

            	
                $1,017,041.98

            
	
                TOTAL

            	
                $5,023,555.99

            

    _________________________

    2 Plus all accruing interest to close.Exhibit 10.3

 

RHODIUM ENTERPRISES, INC.

 

 

 

2022 OMNIBUS INCENTIVE PLAN

 

 

 

Article
I

PURPOSE

 

The purpose of this Rhodium
Enterprises, Inc. 2022 Omnibus Incentive Plan is to promote the success of the Company’s business for the benefit of its stockholders
by enabling the Company to offer Eligible Individuals cash and stock-based incentives in order to attract, retain, and reward such individuals
and strengthen the mutuality of interests between such individuals and the Company’s stockholders. The Plan is effective as of the
date set forth in Article XVI.

 

Article
II

DEFINITIONS

 

For purposes of the Plan,
the following terms shall have the following meanings:

 

2.1 “Affiliate”
means a corporation or other entity controlled by, controlling, or under control with the Company. The term “control” (including,
with correlative meaning, the terms “controlled by” and “under common control with”), as applied to any person,
means the possession, directly or indirectly, of the power to direct or cause the direction of management and policies of such person,
whether through the ownership of voting or other securities, by contract or otherwise.

 

2.2 “Applicable
Law” means the requirements relating to the administration of equity-based awards and the related shares under U.S. state
corporate law, U.S. federal and state securities laws, the rules of any stock exchange or quotation system on which the shares are listed
or quoted, and any other applicable laws, including tax laws, of any U.S. or non-U.S. jurisdictions where Awards are, or will be, granted
under the Plan.

 

2.3 “Award”
means any award under the Plan of any Stock Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Units, Performance Award,
Other Stock-Based Award, Cash Award, or Rhodium Technologies LLC Award. All Awards shall be granted by, confirmed by, and subject to the
terms of a written or electronic agreement executed by the Company and the Participant.

 

2.4 “Award
Agreement” means the written or electronic agreement, contract, certificate, or other instrument or document evidencing
the terms and conditions of an individual Award. Each Award Agreement shall be subject to the terms and conditions of the Plan.

 

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

 

2.6 “Cash
Award” means an Award granted pursuant to Section 10.3 of the Plan and payable in cash at such time or times and subject
to such terms and conditions as determined by the Committee in its sole discretion.

 

2.7 “Cause”
means, unless otherwise determined by the Committee in the applicable Award Agreement, with respect to a Participant’s Termination
of Service, the following: (a) in the case where there is no employment agreement, offer letter, consulting agreement, change in control
agreement, or similar agreement in effect between the Company or an Affiliate and the Participant at the time of the grant of the Award
(or where there is such agreement in effect but it does not define “cause” (or words of like import)), the Participant’s
(i) commission of, or plea of guilty or no contest to, a felony or a crime involving moral turpitude or the commission of any other act
involving willful malfeasance or material fiduciary breach with respect to the Company or an Affiliate; (ii) substantial and repeated
failure to perform duties as reasonably directed by the person to whom the Participant reports; (iii) conduct that brings or is reasonably
likely to bring the Company or an Affiliate negative publicity or into public disgrace, embarrassment, or disrepute; (iv) gross negligence
or willful misconduct with respect to the Company or an Affiliate; (v) material violation of the Company’s written policies or codes
of conduct, including written policies related to discrimination, harassment, performance of illegal or unethical activities, or ethical
misconduct; or (vi) any breach of any non-competition, non-solicitation, no-hire, or confidentiality covenant between the Participant
and the Company or an Affiliate; or (b) in the case where there is an employment agreement, offer letter, consulting agreement, change
in control agreement, or similar agreement in effect between the Company or an Affiliate and the Participant at the time of the grant
of the Award that defines “cause” (or words of like import), “cause” as defined under such agreement; provided,
however, that with regard to any agreement under which the definition of “cause” only applies on occurrence of a change
in control, such definition of “cause” shall not apply until a change in control (as defined in such agreement) actually takes
place and then only with regard to a termination thereafter.

 

     

    

    

 

2.8 “Change
in Control” means and includes each of the following, unless otherwise determined by the Committee in the applicable Award
Agreement or other written agreement with a Participant approved by the Committee:

 

(a) any
“person,” as such term is used in Sections 13(d) and 14(d) of the Exchange Act (other than the Company, any trustee or other
fiduciary holding securities under any employee benefit plan of the Company, or any company owned, directly or indirectly, by the stockholders
of the Company in substantially the same proportions as their ownership of the Company), becoming the beneficial owner (as defined in
Rule 13d-3 under the Exchange Act), directly or indirectly, of securities
of the Company representing 50% or more of the combined voting power of the Company’s then outstanding securities, excluding for
purposes herein, acquisitions pursuant to a Business Combination (as defined below) that does not constitute a Change in Control as defined
in Section 2.8(b);

 

(b) a
merger, reorganization, or consolidation of the Company or in which equity securities of the Company are issued (each, a “Business
Combination”), other than a merger, reorganization or consolidation which would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities
of the surviving entity or its direct or indirect Parent) more than 50% of the combined voting power of the voting securities of the Company
or such surviving entity (or, as applicable, a direct or indirect Parent of the Company or such surviving entity) outstanding immediately
after such merger or consolidation; provided, however, that a merger or consolidation effected to implement a recapitalization
of the Company (or similar transaction) in which no person (other than those covered by the exceptions in Section 2.8(a)) acquires more
than 50% of the combined voting power of the Company’s then outstanding securities shall not constitute a Change in Control; or
a merger or consolidation of the Company with any other entity, other than a merger or consolidation which would result in the voting
securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted
into voting securities of the surviving entity or its direct or indirect Parent) more than 50% of the combined voting power of the voting
securities of the Company or such surviving entity (or, as applicable, a direct or indirect Parent of the Company or such surviving entity)
outstanding immediately after such merger or consolidation; provided, however, that a merger or consolidation effected to
implement a recapitalization of the Company (or similar transaction) in which no person (other than those covered by the exceptions in
Section 2.8(a)) acquires more than 50% of the combined voting power of the Company’s then outstanding securities shall not constitute
a Change in Control;

 

(c) during
the period of two (2) consecutive years, individuals who, at the beginning of such period, constitute the Board together with any new
director(s) (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described
in Sections 2.8(a) or (b)) whose election by the Board or nomination for election by the Company’s stockholders was approved by
a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the two (2) year period
or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof; or

 

(d) a
complete liquidation or dissolution of the Company or the consummation of a sale or disposition by the Company of all or substantially
all of the Company’s assets other than the sale or disposition of all or substantially all of the assets of the Company to a person
or persons who beneficially own, directly or indirectly, 50% or more of the combined voting power of the outstanding voting securities
of the Company at the time of the sale.

 

For purposes of this Section
2.8, acquisitions or dispositions of securities of the Company by Imperium, any of its respective affiliates, or any investment vehicle
or fund controlled by or managed by, or otherwise affiliated with Imperium shall not constitute a Change in Control. Notwithstanding the
foregoing, (i) with respect to any Award that is characterized as “nonqualified deferred compensation” within the meaning
of Section 409A of the Code, an event shall not be considered to be a Change in Control under the Plan for purposes of payment of such
Award unless such event is also a “change in ownership,” a “change in effective control,” or a “change in
the ownership of a substantial portion of the assets” of the Company within the meaning of Section 409A of the Code and (ii) with
respect to any Rhodium Technologies LLC Award, for purposes of this Section 2.8, the term “Company” shall be replaced with
“Rhodium Technologies LLC.”

 

2.9 “Change
in Control Price” means the highest price per Share paid in any transaction related to a Change in Control of the Company.

 

2.10 “Code”
means the U.S. Internal Revenue Code of 1986, as amended from time to time. Any reference to any section of the Code shall also be
a reference to any successor provision and any guidance and treasury regulation promulgated thereunder.

 

2.11 “Committee”
means any committee of the Board duly authorized by the Board to administer the Plan; provided, however, that unless otherwise
determined by the Board, the Committee shall consist solely of two or more Qualified Members. If no committee is duly authorized by the
Board to administer the Plan, the term “Committee” shall be deemed to refer to the Board for all purposes under the Plan.
The Board may abolish any Committee or re-vest in itself any previously delegated authority from time to time, and will retain the right
to exercise the authority of the Committee to the extent consistent with Applicable Law.

 

    2

    

    

 

2.12 “Common
Stock” means the Class A common stock, $0.0001 par value per share, of the Company.

 

2.13 “Company”
means Rhodium Enterprises, Inc., a Delaware corporation, and its successors by operation of law.

 

2.14 “Consultant”
means any natural person who is an advisor or consultant to the Company or any of its Affiliates.

 

2.15 “Disability”
means, unless otherwise determined by the Committee in the applicable Award Agreement, with respect to a Participant’s Termination
of Service, that the Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical
or mental impairment, after accounting for reasonable accommodations (if applicable and required by applicable law); provided,
however, for purposes of an Incentive Stock Option, the term Disability shall have the meaning ascribed to it under Section 22(e)(3)
of the Code. The determination of whether an individual has a Disability shall be determined by the Committee, and the Committee may rely
on any determination that a Participant is disabled for purposes of benefits under any long-term disability plan in which a Participant
participates that is maintained by the Company or any Affiliate.

 

2.16 “Dividend
Equivalents” means a right granted to a Participant under the Plan to receive the equivalent value (in cash or Shares) of
dividends paid on Shares.

 

2.17 “Effective
Date” means the effective date of the Plan as defined in Article XVI.

 

2.18 “Eligible
Employees” means each employee of the Company or any of its Affiliates. An employee on a leave of absence may be an Eligible
Employee.

 

2.19 “Eligible
Individual” means an Eligible Employee, Non-Employee Director, or Consultant who is designated by the Committee in its discretion
as eligible to receive Awards subject to the conditions set forth herein.

 

2.20 “Exchange
Act” means the Securities Exchange Act of 1934, as amended from time to time. Reference to a specific section of the Exchange
Act or regulation thereunder shall include such section or regulation, any valid regulation or interpretation promulgated under such section,
and any comparable provision of any future legislation or regulation amending, supplementing, or superseding such section or regulation.

 

2.21 “Fair
Market Value” means, for purposes of the Plan, unless otherwise required by any applicable provision of the Code or any
regulations issued thereunder, as of any date and except as provided below, the last sales price reported for the Common Stock on the
applicable date: (a) as reported on the principal national securities exchange in the United States on which it is then traded or (b)
if the Common Stock is not traded, listed, or otherwise reported or quoted, the Committee shall determine in good faith the Fair Market
Value in whatever manner it considers appropriate taking into account the requirements of Section 409A of the Code. For purposes of the
grant of any Award, the applicable date shall be the trading day immediately prior to the date on which the Award is granted. For purposes
of the exercise of any Award, the applicable date shall be the date a notice of exercise is received by the Committee or, if not a date
on which the applicable market is open, the next day that it is open. Notwithstanding the foregoing, with respect to any Award (excluding
any Rhodium Technologies LLC Award) granted on the pricing date of the Company’s initial public offering, the Fair Market Value
shall mean the initial public offering price of a Share as set forth in the Company’s final prospectus relating to its initial public
offering filed with the Securities and Exchange Commission. With respect to any Rhodium Technologies LLC Award, “Fair Market Value”
shall be determined in good faith in accordance with the terms of the LLC Agreement.

 

2.22 “Family
Member” means “family member” as defined in Section A.1.(a)(5) of the general instructions of Form S-8.

 

2.23 “Imperium”
means Imperium Investments Holdings LLC, a Wyoming limited liability company.

 

2.24 “Incentive
Stock Option” means any Stock Option that is awarded to an Eligible Employee who is an employee of the Company, its Subsidiaries,
or its Parents (if any) under the Plan and that is intended to be, and designated as, an “Incentive Stock Option” within the
meaning of Section 422 of the Code.

 

    3

    

    

 

2.25 “LLC Agreement”
means that certain Fifth Amended and Restated Limited Liability Company Agreement for Rhodium Technologies LLC, effective as of                   ,
2022, as amended, restated or otherwise modified from time to time.

 

2.26 “Non-Employee
Director” means a director or a member of the Board of the Company who is not an employee of the Company.

 

2.27 “Non-Qualified
Stock Option” means any Stock Option awarded under the Plan that is not an Incentive Stock Option.

 

2.28 “Other
Stock-Based Award” means an Award under Article X of the Plan that is valued in whole or in part by reference to, or is
payable in or otherwise based on, Shares.

 

2.29 “Parent”
means any parent corporation of the Company within the meaning of Section 424(e) of the Code.

 

2.30 “Participant”
means an Eligible Individual to whom an Award has been granted pursuant to the Plan.

 

2.31 “Performance
Award” means an Award granted to a Participant pursuant to Article IX hereof contingent upon achieving certain Performance
Goals.

 

2.32 “Performance
Goals” means goals established by the Committee as contingencies for Awards to vest and/or become exercisable or distributable.

 

2.33 “Performance
Period” means the designated period during which the Performance Goals must be satisfied with respect to the Award to which
the Performance Goals relate.

 

2.34 “Plan”
means this Rhodium Enterprises, Inc. 2022 Omnibus Incentive Plan, as amended from time to time.

 

2.35 “Qualified
Member” means a member of the Board who is (a) a “non-employee director” within the meaning of Rule 16b-3(b)(3),
and (b) “independent” under the listing standards or rules of the securities exchange upon which the Common Stock is traded,
but only to the extent such independence is required in order to take the action at issue pursuant to such standards or rules.

 

2.36 “Restricted
Stock” means an Award of Shares under the Plan that is subject to restrictions under Article VIII.

 

2.37 “Restricted
Stock Units” means an unfunded, unsecured right to receive, on the applicable settlement date, one Share or an amount in
cash or other consideration determined by the Committee to be of equal value as of such settlement date, subject to certain vesting conditions
and other restrictions.

 

2.38 “Restriction
Period” has the meaning set forth in Section 8.3(a) with respect to Restricted Stock.

 

2.39 “Rhodium
Technologies LLC” means Rhodium Technologies LLC, a Delaware limited liability company.

 

2.40 “Rhodium
Technologies LLC Award” means any award described in Article XI.

 

    4

    

    

 

2.41 “Rhodium
Technologies LLC Incentive Unit” means an “Incentive Unit” of Rhodium Technologies LLC as defined in the LLC
Agreement.

 

2.42 “Rhodium
Technologies LLC Unit” means a “Unit” of Rhodium Technologies LLC as defined in the LLC Agreement.

 

2.43 “Rule
16b-3” means Rule 16b-3 under Section 16(b) of the Exchange Act as then in effect or any successor provision.

 

2.44
“Section 409A of the Code” means the nonqualified deferred compensation rules under Section 409A of the Code and
any applicable treasury regulations and other official guidance thereunder.

 

2.45 “Securities
Act” means the Securities Act of 1933, as amended, and all rules and regulations promulgated thereunder. Reference to a
specific section of the Securities Act or regulation thereunder shall include such section or regulation, any valid regulation or interpretation
promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing, or superseding
such section or regulation.

 

2.46 “Shares”
means shares of Common Stock or Rhodium Technologies LLC Units, as applicable.

 

2.47 “Stock
Appreciation Right” shall mean the right granted pursuant to an Award granted under Article VII.

 

2.48 “Stock
Option” or “Option” means any option to purchase Shares granted to Eligible Individuals granted
pursuant to Article VI.

 

2.49 “Subsidiary”
means any subsidiary corporation of the Company within the meaning of Section 424(f) of the Code.

 

2.50 “Ten
Percent Stockholder” means a person owning stock possessing more than ten percent (10%) of the total combined voting power
of all classes of stock of the Company, its Subsidiaries or its Parent.

 

2.51 “Termination
of Service” means the termination of the applicable Participant’s employment with, or performance of services for,
the Company and its Affiliates. Unless otherwise determined by the Committee, (a) if a Participant’s employment or services with
the Company and its Affiliates terminates but such Participant continues to provide services to the Company and its Affiliates in a non-employee
capacity, such change in status shall not be deemed a Termination of Service with the Company and its Affiliates and (b) a Participant
employed by, or performing services for an Affiliate that ceases to be an Affiliate shall also be deemed to have incurred a Termination
of Service provided the Participant does not immediately thereafter become an employee of the Company or another Affiliate. Notwithstanding
the foregoing provisions of this definition, with respect to any Award that constitutes a “nonqualified deferred compensation plan”
within the meaning of Section 409A of the Code, a Participant shall not be considered to have experienced a “Termination of
Service” unless the Participant has experienced a “separation from service” within the meaning of Section 409A
of the Code.

 

    5

    

    

 

Article
III

ADMINISTRATION

 

3.1 Authority
of the Committee. The Plan shall be administered by the Committee. Subject to the terms of the Plan and Applicable Law, the Committee
shall have full authority to grant Awards to Eligible Individuals under the Plan. In particular, the Committee shall have the authority
to:

 

(a) determine
whether and to what extent Awards, or any combination thereof, are to be granted hereunder to one or more Eligible Individuals;

 

(b) determine
the number of Shares to be covered by each Award granted hereunder;

 

(c) determine
the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder (including, but not limited to,
the exercise or purchase price (if any), any restriction or limitation, any vesting schedule or acceleration thereof, or any forfeiture
restrictions or waiver thereof, regarding any Award and the Shares relating thereto, based on such factors, if any, as the Committee shall
determine, in its sole discretion);

 

(d) determine
the amount of cash to be covered by each Award granted hereunder;

 

(e) determine
whether, to what extent, and under what circumstances grants of Options and other Awards under the Plan are to operate on a tandem basis
and/or in conjunction with or apart from other awards made by the Company outside of the Plan;

 

(f) determine
whether and under what circumstances an Award may be settled in cash, Shares, other property, or a combination of the foregoing;

 

(g) determine
whether, to what extent and under what circumstances cash, Shares, or other property and other amounts payable with respect to an Award
under the Plan shall be deferred either automatically or at the election of the Participant;

 

(h) modify,
waive, amend, or adjust the terms and conditions of any Award, at any time or from time to time, including but not limited to Performance
Goals;

 

(i) determine
whether a Stock Option is an Incentive Stock Option or Non-Qualified Stock Option;

 

(j) determine
whether to require a Participant, as a condition of the granting of any Award, to not sell or otherwise dispose of Shares acquired pursuant
to the exercise or vesting of an Award for a period of time as determined by the Committee, in its sole discretion, following the date
of the acquisition of such Award or Shares; and

 

(k) modify,
extend, or renew an Award, subject to Article XIII and Section 6.3(l).

 

    6

    

    

 

3.2 Guidelines.
Subject to Article XIII hereof, the Committee shall have the authority to adopt, alter, and repeal such administrative rules, guidelines,
and practices governing the Plan and perform all acts, including the delegation of its responsibilities (to the extent permitted by Applicable
Law and applicable stock exchange rules), as it shall, from time to time, deem advisable; to construe and interpret the terms and provisions
of the Plan and any Award issued under the Plan (and any agreements or sub-plans relating thereto); and to otherwise supervise the administration
of the Plan. The Committee may correct any defect, supply any omission, or reconcile any inconsistency in the Plan or in any agreement
relating thereto in the manner and to the extent it shall deem necessary to effectuate the purpose and intent of the Plan. The Committee
may adopt special rules, sub-plans, guidelines, and provisions for persons who are residing in or employed in, or subject to, the taxes
of any domestic or foreign jurisdictions to satisfy or accommodate applicable foreign laws or to qualify for preferred tax treatment of
such domestic or foreign jurisdictions.

 

3.3 Decisions
Final. Any decision, interpretation, or other action made or taken in good faith by or at the direction of the Company, the Board,
or the Committee (or any of its members) arising out of or in connection with the Plan shall be within the absolute discretion of all
and each of them, as the case may be, and shall be final, binding, and conclusive on the Company and all employees and Participants and
their respective heirs, executors, administrators, successors, and assigns.

 

3.4 Procedures.
If the Committee is appointed, the Board shall designate one of the members of the Committee as chairman and the Committee shall hold
meetings, subject to the by-laws of the Company, at such times and places as it shall deem advisable, including, without limitation, by
telephone conference or by written consent to the extent permitted by Applicable Law. A majority of the Committee members shall constitute
a quorum. All determinations of the Committee shall be made by a majority of its members. Any decision or determination reduced to writing
and signed by all of the Committee members in accordance with the by-laws of the Company, shall be fully effective as if it had been made
by a vote at a meeting duly called and held. The Committee shall keep minutes of its meetings and shall make such rules and regulations
for the conduct of its business as it shall deem advisable.

 

3.5 Designation
of Consultants/Liability; Delegation of Authority.

 

(a) The
Committee may designate employees of the Company and professional advisors to assist the Committee in the administration of the Plan and
(to the extent permitted by Applicable Law) may grant authority to officers of the Company to grant Awards and/or execute agreements or
other documents on behalf of the Committee.

 

(b) The
Committee may employ such legal counsel, consultants, and agents as it may deem desirable for the administration of the Plan and may rely
upon any opinion received from any such counsel or consultant and any computation received from any such consultant or agent. Expenses
incurred by the Committee or the Board in the engagement of any such counsel, consultant, or agent shall be paid by the Company. The Committee,
its members, and any person designated pursuant to sub-section (a) above shall not be liable for any action or determination made in good
faith with respect to the Plan. To the maximum extent permitted by Applicable Law, no officer of the Company or member or former member
of the Committee or of the Board shall be liable for any action or determination made in good faith with respect to the Plan or any Award
granted under it.

 

(c) The
Committee may delegate any or all of its powers and duties under the Plan to a subcommittee of directors or to any officer of the Company,
including the power to perform administrative functions and grant Awards; provided, that such delegation does not (i) violate Applicable
Law, or (ii) result in the loss of an exemption under Rule 16b-3(d)(1) for Awards granted to Participants subject to Section 16 of the
Exchange Act in respect of the Company. Upon any such delegation, all references in the Plan to the “Committee,” shall be
deemed to include any subcommittee or officer of the Company to whom such powers have been delegated by the Committee. Any such delegation
shall not limit the right of such subcommittee members or such an officer to receive Awards; provided, however, that such
subcommittee members and any such officer may not grant Awards to himself or herself, a member of the Board, or any executive officer
of the Company or an Affiliate, or take any action with respect to any Award previously granted to himself or herself, a member of the
Board, or any executive officer of the Company or an Affiliate. The Committee may also appoint agents who are not executive officers of
the Company or members of the Board to assist in administering the Plan, provided, however, that such individuals may not
be delegated the authority to grant or modify any Awards that will, or may, be settled in Shares.

 

    7

    

    

 

3.6 Indemnification.
To the maximum extent permitted by Applicable Law and to the extent not covered by insurance directly insuring such person, each officer
or employee of the Company or any of its Affiliates and member or former member of the Committee or the Board shall be indemnified and
held harmless by the Company against any cost or expense (including reasonable fees of counsel acceptable to the Committee) or liability
(including any sum paid in settlement of a claim with the approval of the Committee), and advanced amounts necessary to pay the foregoing
at the earliest time and to the fullest extent permitted, arising out of any act or omission to act in connection with the administration
of the Plan, except to the extent arising out of such officer’s, employee’s, member’s, or former member’s own
fraud or bad faith. Such indemnification shall be in addition to any right of indemnification the employees, officers, directors, or members
or former officers, directors, or members may have under Applicable Law or under the by-laws of the Company or any of its Affiliates.
Notwithstanding anything else herein, this indemnification will not apply to the actions or determinations made by an individual with
regard to Awards granted to such individual under the Plan.

 

Article
IV

SHARE LIMITATION

 

4.1 Shares.

 

(a) The
aggregate number of Shares that may be issued or used for reference purposes or with respect to which Awards may be granted under the
Plan shall not exceed              Shares (subject to any increase or decrease pursuant to this Article IV), which may be either authorized
and unissued Shares or Shares held in or acquired for the treasury of the Company or both. The number of Shares that may be issued or
used for reference purposes or with respect to which Awards may be granted under the Plan shall be subject to an annual increase on the
first day of each calendar year beginning            , and ending and including           , equal to the lesser of (a)            % of the
aggregate number of shares of Common Stock and shares of Class B common stock of the Company outstanding on the final day of the immediately
preceding calendar year and (b) such smaller number of Shares as is determined by the Board. Rhodium Technologies LLC Awards granted under
the Plan shall (a) reduce the number of Shares that may be issued or used for reference purposes or with respect to which Awards may be
granted under the Plan on a one-for-one basis (i.e., each Rhodium Technologies LLC Unit or Rhodium Technologies LLC Incentive Unit, as
applicable, subject to a Rhodium Technologies LLC Award shall be treated as one share of Common Stock) and (b) be delivered, if applicable,
in accordance with the LLC Agreement. Any Shares granted in connection with Options and Stock Appreciation Rights shall be counted against
this limit as one (1) share for every one (1) Option or Stock Appreciation Right Award. Any Shares granted in connection with Awards other
than Options and Stock Appreciation Rights shall be counted against this limit as two (2) Shares for every one (1) Share granted in connection
with such Award. The aggregate number of Shares that may be issued or used with respect to any Incentive Stock Option shall not exceed
           Shares (subject to any increase or decrease pursuant to Section 4.1(a)). Any Shares that again become available for future grants
pursuant to this Section 4.1 shall be added back as one (1) share if such Shares were subject to Options or Stock Appreciation Rights
and as two (2) shares if such Shares were subject to other Awards. Notwithstanding anything to the contrary contained herein, Shares subject
to an Award under the Plan shall again be made available for issuance or delivery under the Plan if such Shares are (A) Shares tendered
in payment of an Option, (B) Shares delivered or withheld by the Company to satisfy any tax withholding obligation, (C) Shares covered
by a stock-settled Stock Appreciation Right or other Awards that were not issued upon the settlement of the Award, or (D) Shares subject
to an Award that expires or is canceled, forfeited, or terminated without issuance of the full number of Shares to which the Award related.

 

(b) Any
Award under the Plan settled in cash shall not be counted against the maximum share limitations in Section 4.1(a) or Section 5.4. Any
Shares subject to an Award that expires or is canceled, forfeited, or terminated without issuance of the full number of Shares to which
the Award related will again be available for issuance under the Plan.

 

4.2 Substitute
Awards. In connection with an entity’s merger or consolidation with the Company or the Company’s acquisition of an
entity’s property or stock, the Committee may grant Awards in substitution for any options or other stock or stock-based awards
granted before such merger or consolidation by such entity or its Affiliate (“Substitute Awards”). Substitute Awards
may be granted on such terms as the Committee deems appropriate, notwithstanding limitations on Awards in the Plan. Substitute Awards
will not count against the overall share limit (nor shall Shares subject to a Substitute Award be added to the Shares available for Awards
under the Plan as provided above), except that Shares acquired by exercise of substitute Incentive Stock Options will count against the
maximum number of Shares that may be issued pursuant to the exercise of Incentive Stock Options under the Plan. Additionally, in the event
that a company acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines has shares available under
a pre-existing plan approved by stockholders and not adopted in contemplation of such acquisition or combination, the shares available
for grants pursuant to the terms of such pre-existing plan (as adjusted, to the extent appropriate, using the exchange ratio or other
adjustment or valuation ratio or formula used in such acquisition or combination to determine the consideration payable to the holders
of common stock of the entities party to such acquisition or combination) may be used for Awards under the Plan and shall not reduce the
Shares authorized for grant under the Plan (and Shares subject to such Awards shall not be added to the Shares available for Awards under
the Plan as provided above); provided that Awards using such available shares shall not be made after the date awards or grants could
have been made under the terms of the pre-existing plan, absent the acquisition or combination, and shall only be made to individuals
who were not Eligible Employees or Non-Employee Directors prior to such acquisition or combination.

 

    8

    

    

 

4.3 Adjustments.

 

(a) The
existence of the Plan and the Awards granted hereunder shall not affect in any way the right or power of the Board or the stockholders
of the Company or Rhodium Technologies LLC to make or authorize (i) any adjustment, recapitalization, reorganization, or other change
in the Company’s or Rhodium Technologies LLC’s capital structure or its business, (ii) any merger or consolidation of the
Company, Rhodium Technologies LLC or any of their Affiliates, (iii) any issuance of bonds, debentures, or preferred or prior preference
stock ahead of or affecting the Shares, (iv) the dissolution or liquidation of the Company, Rhodium Technologies LLC or any of their Affiliates,
(v) any sale or transfer of all or part of the assets or business of the Company, Rhodium Technologies LLC or any of their Affiliates,
or (vi) any other corporate act or proceeding.

 

(b) Subject
to the provisions of Section 12.1:

 

(i) If
the Company or Rhodium Technologies LLC at any time subdivides (by any split, recapitalization or otherwise) the outstanding Shares into
a greater number of Shares, or combines (by reverse split, combination, or otherwise) its outstanding Shares into a lesser number of Shares,
then the respective exercise prices for outstanding Awards that provide for a Participant-elected exercise and the number of Shares covered
by outstanding Awards shall be appropriately adjusted by the Committee to prevent dilution or enlargement of the rights granted to, or
available for, Participants under the Plan.

 

(ii) Excepting
transactions covered by Section 4.3(b)(i), if the Company or Rhodium Technologies LLC effects any merger, consolidation, statutory exchange,
spin-off, reorganization, sale or transfer of all or substantially all the Company’s or Rhodium Technologies LLC’s assets
or business, or other corporate transaction or event in such a manner that the Company’s or Rhodium Technologies LLC’s outstanding
Shares are converted into the right to receive (or the holders of Common Stock are entitled to receive in exchange therefor), either immediately
or upon liquidation of the Company or Rhodium Technologies LLC, securities or other property of the Company, Rhodium Technologies LLC
or other entity, then, subject to the provisions of Section 12.1, (A) the aggregate number or kind of securities that thereafter may be
issued under the Plan, (B) the number or kind of securities or other property (including cash) to be issued pursuant to Awards granted
under the Plan (including as a result of the assumption of the Plan and the obligations hereunder by a successor entity, as applicable),
or (C) the exercise or purchase price thereof, shall be appropriately adjusted by the Committee to prevent dilution or enlargement of
the rights granted to, or available for, Participants under the Plan.

 

(iii) If
there shall occur any change in the capital structure of the Company or Rhodium Technologies LLC other than those covered by Section 4.3(b)(i)
or 4.3(b)(ii), any conversion, any adjustment, or any issuance of any class of securities convertible or exercisable into, or exercisable
for, any class of equity securities of the Company or Rhodium Technologies LLC, then the Committee shall adjust any Award and make such
other adjustments to the Plan to prevent dilution or enlargement of the rights granted to, or available for, Participants under the Plan.

 

(iv) The
Committee may adjust the Performance Goals applicable to any Awards to reflect any unusual or non-recurring events and other extraordinary
items, impact of charges for restructurings, discontinued operations, and the cumulative effects of accounting or tax changes, each as
defined by generally accepted accounting principles or as identified in the Company’s financial statements, notes to the financial
statements, management’s discussion and analysis, or other Company public filing.

 

(v) Any
such adjustment determined by the Committee pursuant to this Section 4.3(b) shall be final, binding, and conclusive on the Company and
all Participants and their respective heirs, executors, administrators, successors, and permitted assigns. Any adjustment to, or assumption
or substitution of, an Award under this Section 4.3(b) shall be intended to comply with the requirements of Section 409A of the Code and
Treasury Regulation §1.424-1 (and any amendments thereto), to the extent applicable. Except as expressly provided in this Section
4.3 or in the applicable Award Agreement, a Participant shall have no additional rights under the Plan by reason of any transaction or
event described in this Section 4.3.

 

    9

    

    

 

Article
V

ELIGIBILITY AND LIMITATIONS

 

5.1 General
Eligibility. All current and prospective Eligible Individuals are eligible to be granted Awards. Eligibility for the grant of
Awards and actual participation in the Plan shall be determined by the Committee in its sole discretion.

 

5.2 Incentive
Stock Options. Notwithstanding the foregoing, only Eligible Employees who are employees of the Company, its Subsidiaries, or its
Parents (if any) are eligible to be granted Incentive Stock Options under the Plan. Eligibility for the grant of an Incentive Stock Option
and actual participation in the Plan shall be determined by the Committee in its sole discretion.

 

5.3 General
Requirement. The vesting and exercise of Awards granted to a prospective Eligible Individual are conditioned upon such individual
actually becoming an Eligible Employee, Consultant, or Non-Employee Director, as applicable.

 

5.4 Limit
on Non-Employee Director Compensation. In each calendar year during any part of which the Plan is in effect, a Non-Employee Director
may not receive Awards for such individual’s service on the Board that, taken together with any cash fees paid to such Non-Employee
Director during such calendar year for such individual’s service on the Board, have a value in excess of $           (calculating
the value of any such Awards based on the grant date fair value of such Awards for financial reporting purposes); provided, however,
that (a) the Committee may make exceptions to this limit, except that the Non-Employee Director receiving such additional compensation
may not participate in the decision to award such compensation and (b) for any calendar year in which a Non-Employee Director (i) first
commences service on the Board, (ii) serves on a special committee of the Board, or (iii) serves as lead director or non-executive chair
of the Board, additional compensation may be provided to such Non-Employee Director in excess of such limit; provided, further,
that the limit set forth in this Section 5.4 shall be applied without regard to Awards or other compensation, if any, provided to a Non-Employee
Director during any period in which such individual was an employee of the Company or any Affiliate or was otherwise providing services
to the Company or to any Affiliate other than in the capacity as a Non-Employee Director.

 

Article
VI

STOCK OPTIONS

 

6.1 Options.
Stock Options may be granted alone or in addition to other Awards granted under the Plan. Each Stock Option granted under the Plan shall
be of one of two types: (a) an Incentive Stock Option or (b) a Non-Qualified Stock Option.

 

6.2 Grants.
The Committee shall have the authority to grant to any Eligible Employee one or more Incentive Stock Options, Non-Qualified Stock Options,
or both types of Stock Options; provided, however, that Incentive Stock Options may only be granted to an Eligible Employee
who is an employee of the Company, its Subsidiaries, or its Parents (if any). The Committee shall have the authority to grant any Consultant
or Non-Employee Director one or more Non-Qualified Stock Options. To the extent that any Stock Option does not qualify as an Incentive
Stock Option (whether because of its provisions or the time or manner of its exercise or otherwise), such Stock Option or the portion
thereof which does not so qualify shall constitute a separate Non-Qualified Stock Option.

 

6.3 Terms
of Options. Options granted under the Plan shall be evidenced by an Award Agreement and subject to the following terms and conditions
and shall be in such form and contain such additional terms and conditions not inconsistent with the terms of the Plan, as the Committee
shall deem desirable:

 

(a) Exercise
Price. The exercise price per Share subject to a Stock Option shall be determined by the Committee at the time of grant, provided
that the per share exercise price of a Stock Option shall not be less than 100% (or, in the case of an Incentive Stock Option granted
to a Ten Percent Stockholder, 110%) of the Fair Market Value at the time of grant.

 

    10

    

    

 

(b) Stock
Option Term. The term of each Stock Option shall be fixed by the Committee, provided that no Stock Option shall be exercisable
more than ten (10) years (or, in the case of an Incentive Stock Option granted to a Ten Percent Stockholder, five (5) years) after the
date the Option is granted.

 

(c) Exercisability.
Unless otherwise provided by the Committee in accordance with the provisions of this Section 6.3, Stock Options granted under the Plan
shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by the Committee at the time
of grant. The Committee may, but shall not be required to, provide for an acceleration of vesting and exercisability in the terms of any
Award Agreement upon the occurrence of a specified event.

 

(d) Method
of Exercise. Subject to whatever installment exercise and waiting period provisions apply under Section 6.3(c), to the extent vested,
Stock Options may be exercised in whole or in part at any time during the Option term, by giving written notice of exercise (which may
be electronic) to the Company specifying the number of Shares to be purchased. Such notice shall be accompanied by payment in full of
the exercise price (which shall equal the product of such number of Shares to be purchased multiplied by the applicable exercise price).
The exercise price for the Stock Options may be paid upon such terms and conditions as shall be established by the Committee and set forth
in the applicable Award Agreement. Without limiting the foregoing, the Committee may establish payment terms for the exercise of Stock
Options pursuant to which the Company may withhold a number of Shares that otherwise would be issued to the Participant in connection
with the exercise of the Stock Option having a Fair Market Value on the date of exercise equal to the exercise price, or that permit the
Participant to deliver cash or Shares with a Fair Market Value equal to the exercise price on the date of payment, or through a simultaneous
sale through a broker of Shares acquired on exercise, all as permitted by Applicable Law. No Shares shall be issued until payment therefor,
as provided herein, has been made or provided for.

 

(e) Non-Transferability
of Options. No Stock Option shall be transferable by the Participant other than by will or by the laws of descent and distribution,
and all Stock Options shall be exercisable, during the Participant’s lifetime, only by the Participant. Notwithstanding the foregoing,
the Committee may determine, in its sole discretion, at the time of grant or thereafter that a Non-Qualified Stock Option that is otherwise
not transferable pursuant to this Section is transferable to a Family Member in whole or in part and in such circumstances, and under
such conditions, as specified by the Committee. A Non-Qualified Stock Option that is transferred to a Family Member pursuant to the preceding
sentence (i) may not be subsequently transferred other than by will or by the laws of descent and distribution and (ii) remains subject
to the terms of the Plan and the applicable Award Agreement. Any Shares acquired upon the exercise of a Non-Qualified Stock Option by
a permissible transferee of a Non-Qualified Stock Option or a permissible transferee pursuant to a transfer after the exercise of the
Non-Qualified Stock Option shall be subject to the terms of the Plan and the applicable Award Agreement.

 

(f) Termination
by Death or Disability. Unless otherwise provided in the applicable Award Agreement, or otherwise determined by the Committee at the
time of grant or, if no rights of the Participant are reduced, thereafter, if a Participant’s Termination of Service is by reason
of death or Disability, all Stock Options that are held by such Participant that are vested and exercisable at the time of the Participant’s
Termination of Service may be exercised by the Participant (or in the case of the Participant’s death, by the legal representative
of the Participant’s estate) at any time within a period of one (1) year from the date of such Termination of Service, but in no
event beyond the expiration of the stated term of such Stock Options; provided, however, that, in the event of a Participant’s
Termination of Service by reason of Disability, if the Participant dies within such exercise period, all unexercised Stock Options held
by such Participant shall thereafter be exercisable, to the extent to which they were exercisable at the time of death, for a period of
one (1) year from the date of such death, but in no event beyond the expiration of the stated term of such Stock Options.

 

(g) Involuntary
Termination Without Cause. Unless otherwise provided in the applicable Award Agreement or otherwise determined by the Committee at
the time of grant or, if no rights of the Participant are reduced, thereafter, if a Participant’s Termination of Service is by involuntary
termination by the Company without Cause, all Stock Options that are held by such Participant that are vested and exercisable at the time
of the Participant’s Termination of Service may be exercised by the Participant at any time within a period of ninety (90) days
from the date of such Termination of Service, but in no event beyond the expiration of the stated term of such Stock Options.

 

(h) Voluntary
Resignation. Unless otherwise provided in the applicable Award Agreement or otherwise determined by the Committee at the time of grant
or, if no rights of the Participant are reduced, thereafter, if a Participant’s Termination of Service is voluntary (other than
a voluntary termination described in Section 6.3(i) hereof), all Stock Options that are held by such Participant that are vested and exercisable
at the time of the Participant’s Termination of Service may be exercised by the Participant at any time within a period of thirty
(30) days from the date of such Termination of Service, but in no event beyond the expiration of the stated term of such Stock Options.

 

    11

    

    

 

(i) Termination
for Cause. Unless otherwise provided in the applicable Award Agreement or determined by the Committee at the time of grant, or if
no rights of the Participant are reduced, thereafter, if a Participant’s Termination of Service (x) is for Cause or (y) is a voluntary
Termination of Service (as provided in Section 6.3(h)) after the occurrence of an event that would be grounds for a Termination of Service
for Cause, all Stock Options, whether vested or not vested, that are held by such Participant shall thereupon immediately terminate and
expire as of the date of such Termination of Service.

 

(j) Unvested
Stock Options. Unless otherwise provided in the applicable Award Agreement or determined by the Committee at the time of grant or,
if no rights of the Participant are reduced, thereafter, Stock Options that are not vested as of the date of a Participant’s Termination
of Service for any reason shall terminate and expire as of the date of such Termination of Service.

 

(k) Incentive
Stock Option Limitations. To the extent that the aggregate Fair Market Value (determined as of the time of grant) of the Shares with
respect to which Incentive Stock Options are exercisable for the first time by an Eligible Employee during any calendar year under the
Plan and/or any other stock option plan of the Company, any Subsidiary, or any Parent exceeds $100,000, such Options shall be treated
as Non-Qualified Stock Options. In addition, if an Eligible Employee does not remain employed by the Company, any Subsidiary, or any Parent
at all times from the time an Incentive Stock Option is granted until three (3) months prior to the date of exercise thereof (or such
other period as required by Applicable Law), such Stock Option shall be treated as a Non-Qualified Stock Option. Should any provision
of the Plan not be necessary in order for the Stock Options to qualify as Incentive Stock Options, or should any additional provisions
be required, the Committee may amend the Plan accordingly, without the necessity of obtaining the approval of the stockholders of the
Company.

 

(l) Modification,
Extension and Renewal of Stock Options. The Committee may (i) modify, extend, or renew outstanding Stock Options granted under
the Plan (provided, that the rights of a Participant are not reduced without such Participant’s consent and provided,
further that such action does not subject the Stock Options to Section 409A of the Code without the consent of the Participant),
and (ii) accept the surrender of outstanding Stock Options (to the extent not theretofore exercised) and authorize the granting of new
Stock Options in substitution therefor (to the extent not theretofore exercised). Notwithstanding the foregoing, an outstanding Option
may not be modified to reduce the exercise price thereof nor may a new Option at a lower price be substituted for a surrendered Option
(other than adjustments or substitutions in accordance with Article IV), unless such action is approved by the stockholders of the Company.

 

(m) Other
Terms and Conditions. The Committee may include a provision in an Award Agreement providing for the automatic exercise of a Non-Qualified
Stock Option on a cashless basis on the last day of the term of such Option if the Participant has failed to exercise the Non-Qualified
Stock Option as of such date, with respect to which the Fair Market Value of the Shares underlying the Non-Qualified Stock Option exceeds
the exercise price of such Non-Qualified Stock Option on the date of expiration of such Option, subject to Section 15.4. Stock Options
may contain such other provisions, which shall not be inconsistent with any of the terms of the Plan, as the Committee shall deem appropriate.

 

    12

    

    

 

Article
VII

STOCK APPRECIATION RIGHTS

 

7.1 Stock
Appreciation Rights. Stock Appreciation Rights shall be subject to the terms and conditions, not inconsistent with the
Plan, determined by the Committee, and the following:

 

(a) Exercise
Price. The exercise price per Share subject to a Stock Appreciation Right shall be determined by the Committee at the time of grant,
provided that the per share exercise price of a Stock Appreciation Right shall not be less than 100% of the Fair Market Value at
the time of grant.

 

(b) Term.
The term of each Stock Appreciation Right shall be fixed by the Committee, but shall not be greater than ten (10) years after the date
the right is granted.

 

(c) Exercisability.
Unless otherwise provided by the Committee, Stock Appreciation Rights granted under the Plan shall be exercised at such time or times
and subject to such terms and conditions as shall be determined by the Committee at the time of grant. If the Committee provides that
any such right is exercisable subject to certain terms and conditions, the Committee may waive those terms and conditions on the exercisability
at any time at or after grant in whole or in part.

 

(d) Method
of Exercise. Subject to whatever installment and waiting period provisions apply under Section 7.1(c), a Participant may exercise
Stock Appreciation Rights in whole or in part at any time in accordance with the applicable Award Agreement, by giving written notice
of exercise (which may be electronic) to the Company specifying the number of Stock Appreciation Rights being exercised.

 

(e) Payment.
Upon the exercise of a Stock Appreciation Right a Participant shall be entitled to receive, for each right exercised, up to, but no more
than, an amount in cash and/or Shares (as chosen by the Committee in its sole discretion) equal in value to the excess of the Fair Market
Value of one (1) Share on the date that the right is exercised over the Fair Market Value of one (1) Share on the date that the right
was awarded to the Participant.

 

(f) Termination.
Unless otherwise determined by the Committee at grant or, if no rights of the Participant are reduced, thereafter, subject to the provisions
of the applicable Award Agreement and the Plan, upon a Participant’s Termination of Service for any reason, Stock Appreciation Rights
may remain exercisable following a Participant’s Termination of Service on the same basis as Stock Options would be exercisable
following a Participant’s Termination of Service in accordance with the provisions of Sections 6.3(f) through 6.3(j).

 

(g) Non-Transferability.
No Stock Appreciation Rights shall be transferable by the Participant other than by will or by the laws of descent and distribution, and
all such rights shall be exercisable, during the Participant’s lifetime, only by the Participant.

 

7.2 Automatic
Exercise. The Committee may include a term or condition in an Award Agreement providing for the automatic exercise of a Stock
Appreciation Right on a cashless basis on the last day of the term of the Stock Appreciation Right if the Participant has failed to exercise
the Stock Appreciation Right as of such date, with respect to which the Fair Market Value of the Shares underlying the Stock Appreciation
Right exceeds the exercise price of such Stock Appreciation Right on the date of expiration of such Stock Appreciation Right, subject
to Section 15.4.

 

Article
VIII

RESTRICTED STOCK; RESTRICTED STOCK UNITS

 

8.1 Awards
of Restricted Stock and Restricted Stock Units. Shares of Restricted Stock and Restricted Stock Units may be granted alone or
in addition to other Awards granted under the Plan. The Committee shall determine the Eligible Individuals to whom, and the time or times
at which, grants of Restricted Stock and/or Restricted Stock Units shall be made, the number of shares of Restricted Stock or Restricted
Stock Units to be awarded, the price (if any) to be paid by the Participant (subject to Section 8.2), the time or times within which such
Awards may be subject to forfeiture, the vesting schedule and rights to acceleration thereof, and all other terms and conditions of the
Awards. The Committee shall determine and set forth in the Award Agreement the terms and conditions for each Restricted Stock and Restricted
Stock Unit Award, subject to the conditions and limitations contained in the Plan, including any vesting or forfeiture conditions during
the applicable restriction period.

 

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The Committee may condition
the grant or vesting of Restricted Stock and Restricted Stock Units upon the attainment of specified performance targets (including, the
Performance Goals) or such other factor as the Committee may determine in its sole discretion.

 

8.2 Awards
and Certificates. Restricted Stock and Restricted Stock Units granted under the Plan shall be evidenced by an Award Agreement
and subject to the following terms and conditions and shall be in such form and contain such additional terms and conditions not inconsistent
with the terms of the Plan, as the Committee shall deem desirable:

 

(a) Restricted
Stock:

 

(i) Purchase
Price. The purchase price of Restricted Stock shall be fixed by the Committee. The purchase price for shares of Restricted Stock may
be zero to the extent permitted by Applicable Law, and, to the extent not so permitted, such purchase price may not be less than par value.

 

(ii) Legend.
Each Participant receiving Restricted Stock shall be issued a stock certificate in respect of such shares of Restricted Stock, unless
the Committee elects to use another system, such as book entries by the transfer agent, as evidencing ownership of shares of Restricted
Stock. Such certificate shall be registered in the name of such Participant, and shall, in addition to such legends required by Applicable
Law, bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Stock.

 

(iii) Custody.
If stock certificates are issued in respect of shares of Restricted Stock, the Committee may require that any stock certificates evidencing
such shares be held in custody by the Company until the restrictions thereon shall have lapsed, and that, as a condition of any grant
of Restricted Stock, the Participant shall have delivered a duly signed stock power or other instruments of assignment (including a power
of attorney), each endorsed in blank with a guarantee of signature if deemed necessary or appropriate by the Company, which would permit
transfer to the Company of all or a portion of the shares subject to the Restricted Stock Award in the event that such Award is forfeited
in whole or part.

 

(iv) Rights
as a Stockholder. Except as provided in Section 8.3(a) and this Section 8.2(a) or as otherwise determined by the Committee in an Award
Agreement, the Participant shall have, with respect to the shares of Restricted Stock, all of the rights of a holder of Shares, including,
without limitation, the right to receive dividends, the right to vote such shares, and, subject to and conditioned upon the full vesting
of shares of Restricted Stock, the right to tender such shares; provided that the Award Agreement shall specify on what terms and
conditions the applicable Participant shall be entitled to dividends payable on the Shares.

 

(v) Lapse
of Restrictions. If and when the Restriction Period expires without a prior forfeiture of the Restricted Stock, the certificates for
such Shares shall be delivered to the Participant. All legends shall be removed from said certificates at the time of delivery to the
Participant, except as otherwise required by Applicable Law or other limitations imposed by the Committee.

 

(b) Restricted
Stock Units:

 

(i) Settlement.
The Committee may provide that settlement of Restricted Stock Units will occur upon or as soon as reasonably practical after the Restricted
Stock Units vest or will instead be deferred, on a mandatory basis or at the Participant’s election, in a manner intended to comply
with Section 409A of the Code.

 

    14

    

    

 

(ii) Right
as a Stockholder. A Participant will have no rights of a stockholder with respect to Shares subject to any Restricted Stock Unit unless
and until Shares are delivered in settlement of the Restricted Stock Units.

 

(iii) Dividend
Equivalents. If the Committee so provides, a grant of Restricted Stock Units may provide a Participant with the right to receive Dividend
Equivalents. Dividend Equivalents may be paid currently or credited to an account for the Participant, settled in cash or Shares, and
subject to the same restrictions on transferability and forfeitability as the Restricted Stock Units with respect to which the Dividend
Equivalents are granted and subject to other terms and conditions as set forth in the Award Agreement.

 

8.3 Restrictions
and Conditions.

 

(a) Restriction
Period. (i) The Participant shall not be permitted to transfer shares of Restricted Stock awarded under the Plan or vest in Restricted
Stock Units during the period or periods set by the Committee (the “Restriction Period”) commencing on the date of
such Award, as set forth in the applicable Award Agreement and such agreement shall set forth a vesting schedule and any event that would
accelerate vesting of the Restricted Stock and/or Restricted Stock Units. Within these limits, based on service, attainment of Performance
Goals pursuant to Section 8.3(a)(ii), and/or such other factors or criteria as the Committee may determine in its sole discretion, the
Committee may condition the grant or provide for the lapse of such restrictions in installments in whole or in part, or may accelerate
the vesting of all or any part of any Restricted Stock Award or Restricted Stock Unit and/or waive the deferral limitations for all or
any part of any Award.

 

(ii) If
the grant of shares of Restricted Stock or Restricted Stock Units or the lapse of restrictions or vesting schedule is based on the attainment
of Performance Goals, the Committee shall establish the objective Performance Goals and the applicable vesting percentage applicable to
each Participant or class of Participants in the applicable Award Agreement prior to the beginning of the applicable fiscal year or at
such later date as otherwise determined by the Committee and while the outcome of the Performance Goals are substantially uncertain. Such
Performance Goals may incorporate provisions for disregarding (or adjusting for) changes in accounting methods, corporate transactions
(including, without limitation, dispositions and acquisitions), and other similar types of events or circumstances.

 

(b) Termination.
Unless otherwise provided in the applicable Award Agreement or determined by the Committee at grant or, if no rights of the Participant
are reduced, thereafter, upon a Participant’s Termination of Service for any reason during the relevant Restriction Period, all
Restricted Stock or Restricted Stock Units still subject to restriction will be forfeited in accordance with the terms and conditions
established by the Committee at grant or thereafter.

 

Article
IX

PERFORMANCE AWARDS

 

9.1 Performance
Awards. The Committee may grant a Performance Award to a Participant payable upon the attainment of specific Performance Goals
either alone or in addition to other Awards granted under the Plan. The Performance Goals to be achieved during the Performance Period
and the length of the Performance Period shall be determined by the Committee upon the grant of each Performance Award. The conditions
for grant or vesting and the other provisions of Performance Awards (including, without limitation, any applicable Performance Goals)
need not be the same with respect to each Participant. Performance Awards may be paid in cash, Shares, other property, or any combination
thereof, in the sole discretion of the Committee as set forth in the applicable Award Agreement.

 

    15

    

    

 

Article
X

OTHER STOCK-BASED AND CASH AWARDS

 

10.1 Other
Stock-Based Awards. The Committee is authorized to grant to Eligible Individuals Other Stock-Based Awards that are payable in,
valued in whole or in part by reference to, or otherwise based on or related to Shares, including but not limited to, Shares awarded purely
as a bonus and not subject to restrictions or conditions, Shares in payment of the amounts due under an incentive or performance plan
sponsored or maintained by the Company, stock equivalent units, and Awards valued by reference to book value of Shares. Other Stock-Based
Awards may be granted either alone or in addition to or in tandem with other Awards granted under the Plan.

 

Subject to the provisions
of the Plan, the Committee shall have authority to determine the Eligible Individuals, to whom, and the time or times at which, such Awards
shall be made, the number of Shares to be awarded pursuant to such Awards, and all other conditions of the Awards. The Committee may also
provide for the grant of Shares under such Awards upon the completion of a specified Performance Period. The Committee may condition the
grant or vesting of Other Stock-Based Awards upon the attainment of specified Performance Goals as the Committee may determine, in its
sole discretion.

 

10.2 Terms
and Conditions. Other Stock-Based Awards made pursuant to this Article X shall be evidenced by an Award Agreement and subject
to the following terms and conditions and shall be in such form and contain such additional terms and conditions not inconsistent with
the terms of the Plan, as the Committee shall deem desirable:

 

(a) Non-Transferability.
Subject to the applicable provisions of the Award Agreement and the Plan, Shares subject to Awards made under this Article X may not be
transferred prior to the date on which the Shares are issued or, if later, the date on which any applicable restriction, performance,
or deferral period lapses.

 

(b) Dividends.
Unless otherwise determined by the Committee at the time of the grant of an Award, subject to the provisions of the Award Agreement and
the Plan, the recipient of an Award under this Article X shall not be entitled to receive, currently or on a deferred basis, dividends
or Dividend Equivalents in respect of the number of Shares covered by the Award.

 

(c) Vesting.
Any Award under this Article X and any Shares covered by any such Award shall vest or be forfeited to the extent so provided in the Award
Agreement, as determined by the Committee, in its sole discretion.

 

(d) Price.
Shares under this Article X may be issued for no cash consideration. Shares purchased pursuant to a purchase right awarded under this
Article X shall be priced, as determined by the Committee in its sole discretion.

 

10.3 Cash
Awards. The Committee may from time to time grant Cash Awards to Eligible Individuals in such amounts, on such terms and conditions,
and for such consideration, including no consideration or such minimum consideration as may be required by Applicable Law, as it shall
determine in its sole discretion. Cash Awards may be granted subject to the satisfaction of vesting conditions or may be awarded purely
as a bonus and not subject to restrictions or conditions, and if subject to vesting conditions, the Committee may accelerate the vesting
of such Awards at any time in its sole discretion. The grant of a Cash Award shall not require a segregation of any of the Company’s
assets for satisfaction of the Company’s payment obligation thereunder.

 

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Article
XI

RHODIUM TECHNOLOGIES LLC AWARDS

 

11.1 Rhodium
Technologies LLC Incentive Units. A Rhodium Technologies LLC Incentive Unit shall be designed as a “profits interest”
within the meaning of Internal Revenue Service Revenue Procedures 93-27 and 2001-43. Each Rhodium Technologies LLC Incentive Unit will
entitle the holder thereof to receive distributions from Rhodium Technologies LLC in accordance with the terms of the LLC Agreement. The
Committee will establish the terms and conditions applicable to the Rhodium Technologies LLC Incentive Units, including vesting or service
requirements.

 

11.2 Rhodium
Technologies LLC Awards Generally. The Committee is authorized, subject to limitations under applicable law, to grant other types
of equity-based, equity-related or cash-based Awards valued in whole or in part by reference to, or otherwise calculated by reference
to or based on, Rhodium Technologies LLC Units, in such amounts and subject to such terms and conditions as the Committee may determine
(the “Rhodium Technologies LLC Awards”). Rhodium Technologies LLC Awards may entail the transfer of shares of Common Stock
or Rhodium Technologies LLC Units to Award recipients. Rhodium Technologies LLC Awards may be in the same form as Awards that are permitted
to be granted under the Plan generally with respect to Common Stock (with the exception of Incentive Stock Options), with all references
to Common Stock replaced with references to the Rhodium Technologies LLC Units and all other definitions modified, if necessary for the
context, to reflect Rhodium Technologies LLC rather than the Company. In addition to any Award Agreement governing a Rhodium Technologies
LLC Award, the Committee may require that a recipient of a Rhodium Technologies LLC Award execute additional documentation to become a
member of Rhodium Technologies LLC. Rhodium Technologies LLC Incentive Units described above will be deemed to be Rhodium Technologies
LLC Awards for purposes of the Plan. Notwithstanding anything to the contrary within the Plan or in any Award Agreement that governs a
Rhodium Technologies LLC Award, the terms and conditions of all Rhodium Technologies LLC Awards shall be designed to comply with the LLC
Agreements, and to the extent that there is any inconsistency with the LLC Agreement within the Plan or the Award Agreement governing
any Rhodium Technologies LLC Award, the terms of the LLC Agreement shall control.

 

Article
XII

CHANGE IN CONTROL PROVISIONS

 

12.1 Benefits.
In the event of a Change in Control of the Company, and except as otherwise provided by the Committee in an Award Agreement, a Participant’s
unvested Awards shall not vest automatically and a Participant’s Awards shall be treated in accordance with one or more of the following
methods as determined by the Committee:

 

(a) Awards,
whether or not then vested, shall be continued, be assumed, or have new rights substituted therefor, as determined by the Committee in
a manner consistent with the requirements of Section 409A of the Code, and restrictions to which shares of Restricted Stock or any other
Award granted prior to the Change in Control are subject shall not lapse upon a Change in Control and the Restricted Stock or other Award
shall, where appropriate in the sole discretion of the Committee, receive the same distribution as other Shares on such terms as determined
by the Committee; provided that the Committee may decide to award additional Restricted Stock or other Awards in lieu of any cash
distribution. Notwithstanding anything to the contrary herein, for purposes of Incentive Stock Options, any assumed or substituted Stock
Option shall comply with the requirements of Treasury Regulation Section 1.424-1 (and any amendment thereto).

 

(b) The
Committee, in its sole discretion, may provide for the purchase of any Awards by the Company for an amount of cash equal to the excess
(if any) of the Change in Control Price of the Shares covered by such Awards, over the aggregate exercise price of such Awards; provided,
however, that if the exercise price of an Option or Stock Appreciation Right exceeds the Change in Control Price, such Award may
be cancelled for no consideration.

 

(c) The
Committee may, in its sole discretion, terminate all outstanding and unexercised Stock Options, Stock Appreciation Rights, or any Other
Stock-Based Award that provides for a Participant-elected exercise, effective as of the date of the Change in Control, by delivering notice
of termination to each Participant at least twenty (20) days prior to the date of consummation of the Change in Control, in which case
during the period from the date on which such notice of termination is delivered to the consummation of the Change in Control, each such
Participant shall have the right to exercise in full all of such Participant’s Awards that are then outstanding (without regard
to any limitations on exercisability otherwise contained in the Award Agreements), but any such exercise shall be contingent on the occurrence
of the Change in Control, and, provided that, if the Change in Control does not take place within a specified period after giving
such notice for any reason whatsoever, the notice and exercise pursuant thereto shall be null and void.

 

(d) Notwithstanding
any other provision herein to the contrary, the Committee may, in its sole discretion, provide for accelerated vesting or lapse of restrictions,
of an Award at any time.

 

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Article
XIII

TERMINATION OR AMENDMENT OF PLAN

 

Notwithstanding any other
provision of the Plan, the Board or the Committee may at any time, and from time to time, amend, in whole or in part, any or all of the
provisions of the Plan (including any amendment deemed necessary to ensure that the Company may comply with any Applicable Law), or suspend
or terminate it entirely, retroactively or otherwise; provided, however, that, unless otherwise required by Applicable Law
or specifically provided herein, the rights of a Participant with respect to Awards granted prior to such amendment, suspension, or termination
may not be impaired without the consent of such Participant and, provided, further, that without the approval of the holders
of the Shares entitled to vote in accordance with Applicable Law, no amendment may be made that would (i) increase the aggregate
number of Shares that may be issued under the Plan (except by operation of Section 4.1(a)); (ii) change the classification of individuals
eligible to receive Awards under the Plan; (iii) reduce the exercise price of any Stock Option or Stock Appreciation Right; (iv) grant
a new Stock Option, Stock Appreciation Right, or other Award in substitution for, or upon the cancellation of, any previously granted
Stock Option or Stock Appreciation Right that has the effect of reducing the exercise price thereof; (v) exchange any Stock Option or
Stock Appreciation Right for Common Stock, cash, or other consideration when the exercise price per Share under such Stock Option or Stock
Appreciation Right exceeds the Fair Market Value of a Share; or (vi) take any other action that would be considered a “repricing”
of a Stock Option or Stock Appreciation Right under the applicable listing standards of the national exchange on which the Company’s
or Rhodium Technologies LLC’s securities are listed (if any). Notwithstanding anything herein to the contrary, the Board or the
Committee may amend the Plan or any Award Agreement at any time without a Participant’s consent to comply with Applicable Law, including
Section 409A of the Code. The Committee may amend the terms of any Award theretofore granted, prospectively or retroactively, but,
subject to Article IV or as otherwise specifically provided herein, no such amendment or other action by the Committee shall impair the
rights of any holder without the holder’s consent.

 

Article
XIV

UNFUNDED STATUS OF PLAN

 

The Plan is intended to constitute
an “unfunded” plan for incentive and deferred compensation. With respect to any payment as to which a Participant has a fixed
and vested interest but which is not yet made to a Participant by the Company, nothing contained herein shall give any such Participant
any right that is greater than those of a general unsecured creditor of the Company.

 

Article
XV

GENERAL PROVISIONS

 

15.1 Legend.
The Committee may require each person receiving Shares pursuant to a Stock Option or other Award under the Plan to represent to and agree
with the Company in writing that the Participant is acquiring the Shares without a view to distribution thereof. In addition to any legend
required by the Plan, the certificates for such Shares may include any legend that the Committee deems appropriate to reflect any restrictions
on transfer. All certificates for Shares delivered under the Plan shall be subject to such stop transfer orders and other restrictions
as the Committee may deem advisable under the rules, regulations, and other requirements of the Securities and Exchange Commission, any
stock exchange upon which the Common Stock is then listed or any national securities exchange system upon whose system the Common Stock
is then quoted, and any Applicable Law, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate
reference to such restrictions. If the Shares are held in book-entry form, then the book-entry will indicate any restrictions on such
Shares.

 

15.2 Other
Plans. Nothing contained in the Plan shall prevent the Board from adopting other or additional compensation arrangements, subject
to stockholder approval if such approval is required, and such arrangements may be either generally applicable or applicable only in specific
cases.

 

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15.3 No
Right to Employment/Directorship/Consultancy. Neither the Plan nor the grant of any Award hereunder shall give any Participant
or other employee, Consultant or Non-Employee Director any right with respect to continuance of employment, consultancy or directorship
by the Company or any Affiliate, nor shall there be a limitation in any way on the right of the Company or any Affiliate by which an employee
is employed or a Consultant or Non-Employee Director is retained to terminate such employment, consultancy, or directorship at any time.

 

15.4 Withholding
of Taxes. A Participant shall be required to pay to the Company or one of its Affiliates, as applicable, or make arrangements
satisfactory to the Company regarding the payment of, any income tax, social insurance contribution or other applicable taxes that are
required to be withheld in respect of an Award. The Committee may (but is not obligated to), in its sole discretion, permit or require
a Participant to satisfy all or any portion of the applicable taxes that are required to be withheld with respect to an Award by (a) the
delivery of Shares (which are not subject to any pledge or other security interest) that have been both held by the Participant and vested
for at least six (6) months (or such other period as established from time to time by the Committee in order to avoid adverse accounting
treatment under applicable accounting standards) having an aggregate Fair Market Value equal to such withholding liability (or portion
thereof); (b) having the Company withhold from the Shares otherwise issuable or deliverable to, or that would otherwise be retained
by, the Participant upon the grant, exercise, vesting, or settlement of the Award, as applicable, a number of Shares with an aggregate
Fair Market Value equal to the amount of such withholding liability; or (c) by any other means specified in the applicable Award Agreement
or otherwise determined by the Committee.

 

15.5 Fractional
Shares. No fractional Shares shall be issued or delivered pursuant to the Plan. The Committee shall determine whether cash, additional
Awards, or other securities or property shall be used or paid in lieu of fractional Shares or whether any fractional shares should be
rounded, forfeited, or otherwise eliminated.

 

15.6 No
Assignment of Benefits. No Award or other benefit payable under the Plan shall, except as otherwise specifically provided by law
or permitted by the Committee, be transferable in any manner, and any attempt to transfer any such benefit shall be void, and any such
benefit shall not in any manner be liable for or subject to the debts, contracts, liabilities, engagements, or torts of any person who
shall be entitled to such benefit, nor shall it be subject to attachment or legal process for or against such person. All transfers of
Rhodium Technologies LLC Awards shall also be subject to the restrictions contained in the LLC Agreement.

 

15.7 Clawback
Provisions. All Awards (including any proceeds, gains, or other economic benefit the Participant actually or constructively receives
upon receipt or exercise of any Award or the receipt or resale of any Shares underlying the Award) will be subject to any Company clawback
policy, including any claw-back policy adopted to comply with Applicable Law (including the Dodd-Frank Wall Street Reform and Consumer
Protection Act and any rules or regulations promulgated thereunder) as set forth in such clawback policy or the Award Agreement.

 

15.8 Listing
and Other Conditions.

 

(a) Unless
otherwise determined by the Committee, as long as the Common Stock is listed on a national securities exchange or system sponsored by
a national securities association, the issuance of Shares pursuant to an Award shall be conditioned upon such Shares being listed on such
exchange or system. The Company shall have no obligation to issue such Shares unless and until such Shares are so listed, and the right
to exercise any Option or other Award with respect to such Shares shall be suspended until such listing has been effected.

 

(b) If
at any time counsel to the Company shall be of the opinion that any sale or delivery of Shares pursuant to an Award is or may in the circumstances
be unlawful or result in the imposition of excise taxes on the Company under Applicable Law, the Company shall have no obligation to make
such sale or delivery, or to make any application or to effect or to maintain any qualification or registration under the Securities Act
or otherwise, with respect to Shares or Awards, and the right to exercise any Option or other Award shall be suspended until, in the opinion
of said counsel, such sale or delivery shall be lawful or will not result in the imposition of excise taxes on the Company.

 

    19

    

    

 

(c) Upon
termination of any period of suspension under this Section 15.8, any Award affected by such suspension which shall not then have expired
or terminated shall be reinstated as to all Shares available before such suspension and as to Shares which would otherwise have become
available during the period of such suspension, but no such suspension shall extend the term of any Award.

 

(d) A
Participant shall be required to supply the Company with certificates, representations, and information that the Company requests and
otherwise cooperate with the Company in obtaining any listing, registration, qualification, exemption, consent, or approval the Company
deems necessary or appropriate.

 

15.9 Governing
Law. The Plan and actions taken in connection herewith shall be governed and construed in accordance with the laws of the State
of Delaware, without reference to principles of conflict of laws.

 

15.10 Construction.
Wherever any words are used in the Plan in the masculine gender they shall be construed as though they were also used in the feminine
gender in all cases where they would so apply, and wherever words are used herein in the singular form they shall be construed as though
they were also used in the plural form in all cases where they would so apply.

 

15.11 Other
Benefits. No Award granted or paid out under the Plan shall be deemed compensation for purposes of computing benefits under any
retirement plan of the Company or its Affiliates or affect any benefit or compensation under any other plan now or subsequently in effect
under which the availability or amount of benefits is related to the level of compensation.

 

15.12 Costs.
The Company shall bear all expenses associated with administering the Plan, including expenses of issuing Shares pursuant to Awards hereunder.

 

15.13 No
Right to Same Benefits. The provisions of Awards need not be the same with respect to each Participant, and such Awards to individual
Participants need not be the same in subsequent years.

 

15.14 Death/Disability.
The Committee may in its discretion require the transferee of a Participant to supply it with written notice of the Participant’s
death or Disability and to supply it with a copy of the will (in the case of the Participant’s death) or such other evidence as
the Committee deems necessary to establish the validity of the transfer of an Award. The Committee may also require the agreement of the
transferee to be bound by all of the terms and conditions of the Plan.

 

15.15 Section
16(b) of the Exchange Act. It is the intent of the Company that the Plan satisfy, and be interpreted in a manner that satisfies,
the applicable requirements of Rule 16b-3 as promulgated under Section 16 of the Exchange Act so that Participants will be entitled to
the benefit of Rule 16b-3, or any other rule promulgated under Section 16 of the Exchange Act, and will not be subject to short-swing
liability under Section 16 of the Exchange Act. Accordingly, if the operation of any provision of the Plan would conflict with the intent
expressed in this Section 15.15, such provision to the extent possible shall be interpreted and/or deemed amended so as to avoid such
conflict.

 

15.16 Deferral
of Awards. The Committee may establish one or more programs under the Plan to permit selected Participants the opportunity to
elect to defer receipt of consideration upon exercise of an Award, satisfaction of performance criteria, or other event that absent the
election would entitle the Participant to payment or receipt of Shares or other consideration under an Award. The Committee may establish
the election procedures, the timing of such elections, the mechanisms for payments of, and accrual of interest or other earnings, if any,
on amounts, Shares or other consideration so deferred, and such other terms, conditions, rules, and procedures that the Committee deems
advisable for the administration of any such deferral program.

 

    20

    

    

 

15.17 Section
409A of the Code. The Plan and Awards are intended to comply with or be exempt from the applicable requirements of Section 409A
of the Code and shall be limited, construed, and interpreted in accordance with such intent. To the extent that any Award is subject to
Section 409A of the Code, it shall be paid in a manner that will comply with Section 409A of the Code, including proposed, temporary,
or final regulations or any other guidance issued by the Secretary of the Treasury and the Internal Revenue Service with respect thereto.
Notwithstanding anything herein to the contrary, any provision in the Plan that is inconsistent with Section 409A of the Code shall be
deemed to be amended to comply with or be exempt from Section 409A of the Code and, to the extent such provision cannot be amended to
comply therewith or be exempt therefrom, such provision shall be null and void. The Company shall have no liability to a Participant,
or any other party, if an Award that is intended to be exempt from, or compliant with, Section 409A of the Code is not so exempt or compliant
or for any action taken by the Committee or the Company and, in the event that any amount or benefit under the Plan becomes subject to
penalties under Section 409A of the Code, responsibility for payment of such penalties shall rest solely with the affected Participants
and not with the Company. Notwithstanding any contrary provision in the Plan or Award Agreement, any payment(s) of “nonqualified
deferred compensation” (within the meaning of Section 409A of the Code) that are otherwise required to be made under the Plan to
a “specified employee” (as defined under Section 409A of the Code) as a result of such employee’s separation from service
(other than a payment that is not subject to Section 409A of the Code) shall be delayed for the first six (6) months following such separation
from service (or, if earlier, until the date of death of the specified employee) and shall instead be paid (in a manner set forth in the
Award Agreement) upon expiration of such delay period.

 

15.18 Successor
and Assigns. The Plan shall be binding on all successors and permitted assigns of a Participant, including, without limitation,
the estate of such Participant and the executor, administrator, or trustee of such estate.

 

15.19 Severability
of Provisions. If any provision of the Plan shall be held invalid or unenforceable, such invalidity or unenforceability shall
not affect any other provisions hereof, and the Plan shall be construed and enforced as if such provisions had not been included.

 

15.20 Headings
and Captions. The headings and captions herein are provided for reference and convenience only, shall not be considered part of
the Plan, and shall not be employed in the construction of the Plan.

 

Article
XVI

EFFECTIVE DATE OF PLAN

 

The Plan shall become effective
on          , which is the date of its adoption by the Board, subject to the approval of the Plan by the stockholders of the Company in
accordance with the requirements of the laws of the State of Delaware.

 

Article
XVII

TERM OF PLAN

 

No Award shall be granted
pursuant to the Plan on or after the tenth (10th) anniversary of the earlier of the date that the Plan is adopted or the date of stockholder
approval, but Awards granted prior to such tenth (10th) anniversary may extend beyond that date.

 

 

21

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