Document:

Exhibit 10.8

 

 

YUNHONG INTERNATIONAL

4 – 19/F, 126 Zhong Bei,

Wuchang District, Wuhan, China

430061

 

[__], 2019

 

LF International Pte. Ltd.

[ Address ]

 

Re: Administrative Services Agreement

 

Ladies and Gentlemen:

 

This letter agreement by and between Yunhong
International (the “Company”) and LF International Pte. Ltd. (“LF International”), dated as of the date
hereof, will confirm our agreement that, commencing on the date the securities of the Company are first listed on the NASDAQ Capital
Market (the “Listing Date”), pursuant to a Registration Statement on Form S-1 and prospectus filed with
the Securities and Exchange Commission (the “Registration Statement”) and continuing until the earlier of the consummation
by the Company of an initial business combination or the Company’s liquidation (in each case as described in the Registration
Statement) (such earlier date hereinafter referred to as the “Termination Date”):

 

(i)    LF International,
the Company’s sponsor, shall make available, or cause to be made available, to the Company, at 4 – 19/F, 126 Zhong
Bei, Wuchang District, Wuhan, China 430061 (or any successor location of LF International), office space and administrative and
support services. In exchange therefor, the Company shall pay LF International the sum of $10,000 per month on the Listing Date
and continuing monthly thereafter until the Termination Date; and

 

(ii)     LF International
hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind as a result of, or arising
out of, this letter agreement (each, a “Claim”) in or to, and any and all right to seek payment of any amounts due
to it out of, the trust account established for the benefit of the public shareholders of the Company and into which substantially
all of the proceeds of the Company’s initial public offering will be deposited (the “Trust Account”), and hereby
irrevocably waives any Claim it may have in the future, which Claim would reduce, encumber or otherwise adversely affect the Trust
Account or any monies or other assets in the Trust Account, and further agrees not to seek recourse, reimbursement, payment or
satisfaction of any Claim against the Trust Account or any monies or other assets in the Trust Account for any reason whatsoever.

 

This letter agreement constitutes the entire
agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior understandings, agreements,
or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter
hereof or the transactions contemplated hereby.

 

This letter agreement may not be amended,
modified or waived as to any particular provision, except by a written instrument executed by the parties hereto.

 

No party hereto may assign either this
letter agreement or any of its rights, interests, or obligations hereunder without the prior written approval of the other party.
Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign
any interest or title to the purported assignee.

 

This letter agreement constitutes the entire
relationship of the parties hereto, and any litigation between the parties (whether grounded in contract, tort, statute, law or
equity) shall be governed by, construed in accordance with, and interpreted pursuant to the laws of the State of New York, without
giving effect to its choice of laws principles.

 

     

     

    

 

This letter agreement may be executed in
one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute
one and the same letter agreement.

 

[Signature Page Follows]

 

	 	Very truly yours,
	 	 
	 	YUNHONG INTERNATIONAL
	 	 	 
	 	By:	 
	 	 	Name: 	Andrey Novikov
	 	 	Title:	Chief Executive Officer

 

	AGREED TO AND ACCEPTED BY:	 	 
	 	 	 
	LF INTERNATIONAL PTE. LTD. 	 	 
	 	 	 	 	 
	By:	 	 	 
	 	Name: 	Yubao Li	 	 
	 	Title:	[            ]	 	 

 

[Signature Page to Administrative Services
Agreement]Exhibit 10.29

 

DYNASIL CORPORATION OF AMERICA

 

2019 EMPLOYEE, DIRECTOR AND CONSULTANT
EQUITY INCENTIVE PLAN

 

		1.	DEFINITIONS.

 

Unless otherwise specified
or unless the context otherwise requires, the following terms, as used in this Dynasil Corporation of America 2020 Employee, Director
and Consultant Equity Incentive Plan, have the following meanings:

 

Administrator means the
Board of Directors, unless it has delegated power to act on its behalf to the Committee, in which case the term “Administrator”
means the Committee.

 

Affiliate means a corporation
or other entity which, for purposes of Section 424 of the Code, is a parent or subsidiary of the Company, direct or indirect.

 

Agreement means an agreement
between the Company and a Participant pertaining to a Stock Right delivered pursuant to the Plan, in such form as the Administrator
shall approve.

 

Board of Directors means
the Board of Directors of the Company.

 

Cause means, with respect
to a Participant (a) dishonesty with respect to the Company or any Affiliate, (b) insubordination, substantial malfeasance or non-feasance
of duty, (c) unauthorized disclosure of confidential information, (d) breach by a Participant of any provision of any employment,
consulting, advisory, nondisclosure, non-competition or similar agreement between the Participant and the Company or any Affiliate,
and (e) conduct substantially prejudicial to the business of the Company or any Affiliate; provided, however, that any provision
in an agreement between a Participant and the Company or an Affiliate, which contains a conflicting definition of Cause for termination
and which is in effect at the time of such termination, shall supersede this definition with respect to that Participant. The determination
of the Administrator as to the existence of Cause will be conclusive on the Participant and the Company.

 

Change of Control means
the occurrence of any of the following events:

 

		(i)	Ownership. Any “Person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes 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 total voting power represented by the Company’s then outstanding voting securities (excluding for this purpose any such voting securities held by the Company or its Affiliates or by any employee benefit plan of or cancellation the Company) other than as a result of an acquisition of securities directly from the Company or as a result of an acquisition or cancellation of voting securities by the Company which reduces the voting rights attached to the total number of voting securities; or

 

    

     

    

 

		(ii)	Merger/Sale of Assets. (A) A merger or consolidation of the Company whether or not approved
by the Board of Directors, 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 the parent of such entity) more than 50% of the total voting power represented by the voting securities
of the Company or such surviving entity or parent of such corporation, as the case may be, outstanding immediately after such merger
or consolidation; or (B) the sale or disposition by the Company of all or substantially all of the Company’s assets in a
transaction requiring stockholder approval; or

 

		(iii)	Change in Board Composition. A change in the composition of the Board of Directors, as a
result of which fewer than a majority of the directors are Incumbent Directors. “Incumbent Directors” shall mean directors
who either (A) are directors of the Company as of December 12, 2019, or (B) are elected, or nominated for election, to the
Board of Directors with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or
nomination (but shall not include an individual whose election or nomination is in connection with an actual or threatened proxy
contest relating to the election of directors to the Company).

 

		(iv)	“Change of Control” shall be interpreted, if applicable, in a manner, and limited to
the extent necessary, so that it will not cause adverse tax consequences under Section 409A of the Code.

 

Code means the United States
Internal Revenue Code of 1986, as amended including any successor statute, regulation and guidance thereto.

 

Committee means the committee
of the Board of Directors, if any, to which the Board of Directors has delegated power to act under or pursuant to the provisions
of the Plan.

 

Common Stock means shares
of the Company’s common stock, $.0005 par value per share.

 

Company means Dynasil Corporation
of America, a Delaware corporation.

 

Consultant means any natural
person who is an advisor or consultant who provides bona fide services to the Company or its Affiliates, provided that such services
are not in connection with the offer or sale of securities in a capital raising transaction, and do not directly or indirectly
promote or maintain a market for the Company’s or its Affiliates’ securities.

 

Disability or Disabled
means permanent and total disability as defined in Section 22(e)(3) of the Code.

 

Employee means any employee
of the Company or of an Affiliate (including, without limitation, an employee who is also serving as an officer or director of
the Company or of an Affiliate), designated by the Administrator to be eligible to be granted one or more Stock Rights under the
Plan.

 

Exchange Act means the United
States Securities Exchange Act of 1934, as amended.

 

Fair Market Value of a Share
of Common Stock means:

 

(1)              
If the Common Stock is listed on a national securities exchange or traded in the over-the-counter market and sales
prices are regularly reported for the Common Stock, the closing or, if not applicable, the last price of the Common Stock on the
composite tape or other comparable reporting system for the trading day on the applicable date and if such applicable date is not
a trading day, the last market trading day prior to such date;

 

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(2)              
If the Common Stock is not traded on a national securities exchange but is traded on the over-the-counter market,
if sales prices are not regularly reported for the Common Stock for the trading day referred to in clause (1), and if bid
and asked prices for the Common Stock are regularly reported, the mean between the bid and the asked price for the Common Stock
at the close of trading in the over-the-counter market for the most recent trading day on which Common Stock was traded on the
applicable date and if such applicable date is not a trading day, the last market trading day prior to such date; and

 

(3)              
If the Common Stock is neither listed on a national securities exchange nor traded in the over-the-counter market,
such value as the Administrator, in good faith, shall determine in compliance with applicable laws.

 

ISO means a stock option
intended to qualify as an incentive stock option under Section 422 of the Code.

 

Non-Qualified Option
means a stock option which is not intended to qualify as an ISO.

 

Option means an ISO or Non-Qualified
Option granted under the Plan.

 

Participant means an Employee,
director or Consultant of the Company or an Affiliate to whom one or more Stock Rights are granted under the Plan. As used herein,
“Participant” shall include “Participant’s Survivors” where the context requires.

 

Plan means this Dynasil
Corporation of America 2020 Employee, Director and Consultant Equity Incentive Plan.

 

Securities Act means the
Securities Act of 1933, as amended.

 

Shares means shares of the
Common Stock as to which Stock Rights have been or may be granted under the Plan or any shares of capital stock into which the
Shares are changed or for which they are exchanged within the provisions of Paragraph 3 of the Plan. The Shares issued under
the Plan may be authorized and unissued shares or shares held by the Company in its treasury, or both.

 

Stock-Based Award means
a grant by the Company under the Plan of an equity award or an equity based award which is not an Option or a Stock Grant.

 

Stock Grant means a grant
by the Company of Shares under the Plan.

 

Stock Right means a right
to Shares or the value of Shares of the Company granted pursuant to the Plan -- an ISO, a Non-Qualified Option, a Stock Grant or
a Stock-Based Award.

 

Survivor means a deceased
Participant’s legal representatives and/or any person or persons who acquired the Participant’s rights to a Stock Right
by will or by the laws of descent and distribution.

 

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		2.	PURPOSES OF THE PLAN.

 

The Plan is intended
to encourage ownership of Shares by Employees and directors of and certain Consultants to the Company and its Affiliates in order
to attract and retain such people, to induce them to work for the benefit of the Company or of an Affiliate and to provide additional
incentive for them to promote the success of the Company or of an Affiliate. The Plan provides for the granting of ISOs, Non-Qualified
Options, Stock Grants and Stock-Based Awards.

 

		3.	SHARES SUBJECT TO THE PLAN.

 

(a)               The
number of Shares which may be issued from time to time pursuant to this Plan shall be the sum of: (i) 2,762,827 shares of Common
Stock and (ii) any shares of Common Stock that are represented by awards granted under the Company’s 2010 Stock Incentive
Plan that are forfeited, expire or are cancelled without delivery of shares of Common Stock or which result in the forfeiture of
shares of Common Stock back to the Company on or after December 12, 2019, or the equivalent of such number of Shares after the
Administrator, in its sole discretion, has interpreted the effect of any stock split, stock dividend, combination, recapitalization
or similar transaction in accordance with Paragraph 24 of this Plan; provided, however, that no more than 295,602 Shares shall
be added to the Plan pursuant to subsection (ii).

 

(b)                If
an Option ceases to be “outstanding”, in whole or in part (other than by exercise), or if the Company shall
reacquire at not more than its original issuance price any Shares issued pursuant to a Stock Grant or Stock-Based Award, or
if any Stock Right expires or is forfeited, cancelled, or otherwise terminated or results in any Shares not being issued, the
unissued or reacquired Shares which were subject to such Stock Right shall again be available for issuance from time to time
pursuant to this Plan. Notwithstanding the foregoing, if a Stock Right is exercised, in whole or in part, by tender of Shares
or if the Company or an Affiliate’s tax withholding obligation is satisfied by withholding Shares, the number of Shares
deemed to have been issued under the Plan for purposes of the limitation set forth in Paragraph 3(a) above shall be the
number of Shares that were subject to the Stock Right or portion thereof, and not the net number of Shares actually issued.
However, in the case of ISOs, the foregoing provisions shall be subject to any limitations under the Code.

 

		4.	ADMINISTRATION OF THE PLAN.

 

The Administrator of
the Plan will be the Board of Directors, except to the extent the Board of Directors delegates its authority to the Committee,
in which case the Committee shall be the Administrator. Subject to the provisions of the Plan, the Administrator is authorized
to:

 

(a)              
Interpret the provisions of the Plan and all Stock Rights and to make all rules and determinations which it deems necessary
or advisable for the administration of the Plan;

 

(b)              
Determine which Employees, directors and Consultants shall be granted Stock Rights;

 

(c)              
Determine the number of Shares for which a Stock Right or Stock Rights shall be granted.

 

(d)              
Specify the terms and conditions upon which a Stock Right or Stock Rights may be granted;

 

(e)              
Amend any term or condition of any outstanding Stock Right, including, without limitation, to reduce or increase the exercise
price or purchase price, accelerate the vesting schedule or extend the expiration date, provided that (i) such term or condition
as amended is permitted by the Plan; (ii) any such amendment shall not impair the rights of a Participant under any Stock Right
previously granted without such Participant’s consent or in the event of death of the Participant the Participant’s
Survivors; and (iii) any such amendment shall be made only after the Administrator determines whether such amendment would cause
any adverse tax consequences to the Participant, including, but not limited to, the annual vesting limitation contained in Section
422(d) of the Code and described in Paragraph 6(b)(iv) below with respect to ISOs and pursuant to Section 409A of the Code;

 

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(f)               
Buy out for a payment in cash or Shares, a Stock Right previously granted and/or cancel any such Stock Right and grant in
substitution therefor other Stock Rights, covering the same or a different number of Shares and having an exercise price or purchase
price per share which may be lower or higher than the exercise price or purchase price of the cancelled Stock Right, based on such
terms and conditions as the Administrator shall establish and the Participant shall accept; and

 

(g)               Adopt
any sub-plans applicable to residents of any specified jurisdiction as it deems necessary or appropriate in order to comply
with or take advantage of any tax or other laws applicable to the Company, any Affiliate or to Participants or to
otherwise facilitate the administration of the Plan, which sub-plans may include additional restrictions or conditions
applicable to Stock Rights or Shares issuable pursuant to a Stock Right;

 

provided, however, that all such interpretations,
rules, determinations, terms and conditions shall be made and prescribed in the context of potential tax consequences under
Section 409A of the Code and preserving the tax status under Section 422 of the Code of those Options which are designated as
ISOs. Subject to the foregoing, the interpretation and construction by the Administrator of any provisions of the Plan or of
any Stock Right granted under it shall be final, unless otherwise determined by the Board of Directors, if the Administrator
is the Committee. In addition, if the Administrator is the Committee, the Board of Directors may take any action under the
Plan that would otherwise be the responsibility of the Committee.

 

To the extent permitted
under applicable law, the Board of Directors or the Committee may allocate all or any portion of its responsibilities and powers
to any one or more of its members and may delegate all or any portion of its responsibilities and powers to any other person selected
by it. The Board of Directors or the Committee may revoke any such allocation or delegation at any time.

 

		5.	ELIGIBILITY FOR PARTICIPATION.

 

The Administrator will,
in its sole discretion, name the Participants in the Plan; provided, however, that each Participant must be an Employee, director
or Consultant of the Company or of an Affiliate at the time a Stock Right is granted. Notwithstanding the foregoing, the Administrator
may authorize the grant of a Stock Right to a person not then an Employee, director or Consultant of the Company or of an Affiliate;
provided, however, that the actual grant of such Stock Right shall be conditioned upon such person becoming eligible to become
a Participant at or prior to the time of the execution of the Agreement evidencing such Stock Right. ISOs may be granted only to
Employees who are deemed to be residents of the United States for tax purposes. Non-Qualified Options, Stock Grants and Stock-Based
Awards may be granted to any Employee, director or Consultant of the Company or an Affiliate. The granting of any Stock Right to
any individual shall neither entitle that individual to, nor disqualify him or her from, participation in any other grant of Stock
Rights or any grant under any other benefit plan established by the Company or any Affiliate for Employees, directors or Consultants.

 

		6.	TERMS AND CONDITIONS OF OPTIONS.

 

Each Option shall be
set forth in writing in an Option Agreement, duly executed by the Company and, to the extent required by law or requested by the
Company, by the Participant. The Administrator may provide that Options be granted subject to such terms and conditions, consistent
with the terms and conditions specifically required under this Plan, as the Administrator may deem appropriate including, without
limitation, subsequent approval by the shareholders of the Company of this Plan or any amendments thereto. The Option Agreements
shall be subject to at least the following terms and conditions:

 

(a)              
Non-Qualified Options: Each Option intended to be a Non-Qualified Option shall be subject to the terms and
conditions which the Administrator determines to be appropriate and in the best interest of the Company, subject to the following
minimum standards for any such Non-Qualified Option:

 

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		(i)	Exercise Price: Each Option Agreement shall state the exercise price (per share) of the
Shares covered by each Option, which exercise price shall be determined by the Administrator and shall be at least equal to the
Fair Market Value per share of the Common Stock on the date of grant of the Option.

 

		(ii)	Number of Shares: Each Option Agreement shall state the number of Shares to which it pertains.

 

		(iii)	Vesting Periods: Each Option Agreement shall state the date or dates on which it first is
exercisable and the date after which it may no longer be exercised, and may provide that the Option rights accrue or become exercisable
in installments over a period of months or years, or upon the occurrence of certain performance conditions or the attainment of
stated goals or events.

 

		(iv)	Additional Conditions: Exercise of any Option may be conditioned upon the Participant’s
execution of a stockholders agreement in a form satisfactory to the Administrator providing for certain protections for the Company
and its other shareholders, including requirements that:

 

		A.	The Participant’s or the Participant’s Survivors’ right to sell or transfer the
Shares may be restricted; and

 

		B.	The Participant or the Participant’s Survivors may be required to execute letters of investment
intent and must also acknowledge that the Shares will bear legends noting any applicable restrictions.

 

		(v)	Term of Option: Each Option shall terminate not more than ten years from the date of the
grant or at such earlier time as the Option Agreement may provide.

 

 

(b)              
ISOs: Each Option intended to be an ISO shall be issued only to an Employee who is deemed to be a resident of the
United States for tax purposes, and shall be subject to the following terms and conditions, with such additional restrictions or
changes as the Administrator determines are appropriate but not in conflict with Section 422 of the Code and relevant regulations
and rulings of the Internal Revenue Service:

 

		(i)	Minimum standards: The ISO shall meet the minimum standards required of Non-Qualified
Options, as described in Paragraph 6(a) above, except subsections (i) and (v) thereunder.

 

		(ii)	Exercise Price: Immediately before the ISO is granted, if the Participant owns, directly
or by reason of the applicable attribution rules in Section 424(d) of the Code:

 

		A.	Ten percent (10%) or less of the total combined voting power of all classes of stock of
the Company or an Affiliate, the exercise price per share of the Shares covered by each ISO shall not be less than one hundred
percent (100%) of the Fair Market Value per share of the Common Stock on the date of grant of the Option; or

 

		B.	More than ten percent (10%) of the total combined voting power of all classes of stock of the Company
or an Affiliate, the exercise price per share of the Shares covered by each ISO shall not be less than one hundred ten percent
(110%) of the Fair Market Value per share of the Common Stock on the date of grant of the Option.

 

		(iii)	Term of Option: For Participants who own:

 

		A.	Ten percent (10%) or less of the total combined voting power of all classes of stock of
the Company or an Affiliate, each ISO shall terminate not more than ten years from the date of the grant or at such earlier time
as the Option Agreement may provide; or

 

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		B.	More than ten percent (10%) of the total combined voting power of all classes of stock of the Company
or an Affiliate, each ISO shall terminate not more than five (5) years from the date of the grant or at such earlier time as the
Option Agreement may provide.

 

		(iv)	Limitation on Yearly Exercise: The Option Agreements shall restrict the amount of ISOs which
may become exercisable in any calendar year (under this or any other ISO plan of the Company or an Affiliate) so that the aggregate
Fair Market Value (determined on the date each ISO is granted) of the stock with respect to which ISOs are exercisable for the
first time by the Participant in any calendar year does not exceed one hundred thousand dollars ($100,000).

 

		7.	TERMS AND CONDITIONS OF STOCK GRANTS.

 

Each Stock Grant to
a Participant shall state the principal terms in an Agreement duly executed by the Company and, to the extent required by law or
requested by the Company, by the Participant. The Agreement shall be in a form approved by the Administrator and shall contain
terms and conditions which the Administrator determines to be appropriate and in the best interest of the Company, subject to the
following minimum standards:

 

(a)              
Each Agreement shall state the purchase price per share, if any, of the Shares covered by each Stock Grant, which purchase
price shall be determined by the Administrator but shall not be less than the minimum consideration required by the Delaware General
Corporation Law, if any, on the date of the grant of the Stock Grant;

 

(b)              
Each Agreement shall state the number of Shares to which the Stock Grant pertains; and

 

(c)              
Each Agreement shall include the terms of any right of the Company to restrict or reacquire the Shares subject to the Stock
Grant, including the time and events upon which such rights shall accrue and the purchase price therefor, if any.

 

		8.	TERMS AND CONDITIONS OF OTHER STOCK-BASED AWARDS.

 

The Administrator shall
have the right to grant other Stock-Based Awards based upon the Common Stock having such terms and conditions as the Administrator
may determine, including, without limitation, the grant of Shares based upon certain conditions, the grant of securities convertible
into Shares and the grant of stock appreciation rights, phantom stock awards or stock units. The principal terms of each Stock-Based
Award shall be set forth in an Agreement, duly executed by the Company and, to the extent required by law or requested by the Company,
by the Participant. The Agreement shall be in a form approved by the Administrator and shall contain terms and conditions which
the Administrator determines to be appropriate and in the best interest of the Company. Each Agreement shall include the terms
of any right of the Company including the right to terminate the Stock-Based Award without the issuance of Shares, the terms of
any vesting conditions or events upon which Shares shall be issued. Under no circumstances may the Agreement covering stock appreciation
rights (a) have a base price (per share) that is less than the Fair Market Value per share of Common Stock on the date of grant
or (b) expire more than ten years following the date of grant.

 

The Company intends
that the Plan and any Stock-Based Awards granted hereunder be exempt from the application of Section 409A of the Code or meet the
requirements of paragraphs (2), (3) and (4) of subsection (a) of Section 409A of the Code, to the extent applicable, and be operated
in accordance with Section 409A so that any compensation deferred under any Stock-Based Award (and applicable investment earnings)
shall not be included in income under Section 409A of the Code. Any ambiguities in the Plan shall be construed to effect the intent
as described in this Paragraph 8.

 

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		9.	EXERCISE OF OPTIONS AND ISSUE OF SHARES.

 

An Option (or
any part or installment thereof) shall be exercised by giving written notice to the Company or its designee (in a form
acceptable to the Administrator, which may include electronic notice), together with provision for payment of the aggregate
exercise price in accordance with this Paragraph for the Shares as to which the Option is being exercised, and upon
compliance with any other condition(s) set forth in the Option Agreement. Such notice shall be signed by the person
exercising the Option (which signature may be provided electronically in a form acceptable to the Administrator), shall state
the number of Shares with respect to which the Option is being exercised and shall contain any representation required by the
Plan or the Option Agreement. Payment of the exercise price for the Shares as to which such Option is being exercised shall
be made (a) in United States dollars in cash or by check, or (b) at the discretion of the Administrator, through
delivery of shares of Common Stock held for at least six months (if required to avoid negative accounting treatment) having a
Fair Market Value equal as of the date of the exercise to the aggregate cash exercise price for the number of Shares as to
which the Option is being exercised, or (c) at the discretion of the Administrator, by having the Company retain from
the Shares otherwise issuable upon exercise of the Option, a number of Shares having a Fair Market Value equal as of the date
of exercise to the aggregate exercise price for the number of Shares as to which the Option is being exercised, or (d) at the
discretion of the Administrator (after consideration of applicable securities, tax and accounting implications), by delivery
of the grantee’s personal recourse note bearing interest payable not less than annually at no less than one hundred
(100%) of the applicable Federal rate, as defined in Section 1274(d) of the Code, or (e) at the discretion of the
Administrator, in accordance with a cashless exercise program established with a securities brokerage firm, and approved by
the Administrator, or (f) at the discretion of the Administrator, by any combination of (a), (b), (c), (d) and (e) above
or (g) at the discretion of the Administrator, by payment of such other lawful consideration as the Administrator may
determine. Notwithstanding the foregoing, the Administrator shall accept only such payment on exercise of an ISO as is
permitted by Section 422 of the Code.

 

The Company shall then
reasonably promptly deliver the Shares as to which such Option was exercised to the Participant (or to the Participant’s
Survivors, as the case may be). In determining what constitutes “reasonably promptly,” it is expressly understood that
the issuance and delivery of the Shares may be delayed by the Company in order to comply with any law or regulation (including,
without limitation, state securities or “blue sky” laws) which requires the Company to take any action with respect
to the Shares prior to their issuance. The Shares shall, upon delivery, be fully paid, non-assessable Shares.

 

		10.	PAYMENT IN CONNECTION WITH THE ISSUANCE OF STOCK GRANTS AND STOCK-BASED AWARDS AND ISSUE OF
SHARES.

 

Any Stock Grant or
Stock-Based Award requiring payment of a purchase price for the Shares as to which such Stock Grant or Stock-Based Award is being
granted shall be made (a) in United States dollars in cash or by check, or (b) at the discretion of the Administrator, through
delivery of shares of Common Stock held for at least six months (if required to avoid negative accounting treatment) and having
a Fair Market Value equal as of the date of payment to the purchase price of the Stock Grant or Stock-Based Award, or (c) at the
discretion of the Administrator (after consideration of applicable securities, tax and accounting implications), by delivery of
the grantee’s personal recourse note bearing interest payable not less than annually at no less than one hundred percent
(100%) of the applicable Federal rate, as defined in Section 1274(d) of the Code, or (d) at the discretion of the Administrator,
by any combination of (a), (b) and (c) above; or (e) at the discretion of the Administrator, by payment of such other lawful consideration
as the Administrator may determine.

 

The Company shall when
required by the applicable Agreement, reasonably promptly deliver the Shares as to which such Stock Grant or Stock-Based Award
was made to the Participant (or to the Participant’s Survivors, as the case may be), subject to any escrow provision set
forth in the applicable Agreement. In determining what constitutes “reasonably promptly,” it is expressly understood
that the issuance and delivery of the Shares may be delayed by the Company in order to comply with any law or regulation (including,
without limitation, state securities or “blue sky” laws) which requires the Company to take any action with respect
to the Shares prior to their issuance.

 

		11.	RIGHTS AS A SHAREHOLDER.

 

No Participant to whom
a Stock Right has been granted shall have rights as a shareholder with respect to any Shares covered by such Stock Right except
after due exercise of an Option or issuance of Shares as set forth in any Agreement, tender of the aggregate exercise or purchase
price, if any, for the Shares being purchased and registration of the Shares in the Company’s share register in the name
of the Participant.

 

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		12.	ASSIGNABILITY AND TRANSFERABILITY OF STOCK RIGHTS.

 

By its terms, a Stock
Right granted to a Participant shall not be transferable by the Participant other than (i) by will or by the laws of descent and
distribution, or (ii) as approved by the Administrator in its discretion and set forth in the applicable Agreement, provided that
no Stock Right may be transferred by a Participant for value. Notwithstanding the foregoing, an ISO transferred except in compliance
with clause (i) above shall no longer qualify as an ISO. The designation of a beneficiary of a Stock Right by a Participant, with
the prior approval of the Administrator and in such form as the Administrator shall prescribe, shall not be deemed a transfer prohibited
by this Paragraph. Except as provided above during the Participant’s lifetime a Stock Right shall only be exercisable by
or issued to such Participant (or his or her legal representative) and shall not be assigned, pledged or hypothecated in any way
(whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process. Any attempted
transfer, assignment, pledge, hypothecation or other disposition of any Stock Right or of any rights granted thereunder contrary
to the provisions of this Plan, or the levy of any attachment or similar process upon a Stock Right, shall be null and void.

 

		13.	EFFECT ON OPTIONS OF TERMINATION OF SERVICE OTHER THAN FOR CAUSE OR DEATH OR DISABILITY.

 

Except as otherwise
provided in a Participant’s Option Agreement, in the event of a termination of service (whether as an Employee, director
or Consultant) with the Company or an Affiliate before the Participant has exercised an Option, the following rules apply:

 

(a)              
A Participant who ceases to be an Employee, director or Consultant of the Company or of an Affiliate (for any reason other
than termination for Cause, Disability, or death for which events there are special rules in Paragraphs 14, 15, and 16, respectively),
may exercise any Option granted to him or her to the extent that the Option is exercisable on the date of such termination of service,
but only within such term as the Administrator has designated in a Participant’s Option Agreement.

 

(b)              
Except as provided in Subparagraph (c) below, or Paragraph 15 or 16, in no event may an Option intended to be an ISO, be
exercised later than three months after the Participant’s termination of employment.

 

(c)               The
provisions of this Paragraph, and not the provisions of Paragraph 15 or 16, shall apply to a Participant who
subsequently becomes Disabled or dies after the termination of employment, director status or consultancy; provided, however,
in the case of a Participant’s Disability or death within three months after the termination of employment, director
status or consultancy, the Participant or the Participant’s Survivors may exercise the Option within one year after the
date of the Participant’s termination of service, but in no event after the date of expiration of the term of the
Option.

 

(d)              
Notwithstanding anything herein to the contrary, if subsequent to a Participant’s termination of employment, termination
of director status or termination of consultancy, but prior to the exercise of an Option, the Administrator determines that, either
prior or subsequent to the Participant’s termination, the Participant engaged in conduct which would constitute Cause, then
such Participant shall forthwith cease to have any right to exercise any Option.

 

(e)              
A Participant to whom an Option has been granted under the Plan who is absent from the Company or an Affiliate because of
temporary disability (any disability other than a Disability as defined in Paragraph 1 hereof), or who is on leave of absence for
any purpose, shall not, during the period of any such absence, be deemed, by virtue of such absence alone, to have terminated such
Participant’s employment, director status or consultancy with the Company or with an Affiliate, except as the Administrator
may otherwise expressly provide; provided, however, that, for ISOs, any leave of absence granted by the Administrator of greater
than three months, unless pursuant to a contract or statute that guarantees the right to reemployment, shall cause such ISO to
become a Non-Qualified Option on the date that is six months following the commencement of such leave of absence.

 

(f)               
Except as required by law or as set forth in a Participant’s Option Agreement, Options granted under the Plan shall
not be affected by any change of a Participant’s status within or among the Company and any Affiliates, so long as the Participant
continues to be an Employee, director or Consultant of the Company or any Affiliate.

 

    9

     

    

 

		14.	EFFECT ON OPTIONS OF TERMINATION OF SERVICE FOR CAUSE.

 

Except as otherwise
provided in a Participant’s Option Agreement, the following rules apply if the Participant’s service (whether as an
Employee, director or Consultant) with the Company or an Affiliate is terminated for Cause prior to the time that all of his or
her outstanding Options have been exercised:

 

(a)              
All outstanding and unexercised Options as of the time the Participant is notified his or her service is terminated for
Cause will immediately be forfeited.

 

(b)              
Cause is not limited to events which have occurred prior to a Participant’s termination of service, nor is it necessary
that the Administrator’s finding of Cause occur prior to termination. If the Administrator determines, subsequent to a Participant’s
termination of service but prior to the exercise of an Option, that either prior or subsequent to the Participant’s termination
the Participant engaged in conduct which would constitute Cause, then the right to exercise any Option is forfeited.

 

		15.	EFFECT ON OPTIONS OF TERMINATION OF SERVICE FOR DISABILITY.

 

Except as otherwise
provided in a Participant’s Option Agreement,

 

(a)              
A Participant who ceases to be an Employee, director or Consultant of the Company or of an Affiliate by reason of Disability
may exercise any Option granted to such Participant:

 

		(i)	To the extent that the Option has become exercisable but has not been exercised on the date of
the Participant’s termination of service due to Disability; and

 

		(ii)	In the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion
through the date of the Participant’s termination of service due to Disability of any additional vesting rights that would
have accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number of
days accrued in the current vesting period prior to the date of the Participant’s termination of service due to Disability.

 

(b)              
A Disabled Participant may exercise the Option only within the period ending one year after the date of the Participant’s
termination of service due to Disability, notwithstanding that the Participant might have been able to exercise the Option as to
some or all of the Shares on a later date if the Participant had not been terminated due to Disability and had continued to be
an Employee, director or Consultant or, if earlier, within the originally prescribed term of the Option.

 

(c)              
The Administrator shall make the determination both of whether Disability has occurred and the date of its occurrence (unless
a procedure for such determination is set forth in another agreement between the Company and such Participant, in which case such
procedure shall be used for such determination). If requested, the Participant shall be examined by a physician selected or approved
by the Administrator, the cost of which examination shall be paid for by the Company.

 

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		16.	EFFECT ON OPTIONS OF DEATH WHILE AN EMPLOYEE, DIRECTOR OR CONSULTANT.

 

Except as otherwise
provided in a Participant’s Option Agreement,

 

(a)              
In the event of the death of a Participant while the Participant is an Employee, director or Consultant of the Company or
of an Affiliate, such Option may be exercised by the Participant’s Survivors:

 

		(i)	To the extent that the Option has become exercisable but has not been exercised on the date of
death; and

 

		(ii)	In the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion
through the date of death of any additional vesting rights that would have accrued on the next vesting date had the Participant
not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the Participant’s
date of death.

 

(b)              
If the Participant’s Survivors wish to exercise the Option, they must take all necessary steps to exercise the Option
within one year after the date of death of such Participant, notwithstanding that the decedent might have been able to exercise
the Option as to some or all of the Shares on a later date if he or she had not died and had continued to be an Employee, director
or Consultant or, if earlier, within the originally prescribed term of the Option.

 

		17.	EFFECT OF TERMINATION OF SERVICE ON UNACCEpTED STOCK GRANTS AND STOCK-BASED AWARDS.

 

In the event of a termination
of service (whether as an Employee, director or Consultant) with the Company or an Affiliate for any reason before the Participant
has accepted a Stock Grant or a Stock-Based Award and paid the purchase price, if required at the time, such grant shall terminate.

 

For purposes of this
Paragraph 17 and Paragraph 18 below, a Participant to whom a Stock Grant or a Stock-Based Award has been issued under the Plan
who is absent from work with the Company or with an Affiliate because of temporary disability (any disability other than a Disability
as defined in Paragraph 1 hereof), or who is on leave of absence for any purpose, shall not, during the period of any such absence,
be deemed, by virtue of such absence alone, to have terminated such Participant’s employment, director status or consultancy
with the Company or with an Affiliate, except as the Administrator may otherwise expressly provide.

 

In addition, for purposes
of this Paragraph 17 and Paragraph 18 below, any change of employment or other service within or among the Company and any Affiliates
shall not be treated as a termination of employment, director status or consultancy so long as the Participant continues to be
an Employee, director or Consultant of the Company or any Affiliate.

 

		18.	EFFECT ON STOCK GRANTS AND STOCK-BASED AWARDS OF TERMINATION OF SERVICE OTHER THAN FOR CAUSE,
DEATH OR DISABILITY.

 

Except as otherwise
provided in a Participant’s Agreement, in the event of a termination of service (whether as an Employee, director or Consultant),
other than termination for Cause, death or Disability for which events there are special rules in Paragraphs 19, 20, and 21, respectively,
before all forfeiture provisions or Company rights of repurchase shall have lapsed, then the Company shall have the right to cancel
or repurchase that number of Shares subject to a Stock Grant or Stock-Based Award as to which the Company’s forfeiture or
repurchase rights have not lapsed.

 

    11

     

    

 

		19.	EFFECT ON STOCK GRANTS AND STOCK-BASED AWARDS OF TERMINATION OF SERVICE FOR CAUSE.

 

Except as otherwise
provided in a Participant’s Agreement, the following rules apply if the Participant’s service (whether as an Employee,
director or Consultant) with the Company or an Affiliate is terminated for Cause:

 

(a)              
All Shares subject to any Stock Grant or Stock-Based Award whether or not then subject to forfeiture or repurchase shall
be immediately subject to repurchase by the Company at par value.

 

(b)              
Cause is not limited to events which have occurred prior to a Participant’s termination of service, nor is it necessary
that the Administrator’s finding of Cause occur prior to termination. If the Administrator determines, subsequent to a Participant’s
termination of service, that either prior or subsequent to the Participant’s termination the Participant engaged in conduct
which would constitute Cause, then all Shares subject to any Stock Grant or Stock-Based Award that remained subject to forfeiture
provisions or as to which the Company had a repurchase right on the date of termination shall be immediately forfeited to the Company.

 

		20.	EFFECT ON STOCK GRANTS AND STOCK-BASED AWARDS OF TERMINATION OF SERVICE FOR DISABILITY.

 

Except as otherwise
provided in a Participant’s Agreement, the following rules apply if a Participant ceases to be an Employee, director or Consultant
of the Company or of an Affiliate by reason of Disability: to the extent the forfeiture provisions or the Company’s rights
of repurchase have not lapsed on the date of Disability, they shall be exercisable; provided, however, that in the event such forfeiture
provisions or rights of repurchase lapse periodically, such provisions or rights shall lapse to the extent of a pro rata portion
of the Shares subject to such Stock Grant or Stock-Based Award through the date of Disability as would have lapsed had the Participant
not become Disabled. The proration shall be based upon the number of days accrued prior to the date of Disability.

 

The Administrator shall
make the determination both as to whether Disability has occurred and the date of its occurrence (unless a procedure for such determination
is set forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such
determination). If requested, the Participant shall be examined by a physician selected or approved by the Administrator, the cost
of which examination shall be paid for by the Company.

 

		21.	EFFECT ON STOCK GRANTS AND STOCK-BASED AWARDS OF DEATH WHILE AN EMPLOYEE, DIRECTOR OR CONSULTANT.

 

Except as otherwise
provided in a Participant’s Agreement, the following rules apply in the event of the death of a Participant while the Participant
is an Employee, director or Consultant of the Company or of an Affiliate: to the extent the forfeiture provisions or the Company’s
rights of repurchase have not lapsed on the date of death, they shall be exercisable; provided, however, that in the event such
forfeiture provisions or rights of repurchase lapse periodically, such provisions or rights shall lapse to the extent of a pro
rata portion of the Shares subject to such Stock Grant or Stock-Based Award through the date of death as would have lapsed had
the Participant not died. The proration shall be based upon the number of days accrued prior to the Participant’s date of
death.

 

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		22.	PURCHASE FOR INVESTMENT.

 

Unless the offering
and sale of the Shares shall have been effectively registered under the Securities Act, the Company shall be under no obligation
to issue Shares under the Plan unless and until the following conditions have been fulfilled:

 

(a)              
The person who receives a Stock Right shall warrant to the Company, prior to the receipt of Shares, that such person is
acquiring such Shares for his or her own account, for investment, and not with a view to, or for sale in connection with, the distribution
of any such Shares, in which event the person acquiring such Shares shall be bound by the provisions of the following legend (or
a legend in substantially similar form) which shall be endorsed upon the certificate evidencing the Shares issued pursuant to such
exercise or such grant:

 

“The shares represented
by this certificate have been taken for investment and they may not be sold or otherwise transferred by any person, including a
pledgee, unless (1) either (a) a Registration Statement with respect to such shares shall be effective under the Securities Act
of 1933, as amended, or (b) the Company shall have received an opinion of counsel satisfactory to it that an exemption from registration
under such Act is then available, and (2) there shall have been compliance with all applicable state securities laws.”

 

(b)              
At the discretion of the Administrator, the Company shall have received an opinion of its counsel that the Shares may be
issued in compliance with the Securities Act without registration thereunder.

 

		23.	DISSOLUTION OR LIQUIDATION OF THE COMPANY.

 

Upon the dissolution
or liquidation of the Company, all Options granted under this Plan which as of such date shall not have been exercised and all
Stock Grants and Stock-Based Awards which have not been accepted, to the extent required under the applicable Agreement, will terminate
and become null and void; provided, however, that if the rights of a Participant or a Participant’s Survivors have not otherwise
terminated and expired, the Participant or the Participant’s Survivors will have the right immediately prior to such dissolution
or liquidation to exercise or accept any Stock Right to the extent that the Stock Right is exercisable or subject to acceptance
as of the date immediately prior to such dissolution or liquidation. Upon the dissolution or liquidation of the Company, any outstanding
Stock-Based Awards shall immediately terminate unless otherwise determined by the Administrator or specifically provided in the
applicable Agreement.

 

		24.	ADJUSTMENTS.

 

Upon the occurrence
of any of the following events, a Participant’s rights with respect to any Stock Right granted to him or her hereunder shall
be adjusted as hereinafter provided, unless otherwise specifically provided in a Participant’s Agreement:

 

(a)               Stock
Dividends and Stock Splits. If (i) the shares of Common Stock shall be subdivided or combined into a greater or
smaller number of shares or if the Company shall issue any shares of Common Stock as a stock dividend on its
outstanding Common Stock, or (ii) additional shares or new or different shares or other securities of the Company or
other non-cash assets are distributed with respect to such shares of Common Stock, each Stock Right and the number of shares
of Common Stock deliverable thereunder shall be appropriately increased or decreased proportionately, and appropriate
adjustments shall be made including, to the exercise, base or purchase price per share, to reflect such events. The number of
Shares subject to the limitations in Paragraphs 3 and 4 shall also be proportionately adjusted upon the occurrence of such
events.

 

    13

     

    

 

(b)              
Corporate Transactions. If the Company is to be consolidated with or acquired by another entity in a merger, consolidation,
sale of all or substantially all of the Company’s assets or the acquisition of all of the outstanding voting stock of the
Company in a single transaction or a series of related transactions by a single entity other than a transaction to merely change
the state of incorporation (a “Corporate Transaction”), the Administrator or the board of directors of any entity assuming
the obligations of the Company hereunder (the “Successor Board”), shall, as to outstanding Options, either (i) make
appropriate provision for the continuation of such Options by substituting on an equitable basis for the Shares then subject to
such Options either the consideration payable with respect to the outstanding shares of Common Stock in connection with the Corporate
Transaction or securities of any successor or acquiring entity; or (ii) upon written notice to the Participants, provide that such
Options must be exercised (either (A) to the extent then exercisable or, (B) at the discretion of the Administrator, any such Options
being made partially or fully exercisable for purposes of this Subparagraph), within a specified number of days of the date of
such notice, at the end of which period such Options which have not been exercised shall terminate; or (iii) terminate such Options
in exchange for payment of an amount equal to the consideration payable upon consummation of such Corporate Transaction to a holder
of the number of shares of Common Stock into which such Option would have been exercisable (either (A) to the extent then exercisable
or, (B) at the discretion of the Administrator, any such Options being made partially or fully exercisable for purposes of this
Subparagraph) less the aggregate exercise price thereof. For purposes of determining the payments to be made pursuant to
Subclause (iii) above, in the case of a Corporate Transaction the consideration for which, in whole or in part, is other than cash,
the consideration other than cash shall be valued at the fair value thereof as determined in good faith by the Board of Directors.

 

With respect to outstanding
Stock Grants, the Administrator or the Successor Board, shall make appropriate provision for the continuation of such Stock Grants
on the same terms and conditions by substituting on an equitable basis for the Shares then subject to such Stock Grants either
the consideration payable with respect to the outstanding Shares of Common Stock in connection with the Corporate Transaction or
securities of any successor or acquiring entity. In lieu of the foregoing, in connection with any Corporate Transaction, the Administrator
may provide that, upon consummation of the Corporate Transaction, each outstanding Stock Grant shall be terminated in exchange
for payment of an amount equal to the consideration payable upon consummation of such Corporate Transaction to a holder of the
number of shares of Common Stock comprising such Stock Grant (to the extent such Stock Grant is no longer subject to any forfeiture
or repurchase rights then in effect or, at the discretion of the Administrator, all forfeiture and repurchase rights being waived
upon such Corporate Transaction). For purposes of determining such payments, in the case of a Corporate Transaction the consideration
for which, in whole or in part, is other than cash, the consideration other than cash shall be valued at the fair value thereof
as determined in good faith by the Board of Directors.

 

In taking any of the
actions permitted under this Paragraph 24(b), the Administrator shall not be obligated by the Plan to treat all Stock Rights, all
Stock Rights held by a Participant, or all Stock Rights of the same type, identically.

 

(c)              
Recapitalization or Reorganization. In the event of a recapitalization or reorganization of the Company other than
a Corporate Transaction pursuant to which securities of the Company or of another corporation are issued with respect to the outstanding
shares of Common Stock, a Participant upon exercising an Option or accepting a Stock Grant after the recapitalization or reorganization
shall be entitled to receive for the price paid upon such exercise or acceptance if any, the number of replacement securities which
would have been received if such Option had been exercised or Stock Grant accepted prior to such recapitalization or reorganization.

 

(d)              
Adjustments to Stock-Based Awards. Upon the happening of any of the events described in Subparagraphs (a), (b) or
(c) above, any outstanding Stock-Based Award shall be appropriately adjusted to reflect the events described in such Subparagraphs.
The Administrator or the Successor Board shall determine the specific adjustments to be made under this Paragraph 24, including,
but not limited to the effect of any Corporate Transaction and, subject to Paragraph 4, its determination shall be conclusive.

 

(e)              
Modification of Options. Notwithstanding the foregoing, any adjustments made pursuant to Subparagraph (a), (b) or
(c) above with respect to Options shall be made only after the Administrator determines whether such adjustments would (i) constitute
a “modification” of any ISOs (as that term is defined in Section 424(h) of the Code) or (ii) cause any adverse
tax consequences for the holders of Options, including, but not limited to, pursuant to Section 409A of the Code. If the Administrator
determines that such adjustments made with respect to Options would constitute a modification or other adverse tax consequence,
it may in its discretion refrain from making such adjustments, unless the holder of an Option specifically agrees in writing that
such adjustment be made and such writing indicates that the holder has full knowledge of the consequences of such “modification”
on his or her income tax treatment with respect to the Option. This paragraph shall not apply to the acceleration of the vesting
of any ISO that would cause any portion of the ISO to violate the annual vesting limitation contained in Section 422(d) of the
Code, as described in Paragraph 6(b)(iv).

 

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		25.	ISSUANCES OF SECURITIES.

 

Except as expressly
provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of
any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares subject
to Stock Rights. Except as expressly provided herein, no adjustments shall be made for dividends paid in cash or in property (including
without limitation, securities) of the Company prior to any issuance of Shares pursuant to a Stock Right.

 

		26.	FRACTIONAL SHARES.

 

No fractional shares
shall be issued under the Plan and the person exercising a Stock Right shall receive from the Company cash in lieu of such fractional
shares equal to the Fair Market Value thereof.

 

		27.	WITHHOLDING.

 

In the event that any
federal, state, or local income taxes, employment taxes, Federal Insurance Contributions Act withholdings or other amounts are
required by applicable law or governmental regulation to be withheld from the Participant’s salary, wages or other remuneration
in connection with the issuance of a Stock Right or Shares under the Plan or for any other reason required by law, the Company
may withhold from the Participant’s compensation, if any, or may require that the Participant advance in cash to the Company,
or to any Affiliate of the Company which employs or employed the Participant, the statutory minimum amount of such withholdings
unless a different withholding arrangement, including the use of shares of the Company’s Common Stock or a promissory note,
is authorized by the Administrator (and permitted by law). For purposes hereof, the fair market value of the shares withheld for
purposes of payroll withholding shall be determined in the manner set forth under the definition of Fair Market Value provided
in Paragraph 1 above, as of the most recent practicable date prior to the date of exercise. If the Fair Market Value of the shares
withheld is less than the amount of payroll withholdings required, the Participant may be required to advance the difference in
cash to the Company or the Affiliate employer.

 

		28.	NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION.

 

Each Employee who receives
an ISO shall notify the Company in writing immediately after the Employee makes a Disqualifying Disposition of any Shares acquired
pursuant to the exercise of an ISO. A Disqualifying Disposition is defined in Section 424(c) of the Code and includes any disposition
(including any sale or gift) of such Shares before the later of (a) two years after the date the Employee was granted the ISO,
or (b) one year after the date the Employee acquired Shares by exercising the ISO, except as otherwise provided in Section 424(c)
of the Code. If the Employee has died before such Shares are sold, these holding period requirements do not apply and no Disqualifying
Disposition can occur thereafter.

 

		29.	TERMINATION OF THE PLAN.

 

The Plan will terminate
on December 12, 2029. The Plan may be terminated at an earlier date by vote of the shareholders or the Board of Directors of the
Company; provided, however, that any such earlier termination shall not affect any Agreements executed prior to the effective date
of such termination. Termination of the Plan shall not affect any Stock Rights theretofore granted.

 

    15

     

    

 

		30.	AMENDMENT OF THE PLAN AND AGREEMENTS.

 

The Plan may be
amended by the shareholders of the Company. The Plan may also be amended by the Administrator, including, without limitation,
to the extent necessary to qualify any or all outstanding Stock Rights granted under the Plan or Stock Rights to be granted
under the Plan for favorable federal income tax treatment as may be afforded ISOs under Section 422 of the Code (including
deferral of taxation upon exercise), and to the extent necessary to qualify the Shares issuable under the Plan for listing on
any national securities exchange or quotation in any national automated quotation system of securities dealers. Any amendment
approved by the Administrator which the Administrator determines is of a scope that requires shareholder approval shall be
subject to obtaining such shareholder approval. Any modification or amendment of the Plan shall not, without the consent of a
Participant, adversely affect his or her rights under a Stock Right previously granted to him or her, unless such amendment
is required by applicable law or necessary to preserve the economic value of such Stock Right. With the consent of the
Participant affected, the Administrator may amend outstanding Agreements in a manner which may be adverse to the Participant
but which is not inconsistent with the Plan. In the discretion of the Administrator, outstanding Agreements may be amended by
the Administrator in a manner which is not adverse to the Participant. Nothing in this Paragraph 30 shall limit the
Administrator’s authority to take any action permitted pursuant to Paragraph 24.

 

		31.	EMPLOYMENT OR OTHER RELATIONSHIP.

 

Nothing in this Plan
or any Agreement shall be deemed to prevent the Company or an Affiliate from terminating the employment, consultancy or director
status of a Participant, nor to prevent a Participant from terminating his or her own employment, consultancy or director status
or to give any Participant a right to be retained in employment or other service by the Company or any Affiliate for any period
of time.

 

		32.	GOVERNING LAW.

 

This Plan shall be
construed and enforced in accordance with the law of the State of Delaware.

 

    16

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