Document:

Exhibit 10.6

 

SUBSCRIPTION AGREEMENT

 

This SUBSCRIPTION AGREEMENT
(this “Subscription Agreement”) is made by and between DanDrit Biotech USA, Inc. a Delaware corporation (the
“Company”), and the undersigned (“Subscriber”) as of the date this Subscription Agreement
is accepted by the Company, as set forth on the Company’s signature page hereto.

 

WHEREAS, subject to
the terms and conditions set forth in this Agreement, and pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended
(the “Securities Act”) and Regulation S under the Securities Act, the Company desires to issue and sell to the
Subscriber, and the Subscriber desires to purchase from the Company, that number of shares of the Company’s common stock,
$0.0001 par value per share (“Common Stock”) set forth on the signature page hereto, to persons who are not
U.S. persons under Regulation S in a private placement (the “Offering”); and

 

WHEREAS, the Subscriber
understands that the Offering is being made without registration of the Common Stock under the Securities Act of 1933, as amended
(the “Securities Act”), or any securities law of any state of the United States or of any other jurisdiction,
and is being made only non-U.S. persons.

 

NOW, THEREFORE, for
and in consideration of the premises and the mutual covenants hereinafter set forth, the parties hereto do hereby agree as follows:

 

1.
Subscription for Shares.

 

(a)
Subscription for Shares. Subject to the terms and conditions hereinafter set forth, Subscriber hereby irrevocably subscribes
for and agrees to purchase from the Company such amounts of Common Stock as is set forth on the signature page hereof (the “Shares”)
at a price per Share and for an aggregate purchase price as set forth on the signature page hereof (the “Purchase Price”),
and the Company agrees to sell such Shares to Subscriber for the Purchase Price, subject to the Company’s right, in its sole
discretion, to reject this subscription, in whole or in part, at any time prior to the Closing (as defined below). Subscriber acknowledges
that Subscriber is not entitled to cancel, terminate or revoke this Subscription Agreement. Subscriber further acknowledges that
the Shares will be subject to restrictions on transfer as set forth in this Subscription Agreement.

 

2.
Terms of Subscription.

 

(a)
Payment. Subscriber shall make payment for the Shares to an account designated by the Company in an amount equal to the
Purchase Price by wire transfer of immediately available funds at or prior to the Closing.

 

(b)   Acceptance
of Subscription and Issuance of Shares. It is understood and agreed that the Company shall have the sole right, at its complete
discretion, to accept or reject this subscription, in whole or in part, for any reason and that the same shall be deemed to be
accepted by the Company only when it is signed by a duly authorized officer of the Company and delivered to the undersigned at
the Closing (as defined below). Notwithstanding anything in this Subscription Agreement to the contrary, the Company shall have
no obligation to issue any of the Shares to any person who is a resident of a jurisdiction in which the issuance of Shares to such
person would constitute a violation of the securities, “blue sky” or other similar laws.

 

     

     

    

 

(b)
Closing. The Offering may be consummated at such place (or by electronic transmission) as may be mutually agreed upon by
the parties at a closing (the “Closing”) to occur on a date as may be determined by the Company, at a time as
may be determined by the Company. Subsequent closings may occur at the discretion of the Company.

 

(c)
Closing Deliverables. At the Closing: (i) Subscriber shall deliver the Purchase Price; and (ii) the Company shall deliver a
share certificate representing the Shares to Subscriber that bears an appropriate legend referring to the fact that the Shares
are subject to transfer restrictions as set forth in the Securities Act.

 

3.
Representations and Warranties of Subscriber.

 

Subscriber represents
and warrants to the Company that:

 

(a)
Reliance on Exemptions. Subscriber understands that the Shares are being offered and sold in reliance upon specific exemptions
from registration provided in the Securities Act, and acknowledges that the Offering has not been reviewed by the Securities and
Exchange Commission or any state agency because it is intended to be an offering exempt from the registration requirements of the
Securities Act pursuant to Regulation S under the Securities Act. Subscriber understands that the Company is relying upon, and
intends that the Company rely upon, the truth and accuracy of, and Subscriber’s compliance with, the representations, warranties,
agreements, acknowledgments and understandings of Subscriber set forth herein in order to determine the availability of such exemptions
and the eligibility of Subscriber to acquire the Shares. The Company may only make offers to sell the Shares to persons outside
the United States in this Offering and, if applicable, at the time any buy order is originated, the buyer is outside the United
States. The undersigned has not received an offer to purchase Shares inside the United States and will not originate a buy order
inside the United States.

 

(b) Non-U.S.
Person(c). Subscriber is not and is not acquiring the securities for the account or benefit of:

 

(i)
a natural person resident in the United States;

 

(ii)     
a partnership or corporation organized or incorporated under the laws of the United States;

 

(iii)
an estate of which any executor or administrator is a U.S. person;

 

(iv)
a trust of which any trustee is a U.S. person;

 

(v)
an agency or branch of a foreign entity located in the United States;

 

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(vi)
a non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit
or account any of the foregoing; or

 

(vii)
a partnership or corporation (A) organized or incorporated under the laws of any foreign jurisdiction, and (B) Formed by a U.S.
person principally for the purpose of investing in securities not registered under the Act, unless it is organized or incorporated,
and owned, by accredited investors (as defined in Regulation D under the Securities Act) who are not natural persons, estates or
trusts.

 

(d)
Investment Purpose. The Shares are being purchased for Subscriber’s own account, for investment purposes only and
not with a view to sale or resale, distribution or fractionalization of the securities under applicable U.S. federal or state securities
laws. The undersigned is not acquiring such securities for the account or benefit of any U.S. person and was not organized for
the specific purpose of acquiring such securities. The undersigned will not (i) resell or offer to resell the securities, or any
portion thereof, or (ii) engage in hedging transactions, in each case, except in accordance with the terms of this Agreement and
in accordance with Regulation S under the Securities Act, pursuant to registration under the Securities Act or pursuant to an available
exemption from registration under the Securities Act and otherwise in compliance with all applicable securities laws. Furthermore,
prior to engaging in any hedging transaction or any resale of the securities, or any portion thereof, by the undersigned, the undersigned
shall provide the Company with an opinion of counsel acceptable to the Company in its sole discretion and in a form acceptable
to the Company in its sole discretion, that any such proposed sale or hedging transaction is in compliance with the Securities
Act or an exemption therefrom. Subscriber has no contract, undertaking, agreement, or arrangement with any person to sell, distribute,
transfer, or pledge to such person or anyone else the Shares which Subscriber hereby subscribes to purchase, or any interest therein,
and Subscriber has no present plans to enter into any such contract, undertaking, agreement, or arrangement. Subscriber agrees
that the Company and its affiliates shall not be required to give effect to any purported transfer of such Shares except upon compliance
with the foregoing restrictions.

 

(e)
Risk of Investment. Subscriber recognizes that the purchase of the Shares involves a high degree of risk in that: (i) an
investment in the Company is highly speculative and only investors who can afford the loss of their entire investment should consider
investing in the Company and the Shares; (ii) transferability of the Shares is limited; and (iii) the Company may require substantial
additional funds to operate its business and there can be no assurance that the Offering will be completed.

 

(f)
Use of Proceeds. Subscriber understands that the net proceeds of the Offering will be used to finance the acquisition by
the Company of Enochian Biopharma, Inc. (“Enochian”) and related professional costs associated with such acquisition.

 

(g)
Prior Investment Experience. Subscriber understands the business in which the Company is engaged and has such knowledge
and experience in business and financial matters that Subscriber is capable of evaluating the merits and risks of the investment
in the Shares. Subscriber has prior investment experience, and Subscriber recognizes the highly speculative nature of this investment.

 

    	 	- 3 -	 

     

    

 

(h)
Information and Non-Reliance.

 

(i)
Subscriber acknowledges that Subscriber has carefully reviewed this Subscription Agreement, which Subscriber acknowledges has
been provided to Subscriber. Subscriber has been given the opportunity to ask questions of, and receive answers from, the
Company concerning the terms and conditions of this Offering and the Subscription Agreement and to obtain such additional
information, to the extent the Company possesses such information or can acquire it without unreasonable effort or expense,
necessary to verify the accuracy of same as Subscriber reasonably desires in order to evaluate the investment. Subscriber
understands the Subscription Agreement, and Subscriber has had the opportunity to discuss any questions regarding the
Subscription Agreement with Subscriber’s counsel or other advisor. Notwithstanding the foregoing, the only information
upon which Subscriber has relied is that set forth in the Subscription Agreement and the results of independent investigation
by Subscriber. Subscriber has received no representations or warranties from the Company, its employees, agents or attorneys
in making this investment decision other than as set forth in the Subscription Agreement. Subscriber does not desire to
receive any further information.

 

(ii)     
The Subscriber represents that it is not relying on (and will not at any time rely on) any communication (written or oral) of the
Company, as investment advice or as a recommendation to purchase the Shares, it being understood that information and explanations
related to the terms and conditions of the Shares and the Subscription Agreement shall not be considered investment advice or a
recommendation to purchase the Shares.

 

(iii)
The Subscriber confirms that the Company has not (i) given any guarantee or representation as to the potential success, return,
effect or benefit (either legal, regulatory, tax, financial, accounting or otherwise) an of investment in the Shares or (ii) made
any representation to the Subscriber regarding the legality of an investment in the Shares under applicable legal investment or
similar laws or regulations. In deciding to purchase the Shares, the Subscriber is not relying on the advice or recommendations
of the Company and the Subscriber has made its own independent decision that the investment in the Shares is suitable and appropriate
for the Subscriber.

 

(i)
Tax Consequences. Subscriber acknowledges that the Offering may involve tax consequences and that the contents of the Subscription
Agreement do not contain tax advice or information. Subscriber acknowledges that Subscriber must retain Subscriber’s own
professional advisors to evaluate the tax and other consequences of an investment in the Shares. Subscriber intends to acquire
the Shares without regard to tax consequences.

 

    	 	- 4 -	 

     

    

 

(j)
Transfer or Resale. Subscriber understands that the Shares have not been registered under the Securities Act or the securities
laws of any state and, as a result thereof, are subject to substantial restrictions on transfer. Subscriber acknowledges that Subscriber
may be precluded from selling or otherwise disposing of the Shares for an indefinite period of time and that in no circumstance
may the Shares be transferred to any U.S. Person, as defined by Rule 902(k) of Regulation S under the Securities Act for six (6)
months. Subscriber understands and hereby acknowledges that the Company is under no obligation to register the Shares under the
Securities Act. Subscriber consents that the Company may, if it desires, permit the transfer of the Shares out of Subscriber’s
name only when Subscriber’s request for transfer is accompanied by an opinion of counsel reasonably satisfactory to the Company
that neither the sale nor the proposed transfer results in a violation of the Securities Act or any applicable state “blue
sky” laws. Notwithstanding any of the foregoing, Subscriber acknowledges that the Company may refuse to register any transfer
of the Shares if such transfer is not made in accordance with the provisions of this Regulation S under the Securities Act.

 

(k)
Due Authorization; Enforcement. Subscriber has all requisite power and authority (and in the case of an individual, capacity)
to purchase and hold the Shares, to execute, deliver and perform Subscriber’s obligations under this Subscription Agreement
and when executed and delivered by Subscriber, this Subscription Agreement will constitute legal, valid and binding agreements
of Subscriber enforceable against Subscriber in accordance with their terms, except as enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ and contracting parties’ rights
generally, and except as enforceability may be subject to general principles of equity (regardless of whether such enforceability
is considered in a proceeding in equity or at law).

 

(l)
Address. The residence address of Subscriber furnished by Subscriber on the signature page hereto is Subscriber’s
principal residence if Subscriber is an individual or its principal business address if it is a corporation, partnership, trust
or other entity.

 

(m)
Compliance with Laws. The Subscriber will comply with all applicable laws and regulations in effect in any jurisdiction
in which the Subscriber purchases or sells Shares and obtain any consent, approval or permission required for such purchases or
sales under the laws and regulations of any jurisdiction to which the Subscriber is subject or in which the Subscriber makes such
purchases or sales, and the Company shall have no responsibility therefore.

 

(n)
Accuracy of Representations and Warranties. The information set forth herein concerning Subscriber is true and correct.
The Subscriber understands that, unless the Subscriber notifies the Company in writing to the contrary at or before the Closing,
each of the Subscriber’s representations and warranties contained in this Subscription Agreement will be deemed to have been
reaffirmed and confirmed as of the Closing, taking into account all information received by the Subscriber.

 

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(o)
Entity Representation. If Subscriber is a corporation, partnership, trust or other entity, such entity further represents
and warrants that it was not formed for the purpose of investing in the Company.

 

(p)
Confidentiality. Subscriber has executed and delivered to the Company the Confidentiality Agreement attached hereto as Exhibit
A.

 

4.
Representations and Warranties of the Company.

 

The Company represents
and warrants to Subscriber that:

 

(a)
Organization. The Company is organized and validly existing in good standing under the laws of the state of Delaware.

 

(b)
Due Authorization, Enforcement and Valid Issuance. The Company has all requisite power and authority to execute, deliver
and perform its obligations under this Subscription Agreement, and when executed and delivered by the Company, this Subscription
Agreement will constitute legal, valid and binding agreements of the Company enforceable against the Company in accordance with
its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar
laws affecting creditors’ and contracting parties’ rights generally, and except as enforceability may be subject to
general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). The
Shares have been duly authorized and, when issued and paid for in accordance with the terms of this Subscription Agreement, will
be duly and validly issued, fully paid and nonassessable.

 

(c)
Noncontravention. The execution and delivery of this Subscription Agreement and the consummation of the transactions contemplated
hereby will not conflict with or constitute a violation of, or default under (i) any material agreement to which the Company is
a party or by which it or any of its properties are bound or (ii) the organizational documents of the Company.

 

(d)
Escrow. The proceeds received by the Company shall be held by the Company in a separate non-interest bearing escrow account
and shall only be released immediately prior to the acquisition of Enochian. If the Company does not consummate the acquisition
within the timeframe agreed to by and among the Company, Weird Science, LLC and Enochian, its wholly owned subsidiary, then the
Company shall release the full amount of each investment back to Subscriber.

 

5.
Conditions to Obligations of the Subscriber and the Company.

 

The obligations
of the Subscriber to purchase and pay for the Shares specified on the signature page hereof and of the Company to sell the Shares
are subject to the satisfaction at or prior to the Closing of the following conditions precedent:

 

(a)
Representations and Warranties. The representations and warranties of the Subscriber contained in Section 3 hereof
and of the Company contained in Section 4 hereof shall be true and correct as of the Closing in all respects with the same
effect as though such representations and warranties had been made as of the Closing.

 

    	 	- 6 -	 

     

    

 

6.
Legends.

 

The certificates
representing the Shares sold pursuant to this Subscription Agreement will be imprinted with legends in substantially the following
form:

 

“THE SECURITIES REPRESENTED BY
THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”) AND MAY NOT BE SOLD
OR TRANSFERRED EXCEPT IN ACCORDANCE WITH REGULATION S PROMULGATED UNDER THE ACT. IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE CORPORATION THAT SUCH REGISTRATION IS NOT REQUIRED. HEDGING TRANSACTIONS
INVOLVING THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE CONDUCTED EXCEPT IN COMPLIANCE WITH THE ACT.”

 

Certificates may also bear any other legend
language that may be determined by the Company and its counsel from time to time.

 

7.
United States Anti-Money Laundering Program. The Subscriber understands that the Company’s Board of Directors is required
to comply with applicable anti-money laundering provisions under the United States PATRIOT Act of 2001, as amended (the “USA
PATRIOT Act”). As a condition to acceptance of the Subscriber’s investment in the Company, the Subscriber makes
the representations and agreements set forth on Annex A attached hereto, and agrees to provide to the Company true
and correct copies of the applicable documentation pursuant to the requirements of Annex B, attached hereto. The
Company reserves the right to request such additional information as is necessary to verify the identity of the Subscriber and
the underlying beneficial owner of the Subscriber’s interest in the Company. In the event of delay or failure by the Subscriber
to produce any information required for verification purposes, the Company may refuse to accept a subscription or may cause the
withdrawal of the Subscriber from the Company.

 

8.
Miscellaneous

 

(a)
Notice. Any notices, consents, waivers or other communications required or permitted to be given under the terms of this
Subscription Agreement must be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally;
(ii) upon receipt, when sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and
kept on file by the sending party); or (iii) one (1) business day after deposit with an overnight courier service, in each case
properly addressed to the party to receive the same. The addresses and facsimile numbers for such communications shall be:

 

If to the Company:

 

DanDrit Biotech USA, Inc.

Stumpedyssevej 17, 

2970 Horsholm, Denmark

Phone: +45 391 79840

E-mail: epl@dandrit.com

Attention: Eric Leire, Chief Executive Officer

 

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with a copy to:

 

K&L Gates LLP

200 South Biscayne Boulevard

Suite 3900

Miami, FL 33131

Facsimile:(305) 359-3306

E-mail: clayton.parker@klgates.com

Attention:Clayton
E. Parker, Esq. 

 

If to Subscriber, to its residence
address (or mailing address, if different) and facsimile number set forth at the end of this Subscription Agreement, or to such
other address and/or facsimile number and/or to the attention of such other person as specified by written notice given to the
Company five (5) calendar days prior to the effectiveness of such change.

 

(b)
Entire Agreement; Amendment. This Subscription Agreement, supersedes all other prior oral or written agreements between
Subscriber, the Company, their affiliates and persons acting on their behalf with respect to the matters discussed herein, and
constitutes the entire understanding of the parties with respect to the matters covered herein. No provision of this Subscription
Agreement may be amended or waived other than by an instrument in writing signed by the Company and Subscriber.

 

(c)
Severability. If any provision of this Subscription Agreement shall be invalid or unenforceable in any jurisdiction, such
invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this Subscription Agreement
in that jurisdiction or the validity or enforceability of any provision of this Subscription Agreement in any other jurisdiction.

 

(d)
Governing Law. This Subscription Agreement shall be governed by and construed in accordance with the laws of the state of
Delaware, without giving effect to any choice of law or conflict of law provision or rule.

 

(e)
Successors and Assigns. This Subscription Agreement shall be binding upon and inure to the benefit of the parties and their
respective successors and assigns. Subscriber shall not assign its rights hereunder without the prior written consent of the Company.

 

(f)
No Third Party Beneficiaries. This Subscription Agreement is intended for the benefit of the parties hereto and their respective
permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

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(g)
Notification of Changes. The Subscriber hereby covenants and agrees to notify the Company upon the occurrence of any event
prior to the closing of the purchase of the Shares pursuant to this Subscription Agreement which would cause any representation,
warranty or covenant of the Subscriber contained in this Subscription Agreement to be false or incorrect.

 

(h)
Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things,
and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably
request in order to carry out the intent and accomplish the purposes of this Subscription Agreement and the consummation of the
transactions contemplated hereby.

 

(i)
Legal Representation. Subscriber acknowledges that: (i) Subscriber has read this Subscription Agreement and the annexes
referred to herein; (ii) Subscriber understands that the Company has been represented in the preparation, negotiation and execution
of the Subscription Agreement; and (iii) Subscriber understands the terms and conditions of the Subscription Agreement and is fully
aware of their legal and binding effect.

 

(j)
Expenses. Each party will bear its own costs and expenses (including legal and accounting fees and expenses) incurred in
connection with this Subscription Agreement and the transactions contemplated hereby.

 

(k)
Counterparts. This Subscription Agreement may be executed in counterparts, all of which shall be considered one and the
same agreement. The exchange of signature pages by facsimile transmission, by electronic mail in “portable document format”
(“.pdf”) form or by any other electronic means intended to preserve the original graphic and pictorial appearance of
a document shall constitute effective execution and delivery of this Agreement as to the parties.

 

[SIGNATURE PAGES FOLLOW]

 

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SUBSCRIBER
SIGNATURE PAGE TO SUBSCRIPTION AGREEMENT

 

IN WITNESS WHEREOF,
and intending to be legally bound hereby, Subscriber has caused this Subscription Agreement to be duly executed and, by executing
this signature page, hereby executes, adopts and agrees to all terms, conditions, and representations contained in the foregoing
Subscription Agreement and hereby subscribes for the Shares offered by the Company in the amount set forth below.

 

SUBSCRIBER:

 

 

 

Signature

 

 

 

Print Name

 

 

 

Signature of joint investor, if applicable

 

  

 

Print name of joint investor, if applicable

 

Check one (if applicable)

☐ Tenants in Common

 

☐ JTWROS

 

☐ Tenants by Entirety

 

	Date: ____________ ____, 2018
	Shares (number of shares of Common Stock subscribed for):      ________
	Purchase Price (number of Shares x $________): $            ___

 

	Residence Address:	 	Mailing Address, if different from Residence Address:
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

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COMPANY SIGNATURE PAGE TO SUBSCRIPTION
AGREEMENT

 

– PLEASE DO NOT WRITE BELOW
THIS LINE –

 

COMPANY USE ONLY

 

	 	Accepted and Agreed:
	 	 
	 	DANDRIT BIOTECH USA, INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	As of:	____________ ____, 2018

 

    	 	- 11 -	 

     

    

EXHIBIT
A

 

CONFIDENTIALITY AGREEMENT

 

 

    
Exhibit A

     

    

 

Annex
A

 

UNITED STATES ANTI-MONEY LAUNDERING

 

REPRESENTATIONS AND WARRANTIES

 

In connection with the acquisition of the
Company’s Shares, the Subscriber hereby represents, warrants and covenants to the Company as follows:

 

1.
The Subscriber has reviewed the website of the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”),
and conducted such other investigation as Subscriber deems necessary or prudent, prior to making these representations and warranties.
The Subscriber acknowledges that U.S. federal regulations and executive orders administered by OFAC prohibit, among other things,
engaging in transactions with, and the provision of services to, certain foreign countries, territories, entities and individuals.

 

2.
All evidence of identity provided in connection with the Subscriber’s acquisition of Shares is genuine and all related
information furnished is accurate.

 

3.
The Subscriber understands and agrees that the investment of funds is prohibited by or restricted with respect to any persons or
entities: (i) acting, directly or indirectly, on behalf of terrorists or terrorist organizations, including those persons, entities
and organizations that are included on any of the OFAC lists; (ii) residing or having a place of business in a country or territory
named on such lists or which is designated as a Non-Cooperative Jurisdiction by the Financial Action Task Force on Money Laundering
(“FATF”), or whose subscription funds are transferred from or through such a jurisdiction; (iii) (A) that are a “Foreign
Shell Bank” within the meaning of the USA PATRIOT Act or (B) that are a foreign bank other than a “Regulated Affiliate”
that is barred, pursuant to its banking license, from conducting banking activities with the citizens of, or with the local currency
of, the country that issued the license or (C) whose subscription funds are transferred from or through the entities listed in
foregoing clauses (A) and (B); or (iv) residing in, or organized under the laws of, a jurisdiction designated by the Secretary
of the Treasury under Sections 311 or 312 of the USA PATRIOT Act as warranting special measures due to money laundering concerns.
Such persons or entities in (i) through (iv) are collectively referred to as “Restricted Persons.” Neither the Subscriber,
nor any person or entity controlling, controlled by, or under common control with, the Subscriber, any investors in the Subscriber
(if the Subscriber is a pooled investment vehicle) or any person or entity for whom the Subscriber is acting as agent, representative,
intermediary, nominee or similar capacity (each such investor in the Subscriber and each such person for whom the Subscriber acts
as agent, representative, intermediary, nominee or in a similar capacity, an “Underlying Beneficial Owner”) in connection
with the acquisition of Shares is a Restricted Person.

 

4.
No funds tendered for the acquisition of Shares are directly or indirectly derived from activities that may contravene U.S. federal,
state or non-U.S. laws and regulations, including anti-money laundering laws, rules and regulations, and no capital contribution
in relation to Shares acquired by the Subscriber or, if applicable, any Underlying Beneficial Owner will be derived from any illegal
or illegitimate activities.

 

5.
To the extent the Subscriber has any Underlying Beneficial Owners, the Subscriber: (i) has carried out thorough due diligence as
to, and established the identities of, the Underlying Beneficial Owners and any related persons to the extent required by applicable
law and regulations (“Related Persons”); (ii) holds the evidence of such identities and will maintain all such evidence
for at least five years from the date of the completion of the liquidation of the Company; and (iii) will make such information
available to the Company upon the Company’s request.

 

6.
The Subscriber acknowledges and understands that the Company, in its sole discretion, may decline to accept any subscription for
Shares by a person who is a “Covered Person” within the meaning of the Guidance on Enhanced Scrutiny for Transactions
that May Involve the Proceeds of Foreign Official Corruption, issued by the U.S. Department of the Treasury, et al., January,
2001. Accordingly, the Subscriber agrees to inform the Company, prior to its acquisition of Shares, if the Subscriber or any person
controlling, controlled by, or under common control with, the Subscriber, or for whom the Subscriber is acting as agent or nominee
in connection with the acquisition of Shares, is a Covered Person.

 

    

Annex A

     

    

 

7.
The Subscriber agrees to provide any information (including confidential information about the Subscriber and, if applicable, any
Underlying Beneficial Owner or Related Person) to any person deemed necessary by the Company, in its sole and absolute discretion,
to comply with its anti-money laundering responsibilities and policies and any laws, rules and regulations applicable to an investment
held or proposed to be held by the Company.

 

8.
The Subscriber authorizes and permits the Company, using its own reasonable business judgment, to report information about the
Subscriber, or any person controlling, controlled by, or under common control with the Subscriber, to appropriate authorities,
and the Subscriber agrees not to hold them liable for any loss or injury that may occur as the result of providing such information.

 

9.
The Subscriber agrees that, in the event of a material change with respect to the information provided in connection with the purchase
of the Shares, the Subscriber will provide the Company promptly with updated information affected by the material change.

 

10.
The Subscriber agrees that, notwithstanding any statement to the contrary in any agreement into which it has entered that relates
to the Company, or any statement to the contrary in any private placement memorandum of the Company, if the Company determines
that the Subscriber has appeared on a list of known or suspected terrorists or terrorist organizations compiled by any U.S. or
non-U.S. governmental agency, or that any information provided by the Subscriber in connection with the acquisition of Shares is
no longer true or accurate, the Company, without limiting any other rights available under any agreement between the Company and
the Subscriber, shall be authorized to take any action it deems necessary or appropriate as a result thereof. The Company may be
obligated to “freeze the account” of the Subscriber, either by prohibiting additional capital contributions, restricting
any distributions and/or declining any requests to transfer the Subscriber’s Shares. In addition, in any such event, the
Subscriber may forfeit its Shares, may be forced to withdraw from the Company or may otherwise be subject to the remedies required
by law, and the Subscriber shall have no claim against the Company nor its officers, directors, employees, agents, control persons,
affiliates and professional advisors and such parties shall be held harmless and indemnified by the Subscriber in accordance with
the indemnification section of this Agreement for any form of damages as a result of any of the actions described in this paragraph.
The Company may also be required to report such action and to disclose the Subscriber’s identity or provide other information
with respect to the Subscriber to OFAC or other governmental entities.

 

11.
The Subscriber acknowledges and agrees that any distributions paid to it by the Company will be paid to, and any contributions
made by it to the Company will be made from, an account in the Subscriber’s name unless the Company, in its sole discretion,
agrees otherwise.

 

12.
The Subscriber understands, acknowledges and agrees that the acceptance of this Agreement, together with the appropriate remittance,
will not breach any applicable money laundering or related rules or regulations (including, without limitation, any statutes, rules
or regulations in effect under the laws of the U.S.A. pertaining to prohibitions on money laundering or to transacting business
or dealing in property that may be blocked or may belong to Specially Designated Nationals, as such term is used by OFAC).

 

    

Annex A

     

    

 

Annex
B

 

ANTI-MONEY LAUNDERING DOCUMENTATION

 

The Subscriber has delivered, or is concurrently delivering
herewith, the true, correct and applicable documentation noted below that is applicable to the Subscriber:

 

	 	(i)	Individuals (each of the following):

 

	 	(A)	Certified (notarized) copy of passport or other valid government identification document displaying the true name, signature, date of birth and photograph of the Subscriber (with certified English translation, if necessary); and

 

	 	(B)	Copy of a recent bank statement or utility bill showing the Subscriber’s current home address.

 

	 	(ii)	Corporate (each of the following):

 

	 	(A)	Certificate of Incorporation (or equivalent) with evidence of any name changes;

 

	 	(B)	Certificate of Good Standing;

 

	 	(C)	Director resolution authorizing the investment, if applicable;

 

	 	(D)	Current list or register of Directors;

 

	 	(E)	Specimen signatures of persons authorized to bind the Subscriber with regard to its investments with name and office held printed underneath or Powers of Attorney or Letters of Authority (if applicable);

 

	 	(F)	Information on at least two Directors (see (i) above for individuals and (ii) for all other entities);

 

	 	(G)	Evidence of identity for authorized signatories and all beneficial owners of the Subscriber >25% OR comfort letter (see (i) above for individuals and (ii) for all other entities); and

 

	 	(H)	Signed copy of the Subscriber’s latest available financial statements.

 

	 	(iii)	Limited Partnership (or Limited Liability Company) (each of the following):

 

	 	(A)	Certificate of Limited Partnership (or equivalent) (evidencing registered address) with evidence of any name changes;

 

	 	(B)	Certified copy of the limited partnership agreement (or equivalent);

 

	 	(C)	Limited partnership mandate (or equivalent) for making the investment (if any);

 

	 	(D)	Specimen signatures of persons authorized to bind the Subscriber with regard to its investments with name and office held printed underneath or Powers of Attorney or Letters of Authority (if applicable);

 

	 	(E)	Information on the individual(s) that control the general partner (or managing member, if applicable) (see (i) above for individuals and (ii) for all other entities);

 

	 	(F)	Evidence of identity for authorized signatories and all beneficial owners of the Subscriber >25% OR comfort letter (see (i) above for individuals and (ii) for all other entities); and

 

    

Annex B

     

    

 

	 	(G)	Signed copy of the Subscriber’s latest available financial statements.

 

	 	(iv)	Trust (each of the following):

 

	 	(A)	Certified copy of Trust Deed/Agreement (including trust name, nature of trust, trustees, authorizations, date of trust and principal address);

 

	 	(B)	Information about the trustee(s) and settlor(s) (or beneficial owner(s), if different than the settlor(s)) (see (i) above for individuals and (ii) for all other entities); and

 

	 	(C)	Signed copy of the Subscriber’s latest available financial statements.

 

	 	(v)	Private Pension Plans or Not For Profit (including Foundations and Charities) (each of the following):

 

	 	(A)	Certified copy of the entity’s formation documents;

 

	 	(B)	An explanation of the nature of the entity’s purpose and operations;

 

	 	(C)	Evidence of identity for authorized signatories, anyone who gives instructions on behalf of the entity and all beneficial owners of the Subscriber >25% OR comfort letter (see (i) above for individuals and (ii) for all other entities); and

 

	 	(D)	Confirmation of not for profit designation from the applicable government authority.

 

	 	(vi)	Financial Institutions (additional requirements):

 

In addition to the applicable requirements
above, banks, brokers and other financial institutions must deliver a representation letter in the form determined by the Company
indicating that they have established and implemented anti-money laundering procedures reasonably designed to achieve compliance
with the USA PATRIOT Act.

 

The Subscriber acknowledges that the Company
and its affiliates may require further identification of the Subscriber or source of funds before the subscription can be processed,
and the Company and its officers, directors, employees, agents, control persons, affiliates and professional advisors shall be
held harmless and indemnified in accordance with the indemnification provisions of the Agreement as a result of a failure to process
the subscription if such information as has been required by the Company has not been provided by the Subscriber. The Subscriber
agrees to provide any information deemed necessary by the Company in its sole and absolute discretion to comply with its anti-money
laundering policies and obligations.

 

 

Annex BExhibit

EXHIBIT 10.19

JUNIPER NETWORKS, INC. 
2008 EMPLOYEE STOCK PURCHASE PLAN 
As amended and restated as of December 1, 2017

1. Purpose. The purpose of the Plan is to provide employees of the Company and its Designated Subsidiaries with an opportunity to purchase Common Stock through accumulated payroll deductions. The Company’s intention is to have the Plan qualify as an “employee stock purchase plan” under Section 423 of the Code, although the Company makes no undertaking nor representation to maintain such qualification. The provisions of the Section 423(b) Plan (as defined below), accordingly, will be construed so as to extend and limit Plan participation in a uniform and nondiscriminatory basis consistent with the requirements of Section 423 of the Code. In addition, this Plan document authorizes the grant of rights to purchase stock that do not qualify under Section 423(b) of the Code (“Non-Section 423(b) Plan”) pursuant to rules, procedures or sub-plans adopted by the Board or Committee designed to achieve tax, securities law or other Company compliance objectives in particular locations outside the United States. Such references to the Plan include the 423(b) and the Non-Section 423(b) Plan components. 
If grants are intended to be made under the Non-Section 423(b) Plan, they will be designated as such at the time of grant. 
On December 1, 2017 (the “Amendment Date”), the Administrator (as defined below) amended and restated the Plan (as defined below) as set forth herein. All options granted prior to the Amendment Date shall remain subject to the terms of the Plan and the Offering Period that were in effect prior to the Amendment Date.
2. Definitions. 
(a) “Administrator” means the Board or any Committee designated by the Board to administer the Plan pursuant to Section 14. 
(b) “Applicable Laws” means the requirements relating to the administration of equity-based awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under the Plan. 
(c) “Board” means the Board of Directors of the Company. 
(d) “Change in Control” means the occurrence of any of the following events: 
(i) 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 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding voting securities; or 
(ii) The consummation of the sale or disposition by the Company of all or substantially all of the Company’s assets; or 
(iii) The consummation of a merger or consolidation of the Company with any other corporation, 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 parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation; or 
(iv)  A change in the composition of the Board occurring within a two (2) year period, as a result of which less than a majority of the Directors are Incumbent Directors. “Incumbent Directors” means Directors who either (A) are Directors as of the effective date of the Plan, or (B) are elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the Directors at the time of such election or nomination (but will 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).
(e) “Code” means the Internal Revenue Code of 1986, as amended. Any reference to a section of the Code herein will be a reference to any successor or amended section of the Code. 
(f) “Committee” means a committee of the Board appointed in accordance with Section 14 hereof. 
(g) “Common Stock” means the common stock of the Company. 
(h) “Company” means Juniper Networks, Inc., a Delaware corporation. 

(i) “Compensation” means an Employee’s regular and recurring straight time gross earnings, exclusive of payments for overtime, shift premium, incentive compensation, incentive payments, bonuses, sales commission, and other similar compensation. 
(j) “Designated Subsidiary” means any Parent or Subsidiary that has been designated by the Administrator from time to time in its sole discretion as eligible to participate in the Plan. 
(k) “Director” means a member of the Board. 
(l) “Eligible Employee” means any Employee who is customarily employed for at least twenty (20) hours per week and more than five (5) months in any calendar year by the Employer, provided, however that under the Non-Section 423(b) Plan, the Board or Committee appointed by the Board may determine that Employees are eligible to participate in the Plan even if they are employed for less than twenty (20) hours per week or less than five (5) months in any calendar year by the Employer, if such Employee has a right to participate in the Plan under applicable law. For purposes of the Plan, the employment relationship will be treated as continuing intact while the individual is on sick leave or other leave of absence that the Employer approves. Where the period of leave exceeds three (3) months and the individual’s right to reemployment is not guaranteed either by statute or by contract, the employment relationship will be deemed to have terminated on the first day following three (3) months of such leave. 
(m) “Employee” means any individual who is a common law employee of an Employer.
(n) “Employer” means any one or all of the Company and its Designated Subsidiaries. 
(o) “Exchange Act” means the Securities Exchange Act of 1934, as amended, including the rules and regulations promulgated thereunder. 
(p) “Exercise Date” means the last day of each Purchase Period (as defined below). 
(q)  “Fair Market Value” means, as of any date and unless the Administrator determines otherwise, the value of Common Stock determined as follows:
(i) If the Common Stock is listed on any established stock exchange or a national market system, its Fair Market Value will be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system on the date of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 
(ii) If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, its Fair Market Value will be the mean of the closing bid and asked prices for the Common Stock on the date of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; or 
(iii) In the absence of an established market for the Common Stock, its Fair Market Value thereof will be determined in good faith by the Administrator. 
(r) “Fiscal Year” means the fiscal year of the Company. 
(s) “New Exercise Date” means a new Exercise Date implemented by shortening any Offering Period then in progress. 
 (t) “Offering Date” means the first Trading Day of each Offering Period. 
(u) “Offering Period” means a period of approximately twenty-four (24) months during which an option granted pursuant to the Plan may be exercised. A new Offering Period shall (i) commence on the first Trading Day on or after February 1 and August 1 of each year and (ii) terminate on the last Trading Day in the final Purchase Period ending on or before January 31 and July 31, respectively. The duration and timing of Offering Periods may be changed pursuant to Sections 4, 20 and 21. 
(v) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in Section 424(e) of the Code. 
(w) “Plan” means this Juniper Networks, Inc. 2008 Employee Stock Purchase Plan, as amended from time to time, which includes a Section 423(b) Plan and a Non-Section 423(b) Plan. 
(x) “Purchase Price” means an amount equal to eighty-five percent (85%) of the Fair Market Value of a share of Common Stock on the Offering Date or on the Exercise Date, whichever is lower; provided however, that the Purchase Price may be determined for future Offering Periods pursuant to Section 20. 
(y) “Section 423(b) Plan” means an employee stock purchase plan which is designed to meet the requirements set forth in Section 423(b) of the Code, as amended. The provisions of the Section 423(b) Plan shall be construed, administered and enforced in accordance with Section 423(b) of the Code. 
(z) “Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as defined in Section 424(f) of the Code. 
(aa) “Trading Day” means a day on which the stock exchange or national market system on which shares of Common Stock are listed is open for trading. 

3. Eligibility. 
(a) Offering Periods. Any individual who is an Eligible Employee on a given Offering Date will be eligible to participate in such Offering Period, subject to the requirements of Section 5. 
(b) Limitations. Any provisions of the Plan to the contrary notwithstanding, no Eligible Employee will be granted an option under the Plan (i) to the extent that, immediately after the grant, such Eligible Employee (or any other person whose stock would be attributed to such Eligible Employee pursuant to Section 424(d) of the Code) would own capital stock of the Company or any Parent or Subsidiary of the Company and/or hold outstanding options to purchase such stock possessing five percent (5%) or more of the total combined voting power or value of all classes of the capital stock of the Company or of any Parent or Subsidiary of the Company, or (ii) to the extent that his or her rights to purchase stock under all employee stock purchase plans (as defined in Section 423 of the Code) of the Company or any Parent or Subsidiary of the Company accrues at a rate which exceeds twenty-five thousand dollars ($25,000) worth of stock (determined at the Fair Market Value of the stock at the time such option is granted) for each calendar year in which such option is outstanding at any time. 
4. Offering Periods and Purchase Periods. The Plan will be implemented by consecutive Offering Periods with a new Offering Period commencing on the first Trading Day on or after February 1 and August 1 each year, or on such other date as the Administrator will determine. The Administrator will have the power to change the duration of Offering Periods (including the commencement dates thereof) with respect to future offerings without stockholder approval if such change is announced to Eligible Employees at least five (5) days prior to the scheduled beginning of the first Offering Period to be affected thereafter. For purposes of the Plan, the Administrator may designate separate Offering Periods under the Plan in which Eligible Employees will participate and the provisions of the Plan will separately apply to each Offering Period.  For purposes of clarity, the terms of each Offering Period need not be identical provided that if the Offering Period is being implemented pursuant to the provisions of the Plan that are intended to qualify under Section 423(b) of the Code, the terms of the Plan and the Offering Period together must satisfy Section 423 of the Code. 
Each Offering Period shall consist of four (4) consecutive periods (each, a “Purchase Period”) of approximately six (6) months duration, or such other number or duration as the Administrator shall determine. A Purchase Period commencing (i) on the first Trading Day on or after February 1 shall terminate on the last Trading Day in the period ending on July 31 and (ii) on the first Trading Day on or after August 1 shall terminate on the last Trading Day in the period ending on January 31. Notwithstanding the foregoing, the Administrator may establish a different duration for one or more future Purchase Periods or different commencing or ending dates for such Purchase Periods. 
5. Participation. An Eligible Employee may participate in the Plan pursuant to Section 3(a) by (i) submitting to the Company’s payroll office (or its designee), on or before a date prescribed by the Administrator prior to an applicable Offering Date, a properly completed subscription agreement authorizing payroll deductions in the form as specified by the Company for such purpose, or (ii) following an electronic or other enrollment procedure prescribed by the Company. 
6. Payroll Deductions. 
(a) At the time a participant enrolls in the Plan pursuant to Section 5, he or she will elect to have payroll deductions made on each pay day during the Offering Period for which the participant has enrolled in. Subject to Applicable Law, the payroll deduction amount for a participant shall not exceed ten percent (10%) of the Compensation which he or she receives on each pay day during the Offering Period. The Administrator, in its discretion, may decide that an Eligible Employee may submit contributions to the Non-Section 423(b) Plan by means other than payroll deductions. A participant’s subscription agreement will remain in effect for successive Offering Periods unless terminated as provided in Sections 10 and 11 hereof. An Eligible Employee that enrolls in the Plan after the Offering Date for an Offering Period shall not (i) be eligible to participate in such Offering Period but may participate in the subsequent Offering Period and (ii) have deductions withheld from such Eligible Employee’s payroll for purposes of participation in the Plan until after the commencement of such subsequent Offering Period.
(b) Payroll deductions for a participant will commence on the first pay day following the Offering Date and will end on the last pay day prior to the termination of such Offering Period to which such authorization is applicable, unless sooner terminated as provided in Sections 10 and 11 hereof. 
(c) All payroll deductions made for a participant will be credited to his or her account under the Plan and will be withheld in whole percentages only. A participant may not make any additional payments into such account. No Eligible Employee shall be permitted to participate simultaneously in more than one Offering Period.
(d) Subject to Applicable Law, a participant may discontinue his or her participation in the Plan as provided in Section 10, or may decrease the rate of his or her payroll deductions during the Offering Period by (i) properly completing and submitting to the Company’s payroll office (or its designee), on or before a date prescribed by the Company prior to an applicable Exercise Date, a new subscription agreement authorizing the change in payroll deduction rate in the form provided by the Company for such purpose, or (ii) following an electronic or other procedure prescribed by the Company. If a participant has not followed such procedures to change the rate of payroll deductions, the rate of his or her payroll deductions will continue at the originally elected 

rate throughout the Offering Period and future Offering Periods (unless terminated as provided in Section 6(d)). The Company may, in its sole discretion, limit the nature and/or number of payroll deduction rate changes that may be made by participants during any Offering Period. Any change in payroll deduction rate made pursuant to this Section 6(d) will be effective as of the first full payroll period following five (5) business days after the date on which the change is made by the participant. If a participant decreases his or her payroll deductions to zero percent (0%), any subsequent election to increase his or her rate of payroll deductions will not take effect until the next Purchase Period (or the next Offering Period, if such increase is being made in the last Purchase Period of the Offering Period). If a participant elects to increase his or her payroll deductions during a Purchase Period, such election will not take effect until the next Purchase Period (or the next Offering Period, if such increase is being made in the last Purchase Period of the Offering Period).
(e) Notwithstanding the foregoing, to the extent necessary to comply with Section 423(b)(8) of the Code and Section 3(b) and Applicable Law, a participant’s payroll deductions may be decreased to zero percent (0%) at any time during an Offering Period. Subject to Section 423(b)(8) of the Code and Section 3(b) hereof, payroll deductions will recommence at the rate originally elected by the participant  prior to such reduction, unless terminated by the participant as provided in Section 10. 
(f) At the time the option is exercised, in whole or in part, or at the time some or all of the Common Stock issued under the Plan is disposed of, the participant must make adequate provision for the Company’s or Employer’s federal, state, or any other tax withholding liability payable to any authority, national insurance, social security or other tax withholding obligations, if any, which arise upon the exercise of the option or the disposition of the Common Stock. At any time, the Company or the Employer may, but will not be obligated to, withhold from the participant’s compensation the amount necessary for the Company or the Employer to meet applicable withholding obligations, including any withholding required to make available to the Company or the Employer any tax deductions or benefits attributable to the sale or early disposition of Common Stock by the participant. 
7. Grant of Option. On the Offering Date of each Offering Period, each Eligible Employee participating in such Offering Period will be granted an option to purchase on each Exercise Date during such Offering Period (at the applicable Purchase Price) up to a number of shares of Common Stock determined by dividing such Eligible Employee’s payroll deductions accumulated prior to such Exercise Date and retained in the Eligible Employee’s account as of the Exercise Date by the applicable Purchase Price; provided that in no event will an Eligible Employee be permitted to purchase during any twelve (12) month period more than six thousand (6,000) shares of the Common Stock (subject to any adjustment pursuant to Section 19), and provided further that such purchase will be subject to the limitations set forth in Sections 3(b) and 13. The Eligible Employee may accept the grant of such option with respect to any Offering Period under the Plan, by electing to participate in the Plan in accordance with the requirements of Section 5. The Administrator may, for future Offering Periods, increase or decrease, in its absolute discretion, the maximum number of shares of Common Stock that each Eligible Employee may purchase during each Offering Period. Exercise of the option will occur as provided in Section 8, unless the participant has withdrawn pursuant to Sections 10 or 11. The option will expire on the last day of the Offering Period. 
8. Exercise of Option. 
(a) Unless a participant withdraws from the Plan as provided in Sections 10, 11 or otherwise, his or her option for the purchase of shares of Common Stock will be exercised automatically on the Exercise Date, and the maximum number of full shares of Common Stock subject to his or her option will be purchased for such participant at the applicable Purchase Price with the accumulated payroll deductions remaining in his or her account that have not been previously applied toward the purchase of Common Stock under this Plan. No fractional shares of Common Stock will be purchased; any payroll deductions accumulated in a participant’s account which are not sufficient to purchase a full share of Common Stock will be retained in the participant’s account for the subsequent Offering Period or Purchase Period, as applicable, subject to earlier withdrawal by the participant as provided in Sections 10 and 11. Any other funds left over in a participant’s account after the Exercise Date will be returned to the participant. During a participant’s lifetime, a participant’s option to purchase shares hereunder is exercisable only by him or her. No shares of Common Stock shall be purchased on an Exercise Date on behalf of a participant whose participation in an Offering Period or the Plan has terminated before such Exercise Date.
(b) If the Administrator determines that, on a given Exercise Date, the number of shares of Common Stock with respect to which options are to be exercised may exceed the number of shares of Common Stock available for sale under the Plan on such Exercise Date, the Company will make a pro rata allocation of the shares of Common Stock available for purchase on such Exercise Date in as uniform a manner as will be practicable and as it will determine in its sole discretion to be equitable among all participants exercising options to purchase Common Stock on such Exercise Date, and the Administrator may continue all Offering Periods then in effect or terminate all Offering Periods then in effect pursuant to Section 20. The Company may make a pro rata allocation of the shares available on the Offering Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional shares for issuance under the Plan by the Company’s stockholders subsequent to such Offering Date. 
9. Delivery. As soon as reasonably practicable after each Exercise Date on which a purchase of shares of Common Stock occurs, the Company will arrange the delivery to each participant the shares purchased upon exercise of his or her option in a form 

determined by the Company (in its sole discretion), subject to any rules established by the Administrator. No participant will have any voting, dividend, or other stockholder rights with respect to shares of Common Stock subject to any option granted under the Plan until such shares have been purchased and delivered to the participant as provided in this Section 9. 
10. Withdrawal. 
(a) A participant may withdraw all but not less than all the payroll deductions credited to his or her account and not yet used to exercise his or her option under the Plan at any time by (i) submitting to the Company’s payroll office (or its designee) a written notice of withdrawal in the form prescribed by the Company for such purpose, or (ii) following an electronic or other withdrawal procedure prescribed by the Company. All of the participant’s payroll deductions credited to his or her account will be paid to such participant promptly after receipt of notice of withdrawal and such participant’s option for the Offering Period will be automatically terminated, and no further payroll deductions for the purchase of shares will be made for such Offering Period. If a participant withdraws from an Offering Period, payroll deductions will not resume at the beginning of the succeeding Offering Period, unless the participant re-enrolls in the Plan in accordance with the provisions of Section 5. 
(b) A participant’s withdrawal from an Offering Period will not have any effect upon his or her eligibility to participate in any similar plan which may hereafter be adopted by the Company or in succeeding Offering Periods which commence after the termination of the Offering Period from which the participant withdraws. 
(c) Automatic Rollover. If the Fair Market Value of a share of Common Stock on an Exercise Date (other than the final Exercise Date of an Offering Period) is less than the Fair Market Value of a share of Common Stock on the Offering Date of an Offering Period (each such Offering Period, a “Terminating Offering Period”), then (i) each Terminating Offering Period shall terminate immediately at the end of such Exercise Date, but, for the avoidance of doubt, after giving effect to the exercise and purchase of shares of Common Stock for the Purchase Period, and (ii) each participant in such Terminating Offering Period shall be automatically enrolled in the Offering Period commencing on the first Trading Day immediately following such Exercise Date.
11. Termination of Eligibility. Upon a participant’s ceasing to be an Eligible Employee, for any reason, he or she will be deemed to have elected to withdraw immediately from the Plan (and the participant’s participation in the Plan shall terminate immediately) and the payroll deductions credited to such participant’s account during the Offering Period but not yet used to purchase shares of Common Stock under the Plan will be returned to such participant or, in the case of his or her death, to the person or persons entitled thereto under Section 15, and such participant’s option will be automatically terminated. 
12. Interest. No interest will accrue on the payroll deductions of a participant in the Plan, unless required by Applicable Laws. 
13. Stock. 
(a) Subject to adjustment upon changes in capitalization of the Company as provided in Section 19 hereof, the maximum number of shares of Common Stock which will be made available for sale under the Plan will be thirty-five million (35,000,000) shares. 
(b) Until the shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), a participant will only have the rights of an unsecured creditor with respect to such shares, and no right to vote or receive dividends or any other rights as a stockholder will exist with respect to such shares. 
(c) Shares of Common Stock to be delivered to a participant under the Plan will be registered in the name of the participant or, at the sole discretion of the Company, in the name of the participant and his or her spouse. 
14. Administration. 
The Plan will be administered by the Board or a Committee appointed by the Board, which Committee will be constituted to comply with Applicable Laws. The Administrator will have full and exclusive discretionary authority to construe, interpret and apply the terms of the Plan, to determine eligibility and to adjudicate all disputed claims filed under the Plan. Every finding, decision and determination made by the Administrator will, to the full extent permitted by law, be final and binding upon all parties. Notwithstanding any provision to the contrary in this Plan, and, with respect to the Section 423(b) Plan, to the extent permissible under Code Section 423 and proposed or final Treasury Regulations promulgated thereunder (and other Internal Revenue Service guidance), the Administrator may adopt rules or procedures relating to the operation and administration of the Plan to accommodate the specific requirements of local laws and procedures for jurisdictions outside of the United States. Without limiting the generality of the foregoing, the Administrator is specifically authorized to adopt rules and procedures regarding handling payroll deductions, making of contributions to the Plan, defining eligible Compensation, establishment of bank or trust accounts to hold payroll deductions, conversion of local currency, obligations to pay payroll tax, determination of beneficiary designation requirements, withholding procedures and handling of stock certificates which vary with local requirements. 
The Administrator may also adopt rules, procedures or sub-plans applicable to particular Subsidiaries or locations, which sub-plans may be designed to be outside the scope of Code Section 423. The rules of such sub-plans may take precedence over other provisions of this Plan, but unless otherwise superseded by the terms of such sub-plan, the provisions of this Plan shall govern 

the operation of such sub-plan. To the extent inconsistent with the requirements of Code Section 423, such sub-plan shall be considered part of the Non-Section 423(b) Plan, and rights granted thereunder shall not be considered to comply with Code Section 423. 
15. Designation of Beneficiary. 
(a) At the sole discretion of the Company, a participant may file a designation of a beneficiary who is to receive any shares of Common Stock and cash, if any, from the participant’s account under the Plan in the event of such participant’s death subsequent to an Exercise Date on which the option is exercised but prior to delivery to such participant of such shares and cash. In addition, a participant may file a designation of a beneficiary who is to receive any cash from the participant’s account under the Plan in the event of such participant’s death prior to exercise of the option. If a participant is married and the designated beneficiary is not the spouse, spousal consent will be required for such designation to be effective. 
(b) Such designation of beneficiary may be changed by the participant at any time by notice in a form determined by the Company. In the event of the death of a participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such participant’s death, the Company will deliver such shares and/or cash to the executor or administrator of the estate of the participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such shares and/or cash to the spouse or to any one or more dependents or relatives of the participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 
(c) All beneficiary designations will be in such form and manner as the Company may designate from time to time. 
16. Transferability. Neither payroll deductions credited to a participant’s account nor any rights with regard to the exercise of an option or to receive shares of Common Stock under the Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution or as provided in Section 15 hereof) by the participant. Any such attempt at assignment, transfer, pledge or other disposition will be without effect, except that the Company may treat such act as an election to withdraw funds from an Offering Period in accordance with Section 10 hereof. 
17. Use of Funds. The Company may use all payroll deductions received or held by it under the Plan for any corporate purpose, and the Company will not be obligated to segregate such payroll deductions. Until shares of Common Stock are issued, participants will only have the rights of an unsecured creditor with respect to such shares. 
18. Reports. Individual accounts will be maintained for each participant in the Plan. Statements of account will be given to participating Eligible Employees at least annually, which statements will set forth the amounts of payroll deductions, the Purchase Price, the number of shares of Common Stock purchased and the remaining cash balance, if any. 
19. Adjustments, Dissolution, Liquidation, Merger or Change in Control. 
(a) Adjustments. In the event that any dividend or other distribution (whether in the form of cash, Common Stock, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Common Stock or other securities of the Company, or other change in the corporate structure of the Company affecting the Common Stock occurs, the Administrator, in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, will, in such manner as it may deem equitable, adjust the number and class of Common Stock which may be delivered under the Plan, the Purchase Price per share and the number of shares of Common Stock covered by each option under the Plan which has not yet been exercised, and the numerical limits of Sections 7 and 13. 
(b) Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, any Offering Period then in progress will be shortened by setting a New Exercise Date, and will terminate immediately prior to the consummation of such proposed dissolution or liquidation, unless provided otherwise by the Administrator. The New Exercise Date will be before the date of the Company’s proposed dissolution or liquidation. The Administrator will notify each participant in writing, at least ten (10) business days prior to the New Exercise Date, that the Exercise Date for the participant’s option has been changed to the New Exercise Date and that the participant’s option will be exercised automatically on the New Exercise Date, unless prior to such date the participant has withdrawn from the Offering Period. 
(c) Merger or Change in Control. In the event of a merger or Change in Control, each outstanding option will be assumed or an equivalent option substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the option, the Offering Period with respect to which such option relates will be shortened by setting a New Exercise Date and will end on the New Exercise Date. The New Exercise Date will occur before the date of the Company’s proposed merger or Change in Control. The Administrator will notify each participant in writing, at least ten (10) business days prior to the New Exercise Date, that the Exercise Date for the participant’s option has been changed to the New Exercise Date and that the participant’s option will be exercised automatically on the New Exercise Date, unless prior to such date the participant has withdrawn from the Offering Period. 

20. Amendment or Termination. 
(a) The Administrator, in its sole discretion, may amend, suspend, or terminate the Plan, or any part thereof, at any time and for any reason; provided, however, that adding additional shares available for sale under the Plan (other than pursuant to Section 19(a)) shall require stockholder approval. If the Plan is terminated, the Administrator, in its discretion, may elect to terminate all outstanding Offering Periods either immediately or upon completion of the purchase of shares of Common Stock on the next Exercise Date (which may be sooner than originally scheduled, if determined by the Administrator in its discretion), or may elect to permit Offering Periods to expire in accordance with their terms (and subject to any adjustment pursuant to Section 19). If the Offering Periods are terminated prior to expiration, all payroll deduction amounts then credited to participants’ accounts which have not been used to purchase shares of Common Stock will be returned to the participants (without interest thereon, except as otherwise required under Applicable Laws) as soon as administratively practicable. 
(b) Without stockholder consent and without limiting Section 20(a), to the extent permitted by applicable provisions of law, the Administrator will be entitled to amend the Offering Periods, determine the terms of new Offering Periods (including, but not limited to (i) the length of such Offering Periods, provided that no such Offering Period shall be more than 27 months, (ii) whether such Offering Periods will include one or more embedded Offering Periods and/or (iii) whether such Offering Periods will have an automatic restart or reset provision), provide for overlapping Offering Periods, limit the frequency and/or number of changes in the amount withheld during an Offering Period, establish the exchange ratio applicable to amounts withheld in a currency other than U.S. dollars, permit payroll withholding in excess of the amount designated by a participant in order to adjust for delays or mistakes in the Company’s processing of properly completed withholding elections, establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Common Stock for each participant properly correspond with amounts withheld from the participant’s Compensation, and establish such other limitations or procedures as the Administrator determines in its sole discretion advisable which are consistent with the Plan. 
(c) In the event the Administrator determines that the ongoing operation of the Plan may result in unfavorable financial accounting consequences, the Administrator may, in its discretion and, to the extent necessary or desirable, modify, amend or terminate the Plan to reduce or eliminate such accounting consequence including, but not limited to: 
(i) amending the Plan to conform with the safe harbor definition under Statement of Financial Accounting Standards 123(R), including with respect to an Offering Period underway at the time; 
(ii) altering the Purchase Price for any Offering Period including an Offering Period underway at the time of the change in Purchase Price; 
(iii) shortening any Offering Period by setting a New Exercise Date, including an Offering Period underway at the time of the Administrator action; 
(iv) reducing the maximum percentage of Compensation a participant may elect to set aside as payroll deductions; and 
(v) reducing the maximum number of shares a participant may purchase during any Offering Period. 
Such modifications or amendments will not require stockholder approval or the consent of any Plan participants. 
21. Notices. All notices or other communications by a participant to the Company under or in connection with the Plan will be deemed to have been duly given when received in the form and manner specified by the Company at the location, or by the person, designated by the Company for the receipt thereof. 
22. Conditions Upon Issuance of Shares. Shares of Common Stock will not be issued with respect to an option unless the exercise of such option and the issuance and delivery of such shares pursuant thereto will comply with all applicable provisions of law, domestic or foreign, including, without limitation, the Securities Act of 1933, as amended, the Exchange Act, the rules and regulations promulgated thereunder, and the requirements of any stock exchange upon which the shares may then be listed, and will be further subject to the approval of counsel for the Company with respect to such compliance. 
As a condition to the exercise of an option, the Company may require the person exercising such option to represent and warrant at the time of any such exercise that the shares are being purchased only for investment and without any present intention to sell or distribute such shares if, in the opinion of counsel for the Company, such a representation is required by any of the aforementioned applicable provisions of law. 
23. Term of Plan. The Plan will continue in effect until February 25, 2028, unless sooner terminated under Section 20. 
24. Reimbursement of Taxes. The Administrator shall have the discretion to require reimbursement from any Plan participant in full for any liability that the Company or the Employer incurs towards any tax paid or payable in respect to participant’s participation in the Plan, the grant of any option pursuant to the Plan, or the exercise of participant’s option, provided that such reimbursement is provided for in the subscription agreement. The Company may require security for such reimbursement of taxes as a precondition to participant participating in the Plan, the grant of any option, or the exercise of this option on behalf of Participant. 

The Administrator shall have the authority to approve additional documents or forms which may be requested by the Company for such security, collection or otherwise for reimbursement of such taxes to the Company.

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