Document:

Exhibit 10.4

 

FINAL FORM

 

FORM OF NON-COMPETITION AND NON-SOLICITATION
AGREEMENT

 

THIS NON-COMPETITION
AND NON-SOLICITATION AGREEMENT (this “Agreement”) is being executed and delivered as of [●], by
the undersigned (“Seller”) in favor of and for the benefit of MTech Acquisition Holdings Inc.,
a Delaware corporation which will be known after the consummation of the transactions contemplated by the Merger Agreement (as
defined below) (the “Closing”) as “[__________]” (together with its successors, “Pubco”),
MJ Freeway LLC, a Colorado limited liability company (together with its successors, including the Company Surviving Subsidiary
(as defined in the Merger Agreement, the “Company”), and each of Pubco’s and the Company’s
present and future Affiliates, successors and direct and indirect Subsidiaries (including Purchaser) (collectively with Pubco and
the Company, the “Covered Parties”). Any capitalized term used, but not defined in this Agreement will
have the meaning ascribed to such term in the Merger Agreement.

 

WHEREAS, Pubco and
the Company are parties to that certain that Agreement and Plan of Merger, dated as of October 10, 2018 (as amended from time to
time in accordance with the terms thereof, the “Merger Agreement”), by and among (i) MTech Acquisition
Corp., a Delaware corporation and, prior to giving effect to the Closing, the parent entity of Pubco (together with its successors,
including the Purchaser Surviving Subsidiary, “Purchaser”), (ii) Pubco, (iii) MTech Purchaser Merger
Sub Inc., a Delaware corporation and a wholly-owned subsidiary of Pubco (“Purchaser Merger Sub”), (iv)
MTech Company Merger Sub LLC, a Colorado limited liability company and a wholly-owned subsidiary of Pubco (“Company
Merger Sub” and together with Pubco, Purchaser and Purchaser Merger Sub, the “Purchaser Parties”),
(v) MTech Sponsor LLC, a Florida limited liability company, in the capacity as the Purchaser Representative thereunder (including
any successor Purchaser Representative appointed in accordance therewith, the “Purchaser Representative”),
(vi) the Company and (vii) Harold Handelsman, in the capacity as Seller Representative thereunder, pursuant to which, subject to
the terms and conditions thereof, among other matters, (a) Purchaser Merger Sub will merge with and into Purchaser, with Purchaser
continuing as the surviving entity (the “Purchaser Merger”), and with security holders of Purchaser receiving
substantially equivalent securities of Pubco, and (b) Company Merger Sub will merge with and into the Company, with the Company
continuing as the surviving entity (the “Company Merger”, and together with the Purchaser Merger, the
“Mergers” and, collectively with the other transactions contemplated by the Merger Agreement, the “Transactions”),
and with equity holders of the Company, including Seller, receiving shares of common stock of Pubco, and as a result of which Mergers,
among other matters, Purchaser and the Company will become wholly-owned subsidiaries of Pubco and Pubco will become a publicly
traded company, all upon the terms and subject to the conditions set forth in the Merger Agreement and in accordance with the applicable
provisions of the DGCL and the Colorado Act;

 

WHEREAS, the Company
(and after the Closing, Pubco), directly and indirectly through its Subsidiaries, creates and sells software, consulting and data
solutions for cannabis businesses, including cultivation management, point of sale, patient management and inventory tracking systems
(the “Business”);

 

WHEREAS, in connection
with, and as a condition to the Closing and to enable the Purchaser Parties and the Company to secure more fully the benefits of
the Transactions, including the protection and maintenance of the goodwill and confidential information of the Company and its
Subsidiaries and the other Covered Parties, the Purchaser Parties and the Company have required that Seller enter into this Agreement;

 

WHEREAS, Seller is
entering into this Agreement in order to induce the Purchaser Parties and the Company to consummate the Transactions, pursuant
to which Seller will directly or indirectly receive a material benefit; and

 

     

    

    

 

WHEREAS, Seller, as
a former and/or current member, manager, officer and/or employee of the Company and/or its Subsidiaries, has contributed to the
value of the Company and its Subsidiaries and has obtained extensive and valuable knowledge and confidential information concerning
the business of the Company and its Subsidiaries.

 

NOW, THEREFORE, in
order to induce the Purchaser Parties and the Company to consummate the Transactions, and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, Seller hereby agrees as follows:

 

1.           
Restriction on Competition.

 

(a)          
Restriction. Seller hereby agrees that during the period from the Closing until the four (4) year anniversary of
the Closing (the “Restricted Period”), Seller will not, and will cause its Affiliates not to, without
the prior written consent of Pubco (which may be withheld in its sole discretion), anywhere within the United States, Australia,
Canada, Chile, Columbia, Denmark, New Zealand, South Africa, Spain, Switzerland, Uraguay or in any other markets in which the Covered
Parties are engaged, or are actively contemplating to become engaged, in the Business as of the Closing or during the Restricted
Period (the “Territory”), directly or indirectly engage in the Business (other than through a Covered
Party) or own, manage, finance or control, or participate in the ownership, management, financing or control of, or become engaged
or serve as an officer, director, member, partner, employee, agent, consultant, advisor or representative of, a business or entity
(other than a Covered Party) that engages in the Business (a “Competitor”). Notwithstanding the foregoing,
Seller and its Affiliates may own passive investments of not more than three percent (3%) beneficially ownership of any class of
outstanding equity interests in a Competitor that is publicly traded, so long as Seller and its Affiliates and their respective
equity holders, directors, officers, managers and employees who were involved with the business of any of the Covered Parties are
not involved in the management or control of such Competitor (“Permitted Ownership”).

 

(b)          
Acknowledgment. Seller acknowledges and agrees, based upon the advice of legal counsel and/or Seller’s own
education, experience and training, that (i) Seller possesses knowledge of confidential information of the Covered Parties and
the Business, (ii) Seller’s execution of this Agreement is a material inducement to the Purchaser Parties and the Company
to consummate the Transactions and to realize the goodwill of the Company and its Subsidiaries, for which Seller and/or its Affiliates
will receive a substantial direct or indirect financial benefit, and that the Purchaser Parties and the Company would not have
consummated the Transactions but for Seller’s agreements set forth in this Agreement; (iii) it would impair the goodwill
of the Covered Parties and reduce the value of the assets of the Covered Parties and cause serious and irreparable injury if Seller
and/or its Affiliates were to use their ability and knowledge by engaging in the Business in competition with a Covered Party,
and/or to otherwise breach the obligations contained herein and that the Covered Parties would not have an adequate remedy at law
because of the unique nature of the Business, (iv) Seller and its Affiliates have no intention of engaging in the Business (other
than through the Covered Parties) during the Restricted Period other than through Permitted Ownership, (v) the relevant public
policy aspects of restrictive covenants, covenants not to compete and non-solicitation provisions have been discussed, and every
effort has been made to limit the restrictions placed upon Seller to those that are reasonable and necessary to protect the Covered
Parties’ legitimate interests, (vi) the Covered Parties conduct and intend to conduct the Business everywhere in the Territory
(subject to applicable legal limitations) and compete with other businesses that are or could be located in any part of the Territory
(subject to applicable legal limitations), (vii) the foregoing restrictions on competition are fair and reasonable in type of prohibited
activity, geographic area covered, scope and duration, (viii) the provisions of this Agreement will not prevent Seller from earning
a livelihood, (ix) the consideration provided to Seller under this Agreement and the Merger Agreement is not illusory, and (x)
such provisions do not impose a greater restraint than is necessary to protect the goodwill or other business interests of the
Covered Parties.

 

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2.          
 No Solicitation; No Disparagement.

 

(a)          
No Solicitation of Employees and Consultants. Seller agrees that, during the Restricted Period, Seller will not,
and will not permit its Affiliates to, without the prior written consent of Pubco (which may be withheld in its sole discretion),
either on its own behalf or on behalf of any other Person (other than, if applicable, a Covered Party in the performance of its
duties on behalf of the Covered Parties), directly or indirectly: (i) hire or engage as an employee, independent contractor, consultant
or otherwise any Covered Personnel (as defined below); (ii) solicit, induce, encourage or otherwise knowingly cause (or attempt
to do any of the foregoing) any Covered Personnel to leave the service (whether as an employee, consultant or independent contractor)
of any Covered Party; or (iii) in any way interfere with or attempt to interfere with the relationship between any Covered Personnel
and any Covered Party; provided, however, Seller and its Affiliates will not be deemed to have violated this Section
2(a) if any Covered Personnel voluntarily and independently solicits an offer of employment from Seller or its Affiliate (or
other Person whom any of them is acting on behalf of) by responding to a general advertisement or solicitation program conducted
by or on behalf of Seller or its Affiliate (or such other Person whom any of them is acting on behalf of) that is not targeted
at such Covered Personnel or Covered Personnel generally, so long as such Covered Personnel is not hired. For purposes of this
Agreement, “Covered Personnel” means any Person who is or was an employee, consultant or independent
contractor of the Covered Parties as of the date of the relevant act prohibited by this Section 2(a) or during the one (1)
year period preceding such date.

 

(b)          
Non-Solicitation of Customers and Suppliers. Seller agrees that, during the Restricted Period, Seller will not, and
will not permit its Affiliates to, without the prior written consent of Pubco (which may be withheld in its sole discretion), individually
or on behalf of any other Person (other than, if applicable, a Covered Party in the performance of its duties on behalf of the
Covered Parties), directly or indirectly: (i) solicit, induce, encourage or otherwise knowingly cause (or attempt to do any of
the foregoing) any Covered Customer (as defined below) to (A) cease being, or not become, a client or customer of any Covered Party
with respect to the Business or (B) reduce the amount of business of such Covered Customer with any Covered Party, or otherwise
alter such business relationship in a manner adverse to any Covered Party, in either case, with respect to or relating to the Business;
(ii) interfere with or disrupt (or attempt to interfere with or disrupt) the contractual relationship between any Covered Party
and any Covered Customer; (iii) divert any business with any Covered Customer relating to the Business from a Covered Party; (iv)
solicit for business, provide services to, engage in or do business with, any Covered Customer for products or services that are
part of the Business; or (v) interfere with or disrupt (or attempt to interfere with or disrupt), any Person that was a vendor,
supplier, distributor, agent or other service provider of a Covered Party at the time of such interference or disruption, for a
purpose competitive with a Covered Party as it relates to the Business. For purposes of this Agreement, a “Covered
Customer” means any Person who is or was an actual customer or client (or prospective customer or client with whom
a Covered Party actively marketed or made or took specific action to make a proposal) of a Covered Party as of the date of the
relevant act prohibited by this Section 2(b) or during the one (1) year period preceding such date.

 

(c)          
Non-Disparagement. Seller agrees that from and after the Closing until the Second (2nd) anniversary of
the end of the Restricted Period, Seller will not, and will not permit its Affiliates to, directly or indirectly engage in any
conduct that involves the making or publishing (including through electronic mail distribution or online social media) of any written
or oral statements or remarks (including the repetition or distribution of derogatory rumors, allegations, negative reports or
comments) that are disparaging, deleterious or damaging to the integrity, reputation or good will of one or more Covered Parties
or their respective management, officers, employees, independent contractors or consultants. Notwithstanding the foregoing, subject
to Section 3 below, the provisions of this Section 2(c) shall not restrict Seller from providing truthful testimony
or information in response to a subpoena or investigation by a Governmental Authority or in connection with any legal action by
Seller or its Affiliate against any Covered Party under this Agreement, the Merger Agreement or any other Ancillary Document that
is asserted by Seller or its Affiliate in good faith.

 

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3.           
Confidentiality. From and after the Closing, Seller will, and will cause its Representatives to, keep confidential and
not (except, if applicable, in the performance of its duties on behalf of the Covered Parties) directly or indirectly use, disclose,
reveal, publish, transfer or provide access to, any and all Covered Party Information without the prior written consent of Pubco
(which may be withheld in its sole discretion). As used in this Agreement, “Covered Party Information”
means all material and information relating to the business, affairs and assets of any Covered Party, including material and information
that concerns or relates to such Covered Party’s bidding and proposal, technical information, computer hardware or software,
administrative, management, operational, data processing, financial, marketing, customers, sales, vendors, human resources, employees,
business development, planning and/or other business activities, regardless of whether such material and information is maintained
in physical, electronic, or other form, that is: (A) gathered, compiled, generated, produced or maintained by such Covered Party
through its Representatives, or provided to such Covered Party by its suppliers, service providers or customers; and (B) intended
and maintained by such Covered Party or its Representatives, suppliers, service providers or customers to be kept in confidence.
Covered Party Information also includes information disclosed to any Covered Party by third parties to the extent that a Covered
Party has an obligation of confidentiality in connection therewith. The obligations set forth in this Section 3 will not
apply to any Covered Party Information where Seller can prove that such material or information: (i) is known or available through
other lawful sources not bound by a confidentiality agreement with, or other confidentiality obligation with respect to such material
or information; (ii) is or becomes publicly known through no violation of this Agreement or other non-disclosure obligation of
Seller or any of its Representatives; (iii) is already in the possession of Seller at the time of disclosure through lawful sources
not bound by a confidentiality agreement or other confidentiality obligation as evidenced by Seller’s documents and records;
or (iv) is required to be disclosed pursuant to an order of any administrative body or court of competent jurisdiction (provided
that (A) the applicable Covered Party is given reasonable prior written notice, (B) Seller cooperates (and causes its Representatives
to cooperate) with any reasonable request of any Covered Party to seek to prevent or narrow such disclosure and (C) if after compliance
with clauses (A) and (B) such disclosure is still required, Seller and its Representatives only disclose such portion of the Covered
Party Information that is expressly required by such order, as it may be subsequently narrowed).

 

4.           
Notification to Subsequent Employer. Seller agrees that, during the Restricted Period, any Covered Party may notify
any Person employing or otherwise retaining the services of Seller or evidencing an intention of employing or retaining the services
of Seller the existence and provisions of this Agreement.

 

5.           
Representations and Warranties. Seller hereby represents and warrants, to and for the benefit of the Covered Parties,
as of the date of this Agreement and as of the Closing, that: (a) Seller has full power and capacity to execute and deliver, and
to perform all of Seller’s obligations under, this Agreement; and (b) neither the execution and delivery of this Agreement
nor the performance of Seller’s obligations hereunder will result directly or indirectly in a violation or breach of any
agreement or obligation by which Seller is a party or otherwise bound. By entering into this Agreement, Seller certifies and acknowledges
that Seller has carefully read all of the provisions of this Agreement, and that Seller voluntarily and knowingly enters into this
Agreement.

 

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6.           
Remedies. The covenants and undertakings of Seller contained in this Agreement relate to matters which are of a special,
unique and extraordinary character and a violation of any of the terms of this Agreement may cause irreparable injury to the Covered
Parties, the amount of which may be impossible to estimate or determine and which cannot be adequately compensated. Seller agrees
that, in the event of any breach or threatened breach by Seller of any covenant or obligation contained in this Agreement, each
applicable Covered Party will be entitled to obtain the following remedies (in addition to, and not in lieu of, any other remedy
at law or in equity or pursuant to the Merger Agreement or the other Ancillary Documents that may be available to the Covered Parties,
including monetary damages), and a court of competent jurisdiction may award: (i) an injunction, restraining order or other equitable
relief restraining or preventing such breach or threatened breach, without the necessity of proving actual damages or that monetary
damages would be insufficient or posting bond or security, which Seller expressly waives; and (ii) recovery of the Covered Party’s
attorneys’ fees and costs incurred in enforcing the Covered Party’s rights under this Agreement. Seller hereby consents
to the award of any of the above remedies to the applicable Covered Party in connection with any such breach or threatened breach.
Seller hereby acknowledges and agrees that in the event of any breach of this Agreement, any value attributed or allocated to this
Agreement (or any other non-competition agreement with Seller) under or in connection with the Merger Agreement shall not be considered
a measure of, or a limit on, the damages of the Covered Parties.

 

7.           
Survival of Obligations. The expiration of the Restricted Period will not relieve Seller of any obligation or liability
arising from any breach by Seller of this Agreement during the Restricted Period. Seller further agrees that the time period during
which the covenants contained in Section 1 and Section 2 of this Agreement will be effective will be computed by
excluding from such computation any time during which Seller is in violation of any provision of such Sections.

 

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8.           
Miscellaneous.

 

(a)          
Notices. All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed
to have been duly given when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation
of receipt, (iii) one Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv)
three (3) Business Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in
each case to the applicable party at the following addresses (or at such other address for a party as shall be specified by like
notice):

 

	
        If to Pubco or any other Covered Party,
        to:

         

        [post-Closing Pubco name]

1601 Arapahoe Street, Suite 900

Denver, CO 80202

Attn: Jessica Billingsley, CEO

Facsimile No.: (888) 932-6537

Telephone No.: (888) 932-6537

Email: jessica@mjfreeway.com 

         

        and

         

        MTech Sponsor LLC

10124 Foxhurst Court

Orlando, Florida 32836

Attn: Scott Sozio

Facsimile No.: (407) 370-3097

Telephone No.: (407) 345-8332

Email: scott@vandykeholdings.com
	
        with a copy (that will not constitute notice)
        to: 

         

        Graubard Miller

        The Chrysler Building

        405 Lexington Avenue - 11th Floor

        New York, New York 10174

        Attn: David Alan Miller, Esq.

        Facsimile No.: (212) 818-8881

        Telephone No.: (212) 818-8661

        Email: DMiller@graubard.comand

         

        and

         

        Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas, 11th Floor

New York, New York 10105

Attn:     Stuart Neuhauser, Esq.

               Matthew A. Gray, Esq.

Facsimile No.: (212) 370-7889

Telephone No.: (212) 370-1300

Email:    sneuhauser@egsllp.com

               mgray@egsllp.com

	If to Seller, to: 

the address below Seller’s name on the signature page to this Agreement.

 

(b)          
Integration and Non-Exclusivity. This Agreement, the Merger Agreement and the other Ancillary Documents contain the
entire agreement between Seller and the Covered Parties concerning the subject matter hereof. Notwithstanding the foregoing, the
rights and remedies of the Covered Parties under this Agreement are not exclusive of or limited by any other rights or remedies
which they may have, whether at law, in equity, by contract or otherwise, all of which will be cumulative (and not alternative).
Without limiting the generality of the foregoing, the rights and remedies of the Covered Parties, and the obligations and liabilities
of Seller and its Affiliates, under this Agreement, are in addition to their respective rights, remedies, obligations and liabilities
(i) under the laws of unfair competition, misappropriation of trade secrets, or other requirements of statutory or common law,
or any applicable rules and regulations and (ii) otherwise conferred by contract, including the Merger Agreement and any other
written agreement between Seller or its Affiliate and any of the Covered Parties. Nothing in the Merger Agreement will limit any
of the obligations, liabilities, rights or remedies of Seller or the Covered Parties under this Agreement, nor will any breach
of the Merger Agreement or any other agreement between Seller or its Affiliate and any of the Covered Parties limit or otherwise
affect any right or remedy of the Covered Parties under this Agreement. If any term or condition of any other agreement between
Seller or its Affiliate and any of the Covered Parties conflicts or is inconsistent with the terms and conditions of this Agreement,
the more restrictive terms will control as to Seller or its Affiliate, as applicable.

 

(c)          
Severability; Reformation. Each provision of this Agreement is separable from every other provision of this Agreement.
If any provision of this Agreement is found or held to be invalid, illegal or unenforceable, in whole or in part, by a court of
competent jurisdiction, then (i) such provision will be deemed amended to conform to applicable laws so as to be valid, legal and
enforceable to the fullest possible extent, (ii) the invalidity, illegality or unenforceability of such provision will not affect
the validity, legality or enforceability of such provision under any other circumstances or in any other jurisdiction, and (iii)
the invalidity, illegality or unenforceability of such provision will not affect the validity, legality or enforceability of the
remainder of such provision or the validity, legality or enforceability of any other provision of this Agreement. Seller and the
Covered Parties will substitute for any invalid, illegal or unenforceable provision a suitable and equitable provision that carries
out, so far as may be valid, legal and enforceable, the intent and purpose of such invalid, illegal or unenforceable provision.
Without limiting the foregoing, if any court of competent jurisdiction determines that any part hereof is unenforceable because
of the duration, geographic area covered, scope of such provision, or otherwise, such court will have the power to reduce the duration,
geographic area covered or scope of such provision, as the case may be, and, in its reduced form, such provision will then be enforceable.
Seller will, at a Covered Party’s request, join such Covered Party in requesting that such court take such action.

 

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(d)          
Amendment; Waiver. This Agreement may not be amended or modified in any respect, except by a written agreement executed
by Seller, Pubco and the Purchaser Representative (or their respective permitted successors or assigns). No waiver will be effective
unless it is expressly set forth in a written instrument executed by the waiving party (and if such waiving party is a Covered
Party, the Purchaser Representative) and any such waiver will have no effect except in the specific instance in which it is given.
Any delay or omission by a party in exercising its rights under this Agreement, or failure to insist upon strict compliance with
any term, covenant, or condition of this Agreement will not be deemed a waiver of such term, covenant, condition or right, nor
will any waiver or relinquishment of any right or power under this Agreement at any time or times be deemed a waiver or relinquishment
of such right or power at any other time or times.

 

(e)          
Dispute Resolution. Any dispute, difference, controversy or claim arising in connection with or related or incidental
to, or question occurring under, this Agreement or the subject matter hereof (other than applications for a temporary restraining
order, preliminary injunction, permanent injunction or other equitable relief or application for enforcement of a resolution under
this Section 8(e)) (a “Dispute”) shall be governed by this Section 8(e). A party must,
in the first instance, provide written notice of any Disputes to the other parties subject to such Dispute, which notice must provide
a reasonably detailed description of the matters subject to the Dispute. Any Dispute that is not resolved may at any time after
the delivery of such notice immediately be referred to and finally resolved by arbitration pursuant to the then-existing Expedited
Procedures (as defined in the AAA Procedures) of the Commercial Arbitration Rules (the “AAA Procedures”)
of the American Arbitration Association (the “AAA”). Any party involved in such Dispute may submit the
Dispute to the AAA to commence the proceedings after the Resolution Period. To the extent that the AAA Procedures and this Agreement
are in conflict, the terms of this Agreement shall control. The arbitration shall be conducted by one arbitrator nominated by the
AAA promptly (but in any event within five (5) Business Days) after the submission of the Dispute to the AAA and reasonably acceptable
to each party subject to the Dispute, which arbitrator shall be a commercial lawyer with substantial experience arbitrating disputes
under acquisition agreements. The arbitrator shall accept his or her appointment and begin the arbitration process promptly (but
in any event within five (5) Business Days) after his or her nomination and acceptance by the parties subject to the Dispute. The
proceedings shall be streamlined and efficient. The arbitrator shall decide the Dispute in accordance with the substantive law
of the State of New York. Time is of the essence. Each party shall submit a proposal for resolution of the Dispute to the arbitrator
within twenty (20) days after confirmation of the appointment of the arbitrator. The arbitrator shall have the power to order any
party to do, or to refrain from doing, anything consistent with this Agreement, the Ancillary Documents and applicable Law, including
to perform its contractual obligation(s); provided, that the arbitrator shall be limited to ordering pursuant to the foregoing
power (and, for the avoidance of doubt, shall order) the relevant party (or parties, as applicable) to comply with only one or
the other of the proposals. The arbitrator's award shall be in writing and shall include a reasonable explanation of the arbitrator's
reason(s) for selecting one or the other proposal. The seat of arbitration shall be in New York County, State of New York. The
language of the arbitration shall be English.

 

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(f)          
 Governing Law; Jurisdiction. This Agreement shall be governed by, construed and enforced in accordance with the
Laws of the State of New York without regard to the conflict of laws principles thereof. Subject to Section 8(e), all Actions
arising out of or relating to this Agreement shall be heard and determined exclusively in any state or federal court located in
New York, New York (or in any appellate courts thereof) (the “Specified Courts”). Subject to Section
8(e), each party hereto hereby (a) submits to the exclusive jurisdiction of any Specified Court for the purpose of any Action
arising out of or relating to this Agreement brought by any party hereto, (b) irrevocably waives, and agrees not to assert by way
of motion, defense or otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the above-named
courts, that its property is exempt or immune from attachment or execution, that the Action is brought in an inconvenient forum,
that the venue of the Action is improper, or that this Agreement or the transactions contemplated hereby may not be enforced in
or by any Specified Court and (c) waives any bond, surety or other security that might be required of any other party with respect
thereto. Each party agrees that a final judgment in any Action shall be conclusive and may be enforced in other jurisdictions by
suit on the judgment or in any other manner provided by Law or in equity. Each party irrevocably consents to the service of the
summons and complaint and any other process in any other action or proceeding relating to the transactions contemplated by this
Agreement, on behalf of itself, or its property, by personal delivery of copies of such process to such party at the applicable
address set forth in Section 8(a). Nothing in this Section 8(f) shall affect the right of any party to serve legal
process in any other manner permitted by Law.

 

(g)          
WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION
WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT
FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG
OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 8(g). ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART
OR A COPY OF THIS SECTION 8(g) WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS
RIGHT TO TRIAL BY JURY.

 

(h)          
Successors and Assigns; Third Party Beneficiaries. This Agreement will be binding upon Seller and Seller’s
estate, successors and assigns, and will inure to the benefit of the Covered Parties, and their respective successors and assigns.
Each Covered Party may freely assign any or all of its rights under this Agreement, at any time, in whole or in part, to any Person
which acquires, in one or more transactions, at least a majority of the equity securities (whether by equity sale, merger or otherwise)
of such Covered Party or all or substantially all of the assets of such Covered Party and its Subsidiaries, taken as a whole, without
obtaining the consent or approval of Seller. Seller agrees that the obligations of Seller under this Agreement are personal and
will not be assigned by Seller. Each of the Covered Parties are express third party beneficiaries of this Agreement and will be
considered parties under and for purposes of this Agreement.

 

(i)           
Purchaser Representative Authorized to Act on Behalf of Covered Parties. The parties acknowledge and agree that the
Purchaser Representative is authorized and shall have the sole right to act on behalf of Pubco and the other Covered Parties under
this Agreement, including the right to enforce Pubco’s and the other Covered Parties’ rights and remedies under this
Agreement. Without limiting the foregoing, in the event that Seller or its Affiliate serves as a director, officer, employee or
other authorized agent of a Covered Party, Seller or such Affiliate shall have no authority, express or implied, to act or make
any determination on behalf of a Covered Party in connection with this Agreement or any dispute or Action with respect hereto.

 

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(j)          
Construction. Seller acknowledges that Seller has been represented by counsel, or had the opportunity to be represented
by counsel of Seller’s choice. Any rule of construction to the effect that ambiguities are to be resolved against the drafting
party will not be applied in the construction or interpretation of this Agreement. Neither the drafting history nor the negotiating
history of this Agreement will be used or referred to in connection with the construction or interpretation of this Agreement.
The headings and subheadings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning
or interpretation of this Agreement. In this Agreement: (i) the words “include,” “includes” and “including”
when used herein shall be deemed in each case to be followed by the words “without limitation”; (ii) the definitions
contained herein are applicable to the singular as well as the plural forms of such terms; (iii) whenever required by the context,
any pronoun shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs
shall include the plural and vice versa; (iv) the words “herein,” “hereto,” and “hereby” and
other words of similar import shall be deemed in each case to refer to this Agreement as a whole and not to any particular Section
or other subdivision of this Agreement; (v) the word “if” and other words of similar import when used herein shall
be deemed in each case to be followed by the phrase “and only if”; (vi) the term “or” means “and/or”;
and (vii) any agreement or instrument defined or referred to herein or in any agreement or instrument that is referred to herein
means such agreement or instrument as from time to time amended, modified or supplemented, including by waiver or consent and references
to all attachments thereto and instruments incorporated therein.

 

(k)          
Counterparts. This Agreement may be executed in one or more counterparts, and by the different parties hereto in
separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute
one and the same agreement. A photocopy, faxed, scanned and/or emailed copy of this Agreement or any signature page to this Agreement,
shall have the same validity and enforceability as an originally signed copy.

 

(l)          
Effectiveness. This Agreement shall be binding upon Seller upon Seller’s execution and delivery of this Agreement,
but this Agreement shall only become effective upon the Closing. In the event that the Merger Agreement is validly terminated in
accordance with its terms prior to the Closing, this Agreement shall automatically terminate and become null and void, and the
parties shall have no obligations hereunder.

 

[Remainder
of Page Intentionally Left Blank; Signature Page Follows]

 

     9

    

    

 

IN WITNESS WHEREOF,
the undersigned has duly executed and delivered this Non-Competition and Non-Solicitation Agreement as of the date first written
above.

 

	 	Seller:	 	 
	 	 		 
	 	[_____________________________]	 
	 	 	 	 
	 	By:	 	 
	 	Name:	 
	 	Title:	 

 

	 	Address for Notice:	 
	 	 	 	 
	 	Address: 	 	 
	 	 	 
	 	 	 
	 	Facsimile No.:	 	 
	 	Telephone No.: 	 	 
	 	Email:	 	 	 

 

     

    

    

 

Acknowledged and accepted as of the
date first written above:

 

	Pubco:	 
	 	 	 
	MTECH ACQUISITION HOLDINGS INC.	 
	 	 	 
	By:	 	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	The Company:	 
	 	 	 
	MJ FREEWAY LLC	 
	 	 	 
	By:	 	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	The Purchaser Representative:	 
	 	 	 
	MTECH SPONSOR LLC,	 
	solely in its capacity as the Purchaser Representative	 
	 	 	 
	By:	 	 	 
	Name:	 	 
	Title:Exhibit 10.5

MTech Acquisition Holdings Inc.

 

2018 Long Term Incentive Plan

 

		Section 1.	Purpose;
                                         Definitions.

 

1.1.         Purpose. The
purpose of the Plan is to enable the Company to offer to employees, officers and directors of and consultants to the Company
and its Subsidiaries, Parent and Affiliates whose past, present and/or potential future contributions to the Company and its
Subsidiaries have been, are or will be important to the success of the Company, an opportunity to share monetarily in the
success of and/or acquire a proprietary interest in the Company. The various types of long-term
incentive awards that may be provided under the Plan will enable the Company to respond to changes in compensation practices,
tax laws, accounting regulations and the size and diversity of its businesses.

 

1.2.         Definitions. For
purposes of the Plan, the following terms shall be defined as set forth below:

 

(a)       “Affiliate”
means a corporation, limited liability company or other entity that controls, is controlled by, or is under common control with
the Company and designated by the Committee from time to time as such.

 

(b)       “Agreement”
means the agreement between the Company and the Holder, or such other document as may be determined by the Committee, setting forth
the terms and conditions of an award under the Plan.

 

(c)       “Asset
Sale” means an acquisition by any one person, or more than one person acting as a group, together with acquisitions during
the 12-month period ending on the date of the most recent acquisition by such person or persons, of assets from the Company that
have a total gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets of the
Company immediately before such acquisition or acquisitions. For this purpose, gross fair market value means the value of the assets
of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such
assets.

 

(d)       “Board”
means the Board of Directors of the Company.

 

(e)       “Change
of Control” means a transaction in which any one person, or more than one person acting as a group, acquires the ownership
of stock of the Company that, together with the stock held by such person or group, constitutes more than 50% of the total Fair
Market Value or combined voting power of the stock of the Company. A Change in Control caused by an increase in the percentage
of stock owned by any one person, or persons acting as a group, as a result of a transaction in which the Company acquires its
stock in exchange for property is not treated as a Change of Control for purposes of the Plan.

 

(f)       “Code”
means the Internal Revenue Code of 1986, as amended from time to time.

 

(g)       “Committee”
means the committee of the Board designated to administer the Plan as provided in Section 2.1. If no Committee is so designated,
then all references in this Plan to “Committee” shall mean the Board.

 

     

     

    

 

(h)       “Common
Stock” means the Common Stock of the Company, par value $.0001 per share.

 

(i)       “Company”
means MTech Acquisition Holdings Inc., a corporation organized under the laws of the State of Delaware.

 

(j)       “Disability”
means physical or mental impairment as determined under procedures established by the Committee for purposes of the Plan.

 

(k)       “Effective
Date” means the date determined pursuant to Section 11.1.

 

(l)       “Fair
Market Value,” unless otherwise required by any applicable provision of the Code or any regulations issued thereunder, means,
as of any given date: (i) if the Common Stock is listed on a national securities exchange or is traded over-the-counter and last
sale information is available, unless otherwise determined by the Committee, the last sale price of the Common Stock in the principal
trading market for the Common Stock on such date, as reported by the exchange or by such source that the Committee deems reliable,
as the case may be; or (ii) if the fair market value of the Common Stock cannot be determined pursuant to clause (i), such price
as the Committee shall determine, in good faith.

 

(m)       “Holder”
means a person who has received an award under the Plan.

 

(n)       
“Incentive Stock Option” means any Stock Option intended to be and designated as an “incentive stock option”
within the meaning of Section 422 of the Code.

 

(o)       “Non-qualified
Stock Option” means any Stock Option that is not an Incentive Stock Option.

 

(p)       “Normal
Retirement” means retirement from active employment with the Company or any Subsidiary on or after such age which may be
designated by the Committee as “retirement age” for any particular Holder. If no age is designated, it shall be 65.

 

(q)       “Other
Stock-Based Award” means an award under Section 8 that is valued in whole or in part by reference to, or is otherwise based
upon, Common Stock.

 

(r)       “Parent”
means any present or future “parent corporation” of the Company, as such term is defined in Section 424(e) of the Code.

 

(s)       
“Plan” means the Company’s 2018 Long Term Incentive Plan, as hereinafter amended from time to time.

 

(t)       “Repurchase
Value” shall mean the Fair Market Value if the award to be settled under Section 2.2(e) or repurchased under Section 5.2(l)
is comprised of shares of Common Stock and the difference between Fair Market Value and the exercise price (if lower than Fair
Market Value) if the award is a Stock Option or Stock Appreciation Right; in each case, multiplied by the number of shares subject
to the award. “Repurchase Value” if the award to be repurchased under Section 9.2 is comprised of shares of Common
Stock shall mean the greater of the Fair Market Value or the value of such award based upon the price per share of Common Stock
received or to be received by other shareholders of the Company in the event. “Repurchase Value” if the award to be
repurchased under Section 9.2 is comprised of Stock Options or Stock Appreciation Rights shall mean the difference between the
greater of (1) the Fair Market Value or the value of such award based upon the price per share of Common Stock received or to be
received by other shareholders of the Company in the event and (2) the exercise price (if lower), multiplied by the number of shares
subject to the award.

 

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(u)       “Restriction
Period” means the time or times within which awards may be subject to forfeiture, including upon
termination of employment or failure of performance conditions.

 

(v)       “Restricted
Stock” means Common Stock received under an award made pursuant to Section 7 that is subject to restrictions under Section
7.

 

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

 

(x)       “SAR
Value” means the excess of the Fair Market Value (on the exercise date) over (a) the exercise price that the participant
would have otherwise had to pay to exercise the related Stock Option or (b) if a Stock Appreciation Right is granted unrelated
to a Stock Option, the Fair Market Value of a share of Common Stock on the date of grant of the Stock Appreciation Right, in either
case, multiplied by the number of shares for which the Stock Appreciation Right is exercised.

 

(y)       “Stock
Appreciation Right” means the right to receive from the Company, without a cash payment to the Company, either a number of
shares of Common Stock equal to the SAR Value divided by the Fair Market Value (on the exercise date), or, at the Company’s
election, cash in the amount of the SAR Value.

 

(z)       “Stock
Option” or “Option” means any option to purchase shares of Common Stock which is granted pursuant to the Plan.

 

(aa) “Subsidiary”
means any present or future “subsidiary corporation” of the Company, as such term is defined in Section 424(f) of the
Code.

 

(bb) “Vest” means
to become exercisable or to otherwise obtain ownership rights in an award. No award shall vest in less
than a one-year period.

 

		Section 2.	Administration.

 

2.1.       Committee
Membership. The Plan shall be administered by the Board
or a Committee. If administered by a Committee, such Committee shall be composed of at least two directors, all of whom are “non-employee”
directors within the meaning of Rule 16b-3 under the Securities Exchange Act of 1934, as amended. Committee members shall
serve for such term as the Board may in each case determine and shall be subject to removal at any time by the Board.

 

2.2.       Powers
of Committee. The Committee shall have full authority
to award, pursuant to the terms of the Plan: (i) Stock Options, (ii) Stock Appreciation Rights, (iii) Restricted Stock, (iv) Restricted
Stock Units, and/or (v) Other Stock-Based Awards. For purposes of illustration and not of limitation, the Committee shall have
the authority (subject to the express provisions of this Plan):

 

     3

     

    

 

(a)       to
select the officers, employees, directors and consultants of the Company, Parent, Subsidiary or Affiliate to whom Stock Options,
Stock Appreciation Rights, Restricted Stock, Restricted Stock Units and/or Other Stock-Based Awards may from time to time be awarded
hereunder;

 

(b)       to
determine the terms and conditions, not inconsistent with the terms of the Plan, of any award granted hereunder (including, but
not limited to, number of shares, share exercise price or types of consideration paid upon exercise of such options, such as other
securities of the Company or other property, any restrictions or limitations, and any vesting, exchange, surrender, cancellation,
acceleration, termination, exercise or forfeiture provisions, as the Committee shall determine);

 

(c)       to
determine any specified performance goals or such other factors or criteria which need to be attained for the vesting of an award
granted hereunder;

 

(d)       to
determine the terms and conditions under which awards granted hereunder are to operate on a tandem basis and/or in conjunction
with or apart from other awards under this Plan and cash and non-cash awards made by the Company, Parent, Subsidiary and/or Affiliate
outside of this Plan; and

 

(e)       to
make payments and distributions with respect to awards (i.e., to “settle” awards) through cash payments in an
amount equal to the Repurchase Value.

 

The Committee may not modify or amend any
outstanding Option or Stock Appreciation Right to reduce the exercise price of such Option or Stock Appreciation Right, as applicable,
below the exercise price as of the date of grant of such Option or Stock Appreciation Right. In addition, no payment of cash or
other property having a value greater than the Repurchase Value may be made, and no Option or Stock Appreciation Right with a lower
exercise price may be granted, in exchange for, or in connection with, the cancellation or surrender of an Option or Stock Appreciation
Right.

 

Non-employee directors may not be granted
any awards covering more than [●] shares of Common Stock in any year.

 

2.3.       Interpretation
of Plan. Subject to Section 10, the Committee shall have the authority to adopt, alter and repeal such administrative rules,
guidelines and practices governing the Plan as it shall from time to time deem advisable, to interpret the terms and provisions
of the Plan and any award issued under the Plan (and to determine the form and substance of all Agreements relating thereto), and
to otherwise supervise the administration of the Plan. Subject to Section 10, all decisions made by
the Committee pursuant to the provisions of the Plan shall be made in the Committee’s sole discretion and shall be final
and binding upon all persons, including the Company, its Parent, Subsidiaries, Affiliates and Holders.

 

	Section 3.	Stock Subject to Plan.

 

3.1.       Number
of Shares. The total number of shares of Common Stock
reserved and available for issuance under the Plan shall be up to [●] shares. Shares of Common Stock under the Plan (“Shares”)
may consist, in whole or in part, of authorized and unissued shares or treasury shares. If any shares of Common Stock that have
been granted pursuant to a Stock Option cease to be subject to a Stock Option, or if any shares of Common Stock that are subject
to any Stock Appreciation Right, Restricted Stock award, Restricted Stock Units or Other Stock-Based
Award granted hereunder are forfeited, or any such award otherwise terminates without a payment being made to the Holder in the
form of Common Stock, such shares shall again be available for distribution in connection with future grants and awards
under the Plan. If a Holder pays the exercise price of a Stock Option by surrendering any previously owned shares and/or arranges
to have the appropriate number of shares otherwise issuable upon exercise withheld to cover the withholding tax liability associated
with the Stock Option exercise, then, in the Committee’s discretion, the number of shares available under the Plan may be
increased by the lesser of (i) the number of such surrendered shares and shares used to pay taxes; and (ii) the number of shares
purchased under such Stock Option.

  

     4

     

    

 

3.2.       Adjustment
Upon Changes in Capitalization, Etc. In the event of any
common stock dividend payable on shares of Common Stock, Common Stock split or reverse split, combination or exchange of shares
of Common Stock, or other extraordinary or unusual event which results in a change in the shares of Common Stock of the Company
as a whole, the Committee shall determine, in its sole discretion, whether such change equitably requires
an adjustment in the terms of any award in order to prevent dilution or enlargement of the benefits
available under the Plan (including number of shares subject to the award and the exercise price) or the aggregate number of shares
reserved for issuance under the Plan. Any such adjustments will be made by the Committee, whose determination will be final,
binding and conclusive.

 

3.3.       Administrative
Stand Still. In the event of any changes in capitalization described
above in Section 3.2, or any other extraordinary transaction or change affecting the shares or the share price of Common Stock,
including any equity restructuring or any securities offering or other similar transaction, for administrative convenience, the
Committee may refuse to permit the exercise of any award for up to sixty days before and/or after such transaction; provided, however,
that the Committee may not refuse to permit the exercise of any award during the last five trading days prior to the expiration
of such award.

 

3.4.       Substitute
Awards. In connection with an entity’s merger or consolidation with the Company or any Subsidiary or Affiliate or the
Company’s or any Subsidiary’s or Affiliate’s acquisition of an entity’s property or stock, the Committee
may grant awards in substitution for any options or other stock or stock-based awards granted before such merger or consolidation
by such entity or its affiliate. Substitute awards may be granted on such terms as the Committee deems appropriate, notwithstanding
limitations on awards in the Plan. Substitute awards will not count against the plan limit, except that shares acquired by exercise
of substitute Incentive Stock Options will count against the maximum number of shares that may be issued pursuant to the exercise
of Incentive Stock Options under the Plan.

 

	Section 4.	Eligibility.

 

Awards may be made or granted to employees,
officers, directors and consultants of the Company or its Subsidiaries, Parent or Affiliates who are deemed to have rendered or
to be able to render significant services to the Company or its Subsidiaries and who are deemed to have contributed or to have
the potential to contribute to the success of the Company or Subsidiary and which recipients are qualified to receive options under
the regulations governing Form S-8 registration statements under the Securities Act of 1933, as amended (“Securities Act”).
No Incentive Stock Option shall be granted to any person who is not an employee of the Company, a Subsidiary,
Parent or Affiliate (including any non-employee directors) at the time of grant or so qualified as set forth in the immediately
preceding sentence. Notwithstanding anything to the contrary, an award may be made or granted to a person in connection with his
hiring or retention, or at any time on or after the date he reaches an agreement (oral or written) with the Company or its Subsidiaries,
Parent or Affiliates with respect to such hiring or retention, even though it may be prior to the date the person first performs
services for the Company or its Subsidiaries; provided, however, that no portion of any such award shall vest prior to the date
the person first performs such services and the date of grant shall be deemed to be the date hiring or retention commences. 

 

     5

     

    

 

	Section 5.	Stock Options.

 

5.1.       Grant
and Exercise. Stock Options granted under the Plan may
be of two types: (i) Incentive Stock Options and (ii) Non-qualified Stock Options. Any Stock Option granted under the Plan shall
contain such terms, not inconsistent with this Plan, or with respect to Incentive Stock Options, not inconsistent with the Plan
and the Code, as the Committee may from time to time approve. The Committee shall have the authority to grant Incentive Stock Options
or Non-qualified Stock Options, or both types of Stock Options which may be granted alone or in addition
to other awards granted under the Plan. 

 

5.2.       Terms
and Conditions. Stock Options granted under the Plan shall
be subject to the following terms and conditions:

 

(a)       Option
Term. The term of each Stock Option shall be fixed by
the Committee; provided, however, that no Stock Option may be exercisable after the expiration of ten years from the date of grant;
provided, further, that no Incentive Stock Option granted to a person who, at the time of grant, owns
stock possessing more than 10% of the total combined voting power of all classes of voting stock of the Company
(“10% Shareholder”) may be exercisable after the expiration of five years from the date of grant.

 

(b)       Exercise
Price. The exercise price per share of Common Stock purchasable
under a Stock Option shall be determined by the Committee at the time of grant; provided, however, that the exercise price of a
Stock Option may not be less than 100% of the Fair Market Value on the date of grant or, if greater, the par value of a share of
Common Stock; provided, further, that the exercise price of an Incentive Stock Option granted to a 10% Shareholder may not be less
than 110% of the Fair Market Value on the date of grant.

 

(c)       Exercisability. Stock
Options shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by the Committee.
The Committee intends generally to provide that Stock Options be exercisable only in installments, i.e., that
they vest over time, typically over a two- to five-year period. The Committee may waive such installment exercise provisions at
any time at or after the time of grant in whole or in part, based upon such factors as the Committee determines. 

 

(d)       Method
of Exercise. Subject to whatever installment, exercise
and waiting period provisions are applicable in a particular case, Stock Options may be exercised in whole or in part at any time
during the term of the Option by giving written notice of exercise to the Company specifying the number of shares of Common Stock
to be purchased. Such notice shall be accompanied by payment in full of the purchase price, which shall be in cash or, if provided
in the Agreement, either in shares of Common Stock (including Restricted Stock and other contingent
awards under this Plan) or partly in cash and partly in such Common Stock, or such other means which the Committee determines are
consistent with the Plan’s purpose and applicable law. Cash payments shall be made by wire transfer, certified or bank check
or personal check, in each case payable to the order of the Company; provided, however, that the Company shall not be required
to deliver certificates for shares of Common Stock with respect to which an Option is exercised until the Company has confirmed
the receipt of good and available funds in payment of the purchase price thereof (except that, in the case of an exercise arrangement
approved by the Committee and described in the next sentence of this section, payment
may be made as soon as practicable after the exercise). The Committee may permit a Holder to elect to
pay the exercise price upon the exercise of a Stock Option by irrevocably authorizing a third party to sell shares of Common Stock
(or a sufficient portion of the shares) acquired upon exercise of the Stock Option and remit to the Company a sufficient
portion of the sale proceeds to pay the entire exercise price and any tax withholding resulting from such exercise. The Committee
may also authorize other means for paying the exercise price of a Stock Option, including using the value of the Stock Option (as
determined by the difference in the Fair Market Value of the Common Stock and the exercise price of the Stock Option or other means
determined by the Committee).

 

     6

     

    

 

(e)       Stock
Payments. Payments in the form of Common Stock shall be
valued at the Fair Market Value on the date of exercise. Such payments shall be made by delivery of stock certificates in negotiable
form that are effective to transfer good and valid title thereto to the Company, free of any liens or encumbrances.

 

(f)       Transferability. Except
as may be set forth in the next sentence of this Section or in the Agreement, no Stock Option shall be transferable by the Holder
other than by will or by the laws of descent and distribution, and all Stock Options shall be exercisable, during the Holder’s
lifetime, only by the Holder (or, to the extent of legal incapacity or incompetency, the Holder’s
guardian or legal representative). Notwithstanding the foregoing, a Holder, with the approval of the Committee,
may transfer a Non-Qualified Stock Option (i) (A) by gift, for no consideration, or (B) pursuant to a domestic relations order,
in either case, to or for the benefit of the Holder’s “Immediate Family” (as defined below), or (ii) to an entity
in which the Holder and/or members of Holder’s Immediate Family own more than fifty percent of the voting interest, subject
to such limits as the Committee may establish and the execution of such documents as the Committee may require, and the transferee
shall remain subject to all the terms and conditions applicable to the Non-Qualified Stock Option prior to such transfer. The term
“Immediate Family” shall mean any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse,
sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law, including adoptive
relationships, any person sharing the Holder’s household (other than a tenant or employee), a trust in which these persons
have more than fifty percent beneficial interest, and a foundation in which these persons (or the Holder) control the management
of the assets. The Committee may, in its sole discretion, permit transfer of an Incentive Stock Option in a manner consistent with
applicable tax and securities law upon the Holder’s request.

 

(g)       Termination
by Reason of Death. If a Holder’s employment by,
or association with, the Company, Parent, Subsidiary or Affiliate terminates by reason of death, any Stock Option held by such
Holder, unless otherwise determined by the Committee and set forth in the Agreement, shall thereupon automatically terminate, except
that the portion of such Stock Option that has vested on the date of death may thereafter be exercised by the legal representative
of the estate or by the legatee of the Holder under the will of the Holder, for a period of one year
(or such other greater or lesser period as the Committee may specify in the Agreement) from the date of such death or until the
expiration of the stated term of such Stock Option, whichever period is shorter.

 

     7

     

    

 

(h)       Termination
by Reason of Disability. If a Holder’s employment
by, or association with, the Company, Parent, Subsidiary or Affiliate terminates by reason of Disability, any Stock Option held
by such Holder, unless otherwise determined by the Committee and set forth in the Agreement, shall thereupon automatically terminate,
except that the portion of such Stock Option that has vested on the date of termination may thereafter be exercised by the Holder
for a period of one year (or such other greater or lesser period as the Committee may specify in the
Agreement) from the date of such termination or until the expiration of the stated term of such Stock Option, whichever period
is shorter.

 

(i)       Termination
by Reason of Normal Retirement. Subject to the provisions
of Section 12.3, if such Holder’s employment by, or association with, the Company, Parent, Subsidiary or Affiliate terminates
due to Normal Retirement, any Stock Option held by such Holder, unless otherwise determined by the Committee and set forth in the
Agreement, shall thereupon automatically terminate, except that the portion of such Stock Option that has vested on the date of
termination may thereafter be exercised by the Holder for a period of one year in the case of a Non-Qualified Stock Option or three
months in the case of an Incentive Stock Option (or such other greater or lesser period as the Committee may specify in the Agreement)
from the date of such termination or until the expiration of the stated term of such Stock Option, whichever
period is shorter.

 

(j)       Other
Termination. Subject to the provisions of Section 12.3,
if such Holder’s employment by, or association with, the Company, Parent, Subsidiary or Affiliate terminates for any reason
other than death, Disability or Normal Retirement, any Stock Option held by such Holder, unless otherwise determined by the Committee
and set forth in the Agreement, shall thereupon automatically terminate, except that, if the Holder’s employment is terminated
by the Company, Parent, Subsidiary or Affiliate without cause, the portion of such Stock Option that has vested on the
date of termination may thereafter be exercised by the Holder for a period of three months (or such other greater or lesser
period as the Committee may specify in the Agreement) from the date of such termination or until the
expiration of the stated term of such Stock Option, whichever period is shorter.

 

(k)       Incentive
Stock Options. The aggregate Fair Market Value (on the date of grant of the Stock Option) of shares
of Common Stock with respect to which Incentive Stock Options become exercisable for the first time by a Holder during any calendar
year (under all such plans of the Company and its Parent and Subsidiaries) shall not exceed $100,000. To the extent that any Stock
Option intended to qualify as an Incentive Stock Option does not so qualify, including by reason
of the immediately preceding sentence, it shall constitute a separate Non-qualified Stock Option. The Company shall have
no liability to any Holder or any other person if a Stock Option designated as an Incentive Stock Option fails to qualify as such
at any time or if a Stock Option is determined to constitute “nonqualified deferred compensation” within the meaning
of Section 409A of the Code and the terms of such Stock Option do not satisfy the requirements of Section 409A of the Code.

 

(l)       Buyout
and Settlement Provisions. The Committee may at any time,
in its sole discretion, offer to repurchase a Stock Option previously granted, at a purchase price not to exceed the Repurchase
Value, based upon such terms and conditions as the Committee shall establish and communicate to the Holder at the time that such
offer is made.

 

(m)       Rights
as Shareholder. A Holder shall have none of the rights of a Shareholder with respect to the shares subject to the Option until
such shares shall be transferred to the Holder upon the exercise of the Option. 

 

     8

     

    

 

	Section 6.	Stock Appreciation Rights.

 

6.1.         Grant
and Exercise.  Subject to the terms and conditions of
the Plan, the Committee may grant Stock Appreciation Rights in tandem with an Option or alone and unrelated to an Option. The Committee
may grant Stock Appreciation Rights to participants who have been or are being granted Stock Options under the Plan as a means
of allowing such participants to exercise their Stock Options without the need to pay the exercise price in cash. In the case of
a Non-qualified Stock Option, a Stock Appreciation Right may be granted either at or after the
time of the grant of such Non-qualified Stock Option. In the case of an Incentive Stock Option, a Stock Appreciation Right
may be granted only at the time of the grant of such Incentive Stock Option.

 

6.2.         Terms
and Conditions. Stock Appreciation Rights shall be subject
to the following terms and conditions:

 

(a)       Exercisability. Stock
Appreciation Rights shall be exercisable as shall be determined by the Committee and set forth in the Agreement, subject, for Stock
Appreciation Rights granted in tandem with an Incentive Stock Option, to the limitations, if any, imposed by the Code with respect
to related Incentive Stock Options.

 

(b)       Termination. All
or a portion of a Stock Appreciation Right granted in tandem with a Stock Option shall terminate and shall no longer be exercisable
upon the termination or after the exercise of the applicable portion of the related Stock Option.

 

(c)       Method
of Exercise.  Stock Appreciation Rights shall be exercisable
upon such terms and conditions as shall be determined by the Committee and set forth in the Agreement and, for Stock Appreciation
Rights granted in tandem with a Stock Option, by surrendering the applicable portion of the related Stock Option. Upon exercise
of all or a portion of a Stock Appreciation Right and, if applicable, surrender of the applicable portion of the related Stock
Option, the Holder shall be entitled to receive a number of shares of Common Stock equal to the SAR Value divided by the Fair Market
Value on the date the Stock Appreciation Right is exercised or, at the Company’s election, cash for the value so calculated.

 

(d)       Shares
Available Under Plan. The granting of a Stock Appreciation Right in tandem with a Stock Option shall not affect the number
of shares of Common Stock available for awards under the Plan. The number of shares available for awards under the Plan will, however,
be reduced by the number of shares of Common Stock acquirable upon exercise of the Stock Option to which such Stock Appreciation
Right relates.

 

Section 7. Restricted Stock; Restricted Stock Units.

 

7.1.         Grant. Shares
of Restricted Stock may be awarded either alone or in addition to other awards granted under the Plan. The Committee shall determine
the eligible persons to whom, and the time or times at which, grants of Restricted Stock will be awarded, the number of shares
to be awarded, the price (if any) to be paid by the Holder, any Restriction Period, the vesting schedule
and rights to acceleration thereof, and all other terms and conditions of the awards. In
addition, the Committee may award Restricted Stock Units, which may be subject to vesting and forfeiture conditions during the
applicable Restriction Period, as set forth in an Agreement.

 

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7.2.         Restricted
Stock Terms and Conditions. Each Restricted Stock award
shall be subject to the following terms and conditions:

 

(a)       Certificates. Restricted
Stock, when issued, will be represented by a stock certificate or certificates registered in the name of the Holder to whom such
Restricted Stock shall have been awarded. During the Restriction Period, certificates representing the Restricted Stock and any
securities constituting Retained Distributions (as defined below) shall bear a legend to the effect that ownership of the
Restricted Stock (and such Retained Distributions) and the enjoyment of all rights appurtenant thereto are subject to the restrictions,
terms and conditions provided in the Plan and the Agreement. Such certificates shall be deposited by the Holder with the Company,
together with stock powers or other instruments of assignment, each endorsed in blank, which will permit transfer to the Company
of all or any portion of the Restricted Stock and any securities constituting Retained Distributions
that shall be forfeited or that shall not become vested in accordance with the Plan and the Agreement.

 

(b)       Rights
of Holder. Restricted Stock shall constitute issued and
outstanding shares of Common Stock for all corporate purposes. The Holder will have the right to vote such Restricted Stock and
to exercise all other rights, powers and privileges of a holder of Common Stock with respect to such Restricted Stock, with the
exceptions that (i) the Holder will not be entitled to delivery of the stock certificate or
certificates representing such Restricted Stock until the Restriction Period shall have expired and unless all other vesting requirements
with respect thereto shall have been fulfilled; (ii) the Company will retain custody of the stock certificate or certificates representing
the Restricted Stock during the Restriction Period; (iii) the Company will retain custody of all dividends and distributions (“Retained
Distributions”) made, paid or declared with respect to the Restricted Stock (and such Retained Distributions will be subject
to the same restrictions, terms and conditions as are applicable to the Restricted Stock) until such time, if ever, as the Restricted
Stock with respect to which such Retained Distributions shall have been made, paid or declared shall have become vested and with
respect to which the Restriction Period shall have expired; and (iv) a breach by the Holder of any of the restrictions, terms or
conditions contained in this Plan or the Agreement or otherwise established by the Committee with respect to any Restricted Stock
or Retained Distributions will cause a forfeiture of such Restricted Stock and any Retained Distributions with respect thereto.

 

(c)       Vesting;
Forfeiture. Upon the expiration of the Restriction Period
with respect to each award of Restricted Stock and the satisfaction of any other applicable restrictions, terms and conditions
(i) all or part of such Restricted Stock shall become vested in accordance with the terms of the Agreement, and (ii) any Retained
Distributions with respect to such Restricted Stock shall become vested to the extent that the Restricted
Stock related thereto shall have become vested. Any such Restricted Stock and Retained Distributions that do not vest shall be
forfeited to the Company and the Holder shall not thereafter have any rights with respect to such Restricted Stock and Retained
Distributions that shall have been so forfeited.

  

     10

     

    

 

7.3.         Restricted
Stock Units Terms and Conditions. Each Restricted Stock
Units award shall be subject to the following terms and conditions:

 

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

 

(b)       Stockholder
Rights. A Holder will have no rights of a holder of Common Stock with respect to shares subject to any Restricted Stock Unit
unless and until the shares are delivered in settlement of the Restricted Stock Unit.

 

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

 

	Section 8.	Other Stock-Based Awards.

 

Other Stock-Based Awards may be awarded,
subject to limitations under applicable law, that are denominated or payable in, valued in whole or
in part by reference to, or otherwise based on or related to, shares of Common Stock, as deemed by the Committee to be consistent
with the purposes of the Plan, including, without limitation, purchase rights, shares of Common Stock awarded which are not subject
to any restrictions or conditions, convertible or exchangeable debentures, or other rights convertible into shares of Common Stock
and awards valued by reference to the value of securities of or the performance of specified Subsidiaries. These Other Stock-Based
Awards may include performance shares or options, whose award is tied to specific performance goals. Other Stock-Based Awards may
be awarded either alone or in addition to or in tandem with any other awards under this Plan or any
other plan of the Company. Each Other Stock-Based Award shall be subject to such terms and conditions as may be determined by the
Committee.

 

	Section 9.	Accelerated
Vesting and Exercisability.

 

9.1.       Non-Approved
Transactions.  If there is a Change of Control, and
the Board does not authorize or otherwise approve such transaction, then the vesting periods of any and all Stock Options and other
awards granted and outstanding under the Plan shall be accelerated and all such Stock Options and awards will immediately and entirely
vest, and the respective holders thereof will have the immediate right to purchase and/or receive
any and all Common Stock subject to such Stock Options and awards on the terms set forth in this Plan and the respective Agreements
respecting such Stock Options and awards, and all performance goals will be deemed achieved at 100% of target levels and all other
terms and conditions will be deemed met. 

 

9.2.       Approved
Transactions.  In the event
of an Asset Sale or if there is a Change of Control that has been approved by the Company’s
Board of Directors, then the Committee may (i) accelerate the vesting of any and all Stock Options and other awards granted and
outstanding under the Plan; (ii) require a Holder of any Stock Option, Stock Appreciation Right, Restricted Stock award or Other
Stock-Based Award granted under this Plan to relinquish such award to the Company upon the tender by the Company to Holder of cash,
stock or other property, or any combination thereof, in an amount equal to the Repurchase Value of such award; provided, however,
that the obligation to tender the Repurchase Value to such Holders may be subject to any terms and conditions to which the tender
of consideration to the Company’s stockholders in connection with the acquisition is subject, including any terms and conditions
of the acquisition providing for an adjustment to or escrow of such consideration; and provided, further, that in the case of any
Stock Option or Stock Appreciation Right with an exercise price that equals or exceeds the price paid for a share of Common Stock
in connection with the acquisition, the Committee may cancel the Stock Option or Stock Appreciation Right without the payment of
consideration therefor; and/or (iii) terminate all incomplete performance periods in respect of awards in effect on the date the
acquisition occurs, determine the extent to which performance goals have been met based upon such information then available as
it deems relevant and cause to be paid to the Holder all or the applicable portion of the award based upon the Committee’s
determination of the degree of attainment of performance goals, or on such other basis determined by the Committee.

 

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9.3.       Code
Section 409A. Notwithstanding any provisions of this Plan
or any award granted hereunder to the contrary, no acceleration shall occur with respect to any award
to the extent such acceleration would cause the Plan or an award granted hereunder to fail to comply with Code Section 409A.

 

	Section 10.	Amendment and Termination.

 

The Board may at any time, and from time
to time, amend alter, suspend or discontinue any of the provisions of the Plan or any Agreement, but no amendment, alteration,
suspension or discontinuance shall be made that would impair the rights of a Holder under any Agreement
theretofore entered into hereunder, without the Holder’s consent, except as set forth in this Plan or the Agreement. Notwithstanding
anything to the contrary herein, no amendment to the provisions of the Plan shall be effective unless approved by the shareholders
of the Company to the extent shareholder approval is necessary to satisfy any provision of the Code or other applicable law or
the listing requirements of any national securities exchange on which the Company’s securities are listed.

 

	Section 11.	Term of Plan.

 

11.1.       Effective
Date.  The Effective Date of the Plan shall be [●],
subject to the approval of the Plan by the Company’s shareholders within one year after the Effective Date. Only Stock Options
may be granted under the Plan prior to such approval of the Plan by the Company’s shareholders; provided, however,
that if the Plan is not approved by the affirmative vote of the holders of a majority of the Common Stock within one year from
the Effective Date, then (i) no Incentive Stock Options may be granted hereunder and (ii) all Incentive Stock Options previously
granted hereunder shall be automatically converted into Non-qualified Stock Options.

 

11.2.       Termination
Date. Unless terminated by the Board, this Plan shall
continue to remain effective until such time as no further awards may be granted and all awards granted
under the Plan are no longer outstanding. Notwithstanding the foregoing, grants of Incentive Stock Options may be made only during
the ten-year period beginning on the Effective Date.

 

	Section 12.	General Provisions.

 

12.1.       Written
Agreements. Each award granted
under the Plan shall be confirmed by, and shall be subject to the terms of, the Agreement executed by the Company and the Holder,
or such other document as may be determined by the Committee. The Committee may terminate any award made under the Plan if the
Agreement relating thereto is not executed and returned to the Company within 10 days after the
Agreement has been delivered to the Holder for his or her execution.

 

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12.2.       Unfunded
Status of Plan. The Plan is intended to constitute an
“unfunded” plan for incentive and deferred compensation. With respect to any payments not
yet made to a Holder by the Company, nothing contained herein shall give any such Holder any rights that are greater than those
of a general creditor of the Company.

 

12.3.       Employees.

 

(a)       Engaging
in Competition With the Company; Solicitation of Customers and Employees; Disclosure of Confidential Information.
If a Holder’s employment with the Company, Parent, Subsidiary or Affiliate is terminated for any reason whatsoever, and Holder
(i) within three months after the date thereof, accepts employment with any competitor of, or otherwise engages in competition
with, the Company, Parent, Subsidiary or Affiliate, (ii) within two years after the date thereof, solicits any customers or employees
of the Company, Parent, Subsidiary or Affiliate to do business with or render services to the Holder or any business with which
the Holder becomes affiliated or to which the Holder renders services or (iii) at any time uses or discloses to anyone outside
the Company any confidential information of the Company, Parent, Subsidiary or Affiliate in violation of the Company’s policies
or any agreement between the Holder and the Company, Parent, Subsidiary or Affiliate, the Committee, in its sole discretion, may
require such Holder to return (through the payment of cash, return and transfer to the Company of shares of Common Stock or by
other methods determined by the Committee) to the Company the economic value of any award that was realized or obtained by such
Holder at any time during the period beginning on the date that is six months prior to the date such Holder’s employment
with the Company is terminated; provided, however, that if the Holder is a resident of the State of
California, such right must be exercised by the Company for cash within six months after the date of termination of the Holder’s
service to the Company or within six months after exercise of the applicable Stock Option, whichever is later. In such event,
Holder agrees to (1) remit to the Company, in cash, an amount equal to the difference between the Fair Market Value of the shares
subject to the award on the date of termination (or the sales price of such Shares if the Shares were sold during such six month
period) and the price the Holder paid the Company for such shares, or (2) in the case of SARs, shall, at the Company’s election,
return the full amount paid to the Holder in connection therewith.

 

(b)       Termination
for Cause. If a Holder’s employment with the Company,
Parent, subsidiary or Affiliate is terminated for cause, the Committee may, in its sole discretion,
require such Holder to return to the Company the economic value of any award that was realized or obtained by such Holder at any
time during the period beginning on that date that is six months prior to the date such Holder’s employment with
the Company is terminated. In such event, Holder agrees to (1) remit to the Company, in cash, an amount equal to the difference
between the Fair Market Value of the shares on the date of termination (or the sales price of such Shares if the shares were sold
during such six month period) and the price the Holder paid the Company for such shares, (2) with the consent of the Company,
which may be withheld for any reason or no reason, surrender to the Company shares of Common Stock having Fair Market Value equal
to the Fair Market Value on the date they were acquired upon exercise of the Option or (3) in
the case of SARs, shall return the full amount paid to the Holder in connection therewith.

 

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(c)       No
Right of Employment. Nothing contained in the Plan or
in any award hereunder shall be deemed to confer upon any Holder who is an employee of the Company, Parent, Subsidiary
or Affiliate any right to continued employment with the Company, Parent, Subsidiary or Affiliate, nor shall it interfere in any
way with the right of the Company, Parent, Subsidiary or Affiliate to terminate the employment of any Holder who is an employee
at any time.

 

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

 

12.5.       Provisions
for Foreign Participants. The Committee may modify awards granted to Holders who are foreign nationals or employed outside
the United States or establish subplans or procedures under the Plan to address differences in laws, rules, regulations or customs
of such foreign jurisdictions with respect to tax, securities, currency, employee benefit or other matters.

 

12.6.       Limitations
on Liability. 

 

(a)       Notwithstanding
any other provisions of the Plan, no individual acting as a director, officer, other employee or agent of the Company or any Subsidiary,
Parent or Affiliate will be liable to any Holder, former Holder, spouse, beneficiary, or any other person for any claim, loss,
liability, or expense incurred in connection with the Plan or any award, and such individual will not be personally liable with
respect to the Plan because of any contract or other instrument executed in his or her capacity as member of the Committee, director,
officer, other employee or agent of the Company or any Subsidiary, Parent or Affiliate. The Company will indemnify and hold harmless
each director, officer, other employee and agent of the Company or any Subsidiary, Parent or Affiliate that has been or will be
granted or delegated any duty or power relating to the Plan’s administration or interpretation, against any cost or expense
(including attorneys’ fees) or liability (including any sum paid in settlement of a claim with the Committee’s approval)
arising from any act or omission concerning this Plan unless arising from such person’s own fraud or bad faith. 

 

(b)       Neither
the Company nor any Subsidiary shall be liable to a Holder or any other person as to: (i) the non-issuance or sale of shares as
to which the Company has been unable to obtain from any regulatory body having jurisdiction the authority deemed by the Company’s
counsel to be necessary to the lawful issuance and sale of any shares hereunder; and (ii) any tax consequence expected, but not
realized, by any Holder or other person due to the receipt, exercise or settlement of any Award granted hereunder.

 

12.7.       Lock-Up
Period. The Company may, at the request of any underwriter, placement agent or otherwise, in connection with the registered
offering of any Company securities under the Securities Act or pursuant to an exemption therefrom, prohibit Holders from, directly
or indirectly, selling or otherwise transferring any shares or other Company securities acquired under this Plan during a period
of up to one hundred eighty days following either the effective date of a Company registration statement filed under the Securities
Act, in the case of a registered offering, or the closing date of the sale of the Company securities, in the case of an offering
exempt from registration, or for such longer period as determined by the underwriter or placement agent.

 

     14

     

    

 

12.8.       Data
Privacy. As a condition for receiving any award, each Holder explicitly and unambiguously consents to the collection, use and
transfer, in electronic or other form, of personal data as described in this paragraph by and among the Company and its Parent,
Subsidiaries and Affiliates exclusively for implementing, administering and managing the Holder’s participation in the Plan.
The Company and its Parent, Subsidiaries and Affiliates may hold certain personal information about a Holder, including the Holder’s
name, address and telephone number; birthdate; social security, insurance number or other identification number; salary; nationality;
job title(s); any shares held in the Company or its Parent, Subsidiaries and Affiliates; and award details, to implement, manage
and administer the Plan and awards (the “Data”). The Company and its Parent, Subsidiaries and Affiliates may transfer
the Data amongst themselves as necessary to implement, administer and manage a Holder’s participation in the Plan, and the
Company and its Parent, Subsidiaries and Affiliates may transfer the Data to third parties assisting the Company with Plan implementation,
administration and management. These recipients may be located in the Holder’s country, or elsewhere, and the Holder’s
country may have different data privacy laws and protections than the recipients’ country. By accepting an award, each Holder
authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, to implement, administer
and manage the Holder’s participation in the Plan, including any required Data transfer to a broker or other third party
with whom the Company or the Holder may elect to deposit any shares. The Data related to a Holder will be held only as long as
necessary to implement, administer, and manage the Holder’s participation in the Plan. A Holder may, at any time, view the
Data that the Company holds regarding such Holder, request additional information about the storage and processing of the Data
regarding such Holder, recommend any necessary corrections to the Data regarding the Holder or refuse or withdraw the consents
in this Section 12.8 in writing, without cost, by contacting the local human resources representative. The Company may cancel Holder’s
ability to participate in the Plan and, in the Committee’s discretion, the Holder may forfeit any outstanding awards if the
Holder refuses or withdraws the consents in this Section 12.8. For more information on the consequences of refusing or withdrawing
consent, Holders may contact their local human resources representative.

 

12.9.       Successor.
The obligations of the Company under the Plan shall be binding upon any successor corporation or organization resulting from the
merger, consolidation or other reorganization of the Company, or upon any successor corporation or organization succeeding to all
or substantially all of the assets and business of the Company and its Subsidiaries, taken as a whole.

 

12.10.       Investment
Representations; Company Policy. The Committee may require
each person acquiring shares of Common Stock pursuant to a Stock Option or other award under the Plan to represent to and agree
with the Company in writing that the Holder is acquiring the shares for investment without a view to
distribution thereof. Each person acquiring shares of Common Stock pursuant to a Stock Option or other award under the Plan shall
be required to abide by all policies of the Company in effect at the time of such acquisition and thereafter with respect to the
ownership and trading of the Company’s securities.

 

12.11.       Additional
Incentive Arrangements. Nothing contained in the Plan
shall prevent the Board from adopting such other or additional incentive arrangements as it may deem
desirable, including, but not limited to, the granting of Stock Options and the awarding of Common Stock and cash otherwise than
under the Plan; and such arrangements may be either generally applicable or applicable only in specific cases.

 

     15

     

    

 

12.12.       Withholding
Taxes. Not later than the date as of which an amount must
first be included in the gross income of the Holder for Federal income tax purposes with respect to any Stock Option or other award
under the Plan, the Holder shall pay to the Company, or make arrangements satisfactory to the Committee
regarding the payment of, any Federal, state and local taxes of any kind required by law to be withheld or paid with respect to
such amount. If permitted by the Committee, tax withholding or payment obligations may be settled with Common Stock, including
Common Stock that is part of the award that gives rise to the withholding requirement. The obligations
of the Company under the Plan shall be conditioned upon such payment or arrangements and the Company or the Holder’s employer
(if not the Company) shall, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind
otherwise due to the Holder from the Company or any Subsidiary.

 

12.13.       Clawback.
Notwithstanding any other provisions of the Plan, any award which is subject to recovery under any law, government regulation or
listing requirement of any national securities exchange on which the Company’s securities are listed, will be subject to
such deductions and clawback as may be required to be made pursuant to such law, government regulation or listing requirement (or
any policy adopted by the Company pursuant to any such law, government regulation or listing requirement).

 

12.14.       Governing
Law. The Plan and all awards made
and actions taken thereunder shall be governed by and construed in accordance with the law of
the State of Delaware (without regard to choice of law provisions).

 

12.15.       Other
Benefit Plans. Any award granted under the Plan shall
not be deemed compensation for purposes of computing benefits under any retirement plan of the Company
or any Parent, Subsidiary or Affiliate and shall not affect any benefits under any other benefit
plan now or subsequently in effect under which the availability or amount of benefits is related to the level of compensation (unless
required by specific reference in any such other plan to awards under this Plan).

 

12.16.       Non-Transferability. Except
as otherwise expressly provided in the Plan or the Agreement, no right or benefit under the Plan may be alienated,
sold, assigned, hypothecated, pledged, exchanged, transferred, encumbranced or charged, and any
attempt to alienate, sell, assign, hypothecate, pledge, exchange, transfer, encumber or charge the same shall be void.

 

12.17.       Applicable
Laws. The obligations of the
Company with respect to all Stock Options and other awards under the Plan shall be subject to
(i) all applicable laws, rules and regulations and such approvals by any governmental agencies as may be required, including, without
limitation, the Securities Act, and (ii) the rules and regulations of any securities exchange on which the Common Stock may be
listed. Notwithstanding anything herein to the contrary, the Plan and all awards will be administered only in conformance
with such applicable laws. To the extent such applicable laws permit, the Plan and all Agreements will be deemed amended as necessary
to conform to such applicable laws.

 

12.18.       Conflicts. If
any of the terms or provisions of the Plan or an Agreement conflict with the requirements of Section
422 of the Code, then such terms or provisions shall be deemed inoperative to the extent they so conflict with such requirements.
Additionally, if this Plan or any Agreement does not contain any provision required to be included herein under Section 422 of
the Code, such provision shall be deemed to be incorporated herein and therein with the same force and effect as if such provision
had been set out at length herein and therein. If any of the terms or provisions of any Agreement conflict with
any terms or provisions of the Plan, then such terms or provisions shall be deemed inoperative to the extent they so conflict with
the requirements of the Plan. Additionally, if any Agreement does not contain any provision required to be included therein under
the Plan, such provision shall be deemed to be incorporated therein with the same force and effect as if such provision had been
set out at length therein.

 

     16

     

    

 

12.19.       Compliance
with Section 409A of the Code. The Company intends that
any awards be structured in compliance with, or to satisfy an exemption from, Section 409A of the Code, such that there are no
adverse tax consequences, interest, or penalties pursuant to Section 409A of the Code as a result of the awards.
Notwithstanding the Company’s intention, in the event any award is subject to Section 409A of the Code, the Committee may,
in its sole discretion and without a participant’s prior consent, amend this Plan and/or outstanding Agreements, adopt policies
and procedures, or take any other actions (including amendments, policies, procedures and actions with retroactive effect) as are
necessary or appropriate to (i) exempt this Plan and/or any award from the application of Section 409A of the Code,
(ii) preserve the intended tax treatment of any such award, or (iii) comply with the requirements of Section 409A of the Code,
including without limitation any such regulations guidance, compliance programs and other interpretive authority that may be issued
after the date of grant of an award. This Plan shall be interpreted at all times in such a manner that the terms and provisions
of the Plan and the awards are exempt from or comply with Section 409A of the Code.

 

12.20.       Sub-Plans.
The Committee may from time to time establish sub-plans under the Plan for purposes of satisfying blue sky, securities, tax or
other laws of various jurisdictions in which the Company intends to grant awards. Any sub-plans shall contain such limitations
and other terms and conditions as the Committee determines are necessary or desirable. All sub-plans shall be deemed a part of
the Plan, but each sub-plan shall apply only to the participants in the jurisdiction for which the sub-plan was designed.

 

12.21.       Non-Registered
Stock. The shares of Common Stock to be distributed under
this Plan have not been, as of the Effective Date, registered under the Securities Act or any applicable
state or foreign securities laws and the Company has no obligation to any Holder to register the Common Stock or to assist the
Holder in obtaining an exemption from the various registration requirements, or to list the Common Stock on a national securities
exchange or any other trading or quotation system.

 

12.22.       Non-Uniform
Treatment. The Committee’s determinations under the Plan need not be uniform and may be made by it selectively among
persons who are eligible to receive, or actually receive, awards. Without limiting the generality of the foregoing, the Committee
shall be entitled to make non-uniform and selective determinations, amendments and adjustments, and to enter into non-uniform and
selective Agreements.

 

     17

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