Document:

EXHIBIT
10.1

 

WEWIN
GROUP CORP 

2018
EMPLOYEE, DIRECTOR AND CONSULTANT STOCK PLAN 

 

1.
DEFINITIONS.

 

Unless
otherwise specified or unless the context otherwise requires, the following terms, as used in this WeWin Group Corp 2018 Employee,
Director and Consultant Stock Plan, have the following meanings:

 

	(a)	“Administrator” means the
    Board, unless it has delegated power to act on its behalf to the Committee, in which case the Administrator means the Committee.
    

 

	(b)	“Affiliate” means a corporation
    or other entity controlled by the Company and designated by the Administrator as such. 

 

	(c)	“Award” means a Stock Appreciation
    Right, Stock Option or Stock Award. 

 

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

 

	(e)	“Cause”
    shall include (and is not limited to) dishonesty with respect to the Company or any Affiliate, substantial malfeasance or
    non-feasance of duty, unauthorized disclosure of confidential information, breach by the Participant of any provision of any
    employment, consulting, advisory, nondisclosure, non-competition or similar agreement between the Participant and the Company
    or any Affiliate, and conduct substantially prejudicial to the business of the Company or any Affiliate. The determination
    of Cause shall be made by the Administrator in its sole discretion. Cause is not limited to events which have occurred prior
    to a Participant’s termination of employment or services, nor is it necessary that the Administrator’s finding
    of Cause occur prior to the termination of employment or services. If the Administrator determines, subsequent to a Participant’s
    termination of employment or services but prior to the vesting of a Stock Option, Stock Appreciation Right or Stock Award
    or exercise of a Stock Option or Stock Appreciation Right, that either prior or subsequent to the Participant’s termination
    of employment or services the Participant engaged in conduct which would constitute Cause, then the unvested Stock Option,
    Stock Appreciation Right or Stock Award, as applicable, is immediately cancelled and any vested Stock Options or Stock Appreciation
    Rights cease to be exercisable. Notwithstanding the foregoing, if the Participant and the Company or an Affiliate have entered
    into an employment or services agreement which defines the term “Cause” (or a similar term) which is in effect
    at the time of termination, such definition shall govern for purposes of determining whether such Participant has been terminated
    for Cause for purposes of this Plan. 

 

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

 

	(g)	“Commission” means the Securities
    and Exchange Commission or any successor agency. 

 

	(h)	“Committee” means a committee
    of Directors appointed by the Board to administer this Plan. With respect to Stock Options granted at the time the Company
    is publicly held, if any, insofar as the Committee is responsible for granting Stock Options to Participants hereunder, it
    shall consist solely of two or more directors, each of whom is a “Non-Employee Director” within the meaning of
    Rule 16b-3 and each of whom is also an “outside director” under Section 162(m) of the Code. 

 

	(i)	“Company” means We Win Group
    Corp, a Nevada corporation. 

 

	(j)	“Director” means a member
    of the Company’s Board of Directors. 

 

	(k)	“Disability” or “Disabled”
    means mental or physical illness that entitles the Participant to receive benefits under the long-term disability plan
    of the Company or an Affiliate, or if the Participant is not covered by such a plan or the Participant is not an employee
    of the Company or an Affiliate, a medically determinable physical or mental impairment which can be expected to result in
    death or which has lasted or can be expected to last for a continuous period of not less than twelve months, and which renders
    the Participant unable to engage in any substantial gainful activity; provided, however, that a Disability shall not qualify
    under this Plan if it is the result of (i) a willfully self-inflicted injury or willfully self-induced sickness; or (ii) an
    injury or disease contracted, suffered or incurred while participating in a criminal offense.

 

    	 

    	 

    

 

	 	Notwithstanding
    the foregoing, if the Participant and the Company or an Affiliate have entered into an employment or services agreement which
    defines the term “Disability” (or a similar term), such definition shall govern for purposes of determining whether
    such Participant suffers a Disability for purposes of this Plan. The Administrator shall make the determination both of whether
    Disability has occurred and the date of its occurrence (unless a procedure for such determination is set forth in another
    agreement between the Company and such Participant, in which case such procedure shall be used for such determination). If
    requested, the Participant shall be examined by a physician selected or approved by the Administrator, the cost of which examination
    shall be paid for by the Company. The determination of Disability for purposes of this Plan shall not be construed to be an
    admission of disability for any other purpose. 

 

	(l)	“Effective Time” means the
    date of adoption of the Plan by the Company’s Board. 

 

	(m)	“Eligible Individual” means
    any officer, employee or director of the Company or an Affiliate, or any consultant or advisor providing services to the Company
    or an Affiliate. 

 

	(n)	“Exchange Act” means the
    Securities Exchange Act of 1934, as amended from time to time, and any successor thereto. 

 

	(o)	“Fair Market Value” means,
    as of any given date, the fair market value of the Stock as determined by the Administrator or under procedures established
    by the Administrator and in accordance with Section 409A of the Code. 

 

	(p)	“Family Member” means 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 of a Participant (including adoptive relationships);
    any person sharing the Participant’s household (other than a tenant or employee); any trust in which the Participant
    and any of these persons have substantially all of the beneficial interest; any foundation in which the Participant and any
    of these persons control the management of the assets; any corporation, partnership, limited liability company or other entity
    in which the Participant and any of these other persons are the direct and beneficial owners of substantially all of the equity
    interests (provided the Participant and these other persons agree in writing to remain the direct and beneficial owners of
    all such equity interests); and any personal representative of the Participant upon the Participant’s death for purposes
    of administration of the Participant’s estate or upon the Participant’s incompetency for purposes of the protection
    and management of the assets of the Participant. 

 

	(q)	“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. 

 

	(r)	“Non-Employee Director” means
    a Director who is not an officer or employee of the Company or any Affiliate. 

 

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

 

	(t)	“Optionee” means a person
    who holds a Stock Option. 

 

	(u)	“Participant” means a person
    granted an Award. 

 

	(v)	“Plan” means this WeWin Group
    Corp 2018 Employee, Director and Consultant Stock Plan. 

 

	(w)	“Representative” means (i) the
    person or entity acting as the executor or administrator of a Participant’s estate pursuant to the last will and testament
    of a Participant or pursuant to the laws of the jurisdiction in which the Participant had his or her primary residence at
    the date of the Participant’s death; (ii) the person or entity acting as the guardian or temporary guardian of
    a Participant; (iii) the person or entity which is the beneficiary of the Participant upon or following the Participant’s
    death; or (iv) any person to whom a Stock Option has been transferred with the permission of the Administrator or by
    operation of law; provided that only one of the foregoing shall be the Representative at any point in time as determined under
    applicable law and recognized by the Administrator. 

 

	(x)	“Stock” means shares of the
    Company’s common stock. 

 

	(y)	“Stock Appreciation Right”
    means a right granted under Section 6. 

 

	(z)	“Stock Award” means an Award,
    other than a Stock Option or Stock Appreciation Right, made in Stock or denominated in shares of Stock. A Stock Award may
    be settled in Stock or cash, as determined in the discretion of the Administrator. 

 

    	 

    	 

    

 

	(aa)	“Stock Option” means an option
    granted under Section 5. 

 

	(bb)	“Subsidiary” means any company
    during any period in which it is a “subsidiary corporation” (as such term is defined in Section 424(f) of
    the Code) with respect to the Company. 

 

	(cc)	“Ten Percent Holder” means
    an individual who owns, or is deemed to own, stock possessing more than 10% of the total combined voting power of all classes
    of Stock of the Company or of any parent or subsidiary corporation of the Company determined pursuant to the rules applicable
    to Section 422(b)(6) of the Code. 

 

2.
ESTABLISHMENT AND PURPOSE. 

 

The
Plan is established by the Company to attract and retain persons eligible to participate in the Plan, motivate Participants to
achieve long-term Company goals, and further align Participants’ interests with those of the Company’s other stockholders.
The Plan is adopted as of the Effective Time, subject to approval by the Company’s stockholders within 12 months before
or after such adoption date. Unless the Plan is discontinued earlier by the Board as provided herein, no Award shall be granted
hereunder on or after the date 10 years after the effective date.

 

3.
ADMINISTRATION; ELIGIBILITY. 

 

The
Plan shall be administered by the Administrator; provided, however, that, if at any time no Committee shall be in office, the
Plan shall be administered by the Board. The Plan may be administered by different Committees with respect to different groups
of Eligible Individuals.

 

The
Administrator shall have plenary authority to grant Awards pursuant to the terms of the Plan to Eligible Individuals; provided,
however, that each Eligible Individual must be an officer, employee, director or consultant of the Company or of an Affiliate
at the time the Award is granted. Notwithstanding the foregoing, the Administrator may authorize the grant of an Award to a person
not then an officer, employee, director or consultant of the Company or of an Affiliate; provided, however, that the actual grant
of such Award shall be conditioned upon such person becoming an Eligible Individual at or prior to the time the Award is granted.
Participation shall be limited to such persons as are selected by the Administrator. The granting of any Award to any individual
shall neither entitle that individual to, nor disqualify such individual from, participation in any other Awards.

 

Awards
may be granted as alternatives to, in exchange or substitution for, or replacement of, awards outstanding under the Plan or any
other plan or arrangement of the Company or an Affiliate (including a plan or arrangement of a business or entity, all or a portion
of which is acquired by the Company or an Affiliate). The provisions of Awards need not be the same with respect to each Participant.

 

Among
other things, the Administrator shall have the authority, subject to the terms of the Plan:

 

	(a)	to select the Eligible Individuals to whom Awards
    may from time to time be granted; 

 

	(b)	to determine whether and to what extent Stock
    Options, Stock Appreciation Rights, Stock Awards or any combination thereof are to be granted hereunder; 

 

	(c)	to determine the number of shares of Stock to
    be covered by each Award granted hereunder; 

 

	(d)	to approve forms of agreement for use under
    the Plan; 

 

	(e)	to determine the terms and conditions, not inconsistent
    with the terms of this Plan, of any Award granted hereunder (including, but not limited to, the option price, any vesting
    restriction or limitation, any vesting acceleration or forfeiture waiver and any right of repurchase, right of first refusal
    or other transfer restriction regarding any Award and the shares of Stock relating thereto, based on such factors or criteria
    as the Administrator shall determine); 

 

	(f)	subject to Section 8(a), to modify, amend
    or adjust the terms and conditions of any Award, at any time or from time to time, including, but not limited to, with respect
    to (i) performance goals and targets applicable to performance-based Awards pursuant to the terms of the Plan and (ii) extension
    of the post-termination exercisability period of Stock Options; 

 

	(g)	to determine to what extent and under what circumstances
    Stock and other amounts payable with respect to an Award shall be deferred; 

 

    	 

    	 

    

 

	(h)	to adopt any sub-plans applicable to residents
    of any specified jurisdiction as it deems necessary or appropriate in order to comply with or take advantage of any tax laws
    applicable to the Company or to Participants or to otherwise facilitate the administration of the Plan, which sub-plans may
    include additional restrictions or conditions applicable to Stock Options or Shares acquired upon the exercise of Stock Options;
    

 

	(i)	to determine the Fair Market Value; and 

 

	(j)	to determine the type and amount of consideration
    to be received by the Company for any Stock Award issued under Section 7. 

 

The
Administrator 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 any agreement relating thereto) and to otherwise supervise the administration of the Plan.

 

Except
to the extent prohibited by applicable law, the Administrator may allocate all or any portion of its responsibilities and powers
to any one or more of its members and may delegate all or any portion of its responsibilities and powers to any other person or
persons selected by it. Any such allocation or delegation may be revoked by the Administrator at any time. The Administrator may
authorize any one or more of their members or any officer of the Company to execute and deliver documents on behalf of the Administrator.

 

Any
determination made by the Administrator or pursuant to delegated authority pursuant to the provisions of the Plan with respect
to any Award shall be made in the sole discretion of the Administrator or such delegate at the time of the grant of the Award
or, unless in contravention of any express term of the Plan, at any time thereafter. All decisions made by the Administrator or
any appropriately delegated officer pursuant to the provisions of the Plan shall be final and binding on all persons, including
the Company and Participants, unless otherwise determined by the Board if the Administrator is the Committee.

 

No
member of the Administrator, and no officer of the Company, shall be liable for any action taken or omitted to be taken by such
individual or by any other member of the Administrator or officer of the Company in connection with the performance of duties
under this Plan, except for such individual’s own willful misconduct or as expressly provided by law.

 

4.
STOCK SUBJECT TO PLAN.

 

Subject
to adjustment as provided in this Section 4, the aggregate number of shares of Stock which may be delivered under the Plan
shall not exceed a number equal to 10% of the total number of shares of Stock outstanding immediately following the Effective
Time, assuming for this purpose the conversion into Stock of all outstanding securities that are convertible by their terms (directly
or indirectly) into Stock; provided, however, that, as of January 1 of each calendar year, commencing with the year
2019, the maximum number of shares of Stock which may be delivered under the Plan shall automatically increase by a number sufficient
to cause the number of shares of Stock covered by the Plan to equal 10% of the total number of shares of Stock then outstanding,
assuming for this purpose the conversion into Stock of all outstanding securities that are convertible by their terms (directly
or indirectly) into Stock.

 

To
the extent any shares of Stock covered by an Award are not delivered to a Participant or beneficiary thereof because the Award
expires, is forfeited, canceled or otherwise terminated, or the shares of Stock are not delivered because the Award is settled
in cash or used to satisfy the applicable tax withholding obligation, such shares shall not be deemed to have been delivered for
purposes of determining the maximum number of shares of Stock available for delivery under the Plan.

 

In
the event of any Company stock dividend, stock split, combination or exchange of shares, recapitalization or other change in the
capital structure of the Company, corporate separation or division of the Company (including, but not limited to, a split-up,
spin-off, split-off or distribution to Company stockholders other than a normal cash dividend), sale by the Company of all or
a substantial portion of its assets (measured on either a stand-alone or consolidated basis), reorganization, rights offering,
partial or complete liquidation, or any other corporate transaction, Company share offering or other event involving the Company
and having an effect similar to any of the foregoing, the Administrator may make such substitution or adjustments in the (A) number
and kind of shares that may be delivered under the Plan, (B) additional maximums imposed in the immediately preceding paragraph,
(C) number and kind of shares subject to outstanding Awards, (D) exercise price of outstanding Stock Options and Stock
Appreciation Rights and (E) other characteristics or terms of the Awards as it may determine appropriate in its sole discretion
to equitably reflect such corporate transaction, share offering or other event; provided, however, that the number of shares subject
to any Award shall always be a whole number.

 

    	 

    	 

    

 

5.
STOCK OPTIONS.

 

Stock
Options may be granted alone or in addition to other Awards granted under the Plan and may be of two types: Incentive Stock Options
and Non-Qualified Stock Options. Any Stock Option granted under the Plan shall be in such form as the Administrator may from time
to time approve.

 

The
Administrator shall have the authority to grant any Participant Incentive Stock Options, Non-Qualified Stock Options or both types
of Stock Options (in each case with or without Stock Appreciation Rights). Incentive Stock Options may be granted only to employees
of the Company and its Subsidiaries. To the extent that any Stock Option is not designated as an Incentive Stock Option or, even
if so designated, does not qualify as an Incentive Stock Option, it shall constitute a Non-Qualified Stock Option. Incentive Stock
Options may be granted only within 10 years from the date the Plan is adopted, or the date the Plan is approved by the Company’s
stockholders, whichever is earlier.

 

Stock
Options shall be evidenced by option agreements, each in a form approved by the Administrator. An option agreement shall indicate
on its face whether it is intended to be an agreement for an Incentive Stock Option or a Non-Qualified Stock Option. The grant
of a Stock Option shall occur as of the date the Administrator determines.

 

Anything
in the Plan to the contrary notwithstanding, no term of the Plan relating to Incentive Stock Options shall be interpreted, amended
or altered, nor shall any discretion or authority granted under the Plan be exercised, so as to disqualify the Plan under Section 422
of the Code or, without the consent of the Optionee affected, to disqualify any Incentive Stock Option under Section 422
of the Code.

 

Stock
Options granted under this Section 5 shall be subject to the following terms and conditions and shall contain such additional
terms and conditions as the Administrator shall deem desirable.

 

	(a)	Exercise Price. The exercise price per
    share of Stock purchasable under a Stock Option shall be determined by the Administrator; provided, however, that the exercise
    price per share shall be not less than the Fair Market Value per share on the date the Stock Option is granted, or if the
    Stock Option is intended to qualify as an Incentive Stock Option and is granted to an individual who is a Ten Percent Holder,
    not less than 110% of such Fair Market Value per share. 

 

	(b)	Shares. Each option agreement shall state
    the number of shares to which it pertains. 

 

	(c)	Option Term. The term of each Stock Option
    shall be fixed by the Administrator, but no Incentive Stock Option shall be exercisable more than 10 years (or five years
    in the case of an individual who is a Ten Percent Holder) after the date the Incentive Stock Option is granted. 

 

	(d)	Exercisability. Except as otherwise provided
    herein, Stock Options shall be exercisable at such time or times, and subject to such terms and conditions, as shall be determined
    by the Administrator. If the Administrator provides that any Stock Option is exercisable only in installments, the Administrator
    may at any time waive such installment exercise provisions, in whole or in part, based on such factors as the Administrator
    may determine. In addition, the Administrator may at any time, in whole or in part, accelerate the exercisability of any Stock
    Option, provided that the Administrator shall not accelerate the exercise date of any installment of any Incentive
    Stock Option (and not previously converted into a Non-Qualified Stock Option pursuant to Section 9(g)) if such acceleration
    would violate the annual exercisability limitation contained in Section 422(d) of the Code, as described in subsection
    (f) below. 

 

	(e)	Method of Exercise. Subject to the provisions
    of this Section 4, Stock Options may be exercised, in whole or in part, at any time during the option term by giving
    written notice of exercise to the Company or its designee specifying the number of shares of Stock subject to the Stock Option
    to be purchased and by complying with any other condition(s) set forth in the option agreement. 

 

    	 

    	 

    

 

Unless
the Company shall designate the Stock Option to be eligible for “cashless exercise” (to the extent permitted by applicable
law) and shall designate the terms and procedures for such “cashless exercise”, the option price of any Stock Option
shall be paid in full in cash (by certified or bank check or such other instrument as the Company may accept) or, unless otherwise
provided in the applicable option agreement, by one or more of the following: (i) in the form of unrestricted Stock already
owned by the Optionee (or, in the case of the exercise of a Non-Qualified Stock Option, Restricted Stock subject to a Stock Award
hereunder) held for at least 6 months based in any such instance on the Fair Market Value of the Stock on the date the Stock Option
is exercised; (ii) by certifying ownership of shares of Stock owned by the Optionee to the satisfaction of the Administrator
for later delivery to the Company as specified by the Company; (iii) unless otherwise prohibited by law for either the Company
or the Optionee, by irrevocably authorizing a third party to sell shares of 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; or (iv) by any combination of cash and/or any one or more of
the methods specified in clauses (i), (ii) and (iii). Notwithstanding the foregoing, the Administrator shall accept only
such payment on exercise of an Incentive Stock Option as is permitted by Section 422 of the Code, and a form of payment shall
not be permitted to the extent it would cause the Company to recognize a compensation expense (or additional compensation expense)
with respect to the Stock Option for financial reporting purposes.

 

If
payment of the option exercise price of a Non-Qualified Stock Option is made in whole or in part in the form of Restricted Stock,
the number of shares of Stock to be received upon such exercise equal to the number of shares of Restricted Stock used for payment
of the option exercise price shall be subject to the same forfeiture restrictions to which such Restricted Stock was subject,
unless otherwise determined by the Administrator.

 

No
shares of Stock shall be issued upon exercise of a Stock Option until full payment therefor has been made. Upon exercise of a
Stock Option (or a portion thereof), the Company shall have a reasonable time to issue the Stock for which the Stock Option has
been exercised, and the Optionee shall not be treated as a stockholder for any purposes whatsoever prior to such issuance. No
adjustment shall be made for cash dividends or other rights for which the record date is prior to the date such Stock is recorded
as issued and transferred in the Company’s official stockholder records, except as otherwise provided herein or in the applicable
option agreement.

 

	(f)	Limitation on Yearly Exercise for Incentive
    Stock Options. The option agreements shall restrict the amount of Incentive Stock Options which may become exercisable
    in any calendar year (under this or any other Incentive Stock Option plan of the Company or an Affiliate) so that the aggregate
    Fair Market Value (determined at the time each Incentive Stock Option is granted) of the Stock with respect to which Incentive
    Stock Options are exercisable for the first time by the Optionee in any calendar year does not exceed $100,000. 

 

	(g)	Transferability of Stock Options. Except
    as otherwise provided in the applicable option agreement, a Non-Qualified Stock Option (i) shall be transferable by the
    Optionee to a Family Member of the Optionee, provided that (A) any such transfer shall be by gift with no consideration
    and (B) no subsequent transfer of such Stock Option shall be permitted other than by will or the laws of descent and
    distribution, and (ii) shall not otherwise be transferable except by will or the laws of descent and distribution. An
    Incentive Stock Option shall not be transferable except by will or the laws of descent and distribution. A Stock Option shall
    be exercisable, during the Optionee’s lifetime, only by the Optionee or by the guardian or legal representative of the
    Optionee, it being understood that the terms “holder” and “Optionee” include the guardian and legal
    representative of the Optionee named in the applicable option agreement and any person to whom the Stock Option is transferred
    (X) pursuant to the first sentence of this Section 4(e) or pursuant to the applicable option agreement or (Y) by
    will or the laws of descent and distribution. Notwithstanding the foregoing, references herein to the termination of an Optionee’s
    employment or provision of services shall mean the termination of employment or provision of services of the person to whom
    the Stock Option was originally granted. 

 

	(h)	Termination by Death. Unless otherwise
    provided in the applicable option agreement, if an Optionee’s employment or provision of services terminates by reason
    of death, any Stock Option held by such Optionee may thereafter be exercised by the Participant’s Representative (i) to
    the extent that the Stock Option has become exercisable but has not been exercised on the date of death and (ii) in the
    event rights to exercise the Stock Option accrue periodically, to the extent of a pro-rata portion through the date of death
    of any additional vesting rights that would have accrued on the next vesting date had the Participant not died. The proration
    shall be based upon the number of days accrued in the current vesting period prior to the Participant’s date of death.
    If the Participant’s Representative wishes to exercise the Stock Option, the Representative must take all necessary
    steps to exercise the Option within one year after the date of death of such Participant, notwithstanding that the Participant
    might have been able to exercise the Option as to some or all of the shares on a later date if the Participant had not died
    and had continued to be an officer, employee, director or consultant or, if earlier, within the originally prescribed term
    of the Stock Option. In the event of termination of employment or provision of services due to death, if an Incentive Stock
    Option is exercised after the expiration of the exercise periods that apply for purposes of Section 422 of the Code,
    such Stock Option will thereafter be treated as a Non-Qualified Stock Option. 

 

    	 

    	 

    

 

	(i)	Termination by Reason of Disability.
    Unless otherwise provided in the applicable option agreement, if an Optionee’s employment or provision of services terminates
    by reason of Disability, any Stock Option held by such Optionee may thereafter be exercised by the Optionee (i) to the
    extent that the Stock Option has become exercisable but has not been exercised on the date of Disability; and (ii) in
    the event rights to exercise the Stock Option accrue periodically, to the extent of a pro rata portion through the date of
    Disability of any additional vesting rights that would have accrued on the next vesting date had the Participant not become
    Disabled. The proration shall be based upon the number of days accrued in the current vesting period prior to the date of
    Disability. A Disabled Participant may exercise such rights only within the period ending one year after the date of the Participant’s
    termination of employment, directorship or consultancy, as the case may be, notwithstanding that the Participant might have
    been able to exercise the Option as to some or all of the shares on a later date if the Participant has not become Disabled
    and had continued to be an officer, employee, director or consultant or, if earlier, within the originally prescribed term
    of the Stock Option. In the event of termination of employment or provision of services by reason of Disability, if an Incentive
    Stock Option is exercised after the expiration of the exercise periods that apply for purposes of Section 422 of the
    Code, such Stock Option will thereafter be treated as a Non-Qualified Stock Option. 

 

	(j)	Termination for Cause. Unless otherwise
    provided in the applicable option agreement, if an Optionee’s employment or services terminate for Cause, all outstanding
    and unexercised Stock Options as of the time the Optionee is notified that such Optionee’s employment or services are
    terminated for Cause will immediately be cancelled. 

 

	(k)	Other Termination. Unless otherwise provided
    in the applicable option agreement, if an Optionee’s employment or provision of services terminates for any reason other
    than death, Disability or Cause, the Optionee may exercise any Stock Option granted to the Optionee to the extent that the
    Stock Option is exercisable on the date of such termination for up to three months following such termination, but only within
    such term as the Administrator has designated in the Optionee’s option agreement. The provisions of this Section 5(k),
    and not the provisions of Sections 5(h) and 5(i), shall apply to an Optionee who subsequently becomes Disabled or dies after
    the termination of employment or service; provided, however, that in the case of an Optionee’s Disability or death within
    three months after the termination of service, the Optionee or the Optionee’s survivors may exercise the Stock Option
    within one year after the date of the Optionee’s termination of service, but in no event after the date of expiration
    of the term of the Stock Option. Notwithstanding anything in this Section 5(k) to the contrary, if subsequent to an Optionee’s
    termination of employment or services, but prior to the exercise of a Stock Option, the Administrator determines that, either
    prior to or subsequent to the Optionee’s termination of employment or services, the Optionee engaged in conduct that
    would constitute Cause, then such Optionee shall cease to have any right to exercise such Stock Option. An Optionee who is
    absent from work with the Company or an Affiliate because of temporary disability (any disability other than a permanent and
    total Disability), or who is on leave of absence for any purpose, shall not, during the period of any such absence, be deemed,
    by virtue of such absence alone, to have terminated such Optionee’s service with the Company or with an Affiliate, except
    as the Administrator may otherwise expressly provide. Except as required by law or as set forth in the Optionee’s option
    agreement, Stock Options granted under the Plan shall not be affected by any change of an Optionee’s status within or
    among the Company and any Affiliates, so long as the Optionee continues to be an officer, employee, director or consultant
    of the Company or any Affiliate. In the event of termination of services for any reason other than death, Disability or Cause,
    if an Incentive Stock Option is exercised after the expiration of the exercise periods that apply for purposes of Section 422
    of the Code, such Stock Option will thereafter be treated as a Non-Qualified Stock Option.

 

6.
STOCK APPRECIATION RIGHTS.

 

Stock
Appreciation Rights may be granted either on a stand-alone basis or in conjunction with all or part of any Stock Option granted
under the Plan. In the case of a Non-Qualified Stock Option, such rights may be granted either at or after the time of grant of
such Stock Option. In the case of an Incentive Stock Option, such rights may be granted only at the time of grant of such Stock
Option. A Stock Appreciation Right shall terminate and no longer be exercisable as determined by the Administrator, or, if granted
in conjunction with all or part of any Stock Option, upon the termination or exercise of the related Stock Option.

 

    	 

    	 

    

 

A
Stock Appreciation Right may be exercised by a Participant as determined by the Administrator in accordance with this Section 6,
and, if granted in conjunction with all or part of any Stock Option, by surrendering the applicable portion of the related Stock
Option in accordance with procedures established by the Administrator. Upon such exercise and surrender, the Participant shall
be entitled to receive an amount determined in the manner prescribed in this Section 6. Stock Options which have been so
surrendered, if any, shall no longer be exercisable to the extent the related Stock Appreciation Rights have been exercised.

 

Stock
Appreciation Rights shall be subject to such terms and conditions as shall be determined by the Administrator, including the following:

 

	(a)	Stock Appreciation Rights granted on a stand-alone
    basis shall be exercisable only at such time or times and to such extent as determined by the Administrator. Stock Appreciation
    Rights granted in conjunction with all or part of any Stock Option shall be exercisable only at the time or times and to the
    extent that the Stock Options to which they relate are exercisable in accordance with the provisions of Section 5 and
    this Section 6. 

 

	(b)	Upon the exercise of a Stock Appreciation Right,
    a Participant shall be entitled to receive an amount in cash, shares of Stock or both, which in the aggregate are equal in
    value to the excess of the Fair Market Value of one share of Stock over (i) such Fair Market Value per share of Stock
    as shall be determined by the Administrator at the time of grant (if the Stock Appreciation Right is granted on a stand-alone
    basis), or (ii) the exercise price per share specified in the related Stock Option (if the Stock Appreciation Right is
    granted in conjunction with all or part of any Stock Option), multiplied by the number of shares in respect of which the Stock
    Appreciation Right shall have been exercised, with the Administrator having the right to determine the form of payment. 

 

	(c)	A Stock Appreciation Right shall be transferable
    only to, and shall be exercisable only by, such persons permitted in accordance with Section 5(g). 

 

7.
STOCK AWARDS OTHER THAN OPTIONS. 

 

Stock
Awards may be directly issued under the Plan (without any intervening options), subject to such terms, conditions, performance
requirements, restrictions, forfeiture provisions, contingencies and limitations as the Administrator shall determine. Stock Awards
may be issued which are fully and immediately vested upon issuance or which vest in one or more installments over the Participant’s
period of employment or other service to the Company or upon the attainment of specified performance objectives, or the Company
may issue Stock Awards which entitle the Participant to receive a specified number of vested shares of Stock or cash, as determined
by the Administrator, upon the attainment of one or more performance goals or service requirements established by the Administrator.

 

The
principal terms of each Stock Award shall be set forth in a stock grant agreement, which shall be in a form approved by the Administrator
and shall contain the terms and conditions which the Administrator determines to be appropriate and in the best interests of the
Company, including the number of shares to which the Stock Award relates.

 

Shares
representing a Stock Award shall be evidenced in such manner as the Administrator may deem appropriate, including book-entry registration
or issuance of one or more certificates (which may bear appropriate legends referring to the terms, conditions and restrictions
applicable to such Award). The Administrator may require that any such certificates be held in custody by the Company until any
restrictions thereon shall have lapsed and that the Participant deliver a stock power, endorsed in blank, relating to the Stock
covered by such Award.

 

A
Stock Award may be issued in exchange for any consideration which the Administrator may deem appropriate in each individual instance,
including, without limitation:

 

	(a)	cash or cash equivalents; 

 

	(b)	past services rendered to the Company or any
    Affiliate; or 

 

	(c)	future services to be rendered to the Company
    or any Affiliate (provided that, in such case, the par value of the Stock subject to such Stock Award shall be paid in cash
    or cash equivalents, unless the Administrator provides otherwise). 

 

    	 

    	 

    

 

A
Stock Award that is subject to restrictions on transfer and/or forfeiture provisions may be referred to as an award of “Restricted
Stock” or “Restricted Stock Units.”

 

8.
CHANGE IN CONTROL PROVISIONS. 

 

	(a)	Impact
    of Event. Notwithstanding any other provision of the Plan to the contrary, in the event of a Change in Control: 

 

	 	(i)	Any
    Stock Options and Stock Appreciation Rights outstanding as of the date such Change in Control is determined to have occurred
    and not then exercisable and vested shall become fully exercisable and vested to the full extent of the original grant; 
	 	 	 
	  	(ii)	The
    restrictions applicable to any outstanding Stock Award shall lapse, and the Stock relating to such Award shall become free
    of all restrictions and become fully vested and transferable to the full extent of the original grant; 
	 	 	 
	  	(iii)	All
    outstanding repurchase rights of the Company with respect to any outstanding Awards shall terminate; and 
	 	 	 
	  	(iv)	Outstanding
    Awards shall be subject to any agreement of merger or reorganization that effects such Change in Control, which agreement
    shall provide for: 

 

	 	(A)	The
    continuation of the outstanding Awards by the Company, if the Company is a surviving corporation, 
	 	 	 
	  	(B)	The
    assumption of the outstanding awards by the surviving corporation or its parent or subsidiary; 
	 	 	 
	  	(C)	The
    substitution by the surviving corporation or its parent or subsidiary of equivalent awards for the outstanding Awards; or
    
	 	 	 
	  	(D)	Settlement
    of each share of Stock subject to an outstanding Award for the Change in Control Price (less, to the extent applicable, the
    per share exercise price). 

 

	 	(v)	In
    the absence of any agreement of merger or reorganization effecting such Change in Control, each share of Stock subject to
    an outstanding Award shall be settled for the Change in Control Price (less, to the extent applicable, the per share exercise
    price), or, if the per share exercise price equals or exceeds the Change in Control Price, the outstanding Award shall terminate
    and be canceled. 

 

	(b)	Definition
    of Change in Control. For purposes of the Plan, a “Change in Control” shall mean the happening of any of the
    following events: 

 

	 	(i)	An
    acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a
    “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50%
    or more of either (1) the then outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”)
    or (2) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the
    election of directors (the “Outstanding Company Voting Securities”); excluding, however, the following: (1) any
    acquisition directly from the Company, other than an acquisition by virtue of the exercise of a conversion privilege unless
    the security being so converted was itself acquired directly from the Company, (2) any acquisition by the Company; (3) any
    acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled
    by the Company; or (4) any acquisition by any Person pursuant to a transaction which complies with clauses (1), (2) and (3)
    of subsection (iii) of this Section 8(b); or 
	 	 	 
	  	(ii)	Within
    any period of 24 consecutive months, a change in the composition of the Board such that the individuals who, immediately prior
    to such period, constituted the Board (such Board shall be hereinafter referred to as the “Incumbent Board”) cease
    for any reason to constitute at least a majority of the Board; provided, however, for purposes of this Section 8(b), that
    any individual who becomes a member of the Board during such period, whose election, or nomination for election by the Company’s
    stockholders, was approved by a vote of at least a majority of those individuals who are members of the Board and who were
    also members of the Incumbent Board (or deemed to be such pursuant to this proviso) shall be considered as though such individual
    were a member of the Incumbent Board; but, provided further, that any such individual whose initial assumption of office occurs
    as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated
    under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other
    than the Board shall not be so considered as a member of the Incumbent Board; or 

 

    	 

    	 

    

 

	 	(iii)	The
    consummation by the Company of a reorganization, merger or consolidation or sale or other disposition of all or substantially
    all of the assets of the Company (“Corporate Transaction”); excluding, however, such a Corporate Transaction pursuant
    to which (1) all or substantially all of the individuals and entities who are the beneficial owners, respectively, of the
    outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Corporate Transaction
    will beneficially own, directly or indirectly, more than 50% of, respectively, the outstanding shares of common stock, and
    the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors,
    as the case may be, of the corporation resulting from such Corporate Transaction (including, without limitation, a corporation
    which as a result of such transaction owns the Company or all or substantially all of the Company’s assets, either directly
    or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Corporate
    Transaction, of the outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (2) no
    Person (other than the Company; any employee benefit plan (or related trust) sponsored or maintained by the Company, by any
    corporation controlled by the Company, or by such corporation resulting from such Corporate Transaction) will beneficially
    own, directly or indirectly, more than 50% of, respectively, the outstanding shares of common stock of the corporation resulting
    from such Corporate Transaction or the combined voting power of the outstanding voting securities of such corporation entitled
    to vote generally in the election of directors, except to the extent that such ownership existed with respect to the Company
    prior to the Corporate Transaction, and (3) individuals who were members of the Board immediately prior to the approval by
    the stockholders of the Corporation of such Corporate Transaction will constitute at least a majority of the members of the
    board of directors of the corporation resulting from such Corporate Transaction; or 
	 	 	 
	  	(iv)	The
    approval by the stockholders of the Company of a complete liquidation or dissolution of the Company, other than to a corporation
    pursuant to a transaction which would comply with clauses (1), (2) and (3) of subsection (iii) of this Section 8(b), assuming
    for this purpose that such transaction were a Corporate Transaction. 

 

	(c)	Change
    in Control Price. For purposes of the Plan, “Change in Control Price” means the higher of (i) the highest
    reported sales price, regular way, of a share of Stock in any transaction reported on any securities exchange or listing service
    on which such shares are listed during the 60-day period prior to and including the date of a Change in Control, or if the
    Stock is not publicly quoted, the Fair Market Value determined by the Administrator and (ii) if the Change in Control is the
    result of a tender or exchange offer or a Corporate Transaction, the highest price per share of Stock paid in such tender
    or exchange offer or Corporate Transaction. To the extent that the consideration paid in any such transaction described above
    consists all or in part of securities or other non-cash consideration, the value of such securities or other non-cash consideration
    shall be determined in the sole discretion of the Board. 

 

9.
MISCELLANEOUS. 

 

	(a)	Amendment.
    The Board may amend or alter the Plan or any Award, but no amendment or alteration shall be made which would adversely affect
    the rights of a Participant under an Award theretofore granted without the Participant’s consent, except such an amendment
    (i) made to avoid an expense charge to the Company or an Affiliate, or (ii) made to permit the Company or an Affiliate to
    claim a deduction under, or otherwise comply with, the Code (including, but not limited to, Section 409A of the Code). No
    such amendment shall be made without the approval of the Company’s stockholders to the extent such approval is required
    by law, agreement or the rules of any stock exchange or market on which the Stock is listed. 

 

The
Administrator may amend the terms of any Stock Option or other Award theretofore granted, prospectively or retroactively, but
no such amendment shall adversely affect the rights of the holder thereof without the holder’s consent.

 

Notwithstanding
anything in the Plan to the contrary, neither the Board nor a Committee may (i) amend a Stock Option to reduce its option price,
(ii) cancel a stock option and re-grant a Stock Option with a lower option price that the option price of the cancelled Stock
option or (iii) take any other action (whether in the form of an amendment, cancellation or replacement grant) that has the effect
of repricing a Stock Option.

 

    	 

    	 

    

 

	(b)	Termination
    of the Plan. The Plan will terminate on the date which is 10 years from the earlier of the date of its adoption by the
    Board and the date of its approval by the stockholders. The Plan may be terminated at an earlier date by vote of the stockholders
    or the Board; provided, however, that any such earlier termination shall not affect any option agreements, Stock Appreciation
    Right agreements or Stock Award agreements executed prior to the effective date of such termination. 
	 	 
	(c)	Unfunded
    Status of Plan. It is intended that this Plan be an “unfunded” plan for incentive and deferred compensation.
    The Administrator may authorize the creation of trusts or other arrangements to meet the obligations created under this Plan
    to deliver Common Stock or make payments, provided that, unless the Administrator otherwise determines, the existence of such
    trusts or other arrangements is consistent with the “unfunded” status of this Plan. 
	 	 
	(d)	Rights
    as a Shareholder: No Participant to whom an Award has been granted shall have rights as a shareholder with respect to
    any shares covered by such Award, except after due exercise of the Stock Option or Stock Appreciation Right or vesting of
    the Stock Award and tender of the full purchase price, if any, for the shares being purchased pursuant to such exercise or
    award and registration of the shares in the Company’s share register in the name of the Participant. 
	 	 
	(e)	Issuance
    of Securities: Except as expressly provided herein, no issuance by the Company of shares of Stock of any class, or securities
    convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect
    to, the number or price of shares subject to Awards. Except as expressly provided herein, no adjustments shall be made for
    dividends paid in cash or in property (including without limitation, securities) of the Company prior to any issuance of shares
    pursuant to an Award.
	 	 
	(f)	Fractional
    Shares: No fractional shares shall be issued under the Plan and the Company shall pay cash in lieu of fractional shares
    equal to the Fair Market Value of such fractional shares. 
	 	 
	(g)	Conversion
    of Incentive Stock Options into Non-Qualified Stock Options; Termination of Incentive Stock Options: The Administrator,
    at the written request of any Participant, may in its discretion take such actions as may be necessary to convert such Participant’s
    Incentive Stock Options (or any portions thereof) that have not been exercised on the date of conversion into Non-Qualified
    Stock Options at any time prior to the expiration of such Incentive Stock Options, regardless of whether the Participant is
    an employee of the Company or a Subsidiary at the time of such conversion. At the time of such conversion, the Administrator
    (with the consent of the Participant) may impose such conditions on the exercise of the resulting Non-Qualified Stock Options
    as the Administrator, in its discretion may determine, provided that such conditions shall not be inconsistent with this Plan.
    Nothing in the Plan shall be deemed to give any Participant the right to have such Participant’s Incentive Stock Options
    converted into Non-Qualified Stock Options, and no such conversion shall occur until and unless the Administrator takes appropriate
    action. The Administrator, with the consent of the Participant, may also terminate any portion of any Incentive Stock Option
    that has not been exercised at the time of such conversion. 
	 	 
	(h)	Notice
    to Company of Disqualifying Disposition: Each employee who receives an Incentive Stock Option must agree to notify the
    Company in writing immediately after the employee makes a “Disqualifying Disposition” of any shares acquired pursuant
    to the exercise of an Incentive Stock Option. A “Disqualifying Disposition” is defined in Section 424(c) of the
    Code and includes any disposition (including any sale or gift) of such shares before the later of (i) two years after the
    date the employee was granted the Incentive Stock Option, or (ii) one year after the date the employee acquired shares by
    exercising the Incentive Stock Option, except as otherwise provided in Section 424(c) of the Code. If the employee has died
    before such stock is sold, these holding period requirements do not apply and no Disqualifying Disposition can occur thereafter.
    
	 	 
	(i)	General
    Provisions. 

 

	 	(i)	The
    Administrator may require each person purchasing or receiving shares pursuant to an Award to represent to and agree with the
    Company in writing that such person is acquiring the shares without a view to the distribution thereof. The certificates for
    such shares may include any legend which the Administrator deems appropriate to reflect any restrictions on transfer. 

 

All
certificates for shares of Stock or other securities delivered under the Plan shall be subject to such stock transfer orders and
other restrictions as the Administrator may deem advisable under the rules, regulations and other requirements of the Commission,
any stock exchange or market on which the Stock is then listed and any applicable Federal or state securities law, and the Administrator
may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions.

 

    	 

    	 

    

 

	 	(ii)	Nothing
    contained in the Plan shall prevent the Company or any Affiliate from adopting other or additional compensation arrangements
    for its employees. 
	 	 	 
	  	(iii)	The
    adoption of the Plan shall not confer upon any employee, director consultant or advisor any right to continued employment,
    directorship or service, nor shall it interfere in any way with the right of the Company or any Affiliate to terminate the
    employment or service of any employee, consultant or advisor at any time. 
	 	 	 
	  	(iv)	No
    later than the date as of which an amount first becomes includible in the gross income of the Participant for Federal income
    tax purposes with respect to any Award under the Plan, the Participant shall pay to the Company, or make arrangements satisfactory
    to the Company regarding the payment of, any Federal, state, local or foreign taxes of any kind required by law to be withheld
    with respect to such amount. Unless otherwise determined by the Administrator, withholding obligations may be settled with
    Stock, including Stock that is part of the Award that gives rise to the withholding requirement. The obligations of the Company
    under the Plan shall be conditional on such payment or arrangements, and the Company, its Subsidiaries and its Affiliates
    shall, to the extent permitted by law, have the right to deduct any such taxes from any payment otherwise due to the Participant.
    The Administrator may establish such procedures as it deems appropriate for the settlement of withholding obligations with
    Stock.
	 	 	 
	   	(v)	The
    Administrator shall establish such procedures as it deems appropriate for a Participant to designate a beneficiary to whom
    any amounts payable in the event of the Participant’s death are to be paid. 
	 	 	 
	  	(vi)	Any
    amounts owed to the Company or an Affiliate by the Participant of whatever nature may be offset by the Company from the value
    of any shares of Common Stock, cash or other thing of value under this Plan or an agreement to be transferred to the Participant,
    and no shares of Common Stock, cash or other thing of value under this Plan or an agreement shall be transferred unless and
    until all disputes between the Company and the Participant have been fully and finally resolved and the Participant has waived
    all claims to such against the Company or an Affiliate. 
	 	 	 
	  	(vii)	The
    grant of an Award shall in no way affect the right of the Company to adjust, reclassify, reorganize or otherwise change its
    capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business
    or assets. 
	 	 	 
	  	(viii)	If
    any payment or right accruing to a Participant under this Plan (without the application of this Section (9)(c)(viii)), either
    alone or together with other payments or rights accruing to the Participant from the Company or an Affiliate (“Total
    Payments”) would constitute a “parachute payment” (as defined in Section 280G of the Code and regulations
    thereunder), such payment or right shall be reduced to the largest amount or greatest right that will result in no portion
    of the amount payable or right accruing under this Plan being subject to an excise tax under Section 4999 of the Code or being
    disallowed as a deduction under Section 280G of the Code; provided, however, that the foregoing shall not apply to the extent
    provided otherwise in an Award or in the event the Participant is party to an agreement with the Company or an Affiliate that
    explicitly provides for an alternate treatment of payments or rights that would constitute “parachute payments.”
    The determination of whether any reduction in the rights or payments under this Plan is to apply shall be made by the Administrator
    in good faith after consultation with the Participant, and such determination shall be conclusive and binding on the Participant.
    The Participant shall cooperate in good faith with the Administrator in making such determination and providing the necessary
    information for this purpose. The foregoing provisions of this Section 9(c)(viii) shall apply with respect to any person only
    if, after reduction for any applicable Federal excise tax imposed by Section 4999 of the Code and Federal income tax imposed
    by the Code, the Total Payments accruing to such person would be less than the amount of the Total Payments as reduced, if
    applicable, under the foregoing provisions of this Plan and after reduction for only Federal income taxes.
	 	 	 
	  	(ix)	To
    the extent that the Administrator determines that the restrictions imposed by the Plan preclude the achievement of the material
    purposes of the Awards in jurisdictions outside the United States, the Administrator in its discretion may modify those restrictions
    as it determines to be necessary or appropriate to conform to applicable requirements or practices of jurisdictions outside
    of the United States. 

 

    	 

    	 

    

 

	 	(x)	The
    headings contained in this Plan are for reference purposes only and shall not affect the meaning or interpretation of this
    Plan. 
	 	 	 
	  	(xi)	If
    any provision of this Plan shall for any reason be held to be invalid or unenforceable, such invalidity or unenforceability
    shall not affect any other provision hereby, and this Plan shall be construed as if such invalid or unenforceable provision
    were omitted. 
	 	 	 
	  	(xii)	This
    Plan shall inure to the benefit of and be binding upon each successor and assign of the Company. All obligations imposed upon
    a Participant, and all rights granted to the Company hereunder, shall be binding upon the Participant’s heirs, legal
    representatives and successors 
	 	 	 
	  	(xiii)	This
    Plan and each agreement granting an Award constitute the entire agreement with respect to the subject matter hereof and thereof,
    provided that in the event of any inconsistency between this Plan and such agreement, the terms and conditions of the Plan
    shall control 
	 	 	 
	  	(xiv)	In
    the event there is an effective registration statement under the Securities Act pursuant to which shares of Stock shall be
    offered for sale in an underwritten offering, a Participant shall not, during the period requested by the underwriters managing
    the registered public offering, effect any public sale or distribution of shares of Stock received, directly or indirectly,
    as an Award or pursuant to the exercise or settlement of an Award. 
	 	 	 
	  	(xv)	None
    of the Company, an Affiliate or the Administrator shall have any duty or obligation to disclose affirmatively to a record
    or beneficial holder of Stock or an Award, and such holder shall have no right to be advised of, any material information
    regarding the Company or any Affiliate at any time prior to, upon or in connection with receipt or the exercise of an Award
    or the Company’s purchase of Stock or an Award from such holder in accordance with the terms hereof. 
	 	 	 
	  	(xvi)	This
    Plan, and all Awards, agreements and actions hereunder, shall be governed by, and construed in accordance with, the laws of
    the state of Nevada (other than its law respecting choice of law). 

 

	(j)	Compliance
                                         with Section 409A of the Code. The Plan is intended to comply with Section 409A of
                                         the Code, and official guidance issued thereunder, to the extent applicable. Notwithstanding
                                         any provision of the Plan to the contrary, the Plan shall be interpreted, operated, and
                                         administered consistently with this intent.

         

        Adopted
        by the Board of Directors and Shareholders as of August 22, 2018Blueprint

  Exhibit 10.1

 

SEPARATION
AND GENERAL RELEASE AGREEMENT

 

The
following Separation Agreement and General Release
(“Agreement”) between Frank C. Ingriselli
(“I” or “Employee”), Pacific Energy
Development Corp. (“PEDEVCO” or the
“Company”) is entered into with the following
terms:

 

This
Release Agreement is given in consideration of the Severance
Benefits described below. I understand the Severance Benefits are
additional benefits for which I am not eligible unless I elect to
sign this Agreement. I agree that this Agreement is not given in
return for the payment of any wages undisputedly due or owing. I
also understand and agree that I will not be entitled to such
consideration if I accept an offer with PEDEVCO or with an
affiliated or related Company or a successor to PEDEVCO or any of
its affiliated or related Companies prior to the payment of such
Severance Benefits.

 

CONSIDERATION

 

In
accordance with the terms of this Agreement, and provided that I
sign and do not revoke this Agreement within the deadlines set
forth herein, I will be entitled to Severance Benefits of
$350,000.00, , subject to applicable deductions, after seven (7)
days from the date of signature . I understand and agree that the
Severance Benefits to be paid under this Agreement are due solely
from the Company and that Insperity PEO Services, L.P.
("Insperity") has no obligation to pay the Severance Benefits even
though payment may be processed through Insperity. In addition, in
accordance with the stock purchase agreements entered into between
you and the Company governing the vesting terms of your 60,000
shares currently vesting on 12/1/2018, 60,000 shares currently
vesting on 1/11/19 and your 20,000 shares currently vesting on
3/1/2019 ("Unvested Stock"), all Unvested Stock would be forfeited
on the Separation Date, absent the execution and effectiveness of
this Agreement. You and the Company acknowledge and agree that
Severance Benefits shall include (i) upon the effective date of
this Agreement, all of your Unvested Stock shall be transferred and
assigned by you to Global Venture Investments Inc., an entity owned
and controlled by you ("GVEST"), and (ii) effective immediately
upon October 1, 2018, provided successful completion of services
under the GVEST consulting agreement with the Company dated
September 6, 2018, all of the Unvested Stock shall fully vest and
be released from the Company's repurchase option.

 

RELEASE

 

Released Claims

 

In
consideration of being provided the Severance Benefits, I, on
behalf of my heirs, spouse and assigns, hereby completely release
and forever discharge PEDEVCO and Insperity, their past and present
parent companies, subsidiaries, affiliates, related entities, and
each of their past and present principals, partners, agents,
officers, directors, plan fiduciaries, employees, attorneys,
insurers, successors, shareholders and assigns (collectively,
“Released
Parties”) from any and all claims, of any and every
kind, nature and character, known or unknown, foreseen or
unforeseen, based on any act or omission occurring prior to the
date of my signing this Release Agreement to the fullest extent
allowed by law, including but not limited to any claims arising out
of my offer of employment, my Executive Employment Agreement, dated
May 10, 2018, my employment, or termination of my employment with
the Company and Insperity; and any disputed wages, commissions, and
bonuses. This release of claims includes, without limitation,
claims at law or equity or sounding in contract (express or
implied) or tort, claims arising under any federal, state, or local
laws, of any jurisdiction, including, without limitation, those
that prohibit age, sex, race, national origin, color, sexual
orientation, pregnancy, disability, religion, veteran status,
gender identity or gender expression, or any other form of
discrimination, harassment, or retaliation. The matters released
include, but are not limited to, any claims under federal, state,
or local laws, including claims arising under the Age
Discrimination in Employment Act of 1967 (“ADEA”) as
amended by the Older Workers’ Benefit Protection Act
(“OWBPA”), Title VII of the
Civil Rights Act of 1964; the Equal Pay Act of 1963; the Americans
with Disabilities Act of 1990; the Civil Rights Act of 1866, 42
U.S.C. §1981; the Employee Retirement Income Security Act of
1974; the Civil Rights Act of 1991; the Family and Medical Leave
Act of 1993; the California Family Rights Act, the California Fair
Employment and Housing Act, the California Labor Code, and any
other state or federal law, common law tort, contract, or statutory
claims, and any claims for attorneys’ fees and
costs.

 

 

1

 

 

I
understand and agree that, with the exception of excluded
claims, this Release Agreement extinguishes all claims, whether
known or unknown, foreseen or unforeseen. I expressly waive any
rights or benefits under Section 1542 of the California Civil Code,
or any equivalent statute. California Civil Code Section 1542
provides as follows:

 

“A general release does not extend to claims which the
creditor does not know or suspect to exist in his or her favor at
the time of executing the release, which if known by him or her
must have materially affected his or her settlement with the
debtor.”

 

I fully
understand that, if any fact with respect to any matter covered by
this Release Agreement is found hereafter to be other than or
different from the facts now believed by me to be true, I expressly
accept and assume that this Release Agreement shall be and remain
effective, notwithstanding such difference in the
facts.

 

Claims Excluded from Release

 

Notwithstanding the
foregoing, claims challenging the validity of this Release
Agreement under the ADEA as amended by the OWBPA, and any claims
that cannot be released as a matter of law as set forth under the
Protected Rights section below, are not released (collectively,
“Excluded
Claims”).

 

Enforcement of This Release Agreement

 

I also
understand and agree that, if any suit, affirmative defense, or
counterclaim is brought to enforce the provisions of this Release
Agreement, with the exception of Excluded Claims, the prevailing
party shall be entitled to its costs, expenses, and
attorneys’ fees as well as any and all other remedies
specifically authorized under the law.

 

In the
event that I breach any of my obligations under this Release
Agreement, the Company and Insperity will be entitled to recover
all relief provided by law or equity.

 

Covenant Not to Sue

 

I agree
not to pursue any action nor seek damages or any other remedies for
any released claims. I agree to execute any and all documents
necessary to request dismissal or withdrawal, or to opt-out, of
such claims with prejudice.

 

Confidentiality

 

I
further acknowledge that during my employment, I may have obtained
confidential, proprietary, and trade secret information, including
information relating to the Company’s products, plans,
designs and other valuable confidential information. Except as
provided under the Protected Rights section below, I agree not to
use or disclose any such confidential information unless required
by subpoena or court order and that I will first give the Company
written notice of such subpoena or court order with reasonable
advance notice to permit the Company to oppose such subpoena or
court order if it chooses to do so. I will further agree that,
except as provided under the Protected Rights section below or
unless required to do so by law, I will not disclose voluntarily or
allow anyone else to disclose either the existence, reason for, or
contents of this Release Agreement without PEDEVCO’s prior
written consent.

 

 

2

 

 

Notwithstanding
this provision, I am authorized to disclose this Release Agreement
to my spouse, attorneys and tax advisors on a “need to
know” basis, on the condition that they agree to hold the
terms of the Release Agreement, including the severance payment(s),
in strictest confidence. I am further authorized to make
appropriate disclosures in response to a subpoena, provided that I
notify PEDEVCO in
writing of such legal obligations to disclose at least five (5)
business days in advance of disclosure. No such notice, however, is
required if I make disclosure of confidential information of this
Release Agreement in the process of exercising my right or ability
to file a charge or claim or communicate or cooperate with any
federal, state or local agency, including providing documents or
other information as set forth under the Protected Rights section
below.

 

If I
do, however, make an unauthorized disclosure, I agree to pay the
Company $1,000 per occurrence and to indemnify and hold harmless
the Company for and against any and all costs, losses or liability,
whatsoever, including reasonable attorney’s fees, caused by
my breach of the non-disclosure provisions.

 

Miscellaneous

 

I
understand that neither the Company nor Insperity have made any
promises and have no obligation to re-hire or employ
me.

 

I will
not make disparaging comments about the Company or its principals,
partners, employees, officers, directors, or its affiliates at any
time.

 

I
further agree to indemnify the Released Parties and hold the
Released Parties harmless from any and all claims made by any
entity, governmental or otherwise, on account of an alleged failure
by me or the Released Parties to satisfy any taxes associated with
this Agreement including, but not limited to, applicable federal,
state, and local income taxes, unemployment insurance,
workers’ compensation insurance, disability insurance, Social
Security taxes, and other charges or obligations.

 

I also
agree that for a period of one (1) year after the termination of my
employment with the Company and Insperity, I shall not induce or
attempt to induce any employee, agent, or consultant of the Company
to terminate his or her association with the Company. The Company
and I agree that the provisions of this paragraph contain
restrictions that are not greater than necessary to protect the
interests of the Company. In the event of the breach or threatened
breach by me of this paragraph, the Company, in addition to all
other remedies available to it at law or in equity, will be
entitled to seek injunctive relief and/or specific performance to
enforce this paragraph.

 

This
Release Agreement constitutes the entire agreement between myself
and the Company and Insperity with respect to any matters referred
to in this Release Agreement. This Release Agreement supersedes any
and all of the other agreements between me and the Company and
Insperity, except for any restrictive covenants, which remain in
full force and effect, including but not limited to, the
Employment, Confidential Information, Invention Assignment and
Arbitration Agreement, and/or the Proprietary Information and
Inventions Agreement. No other consideration, agreements,
representations, oral statements, understandings or course of
conduct which are not expressly set forth in this Release Agreement
should be implied or are binding. I am not relying upon any other
agreement, representation, statement, omission, understanding, or
course of conduct, which is not expressly set forth in this Release
Agreement. I understand and agree that this Release Agreement shall
not be deemed or construed at any time or for any purposes as an
admission of any liability or wrongdoing by either myself or the
Company or Insperity.

 

Except
to the extent that ERISA or any other federal law applies to the
Release Agreement and preempts state law, the terms and conditions
of this Release Agreement will be interpreted and construed in
accordance with the laws of California, excluding any
conflict-of-law rule or principle that might refer to the laws of
another state. I also agree that if any provision of this Release
Agreement is deemed invalid, the remaining provisions will still be
given full force and effect.

 

 

3

 

 

Agreement Knowingly and Voluntarily Executed; Waiting and
Revocation Periods, ADEA Waiver

 

I
expressly acknowledge that this Agreement contains a waiver of
claims under the ADEA as amended by the OWBPA and I have been
advised and instructed that I have the right to consult with an
attorney of my own choice and that I should review the terms of
this Agreement with counsel of my own selection. I further confirm,
warrant and represent:

 

●

I have carefully
read the terms of this Agreement, and I am fully aware of the
Agreement’s contents and legal effects;

 

●

I was given a copy
of this Agreement on September 6, 2018. I have had an opportunity
to consult an attorney of my own choice before signing it and was
given a period of at least 21 days, or until September 27, 2018, to
consider this Agreement.

 

●

I understand that
once signed, I may revoke this Agreement by notifying Simon G.
Kukes in writing via hand delivery or email (skukes@yahoo.com) no
later than seven (7) days following my execution of this Agreement,
and that this Agreement shall not become effective or enforceable
until such revocation period has expired;

 

●

PEDEVCO and I agree
that any later agreed-upon changes to this Release Agreement,
whether material or immaterial, do not restart the running of the
21-day period.

 

●

Further, I
understand that claims challenging the validity of this Release
Agreement under the ADEA as amended by the OWBPA are not
released.

 

●

I execute this
Agreement voluntarily, knowingly, and willingly. I have read this
Release Agreement and understand all of its terms. Prior to
execution of this Release Agreement, I have apprised myself of
sufficient relevant information in order that I might intelligently
exercise my own judgment.

 

Protected Rights

 

I
understand that nothing contained in this Release Agreement limits
my rights to file a charge or complaint with the Equal Employment
Opportunity Commission, Department of Labor, National Labor
Relations Board, California Department of Fair Employment and
Housing, or any other federal, state, or local governmental agency
or commission. I further understand that this Release Agreement
does not limit my ability to communicate with any such agencies or
otherwise participate in any investigation or proceeding that may
be conducted by such agencies, including providing documents or
other information, without notice to the Company. Nonetheless, I
release any right to recover monetary damages from any of the
Released Parties through any charge or claim I file or that an
agency or anyone else files on my behalf.

 

Pursuant to the
Defend Trade Secrets Act of 2016 (18 U.S.C. §1833(b)), I shall
not be held criminally or civilly liable under any Federal or State
trade secret law for the disclosure of a trade secret that is made
in confidence either directly or indirectly to a Federal, State, or
local government official, or to an attorney, solely for the
purpose of reporting or investigating, a violation of law. I shall
not be held criminally or civilly liable under any Federal or State
trade secret law for the disclosure of a trade secret made in a
complaint, or other document filed in a lawsuit or other
proceeding, if such filing is made under seal. If I file a lawsuit
alleging retaliation by the Employer for reporting a suspected
violation of the law, I may disclose the trade secret to my
attorney and use the trade secret in the court proceeding, so long
as any document containing the trade secret is filed under seal and
does not disclose the trade secret, except pursuant to court order.
This paragraph will govern to the extent it may conflict with any
other provision of this Agreement.

 

 

4

 

 

ACCEPTANCE OF RELEASE AGREEMENT

 

I
ACKNOWLEDGE AND AGREE THAT I HAVE FULLY READ, UNDERSTAND, AND
VOLUNTARILY ENTER INTO THIS AGREEMENT AND AGREE TO ALL THE TERMS OF
THE RELEASE. I ACKNOWLEDGE AND AGREE THAT I HAD AN OPPORTUNITY TO
ASK QUESTIONS AND CONSULT WITH AN ATTORNEY OF MY CHOICE BEFORE
SIGNING THIS AGREEMENT. I FURTHER ACKNOWLEDGE THAT MY SIGNATURE
BELOW IS AN AGREEMENT TO RELEASE EMPLOYER FROM ANY AND ALL CLAIMS
THAT CAN BE RELEASED AS A MATTER OF LAW.

 

NOTICE: Sign below on or after September 6, 2018 (your
“Separation Date”):

 

 

 

 

	

EMPLOYEE

 

 

Signature:
/s/ Frank C.
Ingriselli

Print
Name: Frank C. Ingriselli

Date:
September 6, 2018

	

PACIFIC ENERGY DEVELOPMENT CORP.

 

 

By: /s/ Simon
Kukes

Name: Simon Kukes

Title: CEO, Pacific Energy Development Corp.

Date: September 6, 2018

 

 

 

 

 

 

 

 

 

 

 

5

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