Document:

Exhibit 10.1

 

SEPARATION, CONSULTING AND RELEASE AGREEMENT

 

This Separation and Release
Agreement (this “Agreement”) is entered into by and between Eric Javidi (“Employee”)
and Archaea Energy Inc., a Delaware corporation (the “Company”). Employee and the Company are each referred
to herein as a “Party” and together as the “Parties.”

 

WHEREAS, Employee’s
employment with the Company and all other Company Parties (as defined below) will end on March 1, 2022 (the “Separation Date”);

 

WHEREAS, the Company and Employee
wish for Employee to receive certain benefits as set forth in this Agreement, which benefits are conditioned upon Employee’s timely
execution (and non-revocation) of this Agreement and Employee’s compliance with the terms of this Agreement;

 

WHEREAS, the Parties wish
to resolve any and all claims or causes of action that Employee has or may have against the Company or any of the other Company Parties
(as defined below), including any claims or causes of action that Employee may have arising out of Employee’s employment or the
end of such employment; and

 

WHEREAS, the Company wishes
for Employee to be available to provide certain consulting services, in the capacity of an independent contractor, following the Separation
Date, and Employee wishes to provide such services.

 

NOW, THEREFORE, in consideration
of the promises set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged
by the Parties, the Parties agree as follows:

 

1.
Separation from Employment; Deemed Resignations. Employee’s employment with the Company shall end on the
Separation Date and, as of the Separation Date, Employee shall no longer have an employment relationship with the Company or any other
Company Party. Employee acknowledges and agrees that, as of the Separation Date, Employee will be deemed to have automatically resigned
as, to the extent applicable: (a) as an officer of the Company and each affiliate of the Company for which Employee served as an officer;
(b) from the board of directors or board of managers (or similar governing body) of the Company and each affiliate of the Company for
which Employee served as a director or manager; and (c) from the board of directors or board of managers (or similar governing body)
of any corporation, limited liability entity, unlimited liability entity or other entity in which the Company or any other affiliate
of the Company holds an equity interest and with respect to which board of directors or board of managers (or similar governing body)
Employee served as the Company’s or such other affiliate’s member’s designee or other representative.  

 

2.
Separation Benefits. Provided that Employee (i) executes this Agreement within 21 days of February 10,
2022, which is the date this Agreement is presented to Employee, and returns such executed Agreement to the Company such that it is received
by the Company, c/o Nicholas Stork at 4444 Westheimer Road, Suite G450, Houston, TX 77027 or via email at nstork@archaea.energy on or
before 11:59 p.m., Central Standard Time, on February 10, 2022, , (ii) re-executes this Agreement on the Separation Date or within 21 days
thereafter in accordance with Section 6 and (iii) abides by each of Employee’s commitments set forth herein, then:

 

(a) the
Company shall pay or cause to be paid severance pay to Employee in a total amount of $2,950,000, less applicable taxes and withholdings
(the “Severance Payment”). The Severance Payment shall be paid in a single lump sum within 60 days after the
Separation Date, but in no event before the Second Release Effective Date (as defined in Section 6) (the “Separation
Payment Date”);

 

     

     

    

 

(b) the
Company will cause the 62,750 outstanding restricted stock units in the Company granted to Employee on December 29, 2021 (the “RSU
Award”) to fully vest and become nonforfeitable as of the Separation Date, and, on or before the Separation Payment Date,
the Company shall deliver to Employee the number of shares of the Company’s Class A common stock, par value $0.0001 per share (“Stock”),
equal to the total number of shares of Stock subject to the RSU Award in accordance with the settlement provisions of the grant notice
and award agreement evidencing the grant of the RSU Award (collectively, the “Award Agreement”) and the applicable
terms and conditions of the Archaea Energy Inc. 2021 Omnibus Incentive Plan (as amended, supplemented or restated from time to time, the
“Plan”); and

 

(c) subject
to Employee’s timely election of continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended
(“COBRA”), the Company shall pay or cause to be paid to Employee an amount equal to (A) 12; multiplied by (B)
the difference between the monthly amount Employee pays to effect and continue such coverage and the monthly employee contribution amount
that Employee paid for coverage under the Company’s group health plans immediately prior to the Separation Date (the “COBRA
Benefit”). The COBRA Benefit shall be paid in a single lump sum on the Separation Payment Date.

 

The payments and benefits
set forth in this Section 2 are referred to herein collectively as the “Separation Benefits”.

 

3.
Satisfaction of All Leaves and Payment Amounts; Prior Rights and Obligations. In entering into this Agreement,
Employee expressly acknowledges and agrees that Employee has received all leaves (paid and unpaid) to which Employee has been entitled
during Employee’s employment with the Company or any other Company Party, and Employee has received all wages, bonuses and other
compensation, been provided all benefits and been afforded all rights and been paid all sums that Employee is owed or has been owed by
the Company or any other Company Party, including all payments arising out of all incentive plans and any other bonus arrangements. Notwithstanding
the foregoing, Employee remains entitled to receive Employee’s current annualized base salary and benefits for services performed
between the date that Employee signs this Agreement and the Separation Date. For the avoidance of doubt, Employee acknowledges and agrees
that Employee had no right to the Separation Benefits (or any portion thereof) but for Employee’s entry into this Agreement and
satisfaction of the terms herein. For the avoidance of doubt, the Parties acknowledge and agree that all severance obligations of the
Company or any other Company Party pursuant to any offer letter or employment agreement between Employee and any Company Party, including
that certain Offer Letter entered into between Employee and Archaea Energy, LLC dated as of April 15, 2021 (the “Offer Letter”)
and that certain Compensation Letter entered into between Employee and the Company dated as of June 25, 2021 (together with the Offer
Letter, the “Offer Letters”) have been fully and finally satisfied or otherwise waived by Employee in exchange
for good and valuable consideration provided herein, including the Severance Benefits.

 

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4.
General Release of Claims.

 

(a) For
good and valuable consideration (including the Separation Benefits), Employee hereby forever releases, discharges and acquits the Company
and each of its affiliates, and each of the foregoing entities’ respective predecessors, successors, assigns, shareholders, members,
partners, officers, managers, directors, fiduciaries, employees, contractors, representatives, insurers, agents and benefit plans (and
the trustees, administrators and fiduciaries of such plans), in their personal and representative capacities (collectively, the “Company
Parties” or any one, individually, a “Company Party”), from liability for, and Employee hereby
waives, any and all claims, damages, demands, or causes of action of any kind that Employee has or could have, whether known or unknown,
suspected or unsuspected, against any Company Party, including any and all claims, damages, demands, or causes of action relating to Employee’s
employment, engagement or affiliation with any Company Party, the termination of such employment, engagement or affiliation, status as
an equityholder or shareholder of any Company Party, or any other acts or omissions related to any matter occurring or existing on or
prior to the time that Employee executes this Agreement, including, (i) any alleged violation through such time of: (A) Title VII of the
Civil Rights Act of 1964; (B) the Civil Rights Act of 1991; (C) Sections 1981 through 1988 of Title 42 of the United States Code; (D)
the Americans with Disabilities Act of 1990; (E) the Employee Retirement Income Security Act of 1974 (“ERISA”);
(F) the Immigration Reform Control Act; (G) the Americans with Disabilities Act of 1990; (H) the Occupational Safety and Health Act;
(I) the Age Discrimination in Employment Act of 1967 (including the Older Workers Benefit Protection Act); (J) the Worker Adjustment and
Retraining Notification Act of 1988; (K) the Texas Labor Code (including the Texas Payday Law the Texas Anti-Retaliation Act, Chapter
21 of the Texas Labor Code, and the Texas Whistleblower Act) and amendments to those laws; (L) any federal, state, municipal or local
anti-discrimination or anti-retaliation law; (M) any federal, state, municipal or local wage and hour law; (N) any other local, municipal,
state, or federal law, regulation or ordinance; and (O) any public policy, contract, tort, or common law claim, including claims for breach
of fiduciary duty, fraud, breach of implied or express contract, breach of implied covenant of good faith and fair dealing, wrongful discharge
or termination, promissory estoppel, defamation, infliction of emotional distress, or tortious interference; (ii) any allegation for costs,
fees, or other expenses including attorneys’ fees incurred in, or with respect to, a Released Claim; (iii) any and all rights, benefits
or claims Employee may have under any employment contract or offer letter (including the Offer Letters), incentive compensation plan,
equity-based plan, or other agreement with any Company Party (including the Plan and Award Agreement); and (iv) any claim for compensation,
paid time off, benefits, or damages of any kind not expressly set forth in this Agreement (collectively, the “Released Claims”).
THIS RELEASE INCLUDES MATTERS ATTRIBUTABLE TO THE SOLE OR PARTIAL NEGLIGENCE (WHETHER GROSS OR SIMPLE) OR OTHER FAULT, INCLUDING STRICT
LIABILITY, OF ANY OF THE COMPANY PARTIES.

 

(b) The
Released Claims do not include (i) any rights or claims that may first arise after the time that Employee executes this Agreement (including
any claims to the Separation Benefits); (ii) any claim to vested benefits under an employee benefit plan of a Company Party that is subject
to ERISA (including any rights to vested benefits under health and retirement plans) or (iii) any directors’ and officers’
liability insurance policy of which Employee is a beneficiary. Further notwithstanding this release of liability, nothing in this Agreement
prevents Employee from filing any non-legally waivable claim (including a challenge to the validity of this Agreement) with the Equal
Employment Opportunity Commission (“EEOC”) or other governmental agency or participating in any investigation
or proceeding conducted by the EEOC or other governmental agency or cooperating with such agency; however, Employee understands and agrees
that, to the extent permitted by law, Employee is waiving any and all rights to recover any monetary or personal relief from any Company
Party as a result of such EEOC or other governmental agency proceeding or subsequent legal actions. Nothing herein waives Employee’s
right to receive an award for information provided to a governmental agency.

 

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(c) Employee
hereby agrees not to bring or cause to be brought any Released Claims and represents and warrants that, as of the time Employee executes
this Agreement, Employee has not brought or joined any lawsuit or filed any charge or claim against any of the Company Parties in any
court or before any government agency or arbitrator for or with respect to a matter, claim or incident that occurred or arose out of one
or more occurrences that took place on or prior to the time at which Employee signs this Agreement. In addition, Employee shall not encourage,
counsel or assist any non-governmental attorneys or their clients in the presentation or prosecution of any disputes, differences, grievances
or Released Claims by any non-governmental third party against any of the Company Parties. Employee hereby further represents and warrants
that Employee has not assigned, sold, delivered, transferred or conveyed any rights Employee has asserted or may have against any of the
Company Parties to any person or entity, in each case, with respect to any Released Claims.

 

5.
Employee’s Acknowledgements. By executing and delivering this Agreement, Employee acknowledges and agrees
that:

 

(a) Employee
has carefully read this Agreement;

 

(b) No
material changes have been made to this Agreement since it was first provided to Employee and Employee has been given sufficient time
(and at least 21 days) to review this Agreement and consider whether to accept this Agreement before signing it;

 

(c) Employee
has seven days after signing this Agreement to revoke it. This Agreement will not become effective or enforceable until the revocation
period has expired. Any notice of revocation of this Agreement is effective only if received by the Company, c/o Nicholas Stork, at 4444
Westheimer Road, Suite G450, Houston, TX 77027 or via email at nstork@archaea.energy in writing by 11:59 p.m., Central Standard Time,
on or before the seventh day after Employee signs this Agreement. Employee understands that if Employee revokes Employee’s acceptance
of this Agreement pursuant to this Section 5(c), Sections 2 and 4 shall be of no force or effect and the remainder
of this Agreement will remain in full force and effect;

 

(d) Employee
has been advised, and hereby is advised in writing, to discuss this Agreement with an attorney of Employee’s choice and Employee
has had adequate opportunity to do so prior to executing and delivering this Agreement;

 

(e) Employee
fully understands the final and binding effect of this Agreement; the only promises made to Employee to sign this Agreement are those
stated within the four corners of this Agreement; and Employee is signing this Agreement knowingly, voluntarily and of Employee’s
own free will, and that Employee understands and agrees to each of the terms and conditions of this Agreement; and

 

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(f) No
Company Party has provided any tax or legal advice regarding this Agreement and Employee has had an adequate opportunity to receive sufficient
tax and legal advice from advisors of Employee’s own choosing such that Employee enters into this Agreement with full understanding
of the tax and legal implications thereof.

 

6.
Re-Execution of Agreement. The Company’s obligations under Section 2 are strictly contingent upon
Employee’s re-execution and non-revocation of this Agreement on the Separation Date or within 21 days thereafter. The date of Employee’s
re-execution of this Agreement is referred to herein as the “Re-Execution Date”. By re-executing this Agreement, Employee
advances to the Re-Execution Date Employee’s general waiver and release of all Released Claims against the Company Parties and
the other covenants set forth in Section 4. Employee has seven calendar days from the Re-Execution Date to revoke Employee’s
re-execution of this Agreement in accordance with Section 5(c). In the event of such revocation by Employee, the date of the releases
and covenants set forth in Section 4 shall not be advanced, but shall remain effective up to and including the date upon which
Employee originally signs this Agreement. Provided that Employee does not revoke Employee’s re-execution of this Agreement within
such seven-day period, the “Second Release Effective Date” shall occur on the eighth calendar day after the date on
which Employee re-executes it.

 

7.
Restrictive Covenants. Employee acknowledges and agrees that, as a material inducement for the Company to enter
into this Agreement and a condition of Employee’s receipt of the Separation Benefits, Employee agrees to the restrictive covenants
set forth on Exhibit A (the “Restrictive Covenant Agreement”), the provisions of which are hereby fully
incorporated herein by reference. Employee acknowledges that Employee has read and understands the terms of the restrictive covenants
set forth in the Restrictive Covenant Agreement, including, specifically, the scope and duration thereof, and acknowledges and agrees
that the terms of such Restrictive Covenant Agreement are in addition to any other restrictive covenants to which Employee is subject
or otherwise bound (collectively, the “Restrictive Covenants”). In entering into this Agreement, Employee acknowledges
the continued effectiveness and enforceability of the Restrictive Covenants and expressly reaffirms Employee’s commitment to abide
by, and promises to abide by, the terms of the Restrictive Covenants.

 

8.
Consulting Services. As a material inducement for the Company to enter into this Agreement and provide the Separation
Benefits to Employee, during the 12-month period immediately following the Separation Date (the “Consulting Period”),
Employee agrees that the Board may from time to time request that Employee provide consultation services to the Company in the capacity
of an independent contractor, subject to mutual agreement between Employee and the Board (the “Services”).
During the Consulting Period, Employee shall not receive any additional compensation for providing the Services and Employee shall be
an independent contractor and shall not participate in any pension or welfare benefit plans, programs or arrangements of the Company
or any other Company Party unless such benefits are made available to Employee by operation of law and due to Employee former employment
status with the Company.

 

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9.
Entire Agreement. This Agreement (including the Restrictive Covenant Agreement) constitutes the entire agreement
between Employee, on the one hand, and the Company or any of its affiliates (as applicable), on the other hand, with respect to the matters
herein provided. Notwithstanding the foregoing, the restrictions set forth in Section 7 complement and are in addition to (and
do not supersede or replace) all of Employee’s obligations (whether contractual, statutory or at common law) with respect to non-disclosure,
and the protection of, confidential information. No modifications or waiver of any provision hereof shall be effective unless in writing
and signed by each Party.

 

10.
Governing Law and Jurisdiction. This Agreement shall be construed according to the laws of the State of Texas
without regard to its conflict of laws principles that would result in the application of the laws of another jurisdiction.

 

11.
Arbitration.

 

(a) Subject
to Section 11(b), any controversy or claim between Employee and the Company or any other Company Party arising out of or relating
to this Agreement shall be finally settled by confidential arbitration in Houston, Texas before, and in accordance with the then-existing
American Arbitration Association (“AAA”) arbitration rules. The arbitration award shall be final and binding
on the Parties. The Parties agree that all disputes shall be arbitrated on an individual basis, and they forego and waive any right to
arbitrate any dispute as a class action or collective action or on a consolidated basis or in a representative capacity on behalf of other
persons or entities who are claimed to be similarly situated, or to participate as a class member in such a proceeding. Any arbitration
conducted under this Section 11 shall be heard by a single arbitrator (the “Arbitrator”) selected
in accordance with the then-applicable rules of the AAA. The Arbitrator shall expeditiously hear and decide all matters concerning the
dispute. Except as expressly provided to the contrary in this Agreement, the Arbitrator shall have the power to (i) gather such materials,
information, testimony and evidence as the Arbitrator deems relevant to the dispute before him or her (and each disputing party will provide
such materials, information, testimony and evidence requested by the Arbitrator), and (ii) grant injunctive relief and enforce specific
performance. The decision of the Arbitrator shall be reasoned, rendered in writing, final and binding upon the disputing parties, and
the Parties acknowledge and agree that judgment upon the award may be entered by any court of competent jurisdiction. This Section
11(a) shall be governed by the Federal Arbitration Act, 9 U.S.C. § 1, et seq.

 

(b) Notwithstanding
Section 11(a), a Party may make a timely application for, and obtain, judicial emergency or temporary injunctive relief to enforce
the Restrictive Covenants; provided, however, that the remainder of any such dispute (beyond the application for emergency or temporary
injunctive relief) shall be subject to arbitration under this Section 11. Nothing in this Section 11 shall preclude Employee
from filing a charge or complaint with a federal, state or other Governmental Agency.

 

(c) EACH
OF THE PARTIES HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY OR A COURT TRIAL IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM ARISING
OUT OF OR RELATING TO THIS AGREEMENT.

 

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12.
Headings; Interpretation. Titles and headings to Sections hereof are for the purpose of reference only and shall
in no way limit, define or otherwise affect the provisions hereof. Unless the context requires otherwise, all references herein to a
law, regulation, agreement, instrument or other document shall be deemed to refer to such law, regulation, agreement, instrument or other
document as amended, supplemented, modified and restated from time to time to the extent permitted by the provisions thereof, and references
to particular provisions of laws or regulations include a reference to the corresponding provisions of any succeeding law or regulation.
The word “or” as used herein is not exclusive and is deemed to have the meaning “and/or.” The words “herein,”
“hereof,” “hereunder” and other compounds of the word “here” shall refer to the entire Agreement,
and not to any particular provision hereof. The use herein of the word “including” following any general statement, term
or matter shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following
such word or to similar items or matters, whether or not non-limiting language (such as “without limitation,” “but
not limited to,” or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items
or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter. Neither this Agreement
nor any uncertainty or ambiguity herein shall be construed or resolved against any Party, whether under any rule of construction or otherwise.
On the contrary, this Agreement has been reviewed by each of the Parties and shall be construed and interpreted as if drafted jointly
by the Parties and according to the ordinary meaning of the words used so as to fairly accomplish the purposes and intentions of the
Parties.

 

13.
Third Party Beneficiaries. Each Company Party that is not a signatory hereto shall be a third-party beneficiary
of Employee’s covenants, warranties, representations and release of claims set forth in this Agreement and entitled to enforce
such provisions as if it was a party hereto.

 

14.
Return of Property. Employee represents and warrants to the other Parties that Employee has returned, or within
five days following the Separation Date Employee will have returned, to the Company all property belonging to the Company and any other
Company Party, including all computer files and other electronically stored information, applicable passwords and other materials provided
to Employee by the Company or any other Company Party in the course of Employee’s employment, and Employee further represents and
warrants to the other Parties that Employee has not maintained or, after the date that is two days following the Separation Date, Employee
will not maintain, a copy of any such materials in any form.

 

15.
Cooperation. Following the Separation Date and for 24 months thereafter, upon request from the Company or any
other Company Party, Employee agrees to cooperate with members of the Company Party as well as their respective counsel, agents or other
designees, in order to provide such information and assistance as the Company or such other Company Party may reasonably request with
respect to the duties that Employee had performed for any Company Party.

 

16.
No Waiver. No failure by any Party at any time to give notice of any breach by the other Party of, or to require
compliance with, any condition or provision of this Agreement shall be deemed a waiver of similar or dissimilar provisions or conditions
at the same or at any prior or subsequent time.

 

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17.
Assignment. This Agreement is personal to Employee and may not be assigned by Employee. The Company may assign
its rights and obligations under this Agreement without Employee’s consent, including to any other Company Party and to any successor
(whether by merger, purchase or otherwise) to all or substantially all of the equity, assets or businesses of the Company.

 

18.
Severability and Modification. To the extent permitted by applicable law, the Parties agree that any term or
provision of this Agreement (or part thereof) that renders such term or provision (or part thereof) or any other term or provision (or
part thereof) of this Agreement invalid or unenforceable in any respect shall be severable and shall be modified or severed to the extent
necessary to avoid rendering such term or provision (or part thereof) invalid or unenforceable, and such severance or modification shall
be accomplished in the manner that most nearly preserves the benefit of the Parties’ bargain hereunder.

 

19.
Withholding of Taxes and Other Employee Deductions. The Company may, or may direct any other Company Party to,
withhold from any payment made pursuant to this Agreement all federal, state, local, and other taxes as may be required pursuant to any
law or governmental regulation or ruling.

 

20.
Counterparts. This Agreement may be executed in one or more counterparts (including portable document format
(.pdf) and facsimile counterparts), each of which shall be deemed to be an original, but all of which together will constitute one and
the same agreement.

 

21.
Section 409A. This Agreement and the payments provided hereunder are intended be exempt from the requirements
of Section 409A of the Internal Revenue Code of 1986, as amended, and the Treasury regulations and interpretive guidance issued thereunder
(collectively, “Section 409A”) and shall be construed and administered in accordance with such intent. Notwithstanding
the foregoing, the Company makes no representations that the benefits provided under this Agreement are exempt from the requirements
of Section 409A and in no event shall the Company or any other Company Party be liable for all or any portion of any taxes, penalties,
interest, or other expenses that may be incurred by Employee on account of non-compliance with Section 409A.

 

[Remainder of Page Intentionally
Blank;

Signature Page Follows.]

 

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IN WITNESS WHEREOF, Employee
and the Company each have caused this Agreement to be executed, or re-executed, as applicable, as of the dates set forth beneath their
names below and effective for all purposes as provided above.

 

	 	EMPLOYEE
	 	 
	 	/s/ Eric Javidi
	 	Eric Javidi
	 	 
	 	Date:	February 10, 2022
	 	 
	 	ARCHAEA ENERGY INC.
	 	 
	 	By:	/s/ Nick Stork
	 	 	Name:	Nick Stork
	 	 	Title:	Chief Executive Officer
	 	 
	 	Date:	 
	 	 
	 	RE-EXECUTED
	 	 
	 	NOT TO BE SIGNED PRIOR TO THE SEPARATION DATE
	 	 
	 	 
	 	Eric Javidi
	 	 
	 	Date:	 

 

Signature
Page to

Separation
and Release Agreement

 

     

     

    

 

EXHIBIT A

 

RESTRICTIVE COVENANT AGREEMENT

 

1.
Confidentiality. In the course of Employee’s employment with the Company or its applicable subsidiary
and in the performance of Employee’s duties on behalf of the Company and each of its direct and indirect past, present and future
subsidiaries and affiliates (collectively, the “Company Group”), Employee has been provided with, and has had
access to, Confidential Information (as defined below). In consideration of Employee’s receipt of Confidential Information and
access to such Confidential Information and in exchange for other valuable consideration provided under the Separation Agreement, and
as a condition to Employee’s receipt of such valuation consideration, Employee shall be subject to the covenants and restrictions
in this Section 1 and in Sections 2, 3, 4 and 5.

 

(a) In
General. Both during the period that Employee is employed or engaged by or affiliated with the Company or any other member of the
Company Group (the “Employment Period”) and thereafter, except as expressly permitted by this Restrictive Covenant
Agreement, Employee shall not disclose any Confidential Information to any person or entity and shall not use any Confidential Information
except for the benefit of the Company Group. Employee acknowledges and agrees that Employee would inevitably use and disclose Confidential
Information in violation of this Section 1 if Employee were to violate any of the covenants set forth in Section 3. Employee
shall follow all Company Group policies and protocols regarding the security of all documents and other materials containing Confidential
Information (regardless of the medium on which Confidential Information is stored). The covenants of this Section 1 shall apply
to all Confidential Information, whether now known or later to become known to Employee during the period that Employee is employed or
engaged by or affiliated with the Company or any other member of the Company Group.

 

(b) Permitted
Disclosures. Notwithstanding any provision of Section 1(a) to the contrary, Employee may make the following disclosures and
uses of Confidential Information: (i) disclosures to other employees of a member of the Company Group who have a need to know the information
in connection with the businesses of the Company Group; (ii) disclosures and uses that are approved in writing by the Company; or (iii)
disclosures to a person or entity that has (A) been retained by a member of the Company Group to provide services to one or more members
of the Company Group and (B) agreed in writing to abide by the terms of a confidentiality agreement in a form acceptable to the Company.

 

(c) Return of Confidential
Information. Upon the expiration of Employee’s Employment Period, and at any other time upon request of the Company,
Employee shall promptly surrender and deliver to the Company all documents (including electronically stored information) and all
copies thereof and all other materials of any nature containing or pertaining to all Confidential Information and any other Company
Group property (including any Company Group-issued computer, mobile device or other property or equipment) in Employee’s
possession, custody or control and Employee shall not retain any such documents or other materials or property of the Company Group.
Within five days of any such request, Employee shall certify to the Company in writing that all such documents, materials and
property have been returned to the Company.

 

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(d) Additional
Permitted Disclosures. Notwithstanding the foregoing, nothing in this Restrictive Covenant Agreement shall prohibit or restrict Employee
from lawfully: (i) initiating communications directly with, cooperating with, providing information to, causing information to be provided
to, or otherwise assisting in an investigation by, any governmental authority regarding a possible violation of any law; (ii) responding
to any inquiry or legal process directed to Employee from any such governmental authority; (iii) testifying, participating or otherwise
assisting in any action or proceeding by any such governmental authority relating to a possible violation of law; or (iv) making any other
disclosures that are protected under the whistleblower provisions of United States federal, state or local law or regulation; provided,
that Employee use reasonable best efforts to (A) disclose only information that is reasonably related to such possible violations or that
is requested by such agency or entity, and (B) request that such agency or entity treat such information as confidential. Additionally,
pursuant to the federal Defend Trade Secrets Act of 2016, Employee shall not be held criminally or civilly liable under any federal or
state trade secret law for the disclosure of a trade secret that: (I) is made (x) in confidence to a federal, state or local government
official, either directly or indirectly, or to an attorney and (y) solely for the purpose of reporting or investigating a suspected violation
of law; (II) is made to Employee’s attorney in relation to a lawsuit for retaliation against Employee for reporting a suspected
violation of law; or (III) is made in a complaint or other document filed in a lawsuit or proceeding, if such filing is made under seal.
Nothing in this Restrictive Covenant Agreement requires Employee to obtain prior authorization before engaging in any conduct described
in this Section 1(d), or to notify any member of the Company Group that Employee has engaged in any such conduct.

 

2.
Non-Solicitation.

 

(a) The
Company has provided Employee access to Confidential Information for use only during the Employment Period and in consideration of the
Company having provided Employee with access to Confidential Information and as an express condition for the Company to pay or provide
the Severance Benefits to Employee, Employee has voluntarily agreed to the covenants set forth in this Section 3. Employee agrees
and acknowledges that the limitations and restrictions set forth herein, including geographical and temporal restrictions on certain competitive
activities, are reasonable in all respects, do not interfere with public interests, will not cause Employee undue hardship, and are intended
and necessary to prevent unfair competition and to protect the Company Group’s Confidential Information, goodwill and legitimate
business interests.

 

(b) During
the Employment Period and continuing for a period of twelve (12) months thereafter (the “Prohibited Period”),
Employee shall not, without the prior written approval of the Company, directly or indirectly (other than on behalf of a member of the
Company Group), for Employee or on behalf of or in conjunction with any other person or entity of any nature:

 

(i) solicit,
canvass, approach, encourage, entice or induce, or attempt to solicit, canvass, approach, encourage, entice or induce any current or prospective
customer or supplier of any member of the Company Group for whom or which Employee had direct or indirect responsibility for any member
of the Company Group, or about whom or which Employee obtained any Confidential Information, to cease or lessen such customer’s
or supplier’s business with any member of the Company Group or otherwise adversely interfere with such relationship; or

 

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(ii) solicit,
canvass, approach, encourage, entice or induce any employee or contractor of any member of the Company Group to terminate or reduce his,
her or its employment or engagement with any member of the Company Group or otherwise adversely interfere with such relationship.

 

(c) Because
of the difficulty of measuring economic losses to the Company Group as a result of a breach or threatened breach of the covenants set
forth in Section 1 and in this Section 3, and because of the immediate and irreparable damage that would be caused to the
members of the Company Group for which they would have no other adequate remedy, the Company and each other member of the Company Group
shall be entitled to enforce the foregoing covenants, in the event of a breach or threatened breach, by injunctions and restraining orders
from any court of competent jurisdiction, without the necessity of showing any actual damages or that money damages would not afford an
adequate remedy, and without the necessity of posting any bond or other security. The aforementioned equitable relief shall not be the
Company’s or any other member of the Company Group’s exclusive remedy for a breach but instead shall be in addition to all
other rights and remedies available to the Company and each other member of the Company Group, at law and equity.

 

(d) The
covenants in this Section 3, and each provision and portion hereof, are severable and separate, and the unenforceability of any
specific covenant (or portion thereof) shall not affect the provisions of any other covenant (or portion thereof). Moreover, in the event
any arbitrator or court of competent jurisdiction shall determine that the scope, time or territorial restrictions set forth are unreasonable,
then it is the intention of the parties that such restrictions be severed or reformed, and then enforced to the fullest extent which such
arbitrator or court deems reasonable, and this Restrictive Covenant Agreement shall thereby be reformed.

 

3.
Non-Disparagement. Subject to Section 1(d), Employee agrees that Employee will not (and will not cause
or direct any person or entity to), directly or indirectly, at any time from the date Employee signs this Agreement through the three-year
anniversary thereof (the “Non-Disparagement Period”), make, publish or communicate to any person, entity or
organization, any defamatory, negative or disparaging remarks, comments or statements concerning the Company Group or its businesses,
products or services, or any of its or their employees, investors, members, officers, attorneys, directors, owners, agents, customers,
suppliers, investors and other business relations. The Company will not counsel any of the Company’s executive officers or members
of the Board to, at any time during the Non-Disparagement Period, make, publish, or communicate to any person or entity or organization,
any defamatory, negative or disparaging remarks, comments, or statements concerning Employee. The foregoing will not be violated by truthful
statements in response to legal process, required governmental testimony or filings, or administrative or arbitral proceedings (including
depositions in connection with such proceedings).

 

4.
Consent to Notification. Employee hereby grants consent to notification by the Company Group to any new employer,
any third party engaging Employee’s services, or any entity to which Employee becomes a partner, member, employee or otherwise
engaged about Employee’s rights and obligations under this Restrictive Covenant Agreement.

 

5.
EMPLOYEE REPRESENTATION. EMPLOYEE REPRESENTS AND WARRANTS THAT EMPLOYEE HAS (a) READ AND UNDERSTOOD EACH
PROVISION OF THIS RESTRICTIVE COVENANT AGREEMENT, (b) HAD THE OPPORTUNITY TO OBTAIN ADVICE FROM LEGAL COUNSEL OF EMPLOYEE’S CHOICE
IN ORDER TO INTERPRET ANY AND ALL PROVISIONS OF THIS RESTRICTIVE COVENANT AGREEMENT, (c) HAD THE OPPORTUNITY TO ASK THE COMPANY QUESTIONS
ABOUT THIS RESTRICTIVE COVENANT AGREEMENT AND ANY OF SUCH QUESTIONS HAVE BEEN ANSWERED TO EMPLOYEE’S SATISFACTION, AND (d) BEEN
GIVEN A COPY OF THIS RESTRICTIVE COVENANT AGREEMENT.

 

 

A-3Exhibit 10.9

 

Prenetics
GLOBAL Limited

 

2022 SHARE INCENTIVE PLAN

 

ARTICLE 1

 

PURPOSE

 

The
purpose of the 2022 Share Incentive Plan of Prenetics Global Limited (the “Plan”) is to promote the success and enhance
the value of Prenetics Global Limited, an exempted company incorporated under the laws of the Cayman Islands (the “Company”),
by linking the personal interests of the Directors, Employees, and Consultants to those of the Company’s shareholders and by providing
such individuals with an incentive for outstanding performance to generate superior returns to the Company’s shareholders.

 

ARTICLE 2

 

DEFINITIONS AND CONSTRUCTION

 

Wherever the following terms
are used in the Plan they shall have the meanings specified below, unless the context clearly indicates otherwise. The singular pronoun
shall include the plural where the context so indicates.

 

2.1           “Applicable
Laws” means the legal requirements relating to the Plan and the Awards under applicable provisions of the corporate, securities,
tax and other laws, rules, regulations and government orders, and the rules of any applicable stock exchange or national market system,
of any jurisdiction applicable to Awards granted to residents therein.

 

2.2            “Award”
means an Option, a Restricted Share, a Restricted Share Unit, share appreciation rights or other types of awards approved by the Committee
granted to a Participant pursuant to the Plan.

 

2.3            “Award
Agreement” means any written agreement, contract, or other instrument or document evidencing an Award, including through electronic
medium.

 

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

 

     

     

    

 

2.5            “Cause”
with respect to a Participant means (unless otherwise expressly provided in the applicable Award Agreement, or another applicable contract
with the Participant that defines such term for purposes of determining the effect that a “for cause” termination has on the
Participant’s Awards) a termination of employment or service based upon a finding by the Service Recipient, acting in good faith
and based on its reasonable belief at the time, that the Participant:

 

(a)            has
been negligent in the discharge of his or her duties to the Service Recipient, has refused to perform stated or assigned duties or is
incompetent in or (other than by reason of a disability or analogous condition) incapable of performing those duties;

 

(b)            has
been dishonest or committed or engaged in an act of theft, embezzlement or fraud, a breach of confidentiality, an unauthorized disclosure
or use of inside information, customer lists, trade secrets or other confidential information;

 

(c)            has
breached a fiduciary duty, or willfully and materially violated any other duty, law, rule, regulation or policy of the Service Recipient;
or has been convicted of, or plead guilty or nolo contendere to, a felony or misdemeanor (other than minor traffic violations or similar
offenses);

 

(d)            has
materially breached any of the provisions of any agreement with the Service Recipient;

 

(e)            has
engaged in unfair competition with, or otherwise acted intentionally in a manner injurious to the reputation, business or assets of, the
Service Recipient; or

 

(f)            has
improperly induced a vendor or customer to break or terminate any contract with the Service Recipient or induced a principal for whom
the Service Recipient acts as agent to terminate such agency relationship.

 

A termination for Cause shall
be deemed to occur (subject to reinstatement upon a contrary final determination by the Committee) on the date on which the Service Recipient
first delivers written notice to the Participant of a finding of termination for Cause.

 

2.6            “CEO”
means the Chief Executive Officer of the Company.

 

2.7            “Code”
means the Internal Revenue Code of 1986 of the United States, as amended.

 

2.8           “Committee”
shall mean a committee of one or more members of the Board and/or one or more executive officers of the Company delegated by the Board
to administer the Plan, unless no committee has been delegated by the Board to administer the Plan, in which case the full Board shall
constitute the Committee. To the extent necessary to comply with applicable rules and regulations, the Committee shall consist of
two or more Independent Directors.

 

2.9           “Consultant”
means any consultant or adviser if: (a) the consultant or adviser renders bona fide services to a Service Recipient; (b) the
services rendered by the consultant or adviser are not in connection with the offer or sale of securities in a capital-raising transaction
and do not directly or indirectly promote or maintain a market for the Company’s securities; and (c) the consultant or adviser
is a natural person who has contracted directly with the Service Recipient to render such services.

 

    2 

     

    

 

2.10            “Corporate
Transaction”, unless otherwise defined in an Award Agreement, means any of the following transactions, provided, however, that
the Committee shall determine under (e) and (f) whether multiple transactions are related, and its determination shall be final,
binding and conclusive:

 

(a)            an
amalgamation, arrangement, merger or consolidation or scheme of arrangement (i) in which the Company is not the surviving entity,
except for a transaction the principal purpose of which is to change the jurisdiction in which the Company is incorporated, or (ii) following
the completion of which the holders of the voting securities of the Company immediately prior to the transaction or their respective affiliates
do not continue to hold more than 50% of the combined voting power of the voting securities of the surviving entity (or, as applicable,
any Parent of such surviving entity) immediately following the transaction;

 

(b)          the
individuals who, as of the Effective Date, are members of the Board (the “Incumbent Board”), cease for any reason to
constitute at least fifty percent (50%) of the Board; provided, that if the election, or nomination for election by the Company’s
shareholders, of any new member of the Board is approved by a vote of at least fifty percent (50%) of the Incumbent Board, such new member
of the Board shall be considered as a member of the Incumbent Board;

 

(c)            the
sale, transfer or other disposition of all or substantially all of the assets of the Company;

 

(d)            the
complete liquidation or dissolution of the Company;

 

(e)            any
reverse takeover or series of related transactions culminating in a reverse takeover (including, but not limited to, a tender offer followed
by a reverse takeover) in which the Company is the surviving entity but (A) the Company’s equity securities outstanding immediately
prior to such takeover are converted or exchanged by virtue of the takeover into other property, whether in the form of securities, cash
or otherwise, or (B) in which securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s
outstanding securities are transferred to a person or persons (other than to an affiliate) different from those who held such securities
immediately prior to such takeover or the initial transaction culminating in such takeover, but excluding any such transaction or series
of related transactions that the Committee determines shall not be a Corporate Transaction; or

 

(f)            acquisition
in a single or series of related transactions by any person or related group of persons (other than the Company or by a Company-sponsored
employee benefit plan) of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities possessing more
than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities but excluding any such transaction
or series of related transactions that the Committee determines shall not be a Corporate Transaction; provided, however,
that any of the following acquisitions shall not be deemed to be a Corporate Transaction: (1) by the Company, any Parent, Subsidiary
or Related Entity, (2) by any employee benefit plan (or related trust) sponsored or maintained by the Company, any Parent, Subsidiary
or Related Entity, or (3) by any underwriter temporarily holding securities pursuant to an offering of such securities.

 

Notwithstanding the foregoing,
in no event will the transactions contemplated by that certain Business Combination Agreement entered into on September 15, 2021,
by and among the Company, Artisan Acquisition Corp., and certain other parties (the “Business Combination Agreement”)
or the transactions occurring in connection therewith constitute a Corporate Transaction.

 

    3 

     

    

 

2.11            “Director”
means a member of the Board or a member of the board of directors of any Subsidiary of the Company.

 

2.12           “Disability”,
unless otherwise defined in an Award Agreement, means that the Participant qualifies to receive long-term disability payments under the
Service Recipient’s long-term disability insurance program, as it may be amended from time to time, to which the Participant provides
services regardless of whether the Participant is covered by such policy. If the Service Recipient to which the Participant provides service
does not have a long-term disability plan in place, “Disability” means that a Participant is unable to carry out the responsibilities
and functions of the position held by the Participant by reason of any medically determinable physical or mental impairment for a period
of not less than ninety (90) consecutive days. A Participant will not be considered to have incurred a Disability unless he or she furnishes
proof of such impairment sufficient to satisfy the Committee in its discretion.

 

2.13            “Effective
Date” shall have the meaning set forth in Section 11.1.

 

2.14            “Employee”
means any person employed by the Company or Subsidiary of the Company.

 

2.15           “Employee
Share Purchase Program” shall mean the Employee Share Purchase Program adopted by the Committee in accordance with Appendix D
hereto.

 

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

 

2.17            “Fair
Market Value” means, as of any date, the value of Shares determined as follows:

 

(a)            If
the Shares are listed on one or more established stock exchanges or national market systems, including without limitation, The New York
Stock Exchange or The Nasdaq Stock Market, the Fair Market Value shall be the closing sales price for such shares (or the closing bid,
if no sales were reported) as quoted on the principal exchange or system on which the Shares are listed (as determined by the Committee)
on the date of determination (or, if no closing sales price or closing bid was reported on that date, as applicable, on the last trading
date such closing sales price or closing bid was reported), as reported in on the website maintained by such exchange or market system
or such other source as the Committee deems reliable;

 

(b)          If
the Shares are regularly quoted on an automated quotation system (including the OTC Bulletin Board) or by a recognized securities dealer,
the Fair Market Value shall be the closing sales price for such shares as quoted on such system or by such securities dealer on the date
of determination, but if selling prices are not reported, the Fair Market Value of a Share shall be the mean between the high bid and
low asked prices for the Shares on the date of determination (or, if no such prices were reported on that date, on the last date such
prices were reported), as reported in The Wall Street Journal or such other source as the Committee deems reliable; or

 

    4 

     

    

 

(c)            In
the absence of an established market for the Shares of the type described in (a) and (b), above, the Fair Market Value thereof shall
be determined by the Committee in good faith and in its discretion.

 

2.18            “Incentive
Share Option” means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision
thereto.

 

2.19           “Independent
Director” means (i) if the Shares or other securities representing the Shares are not listed on a stock exchange, a Director
of the Company who is a Non-Employee Director; and (ii) if the Shares or other securities representing the Shares are listed on one
or more stock exchange, a Director of the Company who meets the independence standards under the applicable corporate governance rules of
the stock exchange(s).

 

2.20            “Non-Employee
Director” means a member of the Board who qualifies as a “Non-Employee Director” as defined in Rule 16b-3(b)(3) of
the Exchange Act, or any successor definition adopted by the Board.

 

2.21            “Non-Statutory
Share Option” means an Option that is not intended to be an Incentive Share Option.

 

2.22          “Option”
means a right granted to a Participant pursuant to Article 5 of the Plan to purchase a specified number of Shares at a specified
price during specified time periods. An Option may be either an Incentive Share Option or a Non-Statutory Share Option.

 

2.23            “Parent”
means a parent corporation under Section 424(e) of the Code.

 

2.24            “Participant”
means a person who, as a Director, a Consultant or an Employee, has been granted an Award pursuant to the Plan.

 

2.25           “Plan”
means this 2022 Share Incentive Plan of Prenetics Global Limited, as it may be amended and/or restated from time to time, together with
any exhibits hereto.

 

2.26            “Related
Entity” means any business, corporation, partnership, limited liability company or other entity in which the Company or a Parent
or Subsidiary of the Company holds a substantial ownership interest, directly or indirectly, or controls through contractual arrangements
and consolidates the financial results according to applicable accounting standards, but which is not a Subsidiary and which the Board
designates as a Related Entity for purposes of the Plan.

 

2.27           “Restricted
Share” means a Share awarded to a Participant pursuant to Article 6 that is subject to certain restrictions and may be
subject to risk of forfeiture.

 

2.28            “Restricted
Share Unit” means the right granted to a Participant pursuant to Article 7 to receive a Share at a future date.

 

2.29            “Restriction
Period” means the period during which the transfer of Restricted Shares are subject to restrictions, which restrictions may
be based on the passage of time, the achievement of certain performance objectives, or the occurrence of other events as determined by
the Committee, in its discretion.

 

    5 

     

    

 

2.30            “Securities
Act” means the Securities Act of 1933 of the United States, as amended.

 

2.31           “Service
Recipient” means the Company or any Subsidiary of the Company and any Related Entity to which a Participant provides services
as an Employee, a Consultant or a Director.

 

2.32            “Share”
means an ordinary share of the Company, par value US$0.0001 per share, and such other securities of the Company that may be substituted
for Shares pursuant to Article 9.

 

2.33          “Subsidiary”
means any corporation or other entity of which a majority of the outstanding voting shares or voting power is beneficially owned or controlled
through contractual arrangements directly or indirectly by the Company.

 

ARTICLE 3

 

SHARES SUBJECT TO THE PLAN

 

3.1            Number
of Shares.

 

(a)            Subject
to the provision of Article 9 and Section 3.1(b), the maximum aggregate number of Shares with respect to which Awards may be
granted under the Plan shall initially be (i) [______]1,
which will be increased on the first day of each calendar year beginning in the year immediately following closing of the transactions
contemplated under the Business Combination Agreement and during the term of the Plan, in an amount equal to the lesser of (A) three
percent (3%) of the total number of Shares issued and outstanding on an as-converted fully-diluted basis on the last day of the immediately
preceding fiscal year and (B) such number of Shares determined by the Board plus (ii) the
number of shares reserved for issuance in accordance with the Employee Share Purchase Program set forth in Appendix D hereto.
The maximum number of Shares with respect to which Incentive Share Options may be granted under the Plan shall be [______]
Shares.

 

 

1
Note to Draft: To include a number that is equal to 10% of PubCo’s fully-diluted outstanding capital stock
immediately after the Acquisition Closing, inclusive of the award pool that remains authorized but unissued immediately prior to the
Acquisition Closing.

 

    6 

     

    

 

(b)            To
the extent that an Award terminates, expires, or lapses for any reason without having been exercised or settled in full, the number of
Shares subject to the Award shall again be available for the grant of an Award pursuant to the Plan; provided that with respect to an
Award granted pursuant to the Employee Share Purchase Program that terminates, expires, or lapses for any reason without having been settled
in full, Shares subject to such Award shall only may again be available for the grant of an Award pursuant to the Employee Share Purchase
Program. To the extent permitted by Applicable Laws, Shares issued in assumption of, or in substitution for, any outstanding awards of
any entity acquired in any form or combination by the Company or any Parent or Subsidiary of the Company shall not be counted against
Shares available for grant pursuant to the Plan. Shares delivered by the Participant or withheld by the Company upon the exercise of any
Award under the Plan, in payment of the exercise price thereof or tax withholding thereon, may again be granted or awarded hereunder;
provided that with respect to an Award granted pursuant to the Employee Share Purchase Program, Shares subject to such Award shall that
are delivered by the Participant or withheld by the Company in payment of tax withholding thereon, only may again be available for the
grant of an Award pursuant to the Employee Share Purchase Program. If any Award is forfeited by the Participant or repurchased by the
Company, the Shares underlying such Award may again be granted or awarded hereunder; provided that with respect to an Award granted pursuant
to the Employee Share Purchase Program, Shares subject to such forfeited Award only may again be available for the grant of an Award pursuant
to the Employee Share Purchase Program. Notwithstanding the provisions of this Section 3.1(b), no Shares may again be granted or
awarded if such action would cause an Award intended to be an Incentive Share Option to fail to qualify as an incentive share option under
Section 422 of the Code.

 

 

3.2            Shares
Distributed. Any Shares distributed pursuant to an Award may consist, in whole or in part, of authorized and unissued Shares, treasury
Shares (subject to Applicable Laws) or Shares purchased on the open market. Additionally, at the discretion of the Committee, American
Depository Shares in an amount equivalent to the number of Shares which otherwise would be distributed pursuant to an Award may be distributed
in lieu of Shares in settlement of any Award. If the number of Shares represented by an American Depository Share is other than on a one-to-one
basis, the limitations of Section 3.1 shall be adjusted to reflect the distribution of American Depository Shares in lieu of Shares.

 

ARTICLE 4

 

ELIGIBILITY AND PARTICIPATION

 

4.1            Eligibility.
Persons eligible to participate in this Plan include Employees, Consultants and Directors, as determined by the Committee.

 

4.2           Participation.
Subject to the provisions of the Plan, the Committee may, from time to time, select from among all eligible individuals, those to whom
Awards shall be granted and shall determine the nature and amount of each Award.

 

4.3           Jurisdictions.
In order to assure the viability of Awards granted to Participants employed in various jurisdictions, the Committee may provide for such
special terms as it may consider necessary or appropriate to accommodate differences in local law, tax policy, or custom applicable in
the jurisdiction in which the Participant resides, is employed, operates or is incorporated. Moreover, the Committee may approve such
supplements to, or amendments, restatements, or alternative versions of, the Plan as it may consider necessary or appropriate for such
purposes without thereby affecting the terms of the Plan as in effect for any other purpose; provided, however, that no such supplements,
amendments, restatements, or alternative versions shall increase the share limitations contained in Section 3.1 of the Plan. Notwithstanding
the foregoing, the Committee may not take any actions hereunder, and no Awards shall be granted, that would violate any Applicable Laws.

 

    7 

     

    

 

ARTICLE 5

 

OPTIONS

 

5.1          General.
The Committee is authorized to grant Options to Participants on the following terms and conditions:

 

(a)            Grant
of Options. Subject to the terms and provisions of the Plan, Options may be granted to Employees, Consultants or Directors at any
time and from time to time as determined by the Committee. The Committee, in its sole discretion, shall determine the number of Shares
subject to each Option. The Committee may grant Incentive Share Options, Non-Statutory Share Options, or a combination thereof.

 

(b)            Exercise
Price. The exercise price per Share subject to an Option shall be determined by the Committee and set forth in the Award Agreement
which may be a fixed or variable price, to the extent not prohibited by the Applicable Laws; provided, however, that no
Option may be granted to an individual subject to taxation in the United States at less than the Fair Market Value on the date of grant,
without compliance with Section 409A of the Code. The exercise price per Share subject to an Option may be amended or adjusted in
the absolute discretion of the Committee, the determination of which shall be final, binding and conclusive. For the avoidance of doubt,
to the extent not prohibited by Applicable Laws or any exchange rule, a downward adjustment of the exercise prices of Options mentioned
in the preceding sentence shall be effective without the approval of the Company’s shareholders or the approval of the affected
Participants.

 

(c)           Vesting.
The period during which the right to exercise, in whole or in part, an Option vests in the Participant shall be set by the Committee and
the Committee may determine that an Option may not be exercised in whole or in part for a specified period after it is granted. Such vesting
may be based on service with the Service Recipient or any other criteria selected by the Committee. At any time after grant of an Option,
the Committee may, in its sole discretion and subject to whatever terms and conditions it selects, accelerate the period during which
an Option vests. No portion of an Option which becomes unexercisable upon a termination of employment or service of the Participant shall
thereafter become exercisable, except as may be otherwise provided by the Committee either in the Award Agreement or by action of the
Committee following the grant of the Option.

 

(d)           Time
and Conditions of Exercise; Term. The Committee shall determine the time or times at which an Option may be exercised in whole or
in part, including exercise prior to vesting; provided that the term of any Option granted under the Plan shall not exceed ten years,
except as provided in Section 12.1. The Committee shall also determine any conditions, if any, that must be satisfied before all
or part of an Option may be exercised.

 

    8 

     

    

 

(e)            Payment.
The Committee shall determine the methods by which the exercise price of an Option may be paid, the form of payment, including, without
limitation (i) cash or check denominated in U.S. Dollars, (ii) to the extent permissible under the Applicable Laws, cash or
check in Hong Kong Dollars, (iii) cash or check denominated in any other local currency as approved by the Committee, (iv) Shares
held for such period of time as may be required by the Committee in order to avoid adverse financial accounting consequences and having
a Fair Market Value on the date of delivery equal to the aggregate exercise price of the Option or exercised portion thereof, (v) the
delivery of a notice that the Participant has placed a market sell order with a broker with respect to Shares then issuable upon exercise
of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction
of the Option exercise price; provided that payment of such proceeds is then made to the Company upon settlement of such sale,
(vi) other property acceptable to the Committee with a Fair Market Value equal to the exercise price, or (vii) any combination
of the foregoing. Notwithstanding any other provision of the Plan to the contrary, no Participant who is a Director or an “executive
officer” of the Company within the meaning of Section 13(k) of the Exchange Act shall be permitted to pay the exercise
price of an Option in any method which would violate Section 13(k) of the Exchange Act.

 

(f)           Evidence
of Grant. All Options shall be evidenced by an Award Agreement (substantially in the form set out in Appendix A) between the Company
and the Participant. The Award Agreement shall include such additional provisions as may be specified by the Committee.

 

(g)          Effects
of Termination of Employment or Service on Options. Termination of employment or service shall have the following effects on Options
granted to the Participants:

 

(i)          Dismissal
for Cause. Unless otherwise provided in the Award Agreement, if a Participant’s employment by or service to the Service Recipient
is terminated by the Service Recipient for Cause, the Participant’s Options will terminate upon such termination, whether or not
the Option is then vested and/or exercisable, and all vested Options shall be immediately forfeited;

 

(ii)          Death
or Disability. Unless otherwise provided in the Award Agreement, if a Participant’s employment by or service to the Service
Recipient terminates as a result of the Participant’s death or Disability:

 

		(a)	all of the Options of the Participant shall vest on the date of his or her termination of employment or
service (regardless of the vesting conditions and schedule), and the Participant (or his or her legal representative or beneficiary, in
the case of the Participant’s Disability or death, respectively), will have until the date that is 12 months after the Participant’s
termination of employment by or service to the Service Recipient (or, if earlier, the last day of the original maximum term of the option)
to exercise the Participant’s Options; and

 

		(b)	the Options, to the extent exercisable for the 12-month period following the Participant’s termination
of employment by or service to the Service Recipient and not exercised during such period, shall terminate at the close of business on
the last day of the 12-month period (or, if earlier, the last day of the original maximum term of the option).

 

    9 

     

    

 

(iii)          Other
Terminations of Employment or Service. Unless otherwise provided in the Award Agreement, if a Participant’s employment by or
service to the Service Recipient terminates for any reason other than a termination by the Service Recipient for Cause or because of the
Participant’s death or Disability:

 

		(a)	the Participant will have until the date that is 90 days after the Participant’s termination of
employment or service (or, if earlier, the last day of the original maximum term of the option) to exercise his or her Options (or portion
thereof) to the extent that such Options were vested and exercisable on the date of the Participant’s termination of employment
or service;

 

		(b)	the Options, to the extent not vested and exercisable on the date of the Participant’s termination
of employment or service, shall terminate upon the Participant’s termination of employment or service; and

 

		(c)	the Options, to the extent exercisable for the 90-day period following the Participant’s termination
of employment or service and not exercised during such period, shall terminate at the close of business on the last day of the 90-day
period (or, if earlier, the last day of the original maximum term of the option).

 

5.2          Incentive
Share Options. Incentive Share Options may be granted to Employees of the Company or a Subsidiary of the Company. Incentive Share
Options may not be granted to employees of a Related Entity or to Independent Directors. The terms of any Incentive Share Options granted
pursuant to the Plan, in addition to the requirements of Section 5.1, must comply with the following additional provisions of this
Section 5.2:

 

(a)            Individual
Dollar Limitation. The aggregate Fair Market Value (determined as of the time the Option is granted) of all Shares with respect to
which Incentive Share Options are first exercisable by a Participant in any calendar year may not exceed US$100,000 or such other limitation
as imposed by Section 422(d) of the Code, or any successor provision. To the extent that Incentive Share Options are first exercisable
by a Participant in excess of such limitation, the excess shall be considered Non-Statutory Share Options.

 

(b)          Exercise
Price. The exercise price of an Incentive Share Option shall be equal to the Fair Market Value on the date of grant. However, the
exercise price of any Incentive Share Option granted to any individual who, at the date of grant, owns Shares possessing more than ten
percent of the total combined voting power of all classes of shares of the Company may not be less than 110% of Fair Market Value on the
date of grant and such Option may not be exercisable for more than five years from the date of grant.

 

(c)           Notice
of Disposition. The Participant shall give the Company prompt notice of any disposition of Shares acquired by exercise of an Incentive
Share Option within (i) two years from the date of grant of such Incentive Share Option or (ii) one year after the transfer
of such Shares to the Participant.

 

    10 

     

    

 

(d)           Expiration
of Incentive Share Options. No Award of an Incentive Share Option may be made pursuant to this Plan after the tenth anniversary of
the Effective Date.

 

(e)            Right
to Exercise. During a Participant’s lifetime, an Incentive Share Option may be exercised only by the Participant.

 

ARTICLE 6

 

RESTRICTED SHARES

 

6.1          Grant
of Restricted Shares. The Committee, at any time and from time to time, may grant Restricted Shares to Participants as the Committee,
in its sole discretion, shall determine. The Committee, in its sole discretion, shall determine the number of Restricted Shares to be
granted to each Participant.

 

6.2          Restricted
Shares Award Agreement. Each Award of Restricted Shares shall be evidenced by an Award Agreement (substantially in the form set out
in Appendix B) that shall specify the Restriction Period, the number of Restricted Shares granted, and such other terms and conditions
as the Committee, in its sole discretion, shall determine. Unless the Committee determines otherwise, Restricted Shares shall be held
by the Company as escrow agent until the restrictions on such Restricted Shares have lapsed.

 

6.3        Issuance
and Restrictions. Restricted Shares shall be subject to such restrictions on transferability and other restrictions as the Committee
may impose (including, without limitation, limitations on the right to vote Restricted Shares or the right to receive dividends on the
Restricted Share). These restrictions may lapse separately or in combination at such times, pursuant to such circumstances, in such installments,
or otherwise, as the Committee determines at the time of the grant of the Award or thereafter.

 

6.4         Forfeiture/Repurchase.
Except as otherwise determined by the Committee at the time of the grant of the Award or thereafter, upon termination of employment or
service during the applicable Restriction Period, Restricted Shares that are at that time subject to restrictions shall be forfeited
or repurchased in accordance with the Award Agreement; provided, however, the Committee may (a) provide in any Restricted
Share Award Agreement that restrictions or forfeiture and repurchase conditions relating to Restricted Shares will be waived in whole
or in part in the event of terminations resulting from specified causes, and (b) in other cases waive in whole or in part restrictions
or forfeiture and repurchase conditions relating to Restricted Shares.

 

6.5          Certificates
for Restricted Shares. Restricted Shares granted pursuant to the Plan may be evidenced in such manner as the Committee shall determine.
If certificates representing Restricted Shares are registered in the name of the Participant, certificates must bear an appropriate legend
referring to the terms, conditions, and restrictions applicable to such Restricted Shares, and the Company may, at its discretion, retain
physical possession of the certificate until such time as all applicable restrictions lapse.

 

    11 

     

    

 

6.6        Removal
of Restrictions. Except as otherwise provided in this Article 6, Restricted Shares granted under the Plan shall be released
from escrow as soon as practicable after the last day of the Restriction Period. The Committee, in its discretion, may accelerate the
time at which any restrictions shall lapse or be removed. After the restrictions have lapsed, the Participant shall be entitled to have
any legend or legends under Section 6.5 removed from his or her Share certificate, and the Shares shall be freely transferable by
the Participant, subject to applicable legal restrictions. The Committee (in its discretion) may establish procedures regarding the release
of Shares from escrow and the removal of legends, as necessary or appropriate to minimize administrative burdens on the Company.

 

ARTICLE 7

 

RESTRICTED SHARE UNITS

 

7.1          Grant
of Restricted Share Units. The Committee, at any time and from time to time, may grant Restricted Share Units to Participants as the
Committee, in its sole discretion, shall determine. The Committee, in its sole discretion, shall determine the number of Restricted Share
Units to be granted to each Participant.

 

7.2        Restricted
Share Units Award Agreement. Each Award of Restricted Share Units shall be evidenced by an Award Agreement (substantially in the form
set out in Appendix C) that shall specify the vesting schedule, release conditions, the number of Restricted Share Units granted, and
such other terms and conditions as the Committee, in its sole discretion, shall determine.

 

7.3          Form and
Timing of Vesting and Release of Restricted Share Units. At the time of grant, the Committee shall specify the date or dates and/or
event or events upon which the Restricted Share Units shall become fully vested and non-forfeitable. After vesting and upon the satisfaction
of the release conditions, the Committee, in its sole discretion, may pay Restricted Share Units in the form of cash, Shares or a combination
thereof.

 

7.4        Forfeiture/Repurchase.
Except as otherwise determined by the Committee at the time of the grant of the Award or thereafter, upon termination of employment and
service during the applicable restriction period, Restricted Share Units that are at that time unvested shall be forfeited or repurchased
in accordance with the Award Agreement; provided, however, the Committee may (a) provide in any Restricted Share Unit Award
Agreement that restrictions or forfeiture and repurchase conditions relating to Restricted Share Units will be waived in whole or in part
in the event of terminations resulting from specified causes, and (b) in other cases waive in whole or in part restrictions or forfeiture
and repurchase conditions relating to Restricted Share Units.

 

ARTICLE 8

 

PROVISIONS APPLICABLE TO AWARDS

 

8.1          Award
Agreement. Awards under the Plan shall be evidenced by Award Agreements that set forth the terms, conditions and limitations for each
Award, which may include the term of an Award, the provisions applicable in the event the Participant’s employment or service terminates,
and the Company’s authority to unilaterally or bilaterally amend, modify, suspend, cancel or rescind an Award.

 

    12 

     

    

 

8.2          No
Transferability; Limited Exception to Transfer Restrictions.

 

8.2.1          Limits
on Transfer. Unless otherwise expressly provided in (or pursuant to) this Section 8.2.1, by Applicable Law and by the Award Agreement,
as the same may be amended:

 

(a)            all
Awards are non-transferable and will not be subject in any manner to sale, transfer, anticipation, alienation, assignment, pledge, encumbrance
or charge;

 

(b)            Awards
will be exercised only by the Participant; and

 

(c)          amounts
payable or shares issuable pursuant to an Award will be delivered only to (or for the account of), and, in the case of Shares, registered
in the name of, the Participant.

 

In addition, the shares shall
be subject to the restrictions set forth in the applicable Award Agreement.

 

8.2.2            Further
Exceptions to Limits on Transfer. The exercise and transfer restrictions in Section 8.2.1 will not apply to:

 

(a)            transfers
to the Company or a Subsidiary;

 

(b)            transfers
by gift to “immediate family” as that term is defined in SEC Rule 16a-1(e) promulgated under the Exchange Act;

 

(c)            the
designation of a beneficiary to receive benefits if the Participant dies or, if the Participant has died, transfers to or exercises by
the Participant’s beneficiary, or, in the absence of a validly designated beneficiary, transfers by will or the laws of descent
and distribution; or

 

(d)          if
the Participant has suffered a disability, permitted transfers or exercises on behalf of the Participant by the Participant’s duly
authorized legal representative; or

 

(e)           subject
to the prior approval of the Committee or an executive officer or director of the Company authorized by the Committee, transfer to one
or more natural persons who are the Participant’s family members or entities owned and controlled by the Participant and/or the
Participant’s family members, including but not limited to trusts or other entities whose beneficiaries or beneficial owners are
the Participant and/or the Participant’s family members, or to such other persons or entities as may be expressly approved by the
Committee, pursuant to such conditions and procedures as the Committee or may establish. Any permitted transfer shall be subject to the
condition that the Committee receives evidence satisfactory to it that the transfer is being made for estate and/or tax planning purposes
and on a basis consistent with the Company’s lawful issue of securities.

 

    13 

     

    

 

Notwithstanding
anything else in this Section 8.2.2 to the contrary, but subject to compliance with all Applicable Laws, Incentive Share Options,
Restricted Shares and Restricted Share Units will be subject to any and all transfer restrictions under the Code applicable to such Awards
or necessary to maintain the intended tax consequences of such Awards. Notwithstanding clause (b) above but subject to compliance
with all Applicable Laws, any contemplated transfer by gift to “immediate family” as referenced in clause (b) above is
subject to the condition precedent that the transfer be approved by the Committee in order for it to be effective.

 

8.3          Beneficiaries.
Notwithstanding Section 8.2, a Participant may, in the manner determined by the Committee, designate a beneficiary to exercise the
rights of the Participant and to receive any distribution with respect to any Award upon the Participant’s death. A beneficiary,
legal guardian, legal representative, or other person claiming any rights pursuant to the Plan is subject to all terms and conditions
of the Plan and any Award Agreement applicable to the Participant, except to the extent the Plan and Award Agreement otherwise provide,
and to any additional restrictions deemed necessary or appropriate by the Committee. If the Participant is married and resides in a community
property state, a designation of a person other than the Participant’s spouse as his or her beneficiary with respect to more than
50% of the Participant’s interest in the Award shall not be effective without the prior written consent of the Participant’s
spouse. If no beneficiary has been designated or survives the Participant, payment shall be made to the person entitled thereto pursuant
to the Participant’s will or the laws of descent and distribution. Subject to the foregoing, a beneficiary designation may be changed
or revoked by a Participant at any time provided the change or revocation is filed with the Committee.

 

8.4            Performance
Objectives and Other Terms. The Committee, in its discretion, may set performance objectives or other vesting criteria which, depending
on the extent to which they are met, will determine the number or value of Awards that will be paid out to the Participants.

 

8.5        Share
Certificates. Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any certificates
evidencing the Shares pursuant to the exercise of any Award, unless and until the Committee has determined, with advice of counsel, that
the issuance and delivery of such certificates is in compliance with all Applicable Laws, regulations of governmental authorities and,
if applicable, the requirements of any exchange on which the Shares are listed or traded. All Share certificates delivered pursuant to
the Plan are subject to any stop-transfer orders and other restrictions as the Committee deems necessary or advisable to comply all Applicable
Laws, and the rules of any national securities exchange or automated quotation system on which the Shares are listed, quoted, or
traded. The Committee may place legends on any Share certificate to reference restrictions applicable to the Shares. In addition to the
terms and conditions provided herein, the Committee may require that a Participant make such reasonable covenants, agreements, and representations
as the Committee, in its discretion, deems advisable in order to comply with any such laws, regulations, or requirements. The Committee
shall have the right to require any Participant to comply with any timing or other restrictions with respect to the settlement or exercise
of any Award, including a window-period limitation, as may be imposed in the discretion of the Committee.

 

    14 

     

    

 

8.6          Paperless
Administration. Subject to Applicable Laws, the Committee may make Awards, provide applicable disclosure and procedures for exercise
of Awards by an internet website or interactive voice response system for the paperless administration of Awards.

 

ARTICLE 9

 

changes
in capital structure

 

9.1       Adjustments.
In the event of any dividend, share split, combination or exchange of Shares, amalgamation, arrangement or consolidation, spin-off, recapitalization
or other distribution (other than normal cash dividends) of Company assets to its shareholders, or any other change affecting the shares
of Shares or the price or value of a Share, the Committee, shall consider whether there is any diminution or enlargement of the benefits
intended to be made available under the Award, and then may in its sole discretion make such proportionate adjustments (if any) as it
considers to reflect such change with respect to (a) the aggregate number and type of shares that may be issued under the Plan (including,
but not limited to, adjustments of the limitations in Section 3.1); (b) the terms and conditions of any outstanding Awards (including,
without limitation, any applicable performance targets or criteria with respect thereto); (c) the grant or exercise price per share
for any outstanding Awards under the Plan and (d) in the case of a spin-off, the additional number and type of shares (including
shares in the entities being spun-off) that shall be issued or an appropriate decrease of exercise price in connection with the spin-off.

 

9.2          Corporate
Transactions. Except as may otherwise be provided in any Award Agreement or any other written agreement entered into by and between
the Company and a Participant, if the Committee anticipates the occurrence, or upon the occurrence, of a Corporate Transaction, the Committee
may, in its sole discretion, provide for one or more of the following: (i) any and all Awards outstanding hereunder to terminate
at a specific time in the future and shall give each Participant the right to exercise the vested portion of such Awards during a period
of time as the Committee shall determine, or (ii) the termination of any Award in exchange for an amount of cash equal to the amount
that could have been attained upon the exercise of such Award (and, for the avoidance of doubt, if as of such date the Committee determines
in good faith that no amount would have been attained upon the exercise of such Award, then such Award may be terminated by the Company
without payment), or (iii) the replacement of such Award with other rights or property selected by the Committee in its sole discretion
or the assumption of or substitution of such Award by the successor or surviving corporation, or a Parent or Subsidiary thereof, with
appropriate adjustments as to the number and kind of Shares and prices, or (iv) payment of Award in cash based on the value of Shares
on the date of the Corporate Transaction plus reasonable interest on the Award through the date when such Award would otherwise be vested
or have been paid in accordance with its original terms, if necessary to comply with Section 409A of the Code.

 

9.3          Outstanding
Awards – Other Changes. In the event of any other change in the capitalization of the Company or corporate change other than
those specifically referred to in this Article 9, subject to Applicable Laws and the terms of the Plan, the Committee may, in its
sole discretion, make such adjustments in the number and class of shares subject to Awards outstanding on the date on which such change
occurs and in the per share grant or exercise price of each Award as the Committee may consider appropriate to prevent dilution or enlargement
of rights.

 

    15 

     

    

 

9.4          No
Other Rights. Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision or consolidation
of Shares of any class, the payment of any dividend, any increase or decrease in the number of shares of any class or any dissolution,
liquidation, merger, or consolidation of the Company or any other corporation. Except as expressly provided in the Plan or pursuant to
action of the Committee under the Plan, no issuance by the Company of shares of any class, or securities convertible into shares of any
class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number of shares subject to an Award or the
grant or exercise price of any Award.

 

ARTICLE 10

 

ADMINISTRATION

 

10.1            Committee.
The Plan shall be administered by the Committee. Notwithstanding the foregoing, the full Board, acting by majority of its members in office,
shall conduct the general administration of the Plan if required by Applicable Laws, and with respect to Awards granted to the Committee
member(s), Independent Directors and executive officers of the Company and for purposes of such Awards the term “Committee”
as used in the Plan shall be deemed to refer to the Board.

 

10.2            Delegation
of Administration of the Plan. Subject to compliance with Applicable Laws, the Committee may delegate some or all of the administration
of the Plan to the CEO, subject to Applicable Laws. If administration of the Plan is delegated to the CEO, the CEO will have, in connection
with the administration of the Plan, the powers theretofore possessed by the Committee that have been delegated to the CEO. To the extent
that the CEO administers the Plan, references in the Plan to the “Committee” shall be deemed to refer to the CEO. Any delegation
of administrative powers will be reflected in resolutions, not inconsistent with the provisions of the Plan, adopted from time to time
by the Committee. The Committee may retain the authority to concurrently administer the Plan with the CEO and may, at any time, revest
in the Committee some or all of the powers previously delegated.

 

10.3            Action
by the Committee. If the Committee comprises one or two members, it shall act by unanimous consent. If the Committee comprises more
than two members, a majority of the Committee shall constitute a quorum and the acts of a majority of the members present at any meeting
at which a quorum is present, or acts approved in writing by all the Committee members in lieu of a meeting, shall be deemed the acts
of the Committee. Each member of the Committee is entitled to, in good faith, rely or act upon any report or other information furnished
to that member by any officer or other employee of the Company or any Subsidiary or Parent of the Company, the Company’s independent
certified public accountants, or any executive compensation consultant or other professional retained by the Company to assist in the
administration of the Plan.

 

10.4          Authority
of the Committee. Subject to any specific designation in the Plan, the Committee has the exclusive power, authority and discretion
to:

 

(a)           designate
Participants to receive Awards;

 

    16 

     

    

 

(b)            determine
the type or types of Awards to be granted to each Participant;

 

(c)            determine
the number of Awards to be granted and the number of Shares to which an Award will relate;

 

(d)           determine
the terms and conditions of any Award granted pursuant to the Plan, including, but not limited to, the exercise price, the exercise condition,
grant price, or purchase price, any restrictions or limitations on the Award, any schedule for lapse of forfeiture restrictions or restrictions
on the exercisability of an Award, and accelerations or waivers thereof, any provisions related to non-competition and recapture of gain
on an Award, based in each case on such considerations as the Committee in its sole discretion determines;

 

(e)          determine
whether, to what extent, and pursuant to what circumstances an Award may be settled in, or the exercise price of an Award may be paid
in, cash, Shares, other Awards, or other property, or an Award may be canceled, forfeited, or surrendered;

 

(f)            prescribe
the form of each Award Agreement, which need not be identical for each Participant;

 

(g)            decide
all other matters that must be determined in connection with an Award;

 

(h)            determine
the Fair Market Value, consistent with the terms of the Plan;

 

(i)            establish,
adopt, or revise any rules and regulations as it may deem necessary or advisable to administer the Plan;

 

(j)            interpret
the terms of, and any matter arising pursuant to, the Plan, any Award Agreement and any Award granted thereunder;

 

(k)            amend
terms and conditions of Award Agreements; and

 

(l)            make
all other decisions and determinations that may be required pursuant to the Plan or as the Committee deems necessary or advisable to administer
the Plan, including design and adopt from time to time new types of Awards that are in compliance with Applicable Laws.

 

10.5          Decisions
Binding. The Committee’s interpretation of the Plan, any Awards granted pursuant to the Plan, any Award Agreement and all decisions
and determinations by the Committee with respect to the Plan are final, binding, and conclusive on all parties.

 

    17 

     

    

 

ARTICLE 11

 

EFFECTIVE AND EXPIRATION DATE

 

11.1            Effective
Date. The Plan was approved by the Board on [___], 2022. The Plan will become effective on the date immediately after the date of
the closing of the transactions contemplated by the Business Combination Agreement (the “Effective Date”), provided
that the Plan is approved by the Company’s shareholders prior to the Effective Date and such approval occurs within 12 months following
the date the Board approved the Plan. If the Plan is not approved by the Company’s shareholders within the foregoing time frame,
or if the Business Combination Agreement is terminated prior to the consummation of the transactions contemplated thereby, the Plan will
not become effective. No Incentive Share Option may be granted pursuant to the Plan after the tenth anniversary of the earlier of (i) the
date the Plan was approved by the Board and (ii) the date the Plan was approved by the Company’s shareholders.

 

11.2          Expiration
Date. The Plan will expire on, and no Award may be granted pursuant to the Plan after, the tenth anniversary of the Effective Date.
Any Awards that are outstanding on the tenth anniversary of the Effective Date shall remain in force according to the terms of the Plan
and the applicable Award Agreement.

 

ARTICLE 12

 

AMENDMENT, MODIFICATION, AND TERMINATION

 

12.1            Amendment,
Modification, And Termination. With the approval of the Board, at any time and from time to time, the Committee may terminate, amend
or modify the Plan; provided, however, that (a) to the extent necessary to comply with Applicable Laws or stock exchange rules,
the Company shall obtain shareholder approval of any Plan amendment in such a manner and to such a degree as required, unless the Company
decides to follow home country practice, and (b) unless the Company is permitted to follow and actually follows home country practice,
shareholder approval is required for any amendment to the Plan that (i) increases the number of Shares available under the Plan (other
than any adjustment as provided by Article 9) or (ii) permits the Committee to extend the term of the Plan.

 

12.2           Awards
Previously Granted. Except with respect to amendments made pursuant to Section 12.1, no termination, amendment, or modification
of the Plan shall adversely affect in any material way any Award previously granted pursuant to the Plan without the prior written consent
of the Participant. Termination of the Plan will not affect the Committee’s ability to exercise the powers granted to it hereunder
with respect to Awards granted under the Plan prior to the date of such termination.

 

    18 

     

    

 

ARTICLE 13

 

GENERAL PROVISIONS

 

13.1            No
Rights to Awards. No Participant, employee, or other person shall have any claim to be granted any Award pursuant to the Plan, and
neither the Company nor the Committee is obligated to treat Participants, employees, and other persons uniformly.

 

13.2           No
Shareholders Rights. Except as otherwise determined by the Committee at the time of the grant of an Award or thereafter, no Award
gives the Participant any of the rights of a shareholder of the Company unless and until Shares are in fact issued to such person in connection
with such Award.

 

13.3            Taxes.
No Shares shall be delivered under the Plan to any Participant until such Participant has made arrangements acceptable to the Committee
for the satisfaction of any income and employment tax withholding obligations under Applicable Laws. The Company or any Subsidiary shall
have the authority and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy
all applicable taxes (including the Participant’s payroll tax obligations) required or permitted by Applicable Laws to be withheld
with respect to any taxable event concerning a Participant arising as a result of this Plan. The Committee may in its discretion and in
satisfaction of the foregoing requirement allow a Participant to elect to have the Company withhold Shares otherwise issuable under an
Award (or allow the return of Shares) having a Fair Market Value equal to the sums required to be withheld. Notwithstanding any other
provision of the Plan, the number of Shares which may be withheld with respect to the issuance, vesting, exercise or payment of any Award
(or which may be repurchased from the Participant of such Award after such Shares were acquired by the Participant from the Company) in
order to satisfy any income and payroll tax liabilities applicable to the Participant with respect to the issuance, vesting, exercise
or payment of the Award shall, unless specifically approved by the Committee, be limited to the number of Shares which have a Fair Market
Value on the date of withholding or repurchase equal to the aggregate amount of such liabilities based on the maximum withholding amount
consistent with the Award being subject to equity accounting treatment under the Financial Accounting Standards Board Accounting Standards
Codification Topic 718, or any successor provision.

 

13.4            No
Right to Employment or Services. Nothing in the Plan or any Award Agreement shall interfere with or limit in any way the right of
the Service Recipient to terminate any Participant’s employment or services at any time, nor confer upon any Participant any right
to continue in the employment or services of any Service Recipient.

 

13.5            Unfunded
Status of Awards. The Plan is intended to be an “unfunded” plan for incentive compensation. With respect to any payments
not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award Agreement shall give the Participant any
rights that are greater than those of a general creditor of the Company or any Subsidiary.

 

    19 

     

    

 

13.6           Indemnification.
To the extent allowable pursuant to Applicable Laws, each member of the Committee or of the Board shall be indemnified and held harmless
by the Company from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by such member in connection
with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved
by reason of any action or failure to act pursuant to the Plan and against and from any and all amounts paid by him or her in satisfaction
of judgment in such action, suit, or proceeding against him or her; provided he or she gives the Company an opportunity, at its
own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing
right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled pursuant
to the Company’s Memorandum of Association and Articles of Association, as a matter of law, or otherwise, or any power that the
Company may have to indemnify them or hold them harmless.

 

13.7           Relationship
to other Benefits. No payment pursuant to the Plan shall be taken into account in determining any benefits pursuant to any pension,
retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Subsidiary or Parent of the
Company except to the extent otherwise expressly provided in writing in such other plan or an agreement thereunder.

 

13.8            Expenses.
The expenses of administering the Plan shall be borne by the Company and its Subsidiaries.

 

13.9            Titles
and Headings. The titles and headings of the Sections in the Plan are for convenience of reference only and, in the event of any conflict,
the text of the Plan, rather than such titles or headings, shall control.

 

13.10            Fractional
Shares. No fractional Shares shall be issued and the Committee shall determine, in its discretion, whether cash shall be given in
lieu of fractional Shares or whether such fractional Shares shall be eliminated by rounding up or down as appropriate.

 

13.11           Limitations
Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan, the Plan, and any Award granted or awarded
to any Participant who is then subject to Section 16 of the Exchange Act, shall be subject to any additional limitations set forth
in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange
Act) that are requirements for the application of such exemptive rule. To the extent permitted by the Applicable Laws, the Plan and Awards
granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.

 

13.12          Government
and Other Regulations. The obligation of the Company to make payment of awards in Shares or otherwise shall be subject to all Applicable
Laws, and to such approvals by government agencies as may be required. The Company shall be under no obligation to register any of the
Shares paid pursuant to the Plan under the Securities Act or any other similar law in any applicable jurisdiction. If the Shares paid
pursuant to the Plan may in certain circumstances be exempt from registration pursuant to the Securities Act or other Applicable Laws,
the Company may restrict the transfer of such Shares in such manner as it deems advisable to ensure the availability of any such exemption.

 

    20 

     

    

 

13.13            Governing
Law. The Plan and all Award Agreements shall be construed in accordance with and governed by but not the choice of law rules of
the Cayman Islands.

 

13.14            Section 409A.
It is the intent of the Company that payments and benefits under the Plan comply with Section 409A of the Code to the extent subject
thereto, and, accordingly, to the maximum extent permitted, the Plan shall be interpreted and be administered to be in compliance therewith.
To the extent that the Committee determines that any Award granted under the Plan is or may become subject to Section 409A of the
Code, the Award Agreement evidencing such Award shall incorporate the terms and conditions required by Section 409A of the Code.
To the extent applicable, the Plan and the Award Agreements shall be interpreted in accordance with Section 409A of the Code and
the U.S. Department of Treasury regulations and other interpretative guidance issued thereunder, including without limitation any such
regulation or other guidance that may be issued after the Effective Date. Notwithstanding any provision of the Plan to the contrary, in
the event that following the Effective Date the Committee determines that any Award may be subject to Section 409A of the Code and
related Department of Treasury guidance (including such Department of Treasury guidance as may be issued after the Effective Date), the
Committee may adopt such amendments to the Plan and the applicable Award Agreement or adopt other policies and procedures (including amendments,
policies and procedures with retroactive effect), or take any other actions, that the Committee determines are necessary or appropriate
to (a) exempt the Award from Section 409A of the Code and/or preserve the intended tax treatment of the benefits provided with
respect to the Award, or (b) comply with the requirements of Section 409A of the Code and related U.S. Department of Treasury
guidance.

 

    21 

     

    

 

Appendix A

 

Form of Share Option Award Agreement

 

     

     

    

 

Appendix B

 

Form of Restricted Shares Award Agreement

 

     

     

    

 

Appendix C

 

Form of Restricted Share Units Award Agreement

 

     

     

    

 

Appendix D

 

Employee Share Purchase Program

 

The Committee may implement an Employee Share Purchase Program
pursuant to which Restricted Share Units are awarded under the plan to Participants in connection with such Participants’ acquisition
of Shares for a specified value and their satisfaction of such criteria as the Committee shall determine. The terms and conditions of
the Employee Share Purchase Program and the award of Restricted Share Units thereunder shall be determined by the Committee in its discretion,
consistent with the terms of the Plan.

 

The maximum number of Shares that may be issued subject
to Restricted Share Units granted pursuant to the Employee Share Purchase Program shall be [              ]2 Shares; provided, that the
number of Shares available for issuance under the Employee Share Purchase Program will automatically increase on the first day of each
calendar year, for a period of not more than ten years from the Effective Date, commencing on [January 1, 2023] and ending on (and
including) January 1, 2033, in an amount equal to the lesser of (a) one percent (1%) of the Company’s fully-diluted share capital
on the last day of the immediately preceding calendar year or (b) such smaller number determined by the Committee.

 

 

2
To be two percent (2%) of PubCo’s fully-diluted outstanding share capital immediately after the Acquisition Closing.

 

    2

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