Document:

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<P STYLE="text-align: right; margin: 0pt"><FONT STYLE="font-size: 10pt"><B>Exhibit 10.1&nbsp;</B></FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">KLX ENERGY
SERVICES HOLDINGS, INC. LONG-TERM INCENTIVE PLAN<BR>
 (amended and restated as of DECEMBER 2, 2020)</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Purposes of the Plan</B></TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The purposes of the Plan
are to (a) promote the long-term success of the Company and its Subsidiaries and to increase stockholder value by providing Eligible
Individuals with incentives to contribute to the long-term growth and profitability of the Company by offering them an opportunity
to obtain a proprietary interest in the Company through the grant of equity-based awards and (b) assist the Company in attracting,
retaining and motivating highly qualified individuals who are in a position to make significant contributions to the Company and
its Subsidiaries.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Definitions and Rules of Construction</B></TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Definitions.</U> For purposes of the Plan, the following capitalized words shall have the meanings set forth below:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Award&rdquo;
</I></B>means an Option, Restricted Stock, Restricted Stock Unit, Stock Appreciation Right, Performance Stock, Performance Unit
or Other Award granted by the Committee pursuant to the terms of the Plan.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Award Document&rdquo;
</I></B>means an agreement, certificate or other type or form of document or documentation approved by the Committee that sets
forth the terms and conditions of an Award. An Award Document may be in written, electronic or other media, may be limited to a
notation on the books and records of the Company and, unless the Committee requires otherwise, need not be signed by a representative
of the Company or a Participant.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Board&rdquo;
</I></B>means the Board of Directors of the Company, as constituted from time to time.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Change in
Control&rdquo; </I></B>has the meaning assigned to it for purposes of the employment agreement or consulting agreement, as the
case may be, applicable to the Participant. If there is no employment or consulting agreement or if the employment agreement or
consulting agreement contains no such term, <B><I>&ldquo;Change in Control&rdquo; </I></B>means:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The consummation of a reorganization, merger, consolidation or other form of corporate transaction or series of transactions,
in each case, with respect to which persons who were the stockholders of the Company immediately prior to the reorganization, merger
or consolidation or other transaction do not, immediately thereafter, own more than 50% of the combined voting power entitled to
vote generally in the election of directors of the reorganized, merged or consolidated company's then outstanding voting securities,
in substantially the same proportions as their ownership immediately prior to the reorganization, merger, consolidation or other
transaction;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> The consummation of a liquidation or dissolution of the Company;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The sale of all or substantially all of the assets of the Company;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 4pt">&nbsp;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT>Individuals who, as of the Effective Date of this Plan, constitute the Board(the <B><I>&ldquo;Incumbent Board&rdquo;</I></B>)
cease for any reason to constitute at least a majority of the Board, <B>provided </B>that any person becoming a director subsequent
to the Effective Date whose election, or nomination for election by the Company's stockholders, was approved by a vote of at least
a majority of the directors then comprising the Incumbent Board (other than an election or nomination of an individual whose initial
assumption of office is in connection with an actual or threatened election contest relating to the election of the directors
of the Company) shall be, for purposes of this Plan, considered as though such person were a member of the Incumbent Board; or</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The acquisition (other than from the Company) by any person, entity or &ldquo;group,&rdquo; within the meaning of Section
13(d)(3) or 14(d)(2) of the Exchange Act, of beneficial ownership within the meaning of Rule 13d-3 promulgated under the Exchange
Act of more than 50% of either the then outstanding Shares of the Common Stock or the combined voting power of the Company's then
outstanding voting securities entitled to vote generally in the election of directors (hereinafter referred to as the ownership
of a <B><I>&ldquo;Controlling Interest&rdquo;</I></B>) excluding, for this purpose, any acquisitions by (A) the Company or any
of its Subsidiaries or joint ventures, partnerships or business organizations in which the Company or its Subsidiaries have an
equity interest, (B) any person, entity or &ldquo;group&rdquo; that as of the Effective Date owns beneficial ownership (within
the meaning of Rule 13d-3 promulgated under the Exchange Act) or a Controlling Interest or (C) any employee benefit plan of the
Company or any of its Subsidiaries or joint ventures, partnerships or business organizations in which the Company or its Subsidiaries
have an equity interest.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding the foregoing, with respect to an Award that is subject to Section 409A of the Code, the payment or settlement
of which will accelerate upon a Change in Control, no event set forth in an agreement applicable to a Participant or clauses (i),
(ii) or (iii) will constitute a Change in Control for purposes of the Plan and any Award Document unless the event also constitutes
a &ldquo;change in ownership,&rdquo; &ldquo;change in effective control,&rdquo; or &ldquo;change in the ownership of a substantial
portion of the Company's assets&rdquo; as defined under Section 409A of the Code.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Code&rdquo;
</I></B>means the Internal Revenue Code of 1986, as amended, and the applicable guidance, rulings and regulations promulgated thereunder.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Committee&rdquo;
</I></B>means the Compensation Committee of the Board, any successor committee thereto or any other committee appointed from time
to time by the Board to administer the Plan. The Committee shall serve at the pleasure of the Board and shall meet the requirements
of Section 16(b) of the Exchange Act; <B>provided, however, </B>that if any Committee member is found not to have the qualification
requirements of Section 16(b), any actions taken or Awards granted shall not be invalidated by this failure to so qualify; and
<B>provided, further, </B>that the Board may perform any duties delegated to the Committee and in these instances, any reference
to the Board shall be deemed a reference to the Committee.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Common Stock&rdquo;
</I></B>means the common stock of the Company, par value $0.01 per Share, or such other class of Share or other securities as may
be adjusted under Section 13(b) of the Plan.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Company&rdquo;
</I></B>means KLX Energy Services Holdings, Inc., a Delaware corporation, or any successor to all or substantially all of its business
that adopts the Plan.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Disability&rdquo;
</I></B>has the meaning assigned to it for purposes of the employment agreement or consulting agreement, as the case may be, applicable
to the Participant. If there is no employment or consulting agreement or such agreement contains no such term, &ldquo;Disability&rdquo;
has the meaning set forth in the long-term disability plan applicable to the Participant. Notwithstanding the foregoing, with respect
to an Award that is subject to Section 409A of the Code, the payment or settlement of which will accelerate upon a disability,
 &ldquo;Disability&rdquo; will have the meaning ascribed thereto under Section 409A of the Code.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Effective
Date&rdquo; </I></B>has the meaning set forth in Section 15 of the Plan.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Eligible
Individuals&rdquo; </I></B>means the individuals described in Section 4(a) of the Plan who are eligible for Awards under the Plan.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Exchange
Act&rdquo; </I></B>means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Fair Market
Value&rdquo; </I></B>means, with respect to a share of Common Stock, the fair market value of the Share as of the relevant date
of determination, as determined in accordance with the valuation methodology approved by the Committee. In the absence of any alternative
valuation methodology approved by the Committee, the Fair Market Value of a Share of Common Stock shall equal the closing selling
price of a Share of Common Stock on the trading day immediately preceding the date on which the valuation is made as reported on
the composite tape for securities listed on the Nasdaq Global Select Market (<B><I>&ldquo;Nasdaq&rdquo;</I></B>), or such other
national securities exchange as may be designated by the Committee, or, in the event that the Common Stock is not listed for trading
on a national securities exchange but is quoted on an automated system, on such automated system, in any such case on the valuation
date (or, if there were no sales on such automated system on the valuation date, the average of the highest and lowest quoted selling
prices as reported on said composite tape or automated system for the most recent day during which a sale occurred).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Incentive
Stock Option&rdquo; </I></B>means an Option that is intended to comply with the requirements of Section 422 of the Code or any
successor provision thereto.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Non-Employee
Director&rdquo; </I></B>means a director or a member of the Board of the Company or any affiliate who is not an active employee
of the Company or any affiliate.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Nonqualified
Stock Option&rdquo; </I></B>means an Option that is not intended to comply with the requirements of Section 422 of the Code or
any successor provision thereto.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Option&rdquo;
</I></B>means an Incentive Stock Option or Nonqualified Stock Option granted pursuant to Section 7 of the Plan.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Other Award&rdquo;
</I></B>means any form of Award other than an Option, Restricted Stock, Restricted Stock Unit, Performance Stock, Performance Unit
or Stock Appreciation Right granted pursuant to Section 11 of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Participant&rdquo;
</I></B>means an Eligible Individual who has been granted an Award under the Plan.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Performance
Period&rdquo; </I></B>means the period established by the Committee and set forth in the applicable Award Document over which Performance
Targets are measured.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Performance
Stock&rdquo; </I></B>means a Target Number of Shares granted pursuant to Section 10(a) of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Performance
Target&rdquo; </I></B>means the performance measures established by the Committee and set forth in the applicable Award Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Performance
Unit&rdquo; </I></B>means a right to receive a Target Number of Shares or cash in the future granted pursuant to Section 10(b)
of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Plan&rdquo;
</I></B>means the KLX Energy Services Holdings, Inc. Long-Term Incentive Plan (amended and restated as of December 2, 2020), as
may be amended or restated from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Plan Limit&rdquo;
</I></B>means the maximum aggregate number of Shares that may be issued for all purposes under the Plan as set forth in Section
5(a) of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Restricted
Stock&rdquo; </I></B>means Shares granted or sold to a Participant pursuant to Section 8(b) of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Restricted
Stock Unit&rdquo; </I></B>means a right to receive a Share (or cash, if applicable) in the future granted pursuant to Section 8(a)
of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Shares&rdquo;
</I></B>means shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Stock Appreciation
Right&rdquo; </I></B>means a right to receive all or some portion of the appreciation on Shares granted pursuant to Section 9 of
the Plan.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Subsidiary&rdquo; </I></B>means
(i) a domestic or foreign corporation or other entity with respect to which the Company, directly or indirectly, has the
power, whether through the ownership of voting securities, by contract or otherwise, to elect at least a majority of the
members of the corporation's board of directors or analogous governing body, or (ii) any other domestic or foreign
corporation or other entity in which the Company, directly or indirectly, has an equity or similar interest and which the
Committee designates as a Subsidiary for purposes of the Plan. For purposes of determining eligibility for the grant of
Incentive Stock Options under the Plan, the term &ldquo;Subsidiary&rdquo; shall be defined in the manner required by Section
424(f) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Substitute
Award&rdquo; </I></B>means any Award granted upon assumption of, or in substitution or exchange for, outstanding employee equity
awards previously granted by a company or other entity acquired by the Company or with which the Company combines or separates
pursuant to the terms of an equity compensation plan that was approved by the stockholders of such company or other entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B><I>&ldquo;Target Number&rdquo;
</I></B>means the target number of Shares or cash value established by the Committee and set forth in the applicable Award Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Rules of Construction.</U> The masculine pronoun shall be deemed to include the feminine pronoun, and the singular form
of a word shall be deemed to include the plural form, unless the context requires otherwise. Unless the text indicates otherwise,
references to sections are to sections of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Administration</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Committee.</U> The Plan shall be administered by the Committee, which shall have full power and authority, subject to
the express provisions hereof, to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>select the Participants from the Eligible Individuals;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>grant Awards in accordance with the Plan;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>determine the number of Shares subject to each Award or the cash amount payable in connection with an Award;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>determine
the terms and conditions of each Award, including, without limitation, those related to term, permissible methods of exercise,
vesting, forfeiture, payment, settlement, exercisability, Performance Periods, Performance Targets, and the effect, if any, of
a Participant's termination of employment with the Company or any of its Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>subject to Section 16, amend the terms and conditions of an Award after grant;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>specify and approve the provisions of the Award Documents delivered to Participants in connection with their Awards;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(vii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>construe and interpret any Award Document delivered under the Plan;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(viii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> make factual determinations in connection with the administration or interpretation of the Plan;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(ix)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>adopt, prescribe, amend, waive and rescind administrative regulations, rules and procedures relating to the Plan;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(x)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>employ legal counsel, independent auditors and consultants as it deems desirable for the administration of the Plan and
rely upon any advice, opinion or computation received therefrom;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(xi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>vary
the terms of Awards to take account of tax and securities laws and other regulatory requirements or to procure favorable tax treatment
for Participants;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(xii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>correct any defects, supply any omission or reconcile any inconsistency in any Award Document or the Plan; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(xiii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>make
all other determinations and take any other action desirable or necessary to interpret, construe or implement properly the provisions
of the Plan or any Award Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Plan Construction and Interpretation.</U> The Committee shall have full power and authority, subject to the express provisions
hereof, to construe and interpret the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Determinations of Committee Final and Binding.</U>&#9;All determinations by the Committee or its delegate in carrying
out and administering the Plan and in construing and interpreting the Plan shall be made in the Committee's sole discretion and
shall be final, binding and conclusive for all purposes and upon all interested persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Non-Uniform Determinations.</U> The Committee's determinations under the Plan need not be uniform and may be made by
it selectively among Eligible Individuals who receive, or are eligible to receive, Awards (whether or not such Eligible Individuals
are similarly situated). Without limiting the generality of the foregoing, the Committee shall be entitled, among other things,
to make non-uniform and selective determinations, and to enter into nonuniform and selective Award Documents, as to the Eligible
Individuals to receive Awards under the Plan and the terms and provisions of Awards under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Delegation
of Authority.</U> To the extent not prohibited by applicable laws, rules and regulations, the Committee may, from time to
time, delegate some or all of its authority under the Plan to a subcommittee or subcommittees thereof or other persons or
groups of persons it deems necessary, appropriate or advisable under conditions or limitations as it may set at the time of
the delegation or thereafter; <B>provided, however, </B>that the Committee may not delegate its authority (i) to make Awards
to employees (A) who are subject on the date of the Award to the reporting rules under Section 16(a) of the Exchange Act or
(B) who are officers of the Company who are delegated authority by the Committee hereunder, or (ii) pursuant to Section 16 of
the Plan. For purposes of the Plan, reference to the Committee shall be deemed to refer to any subcommittee, subcommittees,
or other persons or groups of persons to whom the Committee delegates authority pursuant to this Section 3(e).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Liability of Committee.</U> Subject to applicable laws, rules and regulations (i) no member of the Board or Committee
(or its delegates) shall be liable for any good faith action or determination made in connection with the operation, administration
or interpretation of the Plan, and (ii) the members of the Board or the Committee (and its delegates) shall be entitled to indemnification
and reimbursement in the manner provided in the Company's Certificate of Incorporation and Bylaws as they may be amended from time
to time. In the performance of its responsibilities with respect to the Plan, the Committee shall be entitled to rely upon information
and/or advice furnished by the Company's officers or employees, the Company's accountants, the Company's counsel and any other
party the Committee deems necessary, and no member of the Committee shall be liable for any action taken or not taken in reliance
upon any such information and/or advice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Action by the Board.</U> Anything in the Plan to the contrary notwithstanding, subject to applicable laws, rules and
regulations, any authority or responsibility that, under the terms of the Plan, may be exercised by the Committee may alternatively
be exercised by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>4.</B></TD><TD STYLE="text-align: justify"><B>Eligibility</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Eligible Individuals.</U>&#9;Awards may be granted to officers, employees, directors, consultants, advisors and independent
contractors of the Company or any of its Subsidiaries or joint ventures, partnerships or business organizations in which the Company
or its Subsidiaries have an equity interest. Only employees of the Company or a Parent or Subsidiary may be granted Incentive Stock
Options. The Committee shall have the authority to select the persons to whom Awards may be granted and to determine the type,
number and terms of Awards to be granted to each such Participant. Under the Plan, references to &ldquo;employment&rdquo; or &ldquo;employed&rdquo;
include the engagement of Participants who are consultants, advisors and independent contractors of the Company or its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Grants to Participants.</U> The Committee shall have no obligation to grant any Eligible Individual an Award or to designate
an Eligible Individual as a Participant solely by reason of the Eligible Individual having received a prior Award or having been
previously designated as a Participant. The Committee may grant more than one Award to a Participant and may designate an Eligible
Individual as a Participant for overlapping periods of time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>5.</B></TD><TD STYLE="text-align: justify"><B>Shares Subject to the Plan</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Plan
Limit.</U> Subject to adjustment in accordance with Section 13 of the Plan, the maximum aggregate number of Shares that may
be issued in respect of new Awards granted under the Plan, as of the Effective Date, shall be 700,210. Shares to be issued
under the Plan may be authorized and unissued Shares, issued Shares that have been reacquired by the Company (in the
open-market or in private transactions) and that are being held in treasury, or a combination thereof. All of the Shares
subject to the Plan Limit may be issued pursuant to Incentive Stock Options, except that in calculating the number of Shares
that remain available for Awards of Incentive Stock Options, the rules set forth in Section 5(b) shall not apply to the
extent not permitted under Section 422 of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Rules Applicable to Determining Shares Available for Issuance.</U> The number of Shares remaining available for issuance
shall be reduced by the number of Shares subject to outstanding Awards or, for Awards that are not denominated by Shares but are
settleable or payable in Shares, by the number of Shares actually delivered upon settlement or payment of the Award. For purposes
of determining the number of Shares that remain available for issuance under the Plan, (i) the number of Shares that are tendered
by a Participant or withheld by the Company to pay the exercise price of an Award or to satisfy the Participant's tax withholding
obligations in connection with the exercise or settlement of an Award and (ii) all of the Shares covered by a stock-settled Stock
Appreciation Right to the extent exercised (not limited to the Shares actually issued to Participants, but also including Shares
withheld by the Company for taxes in connection with such exercise), will not be added back to the Plan Limit. In addition, for
purposes of determining the number of Shares that remain available for issuance under the Plan, the number of Shares corresponding
to Awards under the Plan that are forfeited or cancelled or otherwise expire for any reason without having been exercised or settled
or that are settled through issuance of consideration other than Shares (including, without limitation, cash) shall be added back
to the Plan Limit and again be available for the grant of Awards; <B>provided, however, </B>that this provision shall not be applicable
with respect to (i) the cancellation of a Stock Appreciation Right granted in tandem with an Option upon the exercise of the Option
or (ii) the cancellation of an Option granted in tandem with a Stock Appreciation Right upon the exercise of the Stock Appreciation
Right. The payment of dividend equivalents or dividends in cash in conjunction with any outstanding Awards shall not be counted
against the Shares available for issuance under the Plan. Shares underlying Substitute Awards shall not be counted against the
Shares available for issuance under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Award Vesting Limitations</U>. Notwithstanding any other provision of the Plan to the contrary, but subject to Section
6(e) of the Plan, Awards granted under the Plan shall vest no earlier than the first anniversary of the date the Award is granted,
and no Award Document shall reduce or eliminate such minimum vesting requirement; provided, however, that, notwithstanding the
foregoing, Awards that result in the issuance of an aggregate of up to 5% of the Shares available pursuant to Section 5(a) as of
the Effective Date may be granted to any one or more Eligible Individuals without respect to such minimum vesting provisions. For
purposes of grants of Awards to Non-Employee Directors, a vesting period will be deemed to be one year if it runs from the date
of one annual meeting of stockholders of the Company to the next annual meeting of stockholders of the Company. Nothing in this
Section 5.1(c) shall preclude the Committee from taking action, in its sole discretion, to accelerate the vesting of any Award
in connection with or following a Participant&rsquo;s termination of service in accordance with the terms of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Director
Limit.</U> <FONT STYLE="background-color: white">Notwithstanding any provision to the contrary in the Plan or in the
Company&rsquo;s Non-Employee Director Equity Compensation Policy, the maximum aggregate grant date fair value of Awards
granted to a Non-Employee Director </FONT>for compensation for services as a Non-Employee Director during any calendar year
shall be $200,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>6.</B></TD><TD STYLE="text-align: justify"><B>Awards in General</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Types of Awards.</U> Awards under the Plan may consist of Options, Restricted Stock Units, Restricted Stock, Stock Appreciation
Rights, Performance Stock, Performance Units and Other Awards. Any Award described in Sections 7 through 11 of the Plan may be
granted singly or in combination or tandem with any other Awards, as the Committee may determine. Awards under the Plan may be
made in combination with, in replacement of, or as alternatives to awards or rights under any other compensation or benefit plan
of the Company, including the plan of any acquired entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Terms Set Forth in Award Document.</U> The terms and conditions of each Award shall be set forth in an Award Document
in a form approved by the Committee for the Award, which shall contain terms and conditions not inconsistent with the Plan. Notwithstanding
the foregoing, and subject to applicable laws, rules and regulations, the Committee may accelerate (i) the vesting or payment of
any Award, (ii) the lapse of restrictions on any Award, or (iii) the date on which any Award first becomes exercisable. The terms
of Awards may vary among Participants, and the Plan does not impose upon the Committee any requirement to make Awards subject to
uniform terms. Accordingly, the terms of individual Award Documents may vary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Vesting.</U> The Committee shall specify at the time of grant the vesting provisions of an Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination of Employment.</U> The Committee shall specify at or after the time of grant of an Award the provisions governing
the disposition of an Award in the event of a Participant's termination of employment with the Company or any of its Subsidiaries
or affiliates. Subject to Section 409A of the Code and other applicable laws, rules and regulations, in connection with a Participant's
termination of employment, the Committee shall have the discretion to (i) accelerate the vesting, exercisability or settlement
of, (ii) accelerate or eliminate the restrictions and conditions applicable to, or (iii) extend the post-termination exercise period
of an outstanding Award. The provisions described in this Section 6(d) may be specified in the applicable Award Document or determined
at a subsequent time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Change
in Control.</U> Except as otherwise specified in an Award Document (or in a Participant&rsquo;s employment agreement) and
subject to applicable laws, rules and regulations (including Section 409A of the Code), in the event of a Change in Control,
(i) the Awards then outstanding may be assumed, or new rights substituted for the Awards, by the surviving corporation in the
Change in Control and (ii) in the event the surviving corporation in a Change in Control does not assume or substitute for an
Award (or any portion thereof), the vesting or settlement of the Award will be accelerated as of the Change in Control (with
the treatment of Performance Targets as specified in the Award Document) and the Board or the Committee may permit or require
Participants to surrender outstanding Options or Stock Appreciation Rights in exchange for a cash payment equal to the
difference, if any, between the highest price paid for a Share in the Change in Control transaction and the Exercise Price of
the Options or Stock Appreciation Rights (and, for the avoidance of doubt, if such highest price is less than the Exercise
Price of any Option or Stock Appreciation Right, then such Award may be terminated by the Company without payment). For the
purposes of this Section 6(e), an Award shall be considered assumed if, following the Change in Control, the Award confers
the right to purchase or receive, for each Share subject to the Award immediately prior to the Change in Control, the
consideration (whether stock, cash, or other securities or property) received in the Change in Control by holders of Shares
for each Share held on the effective date of the Change in Control (and if holders were offered a choice of consideration,
the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such
consideration received in the Change in Control was not solely common stock of the successor corporation or its parent, the
Board or the Committee may provide for the consideration to be received upon the exercise of the Award, for each Share
subject to an Award, to be solely common stock of the successor corporation or its parent equal in fair market value to the
per Share consideration received by holders of Shares in the Change in Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Dividends and Dividend Equivalents.</U> The Committee may provide Participants with the right to receive dividends or
payments equivalent to dividends or interest with respect to an outstanding Award. The payments can either be paid currently or
deemed to have been reinvested in Shares, and can be made in Shares, cash or a combination thereof, as the Committee shall determine;
<B>provided, however, </B>that the terms of any reinvestment of dividends must comply with all applicable laws, rules and regulations,
including, without limitation, Section 409A of the Code. Notwithstanding the foregoing, (i) no dividends or dividend equivalents
shall be paid with respect to Options or Stock Appreciation Rights and (ii) such payments with respect to an Award that are based
on dividends paid prior to the vesting of such Award shall only be paid out to a Participant to the extent that the vesting conditions
of such Award are subsequently satisfied and the Award vests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Rights of a Stockholder.</U> A Participant shall have no rights as a stockholder with respect to Shares covered by an
Award (including voting rights) until the date the Participant or his nominee becomes the holder of record of such Shares. No adjustment
shall be made for dividends or other rights for which the record date is prior to such date, except as provided in Section 13(b)
of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Performance Targets.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>The
Committee may grant an Award to a Participant payable upon the attainment of specific Performance Targets. The Performance
Targets that may be used by the Committee for such Awards will be based on measurable and attainable financial and
operational goals for the Company, one or more of its operating divisions, Subsidiaries or business units or any combination
of the above e. The Performance Targets may be described in terms of objectives that are related to the individual
Participant or objectives that are Company-wide or related to a Subsidiary, division, department, region, function or
business unit and may be measured on an absolute or cumulative basis or on the basis of percentage of improvement over time,
and may be measured in terms of Company performance (or performance of the applicable Subsidiary, operating division,
department, region, function or business unit) or measured relative to selected peer companies or a market or other index. In
addition, the Committee may establish Performance Targets based on other criteria as it deems appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>At or in connection with the expiration of the applicable Performance Period, the Committee shall determine the extent to
which the Performance Targets are achieved and the percentage of each such Award that has been earned. The Committee may, subject
to Section 409A of the Code, in its sole discretion, adjust the Performance Targets to be subject to continued vesting, earlier
lapse or other modification. Subject to the applicable provisions of the Award Document and the Plan, upon a Participant's termination
of employment with the Company or any of its Subsidiaries or affiliates for any reason during the Performance Period for a given
Award subject to Performance Targets, the Award in question will vest or be forfeited in accordance with the terms and conditions
established by the Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Deferrals.</U> In accordance with the procedures authorized by, and subject to the approval of, the Committee, Participants
may be given the opportunity to defer the payment or settlement of an Award to one or more dates selected by the Participant. The
terms of any deferrals must comply with all applicable laws, rules and regulations including, without limitation, Section 409A
of the Code. No deferral opportunity shall exist with respect to an Award unless explicitly permitted by the Committee on or after
the time of grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Repricing of Options and Stock Appreciation Rights. </U>Notwithstanding anything in the Plan to the contrary, the terms
of outstanding Awards may not be amended, without stockholder approval, to reduce the exercise price of outstanding Options or
Stock Appreciation Rights, or to cancel outstanding Options or Stock Appreciation Rights in exchange for cash, other Awards, or
Options or Stock Appreciation Rights with an exercise price that is less than the exercise price of the original Options or Stock
Appreciation Rights. The foregoing shall not prevent adjustments pursuant to Section 13(b) of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>7.</B></TD><TD STYLE="text-align: justify"><B>Terms and Conditions of Options</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>General.</U>&nbsp;The Committee may grant Options to Eligible Individuals and shall determine whether the Options shall
be Incentive Stock Options or Nonqualified Stock Options. Each Option shall be evidenced by an Award Document that shall expressly
identify the Option as an Incentive Stock Option or Nonqualified Stock Option, and be in such form and contain such provisions
as the Committee shall from time to time deem appropriate. The terms of any Incentive Stock Option granted under the Plan shall
comply in all respects with the provisions of Section 422 of the Code, or any successor provision, as amended from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <U>Exercise Price.</U> The exercise price of an Option shall be fixed by the Committee at the time of grant or shall be
determined by a method specified by the Committee at the time of grant. In no event shall the exercise price of an Option be less
than one hundred percent (100%) of the Fair Market Value of a Share on the date of grant; <B>provided, however, </B>that the exercise
price of a Substitute Award granted as an Option shall be determined in accordance with Section 409A of the Code and may be less
than the one hundred percent (100%) of the Fair Market Value. Payment of the exercise price of an Option shall be made in any form
approved by the Committee at the time of grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Term.</U> An Option shall be effective for such term as shall be determined by the Committee and as set forth in the
Award Document relating to the Option, and the Committee may extend the term of an Option after the time of grant; <B>provided,
however, </B>that the term of an Option may in no event extend beyond the tenth (10th) anniversary of the date of grant of such
Option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Exercise; Payment of Exercise Price.</U> Options shall be exercised by delivery of a notice of exercise in a form approved
by the Company. Subject to the provisions of the applicable Award Document, the exercise price of an Option may be paid (i) in
cash (or cash equivalents), (ii) by actual delivery or attestation to ownership of freely transferable Shares already owned by
the person exercising the Option and equal in value to the exercise price, (iii) by a combination of cash and Shares equal in value
to the exercise price, (iv) through net share settlement or similar procedure involving the withholding of Shares subject to the
Option with a value equal to the exercise price, or (v) by such other means as the Committee may authorize. In accordance with
the rules and procedures authorized by the Committee from time to time for this purpose, the Option may also be exercised through
a &ldquo;cashless exercise&rdquo; procedure authorized by the Committee that permits Participants to exercise Options by delivering
a properly executed exercise notice to the Company together with a copy of irrevocable instructions to a broker to deliver promptly
to the Company the amount of sale or loan proceeds necessary to pay the exercise price and the amount of any required tax or other
withholding obligations or through other procedures determined by the Company from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>8.</B></TD><TD STYLE="text-align: justify"><B>Terms and Conditions of Restricted Stock Units and Restricted Stock</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Restricted Stock Units.</U> The Committee is authorized to grant Restricted Stock Units to Eligible Individuals. A Restricted
Stock Unit shall entitle a Participant to receive, subject to the terms, conditions and restrictions set forth in the Plan and
the applicable Award Document, one or more Shares. Restricted Stock Units may, among other things, be subject to restrictions on
transferability, vesting requirements or other specified circumstances under which they may be cancelled. Upon settlement, the
Restricted Stock Units shall be paid in Shares, cash, or a combination of cash and Shares, with a value equal to the Fair Market
Value of the Shares at the time of payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Restricted
Stock.</U> The Committee may grant or sell Restricted Stock to Eligible Individuals. An Award of Restricted Stock shall
consist of one or more Shares granted or sold to an Eligible Individual, and shall be subject to the terms, conditions and
restrictions set forth in the Plan and established by the Committee in connection with the Award and specified in the
applicable Award Document. Restricted Stock may, among other things, be subject to restrictions on transferability, vesting
requirements or other specified circumstances under which it may be cancelled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>9.</B></TD><TD STYLE="text-align: justify"><B>Stock Appreciation Rights</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>General.</U> The Committee is authorized to grant Stock Appreciation Rights to Eligible Individuals. A Stock Appreciation
Right shall entitle a Participant to receive, upon satisfaction of the conditions to payment specified in the applicable Award
Document, an amount equal to the excess, if any, of the Fair Market Value on the exercise date of the number of Shares for which
the Stock Appreciation Right is exercised over the grant price for such Stock Appreciation Right specified in the applicable Award
Document. The grant price per Share of Shares covered by a Stock Appreciation Right shall be fixed by the Committee at the time
of grant or, alternatively, shall be determined by a method specified by the Committee at the time of grant, but in no event shall
the grant price of a Stock Appreciation Right be less than one hundred percent (100%) of the Fair Market Value of a Share on the
date of grant; <B>provided, however, </B>that the grant price of a Substitute Award granted as a Stock Appreciation Right shall
be in accordance with Section 409A of the Code and may be less than one hundred percent (100%) of the Fair Market Value. Payments
to a Participant upon exercise of a Stock Appreciation Right may be made in cash or Shares, or in a combination of cash and Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Term.</U> A Stock Appreciation Right shall be effective for such term as shall be determined by the Committee and as
set forth in the Award Document relating to such Stock Appreciation Right, and the Committee may extend the term of a Stock Appreciation
Right after the time of grant; <B>provided, however, </B>that the term of a Stock Appreciation Right may in no event extend beyond
the tenth (10th) anniversary of the date of grant of such Stock Appreciation Right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Methods of Exercise.</U> In accordance with the rules and procedures established by the Committee for this purpose, and
subject to the provisions of the applicable Award Document and all applicable laws, the Committee shall determine the permissible
methods of exercise for a Stock Appreciation Right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Stock Appreciation Rights in Tandem with Options.</U> A Stock Appreciation Right granted in tandem with an Option may
be granted either at the same time as the Option or subsequent thereto. If granted in tandem with an Option, a Stock Appreciation
Right shall cover the same number of Shares as covered by the Option (or such lesser number of Shares as the Committee may determine)
and shall be exercisable only at the same time or times and to the extent the related Option shall be exercisable, and shall have
the same term as the related Option. The grant price of a Stock Appreciation Right granted in tandem with an Option shall equal
the per Share exercise price of the Option to which it relates. Upon exercise of a Stock Appreciation Right granted in tandem with
an Option, the related Option shall be cancelled automatically to the extent of the number of Shares covered by such exercise.
Conversely, if the related Option is exercised as to some or all of the Shares covered by the tandem grant, the tandem Stock Appreciation
Right shall be cancelled automatically to the extent of the number of Shares covered by the Option exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>10.</B></TD><TD STYLE="text-align: justify"><B>Performance Stock and Performance Units</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Performance Stock.</U> The Committee may grant Performance Stock to Eligible Individuals. An Award of Performance Stock
shall consist of a Target Number of Shares granted to an Eligible Individual based on the achievement of Performance Targets over
the applicable Performance Period, and shall be subject to the terms, conditions and restrictions set forth in the Plan and established
by the Committee in connection with the Award and specified in the applicable Award Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Performance Units.</U> The Committee may grant Performance Units to Eligible Individuals. A Performance Unit shall entitle
a Participant to receive, subject to the terms, conditions and restrictions set forth in the Plan and established by the Committee
in connection with the Award and specified in the applicable Award Document, a Target Number of Shares or cash based upon the achievement
of Performance Targets over the applicable Performance Period. Performance Units shall be settled through the delivery of Shares
or cash, or a combination of cash and Shares, with a value equal to the Fair Market Value of the underlying Shares as of the last
day of the applicable Performance Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>11.</B></TD><TD STYLE="text-align: justify"><B>Other Awards</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Committee shall have
the authority to specify the terms and provisions of other forms of equity-based or equity-related Awards not described above that
the Committee determines to be consistent with the purpose of the Plan and the interests of the Company. Other Awards may provide
for cash payments based in whole or in part on the value or future value of Shares, for the acquisition or future acquisition of
Shares, or any combination thereof. Notwithstanding the foregoing, where the value of an Other Award is based on a spread value,
the grant or exercise price will not be less than one hundred percent (100%) of the Fair Market Value of the Shares on the date
of the grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>12.</B></TD><TD STYLE="text-align: justify"><B>Certain Restrictions</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Transfers.</U> No Award shall be transferable other than by last will and testament, by the laws of descent and distribution
or pursuant to a domestic relations order, as the case may be; <B>provided, however, </B>that the Committee may, subject to terms
and conditions as it shall specify, permit the transfer of an Award for no consideration (i) to a Participant's family member,
(ii) to one or more trusts established in whole or in part for the benefit of one or more of such family members, (iii) to one
or more entities which are beneficially owned in whole or in part by one or more such family members or (iv) to any other individual
or entity permitted under law and the rules of Nasdaq or any other exchange that lists the Shares (collectively, <B><I>&ldquo;Permitted
Transferees&rdquo;). </I></B>Any Award transferred to a Permitted Transferee shall be further transferable only by last will and
testament or the laws of descent and distribution or, for no consideration, to another Permitted Transferee of the Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Award
Exercisable Only by Participant.</U> During the lifetime of a Participant, an Award shall be exercisable only by the
Participant or by a Permitted Transferee to whom the Award has been transferred in accordance with Section 12(a) above. The
grant of an Award shall impose no obligation on a Participant to exercise or settle the Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>13.</B></TD><TD STYLE="text-align: justify"><B>Recapitalization or Reorganization</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Authority of the Company and Stockholders.</U> The existence of the Plan, the Award Documents and the Awards granted
under the Plan shall not affect or restrict in any way the right or power of the Company or the stockholders of the Company to
make or authorize any adjustment, recapitalization, reorganization or other change in the Company's capital structure or business,
any merger or consolidation of the Company, any issue of stock or of options, warrants or rights to purchase stock or of bonds,
debentures, preferred or prior preference stocks whose rights are superior to or affect the Shares or the rights under the Shares
or which are convertible into or exchangeable for Shares, or the dissolution or liquidation of the Company, or any sale or transfer
of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Change in Capitalization.</U> Notwithstanding any provision of the Plan or any Award Document, the number and kind of
Shares authorized for issuance under Section 5 of the Plan shall be equitably adjusted in the manner deemed necessary by the Committee
in the event of a stock split, reverse stock split, stock dividend, recapitalization, reorganization, partial or complete liquidation,
reclassification, merger, consolidation, separation, extraordinary cash dividend, split-up, spin-off, combination, exchange of
Shares, warrants or rights offering to purchase Shares at a price substantially below Fair Market Value or other similar corporate
event or distribution of stock or property of the Company affecting the Shares in order to preserve, but not increase, the benefits
or potential benefits intended to be made available under the Plan. In addition, upon the occurrence of any of the foregoing events,
the number and kind of Shares subject to any outstanding Award and the exercise price per Share (or the grant price per Share,
as the case may be), if any, under any outstanding Award shall be equitably adjusted (including by payment of cash to a Participant)
in order to preserve the benefits or potential benefits intended to be made available to Participants. Such adjustments shall be
made by the Committee whose determination as to what adjustments shall be made, and the extent thereof, shall be final. Unless
otherwise determined by the Committee, such adjusted Awards shall be subject to the same restrictions and vesting or settlement
schedule to which the underlying Award is subject. Notwithstanding the forgoing, the Committee shall not be required to make any
adjustments that would cause an Award to fail to satisfy the conditions of an applicable exemption from the requirements of Section
409A of the Code or otherwise violate the applicable requirements thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>14.</B></TD><TD STYLE="text-align: justify"><B>Term of the Plan</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Unless earlier terminated
pursuant to Section 16 of the Plan, the Plan shall terminate on the tenth (10th) anniversary of the Effective Date, except with
respect to Awards then outstanding. No Awards may be granted under the Plan after the tenth (10th) anniversary of the Effective
Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>15.</B></TD><TD STYLE="text-align: justify"><B>Effective Date</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Plan (amended and
restated as of December 2, 2020 (such date, the &ldquo;<B><I>Effective Date</I></B>&rdquo;)) will be submitted for the approval
of the Company&rsquo;s stockholders. Awards may be granted or awarded prior to stockholder approval, provided that, to the extent
the Shares underlying such Awards are part of the Increased Reserve, such Awards shall not be exercisable nor shall such Awards
vest prior to the time when the Plan (amended and restated as of the Effective Date) is approved by the Company&rsquo;s stockholders.
If this amendment and restatement of the Plan is not approved by the Company&rsquo;s stockholders within twelve months after the
Effective Date, (i) this amendment and restatement of the Plan will not become effective, (ii) no Awards shall be granted from
the Increased Reserve, (iii) all Awards granted with respect to the Increased Reserve shall thereupon be canceled and become null
and void, and (iv) the Plan (as in effect prior to the amendment and restatement) will continue in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>16.</B></TD><TD STYLE="text-align: justify"><B>Amendment and Termination</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Subject to applicable
laws, rules and regulations, the Board may at any time terminate or, from time to time amend, modify or suspend the Plan; <B>provided,
however, </B>that no termination, amendment, modification or suspension (i) shall be effective without the approval of the stockholders
of the Company if such approval is required under applicable laws, rules and regulations, including the rules of Nasdaq and (ii)
shall materially and adversely alter or impair the rights of a Participant in any Award previously made under the Plan without
the consent of the holder of the Award. Notwithstanding the foregoing, the Board shall have broad authority to amend the Plan or
any Award under the Plan without the consent of a Participant to the extent it deems necessary or desirable (a) to comply with,
or take into account changes in, interpretations of or guidance promulgated under, applicable tax laws, securities laws, employment
laws, accounting rules and other applicable laws, rules and regulations, (b) to take into account unusual or nonrecurring events
or market conditions (including, without limitation, the events described in Section 13(b)), (c) to take into account significant
acquisitions or dispositions of assets or other property by the Company or (d) to ensure that an Award is not subject to interest
and penalties under Section 409A of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>17.</B></TD><TD STYLE="text-align: justify"><B>Miscellaneous</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Tax
Withholding.</U> The Company or a Subsidiary, as appropriate, may require any individual entitled to receive a payment in
respect of an Award to remit to the Company, prior to payment, an amount sufficient to satisfy any applicable tax withholding
requirements. In the case of an Award payable in Shares, the Company or a Subsidiary, as appropriate, may permit or require a
Participant to satisfy, in whole or in part, the obligation to remit taxes by directing the Company to withhold Shares that
would otherwise be received by the Participant or to repurchase Shares that were issued to the Participant to satisfy the
minimum statutory withholding rates for any applicable tax withholding purposes, in accordance with all applicable laws and
pursuant to such rules as the Committee may establish from time to time. The Company or a Subsidiary, as appropriate, shall
also have the right to deduct from all cash payments made to a Participant (whether or not the payment is made in connection
with an Award) any applicable taxes required to be withheld with respect to payments under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Right to Awards or Employment.</U> No person shall have any claim or right to receive Awards under the Plan. Neither
the Plan, the grant of Awards under the Plan nor any action taken or omitted to be taken under the Plan shall be deemed to create
or confer on any Eligible Individual any right to be retained in the employ of the Company or any Subsidiary or other affiliate
thereof, or to interfere with or to limit in any way the right of the Company or any Subsidiary or other affiliate thereof to terminate
the employment of the Eligible Individual at any time. No Award shall constitute salary, recurrent compensation or contractual
compensation for the year of grant, any later year or any other period of time. Neither the Plan nor any Award constitutes a contractual
entitlement to any bonus payment in general irrespective of whether Awards or bonus payments were made in previous years. Payments
received by a Participant under any Award made pursuant to the Plan shall not be included in, nor have any effect on, the determination
of employment-related rights or benefits under any other employee benefit plan or similar arrangement provided by the Company and
the Subsidiaries, unless otherwise specifically provided for under the terms of such plan or arrangement or by the Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Securities Law Restrictions.</U> An Award may not be exercised or settled and no Shares may be issued in connection with
an Award unless the issuance of the Shares (i) has been registered under the Securities Act of 1933, as amended, (ii) has qualified
under applicable state &ldquo;blue sky&rdquo; laws (or the Company has determined that an exemption from registration and from
qualification under such state &ldquo;blue sky&rdquo; laws is available) and (iii) complies with all applicable laws, rules and
regulations, including all foreign securities laws. The Committee may require each Eligible Individual purchasing or acquiring
Shares pursuant to an Award under the Plan to represent to and agree with the Company in writing that such Eligible Individual
is acquiring the Shares for investment purposes and not with a view to the distribution thereof. All certificates for Shares delivered
under the Plan shall be subject to such stock-transfer orders and other restrictions as the Committee may deem advisable under
the rules, regulations, and other requirements of the Securities and Exchange Commission, any exchange upon which the Shares are
then listed, and any applicable securities law, and the Committee may cause a legend or legends to be put on any such certificates
to make appropriate reference to such restrictions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Awards to Individuals Subject to Laws of a Jurisdiction Outside of the United States.</U> To the extent that Awards under
the Plan are awarded to Eligible Individuals who are domiciled or resident outside of the United States or to persons who are domiciled
or resident in the United States but who are subject to the tax laws of a jurisdiction outside of the United States, the Committee
may adjust the terms of the Awards granted hereunder to such person (i) to comply with the laws, rules and regulations of such
jurisdiction and (ii) to permit the grant of the Award not to be a taxable event to the Participant. The authority granted under
the previous sentence shall include the discretion for the Committee to adopt, on behalf of the Company, one or more sub-plans
applicable to separate classes of Eligible Individuals who are subject to the laws of jurisdictions outside of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <U>Satisfaction of Obligations.</U>&nbsp;Subject to applicable law, the Company may apply any cash, Shares, securities
or other consideration received upon exercise or settlement of an Award to any obligations a Participant owes to the Company and
the Subsidiaries in connection with the Plan or otherwise, including, without limitation, any tax obligations or obligations under
a currency facility established in connection with the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Limitation on Corporate Actions.</U> Nothing contained in the Plan shall be construed to prevent the Company or any
Subsidiary from taking any corporate action, whether or not it would have an adverse effect on any Awards made under the Plan.
No Participant, beneficiary or other person shall have any claim against the Company or any Subsidiary as a result of any corporate
action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Unfunded Plan.</U> The Plan is intended to constitute an unfunded plan for incentive compensation. Prior to the issuance
of Shares, cash or other form of payment in connection with an Award, nothing contained herein shall give any Participant any rights
that are greater than those of a general unsecured creditor of the Company. The Committee may, but is not obligated to, authorize
the creation of trusts or other arrangements to meet the obligations created under the Plan to deliver Shares with respect to Awards
hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Award Document.</U> In the event of any conflict or inconsistency between the Plan and any Award Document, the Plan shall
govern and the Award Document shall be interpreted to minimize or eliminate the conflict or inconsistency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Successors and Assigns.</U> All obligations of the Company under the Plan with respect to Awards shall be binding on
any successor or assign to the Company, whether the existence of the successor is the result of a direct or indirect purchase,
merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Application of Funds.</U> The proceeds received by the Company from the sale of Shares pursuant to Awards will be used
for general corporate purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Headings.</U> The headings of Sections herein are included solely for convenience of reference and shall not affect the
meaning of any of the provisions of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Severability.</U> If any provision of this Plan is held unenforceable, the remainder of the Plan shall continue in full
force and effect without regard to such unenforceable provision and shall be applied as though the unenforceable provision were
not contained in the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(m)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Expenses.</U> The costs and expenses of administering the Plan shall be borne by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(n)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Section
409A of the Code.</U> Notwithstanding any contrary provision in the Plan or an Award Document, if any provision of the Plan
or an Award Document contravenes any regulations or guidance promulgated under Section 409A of the Code or would cause an
Award to be subject to additional taxes, accelerated taxation, interest and/or penalties under Section 409A of the Code, such
provision of the Plan or Award Document may be modified by the Committee without consent of the Participant in any manner the
Committee deems reasonable or necessary. In making such modifications the Committee shall attempt, but shall not be
obligated, to maintain, to the maximum extent practicable, the original intent of the applicable provision without
contravening the provisions of Section 409A of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of Section 409A, each payment
or settlement provided under this Plan shall be treated as a separate payment. Moreover, any discretionary authority that the Committee
may have pursuant to the Plan shall not be applicable to an Award that is subject to Section 409A of the Code to the extent such
discretionary authority would contravene Section 409A of the Code or the guidance promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding any contrary provision
in the Plan or Award Document, any payment(s) of &ldquo;nonqualified deferred compensation&rdquo; (within the meaning of Section
409A of the Code) that are otherwise required to be made under the Plan to a &ldquo;specified employee&rdquo; (as defined under
Section 409A of the Code) as a result of such employee's separation from service (other than a payment that is not subject to Section
409A of the Code) shall be delayed for the first six (6) months following such separation from service (or, if earlier, the date
of death of the specified employee) and shall instead be paid (in a manner set forth in the Award Document) upon expiration of
such delay period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(o)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Company Recoupment of Awards.</U> A Participant's rights with respect to any Award hereunder shall in all events be subject
to (i) any right that the Company may have under any Company recoupment policy or other agreement or arrangement with a Participant,
or (ii) any right or obligation that the Company may have regarding the clawback of &ldquo;incentive-based compensation&rdquo;
under Section 10D of the Exchange Act and any applicable rules and regulations promulgated thereunder from time to time by the
U.S. Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(p)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Governing Law.</U> Except as to matters of federal law, the Plan and all actions taken thereunder shall be governed by
and construed in accordance with the laws of the State of Delaware (other than its conflict of law rules).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>Exhibit 4.1

 

PLACEMENT AGENCY AGREEMENT

 

February 12, 2021

 

Globus
Maritime Limited

128 Vouliagmenis Avenue, 3rd Floor

166 74 Glyfada

Athens, Greece

Attention: Athanasios Feidakis, Chief Executive Officer

 

Dear Mr. Feidakis:

 

This agreement (the “Agreement”)
constitutes the agreement between Maxim Group LLC (the “Placement Agent”) and Globus
Maritime Limited, a Republic of the Marshall Islands corporation (the “Company”), pursuant to which the
Placement Agent shall serve as the exclusive placement agent for the Company, on a “reasonable best efforts” basis,
in connection with the proposed placement (the “Placement”) of registered common shares (the “Shares”)
of the Company, par value $0.004 per share (the “Common Stock”), pre-funded warrants to purchase Common Shares
(collectively, the “Pre-Funded Warrants”) and Warrants (collectively, the “Warrants”) to
purchase shares of Common Stock (the shares of Common Stock underlying the Pre-Funded Warrants and the Warrants, collectively with
the Pre-Funded Warrants, the Warrants and the Shares, the “Securities”). The terms of the Placement and the
Securities shall be mutually agreed upon by the Company and the purchasers (each, a “Purchaser” and collectively,
the “Purchasers”) and nothing herein constitutes that the Placement Agent would have the power or authority
to bind the Company or any Purchaser or an obligation for the Company to issue any Securities or complete the Placement. This Agreement
and the documents executed and delivered by the Company and the Purchasers in connection with the Placement, including but not
limited to the Purchase Agreement (as defined below), the form of the Pre-Funded Warrants and the form of the Warrants shall be
collectively referred to herein as the “Transaction Documents.” The date of the closing of the Placement shall
be referred to herein as the “Closing Date.” The Company expressly acknowledges and agrees that the Placement
Agent’s obligations hereunder are on a reasonable best efforts basis only and that the execution of this Agreement does not
constitute a commitment by the Placement Agent to purchase the Securities and does not ensure the successful placement of the Securities
or any portion thereof or the success of the Placement Agent with respect to securing any other financing on behalf of the Company.
With the prior written consent of the Company, the Placement Agent may retain other brokers or dealers to act as sub-agents or
selected-dealers on its behalf in connection with the Placement. The sale of the Securities to any Purchaser will be evidenced
by a securities purchase agreement (the “Purchase Agreement”) between the Company and such Purchaser in a form
reasonably acceptable to the Company and the Placement Agent. Capitalized terms that are not otherwise defined herein have the
meanings given to such terms in the Purchase Agreement. Prior to the signing of any Purchase Agreement, officers of the Company
will be available to answer inquiries from prospective Purchasers.

 

     

     

    

 

SECTION 1.      REPRESENTATIONS
AND WARRANTIES OF THE COMPANY; COVENANTS OF THE COMPANY.

 

A.           Representations
of the Company. Each of the representations and warranties (together with any related disclosure schedules thereto) and covenants
made by the Company to the Purchasers in the Purchase Agreement in connection with the Placement is hereby incorporated herein
by reference into this Agreement (as though fully restated herein) and is, as of the date of this Agreement and as of the Closing
Date, hereby made to, and in favor of, the Placement Agent. In addition to the foregoing, the Company represents and warrants that:

 

1.            The
Company has prepared and filed with the U.S. Securities and Exchange Commission (the “Commission”) a registration
statement on Form F-3 (Registration No. 333-240265), and amendments thereto, and related preliminary prospectuses, for
the registration under the Securities Act of 1933, as amended (the “Securities Act”), of the Securities which
registration statement, as so amended (including post-effective amendments, if any) became effective on August 12, 2020. At
the time of such filing, the Company met the requirements of Form F-3 under the Securities Act. Such registration statement
meets the requirements set forth in Rule 415(a)(1)(x) under the Securities Act and complies with said Rule. The Company
will file with the Commission pursuant to Rule 424(b) under the Securities Act, and the rules and regulations (the
 “Rules and Regulations”) of the Commission promulgated thereunder, a supplement to the form of prospectus
included in such registration statement relating to the placement of the Securities and the plan of distribution thereof and has
advised the Placement Agent of all further information (financial and other) with respect to the Company required to be set forth
therein. Such registration statement, including the exhibits thereto, as amended at the date of this Agreement, is hereinafter
called the “Registration Statement”; such prospectus in the form in which it appears in the Registration Statement
is hereinafter called the “Base Prospectus”; and the supplemented form of prospectus, in the form in which it
will be filed with the Commission pursuant to Rule 424(b) (including the Base Prospectus as so supplemented) is hereinafter
called the “Prospectus Supplement.” Any reference in this Agreement to the Registration Statement, the Base
Prospectus or the Prospectus Supplement shall be deemed to refer to and include the documents incorporated by reference therein
(the “Incorporated Documents”) pursuant to Item 6 of Form F-3 which were filed under the Exchange Act on
or before the date of this Agreement, or the issue date of the Base Prospectus or the Prospectus Supplement, as the case may be;
and any reference in this Agreement to the terms “amend,” “amendment” or “supplement” with
respect to the Registration Statement, the Base Prospectus or the Prospectus Supplement shall be deemed to refer to and include
the filing of any document under the Exchange Act after the date of this Agreement, or the issue date of the Base Prospectus or
the Prospectus Supplement, as the case may be, deemed to be incorporated therein by reference. All references in this Agreement
to financial statements and schedules and other information which is “contained,” “included,” “described,”
 “referenced,” “set forth” or “stated” in the Registration Statement, the Base Prospectus or
the Prospectus Supplement (and all other references of like import) shall be deemed to mean and include all such financial statements
and schedules and other information which is or is deemed to be incorporated by reference in the Registration Statement, the Base
Prospectus or the Prospectus Supplement, as the case may be. No stop order suspending the effectiveness of the Registration Statement
or the use of the Base Prospectus or the Prospectus Supplement has been issued, and no proceeding for any such purpose is pending
or has been initiated or, to the Company’s knowledge, is threatened by the Commission. For purposes of this Agreement, “free
writing prospectus” has the meaning set forth in Rule 405 under the Securities Act and the “Time of Sale
Prospectus” means the preliminary prospectus, if any, together with the free writing prospectuses, if any, used in connection
with the Placement, including any documents incorporated by reference therein.

 

    2

     

    

 

2.            The
Registration Statement (and any further documents to be filed with the Commission) contains all exhibits and schedules as required
by the Securities Act. Each of the Registration Statement and any post-effective amendment thereto, at the time it became effective,
complied in all material respects with the Securities Act and the Exchange Act and the applicable Rules and Regulations and
did not and, as amended or supplemented, if applicable, will not, contain any untrue statement of a material fact or omit to state
a material fact required to be stated therein or necessary to make the statements therein not misleading. The Base Prospectus,
the Time of Sale Prospectus and the Prospectus Supplement, each as of its respective date, comply in all material respects with
the Securities Act and the Exchange Act and the applicable Rules and Regulations. Each of the Base Prospectus, the Time of
Sale Prospectus and the Prospectus Supplement, as amended or supplemented, did not and will not contain as of the date thereof
any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading. The Incorporated Documents, when they were filed with
the Commission, conformed in all material respects to the requirements of the Exchange Act and the applicable Rules and Regulations,
and none of such documents, when they were filed with the Commission, contained any untrue statement of a material fact or omitted
to state a material fact necessary to make the statements therein (with respect to Incorporated Documents incorporated by reference
in the Base Prospectus or Prospectus Supplement), in the light of the circumstances under which they were made not misleading;
and any further documents so filed and incorporated by reference in the Base Prospectus, the Time of Sale Prospectus or Prospectus
Supplement, when such documents are filed with the Commission, will conform in all material respects to the requirements of the
Exchange Act and the applicable Rules and Regulations, as applicable, and will not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading. No post-effective amendment to the Registration Statement reflecting any facts or events arising after
the date thereof which represent, individually or in the aggregate, a fundamental change in the information set forth therein is
required to be filed with the Commission. There are no documents required to be filed with the Commission in connection with the
transaction contemplated hereby that (x) have not been filed as required pursuant to the Securities Act or (y) will not
be filed within the requisite time period. There are no contracts or other documents required to be described in the Base Prospectus,
the Time of Sale Prospectus or Prospectus Supplement, or to be filed as exhibits or schedules to the Registration Statement, which
(x) have not been described or filed as required or (y) will not be filed within the requisite time period.

 

3.            The
Company is eligible to use free writing prospectuses in connection with the Placement pursuant to Rules 164 and 433 under
the Securities Act. Any free writing prospectus that the Company is required to file pursuant to Rule 433(d) under the
Securities Act has been, or will be, filed with the Commission in accordance with the requirements of the Securities Act and the
applicable rules and regulations of the Commission thereunder. Each free writing prospectus that the Company has filed, or
is required to file, pursuant to Rule 433(d) under the Securities Act or that was prepared by or behalf of or used by
the Company complies or will comply in all material respects with the requirements of the Securities Act and the applicable rules and
regulations of the Commission thereunder. The Company will not, without the prior consent of the Placement Agent, prepare, use
or refer to, any free writing prospectus.

 

    3

     

    

 

4.            There
are no affiliations with any FINRA member firm among the Company’s officers, directors or, to the knowledge of the Company,
any five percent (5.0%) or greater shareholder of the Company, except as set forth in the Registration Statement and the other
documents the Company has filed or furnished with the Commission.

 

B.           Covenants
of the Company. The Company has delivered, or will as promptly as practicable deliver, to the Placement Agent materially complete
conformed copies of the Registration Statement and of each consent and certificate of experts, as applicable, filed as a part thereof,
and conformed copies of the Registration Statement (without exhibits), the Base Prospectus, the Time of Sale Prospectus and the
Prospectus Supplement, as amended or supplemented, in such quantities and at such places as the Placement Agent reasonably requests.
Neither the Company nor any of its directors and officers has distributed and none of them will distribute, prior to the Closing
Date, any offering material in connection with the offering and sale of the Securities pursuant to the Placement other than the
Base Prospectus, the Time of Sale Prospectus, the Prospectus Supplement, the Registration Statement, copies of the documents incorporated
by reference therein and any other materials permitted by the Securities Act.

 

SECTION 2.       REPRESENTATIONS
OF THE PLACEMENT AGENT. The Placement Agent represents and warrants that it (i) is a member in good standing of FINRA,
(ii) is registered as a broker/dealer under the Exchange Act, (iii) is licensed as a broker/dealer under the laws of
the states applicable to the offers and sales of the Securities by such Placement Agent, (iv) is and will be a body corporate
validly existing under the laws of its place of incorporation, and (v) has full power and authority to enter into and perform
its obligations under this Agreement. The Placement Agent will immediately notify the Company in writing of any change in its
status as such. The Placement Agent covenants that it will use its reasonable best efforts to conduct the Placement hereunder
in compliance with the provisions of this Agreement and the requirements of applicable law.

 

SECTION 3.       COMPENSATION.
In consideration of the services to be provided for hereunder, the Company shall pay to the Placement Agent or their respective
designees their pro rata portion (based on the Securities placed) of the following compensation with respect to the Securities
which they are placing:

 

A.           A
cash fee (the “Cash Fee”) equal to an aggregate of seven percent (7%) of the aggregate gross proceeds raised
in the Placement. The Cash Fee shall be paid at the closing of the Placement (the “Closing”).

 

B.           Subject
to compliance with FINRA Rule 5110(f)(2)(D), the Company also agrees, in case of Closing of the Placement, to reimburse the
Placement Agent for all travel and other out-of-pocket expenses incurred, including the reasonable fees, costs and disbursements
of its legal counsel, in an amount not to exceed an aggregate of $40,000 (against invoices provided to the Company). The Company
will reimburse Placement Agent directly upon the Closing of the Placement from the gross proceeds raised in the Placement (if detailed
invoices are provided in advance).

 

    4

     

    

 

C.           In
addition, if within the Participation Period (as defined below) the Company completes any financing of equity, equity-linked, or
debt (but excluding commercial or bank debt) of the Company (other than the exercise by any person or entity of any options, warrants
or other convertible securities) with the six investors who are participating in the offering to which this Agreement relates (the
 “PA Investors”), if the Placement Agent is not acting as an underwriter or placement agent in such financing,
then the Company will pay to the Placement Agent upon the closing of such financing as a financing participation right the compensation
set forth in Section 3(A) above with respect the funds received by the Company from the PA Investors. The “Participation
Period” shall be the period of time nine (9) months after the Closing.

 

D.           The
Placement Agent reserves the right to reduce any item of its compensation or adjust the terms thereof as specified herein in the
event that a determination shall be made by FINRA to the effect that such Placement Agent’s aggregate compensation is in
excess of FINRA rules or that the terms thereof require adjustment.

 

SECTION 4.       INDEMNIFICATION.
The Company agrees to the indemnification and other agreements set forth in the Indemnification Provisions (the “Indemnification”)
attached hereto as Addendum A, the provisions of which are incorporated herein by reference and shall survive the termination
or expiration of this Agreement.

 

SECTION 5.       ENGAGEMENT
TERM. The Placement Agent’s engagement hereunder shall be until the earlier of (i) the final closing date of the
Placement, (ii) the date the Company elects to terminate this Agreement, and (iii) February 25, 2021. If the Company
elects to terminate this Agreement prior to Closing for any reason even though the Placement Agent and all purchasers under the
Purchase Agreement were prepared to proceed with the Closing within the intent of this Agreement and the Purchase Agreement, and
if within nine (9) months following such termination, the Company completes any financing of equity, equity-linked or debt
(but excluding commercial or bank debt) of the Company (other than the exercise by any person or entity of any options, warrants
or other convertible securities) with any PA Investor, if the Placement Agent is not acting as an underwriter or placement agent
in such financing, then the Company will pay the Placement Agent upon the closing of such financing the compensation set forth
in Section 3(A) above to the extent of the gross proceeds received by the Company from such PA Investors. Notwithstanding
anything to the contrary contained herein, the provisions concerning confidentiality and indemnification and contribution contained
herein and the Company’s obligations contained in the Indemnification Provisions will survive any expiration or termination
of this Agreement. The Placement Agent agrees not to use any confidential information concerning the Company provided to the Placement
Agent by the Company for any purposes other than those contemplated under this Agreement.

 

    5

     

    

 

SECTION 6.       PLACEMENT
AGENT INFORMATION. The Company agrees that any information or advice rendered by the Placement Agent in connection with this
engagement is for the confidential use of the Company only in their evaluation of the Placement and, except as otherwise required
by law, the Company will not disclose or otherwise refer to the advice or information in any manner without the Placement Agent’s
prior written consent.

 

SECTION 7.       NO
FIDUCIARY RELATIONSHIP. This Agreement does not create, and shall not be construed as creating rights enforceable by any person
or entity not a party hereto, except those entitled hereto by virtue of the Indemnification Provisions hereof. The Company acknowledges
and agrees that the Placement Agent is not and shall not be construed as a fiduciary of the Company and shall have no duties or
liabilities to the equity holders or the creditors of the Company or any other person by virtue of this Agreement or the retention
of such Placement Agent hereunder, all of which are hereby expressly waived.

 

SECTION 8.       CLOSING.
The obligations of the Placement Agent, and the closing of the sale of the Securities hereunder are subject to the accuracy, when
made and on the Closing Date, of the representations and warranties on the part of the Company and its subsidiaries contained
herein and in the Purchase Agreement, to the accuracy of the statements of the Company and its subsidiaries made in any certificates
pursuant to the provisions hereof, to the performance by the Company and its subsidiaries of their obligations hereunder, and
to each of the following additional terms and conditions, except as otherwise disclosed to and acknowledged and waived by the
Placement Agent to the Company:

 

A.           No
stop order suspending the effectiveness of the Registration Statement shall have been issued and no proceedings for that purpose
shall have been initiated or threatened by the Commission, and any request for additional information on the part of the Commission
(to be included in the Registration Statement, the Base Prospectus, the Prospectus Supplement or otherwise) shall have been complied
with to the reasonable satisfaction of the Placement Agent. Any filings required to be made by the Company in connection with the
Placement shall have been timely filed with the Commission.

 

B.           The
Placement Agent shall not have discovered and disclosed to the Company on or prior to the Closing Date that the Registration Statement,
the Base Prospectus, the Prospectus Supplement or any amendment or supplement thereto contains an untrue statement of a fact which,
in the reasonable opinion of counsel for the Placement Agent, is material or omits to state any fact which, in the reasonable opinion
of such counsel, is material and is required to be stated therein or is necessary to make the statements therein not misleading.

 

C.           All
corporate proceedings and other legal matters incident to the authorization, form, execution, delivery and validity of each of
this Agreement, the Shares, the Registration Statement, the Base Prospectus and the Prospectus Supplement and all other legal matters
relating to this Agreement and the transactions contemplated hereby shall be reasonably satisfactory in all material respects to
counsel for the Placement Agent, and the Company shall have furnished to such counsel all documents and information that they may
reasonably request to enable them to pass upon such matters.

 

D.           The
Placement Agent shall have received from outside counsel to the Company such counsel’s written opinions, addressed to the
Placement Agent and the Purchasers and dated as of the Closing Date, in form and substance reasonably satisfactory to the Placement
Agent.

 

    6

     

    

 

E.           On
the Closing Date, the Placement Agent shall have received a “comfort” letter from Ernst &
Young (Hellas) Certified Auditors-Accountants S.A. (the Company’s independent registered accounting firm) (“E&Y”)
as of each such date, addressed to each of the Placement Agent and in form and substance satisfactory in all respects to the Placement
Agent and Placement Agent’s counsel.

 

F.            On
the Closing Date, Placement Agent shall have received a certificate of the chief financial officer of the Company, dated, as applicable,
as of the date of such Closing, to the effect that, as of the date of this Agreement and as of the applicable date, the representations
and warranties of the Company contained herein and in the Purchase Agreement were and are accurate in all material respects, except
for such changes as are contemplated by this Agreement and except as to representations and warranties that were expressly limited
to a state of facts existing at a time prior to the applicable Closing Date, and that, as of the applicable date, the obligations
to be performed by the Company hereunder on or prior thereto have been fully performed in all material respects. Such officer shall
also provide a customary certification as to such accounting or financial matters that are included or incorporated by reference
in the Registration Statement or the Prospectus Supplement that E&Y is unable to provide assurances on in the letter contemplated
by Section 8(E) above.

 

G.           On
the Closing Date, Placement Agent shall have received a certificate of the Secretary of the Company, dated, as applicable, as of
the date of such Closing, certifying to the organizational documents, good standing in the jurisdiction of incorporation of the
Company and board resolutions relating to the Placement of the Securities from the Company.

 

H.           Neither
the Company nor any of its subsidiaries (i) shall have sustained since the date of the latest audited financial statements
included or incorporated by reference in the Registration Statement, the Base Prospectus and the Prospectus Supplement, any loss
or interference with its business from fire, explosion, flood, terrorist act or other calamity, whether or not covered by insurance,
or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth in or contemplated by the
Registration Statement, the Base Prospectus and the Prospectus Supplement, (ii) since such date there shall not have been
any change in the capital stock or long-term debt of the Company or any of its subsidiaries or any change, or any development involving
a prospective change, in or affecting the business, general affairs, management, financial position, shareholders’ equity,
results of operations or prospects of the Company and its subsidiaries, otherwise than as set forth in or contemplated by the Registration
Statement, the Base Prospectus and the Prospectus Supplement, and (iii) since such date there shall not have been any new
or renewed inquiries by the Commission, FINRA or any other regulatory body regarding the Company, the effect of which, in any such
case described in clause (i), (ii) or (iii), is, in the judgment of the Placement Agent, so material and adverse as to make
it impracticable or inadvisable to proceed with the sale or delivery of the Securities on the terms and in the manner contemplated
by the Base Prospectus, Time of Sale Prospectus and Prospectus Supplement.

 

    7

     

    

 

I.            The
Common Stock is registered under the Exchange Act and, as of the Closing Date, the Shares shall be listed and admitted and authorized
for trading on the Trading Market or other applicable U.S. national exchange, or an application for such listing shall have been
submitted to the Trading Market, and satisfactory evidence of such action shall have been provided to the Placement Agent. The
Company shall have taken no action designed to, or likely to have the effect of terminating the registration of the Common Stock
under the Exchange Act or delisting or suspending from trading the Common Stock from the Trading Market or other applicable U.S.
national exchange, nor, except as disclosed in the Base Prospectus, Time of Sale Prospectus and Prospectus Supplement, has the
Company received any information suggesting that the Commission or the Trading Market or other U.S. applicable national exchange
is contemplating terminating such registration or listing.

 

J.            No
action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any governmental
agency or body which would, as of the Closing Date, prevent the issuance or sale of the Securities or materially and adversely
affect or potentially and adversely affect the business or operations of the Company; and no injunction, restraining order or order
of any other nature by any federal or state court of competent jurisdiction shall have been issued as of the Closing Date which
would prevent the issuance or sale of the Securities or materially and adversely affect or potentially and adversely affect the
business or operations of the Company.

 

K.           The
Company shall have prepared and filed with the Commission a Form 6-K with respect to the Placement, including as an exhibit
thereto this Agreement.

 

L.           The
Company shall have entered into a Purchase Agreement with each of the Purchasers and such agreements shall be in full force and
effect and shall contain representations, warranties and covenants of the Company as agreed between the Company and the Purchasers.

 

M.          FINRA
shall have raised no objection to the fairness and reasonableness of the terms and arrangements of this Agreement. In addition,
the Company shall, if requested by the Placement Agent, make or authorize Placement Agent’s counsel to make on the Company’s
behalf, any filing with the FINRA Corporate Financing Department pursuant to FINRA Rule 5110 with respect to the Placement
and pay all filing fees required in connection therewith.

 

N.           Prior
to the Closing Date, the Company shall have furnished to the Placement Agent such further information, certificates and documents
as the Placement Agent may reasonably request.

 

If any of the conditions specified in this
Section 8 shall not have been fulfilled when and as required by this Agreement, or if any of the certificates, opinions, written
statements or letters furnished to the Placement Agent or to Placement Agent’s counsel pursuant to this Section 8 shall
not be reasonably satisfactory in form and substance to the Placement Agent and to Placement Agent’s counsel, all obligations
of the Placement Agent hereunder may be cancelled by the Placement Agent at, or at any time prior to, the consummation of the Closing.
Notice of such cancellation shall be given to the Company in writing or orally. Any such oral notice shall be confirmed promptly
thereafter in writing.

 

    8

     

    

 

SECTION 9.       WARRANT
SOLICITATION FEE. The Company hereby agrees to pay the Placement Agent a warrant solicitation fee of six percent (6%) of the
gross proceeds received by the Company for each exercise of a Warrant sold in the Placement that has been solicited by the Placement
Agent at the request of the Company. The warrant solicitation fee will be payable in cash.

 

SECTION 10.     GOVERNING
LAW; AGENT FOR SERVICE OF PROCESS, ETC. This Agreement will be governed by, and construed in accordance with, the laws
of the State of New York applicable to agreements made and to be performed entirely in such State, without regard to the conflicts
of laws principles thereof. This Agreement may not be assigned by either party without the prior written consent of the other
party. This Agreement shall be binding upon and inure to the benefit of the parties hereto, and their respective successors and
permitted assigns. Any right to trial by jury with respect to any dispute arising under this Agreement or any transaction or conduct
in connection herewith is waived. Any dispute arising under this Agreement may be brought into the courts of the State of New
York or into the federal court located in New York, New York and, by execution and delivery of this Agreement, the Company hereby
accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of aforesaid courts. Each party
hereto hereby irrevocably waives personal service of process and consents, to the extent permitted by applicable law, to process
being served in any such suit, action or proceeding by delivering a copy thereof via overnight delivery (with evidence of delivery)
to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good
and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to
serve process in any manner permitted by law. The Company agrees that a final judgment in any such action, proceeding or counterclaim
brought in any such court shall be conclusive and binding upon the Company and may be enforced in any other courts to the jurisdiction
of which the Company is or may be subject, by suit upon such judgment. If either party shall commence an action or proceeding
to enforce any provisions of a Transaction Document, then the prevailing party in such action or proceeding shall be reimbursed
by the other party for its attorney’s fees and other costs and expenses incurred with the investigation, preparation and
prosecution of such action or proceeding. In addition to and without limiting the foregoing, the Company has confirms that it
has appointed Watson Farley & Williams LLP, 250 West 55th Street, 31st Floor, New York, New York 10019, as its authorized
agent (the “Authorized Agent”) upon whom process may be served in any suit, action or proceeding arising out
of or based upon the this Agreement or the Transaction Documents or the transactions contemplated herein which may be instituted
in any New York federal or state court, by the Placement Agent, the directors, officers, partners, members, managers, employees
and agents of the Placement Agent, and expressly accept the non-exclusive jurisdiction of any such court in respect of any such
suit, action or proceeding. The Company hereby represents and warrants that the Authorized Agent has accepted such appointment
and has agreed to act as said agent for service of process, and the Company agrees to take any and all action, including the filing
of any and all documents that may be necessary to continue such appointment in full force and effect as aforesaid. The Company
hereby authorizes and directs the Authorized Agent to accept such service. Service of process upon the Authorized Agent shall
be deemed, in every respect, effective service of process upon the Company. If the Authorized Agent shall cease to act as agent
for service of process, the Company shall appoint, without unreasonable delay, another such agent in the United States, and notify
you of such appointment. Notwithstanding the foregoing, any action arising out of or based upon this Agreement may be instituted
by the Placement Agent, the directors, officers, partners, members, managers, employees and agents of the Placement Agent, in
any court of competent jurisdiction in the Republic of the Marshall Islands. This paragraph shall survive any termination of this
Agreement, in whole or in part.

 

    9

     

    

 

SECTION 11.     ENTIRE
AGREEMENT/MISC. This Agreement (including the attached Indemnification Provisions) embodies the entire agreement and understanding
between the parties hereto, and supersedes all prior agreements and understandings, relating to the subject matter hereof, except
for that certain Underwriting Agreement dated June 18, 2020 by and between the Placement Agent and the Company, that certain
Placement Agency Agreement dated June 26, 2020 between the Placement Agent and the Company, that certain Placement Agency
Agreement dated July 17, 2020 between the Placement Agent and the Company, that certain Placement Agency Agreement dated
December 7, 2020 between the Placement Agent and the Company, and that certain Placement Agency Agreement dated January 27,
2021 between the Placement Agent and the Company. If any provision of this Agreement is determined to be invalid or unenforceable
in any respect, such determination will not affect such provision in any other respect or any other provision of this Agreement,
which will remain in full force and effect. This Agreement may not be amended or otherwise modified or waived except by an instrument
in writing signed by both Placement Agent and the Company. The representations, warranties, agreements and covenants contained
herein shall survive the closing of the Placement and delivery of the Securities. This Agreement may be executed in two or more
counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when
counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign
the same counterpart. In the event that any signature is delivered by facsimile transmission or a .pdf format file, such signature
shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same
force and effect as if such facsimile or .pdf signature page were an original thereof.

 

SECTION 12.     CONFIDENTIALITY.
The Placement Agent (i) will keep the Confidential Information (as such term is defined below) confidential and will not
(except as required by applicable law or stock exchange requirement, regulation or legal process (“Legal Requirement”),
without the Company’s prior written consent, disclose to any person any Confidential Information, and (ii) will not
use any Confidential Information other than in connection with the Placement. The Placement Agent further agrees, severally and
not jointly, to disclose the Confidential Information only to its Representatives (as such term is defined below) who need to
know the Confidential Information for the purpose of the Placement, and who are informed by the Placement Agent of the confidential
nature of the Confidential Information. The term “Confidential Information” shall mean, all confidential, proprietary
and non-public information (whether written, oral or electronic communications) furnished by the Company to a Placement Agent
or its Representatives in connection with such Placement Agent’s evaluation of the Placement. The term “Confidential
Information” will not, however, include information which (i) is or becomes publicly available other than as a
result of a disclosure by a Placement Agent or its Representatives in violation of this Agreement, (ii) is or becomes available
to a Placement Agent or any of its Representatives on a non-confidential basis from a third-party, (iii) is known to a Placement
Agent or any of its Representatives prior to disclosure by the Company or any of its Representatives, or (iv) is or has been
independently developed by a Placement Agent and/or the Representatives without use of any Confidential Information furnished
to it by the Company. The term “Representatives” shall mean the Placement Agent’s directors, board committees,
officers, employees, financial advisors, attorneys and accountants. This provision shall be in full force until the earlier of
(a) the date that the Confidential Information ceases to be confidential and (b) two years from the date hereof. Notwithstanding
any of the foregoing, in the event that the Placement Agent or any of their respective Representatives are required by Legal Requirement
to disclose any of the Confidential Information, such Placement Agent and their respective Representatives will furnish only that
portion of the Confidential Information which such Placement Agent or their respective Representative, as applicable, is required
to disclose by Legal Requirement as advised by counsel, and will use reasonable efforts to obtain reliable assurance that confidential
treatment will be accorded the Confidential Information so disclosed.

 

    10

     

    

 

SECTION 13.     NOTICES.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and
shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is sent
to the email address specified on the signature pages attached hereto prior to 6:30 p.m. (New York City time) on a business
day, (b) the next business day after the date of transmission, if such notice or communication is sent to the email address
on the signature pages attached hereto on a day that is not a business day or later than 6:30 p.m. (New York City time)
on any business day, (c) the third business day following the date of mailing, if sent by U.S. internationally recognized
air courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The address for
such notices and communications shall be as set forth on the signature pages hereto.

 

SECTION 14.     PRESS
ANNOUNCEMENTS. The Company agrees that the Placement Agent shall, from and after any Closing, have the right to reference
the Placement and the Placement Agent’ role in connection therewith in the Placement Agent’ marketing materials and
on its website and to place advertisements in financial and other newspapers and journals, in each case at its own expense.

 

[The remainder of this page has
been intentionally left blank.]

 

    11

     

    

 

Please confirm that the foregoing correctly
sets forth our agreement by signing and returning to Maxim the enclosed copy of this Agreement.

 

	 	Very truly yours,
	 	 	 
	 	MAXIM GROUP LLC
	 	 	 
	 	By:	/s/ Clifford A. Teller
	 	Name:	Clifford A. Teller
	 	Title:	 Executive Managing Director, Investment Banking

 

	 	Address for notice:
	 	405 Lexington Avenue
	 	New York, New York 10174
	 	Attention:	Clifford A. Teller
	 	Email:	cteller@maximgrp.com

 

Accepted and Agreed to as of the date first written
above:

 

GLOBUS MARITIME LIMITED

 

	By:	/s/ Athanasios Feidakis	 
	Name:	Athanasios Feidakis	 
	Title:	Chief Executive Officer	 

 

 

	Address for notice:	Globus Maritime Limited
	 	128 Vouliagmenis Avenue, 3rd Floor
	 	166 74 Glyfada
	 	Athens, Greece
	 	Attention:	Athanasios Feidakis, Chief Executive Officer
	 	Email:	a.g.feidakis@globusmaritime.gr

 

    

     

    

 

ADDENDUM A

 

INDEMNIFICATION PROVISIONS

 

In connection with the engagement of Maxim
Group LLC (the “Placement Agent”) by Globus Maritime Limited (the “Company”)
pursuant to a placement agency agreement dated as of the date hereof, between the Company and the Placement Agent, as it may be
amended from time to time in writing (the “Agreement”), the Company hereby agrees as follows:

 

1.            To
the extent permitted by law, the Company will indemnify the Placement Agent and its affiliates, directors, officers, employees
and controlling persons (within the meaning of Section 15 of the Securities Act of 1933, as amended, or Section 20 of
the Securities Exchange Act of 1934) against all losses, claims, damages, expenses and liabilities, as the same are incurred (including
the reasonable fees and expenses of counsel), relating to or arising out of its activities hereunder or pursuant to the Agreement,
except, with regard to the Placement Agent, to the extent that any losses, claims, damages, expenses or liabilities (or actions
in respect thereof) are found in a final judgment (not subject to appeal) by a court of law to have resulted primarily and directly
from any indemnitee’s willful misconduct or gross negligence.

 

2.            Promptly
after receipt by the Placement Agent of notice of any claim or the commencement of any action or proceeding with respect to which
the Placement Agent is entitled to indemnity hereunder, the Placement Agent will notify the Company in writing of such claim or
of the commencement of such action or proceeding, and the Company will assume the defense of such action or proceeding and will
employ counsel reasonably satisfactory to the Placement Agent and will pay the fees and expenses of such counsel. Notwithstanding
the preceding sentence, the Placement Agent will be entitled to employ counsel separate from counsel for the Company and from any
other party in such action if counsel for the Placement Agent reasonably determines that it would be inappropriate under the applicable
rules of professional responsibility for the same counsel to represent both the Company and the Placement Agent. In such event,
the reasonable fees and disbursements of no more than one such separate counsel will be paid by the Company. The Company will have
the exclusive right to settle the claim or proceeding provided that the Company will not settle any such claim, action or proceeding
without the prior written consent of the Placement Agent, which will not be unreasonably withheld. The Placement Agent and all
other indemnitees shall not settle any claim, action or proceeding without the prior written consent of the Company.

 

3.            The
Company agrees to notify the Placement Agent promptly of the assertion against it or any other person of any claim or the commencement
of any action or proceeding relating to a transaction contemplated by the Agreement.

 

    A-1

     

    

 

4.            If
for any reason the foregoing indemnity is unavailable to the Placement Agent or insufficient to hold the Placement Agent harmless,
then the Company shall contribute to the amount paid or payable by the Placement Agent, as the case may be, as a result of such
losses, claims, damages or liabilities in such proportion as is appropriate to reflect not only the relative benefits received
by the Company on the one hand, and the Placement Agent on the other, but also the relative fault of the Company on the one hand
and the Placement Agent on the other that resulted in such losses, claims, damages or liabilities, as well as any relevant equitable
considerations. The amounts paid or payable by a party in respect of losses, claims, damages and liabilities referred to above
shall be deemed to include any legal or other fees and expenses incurred in defending any litigation, proceeding or other action
or claim. Notwithstanding the provisions hereof, the Placement Agent’s share of the liability hereunder shall not be in
excess of the amount of fees actually received, or to be received, by the Placement Agent under the Agreement (excluding any amounts
received as reimbursement of expenses incurred by the Placement Agent).

 

5.            These
Indemnification Provisions shall remain in full force and effect whether or not the transaction contemplated by the Agreement is
completed and shall survive the termination of the Agreement, and shall be in addition to any liability that the Company might
otherwise have to any indemnified party under the Agreement or otherwise.

 

    A-2

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