Document:

Exhibit 10.8

 

DYNASTY FINANCIAL PARTNERS, INC.

 

2022 OMNIBUS INCENTIVE COMPENSATION PLAN

 

     

     

    

 

DYNASTY FINANCIAL PARTNERS, INC.

2022 OMNIBUS INCENTIVE COMPENSATION PLAN

 

ARTICLE
I

GENERAL

 

1.1 
The purpose of the Plan is to help the Company (1) attract, retain and motivate key employees, directors and consultants
of the Company; (2) align the interests of such persons with the Company’s stockholders; and (3) promote ownership of the Company’s
equity.

 

ARTICLE
II 

DEFINITIONS

 

2.1 
For purposes of this Plan, the following terms have the meanings set forth below:

 

2.1.1       
“Award” means an award made pursuant to the Plan.

 

2.1.2       
“Award Agreement” means the written document by which each Award is evidenced, and which may, but need
not be (as determined by the Committee), executed or acknowledged by a Grantee as a condition to receiving an Award or the benefits under
an Award, and which sets forth the terms and provisions applicable to Awards granted under the Plan to such Grantee. Any reference herein
to an agreement in writing will be deemed to include an electronic writing to the extent permitted by applicable law.

 

2.1.3       
“Board” means the Board of Directors of the Company.

 

2.1.4       
“Business Combination” has the meaning provided in the definition of Change in Control.

 

2.1.5       
“Cause” means (a) with respect to a Grantee employed pursuant to a written employment agreement which
agreement includes a definition of “Cause,” “Cause” as defined in that agreement or (b) with respect to any other
Grantee, the occurrence of any of the following: (i) such Grantee’s conviction of, or plea of guilty or no contest to, any felony
or any crime involving fraud, dishonesty or moral turpitude under the laws of the United States or any state thereof or under the laws
of any other jurisdiction, (ii) such Grantee’s attempted commission of, or participation in, a fraud or theft against the Company
or any client of the Company, (iii) such Grantee’s engagement in gross misconduct that causes financial or reputational harm to
the Company, (iv) such Grantee’s repeated failure to substantially perform his or her duties and responsibilities to the Company
(other than failure resulting from incapacity due to mental or physical illness or injury or from any permitted leave required by law),
(v) such Grantee’s material violation of any contract or agreement between the Grantee and the Company or any written Company policy,
(vi) such Grantee’s habitual abuse of narcotics or (vii) such Grantee’s disqualification or bar by any governmental or self-regulatory
authority from serving in the capacity required by his or her job description or such Grantee’s loss of any governmental or self-regulatory
license that is reasonably necessary for such Grantee to perform his or her duties or responsibilities, in each case as an Employee or
a Consultant, as applicable, of the Company.

 

     

     

    

 

2.1.6       
 “Certificate” means a stock certificate (or other appropriate document or evidence of ownership) representing
Shares.

 

2.1.7       
“Change in Control” means, except in connection with any initial public offering of the Common Stock,
the occurrence of any of the following events after the completion of the initial public offering of the Company:

 

(a)       during
any period of not more than 12 months, individuals who constitute the Board as of the beginning of the period (the “Incumbent
Directors”) cease for any reason to constitute at least a majority of the Board; provided that
any person becoming a director subsequent to the beginning of such period, whose election or nomination for election was approved by
(A) GF-Dynasty, LLC, a Delaware limited liability company (“GF-Dynasty”), and Shirl Penney in connection with
GF-Dynasty’s nomination rights under the Stockholders Agreement, by and among the Company, GF-Dynasty and, solely for the purposes
set forth therein, Shirl Penney, set forth on Exhibit 10.11 to the Company’s Registration Statement on Form S-1 and/or (B) a vote
of at least two-thirds of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement
of the Company in which such person is named as a nominee for director, without written objection to such nomination) will be an Incumbent
Director; provided, however, that no individual initially elected or nominated as a director of the Company as a result
of an actual or publicly threatened election contest with respect to directors or as a result of any other actual or publicly threatened
solicitation of proxies by or on behalf of any person other than the Board will be deemed to be an Incumbent Director;

 

(b)       any
 “person” (as such term is defined in Section 3(a)(9) of the Exchange Act and as used in Sections 13(d)(3) and 14(d)(2)
of the Exchange Act), is or becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) directly
or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then-outstanding
securities eligible to vote for the election of the Board (“Company Voting Securities”); provided, however,
that the event described in this paragraph (b) will not be deemed to be a Change in Control by virtue of the ownership, or acquisition,
of Company Voting Securities:  (A) by the Company, (B) by GF-Dynasty, (C) by Shirl Penney, (D) by any employee benefit
plan (or related trust) sponsored or maintained by the Company, (E) by any underwriter temporarily holding securities pursuant to an offering
of such securities or (F) pursuant to a Non-Qualifying Transaction (as defined in paragraph (c) of this definition);

 

(c)       the
consummation of a merger, consolidation, statutory share exchange or similar form of corporate transaction involving the Company
that requires the approval of the Company’s stockholders, whether for such transaction or the issuance of securities in the
transaction (a “Business Combination”), unless immediately following such Business Combination:
(A) more than 50% of the total voting power of (x) the entity resulting from such Business Combination (the
 “Surviving Entity”), or (y) if applicable, the ultimate parent corporation that directly or
indirectly has beneficial ownership of at least 95% of the voting power, is represented by Company Voting Securities that were
outstanding immediately prior to such Business Combination (or, if applicable, is represented by shares into which such Company
Voting Securities were converted pursuant to such Business Combination), and such voting power among the holders thereof is in
substantially the same proportion as the voting power of such Company Voting Securities among the holders thereof immediately prior
to the Business Combination, (B) no person (other than any employee benefit plan (or related trust) sponsored or maintained by
the Surviving Entity or the parent) is or becomes the beneficial owner, directly or indirectly, of 50% or more of the total voting
power of the outstanding voting securities eligible to elect directors of the parent (or, if there is no parent, the Surviving
Entity) and (C) at least a majority of the members of the board of directors of the parent (or, if there is no parent, the
Surviving Entity) following the consummation of the Business Combination were Incumbent Directors at the time of the Board’s
approval of the execution of the initial agreement providing for such Business Combination (any Business Combination which satisfies
all of the criteria specified in (A), (B) and (C) of this paragraph (c) will be deemed to be a “Non-Qualifying
Transaction”);

 

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(d)       the
consummation of a sale of all or substantially all of (A) the Company’s assets or (B) the Operating Company’s assets, in each
case, other than to an affiliate of the Company; or

 

(e)       the
Company’s stockholders approve a plan of complete liquidation or dissolution of the Company.

 

Notwithstanding the foregoing,
a Change in Control will not be deemed to occur solely because any person acquires beneficial ownership of more than 50% of the Company
Voting Securities as a result of the acquisition of Company Voting Securities by the Company which reduces the number of Company Voting
Securities outstanding; provided that if after such acquisition by the Company such person becomes the beneficial
owner of additional Company Voting Securities that increases the percentage of outstanding Company Voting Securities beneficially owned
by such person, a Change in Control will then occur.

 

2.1.8       
“Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor thereto,
and the applicable rulings and regulations thereunder.

 

2.1.9       
“Committee” has the meaning set forth in Section 2.2.1.

 

2.1.10   
“Common Stock” means the Class A common stock of the Company, par value $0.01 per share, and any other
securities or property issued in exchange therefor or in lieu thereof pursuant to Section 2.5.3.

 

2.1.11   
“Company” means Dynasty Financial Partners, Inc., a Delaware corporation, and any Subsidiary, and any
successor entity thereto.

 

2.1.12   
“Company Voting Securities” has the meaning provided in the definition of Change in Control.

 

2.1.13   
“Consent” has the meaning set forth in Section 4.3.2.

 

2.1.14   
“Consultant” means any individual (other than a non-employee Director), corporation, partnership, limited
liability company or other entity that provides bona fide consulting or advisory services to the Company.

 

2.1.15   
“Covered Person” has the meaning set forth in Section 2.2.4.

 

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2.1.16   
 “Director” means a member of the Board.

 

2.1.17   
“Effective Date” has the meaning set forth in Section 4.24.

 

2.1.18   
“Employee” means a regular, active employee and/or a prospective employee of the Company, but not including
a non-employee Director.

 

2.1.19   
“Employment” means a Grantee’s performance of services for the Company, as determined by the Committee.
The terms “employ” and “employed” will have their correlative meanings. The Committee in its sole discretion may
determine (a) whether and when a Grantee’s leave of absence results in a termination of Employment, (b) whether and when a change
in a Grantee’s association with the Company results in a termination of Employment and (c) the impact, if any, of any such leave
of absence or change in association on outstanding Awards. Unless expressly provided otherwise, any references in the Plan or any Award
Agreement to a Grantee’s Employment being terminated will include both voluntary and involuntary terminations.

 

2.1.20   
“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor
thereto, and the applicable rules and regulations thereunder.

 

2.1.21   
“Fair Market Value” means, with respect to a Share, the closing price reported for the Common Stock on
the applicable date as reported on the New York Stock Exchange or, if not so reported, as determined in accordance with a valuation methodology
approved by the Committee, unless determined as otherwise specified herein. For purposes of the grant of any Award, the applicable date
will be the trading day on which the Award is granted or, if the date the Award is granted is not a trading day, the trading day immediately
prior to the date the Award is granted. For purposes of the exercise of any Award, the applicable date is the date a notice of exercise
is received by the Company or, if such date is not a trading day, the trading day immediately following the date a notice of exercise
is received by the Company.

 

2.1.22   
“GF-Dynasty” has the meaning provided in the definition of Change in Control.

 

2.1.23   
“Good Reason” means (a) with respect to a Grantee employed pursuant to a written employment agreement
which agreement includes a definition of “Good Reason,” “Good Reason” as defined in that agreement or (b) with
respect to any other Grantee, the occurrence of any of the following in the absence of the Grantee’s written consent: (i) any material
and adverse change in the Grantee’s position or authority with the Company as in effect immediately before a Change in Control,
other than an isolated and insubstantial action not taken in bad faith and which is remedied by the Company within 30 days after receipt
of notice thereof given by the Grantee; or (ii) a diminution of the Grantee’s base salary in effect immediately before a Change
in Control by more than 10%, unless such diminution applies to all similarly situated employees. If the Grantee does not deliver to the
Company a written notice of termination within 60 days after the Grantee has knowledge that an event constituting Good Reason has occurred,
the event will no longer constitute Good Reason. In addition, the Grantee must give the Company 30 days to cure the event constituting
Good Reason.

 

2.1.24   
“Grantee” means an Employee, Director or Consultant who receives an Award.

 

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2.1.25   
 “Incentive Stock Option” means a stock option to purchase Shares that is intended to be an “incentive
stock option” within the meaning of Sections 421 and 422 of the Code, as now constituted or subsequently amended, or pursuant to
a successor provision of the Code, and which is designated as an Incentive Stock Option in the applicable Award Agreement.

 

2.1.26   
“Incumbent Directors” has the meaning provided in the definition of Change in Control.

 

2.1.27   
 “Non-Qualifying Transaction” has the meaning provided in the definition of Change in Control.

 

2.1.28   
“Operating Company” means Dynasty Financial Partners, LLC, a Delaware limited liability company and wholly-owned
Subsidiary of the Company, and any successor entity thereto.

 

2.1.29   
“Other Stock-Based or Cash-Based Awards” has the meaning set forth in Section 3.8.1.

 

2.1.30   
“Performance-Based Awards” means certain Other Stock-Based or Cash-Based Awards granted pursuant to Section
3.8.1.

 

2.1.31   
“Performance Goals” means the performance goals established by the Committee in connection with the grant
of Awards.

 

2.1.32   
“Plan” means this 2022 Omnibus Incentive Compensation Plan.

 

2.1.33   
“Plan Action” has the meaning set forth in Section 4.3.1.

 

2.1.34   
“Section 409A” means Section 409A of the Code, including any amendments or successor provisions to that
section, and any regulations and other administrative guidance thereunder, in each case as they may be from time to time amended or interpreted
through further administrative guidance.

 

2.1.35   
“Securities Act” means the Securities Act of 1933, as amended from time to time, or any successor thereto,
and the applicable rules and regulations thereunder.

 

2.1.36   
“Service Period” has the meaning set forth in Section 3.9.

 

2.1.37   
“Share Limit” has the meaning set forth in Section 2.5.1.

 

2.1.38   
“Shares” means shares of Common Stock.

 

2.1.39   
“Subsidiary” means any corporation, partnership, limited liability company or other legal entity in which
the Company, directly or indirectly, owns stock or other equity interests possessing 25% or more of the total combined voting power of
all classes of the then-outstanding stock or other equity interests.

 

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2.1.40   
 “Surviving Entity” has the meaning provided in the definition of Change in Control.

 

2.1.41   
“Ten Percent Stockholder” means a person owning stock possessing more than 10% of the total combined
voting power of all classes of stock of the Company and of any Subsidiary or parent corporation of the Company.

 

2.1.42   
“Treasury Regulations” means the regulations promulgated under the Code by the United States Treasury
Department, as amended.

 

2.2 
Administration

 

2.2.1       
The Compensation Committee of the Board (as constituted from time to time, and including any successor committee, the “Committee”)
will administer the Plan. In particular, the Committee will have the authority in its sole discretion to:

 

(a)       exercise
all of the powers granted to it under the Plan;

 

(b)       construe,
interpret and implement the Plan and all Award Agreements;

 

(c)       prescribe,
amend and rescind rules and regulations relating to the Plan, including rules governing the Committee’s own operations;

 

(d)       make
all determinations necessary or advisable in administering the Plan;

 

(e)       correct
any defect, supply any omission and reconcile any inconsistency in the Plan;

 

(f)       amend
the Plan to reflect changes in applicable law;

 

(g)       grant,
or recommend to the Board for approval to grant, Awards and determine who will receive Awards, when such Awards will be granted and the
terms of such Awards, including setting forth provisions with regard to the effect of a termination of Employment or service as a Director
on such Awards and conditioning the vesting of, or the lapsing of any applicable vesting restrictions or other vesting conditions on,
Awards upon the attainment of Performance Goals and/or upon continued service;

 

(h)       amend
any outstanding Award Agreement in any respect including, without limitation, to:

 

(1) accelerate the
time or times at which the Award becomes vested, unrestricted or may be exercised (and, in connection with such acceleration, the Committee
may provide that any Shares acquired pursuant to such Award will be restricted shares, which are subject to vesting, transfer, forfeiture
or repayment provisions similar to those in the Grantee’s underlying Award);

 

(2) accelerate
the time or times at which Shares are delivered under the Award (and, without limitation on the Committee’s rights, in
connection with such acceleration, the Committee may provide that any Shares delivered pursuant to such Award will be restricted
shares, which are subject to vesting, transfer, forfeiture or repayment provisions similar to those in the Grantee’s
underlying Award);

 

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(3) waive or amend
any goals, restrictions, vesting provisions or conditions set forth in such Award Agreement, or impose new goals, restrictions, vesting
provisions and conditions; or

 

(4) reflect a change
in the Grantee’s circumstances (e.g., a change to part-time employment status or a change in position, duties or responsibilities);
and

 

(i)       determine
at any time whether, to what extent and under what circumstances and method or methods;

 

(1) Awards may be:

 

(A) settled in cash,
Shares, other securities, other Awards or other property (in which event, the Committee may specify what other effects such settlement
will have on the Grantee’s Award, including the effect on any repayment provisions under the Plan or Award Agreement),

 

(B) exercised or

 

(C) canceled, forfeited
or suspended,

 

(2) Shares, other
securities, other Awards or other property and other amounts payable with respect to an Award may be deferred either automatically or
at the election of the Grantee thereof or of the Committee;

 

(3) to the extent
permitted under applicable law, loans (whether or not secured by Common Stock) may be extended by the Company with respect to any Awards;

 

(4) Awards may be
settled by the Company, any of its Subsidiaries or affiliates or any of their designees; and

 

(5) the exercise
price for any stock option (other than an Incentive Stock Option, unless the Committee determines that such a stock option will no longer
constitute an Incentive Stock Option) or stock appreciation right may be reset.

 

2.2.2        Actions
of the Committee may be taken by the vote of a majority of its members present at a meeting (which may be held telephonically). Any
action may be taken by a written instrument signed by a majority of the Committee members, and action so taken will be as fully
effective as if it had been taken by a vote at a meeting. The determination of the Committee on all matters relating to the Plan or
any Award Agreement will be final, binding and conclusive. The Committee may allocate among its members and delegate to any person
who is not a member of the Committee, or to any administrative group within the Company, any of its powers, responsibilities or
duties. In delegating its authority, the Committee will consider the extent to which any delegation may cause Awards to fail to meet
the requirements of Rule 16(b)-3(d)(1) or Rule 16(b)-3(e) under the Exchange Act. Except as specifically provided to the contrary,
references to the Committee include any administrative group, individual or individuals to whom the Committee has delegated its
duties and powers.

 

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2.2.3       
Notwithstanding anything to the contrary contained herein, the Board may, in its sole discretion, at any time and from time to
time, grant Awards or administer the Plan. In any such case, the Board will have all of the authority and responsibility granted to the
Committee herein.

 

2.2.4       
No member of the Committee or any person to whom the Committee delegates its powers, responsibilities or duties in writing, including
by resolution (each such person, a “Covered Person”), will have any liability to any person (including any Grantee)
for any action taken or omitted to be taken or any determination made with respect to the Plan or any Award, except as expressly provided
by statute. Each Covered Person will be indemnified and held harmless by the Company against and from:

 

(a)       any
loss, cost, liability or expense (including attorneys’ fees) that may be imposed upon or incurred by such Covered Person in connection
with or resulting from any action, suit or proceeding to which such Covered Person may be a party or in which such Covered Person may
be involved by reason of any action taken or omitted to be taken under the Plan or any Award Agreement, in each case, in good faith; and

 

(b)       any
and all amounts paid by such Covered Person, with the Company’s approval, in settlement thereof, or paid by such Covered Person
in satisfaction of any judgment in any such action, suit or proceeding against such Covered Person; provided that the Company will
have the right, at its own expense, to assume and defend any such action, suit or proceeding and, once the Company gives notice of its
intent to assume the defense, the Company will have sole control over such defense with counsel of the Company’s choice.

 

The foregoing right of indemnification
will not be available to a Covered Person to the extent that a court of competent jurisdiction in a final judgment or other final adjudication,
in either case, not subject to further appeal, determines that the acts or omissions of such Covered Person giving rise to the indemnification
claim resulted from such Covered Person’s bad faith, fraud or willful misconduct. The foregoing right of indemnification will not
be exclusive of any other rights of indemnification to which Covered Persons may be entitled under the Company’s articles of incorporation
or bylaws, pursuant to any individual indemnification agreements between such Covered Person and the Company, as a matter of law, or otherwise,
or any other power that the Company may have to indemnify such persons or hold them harmless.

 

2.3 
Persons Eligible for Awards

 

Awards under the Plan may be
made to Employees, Consultants and Directors, subject to the limitations set forth in the Plan. 

 

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2.4 
 Types of Awards Under Plan

 

Awards may be made under the
Plan in the form of cash-based or stock-based Awards. Stock-based Awards may be in the form of any of the following, in each case in respect
of Common Stock:

 

(a)       stock
options;

 

(b)       stock
appreciation rights;

 

(c)       restricted
shares;

 

(d)       restricted
stock units;

 

(e)       dividend
equivalent rights; and

 

(f)       other
equity-based or equity-related Awards (as further described in Section 3.8), that the Committee determines to be consistent with
the purposes of the Plan and the interests of the Company.

 

2.5 
Shares of Common Stock Available for Awards

 

2.5.1       
Common Stock Subject to the Plan. Subject to the other provisions of this Section 2.5, the total number
of Shares that may be granted under the Plan will be 12,000,000 (the “Share Limit”). Shares of Common Stock
subject to awards that are assumed, converted or substituted under the Plan as a result of the Company’s acquisition of another
company (including by way of merger, combination or similar transaction) will not count against the number of Shares that may be granted
under the Plan. Available shares under a stockholder approved plan of an acquired company (as appropriately adjusted to reflect the transaction)
may be used for Awards under the Plan and do not reduce the maximum number of Shares available for grant under the Plan, subject to applicable
stock exchange requirements. The Share Limit will be automatically increased on the first day of each year beginning in 2023 and ending
in 2032, in an amount equal to the lesser of (A) five percent of the Shares outstanding on the last day of the immediately preceding fiscal
year and (B) such smaller number of Shares as determined by the Committee.

 

2.5.2       
Replacement of Shares. Shares subject to an Award that is forfeited (including any restricted shares repurchased
by the Company at the same price paid by the Grantee so that such Shares are returned to the Company), expires or is settled for cash
(in whole or in part), to the extent of such forfeiture, expiration or cash settlement will be available for future grants of Awards under
the Plan and will be added back in the same number of Shares as were deducted in respect of the grant of such Award. The payment of dividend
equivalent rights in cash in conjunction with any outstanding Awards will not be counted against the Shares available for issuance under
the Plan. Shares tendered by a Grantee or withheld by the Company in payment of the exercise price of a stock option or to satisfy any
tax withholding obligation with respect to an Award will not again be available for Awards.

 

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2.5.3       
Adjustments. The Committee will:

 

(a)        adjust
the number of Shares authorized pursuant to Section 2.5.1;

 

(b)       adjust
the individual Grantee limitations set forth in Sections 3.3.1, 3.4.1 and 3.8.1;

 

(c)       adjust
the number of Shares set forth in Section 3.3.2 that can be issued through Incentive Stock Options; and

 

(d)       adjust
the terms of any outstanding Awards (including, without limitation, the number of Shares covered by each outstanding Award, the type of
property or securities to which the Award relates and the exercise or strike price of any Award);

 

in such manner as it deems
appropriate (including, without limitation, by payment of cash) to prevent the enlargement or dilution of rights, as a result of any
increase or decrease in the number of issued Shares (or issuance of shares of stock other than Shares) resulting from a recapitalization,
stock split, reverse stock split, stock dividend, spinoff, split up, combination, reclassification or exchange of Shares, merger, consolidation,
rights offering, separation, reorganization or liquidation or any other change in the corporate structure or Shares, including any extraordinary
dividend or extraordinary distribution; provided that no such adjustment may be made if or to the extent that it would
cause an outstanding Award to cease to be exempt from, or to fail to comply with, Section 409A of the Code.

 

ARTICLE
III

AWARDS UNDER THE PLAN

 

3.1 
Agreements Evidencing Awards

 

Each Award granted under the
Plan will be evidenced by an Award Agreement that will contain such provisions and conditions as the Committee deems appropriate. Unless
otherwise provided herein, the Committee may grant Awards in tandem with or in substitution for or satisfaction of any other Award or
Awards granted under the Plan or any award granted under any other plan of the Company. By accepting an Award pursuant to the Plan, a
Grantee thereby agrees that the Award will be subject to all of the terms and provisions of the Plan and the applicable Award Agreement.

 

3.2 
No Rights as a Stockholder

 

No Grantee (or other person
having rights pursuant to an Award) will have any of the rights of a stockholder of the Company with respect to Shares subject to an Award
until the delivery of such Shares. Except as otherwise provided in Section 2.5.3, no adjustments will be made for dividends, distributions
or other rights (whether ordinary or extraordinary, and whether in cash, Common Stock, other securities or other property) for which the
record date is before the date the Certificates for the Shares are delivered, or in the event the Committee elects to use another system,
such as book entries by the transfer agent, before the date in which such system evidences the Grantee’s ownership of such Shares.

 

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3.3 
 Options

 

3.3.1       
Grant. Stock options may be granted to eligible recipients in such number and at such times during the term of the
Plan as the Committee may determine.

 

3.3.2       
Incentive Stock Options. At the time of grant, the Committee will determine:

 

(a)       whether
all or any part of a stock option granted to an eligible Employee will be an Incentive Stock Option; and

 

(b)       the
number of Shares subject to such Incentive Stock Option; provided, however, that

 

(1)       the
aggregate Fair Market Value (determined as of the time the option is granted) of the stock with respect to which Incentive Stock Options
are exercisable for the first time by an eligible Employee during any fiscal year (under all such plans of the Company and of any Subsidiary
or parent corporation of the Company) may not exceed $100,000; and

 

(2)       no
Incentive Stock Option (other than an Incentive Stock Option that may be assumed or issued by the Company in connection with a transaction
to which Section 424(a) of the Code applies) may be granted to a person who is not eligible to receive an Incentive Stock Option under
the Code.

 

The form of any stock option
which is entirely or in part an Incentive Stock Option will clearly indicate that such stock option is an Incentive Stock Option or, if
applicable, the number of Shares subject to the Incentive Stock Option. No more than 12,000,000 Shares (as adjusted pursuant to the provisions
of Section 2.5.3) that can be delivered under the Plan may be issued through Incentive Stock Options.

 

3.3.3       
Exercise Price. The exercise price per share with respect to each stock option will be determined by the Committee
but, except as otherwise permitted by Section 2.5.3, may never be less than the Fair Market Value of a share of Common Stock (or,
in the case of an Incentive Stock Option granted to a Ten Percent Stockholder, 110% of the Fair Market Value). Unless otherwise noted
in the Award Agreement, the Fair Market Value of the Common Stock will be its Fair Market Value on the date of grant of the Award of stock
options.

 

3.3.4       
Term of Stock Option. In no event will any stock option be exercisable after the expiration of 10 years (or, in the
case of an Incentive Stock Option granted to a Ten Percent Stockholder, five years) from the date on which the stock option is granted.

 

3.3.5       
Vesting and Exercise of Stock Option and Payment for Shares. A stock option may vest and be exercised at such time
or times and subject to such terms and conditions as will be determined by the Committee at the time the stock option is granted and set
forth in the Award Agreement. Subject to any limitations in the applicable Award Agreement, any Shares not acquired pursuant to the exercise
of a stock option on the applicable vesting date may be acquired thereafter at any time before the final expiration of the stock option.

 

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To exercise a stock option,
the Grantee must give written notice to the Company specifying the number of Shares to be acquired and accompanied by payment of the full
purchase price therefor in cash or by certified or official bank check or in another form as determined by the Company, which may include:

 

(a)        personal
check;

 

(b)        Shares,
based on the Fair Market Value as of the exercise date;

 

(c)       any
other form of consideration approved by the Company and permitted by applicable law; and

 

(d)       any
combination of the foregoing.

 

The Committee may also make
arrangements for the cashless exercise of a stock option. Any person exercising a stock option will make such representations and agreements
and furnish such information as the Committee may, in its sole discretion, deem necessary or desirable to effect or assure compliance
by the Company on terms acceptable to the Company with the provisions of the Securities Act, the Exchange Act and any other applicable
legal requirements. The Committee may, in its sole discretion, also take whatever additional actions it deems appropriate to effect such
compliance, including, without limitation, placing legends on share certificates and issuing stop-transfer notices to agents and registrars.
If a Grantee so requests, Shares acquired pursuant to the exercise of a stock option may be issued in the name of the Grantee and another
jointly with the right of survivorship.

 

3.4 
Stock Appreciation Rights

 

3.4.1       
Grant. Stock appreciation rights may be granted to eligible recipients in such number and at such times during the
term of the Plan as the Committee may determine.

 

3.4.2       
Exercise Price. The exercise price per share with respect to each stock appreciation right will be determined by
the Committee but, except as otherwise permitted by Section 2.5.3, may never be less than the Fair Market Value of the Common Stock.
Unless otherwise noted in the Award Agreement, the Fair Market Value of the Common Stock will be its Fair Market Value on the date of
grant of the Award of stock appreciation rights.

 

3.4.3       
Term of Stock Appreciation Right. In no event will any stock appreciation right be exercisable after the expiration
of 10 years from the date on which the stock appreciation right is granted.

 

3.4.4       
Vesting and Exercise of Stock Appreciation Right and Delivery of Shares. Each stock appreciation right may vest and
be exercised in such installments as may be determined in the Award Agreement at the time the stock appreciation right is granted. Subject
to any limitations in the applicable Award Agreement, any stock appreciation rights not exercised on the applicable vesting date may be
exercised thereafter at any time before the final expiration of the stock appreciation right.

 

    -12- 

     

    

 

To exercise a stock appreciation
right, the Grantee must give written notice to the Company specifying the number of stock appreciation rights to be exercised. Upon exercise
of stock appreciation rights, Shares, cash or other securities or property, or a combination thereof, as specified by the Committee, equal
in value to:

 

(a)       the
excess of:

 

(1)        the
Fair Market Value of the Common Stock on the date of exercise over

 

(2)        the
exercise price of such stock appreciation right

 

multiplied by

 

(b)       the
number of stock appreciation rights exercised, will be delivered to the Grantee.

 

Any person exercising a stock
appreciation right will make such representations and agreements and furnish such information as the Committee may, in its sole discretion,
deem necessary or desirable to effect or assure compliance by the Company on terms acceptable to the Company with the provisions of the
Securities Act, the Exchange Act and any other applicable legal requirements. If a Grantee so requests, Shares purchased may be issued
in the name of the Grantee and another jointly with the right of survivorship.

 

3.5 
Restricted Shares

 

3.5.1       
Grants. The Committee may grant or offer for sale restricted shares in such amounts and subject to such terms and
conditions as the Committee may determine. Upon the delivery of such shares, the Grantee will have the rights of a stockholder with respect
to the restricted shares, subject to any other restrictions and conditions as the Committee may include in the applicable Award Agreement.
Each Grantee of an Award of restricted shares will be issued a Certificate in respect of such shares, unless the Committee elects to use
another system, such as book entries by the transfer agent, as evidencing ownership of such shares. In the event that a Certificate is
issued in respect of restricted shares, such Certificate may be registered in the name of the Grantee, and will, in addition to such legends
required by applicable securities laws, bear an appropriate legend referring to the terms, conditions, and restrictions applicable to
such Award, but will be held by the Company or its designated agent until the time the restrictions lapse.

 

3.5.2       
Right to Vote and Receive Dividends on Restricted Shares. Each Grantee of an Award of restricted shares will, during
the period of restriction, be the beneficial and record owner of such restricted shares and will have full voting rights with respect
thereto. The right to receive dividends, if any, during the period of restriction applicable to such Award of restricted shares will be
as set forth in the Award Agreement as determined by the Committee.

 

3.6 
Restricted Stock Units

 

The Committee may grant
Awards of restricted stock units in such amounts and subject to such terms and conditions as the Committee may determine. A Grantee
of a restricted stock unit will have only the rights of a general unsecured creditor of the Company, until delivery of Shares, cash
or other securities or property is made as specified in the applicable Award Agreement. On the delivery date specified in the Award
Agreement, the Grantee of each restricted stock unit not previously forfeited or terminated will receive one share of Common Stock,
cash or other securities or property equal in value to a share of Common Stock or a combination thereof, as specified by the
Committee.

 

    -13- 

     

    

 

3.7 
Dividend Equivalent Rights

 

The Committee may include in
the Award Agreement with respect to any Award a dividend equivalent right entitling the Grantee to receive amounts equal to all or any
portion of the regular cash dividends that would be paid on the Shares covered by such Award if such Shares had been delivered pursuant
to such Award. The grantee of a dividend equivalent right will have only the rights of a general unsecured creditor of the Company until
payment of such amounts is made as specified in the applicable Award Agreement. In the event such a provision is included in an Award
Agreement, the Committee will determine whether such payments will be made in cash, in Shares or in another form, whether they will be
conditioned upon the exercise of the Award to which they relate (subject to compliance with Section 409A of the Code), the time or times
at which they will be made, and such other terms and conditions as the Committee shall deem appropriate.

 

3.8 
Other Stock-Based or Cash-Based Awards

 

3.8.1       
Grant. The Committee may grant other types of equity-based, equity-related or cash-based Awards (including the grant
or offer for sale of unrestricted Shares, performance share awards, performance units settled in cash) (“Other Stock-Based
or Cash-Based Awards”) in such amounts and subject to such terms and conditions as the Committee may determine. The terms
and conditions set forth by the Committee in the applicable Award Agreement may relate to the achievement of Performance Goals, as determined
by the Committee at the time of grant. Such Awards may entail the transfer of actual Shares to Award recipients and may include Awards
designed to comply with or take advantage of the applicable local laws of jurisdictions other than the United States.

 

3.9 
Repayment if Conditions Not Met

 

The Company may, in its sole
discretion, require a Grantee to deliver or otherwise repay to the Company any Award and any Shares or other amount or property that may
be issued, delivered or paid in respect of such Award, as well as any consideration that may be received in respect of a sale or other
disposition of any such Shares or property, if:

 

(a)       the
Committee determines, in its sole discretion, that the Grantee failed to satisfy all terms and conditions of the Plan and such Grantee’s
Award Agreement (including, but not limited to, the restrictive covenants therein), and that the failure to satisfy such terms and conditions
is material; or

 

    -14- 

     

    

 

(b)        the
Company determines, in its sole discretion, that one or more of the following has occurred:

 

(1)        during
the period of the Grantee’s Employment or service with the Company (the “Service Period”), the Grantee
has committed a felony (under the laws of the United States or any relevant state, or a similar crime or offense under the applicable
laws of any relevant foreign jurisdiction);

 

(2)       during
the Service Period, the Grantee has committed or engaged in an act of theft, embezzlement or fraud;

 

(3)       during
the Service Period or at any time thereafter, the Grantee has materially breached any agreement to which the Grantee is a party with the
Company; or

 

(4)       during
the Service Period, Grantee’s engagement in gross misconduct that causes financial or reputational harm to the Company.

 

ARTICLE
IV

MISCELLANEOUS

 

4.1 
Amendment of the Plan

 

4.1.1       
Unless otherwise provided in the Plan or in an Award Agreement, the Board may at any time and from time to time suspend, discontinue,
revise or amend the Plan in any respect whatsoever but, subject to Sections 2.2, 2.5.3 and 4.7, no such amendment
may materially adversely impair the rights of the Grantee of any Award without the Grantee’s consent. Subject to Sections 2.2,
2.5.3 and 4.7, an Award Agreement may not be amended to materially adversely impair the rights of a Grantee without the
Grantee’s consent.

 

4.1.2       
Unless otherwise determined by the Board, stockholder approval of any suspension, discontinuance, revision or amendment will be
obtained only to the extent necessary to comply with any applicable laws, regulations or rules of a securities exchange or self-regulatory
agency.

 

4.2 
Tax Withholding

 

Grantees will be solely responsible
for any applicable taxes (including, without limitation, income and excise taxes) and penalties, and any interest that accrues thereon,
that they incur in connection with the receipt, vesting or exercise of any Award. As a condition to the delivery of any Shares, cash or
other securities or property pursuant to any Award or the lifting or lapse of restrictions on any Award, or in connection with any other
event that gives rise to a federal or other governmental tax withholding obligation on the part of the Company relating to an Award (including,
without limitation, the Federal Insurance Contributions Act (FICA) tax):

 

(a)       the
Company may deduct or withhold (or cause to be deducted or withheld) from any payment or distribution to a Grantee whether or not pursuant
to the Plan (including Shares otherwise deliverable);

 

(b)       the
Committee will be entitled to require that the Grantee remit cash to the Company (through payroll deduction or otherwise); or

 

    -15- 

     

    

 

(c)        the
Company may enter into any other suitable arrangements to withhold, in each case in the Company’s discretion, the amounts of such
taxes to be withheld based on the individual tax rates applicable to the Grantee.

 

4.3 
Required Consents and Legends

 

4.3.1       
If the Committee at any time determines that any Consent (as hereinafter defined) is necessary or desirable as a condition of,
or in connection with, the granting of any Award, the delivery of Shares or the delivery of any cash, securities or other property under
the Plan, or the taking of any other action thereunder (each such action, a “Plan Action”), then, subject to
Section 4.14, such Plan Action will not be taken, in whole or in part, unless and until such Consent will have been effected or
obtained to the full satisfaction of the Committee. The Committee may direct that any Certificate evidencing Shares delivered pursuant
to the Plan will bear a legend setting forth such restrictions on transferability as the Committee may determine to be necessary or desirable,
and may advise the transfer agent to place a stop transfer order against any legended shares.

 

4.3.2       
The term “Consent” as used in this ARTICLE IV with respect to any Plan Action includes:

 

(a)       any
and all listings, registrations or qualifications in respect thereof upon any securities exchange or under any federal, state, or local
law, or law, rule or regulation of a jurisdiction outside the United States;

 

(b)       any
and all written agreements and representations by the Grantee with respect to the disposition of Shares, or with respect to any other
matter, which the Committee may deem necessary or desirable to comply with the terms of any such listing, registration or qualification
or to obtain an exemption from the requirement that any such listing, qualification or registration be made;

 

(c)       any
and all other consents, clearances and approvals in respect of a Plan Action by any governmental or other regulatory body or any stock
exchange or self-regulatory agency,

 

(d)       any
and all consents by the Grantee to:

 

(1)       the
Company’s supplying to any third-party recordkeeper of the Plan such personal information as the Committee deems advisable to administer
the Plan;

 

(2)       the
Company’s deducting amounts from the Grantee’s wages, or another arrangement satisfactory to the Committee, to reimburse the
Company for advances made on the Grantee’s behalf to satisfy certain withholding and other tax obligations in connection with an
Award; and

 

(3)       the
Company’s imposing sales and transfer procedures and restrictions and hedging restrictions on Shares delivered under the Plan; and

 

    -16- 

     

    

 

(e)        any
and all consents or authorizations required to comply with, or required to be obtained under, applicable local law or otherwise required
by the Committee. Nothing herein will require the Company to list, register or qualify the Shares on any securities exchange.

 

4.4 
Right of Offset

 

The Company will have the right
to offset against its obligation to deliver Shares (or other property or cash) under the Plan or any Award Agreement any outstanding amounts
(including, without limitation, travel and entertainment or advance account balances, loans, repayment obligations under any Awards, or
amounts repayable to the Company pursuant to tax equalization, housing, automobile or other employee programs) that the Grantee then owes
to the Company and any amounts the Committee otherwise deems appropriate pursuant to any tax equalization policy or agreement. Notwithstanding
the foregoing, if an Award provides for the deferral of compensation within the meaning of Section 409A of the Code, the Committee will
have no right to offset against its obligation to deliver Shares (or other property or cash) under the Plan or any Award Agreement if
such offset could subject the Grantee to the additional tax imposed under Section 409A of the Code in respect of an outstanding Award.

 

4.5 
Nonassignability; No Hedging

 

Unless otherwise provided in
an Award Agreement, no Award (or any rights and obligations thereunder) granted to any person under the Plan may be sold, exchanged, transferred,
assigned, pledged, hypothecated or otherwise disposed of or hedged, in any manner (including through the use of any cash-settled instrument),
whether voluntarily or involuntarily and whether by operation of law or otherwise, other than by will or by the laws of descent and distribution,
and all such Awards (and any rights thereunder) will be exercisable during the life of the Grantee only by the Grantee or the Grantee’s
legal representative. Notwithstanding the foregoing, the Committee may permit, under such terms and conditions that it deems appropriate
in its sole discretion, a Grantee to transfer any Award to any person or entity that the Committee so determines. Any sale, exchange,
transfer, assignment, pledge, hypothecation or other disposition in violation of the provisions of this Section 4.5 will be null
and void and any Award which is hedged in any manner will immediately be forfeited. All of the terms and conditions of the Plan and the
Award Agreements will be binding upon any permitted successors and assigns.

 

4.6 
Change in Control

 

4.6.1        Unless
the Committee determines otherwise or as otherwise provided in the applicable Award Agreement, if a Grantee’s Employment is
terminated by the Company or any successor entity thereto without Cause, or the Grantee resigns his or her Employment for Good
Reason, in either case, on or within two (2) years after a Change in Control, (i) each Award granted to such Grantee prior to such
Change in Control will become fully vested (including the lapsing of all restrictions and conditions) and, as applicable,
exercisable, and (ii) any Shares deliverable pursuant to restricted stock units will be delivered promptly (but no later than 30
days) following such Grantee’s termination of Employment. As of the Change in Control date, any outstanding Performance-Based
Awards shall be deemed earned at the greater of the target level and the actual performance level at the date of the Change in
Control with respect to all open performance periods and will cease to be subject to any further performance conditions but will
continue to be subject to time-based vesting following the Change in Control in accordance with the original performance period.

 

    -17- 

     

    

 

4.6.2       
Notwithstanding the foregoing, in the event of a Change in Control, a Grantee’s Award will be treated, to the extent determined
by the Committee to be permitted under Section 409A, in accordance with one or more of the following methods as determined by the Committee
in its sole discretion: (i) settle such Awards for an amount of cash or securities equal to their value, where in the case of stock options
and stock appreciation rights, the value of such awards, if any, will be equal to their in-the-money spread value (if any), as determined
in the sole discretion of the Committee; (ii) provide for the assumption of or the issuance of substitute awards that will substantially
preserve the otherwise applicable terms of any affected Awards previously granted under the Plan, as determined by the Committee in its
sole discretion; (iii) modify the terms of such awards to add events, conditions or circumstances (including termination of Employment
or service as a Director within a specified period after a Change in Control) upon which the vesting of such Awards or lapse of restrictions
thereon will accelerate; or (iv) provide that for a period of at least 20 days prior to the Change in Control, any stock options or stock
appreciation rights that would not otherwise become exercisable prior to the Change in Control will be exercisable as to all Shares subject
thereto (but any such exercise will be contingent upon and subject to the occurrence of the Change in Control and if the Change in Control
does not take place within a specified period after giving such notice for any reason whatsoever, the exercise will be null and void)
and that any stock options or stock appreciation rights not exercised prior to the consummation of the Change in Control will terminate
and be of no further force and effect as of the consummation of the Change in Control. In the event that the consideration paid in the
Change in Control includes contingent value rights, earnout or indemnity payments or similar payments, then the Committee will determine
if Awards settled under clause (i) above are (a) valued at closing taking into account such contingent consideration (with the value determined
by the Committee in its sole discretion) or (b) entitled to a share of such contingent consideration. For the avoidance of doubt, in the
event of a Change in Control where all stock options and stock appreciation rights are settled for an amount (as determined in the sole
discretion of the Committee) of cash or securities, the Committee may, in its sole discretion, terminate any stock option or stock appreciation
right for which the exercise price is equal to or exceeds the per share value of the consideration to be paid in the Change in Control
transaction without payment of consideration therefor. Similar actions to those specified in this Section 4.6.2 may be taken in
the event of a merger or other corporate reorganization that does not constitute a Change in Control.

 

4.7 
No Continued Employment or Engagement; Right of Discharge Reserved

 

Neither the adoption of the
Plan nor the grant of any Award (or any provision in the Plan or Award Agreement) will (1) confer upon any Grantee any right to continued
Employment, service as a Director, or other engagement, with the Company, (2) interfere in any way with the right of the Company to terminate,
or alter the terms and conditions of, such Employment, service as a Director, or other engagement at any time or (3) create any obligation
on behalf of the Board to nominate any non-employee Director for re-election to the Board by the Company’s stockholders.

 

    -18- 

     

    

 

4.8 
 Nature of Payments

 

4.8.1       
Any and all grants of Awards and deliveries of Common Stock, cash, securities or other property under the Plan will be in consideration
of services performed or to be performed for the Company by the Grantee. Awards under the Plan may, in the discretion of the Committee,
be made in substitution in whole or in part for cash or other compensation otherwise payable to a Grantee. Only whole Shares will be delivered
under the Plan. Awards will, to the extent reasonably practicable, be aggregated in order to eliminate any fractional shares. Fractional
shares may, in the discretion of the Committee, be forfeited or be settled in cash or otherwise as the Committee may determine.

 

4.8.2       
All such grants and deliveries of Shares, cash, securities or other property under the Plan will constitute a special discretionary
incentive payment to the Grantee, will not entitle the Grantee to the grant of any future Awards and will not be required to be taken
into account in computing the amount of salary or compensation of the Grantee for the purpose of determining any contributions to or any
benefits under any pension, retirement, profit-sharing, bonus, life insurance, severance or other benefit plan of the Company or under
any agreement with the Grantee, unless the Company specifically provides otherwise.

 

4.9 
Non-Uniform Determinations

 

4.9.1       
The Committee’s determinations under the Plan and Award Agreements need not be uniform and any such determinations may be
made by it selectively among persons who receive, or are eligible to receive, Awards under the Plan (whether or not such persons are similarly
situated). Without limiting the generality of the foregoing, the Committee will be entitled, among other things, to make non-uniform and
selective determinations under Award Agreements, and to enter into non-uniform and selective Award Agreements, as to (a) the persons to
receive Awards, (b) the terms and provisions of Awards and (c) whether a Grantee’s Employment or service as a Director has been
terminated for purposes of the Plan.

 

4.9.2       
To the extent the Committee deems it necessary, appropriate or desirable to comply with foreign law or practices and to further
the purposes of the Plan, the Committee may, in its sole discretion and without amending the Plan, (a) establish special rules applicable
to Awards to Grantees who are foreign nationals, are employed outside the United States or both and grant Awards (or amend existing Awards)
in accordance with those rules and (b) cause the Company to enter into an agreement with any local Subsidiary pursuant to which such Subsidiary
will reimburse the Company for the cost of such equity incentives.

 

4.10         
Other Payments or Awards

 

Nothing contained in the Plan
will be deemed in any way to limit or restrict the Company from making any award or payment to any person under any other plan, arrangement
or understanding, whether now existing or hereafter in effect.

 

4.11         
Plan Headings

 

The headings in the Plan are
for the purpose of convenience only and are not intended to define or limit the construction of the provisions hereof.

 

    -19- 

     

    

 

4.12         
 Termination of Plan

 

The Board reserves the right
to terminate the Plan at any time; provided, however, that in any case, the Plan will terminate on the day before the tenth
anniversary of the Effective Date, and provided, further, that all Awards made under the Plan before its termination will
remain in effect until such Awards have been satisfied or terminated in accordance with the terms and provisions of the Plan and the applicable
Award Agreements.

 

4.13         
Clawback/Recapture Policy

 

In addition to the repayment
provisions in Section 3.9, Awards under the Plan will be subject to any clawback or recapture policy that the Company may adopt
from time to time to the extent provided in such policy and, in accordance with such policy, may be subject to the requirement that the
Awards be repaid to the Company after they have been distributed to the Grantee.

 

4.14         
Section 409A

 

4.14.1   
All Awards made under the Plan that are intended to be “deferred compensation” subject to Section 409A will be interpreted,
administered and construed to comply with Section 409A, and all Awards made under the Plan that are intended to be exempt from Section
409A will be interpreted, administered and construed to comply with and preserve such exemption. The Board and the Committee will have
full authority to give effect to the intent of the foregoing sentence. To the extent necessary to give effect to this intent, in the case
of any conflict or potential inconsistency between the Plan and a provision of any Award or Award Agreement with respect to an Award,
the Plan will govern.

 

4.14.2   
Without limiting the generality of Section 4.14.1, with respect to any Award made under the Plan that is intended to be
 “deferred compensation” subject to Section 409A:

 

(a)       any
payment due upon a Grantee’s termination of Employment or service as a Director will be paid only upon such Grantee’s separation
from service from the Company within the meaning of Section 409A;

 

(b)        Any
payment due upon a Change in Control of the Company will be paid only if such Change in Control constitutes a “change in ownership”
or “change in effective control” within the meaning of Section 409A, and in the event that such Change in Control does not
constitute a “change in the ownership” or “change in the effective control” within the meaning of Section 409A,
such Award will vest upon the Change in Control and any payment will be delayed until the first compliant date under Section 409A;

 

(c)       any
payment to be made with respect to such Award in connection with the Grantee’s separation from service from the Company within the
meaning of Section 409A (and any other payment that would be subject to the limitations in Section 409A(a)(2)(B) of the Code) will be
delayed until six months after the Grantee’s separation from service (or earlier death) in accordance with the requirements of Section
409A;

 

    -20- 

     

    

 

(d)        to
the extent necessary to comply with Section 409A, any other securities, other Awards or other property that the Company may deliver in
lieu of Shares in respect of an Award will not have the effect of deferring delivery or payment beyond the date on which such delivery
or payment would occur with respect to the Shares that would otherwise have been deliverable (unless the Committee elects a later date
for this purpose in accordance with the requirements of Section 409A);

 

(e)       with
respect to any required Consent described in Section 4.3 or the applicable Award Agreement, if such Consent has not been effected
or obtained as of the latest date provided by such Award Agreement for payment in respect of such Award and further delay of payment is
not permitted in accordance with the requirements of Section 409A, such Award or portion thereof, as applicable, will be forfeited and
terminate notwithstanding any prior earning or vesting;

 

(f)       if
the Award includes a “series of installment payments” (within the meaning of Section 1.409A-2(b)(2)(iii) of the Treasury Regulations),
the Grantee’s right to the series of installment payments will be treated as a right to a series of separate payments and not as
a right to a single payment;

 

(g)        if
the Award includes “dividend equivalents” (within the meaning of Section 1.409A-3(e) of the Treasury Regulations), the Grantee’s
right to the dividend equivalents will be treated separately from the right to other amounts under the Award; and

 

(h)        for
purposes of determining whether the Grantee has experienced a separation from service from the Company within the meaning of Section 409A,
 “subsidiary” will mean a corporation or other entity in a chain of corporations or other entities in which each corporation
or other entity, starting with the Company, has a controlling interest in another corporation or other entity in the chain, ending with
such corporation or other entity. For purposes of the preceding sentence, the term “controlling interest” has the same meaning
as provided in Section 1.414(c)-2(b)(2)(i) of the Treasury Regulations; provided that the language “at least 20 percent”
is used instead of “at least 80 percent” each place it appears in Section 1.414(c)-2(b)(2)(i) of the Treasury Regulations.

 

4.15         
Governing Law

 

THE PLAN AND ALL AWARDS MADE
AND ACTIONS TAKEN THEREUNDER WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE
TO PRINCIPLES OF CONFLICT OF LAWS.

 

4.16         
Disputes; Choice of Forum

 

4.16.1    The
Company and each Grantee, as a condition to such Grantee’s participation in the Plan, hereby irrevocably submit to the
exclusive jurisdiction of any state or federal court located in New Castle County, State of Delaware, over any suit, action or
proceeding arising out of or relating to or concerning the Plan or, to the extent not otherwise specified in any individual
agreement between the Company and the Grantee, any aspect of the Grantee’s Employment or service as a Director with the
Company or the termination of such Employment or service as a Director. The Company and each Grantee, as a condition to such
Grantee’s participation in the Plan, acknowledge that the forum designated by this Section 4.16.1 has a reasonable
relation to the Plan and to the relationship between such Grantee and the Company. Notwithstanding the foregoing, nothing herein
will preclude the Company from bringing any action or proceeding in any other court for the purpose of enforcing the provisions of
this Section 4.16.1.

 

    -21- 

     

    

 

4.16.2   
The agreement by the Company and each Grantee as to forum is independent of the law that may be applied in the action, and the
Company and each Grantee, as a condition to such Grantee’s participation in the Plan, (i) agree to such forum even if the forum
may under applicable law choose to apply non-forum law, (ii) hereby waive, to the fullest extent permitted by applicable law, any objection
which the Company or such Grantee now or hereafter may have to personal jurisdiction or to the laying of venue of any such suit, action
or proceeding in any court referred to in Section 4.16.1, (iii) undertake not to commence any action arising out of or relating
to or concerning the Plan in any forum other than the forum described in this Section 4.16, and (iv) agree that, to the fullest
extent permitted by applicable law, a final and non-appealable judgment in any such suit, action or proceeding in any such court will
be conclusive and binding upon the Company and each Grantee.

 

4.16.3   
Each Grantee, as a condition to such Grantee’s participation in the Plan, hereby irrevocably appoints the General Counsel
of the Company as such Grantee’s agent for service of process in connection with any action, suit or proceeding arising out of or
relating to or concerning the Plan, who will promptly advise such Grantee of any such service of process.

 

4.16.4   
Each Grantee, as a condition to such Grantee’s participation in the Plan, agrees to keep confidential the existence of, and
any information concerning, a dispute, controversy or claim described in Section 4.18, except that a Grantee may disclose information
concerning such dispute, controversy or claim to the court that is considering such dispute, controversy or claim or to such Grantee’s
legal counsel (provided that such counsel agrees not to disclose any such information other than as necessary to the prosecution
or defense of the dispute, controversy or claim).

 

4.17         
Waiver of Jury Trial

 

EACH GRANTEE WAIVES ANY RIGHT
IT MAY HAVE TO TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED ON, ARISING OUT OF, UNDER OR IN CONNECTION WITH THE PLAN.

 

4.18         
Waiver of Claims

 

Each Grantee of an Award
recognizes and agrees that before being selected by the Committee to receive an Award the Grantee has no right to any benefits under
the Plan. Accordingly, in consideration of the Grantee’s receipt of any Award hereunder, the Grantee expressly waives any
right to contest the amount of any Award, the terms of any Award Agreement, any determination, action or omission hereunder or under
any Award Agreement by the Committee, the Company or the Board, or any amendment to the Plan or any Award Agreement (other than an
amendment to the Plan or an Award Agreement to which his or her consent is expressly required by the express terms of an Award
Agreement). Nothing contained in the Plan, and no action taken pursuant to its provisions, will create or be construed to create a
trust of any kind or a fiduciary relationship between the Company and any Grantee. The Plan is not intended to be subject to the
Employee Retirement Income Security Act of 1974 (ERISA), as amended.

 

    -22- 

     

    

 

4.19         
No Repricing or Reloads

 

Except
as otherwise permitted by Section 2.5.3, reducing the exercise price of stock options or stock appreciation rights issued and outstanding
under the Plan, including through amendment, cancellation in exchange for the grant of a substitute Award or repurchase for cash or other
consideration (in each case that has the effect of reducing the exercise price), will require approval of the Company’s stockholders.
The Company will not grant any stock options or stock appreciation rights with automatic reload features.

 

4.20         
Severability; Entire Agreement

 

If any of the provisions of
the Plan or any Award Agreement is finally held to be invalid, illegal or unenforceable (whether in whole or in part), such provision
will be deemed modified to the extent, but only to the extent, of such invalidity, illegality or unenforceability and the remaining provisions
will not be affected thereby; provided that, if any of such provisions is finally held to be invalid, illegal, or unenforceable
because it exceeds the maximum scope determined to be acceptable to permit such provision to be enforceable, such provision will be deemed
to be modified to the minimum extent necessary to modify such scope in order to make such provision enforceable hereunder. The Plan and
any Award Agreements contain the entire agreement of the parties with respect to the subject matter thereof and supersede all prior agreements,
promises, covenants, arrangements, communications, representations and warranties between them, whether written or oral with respect to
the subject matter thereof.

 

4.21         
No Liability with Respect to Tax Qualification or Adverse Tax Treatment

 

Notwithstanding anything to
the contrary contained herein, in no event will the Company be liable to a Grantee on account of an Award’s failure to (a) qualify
for favorable United States or foreign tax treatment or (b) avoid adverse tax treatment under United States or foreign law, including,
without limitation, Section 409A.

 

4.22         
No Third-Party Beneficiaries

 

Except as expressly provided
in an Award Agreement, neither the Plan nor any Award Agreement will confer on any person other than the Company and the Grantee of any
Award any rights or remedies thereunder. The exculpation and indemnification provisions of Section 2.2.4 will inure to the benefit
of a Covered Person’s estate and beneficiaries and legatees.

 

4.23         
Successors and Assigns of the Company

 

The terms of the Plan will be
binding upon and inure to the benefit of the Company and any successor entity, including as contemplated by Section 4.6.

 

    -23- 

     

    

 

4.24         
 Date of Adoption and Approval of Stockholders

 

The Plan was adopted by the
Board on [●] and was approved by the Company’s stockholders on [●] (the “Effective
Date”).

 

4.25         
Limits on Compensation to Non-Employee Directors

 

No
non-employee Director may be granted (in any calendar year) compensation with a value in excess of $200,000, with the value of any equity-based
awards based on the accounting grant date value of such award.

 

    -24-Exhibit 10.9

 

DYNASTY FINANCIAL PARTNERS, INC. 

2022 OMNIBUS INCENTIVE COMPENSATION PLAN 

 

INCENTIVE STOCK OPTION AWARD AGREEMENT

 

This Incentive Stock Option Award Agreement (this
 “Award Agreement”) evidences an award of incentive stock options (“Options”) by Dynasty
Financial Partners, Inc., a Delaware corporation (“Dynasty” and together with any Subsidiary, and any successor
entity thereto, the “Company”) under the Dynasty Financial Partners, Inc. 2022 Omnibus Incentive Compensation
Plan (the “Plan”). Capitalized terms not defined in this Award Agreement have the meanings given to them in
the Plan.

 

	Name of Grantee:	______________ (the
    “Grantee”).
	 
	Grant Date:	______________ (the
    “Grant Date”).
	 
	Number of Options:	 ______________.

 

	 	Each Option represents the right to purchase one Share at the Exercise Price set forth below on the terms and conditions set forth herein.
	 	 
	Exercise Price:	The Exercise Price
    will be $[●] (the “Exercise Price”).
	 	 
	Vesting Dates:	A number of Options equal to [insert fraction]
    of the Options (rounded to the nearest whole number) shall vest on [    ] (each, a “Vesting Date”).
	 	 
	 	The Options will vest only if the Grantee is, and has been, continuously employed by the Company from the Grant Date through the applicable Vesting Date, and any unvested Options will be forfeited upon any termination of Employment for any reason, subject to the Board’s discretion.
	 	 
	 	Notwithstanding the foregoing, and any provision in the Plan:

 

		A.	Upon a termination of Employment due to the Grantee’s death or Disability, unvested Options will
immediately vest as of the date of such termination; and

 

		B.	Upon a termination of the Grantee’s Employment by the Company without Cause or resignation by the
Grantee for Good Reason on or within two years following a Change in Control, any outstanding, unvested Options will immediately vest
as of the date of such termination (a “CIC Qualifying Termination”).

 

     

     

    

 

For purposes of this Award Agreement,
if, as a result of the Grantee’s incapacity due to physical or mental illness, Grantee will have been substantially unable to perform
his duties hereunder for a continuous period of 180 days, the Company may terminate Grantee’s employment hereunder for “Disability.”

 

	Term:	The latest date the Option will expire is on the [ ] anniversary of the Grant Date (the “Expiration
Date”); provided, however, if the Grantee is a Ten Percent Stockholder, the Option will expire on the fifth anniversary
of the Grant Date. However, in the event the Grantee’s Employment terminates prior to the Expiration Date, vested Options shall
remain exercisable for the period as set forth below, unless the Committee determines otherwise:

 

		A.	Upon a termination of Employment for any reason other than for Cause, Disability or death, the Grantee
may exercise the Options until the date that is 90 days following the later of the date of the termination of Employment or the date the
Options vest in accordance with the terms of this Award Agreement, but in no event later than the Expiration Date.

 

		B.	Upon a termination of Employment for Cause, the Options shall expire and immediately cease to be exercisable
upon the date of the termination of Employment.

 

		C.	Upon a termination of Employment due to death or Disability, the Options shall expire one year after the
date of the termination of Employment, but in no event later than the Expiration Date.

 
	Exercise of Option:	Each
    election to exercise the Option shall be made, in the manner prescribed by the Company, with the third party stock plan administrator
    appointed by the Company, by the Grantee or the Grantee’s executor, administrator, or legally appointed representative (in
    the event of the Grantee’s incapacity) or the person or persons to whom the Option is transferred by will or the applicable
    laws of descent and distribution (collectively, the “Option Holder”)
    and received and approved by the Company and third party stock plan administrator, accompanied by this Award Agreement and payment
    in full as provided in the Plan. The purchase price shall be paid to the third party stock plan administrator appointed by the Company
    by either (i) delivery of cash or check; (ii) wire transfer; or (iii) through a broker-assisted cashless exercise program implemented
    in connection with the Plan. In the event that the Option is exercised by an Option Holder other than the Grantee, the Company will
    be under no obligation to deliver Shares hereunder unless and until it is satisfied as to the authority of the Option Holder to exercise
    the Option.

 

    -2- 

     

    

 
	 	As soon as reasonably practicable following the Company’s determination that the Option has been validly exercised, the Company will issue the relevant number of Shares to be allocated to the Grantee, subject to applicable tax withholding as provided in Section 4.2 of the Plan.

 

	Status of the Option:	Each Option granted pursuant to this Award
Agreement is intended to qualify as an “incentive stock option” under Section 422 of the Code, but the Company does not represent
or warrant that the Options qualify as such. The Grantee should consult with his or her own tax advisors regarding the tax effects of
the Options and the requirements necessary to obtain favorable income tax treatment under Section 422 of the Code, including, but not
limited to, holding period requirements.

 

In order to obtain the benefits of an
incentive stock option under Section 422 of the Code, the Grantee understands that this Option must be exercised within three months after
termination of employment or within twelve months after termination of employment if such termination is due to death or Disability;
provided, however, that in no event may this Option be exercised after the Expiration Date. If the Grantee intends to dispose
or does dispose (whether by sale, gift, transfer or otherwise) of any Shares within the one-year period beginning on the date after the
transfer of such Shares to him or her, or within the two-year period beginning on the day after the grant of the Options, he or she will
notify the Company within 30 days after such disposition.

 

To the extent that the Options (together
with all stock options granted to the Grantee under all equity plans of the Company, including the Plan) becomes exercisable for the first
time during any calendar year for Shares having a fair market value greater than $100,000, the portion of such Options that exceeds such
amount will be treated as non-qualified stock options. For purposes of this paragraph, stock options designated as “incentive stock
options” are taken into account in the order in which they were granted, and the fair market value is determined as of the time
of grant.

 

If at any time any Option does not meet
the requirements of an incentive stock option pursuant to Section 422 of the Code, such Option shall be redesignated as a non-qualified
stock option automatically on the date of such failure to meet such requirements without further action by the Committee.

 

    -3- 

     

    

 

If the Code is amended to provide for
a different limitation from that set forth in this Paragraph, such different limitation will be deemed incorporated herein effective as
of the date required or permitted by such amendment to the Code.

 

	Tax Representations;

Withholding:	The Grantee is advised to review with his/her own tax advisors the federal, state and local tax consequences
of receiving and exercising the Options. The Grantee hereby represents to the Company that he/she is relying solely on such advisors and
not on any statements or representations of the Company, its affiliates or any of their respective agents. If, in connection with the
exercise of the Options, the Company is required to withhold any amounts by reason of any federal, state or local tax, such withholding
shall be effected in accordance with Section 4.2 of the Plan.

 

	Transfer Restrictions:	The Grantee
may not sell, exchange, transfer, assign, pledge, hypothecate or otherwise encumber the Options or the Grantee’s right under the
Options to receive Shares, other than to the extent provided in Section 4.5 of the Plan.

 

		Clawback:	Section 3.9 of the Plan is incorporated herein by reference and will apply to the Options granted pursuant
to this Award Agreement.

 

		Non-Competition:	During the Grantee’s Employment and for a period of 12 months following the termination of the Grantee’s
Employment for any reason, the Grantee will not directly or indirectly (without the prior written consent of the Company):

 

		(i)	hold a 5% or greater equity (including stock options whether
or not exercisable), voting or profit participation interest in a Competitive Enterprise; or

 

		(ii)	associate (including as a director, officer, employee, partner,
consultant, agent or advisor) with a Competitive Enterprise and in connection with the Grantee’s association engage, or directly
or indirectly manage or supervise personnel engaged, in any activity:

 

		(A)	that is substantially related to any activity in which the Grantee was engaged with the Company during
the 12 months prior to the termination of the Grantee’s Employment,

 

		(B)	that is substantially related to any activity for which the Grantee had direct or indirect managerial
or supervisory responsibility with the Company during the 12 months prior
to the termination of the Grantee’s Employment, or

 

    -4- 

     

    

 

		(C)	that calls for the application of specialized knowledge or skills substantially related to those used
by the Grantee in his activities with the Company during the 12 months prior to the termination of the Grantee’s Employment.

 

For purposes of this Award Agreement,
 “Competitive Enterprise” means any business enterprise then engaged in providing financial services anywhere
in the United States.

 

		Non-Solicitation:	During the Grantee’s Employment and for a period of 12 months following the termination of the Grantee’s
Employment for any reason, the Grantee will not, in any manner, directly or indirectly (without the prior written consent of the Company):
(i) Solicit any Client to transact business with a Competitive Enterprise or to reduce or refrain from doing any business with the Company,
(ii) transact business with any Client that would cause the Grantee to be a Competitive Enterprise, (iii) interfere with or damage any
relationship between the Company and a Client or (iv) Solicit anyone who is then an employee of the Company (or who was an employee of
the Company within the prior 12 months) to resign from the Company or to apply for or accept employment with any other business or enterprise.
For purposes of this Award Agreement, a “Client” means any client or prospective client of the Company to whom
the Grantee provided services, or for whom the Grantee transacted business, or whose identity became known to the Grantee in connection
with his relationship with or employment by the Company, and “Solicit” means any direct or indirect communication
of any kind, regardless of who initiates it, that in any way invites, advises, encourages or requests any person to take or refrain from
taking any action.

 

    -5- 

     

    

 

	Confidentiality:	During the Grantee’s Employment and thereafter, the Grantee will hold in a fiduciary capacity
                                                                             for the benefit of the Company all trade secrets and confidential information, knowledge or data relating to the Company and its
                                                                             businesses and investments, which will have been obtained by the Grantee during the Grantee’s employment by the Company and
                                                                             which is not generally available public knowledge (other than by acts by the Grantee in violation of this Award Agreement). Except
                                                                             as may be required or appropriate in connection with his carrying out his duties to the Company, the Grantee will not, without the
                                                                             prior written consent of the Company or as may otherwise be required by law or any legal process, any statutory obligation or order
                                                                             of any court or statutory tribunal of competent jurisdiction, or as is necessary
in connection with any adversarial proceeding against the Company (in which case the Grantee will use his reasonable best efforts in cooperating
with the Company in obtaining a protective order against disclosure by a court of competent jurisdiction), communicate or divulge any
such trade secrets, information, knowledge or data to anyone other than the Company and those designated by the Company or on behalf of
the Company in the furtherance of its business or to perform duties hereunder. Notwithstanding anything to the contrary in this Award
Agreement or otherwise, nothing shall limit the Grantee’s rights under applicable law to provide truthful information to any governmental
entity or to file a charge with or participate in an investigation conducted by any governmental entity. Notwithstanding the foregoing,
the Grantee agrees to waive the Grantee’s right to recover monetary damages in connection with any charge, complaint or lawsuit
filed by the Grantee or anyone else on the Grantee’s behalf (whether involving a governmental entity or not); provided that the
Grantee is not agreeing to waive, and this Award Agreement shall not be read as requiring the Grantee to waive, any right the Grantee
may have to receive an award for information provided to any governmental entity. The Grantee is hereby notified that the immunity provisions
in Section 1833 of title 18 of the United States Code provide that an individual cannot be held criminally or civilly liable under any
federal or state trade secret law for any disclosure of a trade secret that is made (1) in confidence to federal, state or local government
officials, either directly or indirectly, or to an attorney, and is solely for the purpose of reporting or investigating a suspected violation
of the law, (2) under seal in a complaint or other document filed in a lawsuit or other proceeding, or (3) to the Grantee’s attorney
in connection with a lawsuit for retaliation for reporting a suspected violation of law (and the trade secret may be used in the court
proceedings for such lawsuit) as long as any document containing the trade secret is filed under seal and the trade secret is not disclosed
except pursuant to court order.

 
	Inventions Assignment:	The Grantee will
    and hereby does assign to the Company all rights to trade secrets and other products relating to the Company’s business developed
    by the Grantee alone or in conjunction with others at any time while employed by the Company. In the event of any conflict between
    this provision and of any applicable employee manual or similar policy of the Company, this provision will govern.

 

		Amendment:	The Company reserves the right at any time to amend the terms and conditions set forth in this Award Agreement,
except that the Committee shall not make any amendment that materially adversely impairs the rights of the Grantee
without the Grantee’s consent. Any amendment of this Award Agreement shall be in writing and signed by an authorized member of the
Committee or a person or persons designated by the Committee.

  

    -6- 

     

    

 
	Governing Law:	This Award Agreement
    shall be deemed to be made under, and in all respects be interpreted, construed and governed by and in accordance with, the laws
    of the State of Delaware without regard to conflict of law principles.

 
	All Other Terms:	As set forth in the
    Plan.

 

The Plan is incorporated herein by reference.
Except as otherwise set forth in this Award Agreement, this Award Agreement and the Plan constitute the entire agreement and understanding
of the parties with respect to the Options. In the event that any provision of this Award Agreement is inconsistent with the Plan, the
terms of this Award Agreement will control. Except as specifically provided herein, in the event that any provision of this Award Agreement
is inconsistent with any employment agreement or similar agreement between the Grantee and the Company (“Employment Agreement”),
the terms of the Employment Agreement will control. By accepting this Award Agreement, the Grantee agrees to be subject to the terms and
conditions of the Plan.

 

This Award Agreement may be executed in counterparts,
which together will constitute one and the same original.

 

[Remainder of page intentionally left blank]

 

    -7- 

     

    

 

IN WITNESS WHEREOF,
the parties have caused this Award Agreement to be duly executed and effective as of the Grant Date.

 

	 	DYNASTY FINANCIAL PARTNERS, INC.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	[NAME OF GRANTEE]
	 	 
	 	 

 

    -8-

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