Document:

Exhibit
10.2

 

FORM OF PLACEMENT AGENCY AGREEMENT

 

 

[Placement Agent]

[  ], 2021

 

Ladies and Gentlemen:

 

This letter (this “Agreement”)
constitutes the agreement between Color Star Technology Co. Ltd. (the “Company”) and ________ (“___________”
or the “Placement Agent”) pursuant to which __________shall serve as the placement agent for the Company, on a reasonable
“best efforts” basis, in connection with the proposed offer and sale (the “Offering”) by the Company of
its Securities (as defined Section 3 of this Agreement) (the “Services”). The Company expressly acknowledges and agrees
that ________’s obligations hereunder are on a reasonable “best efforts” basis only and that the execution of this
Agreement does not constitute a commitment by __________to purchase the Securities and does not ensure the successful placement of the Securities
or any portion thereof or the success of ___________with respect to securing any other financing on behalf of the Company.

 

		1.	Appointment of FT Global as Exclusive Placement Agent. 

 

On the basis of the representations,
warranties, covenants and agreements of the Company herein contained, and subject to all the terms and conditions of this Agreement, the
Company hereby appoints the Placement Agent as its exclusive placement agent in connection with a distribution of its Securities to be
offered and sold by the Company pursuant to a registration statement filed under the Securities Act of 1933, as amended (the “Securities
Act”) on Form F-3 (File No. 333-236616), and the Placement Agent agrees to act as the Company’s exclusive placement agent.
Pursuant to this appointment, the Placement Agent will solicit offers for the purchase of or attempt to place all or part of the Securities
of the Company in the proposed Offering. Until the final closing or upon termination of this Agreement pursuant to Section 5 hereof, the
Company shall not, without the prior written consent of the Placement Agent, solicit or accept offers to purchase the Securities other
than through the Placement Agent. The Placement Agent will use its reasonable “best efforts” to solicit offers to purchase
the Securities from the Company on the terms, and subject to the conditions, set forth in the Prospectus (as defined below). The Placement
Agent shall use commercially reasonable efforts to assist the Company in obtaining performance by each Purchaser (as defined below) whose
offer to purchase Securities has been solicited by the Placement Agent, but the Placement Agent shall not, except as otherwise provided
in this Agreement, be obligated to disclose the identity of any potential purchaser or have any liability to the Company in the event
any such purchase is not consummated for any reason. The Company acknowledges that under no circumstances will the Placement Agent be
obligated to underwrite or purchase any Securities for its own account and, in soliciting purchases of the Securities, the Placement Agent
shall act solely as an agent of the Company. The Services provided pursuant to this Agreement shall be on an “agency” basis
and not on a “principal” basis. Following 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 Offering.

 

The Placement Agent will solicit
offers for the purchase of the Securities in the Offering at such times and in such amounts as the Placement Agent deems advisable. The
Company shall have the sole right to accept offers to purchase Securities and may reject any such offer, in whole or in part. The Company
and Placement Agent shall negotiate the timing and terms of the Offering and acknowledge that the Offering and the provision of the Services
related to the Offering are subject to market conditions and the receipt of all required related clearances and approvals.

 

     

     

    

 

		2.	Fees; Expenses; Other Arrangements.

 

A.
Placement Agent’s Fee. As compensation for services rendered, the Company shall pay to the Placement Agent in cash
by wire transfer in immediately available funds to an account or accounts designated by the Placement Agent an amount (the “Placement
Fee”) equal to seven percent (7.0%) of the aggregate gross proceeds received by the Company from the sale of the Securities,
at the closing of the Offering (the “Closing” and the date on which the Closing occurs, the “Closing Date”);
and the Company shall issue to the Placement Agent or its designee(s) at the Closing a three-year warrant to purchase such number of Ordinary
Shares (as defined in Section 3) equal to three percent (3.0%) of the Ordinary Shares sold in this Offering (or underlying any convertible
Securities sold in the Offering, which shall be calculated based on the maximum number of Ordinary Shares that may be issued to Investors
(as defined below) in the Offering, but shall exclude any Ordinary Shares issuable upon exercise of the Warrants issued in the Offering)
at an exercise price of $1.00, which warrant shall be exercisable in full or in part at any time beginning one hundred eighty (180) days
after the date of the Offering (the “Placement Agent Warrant” and together with the Ordinary Shares (as defined in
Section 3) underlying the Placement Agent Warrant, the “Placement Agent Securities”). The Placement Agent may deduct
from the net proceeds of the Offering payable to the Company on the Closing Date the Placement Fee set forth herein to be paid by the
Company to the Placement Agent. For the avoidance of doubt, the term of the Placement Agent Warrant shall not exceed three (3) years from
the commencement of sales in the Offering. The Placement Agent hereby agrees that the holder of the Placement Agent Warrant will not sell,
transfer, assign, pledge or hypothecate the Placement Agent Securities, nor shall any Placement Agent Securities be the subject of any
hedging, short sale, derivative, put, or call transaction that would result in the effective economic disposition of the Placement Agent
Securities for a period of one hundred eighty (180) days beginning on the date of the commencement of sales in the Offering in accordance
with Financial Industry Regulatory Authority, Inc. (“FINRA”) Rule 5110(e)(1), except as provided for in FINRA Rule
5110(e)(2).

 

B.
Offering Expenses. The Company will be responsible for and will pay all expenses relating to the Offering, including, without
limitation, (a) all filing fees and expenses relating to the registration of the Securities with the Securities and Exchange Commission
(the “Commission”); (b) all FINRA filing fees; (c) all fees and expenses relating to the listing of the Ordinary Shares
on the Nasdaq Capital Market (the “Exchange”); (d) the costs of all mailing and printing of the documents related to
the Offering; (e) transfer and/or stamp taxes, if any, payable upon the transfer of Securities from the Company to Investors; (f) the
fees and expenses of the Company’s accountants; (g) travel expenses and diligence expenses not to exceed $30,000; and (h) legal
fees of FT Global’s counsel not to exceed $80,000. The Placement Agent may deduct from the net proceeds of the Offering payable
to the Company on the Closing Date the expenses set forth herein to be paid by the Company to the Placement Agent, provided, however,
that in the event that the Offering is terminated, the Company agrees to reimburse the Placement Agent to the extent required by Section
5 hereof promptly after such termination.

 

C.
Tail Financing. The Placement Agent shall be entitled to fees per Section 2.A. of this Agreement with respect to any public
or private offering or other financing or capital-raising transaction of any kind (“Tail Financing”) to the extent
that such Tail Financing is provided to the Company by any investors that the Placement Agent has contacted on behalf of the Company or
investors that the Placement Agent had “wall-crossed” in connection with this Offering (or any entity under common management
or having a common investment advisor), if such Tail Financing is consummated at any time within the twelve (12) month period following
the termination of this Agreement. Prior to ten (10) days after termination or expiration of this Agreement, the Placement Agent will
provide a written list of such investors that the Placement Agent had “wall-crossed” in connection with this Offering. Any
right to the fees provided by this paragraph shall be terminated upon termination of this Agreement by the Company for “Cause,”
which shall mean a material breach by the Placement Agent of this Agreement or a material failure by the Placement Agent to provide the
Services as contemplated by this Agreement.

 

D.
The Services provided by the Placement Agent hereunder are solely for the benefit of the Company and are not intended to confer
any rights upon any persons or entities not a party hereto (including, without limitation, securityholders, employees or creditors of
the Company) as against the Placement Agent or its directors, officers, agents and employees.

 

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		3.	Description of the Offering. 

 

The Securities to be offered
directly to various investors (each, an “Investor” or “Purchaser” and, collectively, the “Investors”
or the “Purchasers”) pursuant to the Securities Purchase Agreement dated on or about the date hereof between the Company
and the Investors (the “Securities Purchase Agreement”) shall consist of the Company’s ordinary shares (“Ordinary
shares”) and certain warrants to purchase Ordinary Shares (the “Warrants,” and collectively with the Ordinary
Shares, the “Securities”). The purchase price for one Share and accompanying Warrant shall be $0.70 per unit of Securities
(the “Purchase Price”). If the Company shall default in its obligations to deliver Securities to a Purchaser whose
offer it has accepted and who has tendered payment, the Company shall indemnify and hold the Placement Agent harmless against any loss,
claim, damage or expense arising from or as a result of such default by the Company under this Agreement.

 

		4.	Delivery and Payment; Closing.

 

Settlement of the Securities
purchased by an Investor shall be made as set forth in the Securities Purchase Agreement. On the Closing Date, the Securities to which
the Closing relates shall be delivered through such means as the parties to the Securities Purchase Agreement may hereafter agree. The
Securities shall be registered in such name or names and in such authorized denominations as set forth in the Securities Purchase Agreement.
The term “Business Day” means any day other than a Saturday, a Sunday, a legal holiday or a day on which banking institutions
are authorized or obligated by law to close in New York, New York.

 

		5.	Term and Termination of Agreement. 

 

The term of this Agreement
will commence upon the execution of this Agreement and will terminate on the earlier of the closing of this Offering or thirty (30) days
from the date hereof. Notwithstanding anything to the contrary contained herein, any provision in this Agreement concerning or relating
to confidentiality, indemnification, contribution, advancement, the Company’s representations and warranties and the Company’s
obligations to pay fees and reimburse expenses will survive any expiration or termination of this Agreement. If any condition specified
in Section 8 is not satisfied when and as required to be satisfied, this Agreement may be terminated by the Placement Agent by notice
to the Company at any time on or prior to a Closing Date, which termination shall be without liability on the part of any party to any
other party, except that those portions of this Agreement specified in Section 19 shall at all times be effective and shall survive such
termination.

 

		6.	Permitted Acts. 

 

Nothing in this Agreement
shall be construed to limit the ability of the Placement Agent, its officers, directors, employees, agents, associated persons and any
individual or entity “controlling,” “controlled by,” or “under common control” with the Placement
Agent (as those terms are defined in Rule 405 under the Securities Act) to conduct its business including without limitation the ability
to pursue, investigate, analyze, invest in, or engage in investment banking, financial advisory or any other business relationship with
any individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company,
joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

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		7.	Representations, Warranties and Covenants of the Company.

 

As of the date and time of
the execution of this Agreement, the Closing Date and the Initial Sale Time (as defined herein), the Company (i) makes such representations
and warranties to the Placement Agent as the Company makes to the Investors pursuant to the Securities Purchase Agreement, and (ii) further
represents, warrants and covenants to the Placement Agent, other than as disclosed in any of its filings with the Commission, that:

 

A.
Registration Matters.

 

i. The Company
has filed with the Commission a registration statement on Form F-3 (File No. 333-236616) including a related prospectus, for the
registration of certain securities (the “Shelf Securities”), including the Ordinary Shares, Warrants, and
Ordinary Shares underlying the Warrants and the Placement Agent Securities, under the Securities Act and the rules and regulations
thereunder (the “Securities Act Regulations”). The registration statement has been declared effective under the
Securities Act by the Commission. The “Registration Statement,” as of any time, means such registration statement
as amended by any post-effective amendments thereto at such time, including the exhibits and any schedules thereto at such time, the
documents incorporated or deemed to be incorporated by reference therein at such time and the documents otherwise deemed to be a
part thereof as of such time pursuant to Rule 430A (“Rule 430A”) or Rule 430B under the Securities Act
Regulations (“Rule 430B”); provided, however, that the “Registration Statement” without reference to
a time means such registration statement as amended by any post-effective amendments thereto as of the time of the first contract of
sale for the Securities, which time shall be considered the “new effective date” of such registration statement with
respect to the Securities within the meaning of paragraph (f)(2) of Rule 430B, including the exhibits and schedules thereto as of
such time, the documents incorporated or deemed incorporated by reference therein at such time and the documents otherwise deemed to
be a part thereof as of such time pursuant to Rule 430A or Rule 430B. Any registration statement filed pursuant to Rule 462(b) of
the Securities Act Regulations is hereinafter called the “Rule 462(b) Registration Statement,” and after such
filing the term “Registration Statement” shall include the Rule 462(b) Registration Statement. The prospectus offering
the Shelf Securities in the form first used to confirm sales of the Securities (or in the form first made available to the Placement
Agent by the Company to meet requests of purchasers pursuant to Rule 173 under the Securities Act) is hereinafter referred to as the
“Base Prospectus.” The Base Prospectus, as supplemented by the prospectus supplement specifically related to the
Securities in the form first used to confirm sales of the Securities (or in the form first made available to the Placement Agent by
the Company to meet requests of purchasers pursuant to Rule 173 under the Securities Act), is hereinafter referred to, collectively,
as the “Prospectus,” and the term “Preliminary Prospectus” means any preliminary form of the
Prospectus, including any preliminary prospectus supplement specifically related to the Securities filed with the Commission by the
Company with the consent of the Placement Agent.

 

ii.
All references in this Agreement to financial statements and schedules and other information which is “contained,”
“included” or “stated” (or other references of like import) in the Registration Statement, any Preliminary Prospectus
or the Prospectus shall be deemed to include all such financial statements and schedules and other information incorporated or deemed
incorporated by reference in the Registration Statement, such Preliminary Prospectus or the Prospectus, as the case may be, prior to the
execution and delivery of this Agreement; and all references in this Agreement to amendments or supplements to the Registration Statement,
any Preliminary Prospectus or the Prospectus shall be deemed to include the filing of any document under the Securities Exchange Act of
1934, as amended (the “Exchange Act”), and the rules and regulations thereunder (the “Exchange Act Regulations”),
incorporated or deemed to be incorporated by reference in the Registration Statement, such Preliminary Prospectus or the Prospectus, as
the case may be, at or after the execution and delivery of this Agreement.

 

iii.
The term “Disclosure Package” means (i) the Preliminary Prospectus, if any, as most recently amended or supplemented
immediately prior to the Initial Sale Time (as defined herein), and (ii) the Issuer Free Writing Prospectuses (as defined below), if any,
identified in Schedule I hereto.

 

iv.
The term “Issuer Free Writing Prospectus” means any issuer free writing prospectus, as defined in Rule 433 of
the Securities Act Regulations. The term “Free Writing Prospectus” means any free writing prospectus, as defined in
Rule 405 of the Securities Act Regulations.

 

v.
Any Preliminary Prospectus when filed with the Commission, and the Registration Statement as of each effective date and as of the
date hereof, complied or will comply, and the Prospectus and any further amendments or supplements to the Registration Statement, any
Preliminary Prospectus or the Prospectus will, when they become effective or are filed with the Commission, as the case may be, comply,
in all material respects, with the requirements of the Securities Act and the Securities Act Regulations; and the documents incorporated
by reference in the Registration Statement, any Preliminary Prospectus or the Prospectus complied, and any further documents so incorporated
will comply, when filed with the Commission, in all material respects to the requirements of the Exchange Act and Exchange Act Regulations.

 

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vi.
The issuance by the Company of the Securities has been registered under the Securities Act. The Securities will be issued pursuant
to the Registration Statement and each of the Securities will be freely transferable and freely tradable by each of the Investors without
restriction, unless otherwise restricted by applicable law or regulation. The Company is eligible to use Form F-3 under the Securities
Act and it meets the transaction requirements with respect to the public float requirements of General Instruction I.B.1 of Form F-3.

 

B.
Stock Exchange Listing. The Ordinary Shares are approved for listing on the Exchange and the Company has taken no action
designed to, or likely to have the effect of, delisting the Ordinary Shares from the Exchange, nor has the Company received any notification
that the Exchange is contemplating terminating such listing.

 

C.
No Stop Orders, etc. Neither the Commission nor, to the Company’s knowledge, any state regulatory authority has issued any
order preventing or suspending the use of the Registration Statement, any Preliminary Prospectus or the Prospectus or has instituted or,
to the Company’s knowledge, threatened to institute, any proceedings with respect to such an order. The Company has complied with each
request (if any) from the Commission for additional information.

 

D.
Disclosures in Registration Statement.

 

		i.	Compliance with Securities Act and 10b-5 Representation. 

 

(a)
Each of the Registration Statement and any post-effective amendment thereto, at the time it became effective, complied in all material
respects with the requirements of the Securities Act and the Securities Act Regulations. The Preliminary Prospectus and the Prospectus,
at the time each was or will be filed with the Commission, complied or will comply in all material respects with the requirements of the
Securities Act and the Securities Act Regulations. The Preliminary Prospectus delivered to the Placement Agent for use in connection with
this Offering and the Prospectus was or will be identical to the electronically transmitted copies thereof filed with the Commission pursuant
to EDGAR, except to the extent permitted by Regulation S-T.

 

(b)
None of the Registration Statement, any amendment thereto, or the Preliminary Prospectus, as of 8:00 a.m. (Eastern time) on the
date hereof (the “Initial Sale Time”), and at the Closing Date, contained, contains or will contain an untrue statement
of a material fact or omitted, omits or will omit to state a material fact required to be stated therein or necessary to make the statements
therein not misleading; provided, however, that this representation and warranty shall not apply to statements made or statements omitted
in reliance upon and in conformity with written information furnished to the Company with respect to the Placement Agent by the Placement
Agent expressly for use in the Registration Statement or any amendment thereof or supplement thereto. The parties acknowledge and agree
that such information provided by or on behalf of any Placement Agent consists solely of the following disclosure contained in the “Plan
of Distribution” section of the Prospectus: (i) the name of the Placement Agent, and (ii) the first sentence of the second paragraph
in such section (the “Placement Agent’s Information”).

 

(c)
The Disclosure Package, as of the Initial Sale Time and at the Closing Date, did not, does not and will not include an 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; and each Issuer Free Writing Prospectus does not conflict with the information contained in
the Registration Statement, any Preliminary Prospectus, or the Prospectus, and each such Issuer Free Writing Prospectus, as supplemented
by and taken together with the Preliminary Prospectus as of the Initial Sale Time, did not include an untrue statement of a material fact
or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were
made, not misleading; provided, however, that this representation and warranty shall not apply to statements made or statements omitted
in reliance upon and in conformity with written information furnished to the Company with respect to the Placement Agent by the Placement
Agent expressly for use in the Registration Statement, the Preliminary Prospectus or the Prospectus or any amendment thereof or supplement
thereto. The parties acknowledge and agree that such information provided by or on behalf of any Placement Agent consists solely of the
Placement Agent’s Information; and

 

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(d) Neither the
Prospectus nor any amendment or supplement thereto, as of its issue date, at the time of any filing with the Commission pursuant to
Rule 424(b), or at the Closing Date, included, includes or will include an untrue statement of a material fact or omitted, omits or
will 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; provided, however, that this representation and warranty shall not apply to the Placement Agent’s
Information.

 

ii. Disclosure
of Agreements. The agreements and documents described in the Registration Statement, the Disclosure Package and the Prospectus
conform in all material respects to the descriptions thereof contained therein and there are no agreements or other documents
required by the Securities Act and the Securities Act Regulations to be described in the Registration Statement, the Disclosure
Package and the Prospectus or to be filed with the Commission as exhibits to the Registration Statement, that have not been so
described or filed. Each agreement or other instrument (however characterized or described) to which the Company is a party or by
which it is or may be bound or affected and (i) that is referred to in the Registration Statement, the Disclosure Package and the
Prospectus, and (ii) is material to the Company’s business, has been duly authorized and validly executed by the Company, is in full
force and effect in all material respects and is enforceable against the Company and, to the Company’s knowledge, the other parties
thereto, in accordance with its terms, except (x) as such enforceability may be limited by bankruptcy, insolvency, reorganization or
similar laws affecting creditors’ rights generally, (y) as enforceability of any indemnification or contribution provision may be
limited under the federal and state securities laws, and (z) that the remedy of specific performance and injunctive and other forms
of equitable relief may be subject to the equitable defenses and to the discretion of the court before which any proceeding therefor
may be brought. None of such agreements or instruments has been assigned by the Company, and neither the Company nor, to the
Company’s knowledge, any other party is in default thereunder and, to the Company’s knowledge, no event has occurred that, with the
lapse of time or the giving of notice, or both, would constitute a default thereunder, except as disclosed in the Registration
Statement, the Disclosure Package and the Prospectus. To the Company’s knowledge, performance by the Company of the material
provisions of such agreements or instruments will not result in a violation of any existing applicable law, rule, regulation,
judgment, order or decree of any governmental agency or court, domestic or foreign, having jurisdiction over the Company or any of
its assets or businesses, including, without limitation, those relating to environmental laws and regulations.

 

iii. Changes
After Dates in Registration Statement.

 

(a)
No Material Adverse Change. Since the respective dates as of which information is given in the Registration Statement, the
Disclosure Package and the Prospectus, except as otherwise specifically stated therein: (i) there has been no material adverse change
in the financial position or results of operations of the Company, nor any change or development that, singularly or in the aggregate,
would involve a material adverse change, in or affecting the condition (financial or otherwise), results of operations, business, assets
or prospects of the Company (a “Material Adverse Change”); (ii) there have been no material transactions entered into
by the Company, other than as contemplated pursuant to this Agreement; and (iii) no officer or director of the Company has resigned from
any position with the Company.

 

(b) Recent
Securities Transactions, etc. Subsequent to the respective dates as of which information is given in the Registration Statement,
the Disclosure Package and the Prospectus, and except as may otherwise be indicated or contemplated herein or disclosed in the
Registration Statement, the Disclosure Package and the Prospectus, the Company has not: (i) issued any securities (other than (i)
grants under any stock compensation plan and (ii) Ordinary Shares issued upon the exercise or conversion of option, warrants or
convertible securities described in the Registration Statement, the Disclosure Package and the Prospectus) or incurred any liability
or obligation, direct or contingent, for borrowed money; or (ii) declared or paid any dividend or made any other distribution on or
in respect to its capital stock.

 

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E. Transactions
Affecting Disclosure to FINRA.

 

i. Finder’s
Fees. There are no claims, payments, arrangements, agreements or understandings relating to the payment of a finder’s,
consulting or origination fee by the Company or any executive officer or director of the Company (each, an
“Insider”) with respect to the sale of the Securities hereunder or any other arrangements, agreements or
understandings of the Company or, to the Company’s knowledge, any of its stockholders.

 

ii. Payments
Within Twelve (12) Months. The Company has not made any direct or indirect payments (in cash, securities or otherwise) to: (i)
any person, as a finder’s fee, consulting fee or otherwise, in consideration of such person raising capital for the Company or
introducing to the Company persons who raised or provided capital to the Company; (ii) any FINRA member; or (iii) any person or
entity that has any direct or indirect affiliation or association with any FINRA member, within the twelve (12) months prior to the
date hereof, other than (A) the payment to the Placement Agent as provided hereunder in connection with the Offering, and (B) other
payments to the Placement Agent under other Placement Agency Agreements.

 

iii. Use of
Proceeds. None of the net proceeds of the Offering will be paid by the Company to any participating FINRA member or its
affiliates, except as specifically authorized herein.

 

iv. FINRA
Affiliation. There is no (i) officer or director of the Company, (ii) to the Company’s knowledge, beneficial owner of 5%
or more of any class of the Company’s securities or (iii) to the Company’s knowledge, beneficial owner of the Company’s
unregistered equity securities which were acquired during the 180-day period immediately preceding the filing of the Registration
Statement that is an affiliate or associated person of a FINRA member participating in the Offering (as determined in accordance
with the rules and regulations of FINRA).

 

F. Integration.
Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf has, directly or indirectly, made any
offers or sales of any security or solicited any offers to buy any security, under circumstances that would cause the Offering to be
integrated with prior offerings by the Company for purposes of the Securities Act that would require the registration of any such
securities under the Securities Act.

 

G. Restriction on
Sales of Capital Stock. The Company, on behalf of itself and any successor entity, agrees that it will not, for a period of 180
days after the date of this Agreement (the “Lock-Up Period”), without the prior written consent of the Placement
Agent (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell,
grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of
capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the
Company; (ii) file or cause to be filed any registration statement with the Commission relating to the offering of any shares of
capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the
Company, other than pursuant to a registration statement on Form S-8 for employee benefit plans; whether any such transaction
described in clause (i) or (ii) above is to be settled by delivery of shares of capital stock of the Company or such other
securities, in cash or otherwise; or (iii) publicly announce an intention to effect any transaction specified in clause (i) or (ii).
The restrictions contained in this section shall not apply to the issuance of (a) Ordinary Shares or options to employees, officers
or directors of the Company pursuant to any stock or option plan duly adopted for such purpose, by a majority of the non-employee
members of the Board of Directors or a majority of the members of a committee of non-employee directors established for such purpose
for services rendered to the Company; (b) securities upon the exercise or exchange of or conversion of any Securities issued
hereunder and/or other securities exercisable or exchangeable for or convertible into Ordinary Shares issued and outstanding on the
date of this Agreement, provided that such securities have not been amended since the date of this Agreement to increase the number
of such securities or to decrease the exercise price, exchange price or conversion price of such securities (other than in
connection with stock splits or combinations) or to extend the term of such securities; (c) securities issued pursuant to
acquisitions or strategic transactions approved by a majority of the disinterested directors of the Company, provided that such
securities are issued as “restricted securities” (as defined in Rule 144) and carry no registration rights that require
or permit the filing of any registration statement in connection therewith during the Lock-up Period, and provided that any such
issuance shall only be to a Person (or to the equityholders of a Person) which is, itself or through its subsidiaries, an operating
company or an owner of an asset in a business synergistic with the business of the Company and shall provide to the Company
additional benefits in addition to the investment of funds, but shall not include a transaction in which the Company is issuing
securities primarily for the purpose of raising capital or to an entity whose primary business is investing in securities; and (d)
issuance of Ordinary Shares at a premium of a minimum of 40% over the per share Purchase Price.

 

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H. Variable Rate
Transactions. From the date hereof until one (1) year after the Closing Date, the Company shall be prohibited from effecting or
entering into an agreement to effect any issuance by the Company or any of its subsidiaries of equity securities or equity security
equivalents (or a combination of units thereof) involving a Variable Rate Transaction. For purposes of this Agreement,
“Variable Rate Transaction” shall mean a transaction in which the Company (i) issues or sells any debt or equity
securities that are convertible into, exchangeable or exercisable for, or include the right to receive additional Ordinary Shares
either (A) at a conversion price, exercise price or exchange rate or other price that is based upon and/or varies with the trading
prices of or quotations for the Ordinary Shares at any time after the initial issuance of such debt or equity securities, or (B)
with a conversion, exercise or exchange price that is subject to being reset at some future date after the initial issuance of such
debt or equity security or upon the occurrence of specified or contingent events directly or indirectly related to the business of
the Company or the market for the Ordinary Shares or (ii) enters into, or effects a transaction under, any agreement, including, but
not limited to, an equity line of credit, whereby the Company may issue securities at a future determined price. The Placement Agent
shall be entitled to obtain injunctive relief against the Company to preclude any such issuance, which remedy shall be in addition
to any right to collect damages.

 

		8.	Conditions of the Obligations of the Placement Agent. 

 

The obligations of the Placement
Agent hereunder shall be subject to the accuracy of the representations and warranties on the part of the Company set forth in Section
7 hereof, in each case as of the date hereof and as of the Closing Date as though then made, to the timely performance by each of the
Company of its covenants and other obligations hereunder on and as of such dates, and to each of the following additional conditions: 

 

A. Regulatory
Matters.

 

i. Effectiveness
of Registration Statement; Rule 424 Information. The Registration Statement is effective on the date of this Agreement, and, on
the Closing Date no stop order suspending the effectiveness of the Registration Statement or any post-effective amendment thereto
has been issued under the Securities Act, no order preventing or suspending the use of any Preliminary Prospectus or the Prospectus
has been issued and no proceedings for any of those purposes have been instituted or are pending or, to the Company’s
knowledge, contemplated by the Commission. The Company has complied with each request (if any) from the Commission for additional
information. All filings with the Commission required by Rule 424 under the Securities Act to have been filed by the Closing Date
shall have been made within the applicable time period prescribed for such filing by Rule 424.

 

ii. FINRA
Clearance. On or before the Closing Date of this Agreement, the Placement Agent shall have received clearance from FINRA as to
the amount of compensation allowable or payable to the Placement Agent as described in the Registration Statement.

 

iii. Listing
of Additional Shares. On or before the Closing Date of this Agreement, the Company shall have filed a notice with the Exchange
with respect to the Company’s additional listing of the securities sold in the Offering.

 

B. Company Counsel
Matters. On the Closing Date, the Placement Agent shall have received the favorable opinion from Kaufman & Canoles, P.C.,
outside counsel for the Company, and the favorable opinion of Conyers Dill & Pearman, PC, Cayman Islands counsel, and [_], PRC
Counsel for the Company, in each case, dated the Closing Date and addressed to the Placement Agent, substantially in form and
substance reasonably satisfactory to the Placement Agent.

 

C. Comfort
Letter. The Placement Agent shall have received a letter dated the Closing Date, in form and substance satisfactory to the
Placement Agent, from the Company’s independent public accountants, containing statements and information of the type ordinarily
included in accountants’ “comfort letters” with respect to the financial statements and certain financial
information contained in the Registration Statement and Prospectus.

 

    8

     

    

 

D. Officers’
Certificate. On the Closing Date, the Placement Agent shall have received a certificate of the chief executive officer and chief
financial officer of the Company, dated the Closing Date, to the effect that, (i) such officers have carefully examined the
Registration Statement, the Disclosure Package, any Issuer Free Writing Prospectus and the Prospectus and, in their opinion, the
Registration Statement and each amendment thereto, as of the Initial Sale Time and through the Closing Date did not include any
untrue statement of a material fact and did not omit to state a material fact required to be stated therein or necessary to make the
statements therein not misleading, and the Disclosure Package, as of the Initial Sale Time through the Closing Date, any Issuer Free
Writing Prospectus as of its date and as of the Closing Date, the Prospectus and each amendment or supplement thereto, as of the
respective date thereof and as of the Closing Date, did not include any untrue statement of a material fact and did not omit to
state a material fact necessary in order to make the statements therein, in the light of the circumstances in which they were made,
not misleading; and (ii) as of the Closing Date the representations and warranties of the Company contained herein and in the
Securities Purchase Agreement were and are accurate in all material respects, and that the obligations to be performed by the
Company hereunder have been fully performed in all material respects.

 

E. Secretary’s
Certificate. On the Closing Date, the Placement Agent shall have received from the Company a certificate of the corporate
secretary of the Company, dated the Closing Date, certifying to the organizational documents of the Company, good standing in the
jurisdiction of formation of the Company and board resolutions authorizing the Offering of the Securities.

 

F. Indemnification
Escrow. On the Closing Date, the Company will enter into an escrow agreement (the “Escrow Agreement”) with a
mutually agreeable escrow agent, pursuant to which $100,000 of the proceeds of the Offering will be deposited by the Company, in
connection with the payments of the Company’s indemnification obligations pursuant to Section 9. All remaining funds in the escrow
account that are not subject to an indemnification claim as of the twelve (12) month anniversary of the Closing Date will be
returned to the Company in accordance with the terms of the Escrow Agreement. The Company shall pay the reasonable fees and expenses
of the escrow agent.

 

G. No Material
Changes. Prior to and on the Closing Date: (i) there shall have been no Material Adverse Change or development involving a
prospective Material Adverse Change in the condition or prospects or the business activities, financial or otherwise, of the Company
from the latest dates as of which such condition is set forth in the Registration Statement, the Disclosure Package and the
Prospectus; (ii) no action, suit or proceeding, at law or in equity, shall have been pending or threatened against the Company or
any affiliates of the Company before or by any court or federal or state commission, board or other administrative agency wherein an
unfavorable decision, ruling or finding may materially adversely affect the business, operations, prospects or financial condition
or income of the Company, except as set forth in the Registration Statement, the Disclosure Package and the Prospectus; (iii) no
stop order shall have been issued under the Securities Act and no proceedings therefor shall have been initiated or threatened by
the Commission; and (iv) the Registration Statement, the Disclosure Package and the Prospectus and any amendments or supplements
thereto shall contain all material statements which are required to be stated therein in accordance with the Securities Act and the
Securities Act Regulations and shall conform in all material respects to the requirements of the Securities Act and the Securities
Act Regulations, and neither the Registration Statement, the Disclosure Package nor the Prospectus nor any amendment or supplement
thereto shall contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or
necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.

 

H. Delivery of
Agreements.

 

(i) Placement Agent
Warrant. On the Closing Date, the Company shall have delivered to the Placement Agent an executed copy of the Placement Agent Warrant
in such designations as requested by the Placement Agent.

 

(ii) Escrow Agreement.
On the Closing Date, the Company shall have delivered to the Placement Agent an executed copy of the Escrow Agreement.

 

I. Additional
Documents. At the Closing Date, Placement Agent’s counsel shall have been furnished with such documents and opinions as
they may require in order to evidence the accuracy of any of the representations or warranties, or the fulfillment of any of the
conditions, herein contained; and all proceedings taken by the Company in connection with the issuance and sale of the Securities as
herein contemplated shall be satisfactory in form and substance to the Placement Agent and Placement Agent’s counsel.

 

    9

     

    

 

		9.	Indemnification and Contribution; Procedures. 

 

A. Indemnification of
the Placement Agent. The Company agrees to indemnify and hold harmless the Placement Agent, its affiliates and each person
controlling such Placement Agent (within the meaning of Section 15 of the Securities Act), and the directors, officers, agents and
employees of the Placement Agent, its affiliates and each such controlling person (the Placement Agent, and each such entity or
person hereafter is referred to as an “Indemnified Person”) from and against any losses, claims, damages,
judgments, assessments, costs and other liabilities (collectively, the “Liabilities”), and shall reimburse each
Indemnified Person for all fees and expenses (including the reasonable fees and expenses of counsel for the Indemnified Persons,
except as otherwise expressly provided in this Agreement) (collectively, the “Expenses”) and agrees to advance,
promptly upon request, payment of such Expenses as they are incurred by an Indemnified Person in investigating, preparing, pursuing
or defending any actions, whether or not any Indemnified Person is a party thereto, arising out of or based upon any untrue
statement or alleged untrue statement of a material fact contained in (i) the Registration Statement, the Disclosure Package, the
Preliminary Prospectus, the Prospectus or in any Issuer Free Writing Prospectus (as from time to time each may be amended and
supplemented); (ii) any materials or information provided to investors by, or with the approval of, the Company in connection with
the marketing of the Offering, including any “road show” or investor presentations made to investors by the Company
(whether in person or electronically); or (iii) any application or other document or written communication (in this Section 9,
collectively called “application”) executed by the Company or based upon written information furnished by the Company in
any jurisdiction in order to qualify the Securities under the securities laws thereof or filed with the Commission, any state
securities commission or agency, any national securities exchange; or the omission or alleged omission therefrom of a material fact
required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were
made, not misleading, unless such statement or omission was made in reliance upon, and in conformity with, the Placement
Agent’s information. The Company also agrees to reimburse each Indemnified Person for all Expenses as they are incurred in
connection with such Indemnified Person’s enforcement of his or its rights under this Agreement. Each Indemnified Person is an
intended third party beneficiary with the same rights to enforce the indemnification that each Indemnified Person would have if he
was a party to this Agreement.

 

B. Procedure.
Upon receipt by an Indemnified Person of actual notice of an action against such Indemnified Person with respect to which indemnity
may reasonably be expected to be sought under this Agreement, such Indemnified Person shall promptly notify the Company in writing;
provided that failure by any Indemnified Person so to notify the Company shall not relieve the Company from any obligation or
liability which the Company may have on account of this Section 9 or otherwise to such Indemnified Person,
except to the extent (and only to the extent) that its ability to assume the defense is actually impaired by such failure or
delay. The Company shall, if requested by the Placement Agent, assume the defense of any such action (including the
employment of counsel and reasonably satisfactory to the Placement Agent). Any Indemnified Person shall have the right to employ
separate counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at
the expense of such Indemnified Person unless: (i) the Company has failed promptly to assume the defense and employ counsel for the
benefit of the Placement Agent and the other Indemnified Persons or (ii) such Indemnified Person shall have been advised that in the
opinion of counsel that there is an actual or potential conflict of interest that prevents (or makes it imprudent for) the counsel
engaged by the Company for the purpose of representing the Indemnified Person, to represent both such Indemnified Person and any
other person represented or proposed to be represented by such counsel, it being understood, however,
that the Company shall not be liable for the expenses of more than one separate counsel
(together with local counsel), representing the Placement Agent and all Indemnified persons who
are parties to such action. The Company shall not be liable for any settlement of any action effected without its written
consent (which shall not be unreasonably withheld). In addition, the Company shall not, without the prior written consent of the
Placement Agent, settle, compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or
threatened action in respect of which advancement, reimbursement, indemnification or contribution may be sought hereunder (whether
or not such Indemnified Person is a party thereto) unless such settlement, compromise, consent or termination (i) includes an
unconditional release of each Indemnified Person, acceptable to such Indemnified Party, from all Liabilities arising out of such
action for which indemnification or contribution may be sought hereunder and (ii) does not include a statement as to or an admission
of fault, culpability or a failure to act, by or on behalf of any Indemnified Person. The advancement, reimbursement,
indemnification and contribution obligations of the Company required hereby shall be made by periodic payments of the amount thereof
during the course of the investigation or defense, as every Liability and Expense is incurred and is due and payable, and in such
amounts as fully satisfy each and every Liability and Expense as it is incurred (and in no event later than 30 days following the
date of any invoice therefor).

 

    10

     

    

 

C. Indemnification of
the Company. The Placement Agent agrees to indemnify and hold harmless the Company, its directors, its officers who signed the
Registration Statement and persons who control the Company within the meaning of Section 15 of the Securities Act or Section 20 of
the Exchange Act against any and all Liabilities, but only with respect to untrue statements or omissions, or alleged untrue
statements or omissions made in the Registration Statement, any Preliminary Prospectus, the Disclosure Package or Prospectus or any
amendment or supplement thereto, in reliance upon, and in strict conformity with, the Placement Agent’s Information. In case
any action shall be brought against the Company or any other person so indemnified based on any Preliminary Prospectus, the
Registration Statement, the Disclosure Package or Prospectus or any amendment or supplement thereto, and in respect of which
indemnity may be sought against the Placement Agent, the Placement Agent shall have the rights and duties given to the Company, and
the Company and each other person so indemnified shall have the rights and duties given to the Placement Agent by the provisions of
Section 9.B. The Company agrees promptly to notify the Placement Agent of the commencement of any litigation or proceedings against
the Company or any of its officers, directors or any person, if any, who controls the Company within the meaning of Section 15 of
the Securities Act or Section 20 of the Exchange Act, in connection with the issuance and sale of the Securities or in connection
with the Registration Statement, the Disclosure Package, the Prospectus or any Issuer Free Writing Prospectus, provided, that failure
by the Company so to notify the Placement Agent shall not relieve the Placement Agent from any obligation or liability which the
Placement Agent may have on account of this Section 9.C. or otherwise to the Company, except to the extent the Placement Agent is
materially prejudiced as a proximate result of such failure.

 

D. Contribution.
In the event that a court of competent jurisdiction makes a finding that indemnity is unavailable to any indemnified person, then
each indemnifying party shall contribute to the Liabilities and Expenses paid or payable by such indemnified person in such
proportion as is appropriate to reflect (i) the relative benefits to the Company, on the one hand, and to the Placement Agent and
any other Indemnified Person, on the other hand, of the matters contemplated by this Agreement or (ii) if the allocation provided by
the immediately preceding clause is not permitted by applicable law, not only such relative benefits but also the relative fault of
the Company, on the one hand, and the Placement Agent and any other Indemnified Person, on the other hand, in connection with the
matters as to which such Liabilities or Expenses relate, as well as any other relevant equitable considerations; provided that in no
event shall the Company contribute less than the amount necessary to ensure that all Indemnified Persons, in the aggregate, are not
liable for any Liabilities and Expenses in excess of the amount of commissions actually received by the Placement Agent pursuant to
this Agreement. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the
Company on the one hand or the Placement Agent on the other and the parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent such statement or omission. The Company and the Placement Agent agree that it would not be
just and equitable if contributions pursuant to this subsection (D) were determined by pro rata allocation or by any other method of
allocation which does not take account of the equitable considerations referred to above in this subsection (D). For purposes of
this paragraph, the relative benefits to the Company, on the one hand, and to the Placement Agent on the other hand, of the matters
contemplated by this Agreement shall be deemed to be in the same proportion as: (a) the total value received by the Company in the
Offering, whether or not such Offering is consummated, bears to (b) the commissions paid to the Placement Agent under this
Agreement. Notwithstanding the above, no person guilty of fraudulent misrepresentation within the meaning of Section 11(f) of the
Securities Act shall be entitled to contribution from a party who was not guilty of fraudulent misrepresentation.

 

E. Limitation.
The Company also agrees that no Indemnified Person shall have any liability (whether direct or indirect, in contract or tort or
otherwise) to the Company for or in connection with advice or services rendered or to be rendered by any Indemnified Person pursuant
to this Agreement, the transactions contemplated thereby or any Indemnified Person’s actions or inactions in connection with
any such advice, services or transactions, except to the extent that a court of competent jurisdiction has made a finding that
Liabilities (and related Expenses) of the Company have resulted primarily from such Indemnified Person’s gross negligence or
willful misconduct in connection with any such advice, actions, inactions or services.

 

    11

     

    

 

F. Survival. The
advancement, reimbursement, indemnity and contribution obligations set forth in this Section 9 shall remain in full force and effect
regardless of any termination of, or the completion of any Indemnified Person’s services under or in connection with, this
Agreement. Each Indemnified Person is an intended third-party beneficiary of this Section 9, and has the right to enforce the
provisions of Section 9 as if he/she/it was a party to this Agreement.

 

		10.	Limitation of FT Global’s Liability to the Company. 

 

FT Global and the Company
further agree that neither FT Global nor any of its affiliates or any of their respective officers, directors, controlling persons (within
the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act), employees or agents shall have any liability to the
Company, its security holders or creditors, or any person asserting claims on behalf of or in the right of the Company (whether direct
or indirect, in contract or tort, for an act of negligence or otherwise) for any losses, fees, damages, liabilities, costs, expenses or
equitable relief arising out of or relating to this Agreement or the Services rendered hereunder, except for losses, fees, damages, liabilities,
costs or expenses that arise out of or are based on any action of or failure to act by FT Global and that are finally judicially determined
to have resulted solely from the gross negligence or willful misconduct of FT Global.

 

		11.	Limitation of Engagement to the Company. 

 

The Company acknowledges that
FT Global has been retained only by the Company, that FT Global is providing services hereunder as an independent contractor (and not
in any fiduciary or agency capacity) and that the Company’s engagement of FT Global is not deemed to be on behalf of, and is not
intended to confer rights upon, any shareholder, owner or partner of the Company or any other person not a party hereto as against FT
Global or any of its affiliates, or any of its or their respective officers, directors, controlling persons (within the meaning of Section
15 of the Securities Act or Section 20 of the Exchange Act), employees or agents. Unless otherwise expressly agreed in writing by FT Global,
no one other than the Company is authorized to rely upon any statement or conduct of FT Global in connection with this Agreement. The
Company acknowledges that any recommendation or advice, written or oral, given by FT Global to the Company in connection with FT Global’s
engagement is intended solely for the benefit and use of the Company’s management and directors in considering a possible Offering,
and any such recommendation or advice is not on behalf of, and shall not confer any rights or remedies upon, any other person or be used
or relied upon for any other purpose. FT Global shall not have the authority to make any commitment binding on the Company. The Company,
in its sole discretion, shall have the right to reject any investor introduced to it by FT Global. If any purchase agreement and/or related
transaction documents are entered into between the Company and the investors in the Offering, FT Global will be entitled to rely on the
representations, warranties, agreements and covenants of the Company contained in any such purchase agreement and related transaction
documents as if such representations, warranties, agreements and covenants were made directly to FT Global by the Company.

 

		12.	Amendments and Waivers. 

 

No supplement, modification
or waiver of this Agreement shall be binding unless executed in writing by the party to be bound thereby. The failure of a party to exercise
any right or remedy shall not be deemed or constitute a waiver of such right or remedy in the future. No waiver of any of the provisions
of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (regardless of whether similar), nor shall
any such waiver be deemed or constitute a continuing waiver unless otherwise expressly provided.

 

		13.	Confidentiality.

 

In the event of the consummation
or public announcement of any Offering, FT Global shall have the right to disclose its participation in such Offering, including, without
limitation, the placement at its cost of “tombstone” advertisements in financial and other newspapers and journals. FT Global
agrees not to use any confidential information concerning the Company provided to FT Global by the Company for any purposes other than
those contemplated under this Agreement.

 

    12

     

    

 

		14.	Headings. 

 

The headings of the various
sections of this Agreement have been inserted for convenience of reference only and will not be deemed to be part of this Agreement.

 

		15.	Counterparts. 

 

This Agreement may be executed
in one or more counterparts and, if executed in more than one counterpart, the executed counterparts shall each be deemed to be an original
and all such counterparts shall together constitute one and the same instrument. The words “execution,” “signed”
and “signature” and words of like import in this Agreement and all documents relating thereto, shall (to the extent permissible
under governing documents) include images of manually executed signatures transmitted by facsimile or other electronic format (including,
without limitation, “pdf,” “tif” or “jpg”) and other electronic signatures (including, without limitation,
DocuSign and AdobeSign). The use of electronic signatures and electronic records (including, without limitation, any contract or other
record created, generated, sent, communicated, received or stored by electronic means) shall be of the same legal effect, validity and
enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable
law, including, without limitation, the Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures
and Records Act and any other applicable law.

 

		16.	Severability. 

 

The invalidity, illegality
or unenforceability of any section, paragraph or provision of this Agreement shall not affect the validity, legality or enforceability
of any other section, paragraph or provision hereof. If any Section, paragraph or provision of this Agreement is for any reason determined
to be invalid, illegal or unenforceable, there shall be deemed to be made such minor changes (and only such minor changes) as are necessary
to make it valid and enforceable.

 

		17.	Use of Information. 

 

The Company will furnish FT
Global such written information as FT Global reasonably requests in connection with the performance of its services hereunder. The Company
understands, acknowledges and agrees that, in performing its services hereunder, FT Global will use and rely entirely upon such information
as well as publicly available information regarding the Company and other potential parties to an Offering and that FT Global does not
assume responsibility for independent verification of the accuracy or completeness of any information, whether publicly available or otherwise
furnished to it, concerning the Company or otherwise relevant to an Offering, including, without limitation, any financial information,
forecasts or projections considered by FT Global in connection with the provision of its services.

 

		18.	Absence of Fiduciary Relationship. 

 

The Company acknowledges and
agrees that: (a) the Placement Agent has been retained solely to act as Placement Agent in connection with the sale of the Securities
and that no fiduciary, advisory or agency relationship between the Company and the Placement Agent has been created in respect of any
of the transactions contemplated by this Agreement, irrespective of whether the Placement Agent has advised or is advising the Company
on other matters; (b) the Purchase Price and other terms of the Securities set forth in this Agreement were established by the Company
following discussions and arms-length negotiations with the Investors and the Company is capable of evaluating and understanding and understands
and accepts the terms, risks and conditions of the transactions contemplated by this Agreement; (c) it has been advised that the Placement
Agent and its affiliates are engaged in a broad range of transactions that may involve interests that differ from those of the Company
and that the Placement Agent has no obligation to disclose such interest and transactions to the Company by virtue of any fiduciary, advisory
or agency relationship; and (d) it has been advised that the Placement Agent is acting, in respect of the transactions contemplated by
this Agreement, solely for the benefit of the Placement Agent, and not on behalf of the Company and that the Placement Agent may have
interests that differ from those of the Company. The Company waives to the full extent permitted by applicable law any claims it may have
against the Placement Agent arising from an alleged breach of fiduciary duty in connection with the Offering.

 

    13

     

    

 

		19.	Survival of Indemnities, Representations, Warranties, Etc. 

 

The respective indemnities,
covenants, agreements, representations, warranties and other statements of the Company and Placement Agent, as set forth in this Agreement
or made by them respectively, pursuant to this Agreement, shall remain in full force and effect, regardless of any investigation made
by or on behalf of the Placement Agent, the Company, the Purchasers or any person controlling any of them and shall survive delivery of
and payment for the Securities. Notwithstanding any termination of this Agreement, including without limitation any termination pursuant
to Section 5, the payment, reimbursement, indemnity, contribution and advancement agreements contained in Sections 2, 9, 10, and 11, respectively,
and the Company’s covenants, representations, and warranties set forth in this Agreement shall not terminate and shall remain in
full force and effect at all times. The indemnity and contribution provisions contained in Section 9 and the covenants, warranties and
representations of the Company contained in this Agreement shall remain operative and in full force and effect regardless of (i) any termination
of this Agreement, (ii) any investigation made by or on behalf of any of the Placement Agent, any person who controls the Placement Agent
within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or any affiliate of the Placement Agent,
or by or on behalf of the Company, its directors or officers or any person who controls the Company within the meaning of either Section
15 of the Securities Act or Section 20 of the Exchange Act, and (iii) the issuance and delivery of the Securities.

 

		20.	Governing Law; Service of Process. 

 

This Agreement shall be governed
by and construed in accordance with the laws of the State of New York applicable to agreements made and to be fully performed therein,
without regard to its choice of law provisions. Any disputes that arise under this Agreement, even after the termination of this Agreement,
will be heard only in the state or federal courts located in the City and County of New York, Borough of Manhattan. The parties hereto
expressly agree to submit themselves to the jurisdiction of the foregoing courts in the City and County of New York, Borough of Manhattan.
The parties hereto expressly waive any rights they may have to contest the jurisdiction, venue or authority of any court sitting in the
City and County of New York, Borough of Manhattan.

 

		21.	Notices. 

 

All communications hereunder
shall be in writing and shall be mailed or hand delivered and confirmed to the parties hereto as follows: 

 

If to the Company:

 

Color Star Technology Co. Ltd.

800 3rd Ave., Ste. 2800

New York, NY 10022

Attention: Chairman and CEO

 

If to the Placement Agent:

 

[  ]Attention: President

 

Any party hereto may change
the address for receipt of communications by giving written notice to the others. 

 

		22.	Miscellaneous. 

 

This Agreement constitutes
the entire agreement of FT Global and the Company, and supersedes any prior agreements, with respect to the subject matter hereof; provided
that notwithstanding anything to the contrary set forth herein, it is understood and agreed by the parties hereto that all other terms
and conditions of that certain engagement letter between the Company and Placement Agent dated as of March 25, 2021, shall remain in full
force and effect. 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, and the remainder of this Agreement shall remain in full force and effect.

 

		23.	Successors. 

 

This Agreement will inure
to the benefit of and be binding upon the parties hereto, and to the benefit of the employees, officers and directors and controlling
persons referred to in Section 9 hereof, and to their respective successors, and personal representative, and, except as set forth in
Section 9 of this Agreement, no other person will have any right or obligation hereunder. 

 

[SIGNATURE PAGE TO FOLLOW]

 

    14

     

    

 

In acknowledgment that the
foregoing correctly sets forth the understanding reached by FT Global and the Company, and intending to be legally bound, please sign
in the space provided below, whereupon this letter shall constitute a binding agreement as of the date executed.

 

	 	Very truly yours,
	 	 
	 	COLOR STAR TECHNOLOGY CO. LTD.
	 	 
	 	By:	 
	 	 	Name:  	Basil Wilson
	 	 	Title: 	Chief Executive Officer

 

	 	Confirmed as of the date first written above:
	 	 
	 	[  ]
	 	 	 
	 	By:	 
	 	 	Name:  	[  ]
	 	 	Title:	President/Officer 

 

    15

     

    

 

SCHEDULE I

 

Issuer General Use Free Writing
Prospectuses

 

None.

 

 

16EX-10.1

 Exhibit 10.1 

SYLVAMO CORPORATION 

2021 INCENTIVE COMPENSATION PLAN 

ARTICLE 1 
 PURPOSE

 1.1. GENERAL. The purpose of the Sylvamo Corporation 2021 Incentive Compensation Plan (the “Plan”) is to provide
incentive for non-employee directors and designated employees of Sylvamo Corporation, a Delaware corporation (the “Company”), or any Affiliate, to improve the performance of the Company on a
long-term basis, and to attract and retain certain persons in the employ of the Company. Accordingly, the Plan permits the grant of incentive awards from time to time to directors of the Company and selected designated employees of the Company and
its Affiliates. 
 ARTICLE 2 

DEFINITIONS 
 2.1.
DEFINITIONS. The following words and phrases shall have the following meanings: 
  

	(a)	 “Affiliate” means (i) any Subsidiary or Parent, or (ii) an entity that directly or
through one or more intermediaries controls, is controlled by or is under common control with, the Company, as determined by the Committee. 

  

	(b)	 “Award” means any Option, Stock Appreciation Right, Restricted Stock Award, Restricted Stock
Unit Award, Deferred Stock Unit Award, Dividend Equivalent Award, Other Stock-Based Award, or any other right or interest relating to Stock or cash, granted to a Participant under the Plan. 

 

	(c)	 “Award Certificate” means a written document, in such form as the Committee prescribes from
time to time, setting forth the terms and conditions of an Award. Award Certificates may be in the form of individual award agreements or certificates or a program document describing the terms and provisions of an Award or series of Awards under
the Plan. The Committee may provide for the use of electronic, internet or other non-paper Award Certificates. 

  

	(d)	 “Beneficial Owner” shall have the meaning given such term in Rule 13d-3 of the General Rules and Regulations under the Exchange Act. 

  

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

  

 

 
 1 

	(f)	 “Cause” as a reason for a Participant’s termination of employment shall have the meaning
assigned such term in the employment, severance or similar agreement, if any, between such Participant and the Company or an Affiliate, provided, however that if there is no such employment, severance or similar agreement in which such term is
defined, and unless otherwise defined in the applicable Award Certificate, “Cause” shall include but is not limited to misconduct or other activity detrimental to the business interest or reputation of the Company or continued
unsatisfactory job performance without making reasonable efforts to improve. Examples include insubordination, protracted or repeated absence from work without permission, illegal activity, disorderly conduct, etc. 

 

	(g)	 “Change in Control” means and includes the occurrence of any one of the following events:

 (1) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that
any “person” or “group” (as those terms are used in Section 13(d)(3) of the Exchange Act) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of the Company’s voting stock representing 30% or more of the voting power of the Company’s outstanding voting stock, provided, however,
that an employee of the Company or any of its subsidiaries for whom shares are held under an employee stock ownership, employee retirement, employee savings or similar plan and whose shares are voted in accordance with the instructions of such
employee shall not be a member of a “group”(as that term is used in Section 13(d)(3) of the Exchange Act) solely because such employee’s shares are held by a trustee under said plan; 

(2) during any period of two (2) consecutive years, individuals who at the beginning of such period constitute the Board of Directors of the Company
(the “Board”) cease for any reason to constitute at least a majority thereof, unless the election, or the nomination for election, by the Company’s shareowners of each new director was approved by a vote of at least two-thirds (2/3) of the directors then still in office who were directors at the beginning of the period; 
 (3) the
Company consolidates with, or merges with or into, any person, or any person consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the Company’s outstanding voting stock or voting
stock of such other person is converted into or exchanged for cash, securities or other property, other than any such transaction where the Company’s voting stock outstanding immediately prior to such transaction constitutes, or is converted
into or exchanged for, voting stock representing more than 50% of the voting power of the voting stock of the surviving person immediately after giving effect to such transaction; 

  

 

 
 2 

 (4) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of
merger or consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Company and its subsidiaries taken as a whole to any “person” or “group” (as those terms are used in
Section 13(d)(3) of the Exchange Act) other than to the Company or one of its subsidiaries; or 
 (5) the shareowners of the Company approve a
complete liquidation or dissolution of the Company. 
  

	(h)	 “Code” means the Internal Revenue Code of 1986, as amended from time to time. For purposes of
this Plan, references to sections of the Code shall be deemed to include references to any applicable regulations thereunder and any successor or similar provision. 

 

	(i)	 “Committee” means the Compensation Committee of the Board described in Article 4.

  

	(j)	 “Company” means Sylvamo Corporation, a Delaware corporation, or any successor corporation.

  

	(k)	 “Continuous Service” means the absence of any interruption or termination of service as an
employee, officer, or director of the Company or any Affiliate, as applicable; provided, however, that for purposes of an Incentive Stock Option “Continuous Service” means the absence of any interruption or termination of service as an
employee of the Company or any Parent or Subsidiary, as applicable, pursuant to applicable tax regulations. Continuous Service shall not be considered interrupted in the following cases: (i) a Participant transfers employment between the
Company and an Affiliate or between Affiliates, or (ii) in the discretion of the Committee as specified at or prior to such occurrence, in the case of a spin-off, sale or disposition of the
Participant’s employer from the Company or any Affiliate, (iii) a Participant transfers from being an employee of the Company or an Affiliate to being a director of the Company or of an Affiliate, or vice versa, or (iv) any leave of
absence authorized in writing by the Company prior to its commencement; provided, however, that for purposes of Incentive Stock Options, no such leave may exceed 90 days, unless reemployment upon expiration of such leave is guaranteed by statute or
contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, on the 91st day of such leave any Incentive Stock Option held by the Participant shall cease to be treated as an Incentive Stock Option and
shall be treated for tax purposes as a Non-qualified Stock Option. Whether military, government or other service or other leave of 

  

 

 
 3 

	 	
absence shall constitute a termination of Continuous Service shall be determined in each case by the Committee at its discretion, and any determination by the Committee shall be final and
conclusive; provided, however, that for purposes of any Award that is subject to Code Section 409A, the determination of a leave of absence must comply with the requirements of a “bona fide leave of absence” as provided in Treas. Reg.
Section 1.409A-1(h). 

  

	(l)	 “Deferred Stock Unit” means a right granted to a Participant under Article 9 to receive Shares
of Stock (or the equivalent value in cash or other property if the Committee so provides) at a future time as determined by the Committee, or as determined by the Participant within guidelines established by the Committee in the case of voluntary
deferral elections. 

  

	(m)	 “Disability” of a Participant means that the Participant (i) is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) is, by reason of
any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than
three months under an accident and health plan covering employees of the Participant’s employer. If the determination of Disability relates to an Incentive Stock Option, Disability means Permanent and Total Disability as defined in
Section 22(e)(3) of the Code. In the event of a dispute, the determination whether a Participant has incurred a Disability will be made by the Committee and may be supported by the advice of a physician competent in the area to which such
Disability relates. 

  

	(n)	 “Dividend Equivalent” means a right granted to a Participant under Article 11.

  

	(o)	 “Effective Date” has the meaning assigned such term in Section 3.1.

  

	(p)	 “Eligible Participant” means Non-Employee Directors
and designated employees of the Company or any Affiliate. 

  

	(q)	 “Exchange” means any national securities exchange on which the Stock may from time to time be
listed or traded. 

  

	(r)	 “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time.

  

 

 
 4 

	(s)	 “Fair Market Value,” on any date, means (i) if the Stock is listed on a securities
exchange, the closing stock price on such date (or, in the absence of reported sales on such date, on the immediately preceding date on which sales were reported), or (ii) if the Stock is not listed on a securities exchange, the mean between
the bid and offered prices as quoted by the applicable interdealer quotation system for such date, provided that if the Stock is not quoted on an interdealer quotation system or if it is determined that the fair market value is not properly
reflected by such quotations, Fair Market Value will be determined by such other method as the Committee determines in good faith to be reasonable and in compliance with Code Section 409A. 

 

	(t)	 “Full-Value Award” means an Award other than in the form of an
Option or SAR, and which is settled by the issuance of Stock (or at the discretion of the Committee, settled in cash valued by reference to Stock value). 

  

	(u)	 “Good Reason” (or a similar term denoting constructive termination) has the meaning, if any,
assigned such term in the employment, severance or similar agreement, if any, between a Participant and the Company or an Affiliate, provided, however that if there is no such employment, severance or similar agreement in which such term is defined,
“Good Reason” shall have the meaning, if any, given such term in the applicable Award Certificate. If not defined in any such document, the term “Good Reason” as used herein shall not apply to a particular Award.

  

	(v)	 “Grant Date” of an Award means the first date on which all necessary corporate action has been
taken to approve the grant of the Award as provided in the Plan, or such later date as is determined and specified as part of that authorization process. Notice of the grant shall be provided to the grantee within a reasonable time after the Grant
Date. 

  

	(w)	 “Incentive Stock Option” means an Option that is intended to be an incentive stock option and
meets the requirements of Section 422 of the Code or any successor provision thereto. 

  

	(x)	 “Independent Directors” means those members of the Board of Directors who qualify at any given
time as “independent” directors under the applicable rules of each Exchange on which the Shares are listed, and “non-employee” directors under Rule
16b-3 of the Exchange Act. 

  

 

 
 5 

	(y)	 “Non-Employee Director” means a director of the
Company who is not a common law employee of the Company or an Affiliate. 

  

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

  

	(aa)	 “Non-Segmented Performance Award” means a Performance
Award that is not a Segmented Performance Award. 

  

	(ab)	 “Option” means a right granted to a Participant under Article 7 of the Plan to purchase Stock
at a specified price during specified time periods. An Option may be either an Incentive Stock Option or a Non-qualified Stock Option. 

 

	(ac)	 “Other Stock-Based Award” means a right granted to a Participant under Article 12 that relates
to or is valued by reference to Stock or other Awards relating to Stock. 

  

	(ad)	 “Parent” means a corporation, limited liability company, partnership or other entity which
owns or beneficially owns a majority of the outstanding voting stock or voting power of the Company. Notwithstanding the above, with respect to an Incentive Stock Option, Parent shall have the meaning set forth in Section 424(e) of the Code.

  

	(ae)	 “Participant” means an Eligible Participant who has been granted an Award under the Plan;
provided that in the case of the death of a Participant, the term “Participant” refers to a beneficiary designated pursuant to Section 13.4 or the legal guardian or other legal representative acting in a fiduciary capacity on behalf
of the Participant under applicable state law and court supervision. 

  

	(af)	 “Performance Award” means any award granted under the Plan pursuant to Article 10.

  

	(ag)	 “Person” means any individual, entity or group, within the meaning of Section 3(a)(9) of
the Exchange Act and as used in Section 13(d)(3) or 14(d)(2) of the Exchange Act. 

  

	(ah)	 “Plan” means the Sylvamo Corporation 2021 Incentive Compensation Plan, as it may be amended
from time to time. 

  

	(ai)	 “Restricted Stock Award” means Stock granted to a Participant under Article 9 that is subject
to certain restrictions and to risk of forfeiture. 

  

 

 
 6 

	(aj)	 “Restricted Stock Unit Award” means the right granted to a Participant under Article 9 to
receive shares of Stock (or the equivalent value in cash or other property if the Committee so provides) in the future, which right is subject to certain restrictions and to risk of forfeiture. 

 

	(ak)	 “Retirement” means a Participant’s termination of employment with the Company or an
Affiliate after reaching at least age 55 with 10 years of service, age 61 with 20 years of service, age 62 with 10 years of service, or age 65; for purposes of determining whether any service requirement under this definition are satisfied, any
continuous service (as defined in the International Paper Company Amended and Restated 2009 Incentive Compensation Plan) with International Paper Company through the date of the spin-off of Sylvamo Corporation
from International Paper Company shall be included and count towards satisfaction of such service requirement. In the case of a Participant who is a Non-Employee Director, “Retirement” means
retirement from the Board after reaching the age specified for mandatory retirement from the Board. 

  

	(al)	 “Securities Act” means the Securities Act of 1933, as amended from time to time.

  

	(am)	 “Segmented Performance Award” means a Performance Award that provides for two or more segments
within an overall performance period and in which performance achievement is measured separately for each individual segment and a portion of the award is deemed earned and “banked” pending the final assessment of performance over the full
performance period. 

  

	(an)	 “Shares” means shares of the Company’s Stock. If there has been an adjustment or
substitution with respect to the Shares (whether or not pursuant to Article 14), the term “Shares” shall also include any shares of stock or other securities that are substituted for Shares or into which Shares are adjusted.

  

	(ao)	 “Stock” means the $1.00 par value common stock of the Company and such other securities of the
Company as may be substituted for Stock pursuant to Article 14. 

  

	(ap)	 “Stock Appreciation Right” or “SAR” means a right granted to a Participant
under Article 8 to receive a payment equal to the difference between the Fair Market Value of a Share as of the date of exercise of the SAR over the base price of the SAR, all as determined pursuant to Article 8. 

  

 

 
 7 

	(aq)	 “Subsidiary” means any corporation, limited liability company, partnership or other entity of
which 50% or more of the outstanding voting stock or voting power is beneficially owned directly or indirectly by the Company. Notwithstanding the above, with respect to an Incentive Stock Option, Subsidiary shall have the meaning set forth in
Section 424(f) of the Code. 

  

	(ar)	 “Surviving Entity” means the entity resulting from a Change in Control (including, without
limitation, an entity which as a result of such transaction owns the Company or all or substantially all of the Company’s assets or stock either directly or through one or more subsidiaries). 

ARTICLE 3 
 EFFECTIVE
TERM OF PLAN 
 3.1. EFFECTIVE DATE. The Plan shall be effective as of October 1, 2021 (the “Effective Date”).

 3.2. TERMINATION OF PLAN. Unless earlier terminated as provided herein, the Plan shall continue in effect until the date of the
2031 annual shareowners’ meeting or, if the shareowners approve an amendment to the Plan that increases the number of Shares subject to the Plan, the tenth anniversary of the date of such approval. The termination of the Plan shall not affect
the validity of any Award outstanding on the date of termination, which shall continue to be governed by the applicable terms and conditions of this Plan. Notwithstanding the foregoing, no Incentive Stock Options may be granted more than ten
(10) years after the the Effective Date. 

  

 

 
 8 

 ARTICLE 4 

ADMINISTRATION 
 4.1.
COMMITTEE. The Plan shall be administered by a Committee appointed by the Board (which Committee shall consist of at least two directors) or, at the discretion of the Board from time to time, the Plan may be administered by the Board. Unless
and until changed by the Board, the Compensation Committee of the Board is designated as the Committee to administer the Plan. It is intended that the Committee be composed solely of two or more Independent Directors and that any such members of the
Committee who do not so qualify shall abstain from participating in any decision to make or administer Awards that are made to Eligible Participants who at the time of consideration for such Award are persons subject to the short-swing profit rules
of Section 16 of the Exchange Act. However, a Committee member’s failure to qualify as an Independent Director or failure to abstain from such action shall not invalidate any Award made by the Committee which Award is otherwise validly
made under the Plan. The members of the Committee shall be appointed by, and may be changed at any time and from time to time in the discretion of, the Board. The Board may reserve to itself any or all of the authority and responsibility of the
Committee under the Plan or may act as administrator of the Plan for any and all purposes. To the extent the Board has reserved any authority and responsibility or during any time that the Board is acting as administrator of the Plan, it shall have
all the powers and protections of the Committee hereunder, and any reference herein to the Committee (other than in this Section 4.1) shall include the Board. To the extent any action of the Board under the Plan conflicts with actions taken by
the Committee, the actions of the Board shall control. 
 4.2. ACTION AND INTERPRETATIONS BY THE COMMITTEE. For purposes of
administering the Plan, the Committee may from time to time adopt rules, regulations, guidelines and procedures for carrying out the provisions and purposes of the Plan and make such other determinations, not inconsistent with the Plan, as the
Committee may deem appropriate. The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award in the manner and to the extent it deems necessary to carry out the intent of the Plan. The
Committee’s interpretation of the Plan, any Awards granted under the Plan, any Award Certificate and all decisions and determinations by the Committee with respect to the Plan are final, binding, and conclusive on all parties. Each member of
the Committee is entitled to, in good faith, rely or act upon any report or other information furnished to that member by any officer or other employee of the Company or any Affiliate, the Company’s or an Affiliate’s independent certified
public accountants, Company counsel or any executive compensation consultant or other professional retained by the Company to assist in the administration of the Plan. No member of the Committee will be liable for any good faith determination, act
or omission in connection with the Plan or any Award. 

  

 

 
 9 

 4.3. AUTHORITY OF COMMITTEE. Except as provided in Section 4.1 hereof, the
Committee has the exclusive power, authority and discretion to: 
  

	(a)	 Grant Awards; 

  

	(b)	 Delegate the granting Awards as specified in Section 4.4; 

 

	(c)	 Designate Participants; 

 

	(d)	 Determine the type or types of Awards to be granted to each Participant; 

 

	(e)	 Determine the number of Awards to be granted and the number of Shares or dollar amount to which an Award will
relate; 

  

	(f)	 Determine the terms and conditions of any Award granted under the Plan; 

 

	(g)	 Prescribe the form of each Award Certificate, which need not be identical for each Participant;

  

	(h)	 Decide all other matters that must be determined in connection with an Award; 

 

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

  

	(j)	 Make all other decisions and determinations that may be required under the Plan or as the Committee deems
necessary or advisable to administer the Plan; 

  

	(k)	 Amend the Plan or any Award Certificate as provided herein; and 

 

	(l)	 Adopt such modifications, procedures, and subplans as may be necessary or desirable to comply with provisions
of the laws of the United States or any non-U.S. jurisdictions in which the Company or any Affiliate may operate, in order to assure the viability of the benefits of Awards granted to participants located in
the United States or such other jurisdictions and to meet the objectives of the Plan. 

 Notwithstanding the foregoing,
grants of Awards to Non-Employee Directors hereunder shall be made only in accordance with the terms, conditions and parameters of a plan, program or policy for the compensation of Non-Employee Directors as in effect from time to time that is approved and administered by a committee of the Board consisting solely of Independent Directors, and the Committee may not make other discretionary
grants hereunder to Non-Employee Directors. 
 4.4. DELEGATION. 

 

	(a)	 Administrative Duties. The Committee may delegate to one or more of its members or to one or more
officers of the Company or an Affiliate or to one or more agents or advisors such administrative duties or powers as it may deem advisable, and the Committee or any individuals to whom it has delegated duties or powers as aforesaid may employ one or
more individuals to render advice with respect to any responsibility the Committee or such individuals may have under this Plan. 

  

 

 
 10 

 (b) Special Committee. The Board may, by resolution, expressly delegate to a special committee,
consisting of one or more directors who may but need not be officers of the Company, the authority, within specified parameters as to the number and terms of Awards, to (i) designate employees of the Company or any of its Affiliates to be
recipients of Awards under the Plan, and (ii) to determine the number of such Awards to be received by any such Participants; provided, however, that such delegation of duties and responsibilities to an officer of the Company may not be made
with respect to the grant of Awards to eligible participants who are subject to Section 16(a) of the Exchange Act at the Grant Date. The acts of such delegates shall be treated hereunder as acts of the Board and such delegates shall report
regularly to the Board and the Committee regarding the delegated duties and responsibilities and any Awards so granted. 
 (c) Other Delegation. The
Board may, by resolution, expressly delegate to the Senior Vice President & Chief People Officer the authority, within specified parameters as to the number and terms of Awards, to (i) designate employees of the Company or any of its
Affiliates to be recipients of Awards under the Plan, and (ii) to determine the number of such Awards to be received by any such Participants; provided, however, that such delegation of duties and responsibilities may not be made with respect
to the grant of Awards to eligible participants who are Senior Vice President of the Company and above. The acts of such delegate shall be treated hereunder as acts of the Board and such delegate shall report regularly to the Committee regarding the
delegated duties and responsibilities and any Awards so granted. 
 ARTICLE 5 

SHARES SUBJECT TO THE PLAN 

5.1. NUMBER OF SHARES. Subject to adjustment as provided in Sections 5.2 and 14.1, the aggregate number of Shares reserved and
available for issuance pursuant to Awards granted under the Plan shall be 4,410,725. The maximum number of Shares that may be issued upon exercise of Incentive Stock Options granted under the Plan shall be 4,410,725. 

5.2. SHARE COUNTING. Shares covered by an Award shall be subtracted from the Plan share reserve as of the Grant Date, but shall be
added back to the Plan share reserve in accordance with this Section 5.2. 
  

	(a)	 To the extent that an Award is canceled, terminates, expires, is forfeited or lapses for any reason, any
unissued or forfeited Shares subject to the Award shall be added back to the Plan share reserve and again be available for issuance pursuant to Awards granted under the Plan. 

  

 

 
 11 

	(b)	 Shares subject to Awards settled in cash shall be added back to the Plan share reserve and again be available
for issuance pursuant to Awards granted under the Plan. 

  

	(c)	 Shares withheld from an Award or delivered by a Participant to satisfy minimum tax withholding requirements
shall be added back to the Plan share reserve and again be available for issuance pursuant to Awards granted under the Plan. 

  

	(d)	 If the exercise price of an Option is satisfied by delivering Shares to the Company (by either actual delivery
or attestation), only the number of Shares issued to the Participant in excess of the Shares tendered (by delivery or attestation) shall be debited from the number of Shares remaining available for issuance pursuant to Awards granted under the Plan.

  

	(e)	 To the extent that the full number of Shares subject to an Option or SAR is not issued upon exercise of the
Option or SAR for any reason, including by reason of net-settlement of the Award, only the number of Shares issued and delivered upon exercise of the Option or SAR shall be considered for purposes of
determining the number of Shares remaining available for issuance pursuant to Awards granted under the Plan. 

  

	(f)	 To the extent that the full number of Shares subject to a Performance Award is not issued by reason of failure
to achieve maximum performance goals, the unissued Shares originally subject to the Performance Award will be added back to the Plan share reserve and again be available for issuance pursuant to Awards granted under the Plan. 

 

	(g)	 Substitute Awards granted pursuant to Section 13.11 shall not count against the Shares otherwise available
for issuance under the Plan under Section 5.1. 

  

	(h)	 Subject to applicable Exchange requirements, shares available under a shareowner-approved plan of a company
acquired by the Company (as appropriately adjusted to Shares to reflect the transaction) may be issued under the Plan pursuant to Awards granted to individuals who were not employees of the Company or its Affiliates immediately before such
transaction and will not count against the maximum share limitation specified in Section 5.1. 

 5.3. STOCK
DISTRIBUTED. Any Stock distributed pursuant to an Award may consist, in whole or in part, of authorized and unissued Stock, treasury Stock or Stock purchased on the open market. 

  

 

 
 12 

 ARTICLE 6 

ELIGIBILITY 
 6.1.
GENERAL. Awards may be granted only to Eligible Participants. Eligible Participants who are service providers to an Affiliate may be granted Options or SARs under this Plan only if the Affiliate qualifies as an “eligible issuer of
service recipient stock” within the meaning of §1.409A-1(b)(5)(iii)(E) of the final regulations under Code Section 409A. 

ARTICLE 7 
 STOCK OPTIONS

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

 

	(a)	 Exercise Price. The exercise price per Share under an Option shall be determined by the Committee,
provided that the exercise price for any Option (other than an Option issued as a substitute Award pursuant to Section 13.11) shall not be less than the Fair Market Value as of the Grant Date. 

 

	(b)	 Prohibition on Repricing. Except as otherwise provided in Section 14.1, the exercise price of an
Option may not be reduced, directly or indirectly by cancellation and regrant or otherwise, without the prior approval of the shareowners of the Company. 

  

	(c)	 Time and Conditions of Exercise. The Committee shall determine the time or times at which an Option may
be exercised in whole or in part, subject to Section 7.1(e). The Committee shall also determine the performance or other conditions, if any, that must be satisfied before all or part of an Option may be exercised or vested.

  

	(d)	 Payment. The Committee shall determine the methods by which the exercise price of an Option may be paid,
the form of payment, and the methods by which Shares shall be delivered or deemed to be delivered to Participants. As determined by the Committee at or after the Grant Date, payment of the exercise price of an Option may be made, in whole or in
part, in the form of (i) cash or cash equivalents, (ii) delivery (by either actual delivery or attestation) of previously-acquired Shares based on the Fair Market Value of the Shares on the date the Option is exercised,
(iii) withholding of Shares from the Option based on the Fair Market Value of the Shares on the date the Option is exercised, (iv) broker-assisted market sales, or (iv) any other “cashless exercise” arrangement.

  

 

 
 13 

	(e)	 Exercise Term. Except for Non-qualified Stock Options granted to
Participants outside the United States, no Option granted under the Plan shall be exercisable for more than ten years from the Grant Date. 

  

	(f)	 No Deferral Feature. No Option shall provide for any feature for the deferral of compensation other than
the deferral of recognition of income until the exercise or disposition of the Option. 

  

	(g)	 No Dividend Equivalents. No Option shall provide for Dividend Equivalents. 

7.2. INCENTIVE STOCK OPTIONS. Incentive Stock Options may be granted to only to Eligible Participants who are employees of the Company
or a Parent or Subsidiary as defined in Section 424(e) and (f) of the Code. The terms of any Incentive Stock Options granted under the Plan must comply with the requirements of Section 422 of the Code. If all of the requirements of
Section 422 of the Code are not met, the Option shall automatically become a Non-qualified Stock Option. 

ARTICLE 8 
 STOCK
APPRECIATION RIGHTS 
 8.1. GRANT OF STOCK APPRECIATION RIGHTS. The Committee is authorized to grant Stock Appreciation Rights
(“SARs”) to Participants on the following terms and conditions: 
  

	(a)	 Right to Payment. Upon the exercise of a SAR, the Participant to whom it is granted has the right to
receive, for each Share with respect to which the SAR is being exercised, the excess, if any, of: 

 (1) The Fair Market Value of one
Share on the date of exercise; over 
 (2) The base price of the SAR as determined by the Committee and set forth in the Award Certificate, which shall not
be less than the Fair Market Value of one Share on the Grant Date. 
  

	(b)	 Prohibition on Repricing. Except as otherwise provided in Section 14.1, the base price of a SAR may
not be reduced, directly or indirectly by cancellation and regrant or otherwise, without the prior approval of the shareowners of the Company. 

  

	(c)	 Time and Conditions of Exercise. Except for SARs granted to Participants outside the United States, no
SAR shall be exercisable for more than ten years from the Grant Date. 

  

 

 
 14 

	(d)	 No Deferral Feature. No SAR shall provide for any feature for the deferral of compensation other than
the deferral of recognition of income until the exercise or disposition of the SAR. 

  

	(e)	 No Dividend Equivalents. No SAR shall provide for Dividend Equivalents. 

 

	(f)	 Other Terms. All SARs shall be evidenced by an Award Certificate. Subject to the limitations of this
Article 8, the terms, methods of exercise, methods of settlement, form of consideration payable in settlement, and any other terms and conditions of any SAR shall be determined by the Committee at the time of the grant of the Award and shall be
reflected in the Award Certificate. 

 ARTICLE 9 

RESTRICTED STOCK, RESTRICTED STOCK UNITS 

AND DEFERRED STOCK UNITS 

9.1. GRANT OF RESTRICTED STOCK, RESTRICTED STOCK UNITS AND DEFERRED STOCK UNITS. The Committee is authorized to make Awards of
Restricted Stock, Restricted Stock Units or Deferred Stock Units to Participants in such amounts and subject to such terms and conditions as may be selected by the Committee. An Award of Restricted Stock, Restricted Stock Units or Deferred Stock
Units shall be evidenced by an Award Certificate setting forth the terms, conditions, and restrictions applicable to the Award. 
 9.2.
ISSUANCE AND RESTRICTIONS. Restricted Stock, Restricted Stock Units or Deferred Stock Units shall be subject to such restrictions on transferability and other restrictions as the Committee may impose (including, without limitation,
limitations on the right to vote Restricted Stock or the right to receive dividends on the Restricted Stock). These restrictions may lapse separately or in combination at such times, under such circumstances, in such installments, upon the
satisfaction of performance goals or otherwise, as the Committee determines at the time of the grant of the Award or thereafter. Except as otherwise provided in an Award Certificate or any special Plan document governing an Award, the Participant
shall have all of the rights of a shareowner with respect to the Restricted Stock, and the Participant shall have none of the rights of a shareowner with respect to Restricted Stock Units or Deferred Stock Units until such time as Shares of Stock
are paid in settlement of the Restricted Stock Units or Deferred Stock Units. Unless otherwise provided in the applicable Award Certificate, Awards of Restricted Stock will be entitled to full dividend rights and any dividends paid thereon will be
paid or distributed to the holder no later than the end of the calendar year in which the dividends are paid to shareowners or, if later, the 15th day of the third month following the date the dividends are paid to shareowners. 

  

 

 
 15 

 9.3. FORFEITURE. Subject to the terms of the Award Certificate and except as
otherwise determined by the Committee at the time of the grant of the Award or thereafter, upon termination of Continuous Service during the applicable restriction period or upon failure to satisfy a performance goal during the applicable
restriction period, Restricted Stock, Restricted Stock Units or Deferred Stock Units that are at that time subject to restrictions shall be forfeited. 

9.4. DELIVERY OF RESTRICTED STOCK. Shares of Restricted Stock shall be delivered to the Participant on the Grant Date either by
book-entry registration or by delivering to the Participant, or a custodian or escrow agent (including, without limitation, the Company or one or more of its employees) designated by the Committee, a stock certificate or certificates registered in
the name of the Participant. If physical certificates representing shares of Restricted Stock are registered in the name of the Participant, such certificates must bear an appropriate legend referring to the terms, conditions, and restrictions
applicable to such Restricted Stock. 
 ARTICLE 10 

PERFORMANCE AWARDS 
 10.1.
GRANT OF PERFORMANCE AWARDS. The Committee is authorized to grant any Award under this Plan, including cash-settled Awards, with performance-based vesting criteria, on such terms and conditions as may be selected by the Committee. Any such
Awards with performance-based vesting criteria are referred to herein as Performance Awards. The Committee shall have the complete discretion to determine the number of Performance Awards granted to each Participant, subject to Section 5.4, and
to designate the provisions of such Performance Awards as provided in Section 4.3. All Performance Awards shall be evidenced by an Award Certificate or a written program established by the Committee, pursuant to which Performance Awards are
awarded under the Plan under uniform terms, conditions and restrictions set forth in such written program. All Dividend Equivalents credited on Performance Shares during a performance period shall be reinvested in additional Performance Shares,
which shall be allocated to the same performance period and shall be subject to being earned by the Participant on the same basis as the original Award. Once a Performance Award has been settled in Stock, any dividends on such Shares shall be paid
in the same form and at the same time as to other shareowners. 
 10.2. PERFORMANCE GOALS. The Committee may establish performance
goals for Performance Awards which may be based on any criteria selected by the Committee. Such performance goals may be described in terms of Company-wide objectives or in terms of objectives that relate to the performance of the Participant, an
Affiliate or a division, region, department or function within the Company or an Affiliate. Such performance measures may include, but are not limited to: 
  

	(a)	 Revenue 

  

 

 
 16 

	(b)	 Sales 

  

	(c)	 Profit (net profit, gross profit, operating profit, economic profit, profit margins or other corporate profit
measures) 

  

	(d)	 Earnings (EBIT, EBITDA, earnings per share, or other corporate earnings measures) 

 

	(e)	 Net income (before or after taxes, operating income or other income measures) 

 

	(f)	 Cash (cash flow, cash generation or other cash measures) 

 

	(g)	 Stock price or performance 

 

	(h)	 Total shareholder return (stock price appreciation plus reinvested dividends divided by beginning share price)

  

	(i)	 Economic value added 

 

	(j)	 Return measures (including, but not limited to, return on assets, income, capital, equity, investments or
sales, and cash flow return on assets, capital, equity, or sales); 

  

	(k)	 Market share 

  

	(l)	 Improvements in capital structure 

 

	(m)	 Expenses (expense management, expense ratio, expense efficiency ratios or other expense measures)

  

	(n)	 Business expansion or consolidation (acquisitions and divestitures) 

 

	(o)	 Internal rate of return or increase in net present value 

 

	(p)	 Working capital targets relating to inventory and/or accounts receivable 

 

	(q)	 Safety standards 

  

	(r)	 Productivity measures 

 

	(s)	 Cost reduction measures 

 

	(t)	 Strategic plan development and implementation 

If the Committee determines that events or circumstances render the performance goals to be unsuitable, the Committee may modify such
performance goals in whole or in part, as the Committee deems appropriate. If a Participant is promoted, demoted or transferred to a different business unit or function during a performance period, the Committee may determine that the performance
goals or performance period are no longer appropriate and may (i) adjust, change or eliminate the performance goals or the applicable performance period as it deems appropriate to make such goals and period comparable to the initial goals and
period, or (ii) make a cash payment to the participant in an amount determined by the Committee. 

  

 

 
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 ARTICLE 11 

DIVIDEND EQUIVALENTS 

11.1. GRANT OF DIVIDEND EQUIVALENTS. The Committee is authorized to grant Dividend Equivalents with respect to Full-Value Awards
granted hereunder, subject to such terms and conditions as may be selected by the Committee. Dividend Equivalents shall entitle the Participant to receive payments equal to ordinary cash dividends or distributions with respect to all or a portion of
the number of Shares subject to a Full-Value Award, as determined by the Committee. Dividend Equivalents will be accrued and only vest and be payable to a Participant if and to the extent that any Shares underlying such Full-Value Award with which
respect to the Dividend Equivalent was granted actually vest and become payable. 
 ARTICLE 12 

STOCK OR OTHER STOCK-BASED AWARDS 

12.1. GRANT OF STOCK OR OTHER STOCK-BASED AWARDS. The Committee is authorized, subject to limitations under applicable law, to grant to
Participants such other Awards that are payable in, valued in whole or in part by reference to, or otherwise based on or related to Shares, as deemed by the Committee to be consistent with the purposes of the Plan, including without limitation
Shares awarded purely as a “bonus” and not subject to any restrictions or conditions, convertible or exchangeable debt securities, other rights convertible or exchangeable into Shares, and Awards valued by reference to book value of Shares
or the value of securities of or the performance of specified Parents or Subsidiaries. The Committee shall determine the terms and conditions of such Awards. 

ARTICLE 13 
 PROVISIONS
APPLICABLE TO AWARDS 
 13.1. AWARD CERTIFICATES. Each Award shall be evidenced by an Award Certificate. Each Award Certificate
shall include such provisions, not inconsistent with the Plan, as may be specified by the Committee. 
 13.2. FORM OF PAYMENT FOR
AWARDS. At the discretion of the Committee, payment of Awards may be made in cash, Stock, a combination of cash and Stock, or any other form of property as the Committee shall determine. In addition, payment of Awards may include such terms,
conditions, restrictions and/or limitations, if any, as the Committee deems appropriate, including, in the case of Awards paid in the form of Stock, restrictions on transfer and forfeiture provisions. Further, payment of Awards may be made in the
form of a lump sum, or in installments, as determined by the Committee. 
 13.3. LIMITS ON TRANSFER. No right or interest of a
Participant in any unexercised or restricted Award may be pledged, encumbered, or hypothecated to or in favor of any party other than the Company or an Affiliate, or shall be subject to any lien, 

  

 

 
 18 

 
obligation, or liability of such Participant to any other party other than the Company or an Affiliate. No unexercised or restricted Award shall be assignable or transferable by a Participant
other than by will or the laws of descent and distribution or, except in the case of an Incentive Stock Option, pursuant to a domestic relations order that would satisfy Section 414(p)(1)(A) of the Code if such Section applied to an Award under
the Plan; provided, however, that the Committee may (but need not) permit other transfers (other than transfers for value) where the Committee concludes that such transferability (i) does not result in accelerated taxation, (ii) does not
cause any Option intended to be an Incentive Stock Option to fail to be described in Code Section 422(b), and (iii) is otherwise appropriate and desirable, taking into account any factors deemed relevant, including without limitation,
state or federal tax or securities laws applicable to transferable Awards. 
 13.4. BENEFICIARIES. Notwithstanding Section 13.3,
a Participant may, in the manner determined by the Committee, designate a beneficiary to exercise the rights of the Participant and to receive any distribution with respect to any Award upon the Participant’s death. A beneficiary, legal
guardian, legal representative, or other person claiming any rights under the Plan is subject to all terms and conditions of the Plan and any Award Certificate applicable to the Participant, except to the extent the Plan and Award Certificate
otherwise provide, and to any additional restrictions deemed necessary or appropriate by the Committee. If no beneficiary has been designated or survives the Participant, any payment due to the Participant shall be made to the Participant’s
estate. Subject to the foregoing, a beneficiary designation may be changed or revoked by a Participant at any time provided the change or revocation is filed with the Company. 

13.5. STOCK TRADING RESTRICTIONS. All Stock issuable under the Plan is subject to any stop-transfer orders and other restrictions as
the Committee deems necessary or advisable to comply with federal or state securities laws, rules and regulations and the rules of any national securities exchange or automated quotation system on which the Stock is listed, quoted, or traded. The
Committee may place legends on any Stock certificate or issue instructions to the transfer agent to reference restrictions applicable to the Stock. 

13.6. TREATMENT UPON DEATH OR DISABILITY. Except as otherwise provided in the Award Certificate or any special Plan document governing
an Award, upon the termination of a person’s Continuous Service by reason of death or Disability: 
  

	(a)	 all of that Participant’s outstanding Options and SARs shall become fully exercisable, and shall
thereafter remain exercisable for a period of one (1) year or until the earlier expiration of the original term of the Option or SAR; 

  

	(b)	 all time-based vesting restrictions on that Participant’s outstanding Awards shall lapse as of the date of
termination; and 

  

	(c)	 the payout opportunities attainable under all of that Participant’s outstanding Performance Awards shall
be prorated based upon the number of months employed during each measurement period and shall be paid at the end of the Award period based on actual Company performance. 

  

 

 
 19 

 To the extent that this provision causes Incentive Stock Options to exceed the dollar
limitation set forth in Code Section 422(d), the excess Options shall be deemed to be Non-qualified Stock Options. 

13.7. TREATMENT UPON RETIREMENT. Except as otherwise provided in the Award Certificate or any special Plan document governing an Award,
upon the termination of a person’s Continuous Service by reason of his or her Retirement: 
  

	(a)	 that Participant’s outstanding Options and SARs shall become exercisable on a pro-rated basis (based upon the number of months employed during the applicable vesting period), and shall thereafter remain exercisable for a period of one (1) year or until the earlier expiration of the
original term of the Option or SAR; 

  

	(b)	 time-based vesting restrictions on that Participant’s outstanding Awards shall lapse in a pro-rated basis (based upon the number of months employed during the applicable vesting period); and 

  

	(c)	 the payout opportunities attainable under all of that Participant’s outstanding Performance Awards shall
be prorated based upon the number of months employed during each measurement period and shall be paid at the end of the Award period based on actual Company performance. 

To the extent that this provision causes Incentive Stock Options to exceed the dollar limitation set forth in Code Section 422(d), the
excess Options shall be deemed to be Non-qualified Stock Options. 
 13.8. EFFECT OF A CHANGE IN
CONTROL. The provisions of this Section 13.8 shall apply in the case of a Change in Control, unless otherwise provided in the Award Certificate or any special Plan document or separate agreement with a Participant governing an Award.

  

	(a)	 Awards Assumed or Substituted by Surviving Entity. With respect to Awards assumed by the Surviving
Entity or otherwise equitably converted or substituted in connection with a Change in Control in a manner approved by the Committee or the Board: if within two years after the effective date of the Change in Control, a Participant’s employment
is terminated without Cause or the Participant resigns for Good Reason, then 

  

	(i)	 all of that Participant’s outstanding Options or SARs shall become fully vested and exercisable as of the
employment termination date and shall thereafter continue or lapse in accordance with the other provisions of the Plan and the Award Certificate; 

  

 

 
 20 

	(ii)	 all time-based vesting restrictions on that Participant’s outstanding Awards shall lapse as of the
employment termination date; and 

  

	(iii)	 the level of performance achievement under all of that Participant’s Performance Awards that were
outstanding immediately prior to effective time of the Change in Control shall be calculated as follows: 

 (A) Segmented Performance
Awards: 
  

	1.	 The portion of the Award that had been “banked” prior to the employment termination date based on the
assessment of performance for a completed segment shall be fully vested as of the employment termination date; and 

  

	2.	 The portion of the Award that relates to any segment that had not been completed, or for which performance had
not been assessed, prior to the employment termination date shall vest as of the employment termination date based on the assumed achievement of performance at the “target” level. 

 

	3.	 In either such case, the vested portion of the Award shall be paid within sixty (60) days following the
employment termination date (unless a later date is required by Section 16.4 hereof). 

 (B)
Non-Segmented Performance Awards: 
  

	1.	 Where less than one year had elapsed between the beginning of the applicable performance period and the
employment termination date, a Non-Segmented Performance Award shall vest as of the employment termination date based on the assumed achievement of performance at the “target” level; and

  

	2.	 Where one year or more has elapsed between the beginning of the applicable performance period and the
employment termination date, a Non-Segmented Award shall vest based upon the level of actual Company performance measured through the end of the year immediately preceding the employment termination date.

  

	3.	 In either such case, the vested portion of the Award shall be paid within sixty (60) days following the
employment termination date (unless a later date is required by Section 16.4 hereof). 

  

 

 
 21 

	(b)	 Awards not Assumed or Substituted by Surviving Entity. Upon the occurrence of a Change in Control, and
except with respect to any Awards assumed by the Surviving Entity or otherwise equitably converted or substituted in connection with the Change in Control in a manner approved by the Committee or the Board: 

 

	(i)	 outstanding Options or SARs shall become fully vested and exercisable as of the date of the Change in Control
and shall thereafter continue or lapse in accordance with the other provisions of the Plan and the Award Certificate; 

  

	(ii)	 time-based vesting restrictions on outstanding Awards shall lapse as of the date of the Change in Control; and

  

	(iii)	 the level of performance achievement under outstanding Performance Awards shall be calculated as follows:

 (A) Segmented Performance Awards: 
  

	1.	 The portion of the Award that had been “banked” prior to the Change in Control based on the
assessment of performance for a completed segment shall be fully vested as of the date of the Change in Control; and 

  

	2.	 The portion of the Award that relates to any segment that had not been completed, or for which performance had
not been assessed, prior to the Change in Control shall vest as of the date of the Change in Control based on the assumed achievement of performance at the “target” level. 

 

	3.	 In either such case, the vested portion of the Award shall be paid within sixty (60) days following the
Change in Control (unless a later date is required by Section 16.4 hereof). 

 (B)
Non-Segmented Performance Awards: 
  

	1.	 Where less than one year has elapsed between the beginning of the applicable performance period and the Change
in Control, a Non-Segmented Performance Award shall vest as of the date of the Change in Control based on the assumed achievement of performance at the “target” level; and 

  

 

 
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	2.	 Where one year or more has elapsed between the beginning of the applicable performance period and the Change in
Control, a Non-Segmented Award shall vest as of the date of the Change in Control based upon the level of actual Company performance measured through the date of the Change in Control. 

 

	3.	 In either such case, the vested portion of the Award shall be paid within sixty (60) days following the
Change in Control (unless a later date is required by Section 16.4 hereof). 

 13.9. ACCELERATION FOR ANY OTHER
REASON. Regardless of whether an event has occurred as described in Sections 13.6, 13.7 or 13.8 above, the Committee may in its sole discretion at any time determine that all or a portion of a Participant’s Options, SARs, and other Awards
in the nature of rights that may be exercised shall become fully or partially exercisable, that all or a part of the time-based vesting restrictions on all or a portion of the outstanding Awards shall lapse, and/or that any performance-based
criteria with respect to any Awards shall be deemed to be wholly or partially satisfied, in each case, as of such date as the Committee may, in its sole discretion, declare. The Committee may discriminate among Participants and among Awards granted
to a Participant in exercising its discretion pursuant to this Section 13.9. Notwithstanding anything in the Plan, including this Section 13.9, the Committee may not accelerate the payment of any Award if such acceleration would violate
Section 409A(a)(3) of the Code. 
 13.10. FORFEITURE EVENTS. Awards under the Plan shall be subject to any compensation
recoupment policy that the Company may adopt from time to time that is applicable by its terms to the Participant. In addition, the Committee may specify in an Award Certificate that the Participant’s rights, payments and benefits with respect
to an Award shall be subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. 

Such events may include, but shall not be limited to, voluntary termination prior to Retirement eligibility, termination of employment for Cause, violation of
a Non-Compete Agreement, Non-Solicitation Agreement or Confidentiality Agreement, or other conduct by the Participant that is detrimental to the business interest or
reputation of the Company or any Affiliate or any act that is determined by the Senior Vice President & Chief People Officer to be a deliberate disregard of the Company’s rules. 

13.11. SUBSTITUTE AWARDS. The Committee may grant Awards under the Plan in substitution for stock and stock-based awards held by
employees of another entity who become employees of the Company or an Affiliate as a result of a merger or consolidation of 

  

 

 
 23 

 
the former employing entity with the Company or an Affiliate or the acquisition by the Company or an Affiliate of property or stock of the former employing corporation. The Committee may direct
that the substitute awards be granted on such terms and conditions as the Committee considers appropriate in the circumstances. 
 ARTICLE
14 
 CHANGES IN CAPITAL STRUCTURE 

14.1. MANDATORY ADJUSTMENTS. In the event of a nonreciprocal transaction between the Company and its shareowners that causes the per-share value of the Stock to change (including, without limitation, any stock dividend, stock split, spin-off, rights offering, or large nonrecurring cash dividend), the
authorization limits under Section 5.1 and 5.4 shall be adjusted proportionately, and the Committee shall make such adjustments to the Plan and Awards as it deems necessary, in its sole discretion, to prevent dilution or enlargement of rights
immediately resulting from such transaction. Action by the Committee may include: (i) adjustment of the number and kind of shares that may be delivered under the Plan; (ii) adjustment of the number and kind of shares subject to outstanding
Awards; (iii) adjustment of the exercise price of outstanding Awards or the measure to be used to determine the amount of the benefit payable on an Award; and (iv) any other adjustments that the Committee determines to be equitable.
Notwithstanding the foregoing, the Committee shall not make any adjustments to outstanding Options or SARs that would constitute a modification or substitution of the stock right under Treas. Reg.
Section 1.409A-1(b)(5)(v) that would be treated as the grant of a new stock right or change in the form of payment for purposes of Code Section 409A. Without limiting the foregoing, in the event of a
subdivision of the outstanding Stock (stock-split), a declaration of a dividend payable in Shares, or a combination or consolidation of the outstanding Stock into a lesser number of Shares, the authorization limits under Sections 5.1 and 5.4 shall
automatically be adjusted proportionately, and the Shares then subject to each Award shall automatically, without the necessity for any additional action by the Committee, be adjusted proportionately without any change in the aggregate purchase
price therefor. 
 14.2 DISCRETIONARY ADJUSTMENTS. Upon the occurrence or in anticipation of any corporate event or transaction
involving the Company (including, without limitation, any merger, reorganization, recapitalization, combination or exchange of shares, or any transaction described in Section 14.1), the Committee may, in its sole discretion, provide
(i) that Awards will be settled in cash rather than Stock, (ii) that Awards will become immediately vested and exercisable (in whole or in part) and will expire after a designated period of time to the extent not then exercised,
(iii) that Awards will be assumed by another party to a transaction or otherwise be equitably converted or substituted in connection with such transaction, (iv) that outstanding Awards may be settled by payment in cash or cash equivalents
equal to the excess of the Fair Market Value of the underlying Stock, as of a specified date associated with the transaction, over the exercise or base price of the Award, or (v) any combination of the foregoing. The Committee’s
determination need not be uniform and may be different for different Participants whether or not such Participants are similarly situated. 

  

 

 
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 14.3 GENERAL. Any discretionary adjustments made pursuant to this Article 14 shall be
subject to the provisions of Section 15.2. To the extent that any adjustments made pursuant to this Article 14 cause Incentive Stock Options to cease to qualify as Incentive Stock Options, such Options shall be deemed to be Non-qualified Stock Options. 
 ARTICLE 15 

AMENDMENT, MODIFICATION AND TERMINATION 

15.1. AMENDMENT, MODIFICATION AND TERMINATION. The Board or the Committee may, at any time and from time to time, amend, modify or
terminate the Plan without shareowner approval; provided, however, that if an amendment to the Plan would, in the reasonable opinion of the Board or the Committee, either (i) materially increase the number of Shares available under the Plan,
(ii) expand the types of awards under the Plan, (iii) materially expand the class of participants eligible to participate in the Plan, (iv) materially extend the term of the Plan, or (v) otherwise constitute a material change
requiring shareowner approval under applicable laws, policies or regulations or the applicable listing or other requirements of an Exchange, then such amendment shall be subject to shareowner approval; and provided, further, that the Board or
Committee may condition any other amendment or modification on the approval of shareowners of the Company for any reason, including by reason of such approval being necessary or deemed advisable (i) to comply with the listing or other
requirements of an Exchange, or (ii) to satisfy any other tax, securities or other applicable laws, policies or regulations. 
 15.2.
AWARDS PREVIOUSLY GRANTED. At any time and from time to time, the Committee may amend, modify or terminate any outstanding Award without approval of the Participant; provided, however: 

 

	(a)	 Subject to the terms of the applicable Award Certificate, no amendment, modification or termination shall,
without the Participant’s consent, reduce or diminish the value of such Award determined as if the Award had been exercised, vested, cashed in or otherwise settled on the date of such amendment or termination (with the per-share value of an Option or SAR for this purpose being calculated as the excess, if any, of the Fair Market Value as of the date of such amendment or termination over the exercise or base price of such Award);

  

	(b)	 The original term of an Option or SAR may not be extended without the prior approval of the shareowners of the
Company; 

  

 

 
 25 

	(c)	 Except as otherwise provided in Section 14.1, the exercise price of an Option or base price of a SAR may
not be reduced, directly or indirectly, without the prior approval of the shareowners of the Company; and 

  

	(d)	 No termination, amendment, or modification of the Plan shall adversely affect any Award previously granted
under the Plan, without the written consent of the Participant affected thereby. An outstanding Award shall not be deemed to be “adversely affected” by a Plan amendment if such amendment would not reduce or diminish the value of such Award
determined as if the Award had been exercised, vested, cashed in or otherwise settled on the date of such amendment (with the per-share value of an Option or SAR for this purpose being calculated as the
excess, if any, of the Fair Market Value as of the date of such amendment over the exercise or base price of such Award). 

15.3. COMPLIANCE AMENDMENTS. Notwithstanding anything in the Plan or in any Award Certificate to the contrary, the Board may amend the
Plan or an Award Certificate, to take effect retroactively or otherwise, as deemed necessary or advisable for the purpose of conforming the Plan or Award Certificate to any present or future law relating to plans of this or similar nature
(including, but not limited to, Section 409A of the Code), and to the administrative regulations and rulings promulgated thereunder. By accepting an Award under this Plan, a Participant agrees to any amendment made pursuant to this
Section 15.3 to any Award granted under the Plan without further consideration or action. 
 ARTICLE 16 

GENERAL PROVISIONS 
 16.1.
RIGHTS OF PARTICIPANTS. 
  

	(a)	 No Participant or any Eligible Participant shall have any claim to be granted any Award under the Plan. Neither
the Company, its Affiliates nor the Committee is obligated to treat Participants or Eligible Participants uniformly, and determinations made under the Plan may be made by the Committee selectively among Eligible Participants who receive, or are
eligible to receive, Awards (whether or not such Eligible Participants are similarly situated). 

  

	(b)	 Nothing in the Plan, any Award Certificate or any other document or statement made with respect to the Plan,
shall interfere with or limit in any way the right of the Company or any Affiliate to terminate any Participant’s employment or status as an officer, or any Participant’s service as a director, at any time, nor confer upon any Participant
any right to continue as an employee, officer, or director of the Company or any Affiliate, whether for the duration of a Participant’s Award or otherwise. 

  

 

 
 26 

	(c)	 Neither an Award nor any benefits arising under this Plan shall constitute an employment contract with the
Company or any Affiliate and, accordingly, subject to Article 15, this Plan and the benefits hereunder may be terminated at any time in the sole and exclusive discretion of the Committee without giving rise to any liability on the part of the
Company or an of its Affiliates. 

  

	(d)	 No Award gives a Participant any of the rights of a shareowner of the Company unless and until Shares are in
fact issued to such person in connection with such Award. 

 16.2. WITHHOLDING. The Company or any Affiliate shall
have the authority and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state, and local taxes (including the Participant’s FICA obligation in the United States and any
social tax obligations for any non-U.S. jurisdiction) required by law to be withheld with respect to any exercise, lapse of restriction or other taxable event arising as a result of the Plan. The obligations
of the Company under the Plan will be conditioned on such payment or arrangements and the Company or such Affiliate will, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to the
Participant. Unless otherwise determined by the Committee at the time the Award is granted or thereafter, any such withholding requirement may be satisfied, in whole or in part, by withholding from the Award Shares having a Fair Market Value on the
date of withholding equal to the minimum amount (and not any greater amount) required to be withheld for tax purposes, all in accordance with such procedures as the Committee establishes. All such elections shall be subject to any restrictions or
limitations that the Committee, in its sole discretion, deems appropriate. For certain Participants designated by the Company, the Company shall also have the authority and the right to deduct or withhold additional amounts to satisfy federal, state
or local taxes up to a maximum amount of 85% of the Award at the election of the Participant. 
 16.3. IMPACT OF RESTATEMENT OF FINANCIAL
STATEMENTS UPON PREVIOUS AWARDS. If any of the Company’s financial statements are required to be restated, resulting from errors, omissions, or fraud, the Committee may (in its sole discretion, but acting in good faith) direct that the
Company recover all or a portion of any such Award made to any, all or any class of Participants with respect to any fiscal year of the Company the financial results of which are negatively affected by such restatement. The amount to be recovered
from any Participant shall be the amount by which the affected Award(s) exceeded the amount that would have been payable to such Participant had the financial statements been initially filed as restated, or any greater or lesser amount (including,
but not limited to, the entire award) that the Committee shall determine. The Committee may determine to recover different amounts from different Participants or different classes of 

  

 

 
 27 

 
Participants on such bases as it shall deem appropriate. In no event shall the amount to be recovered by the Company be less than the amount required to be repaid or recovered as a matter of law.
The Committee shall determine whether the Company shall effect any such recovery (i) by seeking repayment from the Participant, (ii) by reducing (subject to applicable law and the terms and conditions of the applicable plan, program or
arrangement) the amount that would otherwise be payable to the Participant under any compensatory plan, program or arrangement maintained by the Company or any of its affiliates, (iii) by withholding payment of future increases in compensation
(including the payment of any discretionary bonus amount) or grants of compensatory awards that would otherwise have been made in accordance with the Company’s otherwise applicable compensation practices, or (iv) by any combination of the
foregoing. 
 16.4. SPECIAL PROVISIONS RELATED TO SECTION 409A OF THE CODE. 

 

	(a)	 General. It is intended that the payments and benefits provided under the Plan and any Award shall
either be exempt from the application of, or comply with, the requirements of Section 409A of the Code. The Plan and all Award Certificates shall be construed in a manner that effects such intent. Nevertheless, the tax treatment of the benefits
provided under the Plan or any Award is not warranted or guaranteed. Neither the Company, its Affiliates nor their respective directors, officers, employees or advisers (other than in his or her capacity as a Participant) shall be held liable for
any taxes, interest, penalties or other monetary amounts owed by any Participant or other taxpayer as a result of the Plan or any Award. 

  

	(b)	 Definitional Restrictions. Notwithstanding anything in the Plan or in any Award Certificate to the
contrary, to the extent that any amount or benefit that would constitute non-exempt “deferred compensation” for purposes of Section 409A of the Code
(“Non-Exempt Deferred Compensation”) would otherwise be payable or distributable, or a different form of payment (e.g., lump sum or installment) of such
Non-Exempt Deferred Compensation would be effected, under the Plan or any Award Certificate by reason of the occurrence of a Change in Control, or the Participant’s Disability or separation from service,
such Non-Exempt Deferred Compensation will not be payable or distributable to the Participant, and/or such different form of payment will not be effected, by reason of such circumstance unless the
circumstances giving rise to such Change in Control, Disability or separation from service meet any description or definition of “change in control event”, “disability” or “separation from service”, as the case may be,
in Section 409A of the Code and applicable regulations (without giving effect to any elective provisions that may be available under such definition). This provision does not affect the dollar amount or prohibit the vesting of
such Non-Exempt Deferred 

  

 

 
 28 

	 	
Compensation upon a Change in Control, Disability or separation from service, however defined. If this provision prevents the payment or distribution of any
Non-Exempt Deferred Compensation, or the application of a different form of payment, such payment or distribution shall be made at the time and in the form that would have applied absent the non-409A-conforming event. 

  

	(c)	 Allocation among Possible Exemptions. If any one or more Awards granted under the Plan to a Participant
could qualify for any separation pay exemption described in Treas. Reg. Section 1.409A-1(b)(9), but such Awards in the aggregate exceed the dollar limit permitted for the separation pay exemptions, the
Company (acting through the Committee or the Head of Human Resources) shall determine which Awards or portions thereof will be subject to such exemptions. 

  

	(d)	 Six-Month Delay in Certain Circumstances. Notwithstanding
anything in the Plan or in any Award Certificate to the contrary, if any amount or benefit that would constitute Non-Exempt Deferred Compensation would otherwise be payable or distributable under this Plan or
any Award Certificate by reason of a Participant’s separation from service during a period in which the Participant is a Specified Employee (as defined below), then, subject to any permissible acceleration of payment by the Committee under
Treas. Reg. Section 1.409A-3(j)(4)(ii) (domestic relations order), (j)(4)(iii) (conflicts of interest), or (j)(4)(vi) (payment of employment taxes): 

(i) the amount of such non-exempt deferred compensation that would otherwise be payable during the six-month period immediately following the Participant’s separation from service will be accumulated through and paid or provided on the first day of the seventh month following the Participant’s
separation from service (or, if the Participant dies during such period, within 30 days after the Participant’s death) (in either case, the “Required Delay Period”); and 

(ii) the normal payment or distribution schedule for any remaining payments or distributions will resume at the end of the Required Delay Period. 

For purposes of this Plan, the term “Specified Employee” has the meaning given such term in Code Section 409A and the final regulations
thereunder, provided, however, that, as permitted in such final regulations, the Company’s Specified Employees and its application of the six-month delay rule of Code
Section 409A(a)(2)(B)(i) shall be determined in accordance with rules adopted by the Board or any committee of the Board, which shall be applied consistently with respect to all nonqualified deferred compensation arrangements of the Company,
including this Plan. 

  

 

 
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	(e)	 Installment Payments. If, pursuant to an Award, a Participant is entitled to a series of installment
payments, such Participant’s right to the series of installment payments shall be treated as a right to a series of separate payments and not to a single payment. For purposes of the preceding sentence, the term “series of installment
payments” has the meaning provided in Treas. Reg. Section 1.409A-2(b)(2)(iii) (or any successor thereto). 

  

	(f)	 Timing of Release of Claims. Whenever an Award conditions a payment or benefit on the Participant’s
execution and non-revocation of a release of claims, such release must be executed and all revocation periods shall have expired within 60 days after the date of termination of the Participant’s
employment; failing which such payment or benefit shall be forfeited. If such payment or benefit is exempt from Section 409A of the Code, the Company may elect to make or commence payment at any time during such
60-day period. If such payment or benefit constitutes Non-Exempt Deferred Compensation, then, subject to subsection (c) above, (i) if such 60-day period begins and ends in a single calendar year, the Company may make or commence payment at any time during such period at its discretion, and (ii) if such
60-day period begins in one calendar year and ends in the next calendar year, the payment shall be made or commence during the second such calendar year (or any later date specified for such payment under the
applicable Award), even if such signing and non-revocation of the release occur during the first such calendar year included within such 60-day period. In other words, a
Participant is not permitted to influence the calendar year of payment based on the timing of signing the release. 

  

	(g)	 Permitted Acceleration. The Company shall have the sole authority to make any accelerated distribution
permissible under Treas. Reg. Section 1.409A-3(j)(4) to Participants of deferred amounts, provided that such distribution(s) meets the requirements of Treas. Reg.
Section 1.409A-3(j)(4). 

 16.5. UNFUNDED STATUS OF AWARDS. The Plan
is intended to be an “unfunded” plan for incentive and deferred compensation. With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award Certificate shall give the
Participant any rights that are greater than those of a general creditor of the Company or any Affiliate. This Plan is not intended to be subject to ERISA. 

  

 

 
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 16.6. RELATIONSHIP TO OTHER BENEFITS. No payment under the Plan shall be taken into
account in determining any benefits under any pension, retirement, savings, profit sharing, group insurance, welfare or benefit plan of the Company or any Affiliate unless provided otherwise in such other plan. 

16.7. EXPENSES. The expenses of administering the Plan shall be borne by the Company and its Affiliates. 

16.8. TITLES AND HEADINGS. The titles and headings of the Sections in the Plan are for convenience of reference only, and in the event
of any conflict, the text of the Plan, rather than such titles or headings, shall control. 
 16.9. GENDER AND NUMBER. Except where
otherwise indicated by the context, any masculine term used herein also shall include the feminine and any feminine term used herein also shall include the masculine; the plural shall include the singular and the singular shall include the plural.

 16.10. FRACTIONAL SHARES. No fractional Shares shall be issued and the Committee shall determine, in its discretion, whether cash
shall be given in lieu of fractional Shares or whether such fractional Shares shall be eliminated by rounding up or down. 
 16.11.
GOVERNMENT AND OTHER REGULATIONS. 
  

	(a)	 Notwithstanding any other provision of the Plan, no Participant who acquires Shares pursuant to the Plan may,
during any period of time that such Participant is an affiliate of the Company (within the meaning of the rules and regulations of the Securities and Exchange Commission under the Securities Act), sell such Shares, unless such offer and sale is made
(i) pursuant to an effective registration statement under the Securities Act, which is current and includes the Shares to be sold, or (ii) pursuant to an appropriate exemption from the registration requirement of the Securities Act, such
as that set forth in Rule 144 promulgated under the Securities Act. 

  

	(b)	 Notwithstanding any other provision of the Plan, if at any time the Committee shall determine that the
registration, listing or qualification of the Shares covered by an Award upon any Exchange or under any foreign, federal, state or local law or practice, or the consent or approval of any governmental regulatory body, is necessary or desirable as a
condition of, or in connection with, the granting of such Award or the purchase or receipt of Shares thereunder, no Shares may be purchased, delivered or received pursuant to such Award unless and until such registration, listing,

  

 

 
 31 

	 	
qualification, consent or approval shall have been effected or obtained free of any condition not acceptable to the Committee. Any Participant receiving or purchasing Shares pursuant to an Award
shall make such representations and agreements and furnish such information as the Committee may request to assure compliance with the foregoing or any other applicable legal requirements. The Company shall not be required to issue or deliver any
certificate or certificates for Shares under the Plan prior to the Committee’s determination that all related requirements have been fulfilled. The Company shall in no event be obligated to register any securities pursuant to the Securities Act
or applicable state or foreign law or to take any other action in order to cause the issuance and delivery of such certificates to comply with any such law, regulation or requirement. 

16.12. GOVERNING LAW. To the extent not governed by federal law, the Plan and all Award Certificates shall be construed in
accordance with and governed by the laws of the State of Delaware. 
 16.13. SEVERABILITY. In the event that any provision of
this Plan is found to be invalid or otherwise unenforceable under any applicable law, such invalidity or unenforceability will not be construed as rendering any other provisions contained herein as invalid or unenforceable, and all such other
provisions will be given full force and effect to the same extent as though the invalid or unenforceable provision was not contained herein. 

16.14. NO LIMITATIONS ON RIGHTS OF COMPANY. The grant of any Award shall not in any way affect the right or power of the Company to
make adjustments, reclassification or changes in its capital or business structure or to merge, consolidate, dissolve, liquidate, sell or transfer all or any part of its business or assets. The Plan shall not restrict the authority of the Company,
for proper corporate purposes, to draft or assume awards, other than under the Plan, to or with respect to any person. If the Committee so directs, the Company may issue or transfer Shares to an Affiliate, for such lawful consideration as the
Committee may specify, upon the condition or understanding that the Affiliate will transfer such Shares to a Participant in accordance with the terms of an Award granted to such Participant and specified by the Committee pursuant to the provisions
of the Plan. 
 16.15. INDEMNIFICATION. Each person who is or shall have been a member of the Committee, or of the Board, or an
officer of the Company to whom authority was delegated in accordance with Article 4 shall be indemnified and held harmless by the Company against and from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by
him or her in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action taken or failure to act under the Plan and against and from any
and 

  

 

 
 32 

 
all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by him or her in satisfaction of any judgment in any such action, suit, or proceeding against him
or her, provided he or she shall give the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf, unless such loss, cost, liability, or expense is a
result of his or her own willful misconduct or except as expressly provided by statute. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled under the
Company’s charter or bylaws, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless. 

  

 

 
 33

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