Document:

Form of Warrant

 Exhibit 4.8 
  

No. of Shares
                     
  
 THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933
ACT”), AND NO SALE, TRANSFER, PLEDGE, HYPOTHECATION OR OTHER DISPOSITION OF SUCH SECURITIES IN WHOLE OR IN PART, OR OFFER THEREOF, MAY BE MADE IN THE ABSENCE OF EITHER AN EFFECTIVE REGISTRATION UNDER THE ACT OR AN EXEMPTION THEREFROM. BY HIS OR
HER ACCEPTANCE OF THIS CERTIFICATE EACH PURCHASER REPRESENTS THAT HE OR SHE, OR ANY PERSON FOR WHOM THEY ARE ACTING, IS ACQUIRING THIS CERTIFICATE AND THE UNDERLYING SECURITIES FOR THEIR OWN ACCOUNT, FOR INVESTMENT AND NOT FOR RESALE OR
DISTRIBUTION. 
  
 Void after
                    ,         . 
  
 APHTON CORPORATION 
  
 WARRANT 
  
 Aphton Corporation, a Delaware corporation (hereinafter called the “Company”), hereby certifies that, in consideration of the payment of $
                         to the Company,
                                        
                         (“Holder”) is entitled to purchase from the Company at any time prior to
                        ,              (the
“Expiration Date”)                      shares (the number and character of such shares being subject to adjustment as provided in
Section 3 hereof) of the Common Stock of the Company, at $              per share or at such price as may be determined by adjustment pursuant to Section 3 hereof (hereinafter
sometimes referred to as the “Purchase Price”). 
  
 1. Exercise of Warrant. 
  
 The Holder may, at any
time after the date hereof but not later than the Expiration Date, exercise this Warrant in whole at any time, or in part (but for not less than 100 shares at any time) from time to time, for the purchase of the shares of Common Stock which the
Holder is then entitled to purchase hereunder, at the Purchase Price. In order to exercise this Warrant in whole or in part, the Holder hereof shall deliver to the Company at its principal office upon each such exercise (a) a written notice of such
holder’s election to exercise this Warrant, which notice shall specify the number of shares of Common Stock to be purchased, (b) certified check(s) or bank cashier’s check(s) payable to the Company in an amount equal to the aggregate
Purchase Price of the shares of Common Stock being purchased, and (c) this Warrant. Such notice may be in the form of the Notice of Exercise of Warrant (the “Exercise Notice”) set out at the end of this Warrant. Upon receipt of the
Exercise Notice, the Company shall, as promptly as practicable and in any event within 60 days thereafter, cause to be executed and delivered to such Holder a certificate(s) representing the aggregate number of shares of Common Stock specified in
the Exercise Notice. Such certificate(s) shall be deemed to have been issued and the Holder shall be 

 deemed to have become a holder of record of such shares, including to the extent permitted by law the right to receive
dividends and to vote such shares and to consent and to receive notice as a shareholder, as of the date the Exercise Notice and the Purchase Price are received by the Company as aforesaid. If this Warrant shall have been exercised only in part, the
Company shall, at the time of delivery of said stock certificate(s), deliver to the Holder a new Warrant evidencing the rights of such holder to purchase the remaining shares of Common Stock called for by this Warrant which new Warrant shall in all
other respects be identical with this Warrant, or, at the request of the Holder, appropriate notation may be made on this Warrant and the same returned to the Holder. The Company shall pay all expenses, taxes and other charges payable in connection
with the preparation, issue and delivery of stock certificates under this Section 1. 
  
 All shares of Common Stock issuable upon the exercise of this Warrant shall be validly issued, fully paid and non-assessable. 
  
 The Company shall not be required upon any exercise of this Warrant to issue a certificate representing any fraction of a share of Common Stock, but, in
lieu thereof, shall pay for such fraction of a share at the Market Value of such share on the date of such exercise of this Warrant. 
  
 2. Transfer Restriction, Division and Combination. 
  
 Neither this Warrant nor any of the shares issuable upon exercise hereof (“Warrant Shares”) may be sold, assigned, pledged, hypothecated,
encumbered or in any other manner transferred or disposed of, in whole or in part, except in compliance with all applicable securities laws and the terms and conditions hereof. Each certificate for Warrant Shares issued upon exercise of this
Warrant, unless at the time of exercise such Warrant Shares are registered under the 1933 Act, shall bear the following legend: 
  
 THIS CERTIFICATE AND THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. NEITHER THIS CERTIFICATE NOR SUCH
SECURITIES MAY BE SOLD, ASSIGNED, PLEDGED, HYPOTHECATED, ENCUMBERED OR IN ANY OTHER MANNER TRANSFERRED OR DISPOSED OF EXCEPT IN COMPLIANCE WITH SUCH ACT AND THE RULES AND REGULATIONS OF THE SECURITIES AND EXCHANGE COMMISSION PROMULGATED THEREUNDER.

  
 Any certificate issued at any time in exchange or substitution for any
certificate bearing such legend (except a new certificate issued upon completion of a public distribution under an effective registration statement of the securities represented thereby) shall also bear such legend, unless counsel to the Company
shall determine that the securities represented thereby need no longer be subject to the restriction contained herein. The provisions of this Section 2 shall be binding upon all subsequent holders of certificates bearing the aforesaid legend and all
subsequent holders of this Warrant, if any. 
  
 This Warrant may
be divided or combined with other Warrants upon presentation hereof at the principal office of the Company, together with a written notice specifying the 
  

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 denominations in which new Warrants are to be issued, signed by the Holder hereof or his agent or attorney and the
Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. 
  
 3. Anti-Dilution Provisions. 
  
 (a) If, prior to the expiration of this Warrant by exercise or by its terms, the Company shall issue any shares of its Common Stock as a stock dividend or
subdivide the number of outstanding shares of Common Stock into a greater number of shares, then the Purchase Price per share of the shares of Common Stock purchasable pursuant to this Warrant in effect at the time of such action shall be
proportionately reduced and the number of shares at the time purchasable pursuant to this Warrant shall be proportionately increased; and conversely, in the event the Company shall contract the number of outstanding shares of Common Stock by
combining such shares into a smaller number of shares, then the Purchase Price per share of the shares of Common Stock purchasable pursuant to this Warrant in effect at the time of such action shall be proportionately increased and the number of
shares at the time purchasable pursuant to this Warrant shall be proportionately decreased. Any dividend paid or distributed upon the Common Stock in stock of any other class or securities convertible into shares of Common Stock shall be treated as
a dividend paid in Common Stock to the extent that shares of Common Stock are issuable upon the conversion thereof 
  
 (b) If, prior to the expiration of this Warrant by exercise or by its terms, the Company shall be re-capitalized by reclassifying its outstanding Common
Stock, or the Company or a successor corporation shall consolidate or merge with or convey all or substantially all of its or any successor corporation’s property and assets to any other corporation or corporations, the Holder of this Warrant
shall thereafter have the right to purchase, upon the basis and on the terms and conditions and during the time specified in this Warrant, such shares of stock, securities or assets as may be issued or payable with respect to, or in exchange for,
the number of shares of Common Stock of the Company theretofore purchasable upon the exercise of this Warrant. The amount of any stock or securities, which the Holder of this Warrant becomes entitled to purchase under this Section 3(b) shall be
proportionally adjusted thereafter in the same manner as provided by Section 3(a). 
  
 (c) When any adjustment is required to be made under this Section 3, the Company shall forthwith determine such adjustment and (i) prepare and retain on file a statement describing in reasonable detail the method used
in arriving at the adjustment; and (ii) cause a copy of such statement to be mailed to the Holder within 60 days after the date when the circumstances giving rise to the adjustment occurred. 
  
 (d) In case: 
  

	 	(i)	 	the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive a dividend payable otherwise than in cash, or any other distribution
in respect to the Common Stock (including cash), pursuant to, without limitation, any spin-off, split-off, or distribution of the Company’s assets; or 

  

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	 	(ii)	 	the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to subscribe for or to purchase any shares of stock of any class or to receive
any rights; or 

  

	 	(iii)	 	of any classification, reclassification, or other reorganization of the Common Stock of the Company, consolidation or merger of the Company with or into another corporation, or
conveyance of all or substantially all of the assets of the Company; or 

  

	 	(iv)	 	of the voluntary or involuntary dissolution, liquidation, or winding up of the Company; 

  
 then the Company shall mail to the Holder of this Warrant, at least 30 days prior thereto, a notice stating the date or expected date on
which a record is to be taken for the purpose of such dividend, distribution or rights, or the date on which such classification, reclassification, reorganization, consolidation, merger, conveyance, dissolution, liquidation, or winding up is to take
place, as the case may be. Such notice shall also specify the date or expected date, if any is to be fixed, as of which holders of Common Stock of record shall be entitled to participate in such dividend, distribution, or rights, or shall be
entitled to exchange their shares of Common Stock for securities or other property deliverable upon such classification, reclassification, reorganization, consolidation, merger, conveyance, dissolution, liquidation, or winding up, as the case may
be. 
  
 (e) In case the Company at any time while this Warrant
shall remain unexpired and unexercised, shall sell all or substantially all of its property or dissolve, liquidate, or wind up its affairs, the Holder of this Warrant may thereafter receive upon exercise hereof prior to expiration in lieu of each
share of Common Stock of the Company which it would have been entitled to receive, the same kind and amount of any securities or assets as may be issuable, distributable, or payable upon any such sale, dissolution, liquidation, or winding up with
respect to each share of Common Stock of the Company. 
  
 4.
Reservation of Stock Issuable on Exercise of Warrants. 
  
 The
Company will at all times reserve and keep available out of its authorized Common Stock, for issuance upon the exercise of this Warrant, such number of shares of Common Stock and other stock as from time to time shall be issuable upon the exercise
of this Warrant. 
  
 5. Loss, Theft, Destruction, or
Mutilation. 
  
 Upon receipt by the Company of evidence
satisfactory to it (in the exercise of its reasonable discretion) of the ownership of and the loss, theft, destruction, or mutilation of this Warrant and (in the case of loss, theft, or destruction) of indemnity satisfactory to it (in the exercise
of its reasonable discretion), and (in the case of mutilation) upon surrender and cancellation thereof, the Company will execute and deliver, in lieu thereof, a new Warrant of like tenor dated the date hereof. 
  

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 6. Warrant Holder Not a Shareholder. 
  
 The Holder of this Warrant, as such, shall not be entitled by reason of this Warrant to any rights whatsoever as a
shareholder of the Company but shall be entitled to all such rights immediately upon exercise as provided in Section 1 of this Warrant. 
  
 7. Mailing of Notices. 
  
 All notices and other communications from the Company to the Holder of this Warrant shall be mailed by first-class mail, postage prepaid, to the Holder at
such address as may be furnished to the Company in writing by the Holder of this Warrant. 
  
 Dated:                                    ,
            . 
  

	 APHTON CORPORATION

		
	 	 	 
	 By:
	 	

	 	 	Philip Gevas, President

  

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 (NOT TO BE COMPLETED PRIOR TO EXERCISE OF WARRANT) 
  
 NOTICE OF EXERCISE OF WARRANT 
  
 To: 
  

The undersigned hereby irrevocably elects to exercise the purchase right represented and evidenced by the within Warrant for, and to purchase thereunder
                     shares of Common Stock of Aphton Corporation provided for therein, and hereby delivers herewith either: certified
checks(s) or a bank cashier’s check(s) payable to Aphton Corporation in the aggregate amount of $                    , which represents
the purchase price of such shares. 
  
 If said number of shares shall not be all
the shares purchasable thereunder, please issue a new Warrant for the balance remaining of the shares purchasable under the within Warrant registered in the name of the undersigned holder of the within Warrant as indicated below, and deliver to the
address set forth below. 
  
 Dated:
                              ,
                . 
  

		
	Name of Holder:	  	

		
	 Address: 
	  	

		
	 	  	

  

	Note:	 	The above signature must correspond with the names as written upon the faces of this Warrant in every particular, without alteration or enlargement or any change whatsoever.

  

 61999 Incentive and Reward Plan, as amended

 Exhibit 10.6 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 The Aphton Corporation 
 Incentive Plan 
  

 TABLE OF CONTENTS 
  
 SECTION 
  

	1.	 	PURPOSE 

  

	2.	 	DEFINITIONS 

  

	 	(a)	 	Award 

	 	(b)	 	Award Agreement 

	 	(c)	 	Board 

	 	(d)	 	Code 

	 	(e)	 	Committee 

	 	(f)	 	Common Stock 

	 	(g)	 	Corporation 

	 	(h)	 	Dividend Equivalent Rights 

	 	(i)	 	Employee 

	 	(j)	 	Employer 

	 	(k)	 	Exercise Price 

	 	(l)	 	Fair Market Value 

	 	(m)	 	Option 

	 	(n)	 	Participant 

	 	(o)	 	Plan 

	 	(p)	 	Share 

  

	3.	 	EFFECTIVE DATE 

  

	4.	 	ADMINISTRATION 

  

	 	(a)	 	Administration 

	 	(b)	 	Composition of the Committee 

	 	(c)	 	Powers of the Committee 

	 	(d)	 	Committee’s Interpretation of the Plan 

	 	(e)	 	Board’s Determination of Fair Market Value 

  

	5.	 	PARTICIPATION 

  

	 	(a)	 	Eligibility for Participation 

	 	(b)	 	Eligibility for Awards 

  

	6.	 	SHARES OF STOCK OF CORPORATION 

  

	 	(a)	 	Shares Subject to This Plan 

	 	(b)	 	Adjustment of Shares 

	 	(c)	 	Awards Not to Exceed Shares Available 

  

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	7.	 	TERMS AND CONDITIONS OF OPTIONS 

  

	 	(a)	 	Options 

	 	(b)	 	Vesting 

	 	(c)	 	Nontransferability of Nonvested Option 

	 	(d)	 	Termination of Employment for Any Reason Other Than for Death. 

	 	(e)	 	Termination of Employment Due to Death 

	 	(f)	 	Rights as a Stockholder 

	 	(g)	 	Modification of Options 

	 	(h)	 	Other Provisions 

  

	8.	 	TERMS AND CONDITIONS OF DIVIDEND EQUIVALENT RIGHTS 

  

	 	(a)	 	Dividend Equivalent Rights 

	 	(b)	 	Term 

	 	(c)	 	Nontransferability of Dividend Equivalent Rights 

	 	(d)	 	Termination of Employment for Any Reason Other Than for Death 

	 	(e)	 	Termination of Employment Due to Death 

	 	(f)	 	Modification of Dividend Equivalent Rights 

	 	(g)	 	Other Provisions 

  

	9.	 	TERM OF PLAN 

  

	10.	 	RECAPITALIZATIONS, TAKEOVERS, AND LIQUIDATIONS 

  

	 	(a)	 	Reorganizations 

	 	(b)	 	Mergers and Consolidations 

	 	(c)	 	Change of Control 

	 	(d)	 	Determination by Committee 

	 	(e)	 	Limitation on Rights of Participant 

	 	(f)	 	No Limitation on Rights of Corporation 

  

	11.	 	SECURITIES LAW REQUIREMENTS 

  

	 	(a)	 	Legality of Issuance 

	 	(b)	 	Restrictions on Transfer; Representations of Participant; Legends 

	 	(c)	 	Registration or Qualification of Securities 

	 	(d)	 	Exchange of Certificates 

  

	12.	 	PAYMENT FOR SHARE PURCHASES 

  

	13.	 	AMENDMENT OF PLAN 

  

	14.	 	PRIVILEGES OF STOCK OWNERSHIP 

  

	15.	 	TRANSFERABILITY 

  

	16.	 	WITHHOLDING OF TAXES 

  

	 	(a)	 	General 

	 	(b)	 	Stock Withholding 

	 	(c)	 	Other 

  
  

 ii 

 Aphton Corporation 
 Incentive Plan 
  
 As Amended
on April 11, 2003 
  

	1.	 	PURPOSE 

  
 The purpose of the Plan is to provide both short and long term incentives to attract and retain selected officers, employees, consultants and directors
with outstanding qualifications and motivate selected officers, employees, consultants and directors to attain exceptional levels of performance and to reward them for their contributions and service to the Corporation. The Plan is intended to
provide to selected officers, employees, consultants and directors of Aphton Corporation (the “Corporation”), a corporation organized under the law of the state of Delaware an opportunity to acquire shares of the Corporation and other
equity based compensation awards made within the terms of the Plan. The Plan is effective December 15, 1999. 
  

	2.	 	DEFINITIONS 

  

	 	(a)	 	“Award” shall mean any award under the Plan of an Option with a related Dividend Equivalent Right made pursuant to the terms of this Plan. 

 

	 	(b)	 	“Award Agreement” shall mean, with respect to each Award, the signed written agreement between the Corporation and the Participant setting forth the terms and
conditions of the Award. 

  

	 	(c)	 	“Board” shall mean the Board of Directors of the Corporation. 

  

	 	(d)	 	“Code” shall mean the Internal Revenue Code of 1986, as amended. 

  

	 	(e)	 	“Committee” shall mean the committee appointed by the Board in accordance with Section 4(b) to administer the Plan. 

  

	 	(f)	 	“Common Stock” shall mean the voting common stock of the Corporation. 

  

	 	(g)	 	“Dividend Equivalent Right” shall mean the right to receive a cash payment equal to the value of any dividend paid on a Share with respect to which a Dividend
Equivalent Right has been awarded. 

  

	 	(h)	 	“Employee” shall mean any individual who is employed by the Employer, or any other individual so designated by the Employer. The Committee shall be responsible for
determining when the period of employment shall be deemed to be continued during an approved leave of absence. 

  

	 	(i)	 	“Employer” shall mean the Corporation, or any subsidiary or affiliate of the Corporation for whom an individual performs or performed any service, of whatever
nature, as an Employee. 

  

 1 

	 	(j)	 	“Exercise Price” shall mean the price per Share at which an Option may be exercised, as determined by the Committee and as specified in the Participant’s Award
Agreement. 

  

	 	(k)	 	“Fair Market Value” shall mean the fair market value of the common stock of the Corporation, determined by the Committee from time to time, in accordance with
section 4(e) of the Plan. 

  

	 	(l)	 	“Option” shall mean a non-statutory stock option exercisable for a Share. 

  

	 	(m)	 	“Participant” shall mean any officer, Employee, any consultant providing services to the Corporation or any director to whom an Award has been granted or issued
under the Plan. 

  

	 	(n)	 	“Plan” shall mean the Aphton Corporation Incentive and Reward Plan, as amended from time-to-time. The Plan is effective December 15, 1999. The term of the
Plan shall not be less than 21 years and shall continue until terminated by the Board or the Committee. 

  

	 	(o)	 	“Share” shall mean one authorized share of Common Stock of the Corporation. 

  

	3.	 	EFFECTIVE DATE 

  
 The Plan was adopted by the Corporation effective December 15, 1999. 
  

	4.	 	ADMINISTRATION 

  

	 	(a)	 	Administration 

  
 The Board may administer the Plan or appoint a Committee to administer the Plan. If no Committee has been appointed or is currently constituted, the Board
shall have the powers and authority otherwise delegated to the Committee in this Plan document and all acts to be performed by the Committee under this Plan shall be performed by the Board. 
  

	 	(b)	 	Composition of the Committee 

  

	 	(i)	 	The Committee shall consist of not less than two members, who may also be members of the Board. 

  

	 	(ii)	 	Members of the Board or the Committee who are either eligible for Awards or have been granted an Award may vote on any matters affecting the administration of the Plan or the grant
of any Award pursuant to the Plan. However, no such member shall act upon the granting of an Award to himself or herself (unless such grant is part of a plan under which Awards are to be granted to a classification of employees), although such
member shall be counted in determining the existence of a quorum at a meeting of the Committee and shall be excluded in determining the number of directors voting or taking written action with respect to an Award granted to such member.

  

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	 	(c)	 	Powers of the Committee 

  
 Subject to the provisions of the Plan, the Committee shall have authority and discretion and on behalf of the Corporation to: 
  

	 	(i)	 	Prescribe, amend and rescind rules relating to the Plan; 

  

	 	(ii)	 	Select Participants to receive Awards; 

  

	 	(iii)	 	Determine the terms of Awards; 

  

	 	(iv)	 	Determine the number of Shares subject to Awards; 

  

	 	(v)	 	Construe and interpret the Plan, any Award Agreement and any other agreement or document executed pursuant to the Plan; 

  

	 	(vi)	 	Correct any defect or omission, or reconcile any inconsistency in the Plan, any Award or any Award Agreement; 

  

	 	(vii)	 	Determine whether an Award has been earned and/or vested; 

  

	 	(viii)	 	Determine whether and when a Dividend Equivalent Right shall be extended, rescinded and/or revoked prior to the exercise of its related Option; 

  

	 	(ix)	 	Accelerate or defer, with the consent of the Participant, the vesting of any Option; 

  

	 	(x)	 	Authorize any person to execute on behalf of the Corporation any instrument required to effectuate the grant of an Award as made by the Committee; 

  

	 	(xi)	 	With the consent of the Participant, cancel and reissue, or otherwise adjust the terms of an Award previously issued to the Participant; and 

  

	 	(xii)	 	Make all other determinations deemed necessary or advisable for the administration of the Plan. 

  

	 	(d)	 	Committee’s Interpretation of the Plan 

  
 The Committee’s interpretation and construction of any provision of the Plan, of any Award granted under the Plan, or of any Award Agreement shall be
final and binding on all parties claiming an interest in an Award granted or issued under the Plan. No member of the Committee and no director shall be liable for any action or determination made in good faith with respect to the Plan. 

 

	 	(e)	 	Determination of Fair Market Value 

  
 If the common stock of the Corporation is publicly traded, the fair market value of a Share shall be its closing price on the day with respect to which
its value is to be determined, as reported by an established securities exchange. If the common stock of the Corporation is not publicly traded, the Board shall have the sole authority to determine, upon review of 
  
  

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 relevant information, the Fair Market Value of the stock, irrespective of whether the Board has appointed
a Committee to administer the Plan. 
  

	5.	 	PARTICIPATION 

  

	 	(a)	 	Eligibility for Participation 

  
 Plan Participants shall be limited to such Participants as the Committee may select who, in the judgment of the Committee, may have a significant positive
effect on the performance of the Corporation. 
  

	 	(b)	 	Eligibility for Awards 

  
 Awards may be granted only to Participants. Such Participant may be granted more than one Award under the Plan. 
  

	6.	 	SHARES OF STOCK OF THE CORPORATION 

  

	 	(a)	 	Shares Subject to This Plan 

  
 Stock with respect to which Awards are granted or issued under this Plan shall be authorized but unissued or reacquired Shares. The number of Shares
subject to Awards is 2,500,000, subject to adjustment as described in (b). 
  

	 	(b)	 	Adjustment of Shares 

  
 In the event of an adjustment described in Section 10, then (i) the number of Shares reserved for issuance under the Plan, (ii) the number of Shares
subject to other outstanding Awards, and (iii) any other factor pertaining to outstanding Awards shall be duly and proportionately adjusted, subject to any required action by the Board or the shareholders of the Corporation and compliance with
applicable securities laws; provided, however, that fractions of a Share shall not be issued but shall either be paid in cash at Fair Market Value or shall be rounded up to the nearest Share, as determined by the Committee. 
  

	 	(c)	 	Awards Not to Exceed Shares Available 

  
 The number of Shares subject to Awards, which are outstanding at any time, shall not exceed the number of Shares authorized for issuance under the Plan,
reduced by the number of Awards previously granted or issued under this Plan. The number of Shares subject to an Award, which expires or is canceled, forfeited or terminated for any reason, shall again be available for issuance under the Plan.

  

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	7.	 	TERMS AND CONDITIONS OF AWARDS 

  

	 	(a)	 	Options 

  
 Each Award of Options shall include Dividend Equivalent Rights. Each Award shall be evidenced by a written Award Agreement which shall set forth the terms
and conditions pertaining to such Award, provided that all such terms shall be subject to the terms and conditions of this Plan. Each Award Agreement shall state the number of Options and Dividend Equivalent Rights to which it pertains and shall
state when the Options shall first become exercisable for Shares. 
  

	 	(b)	 	Vesting 

  

	 	(i)	 	Each Award Agreement shall include a vesting schedule applicable to the Options to which it pertains. Such vesting schedule shall set out all relevant conditions that must be
satisfied prior to the vesting of any Option. This condition shall not impose upon the Employer any obligation to retain the Participant in its employ for any period. 

  

	 	(c)	 	Nontransferability of Nonvested Options 

  
 During the lifetime of the Participant, a nonvested Award is neither assignable nor transferable. 
  

	 	(d)	 	Termination of Employment or Service for Any Reason Other Than for Death 

  

	 	(i)	 	If a Participant ceases to be an Employee or ceases to perform services for the Corporation for any reason, or if for any other reason provided herein an Award becomes forfeitable,
all Options held by the Participant that are then unvested, and all Dividend Equivalents related to optioned shares, shall be immediately forfeited on the date the Participant’s employment or service with the Corporation terminates.

  

	 	(ii)	 	For purposes of this Section 7(d), the employment relationship shall be treated as continuing intact while the Participant is an active employee of any Employer, is otherwise a
named individual deemed an Employee under Section 2(h), or is on military leave, sick leave or other bona fide leave of absence, as determined by the Committee in its discretion. 

  

	 	(iii)	 	Notwithstanding the general rule set forth in paragraph 7(b), above, the Committee retains the right to accelerate the vesting period of the Options at any time. 

  

	 	(e)	 	Termination of Employment or Service Due to Death 

  
 In the event of the death of the Participant, the estate or beneficiary of the Participant will have 120 days from the date of the Participant’s
death to exercise the Options, after which time the Options, to the extent vested and unexercised, and any Dividend Equivalent Rights will immediately lapse and forfeit to the Corporation. Notwithstanding, the Committee, in its sole discretion,
prior to the end of the 120 day period, may extend the term of the Options beyond the 120th day after the death of
the Participant. 
  

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	 	(f)	 	Rights as a Stockholder 

  
 A Participant, or an allowable transferee of a Participant, shall have no rights as a stockholder of the Corporation, including voting and dividend
rights, with respect to Options, until the date of issuance of a stock certificate in connection with the exercise of such Options. No adjustment shall be made for dividends (ordinary or extraordinary, whether in currency, securities, or other
property), distributions, or other rights for which the record date is prior to the date such stock certificate is issued. 
  

	 	(g)	 	Modification of Option Awards 

  
 Within the limitations of the Plan, the Committee may modify the terms of an Award or accept the cancellation of outstanding Awards for the issuance of a
new Award in substitution therefor. Notwithstanding the preceding sentence, except as provided in Section 8(g) with respect to Dividend Equivalent Rights, no modification of an Award shall, without the consent of the Participant, alter or impair any
rights or obligations under any such Award previously issued. 
  

	 	(h)	 	Other Provisions 

  
 An Award Agreement may contain such other provisions as the Committee in its discretion deems advisable which are not inconsistent with the terms of the
Plan. 
  

	8.	 	DIVIDEND EQUIVALENT RIGHTS 

  

	 	(a)	 	Dividend Equivalent Rights 

  
 Each Award of an Option shall include a Dividend Equivalent Right with respect to each optioned Share. Each Award of Dividend Equivalent Rights shall be
evidenced in the written Award Agreement which shall set forth the number of optioned Shares with respect to which Dividend Equivalent Rights are awarded and shall set forth the terms and conditions pertaining to the Dividend Equivalent Rights.

  

	 	(b)	 	Payment of Dividend Equivalent Rights 

  
 Payments of amounts pursuant to Dividend Equivalent Rights shall be made on the same day, or as soon thereafter as practicable, as the date on which
dividends are paid with respect to Shares. 
  

	 	(c)	 	Term 

  
 Each Dividend Equivalent Right shall be immediately vested. Each Dividend Equivalent Right shall be effective from the date of Award until the Option, with respect to which the Dividend Equivalent Right is issued, is
exercised, or is rescinded, forfeited or expires. 
  
 Upon the
exercise of the related Option, or upon its recession, expiration or forfeiture, all related Dividend Equivalent Rights shall be immediately terminated. 
  

 6 

	 	(d)	 	Nontransferability of Dividend Equivalent Rights 

  
 During the lifetime of the Participant, a Dividend Equivalent Right is neither assignable nor transferable. 
  

	 	(e)	 	Termination of Employment or Service for Any Reason Other Than Death 

  

	 	(i)	 	If a Participant ceases to be an Employee or ceases to perform services for the Corporation for any reason, or if for any other reason provided herein an Award becomes forfeitable,
all Dividend Equivalent Rights related to such Award, shall be immediately forfeited in accordance with Section 7 on the date the Participant’s employment or service with the Corporation terminates. 

  

	 	(ii)	 	For purposes of this Section 8(d), the employment relationship shall be treated as continuing intact while the Participant is an active employee of any Employer, is otherwise a
named individual deemed an Employee under Section 2(h), or is on military leave, sick leave or other bona fide leave of absence, as determined by the Committee in its discretion. 

  

	 	(f)	 	Termination of Employment or Service Due to Death 

  
 In the event of the death of a Participant, Dividend Equivalent Rights will continue for a period of 120 days after the date of death, and will be payable
to the estate or beneficiary of the Participant for that period. In general, at the end of the 120-day period all Dividend Equivalent Rights shall immediately terminate. Notwithstanding, the Committee, in its sole discretion, prior to the end of the
120 day period, may extend the term of the Dividend Equivalent Rights beyond the 120th day after the death of the
Participant. 
  

	 	(g)	 	Modification of Dividend Equivalent Rights 

  
 Within the limitations of the Plan, the Committee may modify, revoke or rescind the terms of a Dividend Equivalent Right under any Award. 
  

	 	(h)	 	Other Provisions 

  
 An Award Agreement may contain such other provisions with respect to a Dividend Equivalent Right as the Committee in its discretion deems advisable which
are not inconsistent with the terms of the Plan. 
  

	9.	 	TERM OF PLAN 

  
 The Plan shall expire for all purposes at the end of 21 years from the Effective Date, December 15, 1999, unless extended by the Board. 
  

 7 

	10.	 	RECAPITALIZATIONS, TAKEOVERS AND LIQUIDATIONS 

  

	 	(a)	 	Reorganizations 

  
 Notwithstanding any other provision of the Plan to the contrary, but subject to any required action by the stockholders of the Corporation, an automatic
adjustment shall be made to the class and/or number of Shares covered by the Plan, the number of Shares for which each outstanding Award pertains, and/or any other aspect of this Plan to prevent the dilution or enlargement of the rights of
Participants under this Plan in connection with any increase or decrease in the number of issued Shares resulting from the payment of a Common Stock dividend, a stock split, a reverse stock split or any other event which results in an increase in
the number of issued Shares effected without receipt of adequate consideration by the Corporation. The Committee shall memorialize such adjustments. 
  

	 	(b)	 	Mergers and Consolidations 

  
 Subject to any required action by the stockholders of the Corporation: 
  

	 	(i)	 	In the event the Corporation is a party to a merger or consolidation in which the Corporation is the surviving corporation, each outstanding Award shall pertain to the securities of
the Corporation to which a holder of the number of Shares subject to the Award would be entitled. 

  

	 	(c)	 	Change of Control 

  
 An Award Agreement may include a provision defining when a “change of control” of the Corporation is deemed to occur and stating the extent to
which such change of control affects the vesting of the Award to which such Award Agreement pertains. 
  

	 	(d)	 	Determination by the Committee 

  
 All adjustments described in this Section 10 shall be made by the Committee, whose determination shall be conclusive and binding on all persons.

  

	 	(e)	 	Limitation of Rights of Participant 

  
 Except as expressly provided in this Section 10, no Participant shall have any rights by reason of any payment of any stock dividend, stock split, reverse
stock split, or any other change in the number of shares of stock of any class, or by reason of any reorganization, consolidation, dissolution, liquidation, merger, exchange, split-up or reverse split-up, or spin-off of assets or stock of
another corporation. Any issuance by the Corporation of Shares, Options, Stock Appreciation Rights or securities convertible into Shares shall not affect, and no adjustment by reason thereof shall be made with respect to, Awards under the Plan.

  

	 	(f)	 	No Limitation on Rights of Corporation 

  
 The grant of an Award pursuant to the Plan shall not affect in any way the right or power of the Corporation to make adjustments, reclassifications,
reorganizations, or changes of its capital or business structure, or to merge or consolidate, or to dissolve, liquidate, sell, or transfer all or any part of its business or assets. 
  

 8 

	11.	 	SECURITIES LAW REQUIREMENTS 

  

	 	(a)	 	Legality of Issuance 

  
 No Share shall be issued in connection with the exercise of an Option unless and until the Committee has determined that any applicable provision of law
has been satisfied, including the appropriate passage of time that might be required. 
  

	 	(b)	 	Restrictions on Transfer; Representations of Participant; Legends 

  
 Regardless of whether the offering and sale of Shares under the Plan have been registered under any applicable securities laws, the Corporation may impose
restrictions upon the sale, pledge, or other transfer of such Shares (including the placement of appropriate legends on stock Certificates) if, in the judgment of the Corporation and its legal counsel, such restrictions are necessary or desirable to
achieve compliance with the provisions of any applicable securities laws or any other law. 
  
 Any determination by the Corporation and its counsel in connection with any of the matters set forth in this Section 11 shall be conclusive and binding on all persons. 
  

	 	(c)	 	Registration or Qualification of Securities 

  
 The Corporation may, but shall not be obligated to, register or qualify the offering or sale of Shares under any applicable law. 
  

	 	(d)	 	Exchange of Certificates 

  
 If, in the opinion of the Corporation and its counsel, any legend placed on a stock certificate representing Shares issued pursuant to the Plan is no
longer required, the Participant or the holder of such certificate shall be entitled to exchange such certificate for a certificate representing the same number of Shares but lacking such legend. 
  

	12.	 	PAYMENT FOR SHARE PURCHASES 

  
 Payment for Shares purchased pursuant to the Plan may be made in cash (in U.S. dollars) or, where expressly approved for the Participant by the Committee
and where permitted by law: 
  

	 	(a)	 	By check; 

  

	 	(b)	 	By cancellation of indebtedness of the Corporation to the Participant; 

  

	 	(c)	 	By surrender of Shares. Subsequent to the satisfaction of the Relevant Conditions, Shares surrendered must be either purchased Shares or Shares that have been held for at least six
months; 

  

	 	(d)	 	At the sole discretion of the Committee, by tender of a full recourse promissory note having such terms as may be approved by the Committee. 

  

 9 

	 	(e)	 	By waiver of compensation due or accrued to Participant for services rendered; 

  

	 	(f)	 	With respect only to purchases upon exercise of an Option, and provided that a public market for the Corporation’s stock exists: 

  

	 	(i)	 	Through a “same day sale” commitment from Participant and a broker-dealer that is a member of the National Association of Securities Dealers (an “NASD dealer”)
whereby Participant irrevocably elects to exercise the Option and to sell a portion of the Shares so purchased to pay for the Exercise Price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward the Exercise Price
directly to the Corporation; or 

  

	 	(ii)	 	Through a “margin” commitment from Participant and an NASD Dealer whereby Participant irrevocably elects to exercise the Option and to pledge the Shares so purchased to
the NASD Dealer in a margin account as security for a loan from the NASD Dealer in the amount of the Exercise Price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward the Exercise Price directly to the
Corporation; or 

  

	 	(g)	 	By any combination of the foregoing. 

  

	13.	 	AMENDMENT OF PLAN 

  
 The Board or the Committee may, from time to time, terminate, suspend or discontinue the Plan, in whole or in part, or revise or amend it in any respect
whatsoever including, but not limited to, the adoption of any amendments deemed necessary or advisable to qualify the Awards under any applicable securities laws or regulations issued thereunder, or to correct any defect or supply any omission or
reconcile any inconsistency in the Plan or in any Award granted under the Plan, with or without approval of the shareholders of the Corporation. The Board or the Committee may, at its discretion: 
  

	 	(a)	 	Increase the number of Shares subject to the Plan, other than any increase pursuant to Section 10; 

  

	 	(b)	 	Change the designation of the class of persons eligible to receive Awards; 

  

	 	(d)	 	Withdraw administration of the Plan from the Committee; 

  

	 	(e)	 	Extend the term of the Plan; or 

  

	 	(f)	 	Amend this Section 13 to defeat its purpose. 

  
 No amendment, termination or modification of the Plan shall, without the consent of the Participant, affect any Award previously granted. 
  

	14.	 	PRIVILEGES OF STOCK OWNERSHIP 

  
 A Participant shall have no rights of a shareholder of the Corporation with respect to any Shares issued under the Plan until the date a stock certificate
for such Shares is issued to the Participant. 
  

 10 

 After Shares are issued to the Participant, the Participant shall be a shareholder and have all the
rights of a shareholder with respect to such Shares, including the right to vote and receive all dividends or other distributions made or paid with respect to such Shares. 
  

	15.	 	TRANSFERABILITY 

  
 Awards granted under the Plan, and any interest therein, shall not be transferable or assignable by Participant, and may not be made subject to execution,
attachment, or similar process, otherwise than by will or by the laws of descent and distribution or as consistent with the specific Plan and Award Agreement provisions relating thereto. 
  

	16.	 	WITHHOLDING OF TAXES 

  

	 	(a)	 	General. Whenever Shares are to be issued under the Plan, the Corporation may require the Participant to remit to the Corporation an amount sufficient to satisfy any income
tax withholding tax requirements prior to the delivery of any certificate or certificates for such Shares. Whenever, under the Plan, payments in satisfaction of Awards are to be made in cash, such payment shall be net of an amount sufficient to
satisfy federal, state, and local withholding tax requirements. 

  

	 	(b)	 	Stock Withholding. When, under applicable tax laws, a Participant incurs tax liability in connection with the issuance of shares that is subject to tax withholding, the
Committee may allow the Participant to satisfy the minimum withholding tax obligation by electing to have the Corporation withhold from any Shares to be issued the specific number of Shares having a Fair Market Value equal to the minimum amount
required to be withheld, determined on the date that the amount of tax to be withheld is to be determined (the “Tax Date”). 

  

 11

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