Document:

Exhibit
10.14 

 

SAFETY
QUICK LIGHTING & FANS CORP.

 

2015
STOCK INCENTIVE PLAN

 

1.
Purpose

 

Safety
Quick Lighting & Fans Corp.’s 2015 Stock Incentive Plan is intended to promote the best interests of Safety Quick Lighting & Fans Corp. and its stockholders by (i) assisting the Corporation and its Affiliates in the recruitment and retention of persons
with ability and initiative, (ii) providing an incentive to such persons to contribute to the growth and success of the Corporation’s
businesses by affording such persons equity participation in the Corporation and (iii) associating the interests of such persons with
those of the Corporation and its Affiliates and stockholders.

 

2.
Definitions

 

As
used in this Plan the following definitions shall apply:

 

A.
“Affiliate” means (i) any Subsidiary, (ii) any Parent, (iii) any corporation, or trade or business (including, without
limitation, a partnership, limited liability company or other entity) which is directly or indirectly controlled fifty percent (50%)
or more (whether by ownership of stock, assets or an equivalent ownership interest or voting interest) by the Corporation or one of its
Affiliates, and (iv) any other entity in which the Corporation or any of its Affiliates has a material equity interest and which is designated
as an “Affiliate” by resolution of the Committee.

 

B.
“Award” means any Option or Stock Award granted hereunder.

 

C.
“Board” means the Board of Directors of the Corporation.

 

D.
“Code” means the Internal Revenue Code of 1986, and any amendments thereto.

 

E.
“Committee” means the Board or any Committee of the Board to which the Board has delegated any responsibility for
the implementation, interpretation or administration of this Plan.

 

F.
“Common Stock” means the common stock, no par value, of the Corporation.

 

G.
“Consultant” means (i) any person performing consulting or advisory services for the Corporation or any Affiliate,
or (ii) a director of an Affiliate.

 

H.
“Corporation” means Safety Quick Lighting & Fans Corp., a Florida corporation.

 

I.
“Corporation Law” means the Florida Business Corporation Act, as the same shall be amended from time to time.

 

J.
“Date of Grant” means the date that the Committee approves an Option grant; provided, that all terms of such grant,
including the amount of shares subject to the grant, exercise price and vesting are defined at such time.

 

K.
“Deferral Period” means the period of time during which Deferred Shares are subject to deferral limitations under
Section 7.D of this Plan.

 

    	1

     

    

 

 

L.
“Deferred Shares” means an award pursuant to Section 7.D of this Plan of the right to receive shares of Common Stock
at the end of a specified Deferral Period.

 

M.
“Director” means a member of the Board.

 

N.
“Eligible Person” means an employee of the Corporation or an Affiliate (including a corporation that becomes an Affiliate
after the adoption of this Plan), a Director or a Consultant to the Corporation or an Affiliate (including a corporation that becomes
an Affiliate after the adoption of this Plan).

 

O.
“Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

P.
“Fair Market Value” means, on any given date, the current fair market value of the shares of Common Stock as determined
as follows:

 

	 	(i)	If
    the Common Stock is traded on a national securities exchange, the closing price for the day of determination as quoted on such market
    or exchange, including the NASDAQ Global Market or NASDAQ Capital Market, which is the primary market or exchange for trading of
    the Common Stock or if no trading occurs on such date, the last day on which trading occurred, or such other appropriate date as
    determined by the Committee in its discretion, as reported in The Wall Street Journal or such other source as the Committee
    deems reliable;
	 	 	 
	 	(ii)	If
    the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, its Fair Market Value
    shall be the mean between the high and the low asked prices for the Common Stock for the day of determination; or
	 	 	 
	 	(iii)	In
    the absence of an established market for the Common Stock, Fair Market Value shall be determined by the Committee in good faith.

 

Q.
“Family Member” means a parent, child, spouse or sibling.

 

R.
“Incentive Stock Option” means an Option (or portion thereof) intended to qualify for special tax treatment under
Section 422 of the Code.

 

S.
“Nonqualified Stock Option” means an Option (or portion thereof) which is not intended or does not for any reason
qualify as an Incentive Stock Option.

 

T.
“Option” means any option to purchase shares of Common Stock granted under this Plan.

 

U.
“Parent” means any corporation (other than the Corporation) in an unbroken chain of corporations ending with the Corporation
if each of the corporations (other than the Corporation) owns stock possessing at least fifty percent (50%) of the total combined voting
power of all classes of stock in one of the other corporations in such chain.

 

V.
“Participant” means an Eligible Person who (i) is selected by the Committee or an authorized officer of the Corporation
to receive an Award and (ii) is party to an agreement setting forth the terms of the Award, as appropriate.

 

W.
“Performance Agreement” means an agreement described in Section 8 of this Plan.

 

    	2

     

    

 

X.
“Performance Objectives” means the performance objectives established by the Committee pursuant to this Plan for Participants
who have received grants of Awards. Performance Objectives may be described in terms of Corporation-wide objectives or objectives that
are related to the performance of the individual Participant or the Affiliate, division, department or function within the Corporation
or Affiliate in which the Participant is employed or has responsibility. Any Performance Objectives applicable to Awards to the extent
that such an Award is intended to qualify as “Performance Based Compensation” under Section 162(m) of the Code shall be limited
to specified levels of or increases in the Corporation’s or a business unit’s return on equity, earnings per share, total
earnings, earnings growth, return on capital, return on assets, economic value added, earnings before interest and taxes, earnings before
interest, taxes, depreciation and amortization, sales growth, gross margin return on investment, increase in the Fair Market Price of
the shares, net operating profit, cash flow (including, but not limited to, operating cash flow and free cash flow), cash flow return
on investments (which equals net cash flow divided by total capital), internal rate of return, increase in net present value or expense
targets. The Awards intended to qualify as “Performance Based Compensation” under Section 162(m) of the Code shall be pre-established
in accordance with applicable regulations under Section 162(m) of the Code and the determination of attainment of such goals shall be
made by the Committee. If the Committee determines that a change in the business, operations, corporate structure or capital structure
of the Corporation (including an event described in Section 9), or the manner in which it conducts its business, or other events or circumstances
render the Performance Objectives unsuitable, the Committee may modify such Performance Objectives or the related minimum acceptable
level of achievement, in whole or in part, as the Committee deems appropriate and equitable; provided, however, that no such modification
shall be made to an Award intended to qualify as “Performance Based Compensation” under Section 162(m) of the Code unless
the Committee determines that such modification will not result in loss of such qualification or the Committee determines that loss of
such qualification is in the best interests of the Corporation.

 

Y.
“Performance Period” means a period of time established under Section 8 of this Plan within which the Performance
Objectives relating to a Stock Award are to be achieved.

 

Z.
“Performance Share” means an award pursuant to Section 8 of this Plan of the right to receive shares of Common Stock
upon the achievement of specified Performance Objectives.

 

AA.
“Plan” means this Safety Quick Lighting & Fans Corp., 2014 Stock Incentive Plan.

 

BB.
“Repricing” means, other than in connection with an event described in Section 9 of this Plan, (i) lowering the exercise
price of an Option after it has been granted or (ii) canceling an Option at a time when the exercise price exceeds the then-Fair Market
Value of the Common Stock in exchange for another Option.

 

CC.
“Restricted Stock Award” means an award of Common Stock under Section 7.B.

 

DD.
“Securities Act” means the Securities Act of 1933, as amended.

 

EE.
“Stock Award” means a Stock Bonus Award, Restricted Stock Award, Stock Appreciation Right, Deferred Shares, or Performance
Shares.

 

FF.
“Stock Bonus Award” means an award of Common Stock under Section 7.A.

 

GG.
“Stock Award Agreement” means a written agreement between the Corporation and a Participant setting forth the specific
terms and conditions of a Stock Award granted to the Participant under Section 7. Each Stock Award Agreement shall be subject to the
terms and conditions of this Plan and shall include such terms and conditions as the Committee shall authorize.

 

    	3

     

    

 

HH.
“Stock Option Agreement” means an agreement (written or electronic) between the Corporation and a Participant setting
forth the specific terms and conditions of an Option granted to the Participant. Each Stock Option Agreement shall be subject to the
terms and conditions of this Plan and shall include such terms and conditions as the Committee shall authorize.

 

II.
“Subsidiary” means any corporation (other than the Corporation) in an unbroken chain of corporations beginning with
the Corporation if each of the corporations (other than the last corporation in the unbroken chain) owns stock possessing at least fifty
percent (50%) of the total combined voting power of all classes of stock in one of the other corporations in such chain.

 

JJ.
“Ten Percent Owner” means any Eligible Person owning at the time an Option is granted more than ten percent (10%)
of the total combined voting power of all classes of stock of the Corporation or of a Parent or Subsidiary. An individual shall, in accordance
with Section 424(d) of the Code, be considered to own any voting stock owned (directly or indirectly) by or for such Eligible Person’s
brothers, sisters, spouse, ancestors and lineal descendants and any voting stock owned (directly or indirectly) by or for a corporation,
partnership, estate or trust shall be considered as being owned proportionately by or for its stockholders, partners, or beneficiaries.

 

3.
implementation, interpretation and Administration

 

A.
Delegation to Board Committee. The Board shall have the sole authority to implement, interpret, and/or administer this Plan unless
the Board delegates all or any portion of its authority to implement, interpret, and/or administer this Plan to a Committee. To the extent
not prohibited by the Certificate of Incorporation or Bylaws of the Corporation, the Board may delegate all or a portion of its authority
to implement, interpret, and/or administer this Plan to a Committee of the Board appointed by the Board and constituted in compliance
with the applicable Corporation Law. The Committee shall consist solely of two (2) or more Directors who are (i) Non-Employee Directors
(within the meaning of Rule 16b-3 under the Exchange Act) for purposes of exercising administrative authority with respect to Awards
granted to Eligible Persons who are subject to Section 16 of the Exchange Act; (ii) to the extent required by the rules of the market
on which the Corporation’s shares are traded or the exchange on which the Corporation’s shares are listed, “independent”
within the meaning of such rules; and (iii) at such times as an Award under this Plan by the Corporation is subject to Section 162(m)
of the Code (to the extent relief from the limitation of Section 162(m) of the Code is sought with respect to Awards and administration
of the Awards by a committee of “outside directors” is required to receive such relief), “outside directors”
within the meaning of Section 162(m) of the Code.

 

B.
Delegation to Officers. The Committee may delegate to one or more officers of the Corporation the authority to grant and administer
Awards to Eligible Persons who are not Directors or executive officers of the Corporation; provided that the Committee shall have fixed
the total number of shares of Common Stock that may be subject to such Awards. No officer holding such a delegation is authorized to
grant Awards to himself or herself. In addition to the Committee, the officer or officers to whom the Committee has delegated the authority
to grant and administer Awards shall have all powers delegated to the Committee with respect to such Awards.

 

C.
Powers of the Committee. Subject to the provisions of this Plan, and in the case of a Committee appointed by the Board, the specific
duties delegated to such Committee, the Committee (and the officers to whom the Committee has delegated such authority) shall have the
authority:

 

	 	(i)	To
    construe and interpret all provisions of this Plan and all Stock Option Agreements, Stock Award Agreements, Performance Agreements,
    or any other agreement under this Plan.

 

    	4

     

    

 

	 	(ii)	To
    determine the Fair Market Value of Common Stock in the absence of an established market for the Common Stock.
	 	 	 
	 	(iii)	To
    select the Eligible Persons to whom Awards are granted from time to time hereunder.
	 	 	 
	 	(iv)	To
    determine the number of shares of Common Stock covered by an Award; to determine whether an Option shall be an Incentive Stock Option
    or Nonqualified Stock Option; and to determine such other terms and conditions, not inconsistent with the terms of this Plan, of
    each such Award. Such terms and conditions include, but are not limited to, the exercise price of an Option, purchase price of Common
    Stock subject to a Stock Award, the time or times when Options or a Stock Award may be exercised or Common Stock issued thereunder,
    the vesting schedule of an Option, the right of the Corporation to repurchase Common Stock issued pursuant to the exercise of an
    Option or a Stock Award and other restrictions or limitations (in addition to those contained in this Plan) on the forfeitability
    or transferability of Options, Stock Awards or Common Stock issued upon exercise of an Option or pursuant to a Stock Award. Such
    terms may include conditions which shall be determined by the Committee and need not be uniform with respect to Participants.
	 	 	 
	 	(v)	To
    accelerate the time at which any Option or Stock Award may be exercised, or the time at which a Stock Award or Common Stock issued
    under this Plan may become transferable or non-forfeitable.
	 	 	 
	 	(vi)	To
    determine whether and under what circumstances an Option or Stock Award may be settled in cash, shares of Common Stock or other property
    under Section 6.H instead of in Common Stock.
	 	 	 
	 	(vii)	To
    waive, amend, cancel, extend, renew, accept the surrender of, modify or accelerate the vesting of or lapse of restrictions on all
    or any portion of an outstanding Award. Except as otherwise provided by this Plan, Stock Option Agreement, Stock Award Agreement
    or Performance Agreement or as required to comply with applicable law, regulation or rule, no amendment, cancellation or modification
    shall, without a Participant’s consent, adversely affect any rights of the Participant; provided, however, that (x) an amendment
    or modification that may cause an Incentive Stock Option to become a Nonqualified Stock Option shall not be treated as adversely
    affecting the rights of the Participant and (y) any other amendment or modification of any Stock Option Agreement, Stock Award Agreement
    or Performance Agreement that does not, in the opinion of the Committee, adversely affect any rights of any Participant, shall not
    require such Participant’s consent. Notwithstanding the foregoing, the restrictions on the Repricing of Options, as set forth
    in this Plan, may not be waived.
	 	 	 
	 	(viii)	To
    prescribe the form of Stock Option Agreements, Stock Award Agreements, Performance Agreements, or any other agreements under this
    Plan; to adopt policies and procedures for the exercise of Options or Stock Awards, including the satisfaction of withholding obligations;
    to adopt, amend, and rescind policies and procedures pertaining to the administration of this Plan; and to make all other determinations
    necessary or advisable for the administration of this Plan. Except for the due execution of the award agreement by both the Corporation
    and the Participant, the Award’s effectiveness will not be dependent on any signature unless specifically so provided in the
    award agreement.

 

The
express grant in this Plan of any specific power to the Committee shall not be construed as limiting any power or authority of the Committee;
provided that the Committee may not exercise any right or power reserved to the Board. Any decision made, or action taken, by the Committee
or in connection with the implementation, interpretation, and administration of this Plan shall be final, conclusive and binding on all
persons having an interest in this Plan.

 

    	5

     

    

 

4.
Eligibility

 

A.
Eligibility for Awards. Awards, other than Incentive Stock Options, may be granted to any Eligible Person selected by the Committee.
Incentive Stock Options may be granted only to employees of the Corporation or a Parent or Subsidiary.

 

B.
Eligibility of Consultants. A Consultant shall be an Eligible Person only if the offer or sale of the Corporation’s securities
would be eligible for registration on Form S-8 Registration Statement (or any successor form) because of the identity and nature of the
service provided by such person, unless the Corporation determines that an offer or sale of the Corporation’s securities to such
person will satisfy another exemption from the registration under the Securities Act and complies with the securities laws of all other
jurisdictions applicable to such offer or sale. Accordingly, an Award may not be granted pursuant to this Plan for the purpose of the
Corporation obtaining financing or for investor relations purposes.

 

C.
Substitution Awards. The Committee may make Awards under this Plan by assumption, in substitution or replacement of performance
shares, phantom shares, stock awards, stock options or similar awards granted by another entity (including an Affiliate) in connection
with a merger, consolidation, acquisition of property or stock or similar transaction. Notwithstanding any provision of this Plan (other
than the maximum number of shares of Common Stock that may be issued under this Plan), the terms of such assumed, substituted, or replaced
Awards shall be as the Committee, in its discretion, determines is appropriate.

 

5.
Common Stock Subject to Plan

 

A.
Share Reserve and Limitations on Grants. The maximum aggregate number of shares of Common Stock that may be (i) issued under this
Plan pursuant to the exercise of Options (without regard to whether payment on exercise of the Stock Option is made in cash or shares
of Common Stock), (ii) issued pursuant to Stock Awards shall be 5,000,000 shares. The number of shares of Common Stock subject to the
Plan shall be subject to adjustment as provided in Section 9. Notwithstanding any provision hereto to the contrary, shares subject to
the Plan shall include shares forfeited in a prior year as provided herein. For purposes of determining the number of shares of Common
Stock available under this Plan, shares of Common Stock withheld by the Corporation to satisfy applicable tax withholding obligations
pursuant to Section 10 of this Plan shall be deemed issued under this Plan. No single participant may receive more than 25% of the total
Options awarded in any single year.

 

B.
Reversion of Shares. If an Option or Stock Award is terminated, expires or becomes unexercisable, in whole or in part, for any
reason, the unissued or unpurchased shares of Common Stock which were subject thereto shall become available for future grant under this
Plan. Shares of Common Stock that have been actually issued under this Plan shall not be returned to the share reserve for future grants
under this Plan; except that shares of Common Stock issued pursuant to a Stock Award which are forfeited to the Corporation or repurchased
by the Corporation at the original purchase price of such shares, shall be returned to the share reserve for future grant under this
Plan.

 

C.
Source of Shares. Common Stock issued under this Plan may be shares of authorized and unissued Common Stock or shares of previously
issued Common Stock that have been reacquired by the Corporation.

 

    	6

     

    

 

6.
Options

 

A.
Award. In accordance with the provisions of Section 4, the Committee will designate each Eligible Person to whom an Option is
to be granted and will specify the number of shares of Common Stock covered by such Option. The Stock Option Agreement shall specify
whether the Option is an Incentive Stock Option or Nonqualified Stock Option, the exercise price of such Option, the vesting schedule
applicable to such Option, the expiration date of such Option, events of termination of such Option, and any other terms of such Option.
No Option that is intended to be an Incentive Stock Option shall be invalid for failure to qualify as an Incentive Stock Option.

 

B.
Option Price. The exercise price per share for Common Stock subject to an Option shall be determined by the Committee, but shall
comply with the following:

 

	 	(i)	The
  exercise price per share for Common Stock subject to an Option shall not be less than one hundred percent (100%) of the Fair Market
  Value on the date of grant.
	 	(ii)	The
  exercise price per share for Common Stock subject to an Incentive Stock Option granted to a Participant who is deemed to be a Ten Percent
  Owner on the date such option is granted, shall not be less than one hundred ten percent (110%) of the Fair Market Value on the date
  of grant.

 

C.
Maximum Option Period. The maximum period during which an Option may be exercised shall be ten (10) years from the date such Option
was granted. In the case of an Incentive Stock Option that is granted to a Participant who is or is deemed to be a Ten Percent Owner
on the date of grant, such Option shall not be exercisable after the expiration of five (5) years from the date of grant.

 

D.
Maximum Value of Options which are Incentive Stock Options. To the extent that the aggregate Fair Market Value of the Common Stock
with respect to which Incentive Stock Options granted to any Participant are exercisable for the first time during any calendar year
(under all stock option plans of the Corporation or any Parent or Subsidiary) exceeds $100,000 (or such other amount provided in Section
422 of the Code), the Options shall not be deemed to be Incentive Stock Options. For purposes of this section, the Fair Market Value
of the Common Stock will be determined as of the time the Incentive Stock Option with respect to the Common Stock is granted. This section
will be applied by taking Incentive Stock Options into account in the order in which they are granted.

 

E.
Nontransferability. Options granted under this Plan which are intended to be Incentive Stock Options shall be nontransferable
except by will or by the laws of descent and distribution and, during the lifetime of the Participant, shall be exercisable by only the
Participant to whom the Incentive Stock Option is granted. Except to the extent transferability of a Nonqualified Stock Option is provided
for in the Stock Option Agreement or is approved by the Committee, during the lifetime of the Participant to whom the Nonqualified Stock
Option is granted, such Option may be exercised only by the Participant. If the Stock Option Agreement so provides or the Committee so
approves, a Nonqualified Stock Option may be transferred by a Participant through a gift or domestic relations order to the Participant’s
family members to the extent such transfer complies with applicable securities laws and regulations and provided that such transfer is
not a transfer for value (within the meaning of applicable securities laws and regulations). The holder of a Nonqualified Stock Option
transferred pursuant to this section shall be bound by the same terms and conditions that governed the Option during the period that
it was held by the Participant. No right or interest of a Participant in any Option shall be liable for, or subject to, any lien, obligation,
or liability of such Participant, unless such obligation is to the Corporation itself or to an Affiliate.

 

F.
Vesting. Options will vest as provided in the Stock Option Agreement.

 

G.
Termination. Options will terminate as provided in the Stock Option Agreement.

 

    	7

     

    

 

H.
Exercise. Subject to the provisions of this Plan and the applicable Stock Option Agreement, an Option may be exercised to the
extent vested in whole at any time or in part from time to time at such times and in compliance with such requirements as the Committee
shall determine. A partial exercise of an Option shall not affect the right to exercise the Option from time to time in accordance with
this Plan and the applicable Stock Option Agreement with respect to the remaining shares subject to the Option. An Option may not be
exercised with respect to fractional shares of Common Stock. The Participant may face certain restrictions on his/her ability to exercise
Options and/or sell underlying shares when such Participant is potentially in possession of insider information. The Corporation will
make the Participant aware of any formal insider trading policy it adopts, and the provisions of such insider trading policy (including
any amendments thereto) shall be binding upon the Participant.

 

I.
Payment. Unless otherwise provided by the Stock Option Agreement, payment of the exercise price for an Option shall be made in
cash or a cash equivalent acceptable to the Committee or if the Common Stock is traded on an established securities market, by payment
of the exercise price by a broker-dealer or by the Option holder with cash advanced by the broker-dealer if the exercise notice is accompanied
by the Option holder’s written irrevocable instructions to deliver the Common Stock acquired upon exercise of the Option to the
broker-dealer or by delivery of the Common Stock to the broker-dealer with an irrevocable commitment by the broker-dealer to forward
the exercise price to the Corporation. With the consent of the Committee, payment of all or a part of the exercise price of an Option
may also be made (i) by surrender to the Corporation (or delivery to the Corporation of a properly executed form of attestation of ownership)
of shares of Common Stock that have been held for such period prior to the date of exercise as is necessary to avoid adverse accounting
treatment to the Corporation, or (ii) any other method acceptable to the Committee. If Common Stock is used to pay all or part of the
exercise price, the sum of the cash or cash equivalent and the Fair Market Value (determined as of the date of exercise) of the shares
surrendered must not be less than the Option price of the shares for which the Option is being exercised.

 

J.
Stockholder Rights. No Participant shall have any rights as a stockholder with respect to shares subject to an Option until the
date of exercise of such Option and the certificate for shares of Common Stock to be received on exercise of such Option has been issued
by the Corporation.

 

K.
Disposition and Stock Certificate Legends for Incentive Stock Option Shares. A Participant shall notify the Corporation of any
sale or other disposition of Common Stock acquired pursuant to an Incentive Stock Option if such sale or disposition occurs (i) within
two years of the grant of an Option or (ii) within one year of the issuance of the Common Stock to the Participant. Such notice shall
be in writing and directed to the Chief Financial Officer of the Corporation or is his/her absence, the Chief Executive Officer. The
Corporation may require that certificates evidencing shares of Common Stock purchased upon the exercise of Incentive Stock Options issued
under this Plan be endorsed with a legend in substantially the following form:

 

THE
SHARES EVIDENCED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO ___, 20___, IN THE ABSENCE OF A WRITTEN STATEMENT FROM THE
CORPORATION TO THE EFFECT THAT THE CORPORATION IS AWARE OF THE FACTS OF SUCH SALE OR TRANSFER.

 

The
blank contained in this legend shall be filled in with the date that is the later of (i) one year and one day after the date of the exercise
of such Incentive Stock Option or (ii) two years and one day after the grant of such Incentive Stock Option.

 

L.
No Repricing. In no event shall the Committee permit a Repricing of any Option without the approval of the stockholders of the
Corporation.

 

    	8

     

    

 

7.
Stock Awards

 

A.
Stock Bonus Awards. Stock Bonus Awards may be granted by the Committee. Each Stock Award Agreement for a Stock Bonus Award shall
be in such form and shall contain such terms and conditions (including provisions relating to consideration, vesting, reacquisition of
shares following termination, and transferability of shares) as the Committee shall deem appropriate. The terms and conditions of Stock
Award Agreements for Stock Bonus Awards may change from time to time and need not be uniform with respect to Participants, and the terms
and conditions of separate Stock Bonus Awards need not be identical.

 

B.
Restricted Stock Awards. Restricted Stock Awards may be granted by the Committee. Each Stock Award Agreement for a Restricted
Stock Award shall be in such form and shall contain such terms and conditions (including provisions relating to purchase price, consideration,
vesting, reacquisition of shares following termination, and transferability of shares) as the Committee shall deem appropriate. The terms
and conditions of the Stock Award Agreements for Restricted Stock Awards may change from time to time and need not be uniform with respect
to Participants, and the terms and conditions of separate Restricted Stock Awards need not be identical. Vesting of any grant of Restricted
Stock Awards may be further conditioned upon the attainment of Performance Objectives established by the Committee in accordance with
the applicable provisions of Section 8 of this Plan regarding Performance Shares.

 

C.
Deferred Shares. The Committee may authorize grants of Deferred Shares to Participants upon the recommendation of the Corporation’s
management, and upon such terms and conditions as the Committee may determine in accordance with the following provisions:

 

	 	(i)	Each
  grant shall constitute the agreement by the Corporation to issue or transfer shares of Common Stock to the Participant in the future
  in consideration of the performance of services, subject to the fulfillment during the Deferral Period of such conditions as the Committee
  may specify.
	 	 	 
	 	(ii)	Each
  grant may be made without additional consideration from the Participant or in consideration of a payment by the Participant that is
  less than the Fair Market Value on the date of grant.
	 	 	 
	 	(iii)	Each
  grant shall provide that the Deferred Shares covered thereby shall be subject to a Deferral Period, which shall be fixed by the Committee
  on the date of grant, and any grant or sale may provide for the earlier termination of such period in the event of a change in control
  of the Corporation or other similar transaction or event.
	 	 	 
	 	(iv)	During
  the Deferral Period, the Participant shall not have any right to transfer any rights under the subject Award, shall not have any rights
  of ownership in the Deferred Shares and shall not have any right to vote such shares, but the Committee may on or after the date of
  grant, authorize the payment of dividend or other distribution equivalents on such shares in cash or additional shares on a current,
  deferred or contingent basis.
	 	 	 
	 	(v)	Any
  grant, or the vesting thereof, may be further conditioned upon the attainment of Performance Objectives established by the Committee
  in accordance with the applicable provisions of Section 8 of this Plan regarding Performance Shares.
	 	 	 
	 	(vi)	Each
  grant shall be evidenced by an agreement delivered to and accepted by the Participant and containing such terms and provisions as the
  Committee may determine consistent with this Plan. The terms and conditions of the agreements for Deferred Shares may change from time
  to time and need not be uniform with respect to Participants, and the terms and conditions of separate Deferred Shares need not be
  identical.

 

    	9

     

    

 

8.
Performance Shares

 

A.
The Committee may authorize grants of Performance Shares, which shall become payable to the Participant upon the achievement of specified
Performance Objectives, upon such terms and conditions as the Committee may determine in accordance with the following provisions:

 

	 	(i)	Each
  grant shall specify the number of Performance Shares to which it pertains, which may be subject to adjustment to reflect changes in
  compensation or other factors.
	 	 	 
	 	(ii)	The
  Performance Period with respect to each Performance Share shall commence on the date established by the Committee and may be subject
  to earlier termination in the event of a change in control of the Corporation or similar transaction or event.
	 	 	 
	 	(iii)	Each
  grant shall specify the Performance Objectives that are to be achieved by the Participant.
	 	 	 
	 	(iv)	Each
  grant may specify in respect of the specified Performance Objectives a minimum acceptable level of achievement below which no payment
  will be made and may set forth a formula for determining the amount of any payment to be made if performance is at or above such minimum
  acceptable level but falls short of the maximum achievement of the specified Performance Objectives.
	 	 	 
	 	(v)	Each
  grant shall specify the time and manner of payment of Performance Shares that shall have been earned, and any grant may specify that
  any such amount may be paid by the Corporation in cash, shares of Common Stock or any combination thereof and may either grant to the
  Participant or reserve to the Committee the right to elect among those alternatives.
	 	 	 
	 	(vi)	Any
  grant of Performance Shares may specify that the amount payable with respect thereto may not exceed a maximum specified by the Committee
  on the date of grant.
	 	 	 
	 	(vii)	Any
  grant of Performance Shares may provide for the payment to the Participant of dividend or other distribution equivalents thereon in
  cash or additional shares of Common Stock on a current, deferred or contingent basis.
	 	 	 
	 	(viii)	If
  provided in the terms of the grant and subject to the requirements of Section 162(m) of the Code (in the case of awards intended to
  qualify for exception therefrom), the Committee may adjust Performance Objectives and the related minimum acceptable level of achievement
  if, in the sole judgment of the Committee, events or transactions have occurred after the date of grant that are unrelated to the performance
  of the Participant and result in distortion of the Performance Objectives or the related minimum acceptable level of achievement.
	 	 	 
	 	(ix)	Each
  grant shall be evidenced by an agreement that shall be delivered to and accepted by the Participant, which shall state that the Performance
  Shares are subject to all of the terms and conditions of this Plan and such other terms and provisions as the Committee may determine
  consistent with this Plan. The terms and conditions of the agreements for Performance Shares may change from time to time and need
  not be uniform with respect to Participants, and the terms and conditions of separate Performance Shares need not be identical.
	 	 	 
	 	(x)	Until
  the achievement of the Performance Objectives and the resulting issuance of the Performance Shares, the Participant shall not have
  any rights as a stockholder in the Performance Shares and shall not have any right to vote such shares, but the Committee may on or
  after the date of grant, authorize the payment of dividend or other distribution equivalents on such shares in cash or additional shares
  on a current, deferred or contingent basis.

 

    	10

     

    

 

9.
Changes in Capital Structure

 

A.
No Limitations of Rights. The existence of outstanding Awards shall not affect in any way the right or power of the Corporation
or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Corporation’s
capital structure or its business, or any merger or consolidation of the Corporation, or any issuance of bonds, debentures, preferred
or prior preference stock ahead of or affecting the Common Stock or the rights thereof, or the dissolution or liquidation of the Corporation,
or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar
character or otherwise.

 

B.
Changes in Capitalization. If the Corporation shall effect a subdivision or consolidation of shares or other capital readjustment,
the payment of a stock dividend, or other increase or reduction of the number of shares of the Common Stock outstanding, without receiving
consideration therefore in money, services or property, then (i) the number, class, and per share price of shares of Common Stock subject
to outstanding Options and other Awards hereunder and (ii) the number of and class of shares then reserved for issuance under this Plan
and the maximum number of shares for which Awards may be granted to a Participant during a specified time period shall be appropriately
and proportionately adjusted. The conversion of convertible securities of the Corporation shall not be treated as effected “without
receiving consideration.” The Committee shall make such adjustments, and its determinations shall be final, binding and conclusive.

 

C.
Merger, Consolidation or Asset Sale. If the Corporation is merged or consolidated with another entity or sells or otherwise disposes
of substantially all of its assets to another company while Options or Stock Awards remain outstanding under this Plan, unless provisions
are made in connection with such transaction for the continuance of this Plan and/or the assumption or substitution of such Options or
Stock Awards with new options or stock awards covering the stock of the successor company, or parent or subsidiary thereof, with appropriate
adjustments as to the number and kind of shares and prices, then all outstanding Options and Stock Awards which have not been continued,
assumed or for which a substituted award has not been granted shall, whether or not vested or then exercisable, unless otherwise specified
in the Stock Option Agreement or Stock Award Agreement, terminate immediately as of the effective date of any such merger, consolidation
or sale.

 

D.
Limitation on Adjustment. Except as previously expressly provided, neither the issuance by the Corporation of shares of stock
of any class, or securities convertible into shares of stock of any class, for cash or property, or for labor or services either upon
direct sale or upon the exercise of rights or warrants to subscribe therefor, or upon conversion of shares or obligations of the Corporation
convertible into such shares or other securities, nor the increase or decrease of the number of authorized shares of stock, nor the addition
or deletion of classes of stock, shall affect, and no adjustment by reason thereof shall be made with respect to, the number, class or
price of shares of Common Stock then subject to outstanding Options or Stock Awards.

 

    	11

     

    

 

10.
Withholding of Taxes

 

The
Corporation or an Affiliate shall have the right, before any certificate for any Common Stock is delivered, to deduct or withhold from
any payment owed to a Participant any amount that is necessary in order to satisfy any withholding requirement that the Corporation or
Affiliate in good faith believes is imposed upon it in connection with U.S federal, state, or local taxes, including transfer taxes,
as a result of the issuance of, or lapse of restrictions on, such Common Stock, or otherwise require such Participant to make provision
for payment of any such withholding amount. Subject to such conditions as may be established by the Committee, the Committee may permit
a Participant to (i) have Common Stock otherwise issuable under an Option or Stock Award withheld to the extent necessary to comply with
minimum statutory withholding rate requirements; (ii) tender back to the Corporation shares of Common Stock received pursuant to an Option
or Stock Award to the extent necessary to comply with minimum statutory withholding rate requirements for supplemental income; (iii)
deliver to the Corporation previously acquired Common Stock; (iv) have funds withheld from payments of wages, salary or other cash compensation
due the Participant; (v) pay the Corporation or its Affiliate in cash, in order to satisfy part or all of the obligations for any taxes
required to be withheld or otherwise deducted and paid by the Corporation or its Affiliate with respect to the Option of Stock Award;
or (vi) establish a 10b5-1 trading plan for withheld stock designed to facilitate the sale of stock in connection with the vesting of
such shares, the proceeds of which shall be utilized to make all applicable withholding payments in a manner to be coordinated by the
Corporation’s Chief Financial Officer.

 

11.
Compliance with Law and Approval of Regulatory Bodies

 

A.
General Requirements. No Option or Stock Award shall be exercisable, no Common Stock shall be issued, no certificates for shares
of Common Stock shall be delivered, and no payment shall be made under this Plan except in compliance with all applicable federal and
state laws and regulations (including, without limitation, withholding tax requirements), any listing agreement to which the Corporation
is a party, and the rules of all domestic stock exchanges or quotation systems on which the Corporation’s shares may be listed.
The Corporation shall have the right to rely on an opinion of its counsel as to such compliance. In the absence of an effective and current
registration statement on an appropriate form under the Securities Act, or a specific exemption from the registration requirements of
the Securities Act, shares of Common Stock issued under this Plan shall be restricted shares. Any share certificate issued to evidence
Common Stock when a Stock Award is granted or for which an Option is exercised may bear such restrictive legends and statements as the
Committee may deem advisable to assure compliance with federal and state laws and regulations. No Option or Stock Award shall be exercisable,
no Stock Award shall be granted, no Common Stock shall be issued, no certificate for shares shall be delivered, and no payment shall
be made under this Plan until the Corporation has obtained such consent or approval as the Committee may deem advisable from regulatory
bodies having jurisdiction over such matters.

 

B.
Participant Representations. The Committee may require that a Participant, as a condition to receipt or exercise of a particular
award, execute and deliver to the Corporation a written statement, in form satisfactory to the Committee, in which the Participant represents
and warrants that the shares are being acquired for such person’s own account, for investment only and not with a view to the resale
or distribution thereof. The Participant shall, at the request of the Committee, be required to represent and warrant in writing that
any subsequent resale or distribution of shares of Common Stock by the Participant shall be made only pursuant to either (i) a registration
statement on an appropriate form under the Securities Act of 1933, which registration statement has become effective and is current with
regard to the shares being sold, or (ii) a specific exemption from the registration requirements of the Securities Act of 1933, but in
claiming such exemption the Participant shall, prior to any offer of sale or sale of such shares, obtain a prior favorable written opinion
of counsel, in form and substance satisfactory to counsel for the Corporation, as to the application of such exemption thereto.

 

    	12

     

    

 

12.
General Provisions

 

A.
Effect on Employment and Service. Neither the adoption of this Plan, its operation, nor any documents describing or referring
to this Plan (or any part thereof) shall (i) confer upon any individual any right to continue in the employ or service of the Corporation
or an Affiliate, (ii) in any way affect any right and power of the Corporation or an Affiliate to change an individual’s duties
or terminate the employment or service of any individual at any time with or without assigning a reason therefor or (iii) except to the
extent the Committee grants an Option or Stock Award to such individual, confer on any individual the right to participate in the benefits
of this Plan.

 

B.
Use of Proceeds. The proceeds received by the Corporation from any sale of Common Stock pursuant to this Plan shall be used for
general corporate purposes.

 

C.
Unfunded Plan. This Plan, insofar as it provides for grants, shall be unfunded, and the Corporation shall not be required to segregate
any assets that may at any time be represented by grants under this Plan. Any liability of the Corporation to any Participant with respect
to any grant under this Plan shall be based solely upon any contractual obligations that may be created pursuant to this Plan. No such
obligation of the Corporation shall be deemed to be secured by any pledge of, or other encumbrance on, any property of the Corporation.

 

D.
Rules of Construction. Headings are given to the Sections of this Plan solely as a convenience to facilitate reference. The reference
to any statute, regulation, or other provision of law shall be construed to refer to any amendment to or successor of such provision
of law.

 

E.
Choice of Law. This Plan and all Stock Option Agreements, Stock Award Agreements, and Performance Agreements (or any other agreements)
entered into under this Plan shall be interpreted under the Corporation Law excluding (to the greatest extent permissible by law) any
rule of law that would cause the application of the laws of any jurisdiction other than the Corporation Law.

 

F.
Fractional Shares. The Corporation shall not be required to issue fractional shares pursuant to this Plan. The Committee may provide
for elimination of fractional shares or the settlement of such fractional shares in cash.

 

G.
Foreign Employees. In order to facilitate the making of any grant or combination of grants under this Plan, the Committee may
provide for such special terms for Awards to Participants who are foreign nationals, or who are employed by the Corporation or any Affiliate
outside of the United States, as the Committee may consider necessary or appropriate to accommodate differences in local law, tax policy
or custom. Moreover, the Committee may approve such supplements to, or amendments, restatements or alternative versions of, this Plan
as it may consider necessary or appropriate for such purposes without thereby affecting the terms of this Plan, as then in effect, unless
this Plan could have been amended to eliminate such inconsistency without further approval by the stockholders of the Corporation.

 

13.
Amendment and Termination

 

The
Board may amend or terminate this Plan from time to time; provided, however, stockholder approval shall be required for any amendment
that (i) increases the aggregate number of shares of Common Stock that may be issued under this Plan, except as contemplated herein;
(ii) changes the class of employees eligible to receive Incentive Stock Options; (iii) modifies the restrictions on Repricings set forth
in this Plan; or (iv) is required by the terms of any applicable law, regulation or rule, including the rules of any market on which
the Corporation shares are traded or exchange on which the Corporation shares are listed. Except as specifically permitted by this Plan,
any Stock Option Agreement or any Stock Award Agreement or as required to comply with applicable law, regulation or rule, no amendment
shall, without a Participant’s consent, adversely affect any rights of such Participant under any Option or Stock Award outstanding
at the time such amendment is made; provided, however, that an amendment that may cause an Incentive Stock Option to become a Nonqualified
Stock Option shall not be treated as adversely affecting the rights of the Participant. Any amendment requiring stockholder approval
shall be approved by the stockholders of the Corporation within twelve (12) months of the date such amendment is adopted by the Board.

 

14.
Effective Date of Plan; Duration of Plan

 

A.
This Plan shall be effective upon adoption by the Board, subject to approval within twelve (12) months by the stockholders of the Corporation.
Unless and until the Plan has been approved by the stockholders of the Corporation, no Award may be exercised. In the event that the
stockholders of the Corporation shall not approve the Plan within such twelve (12) month period, the Plan and any previously granted
Awards shall terminate.

 

B.
Unless previously terminated, this Plan will terminate ten (10) years after the earlier of (i) the date this Plan is adopted by the Board,
or (ii) the date this Plan is approved by the stockholders, except that Awards that are granted under this Plan prior to its termination
will continue to be administered under the terms of this Plan until the Awards terminate, expire or are exercised.

 

    	13

     

    

 

IN
WITNESS WHEREOF, the Corporation has caused this Plan to be executed by a duly authorized officer as of the date of adoption of this
Plan by the Board of Directors.

 

SAFETY
QUICK LIGHTING & FANS CORP.

 

	By:	/s/
    John Campi	 
	 	John
    Campi	 
	 	Chief
    Executive Officer	 

 

    	14Exhibit
10.15 

 

 

sql
technologies Corp.

 

STOCK
OPTION AGREEMENT

 

	Name
    of Participant:	[  ]
	Date
    of Grant:	[  ]
	Number
    of Option Shares:	[  ]
	Option
    Price:	[  ]
	Type
    of Option (check one):	_______ Incentive
    Stock Option (ISO)
	 	_______ Non-qualified
    Stock Option (NSO or NQSO)
	Right
    to Exercise:	[  ]

 

    	1 of 8

     

    

 

THIS
AGREEMENT SHALL BE VOID IF IT HAS NOT BEEN EXECUTED AND RETURNED TO THE COMPANY WITHIN THIRTY (30) DAYS AFTER THE DATE OF GRANT. THE
SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”)
OR ANY SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER JURISDICTION. THIS OPTION AGREEMENT AND THE SECURITIES UNDERLYING
THIS OPTION AGREEMENT MAY NOT BE SOLD, PLEDGED, HYPOTHECATED, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS SUCH SALE, PLEDGE, HYPOTHECATION,
TRANSFER OR OTHER DISPOSITION SHALL HAVE BEEN REGISTERED UNDER THE SECURITIES ACT AND IN COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES
LAWS OR UNTIL THE COMPANY SHALL HAVE RECEIVED A LEGAL OPINION SATISFACTORY IN FORM AND SUBSTANCE TO THE COMPANY, THAT SUCH SECURITIES
MAY BE LEGALLY SOLD OR OTHERWISE TRANSFERRED WITHOUT SUCH REGISTRATION AND COMPLIANCE.

 

sql
technologies Corp.

STOCK OPTION AGREEMENT

 

THIS
AGREEMENT (this “Agreement”) is made as of the date of grant on the cover page hereof (the “Date of Grant”) by
and between SQL Technologies Corp., a Florida corporation (the “Company”), and the recipient named on the cover page hereto
(the “Participant”).

 

1.
Grant of Stock Option. Subject to and upon the terms, conditions, and restrictions set forth in this Agreement and in the Company’s
2015 Stock Incentive Plan (the “Plan”), the Compensation Committee (the “Committee”) of the Company’s board
of directors (the “Board”) hereby grants to the Participant as of the Date of Grant a stock option (the “Option”)
to purchase the number of shares of the Company’s common stock, no par value (the “Common Stock”) shown on the cover
page hereof (the “Option Shares”). The Option may be exercised from time to time in accordance with the terms of this Agreement.
The price per Option Share at which the Option Shares may be purchased pursuant to the Option shall be as set forth on the cover page
hereof (the “Option Price”). If noted on page one of this Agreement that the Option is intended to be an “incentive
stock option” within the meaning of that term under Section 422 of the Code, then this Agreement shall be construed in a manner
that will enable the Option to be so qualified.

 

2.
Term of Option. The term of the Option shall commence on the Date of Grant and, unless earlier terminated in accordance with Section
6 of this Agreement, shall expire ten (10) years from the Date of Grant.

 

3.
Right to Exercise. Subject to the expiration or earlier termination of the Option in accordance with its terms, the Option shall
vest and become exercisable as set forth on the cover page hereof. To the extent the Option is vested and exercisable, it may be exercised
in whole or in part. In no event shall the Participant be entitled to acquire a fraction of one Option Share pursuant to the Option.
The Participant shall be entitled to the privileges of ownership with respect to Option Shares purchased and delivered to him/her upon
the complete and valid exercise of all or part of the Option. The Company may require, as a condition to the exercise of the Option,
that the Participant agree to be bound by any stockholders agreement among all or certain stockholders of the Company that may then be
in effect, or certain provisions of any such agreement that may be specified by the Company, either in addition to or in lieu of the
provisions of this Agreement (as determined by the Company).

 

    	2 of 8

     

    

 

4.
Option Transferability. If the Option granted hereby is an Incentive Stock Option, the Option shall be neither transferable nor assignable
by the Participant except by will or by the laws of descent and distribution and may be exercised, during the lifetime of the Participant,
only by the Participant, or in the event of his or her legal incapacity, by his or her guardian or legal representative acting on behalf
of the Participant in a fiduciary capacity under state law and court supervision. If the Option granted hereby is a Nonqualified Stock
Option, the Option may be transferred to a Permitted Transferee upon approval by the Committee. A “Permitted Transferee”
shall mean (i) a Family Member, (ii) a trust created solely for the benefit of the Participant or a Family Member, or (iii) a partnership,
limited liability company or entity whose only partners or stockholders are the Participant and/or Family Members.

 

5.
Notice of Exercise; Payment. To the extent then vested and exercisable, the Option may be exercised by written notice (on the form
attached hereto as Attachment 1 or such other form acceptable to the Company) to the Company stating the number of Option Shares
for which the Option is being exercised and the intended manner of payment. The date of such notice shall be the exercise date. Payment
equal to the aggregate Option Price of the Option Shares for which the Option is being exercised shall be tendered in full with the notice
of exercise to the Company in cash in the form of currency or check or other cash equivalent acceptable to the Company. The Participant
may also tender the Option Price by (a) the actual or constructive transfer to the Company of nonforfeitable, nonrestricted shares of
Common Stock, (b) by any combination of the foregoing methods of payment, including a partial tender in cash and a partial tender in
nonforfeitable, nonrestricted shares of Common Stock, or (c) any other method approved or accepted by the Committee in its sole discretion,
including, if the Committee so determines, a cashless exercise that complies with all applicable laws. Nonforfeitable, nonrestricted
shares of Common Stock that are transferred by the Participant in payment of all or any part of the Option Price shall be valued on the
basis of their Fair Market Value per share of Common Stock, as determined by the Committee. As a further condition precedent to the exercise
of the Option, the Participant shall execute any documents which the Committee shall, in its sole discretion, deem necessary or advisable.

 

6.
Termination of Agreement.

 

(a)
[This Agreement and the portion of the Option that has not yet vested shall be forfeited and terminate automatically, without further
action or notice, on the earlier of (i) ninety (90) calendar days after the Participant ceases to be an employee, director, advisor or
consultant of the Company and its Subsidiaries for any reason, except as otherwise set forth in the Plan and (ii) ten (10) years from
the Date of Grant.][This Agreement and the portion of the Option that has not yet vested shall be forfeited and terminate automatically,
without further action or notice, ten (10) years from the Date of Grant.]

 

(b)
Notwithstanding the foregoing, in the event that the Participant’s employment or other service is terminated for cause (as determined
by the Committee), this Agreement shall terminate at the time of such termination and the Participant shall forfeit all rights under
this Agreement without further action or notice, including his or her rights with respect to any unvested portion of the Option and any
portion of the Option vested but not yet exercised, notwithstanding any other provision of this Agreement.

 

(c)
In the event of the termination of the Participant’s employment or service for any reason other than that set forth in Section
6(b) above, only the portion of the Option vested as of the date of such termination pursuant to Section 3 may be exercised. For the
purposes of this Agreement, the continuous employment or other service of the Participant with the Company shall not be deemed to have
been interrupted, and the Participant shall not be deemed to have ceased to be an employee of the Company, by reason of the transfer
of his or her employment among the Company and its Subsidiaries or a leave of absence of not more than thirty (30) days unless otherwise
approved by the Committee.

 

    	3 of 8

     

    

 

7.
Compliance with Law. Notwithstanding any other provision of this Agreement, the Option shall not vest or be exercisable if the exercise
thereof would result in a violation of any applicable federal or state securities law.

 

8.
Lock-Up Agreement. The Participant agrees that, if requested by the Company in connection with a public offering of shares of Common
Stock or other securities of the Company, the Participant will not sell, offer for sale or otherwise dispose of the Option Shares for
such period of time as is determined by the Committee; provided that at least a majority of the Company’s directors and
officers who hold options, shares of Common Stock or such other securities of the Company at such time are similarly bound.

 

9.
Amendments. Any amendment to the Plan shall be deemed to be an amendment to this Agreement to the extent that the amendment is applicable
hereto; provided, however, that no amendment shall adversely affect the rights of the Participant under this Agreement
without the Participant’s consent.

 

10.
Severability. In the event that one or more of the provisions of this Agreement shall be invalidated for any reason by a court of
competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions hereof, and the remaining
provisions hereof shall continue to be valid and fully enforceable.

 

11.
Relation to Plan. This Agreement is subject to the terms and conditions of the Plan. In the event of any inconsistency between the
provisions of this Agreement and the Plan, the Plan shall govern. Capitalized terms used herein without definition shall have the meanings
assigned to them in the Plan. The Committee acting pursuant to the Plan, as constituted from time to time, shall, except as expressly
provided otherwise herein, have the right to determine any questions which arise in connection with the Option or its exercise.

 

12.
Successors and Assigns. Without limiting Section 4, the provisions of this Agreement shall inure to the benefit of, and be binding
upon, the successors, administrators, heirs, legal representatives and assigns of the Participant, and the successors and assigns of
the Company.

 

13.
Electronic Delivery. The Participant hereby consents and agrees to electronic delivery of any documents that the Company may elect
to deliver in connection with this Agreement, the Option and any other award made or offered under the Plan. The Participant understands
that, unless earlier revoked by the Participant by giving written notice to the Chief Executive Officer of Company, this consent shall
be effective for the duration of the Agreement. The Participant also understands that he or she shall have the right at any time to request
that the Company deliver written copies of any and all materials referred to above at no charge. The Participant hereby consents to any
and all procedures the Company has established or may establish for an electronic signature system for delivery and acceptance of any
such documents that the Company may elect to deliver, and agrees that his or her electronic signature is the same as, and shall have
the same force and effect as, his or her manual signature. The Participant consents and agrees that any such procedures and delivery
may be effected by a third party engaged by the Company to provide administrative services related to the Plan.

 

14.
No Fractional Shares. Fractional shares of Common Stock will be subject to rounding conventions adopted by the Company from time
to time; provided, that in no event will the total shares of Common Stock issued pursuant to this Agreement and the Option exceed
the total Option Shares granted under this award.

 

    	4 of 8

     

    

 

15.
Taxes and Withholding. The Participant is responsible for any federal, state, local or other taxes with respect to the Option Shares.
The Company does not guarantee any particular tax treatment or results in connection with the grant or vesting of the Option Shares or
the delivery of the Option Shares.

 

16.
Change in Control. In the event of a Change in Control (as defined below), any portion of the Option that has not vested shall immediately
vest. For the purposes of this Agreement, a “Change in Control” means the occurrence of one of the following events:

 

(a)
The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”)
of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50% of the then outstanding
shares of common stock of the Company (the “Outstanding Common Shares”); provided, however, that for purposes
of this subsection (a), the following acquisitions shall not constitute a Change in Control: (i) any acquisition directly from the Company;
(ii) any acquisition by the Company; or (iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained
by the Company; or

 

(b)
Consummation of a reorganization, merger, consolidation, sale or other disposition of all or substantially all of the assets of the Company
(a “Business Combination”), in each case, unless, following such Business Combination, (i) all or substantially all of the
individuals and entities who were the beneficial owners, respectively, of the Outstanding Common Shares immediately prior to such Business
Combination beneficially own, directly or indirectly, more than 50% of the then outstanding shares of common stock of the entity resulting
from such Business Combination (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, either directly or indirectly) in substantially the same proportions as their ownership
of the Outstanding Common Shares immediately prior to such Business Combination, (ii) no Person (excluding any entity resulting from
such Business Combination or any employee benefit plan (or related trust) of the Company or such entity resulting from such Business
Combination) beneficially owns, directly or indirectly, 50% or more of the then outstanding shares of common stock of the entity resulting
from such Business Combination, except to the extent that such ownership existed prior to the Business Combination and (iii) at least
a majority of the members of the board of directors of the entity resulting from such Business Combination were members of the Company’s
Board of Directors at the time of the action of the Board was taken providing for such Business Combination.

 

    	5 of 8

     

    

 

17.
[Effect of Business Combination. If the Company shall undergo a Business Combination and, pursuant to the terms of such Business
Combination, shares of common stock of the successor or acquiring corporation, or any cash, shares of stock or other securities or property
of any nature whatsoever in addition to or in lieu of common stock of the successor or acquiring corporation (“Other Property”),
are to be received by or distributed to the holders of common stock of the Company, then, from and after the consummation of such transaction
or event, the Participant shall have the right thereafter to receive, instead of the Option Shares, at the option of the Participant,
(i) upon exercise of the Option, the number of shares of common stock of the successor or acquiring corporation or of the Company, if
it is the surviving corporation, and Other Property receivable upon or as a result of such Business Combination by a Participant of the
number of shares of common stock for which the Option is exercisable immediately prior to such event or (ii) cash equal to the value
of this Agreement as determined in accordance with the Black-Scholes option pricing formula. For the purposes of this section, “common
stock of the successor or acquiring corporation” shall include stock of such corporation of any class which is not preferred as
to dividends or assets over any other class of stock of such corporation and which is not subject to redemption and shall also include
any evidences of indebtedness, shares of stock or other securities which are convertible into or exchangeable for any such stock, either
immediately or upon the arrival of a specified date or the happening of a specified event and any warrants or other rights to subscribe
for or purchase any such stock. The foregoing provisions of this section shall similarly apply to successive reorganizations, reclassifications,
mergers, consolidations or disposition of assets.]

 

18.
No Employment Contract. Nothing contained in this Agreement shall confer upon the Participant any right with respect to continuance
of employment by the Company and its subsidiaries, nor limit or affect in any manner the right of the Company and its subsidiaries to
terminate the employment or adjust the compensation of the Participant, in each case with or without cause.

 

19.
Governing Law. The interpretation, performance, and enforcement of this Agreement shall be governed by the laws of the State of Florida.

 

20.
Notices. Any notice to the Company provided for herein shall be in writing to the Company, marked Attention: Chief Executive Officer,
and any notice to the Participant shall be addressed to the Participant at his or her address, e-mail or fax number on file with the
Company. Any written notice required to be given to the Company shall be deemed to be duly given only when actually received by the Company.

 

[SIGNATURES
ON FOLLOWING PAGE]

 

    	6 of 8

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Agreement to be executed on its behalf by its duly authorized officer and the Participant
has also executed this Agreement in duplicate, as of the day and year first above written.

 

	PARTICIPANT:	 	COMPANY:
	 	 	 	 	 
	[  ]	 	SQL
    TECHNOLOGIES Corp.
	 	 	 	 	 
	Signature:	              	 	Signature:	

		 	 	Name:	John
    P. Campi
	 	 	 	Title:	Chief
    Executive Officer
	 	 	 	 	 
	Dated:	 	 	Dated:	 

 

    	7 of 8

     

    

 

ATTACHMENT
1

 

FORM
OF EXERCISE OF OPTION TO PURCHASE

 

SQL
Technologies Corp.

 

Re:
Stock Option Exercise Notice

 

I
was granted an option (the “Option”) to purchase shares of the common stock (the “Shares”) of SQL Technologies
Corp., Inc. (the “Company”) pursuant to the Company’s 2015 Stock Incentive Plan (the “Plan”) and my Stock
Option Agreement (the “Option Agreement”) as follows:

 

	Date
    of Grant:	 		 
	 	 	 	 
	Number
    of Shares:	 	 	 
	 	 	 	 
	Exercise
    Price per Share:	$		 
	 	 	 	 
	2. Exercise of Option. I hereby elect to exercise the Option to purchase the following number of Shares, all of which have vested in accordance with the Option Agreement:
	 	 	 	 
	Total
    Shares Purchased:	 	 	 
	 	 	 	 
	Total Exercise Price
    (Total Shares X Exercise Price per Share)	 	 	 
	 	 	 	 
	 	$	 	 
	 	 	 	 
	3. Payments. I enclose payment in full of the total exercise price for the Shares in the following form(s), as authorized by the Option Agreement:
	 	 	 	 
	Cash:
    	$	 	 
	 	 	 	 
	Check:	$	 	 
	 	 	 	 
	Tender
    of shares of Company common stock:	 	Contact
    Plan Administrator	 
	 	 	 	 
	Cashless
Exercise (same-day sale): 	 	Contact
    Plan Administrator	 
	 	 	 	 
	4. Tax Withholding. I authorize payroll withholding and otherwise will make adequate provision for the federal, state, local and foreign tax withholding obligations of the Company, if any, in connection with the Option. If I am exercising a Nonstatutory Stock Option, I enclose payment in full of my withholding taxes, if any, as follows: 

 

    	8 of 8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00338-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00338-of-00352.parquet"}]]