Document:

Exhibit 10.1

 

2021
restricted Stock Unit Award Plan

(EFFECTIVE
May 25, 2021)

 

		1.	General Description.

 

The Plan provides for grants
of restricted stock units to employees, consultants and Non-Employee Directors of the Company and its Subsidiaries.

 

The purpose of the Plan is
to attract, motivate and retain experienced and knowledgeable employees and consultants by offering additional stock based compensation
and incentives to defer and potentially enhance their compensation and to encourage stock ownership in the Company, and to attract and
retain qualified directors.

 

This Plan is intended to comply
with Section 409A of the Internal Revenue Code of 1986, as amended, in order to avoid compensation deferred under the Plan which is subject
to Code Section 409A from being included in the gross income of Participants under Code Section 409A and the Plan shall be interpreted
consistent with such intent.

 

		2.	Definitions.

 

The following definitions
shall be applicable throughout the Plan:

 

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

 

“Cash Settled Restricted
Stock Units” is defined in Section 7(d).

 

“Cause” means,
with respect to termination of a Participant's employment, or termination of a Participant’s service as a Non-Employee Director,
or termination of a Participant’s consulting relationship with the Company or a Subsidiary, the occurrence of any one or more of
the following:

 

(a)                
in the case of a (A) Non-Employee Director, (B) a non-employee consultant, or (C) an employee where there is no employment, change
in control or similar agreement in effect between the Participant and the Company or a Subsidiary at the time of the grant of the Restricted
Stock Unit award, or where there is such an agreement but the agreement does not define “cause” (or similar words), the finding
by the Board or the Committee, in the exercise of good faith and reasonable judgment, that: (1) except in the case of a Non-Employee Director,
Participant breached his or her employment or service contract or any other agreement (whether verbal or written) with the Company or
a Subsidiary, (2) Participant has been engaged in disloyalty to the Company or a Subsidiary, including, without limitation, fraud, embezzlement,
theft, or proven dishonesty in the course of his or her employment or service with the Company or a Subsidiary; (3) Participant has been
convicted of a felony; (4) Participant has committed gross negligence or willful misconduct in the course of his or her employment or
service with the Company or a Subsidiary, or (5) Participant has disclosed trade secrets or confidential information of the Company, a
Subsidiary or a third party to persons not entitled to receive such information.

 

(b)               
in the case of an employee where there is a written employment, change in control or similar agreement in effect between the Participant
and the Company or a Subsidiary at the time of the grant of the Restricted Stock Unit award that defines “cause” (or similar
words), the termination of an employment arrangement that is or would be deemed to be for “cause” (or similar words) as defined
in such agreement.

 

“Change in Control -
Plan” means in one or a series of related transactions any of the following: (a) the acquisition (other than solely from the Company)
by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) other than the Company or
any Subsidiary of the beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than sixty-six
and 2/3 percent (66.66%) of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally
in the election of directors (the “Voting Securities”); (b) a reorganization, merger, consolidation, share exchange, recapitalization,
business combination or similar combination involving the Company or its capital stock (a “Business Combination”), other than
a Business Combination in which more than thirty-three and 1/3 percent (33.33%) of the combined voting power of the outstanding voting
securities of the surviving or resulting entity immediately following the Business Combination is held by the persons who, immediately
prior to the Business Combination, were the holders of the Voting Securities; (c) a sale or other transfer (other than license) of all
or substantially all of the Company’s assets (measured by the value or earning power of the assets), including, without limitation,
the sale by the Company of its rights under license agreements or similar agreements relating to its technology (including the sale of
royalty payment amounts payable to the Company or its shareholders under such agreements); (d) the license or similar agreement by the
Company to a third party or third parties, in one or more transactions, of all rights in and to the Company’s technology and, as
a result of such transactions, all or substantially all of the Company’s activities consist of monitoring such arrangements and
collecting fees and payments due thereunder; or (e) a complete liquidation or dissolution of the Company.

 

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“Change in Control –
Section 409A” shall mean a Change in Control – Plan, except to the extent that (and only to the extent that) such Change in
Control – Plan does not qualify as a change (a) in the ownership or effective control of the Company, or (b) in the ownership of
a substantial portion of the assets of the Company, under Section 409A of the Code.

 

“Code” means the
Internal Revenue Code of 1986, as amended.

 

“Committee” shall
mean the Compensation Committee, if any, appointed by the Board under Section 4 hereof.

 

“Common Stock”
or “Stock” means shares of common stock, par value $.01 per share, of the Company, including any rights attendant thereto
upon issuance of the shares, together with any restrictions, limitations or conditions of and to such rights and such other stock or other
securities or property into which the Stock (or such rights) may be converted or for which it is exchanged or substituted (and any credits
thereon), pursuant to Section 10.

 

“Company” means
Acura Pharmaceuticals, Inc. and its successors.

 

“Disability” means

 

(a)                
in the case of (A) a Non-Employee-Director or (B) an employee where there is no employment, change in control or similar agreement
in effect between the Participant and the Company or a Subsidiary at the time of the grant of the Restricted Stock Unit award, or where
there is such an agreement but the agreement does not define “disability” (or similar words), then “Disability”
means the Participant: (1) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or
mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve
(12) months; (2) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or
can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period
of not less than three (3) months under an accident and health plan covering employees and/or directors of the Company or a Subsidiary;
(3) is determined to be totally disabled by the Social Security Administration; or (4) any other permitted definition of disability under
Section 409A of the Code and the regulations promulgated thereunder, and

 

(b)               
in the case where there is a written employment, change in control or similar agreement in effect between the Participant and the
Company or a Subsidiary at the time of the grant of the Restricted Stock Unit award that defines “disability” (or similar
words), the termination of an employment arrangement that is or would be deemed to be for “disability” (or similar words)
as defined in such agreement.

 

“Effective Date”
shall be the date this Plan is approved by the shareholders of the Company.

 

“Eligible Participant”
means a Non-Employee Director serving as a director on the date of grant, a consultant providing services to the Company or a Subsidiary
on the date of grant, or an employee employed by the Company or a Subsidiary on the date of grant.

 

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

 

“Fair Market Value”
means, as of any date, the fair market value of Common Stock determined as follows:

 

		(i)	If the Common Stock is listed on any established stock exchange (including the Nasdaq Capital Market)
or quoted on the OTCQB or OTCQX its Fair Market Value shall be the closing sales price for such stock as quoted on such exchange or system
for the preceding day on which sales of Common Stock were reported, as such price is reported in The Wall Street Journal or such other
source as the Board deems reliable;

 

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		(ii)	If the Common Stock is quoted by a recognized securities dealer but selling prices are not reported, its
Fair Market Value shall be the mean between the closing bid and asked prices for the Common Stock on the preceding day on which sales
of Common Stock were reported, as reported in The Wall Street Journal or such other source as the Board deems reliable; or

 

		(iii)	In the absence of an established market for the Common Stock, the Fair Market Value thereof shall be determined
in good faith by the Board.

 

“Non-Employee Director”
has the definition set forth in Rule 16b-3(b)(3)(i) of the Exchange Act.

 

“Participant”
means each Company or Subsidiary employee, consultant or Non-Employee Director who has been granted a Restricted Stock Unit award.

 

“Plan” means the
Acura Pharmaceuticals, Inc. 2021 Restricted Stock Unit Award Plan, as set forth herein and as it may be amended from time to time.

 

“Restricted Stock Unit
Award Agreement” means an agreement described in Section 5(a) and Section 9(j).

 

“Restricted Stock Units”
or “RSUs” means an award of Stock Units credited pursuant to Section 5, which Stock Units are subject to vesting and other
restrictions as set forth herein.

 

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

 

“Stock Unit” means
a non-voting unit of measurement that is (a) deemed for bookkeeping purposes to be equivalent to one outstanding share of Stock solely
for purposes of determining benefits under the Plan, (b) credited to a Participant's Stock Unit Account pursuant to the grant of Restricted
Stock Units under Section 5; and (c) payable solely in a share of Stock, on a one-for-one basis, except in the case of Cash Settled Restricted
Stock Units which are settled in cash (as provided herein).

 

“Stock Unit Account”
means the bookkeeping account maintained by the Company for each Eligible Participant that is credited with Stock Units in accordance
with the Plan.

 

“Subsidiary” means
any entity of which a majority of the outstanding voting stock or voting power is beneficially owned directly or indirectly by the Company.

 

		3.	Effective Date; Duration.

 

The Effective Date shall be
the date on which the Company’s shareholders approve this Plan. RSUs may be distributed under the Plan until December 31, 2031.
The Plan shall continue in effect until all matters relating to Stock Units and the administration of the Plan have been completed and
all payments of such compensation have been made.

 

		4.	Administration.

 

The Company’s Board
of Directors or the Compensation Committee of the Board, as designated by the Board, shall administer the Plan. If appointed by the Board,
the Committee shall be constituted so as to permit the Plan to continue to comply with Rule 16b-3, as currently in effect or as hereafter
modified or amended. The Committee appointed by the Board of Directors shall consist of not less than two members of the Board of Directors,
to administer the Plan on behalf of the Board of Directors, subject to such terms and conditions as the Board of Directors may prescribe.
Once appointed, the Committee shall continue to serve until otherwise directed by the Board of Directors. From time to time, the Board
of Directors may increase the size of the Committee and appoint additional members thereof, remove members (with or without cause), and
appoint new members in substitution therefor, fill vacancies however caused, or remove all members of the Committee and thereafter directly
administer the Plan; provided, however, that at no time shall a Committee of less than two members administer the Plan. Notwithstanding
anything to the contrary contained herein, no member of the Committee shall serve as such under this Plan unless such person is a “Non-Employee
Director” within the meaning of Rule 16b-3(b)(3)(i) of the Exchange Act.

 

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A majority of the entire Committee
shall constitute a quorum, and the action of the majority of the Committee members present at any meeting at which a quorum is present
shall be the action of the Committee. The Committee shall have all of the powers and duties set forth herein, as well as such additional
powers and duties as the Board of Directors may delegate to it; provided, however, that the Board of Directors expressly retains the right
in its sole discretion (i) to elect and to replace the members of the Committee, and (ii) to terminate or amend this Plan in any manner
consistent with applicable law.

 

The Committee shall have the
authority, subject to the provisions of this Plan, to establish, adopt and revise such rules, regulations and forms and agreements and
to interpret the Plan and make all such determinations relating to the Plan as it may deem necessary or advisable. The Committee shall
also have the authority, subject to the provisions of the Plan, to delegate ministerial, day-to-day administrative details and non-discretionary
duties and functions to officers and employees of the Company. The Committee's interpretation of the Plan or any awards granted pursuant
hereto and all decisions and determinations by the Committee with respect to the Plan shall be final, binding, and conclusive on all parties.
Notwithstanding any provisions of this Plan or any Restricted Stock Unit Award Agreement to the contrary, all discretionary interpretations,
decisions or determinations of the Board or the Committee with respect to the Plan and all RSUs awarded under the Plan shall be made in
accordance with the express terms of the Plan and applicable Restricted Stock Unit Award Agreement in the exercise of good faith and reasonable
judgment.

 

Notwithstanding any contrary
provision of this Section 4, the Board shall administer the Plan, and the Committee shall exercise no discretion with respect to any grants
to Non-Employee Directors. In the administration of the Plan with respect to Non-Employee Directors, the Board shall have all of the authority
and discretion otherwise granted to the Committee with respect to the administration of the Plan.

 

		5.	Restricted Stock Units.

 

(a)                
Restricted Stock Units may be granted at any time and from time to time as determined by the Board or the Committee. Each Restricted
Stock Units grant will be evidenced by a Restricted Stock Award Agreement that will specify such other terms and conditions as Board or
the Committee, in its sole discretion, will determine, including all other applicable terms, conditions and restrictions related to the
grant, vesting and the number of Restricted Stock Units not otherwise set forth in this Plan.

 

(b)               
Vesting Period. The Board or the Committee shall determine the vesting of a Restricted Stock Unit award granted under Section 5(a),
and shall set forth such vesting in the Restricted Stock Unit Award Agreement.

 

(c)                
Acceleration of Vesting. Notwithstanding Section 5(b), unless expressly provided otherwise in the Restricted Stock Unit Award Agreement,
each Restricted Stock Unit award shall become fully and immediately vested and nonforfeitable to the Participant upon the occurrence of
any of the following events:

 

(1)               
a Participant's service as an employee of the Company is terminated by the Company without Cause or due to Participant’s
death or Participant’s Disability, or in the case of a Non-Employee Director, Participant’s death or Disability or Participant
is not renominated as a director (other than for “Cause” or refusal to stand for re-election) or is not elected by the Company’s
stockholders, if nominated; or

 

(2)               
a Change in Control - Plan.

 

		6.	Dividend and Voting Rights.

 

Unless expressly provided
for in a Participant’s Restricted Stock Unit Award Agreement, a Participant shall have no rights as a stockholder of the Company,
no dividend rights and no voting rights, with respect to the RSUs and any shares of Common Stock underlying or issuable in respect of
such RSUs until such shares of Common Stock are actually issued to and held of record by the Participant. No adjustments will be made
for dividends or other rights of a holder for which the record date is prior to the date of issuance of the stock certificate for such
RSU.

 

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		7.	Restrictions, Distributions and Changes to Distributions; Payment of Units.

 

(a)                
Time and Manner of Distribution. Payment of vested Stock Units in a Participant's Stock Unit Account in accordance with Section
7(b) shall be made on the earlier of (i) a Change in Control – Section 409A, or (ii) the distribution dates specified in Section
7(b) and 7(c) as applicable, subject to Section 7(e). In the event of a payment pursuant to a Change in Control – Section 409A under
Section 7(a)(i), such payment shall be made in a lump sum payment as soon as administratively practicable following consummation of said
Change in Control – Section 409A, subject to Section 7(e). The date of the Change in Control – Section 409A is the scheduled
distribution date for purposes of the Plan. In the event of a payment under Section 7(a)(ii), such payment shall be made as specified
in Section 7(b) and 7(c) as applicable; provided, however, that in the event of a Change in Control – Section 409A all of Participant’s
undistributed Stock Units as of consummation of said Change in Control – Section 409A shall be paid to Participant in a lump sum
as soon as administratively practicable, regardless of the payment dates set forth in Section 7(b) or 7(c), subject to Section 7(e).

 

(b)               
Standard Payments. Subject to Sections 7(a) and 7(c) hereof, unless a Restricted Stock Unit Award Agreement otherwise provides,
with respect to any Restricted Stock Units granted to a Participant that become vested and non-forfeitable pursuant to the terms hereof
and the applicable Restricted Stock Unit Award Agreement, such Restricted Stock Units shall be paid on the first business day of the year
after the year in which they become vested and non-forfeitable (which is the scheduled distribution date for purposes of the Plan), or
as soon thereafter as administratively practicable, subject to Section 7(e).

 

(c)                
Deferral By Company. Subject to Section 7(a), at the discretion of the Committee, a Restricted Stock Unit Award for a Participant
may provide for a date or dates of distribution occurring after the vesting date, and in such case payment shall be made on such distribution
dates as specified in the applicable Restricted Stock Unit Award Agreement (which are the scheduled distribution dates for purposes of
the Plan), subject to Section 7(e).

 

(d)               
Cash Settled Restricted Stock Units. Unless otherwise provided in a Restricted Stock Unit Award Agreement, and subject to the restrictions
provided in Section 9(n) a Non-Employee Director may elect, at any time prior to payment of Restricted Stock Units granted in a Restricted
Stock Units Award Agreement that up to 40% of such Restricted Stock Units be settled in cash (“Cash Settled Restricted Stock Units”).

 

(e)                
Payment of Units. Upon the occurrence of the distribution events set forth in Section 7(a), 7(b), and 7(c), other than with respect
to Cash Settled Restricted Stock Units, the Company shall deliver a number of shares of Stock equal to the number of vested Stock Units
to which the Participant is then entitled under the terms of the Plan and the Restricted Stock Unit Award Agreement upon receipt from
Participant of the par value of such shares of Stock, which amount must be received or withheld within thirty days of the scheduled distribution
date, set forth in Section 7(a), 7(b) or 7(c), as applicable, and in the Participant’s tax year in which the scheduled distribution
date falls. In lieu of requiring cash payment of such par value, the Company may, it its discretion or shall at the Participant’s
election, subject to Section 9(n), accept payment of any such par value by withholding from Stock payments a number of whole shares of
Stock whose value is equal to the amount of such par value. Valuation for these purposes shall be the Fair Market Value on the scheduled
distribution date referenced in Sections 7(a), 7(b) and 7(c). Upon the occurrence of the distribution events set forth in Section 7(a),
7(b) or 7(c) with respect to Cash Settled Restricted Stock Units, the Company shall deliver to the Participant cash equal to (A) Fair
Market Value of the Common Stock on the scheduled distribution date less one cent par value multiplied by (B) the number of such Cash
Settled Restricted Stock Units as calculated pursuant to the Participant’s election form.

 

(f)                 
Forfeiture of Unvested Units. Except as provided in Section 5(c) of the Plan or in a Participant’s Restricted Stock Unit
Award Agreement, to the extent any portion of a Participant's RSUs have not become vested upon the date the Participant's services as
an employee, consultant or Non-Employee Director terminate, such RSUs shall be forfeited and the unvested portion of the RSU award shall
automatically terminate without any other action by the Participant or the Participant’s Beneficiary as the case may be and without
payment of consideration by the Company.

 

		8.	Shares Subject to the Plan; Share Limits.

 

(a)                
Share Limits. Subject to the provisions of Section 10 of the Plan, the maximum aggregate number of shares of Common Stock which
may be issued under the Plan is 2,500,000 (the “Pool”) of Common Stock. Such shares may be authorized, but unissued, or reacquired
Common Stock. Shares issued in payment of any Restricted Stock Units granted under the Plan shall be counted against the Pool as one share
for every one share actually issued in payment of such Restricted Stock Units. Issuance of cash for Cash Settled Restricted Stock Units
shall diminish the Pool as if a share had been exchanged for each RSU settled in cash.

 

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(b)               
Shares withheld by the Company as payment of par value or applicable withholding taxes in connection with any award under the Plan,
shall not be available for subsequent awards under the Plan. Shares that are subject to or underlie awards which expire or for any reason
are cancelled or terminated, are forfeited, fail to vest, or for any other reason are not paid or delivered under the Plan shall again
be available for subsequent awards under the Plan.

 

		9.	General.

 

(a)                
Government and Other Regulations. The obligation of the Company to credit Stock Units, issue or deliver Stock or otherwise make
payments under the Plan are subject to compliance with all applicable laws, rules, and regulations (including, without limitation, federal
and state securities laws), and to such approvals by any listing, agency, or regulatory or governmental authorities as may, in the opinion
of counsel for the Company, be necessary or advisable in connection therewith. Any securities issued or delivered under the Plan shall
be subject to such restrictions, and the person acquiring such securities shall, if requested by the Company, provide such assurances
and representations to the Company, as the Company may deem necessary or advisable to assure compliance with all applicable legal requirements.

 

(b)               
Tax and Withholding. The Company has the right to require the person receiving Stock to pay to the Company the amount of any federal,
state and local taxes which the Company is required to withhold upon the delivery of Stock. In lieu of requiring cash payment of any such
taxes, the Company shall at its election or at the Participant’s election, instead withhold from said Participant’s Stock
payments a number of shares of Stock whose value is equal to the amount of such taxes. Valuation for this purpose shall be the Fair Market
Value on the scheduled distribution date.

 

(c)                
Beneficiaries.

 

(1)               
Beneficiary Designation. Each Eligible Participant may designate in writing the Beneficiary or Beneficiaries (as defined in Section
9(c)(2)) whom such Eligible Participant desires to receive any amounts payable under the Plan after his or her death. Beneficiary designations
shall be effective on the date such written designation is received by the Corporate Secretary. An Eligible Participant may from time
to time change his or her designated Beneficiary or Beneficiaries without the consent of such Beneficiary or Beneficiaries by filing a
new designation in writing with the Corporate Secretary. However, if a married Eligible Participant wishes to designate a person other
than his or her spouse as Beneficiary, such designation shall be consented to in writing by the spouse. The Eligible Participant may change
any election designating a Beneficiary or Beneficiaries without any requirement of further spousal consent if the spouse's consent so
provides. Notwithstanding the foregoing, spousal consent shall not be necessary if it is established that the required consent cannot
be obtained because the spouse cannot be located or because of other circumstances prescribed by the Board or the Committee. The Company
and the Board or the Committee may rely on the Eligible Participant's designation of a Beneficiary or Beneficiaries last filed in accordance
with the terms of the Plan.

 

(2)               
Definition of Beneficiary. An Eligible Participant's “Beneficiary” or “Beneficiaries” shall be the person,
persons, trust or trusts so designated by the Eligible Participant or, in the absence of such designation, entitled by will or the laws
of descent and distribution to receive the Eligible Participant's benefits under the Plan in the event of the Eligible Participant's death,
and shall mean the Eligible Participant's executor or administrator if no other Beneficiary is identified and able to act under the circumstances.

 

(d)               
Non-transferability. Except as provided in Section 9(c) and in this Section 9(d), a Participant’s rights and interests under
the Plan in respect of RSUs, including Stock or cash deliverable under or in respect thereof, may not be assigned, pledged, or transferred.
The Committee may, in its discretion, authorize all or a portion of the RSUs to be granted to a Participant to be on terms which permit
transfer by such Participant to (i) the spouse, children or grandchildren of the Participant (the “Immediate Family Members”),
(ii) a trust or trusts for the exclusive benefit of such Immediate Family Members, or (iii) a partnership in which such Immediate Family
Members are the only partners, provided that (x) there may be no consideration for any such transfer, (y) subsequent transfers of transferred
of RSUs shall be prohibited except those made by will or by the laws of descent or distribution, and (z) such transfer is approved in
advance by the Committee. Following transfer, any such RSUs shall continue to be subject to the same terms and conditions as were applicable
immediately prior to transfer, provided that for purposes of determining the party entitled to exercise under the RSU, the term “Participant”
shall be deemed to refer to the transferee. The termination of service as an employee, non-employee director or consultant shall continue
to be applied with respect to the original Participant, following which the RSUs shall be exchangeable for Stock by the transferee only
to the extent, and for the periods specified in Section 7 of the Plan and in the Restricted Stock Unit Award Agreement.

 

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(e)                
Expenses. All expenses incurred by the Company associated with adoption and administration of this Plan, including all legal expenses
related to drafting this Plan and related documents, shall be borne solely by the Company.

 

(f)                 
Titles and Headings. The titles and headings of the sections in the Plan are for convenience of reference only, and in the event
of any conflict, the text of the Plan, rather than such titles or headings, shall control.

 

(g)               
Governing Law. The validity of the Plan or any of its provisions and any agreements entered into under the Plan shall be construed,
administered and governed in all respects under the laws of the State of New York. If any provisions of the Plan shall be held by a court
of competent jurisdiction to be invalid or unenforceable, the remaining provisions hereof shall continue to be fully effective.

 

(h)               
Limitation on Participants’ Rights; Unfunded Plan. Participation in the Plan shall not give any person the right to continued
employment or any rights or interests other than as expressly provided herein. No Participant shall have any right to any payment or benefit
hereunder except to the extent provided herein. The Plan shall create only a contractual obligation on the part of the Company as to such
amounts and shall not be construed as creating a trust or fiduciary relationship between the Company, the Board, the Committee, and any
Participant or other person. Participants and their Beneficiaries shall have no legal or equitable rights, claims, or interest in any
specific property or assets of the Company. No assets of the Company shall be held under any trust, or held in any way as collateral security
for the fulfilling of the obligations of the Company under this Plan. Any and all of the Company's assets shall be, and remain, the general
unpledged, unrestricted assets of the Company. The Company's obligation under the Plan shall be merely that of an unfunded and unsecured
promise of the Company to pay benefits in the future, and the rights of the Participants and Beneficiaries shall be no greater than those
of unsecured general creditors.

 

(i)                 
Rights with Respect to Stock Units. A Participant's Stock Unit Account shall be a memorandum account on the books of the Company.
The Stock Units credited to such account shall be used solely as a device to determine the number of shares of Stock (or cash in the case
of Cash Settled Restricted Stock Units) to be eventually distributed to the Participant, subject to applicable vesting requirements, in
accordance with the Plan. The Stock Units shall not be treated as property or as a trust fund of any kind. No Participant shall be entitled
to any voting dividend, or other stockholder rights with respect to Stock Units credited under the Plan.

 

(j)                 
Restricted Stock Unit Award Agreements. Each Restricted Stock Unit award granted to an Eligible Participant under the Plan shall
be evidenced by a writing approved by the Board or the Committee and will contain the terms and conditions consistent with the Plan as
approved by the Board or the Committee relating to the RSUs. This Plan and each Restricted Stock Unit Award Agreement granted to an Eligible
Participant under the Plan shall be binding upon, and inure to the benefit of, any successor or successors of the Company, except to the
extent that the Board or the Committee and each Participant having executed a Restricted Stock Unit Award Agreement determine otherwise
as evidenced by a writing signed by both parties.

 

(k)               
Plan Construction. By its approval of the Plan, the Board intends that the transactions contemplated by the Plan satisfy and be
interpreted in a manner that satisfies the applicable requirements of Rule 16b-3 promulgated under the Exchange Act so that, among other
transactions, the crediting of Stock Units and payment in Stock will be entitled to the benefits of Rule 16b-3 or other exemptive rules
under the Exchange Act.

 

(l)                 
Notices. Any notice to be given under the terms of this Plan shall be in writing and addressed to the Company at its principal
office, to the attention of the Corporate Secretary, and to the Participant at his or her last address of record, or at such other address
as either party may designate in writing to the other for the purposes of notices in respect of RSUs.

 

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(m)              
In the event the Board determines that it is not necessary to collect par value in exchange for issuances of Stock hereunder in
exchange for RSUs then the Board may eliminate (i) the par value payment required in connection with a distribution of Stock, and (ii)
the deduction of par value in calculating amounts to be paid under Cash Settled Restricted Stock Units.

 

(n) In the event the Board
determines that under the terms of any preferred stock that may be issued by the Company or the terms of any credit agreement, loan agreement
or financing arrangement (collectively, “Loan”), whether existing on the Effective Date or entered into or amended thereafter,
that (i) withholding of RSUs or shares of stock exchangeable for RSUs for payment of taxes or par value or (ii) settlement of Cash Settled
Restricted Stock Units, would violate a covenant, representation, warranty or other agreement contained in such Loan (including, without
limitation, limits on repurchase or redemption of Common Stock or derivatives thereof), then in the case of subparagraph (i) the Company
shall not be required to withhold such RSUs and/or shares of Common Stock and the Participant shall make such payment in cash, and in
the case of subparagraph (ii), such Cash Settled Restricted Stock Units shall be settled in Common Stock.

 

		10.	Changes in Capital Structure.

 

Upon or in contemplation of
any reclassification, recapitalization, stock split (including a stock split in the form of a stock dividend) or reverse stock split;
any merger, combination, consolidation or other reorganization; any split-up; spin-off, or similar extraordinary dividend distribution
in respect of the Stock (whether in the form of securities or property); any exchange of Stock or other securities of the Company, or
any similar, unusual or extraordinary corporate transaction in respect of the Stock; or a sale of substantially all the assets of the
Company as an entirety; then the Board shall, in such manner, to such extent (if any) and at such time as it deems appropriate and equitable
in the circumstances in the Board’s exercise of good faith and reasonable judgment, proportionately adjust any or all of (a) the
number and type of shares of Stock (or other securities or property) that thereafter may be made the subject of Stock Units and Stock
Unit Accounts (including the specific maximum and numbers of shares set forth elsewhere in the Plan), (b) the number, amount and type
of shares of Stock (or other securities or property) payable in respect of Stock Units, and (c) and the number and type of Stock Units
(both credited and vested) under the Plan.

 

		11.	Amendments and Termination.

 

The Board (but only upon shareholder
approval if such approval is required by (i) the rules of the exchange on which the Company’s stock is listed, (ii) under New York
law or (iii) any other applicable law or regulation) shall have the right to amend the Plan (including outstanding awards) in whole or
in part from time to time or may at any time suspend or terminate the Plan; provided, however, that no amendment or termination shall
cancel or otherwise adversely affect in any way, without his or her written consent, any Participant's rights with respect to Stock Units
credited to his or her Stock Unit Account and no amendment or termination shall accelerate payment of any benefit which is subject to
the rules of Section 409A of the Code in a manner that would violate the distribution rules of Section 409A of the Code. Notwithstanding
the foregoing, Participant consent shall not be required to the extent that the Board determines that applicable law requires amendment
or termination of the Plan to preserve the intended tax benefits to the Participants and the Company hereunder. Any amendments authorized
hereby shall be stated in an instrument in writing, and all Participants (subject to any applicable consent requirement above) shall be
bound thereby upon receipt of notice thereof. Changes contemplated by Section 10 shall not be deemed to constitute changes or amendments
for purposes of this Section 11.

 

 

    	 	8Document

EXHIBIT 10.1

CONFORMIS, INC.
2015 STOCK INCENTIVE PLAN
AS AMENDED BY THE FIRST AMENDMENT
approved by Conformis, Inc. Stockholders on May 24, 2021

(Reflects one-for-two reverse stock split of Conformis’ common stock that became effective on June 16, 2015)
1.Purpose
The purpose of this 2015 Stock Incentive Plan (the “Plan”) of Conformis, Inc., a Delaware corporation (the “Company”), is to advance the interests of the Company’s stockholders by enhancing the Company’s ability to attract, retain and motivate persons who are expected to make important contributions to the Company and by providing such persons with equity ownership opportunities and performance-based incentives that are intended to better align the interests of such persons with those of the Company’s stockholders.  Except where the context otherwise requires, the term “Company” shall include any of the Company’s present or future parent or subsidiary corporations as defined in Sections 424(e) or (f) of the Internal Revenue Code of 1986, as amended, and any regulations thereunder (the “Code”) and any other business venture (including, without limitation, joint venture or limited liability company) in which the Company has a controlling interest, as determined by the Board of Directors of the Company (the “Board”).
2.Eligibility
All of the Company’s employees, officers and directors, as well as consultants and advisors to the Company (as the terms consultants and advisors are defined and interpreted for purposes of Form S-8 under the Securities Act of 1933, as amended (the “Securities Act”), or any successor form) are eligible to be granted Awards (as defined below) under the Plan.  Each person who is granted an Award under the Plan is deemed a “Participant.”  The Plan provides for the following types of awards, each of which is referred to as an “Award”: Options (as defined in Section 5), SARs (as defined in Section 6), Restricted Stock (as defined in Section 7), Restricted Stock Units (as defined in Section 7) and Other Stock-Based Awards (as defined in Section 8).  
3.Administration and Delegation
(a)Administration by Board of Directors.  The Plan will be administered by the Board.  The Board shall have authority to grant Awards and to adopt, amend and repeal such administrative rules, guidelines and practices relating to the Plan as it shall deem advisable.  The Board may construe and interpret the terms of the Plan and any Award agreements entered into under the Plan.  The Board may correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Award in the manner and to the extent it shall deem expedient and it shall be the sole and final judge of such expediency.  All decisions by the Board shall be made in the Board’s sole discretion and shall be final and binding on all persons having or claiming any interest in the Plan or in any Award.
(b)Appointment of Committees.  To the extent permitted by applicable law, the Board may delegate any or all of its powers under the Plan to one or more committees or subcommittees of the Board (a “Committee”).  All references in the Plan to the “Board” shall mean the Board or a Committee of the Board or the officers referred to in Section 3(c) to the extent that the Board’s powers or authority under the Plan have been delegated to such Committee or officers.
(c)Delegation to Officers.  To the extent permitted by applicable law, the Board may delegate to one or more officers of the Company the power to grant Options and other Awards that constitute rights 

under Delaware law (subject to any limitations under the Plan) to employees or officers of the Company and to exercise such other powers under the Plan as the Board may determine, provided that the Board shall fix the terms of such Awards to be granted by such officers (including the exercise price of such Awards, which may include a formula by which the exercise price will be determined) and the maximum number of shares subject to such Awards that the officers may grant; provided further, however, that no officer shall be authorized to grant such Awards to any “executive officer” of the Company (as defined by Rule 3b-7 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) or to any “officer” of the Company (as defined by Rule 16a-1 under the Exchange Act).  The Board may not delegate authority under this Section 3(c) to grant Restricted Stock, unless Delaware law then permits such delegation.
4.Stock Available for Awards
(a)Number of Shares; Share Counting.
(i)Authorized Number of Shares.  Subject to adjustment under Section 9, Awards may be made under the Plan (any or all of which Awards may be in the form of Incentive Stock Options, as defined in Section 5(b)) for up to such number of shares of common stock, $0.0001 par value per share, of the Company (the “Common Stock”) as is equal to the sum of: 
(1)8,000,000 shares of Common Stock; plus
(2)such additional number of shares of Common Stock (up to 5,878,488 shares) as is equal to the sum of (x) the number of shares of Common Stock reserved for issuance under the Company’s 2011 Stock Option/Stock Issuance Plan (the “2011 Plan”) that remain available for grant under the 2011 Plan immediately prior to the closing of the Company’s initial public offering, (y) the number of shares of Common Stock subject to awards granted under the 2011 Plan which awards expire, terminate or are otherwise surrendered, canceled, forfeited or repurchased by the Company at their original issuance price pursuant to a contractual repurchase right (subject, however, in the case of Incentive Stock Options to any limitations of the Code), and (z) the number of shares of Common Stock subject to awards granted under the Company’s 2004 Stock Option Plan which awards expire, terminate or are otherwise surrendered, canceled, forfeited or repurchased by the Company at their original issuance price pursuant to a contractual repurchase right (subject, however, in the case of Incentive Stock Options to any limitations of the Code); plus
(3)an annual increase to be added on the first day of each fiscal year, beginning with the fiscal year ending December 31, 2016 and continuing for each fiscal year until, and including, the fiscal year ending December 31, 2025, equal to the least of (i) 3,000,000 shares of Common Stock, (ii) 3% of the outstanding shares on such date and (iii) an amount determined by the Board.
Shares issued under the Plan may consist in whole or in part of authorized but unissued shares or treasury shares.
(ii)Share Counting.  For purposes of counting the number of shares available for the grant of Awards under the Plan: 
(1)all shares of Common Stock covered by SARs shall be counted against the number of shares available for the grant of Awards under the Plan;  provided, however, that (i) SARs that may be settled only in cash shall not be so counted and (ii) if the Company grants an SAR in tandem with an Option for the same number of shares of Common Stock and provides that only one such Award may be exercised (a “Tandem SAR”), only the shares covered by the Option, and not the shares covered by the Tandem SAR, shall be so counted, and the expiration of one in connection with the other’s exercise will not restore shares to the Plan; 

(2)if any Award (i) expires or is terminated, surrendered or canceled without having been fully exercised or is forfeited in whole or in part (including as the result of shares of Common Stock subject to such Award being repurchased by the Company at the original issuance price pursuant to a contractual repurchase right) or (ii) results in any Common Stock not being issued (including as a result of an SAR that was settleable either in cash or in stock actually being settled in cash), the unused Common Stock covered by such Award shall again be available for the grant of Awards; provided, however, that (1) in the case of Incentive Stock Options, the foregoing shall be subject to any limitations under the Code, (2) in the case of the exercise of an SAR, the number of shares counted against the shares available under the Plan shall be the full number of shares subject to the SAR multiplied by the percentage of the SAR actually exercised, regardless of the number of shares actually used to settle such SAR upon exercise and (3) the shares covered by a Tandem SAR shall not again become available for grant upon the expiration or termination of such Tandem SAR; and
(3)shares of Common Stock delivered (either by actual delivery, attestation, or net exercise) to the Company by a Participant to (i) purchase shares of Common Stock upon the exercise of an Award or (ii) satisfy tax withholding obligations (including shares retained from the Award creating the tax obligation) shall be added back to the number of shares available for the future grant of Awards. 
(b)Substitute Awards.  In connection with a merger or consolidation of an entity with the Company or the acquisition by the Company of property or stock of an entity, the Board may grant Awards in substitution for any options or other stock or stock-based awards granted by such entity or an affiliate thereof.  Substitute Awards may be granted on such terms as the Board deems appropriate in the circumstances, notwithstanding any limitations on Awards contained in the Plan.  Substitute Awards shall not count against the overall share limit set forth in Section 4(a)(1), except as may be required by reason of Section 422 and related provisions of the Code.
5.Stock Options
(a)General.  The Board may grant options to purchase Common Stock (each, an “Option”) and determine the number of shares of Common Stock to be covered by each Option, the exercise price of each Option and the conditions and limitations applicable to the exercise of each Option, including conditions relating to applicable federal or state securities laws, as it considers necessary or advisable.  
(b)Incentive Stock Options.  An Option that the Board intends to be an “incentive stock option” as defined in Section 422 of the Code (an “Incentive Stock Option”) shall only be granted to employees of Conformis, Inc., any of Conformis, Inc.’s present or future parent or subsidiary corporations as defined in Sections 424(e) or (f) of the Code, and any other entities the employees of which are eligible to receive Incentive Stock Options under the Code, and shall be subject to and shall be construed consistently with the requirements of Section 422 of the Code.  An Option that is not intended to be an Incentive Stock Option shall be designated a “Nonstatutory Stock Option.”  The Company shall have no liability to a Participant, or any other party, if an Option (or any part thereof) that is intended to be an Incentive Stock Option is not an Incentive Stock Option or if the Company converts an Incentive Stock Option to a Nonstatutory Stock Option.
(c)Exercise Price.  The Board shall establish the exercise price of each Option and specify the exercise price in the applicable Option agreement.  The exercise price shall be not less than 100% of the fair market value per share of Common Stock as determined by (or in a manner approved by) the Board (“Fair Market Value”) on the date the Option is granted; provided that if the Board approves the grant of an Option with an exercise price to be determined on a future date, the exercise price shall be not less than 100% of the Fair Market Value on such future date.

(d)Duration of Options.  Each Option shall be exercisable at such times and subject to such terms and conditions as the Board may specify in the applicable option agreement; provided, however, that no Option will be granted with a term in excess of 10 years.
(e)Exercise of Options.  Options may be exercised by delivery to the Company of a notice of exercise in a form (which may be electronic) approved by the Company, together with payment in full (in the manner specified in Section 5(f)) of the exercise price for the number of shares for which the Option is exercised.  Shares of Common Stock subject to the Option will be delivered by the Company as soon as practicable following exercise.
(f)Payment Upon Exercise.  Common Stock purchased upon the exercise of an Option granted under the Plan shall be paid for as follows:
(i)in cash or by check, payable to the order of the Company;
(ii)except as may otherwise be provided in the applicable Option agreement or approved by the Board, in its sole discretion, by (i) delivery of an irrevocable and unconditional undertaking by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price and any required tax withholding or (ii) delivery by the Participant to the Company of a copy of irrevocable and unconditional instructions to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price and any required tax withholding;
(iii)to the extent provided for in the applicable Option agreement or approved by the Board, in its sole discretion, by delivery (either by actual delivery or attestation) of shares of Common Stock owned by the Participant valued at their Fair Market Value, provided (i) such method of payment is then permitted under applicable law, (ii) such Common Stock, if acquired directly from the Company, was owned by the Participant for such minimum period of time, if any, as may be established by the Board in its discretion and (iii) such Common Stock is not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements;
(iv)to the extent provided for in the applicable Nonstatutory Stock Option agreement or approved by the Board in its sole discretion, by delivery of a notice of “net exercise” to the Company, as a result of which the Participant would receive (i) the number of shares underlying the portion of the Option being exercised, less (ii) such number of shares as is equal to (A) the aggregate exercise price for the portion of the Option being exercised divided by (B) the Fair Market Value on the date of exercise;
(v)to the extent permitted by applicable law and provided for in the applicable Option agreement or approved by the Board, in its sole discretion, by payment of such other lawful consideration as the Board may determine; or
(vi)by any combination of the above permitted forms of payment.
(g)Limitation on Repricing. Unless such action is approved by the Company’s stockholders, the Company may not (except as provided for under Section 9):  (1) amend any outstanding Option granted under the Plan to provide an exercise price per share that is lower than the then-current exercise price per share of such outstanding Option, (2) cancel any outstanding option (whether or not granted under the Plan) and grant in substitution therefor new Awards under the Plan (other than Awards granted pursuant to Section 4(b)) covering the same or a different number of shares of Common Stock and having an exercise price per share lower than the then-current exercise price per share of the cancelled option, (3) cancel in exchange for a cash payment any outstanding Option with an exercise price per share above the then-current Fair Market Value, or (4) take any other action under the Plan that constitutes a “repricing” within the meaning of the rules of the NASDAQ Stock Market (“NASDAQ”).

6.Stock Appreciation Rights
(a)General.  The Board may grant Awards consisting of stock appreciation rights (“SARs”) entitling the holder, upon exercise, to receive an amount of Common Stock or cash or a combination thereof (such form to be determined by the Board) determined by reference to appreciation, from and after the date of grant, in the Fair Market Value of a share of Common Stock over the measurement price established pursuant to Section 6(b).  The date as of which such appreciation is determined shall be the exercise date.  
(b)Measurement Price.  The Board shall establish the measurement price of each SAR and specify it in the applicable SAR agreement.  The measurement price shall not be less than 100% of the Fair Market Value on the date the SAR is granted; provided that if the Board approves the grant of an SAR effective as of a future date, the measurement price shall be not less than 100% of the Fair Market Value on such future date.
(c)Duration of SARs.  Each SAR shall be exercisable at such times and subject to such terms and conditions as the Board may specify in the applicable SAR agreement; provided, however, that no SAR will be granted with a term in excess of 10 years.
(d)Exercise of SARs.  SARs may be exercised by delivery to the Company of a notice of exercise in a form (which may be electronic) approved by the Company, together with any other documents required by the Board.
(e)Limitation on Repricing. Unless such action is approved by the Company’s stockholders, the Company may not (except as provided for under Section 9):  (1) amend any outstanding SAR granted under the Plan to provide a measurement price per share that is lower than the then-current measurement price per share of such outstanding SAR, (2) cancel any outstanding SAR (whether or not granted under the Plan) and grant in substitution therefor new Awards under the Plan (other than Awards granted pursuant to Section 4(b)) covering the same or a different number of shares of Common Stock and having an exercise or measurement price per share lower than the then-current measurement price per share of the cancelled SAR, (3) cancel in exchange for a cash payment any outstanding SAR with a measurement price per share above the then-current Fair Market Value, or (4) take any other action under the Plan that constitutes a “repricing” within the meaning of the rules of NASDAQ.
7.Restricted Stock; Restricted Stock Units
(a)General.  The Board may grant Awards entitling recipients to acquire shares of Common Stock (“Restricted Stock”), subject to the right of the Company to repurchase all or part of such shares at their issue price or other stated or formula price (or to require forfeiture of such shares if issued at no cost) from the recipient in the event that conditions specified by the Board in the applicable Award are not satisfied prior to the end of the applicable restriction period or periods established by the Board for such Award.  The Board may also grant Awards entitling the recipient to receive shares of Common Stock or cash to be delivered at the time such Award vests (“Restricted Stock Units”) (Restricted Stock and Restricted Stock Units are each referred to herein as a “Restricted Stock Award”).
(b)Terms and Conditions for All Restricted Stock Awards.  The Board shall determine the terms and conditions of a Restricted Stock Award, including the conditions for vesting and repurchase (or forfeiture) and the issue price, if any.  
(c)Additional Provisions Relating to Restricted Stock.  
(i)Dividends.  Unless otherwise provided in the applicable Award agreement, any dividends (whether paid in cash, stock or property) declared and paid by the Company with respect to shares of Restricted Stock (“Accrued Dividends”) shall be paid to the Participant only if and when such shares 

become free from the restrictions on transferability and forfeitability that apply to such shares.  Each payment of Accrued Dividends will be made no later than the end of the calendar year in which the dividends are paid to stockholders of that class of stock or, if later, the 15th day of the third month following the lapsing of the restrictions on transferability and the forfeitability provisions applicable to the underlying shares of Restricted Stock.  
(ii)Stock Certificates.  The Company may require that any stock certificates issued in respect of shares of Restricted Stock, as well as dividends or distributions paid on such Restricted Stock, shall be deposited in escrow by the Participant, together with a stock power endorsed in blank, with the Company (or its designee).  At the expiration of the applicable restriction periods, the Company (or such designee) shall deliver the certificates no longer subject to such restrictions to the Participant or if the Participant has died, to his or her Designated Beneficiary.  “Designated Beneficiary” means (i) the beneficiary designated, in a manner determined by the Board, by a Participant to receive amounts due or exercise rights of the Participant in the event of the Participant’s death or (ii) in the absence of an effective designation by a Participant, the Participant’s estate.
(d)Additional Provisions Relating to Restricted Stock Units.
(i)Settlement.  Upon the vesting of and/or lapsing of any other restrictions (i.e., settlement) with respect to each Restricted Stock Unit, the Participant shall be entitled to receive from the Company such number of shares of Common Stock or (if so provided in the applicable Award agreement) an amount of cash equal to the Fair Market Value of such number of shares of Common Stock as are set forth in the applicable Restricted Stock Unit agreement.  The Board may, in its discretion, provide that settlement of Restricted Stock Units shall be deferred, on a mandatory basis or at the election of the Participant in a manner that complies with Section 409A of the Code.
(ii)Voting Rights.  A Participant shall have no voting rights with respect to any Restricted Stock Units.
(iii)Dividend Equivalents.  The Award agreement for Restricted Stock Units may provide Participants with the right to receive an amount equal to any dividends or other distributions declared and paid on an equal number of outstanding shares of Common Stock (“Dividend Equivalents”).  Dividend Equivalents may be settled in cash and/or shares of Common Stock and shall be subject to the same restrictions on transfer and forfeitability as the Restricted Stock Units with respect to which paid, in each case to the extent provided in the Award agreement.
8.Other Stock-Based Awards
(a)General.  Other Awards of shares of Common Stock, and other Awards that are valued in whole or in part by reference to, or are otherwise based on, shares of Common Stock or other property, may be granted hereunder to Participants (“Other Stock-Based-Awards”).  Such Other Stock-Based Awards shall also be available as a form of payment in the settlement of other Awards granted under the Plan or as payment in lieu of compensation to which a Participant is otherwise entitled.  Other Stock-Based Awards may be paid in shares of Common Stock or cash, as the Board shall determine.    
(b)Terms and Conditions.  Subject to the provisions of the Plan, the Board shall determine the terms and conditions of each Other Stock-Based Award, including any purchase price applicable thereto.  
9.Adjustments for Changes in Common Stock and Certain Other Events
(a)Changes in Capitalization.  In the event of any stock split, reverse stock split, stock dividend, recapitalization, combination of shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any dividend or distribution to holders of Common Stock other than 

an ordinary cash dividend, (i) the number and class of securities available under the Plan, (ii) the share counting rules set forth in Section 4(a), (iii) the number and class of securities and exercise price per share of each outstanding Option, (iv) the share and per-share provisions and the measurement price of each outstanding SAR, (v) the number of shares subject to and the repurchase price per share subject to each outstanding award of Restricted Stock and (vi) the share and per-share-related provisions and the purchase price, if any, of each outstanding Restricted Stock Unit award and each outstanding Other Stock-Based Award, shall be equitably adjusted by the Company (or substituted Awards may be made, if applicable) in the manner determined by the Board.  Without limiting the generality of the foregoing, in the event the Company effects a split of the Common Stock by means of a stock dividend and the exercise price of and the number of shares subject to an outstanding Option are adjusted as of the date of the distribution of the dividend (rather than as of the record date for such dividend), then an optionee who exercises an Option between the record date and the distribution date for such stock dividend shall be entitled to receive, on the distribution date, the stock dividend with respect to the shares of Common Stock acquired upon such Option exercise, notwithstanding the fact that such shares were not outstanding as of the close of business on the record date for such stock dividend.  
(b)Reorganization Events.
(i)Definition.  A “Reorganization Event” shall mean:  (a) any merger or consolidation of the Company with or into another entity as a result of which all of the Common Stock of the Company is converted into or exchanged for the right to receive cash, securities or other property or is cancelled, (b) any transfer or disposition of all of the Common Stock of the Company for cash, securities or other property pursuant to a share exchange or other transaction or (c) any liquidation or dissolution of the Company.
(ii)Consequences of a Reorganization Event on Awards Other than Restricted Stock.  
(1)In connection with a Reorganization Event, the Board may take any one or more of the following actions as to all or any (or any portion of) outstanding Awards other than Restricted Stock on such terms as the Board determines (except to the extent specifically provided otherwise in an applicable Award agreement or another agreement between the Company and the Participant):  (i) provide that such Awards shall be assumed, or substantially equivalent Awards shall be substituted, by the acquiring or succeeding corporation (or an affiliate thereof), (ii) upon written notice to a Participant, provide that all of the Participant’s unvested and/or unexercised Awards will terminate immediately prior to the consummation of such Reorganization Event unless exercised by the Participant (to the extent then exercisable) within a specified period following the date of such notice, (iii) provide that outstanding Awards shall become exercisable, realizable, or deliverable, or restrictions applicable to an Award shall lapse, in whole or in part prior to or upon such Reorganization Event, (iv) in the event of a Reorganization Event under the terms of which holders of Common Stock will receive upon consummation thereof a cash payment for each share surrendered in the Reorganization Event (the “Acquisition Price”), make or provide for a cash payment to Participants with respect to each Award held by a Participant equal to (A) the number of shares of Common Stock subject to the vested portion of the Award (after giving effect to any acceleration of vesting that occurs upon or immediately prior to such Reorganization Event) multiplied by (B) the excess, if any, of (I) the Acquisition Price over (II) the exercise, measurement or purchase price of such Award and any applicable tax withholdings, in exchange for the termination of such Award, (v) provide that, in connection with a liquidation or dissolution of the Company, Awards shall convert into the right to receive liquidation proceeds (if applicable, net of the exercise, measurement or purchase price thereof and any applicable tax withholdings) and (vi) any combination of the foregoing.  In taking any of the actions permitted under this Section 9(b)(2), the Board shall not be obligated by the Plan to treat all Awards, all Awards held by a Participant, or all Awards of the same type, identically.  
(2)Notwithstanding the terms of Section 9(b)(2)(A), in the case of outstanding Restricted Stock Units that are subject to Section 409A of the Code: (i) if the applicable 

Restricted Stock Unit agreement provides that the Restricted Stock Units shall be settled upon a “change in control event” within the meaning of Treasury Regulation Section 1.409A-3(i)(5)(i), and the Reorganization Event constitutes such a “change in control event”, then no assumption or substitution shall be permitted pursuant to Section 9(b)(2)(A)(i) and the Restricted Stock Units shall instead be settled in accordance with the terms of the applicable Restricted Stock Unit agreement; and (ii) the Board may only undertake the actions set forth in clauses (iii), (iv) or (v) of Section 9(b)(2)(A) if the Reorganization Event constitutes a “change in control event” as defined under Treasury Regulation Section 1.409A-3(i)(5)(i) and such action is permitted or required by Section 409A of the Code; if the Reorganization Event is not a “change in control event” as so defined or such action is not permitted or required by Section 409A of the Code, and the acquiring or succeeding corporation does not assume or substitute the Restricted Stock Units pursuant to clause (i) of Section 9(b)(2)(A), then the unvested Restricted Stock Units shall terminate immediately prior to the consummation of the Reorganization Event without any payment in exchange therefor.
(3)For purposes of Section 9(b)(2)(A)(i), an Award (other than Restricted Stock) shall be considered assumed if, following consummation of the Reorganization Event, such Award confers the right to purchase or receive pursuant to the terms of such Award, for each share of Common Stock subject to the Award immediately prior to the consummation of the Reorganization Event, the consideration (whether cash, securities or other property) received as a result of the Reorganization Event by holders of Common Stock for each share of Common Stock held immediately prior to the consummation of the Reorganization Event (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares of Common Stock); provided, however, that if the consideration received as a result of the Reorganization Event is not solely common stock of the acquiring or succeeding corporation (or an affiliate thereof), the Company may, with the consent of the acquiring or succeeding corporation, provide for the consideration to be received upon the exercise or settlement of the Award to consist solely of such number of shares of common stock of the acquiring or succeeding corporation (or an affiliate thereof) that the Board determined to be equivalent in value (as of the date of such determination or another date specified by the Board) to the per share consideration received by holders of outstanding shares of Common Stock as a result of the Reorganization Event.
(iii)Consequences of a Reorganization Event on Restricted Stock.  Upon the occurrence of a Reorganization Event other than a liquidation or dissolution of the Company, the repurchase and other rights of the Company with respect to outstanding Restricted Stock shall inure to the benefit of the Company’s successor and shall, unless the Board determines otherwise, apply to the cash, securities or other property which the Common Stock was converted into or exchanged for pursuant to such Reorganization Event in the same manner and to the same extent as they applied to such Restricted Stock; provided, however, that the Board may provide for termination or deemed satisfaction of such repurchase or other rights under the instrument evidencing any Restricted Stock or any other agreement between a Participant and the Company, either initially or by amendment.  Upon the occurrence of a Reorganization Event involving the liquidation or dissolution of the Company, except to the extent specifically provided to the contrary in the instrument evidencing any Restricted Stock or any other agreement between a Participant and the Company, all restrictions and conditions on all Restricted Stock then outstanding shall automatically be deemed terminated or satisfied.
10.General Provisions Applicable to Awards
(a)Transferability of Awards.  Awards shall not be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution or, other than in the case of an Incentive Stock Option, pursuant to a qualified domestic relations order, and, during the life of the Participant, shall be exercisable only by the Participant; provided, however, that the Board may permit or provide in an Award for the gratuitous transfer of the Award by the Participant to or for the benefit of any immediate family member, family trust or other entity established for the benefit of the Participant and/or an immediate family member thereof if 

the Company would be eligible to use a Form S-8 under the Securities Act for the registration of the sale of the Common Stock subject to such Award to such proposed transferee; provided further, that the Company shall not be required to recognize any such permitted transfer until such time as such permitted transferee shall, as a condition to such transfer, deliver to the Company a written instrument in form and substance satisfactory to the Company confirming that such transferee shall be bound by all of the terms and conditions of the Award.  References to a Participant, to the extent relevant in the context, shall include references to authorized transferees.  For the avoidance of doubt, nothing contained in this Section 10(a) shall be deemed to restrict a transfer to the Company.
(b)Documentation.  Each Award shall be evidenced in such form (written, electronic or otherwise) as the Board shall determine.  Each Award may contain terms and conditions in addition to those set forth in the Plan.
(c)Board Discretion.  Except as otherwise provided by the Plan, each Award may be made alone or in addition or in relation to any other Award.  The terms of each Award need not be identical, and the Board need not treat Participants uniformly.  
(d)Termination of Status.  The Board shall determine the effect on an Award of the disability, death, termination or other cessation of employment, authorized leave of absence or other change in the employment or other status of a Participant and the extent to which, and the period during which, the Participant, or the Participant’s legal representative, conservator, guardian or Designated Beneficiary, may exercise rights under the Award.
(e)Withholding.  The Participant must satisfy all applicable federal, state, and local or other income and employment tax withholding obligations before the Company will deliver stock certificates or otherwise recognize ownership of Common Stock under an Award.  The Company may decide to satisfy the withholding obligations through additional withholding on salary or wages.  If the Company elects not to or cannot withhold from other compensation, the Participant must pay the Company the full amount, if any, required for withholding or have a broker tender to the Company cash equal to the withholding obligations.  Payment of withholding obligations is due before the Company will issue any shares on exercise, vesting or release from forfeiture of an Award or at the same time as payment of the exercise or purchase price, unless the Company determines otherwise.  If provided for in an Award or approved by the Board in its sole discretion, a Participant may satisfy such tax obligations in whole or in part by delivery (either by actual delivery or attestation) of shares of Common Stock, including shares retained from the Award creating the tax obligation, valued at their Fair Market Value; provided, however, except as otherwise provided by the Board, that the total tax withholding where stock is being used to satisfy such tax obligations cannot exceed the Company’s minimum statutory withholding obligations (based on minimum statutory withholding rates for federal and state tax purposes, including payroll taxes, that are applicable to such supplemental taxable income).  Shares used to satisfy tax withholding requirements cannot be subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements.
(f)Amendment of Award.  Except as otherwise provided in Sections 5(g) and 6(e) with respect to repricings and Section 11(d) with respect to actions requiring stockholder approval, the Board may amend, modify or terminate any outstanding Award, including but not limited to, substituting therefor another Award of the same or a different type, changing the date of exercise or realization, and converting an Incentive Stock Option to a Nonstatutory Stock Option.  The Participant’s consent to such action shall be required unless (i) the Board determines that the action, taking into account any related action, does not materially and adversely affect the Participant’s rights under the Plan or (ii) the change is permitted under Section 9.
(g)Conditions on Delivery of Stock.  The Company will not be obligated to deliver any shares of Common Stock pursuant to the Plan or to remove restrictions from shares previously issued or delivered under the Plan until (i) all conditions of the Award have been met or removed to the satisfaction of the Company, (ii) in the opinion of the Company’s counsel, all other legal matters in connection with the 

issuance and delivery of such shares have been satisfied, including any applicable securities laws and regulations and any applicable stock exchange or stock market rules and regulations, and (iii) the Participant has executed and delivered to the Company such representations or agreements as the Company may consider appropriate to satisfy the requirements of any applicable laws, rules or regulations.
(h)Acceleration.  The Board may at any time provide that any Award shall become immediately exercisable in whole or in part, free of some or all restrictions or conditions, or otherwise realizable in whole or in part, as the case may be.
11.Miscellaneous
(a)No Right To Employment or Other Status.  No person shall have any claim or right to be granted an Award by virtue of the adoption of the Plan, and the grant of an Award shall not be construed as giving a Participant the right to continued employment or any other relationship with the Company.  The Company expressly reserves the right at any time to dismiss or otherwise terminate its relationship with a Participant free from any liability or claim under the Plan, except as expressly provided in the applicable Award.
(b)No Rights As Stockholder.  Subject to the provisions of the applicable Award, no Participant or Designated Beneficiary shall have any rights as a stockholder with respect to any shares of Common Stock to be distributed with respect to an Award until becoming the record holder of such shares.
(c)Effective Date and Term of Plan.  The Plan shall become effective immediately prior to the effectiveness of the Company’s initial public offering (the “Effective Date”).  No Awards shall be granted under the Plan after the expiration of 10 years from the Effective Date, but Awards previously granted may extend beyond that date.
(d)Amendment of Plan.  The Board may amend, suspend or terminate the Plan or any portion thereof at any time provided that (i) to the extent required by Section 162(m) of the Code, no Award granted to a Participant that is intended to comply with Section 162(m) of the Code after the date of such amendment shall become exercisable, realizable or vested, as applicable to such Award, unless and until the Company’s stockholders approve such amendment in the manner required by Section 162(m) of the Code; and (ii) no amendment that would require stockholder approval under the rules of the NASDAQ Stock Market may be made effective unless and until the Company’s stockholders approve such amendment.  In addition, if at any time the approval of the Company’s stockholders is required as to any other modification or amendment under Section 422 of the Code or any successor provision with respect to Incentive Stock Options, the Board may not effect such modification or amendment without such approval.  Unless otherwise specified in the amendment, any amendment to the Plan adopted in accordance with this Section 11(d) shall apply to, and be binding on the holders of, all Awards outstanding under the Plan at the time the amendment is adopted, provided the Board determines that such amendment, taking into account any related action, does not materially and adversely affect the rights of Participants under the Plan.  No Award shall be made that is conditioned upon stockholder approval of any amendment to the Plan unless the Award provides that (i) it will terminate or be forfeited if stockholder approval of such amendment is not obtained within no more than 12 months from the date of grant and (2) it may not be exercised or settled (or otherwise result in the issuance of Common Stock) prior to such stockholder approval. 
(e)Authorization of Sub-Plans (including for Grants to non-U.S. Employees).  The Board may from time to time establish one or more sub-plans under the Plan for purposes of satisfying applicable securities, tax or other laws of various jurisdictions.  The Board shall establish such sub-plans by adopting supplements to the Plan containing (i) such limitations on the Board’s discretion under the Plan as the Board deems necessary or desirable or (ii) such additional terms and conditions not otherwise 

inconsistent with the Plan as the Board shall deem necessary or desirable.  All supplements adopted by the Board shall be deemed to be part of the Plan, but each supplement shall apply only to Participants within the affected jurisdiction and the Company shall not be required to provide copies of any supplement to Participants in any jurisdiction which is not the subject of such supplement.  
(f)Compliance with Section 409A of the Code.  Except as provided in individual Award agreements initially or by amendment, if and to the extent (i) any portion of any payment, compensation or other benefit provided to a Participant pursuant to the Plan in connection with his or her employment termination constitutes “nonqualified deferred compensation” within the meaning of Section 409A of the Code and (ii) the Participant is a specified employee as defined in Section 409A(a)(2)(B)(i) of the Code, in each case as determined by the Company in accordance with its procedures, by which determinations the Participant (through accepting the Award) agrees that he or she is bound, such portion of the payment, compensation or other benefit shall not be paid before the day that is six months plus one day after the date of “separation from service” (as determined under Section 409A of the Code) (the “New Payment Date”), except as Section 409A of the Code may then permit.  The aggregate of any payments that otherwise would have been paid to the Participant during the period between the date of separation from service and the New Payment Date shall be paid to the Participant in a lump sum on such New Payment Date, and any remaining payments will be paid on their original schedule.
The Company makes no representations or warranty and shall have no liability to the Participant or any other person if any provisions of or payments, compensation or other benefits under the Plan are determined to constitute nonqualified deferred compensation subject to Section 409A of the Code but do not to satisfy the conditions of that section.
(g)Limitations on Liability.  Notwithstanding any other provisions of the Plan, no individual acting as a director, officer, employee or agent of the Company will be liable to any Participant, former Participant, spouse, beneficiary, or any other person for any claim, loss, liability, or expense incurred in connection with the Plan, nor will such individual be personally liable with respect to the Plan because of any contract or other instrument he or she executes in his or her capacity as a director, officer, employee or agent of the Company.  The Company will indemnify and hold harmless each director, officer, employee or agent of the Company to whom any duty or power relating to the administration or interpretation of the Plan has been or will be delegated, against any cost or expense (including attorneys’ fees) or liability (including any sum paid in settlement of a claim with the Board’s approval) arising out of any act or omission to act concerning the Plan unless arising out of such person’s own fraud or bad faith.
(h)Governing Law.  The provisions of the Plan and all Awards made hereunder shall be governed by and interpreted in accordance with the laws of the State of Delaware, excluding choice-of-law principles of the law of such state that would require the application of the laws of a jurisdiction other than the State of Delaware.

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