Document:

Exhibit 4.2

 

WARRANT ASSIGNMENT, ASSUMPTION AND AMENDMENT AGREEMENT

 

This Warrant Assignment, Assumption
and Amendment Agreement (this “Agreement”) is made as of [●], by and among Tastemaker Acquisition Corp., a Delaware
corporation (the “Company” or “Tastemaker”), Quality Gold Holdings, Inc., a Delaware corporation
(“Parentco”), and Continental Stock Transfer & Trust Company, a New York corporation (the “Warrant Agent”).

 

WHEREAS,
the Company and the Warrant Agent are parties to that certain Warrant Agreement, dated as of January 7, 2021 (the “Existing Warrant
Agreement”; capitalized terms used but not defined in this Agreement shall have the meanings ascribed to such terms in the Existing
Warrant Agreement);

 

WHEREAS,
pursuant to the Existing Warrant Agreement, the Company issued 8,700,000 Private Placement Warrants to the Sponsor and 13,800,000 Public
Warrants to public investors;

 

WHEREAS,
all of the Warrants are governed by the Existing Warrant Agreement;

 

WHEREAS,
on October 20, 2022, a Business Combination Agreement (the “Business Combination Agreement”) was entered into by and
among the Company, Parentco, Tastemaker Merger Sub, Inc., a Delaware corporation (“Merger Sub I”), QGM Merger Sub,
Inc., an Ohio corporation (“Merger Sub II”), J&M Merger Sub, Inc., a Delaware corporation (“Merger Sub
III”), L&L Merger Sub, Inc., an Ohio corporation (“Merger Sub IV”), Quality Gold Merger Sub, Inc., an
Ohio corporation (“Merger Sub V”), Quality Gold, Inc., an Ohio corporation (“Quality Gold”), QGM,
LLC, an Ohio limited liability company (“QGM”), J & M Group Holdings Inc., a Delaware corporation (“J&M”)
and L & L Group Holdings, LLC, an Ohio limited liability company (“L&L”);

 

WHEREAS,
pursuant to the provisions of the Business Combination Agreement, among other things, (a) Merger Sub I will merge with and into Tastemaker,
with Tastemaker surviving the merger as a wholly-owned subsidiary of Parentco (the “First Merger”), and, as a result
of the First Merger, among other things, all shares of Common Stock shall be converted into the right to receive shares of common stock
of Parentco (“Parentco Common Stock”) and (b) Merger Sub II will merge with and into QGM, with QGM surviving the merger
as a wholly-owned subsidiary of Parentco, Merger Sub III will merge with and into J&M, with J&M surviving the merger as a wholly-owned
subsidiary of Parentco, Merger Sub IV will merge with and into L&L, with L&L surviving the merger as a wholly-owned subsidiary
of Parentco, and Merger Sub V will merge with and into Quality Gold, with Quality Gold surviving the merger as a wholly-owned subsidiary
of Parentco;

 

WHEREAS,
upon consummation of the First Merger, as provided in Section 4.4 of the Existing Warrant Agreement, each of the issued and outstanding
Warrants will no longer be exercisable for shares of Common Stock but instead will be exercisable (subject to the terms and conditions
of the Existing Warrant Agreement as amended hereby) for shares of Parentco Common Stock;

 

WHEREAS,
the board of directors of the Company has determined that the consummation of the transactions contemplated by the Business Combination
Agreement will constitute a Business Combination;

 

     

     

    

 

WHEREAS,
in connection with the First Merger, the Company desires to assign all of its right, title and interest in the Existing Warrant Agreement
to Parentco and Parentco wishes to accept such assignment;

 

WHEREAS,
Section 9.8 of the Existing Warrant Agreement provides that the Company and the Warrant Agent may amend the Existing Warrant Agreement
without the consent of any registered holders for the purpose of curing any ambiguity, or curing, correcting or supplementing any defective
provision contained therein or adding or changing any other provisions with respect to matters or questions arising under the Existing
Warrant Agreement as the Company and the Warrant Agent may deem necessary or desirable and that the Company and the Warrant Agent deem
shall not adversely affect the interest of the registered holders; and

 

WHEREAS,
the parties hereto desire to memorialize the impact of the Alternative Issuance on the Existing Warrant Agreement, and the assignment
and assumption thereof, in accordance with Section 4.4 of the Existing Warrant Agreement.

 

NOW,
THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements contained herein, the receipt and sufficiency
of which is hereby acknowledged, and intending to be legally bound, the parties hereto hereby agree as follows:

 

1.                 
Assignment and Assumption; Consent.

 

1.1             
Assignment and Assumption. The Company hereby assigns to Parentco all of the Company’s right, title and interest in
and to the Existing Warrant Agreement (as amended hereby) as of the Effective Time (as defined in the Business Combination Agreement).
Parentco hereby assumes, and agrees to pay, perform, satisfy and discharge in full, as the same become due, all of the Company’s
liabilities and obligations under the Existing Warrant Agreement (as amended hereby) arising from and after the Effective Time.

 

1.2             
Consent. The Warrant Agent hereby consents to the assignment of the Existing Warrant Agreement by the Company to Parentco
pursuant to Section 1.1 hereof effective as of the Effective Time, and the assumption of the Existing Warrant Agreement by Parentco
from the Company pursuant to Section 1.1 hereof effective as of the Effective Time, and to the continuation of the Existing Warrant
Agreement in full force and effect from and after the Effective Time, subject at all times to the Existing Warrant Agreement (as amended
hereby) and to all of the provisions, covenants, agreements, terms and conditions of the Existing Warrant Agreement and this Agreement.

 

2.                 
Amendment of Existing Warrant Agreement. The Company and the Warrant Agent hereby amend the Existing Warrant Agreement as
provided in this Section 2, effective as of the Effective Time, and acknowledge and agree that the amendments to the Existing Warrant
Agreement set forth in this Section 2 are necessary or desirable and that such amendments do not adversely affect the interests
of the registered holders.

 

2.1             
Preamble. The preamble on page one of the Existing Warrant Agreement is hereby amended by deleting “Tastemaker Acquisition
Corp., a Delaware corporation” and replacing it with “Quality Gold Holdings, Inc., a Delaware corporation”. As a result
thereof, all references to the “Company” in the Existing Warrant Agreement shall be references to Quality Gold Holdings, Inc.
rather than Tastemaker Acquisition Corp.

 

    2

     

    

 

2.2             
Recitals. The recitals on pages one and two of the Existing Warrant Agreement are hereby deleted and replaced in their entirety
as follows:

 

“WHEREAS,
on January 7, 2021, Tastemaker Acquisition Corp., a Delaware corporation (“Tastemaker”) entered into that certain
Private Placement Warrants Purchase Agreement with Tastemaker Sponsor LLC, a Delaware limited liability company (the “Sponsor”),
pursuant to which the Sponsor agreed to purchase 8,250,000 redeemable warrants in connection with the Offering (as defined below) (or
up to 8,700,000 warrants if the underwriters’ over-allotment option is exercised in full) simultaneously with the closing of the
Offering bearing the legend set forth in Exhibit B hereto (the “Private Placement Warrants”) at a purchase
price of $1.00 per Private Placement Warrant; and

 

WHEREAS, on January
12, 2021, Tastemaker consummated its initial public offering (the “Offering”) of units of Tastemaker’s
equity securities, each such unit comprised of one share of Common Stock (as defined below) and one-half of one Public Warrant (as defined
below) (the “Units”) and, in connection therewith, issued and delivered 13,800,000 warrants to public investors
in the Offering (the “Public Warrants” and, together with the Private Placement Warrants, the “Tastemaker
Warrants”). Each whole Warrant entitles the holder thereof to purchase one share of Class A common stock of Tastemaker,
par value $0.0001 per share (“Tastemaker Common Stock”), for $11.50 per share, subject to adjustment as described
herein; and

 

WHEREAS, Tastemaker
filed with the U.S. Securities and Exchange Commission (the “Commission”) registration statements on Form S-1,
No. 333-249278 and 333-251953 (together, the “Registration Statement”) for the registration, under the Securities
Act of 1933, as amended (the “Securities Act”), of the Units, the Public Warrants and the Tastemaker Common
Stock included in the Units; and

 

WHEREAS, Tastemaker,
the Company, Tastemaker Merger Sub, Inc., a Delaware corporation (“Merger Sub I”), QGM Merger Sub, Inc., an
Ohio corporation (“Merger Sub II”), J&M Merger Sub, Inc., a Delaware corporation (“Merger Sub
III”), L&L Merger Sub, Inc., an Ohio corporation (“Merger Sub IV”), Quality Gold Merger Sub,
Inc., an Ohio corporation (“Merger Sub V”), Quality Gold, Inc., an Ohio corporation (“Quality Gold”),
QGM, LLC, an Ohio limited liability company (“QGM”), J & M Group Holdings, Inc., a Delaware corporation
(“J&M”) and L & L Group Holdings, LLC, an Ohio limited liability company (“L&L”),
entered into a business combination agreement on October 20, 2022 (the “Business Combination Agreement”) pursuant
to which Merger Sub I will merge with and into Tastemaker, with Tastemaker surviving the merger as a wholly-owned subsidiary of the Company
and, as a result of such merger, among other things, all shares of Tastemaker Common Stock shall be converted into the right to receive
shares of common stock of the Company (“Company Common Stock”), Merger Sub II will merge with and into QGM,
with QGM surviving the merger as a wholly-owned subsidiary of the Company, Merger Sub III will merge with and into J&M, with J&M
surviving the merger as a wholly-owned subsidiary of the Company, Merger Sub IV will merge with and into L&L, with L&L surviving
the merger as a wholly-owned subsidiary of the Company, and Merger Sub V will merge with and into Quality Gold, with Quality Gold surviving
the merger as a wholly-owned subsidiary of the Company; and

 

    3

     

    

 

WHEREAS, in connection
with the transactions contemplated by the Business Combination Agreement, on [●], the Company, Tastemaker, and the Warrant Agent
entered into an Assignment, Assumption and Amendment Agreement (the “Warrant Assumption Agreement”), pursuant
to which Tastemaker assigned this Agreement to the Company and the Company assumed this Agreement from Tastemaker; and

 

WHEREAS, pursuant
to the Business Combination Agreement, the Warrant Assumption Agreement and Section 4.4 of this Agreement, effective as of the
Effective Time (as defined in the Business Combination Agreement), each of the issued and outstanding Tastemaker Warrants will no longer
be exercisable for shares of Tastemaker Common Stock but instead will be exercisable (subject to the terms and conditions of this Agreement)
for shares of Company Common Stock (each a “Warrant” and collectively with the Post-IPO Warrants (as defined
below), the “Warrants”); and

 

WHEREAS, following
consummation of the transactions contemplated by the Business Combination Agreement, the Company may issue additional warrants (the “Post-IPO
Warrants”); and

 

WHEREAS, the Company
desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance,
registration, transfer, exchange, redemption and exercise of the Warrants; and

 

WHEREAS, the Company
desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and the respective
rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and

 

WHEREAS, all acts
and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and countersigned
by or on behalf of the Warrant Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize the
execution and delivery of this Agreement.

 

NOW, THEREFORE,
in consideration of the mutual agreements herein contained, the parties hereto agree as follows:”

 

2.3             
Detachability of Warrants. Section 2.4 of the Existing Warrant Agreement is hereby deleted and replaced with the following:

 

“[INTENTIONALLY
OMITTED]”

 

Except
that the defined term “Business Day” set forth therein shall be retained for all purposes of the Existing Warrant
Agreement.

 

    4

     

    

 

2.4             
Deletion of Section 2.7. Section 2.7 of the Existing Warrant Agreement is hereby deleted in its entirety and replaced with
 “[Reserved]”. All references in the Existing Warrant Agreement to “Working Capital Warrants” are hereby deleted.

 

2.5             
Duration of Warrants. The first sentence of Section 3.2 of the Existing Warrant Agreement is hereby deleted and replaced
with the following:

 

“A
Warrant may be exercised only during the period (the “Exercise Period”) commencing on the date that is thirty
(30) days after the consummation of the transactions contemplated by the Business Combination Agreement (the “Business Combination”),
and terminating at 5:00 p.m., New York City time on the earlier to occur of: (x) the date that is five (5) years after the date on which
the Business Combination is completed, (y) the liquidation of the Company, or (z) other than with respect to the Private Placement Warrants
to the extent then held by the original purchasers thereof or their Permitted Transferees, the Redemption Date (as defined below) as provided
in Section 6.3 hereof (the “Expiration Date”); provided, however, that the exercise
of any Warrant shall be subject to the satisfaction of any applicable conditions, as set forth in Subsection 3.3.2 below with respect
to an effective registration statement.”

 

2.6             
Extraordinary Dividends. Section 4.1.2 of the Existing Warrant Agreement is hereby amended by adding the word “or”
before clause (b) of such section and deleting clauses (c)-(e) of such section.

 

3.                 
Miscellaneous Provisions.

 

3.1             
Effectiveness of Warrant. Each of the parties
hereto acknowledges and agrees that the effectiveness of this Agreement shall be expressly subject to the occurrence of the First Merger
(as defined in the Business Combination Agreement) and shall automatically be terminated and shall be null and void if the Business Combination
Agreement shall be terminated for any reason.

 

3.2             
Successors. All the covenants and provisions of this Agreement by or for the benefit of the parties hereto shall bind and
inure to the benefit of their respective successors and assigns.

 

3.3             
Applicable Law. The validity, interpretation and performance of this Agreement shall be governed in all respects by the
laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive
laws of another jurisdiction. The parties hereby agree that any action, proceeding or claim against a party arising out of or relating
in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court
for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. Each of the
parties hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

 

3.4             
Examination of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office
of the Warrant Agent in the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Warrant.
The Warrant Agent may require any such holder to submit such holder’s Warrant for inspection by the Warrant Agent.

 

    5

     

    

 

3.5             
Counterparts. This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts
shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

3.6             
Effect of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not
affect the interpretation thereof.

 

3.7             
Severability. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision
hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu
of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement
a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

3.8             
Entire Agreement. This Agreement and the Existing Warrant Agreement, as modified by this Agreement, constitutes the entire
understanding of the parties and supersedes all prior agreements, understandings, arrangements, promises and commitments, whether written
or oral, express or implied, relating to the subject matter hereof, and all such prior agreements, understandings, arrangements, promises
and commitments are hereby canceled and terminated.

 

[Remainder
of page intentionally left blank.]

 

    6

     

    

 

IN
WITNESS WHEREOF, each of the parties has caused this Agreement to be duly executed as of the date first above written.

 

	 	Tastemaker Acquisition Corp.
	 	 
	 	By:	                         
	 	Name: Christopher Bradley
	 	Title: Chief Financial Officer
	 	 
	 	QUALITY GOLD HOLDINGS, INC.
	 	 
	 	By:	   
	 	Name: Michael Langhammer
	 	Title: Chief Executive Officer
	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent
	 	 
	 	By:	   
	 	Name: [●]
	 	Title: [●]

 

[Signature Page to Warrant Assignment, Assumption and Amendment Agreement]Exhibit 10.9

 

QUALITY
GOLD HOLDINGS, INC.

 

2023
INCENTIVE COMPENSATION PLAN

 

Section 1—
Introduction

 

1.1           Effectiveness.
Effective as of the Effective Date (as defined below), the Quality Gold Holdings, Inc. 2023 Incentive Compensation Plan is hereby
established.

 

1.2           Purpose.
The purpose of the Plan is to provide (i) designated employees and consultants of the Company and its subsidiaries and (ii) non-employee
members of the Board with the opportunity to receive grants of Options, Stock Units, Stock Awards, SARs and Other Stock-Based Awards.
The Company believes that the Plan will encourage the Participants to contribute materially to the growth of the Company, thereby benefiting
the Company’s shareholders, and will align the economic interests of the Participants with those of the shareholders.

 

Section 2—Definitions

 

As used in the Plan, the following terms will have
the respective meanings set forth below:

 

2.1           “Board”
means the Company’s Board of Directors.

 

2.2           A
 “Change of Control” shall be deemed to have taken place for purposes of the Plan if:

 

(a)           any
Person (as defined in this Section 2.2) is or becomes the Beneficial Owner (as defined in this Section 2.2) of securities of
the Company representing more than 50% of the combined voting power of the Company’s then outstanding securities (unless such Person
is the Beneficial Owner of more than 50% of such securities as of the Effective Date);

 

(b)           during
any period of two consecutive years beginning after the Effective Date, individuals who at the beginning of such period constitute the
Board and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect
a transaction described in clause (a), (c) or (d) of this Change of Control definition) whose election or nomination for election
was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the
period or whose election or nomination for election was previously so approved cease for any reason to constitute a majority of the Board;

 

(c)           the
consummation of a merger or consolidation of the Company with any other corporation (other than a merger or consolidation which would
result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding
or by being converted into voting securities of the entity surviving such merger or consolidation), in combination with voting securities
of the Company or such surviving entity held by a trustee or other fiduciary pursuant to any employee benefit plan of the Company or such
surviving entity or of any subsidiary of the Company or such surviving entity, at least 50% of the combined voting power of the securities
of the Company or such surviving entity outstanding immediately after such merger or consolidation);

 

(d)           the
shareholders of the Company approve a plan of complete liquidation or dissolution of the Company; or

 

(e)           the
consummation of an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets.

 

For purposes of the definition
of Change of Control, “Person” shall have the meaning ascribed to such term in Section 3(a)(9) of
the Exchange Act as supplemented by Section 13(d)(3) of the Exchange Act; provided, however, that Person shall not include (i) the
Company, any subsidiary or any other Person controlled by the Company, (ii) any trustee or other fiduciary holding securities under
any employee benefit plan of the Company or of any subsidiary, or (iii) a corporation owned, directly or indirectly, by the shareholders
of the Company in substantially the same proportions as their ownership of securities of the Company.

 

    1 

     

    

 

For purposes of the definition
of Change of Control, a Person shall be deemed the “Beneficial Owner” of any securities which such Person, directly
or indirectly, has the right to vote or dispose of or has “beneficial ownership” (within the meaning of Rule 13d-3 under
the Exchange Act) of, including pursuant to any agreement, arrangement or understanding (whether or not in writing); provided, however,
that: (i) a Person shall not be deemed the Beneficial Owner of any security as a result of an agreement, arrangement or understanding
to vote such security (x) arising solely from a revocable proxy or consent given in response to a public proxy or consent solicitation
made pursuant to, and in accordance with, the Exchange Act and the applicable rules and regulations thereunder or (y) made in
connection with, or to otherwise participate in, a proxy or consent solicitation made, or to be made, pursuant to, and in accordance with,
the applicable provisions of the Exchange Act and the applicable rules and regulations thereunder; in either case described in clause
(x) or clause (y) above, whether or not such agreement, arrangement or understanding is also then reportable by such Person
on Schedule 13D under the Exchange Act (or any comparable or successor report); and (ii) a Person engaged in business as an underwriter
of securities shall not be deemed to be the Beneficial Owner of any securities acquired through such Person’s participation in good
faith in a firm commitment underwriting until the expiration of forty days after the date of such acquisition.

 

Notwithstanding the foregoing,
for any Grants subject to the requirements of section 409A of the Code that will become payable on a Change of Control, the transaction
constituting a “Change of Control” must also constitute a “change in control event” for purposes of section 409A(a)(2)(A)(v) of
the Code.

 

2.3           “Code”
means the Internal Revenue Code of 1986, as amended and the regulations promulgated thereunder.

 

2.4           “Committee”
means (i) with respect to Grants to Employees or Consultants, the Compensation Committee of the Board or another committee appointed
by the Board to administer the Plan, and (ii) with respect to Grants made to Non-Employee Directors, the Board.

 

2.5           “Company”
means Quality Gold Holdings, Inc., its subsidiary corporations or other entities and any successor corporation, as determined by
the Committee.

 

2.6           “Company
Stock” means the common stock of the Company, $0.0001 par value per share, or any stock or other securities of the Company
hereafter issued or issuable in substitution or exchange for the common stock.

 

2.7           “Consultant”
means any person who is classified by the Employer as a “contractor” or “consultant” of the Employer.

 

2.8           “Disability”
means a Participant’s becoming disabled within the meaning of Section 22(e)(3) of the Code.

 

2.9           “Dividend
Equivalent” means an amount calculated with respect to a Stock Award or Stock Unit, which is determined by multiplying the
number of shares of Company Stock subject to the Stock Award or Stock Unit by the per-share cash dividend, or the per-share fair market
value (as determined by the Committee) of any dividend in consideration other than cash, paid by the Company on its Company Stock. If
interest is credited on accumulated dividend equivalents, the term “Dividend Equivalent” shall include the accrued interest.

 

2.10           “Effective
Date” of the Plan means [•], 2023, provided that the Plan is approved by the shareholders of the Company on
that date.

 

2.11           “Employee”
means an employee of the Employer (including an officer or director who is also an employee).

 

2.12           “Employer”
means the Company and its subsidiaries.

 

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

 

    2 

     

    

 

 

2.14           “Exercise
Price” means the per share price at which shares of Company Stock may be purchased under an Option, as designated by the
Committee.

 

2.15           “Fair
Market Value” of Company Stock means, (i) if the principal trading market for the Company Stock is a national securities
exchange, the last reported sale price of Company Stock during regular trading hours on the relevant date or (if there were no trades
on that date) the last reported sale price of Company Stock during regular trading hours on the latest preceding date upon which a sale
was reported, (ii) if the Company Stock is not principally traded on such exchange, the mean between the last reported “bid”
and “asked” prices of Company Stock on the relevant date, as reported on the OTC Bulletin Board, or (iii) if the Company
Stock is not publicly traded or, if publicly traded, is not so reported, the Fair Market Value per share shall be as determined by the
Committee.

 

2.16           “Grant”
means an Option, Stock Unit, Stock Award, SAR or Other Stock-Based Award granted under the Plan.

 

2.17           “Grant
Agreement” means the written instrument that sets forth the terms and conditions of a Grant, including all amendments thereto.

 

2.18           “Incentive
Stock Option” means an Option that is intended to meet the requirements of an incentive stock option under section 422 of
the Code.

 

2.19           “Non-Employee
Director” means a member of the Board who is not an Employee.

 

2.20           “Nonqualified
Stock Option” means an Option that is not intended to be taxed as an incentive stock option under section 422 of
the Code.

 

2.21           “Option”
means an option to purchase shares of Company Stock, as described in Section 7.

 

2.22           “Other
Stock-Based Award” means any Grant based on, measured by or payable in Company Stock (other than an Option, Stock Unit,
Stock Award or SAR), as described in Section 11.

 

2.23           “Participant”
means an Employee, Consultant or a Non-Employee Director designated by the Committee to participate in the Plan.

 

2.24           “Plan”
means this Quality Gold Holdings, Inc. 2023 Incentive Compensation Plan, as may be amended from time to time.

 

2.25           “SAR”
means a stock appreciation right as described in Section 10.

 

2.26           “Stock
Award” means an award of Company Stock as described in Section 9.

 

2.27           “Stock
Unit” means an award of a phantom unit representing a share of Company Stock, as described in Section 8.

 

Section 3—Administration

 

3.1           Committee.
The Plan shall be administered and interpreted by the Committee. Ministerial functions may be performed by an administrative committee
comprised of Company employees appointed by the Committee.

 

3.2           Committee
Authority. The Committee shall have the sole authority to (i) determine the Participants to whom Grants shall be made
under the Plan, (ii) determine the type, size and terms and conditions of the Grants to be made to each such Participant, (iii) determine
the time when the Grants will be made and the duration of any applicable exercise or restriction period, including the criteria for exercisability
and the acceleration of exercisability, (iv) amend the terms and conditions of any previously issued Grant, subject to the provisions
of Section 17, and (v) deal with any other matters arising under the Plan.

 

    3 

     

    

 

3.3           Committee
Determinations. The Committee shall have full power and express discretionary authority to administer and interpret the Plan,
to make factual determinations and to adopt or amend such rules, regulations, agreements and instruments for implementing the Plan and
for the conduct of its business as it deems necessary or advisable, in its sole discretion. Without limiting the generality of the preceding
sentence, the Committee shall have the exclusive right to: (i) interpret the Plan and the Grant Agreements executed hereunder; (ii) decide
all questions concerning eligibility for, and the amount of, Grants granted under the Plan; (iii) construe any ambiguous provision
of the Plan or any Grant Agreement; (iv) prescribe the form of Grant Agreements; (v) correct any defect, supply any omission
or reconcile any inconsistency in the Plan or any Grant Agreement; (vi) issue administrative guidelines as an aid to administering
the Plan and make changes in such guidelines as the Committee from time to time deems proper; (vii) make regulations for carrying
out the Plan and make changes in such regulations as the Committee from time to time deems proper; (viii) determine whether Grants
should be granted singly or in combination; (ix) to the extent permitted under the Plan, grant waivers of Plan terms, conditions,
restrictions and limitations; (x) accelerate the exercise, vesting or payment of a Grant when such action or actions would be in
the best interests of the Company; (xi) require Participants to hold a stated number or percentage of shares of Company Stock acquired
pursuant to a Grant for a stated period; and (xii) take any and all other actions the Committee deems necessary or advisable for
the proper operation or administration of the Plan. The decisions of the Committee and its actions with respect to the Plan shall be final,
conclusive and binding on all persons having or claiming to have any right or interest in or under the Plan.

 

3.4           Liability;
Indemnification. No member of the Committee, nor any person to whom it has delegated authority, shall be personally liable
for any action, interpretation or determination made in good faith with respect to the Plan or Grants granted hereunder, and each member
of the Committee (or delegatee of the Committee) shall be fully indemnified and protected by the Company with respect to any liability
he may incur with respect to any such action, interpretation or determination, to the maximum extent permitted by applicable law.

 

Section 4—Grants

 

Grants under the Plan may
consist of Options as described in Section 7, Stock Units as described in Section 8, Stock Awards as described in Section 9,
SARs as described in Section 10 and Other Stock-Based Awards as described in Section 11. All Grants shall be subject to such
terms and conditions as the Committee deems appropriate and as are specified in writing by the Committee to the Participant in the Grant
Agreement. By acceptance of the Grant, a Participant acknowledges that all decisions and determinations of the Committee shall be final
and binding on the Participant, his or her beneficiaries and any other person having or claiming an interest under such Grant. Grants
under a particular Section of the Plan need not be uniform as among the Participants.

 

Notwithstanding the Committee’s
discretion granted under the Plan to determine the vesting provisions applicable to a Grant, the vesting provisions shall, in all events,
be subject to the provisions of this Section 4. Incremental vesting of portions of the Grant over the vesting period is permitted.
Notwithstanding the foregoing, the Grant Agreement may provide for vesting to occur upon the Participant’s death, Disability or
retirement or, subject to the limitations contained herein, in the event of a Change of Control.

 

Section 5—Shares
Subject To Plan

 

5.1           Shares
Authorized. Subject to adjustment as described below in Section 5.4, the total aggregate number of shares of Company Stock
that may be issued or transferred under the Plan shall be [•]1.
The maximum aggregate number of shares of Company Stock with respect to which all Grants of Incentive Stock Options may be made under
the Plan shall be [•] shares, subject to adjustment as described below in Section 5.4.

 

 

1 NTD: Insert number equal to 15% of the issued and outstanding
shares of the Company as of the Effective Date.

 

    4 

     

    

 

5.2           Source
of Shares; Share Counting. All Grants under the Plan shall be expressed in shares of Company Stock. Shares issued or transferred
under the Plan may be authorized but unissued shares of Company Stock or reacquired shares of Company Stock, including shares purchased
by the Company on the open market for purposes of the Plan. If and to the extent Options or SARs granted under the Plan terminate, expire,
or are canceled, forfeited, exchanged or surrendered without having been exercised, and if and to the extent that any Stock Awards, Stock
Units, or Other Stock-Based Awards are forfeited or terminated, or otherwise are not paid in full, the shares reserved for such Grants
shall again be available for purposes of the Plan. If shares of Company Stock otherwise issuable under the Plan are surrendered in payment
of the Exercise Price of an Option, then the number of shares of Company Stock available for issuance under the Plan shall be reduced
by the gross number of shares as to which such Option is exercised. If shares of Company Stock otherwise issuable under the Plan are withheld
by the Company in satisfaction of the withholding taxes incurred in connection with the issuance, vesting or exercise of any Grant or
the issuance of Company Stock thereunder, then the number of shares of Company Stock available for issuance under the Plan shall be reduced
by the number of shares issued, vested or exercised under such Grant, calculated in each instance before payment of such share withholding.
Upon the exercise of a SAR, then both for purposes of calculating the number of shares of Company Stock remaining available for issuance
under the Plan and the number of shares of Company Stock remaining available for exercise under such SAR, the number of such shares shall
be reduced by the net number of shares for which the SAR is exercised, and without regard to any cash settlement of a SAR. To the extent
that any Grants are paid in cash and not in shares of Company Stock, such Grants shall not count against the share limits in Section 5.1.

 

5.3           Individual
Limits. The maximum aggregate “fair value” as of the date of grant, as determined in accordance with FASB ASC Topic
718 (or any other applicable accounting guidance), of Company Stock with respect to which all Grants may be made under the Plan during
any calendar year to any Non-Employee Director shall be $[•] via Options and SARs and $[•] via Stock Awards or Stock Units (provided,
however, that such limits do not apply to cash-based directors fees which directors elect to have paid in Company Stock instead), subject
to adjustment as described in Section 5.4 below. The individual limits of this Section 5.3 shall apply without regard to whether
the Grants are to be paid in Company Stock or cash. All cash payments (other than with respect to Dividend Equivalents) shall equal the
Fair Market Value of the shares of Company Stock to which the cash payments relate.

 

5.4           Adjustments.
If there is any change in the number or kind of shares of Company Stock outstanding (i) by reason of a stock dividend, spinoff, recapitalization,
stock split, or combination or exchange of shares, (ii) by reason of a merger, reorganization or consolidation, (iii) by reason
of a reclassification or change in par value, or (iv) by reason of any other extraordinary or unusual event affecting the outstanding
Company Stock as a class without the Company’s receipt of consideration, or if the value of outstanding shares of Company Stock
is substantially reduced as a result of a spinoff or the Company’s payment of an extraordinary dividend or distribution, the maximum
number of shares of Company Stock available for issuance under the Plan, the maximum number of shares of Company Stock for which any individual
may receive Grants in any year, the kind and number of shares covered by outstanding Grants, the kind and number of shares issued or transferred
and to be issued or transferred under the Plan, and the price per share or the applicable market value of such Grants shall be equitably
adjusted by the Committee, in such manner as the Committee deems appropriate, to reflect any increase or decrease in the number of, or
change in the kind or value of, the issued shares of Company Stock to preclude, to the extent practicable, the enlargement or dilution
of rights and benefits under the Plan and such outstanding Grants; provided, however, that any fractional shares resulting from such adjustment
shall be eliminated. In addition, in the event of a Change of Control of the Company, the provisions of Section 15 of the Plan shall
apply. Any adjustments to outstanding Grants shall be consistent with section 409A or 424 of the Code, to the extent applicable. Any adjustments
determined by the Committee shall be final, binding and conclusive.

 

Section 6—ELIGIBILITY
FOR PARTICIPATION

 

6.1           Eligible
Persons. All Employees, Consultants and Non-Employee Directors shall be eligible to participate in the Plan.

 

6.2           Selection
of Participants. The Committee shall select the Employees, Consultants and Non-Employee Directors to receive Grants and shall
determine the number of shares of Company Stock subject to each Grant.

 

    5 

     

    

 

Section 7—OPTIONS

 

7.1           General
Requirements. The Committee may grant Options to an Employee, Consultant or Non-Employee Directors upon such terms and conditions
as the Committee deems appropriate under this Section 7. The Committee shall determine the number of shares of Company Stock that
will be subject to each Grant of Options to Employees, Consultants and Non-Employee Directors.

 

7.2           Type
of Option, Price and Term.

 

(a)           The
Committee may grant Incentive Stock Options or Nonqualified Stock Options or any combination of the two, all in accordance with the terms
and conditions set forth herein. Incentive Stock Options may be granted only to Employees of the Company or its parents or subsidiaries,
as defined in section 424 of the Code. Nonqualified Stock Options may be granted to Employees, Consultants or Non-Employee Directors.

 

(b)           The
Exercise Price of Company Stock subject to an Option shall be determined by the Committee and may be equal to or greater than the Fair
Market Value of a share of Company Stock on the date the Option is granted. However, an Incentive Stock Option may not be granted to an
Employee who, at the time of grant, owns stock possessing more than 10% of the total combined voting power of all classes of stock of
the Company or any parent or subsidiary, as defined in section 424 of the Code, unless the Exercise Price per share is not less than 110%
of the Fair Market Value of the Company Stock on the date of grant.

 

(c)           The
Committee shall determine the term of each Option, which shall not exceed ten years from the date of grant. However, an Incentive Stock
Option that is granted to an Employee who, at the time of grant, owns stock possessing more than 10% of the total combined voting power
of all classes of stock of the Company or any parent or subsidiary, as defined in section 424 of the Code, may not have a term that exceeds
five years from the date of grant.

 

7.3           Exercisability
of Options.

 

(a)           Options
shall become exercisable in accordance with such terms and conditions as may be determined by the Committee and specified in the Grant
Agreement. The Committee may grant Options that are subject to achievement of performance goals or other conditions. The Committee may
accelerate the exercisability of any or all outstanding Options at any time for any reason.

 

(b)           Options
granted to persons who are non-exempt employees under the Fair Labor Standards Act of 1938, as amended, may not be exercisable for at
least six months after the date of grant (except that such Options may become exercisable, as determined by the Committee, upon the Participant’s
death, Disability or retirement, or upon a Change of Control or other circumstances permitted by applicable regulations).

 

7.4           Termination
of Employment or Service. Except as provided in the Grant Agreement, an Option may only be exercised while the Participant
is employed as an Employee or providing service as a Consultant or Non-Employee Director. The Committee shall determine in the Grant Agreement
under what circumstances and during what time periods a Participant may exercise an Option after termination of employment or service.

 

7.5           Exercise
of Options. A Participant may exercise an Option that has become exercisable, in whole or in part, by delivering a notice of
exercise to the Company. The Participant shall pay the Exercise Price for the Option (i) in cash, (ii) if permitted by the Committee,
by delivering shares of Company Stock owned by the Participant and having a Fair Market Value on the date of exercise equal to the Exercise
Price or by attestation to ownership of shares of Company Stock having an aggregate Fair Market Value on the date of exercise equal to
the Exercise Price, (iii) by payment through a broker in accordance with procedures permitted by Regulation T (or other applicable
regulations) of the Federal Reserve Board, (iv) with approval of the Committee, by surrender of all or any part of the vested shares
of Company Stock for which the Option is exercisable to the Company for an appreciation distribution payable in shares of Company Stock
with a Fair Market Value at the time of the Option surrender equal to the dollar amount by which the then Fair Market Value of the shares
of Company Stock subject to the surrendered portion exceeds the aggregate Exercise Price payable for those shares, or (v) by such
other method as the Committee may approve, to the extent permitted by applicable law. Shares of Company Stock used to exercise an Option
shall have been held by the Participant for the requisite period of time to avoid adverse accounting consequences to the Company with
respect to the Option. Payment for the shares pursuant to the Option, and any required withholding taxes, must be received by the time
specified by the Committee depending on the type of payment being made, but in all cases prior to the issuance of the Company Stock.

 

    6 

     

    

 

7.6           Limits
on Incentive Stock Options. Each Incentive Stock Option shall provide that, if the aggregate Fair Market Value of the stock
on the date of the grant with respect to which Incentive Stock Options are exercisable for the first time by a Participant during any
calendar year, under the Plan or any other stock option plan of the Company or a parent or subsidiary, as defined in section 424 of the
Code, exceeds $100,000, then the Option, as to the excess, shall be treated as a Nonqualified Stock Option. An Incentive Stock Option
shall not be granted to any person who is not an Employee of the Company or a parent or subsidiary, as defined in section 424 of the Code.

 

Section 8—STOCK
UNITS

 

8.1           General
Requirements. The Committee may grant Stock Units to an Employee, Consultant or Non-Employee Director, upon such terms and
conditions as the Committee deems appropriate under this Section 8. Each Stock Unit shall represent the right of the Participant
to receive a share of Company Stock or an amount based on the value of a share of Company Stock. All Stock Units shall be credited to
bookkeeping accounts on the Company’s records for purposes of the Plan.

 

8.2           Terms
of Stock Units. The Committee may grant Stock Units that are payable on terms and conditions determined by the Committee, which
may include payment based on achievement of performance goals. Stock Units may be paid at the end of a specified vesting or performance
period, or payment may be deferred to a date authorized by the Committee. The Committee shall determine the number of Stock Units to be
granted and the requirements applicable to such Stock Units.

 

8.3           Payment
With Respect to Stock Units. Payment with respect to Stock Units shall be made in cash, in Company Stock, or in a combination
of the two, as determined by the Committee. The Grant Agreement shall specify the maximum number of shares that can be issued under the
Stock Units.

 

8.4           Requirement
of Employment or Service. The Committee shall determine in the Grant Agreement under what circumstances a Participant may retain
Stock Units after termination of the Participant’s employment or service, and the circumstances under which Stock Units may be forfeited.

 

8.5           Dividend
Equivalents. The Committee may grant Dividend Equivalents in connection with Stock Units, under such terms and conditions as
the Committee deems appropriate. Dividend Equivalents may be paid to Participants currently or may be deferred. All Dividend Equivalents
that are not paid currently shall be credited to bookkeeping accounts on the Company’s records for purposes of the Plan. Dividend
Equivalents may be accrued as a cash obligation, or may be converted to additional Stock Units for the Participant, and deferred Dividend
Equivalents may accrue interest, all as determined by the Committee. The Committee may provide that Dividend Equivalents shall be payable
based on the achievement of specific performance goals. Dividend Equivalents may be payable in cash or shares of Company Stock or in a
combination of the two, as determined by the Committee.

 

Section 9—STOCK
AWARDS

 

9.1           General
Requirements. The Committee may issue shares of Company Stock to an Employee, Consultant or Non-Employee Director under a Stock
Award, upon such terms and conditions as the Committee deems appropriate under this Section 9. Shares of Company Stock issued pursuant
to Stock Awards may be issued for cash consideration or for no cash consideration, and subject to restrictions or no restrictions, as
determined by the Committee. The Committee may establish conditions under which restrictions on Stock Awards shall lapse over a period
of time or according to such other criteria as the Committee deems appropriate, including restrictions based upon the achievement of specific
performance goals. The Committee shall determine the number of shares of Company Stock to be issued pursuant to a Stock Award.

 

9.2           Requirement
of Employment or Service. The Committee shall determine in the Grant Agreement under what circumstances a Participant may retain
Stock Awards after termination of the Participant’s employment or service, and the circumstances under which Stock Awards may be
forfeited.

 

    7 

     

    

 

9.3           Restrictions
on Transfer. While Stock Awards are subject to restrictions, a Participant may not sell, assign, transfer, pledge or otherwise
dispose of the shares of a Stock Award except upon death as described in Section 14.1. If certificates are issued, each certificate
for a share of a Stock Award shall contain a legend giving appropriate notice of the restrictions in the Grant. The Participant shall
be entitled to have the legend removed when all restrictions on such shares have lapsed. The Company may retain possession of any certificates
for Stock Awards until all restrictions on such shares have lapsed.

 

9.4           Right
to Vote and to Receive Dividends. The Committee shall determine to what extent, and under what conditions, the Participant
shall have the right to vote shares of Stock Awards and to receive any dividends or other distributions paid on such shares during the
restriction period. The Committee may determine that dividends on Stock Awards shall be withheld while the Stock Awards are subject to
restrictions and that the dividends shall be payable only upon the lapse of the restrictions on the Stock Awards, or on such other terms
as the Committee determines. Dividends that are not paid currently shall be credited to bookkeeping accounts on the Company’s records
for purposes of the Plan. Accumulated dividends may accrue interest, as determined by the Committee, and shall be paid in cash, shares
of Company Stock, or in such other form as dividends are paid on Company Stock, as determined by the Committee.

 

Section 10—Stock
Appreciation Rights

 

10.1           General
Requirements. The Committee may grant SARs to an Employee, Consultant or Non-Employee Director separately or in tandem with
an Option. The Committee shall establish the number of shares, the terms and the base amount of the SAR at the time the SAR is granted.
The base amount of each SAR shall be not less than the Fair Market Value of a share of Company Stock as of the date of grant of the SAR.

 

10.2           Tandem
SARs. The Committee may grant tandem SARs either at the time the Option is granted or at any time thereafter while the Option
remains outstanding; provided, however, that, in the case of an Incentive Stock Option, SARs may be granted only at the date of the grant
of the Incentive Stock Option. In the case of tandem SARs, the number of SARs granted to a Participant that shall be exercisable during
a specified period shall not exceed the number of shares of Company Stock that the Participant may purchase upon the exercise of the related
Option during such period. Upon the exercise of an Option, the SARs relating to the Company Stock covered by such Option shall terminate.
Upon the exercise of SARs, the related Option shall terminate to the extent of an equal number of shares of Company Stock.

 

10.3           Exercisability;
Term. A SAR shall become exercisable in accordance with such terms and conditions as may be specified in a Grant Agreement.
The Committee may grant SARs that are subject to achievement of performance goals or other conditions. The Committee may accelerate the
exercisability of any or all outstanding SARs at any time for any reason. The Committee shall determine in the Grant Agreement under what
circumstances and during what periods a Participant may exercise a SAR after termination of employment or service. A tandem SAR shall
be exercisable only while the Option to which it is related is exercisable. The Committee shall determine the term of each SAR, which
shall not exceed ten years from the date of grant.

 

10.4           Grants
to Non-Exempt Employees. SARs granted to persons who are non-exempt employees under the Fair Labor Standards Act of 1938, as
amended, may not be exercisable for at least six months after the date of grant (except that such SARs may become exercisable, as determined
by the Committee, upon the Participant’s death, Disability or retirement, or upon a Change of Control or other circumstances permitted
by applicable regulations).

 

10.5           Exercise
of SARs. When a Participant exercises SARs, the Participant shall receive in settlement of such SARs an amount equal to the
value of the stock appreciation for the number of SARs exercised. The stock appreciation for a SAR is the amount by which the Fair Market
Value of the underlying Company Stock on the date of exercise of the SAR exceeds the base amount of the SAR as specified in the Grant
Agreement.

 

10.6           Form of
Payment. The Committee shall determine whether the stock appreciation for a SAR shall be paid in the form of shares of Company
Stock, cash or a combination of the two. For purposes of calculating the number of shares of Company Stock to be received, shares of Company
Stock shall be valued at their Fair Market Value on the date of exercise of the SAR. If shares of Company Stock are to be received upon
exercise of a SAR, cash shall be delivered in lieu of any fractional share.

 

    8 

     

    

 

Section 11—Other
Stock-Based Awards

 

The Committee may grant other
awards not specified in Sections 7, 8, 9 or 10 above that are based on or measured by Company Stock to Employees, Consultants or Non-Employee
Directors, on such terms and conditions as the Committee deems appropriate. Other Stock-Based Awards may be granted subject to achievement
of performance goals or other conditions and may be payable in Company Stock or cash, or in a combination of the two, as determined by
the Committee in the Grant Agreement.

 

Section 12—DEFERRALS

 

The Committee may permit or
require a Participant to defer receipt of the payment of cash or the delivery of shares that would otherwise be due to the Participant
in connection with any Grant. The Committee shall establish rules and procedures for any such deferrals, consistent with applicable
requirements of section 409A of the Code.

 

Section 13—Withholding
of Taxes

 

13.1           Required
Withholding. All Grants under the Plan may be subject to applicable federal (including FICA), state and local tax withholding
requirements. The Company may require that the Participant or other person receiving or exercising Grants pay to the Company the amount
of any federal, state or local taxes that the Company is required to withhold with respect to such Grants, or the Company may deduct from
other wages paid by the Company the amount of any withholding taxes due with respect to such Grants.

 

13.2           Election
to Withhold Shares. If the Committee so permits, shares of Company Stock may be withheld to satisfy the Company’s tax
withholding obligation with respect to Grants paid in Company Stock at the time such Grants become taxable, up to an amount that does
not exceed the maximum applicable withholding tax rate for federal (including FICA), state, and local tax liabilities.

 

Section 14—Transferability
of Grants

 

14.1           Restrictions
on Transfer. Except as described in Section 14.2 below, only the Participant may exercise rights under a Grant during
the Participant’s lifetime, and a Participant may not transfer those rights except by will or by the laws of descent and distribution.
When a Participant dies, the personal representative or other person entitled to succeed to the rights of the Participant may exercise
such rights. Any such successor must furnish proof satisfactory to the Company of his or her right to receive the Grant under the Participant’s
will or under the applicable laws of descent and distribution.

 

14.2           Transfer
of Nonqualified Stock Options to or for Family Members. Notwithstanding the foregoing, the Committee may provide in a Grant
Agreement that a Participant may transfer Nonqualified Stock Options to family members, or one or more trusts or other entities for the
benefit of or owned by family members, consistent with applicable securities laws, according to such terms as the Committee may determine;
provided that the Participant receives no consideration for the transfer of a Nonqualified Stock Option and the transferred Nonqualified
Stock Option shall continue to be subject to the same terms and conditions as were applicable to the Nonqualified Stock Option immediately
before the transfer.

 

    9 

     

    

 

Section 15—Consequences
of a Change of Control

 

In the event of a Change of
Control, the Committee may take one or more of the following actions with respect to any or all outstanding Grants: the Committee may
(i) cancel or require that Participants surrender their outstanding Options and SARs in exchange for one or more payments by the
Company, in cash or Company Stock as determined by the Committee, in an amount equal to the amount by which the then Fair Market Value
of the shares of Company Stock subject to the Participant’s unexercised vested Options and vested SARs exceeds the Exercise Price
of the Options or the base amount of the SARs, as applicable, (ii) after giving Participants an opportunity to exercise their outstanding
Options and SARs, terminate any or all unexercised Options and SARs at such time as the Committee deems appropriate, or (iii) determine
that outstanding Options and SARs that are not exercised shall be assumed by, or replaced with comparable options or rights by, the surviving
corporation, (or a parent or subsidiary of the surviving corporation), and other outstanding Grants that remain in effect after the Change
of Control shall be converted to similar grants of the surviving corporation (or a parent or subsidiary of the surviving corporation).
Such surrender or termination shall take place as of the date of the Change of Control or such other date as the Committee may specify.
In the event of a Change of Control, the Committee may terminate any underwater Options or SARs without payment of consideration.

 

Section 16—Requirements
for Issuance of Shares

 

No Company Stock shall be
issued in connection with any Grant hereunder unless and until all legal requirements applicable to the issuance of such Company Stock
have been complied with to the satisfaction of the Committee. The Committee shall have the right to condition any Grant made to any Participant
hereunder on such Participant’s undertaking in writing to comply with such restrictions on his or her subsequent disposition of
such shares of Company Stock as the Committee shall deem necessary or advisable, and certificates representing such shares may be legended
to reflect any such restrictions. Certificates representing shares of Company Stock issued under the Plan will be subject to such stop-transfer
orders and other restrictions as may be required by applicable laws, regulations and interpretations, including any requirement that a
legend be placed thereon. No Participant shall have any right as a shareholder with respect to Company Stock covered by a Grant until
shares have been issued to the Participant.

 

Section 17—Amendment
of the Plan

 

17.1           Amendment.
The Board may amend or terminate the Plan at any time; provided, however, that the Board shall not amend the Plan without approval of
the shareholders of the Company if such approval is required in order to comply with the Code or applicable laws, or to comply with applicable
stock exchange requirements. No amendment or termination of this Plan shall, without the consent of the Participant, materially impair
any rights or obligations under any Grant previously made to the Participant under the Plan, unless such right has been reserved in the
Plan or the Grant Agreement, or except as provided in Section 17.2 below. Notwithstanding anything in the Plan to the contrary, the
Board may amend the Plan in such manner as it deems appropriate in the event of a change in applicable law or regulations.

 

17.2           No
Repricing Without Shareholder Approval. Notwithstanding anything in the Plan to the contrary, except as authorized by Section 5.4,
the terms of outstanding awards may not be amended to reduce the Exercise Price of outstanding Options or SARs or cancel outstanding Options
or SARs in exchange for cash, other awards of Options or SARs with an Exercise Price that is less than the Exercise Price of the original
Options or SARs without shareholder approval.

 

Section 18—Miscellaneous

 

18.1           Effective
Date. The Plan shall be effective as of the Effective Date, if approved by the Company’s shareholders on such date.

 

18.2           Grants
in Connection with Corporate Transactions and Otherwise. Nothing contained in this Plan shall be construed to (i) limit
the right of the Committee to make Grants under this Plan in connection with the acquisition, by purchase, lease, merger, consolidation
or otherwise, of the business or assets of any corporation, firm or association, including Grants to employees thereof who become Employees
or Consultants, or for other proper corporate purposes, or (ii) limit the right of the Company to grant stock options or make other
stock-based awards outside of this Plan. Without limiting the foregoing, the Committee may make a Grant to an employee of another corporation
who becomes an Employee or Consultant by reason of a corporate merger, consolidation, acquisition of stock or property, reorganization
or liquidation involving the Company in substitution for a grant made by such corporation. The terms and conditions of the Grants may
vary from the terms and conditions required by the Plan and from those of the substituted stock incentives, as determined by the Committee.

 

    10 

     

    

 

18.3           Compliance
with Law.

 

(a)               The
Plan, the exercise of Options and the obligations of the Company to issue or transfer shares of Company Stock under Grants shall be subject
to all applicable laws and to approvals by any governmental or regulatory agency as may be required. With respect to persons subject to
section 16 of the Exchange Act, it is the intent of the Company that the Plan and all transactions under the Plan comply with all applicable
provisions of Rule 16b-3 or its successors under the Exchange Act. In addition, it is the intent of the Company that Incentive Stock
Options comply with the applicable provisions of section 422 of the Code. To the extent that any legal requirement of section 16 of the
Exchange Act or section 422 as set forth in the Plan ceases to be required under section 16 of the Exchange Act or section 422 of the
Code, that Plan provision shall cease to apply. The Committee may revoke any Grant if it is contrary to law or modify a Grant to bring
it into compliance with any valid and mandatory government regulation. The Committee may also adopt rules regarding the withholding
of taxes on payments to Participants. The Committee may, in its sole discretion, agree to limit its authority under this Section.

 

(b)              The
Plan is intended to comply with the requirements of section 409A of the Code such that Grants hereunder will be exempt therefrom, or if
not so exempt, will comply with that section so as not to impose taxes on Participants prior to the receipt of value hereunder. Each Grant
shall be construed and administered such that the Grant either (A) qualifies for an exemption from the requirements of section 409A
of the Code or (B) satisfies the requirements of section 409A of the Code. If a Grant is subject to section 409A of the Code, (i) distributions
shall only be made in a manner and upon an event permitted under section 409A of the Code, (ii) payments to be made upon a termination
of employment shall only be made upon a “separation from service” under section 409A of the Code, (iii) unless the Grant
specifies otherwise, each installment payment shall be treated as a separate payment for purposes of section 409A of the Code, and (iv) in
no event shall a Participant, directly or indirectly, designate the calendar year in which a distribution is made except in accordance
with section 409A of the Code.

 

(c)              Any
Grant that is subject to section 409A of the Code and that is to be distributed to a key employee (as described below) upon separation
from service shall be administered so that any distribution with respect to such Grant shall be postponed for six months following the
date of the Participant’s separation from service, if required by section 409A of the Code. If a distribution is delayed pursuant
to section 409A of the Code, the distribution shall be paid within 15 days after the end of the six-month period. If the Participant dies
during such six-month period, any postponed amounts shall be paid within 90 days of the Participant’s death. The determination of
key employees, including the number and identity of persons considered key employees and the identification date, shall be made by the
Committee or its delegate each year in accordance with section 416(i) of the Code and the “specified employee” requirements
of section 409A of the Code.

 

(d)               Notwithstanding
anything in the Plan or any Grant Agreement to the contrary, each Participant shall be solely responsible for the tax consequences of
Grants under the Plan, and in no event shall the Company have any responsibility or liability if a Grant does not meet any applicable
requirements of section 409A of the Code. Although the Company intends to administer the Plan to prevent taxation under section 409A or
other section of the Code, the Company does not represent or warrant that the Plan or any Grant complies with any provision of federal,
state, local or other tax law.

 

18.4           Enforceability.
The Plan shall be binding upon and enforceable against the Company and its successors and assigns.

 

18.5           Funding
of the Plan; Limitation on Rights. This Plan shall be unfunded. The Company shall not be required to establish any special
or separate fund or to make any other segregation of assets to assure the payment of any Grants under this Plan. Nothing contained in
the Plan and no action taken pursuant hereto shall create or be construed to create a fiduciary relationship between the Company and any
Participant or any other person. No Participant or any other person shall under any circumstances acquire any property interest in any
specific assets of the Company. To the extent that any person acquires a right to receive payment from the Company hereunder, such right
shall be no greater than the right of any unsecured general creditor of the Company.

 

18.6           Rights
of Participants. Nothing in this Plan shall entitle any Employee, Consultant, Non-Employee Director, or other person to any
claim or right to receive a Grant under this Plan. Neither this Plan nor any action taken hereunder shall be construed as giving any individual
any rights to be retained by or in the employment or service of the Employer.

 

    11 

     

    

 

18.7           No
Fractional Shares. No fractional shares of Company Stock shall be issued or delivered pursuant to the Plan or any Grant. The
Committee shall determine whether cash, other awards or other property shall be issued or paid in lieu of such fractional shares or whether
such fractional shares or any rights thereto shall be forfeited or otherwise eliminated.

 

18.8           Clawback
Rights. All Grants under the Plan will be subject to any compensation, clawback and recoupment policies that may be applicable
to the employees of the Company, as in effect from time to time and as approved by the Board or Committee, whether or not approved before
or after the Effective Date.

 

18.9           Governing
Law. The validity, construction, interpretation and effect of the Plan and Grant Agreements issued under the Plan shall be
governed and construed by and determined in accordance with the laws of the State of Delaware, without giving effect to the conflict of
laws provisions thereof.

 

[Signature Page Follows]

 

    12 

     

    

 

IN
WITNESS WHEREOF, this Plan has been executed as of the Effective Date.

 

	 	QUALITY GOLD HOLDINGS, INC.
	 	 
	 	By:	
	 	 	Michael J. Langhammer, Chief Executive Officer

 

    13

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