Document:

Exhibit 10.5

 

Momentus Inc.

 

2021 EQUITY INCENTIVE
PLAN

 

1. Purposes
of the Plan. The purposes of this Plan are (a) to attract and retain the best available personnel to ensure the Company’s
success and accomplish the Company’s goals; (b) to incentivize Employees, Directors and Independent Contractors with long-term
equity-based compensation to align their interests with the Company’s stockholders; and (c) to promote the success of the Company’s
business.

 

The Plan permits the grant of
Incentive Stock Options, Nonstatutory Stock Options, Restricted Stock, Restricted Stock Units, Stock Appreciation Rights and Stock Bonuses.

 

2. Definitions.
As used herein, the following definitions will apply:

 

(a) “Administrator”
means the Board or any of its Committees as will be administering the Plan, in accordance with Section 4 of the Plan.

 

(b) “Affiliate”
means a Parent, a Subsidiary or any corporation or other entity that, directly or indirectly through one or more intermediaries, controls,
or is controlled by, or is under common control with, the Company.

 

(c) “Applicable
Laws” means all applicable laws, rules, regulations and requirements, including, but not limited to, all applicable U.S.
federal or state laws, rules and regulations, the rules and regulations of any stock exchange or quotation system on which the Common
Stock is listed or quoted, and the applicable laws, rules and regulations of any other country or jurisdiction where Awards are, or will
be, granted under the Plan or Participants reside or provide services to the Company or any Affiliate, as such laws, rules, and regulations
shall be in effect from time to time.

 

(d) “Award”
means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock
Units or Stock Bonuses.

 

(e) “Award
Agreement” means the written or electronic agreement setting forth the terms and provisions applicable to each Award granted
under the Plan. The Award Agreement is subject to the terms and conditions of the Plan.

 

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

 

     

     

    

 

(g) “Cause”
means, with respect to the termination of a Participant’s status as a Service Provider, except as otherwise defined in an Award
Agreement, (i) in the case where there is no employment agreement, consulting agreement, change in control agreement or similar agreement
in effect between the Company or an Affiliate of the Company and the Participant at the time of the grant of the Award (or where there
is such an agreement but it does not define “cause” (or words of like import) or where it only applies upon the occurrence
of a change in control and one has not yet taken place): (A) any material breach by Participant of any material written agreement
between Participant and the Company; (B) any failure by Participant to comply with the Company’s material written policies
or rules as they may be in effect from time to time; (C) neglect or persistent unsatisfactory performance of Participant’s
duties; (D) Participant’s repeated failure to follow reasonable and lawful instructions from the Board or Chief Executive Officer;
(E) Participant’s indictment for, conviction of, or plea of guilty or nolo contendre to, any felony or crime that results in,
or is reasonably expected to result in, a material adverse effect on the business or reputation of the Company; (F) Participant’s
commission of or participation in an act of fraud against the Company; (G) Participant’s commission of or participation in
an act that results in material damage to the Company’s business, property or reputation; or (H) Participant’s unauthorized
use or disclosure of any proprietary information or trade secrets of the Company or any other party to whom the Participant owes an obligation
of nondisclosure as a result of his or her relationship with the Company; or (ii) in the case where there is an employment agreement,
consulting agreement, change in control agreement or similar agreement in effect between the Company or an Affiliate and the Participant
at the time of the grant of the Award that defines “cause” (or words of like import), “cause” as defined under
such agreement; provided, however, that with regard to any agreement under which the definition of “cause” only applies on
occurrence of a change in control, such definition of “cause” shall not apply until a change in control actually takes place
and then only with regard to a termination thereafter. For purposes of clarity, a termination without “Cause” does not include
any termination that occurs solely as a result of Participant’s death or Disability. The determination as to whether a Participant’s
status as a Service Provider for purposes of the Plan has been terminated for Cause shall be made in good faith by the Company and shall
be final and binding on the Participant. The foregoing definition does not in any way limit the Company’s ability (or that of any
Affiliate or any successor thereto, as appropriate) to terminate a Participant’s employment or consulting relationship at any time,
subject to Applicable Laws.

 

(h) “Change
in Control” except as may otherwise be provided in an Award Agreement or other applicable agreement, means the occurrence
of any of the following:

 

(i) The consummation
of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if the Company’s
stockholders immediately prior to such merger, consolidation or reorganization cease to directly or indirectly own immediately after such
merger, consolidation or reorganization at least a majority of the combined voting power of the continuing or surviving entity’s
securities outstanding immediately after such merger, consolidation or reorganization;

 

(ii) The consummation
of the sale, transfer or other disposition of all or substantially all of the Company’s assets (other than (x) to a corporation
or other entity of which at least a majority of its combined voting power is owned directly or indirectly by the Company, (y) to
a corporation or other entity owned directly or indirectly by the shareholders of the Company in substantially the same proportions as
their ownership of the Common Stock of the Company or (z) to a continuing or surviving entity described in Section 2(h)(i) in
connection with a merger, consolidation or reorganization which does not result in a Change in Control under Section 2(h)(i));

 

(iii) A change in the
effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any twelve (12) month
period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment
or election; or

 

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(iv) The consummation
of any transaction as a result of which any Person becomes the “beneficial owner” (as defined in Rule 13d-3 under the
Exchange Act), directly or indirectly, of securities of the Company representing at least fifty percent (50%) of the total voting
power represented by the Company’s then outstanding voting securities. For purposes of this Section 2(h), the term “Person”
shall have the same meaning as when used in Sections 13(d) and 14(d) of the Exchange Act but shall exclude:

 

(1) a trustee or other
fiduciary holding securities under an employee benefit plan of the Company or an Affiliate;

 

(2) a corporation or other
entity owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the
Common Stock of the Company;

 

(3) the Company; and

 

(4) a corporation or other
entity of which at least a majority of its combined voting power is owned directly or indirectly by the Company.

 

A transaction shall not constitute
a Change in Control if its sole purpose is to change the state of the Company’s incorporation or to create a holding company that
will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transactions.
In addition, if any Person (as defined above) is considered to be in effective control of the Company, the acquisition of additional control
of the Company by the same Person will not be considered to cause a Change in Control. If required for compliance with Section 409A
of the Code, in no event will a Change in Control be deemed to have occurred if such transaction is not also a “change in the ownership
or effective control of” the Company or “a change in the ownership of a substantial portion of the assets of” the Company
as determined under Treasury Regulation Section 1.409A-3(i)(5) (without regard to any alternative definition thereunder).

 

(i) “Code”
means the Internal Revenue Code of 1986, as amended. Reference to a specific section of the Code or regulation thereunder shall include
such section or regulation, any valid regulation promulgated under such section, and any comparable provision of any future legislation
or regulation amending, supplementing or superseding such section or regulation.

 

(j) “Committee”
means a committee of Directors or of other individuals satisfying Applicable Laws appointed by the Board in accordance with Section 4
hereof.

 

(k) “Common
Stock” means the Class A common stock of the Company.

 

(l) “Company”
means Momentus Inc., a Delaware corporation, or any successor thereto.

 

(m) “Determination
Date” means any time when the achievement of the Performance Goals associated with the applicable Performance Period remains
substantially uncertain; provided, however, that without limiting the foregoing, that if the Determination Date occurs on or before the
date on which 25% of the Performance Period has elapsed, the achievement of such Performance Goals shall be deemed to be substantially
uncertain.

 

(n) “Director”
means a member of the Board.

 

(o) “Disability”
means total and permanent disability as defined in Section 22(e)(3) of the Code in the case of Incentive Stock Options, and for all
other Awards, means as determined by the Social Security Administration or the long-term disability plan maintained by the Company; provided
however, that if the Participant resides outside of the United States, “Disability” shall have such meaning as is required
by Applicable Laws.

 

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(p) “Effective
Date” means August 12, 2021.

 

(q) “Employee”
means any person, including Officers and Directors, employed by the Company or any Affiliate of the Company. Neither service as a Director
nor payment of a director’s fee by the Company will be sufficient to constitute “employment” by the Company.

 

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

 

(s) “Exchange
Program” means a program under which outstanding Awards are amended to provide for a lower exercise price or surrendered
or cancelled in exchange for (i) Awards with a lower exercise price, (ii) a different type of Award or awards under a different
equity incentive plan, (iii) cash, or (iv) a combination of (i), (ii) and/or (iii). Notwithstanding the preceding, the
term Exchange Program does not include (i) any action described in Section 15 or any action taken in connection with a Change
in Control transaction nor (ii) any transfer or other disposition permitted under Section 14. For the purpose of clarity, each
of the actions described in the prior sentence, none of which constitute an Exchange Program, may be undertaken (or authorized) by the
Administrator in its sole discretion without approval by the Company’s stockholders.

 

(t) “Fair Market
Value” means, as of any date, the value of Common Stock determined as follows:

 

(i) If the Common Stock
is listed on any established stock exchange or a national market system, its Fair Market Value will be the closing sales price for such
stock (or the closing bid, if no sales were reported) as quoted on such exchange or system on the day of determination, as reported in
such source as the Administrator deems reliable;

 

(ii) If the Common Stock
is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Share will be the
mean between the high bid and low asked prices for the Common Stock on the day of determination, as reported in such source as the Administrator
deems reliable; or

 

(iii) In the absence
of an established market for the Common Stock, the Fair Market Value will be determined in good faith by the Administrator in compliance
with Applicable Laws and regulations and in a manner that complies with Section 409A of the Code.

 

(u) “Fiscal
Year” means the fiscal year of the Company.

 

(v) “Incentive
Stock Option” means an Option that by its terms qualifies and is intended to qualify as an incentive stock option within
the meaning of Section 422 of the Code and the regulations promulgated thereunder.

 

(w) “Independent
Contractor” means any person, including an advisor, consultant or agent, engaged by the Company or an Affiliate to render
services to such entity or who renders, or has rendered, services to the Company, or any Affiliate and is compensated for such services.

 

(x) “Inside
Director” means a Director who is an Employee.

 

(y) “Insider”
means an officer or director of the Company or any other person whose transactions in Common Stock are subject to Section 16 of the
Exchange Act.

 

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(z) “Nonstatutory
Stock Option” means an Option that by its terms does not qualify or is not intended to qualify as an Incentive Stock Option.

 

(aa) “Officer”
means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations
promulgated thereunder.

 

(bb) “Option”
means a stock option granted pursuant to the Plan.

 

(cc) “Outside
Director” means a Director who is not an Employee.

 

(dd) “Parent”
means any corporation (other than the Company) in an unbroken chain of corporations ending with the Company if each of the corporations
other than the Company owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock
in one of the other corporations in such chain. A corporation that attains the status of a Parent on a date after the adoption of the
Plan shall be considered a Parent commencing as of such date.

 

(ee) “Participant”
means the holder of an outstanding Award.

 

(ff) “Performance
Goal” means a formula or standard determined by the Administrator with respect to each Performance Period based on one or
more of the following criteria and any adjustment(s) thereto established by the Administrator: (1) sales or non-sales revenue; (2) return
on revenues; (3) operating income; (4) income or earnings including operating income; (5) income or earnings before or
after taxes, interest, depreciation and/or amortization; (6) income or earnings from continuing operations; (7) net income;
(8) pre-tax income or after-tax income; (9) net income excluding amortization of intangible assets, depreciation and impairment
of goodwill and intangible assets and/or excluding charges attributable to the adoption of new accounting pronouncements; (10) raising
of financing or fundraising; (11) project financing; (12) revenue backlog; (13) gross margin; (14) operating margin
or profit margin; (15) capital expenditures, cost targets, reductions and savings and expense management; (16) return on assets
(gross or net), return on investment, return on capital, or return on stockholder equity; (17) cash flow, free cash flow, cash flow
return on investment (discounted or otherwise), net cash provided by operations, or cash flow in excess of cost of capital; (18) performance
warranty and/or guarantee claims; (19) stock price or total stockholder return; (20) earnings or book value per share (basic
or diluted); (21) economic value created; (22) pre-tax profit or after-tax profit; (23) strategic business criteria, consisting
of one or more objectives based on meeting specified market penetration or market share, completion of strategic agreements such as licenses,
joint ventures, acquisitions, and the like, geographic business expansion, objective customer satisfaction or information technology goals,
intellectual property asset metrics; (24) objective goals relating to divestitures, joint ventures, mergers, acquisitions and similar
transactions; (25) objective goals relating to staff management, results from staff attitude and/or opinion surveys, staff satisfaction
scores, staff safety, staff accident and/or injury rates, compliance, headcount, performance management, completion of critical staff
training initiatives; (26) objective goals relating to projects, including project completion, timing and/or achievement of milestones,
project budget, technical progress against work plans; and (27) enterprise resource planning. Awards issued to Participants may take
into account other criteria (including subjective criteria). Performance Goals may differ from Participant to Participant, Performance
Period to Performance Period and from Award to Award. Any criteria used may be measured, as applicable, (i) in absolute terms, (ii) in
relative terms (including, but not limited to, any increase (or decrease) over the passage of time and/or any measurement against other
companies or financial or business or stock index metrics particular to the Company), (iii) on a per share and/or share per capita
basis, (iv) against the performance of the Company as a whole or against any Affiliate(s), or a particular segment(s), a business
unit(s) or a product(s) of the Company or individual project company, (v) on a pre-tax or after-tax basis, (vi) on a GAAP or
non-GAAP basis, and/or (vii) using an actual foreign exchange rate or on a foreign exchange neutral basis.

 

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(gg) “Performance
Period” means the time period during which the Performance Goals or other vesting provisions must be satisfied for Awards.
Performance Periods may be of varying and overlapping duration, at the sole discretion of the Administrator.

 

(hh) “Period
of Restriction” means the period during which the transfer of Shares of Restricted Stock is subject to restrictions and
therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of time, the achievement
of target levels of performance, or the occurrence of other events as determined by the Administrator.

 

(ii) “Plan”
means this 2021 Equity Incentive Plan.

 

(jj)  “Restricted
Stock” means Shares issued pursuant to a Restricted Stock award under Section 7 of the Plan.

 

(kk) “Restricted
Stock Unit” means a bookkeeping entry representing an amount equal to the Fair Market Value of one Share, granted pursuant
to Section 8. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company.

 

(ll) “Rule 16b-3”
means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect when discretion is being exercised with respect
to the Plan.

 

(mm) “Section 16(b)”
means Section 16(b) of the Exchange Act.

 

(nn) “Service
Provider” means an Employee, Director or Independent Contractor.

 

(oo) “Share”
means a share of the Common Stock, as adjusted in accordance with Section 15 of the Plan.

 

(pp) “Stock
Appreciation Right” means an Award, granted alone or in connection with an Option, that pursuant to Section 9 is designated
as a Stock Appreciation Right.

 

(qq) “Stock
Bonus Award” means an Award granted pursuant to Section 10 of the Plan.

 

(rr) “Subsidiary”
means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company if each of the corporations
other than the last corporation in the unbroken chain owns stock possessing fifty percent (50%) or more of the total combined voting
power of all classes of stock in one of the other corporations in such chain. A corporation that attains the status of a Subsidiary on
a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date.

 

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(ss) “Tax-Related
Items” means income tax, social insurance or other social contributions, national insurance, social security, payroll tax,
fringe benefits tax, payment on account or other tax-related items.

 

3. Stock Subject to the Plan.

 

(a) Stock Subject to the Plan.
Subject to the provisions of Sections 3(b) and 15 of the Plan, the maximum aggregate number of Shares that may be issued under the
Plan is will not exceed the sum of (i) 5,982,922 new Shares, plus (ii) the number of Shares subject to awards or issued under
the Company’s Amended and Restated 2018 Stock Plan and Space Apprentices Enterprise Inc. 2018 Stock Plan (the “Existing
Plans”) that otherwise would have been returned to the Existing Plans on or after the Effective Date on account of the expiration,
cancellation, forfeiture or repurchase of awards granted thereunder. The Shares may be authorized, but unissued, or reacquired Common
Stock. Notwithstanding the foregoing, subject to the provisions of Section 15 below, in no event shall the maximum aggregate number
of Shares that may be issued under the Plan pursuant to Incentive Stock Options exceed the number set forth in this Section 3(a)
plus, to the extent allowable under Section 422 of the Code and the regulations promulgated thereunder, any Shares that again become
available for issuance pursuant to Sections 3(b) and 3(c).

 

(b) Automatic Share
Reserve Increase. The number of Shares available for issuance under the Plan will be increased on the first day of each Fiscal Year
beginning with the 2022 Fiscal Year and ending on (and including) the first day of the 2031 Fiscal Year, in each case, in an amount
equal to the lessor of (i)  three percent (3%) of the outstanding Shares on the last day of the immediately preceding Fiscal Year
and (iii) such number of Shares determined by the Board.

 

(c) Lapsed Awards.
To the extent an Award should expire or be forfeited or become unexercisable for any reason without having been exercised in full, or
is surrendered pursuant to an Exchange Program, the unissued Shares that were subject thereto shall, unless the Plan shall have been terminated,
continue to be available under the Plan for issuance pursuant to future Awards.  In addition, any Shares which are retained by the
Company upon exercise of an Award in order to satisfy the exercise or purchase price for such Award or any withholding taxes due with
respect to such Award shall be treated as not issued and shall continue to be available under the Plan for issuance pursuant to future
Awards.  Shares issued under the Plan and later forfeited to the Company due to the failure to vest or repurchased by the Company
at the original purchase price paid to the Company for the Shares (including, without limitation, upon forfeiture to or repurchase by
the Company in connection with a Participant ceasing to be a Service Provider) shall again be available for future grant under the Plan.
To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment will not result in reducing the number
of Shares available for issuance under the Plan.

 

(d) Assumption or Substitution
of Awards by the Company. The Administrator, from time to time, may determine to substitute or assume outstanding awards granted by
another company, whether in connection with an acquisition of such other company or otherwise, by either: (a) assuming such award
under this Plan or (b) granting an Award under this Plan in substitution of such other company’s award. Such assumption or
substitution will be permissible if the holder of the substituted or assumed award would have been eligible to be granted an Award under
this Plan if the other company had applied the rules of this Plan to such grant. In the event the Administrator elects to assume an award
granted by another company, subject to the requirements of Section 409A of the Code, the purchase price or the exercise price, as
the case may be, and the number and nature of Shares issuable upon exercise or settlement of any such Award will be adjusted appropriately.
In the event the Administrator elects to grant a new Option in substitution rather than assuming an existing option, such new Option may
be granted with a similarly adjusted exercise price. Any awards that are assumed or substituted under this Plan shall not reduce the number
of Shares authorized for grant under the Plan or authorized for grant to a Participant in any fiscal year.

 

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4. Administration
of the Plan.

 

(a) Procedure.

 

(i) Multiple Administrative
Bodies. Different Committees with respect to different groups of Service Providers may administer the Plan.

 

(ii) Rule 16b-3.
To the extent desirable to qualify transactions hereunder as exempt under Rule 16b-3, the transactions contemplated hereunder will
be structured to satisfy the requirements for exemption under Rule 16b-3.

 

(iii) Other Administration.
Other than as provided above, the Plan will be administered by (A) the Board or (B) a Committee, which committee will be constituted
to satisfy Applicable Laws.

 

(b) Powers of the Administrator.
Subject to the provisions of the Plan, the Administrator will have the authority, in its discretion:

 

(i) to determine the
Fair Market Value in accordance with Section 2(t)(iii);

 

(ii) to select the Service
Providers to whom Awards may be granted hereunder;

 

(iii) to determine the
number of Shares to be covered by each Award granted hereunder;

 

(iv) to approve forms
of Award Agreements for use under the Plan;

 

(v) to determine the
terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder; such terms and conditions include,
but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based on Performance Goals),
any vesting acceleration or waiver of forfeiture restrictions, and any restriction or limitation regarding any Award or the Shares relating
thereto, based in each case on such factors as the Administrator will determine;

 

(vi) to institute and
determine the terms and conditions of an Exchange Program; provided however, that the Administrator shall not implement an Exchange Program
without the approval of the holders of a majority of the Shares that are present in person or by proxy and entitled to vote at any annual
or special meeting of the Company’s stockholders;

 

(vii) to construe and
interpret the terms of the Plan and Awards granted pursuant to the Plan;

 

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(viii) correct any defect,
supply any omission or reconcile any inconsistency in this Plan, any Award or any Award Agreement;

 

(ix) to prescribe, amend
and rescind rules and regulations relating to the Plan, including rules and regulations established for the purpose of satisfying non-U.S. Applicable
Laws, for qualifying for favorable tax treatment under applicable non-U.S. Applicable Laws or facilitating compliance with non-U.S. Applicable
Laws (sub-plans may be created for any of these purposes);

 

(x) to modify or amend
each Award (subject to Section 22 of the Plan), including but not limited to the discretionary authority to extend the post-termination
exercisability period of Awards, to accelerate vesting and to extend the maximum term of an Option (subject to Section 6(b) of the
Plan regarding Incentive Stock Options);

 

(xi) adjust Performance
Goals to take into account changes in Applicable Laws or in accounting or tax rules, or such other extraordinary, unforeseeable, nonrecurring
or infrequently occurring events or circumstances as the Administrator deems necessary or appropriate to avoid windfalls or hardships;

 

(xii) to allow Participants
to satisfy tax withholding obligations in such manner as prescribed in Section 16 of the Plan;

 

(xiii) to authorize any
person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted by the Administrator;

 

(xiv) to allow a Participant
to defer the receipt of the payment of cash or the delivery of Shares that would otherwise be due to such Participant under an Award;
and

 

(xv) to make all other
determinations deemed necessary or advisable for administering the Plan.

 

(c) Effect of Administrator’s
Decision. The Administrator’s decisions, determinations and interpretations will be final and binding on all Participants and
any other holders of Awards. Any dispute regarding the interpretation of the Plan or any Award Agreement shall be submitted by the Participant
to the Company for review. Any Officer of the Company, including but not limited to Insiders, shall have the authority to review and resolve
disputes with respect to Awards held by Participants who are not Insiders, and such resolution shall be final and binding on the Company
and the Participant. Only the Committee shall have the authority to review and resolve disputes with respect to Awards held by Participants
who are Insiders, and such resolution shall be final and binding on the Company and the Participant.

 

(d) Delegation.
To the extent permitted by Applicable Laws, the Board or Committee, in its sole discretion and on such terms and conditions as it may
provide, may delegate all or any part of its authority and powers under the Plan to one or more Directors or officers of the Company.
To the extent permitted by Applicable Laws, the Board or Committee may delegate to one or more officers of the Company who may be (but
are not required to be) Insiders (“Officers”), the authority to do any of the following (i) designate Employees
who are not Insiders to be recipients of Awards, (ii) determine the number of Shares to be subject to such Awards granted to such
designated Employees, and (iii) take any and all actions on behalf of the Board or Committee other than any actions that affect the
amount or form of compensation of Insiders or have material tax, accounting, financial, human resource or legal consequences to the Company
or its Affiliates; provided, however, that the Board or Committee resolutions regarding any delegation with respect to (i) and (ii) will
specify the total number of Shares that may be subject to the Awards granted by such Officer and that such Officer may not grant an Award
to himself or herself. Any Awards will be granted on the form of Award Agreement most recently approved for use by the Board or Committee,
unless otherwise provided in the resolutions approving the delegation authority.

 

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(e) Administration of
Awards Subject to Performance Goals. The Administrator will, in its sole discretion, determine the Performance Goals, if any, applicable
to any Award (including any adjustment(s) thereto that will be applied in determining the achievement of such Performance Goals) on or
prior to the Determination Date. The Performance Goals may differ from Participant to Participant and from Award to Award. The Administrator
shall determine and approve the extent to which such Performance Goals have been timely achieved and the extent to which the Shares subject
to such Award have thereby been earned.

 

(f) Section 16
of the Exchange Act. Awards granted to Participants who are Insiders must be approved by two or more “non-employee directors”
of the Board (as defined in the regulations promulgated under Section 16 of the Exchange Act).

 

5. Award
Eligibility. Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units and Stock Bonuses may
be granted to Service Providers. Incentive Stock Options may be granted only to Employees.

 

6. Stock
Options.

 

(a) Limitations.
Each Option will be designated in the Award Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. However, notwithstanding
such designation, to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive Stock Options are exercisable
for the first time by the Participant during any calendar year (under all plans of the Company and any Affiliate) exceeds one hundred
thousand dollars ($100,000), such Options will be treated as Nonstatutory Stock Options. For purposes of this Section 6(a), Incentive
Stock Options will be taken into account in the order in which they were granted. The Fair Market Value of the Shares will be determined
as of the date the Option with respect to such Shares is granted. With respect to the Administrator’s authority in Section 4(b)(x),
if, at the time of any such extension, the exercise price per Share of the Option is less than the Fair Market Value of a Share, the extension
shall, unless otherwise determined by the Administrator, be limited to the earlier of (1) the maximum term of the Option as set by
its original terms, or (2) ten (10) years from the grant date. Unless otherwise determined by the Administrator, any extension
of the term of an Option pursuant to this Section 6(a) shall comply with Section 409A of the Code to the extent necessary to
avoid taxation thereunder.

 

(b) Term of Option.
The term of each Option will be stated in the Award Agreement. In the case of an Incentive Stock Option, the term will be ten (10) years
from the date of grant or such shorter term as may be provided in the Award Agreement. Moreover, in the case of an Incentive Stock Option
granted to a Participant who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%)
of the total combined voting power of all classes of stock of the Company or any Affiliate, the term of the Incentive Stock Option will
be five (5) years from the date of grant or such shorter term as may be provided in the Award Agreement.

 

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(c) Option Exercise
Price and Consideration.

 

(i) Exercise Price.
The per share exercise price for the Shares to be issued pursuant to exercise of an Option will be determined by the Administrator, subject
to the following:

 

(1) In the case of an Incentive
Stock Option

 

(A) granted to an Employee
who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the voting power of
all classes of stock of the Company or any Affiliate, the per Share exercise price will be no less than one hundred ten percent (110%)
of the Fair Market Value per Share on the date of grant.

 

(B) granted to any Employee
other than an Employee described in paragraph (A) immediately above, the per Share exercise price will be no less than one hundred
percent (100%) of the Fair Market Value per Share on the date of grant.

 

(2) In the case of a Nonstatutory
Stock Option, the per Share exercise price will be no less than one hundred percent (100%) of the Fair Market Value per Share on
the date of grant.

 

(3) Notwithstanding the
foregoing, Options may be granted with a per Share exercise price of less than one hundred percent (100%) of the Fair Market Value
per Share on the date of grant pursuant to a transaction described in, and in a manner consistent with, Section 424(a) of the Code.

 

(ii) Waiting Period
and Exercise Dates. At the time an Option is granted, the Administrator will fix the period within which the Option may be exercised
and will determine any conditions that must be satisfied before the Option may be exercised. An Option may become exercisable upon completion
of a specified period of service with the Company or an Affiliate and/or based on the achievement of Performance Goals during a Performance
Period as set out in advance in the Participant’s Award Agreement. If an Option is exercisable based on the satisfaction of Performance
Goals, then the Administrator will: (x) determine the nature, length and starting date of any Performance Period for such Option;
(y) select the Performance Goals to be used to measure the performance; and (z) determine what additional vesting conditions,
if any, should apply.

 

(iii) Form of Consideration.
The Administrator will determine the acceptable form of consideration for exercising an Option, including the method of payment. In the
case of an Incentive Stock Option, the Administrator will determine the acceptable form of consideration at the time of grant. Such consideration
for both types of Options may consist entirely of: (1) cash; (2) check; (3) promissory note, to the extent permitted by
Applicable Laws, (4) other Shares, provided that such Shares have a Fair Market Value on the date of surrender equal to the aggregate
exercise price of the Shares as to which such Option will be exercised and provided that accepting such Shares will not result in any
adverse accounting consequences to the Company, as the Administrator determines in its sole discretion; (5) consideration received
by the Company under a broker-assisted (or other) cashless exercise program (whether through a broker or otherwise) implemented by the
Company in connection with the Plan; (6) by net exercise; (7) such other consideration and method of payment for the issuance
of Shares to the extent permitted by Applicable Laws; or (8) any combination of the foregoing methods of payment.

 

    - 11 -

     

    

 

(d) Exercise of Option.

 

(i) Procedure for
Exercise; Rights as a Stockholder. Any Option granted hereunder will be exercisable according to the terms of the Plan and at such
times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option may not be exercised
for a fraction of a Share.

 

An Option will be deemed exercised
when the Company receives: (i) a notice of exercise (in such form as the Administrator may specify from time to time) from the person
entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the Option is exercised (together with
full payment of any applicable taxes or other amounts required to be withheld or deducted with respect to the Option). Full payment may
consist of any consideration and method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan.
Shares issued upon exercise of an Option will be issued in the name of the Participant or, if requested by the Participant, in the name
of the Participant and his or her spouse. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company
or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder will
exist with respect to the Shares subject to an Option, notwithstanding the exercise of the Option. The Company will issue (or cause to
be issued) such Shares promptly after the Option is exercised. No adjustment will be made for a dividend or other right for which the
record date is prior to the date the Shares are issued, except as provided in Section 15 of the Plan.

 

(ii) Termination of
Relationship as a Service Provider. If a Participant ceases to be a Service Provider, other than upon the Participant’s termination
as the result of the Participant’s death, Disability or Cause, the Participant may exercise his or her Option within such period
of time as is specified in the Award Agreement to the extent that the Option is vested on the date of termination (but in no event later
than the expiration of the term of such Option as set forth in the Award Agreement). In the absence of a specified time in the Award Agreement,
the Option will remain exercisable for three (3) months following the Participant’s termination. Unless otherwise provided
by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by
the unvested portion of the Option will revert to the Plan. If after termination the Participant does not exercise his or her Option within
the time specified by the Administrator, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

 

(iii) Disability of
Participant. If a Participant ceases to be a Service Provider as a result of the Participant’s Disability, the Participant may
exercise his or her Option within such period of time as is specified in the Award Agreement to the extent the Option is vested on the
date of termination (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement). In the
absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12) months following the Participant’s
termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or
her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the Participant
does not exercise his or her Option within the time specified herein, the Option will terminate, and the Shares covered by such Option
will revert to the Plan.

 

    - 12 -

     

    

 

(iv) Death of Participant.
If a Participant dies while a Service Provider, the Option may be exercised following the Participant’s death within such period
of time as is specified in the Award Agreement to the extent that the Option is vested on the date of death (but in no event may the Option
be exercised later than the expiration of the term of such Option as set forth in the Award Agreement), by the Participant’s designated
beneficiary, provided such beneficiary has been designated prior to Participant’s death in a form acceptable to the Administrator.
If no such beneficiary has been designated by the Participant, then such Option may be exercised by the personal representative of the
Participant’s estate or by the person(s) to whom the Option is transferred pursuant to the Participant’s will or in accordance
with the laws of descent and distribution. In the absence of a specified time in the Award Agreement, the Option will remain exercisable
for twelve (12) months following Participant’s death. Unless otherwise provided by the Administrator, if on the date of termination
the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to
the Plan. If the Option is not so exercised within the time specified herein, the Option will terminate, and the Shares covered by such
Option will revert to the Plan.

 

(v) Termination for
Cause. If a Participant ceases to be a Service Provider as a result of being terminated for Cause, any outstanding Option (including
any vested portion thereof) held by such Participant shall immediately terminate in its entirety upon the Participant being first notified
of his or her termination for Cause and the Participant will be prohibited from exercising his or her Option from and after the date of
such termination. All the Participant’s rights under any Option, including the right to exercise the Option, may be suspended pending
an investigation of whether Participant will be terminated for Cause.

 

7. Restricted
Stock.

 

(a) Grant of Restricted
Stock. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time, may grant Shares of
Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion, will determine.

 

(b) Restricted Stock
Agreement. Each Award of Restricted Stock will be evidenced by an Award Agreement that will specify the Period of Restriction, the
number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will determine. Unless the
Administrator determines otherwise, the Company as escrow agent will hold Shares of Restricted Stock until the restrictions on such Shares
have lapsed. These restrictions may lapse upon the completion of a specified period of service with the Company or an Affiliate and/or
based on the achievement of Performance Goals during a Performance Period as set out in advance in the Participant’s Award Agreement.
If the unvested Shares of Restricted Stock are being earned upon the satisfaction of Performance Goals, then the Administrator will: (x) determine
the nature, length and starting date of any Performance Period for each unvested Share; (y) select the Performance Goals to be used
to measure the performance; and (z) determine what additional vesting conditions, if any, should apply.

 

(c) Transferability.
Except as provided in this Section 7 or the Award Agreement, Shares of Restricted Stock may not be sold, transferred, pledged, assigned,
or otherwise alienated or hypothecated until the end of the applicable Period of Restriction.

 

(d) Other Restrictions.
The Administrator, in its sole discretion, may impose such other restrictions on Shares of Restricted Stock as it may deem advisable or
appropriate.

 

(e) Removal of Restrictions.
Except as otherwise provided in this Section 7, Shares of Restricted Stock covered by each Restricted Stock grant made under the
Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction or at such other time as the
Administrator may determine. The Administrator, in its discretion, may accelerate the time at which any restrictions will lapse or be
removed.

 

    - 13 -

     

    

 

(f) Voting Rights.
During the Period of Restriction, Service Providers holding Shares of Restricted Stock granted hereunder may exercise full voting rights
with respect to those Shares, unless the Administrator determines otherwise.

 

(g) Dividends and Other
Distributions. During the Period of Restriction, Service Providers holding Shares of Restricted Stock will be entitled to receive
all dividends and other distributions paid with respect to such Shares, unless the Administrator provides otherwise. If any such dividends
or distributions are paid in Shares, the Shares will be subject to the same restrictions, including, without limitation, restrictions
on transferability and forfeitability, as the Shares of Restricted Stock with respect to which they were paid. During the Period of Restriction,
such dividends or other distributions shall be subject to the same restrictions and risk of forfeiture as the shares of Restricted Stock
with respect to which the dividends accrue and shall not be paid or distributed unless and until such related Shares have vested and been
earned.

 

(h) Return of Restricted
Stock to Company. On the date set forth in the Award Agreement, the Restricted Stock for which restrictions have not lapsed will be
cancelled and returned as unissued Shares to the Company and again will become available for grant under the Plan.

 

8. Restricted
Stock Units.

 

(a) Grant. Restricted
Stock Units may be granted at any time and from time to time as determined by the Administrator. After the Administrator determines that
it will grant Restricted Stock Units under the Plan, it will advise the Participant in an Award Agreement of the terms, conditions, and
restrictions (if any) related to the grant, including the number of Restricted Stock Units.

 

(b) Vesting Criteria
and Other Terms. The Administrator will set vesting criteria in its discretion, which, depending on the extent to which the criteria
are met, will determine the number of Restricted Stock Units that will be paid out to the Participant. A Restricted Stock Unit Award may
vest upon completion of a specified period of service with the Company or an Affiliate and/or based on the achievement of Performance
Goals during a Performance Period as set out in advance in the Participant’s Award Agreement. If Restricted Stock Units vest based
upon satisfaction of Performance Goals, then the Administrator will: (x) determine the nature, length and starting date of any Performance
Period for the Restricted Stock Units; (y) select the Performance Goals to be used to measure the performance; and (z) determine
what additional vesting conditions, if any, should apply.

 

(c) Earning Restricted
Stock Units. Upon meeting the applicable vesting criteria, the Participant will be entitled to receive a payout as determined by the
Administrator. Notwithstanding the foregoing, at any time after the grant of Restricted Stock Units, the Administrator, in its sole discretion,
may reduce or waive any vesting criteria that must be met to receive a payout.

 

(d) Dividend Equivalents.
The Administrator may, in its sole discretion, award dividend equivalents in connection with the grant of Restricted Stock Units that
may be settled in cash, in Shares of equivalent value, or in some combination thereof. Absent a contrary provision in an Award Agreement,
such dividend equivalents shall be subject to the same restrictions and risk of forfeiture as the Restricted Stock Units with respect
to which the dividends accrue and shall not be paid or settled unless and until the related Restricted Stock Units have vested and been
earned.

 

    - 14 -

     

    

 

(e) Form and Timing
of Payment. Payment of earned Restricted Stock Units will be made upon the date(s) determined by the Administrator and set forth in
the Award Agreement. The Administrator, in its sole discretion, may only settle earned Restricted Stock Units in cash, Shares, or a combination
of both.

 

(f) Cancellation.
On the date set forth in the Award Agreement, all Shares underlying any unvested, unlapsed unearned Restricted Stock Units will be forfeited
to the Company for future issuance.

 

9. Stock
Appreciation Rights.

 

(a) Grant of Stock Appreciation
Rights. Subject to the terms and conditions of the Plan, a Stock Appreciation Right may be granted to Service Providers at any time
and from time to time as will be determined by the Administrator, in its sole discretion.

 

(b) Number of Shares.
The Administrator will have complete discretion to determine the number of Stock Appreciation Rights granted to any Service Provider.

 

(c) Exercise Price and
Other Terms. The per share exercise price for the Shares to be issued pursuant to exercise of a Stock Appreciation Right will be determined
by the Administrator and will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant.
Otherwise, the Administrator, subject to the provisions of the Plan, will have complete discretion to determine the terms and conditions
of Stock Appreciation Rights granted under the Plan.

 

(d) Stock Appreciation
Right Agreement. Each Stock Appreciation Right grant will be evidenced by an Award Agreement that will specify the exercise price,
the term of the Stock Appreciation Right, the conditions of exercise, and such other terms and conditions as the Administrator, in its
sole discretion, will determine. A Stock Appreciation Right may become exercisable upon completion of a specified period of service with
the Company or an Affiliate and/or based on the achievement of Performance Goals during a Performance Period as set out in advance in
the Participant’s Award Agreement. If a Stock Appreciation Right is exercisable based on the satisfaction of Performance Goals,
then the Administrator will: (x) determine the nature, length and starting date of any Performance Period for such Stock Appreciation
Right; (y) select the Performance Goals to be used to measure the performance; and (z) determine what additional vesting conditions,
if any, should apply.

 

(e) Expiration of Stock
Appreciation Rights. A Stock Appreciation Right granted under the Plan will expire upon the date determined by the Administrator,
in its sole discretion, and set forth in the Award Agreement. Notwithstanding the foregoing, the rules of Section 6(b) relating to
the maximum term and Section 6(d) relating to exercise also will apply to Stock Appreciation Rights.

 

(f) Payment of Stock
Appreciation Right Amount. Upon exercise of a Stock Appreciation Right, a Participant will be entitled to receive payment from the
Company in an amount determined by multiplying:

 

(i) The difference between
the Fair Market Value of a Share on the date of exercise over the exercise price; times

 

    - 15 -

     

    

 

(ii) The number of Shares
with respect to which the Stock Appreciation Right is exercised.

 

At the discretion of the Administrator,
the payment upon Stock Appreciation Right exercise may be in cash, in Shares of equivalent value, or in some combination thereof.

 

10. Stock
Bonus Awards.

 

(a) Awards of Stock
Bonuses. A Stock Bonus Award is an award of Shares to an eligible person without a purchase price that is not subject to any restrictions.
All Stock Bonus Awards may but are not required to be made pursuant to an Award Agreement.

 

(b) Terms of Stock Bonus
Awards. The Administrator will determine the number of Shares to be awarded to the Participant under a Stock Bonus Award.

 

(c) Form of Payment
to Participant. Payment may be made in the form of cash, whole Shares, or a combination thereof, based on the Fair Market Value of
the Shares subject to the Stock Bonus Award on the date of payment, as determined in the sole discretion of the Administrator.

 

11. Outside
Director Limitations. Stock awards granted during a single fiscal year under the Plan or otherwise, taken together with any cash fees
paid during such fiscal year for services on the Board, shall not exceed (i) $1,000,000 in total value for any Outside Director serving
as the lead director of the Board or chair of the Board (including with respect to the first year of service) and (ii) $500,000 in total
value for any other Outside Director, except with respect to the first year of service in which case any stock awards granted and cash
fees paid will not exceed $1,000,000 in total value (calculating the value of any such stock awards, in each case, based on the grant
date fair value of such stock awards for financial reporting purposes). Such applicable limit shall include the value of any stock awards
that are received in lieu of all or a portion of any annual committee cash retainers or other similar cash based payments. Stock awards
granted to an individual while he or she was serving in the capacity as an Employee or while he or she was an Independent Contractor but
not an Outside Director will not count for purposes of the limitations set forth in this Section 11.

 

12. Leaves
of Absence/Transfer Between Locations. The Administrator shall have the discretion to determine at any time whether and to what extent
the vesting of Awards shall be suspended during any leave of absence; provided, however, that in the absence of such determination, vesting
of Awards shall continue during any paid leave and shall be suspended during any unpaid leave (unless otherwise required by Applicable
Laws). A Participant will not cease to be an Employee in the case of (i) any leave of absence approved by the Participant’s
employer or (ii) transfers between locations of the Company or between the Company or any Affiliate. If an Employee is holding an
Incentive Stock Option and such leave exceeds three (3) months then, for purposes of Incentive Stock Option status only, such Employee’s
service as an Employee shall be deemed terminated on the first (1st) day following such three (3) month period and
the Incentive Stock Option shall thereafter automatically treated for tax purposes as a Nonstatutory Stock Option in accordance with Applicable
Laws, unless reemployment upon the expiration of such leave is guaranteed by contract or statute, or unless provided otherwise pursuant
to a written Company policy.

 

    - 16 -

     

    

 

13. Change
in Time Commitment. In the event a Participant’s regular level of time commitment in the performance of his or her services
for the Company or any Affiliates is reduced (for example, and without limitation, if the Participant is an Employee of the Company and
the Employee has a change in status from full-time to part-time or takes an extended leave of absence) after the date of grant of any
Award, the Committee or the Administrator, in that party’s sole discretion, may (x) make a corresponding reduction in the number
of Shares or cash amount subject to any portion of such Award that is scheduled to vest or become payable after the date of such change
in time commitment, and (y) in lieu of or in combination with such a reduction, extend the vesting schedule applicable to such Award
(in accordance with Section 409A of the Code, as applicable). In the event of any such reduction, the Participant will have no right
with respect to any portion of the Award that is so amended.

 

14. Transferability
of Awards. Unless determined otherwise by the Administrator, an Award may not be sold, pledged, assigned, hypothecated, transferred,
or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of
the Participant, only by the Participant. If the Administrator makes an Award transferable, such Award will contain such additional terms
and conditions as the Administrator deems appropriate provided, however, that in no event may any Award be transferred for consideration
to a third-party financial institution.

 

15. Adjustments;
Dissolution or Liquidation; Merger or Change in Control.

 

(a) Adjustments.
In the event of a stock split, reverse stock split, stock dividend, combination, consolidation, recapitalization (including a recapitalization
through a large nonrecurring cash dividend) or reclassification of the Shares, subdivision of the Shares, a rights offering, a reorganization,
merger, spin-off, split-up, repurchase, or exchange of Common Stock or other securities of the Company or other significant corporate
transaction, or other change affecting the Common Stock occurs, the Administrator, in order to prevent dilution, diminution or enlargement
of the benefits or potential benefits intended to be made available under the Plan, will, in such manner as it may deem equitable, adjust
the number, kind and class of securities that may be delivered under the Plan and/or the number, class, kind and price of securities covered
by each outstanding Award. Notwithstanding the forgoing, all adjustments under this Section 15 shall be made in a manner that does
not result in taxation under Section 409A of the Code.

 

(b) Dissolution or Liquidation.
In the event of the proposed winding up, dissolution or liquidation of the Company, the Administrator will notify each Participant as
soon as practicable prior to the effective date of such proposed transaction. To the extent it has not been previously exercised or settled,
an Award will terminate immediately prior to the consummation of such proposed action.

 

    - 17 -

     

    

 

(c) Corporate Transaction.
In the event of (i) a transfer of all or substantially all of the Company’s assets, (ii) a merger, consolidation or other
capital reorganization or business combination transaction of the Company with or into another corporation, entity or person, (iii) the
consummation of a transaction, or series of related transactions, in which any “person” (as such term is used in Sections 13(d)
and 14(d) of the Exchange Act) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly
or indirectly, of more than 50% of the Company’s then outstanding capital stock, or (iv) a Change in Control (each, a “Corporate
Transaction”), each outstanding Award (vested or unvested) will be treated as the Administrator determines, which determination
may be made without the consent of any Participant and need not treat all outstanding Awards (or portion thereof) in an identical manner.
Such determination, without the consent of any Participant, may provide (without limitation) for one or more of the following in the event
of a Corporate Transaction: (A) the continuation of such outstanding Awards by the Company (if the Company is the surviving corporation);
(B) the assumption of such outstanding Awards by the surviving corporation or its parent; (C) the substitution by the surviving
corporation or its parent of new options or other equity awards for such Awards; (D) the cancellation of such Awards in exchange
for a payment to the Participants equal to the excess of (1) the Fair Market Value of the Shares subject to such Awards as of the
closing date of such Corporate Transaction over (2) the exercise price or purchase price paid or to be paid (if any) for the Shares
subject to the Awards; provided further, that at the discretion of the Administrator, such payment may be subject to the same conditions
that apply to the consideration that will be paid to holders of Shares in connection with the transaction; provided, however, that any
payout in connection with a terminated award shall comply with Section 409A of the Code to the extent necessary to avoid taxation
thereunder; (E) the full or partial acceleration of exercisability or vesting and accelerated expiration of an outstanding Award
and lapse of the Company’s right to repurchase or re-acquire Shares acquired under an Award or lapse of forfeiture rights with respect
to Shares acquired under an Award; (F) the opportunity for Participants to exercise their Options prior to the occurrence of the
Corporate Transaction and the termination (for no consideration) upon the consummation of such Corporate Transaction of any Options not
exercised prior thereto; or (G) the cancellation of outstanding Awards in exchange for no consideration.

 

(d) Change in Control.
An Award may be subject to additional acceleration of vesting and exercisability upon or after a Change in Control as may be provided
in the Award Agreement for such Award or as may be provided in any other written agreement between the Company or any Affiliate and the
Participant, but in the absence of such provision, no such acceleration will occur.

 

16. Tax.

 

(a) Withholding Requirements.
Prior to the delivery of any Shares or cash pursuant to an Award (or exercise thereof) or prior to any time the Award or Shares are subject
to taxation or other Tax-Related Items, the Company and/or the Participant’s employer will have the power and the right to deduct
or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy any Tax-Related Items or other items that
are required to be withheld or deducted or otherwise applicable with respect to such Award.

 

(b) Withholding Arrangements.
The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit a Participant
to satisfy such withholding or deduction obligations or any other Tax-Related Items, in whole or in part by (without limitation) (a) paying
cash, (b) electing to have the Company withhold otherwise deliverable cash or Shares, or (c) delivering to the Company already-owned
Shares; provided that, unless specifically permitted by the Company, any proceeds derived from a cashless exercise must be an approved
broker-assisted cashless exercise or the cash or Shares withheld or delivered must be limited to avoid financial accounting charges under
applicable accounting guidance or Shares must have been previously held for the minimum duration required to avoid financial accounting
charges under applicable accounting guidance. The Fair Market Value of the Shares to be withheld or delivered will be determined based
on such methodology that the Company deems to be reasonable and in accordance with Applicable Laws.

 

(c) Compliance With
Section 409A of the Code. Awards will be designed and operated in such a manner that they are either exempt from the application
of, or comply with, the requirements of Section 409A of the Code such that the grant, payment, settlement or deferral will not be
subject to the additional tax or interest applicable under Section 409A of the Code. The Plan and each Award Agreement under the
Plan is intended to meet the requirements of Section 409A of the Code (or an exemption therefrom) and will be construed and
interpreted in accordance with such intent, except as otherwise determined in the sole discretion of the Administrator. To the extent
that an Award or payment, or the settlement or deferral thereof, is subject to Section 409A of the Code the Award will be granted,
paid, settled or deferred in a manner that will meet the requirements of Section 409A of the Code (or an exemption therefrom), such
that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Section 409A
of the Code. In no event will the Company be responsible for or reimburse a Participant for any taxes or other penalties incurred as a
result of applicable of Section 409A of the Code.

 

    - 18 -

     

    

 

17. No
Effect on Employment or Service. Neither the Plan nor any Award will confer upon a Participant any right with respect to continuing
the Participant’s relationship as a Service Provider with the Company or any Affiliate, nor will they interfere in any way with
the Participant’s right or the Company’s or any Affiliate’s right to terminate such relationship at any time, with or
without cause, to the extent permitted by Applicable Laws.

 

18. Date
of Grant. The date of grant of an Award will be, for all purposes, the date on which the Administrator makes the determination granting
such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided to each Participant
within a reasonable time after the date of such grant.

 

19. Corporate
Records Control. In the event that the corporate records (e.g., Board consents, resolutions or minutes) documenting the corporate
action constituting the grant contain terms (e.g., exercise price, vesting schedule or number of Shares) that are inconsistent with those
in the Award Agreement or related grant documents as a result of a clerical error in the papering of the Award Agreement or related grant
documents, the corporate records will control and the Participant will have no legally binding right to the incorrect term in the Award
Agreement or related grant documents.

 

20. Clawback/Recovery.
The Administrator may specify in an Award Agreement that the Participant’s rights, payments, and/or benefits with respect to an
Award will be subject to reduction, cancellation, forfeiture, and/or recoupment upon the occurrence of certain specified events, in addition
to any applicable vesting, performance or other conditions and restrictions of an Award. Notwithstanding any provisions to the contrary
under this Plan, an Award granted under the Plan shall be subject to the Company’s clawback policy as may be established and/or
amended from time to time. The Administrator may require a Participant to forfeit or return to and/or reimburse the Company for all or
a portion of the Award and/or Shares issued under the Award, any amounts paid under the Award, and any payments or proceeds paid or provided
upon disposition of the Shares issued under the Award, pursuant to the terms of such Company policy or as necessary or appropriate to
comply with Applicable Laws.

 

21. Term
of Plan. Subject to Section 25 of the Plan, the Plan will become effective as of the Effective Date. The Plan will continue in
effect unless terminated earlier under Section 22 of the Plan. No Incentive Stock Options may be granted after August 11, 2031. No
Awards may be granted under the Plan while the Plan is suspended or after it is terminated.

 

22. Amendment
and Termination of the Plan.

 

(a) Amendment and Termination.
The Administrator may at any time amend, alter, suspend or terminate the Plan.

 

    - 19 -

     

    

 

(b) Stockholder Approval.
The Company will obtain stockholder approval of any Plan amendment to the extent necessary and desirable to comply with Applicable Laws.

 

(c) Effect of Amendment
or Termination. No amendment, alteration, suspension or termination of the Plan will materially impair the rights of any Participant,
unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the Participant
and the Company. Termination of the Plan will not affect the Administrator’s ability to exercise the powers granted to it hereunder
with respect to Awards granted under the Plan prior to the date of such termination.

 

23. Conditions
Upon Issuance of Shares.

 

(a) Legal Compliance.
Shares will not be issued pursuant to the exercise or vesting (as applicable) of an Award unless the exercise or vesting of such Award
and the issuance and delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for
the Company with respect to such compliance.

 

(b) Investment Representations.
As a condition to the exercise of an Award, the Company may require the person exercising such Award to represent and warrant at the time
of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such
Shares if, in the opinion of counsel for the Company, such a representation is required.

 

24. Inability
to Obtain Authority. The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority
is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, will relieve the Company
of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority will not have been obtained.

 

25. Stockholder
Approval. The Plan will be subject to approval by the stockholders of the Company within twelve (12) months after the date the
Plan is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required under Applicable Laws.

 

26. Governing
Law. The Plan and all Awards hereunder shall be construed in accordance with and governed by the laws of the State of Delaware, but
without regard to its conflict of law provisions.

 

o o o 

 

    - 20 -Exhibit 10.6

 

MOMENTUS INC.

 

2021 EQUITY INCENTIVE PLAN

 

NOTICE OF STOCK OPTION GRANT

 

Participant Name:

 

You have been granted an Option
to purchase Common Stock, subject to the terms and conditions of this Notice of Stock Option Grant (the “Notice of Grant”),
the Momentus Inc. 2021 Equity Incentive Plan (the “Plan”) and the attached Stock Option Agreement ([which includes
the Country-Specific Addendum,] the “Award Agreement”), as set forth below. Unless otherwise defined herein,
the terms used in this Notice of Grant shall have the meanings defined in the Plan.

 

	Grant Number:	 	 
	 	 	 
	Date of Grant:	 	 
	 	 	 
	Vesting Commencement Date:	 	 
	 	 	 
	Exercise Price per Share:	 	USD $	 
	 	 	 	 
	Total Number of Shares:	 	 
	 	 	 
	Total Exercise Price:	 	USD $	 
	 	 	 	 
	Type of Option:	 	 	U.S. Incentive Stock Option
	 	 	 	 
	 	 	 	Nonstatutory Stock Option
	 	 	 	 
	Term/Expiration Date:	 
	 	 	 
	Vesting Schedule:	 	 	 

 

Subject to Section 2 of the Award Agreement, this
Option may be exercised, in whole or in part, in accordance with the following schedule:

 

	
     

    

	 
	 

 

	Termination Period:	 	[This Option will be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death, Disability or Cause.  If Participant’s relationship as a Service Provider is terminated as a result of the Service Provider’s death or Disability, this Option will be exercisable for twelve (12) months after Participant ceases to be a Service Provider.  If Participant’s relationship as a Service Provider is terminated for Cause, this Option (including any vested portion thereof) shall immediately terminate in its entirety upon Participant being first notified of such termination for Cause and Participant will be prohibited from exercising this Option from and after the date of such termination.  Notwithstanding the foregoing, in no event may this Option be exercised after the Term/Expiration Date as provided above and may be subject to earlier termination as provided in Section 15 of the Plan.]

 

     

     

    

 

By accepting this Option (whether
electronically or otherwise), Participant acknowledges and agrees to the following:

 

1. This
Option is governed by the terms and conditions of this Award Agreement and the Plan. In the event of a conflict between the terms of the
Plan and this Award Agreement, the terms of the Plan will prevail. Capitalized terms used and not defined in this Award Agreement and
the Notice of Grant will have the meaning set forth in the Plan.

 

2. Participant
has received a copy of the Plan, the Award Agreement, the Plan prospectus, and the Insider Trading Policy and represents that Participant
has read these documents and is familiar with their terms. Participant further agrees to accept as binding, conclusive, and final all
decisions and interpretations of the Administrator (or its delegees) regarding any questions relating to this Option and the Plan.

 

3. Vesting
of the Option is subject to Participant’s continuous status as a Service Provider, which is for an unspecified duration and may
be terminated at any time, with or without Cause, and nothing in the Award Agreement or the Plan changes the nature of that relationship.

 

4. The
Company is not providing any tax, legal, or financial advice, nor is the Company making any recommendations regarding participation in
the Plan. Participant should consult with his or her own personal tax, legal, and financial advisors regarding participation in the Plan
before taking any action related to the Plan.

 

5. Participant
consents to electronic delivery and participation as set forth in the Plan and the Award Agreement.

 

	
    PARTICIPANT:
	 	MOMENTUS INC.
	 	 	 
	 	 	 
	Signature	 	By
	 	 	 
	 	 	 
	Print Name	 	Title

 

     

     

    

 

MOMENTUS INC.

 

2021 EQUITY INCENTIVE PLAN

 

STOCK OPTION AGREEMENT

 

1. Grant of Option.
The Company hereby grants to the individual (the “Participant”) named in the Notice of Stock Option Grant (the
“Notice of Grant”) an option (the “Option”) under the Momentus Inc. 2021 Equity Incentive
Plan (the “Plan”) to purchase the number of Shares set forth in the Notice of Grant, at the exercise price per
Share set forth in the Notice of Grant (the “Exercise Price”), subject to all of the terms and conditions set
forth in the Notice of Grant, this Stock Option Agreement (the “Award Agreement”) and the Plan, which is incorporated
herein by reference. [If there is a conflict between the terms and conditions of the Plan and the terms and conditions of this Award Agreement,
the terms and conditions of the Plan will prevail.]

 

If designated in the Notice
of Grant as an Incentive Stock Option (“ISO”), this Option is intended to qualify as an ISO to the maximum extent
permitted under Section 422 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”). However, if
this Option is intended to be an ISO, to the extent that it exceeds the USD $100,000 rule of Code Section 422(d) it will be treated as
a Nonstatutory Stock Option (“NSO”). Further, if for any reason this Option (or portion thereof) will not qualify
as an ISO, then, to the extent of such non-qualification, such Option (or portion thereof) shall be regarded as a NSO granted under the
Plan. In no event will the Administrator, the Company or any Parent or Subsidiary or any of their respective employees or directors have
any liability to Participant (or any other person) due to the failure of the Option to qualify for any reason as an ISO.

 

2. Vesting Schedule.
Except as provided in Section 3, the Option awarded by this Award Agreement will vest in accordance with the vesting provisions set forth
in the Notice of Grant. Options scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest in accordance
with any of the provisions of this Award Agreement, unless Participant will have been continuously a Service Provider from the Date of
Grant until the date such vesting occurs. Service Provider status for purposes of this Award will end on the day that Participant is no
longer actively providing services as an Employee, Director, or Independent Contractor and will not be extended by any notice period or
“garden leave” that may be required contractually or under any Applicable Laws. Notwithstanding the foregoing, the Administrator
(or any delegate) shall have the sole and absolute discretion to determine when Participant is no longer providing active service for
purposes of Service Provider status and participation in the Plan.

 

3. Exercise of Option.

 

(a) Right to
Exercise. This Option may be exercised only within the term set forth in the Notice of Grant and may be exercised during such
term only in accordance with the Plan and the terms of this Award Agreement.

 

(b) Method of Exercise. This Option is
exercisable by delivery of an exercise notice, in the form attached as Exhibit A (the “Exercise
Notice”) or in a manner and pursuant to such procedures as the Administrator may determine, which will state the
election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the “Exercised
Shares”), and such other representations and agreements as may be required by the Company pursuant to the provisions
of the Plan. The Exercise Notice will be completed by Participant and delivered to the Company. The Exercise Notice will be
accompanied by payment of the aggregate Exercise Price as to all Exercised Shares together with any Tax-Related Items (as defined
below) required to be withheld, paid or provided pursuant to any Applicable Laws. This Option will be deemed to be exercised upon
receipt by the Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price and any other
requirements or restrictions that may be imposed by the Company to comply with Applicable Laws or facilitate administration of the
Plan. Notwithstanding the above, Participant understands that the Applicable Laws of the country in which Participant is residing or
working at the time of grant, vesting, and/or exercise of this Option (including any rules or regulations governing securities,
foreign exchange, tax, labor or other matters) may restrict or prevent exercise of this Option, and neither the Company nor any
Parent or Subsidiary assumes any liability in relation to this Option in such case.

 

    

    

    

 

4. Method of Payment.
Payment of the aggregate Exercise Price will be by any of the following, or a combination thereof, at the election of Participant unless
otherwise specified by the Company in its sole discretion:

 

(a) cash (U.S. dollars); or

 

(b) check (denominated in U.S. dollars)[; or

 

(c) consideration received by
the Company under a formal cashless exercise program adopted by the Company in connection with the Plan][; or

 

(d) if Participant is subject
to Section 16 of the Exchange Act, Participant may direct the Company to withhold Shares to be issued upon exercise of the Option to pay
the aggregate Exercise Price.]

 

Participant understands and
agrees that, unless otherwise permitted by the Company, any cross-border remittance made to exercise this Option or transfer proceeds
received upon the sale of Shares must be made through a locally authorized financial institution or registered foreign exchange agency
and may require the Participant to provide such entity with certain information regarding the transaction.

 

5. Tax Obligations.

 

(a) Withholding of Taxes.
Regardless of any action the Company or Participant’s employer (the “Employer”) takes with respect to
any or all applicable national, local, or other tax or social contribution, withholding, required deductions, or other payments, if any,
that arise upon the grant, vesting, or exercise of this Option, the holding or subsequent sale of Shares, and the receipt of dividends,
if any, or otherwise in connection with this Option or the Shares (“Tax-Related Items”), Participant acknowledges
and agrees that the ultimate liability for all Tax-Related Items legally due by Participant is and remains Participant’s responsibility
and may exceed any amount actually withheld by the Company or the Employer. Participant further acknowledges and agrees that Participant
is solely responsible for filing all relevant documentation that may be required in relation to this Option or any Tax-Related Items (other
than filings or documentation that is the specific obligation of the Company, an Affiliate or Employer pursuant to Applicable Laws) such
as but not limited to personal income tax returns or reporting statements in relation to the grant, vesting or exercise of this Option,
the holding of Shares or any bank or brokerage account, the subsequent sale of Shares, and the receipt of any dividends. Participant further
acknowledges that the Company and the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related
Items in connection with any aspect of the Option, including the grant, vesting, or exercise of the Option, the subsequent sale of Shares
acquired under the Plan and the receipt of dividends, if any; and (b) does not commit to and is under no obligation to structure the terms
of the Option or any aspect of the Option to reduce or eliminate Participant’s liability for Tax-Related Items, or achieve any particular
tax result. Participant also understands that Applicable Laws may require varying Share or Option valuation methods for purposes of calculating
Tax-Related Items, and the Company assumes no responsibility or liability in relation to any such valuation or for any calculation or
reporting of income or Tax-Related Items that may be required of Participant under Applicable Laws. Further, if Participant has become
subject to tax in more than one jurisdiction between the date of grant and the date of any relevant taxable event, Participant acknowledges
that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items
in more than one jurisdiction.

 

    2

    

    

 

(b) Satisfaction of Tax-Related
Items. As a condition to the grant, vesting and exercise of this Option and as set forth in Section 16 of the Plan, Participant hereby
agrees to make adequate provision for the satisfaction of (and will indemnify the Company and any Affiliate for) any Tax-Related Items.
No payment will be made to Participant (or his or her estate or beneficiary) related to an Option, and no Shares will be issued pursuant
to an Option, unless and until satisfactory arrangements (as determined by the Company) have been made by Participant with respect to
the payment of any Tax-Related Items obligations of the Company and/or any Parent, Subsidiary, or Employer with respect to the grant,
vesting or exercise of the Option. [In this regard, Participant authorizes the Company and/or any Affiliate or Employer, or their respective
agents, at their discretion, to satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following:

 

(i) withholding from Participant’s
wages or other cash compensation paid to Participant by the Company or the Employer[; or

 

(ii) withholding from proceeds
of the sale of Shares acquired upon exercise of the Option, either through a voluntary sale or through a mandatory sale arranged by the
Company (on Participant’s behalf pursuant to this authorization)][; or

 

(iii) withholding in Shares to be issued upon exercise
of the Option].]

 

[Notwithstanding the foregoing,
if Participant is subject to Section 16 of the Exchange Act, Participant may direct the Company to withhold Shares to be issued upon exercise
of the Option to satisfy Participant’s obligations with regard to all Tax-Related Items.]

 

If the obligation for Tax-Related
Items is satisfied by withholding Shares, the Participant is deemed to have been issued the full number of Shares purchased for tax purposes,
notwithstanding that a number of Shares is held back solely for the purpose of paying the Tax-Related Items due as a result of the Participant’s
participation in the Plan. Participant shall pay to the Company or a Parent, Subsidiary, or Employer any amount of Tax-Related Items that
the Company may be required to withhold, pay or otherwise provide for as a result of Participant’s participation in the Plan that
cannot be satisfied by one or more of the means previously described in this Section 5. Participant acknowledges and agrees that the Company
may refuse to honor the exercise and refuse to issue or deliver the Shares or the proceeds of the sale of Shares if Participant fails
to comply with his or her obligations in connection with the Tax-Related Items.

 

(c) Notice of Disqualifying
Disposition of ISO Shares. If the Option granted to Participant herein is an ISO, and if Participant sells or otherwise disposes of
any of the Shares acquired pursuant to the ISO on or before the later of (i) the date two (2) years after the Date of Grant, or (ii) the
date one (1) year after the date of exercise, Participant will immediately notify the Company in writing of such disposition.

 

(d) Code Section 409A (Applicable
Only to Participants Subject to U.S. Taxes). Under Code Section 409A, an option that is granted with a per Share exercise price that
is determined by the Internal Revenue Service (the “IRS”) to be less than the Fair Market Value of a Share on
the date of grant (a “Discount Option”) may be considered “deferred compensation.” A Discount Option
may result in (i) income recognition by Participant prior to the exercise of the option, (ii) an additional twenty percent (20%) federal
income tax, and (iii) potential penalty and interest charges. The Discount Option may also result in additional state income, penalty
and interest charges to the Participant. Participant acknowledges that the Company cannot and has not guaranteed that the IRS will agree
that the per Share exercise price of this Option equals or exceeds the Fair Market Value of a Share on the Date of Grant in a later examination.
Participant agrees that if the IRS determines that the Option was granted with a per Share exercise price that was less than the Fair
Market Value of a Share on the date of grant, Participant will be solely responsible for Participant’s costs related to such a determination.

 

6. Rights as Stockholder.
Neither Participant nor any person claiming under or through Participant will have any of the rights or privileges of a stockholder of
the Company in respect of any Shares unless and until such Shares will have been issued (as evidenced by the appropriate entry on the
books of the Company or of a duly authorized transfer agent of the Company). After such issuance, Participant will have all the rights
of a stockholder of the Company with respect to voting such Shares and receipt of dividends and distributions on such Shares, but prior
to such issuance, Participant will not have any rights to dividends and/or distributions on such Shares.

 

7. No Guarantee of Continued
Service or Grants. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF SHALL OCCUR
ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE EMPLOYER OR CONTRACTING ENTITY (AS APPLICABLE) AND NOT THROUGH THE ACT OF
BEING HIRED, BEING GRANTED THE OPTION OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AWARD AGREEMENT,
THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED
ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S
RIGHT OR THE RIGHT OF THE EMPLOYER OR THE COMPANY (OR ANY AFFILIATE) TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER
AT ANY TIME, WITH OR WITHOUT CAUSE (SUBJECT TO APPLICABLE LAWS).

 

    3

    

    

 

8. Nature of Grant. In accepting the Option,
Participant acknowledges, understands and agrees that:

 

(a) the Plan is established
voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any
time;

 

(b) the grant of the Option
is voluntary and occasional and does not create any contractual or other right to receive future grants of Options, or benefits in lieu
of Options even if Options have been granted repeatedly in the past;

 

(c) all decisions with respect
to future awards of Options, if any, will be at the sole discretion of the Company;

 

(d) Participant’s participation in the Plan
is voluntary;

 

(e) the Option and the Shares
subject to the Option are extraordinary items that do not constitute regular compensation for services rendered to the Company or the
Employer, and that are outside the scope of Participant’s employment contract, if any;

 

(f) the Option and the Shares
subject to the Option are not intended to replace any pension rights or compensation;

 

(g) the Option and the Shares
subject to the Option are not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating
any severance, resignation, termination, redundancy, dismissal, or end of service payments, bonuses, long-service awards, pension or retirement
or welfare benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services
for the Company or the Employer, subject to Applicable Laws;

 

(h) the future value of the
underlying Shares is unknown and cannot be predicted with certainty; further, if Participant exercises the Option and obtains Shares,
the value of the Shares acquired upon exercise may increase or decrease in value, even below the Exercise Price;

 

(i) Participant also understands
that neither the Company nor any Affiliate is responsible for any foreign exchange fluctuation between local currency and the United States
Dollar or the selection by the Company or any Affiliate in its sole discretion of an applicable foreign currency exchange rate that may
affect the value of the Option (or the calculation of income or Tax-Related Items thereunder);

 

(j) in consideration of the
grant of the Option, no claim or entitlement to compensation or damages shall arise from forfeiture of the Option resulting from termination
of employment by the Employer (for any reason whatsoever and whether or not in breach of Applicable Laws, including, without limitation,
applicable local labor laws), and Participant irrevocably releases the Employer from any such claim that may arise; if, notwithstanding
the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, Participant shall be deemed irrevocably to
have waived his or her entitlement to pursue such claim; and

 

(k) the Option and the benefits under the Plan, if
any, will not automatically transfer to another company in the case of a merger, take-over or transfer of liability.

 

9. No Advice Regarding
Grant. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s
participation in the Plan, or Participant’s acquisition or sale of the underlying Shares. Participant is hereby advised to consult
with his or her own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any
action related to the Plan.

 

    4

    

    

 

10. Data Privacy.
Participant hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of Participant’s
Personal Data (as described below) by and among, as applicable, the Company, any Affiliate or third parties as may be selected by the
Company for the exclusive purpose of implementing, administering and managing Participant’s participation in the Plan. Participant
understands that refusal or withdrawal of consent will affect Participant’s ability to participate in the Plan; without providing
consent, Participant will not be able to participate in the Plan or realize benefits (if any) from the Option.

 

Participant understands
that the Company and any Affiliate, or designated third parties may hold personal information about Participant, including, but not limited
to, Participant’s name, home address and telephone number, date of birth, social insurance number or other identification number,
salary, nationality, job title, any shares of stock or directorships held in the Company or any Affiliate details of all Options or any
other entitlement to Shares awarded, canceled, exercised, vested, unvested or outstanding in Participant’s favor (“Personal
Data”). Participant understands that Personal Data may be transferred to any Affiliate or third parties assisting in the implementation,
administration and management of the Plan, that these recipients may be located in the United States, Participant’s country (if
different than the United States), or elsewhere, and that the recipient’s country may have different data privacy laws and protections
than Participant’s country. In particular, the Company may transfer Personal Data to the broker or stock plan administrator assisting
with the Plan, to its legal counsel and tax/accounting advisor, and to the Affiliate or entity that is Participant’s employer and
its payroll provider.

 

Participant should also
refer to any data privacy policy implemented by the Company (which will be available to Participant separately and may be updated from
time to time) for more information regarding the collection, use, storage, and transfer of Participant’s Personal Data.

 

11.
Address for Notices. Any notice to be given to the Company under the terms of this Award Agreement will be addressed to the Company,
in care of its Secretary at Momentus Inc., 3901 N. First Street, San Jose, CA 95134, or at such other address as the Company may hereafter
designate in writing.

 

12. Non-Transferability
of Option. This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may
be exercised during the lifetime of Participant only by Participant.

 

13. Binding Agreement.
Subject to the limitation on the transferability of this Option contained herein, this Award Agreement will be binding upon and inure
to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.

 

14. Additional Conditions
to Issuance of Stock. If at any time the Company will determine, in its discretion, that the listing, registration, qualification
or compliance of the Shares upon or with any securities exchange or under any Applicable Laws, the tax code and related regulations or
the consent or approval of any governmental regulatory authority is necessary or desirable as a condition to the grant or vesting of
the Option or purchase by, or issuance of Shares to, Participant (or his or her estate) hereunder, such purchase or issuance will not
occur unless and until such listing, registration, qualification, compliance, consent or approval will have been completed, effected
or obtained free of any conditions not acceptable to the Company. The Company will make all reasonable efforts to meet the requirements
of any Applicable Laws. Assuming such compliance, for purposes of the Tax-Related Items, the Exercised Shares will be considered transferred
to Participant on the date the Option is exercised with respect to such Exercised Shares. The Company shall not be obligated to issue
any Shares pursuant to this Option at any time if the issuance of Shares, or the exercise of an Option by Participant, violates or is
not in compliance with any Applicable Laws.

 

    5

    

    

 

15. Lock-Up Agreement.
If so requested by the Company in connection with a transaction pursuant to which the securities of the Company will be exchanged for
securities of a company (or any successor or parent thereof) registered under the Securities Act of 1933, as amended (the “Securities
Act”), including, without limitation, through a transaction with a publicly-listed blank check company then registered under
the Securities Act (a “SPAC Transaction”), Participant hereby agrees (i) not to offer, pledge, sell, contract
to sell, make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of any securities of the Company however
and whenever acquired without the prior written consent of the Company for a period of 180 days from the date of the consummation of the
transaction in which the securities of the Company became a Listed Security (as defined below), and (ii) to execute an agreement reflecting
the foregoing. For purposes of this Section, “Listed Security” means any security of the Company that is listed
or approved for listing on a national securities exchange (including, without limitation, pursuant to a SPAC Transaction) or designated
or approved for designation as a national market system security on an interdealer quotation system by the Financial Industry Regulatory
Authority (or any successor thereto).

 

16. Plan Governs. This
Award Agreement is subject to all terms and provisions of the Plan. If there is a conflict between one or more provisions of this Award
Agreement and one or more provisions of the Plan, the provisions of the Plan will govern. Capitalized terms used and not defined in this
Award Agreement and in the Notice of Grant will have the meaning set forth in the Plan.

 

17. Administrator Authority.
The Administrator will have the power to interpret the Plan and this Award Agreement and to adopt such rules for the administration, interpretation
and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the
determination regarding whether any Shares subject to the Option have vested). All actions taken, and all interpretations and determinations
made, by the Administrator in good faith will be final and binding upon Participant, the Company and all other interested persons. No
member of the Administrator will be personally liable for any action, determination or interpretation made in good faith with respect
to the Plan or this Award Agreement.

 

18. Electronic Delivery
and Acceptance. By accepting this Option, Participant agrees to participate in the Plan through an on-line or electronic system established
and maintained by the Company or a third party designated by the Company, and consents to the electronic delivery of the Award Agreement,
the Plan, account statements, Plan prospectuses, and all other documents, communications, or information related to the Option and current
or future participation in the Plan. Electronic delivery may include the delivery of a link to the Company intranet or the internet site
of a third party involved in administering the Plan, the delivery of the document via e-mail, or such other delivery determined at the
Company’s discretion. Participant may receive from the Company a paper copy of any documents delivered electronically at no cost
if Participant contacts the Company by telephone, through a postal service, or electronic mail to Stock Administration.

 

19. Translation. If Participant has received
this Award Agreement, including appendices, or any other document related to the Plan translated into a language other than English, and
the meaning of the translated version is different than the English version, the English version will control.

 

20. Imposition of Other
Requirements. The Company reserves the right to impose other requirements on Participant’s participation in the Plan, on the
Option and on any Shares acquired under the Plan, to the extent the Company determines it is necessary or advisable in order to comply
with any Applicable Laws or facilitate the administration of the Plan, and to require Participant to sign any additional agreements or
undertakings that may be necessary to accomplish the foregoing. Furthermore, Participant understands that the Applicable Laws of the country
in which he or she is resident at the time of grant, vesting, and/or exercise of this Option or the holding or disposition of Shares (including
any rules or regulations governing securities, foreign exchange, tax, labor or other matters) may restrict or prevent exercise of this
Option or may subject Participant to additional procedural or regulatory requirements he or she is solely responsible for and will have
to independently fulfill in relation to this Option or the Shares. [Notwithstanding any provision herein, this Option and any Exercised
Shares shall be subject to any special terms and conditions or disclosures as set forth in any addendum for Participant’s country
(the “Country-Specific Addendum,” which forms part this Award Agreement).] Participant also understands and
agrees that if he or she works, resides, moves to, or otherwise is or becomes subject to Applicable Laws or company policies of another
jurisdiction at any time, certain country-specific notices, disclaimers and/or terms and conditions may apply to him or her as from the
date of grant, unless otherwise determined by the Company in its sole discretion.

 

21. Captions. Captions
provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Award Agreement.

 

22. Agreement Severable.
If any provision in this Award Agreement will be held invalid or unenforceable, such provision will be severable from, and such invalidity
or unenforceability will not be construed to have any effect on, the remaining provisions of this Award Agreement.

 

    6

    

    

 

23. Modifications to the
Award Agreement. This Award Agreement constitutes the entire understanding of the parties on the subjects covered. Participant expressly
warrants that he or she is not accepting this Award Agreement in reliance on any promises, representations, or inducements other than
those contained herein. Modifications to this Award Agreement or the Plan can be made only in an express written contract executed by
a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or this Award Agreement, the Company reserves
the right to revise this Award Agreement as it deems necessary or advisable, in its sole discretion and without the consent of Participant,
to comply with Code Section 409A or to otherwise avoid imposition of any additional tax or income recognition under Code Section 409A
in connection to this Option.

 

24. Amendment, Suspension
or Termination of the Plan. By accepting this Award, Participant expressly warrants that he or she has received an Option under the
Plan, and has received, read and understood a description of the Plan. Participant understands that the Plan is discretionary in nature
and may be amended, suspended or terminated by the Company at any time.

 

25. Governing Law and Venue.
This Award Agreement will be governed by the laws of the State of Delaware, without giving effect to the conflict of law principles thereof.
For purposes of litigating any dispute that arises under this Award or this Award Agreement, the parties hereby submit to and consent
to the jurisdiction of the State of Delaware and agree that such litigation will be conducted in the courts of New Castle County, Delaware,
or the federal courts for the United States for the District of Delaware, and no other courts.

   

***

 

    7

     

    

 

[Country-Specific Addendum

 

This Addendum includes additional country-specific
notices, disclaimers, and/or terms and conditions that apply to individuals who are working or residing in the countries listed below,
if any, and that may be material to Participant’s participation in the Plan. Such notices, disclaimers, and/or terms and conditions
may also apply, as from the date of grant, if Participant moves to or otherwise is or becomes subject to the Applicable Laws or company
policies of any country listed below. However, because foreign exchange regulations and other local laws are subject to frequent change,
Participant is advised to seek advice from his or her own personal legal and tax advisor prior to accepting or exercising an Option or
holding or selling Shares acquired under the Plan. The Company is not providing any tax, legal or financial advice, nor is the Company
making any recommendations regarding Participant’s acceptance of the Option or participation in the Plan. Unless otherwise noted
below, capitalized terms shall have the same meaning assigned to them under the Plan, the Notice of Stock Option Grant and the Award Agreement.
This Addendum forms part of the Award Agreement and should be read in conjunction with the Award Agreement and the Plan.

 

Securities Law Notice: Unless otherwise
noted, neither the Company nor the Shares are registered with any local stock exchange or under the control of any local securities regulator
outside the United States. The Award Agreement (of which this Addendum is a part), the Notice of Stock Option Grant, the Plan, and any
other communications or materials that you may receive regarding participation in the Plan do not constitute advertising or an offering
of securities outside the United States, and the issuance of securities described in any Plan-related documents is not intended for public
offering or circulation in your jurisdiction.]

 

    8

     

    

 

EXHIBIT A

 

MOMENTUS INC.

 

2021 EQUITY INCENTIVE PLAN

 

EXERCISE NOTICE

 

	Momentus Inc.	 
	 	 
	 	 
	Attention:	 	 

 

1. Exercise of
Option. Effective as of today, _______________, _______, the undersigned (“Purchaser”) hereby elects
to purchase, ______________, shares (the “Shares”) of the Common Stock of Momentus Inc. (the
“Company”) under and pursuant to the 2021 Equity Incentive Plan (the “Plan”),
the Notice of Stock Option Grant and the Stock Option Agreement dated _______________, ________ (the “Award
Agreement”). The purchase price for the Shares will be USD $ __________, as required by the Award Agreement.

 

2. Delivery
of Payment. Purchaser herewith delivers to the Company, or otherwise makes adequate arrangements satisfactory to the Company, the
full purchase price of the Shares and any Tax-Related Items (as defined in the Award Agreement) to be paid in connection with the exercise
of the Option.

 

3. Representations
of Purchaser. Purchaser acknowledges that Purchaser has received, read and understood the Plan and the Award Agreement and agrees
to abide by and be bound by their terms and conditions.

 

4. Rights
as Stockholder. Until the issuance (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer
agent of the Company) of the Shares, no right to vote or receive dividends or any other rights as a stockholder will exist with respect
to the Shares subject to the Option, notwithstanding the exercise of the Option. The Shares so acquired will be issued to Purchaser as
soon as practicable after exercise of the Option. No adjustment will be made for a dividend or other right for which the record date is
prior to the date of issuance, except as provided in Section 15 of the Plan.

 

5. Tax
Consultation. Purchaser understands that Purchaser may suffer adverse tax consequences as a result of Purchaser’s purchase or
disposition of the Shares. Purchaser represents that Purchaser has consulted with any tax consultants Purchaser deems advisable in connection
with the purchase or disposition of the Shares and that Purchaser is not relying on the Company for any tax advice.

 

6. Entire
Agreement; Governing Law. The Plan and Award Agreement are incorporated herein by reference. This Exercise Notice, the Plan and the
Award Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety
all prior undertakings and agreements of the Company and Purchaser with respect to the subject matter hereof, and may not be modified
adversely to the Purchaser’s interest except by means of a writing signed by the Company and Purchaser. This agreement is governed
by the internal substantive laws, but not the choice of law rules, of the State of Delaware.

 

	
    Submitted by:
	 	Accepted by:
	 	 	 
	PURCHASER:	 	MOMENTUS INC.
	 	 	 
	 	 	 
	Signature	 	By
	 	 	 
	 	 	 
	Print Name	 	Title
	 	 	 
	 	 	 
	 	 	Date Received

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