Document:

Exhibit 4.10

 

THE REGISTERED HOLDER OF THIS PURCHASE
OPTION BY ITS ACCEPTANCE HEREOF AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE OPTION EXCEPT AS HEREIN PROVIDED
AND THE REGISTERED HOLDER OF THIS PURCHASE OPTION AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE
OPTION OR CAUSE IT TO BE THE SUBJECT OF ANY HEDGING, SHORT SALE, DERIVATIVE, PUT, OR CALL TRANSACTION THAT WOULD RESULT IN THE
EFFECTIVE ECONOMIC DISPOSITION OF THE PURCHASE OPTION BY ANY PERSON FOR A PERIOD OF ONE HUNDRED EIGHTY DAYS FOLLOWING THE EFFECTIVE
DATE (AS DEFINED HEREIN) TO ANYONE OTHER THAN TO (I) CHARDAN CAPITAL MARKETS, LLC (“CHARDAN”), I-BANKERS
SECURITIES, INC. (“I-BANKERS”), OR AN OTHER UNDERWRITER OR SELECTED DEALER PARTICIPATING IN THE OFFERING
OR (II) AN OFFICER OR PARTNER OF CHARDAN, I-BANKERS, OR OF ANY SUCH UNDERWRITER OR SELECTED DEALER AND IN ACCORDANCE WITH FINRA
RULE 5110(G)(2).

 

THIS PURCHASE OPTION IS NOT EXERCISABLE
PRIOR TO THE LATER OF THE CONSUMMATION BY EDTECHX HOLDINGS ACQUISITION CORP. (“COMPANY”) OF A MERGER,
SHARE EXCHANGE, ASSET ACQUISITION, RECAPITALIZATION, REORGANIZATION OR OTHER SIMILAR BUSINESS COMBINATION (“BUSINESS
COMBINATION”) (AS DESCRIBED MORE FULLY IN THE COMPANY’S REGISTRATION STATEMENT (DEFINED HEREIN)) AND APRIL
3, 2019. VOID AFTER 5:00 P.M. NEW YORK CITY LOCAL TIME, ON THE EARLIER OF THE LIQUIDATION OF THE COMPANY’S TRUST ACCOUNT
(AS DESCRIBED IN THE REGISTRATION STATEMENT) IF THE COMPANY HAS NOT COMPLETED A BUSINESS COMBINATION WITHIN THE REQUIRED TIME PERIODS
OR OCTOBER 5, 2023.

 

UNIT PURCHASE OPTION

FOR THE PURCHASE OF

125,000 UNITS

OF

EDTECHX HOLDINGS ACQUISITION CORP.

 

1. 
Purchase Option.

 

THIS CERTIFIES THAT, in consideration of
$100.00 duly paid by or on behalf of I-Bankers Securities, Inc. (“Holder”), as registered owner of
this Purchase Option, to EdtechX Holdings Acquisition Corp. (“Company”), Holder is entitled, at any time
or from time to time upon the later of the consummation of a Business Combination or April 3, 2019 (“Commencement Date”),
and at or before 5:00 p.m., New York City local time, on the earlier of the liquidation of the Company’s Trust Account (as
described in the Company’s registration statement (“Registration Statement”) pursuant to which
Units are offered for sale to the public in the Company’s initial public offering (“Offering”))
in the event the Company has not completed a Business Combination within the required time periods and October 5, 2023, five years
from the effective date (“Effective Date”) of the Registration Statement (“Expiration Date”),
but not thereafter, to subscribe for, purchase and receive, in whole or in part, up to 125,000 units (“Units”)
of the Company, each Unit consisting of one (1) share of the Company’s common stock, par value $0.0001 per share (“Share(s)”)
and one- redeemable warrant (“Warrant(s)”), each Warrant entitling the holder thereof to purchase one
Share. Each Warrant is the same as the warrant included in the Units being registered for sale to the public by way of the Registration
Statement (the “Public Warrants”). If the Expiration Date is a day on which banking institutions are
authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance
with the terms herein. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate
the Purchase Option. This Purchase Option is initially exercisable at $12.00 per Unit so purchased; provided,
however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this
Purchase Option, including the exercise price per Unit and the number of Units (and Shares and Warrants) to be received upon such
exercise, shall be adjusted as therein specified. The term “Exercise Price” shall mean the initial exercise
price or the adjusted exercise price, depending on the context.

 

     

     

    

 

2. 
Exercise OF PUrchase option.

 

2.1 
Exercise Form. In order to exercise this Purchase Option, the exercise form attached hereto must be duly executed and completed
and delivered to the Company, together with this Purchase Option and payment of the Exercise Price for the Units being purchased
payable in cash or by certified check or official bank check. If the subscription rights represented hereby shall not be exercised
at or before 5:00 p.m., New York City local time, on the Expiration Date, this Purchase Option shall become and be void without
further force or effect, and all rights represented hereby shall cease and expire.

 

2.2 
Legend. Each certificate for the securities purchased under this Purchase Option shall bear a legend as follows, unless
such securities have been registered under the Securities Act of 1933, as amended (“Act”):

 

“The securities represented by
this certificate have not been registered under the Securities Act of 1933, as amended (“Act”) or applicable state
law. The securities may not be offered for sale, sold or otherwise transferred except pursuant to an effective registration statement
under the Act, or pursuant to an exemption from registration under the Act and applicable state law.”

 

2.3 
Cashless Exercise.

 

2.3.1 
Determination of Amount. In lieu of the payment of the Exercise Price multiplied by the number of Units for which this Purchase
Option is exercisable (and in lieu of being entitled to receive Shares and Warrants) in the manner required by Section 2.1,
and subject to Section 6.1 hereof, the Holder shall have the right (but not the obligation) to convert any exercisable but
unexercised portion of this Purchase Option into Units (“Cashless Exercise Right”) as follows: upon exercise
of the Cashless Exercise Right, the Company shall deliver to the Holder (without payment by the Holder of any of the Exercise Price
in cash) that number of Units (or at the Holder’s option that number of Shares and Warrants comprising that number of Units)
equal to the number of Units to be exercised multiplied by the quotient obtained by dividing (x) the “Value” (as defined
below) of the portion of the Purchase Option being converted by (y) the Current Market Value (as defined below). The “Value”
of the portion of the Purchase Option being converted shall equal the remainder derived from subtracting (a) (i) the Exercise Price
multiplied by (ii) the number of Units underlying the portion of this Purchase Option being converted from (b) the Current Market
Value of a Unit multiplied by the number of Units underlying the portion of the Purchase Option being converted. As used herein,
the term “Current Market Value” per Unit at any date means: (A) in the event that the Units, Shares and
Public Warrants are still trading, (i) if the Units are listed on a national securities exchange or quoted on the OTC Bulletin
Board (or successor exchange), the average reported last sale price of the Units in the principal trading market for the Units
as reported by the exchange, Nasdaq or the Financial Industry Regulatory Authority (“FINRA”), as the
case may be, for the three trading days preceding the date in question; or (ii) if the Units are not listed on a national securities
exchange or quoted on the OTC Bulletin Board (or successor exchange), but is traded in the residual over-the-counter market, the
average reported last sale price for Units for the three trading days preceding the date in question for which such quotations
are reported by the Pink Sheets, LLC or similar publisher of such quotations; (B) in the event that the Units are not still trading
but the Shares and Public Warrants underlying the Units are still trading, the aggregate of (i) the product of (x) the Current
Market Price of the Shares and (y) the number of the Shares underlying one Unit, plus (ii) the product of (x) the Current Market
Price of the Public Warrants and (y) the number of Warrants included in one Unit; or (C) in the event that neither the Units nor
the Public Warrants are still trading, the aggregate of (i) the product of (x) the Current Market Price of the Shares and (y) the
number of the Shares underlying one Unit, plus (ii) the remainder derived from subtracting (x) the exercise price of the Warrants
multiplied by the number of Shares issuable upon exercise of the Warrants underlying one Unit from (y) the product of (aa) the
Current Market Price of the Shares multiplied by (bb) the number of Shares underlying the Warrants included in each such Unit.
The “Current Market Price” shall mean (i) if the Shares (or Public Warrants, as the case may be) are
listed on a national securities exchange or quoted on the OTC Bulletin Board (or successor exchange), the average reported last
sale price of the Shares (or Public Warrants) in the principal trading market for the Share (or Public Warrants) as reported by
the exchange, Nasdaq or FINRA, as the case may be, for the three trading days preceding the date in question; (ii) if the Shares
(or Public Warrants) are not listed on a national securities exchange or quoted on the OTC Bulletin Board (or successor exchange),
but are traded in the residual over-the-counter market, the average reported last sale price for the Shares (or Public Warrants)
for the three (3) trading days preceding the date in question for which such quotations are reported by the Pink Sheets, LLC or
similar publisher of such quotations; and (iii) if the fair market value of the Shares cannot be determined pursuant to clause
(i) or (ii) above, such price as the Board of Directors of the Company shall determine, in good faith. In the event the Public
Warrants have expired and are no longer exercisable, no “Value” shall be attributed to Warrants underlying this Purchase
Options.

 

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2.3.2 
Mechanics of Cashless Exercise. The Cashless Exercise Right may be exercised by the Holder on any business day on or after
the Commencement Date and not later than the Expiration Date by delivering the Purchase Option with the duly executed exercise
form attached hereto with the cashless exercise section completed to the Company, exercising the Cashless Exercise Right and specifying
the total number of Units (or at Holder’s option that number of Shares and Warrants comprising that number of Units) the
Holder will purchase pursuant to such Cashless Exercise Right.

 

2.4 
No Obligation to Net Cash Settle. Notwithstanding anything to the contrary contained in this Purchase Option, in no event
will the Company be required to net cash settle the exercise of the Purchase Option or Warrants underlying the Purchase Option.
The holder of the Purchase Option and Warrants underlying the Purchase Option will not be entitled to exercise the Purchase Option
or the Warrants underlying such Purchase Option unless it exercises such Purchase Option pursuant to the Cashless Exercise Right
or a registration statement is effective, or an exemption from the registration requirements is available at such time and, if
the holder is not able to exercise the Purchase Option or underlying Warrants, the Purchase Option and/or the underlying Warrants,
as applicable, will expire worthless.

 

3. 
Transfer of purchase option.

 

3.1 
General Restrictions. The registered Holder of this Purchase Option, by its acceptance hereof, agrees that it will not sell,
transfer, assign, pledge or hypothecate this Purchase Option (or the Shares and Warrants underlying this Purchase Option), or cause
the Purchase Option (or the Shares and Warrants underlying this Purchase Option) to be the subject of any hedging, short sale,
derivative, put, or call transaction that would result in the effective economic disposition of the Purchase Option by any person,
for a period of 180 days (pursuant to Rule 5110(g)(1) of the Conduct Rules of FINRA) following the Effective Date to anyone other
than (i) Chardan, I-Bankers or any other underwriter or selected dealer in connection with the Offering, or (ii) a bona fide officer
or partner of Chardan, I-Bankers or of any such underwriter or selected dealer. On and after the 181st day following the Effective
Date, transfers to others may be made subject to compliance with or exemptions from applicable securities laws. In order to make
any permitted assignment, the Holder must deliver to the Company the assignment form attached hereto duly executed and completed,
together with the Purchase Option and payment of all transfer taxes, if any, payable in connection therewith. The Company shall
within 2 business days transfer this Purchase Option on the books of the Company and shall execute and deliver a new Purchase Option
of like tenor to the appropriate assignee(s) expressly evidencing the right to purchase the aggregate number of Units purchasable
hereunder or such portion of such number as shall be contemplated by any such assignment.

 

3.2 
Restrictions Imposed by the Act. The securities evidenced by this Purchase Option shall not be transferred unless and until
(i) the Company has received the opinion of counsel for the Holder that the securities may be transferred pursuant to an exemption
from registration under the Act and applicable state securities laws, the availability of which is established to the reasonable
satisfaction of the Company (the Company hereby agreeing that the opinion of Schiff Hardin LLP shall be deemed satisfactory evidence
of the availability of an exemption), or (ii) a registration statement or a post-effective amendment to the Registration Statement
relating to such securities has been filed by the Company and declared effective by the Securities and Exchange Commission (the
“Commission”) and compliance with applicable state securities law has been established.

 

4. 
New Purchase Option to be Issued.

 

4.1 
Partial Exercise or Transfer. Subject to the restrictions in Section 3 hereof, this Purchase Option may be exercised
or assigned in whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase
Option for cancellation, together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price
(except to the extent that the Holder elects to purchase this Purchase Option by means of a cashless exercise as provided in Section
2.3 above) and/or transfer tax, the Company shall cause to be delivered to the Holder without charge a new Purchase Option of like
tenor to this Purchase Option in the name of the Holder evidencing the right of the Holder to purchase the number of Units purchasable
hereunder as to which this Purchase Option has not been exercised or assigned

 

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4.2 
Lost Certificate. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation
of this Purchase Option and of reasonably satisfactory indemnification (without the requirement for posting of a bond), the Company
shall execute and deliver a new Purchase Option of like tenor and date. Any such new Purchase Option executed and delivered as
a result of such loss, theft, mutilation or destruction shall constitute a substitute contractual obligation on the part of the
Company.

 

5. 
REGISTRATION RIGHTS.

 

5.1 
Demand Registration.

 

5.1.1 
Grant of Right. The Company, upon written demand (“Initial Demand Notice”) of the Holder(s) of
at least 51% of the Purchase Option and/or the underlying Units and/or the underlying securities (“Majority Holders”),
agrees to use its best efforts to register (the “Demand Registration”) under the Act on one occasion,
all or any portion of the Purchase Option requested by the Majority Holders in the Initial Demand Notice and all of the securities
underlying such Purchase Option, including the Units, Shares, Warrants and the Shares underlying the Warrants (collectively, the
“Registrable Securities”). On such occasion, the Company will use its best efforts to file a registration
statement or a post-effective amendment to the Registration Statement covering the Registrable Securities as expeditiously as possible
after receipt of the Initial Demand Notice and use its best efforts to have such registration statement or post-effective amendment
declared effective as soon as possible thereafter. The demand for registration may be made at any time during a period of four
and one-half years beginning 180 days after the Effective Date. The Initial Demand Notice shall specify the number of shares of
Registrable Securities proposed to be sold and the intended method(s) of distribution thereof. The Company will notify all holders
of the Purchase Option and/or Registrable Securities of the demand within ten days from the date of the receipt of any such Initial
Demand Notice. Each holder of Registrable Securities who wishes to include all or a portion of such holder’s Registrable
Securities in the Demand Registration (each such holder including shares of Registrable Securities in such registration, a “Demanding
Holder”) shall so notify the Company within fifteen (15) days after the receipt by the holder of the notice from
the Company. Upon any such request, the Demanding Holders shall be entitled to have their Registrable Securities included in the
Demand Registration, subject to Section 5.1.4. The Company shall not be required to effect more than one (1) Demand Registration
under this Section 5.1 in respect of all Registrable Securities.

 

5.1.2 
Effective Registration. Notwithstanding Section 5.1.5, a registration will not count as a Demand Registration until
the registration statement filed with the Commission, with respect to such Demand Registration, has been declared effective and
the Company has complied with all of its obligations under this Purchase Option with respect thereto.

 

5.1.3 
Underwritten Offering. If the Majority Holders so elect and such holders so advise the Company as part of the Initial Demand
Notice, the offering of such Registrable Securities pursuant to such Demand Registration shall be in the form of an underwritten
offering. In such event, the right of any holder to include its Registrable Securities in such registration shall be conditioned
upon such holder’s participation in such underwriting and the inclusion of such holder’s Registrable Securities in
the underwriting to the extent provided herein. All Demanding Holders proposing to distribute their securities through such underwriting
shall enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting
by the Majority Holders.

 

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5.1.4 
Reduction of Offering. If the managing underwriter or underwriters for a Demand Registration that is to be an underwritten
offering advises the Company and the Demanding Holders in writing that the dollar amount or number of shares of Registrable Securities
which the Demanding Holders desire to sell, taken together with all other Shares or other securities which the Company desires
to sell and the Shares, if any, as to which registration has been requested pursuant to written contractual piggy-back registration
rights held by other shareholders of the Company who desire to sell, exceeds the maximum dollar amount or maximum number of shares
that can be sold in such offering without adversely affecting the proposed offering price, the timing, the distribution method,
or the probability of success of such offering (such maximum dollar amount or maximum number of shares, as applicable, the “Maximum
Number of Shares”), then the Company shall include in such registration: (i) first, the Registrable Securities as
to which Demand Registration has been requested by the Demanding Holders (pro rata in accordance with the number of shares that
each such person has requested be included in such registration, regardless of the number of shares held by each such person (such
proportion is referred to herein as “Pro Rata”)) that can be sold without exceeding the Maximum Number
of Shares; (ii) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing clause (i), the
Shares or other securities that the Company desires to sell that can be sold without exceeding the Maximum Number of Shares; (iii)
third, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i) and (ii), the Shares
or other securities registrable pursuant to the terms of the Registration Rights Agreement between the Company and the initial
investors in the Company (including Chardan and I-Bankers), dated as of October 5, 2018 (the “Registration Rights Agreement”
and such registrable securities, the “Investor Securities”) as to which “piggy-back” registration
has been requested by the holders thereof, Pro Rata, that can be sold without exceeding the Maximum Number of Shares; and (iv)
fourth, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i), (ii), and (iii),
the Shares or other securities for the account of other persons that the Company is obligated to register pursuant to written contractual
arrangements with such persons and that can be sold without exceeding the Maximum Number of Shares.

 

5.1.5 
Withdrawal. If a majority-in-interest of the Demanding Holders disapprove of the terms of any underwriting or are not entitled
to include all of their Registrable Securities in any offering, such majority-in-interest of the Demanding Holders may elect to
withdraw from such offering by giving written notice to the Company and the underwriter or underwriters of their request to withdraw
prior to the effectiveness of the registration statement filed with the Commission with respect to such Demand Registration. If
the majority-in-interest of the Demanding Holders withdraws from a proposed offering relating to a Demand Registration, then the
Company does not have to continue its obligations under Section 5.1, provided that, any such withdrawal will not
count as the Demand Registration if the Demanding Holders pay all of the Company’s out-of-pocket expenses, with respect to
such withdrawn registration.

 

5.1.6 
Terms. The Company shall bear all fees and expenses attendant to registering the Registrable Securities, including the expenses
of one legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities, but the
Holders shall pay any and all underwriting commissions. The Company agrees to use its reasonable best efforts to qualify or register
the Registrable Securities in such states as are reasonably requested by the Majority Holder(s); provided, however,
that in no event shall the Company be required to register the Registrable Securities in a state in which such registration would
cause (i) the Company to be obligated to qualify to do business in such state, or would subject the Company to taxation as a foreign
corporation doing business in such jurisdiction or (ii) the principal shareholders of the Company to be obligated to escrow their
shares of capital stock of the Company. The Company shall use its best efforts to cause any registration statement or post-effective
amendment filed pursuant to the demand rights granted under Section 5.1.1 to remain effective for a period of nine consecutive
months from the effective date of such registration statement or post-effective amendment.

 

5.2 
Piggy-Back Registration.

 

5.2.1 
Piggy-Back Rights. If at any time during the seven year period commencing on the Effective Date the Company proposes to
file a registration statement under the Act with respect to an offering of equity securities, or securities or other obligations
exercisable or exchangeable for, or convertible into, equity securities, by the Company for its own account or for shareholders
of the Company for their account (or by the Company and by shareholders of the Company including, without limitation, pursuant
to Section 5.1), other than a registration statement (i) filed in connection with any employee stock option or other benefit
plan, (ii) for an exchange offer or offering of securities solely to the Company’s existing shareholders, (iii) for an offering
of debt that is convertible into equity securities of the Company or (iv) for a dividend reinvestment plan, then the Company shall
(x) give written notice of such proposed filing to the holders of Registrable Securities as soon as practicable but in no event
less than ten (10) days before the anticipated filing date, which notice shall describe the amount and type of securities to be
included in such offering, the intended method(s) of distribution, and the name of the proposed managing underwriter or underwriters,
if any, of the offering, and (y) offer to the holders of Registrable Securities in such notice the opportunity to register the
sale of such number of shares of Registrable Securities as such holders may request in writing within five (5) days following receipt
of such notice (a “Piggy-Back Registration”). The Company shall cause such Registrable Securities to
be included in such registration and shall use its best efforts to cause the managing underwriter or underwriters of a proposed
underwritten offering to permit the Registrable Securities requested to be included in a Piggy-Back Registration on the same terms
and conditions as any similar securities of the Company and to permit the sale or other disposition of such Registrable Securities
in accordance with the intended method(s) of distribution thereof. All holders of Registrable Securities proposing to distribute
their securities through a Piggy-Back Registration that involves an underwriter or underwriters shall enter into an underwriting
agreement in customary form with the underwriter or underwriters selected for such Piggy-Back Registration

 

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5.2.2 
Reduction of Offering. If the managing underwriter or underwriters for a Piggy-Back Registration that is to be an underwritten
offering advises the Company and the holders of Registrable Securities in writing that the dollar amount or number of Shares which
the Company desires to sell, taken together with Shares, if any, as to which registration has been demanded pursuant to written
contractual arrangements with persons other than the holders of Registrable Securities hereunder, the Registrable Securities as
to which registration has been requested under this Section 5.2, and the Shares, if any, as to which registration has been
requested pursuant to the written contractual piggy-back registration rights of other shareholders of the Company, exceeds the
Maximum Number of Shares, then the Company shall include in any such registration:

 

(a) If
the registration is undertaken for the Company’s account: (A) first, Shares or other securities that the Company desires
to sell that can be sold without exceeding the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares
has not been reached under the foregoing clause (A), the Shares or other securities, if any, comprised of Registrable Securities
and Investor Securities, as to which registration has been requested pursuant to the applicable written contractual piggy-back
registration rights of such security holders, Pro Rata, that can be sold without exceeding the Maximum Number of Shares; and (C)
third, to the extent that the Maximum Number of shares has not been reached under the foregoing clauses (A) and (B), the Shares
or other securities for the account of other persons that the Company is obligated to register pursuant to written contractual
piggy-back registration rights with such persons and that can be sold without exceeding the Maximum Number of Shares;

 

(b) If
the registration is a “demand” registration undertaken at the demand of holders of Investor Securities, (A) first,
the Shares or other securities for the account of the demanding persons, Pro Rata, that can be sold without exceeding the Maximum
Number of Shares; (B) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing clause (A),
the Shares or other securities that the Company desires to sell that can be sold without exceeding the Maximum Number of Shares;
(C) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (A) and (B), the shares
of Registrable Securities, Pro Rata, as to which registration has been requested pursuant to the terms hereof, that can be sold
without exceeding the Maximum Number of Shares; and (D) fourth, to the extent that the Maximum Number of Shares has not been reached
under the foregoing clauses (A), (B) and (C), the Shares or other securities for the account of other persons that the Company
is obligated to register pursuant to written contractual arrangements with such persons, that can be sold without exceeding the
Maximum Number of Shares; and

 

(c) If
the registration is a “demand” registration undertaken at the demand of persons other than either the holders of Registrable
Securities or of Investor Securities, (A) first, the Shares or other securities for the account of the demanding persons that can
be sold without exceeding the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares has not been
reached under the foregoing clause (A), the Shares or other securities that the Company desires to sell that can be sold without
exceeding the Maximum Number of Shares; (C) third, to the extent that the Maximum Number of Shares has not been reached under the
foregoing clauses (A) and (B), collectively the Shares or other securities comprised of Registrable Securities and Investor Securities,
Pro Rata, as to which registration has been requested pursuant to the terms hereof and of the Registration Rights Agreement, as
applicable, that can be sold without exceeding the Maximum Number of Shares; and (D) fourth, to the extent that the Maximum Number
of Shares has not been reached under the foregoing clauses (A), (B) and (C), the Shares or other securities for the account of
other persons that the Company is obligated to register pursuant to written contractual arrangements with such persons, that can
be sold without exceeding the Maximum Number of Shares.

 

5.2.3 
Withdrawal. Any holder of Registrable Securities may elect to withdraw such holder’s request for inclusion of Registrable
Securities in any Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior to the effectiveness
of the registration statement. The Company (whether on its own determination or as the result of a withdrawal by persons making
a demand pursuant to written contractual obligations) may withdraw a registration statement at any time prior to the effectiveness
of the registration statement. Notwithstanding any such withdrawal, the Company shall pay all expenses incurred by the holders
of Registrable Securities in connection with such Piggy-Back Registration as provided in Section 5.2.4.

 

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5.2.4 
Terms. The Company shall bear all fees and expenses attendant to registering the Registrable Securities, including the expenses
of one legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities but the
Holders shall pay any and all underwriting commissions related to the Registrable Securities. In the event of such a proposed registration,
the Company shall furnish the then Holders of outstanding Registrable Securities with not less than fifteen days written notice
prior to the proposed date of filing of such registration statement. Such notice to the Holders shall continue to be given for
each applicable registration statement filed (during the period in which the Purchase Option is exercisable) by the Company until
such time as all of the Registrable Securities have been registered and sold. The Holders of the Registrable Securities shall exercise
the “piggy-back” rights provided for herein by giving written notice within ten days of the receipt of the Company’s
notice of its intention to file a registration statement. The Company shall use its best efforts to cause any registration statement
filed pursuant to the above “piggyback” rights to remain effective for at least nine months from the date that the
Holders of the Registrable Securities are first given the opportunity to sell all of such securities.

 

5.3 
General Terms.

 

5.3.1 
Indemnification. The Company shall, to the fullest extent permitted by applicable law, indemnify the Holder(s) of the Registrable
Securities to be sold pursuant to any registration statement hereunder and each person, if any, who controls such Holders within
the meaning of Section 15 of the Act or Section 20(a) of the Securities Exchange Act of 1934, as amended (“Exchange
Act”), against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and
other expenses reasonably incurred in investigating, preparing or defending against litigation, commenced or threatened, or any
claim whatsoever whether arising out of any action between the underwriter and the Company or between the underwriter and any third
party or otherwise) to which any of them may become subject under the Act, the Exchange Act or otherwise, arising from such registration
statement but only to the same extent and with the same effect as the provisions pursuant to which the Company has agreed to indemnify
the underwriters contained in Section 5 of the Underwriting Agreement between the Company, Chardan and the other underwriters named
therein dated the Effective Date (“Underwriting Agreement”). The Holder(s) of the Registrable Securities
to be sold pursuant to such registration statement, and their successors and assigns, shall severally, and not jointly, indemnify
the Company, its officers and directors and each person, if any, who controls the Company within the meaning of Section 15 of the
Act or Section 20(a) of the Exchange Act, against all loss, claim, damage, expense or liability (including all reasonable attorneys’
fees and other expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which they
may become subject under the Act, the Exchange Act or otherwise, arising from information furnished by or on behalf of such Holders,
or their successors or assigns for specific inclusion in such registration statement or arising from any omission or the alleged
omission to state a material fact required to be stated therein or necessary to make the statement contained therein not misleading
in connection with the registration of the Registrable Securities, to the same extent and with the same effect as the provisions
contained in Section 5 of the Underwriting Agreement pursuant to which the underwriters have agreed to indemnify the Company.

 

5.3.2 
Exercise of Purchase Option. Nothing contained in this Purchase Option shall be construed as requiring the Holder(s) to
exercise their Purchase Option or Warrants underlying such Purchase Option prior to or after the initial filing of any registration
statement or the effectiveness thereof.

 

    7

     

    

 

5.3.3 
Documents Delivered to Holders. The Company shall furnish Chardan, for as long as it is a Holder, as representative of the
Holders participating in any of the foregoing offerings, a signed counterpart, addressed to the participating Holders, of (i) an
opinion of counsel to the Company, dated the effective date of such registration statement (and, if such registration includes
an underwritten public offering, an opinion dated the date of the closing under any underwriting agreement related thereto), and
(ii) if such registration statement is filed in connection with an underwritten public offering, a “cold comfort” letter
dated the effective date of such registration statement (and, if such registration includes an underwritten public offering, a
letter dated the date of the closing under the underwriting agreement) signed by the independent public accountants who have issued
a report on the Company’s financial statements included in such registration statement, in each case covering substantially
the same matters with respect to such registration statement (and the prospectus included therein) and, in the case of such accountants’
letter, with respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of issuer’s
counsel and in accountants’ letters delivered to underwriters in underwritten public offerings of securities. The Company
shall also deliver promptly to Chardan, as representative of the Holders participating in the offering, the correspondence and
memoranda described below and copies of all correspondence between the Commission and the Company, its counsel or auditors and
all memoranda relating to discussions with the Commission or its staff with respect to the registration statement and permit Chardan,
as representative of the Holders, to do such investigation, upon reasonable advance notice, with respect to information contained
in or omitted from the registration statement as it deems reasonably necessary to comply with applicable securities laws or rules
of FINRA. Such investigation shall include access to books, records and properties and opportunities to discuss the business of
the Company with its officers and independent auditors, all to such reasonable extent and at such reasonable times and as often
as Chardan, as representative of the Holders, shall reasonably request. The Company shall not be required to disclose any confidential
information or other records to Chardan, as representative of the Holders, or to any other person, until and unless such persons
shall have entered into reasonable confidentiality agreements (in form and substance reasonably satisfactory to the Company), with
the Company with respect thereto.

 

5.3.4 
Underwriting Agreement. The Company shall enter into an underwriting agreement with the managing underwriter(s), if any,
selected by any Holders whose Registrable Securities are being registered pursuant to this Section 5, which managing underwriter
shall be reasonably acceptable to the Company. Such agreement shall be reasonably satisfactory in form and substance to the Company,
each Holder and such managing underwriters, and shall contain such representations, warranties and covenants by the Company and
such other terms as are customarily contained in agreements of that type used by the managing underwriter. The Holders shall be
parties to any underwriting agreement relating to an underwritten sale of their Registrable Securities and may, at their option,
require that any or all the representations, warranties and covenants of the Company to or for the benefit of such underwriters
shall also be made to and for the benefit of such Holders. Such Holders shall not be required to make any representations or warranties
to or agreements with the Company or the underwriters except as they may relate to such Holders and their intended methods of distribution.
Such Holders, however, shall agree to such covenants and indemnification and contribution obligations for selling shareholders
as are customarily contained in agreements of that type used by the managing underwriter. Further, such Holders shall execute appropriate
custody agreements and otherwise cooperate fully in the preparation of the registration statement and other documents relating
to any offering in which they include securities pursuant to this Section 5. Each Holder shall also furnish to the Company such
information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities
as shall be reasonably required to effect the registration of the Registrable Securities.

 

5.3.5 
Rule 144 Sale. Notwithstanding anything contained in this Section 5 to the contrary, the Company shall have no obligation
pursuant to Sections 5.1 or 5.2 to use its best efforts to obtain the registration of Registrable Securities held
by any Holder where such Holder would then be entitled to sell under Rule 144 within any three-month period (or such other period
prescribed under Rule 144 as may be provided by amendment thereof) all of the Registrable Securities then held by such Holder (assuming
such Holder were an affiliate within the meaning of Rule 144).

 

5.3.6 
Supplemental Prospectus. Each Holder agrees, that upon receipt of any notice from the Company of the happening of any event
as a result of which the prospectus included in the registration statement, as then in effect, includes an untrue statement of
a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not
misleading in light of the circumstances then existing, such Holder will immediately discontinue disposition of Registrable Securities
pursuant to the registration statement covering such Registrable Securities until such Holder’s receipt of the copies of
a supplemental or amended prospectus, and, if so desired by the Company, such Holder shall deliver to the Company (at the expense
of the Company) or destroy (and deliver to the Company a certificate of such destruction) all copies, other than permanent file
copies then in such Holder’s possession, of the prospectus covering such Registrable Securities current at the time of receipt
of such notice.

 

    8

     

    

 

6. 
ADJUSTMENTS.

 

6.1 
Adjustments to Exercise Price and Number of Securities. The Exercise Price and the number of Units underlying the Purchase
Option shall be subject to adjustment from time to time as hereinafter set forth:

 

6.1.1 
Stock Dividends - Split-Ups. If after the date hereof, and subject to the provisions of Section 6.3 below, the number
of outstanding Shares is increased by a stock dividend payable in Shares or by a split-up of Shares or other similar event, then,
on the effective date thereof, the number of Shares underlying each of the Units purchasable hereunder shall be increased in proportion
to such increase in outstanding shares. In such case, the number of Shares, and the exercise price applicable thereto, underlying
the Warrants underlying each of the Units purchasable hereunder shall be adjusted in accordance with the terms of the Warrants.

 

6.1.2 
Aggregation of Shares. If after the date hereof, and subject to the provisions of Section 6.3, the number of outstanding
Shares is decreased by a consolidation, combination or reclassification of Shares or other similar event, then, on the effective
date thereof, the number of Shares underlying each of the Units purchasable hereunder shall be decreased in proportion to such
decrease in outstanding shares and the Exercise Price shall be proportionately increased. In such case, the number of Shares, and
the exercise price applicable thereto, underlying the Warrants underlying each of the Units purchasable hereunder shall be adjusted
in accordance with the terms of the Warrants.

 

6.1.3 
Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding
Shares other than a change covered by Section 6.1.1 or 6.1.2 hereof or that solely affects the par value of such
Shares, or in the case of any merger or consolidation of the Company with or into another company (other than a consolidation or
merger in which the Company is the continuing entity and that does not result in any reclassification or reorganization of the
outstanding Shares), or in the case of any sale or conveyance to another company or entity of the property of the Company as an
entirety or substantially as an entirety in connection with which the Company is dissolved, the Holder of this Purchase Option
shall have the right thereafter (until the expiration of the right of exercise of this Purchase Option) to receive upon the exercise
hereof, for the same aggregate Exercise Price payable hereunder immediately prior to such event, the kind and amount of shares
or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation,
or upon a dissolution following any such sale or transfer, by a Holder of the number of Shares of the Company obtainable upon exercise
of this Purchase Option and the underlying Warrants immediately prior to such event; and if any reclassification also results in
a change in Shares covered by Section 6.1.1 or 6.1.2, then such adjustment shall be made pursuant to Sections
6.1.1, 6.1.2 and this Section 6.1.3. The provisions of this Section 6.1.3 shall similarly apply to successive
reclassifications, reorganizations, mergers or consolidations, sales or other transfers.

 

6.1.4 
Changes in Form of Purchase Option. This form of Purchase Option need not be changed because of any change pursuant to this
Section, and a Purchase Option issued after such change may state the same Exercise Price and the same number of Units as are stated
in the Purchase Option as initially issued. The acceptance by any Holder of the issuance of a new Purchase Option reflecting a
required or permissive change shall not be deemed to waive any rights to an adjustment occurring after the Commencement Date or
the computation thereof.

 

6.2 
Substitute Purchase Option. In case of any consolidation of the Company with, or merger of the Company with, or merger of
the Company into, another entity (other than a consolidation or merger which does not result in any reclassification or change
of the outstanding Shares), the entity formed by such consolidation or merger shall execute and deliver to the Holder a supplemental
Purchase Option providing that the holder of each Purchase Option then outstanding or to be outstanding shall have the right thereafter
(until the stated expiration of such Purchase Option) to receive, upon exercise of such Purchase Option, the kind and amount of
shares and other securities and property receivable upon such consolidation or merger, by a holder of the number of Shares of the
Company for which such Purchase Option might have been exercised immediately prior to such consolidation, merger, sale or transfer.
Such supplemental Purchase Option shall provide for adjustments which shall be identical to the adjustments provided in Section
6. The above provision of this Section shall similarly apply to successive consolidations or mergers.

 

    9

     

    

 

6.3 
Elimination of Fractional Interests. The Company shall not be required to issue certificates representing fractions of Shares
or Warrants upon the exercise of the Purchase Option, nor shall it be required to issue scrip or pay cash in lieu of any fractional
interests, it being the intent of the parties that all fractional interests shall be eliminated by rounding any fraction up or
down to the nearest whole number of Warrants, Shares or other securities, properties or rights.

 

7. 
RESERVATION AND LISTING. The Company shall at all times reserve and keep
available out of its authorized but unissued Shares, solely for the purpose of issuance upon exercise of the Purchase Option or
the Warrants, such number of Shares or other securities, properties or rights as shall be issuable upon the exercise thereof. The
Company covenants and agrees that, upon exercise of the Purchase Option and payment of the Exercise Price therefor, all Shares
and other securities issuable upon such exercise shall be duly and validly issued, fully paid and non-assessable and not subject
to preemptive rights of any shareholder. The Company further covenants and agrees that upon exercise of the Warrants underlying
the Purchase Option and payment of the respective Warrant exercise price therefor, all Shares and other securities issuable upon
such exercise shall be duly and validly issued, fully paid and non-assessable and not subject to preemptive rights of any shareholders.
As long as the Purchase Option shall be outstanding, the Company shall use its best efforts to cause all (i) Units and Shares issuable
upon exercise of the Purchase Option, (ii) Warrants issuable upon exercise of the Purchase Option and (iii) Shares issuable upon
exercise of the Warrants included in the Units issuable upon exercise of the Purchase Option, to be listed and/or quoted (subject
to official notice of issuance) on all securities exchanges (or, if applicable, on the OTC Bulletin Board or OTC Markets Group,
Inc. or any successor trading market) on which the Shares or the Public Warrants may then be listed and/or quoted.

 

8. 
CERTAIN NOTICE REQUIREMENTS.

 

8.1 
Holder’s Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote
or consent as a shareholders for the election of directors or any other matter, or as having any rights whatsoever as a shareholders
of the Company. If, however, at any time prior to the expiration of the Purchase Option and its exercise, any of the events described
in Section 8.2 shall occur, then, in each such event, the Company shall give written notice of such event at least fifteen
days prior to the date fixed as a record date or the date of closing the transfer books for the determination of the shareholders
entitled to such dividend, distribution, conversion or exchange of securities or subscription rights, or entitled to vote on such
proposed dissolution, liquidation, winding up or sale. Such notice shall specify such record date or the date of the closing of
the transfer books, as the case may be. Notwithstanding the foregoing, the Company shall deliver to each Holder a copy of each
notice given to the other shareholders of the Company at the same time and in the same manner that such notice is given to the
shareholders.

 

8.2 
Events Requiring Notice. The Company shall be required to give the notice described in this Section 8 upon one or more of
the following events: (i) if the Company shall take a record of the holders of its Shares for the purpose of entitling them to
receive a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out
of retained earnings, as indicated by the accounting treatment of such dividend or distribution on the books of the Company, or
(ii) the Company shall offer to all the holders of its Shares any additional shares of capital stock of the Company or securities
convertible into or exchangeable for shares of capital stock of the Company, or any option, right or warrant to subscribe therefor,
or (iii) a dissolution, liquidation or winding up of the Company (other than in connection with a consolidation or merger) or a
sale of all or substantially all of its property, assets and business shall be proposed.

 

8.3 
Notice of Change in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price
pursuant to Section 6 hereof, send notice to the Holders of such event and change (“Price Notice”). The
Price Notice shall describe the event causing the change and the method of calculating same and shall be certified as being true
and accurate by the Company’s Chief Executive Officer.

 

    10

     

    

 

8.4 
Transmittal of Notices. All notices, requests, consents and other communications under this Purchase Option shall be in
writing and shall be deemed to have been duly made when hand delivered, or mailed by express mail or private courier service: (i)
if to the registered Holder of the Purchase Option, to the address of such Holder as shown on the books of the Company, or (ii)
if to the Company, to the following address or to such other address as the Company may designate by notice to the Holders:

 

EdtechX Holdings Acquisition
Corp.

c/o IBIS Capital Limited

22 Soho Square

London, W1D 4NS

United Kingdom

Telephone: +44 207 070 7080

Attn: Benjamin Vedrenne-Cloquet,
Chief Executive Officer

 

9. 
MISCELLANEOUS.

 

9.1 
Amendment The Company and Chardan, for as long as it is a Holder, may from time to time supplement or amend this Purchase
Option without the approval of any of the Holders in order to cure any ambiguity, to correct or supplement any provision contained
herein that may be defective or inconsistent with any other provisions herein, or to make any other provisions in regard to matters
or questions arising hereunder that the Company and Chardan may deem necessary or desirable and that the Company and Chardan deem
shall not adversely affect the interest of the Holders. All other modifications or amendments shall require the written consent
of and be signed by the party against whom enforcement of the modification or amendment is sought.

 

9.2 
Headings. The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit
or affect the meaning or interpretation of any of the terms or provisions of this Purchase Option.

 

9.3 
Entire Agreement. This Purchase Option (together with the other agreements and documents being delivered pursuant to or
in connection with this Purchase Option) constitutes the entire agreement of the parties hereto with respect to the subject matter
hereof, and supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject matter
hereof.

 

9.4 
Binding Effect. This Purchase Option shall inure solely to the benefit of and shall be binding upon the Holder and the Company
and their permitted assignees, respective successors, legal representative and assigns, and no other person shall have or be construed
to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase Option or any provisions
herein contained.

 

9.5 
Governing Law; Submission to Jurisdiction. This Purchase Option shall be governed by and construed and enforced in accordance
with the laws of the State of New York, without giving effect to conflict of laws principles thereof. Each of the Holder and the
Company hereby agrees that any action, proceeding or claim against it arising out of, or relating in any way to this Purchase Option
shall be brought and enforced in the New York Supreme Court, County of New York, or in the United States District Court for the
Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. Each of the
Holder and the Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient
forum. Any process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified
mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 8.4 hereof. Such mailing
shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim. The Company
and the Holder agree that the prevailing party(ies) in any such action shall be entitled to recover from the other party(ies) all
of its reasonable attorneys' fees and expenses relating to such action or proceeding and/or incurred in connection with the preparation
therefore.

 

9.6 
Waiver, Etc. The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase Option
shall not be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Option
or any provision hereof or the right of the Company or any Holder to thereafter enforce each and every provision of this Purchase
Option. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Purchase Option shall be effective
unless set forth in a written instrument executed by the party or parties against whom or which enforcement of such waiver is sought;
and no waiver of any such breach, non-compliance or non- fulfillment shall be construed or deemed to be a waiver of any other or
subsequent breach or non-compliance.

 

    11

     

    

 

9.7 
Execution in Counterparts. This Purchase Option may be executed in one or more counterparts, and by the different parties
hereto in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute
one and the same agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto
and delivered to each of the other parties hereto.

 

9.8 
Exchange Agreement. As a condition of the Holder’s receipt and acceptance of this Purchase Option, Holder agrees that,
at any time prior to the complete exercise of this Purchase Option by Holder, if the Company and Chardan enter into an agreement
(“Exchange Agreement”) pursuant to which they agree that all outstanding Purchase Option’s will
be exchanged for securities or cash or a combination of both, then Holder shall agree to such exchange and become a party to the
Exchange Agreement.

 

[Signature Page Follows]

 

    12

     

    

 

IN WITNESS WHEREOF, the Company has caused
this Purchase Option to be signed by its duly authorized officer as of the 10th day of October, 2018.

 

	 	EdtechX Holdings Acquisition Corp.
	 	 
	 	By:	 
	 	 	/s/ Benjamin Vedrenne-Cloquet
	 	 	Name: 	Benjamin Vedrenne-Cloquet
	 	 	Title: 	Chief Executive Officer

 

    13

     

    

 

Form to be used to exercise Purchase Option

 

EdtechX Holdings Acquisition
Corp.

c/o IBIS Capital Limited

22 Soho Square

London, W1D 4NS

United Kingdom

 

Date:_________________, 20___

 

The undersigned hereby elects irrevocably
to exercise all or a portion of the within Purchase Option and to purchase ____ Units of EdtechX Holdings Acquisition Corp. and
hereby makes payment of $____________ (at the rate of $12.00 per Unit) in payment of the Exercise Price pursuant thereto. Please
issue the securities as to which this Purchase Option is exercised in accordance with the instructions given below.

 

or

 

The undersigned hereby elects irrevocably
to convert its right to purchase _________ Units purchasable under the within Purchase Option by surrender of the unexercised portion
of the attached Purchase Option (with a “Value” based of $_______ based on a “Market Price” of $_______).
Please issue the securities comprising the Units as to which this Purchase Option is exercised in accordance with the instructions
given below.

 

________________________.

 

NOTICE: The signature to this assignment
must correspond with the name as written upon the face of the purchase option in every particular, without alteration or enlargement
or any change whatever.

 

Signature(s) Guaranteed:

 

THE SIGNATURE(S) SHOULD BE GUARANTEED BY
AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

 

INSTRUCTIONS FOR REGISTRATION OF SECURITIES

 

	Name: 	 	 
	 	(Print in Block Letters)	 

 

	Address: 	 	 
	 	 	 
	 	 	 

 

    14

     

    

 

Form to be used to assign Purchase Option

 

ASSIGNMENT

 

(To be executed by the registered Holder
to effect a transfer of the within Purchase Option):

 

FOR VALUE
RECEIVED,______________________________________________ does hereby sell, assign and transfer unto
___________________________________________ the right to purchase __________ Units of EdtechX Holdings Acquisition Corp.
(“Company”) evidenced by the within Purchase Option and does hereby authorize the Company to
transfer such right on the books of the Company.

 

Dated:___________________, 20__

 

	 	 
	 	Signature
	 	 
	 	 
	 	NOTICE: The signature to this assignment must correspond with the name as written upon the face of the purchase option in every particular, without alteration or enlargement or any change whatever.

 

Signature(s) Guaranteed:

	 

THE SIGNATURE(S) SHOULD
BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH
MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

 

 

15Exhibit 10.1

 

METEN EDTECHX EDUCATION GROUP LTD.

 

2020 SHARE INCENTIVE PLAN

 

1. Purposes of the Plan. 
The purposes of this 2020 Share Incentive Plan are to attract and retain the best available personnel for positions of substantial
responsibility, to provide additional incentive to Employees and Consultants, and to promote the success of the Company’s
business.

 

This Plan is adopted by the Company in connection
with the anticipated consummation of the Business Combination and the assumption by the Company pursuant to the Business Combination
of outstanding awards previously granted to employees and other service providers under the Prior Plan (the “Assumed Awards”).

 

This Plan is intended to constitute an amendment
and restatement and continuation of the Prior Plan, such that from and after the assumption of the Assumed Awards by the Company
in the Business Combination, the Assumed Awards shall be deemed granted under and governed by this Plan, it being understood that
the adoption of this Plan is not intended to modify the terms and conditions of any Assumed Awards. In connection with the Business
Combination, the Assumed Awards are being adjusted as required under the terms of the Prior Plan, as set forth in a written notice
provided or to be provided to each applicable Participant, and the terms and conditions of such Assumed Awards shall otherwise
continue to be as set forth in the applicable Award Agreements covering each of the Assumed Awards.

 

In addition to the Assumed Awards, from
and after the time of the Business Combination, the Company intends to use this Plan to grant new Awards to eligible Employees
and Consultants from time to time, subject to and in accordance with the terms and conditions described herein.

 

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

 

(a) “Administrator” means
the Board, a Committee or any delegate of the Board or a Committee, in any case acting in its capacity as administrator of the
Plan, as described in Section 5.

 

(b) “Applicable Laws” means
all applicable laws, rules, regulations and requirements, including, but not limited to, any Share Exchange rules or regulations,
and the applicable laws, rules or regulations of any jurisdiction where Awards are granted under the Plan or Participants
reside or provide services, as such laws, rules, and regulations shall be in effect from time to time.

 

(c) “Assumed Award”
has the meaning set forth in Section 1.

 

(d) “Award” means
any of the following awards authorized for issuance or grant under the Plan: Options, share appreciation rights, Share awards,
restricted share units, dividend equivalents or other Share-based awards.

 

(e) “Award Agreement” means
a written document (which may be in electronic form), the form(s) of which shall be approved from time to time by the Administrator,
reflecting the terms of an Award granted under the Plan and includes any documents attached to or incorporated into such Award
Agreement, including, but not limited to, a notice of grant, purchase agreement, or exercise notice, as applicable. For the avoidance
of doubt, award agreements previously entered into with respect to Assumed Awards shall constitute Award Agreements for all purposes
hereunder.

 

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

 

     

     

    

  

(g) “Business Combination”
means the transactions contemplated by that certain Agreement and Plan of Reorganization dated as of December 12, 2019, by and
among by and among the Company, EdtechX Holdings Acquisition Corp., Meten Education Inc., Meten Education Group Ltd., and Meten
International Education Group, as amended from time to time.

 

(h) “Cause” for
termination of a Participant’s Continuous Service Status will exist (unless another definition is provided in an applicable
Award Agreement, employment agreement or other applicable written agreement) if the Participant’s Continuous Service Status
is terminated for any of the following reasons:  (i) any material breach by Participant of any material written agreement
between Participant and any of the Company, its Parent or Subsidiary, as the case may be, and Participant’s failure to cure
such breach within 30 days after receiving written notice thereof; (ii) any failure by Participant to comply with material
written policies or rules of the Company, its Parent or Subsidiary, as the case may be, as they may be in effect from time
to time; (iii) Participant’s repeated failure to follow reasonable and lawful instructions from the Board or chief executive
officer and Participant’s failure to cure such condition within 30 days after receiving written notice thereof; (iv) Participant’s
conviction of, or plea of guilty or nolo contendere to, any crime that results in, or is reasonably expected to result in, material
harm to the business or reputation of the Company; (v) Participant’s commission of or participation in an act of fraud
against the Company, its Parent or Subsidiary; (vi) Participant’s intentional material damage to the Company’s
business, property or reputation; (vii) Participant’s unauthorized use or disclosure of any proprietary information
or trade secrets of the Company, its Parent or Subsidiary, or any other party to whom the Participant owes an obligation of nondisclosure
as a result of his or her relationship with the Company, its Parent or Subsidiary; or (viii) any breach by Participant of
any non-disclosure undertakings/agreements or non-competition undertakings/agreements between Participant and the Company, its
Parent or Subsidiary.  For purposes of clarity, a termination without “Cause” does not include any termination
that occurs as a result of Participant’s death or disability.  The determination as to whether a Participant’s
Continuous Service Status 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 to terminate a Participant’s
employment, consulting or other service relationship at any time, and the term “Company” will be interpreted to include
any Parent or Subsidiary, or any successor thereto, if appropriate.

 

(i) “Change of Control” means
(unless another definition is provided in an applicable Award Agreement, employment agreement or other applicable written agreement)
any of the following transactions, provided, however, that the Administrator shall determine under (iii) and (iv) whether
multiple transactions are related, and its determination shall be final, binding and conclusive:

 

(i) an amalgamation, arrangement or consolidation
or scheme of arrangement (A) in which the Company is not the surviving entity, and (B) following which the holders of
the voting securities of the Company do not continue to hold more than 50% of the combined voting power of the voting securities
of the surviving entity;

 

(ii) the sale, transfer or other disposition
of all or substantially all of the assets of the Company;

 

(iii) a change in the composition of the
Board over a period of 24 consecutive months or less such that a majority of the Board members ceases to be comprised of individuals
who either (A) have been Board members continuously since the beginning of such period (“Incumbent Directors”)
or (B) have been elected or nominated for election as Board members during such period by at least a majority of the Incumbent
Directors who were still in office at the time the Board approved such election or nomination; provided that any individual who
becomes a Board member subsequent to the beginning of such period and whose election or nomination was approved by two-thirds of
the Board members then comprising the Incumbent Directors will be considered an Incumbent Director;

 

(iv) any reverse takeover or series of related
transactions culminating in a reverse takeover (including, but not limited to, a tender offer followed by a reverse takeover) in
which the Company is the surviving entity but (A) the Company’s equity securities outstanding immediately prior to such
takeover are converted or exchanged by virtue of the takeover into other property, whether in the form of securities, cash or otherwise,
or (B) in which securities possessing more than 50% of the total combined voting power of the Company’s outstanding
securities are transferred to a person or persons different from those who held such securities immediately prior to such takeover
or the initial transaction culminating in such takeover, but excluding any such transaction or series of related transactions that
the Administrator determines shall not be a Change of Control; or

 

    2

     

    

  

(v) acquisition in a single or series of
related transactions by any person or related group of persons (other than the Company or by a Company-sponsored employee benefit
plan) of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities possessing more than 50%
of the total combined voting power of the Company’s outstanding securities but excluding any such transaction or series of
related transactions that the Administrator determines shall not be a Change of Control.

 

(j) “Code” means
the United States Internal Revenue Code of 1986, as amended.

 

(k) “Committee” means
one or more committees or subcommittees of the Board consisting of two or more Directors (or such lesser or greater number of Directors
as shall constitute the minimum number permitted by Applicable Laws to establish a committee or subcommittee of the Board) appointed
by the Board to administer the Plan in accordance with Section 5 below.

 

(l) “Company” means
Meten EdtechX Education Group Ltd., a company incorporated under the laws of the Cayman Islands, and any successor company to all
or substantially all of the assets or voting shares of Meten EdtechX Education Group Ltd..

 

(m) “Consultant” means
any individual consultant or advisor who renders services to the Company, or any Parent or Subsidiary and is compensated for such
services, and any director of the Board, or the board of directors of any Parent or Subsidiary whether compensated for such services
or not.

 

(n) “Continuous Service Status” means
the following:

 

(i) Continuous Service Status shall have
the meaning assigned to such term in the Award Agreement for the particular Award or in any other agreement incorporated by reference
into the Award Agreement for purposes of defining such term.

 

(ii) In the absence of any other definition
of Continuous Service Status in the Award Agreement for a particular Award (or in any other agreement incorporated by reference
into the Award Agreement), Continuous Service Status means the absence of any interruption or termination of service as an
Employee or Consultant.  For purposes of this particular definition of Continuous Service Status, a Participant shall be deemed
to cease Continuous Service Status immediately upon the occurrence of either of the following events:  (A) the Participant
no longer performs services as an Employee or Consultant for the Company or any Parent or Subsidiary or (B) the entity for
which the Participant is performing such services ceases to remain a Parent or Subsidiary of the Company, even though the Participant
may subsequently continue to perform services for that entity.  Continuous Service Status as an Employee or Consultant shall
not be considered interrupted or terminated in the case of:  (A) Company approved sick leave; (B) military leave;
or (C) any other bona fide leave of absence approved by the Company, provided that, if an Employee is holding an Incentive
Share Option and such leave exceeds 3 months then, for purposes of Incentive Share Option status only, such Employee’s service
as an Employee shall be deemed terminated on the 1st day following such 3-month period and the Incentive Share Option shall thereafter
automatically become a Nonstatutory Share 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.  Except
to the extent otherwise required by Applicable Law or expressly authorized by the Administrator or by the Company’s written
policy on leaves of absence, a Participant shall not be deemed to be in Continuous Service Status for vesting purposes for any
period the Participant is on a leave of absence.  Continuous Service Status as an Employee or Consultant shall not be considered
interrupted or terminated in the case of a transfer between locations of the Company or between the Company, its Parents or Subsidiaries,
or their respective successors, or a change in status from an Employee to a Consultant or from a Consultant to an Employee.

 

    3

     

    

   

(o) “Control” means
the power or authority, whether exercised or not, to direct the business, management and policies of a person, directly or indirectly,
or by effective control whether through the ownership of voting securities, by contract or otherwise, which power or authority
shall conclusively be presumed to exist upon possession of beneficial ownership or power to direct the vote of more than 50% of
the votes entitled to be cast at a meeting of the members or shareholders of such person or power to control the composition of
the board of directors of such person; the terms “Controlled” and “Controlling” have the meaning correlative
to the foregoing.

 

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

 

(q) “Disability” means
(unless another definition is provided in an applicable Award Agreement, employment agreement or other applicable written agreement)
that the Participant qualifies to receive long-term disability payments under the Participant’s employer’s long-term
disability insurance program, as it may be amended from time to time, regardless of whether the Participant is covered by such
policy.  If the Participant’s employer does not have a long-term disability plan in place, “Disability”
means that a Participant is unable to carry out the responsibilities and functions of the position held by the Participant by reason
of any medically determinable physical or mental impairment for a period of not less than 90 consecutive days. A Participant
will not be considered to have incurred a Disability unless he or she furnishes proof of such impairment sufficient to satisfy
the Administrator in its discretion.  Notwithstanding the foregoing, with respect to any Incentive Share Option, “Disability”
shall mean “disability” within the meaning of Section 22(e)(3) of the Code.

 

(r) “Employee” means
any person employed by the Company, or any Parent or Subsidiary, with the status of employment determined pursuant to such factors
as are deemed appropriate by the Company in its sole discretion, subject to any requirements of Applicable Laws.  The payment
by the Company of a director’s fee shall not be sufficient to constitute “employment” of such director by the
Company or any Parent or Subsidiary.

 

(s) “Exchange Act” means
the United States Securities Exchange Act of 1934, as amended.

 

(t) “Fair Market Value” means,
except as otherwise provided in the applicable Award Agreement, (i) the closing per Share sales price of the Shares (A) as
reported for such date by the stock exchange on which the Shares are listed or (B) if the Shares (or other securities representing
the Shares) are listed on any other national stock exchange, as reported on the stock exchange composite tape for securities traded
on such stock exchange for such date or, with respect to each of clauses (A) and (B), if there were no sales on such
date, on the closest preceding date on which there were sales of Shares or (ii) in the event there shall be no public market
for the Shares on such date, the fair market value of the Shares as determined in good faith by the Administrator.

 

(u) “Family Members” means
any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law,
father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law (including adoptive relationships) of the Participant,
any person sharing the Participant’s household (other than a tenant or employee), a trust in which these persons (or the
Participant) have more than 50% of the beneficial interest, a foundation in which these persons (or the Participant) control the
management of assets, and any other entity in which these persons (or the Participant) own more than 50% of the voting interests.

 

(v) “Incentive Share Option” means
an Option intended to, and which does, in fact, qualify as an incentive share option within the meaning of Section 422 of
the Code.

 

(w) “Nonstatutory Share Option” means
an Option that is not intended to, or does not, in fact, qualify as an Incentive Share Option.

 

(x) “Option” means
a share option granted pursuant to the Plan.

 

    4

     

    

   

(y) “Optioned Shares” means
Shares that are subject to an Option or that were issued pursuant to the exercise of an Option.

  

(z) “Optionee” means
an Employee or Consultant who receives an Option.

 

(aa) “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 shares possessing 50% or more of the total combined voting power of all classes of shares in one of
the other corporations in such chain.

 

(bb) “Participant” means
any holder of one or more Awards or Shares issued pursuant to an Award.

 

(cc) “Plan” means
this 2020 Share Incentive Plan.

 

(dd) “Plan Effective Date” has
the meaning set forth in Section 7.

 

(ee) “PRC” means
People’s Republic of China, excluding, for the purposes of this Plan, the Award Agreement and any Award granted pursuant
to this Plan, Hong Kong, the Macau Special Administrative Region and the island of Taiwan.

 

(ff) “Prior Plan” means
the Meten International Education Group 2018 Share Incentive Plan.

 

(gg) “Rule 16b-3” means
Rule 16b-3 promulgated under the Exchange Act, as amended from time to time, or any successor provision.

 

(hh) “Share” means
the Company’s ordinary shares, as may be adjusted in accordance with Section 17 below.

 

(ii) “Share Exchange” means
any share exchange or consolidated share price reporting system on which prices for the Shares are quoted at any given time.

 

(jj) “Subsidiary” means
any corporation or other entity (i) of which a majority of the outstanding voting shares or voting power is owned or directed
directly or indirectly by the Company, or (ii) that is Controlled by or under common Control with the Company.  Notwithstanding
the foregoing, with respect to any Incentive Share Option, “Subsidiary” shall mean 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 shares possessing 50% or more of the total combined voting power of all classes of shares in one of
the other corporations in such chain

 

(kk) “Ten Percent Holder” means
a person who owns shares (as determined under Code Section 424(d)) representing more than 10% of the voting power of all classes
of shares of the Company or any Parent or Subsidiary measured as of an Award’s date of grant.

 

(ll) “Withholding Taxes” shall
mean the applicable federal, state, local and foreign income and employment withholding taxes and other payments to which the holder
of an Award under the Plan may become subject in connection with the issuance, exercise, vesting or settlement of that Award.

 

3. Awards.  Awards under
the Plan may consist of (i) Options, (ii) share appreciation rights, (iii) share awards, (iv) restricted share
units, (iv) dividend equivalents and (v) other share-based awards.

 

    5

     

    

 

4. Shares Subject to the Plan.

   

(a) Subject to the provisions of
Section 17 below, the maximum aggregate number of Shares that may be issued under the Plan is initially the sum of (i)
3,050,701 Shares underlying the Assumed Awards, and (ii) one percent (1%) of the total issued and outstanding ordinary shares
of the Company upon the consummation of the Business Combination. The Shares issued under the Plan may be authorized,
but unissued, or reacquired Shares (subject to Applicable Laws), including Shares repurchased by the Company on the open
market.

  

(b) The number of Shares available for issuance
under the Plan shall automatically increase on the first trading day in January each calendar year during the term of the
Plan, beginning on the first trading day in January 2021, by an amount equal to 1% of the total number of Shares outstanding
as measured as of the last trading day in the immediately preceding calendar year, or such fewer number of Shares as determined
by the Board, but in no event shall any such annual increase exceed 645,545 Shares.

 

(c) If an Award (including an Assumed Award)
should expire, terminate, be forfeited or cancelled or become unexercisable for any reason without having been exercised in full,
or is surrendered pursuant to Section 14, 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
that are retained by the Company, and any Shares tendered by the Participant, in either case, upon exercise of an Award (including
an Assumed Award) in order to satisfy the exercise or purchase price for such Award, and Shares withheld by the Company or tendered
by the Participant in payment of the withholding taxes relating to an Award (including an Assumed 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 (including an Assumed Award) 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 the termination of a Participant’s Continuous Service Status) shall again be available
for future grant under the Plan.  Upon the exercise of any share appreciation right under the Plan, the number of Shares available
for issuance under the Plan shall be reduced only by the net number of Shares actually issued by the Company upon such exercise.

 

(d) Notwithstanding the foregoing, subject
to the provisions of Section 17 below, the maximum aggregate number of Shares that may be issued under the Plan pursuant to
Incentive Share Options shall be the number set forth in the first sentence of Section 4(a) plus, to the extent allowable
under Section 422 of the Code and the United States Treasury Regulations promulgated thereunder, any Shares that again become
available for issuance pursuant to the remaining provisions of this Section 4.  Such share limitation shall automatically
be increased pursuant to the provisions of subsection (b) above.

 

(e) Outstanding Awards granted pursuant to
the Plan shall in no way effect the right of the Company to adjust, reclassify, reorganize or otherwise change its capital or business
structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets.

 

(f) Substitute Awards (as defined below) shall
not reduce the Shares authorized for issuance under the Plan, nor shall Shares subject to a terminated, cancelled or forfeited
Substitute Award be added to the Shares available for issuance under the Plan as provided above.  Additionally, except with
respect to the Prior Plan, in the event that a company acquired by the Company or any Subsidiary (or Parent) or with which the
Company or any Subsidiary (or Parent) combines has shares available under a pre-existing plan approved by shareholders and not
adopted in contemplation of such acquisition or combination, the shares available for grant pursuant to the terms of such pre-existing
plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in
such acquisition or combination to determine the consideration payable to the holders of shares of the entities party to such acquisition
or combination) may be used for Awards under the Plan and shall not reduce the Shares authorized for issuance under the Plan (and
Shares subject to such Awards shall not be added to the Shares available for issuance under the Plan as provided above), provided
that Awards using such available Shares shall not be made after the date awards or grants could have been made under the terms
of the pre-existing plan, absent the acquisition or combination, and shall only be made to individuals who were not Employees or
Consultants prior to such acquisition or combination.  For purposes of this section, “Substitute Awards”
shall mean Awards granted or Shares issued by the Company in assumption of, or in substitution or exchange for, awards previously
granted, or the right or obligation to make future awards, in each case by a company acquired by the Company or any Subsidiary
(or Parent) or with which the Company or any Subsidiary (or Parent) combines, which shall not include the Assumed Awards.

 

    6

     

    

    

5. Administration of the Plan.

 

(a) General.  The Plan
shall be administered by the Board, a Committee appointed by the Board, or any combination thereof, as determined by the Board
in accordance with Applicable Laws.  The Plan may be administered by different Committees (that may be different administrative
bodies) with respect to different classes of Participants, as determined by the Board and as may be required by Applicable Laws. 
If permitted by Applicable Laws, the Board may authorize one or more officers of the Company to make Awards under the Plan to Employees
and Consultants (who are not subject to Section 16 of the Exchange Act) within parameters specified by the Board.  The
Board may, at any time, terminate the functions of any Committee or officer under the Plan and resume all powers and authority
previously delegated to such Committee or officer.  Decisions of the Administrator shall be final and binding on all parties
who have an interest in the Plan or any Award thereunder.

 

(b) Committee Composition.  If
a Committee has been appointed pursuant to this Section 5, such Committee shall continue to serve in its designated capacity
until otherwise directed by the Board.  From time to time the Board may increase the size of any Committee and appoint additional
members thereof, remove members (with or without cause) and appoint new members in substitution therefor, fill vacancies (however
caused) and dissolve a Committee and thereafter directly administer the Plan, all to the extent permitted by Applicable Laws and,
in the case of a Committee administering the Plan in accordance with the requirements of Rule 16b-3, to the extent permitted
or required by such provision.

 

(c) Powers of the Administrator. 
Subject to the provisions of the Plan and, in the case of a Committee, the specific duties delegated by the Board to such Committee,
the Administrator shall have the authority, in its sole discretion:

 

(i) to determine the Fair Market Value in
accordance with the Plan, provided that such determination shall be applied consistently with respect to Participants under the
Plan;

 

(ii) to select the Employees and Consultants
to whom Awards may from time to time be granted and the time or times when those Awards are to be made;

 

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

 

(iv) to approve the form(s) of agreement(s) and
other related documents used under the Plan;

 

(v) to determine the terms and conditions,
not inconsistent with the terms of the Plan, of any Award granted hereunder, which terms and conditions include but are not limited
to the exercise or purchase price, the time or times when Awards may vest and/or be exercised (which may be based on performance
criteria), the circumstances (if any) when vesting will be accelerated or forfeiture restrictions will be waived, the maximum term
for which an Award is to remain outstanding, the cash consideration (if any) payable for the Shares under an Award, the form (cash
or Shares) in which the Award is to be settled, the status of a granted Option as either an Incentive Share Option or Nonstatutory
Share Option, and any restriction or limitation regarding any Award, or Optioned Shares;

 

(vi) to amend any outstanding Award or agreement
related to any Optioned Shares or Award, including any amendment adjusting vesting (e.g., in connection with a change in the terms
or conditions under which such person is providing services to the Company), provided that no amendment shall be made that would
materially and adversely affect the rights of any Participant without his or her consent;

 

    7

     

    

  

(vii) subject to Applicable Laws, to implement
a repricing program, as set forth in Section 14, and establish the terms and conditions of such program without consent of
the holders of capital shares of the Company, provided that no amendment or adjustment to an Option or SAR that would materially
and adversely affect the rights of any Participant shall be made without his or her consent;

 

(viii) to approve addenda pursuant to Section 24
below or to grant Awards to, or to modify the terms of, any outstanding Award Agreement or any agreement related to any Optioned
Shares or Award held by Participants who are foreign nationals or employed outside of the PRC with such terms and conditions as
the Administrator deems necessary or appropriate to accommodate differences in local law, tax policy or custom which deviate from
the terms and conditions set forth in this Plan to the extent necessary or appropriate to accommodate such differences;

 

(ix) implement any procedures, steps, additional
or different requirements as may be necessary to comply with any laws of the PRC or any other country that may be applicable to
the Plan, any Award or any related documents, including but not limited to foreign exchange laws, tax laws and securities laws
of the PRC or any other applicable country; and

 

(x) to construe and interpret the terms
of the Plan, any Award Agreement, and any agreement related to any Optioned Shares or Awards, which constructions, interpretations
and decisions shall be final and binding on all Participants.

 

(d) Indemnification.  To
the maximum extent permitted by Applicable Laws, each member of the Committee (including officers of the Company, if applicable),
and of the Board, and any delegate of the Board or a Committee, as applicable, shall be indemnified and held harmless by the Company
against and from (i) any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him or her in
connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she
may be involved by reason of any action taken or failure to act under the Plan or pursuant to the terms and conditions of any Award
except for actions taken in bad faith or failures to act in good faith, and (ii) any and all amounts paid by him or her in
settlement thereof, with the Company’s approval, or paid by him or her in satisfaction of any judgment in any such claim,
action, suit, or proceeding against him or her, provided that such member shall give the Company an opportunity, at its own expense,
to handle and defend any such claim, action, suit or proceeding before he or she undertakes to handle and defend it on his or her
own behalf.  The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which
such persons may be entitled under the Company’s Memorandum and Articles of Association, as amended from time to time, by
contract, as a matter of law, or otherwise, or under any other power that the Company may have to indemnify or hold harmless each
such person.

 

6. Eligibility.

 

(a) Recipients of Grants. 
Employees and Consultants are eligible to participate in the Plan.

 

(b) No Employment or Service Rights.  Neither
the Plan nor any Award shall confer upon any Employee or Consultant any right with respect to continuation of an employment, consulting
or other service relationship with the Company (any Parent or Subsidiary), nor shall it interfere in any way with such Employee’s
or Consultant’s right or the Company’s (Parent’s or Subsidiary’s) right to terminate his or her employment,
consulting or other service relationship at any time, with or without Cause.

 

7. Term of Plan.  The
Plan shall become effective upon the closing of the Business Combination (the “Plan Effective Date”) and shall continue
in effect for a term of five (5) years unless sooner terminated under Section 21 below.  All Awards outstanding at the
time of the termination of the Plan shall continue to have full force and effect in accordance with the provisions of the documents
evidencing those Awards.

 

    8

     

    

  

8. Options.

 

(a) Authority.  The Administrator
shall have full power and authority, exercisable in its sole discretion, to grant Options evidenced by an Award Agreement in the
form approved by the Administrator.

 

(b) Type of Option.  Each
Option shall be designated in the Award Agreement as either an Incentive Share Option or a Nonstatutory Share Option.  Nonstatutory
Share Options may be granted to Employees and Consultants.  Incentive Share Options may be granted only to Employees.

 

(c) Term of Option.  The
term of each Option shall be the term stated in the Award Agreement; provided that the term shall be no more than 10 years from
the date of grant thereof or such shorter term as may be provided in the Award Agreement and provided further that, in the case
of an Incentive Share Option granted to a person who at the time of such grant is a Ten Percent Holder, the term of the Option
shall be 5 years from the date of grant thereof or such shorter term as may be provided in the Award Agreement.

 

(d) Option Exercise Price and Consideration.

 

(i) Exercise Price. 
The per Share exercise price for the Shares to be issued pursuant to the exercise of an Option shall be such price as is determined
by the Administrator and set forth in the Award Agreement, but shall be subject to the following:

 

(1) In the case of an Incentive Share Option

 

a. granted to an Employee who at the time
of grant is a Ten Percent Holder, the per Share exercise price shall be no less than 110% of the Fair Market Value on the date
of grant; and

 

b. granted to any other Employee, the per
Share exercise price shall be no less than 100% of the Fair Market Value on the date of grant.

 

(2) Except as provided in subsection (3) below,
in the case of a Nonstatutory Share Option the per Share exercise price shall be such price as is determined by the Administrator,
and may be a fixed or variable price, provided that, if the per Share exercise price is or could be less than 100% of the Fair
Market Value on the date of grant, it shall otherwise comply with all Applicable Laws, and provided further that the per Share
exercise price of an Option granted to a U.S. taxpayer shall not be less than 100% of the Fair Market Value of a Share on the date
of grant of the Option; and

 

(3) Notwithstanding the foregoing, Options
may be granted with a per Share exercise price other than as required above pursuant to a merger or other corporate transaction.

 

(ii) Permissible Consideration.  The
consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment, shall be determined
by the Administrator (and, in the case of an Incentive Share Option and to the extent required by Applicable Laws, shall be determined
at the time of grant) and may consist entirely of any of the following forms of consideration, to the extent permitted under, and
in accordance with, Applicable Laws:

 

(1) cash or check denominated in U.S. dollars,
Chinese Renminbi or any other local currency;

 

(2) other previously owned Shares (whether
delivered in the form of actual stock certificates or through attestation of ownership) that have a Fair Market Value on the date
of surrender equal to the aggregate exercise price of the Shares as to which the Option is exercised, provided that such Shares
must have been previously held for any minimum duration required to avoid financial accounting charges under applicable accounting
guidance;

 

    9

     

    

   

(3) Shares otherwise issuable under the Option
but withheld by the Company in satisfaction of the exercise price, with such withheld Shares to be valued at Fair Market Value
on the exercise date;

 

(4) to the extent the Option is exercised
for vested Shares, through a special sale and remittance procedure pursuant to which the Optionee shall concurrently provide instructions
to (A) a brokerage firm (reasonably satisfactory to the Company for purposes of administering such procedure in compliance
with the Company’s pre-clearance/pre-notification policies) to effect the immediate sale of the purchased shares and remit
to the Company, out of the sale proceeds available on the settlement date, sufficient funds to cover the aggregate exercise price
payable for the purchased Shares plus all applicable income and employment taxes required to be withheld by the Company by reason
of such exercise and (B) the Company to deliver the certificates for the purchased Shares directly to such brokerage
firm on such settlement date in order to complete the sale.

 

(5) such other consideration and method of
payment permitted under Applicable Laws; or

 

(6) any combination of the foregoing methods
of payment.  In making its determination as to the type of consideration to accept, the Administrator shall consider if acceptance
of such consideration may be reasonably expected to benefit the Company and the Administrator may, in its sole discretion, refuse
to accept a particular form of consideration at the time of any Option exercise.

 

(e) Exercise of Option.

 

(i) General.

 

(1) Exercisability.  Any
Option granted hereunder shall be exercisable at such times and under such conditions as determined by the Administrator, consistent
with the terms of the Plan and reflected in the Award Agreement, including vesting requirements and/or performance criteria with
respect to the Company, and Parent or Subsidiary, and/or the Optionee.  Notwithstanding the foregoing, unless otherwise approved
by the Board, any Option granted hereunder shall vest in accordance with the vesting schedule as stated in the Award Agreement.

 

(2) Minimum Exercise Requirements.
 An Option may not be exercised for a fraction of a Share.  The Administrator may require that an Option be exercised
as to a minimum number of Shares, provided that such requirement shall not prevent an Optionee from exercising the full number
of Shares as to which the Option is then exercisable.  Further, the Administrator may impose on any Optionee, or all Optionees,
reasonable limitations on the number of requested exercises during any monthly or weekly period as determined by the Administrator.

  

(3) Procedures for and Results of Exercise.  Unless
otherwise set forth in the Award Agreement, an Option shall be deemed exercised when written notice of such exercise has been received
by the Company in accordance with the terms of the Award Agreement by the person entitled to exercise the Option and the Company
has received full payment for the Shares with respect to which the Option is exercised and has paid, or made arrangements to satisfy,
any applicable taxes, withholding, required deductions or other required payments in accordance with Section 16 below. 
The exercise of an Option shall result in a decrease in the number of Shares that thereafter may be available, both for purposes
of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised.

 

    10

     

    

  

(ii) Termination of Continuous Service
Status.  The Administrator shall establish and set forth in the applicable Award Agreement the terms and conditions
upon which an Option shall remain exercisable, if at all, following termination of an Optionee’s Continuous Service Status. 
During the applicable post-Continuous Service Status exercise period (as set forth in the Award Agreement), the Option may not
be exercised for more than the number of vested Optioned Shares for which the Option is at the time exercisable.  No additional
Optioned Shares shall vest under the Option following the Optionee’s cessation of Continuous Service Status except to the
extent (if any) specifically authorized by the Administrator in its sole discretion pursuant to an express written agreement with
the Optionee.  Upon the expiration of the applicable exercise period or (if earlier) upon the expiration of the Option term,
the Option shall terminate and cease to be outstanding for any Optioned Shares for which the Option has not been exercised. 
Notwithstanding the foregoing, the Administrator shall have complete discretion, exercisable either at the time an Option is granted
or at any time while the Option remains outstanding, to: (A) extend the period of time for which the Option is to remain exercisable
following the Optionee’s cessation of Continuous Service Status from the limited exercise period otherwise in effect for
that Option to such greater period of time as the Administrator shall deem appropriate, but in no event beyond the expiration of
the Option term; and/or (B) permit the Option to be exercised, during the applicable post-Continuous Service Status exercise
period, not only with respect to the number of vested Optioned Shares for which such Option is exercisable at the time of the Optionee’s
cessation of Continuous Service Status but also with respect to one or more additional installments in which the Optionee would
have vested had the Optionee continued in Continuous Service Status.

 

(iii) Option Exercise by PRC
Participants. The Administrator may take all actions necessary to alter the method of Option exercise and the exchange
and transmittal of proceeds with respect to Participants that are PRC citizens or resident in PRC in order to comply with applicable
PRC foreign exchange and tax regulations and any other applicable PRC laws and regulations.

 

(f) ISO $100,000 Limitation.  Notwithstanding
any designation under Section 8(b) above, to the extent that the aggregate Fair Market Value of Shares with respect to
which one or more options designated as incentive share options are exercisable for the first time by any Optionee during any calendar
year (under all plans of the Company or any Parent or Subsidiary) exceeds $100,000, such excess portion of the options shall be
treated as nonstatutory share options.  For purposes of this Section 8(f), incentive share options shall be taken into
account in the order in which they were granted, and the Fair Market Value of the Shares subject to an incentive share option shall
be determined as of the date of the grant of such option.

 

9. Share Appreciation Rights. 
A share appreciation right or “SAR” is a right to receive a payment, in cash and/or Shares, equal to the excess of
the Fair Market Value of a specified number of Shares on the date the SAR is exercised over the “base price” of the
Award, which base price shall be determined by the Administrator and set forth in the applicable Award Agreement; provided, however,
that the base price of a SAR granted to a U.S. taxpayer shall not be less than 100% of the fair market value of an Share on the
date of grant of the SAR.  The maximum term of a SAR shall be 10 years.  The terms and conditions of a SAR shall be evidence
by an Award Agreement in the form approved by the Administrator.

 

10. Share Awards.

 

(a) Share Awards.  A share
award is an award of Shares issued for such cash or other valid consideration as determined by the Administrator.

 

(b) Authority.  The Administrator
shall have full power and authority, exercisable in its sole discretion, to grant share awards either as vested or unvested Shares,
through direct and immediate issuances.  Each share award shall be evidenced by an Award Agreement in the form approved by
the Administrator, provided, however, that the terms of each such Award Agreement shall not be inconsistent with the terms specified
below.

 

    11

     

    

 

(c) Consideration.  Shares
may be issued under a share award for any of the following items of consideration, which the Administrator may deem appropriate
in each individual instance:

   

(i) cash or check made payable to the Company;

 

(ii) past services rendered to the Company
(or any Parent or Subsidiary); or

 

(iii) any other valid consideration, as
determined in accordance with Applicable Laws.

 

(d) Vesting Provisions.

 

(i) Share awards may, in the discretion
of the Administrator, be fully and immediately vested upon issuance as a bonus for service rendered or may vest in one or more
installments over the Participant’s period of Continuous Service Status and/or upon the attainment of specified performance
objectives.  The elements of the vesting schedule applicable to any share award shall be determined by the Administrator and
incorporated into the Award Agreement.

 

(ii) The Administrator shall also have the
discretionary authority to structure one or more share awards so that the Shares subject to those Awards shall vest upon the achievement
of pre-established performance objectives based on one or more performance goals and measured over the performance period specified
by the Administrator at the time of the grant of the Award.

 

(iii) Should the Participant cease to remain
in Continuous Service Status while holding one or more unvested Shares issued under a share award or should the performance objectives
not be attained with respect to one or more such unvested Shares, then those Shares shall be immediately surrendered to the Company
for cancellation, and the Participant shall have no further shareholder rights with respect to those Shares.  To the extent
the surrendered Shares were previously issued to the Participant for consideration paid in cash or cash equivalent, the Company
shall repay to the Participant the lower of (i) the cash consideration paid for the surrendered Shares
or (ii) the Fair Market Value of those Shares at the time of cancellation.

 

(iv) The Administrator may in its discretion
waive the surrender and cancellation of one or more unvested Shares which would otherwise occur upon the cessation of the Participant’s
Continuous Service Status or the non-attainment of the performance objectives applicable to those shares.  Any such waiver
shall result in the immediate vesting of the Participant’s interest in the Shares as to which the waiver applies.

 

11. Restricted Share Units.

 

(a) RSUs.  A restricted
share unit or “RSU” is a right to receive a Share (or an amount based on the value of the Share) upon vesting or upon
the expiration of a designated time period following the vesting of the Award.

 

(b) Authority.  The Administrator
shall have the full power and authority, exercisable in its sole discretion, to grant RSUs evidenced by an Award Agreement in the
form approved by the Administrator, provided, however, that the terms of each such Award Agreement shall not be inconsistent with
the terms specified below.

 

(c) Terms.  Each RSU Award
shall entitle the Participant to receive the Shares underlying that Award (or an amount based on the value of the Shares) upon
vesting or upon the expiration of a designated time period following the vesting of those Awards.  Payment of Shares underlying
a RSU Award (or any amount based on the value of the Shares) may be deferred for a period specified by the Administrator at the
time the RSU is initially granted or (to the extent permitted by the Administrator) designated by the Participant pursuant to a
timely deferral election made in accordance with the requirements of Applicable Laws (including Code Section 409A). 
RSUs subject to performance vesting may also be structured so that the underlying Shares are convertible into Shares (or a payment
based on the value of the Shares), but the rate at which each share is to so convert shall be based on the attained level of performance
for each applicable performance objective.

 

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(d) Vesting Provisions.

 

(i) RSUs may, in the discretion of the Administrator,
vest in one or more installments over the Participant’s period of Continuous Service Status or upon the attainment of specified
performance objectives.

 

(ii) The Administrator shall also have the
discretionary authority to structure one or more RSU Awards so that the Shares subject to those Awards shall vest (or vest and
become issuable) upon the achievement of pre-established performance objectives based on one or more performance goals and measured
over the performance period specified by the Administrator at the time of the grant of the Award.

 

(iii) Outstanding RSUs shall automatically
terminate without any payment if the designated performance goals or Continuous Service Status requirements established for those
Awards are not attained or satisfied.  The Administrator, however, shall have the discretionary authority to make a payment
under one or more outstanding Awards of RSUs as to which the designated performance goals or Continuous Service Status requirements
have not been attained or satisfied.

 

(iv) Payment.  RSUs that
vest may be settled in (i) cash, (ii) Shares valued at Fair Market Value on the payment date or (iii) a combination
of cash and Shares, as determined by the Administrator in its sole discretion.

 

12. Dividend Equivalents.

 

(a) Authority.  The Administrator
shall have full power and authority, exercisable in its sole discretion, to grant dividend equivalent rights evidenced by an Award
Agreement in the form approved by the Administrator, provided however, that the terms of each such Award Agreement shall not be
inconsistent with the terms specified below.

 

(b) Terms.  The dividend
equivalent rights may be granted as stand-alone awards or in tandem with other Awards made under the Plan, except dividend equivalent
rights shall not be granted in connection with an Option, share appreciation right or cash incentive award.  The term of each
dividend equivalent right award shall be established by the Administrator at the time of grant, but no such award shall have a
term in excess of 10 years.

 

(c) Entitlement.  Each
dividend equivalent right shall represent the right to receive the economic equivalent of each dividend or distribution, whether
in cash, securities or other property (other than Shares), which is made per issued and outstanding Share during the term the dividend
equivalent right remains outstanding.  A special account on the books of the Company shall be maintained for each Participant
to whom a dividend equivalent right is granted, and that account shall be credited per dividend equivalent right with each such
dividend or distribution made per issued and outstanding Share during the term of that dividend equivalent right remains outstanding.

 

(d) Timing of Payment. 
Payment of the amounts credited to such book account may be made to the Participant either concurrently with the actual dividend
or may be subject to vesting and become payable to the same extent as the Shares subject to the Award, subject to the requirements
of Applicable Laws (including Code Section 409A).

 

(e) Form of Payment.  Payment
of the amounts due with respect to dividend equivalent rights may be made in (i) cash, (ii) Shares or (iii) a combination
of cash and Shares, as determined by the Administrator in its sole discretion and set forth in the Award Agreement.  If payment
is to be made in the form of Shares, the number of Shares into which the cash dividend or distribution amounts are to be converted
for purposes of the Participant’s book account may be based on the Fair Market Value per Share on the date of conversion,
a prior date or an average of the Fair Market Value per Share over a designated period, as determined by the Administrator in its
sole discretion.

 

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13. Other Share-Based Awards. 
The other types of awards that may be granted under this Plan include: (a) phantom shares or similar rights to purchase or
acquire Shares, whether at a fixed or variable price or ratio related to the Shares, upon the passage of time, the occurrence of
one or more events, or the satisfaction of performance criteria or other conditions, or any combination thereof; (b) any similar
securities with a value derived from the value of or related to the Shares and/or returns thereon; or (c) cash awards.

 

14. Repricing Programs. 
The Administrator shall have the discretionary authority to (i) implement cancellation/regrant programs pursuant to which
outstanding Options or SARs under the Plan are cancelled and new Options or SARs are granted in replacement with a lower exercise
or base price per Share, (ii) cancel outstanding Options or SARs under the Plan with exercise or base prices per Share in
excess of the then current Fair Market Value per Share for consideration payable in cash, other Awards, or in equity securities
of the Company (except in the event of a Change of Control) or (iii) reduce the exercise or base price in effect for outstanding
Options or SARs under the Plan, in any case without shareholder approval.

 

15. Rights as Holder of Capital Share.  A
Participant shall not have any of the rights of a shareholder with respect to Shares covered by an Award until the Participant
becomes the holder of record of such Shares.  However, a Participant may be granted the right to receive dividend equivalents
under Section 12 with respect to one or more outstanding Awards.

 

16. Taxes.

 

(a) As a condition of the grant, vesting and
exercise of an Award, the Participant (or in the case of the Participant’s death or a permitted transferee, the person holding
or exercising the Award) shall make such arrangements as the Administrator may require for the satisfaction of any applicable tax,
withholding, and any other required deductions or payments that may arise in connection with such Award.  The Company shall
not be required to issue any Shares under the Plan until such obligations are satisfied.

 

(b) The Administrator may, to the extent permitted
under Applicable Laws, permit a Participant (or in the case of the Participant’s death or a permitted transferee, the person
holding or exercising the Award) to use Shares in satisfaction of all or part of the Withholding Taxes to which such holders may
become subject in connection with the issuance, exercise, vesting or settlement of those Awards or the issuance of Shares thereunder. 
Such right may be provided to any such individual in either or both of the following formats:

 

(i) Share Withholding: The
election to have the Company withhold, from the Shares otherwise issuable upon the issuance, exercise, vesting or settlement of
such Award or the issuance of Shares thereunder, a portion of those Shares with an aggregate Fair Market Value at the time of delivery
equal to the percentage of the Withholding Taxes based on the minimum required tax withholding rate for the Participant, or such
other rate as determined by the Administrator.

 

(ii) Share Delivery: The election
to deliver to the Company, at the time of the issuance, exercise, vesting or settlement of such Award, one or more Shares previously
acquired by such individual (other than in connection with the exercise, share issuance or share vesting triggering the Withholding
Taxes) with an aggregate Fair Market Value equal to the percentage of the Withholding Taxes (not to exceed 100%) designated by
the individual.

 

Shares withheld or delivered under this subsection
(b) shall be limited to avoid financial accounting charges under applicable accounting guidance and any such surrendered Shares
must have been previously held for any minimum duration required to avoid financial accounting charges under applicable accounting
guidance, as determined by the Administrator.  Any payment of Withholding Taxes by surrendering Shares to the Company may
be subject to restrictions, including, but not limited to, any restrictions required by rules of the United States Securities
and Exchange Commission.

 

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17. Adjustments Upon Changes in Capitalization,
Merger or Certain Other Transactions.

 

(a) Changes in Capitalization. 
Subject to any action required under Applicable Laws by the holders of capital shares of the Company, should any change be made
to the Shares by reason of any share split, reverse share split, share dividend, combination, consolidation, reclassification of
the Shares, subdivision of the Shares, increase or decrease in the number of issued Shares effected without receipt of consideration
by the Company, a declaration of an extraordinary dividend with respect to the Shares payable in a form other than Shares in an
amount that has a material effect on the Fair Market Value, a recapitalization (including a recapitalization through a large nonrecurring
cash dividend), a rights offering, a reorganization, merger, a spin-off, split-up, change in corporate structure or a similar occurrence,
the Administrator shall make equitable adjustments, in its discretion, in one or more of (i) the numbers and class of Shares
or other shares or securities:  (x) available for future Awards under Section 4 above (including as Incentive Share
Options) and (y) covered by each outstanding Award, (ii) the exercise price per Share of each outstanding Option and
(iii) any repurchase price per Share applicable to Shares issued pursuant to any Award.  Any such adjustment by the Administrator
under this Section 17(a) shall be made in the Administrator’s sole and absolute discretion and shall be final,
binding and conclusive.  Except as expressly provided herein, no issuance by the Company of shares of any class, or securities
convertible into shares of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number
or price of Shares subject to an Award.  If, by reason of a transaction described in this Section 17(a) or an adjustment
pursuant to this Section 17(a), a Participant’s Award Agreement or agreement related to any Optioned Shares or Award
covers additional or different shares or securities, then such additional or different shares, and the Award Agreement or agreement
related to the Optioned Shares or Award in respect thereof, shall be subject to all of the terms, conditions and restrictions which
were applicable to the Award or Optioned Shares prior to such adjustment.

 

(b) Dissolution or Liquidation. 
In the event of the dissolution or liquidation of the Company, each Award will terminate immediately prior to the consummation
of such action, unless otherwise determined by the Administrator.

 

(c) Change of Control. 
In the event of a Change of Control, 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 Change of Control:  (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 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 Change of Control over (2) the
exercise price or purchase price paid or to be paid for the Shares subject to the Awards; or (E) the cancellation of any outstanding
Award for no consideration.  Notwithstanding anything herein, under this Plan, any Award Agreement or otherwise, any escrow,
holdback, earn-out or similar provisions agreed to pursuant to, or in connection with, a Change of Control shall, unless otherwise
determined by the Administrator, apply to any payment or other right a Participant may be entitled to under this Plan, if any,
to the same extent and in the same manner as such provisions apply generally to the holders of the Company’s Shares with
respect to the Change of Control, but only to extent permitted by Applicable Law, including (without limitation), Section 409A
of the Code.

 

    15

     

    

 

18. Non-Transferability of Awards.

   

(a) General.  Except as
set forth in this Section 18, Awards (or any rights of such Awards) may not be sold, pledged, encumbered, assigned, hypothecated,
or disposed of or otherwise transferred in any manner other than by will or by the laws of descent or distribution.  The designation
of a beneficiary by a Participant will not constitute a transfer.  An Option may be exercised, during the lifetime of the
holder of the Option, only by such holder or a transferee permitted by this Section 18.

  

(b) Limited Transferability Rights.  Notwithstanding
anything else in this Section 18, the Administrator may in its sole discretion provide that any Award (other than an Incentive
Share Option) may be transferred (i) by instrument to an inter vivos or testamentary trust in which the Award is to be passed
to beneficiaries upon the death of the trustor (settlor) or (ii) to a Family Member through a gift or domestic relations order.

 

(c) Beneficiaries.  If
permitted by the Company, a Participant may designate one or more beneficiaries with respect to an Award by timely filing the prescribed
form with the Company.  A beneficiary designation may be changed by filing the prescribed form with the Company at any time
before the Participant’s death.  Except as otherwise provided in an Award Agreement, if no beneficiary was designated
or if no designated beneficiary survives the Participant, then after a Participant’s death any vested Award(s) shall
be transferred or distributed to the Participant’s estate or to any person who has the right to acquire the Award by bequest
or inheritance.

 

19. Time of Granting Awards. 
The date of grant of an Award shall, for all purposes, be the date on which the Administrator completes the action authorizing
the grant of the Award to a Participant or such other later date as is determined by the Administrator

 

20. Recoupment.  Participants
shall be subject to any clawback, recoupment or other similar policy required by law or regulations or adopted by the Board as
in effect from time to time and Awards and any cash, Shares or other property or amounts due, paid or issued to a Participant shall
be subject to the terms of such policy, as in effect from time to time.

 

21. Amendment and Termination of the
Plan.  The Board may at any time amend or terminate the Plan, but no amendment or termination shall be made that would
materially and adversely affect the rights of any Participant under any outstanding Award, without his or her consent.  In
addition, to the extent necessary and desirable to comply with Applicable Laws, the Company shall obtain the approval of holders
of capital shares with respect to any Plan amendment in such a manner and to such a degree as required.

 

22. Conditions Upon Issuance of Shares. 
Notwithstanding any other provision of the Plan or any agreement entered into by the Company pursuant to the Plan, the Company
shall not be obligated, and shall have no liability for failure, to issue or deliver any Shares under the Plan unless such issuance
or delivery would comply with Applicable Laws, including without limitation all applicable securities laws and all applicable listing
requirements of any Share Exchange on which the Shares are then listed for trading, with such compliance determined by the Company
in consultation with its legal counsel.

 

23. Approval of Holders of Capital
Shares.  If required by Applicable Laws, continuance of the Plan shall be subject to approval by the holders of capital
shares of the Company within 12 months before or after the date the Plan is adopted or, to the extent required by Applicable Laws,
any date the Plan is amended.  Such approval shall be obtained in the manner and to the degree required under Applicable Laws.

 

24. Addenda.  The Administrator
may approve such addenda to the Plan as it may consider necessary or appropriate for the purpose of granting Awards to Employees
or Consultants, which Awards may contain such terms and conditions as the Administrator deems necessary or appropriate to accommodate
differences in local law, tax policy or custom, which may deviate from the terms and conditions set forth in this Plan.  The
terms of any such addenda shall supersede the terms of the Plan to the extent necessary to accommodate such differences but shall
not otherwise affect the terms of the Plan as in effect for any other purpose.

   

25. Foreign Currency. 
A Participant may be required to provide evidence that any currency used to pay the exercise or purchase price of any Award was
acquired and taken out of the jurisdiction in which the Participant resides in accordance with Applicable Laws, including foreign
exchange control laws and regulations.  In the event the Company permits payment of the exercise or purchase price for an
Award in currency other than as provided by the applicable Award Agreement, the amount payable will be determined by conversion
from the currency provided by the applicable Award Agreement to the other currency based on the exchange rate selected by the Company,
in its sole discretion, on the date of exercise.  Notwithstanding anything stated herein, the Company shall not be responsible
for any fluctuation in applicable exchange rates, or by the selection of any exchange rate, that in either case may affect the
value of the Award or any taxes or other amounts related thereto.

 

 

16

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