Document:

Exhibit 10.1

 

 

 

EMPLOYMENT AGREEMENT

 

EMPLOYMENT AGREEMENT (this “Agreement”),
dated April 30, 2017, between Liberty Tax, Inc. a Delaware corporation (“Company”), JTH Tax Inc., a Delaware
corporation (“Subco” and together with Company, the “Employers”), and any of their respective successors,
and Edward L. Brunot (the “Executive”).

 

W I T N E S E T H:

 

WHEREAS, the Employers desire to employ
the Executive, and the Executive desires to serve the Employers, in accordance with the terms and conditions of this Agreement.

 

NOW THEREFORE, in consideration of the foregoing
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree
as follows:

 

1.                 
Term of Employment. Unless the Executive’s employment shall sooner terminate pursuant to Section 4 of this
Agreement, the Employers shall employ the Executive for the period commencing on June 1, 2017 (the “Effective Date”)
and ending on the twelve (12) month anniversary of the Effective Date (the “Initial Term”); provided,
however, that commencing on the expiration of the Initial Term, the Executive’s employment shall be deemed to be automatically
extended, upon the same terms and conditions, for successive periods of one (1) year each (each, an “Extended Term”),
unless the Executive or either of the Employers, as the case may be, at least ninety (90) days prior to the expiration of the Initial
Term or any Extended Term, provides written notice to the other of its intention not to renew such employment. The period during
which the Executive is employed pursuant to this Agreement, including any Extended Term in accordance with the preceding sentence,
shall be referred to as the “Employment Period.”

 

2.                 
Duties and Responsibilities.

 

(a)               
The Executive shall serve as the Chief Operating Officer of Company and Subco. The Executive will have such duties and authorities
as are commensurate with such position and such additional duties and responsibilities as are determined from time to time by the
President of Company or the Board of Directors of Company (the “Board”). The Executive has the authority to
make organizational and policy changes to drive culture, performance and efficiencies. As Chief Operating Officer, the Executive
will report directly to the President of the Company. All employees of the Employers other than the President, the General Counsel,
the Chief Financial Officer and all employees who report directly or indirectly to the General Counsel or the Chief Financial Officer
will report to the Executive. Executive has final decision making authority over all hiring and separation decisions excluding
the Legal Department, Finance Department, their direct reports, and other departments that report directly to the President; provided,
however that hiring and separation decisions will conform with Employers’ policies, not exceed the Employers’ annual
budget and may be subject to Board approval.

 

    

     

    

(b)              
The Executive may be promoted to the position of Chief Executive Officer. In the event that the Executive is promoted to
the position of Chief Executive Officer, the Executive will report to the Board. The Executive will have such duties and authorities
as are commensurate with such position and such additional duties and responsibilities as are determined from time to time by the
Board.

 

(c)               
During the Employment Period, the Executive shall devote his full business time and best efforts to the performance of his
duties hereunder and shall not engage in any other business, profession or occupation, for compensation or otherwise, which would
conflict or interfere with the rendition of such duties either directly or indirectly, without the prior written consent of the
Board, it being understood, however, that the Executive may (i) serve as an officer or director of or otherwise participate in
educational, welfare, social, religious and civic organizations; (ii) deliver lectures or fulfill speaking engagements; (iii) manage
personal investments; and (iv) with the prior consent of the Employers, serve on for-profit boards, in each case so long as such
activities are consistent with the Employers’ code of ethics as in effect from time to time and do not materially interfere
with the Executive’s employment or responsibilities hereunder.

 

(d)              
Executive agrees to comply with Employers’ policies, including but not limited to the Code of Conduct and the Insider
Trading Policy.

 

3.                 
Compensation and Benefits.

 

(a)               
Base Salary. During the Employment Period, the Executive shall be paid a base salary by the Employers at an annual
rate of Five Hundred Thousand Dollars ($500,000.00), payable in regular installments in accordance with the Employers’ usual
payment practices. In the event that the Executive is promoted to the position of Chief Executive Officer, the Executive’s
base salary shall be increased to an annual rate of Six Hundred Thousand Dollars ($600,000.00). The Board shall review Executive’s
base salary annually during the Employment Period (beginning after the fiscal year ending April 30, 2018) and may increase (but
not decrease) that base salary from time-to-time, based on its periodic review of Executive’s performance in accordance with
the Company’s regular policies and procedures. The Executive’s annual base salary as in effect from time to time is
hereinafter referred to as the “Base Salary.”

 

(b)              
Signing Bonus. The Employers shall pay the Executive a one-time signing bonus “Signing Bonus,” to the
extent such Signing Bonus is approved by the Compensation Committee of the Board, valued at One Million, Two Hundred Fifty Thousand
Dollars ($1,250,000.00) and payable as follows:

 

		(i)	Three Hundred Twenty-Five Thousand Dollars ($325,000) payable in cash,

 

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		(ii)	Via stock options having a value (as determined by the Board in its sole discretion) as of their date of grant equal to Six
Hundred Thousand Dollars ($600,000), which will vest in three equal installments over a three-year period (assuming the Executive’s
continued service to the Employers through each vesting date, except as otherwise provided herein), and which will be subject to
such additional vesting and other terms to be further defined in applicable stock option agreements, to be granted by the Board,
and

 

		(iii)	Via restricted stock units having a value (as determined by the Board in its sole discretion) as of their date of grant having
a value equal to Three Hundred Twenty Five Thousand Dollars ($325,000), which will vest in three equal installments over a three-year
period (assuming the Executive’s continued service to the Employers through each vesting date, except as otherwise provided
herein), and which will be subject to vesting and other terms to be further defined in applicable agreements to be granted by the
Board.

 

The Executive’s retention of the Signing
Bonus is subject to Section 4(e) of this Agreement.

 

(c)               
Annual Bonus. The Company has established an annual incentive bonus program (“Annual Bonus”).  For
the duration of this Agreement, the Executive is eligible for an Annual Bonus, payable if, as and when Annual Bonuses payable to
other executive officers of Company are paid.  The amount, if any, available to be paid to Executive and the time and form
of payment of bonuses, will be determined and approved by the Compensation Committee of the Board.  During such time as the
Executive serves as Chief Operating Officer, the target amount of the Annual Bonus shall be equal to seventy-five percent (75%)
of the Base Salary paid to Executive as of the last day of the previous fiscal year. During such time as the Executive serves as
Chief Executive Officer, the target amount of the Annual Bonus shall be equal to one hundred percent (100%) of the Base Salary
paid to Executive as of the last day of the previous fiscal year. Executive’s eligibility for the Annual Bonus shall be determined
on a basis consistent with other named executive officers of the Company (as defined under the Securities Exchange Act of 1934,
as amended).

 

(d)              
Equity and Cash Incentive Plan. To the extent approved by the Board, the Executive may be granted annual equity or
cash incentive awards pursuant to the Employers’ Equity and Cash Incentive Plan, which may be amended or terminated by the
Employers at Employers’ discretion. Executive’s eligibility for equity or cash incentive awards shall be determined
on a basis consistent with other named executive officers of the Company (as defined under the Securities Exchange Act of 1934).

 

(e)               
Benefits. During the Employment Period, Executive will be eligible to participate in the employee and executive benefit
plans and programs maintained by the Employers from time-to-time in which executive officers of the Employers are eligible to participate,
including, to the extent maintained by the Employers, life, medical, dental, accidental and disability insurance plans, retirement
plans, incentive stock award and stock compensation plans, and deferred compensation and savings plans, in accordance with the
terms and conditions thereof as in effect from time to time. Executive shall be eligible to participate in the Employers’
existing 401(k) plan, in accordance with its terms, and the Employers shall match Executive’s contributions in accordance
with the terms of that plan, provided that the matching does not violate any provisions of the 401(k) plan. All benefit programs
are subject to change from time to time in the Employers’ discretion. The other provisions of this paragraph notwithstanding,
Executive shall also be entitled to undergo an annual executive physical at Employers’ expense, not to exceed $5,000.00,
at a health care provider of Executive’s choosing.

 

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(f)               
Vacation. During the Employment Period, Executive shall be entitled to vacation on the same basis as other executive
officers of the Employers. Executive shall also be entitled to Employer-designated holidays, but in no event shall Executive have
less than four weeks of vacation per year.

 

(g)              
Business Expenses. During the Employment Period, the Employers shall pay or reimburse the Executive for all reasonable
expenses incurred or paid by the Executive in the performance of his duties pursuant to this Agreement, upon presentation of expense
statements or vouchers and such other information as the Employers may require and in accordance with the generally applicable
policies and procedures of the Employers.

 

(h)              
 Sarbanes-Oxley/Dodd-Frank Act Compliance: Repayment of Bonus and Profits: Executive understands that, in accordance
with The Sarbanes-Oxley Act of 2002 and the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 (together,
“Applicable Law”), if the Company is required to prepare an accounting restatement due to the material noncompliance
of the Company with any financial reporting requirement under securities laws, Executive shall reimburse the Company, to the extent
reimbursement is required by Applicable Law, for: (i) the amount of any bonus or other incentive-based or equity-based compensation
received by Executive from the Company during the three-year period following the first public issuance or filing with the SEC
(whichever first occurs) of the financial document embodying such financial reporting requirement, but only to the extent that
the amount of incentive compensation received exceeds the amount of incentive-based compensation that
otherwise would have been paid had it been determined based on the accounting restatement; and (ii) any profits realized
from the sale of securities of the Company during that three-year period, but only to the extent that the
amount of profits received exceeds the amount of profits that otherwise would have been paid had it been determined based on the
accounting restatement.

 

4.                 
Termination of Employment.

 

(a)               
Early Termination of the Employment Period. If, during the Initial Term or any Extended Term, as applicable, the
Executive’s employment terminates for any reason, including but not limited to, the Executive’s death or Disability
(as hereinafter defined), termination by the Employers with or without Cause (as hereinafter defined) or voluntary termination
by the Executive with or without Good Reason (as hereinafter defined), the Employment Period shall thereupon end and, except as
otherwise provided herein, this Agreement shall terminate upon the effective date of such termination as set forth in a Notice
of Termination (as hereinafter defined).

 

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(b)              
Termination by the Employers with or without Cause. The Executive’s employment hereunder may be terminated
by the Employers with or without Cause, effective immediately upon delivery of a Notice of Termination to the Executive. “Cause”
shall mean the Executive’s (i) willful, intentional or grossly negligent failure to substantially perform his duties under
this Agreement; (ii) the Executive’s willful, intentional or grossly negligent violation of the Employers’ Code of
Conduct or Insider Trading Policy (iii) the Executive’s conviction of, or plea of nolo contendere to a crime constituting
(x) a felony under the laws of the United States or any state thereof or (y) a misdemeanor under the laws of the United States
or any state thereof (not including any traffic offense) involving moral turpitude, deceit, dishonesty or fraud that relates to
the Employers’ property; (iv) the willful, intentional or grossly negligent conduct of the Executive which is demonstrably
and materially injurious to the Employers, monetarily or otherwise; (v) the Executive’s material breach of Section 6 or Section
7 of this Agreement; or (vi) the Executive’s breach of Section 2(c) of this Agreement. For purposes of this definition of
Cause, no act, or failure to act, on the Executive’s part shall be deemed willful, intentional or grossly negligent if the
Executive acted in good faith and in a manner that the Executive reasonably believed to be in, or not opposed to, the best interests
of the Employers.

 

(c)               
Termination due to Death or Disability. The Executive’s employment hereunder shall terminate upon the Executive’s
death or in the event of a termination by the Employers due to the Executive’s Disability. “Disability”
shall mean (i) a finding by the President or the Board that the Executive has been unable to perform his job functions by reason
of a physical or mental impairment for a period of 90 consecutive days or any 90 days within a period of 180 consecutive days.
The President’s or the Board’s good faith determination of Disability shall be final, binding and conclusive.

 

(d)              
Delivery of Non-Renewal Notice. In the event the Employers or the Executive delivers a notice of non-renewal as described
in Section 1 hereof, the Executive’s employment hereunder shall terminate upon the expiration of the Initial Term or any
Extended Term, as applicable.

 

(e)               
Voluntary Termination by the Executive. The Executive may voluntarily terminate his employment with the Employers
with or without Good Reason by delivering a Notice of Termination to the Employers no less than thirty (30) days prior to the effective
date of such termination. “Good Reason” shall mean (a) failure of the Employers to promote the Executive to
the position of Chief Executive Officer by February 28, 2019; (b) the assignment to Executive of any duties inconsistent in any
material adverse respect with Executive’s position, duties, responsibilities or status with the Employers as a result of
a Change of Control, provided that Executive terminates his employment within sixty days of such Change of Control; (c) a significant
reduction in the Executive’s base salary as a result of a Change of Control, provided that Executive terminates his employment
within sixty days of the Change of Control; (d) any material breach of this Agreement by the Employers; provided, however, that
such breach shall constitute Good Reason only if the Executive provides written notice to the Employers (in accordance with Section
8(g) hereof) of the event which constitutes the breach within ninety (90) days following date that he has notice of the initial
existence of the breach and the Employers thereafter fail to cure such breach within thirty (30) business days following its receipt
of such notice. In the event that the Executive voluntarily terminates his employment with the Employers without Good Reason prior
to February 28, 2019, the Executive will remit to the Employers within five (5) business days after the Executive’s date
of termination of employment a cash amount equal to a Pro-rated value of the Signing Bonus (“Repayment of Signing Bonus”).
The Employers may deduct the Repayment of Signing Bonus from any undisputed amounts owing by the Employers to the Executive. The
Pro-Rated value of the Signing Bonus shall be calculated by dividing the Signing Bonus by twenty and multiplying the quotient by
(20 minus the number of months worked by the Executive). For the purposes of Repayment of the Signing Bonus, the value of the restricted
stock unit portion of the Signing Bonus will be set at the lower of the closing stock price on either (1) the date of the equity
grant or (2) the day before the Repayment of Signing Bonus is due. For the purposes of Repayment of the Signing Bonus, the value
of the stock option portion of the Signing Bonus will be set at the stock price on the date of the equity grant.

 

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(f)               
Notice of Termination. Any termination of the Executive’s employment by the Employers or by the Executive (other
than by reason of death) shall be communicated by a written Notice of Termination addressed to the other parties to this Agreement.
A “Notice of Termination” shall mean a written notice stating that the Executive’s employment with the
Employers has been or will be terminated and the specific provisions of this Section 4 under which such termination is being effected.

 

(g)              
Change of Control. For purposes of this Agreement, “Change of Control” shall mean the occurrence
of any of the following events: (i) a sale, transfer, disposition or other transaction in which the beneficial owners (as defined
in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of the total voting power of the Class A common stock
of Company immediately prior to such transaction shall cease to be the beneficial owners, directly or indirectly, of at least 50%
of the total voting power of Class A common stock of Company immediately after such transaction; (ii) the stockholders of Company approve
a plan of complete liquidation or dissolution of Company; or (iii) there is consummated in one or more transactions an agreement
for the sale or disposition by Company of all or substantially all of Company’s consolidated assets, other than any such
sale or disposition of assets immediately following which the individuals who comprise the Board immediately prior thereto (or
individuals who are elected to the Board with the affirmative vote of a majority of the individuals who comprise the Board immediately
prior thereto) constitute at least a majority of the board of directors of (a) any parent of the entity to which such assets
are sold or disposed, or (b) if there is no such parent, such entity.

 

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5.                 
Payments upon Certain Terminations.

 

(a)               
In General. Within thirty (30) days following the termination of the Executive’s employment for any reason,
the Employers shall pay the Executive: (i) the Base Salary earned but not yet paid for services rendered to the Employers on or
prior to the date on which the Employment Period ends; (ii) any Annual Bonus awarded by the Board prior to the date of the Employer’s
receipt of the Notice of Termination for services rendered in any fiscal year which had been completed prior to the date on which
the Employment Period ends and which had not previously been paid (provided that the Board did not impose a requirement that the
Executive be employed on the payment date); (iii) any business expenses incurred on or prior to the date on which the Employment
Period ends that are eligible for reimbursement in accordance with the Employers’ expense reimbursement policies as then
in effect; and (iv) any vested benefits to which the Executive is entitled under the Employers’ employee benefit plans and
any welfare benefits to which he is entitled in accordance with the terms of the Company’s welfare plans. The amounts described
in this Section 5(a) are collectively referred to herein as the “Accrued Rights.”

 

(b)              
Termination by Reason of the Executive’s Death or Disability or as a Result of Delivery of Notice of Non-Renewal.
In the event the Employment Period ends by reason of the Executive’s death or a termination of the Executive’s employment
by the Employers for Disability or the Employers or the Executive delivers a notice of non-renewal as described in Section 1 hereof,
the Employers’ sole obligation to the Executive shall be to pay the Executive an amount equal to the Accrued Rights, as set
forth in Section 5(a) hereof.

 

(c)               
Termination by the Employers without Cause or by the Executive for Good Reason. Subject to Section 5(d) hereof and
provided that the Executive is in compliance with his obligations under Section 6 and Section 7 hereof, in the event the Employment
Period ends by reason of a termination of the Executive’s employment by the Employers without Cause or by the Executive for
Good Reason, the Executive shall be entitled to:

 

(i)       The
Accrued Rights.

 

(ii)       If
the termination occurs prior to May 31, 2020, an amount equal to the Executive’s Base Salary as of the day prior to the Date
of Termination multiplied by two. If the termination occurs after May 31, 2020, an
amount equal to the Executive’s Base Salary as of the day prior to the Date of Termination. Subject to Section 8(o), the
payments under this Section 5(c)(ii) shall be made to the Executive in equal installments in accordance with the Employers’
normal payroll practices commencing on the first regularly scheduled payroll date following the effective date of the release referred
to in Section 5(d) hereof and continuing for a 24-month period following the date of termination.

 

(iii) to the extent any incentive stock awards,
such as stock options, stock appreciation rights, restricted stock, dividend equivalent rights, or any other form of incentive
stock compensation granted Executive shall have not vested, such incentive stock awards that have been granted but have not yet
vested shall immediately become fully (100%) vested and exercisable.

 

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(iv) Continued medical insurance at Employers’
expense during the eighteen-month period following the date of termination. The coverage provided pursuant to this Section 5(c)(iv)
shall run concurrently with and shall be offset against any continuation coverage under Part 6 of Title I of the Employee Retirement
Income Security Act of 1974, as amended (“COBRA Coverage”).

 

(v) Convert any existing life insurance policy
then in effect to an individual policy, to the extent permitted by the plan terms and conditions.

 

(d)        Execution
of Release. As a condition of the Executive’s right to receive any of the payments or benefits described in Section 5,
the Executive shall, within sixty (60) days after the Executive’s date of termination of employment, deliver to the Employers
a full, complete and irrevocable release of all claims or causes of action the Executive may have in respect of the Executive’s
employment by the Employers, substantially in the form attached hereto as Exhibit A (such condition, the “Release Condition”).

 

(e)               
Effect of Failure. In the event the Executive fails to satisfy the Release Condition, the Executive shall not be
entitled to any of the payments or benefits described in Section 5. Other than the Accrued Rights, In the event that, prior to
the end of a 52-week period following the Executive’s termination of employment, the Executive materially breaches any of
his obligations under Section 6 or Section 7 hereof, the Employers’ obligations to provide the payments and benefits under
Section 5(c) hereof, as applicable, shall thereupon cease and the Employers shall be entitled to recover from the Executive the
after-tax proceeds of the amounts theretofore paid to the Executive pursuant to such Section 5(c).

 

(f)               
Certain Property and Information. Upon termination of the Employment, Executive will deliver to the Company any and
all property owned or leased by the Company or any Affiliate and any and all materials and information (in whatever form) relating
to the business of the Company or any Affiliate, including without limitation all customer lists and information, financial information,
business notes, business plans, documents, keys, credit cards, phones, computers and other Company-provided equipment. All Company
property will be returned promptly and in the condition it was received except for normal wear.

 

6.                 
Proprietary Information. 

 

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(a)               
Confidentiality. The Executive acknowledges and agrees that his work for the Employers will bring him into close
contact with many confidential affairs of the Employers not readily available to the public, including plans for further developments
or activities by the Employers or their subsidiaries or affiliates. The Executive agrees that during the Employment Period and
at all times thereafter, he shall keep and retain in the strictest confidence all confidential matters (“Confidential
Information”) of the Employers and their subsidiaries and affiliates, including but not limited to, “know how,”
sales and marketing information or plans; business or strategic plans; salary, bonus or other personnel information; information
about or concerning existing, new or potential customers, franchisees, clients or shareholders; trade secrets; pricing policies;
operational methods; technical processes; inventions and research projects; and other business affairs of the Employers and their
subsidiaries or affiliates, in each case that the Executive may develop or learn in the course of his employment, and shall not
remove such Confidential Information from the Employers’ premises (other than for the purpose of working from home), use
such Confidential Information for personal gain or disclose such Confidential Information to anyone outside of the Employers, either
during or after the Employment Period, except (i) in good faith, in the course of performing his duties under this Agreement; (ii)
with the prior written consent of the Board; (iii) it being understood that Confidential Information shall not be deemed to
include any information that is or becomes generally available to the public other than as a result of disclosure by the Executive;
or (iv) to the extent disclosure is compelled by a court of competent jurisdiction, arbitrator, agency, or other tribunal
or investigative body in accordance with any applicable statute, rule or regulation (but only to the extent any such disclosure
is compelled, and no further). Further, nothing herein shall prevent the Executive from cooperating with any investigation or inquiry
conducted by the Equal Employment Opportunity Commission regarding any employment practice or policy of the Employers. In addition,
pursuant to Section 7 of the Defend Trade Secrets Act of 2016 (which added 18 U.S.C. § 1833(b)), the Executive acknowledges
that he shall not have criminal or civil liability under any federal or state trade secret law for the disclosure of a trade secret
that (A) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney
and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other
document filed in a lawsuit or other proceeding, if such filing is made under seal.  Nothing in this Agreement is intended
to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are expressly allowed by such
Section. Upon the termination of the Executive’s employment with the Employers, or at any time the Employers may so request,
the Executive shall return to the Employers all tangible embodiments (in whatever medium) relating to Confidential Information
and Work Product (as hereinafter defined) that he may then possess or have under his control.

 

(b)              
Ownership of Property. The Executive acknowledges that all discoveries, concepts, ideas, inventions, innovations,
improvements, developments, methods, processes, programs, designs, analyses, drawings, reports, patent applications, copyrightable
work and mask work (whether or not including any Confidential Information) and all registrations or applications related thereto,
all other proprietary information and all similar or related information (whether or not patentable) that relate to the Employers’
or any of their subsidiaries’ or affiliates’ actual or anticipated business, research and development, or existing
or future products or services and that are conceived, developed, contributed to, made, or reduced to practice by the Executive
(either solely or jointly with others) while employed by the Employers or any of their subsidiaries or affiliates, including any
of the foregoing that constitutes any proprietary information or records (“Work Product”) belonging to the Employers
or such subsidiary or affiliate, and the Executive hereby assigns, and agrees to assign, all of the above Work Product to the Employers
or to such subsidiary or affiliate, as applicable. Any copyrightable work prepared in whole or in part by the Executive in the
course of his work for any of the foregoing entities shall be deemed a “work made for hire” under the copyright laws,
and the Employers or their respective subsidiary or affiliate shall own all rights therein. To the extent that any such copyrightable
work is not a “work made for hire,” the Executive hereby assigns and agrees to assign to the Employers or such respective
subsidiary or affiliate all right, title, and interest, including without limitation, copyright in and to such copyrightable work.
The Executive shall perform all actions reasonably requested by the Board, at the Employers’ sole expense, to establish and
confirm the Employers’ or such subsidiary’s or affiliate’s ownership (including, without limitation, assignments,
consents, powers of attorney, and other instruments) in Work Product and copyrightable work identified by the Board.

 

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(c)               
Third Party Information. The Executive understands that the Employers and their subsidiaries and affiliates will
receive from third parties confidential or proprietary information (“Third Party Information”) subject to a
duty on the Employers’ and their subsidiaries’ and affiliates’ part to maintain the confidentiality of such information
and to use it only for certain limited purposes. During the Executive’s employment with the Employers and thereafter, and
without in any way limiting the provisions of Section 6(a) of this Agreement, the Executive shall hold Third Party Information
in the strictest confidence and shall not disclose to anyone (other than personnel and consultants of the Employers or their subsidiaries
and affiliates who need to know such information in connection with their work for the Employers or such subsidiaries and affiliates)
or use, except in connection with his work for the Employers or their subsidiaries and affiliates, Third Party Information unless
expressly authorized by the Board in writing.

 

7.                 
Restrictive Covenants. The Executive acknowledges that (i) in the course of his employment with the Employers
and their subsidiaries and affiliates, he will become familiar with the Employers’ and their subsidiaries’ and affiliates’
trade secrets and with other Confidential Information concerning the Employers and such subsidiaries and affiliates; (ii) his
services will be of special, unique and extraordinary value to the Employers and such subsidiaries and affiliates; (iii) the
agreements and covenants of the Executive contained in Section 6 and Section 7 hereof are essential to the business and goodwill
of the Employers; and (iv) the Employers would not have entered into this Agreement but for the covenants and agreements set
forth in Section 6 and Section 7 hereof. Therefore, the Executive agrees that, without limiting any other obligation pursuant to
this Agreement:

 

(a)               
Non-Competition. Except with prior written permission of the Board, the Executive shall not, during the Employment
Period and for a period of twelve (12) months thereafter,
directly or indirectly (individually or on behalf of other Persons): (i) enter (or prepare to enter) the employ of, or render
services to, any Person engaged in (a) the provision of franchising or tax preparation services or (b) any other line of business
actively being conducted by the Employers or any of their subsidiaries accounting for more than ten percent of the Employers’
gross revenues on the date of the Executive’s termination (a “Competitive Business”); (ii) engage
(or prepare to engage) in a Competitive Business on the Executive’s own account; or (iii) become interested in any such
Competitive Business, directly or indirectly, as an individual, partner, shareholder, director, officer, principal, agent, employee,
trustee, consultant, or in any other relationship or capacity; provided, however, that nothing contained in this
Section 7(a) shall be deemed to prohibit the Executive from acquiring, solely as a passive investment, less than 5% of the total
outstanding securities of any publicly-traded corporation.

 

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(b)              
Non-Solicitation. Except with prior written permission of the Board, the Executive shall not, directly or indirectly
(individually or on behalf of other persons), during the Employment Period and for a period of twelve (12)
months thereafter, for any reason hire, offer to hire or entice away any officer, employee, franchisee or agent of the
Employers or any of their subsidiaries or affiliates (or any former
officer, employee or agent of the Employers or any of their subsidiaries or affiliates who was employed by the Employers or any
of their subsidiaries or affiliates at any time during the twelve (12) month period prior to the Executive’s termination
of employment) or interfere with or attempt to interfere with business relationships between the Employers and any current
or prospective franchisee, customer, client or supplier of the Employers or any of their subsidiaries or affiliates; provided that
the foregoing shall not be violated by general advertisements not targeted at employees or consultants of either Employer.

 

(c)               
Non-Disparagement. At any time during or after the Employment Period, the Executive shall not make (whether directly
or through any other Person) any public or private statements (whether oral or in writing) which are derogatory or damaging to
the Employers or their direct or indirect parents, subsidiaries and affiliates, together with each of their current and former
principals, officers, directors, direct or indirect equity holders, general and limited partners, agents, representatives and employees,
or any of their businesses, activities, operations, affairs, reputations or prospects, and the Employers will not authorize any
of their officers, directors or employees to make disparaging or derogatory statements about the Executive (and will use its reasonable
best efforts to prevent such individuals from making such statements) except, in each case, to the extent required by law, and
only after consultation with the other party to the maximum extent possible to maintain the goodwill of such party.

 

(d)              
Injunctive Relief with Respect to Covenants. Executive acknowledges and agrees that in the event of any material
breach by Executive of any of section of this Agreement that remedies at law may be inadequate to protect the Employers, and, without
prejudice to any other legal or equitable rights and remedies otherwise available to the Employers, Executive agrees to the
granting of injunctive relief in the Employers’ favor in connection with any such breach or violation without proof of irreparable
harm.

 

(e)               
Enforcement. If, at the time of enforcement of Section 6 hereof or this Section 7, a court or other body of legal
authority holds that the restrictions stated herein are unreasonable under circumstances then existing, the parties hereto agree
that the maximum duration, scope or geographical area reasonable under such circumstances shall be substituted for the stated period,
scope or area and that the court may revise such restrictions to cover the maximum duration, scope and area permitted by law and
reasonable under such circumstances. Because the Executive’s services are unique and because the Executive has access to
Confidential Information, the parties hereto agree that the Employers and their subsidiaries and affiliates would be irreparably
harmed by, and money damages would be an inadequate remedy for, any breach of this Agreement. Therefore, in the event of a breach
or threatened breach of this Agreement, the Employers and their subsidiaries and affiliates and/or their respective successors
or assigns may, in addition to other rights and remedies existing in their favor, apply to any court of competent jurisdiction
for specific performance and/or injunctive or other relief in order to enforce, or prevent any violations of, the provisions hereof
(without posting a bond or other security).

 

    11 

     

    

8.                 
Miscellaneous.

 

(a)               
Survival. To the extent necessary to give effect to such provisions, the provisions of this Agreement (including
without limitation, Sections, 6 and 7 hereof) shall survive the termination of this Agreement, whether such termination shall be
by expiration of the Employment Period, an earlier termination pursuant to Section 4 hereof or otherwise.

 

(b)              
Binding Effect. This Agreement shall be binding on, and shall inure to the benefit of, the Employers and any person
or entity that succeeds to the interest of the Employers (regardless of whether such succession occurs by operation of law) by
reason of the sale of all or a portion of the Employers’ equity securities, a merger, consolidation or reorganization involving
the Employers or, unless the Employers otherwise elect in writing, a sale of all or a portion of the assets of the business of
the Employers. This Agreement shall also inure to the benefit of the Executive’s heirs, executors, administrators and legal
representatives.

 

(c)               
Assignment. This Agreement may not be assigned by the Executive. The Employers may assign their rights, together
with its obligations, hereunder (i) to any affiliate or subsidiary, provided that the assignor continues to be responsible for
the obligations set forth herein until discharged, or (ii) to third parties in connection with any sale, transfer or other disposition
of all or substantially all of its business or assets.

 

(d)              
Entire Agreement. This Agreement, together with Exhibit A hereto, constitutes the entire agreement between the parties
hereto with respect to the matters referred to herein and supersedes any and all prior agreements, whether written or oral. No
other agreement relating to the terms of the Executive’s employment by the Employers, oral or otherwise, shall be binding
between the parties unless it is in writing and signed by the party against whom enforcement is sought. There are no promises,
representations, inducements or statements between the parties other than those that are expressly contained herein. The Executive
acknowledges that he is entering into this Agreement of his own free will and accord, and with no duress, that he has read this
Agreement and that he understands it and its legal consequences.

 

    12 

     

    

(e)               
Severability; Reformation. In the event that one or more of the provisions of this Agreement shall become invalid,
illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein
shall not be affected thereby. In the event any covenant contained herein is not enforceable in accordance with its terms, the
Executive and the Employers agree that such provision shall be reformed to make such covenant enforceable in a manner that provides
as nearly as possible the result intended by this Agreement.

 

(f)               
Waiver. Waiver by any party hereto of any breach or default by the other party of any of the terms of this Agreement
shall not operate as a waiver of any other breach or default, whether similar to or different from the breach or default waived.
No waiver of any provision of this Agreement shall be implied from any course of dealing between the parties hereto or from any
failure by either party hereto to assert its or his rights hereunder on any occasion or series of occasions.

 

(g)              
Notices. Any notice required or desired to be delivered under this Agreement shall be in writing and shall be delivered
personally, by courier service, by registered mail, return receipt requested, or by nationally recognized overnight carrier and
shall be effective upon actual receipt by the party to which such notice shall be directed, and shall be addressed as follows (or
to such other address as the party entitled to notice shall hereafter designate in accordance with the terms hereof):

 

If to the Employers:

 

JTH Tax Inc.

1716 Corporate Landing Parkway

Virginia Beach, VA 23454

Attention: Vice President of Human Resources

 

 

If to the Executive:

 

with a copy which shall not
constitute notice to:

 

(h)              
Amendments. This Agreement may not be altered, modified or amended except by a written instrument signed by each
of the parties hereto.

 

(i)                
Headings. Headings to sections in this Agreement are for the convenience of the parties only and are not intended
to be part of or to affect the meaning or interpretation hereof.

 

(j)                
Counterparts; Electronic Transmission. This Agreement may be executed in counterparts, each of which shall be deemed
an original but all of which together shall constitute one and the same instrument. Transmission by one party to the others of
fully executed copies of this Agreement by electronically shall bind the parties to the same extent as by the exchange of manually
signed originals.

 

    13 

     

    

(k)              
Withholding. Any payments provided for herein shall be reduced by any amounts required to be withheld by the Employers
under applicable federal, state or local income or employment tax laws or similar statutes or other provisions of law then in effect.

 

(l)                
Indemnification. The Executive shall be indemnified to the same extent as other senior executives and officers of
the Employers with respect to the Executive’s service as an employee of the Employers or any of the Employers’ subsidiaries
or affiliates. During the Employment Period, the Employers shall maintain a directors and officers’ liability insurance policy
(or policies) providing coverage to the Executive to the extent that the Employers provide such coverage for any other senior executives
or officers of the Employers. Following the Employment Period, the Executive shall be entitled to such coverage to the extent that
the Employers provide such coverage for any other current or former senior executive or officer of the Employers. The Employers
shall advance to the Executive an amount necessary to cover any reasonable fees incurred by the Executive in accordance with this
Section 8(l).

 

		(i)	Right of Indemnification. The Employers shall indemnify and hold harmless, to the fullest extent permitted by applicable law
as it presently exists or may hereafter be amended, the Executive if he is made or is threatened to be made a party or is otherwise
involved in any action, suit or proceeding, whether civil, criminal, administrative or investigative (a "Proceeding"),
by reason of the fact that he, or a person for whom he the legal representative, is or was a director or officer of the Employers
or, while a director or officer of the Employers, is or was serving at the request of the Employers as a director, officer, manager,
employee or agent of another Employers or of a partnership, limited liability company, joint venture, trust, enterprise or nonprofit
entity, including service with respect to employee benefit plans, against all liability and loss suffered and expenses (including
reasonable attorneys' fees) reasonably incurred by the Executive. Notwithstanding the preceding sentence, the Employers shall be
required to indemnify, or advance expenses to, the Executive in connection with a Proceeding (or part thereof) commenced by the
Executive only if the commencement of such Proceeding (or part thereof) by the Executive was authorized by the Board of Directors.

 

		(ii)	Advancement of Expenses. The Employers shall to the fullest extent not prohibited by applicable law pay the reasonable expenses
(including reasonable attorneys' fees) incurred by the Executive in defending any Proceeding in advance of its final disposition,
provided, however, that, to the extent required by law, such payment of expenses in advance of the final disposition of the Proceeding
shall be made only upon receipt of an undertaking by the Executive to repay all amounts advanced if it should be ultimately determined
that the Executive is not entitled to be indemnified.

 

    14 

     

    

		(iii)	Claims. A claim for indemnification (following the final disposition of the Proceeding with respect to which indemnification
is sought, including any settlement of such Proceeding) or advancement of expenses under this Section 8 is not paid in full within
thirty days after a written claim therefor by the Executive has been received by the Employers, the Executive may file suit to
recover the unpaid amount of such claim and, if successful in whole or in part, shall be entitled to be paid the expense of prosecuting
such claim to the fullest extent permitted by applicable law. In any such action the Employers shall have the burden of proving
that the Executive is not entitled to the requested indemnification or advancement of expenses.

 

		(iv)	Non-Exclusivity of Rights. The rights conferred on the by this Agreement shall not be exclusive of any other rights which the
Executive may have or hereafter acquire under any statute, any provision of the Employers’ articles of incorporation, bylaws,
or any agreement, vote of stockholders or disinterested directors or otherwise.

 

(m)            
Voluntary Agreement: No Conflicts. Executive represents that he is entering into this Agreement voluntarily and that
Executive’s employment hereunder and compliance with the terms and conditions of this Agreement will not conflict with or
result in the breach by Executive of any agreement to which he is a party or by which he or his properties or assets may be bound.

 

(n)              
Governing Law.  The parties agree that:  (i) any litigation involving any enforcement of, noncompliance
with or breach of the Agreement, or regarding the interpretation, validity and/or enforceability of the Agreement,  shall
be interpreted in accordance with and governed by the laws of the Commonwealth of Virginia, without regard for any conflict of
law principles; (ii) jurisdiction and venue shall be laid solely and exclusively in the Circuit Court for the City of Virginia
Beach or the United States District Court for the Eastern District of Virginia, Norfolk Division.

 

(o)              
Code Section 409A. The intent of the parties is that payments and benefits under this Agreement comply with or be
exempt from Section 409A (“Section 409A”) of the Internal Revenue Code of 1986, as amended (the “Code”),
and this Agreement shall be interpreted and administered accordingly. Notwithstanding anything contained herein to the contrary,
the Executive shall not be considered to have terminated employment with the Employers for purposes of this Agreement, unless the
Executive would be considered to have incurred a “separation from service” from the Employers within the meaning of
Section 409A (a “Separation from Service”). Each amount to be paid or benefit to be provided under this Agreement
shall be construed as a separate identified payment for purposes of Section 409A, and any payments described in Section 5 of this
Agreement that are due within the “short-term deferral period” as defined in Section 409A shall not be treated as deferred
compensation unless applicable law requires otherwise. Notwithstanding any provision of this Agreement to the contrary, if, at
the time of the Executive’s Separation from Service, the stock of the Employers (or any successor entity) is treated as “publicly
traded” under Section 409A(a)(2)(B)(1) of the Code and the Executive is deemed to be a “specified employee” within
the meaning of said section, all payments which are subject to Section 409A as deferred compensation and which would otherwise
be required to be made upon such Separation from Service shall be made on the earlier of (i) the first day of the first month commencing
at least six (6) months following Executive’s Separation from Service or (ii) the date of the Executive’s death. To
the extent required to avoid an accelerated or additional tax under Section 409A, amounts reimbursable to the Executive under this
Agreement shall be paid to the Executive on or before the last day of the year following the year in which the expense was incurred
and the amount of expenses eligible for reimbursement during any one year may not effect amounts reimbursable or provided in any
subsequent year.

 

    15 

     

    

IN WITNESS WHEREOF, the Employers have caused
this Agreement to be executed by a duly authorized officer and the Executive has hereunto set his hand as of the day and year first
above written.

 

	 	COMPANY
	 	 	 
	 	By:	/s/ Kathleen Donovan
	 	Its:	Vice President and Chief Financial Officer
	 	 	 
	 	 	 
	 	 	Date: 4/30/2017

 

 

	 	Subco.
	 	 	 
	 	By:	/s/ Kathleen Donovan
	 	Its	Vice President and Chief Financial Officer
	 	 	 
	 	 	 
	 	 	Date: 4/30/2017

 

 

	 	Executive
	 	 	 
	 	/s/ Edward L. Brunot
	 	 	 
	 	 	Date: 5/2/2017

 

 

 

    16 

     

    

EXHIBIT A

 

Form of Release

 

 

RELEASE AGREEMENT (this “Release
Agreement”), dated as of ________________, between Liberty Tax, Inc., a Delaware corporation (“COMPANY”),
JTH Tax, Inc., a Delaware corporation (“Subco” and together with COMPANY, the “Company”),
and Edward L. Brunot (“Executive”).

 

1.                 
Release.

 

(a)               
In consideration of the payments set forth in Section 5(c) of the Employment Agreement, as applicable, between the Company
and Executive dated as of ___________, 2017 (the “Employment Agreement”), Executive, on behalf of himself and
his heirs, executors, successors and assigns, knowingly and voluntarily releases, remises, and forever discharges the Company and
its direct or indirect parents, subsidiaries and affiliates, together with each of their current and former principals, officers,
directors, direct or indirect equityholders, general and limited partners, agents, representatives and employees, and each of their
heirs, executors, successors and assigns (collectively, the “Releasees”), from any and all debts, demands, actions,
causes of actions, accounts, covenants, contracts, agreements, claims, damages, omissions, promises, and any and all claims and
liabilities whatsoever, of every name and nature, known or unknown, suspected or unsuspected, both in law and equity (“Claims”),
which Executive ever had, now has, or may hereafter claim to have against the Releasees by reason of any matter, cause or thing
whatsoever arising from the beginning of time to the time he signs this Release Agreement (the “General Release”).
This General Release of Claims shall apply to any Claim of any type, including, without limitation, any and all Claims of any type
that Executive may have arising under the common law, under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of
1991, the Age Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act, the Americans With Disabilities
Act of 1967, the Family and Medical Leave Act of 1993, the Employee Retirement Income Security Act of 1974, the Sarbanes-Oxley
Act of 2002, each as amended, and any other federal, state or local statutes, regulations, ordinances or common law, or under any
policy, agreement, contract, understanding or promise, written or oral, formal or informal, between any of the Releasees and Executive,
including but not limited to the Employment Agreement, and Company’s Equity and Cash Incentive Plan and shall further apply,
without limitation, to any and all Claims in connection with, related to or arising out of Executive’s employment relationship,
or the termination of his employment, with the Company.

 

(b)              
Except as provided in Section 5(c) of the Employment Agreement, as applicable, Executive acknowledges and agrees that the
Company has fully satisfied any and all obligations owed to him arising out of his employment with the Company, and no further
sums are owed to him by the Company or by any of the other Releasees at any time. The Company shall provide Executive with a schedule
showing the specific amounts due to him under each subparagraph of Section 5(c) of the Employment Agreement, to the extent then
ascertainable, not later than ten days from the date of any separation from service.

 

     

     

    

(c)               
The foregoing waiver and release shall not extend to the following: (i) any rights, remedies or claims Executive may
have in enforcing the terms of the Employment Agreement with respect to amounts due to Executive in connection with his termination
of employment as, and to the extent, provided in Section 5(c) of the Employment Agreement, as applicable, or in enforcing the terms
of this Release Agreement, (ii) any rights Executive may have to receive vested amounts under any of the Company’s (or any
affiliate’s) employee benefit plans and/or pension plans or programs and the Company’s Equity and Cash Incentive Plan;
(iii) Executive’s rights to medical benefit continuation coverage, on a self-pay basis, pursuant to federal law (COBRA);
(iv) Executive’s eligibility for, or right to receive, indemnification and advancement of expenses in accordance with applicable
laws, the certificate of incorporation and/or by-laws of the Company or any affiliate, or under the Employment Agreement or under
any of the governing agreements of the Company or any affiliate, or coverage under any applicable directors and officers policy
or otherwise; (v) any rights Executive may have to obtain contribution as permitted by law in the event of entry of judgment against
Executive as a result of any act or failure to act for which the Company or any of the Releasees and Executive are jointly liable;
and (vi) any rights or claims that may not be lawfully released and/or waived (including any rights to workers’ compensation
or unemployment insurance).

 

2.                 
Consultation with Attorney; Voluntary Agreement. The Company advises Executive to consult with an attorney of his
choosing prior to signing this Release Agreement. Executive understands and agrees that he has the right and has been given the
opportunity to review this Release Agreement and, specifically, the General Release in Paragraph 1 above, with an attorney. Executive
also understands and agrees that he is under no obligation to consent to the General Release set forth in Paragraph 1 above. Executive
acknowledges and agrees that the payments set forth in Section 5(c) of the Employment Agreement, as applicable, are sufficient
consideration to require him to abide with his obligations under this Release Agreement, including but not limited to the General
Release set forth in Paragraph 1. Executive represents that he has read this Release Agreement, including the General Release set
forth in Paragraph 1 and understands its terms and that he enters into this Release Agreement freely, voluntarily, and without
coercion. Notwithstanding the foregoing, nothing contained herein shall prevent Executive from filing an administrative charge
of discrimination with the EEOC or state or local fair employment practices agency. No federal, state or local government agency
is a party to this Agreement and none of the provisions of this Agreement restrict or in any way affect a government agency’s
authority to investigate or seek relief in connection with any of the claims released. However, if a government agency were to
pursue any matters falling within the released claims, which it is free to do, the parties agree that this Agreement shall control
as the exclusive remedy and full settlement of all claims between the parties. Executive agrees that Executive shall not seek,
accept, or be entitled to any monetary relief, whether individually or as a member of a class or group, arising from an EEOC charge
filed by Executive or on Executive’s behalf.

 

    2 

     

    

3.                 
No Admission of Liability. Nothing in this Agreement is intended to or will be construed as an admission by the Company
that it or any of its officer’s directors or employees, violated any law, interfered with any right, breached any obligation,
or otherwise engaged in any improper or illegal conduct, the Released Parties expressly denying any such conduct.

 

4.                 
Effective Date; Revocation. Executive acknowledges and represents that he has been given at least twenty-one (21)
days during which to review and consider the provisions of this Release Agreement and, specifically, the General Release set forth
in Paragraph 1 above, although he may sign and return it sooner if he so desires. Executive further acknowledges and represents
that he has been advised by the Company that he has the right to revoke this Release Agreement for a period of seven (7) days after
signing it. Executive acknowledges and agrees that, if he wishes to revoke this Release Agreement, he must do so in a writing,
signed by him and received by the Company no later than 5:00 p.m. Eastern Time on the seventh (7th) day of the revocation period.
If no such revocation occurs, the General Release and this Release Agreement shall become effective on the eighth (8th) day following
his execution of this Release Agreement. Executive further acknowledges and agrees that, in the event that he revokes this Release
Agreement, it shall have no force or effect, and he shall have no right to receive any payment pursuant to Section 5(c) of the
Employment Agreement, as applicable.

 

5.                 
Time for Execution. Absent a bona fide dispute as to the amount due in connection with any separation from service,
the Executive shall execute this Release Agreement not later than 21 days from the date the schedule of payments is provided to
him as provided in Paragraph 1(b) hereof.

 

6.                 
Severability. In the event that any one or more of the provisions of this Release Agreement shall be held to be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remainder of the Release Agreement shall not in any
way be affected or impaired thereby.

 

7.                 
Waiver. No waiver by either party of any breach by the other party of any condition or provision of this Release
Agreement to be performed by such other party shall be deemed a waiver of any other provision or condition at the time or at any
prior or subsequent time. This Release Agreement and the provisions contained in it shall not be construed or interpreted for or
against either party because that party drafted or caused that party’s legal representative to draft any of its provisions.

 

8.                 
Governing Law. This Release Agreement shall be governed by and construed and enforced in accordance with the laws
of the Commonwealth of Virginia, without reference to its choice of law rules.

 

9.                 
Entire Agreement. This Release Agreement constitutes the entire agreement and understanding of the parties with respect
to the release of claims provided for herein and supersedes all prior agreements, arrangements and understandings, written or oral,
between the parties with respect to such release of claims. Executive acknowledges and agrees that he is not relying on any representations
or promises by any representative of the Company concerning the meaning of any aspect of this Release Agreement. This Release Agreement
may not be altered or modified other than in a writing signed by Executive and an authorized representative of the Company.

 

    3 

     

    

10.             
Headings. All descriptive headings in this Release Agreement are inserted for convenience only and shall be disregarded
in construing or applying any provision of this Release Agreement.

 

11.             
Counterparts. This Release Agreement may be executed in counterparts, each of which shall be deemed an original but
all of which together shall constitute one and the same instrument.

 

 

 

IN WITNESS WHEREOF, the Company and Executive
have executed this Release Agreement, on the date and year set forth below.

 

 

 

	 	COMPANY
	 	 	 
	 	By:	 
	 	 	Name:       
	 	 	Title:
	 	 	 
	 	 	Date:

 

 

	 	Subco.
	 	 	 
	 	By:	 
	 	 	Name:       
	 	 	Title:
	 	 	 
	 	 	Date:

 

 

	 	Executive
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	Date:

 

 

4Q2POWER
TECHNOLOGIES, INC.

 

2016
OMNIBUS EQUITY INCENTIVE PLAN

 

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

 

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

 

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

 

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

 

(b)
“Applicable Laws” means the requirements relating to the administration of equity-based awards under U.S. state
corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock
is listed or quoted and the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under
the Plan.

 

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

 

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

 

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

 

(f)
“Change in Control” except as may otherwise be provided in a Stock Option Agreement, Restricted Stock Agreement
or other applicable agreement, means the occurrence of any of the following:

 

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

 

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

 

    	1 

     

    

 

(iii)
A change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced
during any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of
the Board prior to the date of the appointment or election. For purposes of this clause, if any Person (as defined below in Section
2(f)(iv)) is considered to be in effective control of the Company, the acquisition of additional control of the Company by the
same Person will not be considered a Change in Control;

 

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

 

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

 

(2)
a corporation or other entity owned directly or indirectly by the shareholders of the Company in substantially the same proportions
as their ownership of the common stock of the Company;

 

(3)
the Company; and

 

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

 

(v)
A complete winding up, liquidation or dissolution of the Company.

 

A
transaction shall not constitute a Change in Control if its sole purpose is to change the state of the Company’s incorporation
or to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s
securities immediately before such transactions.

 

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

 

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

 

(i)
“Common Stock” means the common stock of the Company.

 

(j)
“Company” means Q2Power Technologies, Inc., a Delaware corporation, or any successor thereto.

 

(k)
“Consultant” means any person, including an advisor, engaged by the Company or a Parent or Subsidiary to render
services to such entity.

 

    	2 

     

    

 

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

 

(m)
“Disability” means total and permanent disability as defined in Section 22(e)(3) of the Code, provided that
in the case of Awards other than Incentive Stock Options, the Administrator in its discretion may determine whether a permanent
and total disability exists in accordance with uniform and non-discriminatory standards adopted by the Administrator from time
to time.

 

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

 

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

 

(p)
“Exchange Program” means a program established by the Committee under which outstanding Awards are amended
to provide for a lower Exercise Price or surrendered or cancelled in exchange for (i) Awards with a lower exercise price, (ii)
a different type of Award or awards under a different equity incentive plan, (iii) cash, or (iv) a combination of (i), (ii) and/or
(iii). Notwithstanding the preceding, the term Exchange Program does not include any (i) action described in Section 13 or any
action taken in connection with a change in control transaction nor (ii) transfer or other disposition permitted under Section
12. For the purpose of clarity, each of the actions described in the prior sentence, none of which constitute an Exchange Program,
may be undertaken (or authorized) by the Committee in its sole discretion without approval by the Company’s shareholders.

 

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

 

(i)
If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the
New York Stock Exchange, the Nasdaq Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market of The Nasdaq
Stock Market, its Fair Market Value will be the closing sales price for such stock (or the closing bid, if no sales were reported)
as quoted on such exchange or system on the day of determination, as reported in The Wall Street Journal or such other
source as the Administrator deems reliable;

 

(ii)
If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, or if the Common
Stock is quoted on the Over-the-Counter (OTC) market, be that the OTCQB, OTCBB or Pink Sheets, the Fair Market Value of a Share
will be the mean between the high bid and low asked prices for the Common Stock on the day of determination, as reported in The
Wall Street Journal, the OTC, or such other source as the Administrator deems reliable;

 

(iii)
For purposes of any Awards granted on the Registration Date, the Fair Market Value will be the initial price to the public as
set forth in the final prospectus included within the registration statement in Form S-1 filed with the Securities and Exchange
Commission for the initial public offering of the Company’s Common Stock; or

 

(iv)
In the absence of an established market for the Common Stock, the Fair Market Value will be determined in good faith by the Administrator.

 

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

 

    	3 

     

    

 

(s)
“Incentive Stock Option” means an Option intended to qualify as an incentive stock option within the meaning
of Section 422 of the Code and the regulations promulgated thereunder.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(aa)
“Performance Goal” means a performance goal established by the Committee pursuant to Section 10(c) of the Plan.

 

(bb)
“Performance Share” means an Award denominated in Shares which may be earned in whole or in part upon attainment
of Performance Goals or other vesting criteria as the Administrator may determine pursuant to Section 10.

 

(cc)
“Performance Unit” means an Award which may be earned in whole or in part upon attainment of Performance Goals
or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or
a combination of the foregoing pursuant to Section 10.

 

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

 

(ee)
“Plan” means this 2016 Omnibus Equity Incentive Plan.

 

(ff)
“Registration Date” means the effective date of the first registration statement that is filed by the Company
and declared effective pursuant to Section 12(g) of the Exchange Act, with respect to any class of the Company’s securities.

 

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

 

    	4 

     

    

 

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

 

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

 

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

 

(kk)
“Service Provider” means an Employee, Director or Consultant.

 

(ll)
“Share” means a share of the Common Stock, as adjusted in accordance with Section 13 of the Plan.

 

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

 

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

 

3.
Stock Subject to the Plan.

 

(a)
Stock Subject to the Plan. Subject to the provisions of Section 13 of the Plan, the maximum aggregate number of Shares
that may be issued under the Plan is 4,000,000 Shares (the “Initial Share Reserve”). The Shares may be authorized,
but unissued, or reacquired Common Stock. Notwithstanding the foregoing and, subject to adjustment as provided in Section 13,
the maximum number of Shares that may be issued upon the exercise of Incentive Stock Options will equal the aggregate Share number
stated in this Section 3(a), plus, to the extent allowable under Section 422 of the Code and the Treasury Regulations promulgated
thereunder, any Shares that become available for issuance under the Plan pursuant to Sections 3(b) and 3(c).

 

(b)
Automatic Share Reserve Increase. The number of Shares available for issuance under the Plan will be increased on the first
day of each Fiscal Year beginning with the 2017 Fiscal Year, in an amount equal to the least of (i) 1,500,000 Shares, (ii) three
percent (3%) of the outstanding Shares on the last day of the immediately preceding Fiscal Year or (iii) such number of Shares
determined by the Board.

 

(c)
Lapsed Awards. To the extent an Award expires, is surrendered pursuant to an Exchange Program or becomes unexercisable
without having been exercised or, with respect to Restricted Stock, Restricted Stock Units, Performance Units or Performance Shares,
is forfeited to or repurchased by the Company due to failure to vest, the unpurchased Shares (or for Awards other than Options
or Stock Appreciation Rights the forfeited or repurchased Shares), which were subject thereto will become available for future
grant or sale under the Plan (unless the Plan has terminated). Notwithstanding the foregoing (and except with respect to Shares
of Restricted Stock that are forfeited rather than vesting), Shares that have actually been issued under the Plan under any Award
will not be returned to the Plan and will not become available for future distribution under the Plan; provided, however, that
if Shares issued pursuant to Awards of Restricted Stock, Restricted Stock Units, Performance Shares or Performance Units are repurchased
by the Company or are forfeited to the Company, such Shares will become available for future grant under the Plan. Shares used
to pay the exercise price of an Award or to satisfy the tax withholding obligations related to an Award will become available
for future grant or sale under the Plan. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash
payment will not result in reducing the number of Shares available for issuance under the Plan.

 

    	5 

     

    

 

4.
Administration of the Plan.

 

(a)
Procedure.

 

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

 

(ii)
Section 162(m). To the extent that the Administrator determines it to be desirable to qualify Awards granted hereunder
as “performance-based compensation” within the meaning of Section 162(m) of the Code, the Plan will be administered
by a Committee of two (2) or more “outside directors” within the meaning of Section 162(m) of the Code.

 

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

 

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

 

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

 

(i)
to determine the Fair Market Value;

 

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

 

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

 

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

 

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

 

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

 

(vii)
to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations established for the
purpose of satisfying applicable foreign laws, for qualifying for favorable tax treatment under applicable foreign laws or facilitating
compliance with foreign laws; sub-plans may be created for any of these purposes;

 

    	6 

     

    

 

(viii)
to modify or amend each Award (subject to Section 18 of the Plan), including but not limited to the discretionary authority to
extend the post-termination exercisability period of Awards and to extend the maximum term of an Option (subject to Section 6(b)
of the Plan regarding Incentive Stock Options);

 

(ix)
to allow Participants to satisfy withholding tax obligations in such manner as prescribed in Section 14 of the Plan;

 

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

 

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

 

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

 

(c)
Effect of Administrator’s Decision. The Administrator’s decisions, determinations and interpretations will
be final and binding on all Participants and any other holders of Awards.

 

(d)
Exchange Program. Notwithstanding the anything in this Section 4, the Committee shall not implement an Exchange Program
without the approval of the holders of a majority of the Shares that are present in person or by proxy and entitled to vote at
any annual or special meeting of Company’s shareholders.

 

(e)
Delegation by the Committee. The Committee, in its sole discretion and on such terms and conditions as it may provide,
may delegate all or any part of its authority and powers under the Plan to one or more Directors or officers of the Company; provided,
however, that the Committee may not delegate its authority and powers (a) with respect to an Officer or (b) in any way which would
jeopardize the Plan’s qualification under Code Section 162(m) or Rule 16b-3.

 

5.
Award Eligibility and Limitations.

 

(a)
Award Eligibility. Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance
Shares and Performance Units may be granted to any qualified person including Service Providers. Incentive Stock Options may be
granted only to Employees, Officers and Directors.

 

(b)
Award Limitations. The following limits shall apply to the grant of any Award if, at the time of grant, the Company is
a “publicly held corporation” within the meaning of Section 162(m) of the Code:

 

(i)
Options and Stock Appreciation Rights. Subject to adjustment as provided in Section 13, no Employee shall be granted within
any fiscal year of the Company one or more Options or Stock Appreciation Rights, which in the aggregate cover more than 500,000
Shares reserved for issuance under the Plan; provided, however, that in connection with an Employee’s initial service as
an Employee, an Employee may be granted Options or Stock Appreciation Rights, which in the aggregate cover up to an additional
2,000,000 Shares reserved for issuance under the Plan.

 

    	7 

     

    

 

(ii)
Restricted Stock and Restricted Stock Units. Subject to adjustment as provided in Section 13, no Employee shall be granted
within any fiscal year of the Company one or more awards of Restricted Stock or Restricted Stock Units, which in the aggregate
cover more than 500,000 Shares reserved for issuance under the Plan; provided, however, that in connection with an Employee’s
initial service as an Employee, an Employee may be granted Restricted Stock or Restricted Stock Units s, which in the aggregate
cover up to an additional 1,000,000 Shares reserved for issuance under the Plan.

 

(iii)
Performance Units and Performance Shares. Subject to adjustment as provided in Section 13, no Employee shall receive Performance
Units or Performance Shares having a grant date value (assuming maximum payout) greater than two million dollars ($2 million)
or covering more than 500,000 Shares, whichever is greater; provided, however, that in connection with an Employee’s initial
service as an Employee, an Employee may receive Performance Units or Performance Shares having a grant date value (assuming maximum
payout) of up to an additional amount equal five million dollars ($5 million) or covering up to 1,000,000 Shares, whichever is
greater. No Participant may be granted more than one award of Performance Units or Performance Shares for the same Performance
Period.

 

6.
Stock Options.

 

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

 

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

 

(c)
Option Exercise Price and Consideration.

 

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

 

(1)
In the case of an Incentive Stock Option

 

    	8 

     

    

 

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

 

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

 

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

 

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

 

(ii)
Waiting Period and Exercise Dates. At the time an Option is granted, the Administrator will fix the period within which
the Option may be exercised and will determine any conditions that must be satisfied before the Option may be exercised.

 

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

 

(d)
Exercise of Option.

 

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

 

An
Option will be deemed exercised when the Company receives: (i) a notice of exercise (in such form as the Administrator may specify
from time to time) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which
the Option is exercised (together with applicable withholding taxes). Full payment may consist of any consideration and method
of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. Shares issued upon exercise of an
Option will be issued in the name of the Participant or, if requested by the Participant, in the name of the Participant and his
or her spouse. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder will exist with respect
to the Shares subject to an Option, notwithstanding the exercise of the Option. The Company will issue (or cause to be issued)
such Shares promptly after the Option is exercised. No adjustment will be made for a dividend or other right for which the record
date is prior to the date the Shares are issued, except as provided in Section 13 of the Plan.

 

    	9 

     

    

 

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

 

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

 

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

 

7.
Restricted Stock.

 

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

 

(b)
Restricted Stock Agreement. Each Award of Restricted Stock will be evidenced by an Award Agreement that will specify the
Period of Restriction, the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion,
will determine. Unless the Administrator determines otherwise, the Company as escrow agent will hold Shares of Restricted Stock
until the restrictions on such Shares have lapsed.

 

    	10 

     

    

 

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

 

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

 

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

 

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

 

(g)
Dividends and Other Distributions. During the Period of Restriction, Employees and Service Providers holding Shares of
Restricted Stock will be entitled to receive all dividends and other distributions paid with respect to such Shares, unless the
Administrator provides otherwise. If any such dividends or distributions are paid in Shares, the Shares will be subject to the
same restrictions on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid.

 

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

 

8.
Restricted Stock Units.

 

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

 

(b)
Vesting Criteria and Other Terms. The Administrator will set vesting criteria in its discretion, which, depending on the
extent to which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant.
The Administrator may set vesting criteria based upon the achievement of Company-wide, business unit, or individual goals (including,
but not limited to, continued employment), or any other basis (including the passage of time) determined by the Administrator
in its discretion.

 

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

 

    	11 

     

    

 

(d)
Dividend Equivalents. The Administrator may, in its sole discretion, award dividend equivalents in connection with the
grant of Restricted Stock Units that may be settled in cash, in Shares of equivalent value, or in some combination thereof.

 

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

 

(f)
Cancellation. On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be forfeited to the
Company.

 

9.
Stock Appreciation Rights.

 

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

 

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

 

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

 

(d)
Stock Appreciation Right Agreement. Each Stock Appreciation Right grant will be evidenced by an Award Agreement that will
specify the exercise price, the term of the Stock Appreciation Right, the conditions of exercise, and such other terms and conditions
as the Administrator, in its sole discretion, will determine.

 

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

 

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

 

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

 

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

 

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

 

    	12 

     

    

 

10.
Performance Units and Performance Shares.

 

(a)
Grant of Performance Units/Shares. Performance Units and Performance Shares may be granted to Service Providers at any
time and from time to time, as will be determined by the Administrator, in its sole discretion. The Administrator will have complete
discretion in determining the number of Performance Units and Performance Shares granted to each Participant.

 

(b)
Value of Performance Units/Shares. Each Performance Unit will have an initial value that is established by the Administrator
on or before the date of grant. Each Performance Share will have an initial value equal to the Fair Market Value of a Share on
the date of grant.

 

(c)
Performance Objectives and Other Terms. The Administrator will set Performance Goals or other vesting provisions (including,
without limitation, continued status as a Service Provider) in its discretion which, depending on the extent to which they are
met, will determine the number or value of Performance Units/Shares that will be paid out to the Service Providers. The time period
during which the performance objectives or other vesting provisions must be met will be called the “Performance Period.”
Each Award of Performance Units/Shares will be evidenced by an Award Agreement that will specify the Performance Period, and such
other terms and conditions as the Administrator, in its sole discretion, will determine. The Administrator may set performance
objectives based upon the achievement of Company-wide, divisional, or individual goals, applicable federal or state securities
laws, or any other basis determined by the Administrator in its discretion.

 

(d)
Measurement of Performance Goals. Performance Goals shall be established by the Committee on the basis of targets to be
attained (“Performance Targets”) with respect to one or more measures of business or financial performance
(each, a “Performance Measure”), subject to the following:

 

(i)
Performance Measures. For each Performance Period, the Committee shall establish and set forth in writing the Performance
Measures, if any, and any particulars, components and adjustments relating thereto, applicable to each Participant. The Performance
Measures, if any, will be objectively measurable and will be based upon the achievement of a specified percentage or level in
one or more objectively defined and non-discretionary factors preestablished by the Committee. Performance Measures may be one
or more of the following, as determined by the Committee: (i) sales or non-sales revenue; (ii) return on revenues; (iii) operating
income; (iv) income or earnings including operating income; (v) income or earnings before or after taxes, interest, depreciation
and/or amortization; (vi) income or earnings from continuing operations; (vii) net income; (vii) pre-tax income or after-tax income;
(viii) net income excluding amortization of intangible assets, depreciation and impairment of goodwill and intangible assets and/or
excluding charges attributable to the adoption of new accounting pronouncements; (ix) raising of financing or fundraising; (x)
project financing; (xi) revenue backlog; (xii) power purchase agreement backlog; (xiii) gross margin; (xiv) operating margin or
profit margin; (xv) capital expenditures, cost targets, reductions and savings and expense management; (xvi) return on assets
(gross or net), return on investment, return on capital, or return on shareholder equity; (xvii) cash flow, free cash flow, cash
flow return on investment (discounted or otherwise), net cash provided by operations, or cash flow in excess of cost of capital;
(xviii) performance warranty and/or guarantee claims; (xix) stock price or total stockholder return; (xx) earnings or book value
per share (basic or diluted); (xxi) economic value created; (xxii) pre-tax profit or after-tax profit; (xxiii) strategic business
criteria, consisting of one or more objectives based on meeting specified market penetration or market share, geographic business
expansion, objective customer satisfaction or information technology goals; (xxiv) objective goals relating to divestitures, joint
ventures, mergers, acquisitions and similar transactions; (xxv) construction projects consisting of one or more objectives based
upon meeting project completion timing milestones, project budget, site acquisition, site development, or site equipment functionality;
(xxvi) objective goals relating to staff management, results from staff attitude and/or opinion surveys, staff satisfaction scores,
staff safety, staff accident and/or injury rates, headcount, performance management, completion of critical staff training initiatives;
(xxvii) objective goals relating to projects, including project completion timing milestones, project budget; (xxviii) key regulatory
objectives; and (xxix) enterprise resource planning.

 

    	13 

     

    

 

(ii)
Committee Discretion on Performance Measures. As determined in the discretion of the Committee, the Performance Measures
for any Performance Period may (a) differ from Participant to Participant and from Award to Award, (b) be based on the performance
of the Company as a whole or the performance of a specific Participant or one or more subsidiaries, divisions, departments, regions,
stores, segments, products, functions or business units of the Company or individual project company, (c) be measured on a per
share, per capita, per unit, per square foot, per employee, per store basis, and/or other objective basis (d) be measured on a
pre-tax or after-tax basis, and (e) be measured on an absolute basis or in relative terms (including, but not limited to, the
passage of time and/or against other companies, financial metrics and/or an index). Without limiting the foregoing, the Committee
shall adjust any performance criteria, Performance Measures or other feature of an Award that relates to or is wholly or partially
based on the number of, or the value of, any stock of the Company, to reflect any stock dividend or split, repurchase, recapitalization,
combination, or exchange of shares or other similar changes in such stock. Awards that are not intended by the Company to comply
with the performance-based compensation exception under Code Section 162(m) may take into account other factors (including subjective
factors).

 

(e)
Earning of Performance Units/Shares. After the applicable Performance Period has ended, the holder of Performance Units/Shares
will be entitled to receive a payout of the number of Performance Units/Shares earned by the Participant over the Performance
Period, to be determined as a function of the extent to which the corresponding Performance Goals or other vesting provisions
have been achieved. After the grant of a Performance Unit/Share, the Administrator, in its sole discretion, may reduce or waive
any Performance Goals or other vesting provisions for such Performance Unit/Share.

 

(f)
Form and Timing of Payment of Performance Units/Shares. Payment of earned Performance Units/Shares will be made upon the
time set forth in the applicable Award Agreement. The Administrator, in its sole discretion, may pay earned Performance Units/Shares
in the form of cash, in Shares (which have an aggregate Fair Market Value equal to the value of the earned Performance Units/Shares
at the close of the applicable Performance Period) or in a combination thereof.

 

(g)
Cancellation of Performance Units/Shares. On the date set forth in the Award Agreement, all unearned or unvested Performance
Units/Shares will be forfeited to the Company, and again will be available for grant under the Plan.

 

11.
Leaves of Absence/Transfer Between Locations. Unless the Administrator provides otherwise, vesting of Awards granted hereunder
will be suspended during any unpaid leave of absence unless contrary to Applicable Law. A Participant will not cease to be an
Employee in the case of (i) any leave of absence approved by the Participant’s employer or (ii) transfers between locations
of the Company or between the Company, its Parent, or any Subsidiary. For purposes of Incentive Stock Options, no such leave may
exceed three (3) months, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment
upon expiration of a leave of absence approved by the Participant’s employer is not so guaranteed, then six (6) months following
the first (1st) day of such leave any Incentive Stock Option held by the Participant will cease to be treated as an Incentive
Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option.

 

    	14 

     

    

 

12.
Transferability of Awards. Unless determined otherwise by the Administrator, an Award may not be sold, pledged, assigned,
hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be
exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes an Award transferable,
such Award will contain such additional terms and conditions as the Administrator deems appropriate.

 

13.
Adjustments; Dissolution or Liquidation; Merger or Change in Control.

 

(a)
Adjustments. In the event of a stock split, reverse stock split, stock dividend, combination, consolidation, recapitalization
(including a recapitalization through a large nonrecurring cash dividend) or reclassification of the Shares, subdivision of the
Shares, a rights offering, a reorganization, merger, spin-off, split-up, repurchase, or exchange of Common Stock or other securities
of the Company or other significant corporate transaction, or other change affecting the Common Stock occurs, the Administrator,
in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan,
will, in such manner as it may deem equitable, adjust the number, kind and class of securities that may be delivered under the
Plan and/or the number, class, kind and price of securities covered by each outstanding Award, the numerical Share limits in Section
3 of the Plan. Notwithstanding the forgoing, all adjustments under this Section 13 shall be made in a manner that does not result
in taxation under Code Section 409A.

 

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

 

(c)
Change in Control. In the event of a merger or Change in Control, each outstanding Award will be treated as the Administrator
determines, including, without limitation, that each Award be assumed, cancelled or an equivalent option or right substituted
by the successor corporation or a Parent or Subsidiary of the successor corporation. The Administrator will not be required to
treat all Awards similarly in the transaction.

 

Except
as set forth in an Award Agreement, in the event that the successor corporation does not assume or substitute for the Award, the
Participant will fully vest in and have the right to exercise all of his or her outstanding Options and Stock Appreciation Rights,
including Shares as to which such Awards would not otherwise be vested or exercisable, all restrictions on Restricted Stock and
Restricted Stock Units will lapse, and, with respect to Awards with performance-based vesting, all Performance Goals or other
vesting criteria will be deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions met.
In addition, if an Option or Stock Appreciation Right is not assumed or substituted in the event of a Change in Control, the Administrator
will notify the Participant in writing or electronically that the Option or Stock Appreciation Right will be exercisable for a
period of time determined by the Administrator in its sole discretion, and the Option or Stock Appreciation Right will terminate
upon the expiration of such period.

 

For
the purposes of this subsection (c), an Award will be considered assumed if, following the Change in Control, the Award confers
the right to purchase or receive, for each Share subject to the Award immediately prior to the Change in Control, the consideration
(whether stock, cash, or other securities or property) received in the Change in Control by holders of Common Stock for each Share
held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration
chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration received in the
Change in Control is not solely common stock of the successor corporation or its Parent, the Administrator may, with the consent
of the successor corporation, provide for the consideration to be received upon the exercise of an Option or Stock Appreciation
Right or upon the payout of a Restricted Stock Unit, Performance Unit or Performance Share, for each Share subject to such Award,
to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration
received by holders of Common Stock in the Change in Control.

 

    	15 

     

    

 

Notwithstanding
anything in this Section 13(c) to the contrary, an Award that vests, is earned or paid-out upon the satisfaction of one or more
Performance Goals will not be considered assumed if the Company or its successor modifies any of such Performance Goals without
the Participant’s consent; provided, however, a modification to such Performance Goals only to reflect the successor corporation’s
post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption.

 

14.
Tax.

 

(a)
Withholding Requirements. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise thereof) or prior
to any time the Award or Shares are subject to taxation, the Company and/or the Participant’s employer will have the power
and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal,
state, local, foreign or other taxes (including the Participant’s FICA obligation or social insurance contributions) required
to be withheld with respect to such Award (or exercise thereof).

 

(b)
Withholding Arrangements. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from
time to time, may permit a Participant to satisfy such tax withholding obligation, in whole or in part by (without limitation)
(a) paying cash, (b) electing to have the Company withhold otherwise deliverable cash or Shares having a Fair Market Value equal
to the minimum statutory amount required to be withheld (to the extent required to avoid adverse accounting consequences), or
(c) delivering to the Company already-owned Shares having a Fair Market Value equal to the minimum statutory amount required to
be withheld to the extent required to avoid adverse accounting consequences or Shares having a Fair Market Value in excess of
such amount that have been held for such period required to avoid adverse accounting consequences. Except as otherwise determined
by the Administrator, the Fair Market Value of the Shares to be withheld or delivered will be determined as of the date that the
taxes are required to be withheld.

 

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

 

15.
No Effect on Employment or Service. Neither the Plan nor any Award will confer upon a Participant any right with respect
to continuing the Participant’s relationship as a Service Provider with the Company, or (if different) the Participant’s
employer, nor will they interfere in any way with the Participant’s right or the Participant’s employer’s right
to terminate such relationship at any time, with or without cause, to the extent permitted by Applicable Laws.

 

    	16 

     

    

 

16.
Date of Grant. The date of grant of an Award will be, for all purposes, the date on which the Administrator makes the determination
granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided
to each Participant within a reasonable time after the date of such grant.

 

17.
Term of Plan. Subject to Section 21 of the Plan, the Plan will become effective upon the earlier of its adoption by the
Board or the Company’s shareholders. It will continue in effect for a term of ten (10) years from such effective date, unless
terminated earlier under Section 18 of the Plan.

 

18.
Amendment and Termination of the Plan.

 

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

 

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

 

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

 

19.
Conditions Upon Issuance of Shares.

 

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

 

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

 

20.
Inability to Obtain Authority. The inability of the Company to obtain authority from any regulatory body having jurisdiction,
which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder,
will relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority
will not have been obtained.

 

21.
Stockholder Approval. The Plan will be subject to approval by the stockholders of the Company within twelve (12) months
after the date the Plan is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required
under Applicable Laws.

 

22.
Governing Law. The Plan and all Awards hereunder shall be construed in accordance with and governed by the laws of the
State of New York, but without regard to its conflict of law provisions.

 

    	17 

     

    

 

Q2POWER
TECHNOLOGIES, INC.

2016
OMNIBUS EQUITY INCENTIVE PLAN

 

STOCK
OPTION AWARD AGREEMENT

 

Unless
otherwise defined herein, the terms defined in the Q2Power Technologies, Inc. 2016 Omnibus Equity Incentive Plan (the “Plan”)
will have the same defined meanings in this Stock Option Award Agreement (the “Award Agreement”).

 

I.
NOTICE OF STOCK OPTION GRANT

 

Participant
Name:

 

Address:

 

You
have been granted an Option to purchase Common Stock of Q2Power Technologies, Inc. (the “Company”),
subject to the terms and conditions of the Plan and this Award Agreement, as follows:

 

	Grant
    Number	 
	 	 
	Date
    of Grant	 
	 	 
	Vesting
    Commencement Date	 
	 	 
	Exercise
    Price per Share	$
	 	 
	Total
    Number of Shares Granted	 
	 	 
	Total
    Exercise Price	$
	 	 
	Type
    of Option:	U.S.
Incentive Stock Option
	 	 
	 	U.S.
Nonstatutory Stock Option

 

Term/Expiration
Date:

 

Vesting
Schedule:

 

Subject
to Section 2 of the Award Agreement and any acceleration provisions contained in the Plan or set forth below, this Option may
be exercised, in whole or in part, in accordance with the following schedule:

 

[INSERT
VESTING SCHEDULE]

 

Termination
Period:

 

This
Option will be exercisable for three (3) months after Participant ceases (as defined in Section 2 of the Award Agreement) to be
a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option will
be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing, in no
event may this Option be exercised after the Term/Expiration Date as provided above and may be subject to earlier termination
as provided in Section 13 of the Plan.

 

    	18 

     

    

 

By
Participant’s signature and the signature of the Company’s representative below, Participant and the Company agree
that this Option is granted under and governed by the terms and conditions of the Plan and this Award Agreement, including the
Terms and Conditions of Stock Option Grant (including any country-specific addendum thereto), attached hereto as Exhibit A,
all of which are made a part of this document. Participant has reviewed the Plan and this Award Agreement in their entirety, has
had an opportunity to obtain the advice of counsel prior to executing this Award Agreement and fully understands all provisions
of the Plan and Award Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations
of the Administrator upon any questions relating to the Plan and Award Agreement. Participant further agrees to notify the Company
upon any change in the residence address indicated below.

 

	PARTICIPANT:	 	Q2POWER
    TECHNOLOGIES, INC.
	 	 	 
	 	 	 
	 	 	 
	Signature	 	By
	 	 	 
	 	 	 
	Print
    Name	 	Title
	 	 	 
	Residence
    Address:	 	 
	 	 	 
	 	 	 
	 	 	 

 

    	19 

     

    

 

EXHIBIT
A

 

TERMS
AND CONDITIONS OF STOCK OPTION GRANT

 

1.
Grant of Option. The Company hereby grants to the Participant named in the Notice of Grant attached as Part I of this Award
Agreement (the “Participant”) an option (the “Option”) to purchase the number
of Shares, as set forth in the Notice of Grant, at the exercise price per Share set forth in the Notice of Grant (the “Exercise
Price”), subject to all of the terms and conditions in this Award Agreement and the Plan, which is incorporated
herein by reference. Subject to Section 18 of the Plan, in the event of a conflict between the terms and conditions of the Plan
and the terms and conditions of this Award Agreement, the terms and conditions of the Plan will prevail.

 

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

 

2.
Vesting Schedule. Except as provided in Section 3, the Option awarded by this Award Agreement will vest in accordance with
the vesting provisions set forth in the Notice of Grant. Shares scheduled to vest on a certain date or upon the occurrence of
a certain condition will not vest in Participant in accordance with any of the provisions of this Award Agreement, unless Participant
will have been continuously a Service Provider from the Date of Grant until the date such vesting occurs. Service Provider status
will end on the day that notice of termination is provided (whether by the Company or Parent or Subsidiary for any reason or by
Participant upon resignation) and will not be extended by any notice period that may be required contractually or under applicable
local law. Notwithstanding the foregoing, the Administrator (or any delegate) shall have the sole discretion to determine when
Participant is no longer providing active service for purposes of Service Provider status and participation in the Plan.

 

3.
Administrator Discretion. The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser
portion of the balance, of the unvested Option at any time, subject to the terms of the Plan. If so accelerated, such Option will
be considered as having vested as of the date specified by the Administrator.

 

4.
Exercise of Option.

 

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

 

(b)
Method of Exercise. This Option is exercisable by delivery of an exercise notice, in the form attached as Exhibit B
(the “Exercise Notice”) or in a manner and pursuant to such procedures as the Administrator may
determine, which will state the election to exercise the Option, the number of Shares in respect of which the Option is being
exercised (the “Exercised Shares”), and such other representations and agreements as may be required
by the Company pursuant to the provisions of the Plan. The Exercise Notice will be completed by Participant and delivered to the
Company. The Exercise Notice will be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares together
with any applicable tax withholding. This Option will be deemed to be exercised upon receipt by the Company of such fully executed
Exercise Notice accompanied by such aggregate Exercise Price.

 

    	20 

     

    

 

5.
Method of Payment. Payment of the aggregate Exercise Price will be by any of the following, or a combination thereof, at
the election of Participant unless the Administrator in its sole discretion requires a specific method of payment:

 

(a)
cash (US dollars); or

 

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

 

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

 

(d)
surrender of other Shares which have a Fair Market Value on the date of surrender equal to the aggregate Exercise Price of the
Exercised Shares, provided that accepting such Shares, in the sole discretion of the Administrator, will not result in any adverse
accounting consequences to the Company.

 

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

 

6.
Tax Obligations.

 

(a)
Withholding Taxes. Regardless of any action the Company or Participant’s employer (the “Employer”)
takes with respect to any or all applicable national, local, or other tax or social contribution, withholding, required deductions,
or other payments, if any, that arise upon the grant, vesting, or exercise of this Option, the holding or subsequent sale of Shares,
and the receipt of dividends, if any (“Tax-Related Items”), Participant acknowledges and agrees that
the ultimate liability for all Tax-Related Items legally due by Participant is and remains Participant’s responsibility
and may exceed the amount actually withheld by the Company or the Employer. Participant further acknowledges that the Company
and/or the Employer (a) makes no representations or undertakings regarding the treatment of any Tax-Related Items in connection
with any aspect of the Option, including the grant, vesting, or exercise of the Option, the subsequent sale of Shares acquired
under the Plan and the receipt of dividends, if any; and (b) does not commit to and is under no obligation to structure the terms
of the Option or any aspect of the Option to reduce or eliminate Participant’s liability for Tax-Related Items, or achieve
any particular tax result. Further, if Participant has become subject To tax in more than one jurisdiction between the date of
grant and the date of any relevant taxable event, Participant acknowledges that the Company and/or the Employer (or former employer,
as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.

 

(b)
No payment will be made to Participant (or his or her estate or beneficiary) for an Option unless and until satisfactory arrangements
(as determined by the Company) have been made by Participant with respect to the payment of any Tax-Related Items obligations
of the Company and/or the Employer with respect to the Option. In this regard, Participant authorizes the Company and/or the Employer,
or their respective agents, at their discretion, to satisfy the obligations with regard to all Tax-Related Items by one or a combination
of the following:

 

    	21 

     

    

 

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

 

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

 

(iii)
withholding in Shares to be issued upon exercise of the Option; or

 

(iv)
surrendering already-owned Shares having a Fair Market Value equal to the Tax-Related Items that have been held for such period
of time to avoid adverse accounting consequences.

 

If
the obligation for Tax-Related Items is satisfied by withholding Shares, the Participant is deemed to have been issued the full
number of Shares purchased for tax purposes, notwithstanding that a number of the Shares is held back solely for the purpose of
paying the Tax-Related Items due as a result of the Participant’s participation in the Plan. Participant shall pay to the
Company or Employer any amount of Tax-Related Items that the Company may be required to withhold as a result of Participant’s
participation in the Plan that cannot be satisfied by one or more of the means previously described in this paragraph 6. Participant
acknowledges and agrees that the Company may refuse to honor the exercise and refuse to issue or deliver the Shares or the proceeds
of the sale of Shares if Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

 

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

 

(c)
Code Section 409A (Applicable Only to Participants Subject to U.S. Taxes). Under Code Section 409A, an option that vests
after December 31, 2004 (or that vested on or prior to such date but which was materially modified after October 3, 2004) that
was granted with a per Share exercise price that is determined by the Internal Revenue Service (the “IRS”)
to be less than the Fair Market Value of a Share on the date of grant (a “Discount Option”) may be considered
“deferred compensation.” A Discount Option may result in (i) income recognition by Participant prior to the exercise
of the option, (ii) an additional twenty percent (20%) federal income tax, and (iii) potential penalty and interest charges. The
Discount Option may also result in additional state income, penalty and interest charges to the Participant. Participant acknowledges
that the Company cannot and has not guaranteed that the IRS will agree that the per Share exercise price of this Option equals
or exceeds the Fair Market Value of a Share on the Date of Grant in a later examination. Participant agrees that if the IRS determines
that the Option was granted with a per Share exercise price that was less than the Fair Market Value of a Share on the date of
grant, Participant will be solely responsible for Participant’s costs related to such a determination.

 

7.
Rights as Stockholder. Neither Participant nor any person claiming under or through Participant will have any of the rights
or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing
such Shares will have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered
to Participant. After such issuance, recordation and delivery, Participant will have all the rights of a stockholder of the Company
with respect to voting such Shares and receipt of dividends and distributions on such Shares.

 

    	22 

     

    

 

8.
No Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING
SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE EMPLOYER AND NOT THROUGH THE ACT OF BEING
HIRED, BEING GRANTED THE OPTION OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AWARD AGREEMENT,
THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE
OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY
WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE EMPLOYER TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER
AT ANY TIME, WITH OR WITHOUT CAUSE (SUBJECT TO APPLICABLE LOCAL LAWS).

 

9.
Nature of Grant. In accepting the Option, Participant acknowledges that:

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    	23 

     

    

 

(j)
in consideration of the grant of the Option, no claim or entitlement to compensation or damages shall arise from forfeiture of
the Option resulting from termination of employment by the Employer (for any reason whatsoever and whether or not in breach of
local labor laws), and Participant irrevocably releases the Employer from any such claim that may arise; if, notwithstanding the
foregoing, any such claim is found by a court of competent jurisdiction to have arisen, Participant shall be deemed irrevocably
to have waived his or her entitlement to pursue such claim; and

 

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

 

10.
No Advice Regarding Grant. The Company is not providing any tax, legal or financial advice, nor is the Company making any
recommendations regarding Participant’s participation in the Plan, or Participant’s acquisition or sale of the underlying
Shares. Participant is hereby advised to consult with his or her own personal tax, legal and financial advisors regarding Participant’s
participation in the Plan before taking any action related to the Plan.

 

11.
Data Privacy. Participant hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic
or other form, of Participant’s personal data as described in this Award Agreement by and among, as applicable, the Company
and its affiliates for the exclusive purpose of implementing, administering and managing Participant’s participation in
the Plan.

 

Participant
understands that the Company and its affiliates may hold certain personal information about Participant, including, but not limited
to, Participant’s name, home address and telephone number, date of birth, social insurance number or other identification
number, salary, nationality, job title, any shares of stock or directorships held in the Company or any affiliate, details of
all Options or any other entitlement to shares of stock awarded, canceled, exercised, vested, unvested or outstanding in Participant’s
favor, for the exclusive purpose of implementing, administering and managing the Plan (“Personal Data”). Participant
understands that Personal Data may be transferred to any third parties assisting in the implementation, administration and management
of the Plan, that these recipients may be located in the United States, Participant’s country (if different than the United
States), or elsewhere, and that the recipient’s country may have different data privacy laws and protections than Participant’s
country.

 

For
Participants located in the European Union, the following paragraph applies: Participant understands that he or she may request
a list with the names and addresses of any potential recipients of the Personal Data by contacting Participant’s local human
resources representative. Participant authorizes the recipients to receive, possess, use, retain and transfer the Personal Data,
in electronic or other form, for the purposes of implementing, administering and managing Participant’s participation in
the Plan, including any requisite transfer of such Personal Data as may be required to a broker or other third party with whom
Participant may elect to deposit any Shares received upon exercise of the Option. Participant understands that Personal Data will
be held only as long as is necessary to implement, administer and manage Participant’s participation in the Plan. Participant
understands that he or she may, at any time, view Personal Data, request additional information about the storage and processing
of Personal Data, require any necessary amendments to Personal Data or refuse or withdraw the consents herein, without cost, by
contacting in writing Participant’s local human resources representative. Participant understands that refusal or withdrawal
of consent may affect Participant’s ability to participate in the Plan or to realize benefits from the Option. For more
information on the consequences of Participant’s refusal to consent or withdrawal of consent, Participant understands that
he or she may contact his or her local human resources representative.

 

    	24 

     

    

 

12.
Address for Notices. Any notice to be given to the Company under the terms of this Award Agreement will be addressed to
the Company, in care of its CEO or General Counsel at Q2Power Technologies, Inc. 1858 Cedar Hill Rd., Lancaster, OH 43130, or
at such other address as the Company may hereafter designate in writing.

 

13.
Non-Transferability of Option. This Option may not be transferred in any manner otherwise than by will or by the laws of
descent or distribution and may be exercised during the lifetime of Participant only by Participant.

 

14.
Binding Agreement. Subject to the limitation on the transferability of this grant contained herein, this Award Agreement
will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties
hereto.

 

15.
Additional Conditions to Issuance of Stock. If at any time the Company will determine, in its discretion, that the listing,
registration or qualification of the Shares upon any securities exchange or under any state, federal or foreign law, or the consent
or approval of any governmental regulatory authority is necessary or desirable as a condition to the issuance of Shares to Participant
(or his or her estate), such issuance will not occur unless and until such listing, registration, qualification, consent or approval
will have been effected or obtained free of any conditions not acceptable to the Company. The Company will make all reasonable
efforts to meet the requirements of any such state, federal or foreign law or securities exchange and to obtain any such consent
or approval of any such governmental authority. Assuming such compliance, for income tax purposes the Exercised Shares will be
considered transferred to Participant on the date the Option is exercised with respect to such Exercised Shares. The Company shall
not be obligated to issue any Shares pursuant to this Option at any time if the issuance of Shares, or the exercise of an Option
by Participant, violates or is not in compliance with any laws, rules or regulations of the United States or any state or country.

 

16.
Lock-Up Agreement. In connection with the initial public offering of the Company’s securities, Optionee hereby agrees
not to offer, pledge, sell, contract to sell, make any short sale of, loan, grant any option for the purchase of, or otherwise
dispose of any securities of the Company however and whenever acquired (other than those included in the registration) without
the prior written consent of the Company and the managing underwriters for such offering for such period of time (not to exceed
180 days) from the effective date of such registration as may be requested by the Company or such managing underwriters and to
execute an agreement reflecting the foregoing as may be requested by the underwriters at the time of the Company’s initial
public offering. In addition, upon request of the Company or the underwriters managing a public offering of the Company’s
securities (other than the initial public offering), Optionee hereby agrees to be bound by similar restrictions, and to sign a
similar agreement, in connection with no more than one additional registration statement filed within 12 months after the closing
date of the initial public offering, provided that the duration of the lock-up period with respect to such additional registration
shall not exceed 90 days from the effective date of such additional registration statement. Notwithstanding the foregoing, if
during the last 17 days of the restricted period, the Company issues an earnings release or material news or a material event
relating to the Company occurs, or prior to the expiration of the restricted period the Company announces that it will release
earnings results during the 16-day period beginning on the last day of the restricted period, then, upon the request of the managing
underwriter, to the extent required by any FINRA rules, the restrictions imposed by this subsection shall continue to apply until
the end of the third trading day following the expiration of the 15-day period beginning on the issuance of the earnings release
or the occurrence of the material news or material event. In no event will the restricted period extend beyond 216 days after
the effective date of the registration statement. In order to enforce the restriction set forth above, the Company may impose
stop-transfer instructions with respect to the Shares acquired under this Agreement until the end of the applicable stand-off
period. The Company’s underwriters shall be beneficiaries of the agreement set forth in this Section.

 

    	25 

     

    

 

If
the underwriters release or waive any of the foregoing restrictions in connection with a transfer of shares of Common Stock, the
underwriters shall notify the Company at least three business days before the effective date of any such release or waiver. Further,
the Company will announce the impending release or waiver by press release through a major news service at least two business
days before the effective date of the release or waiver. Any release or waiver granted by the underwriters shall only be effective
two business days after the publication date of such press release. The provisions of this paragraph will not apply if (x) the
release or waiver is effected solely to permit a transfer not for consideration and (y) the transferee has agreed in writing to
be bound by the same terms of the lock-up provisions applicable in general to the extent, and for the duration, that such lock-up
provision remain in effect at the time of the transfer.

 

17.
Plan Governs. This Award Agreement is subject to all terms and provisions of the Plan. In the event of a conflict between
one or more provisions of this Award Agreement and one or more provisions of the Plan, the provisions of the Plan will govern.
Capitalized terms used and not defined in this Award Agreement will have the meaning set forth in the Plan.

 

18.
Administrator Authority. The Administrator will have the power to interpret the Plan and this Award Agreement and to adopt
such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or
revoke any such rules (including, but not limited to, the determination of whether or not any Shares subject to the Option have
vested). All actions taken and all interpretations and determinations made by the Administrator in good faith will be final and
binding upon Participant, the Company and all other interested persons. No member of the Administrator will be personally liable
for any action, determination or interpretation made in good faith with respect to the Plan or this Award Agreement.

 

19.
Electronic Delivery. The Company may, in its sole discretion, decide to deliver any documents related to Options awarded
under the Plan or future options that may be awarded under the Plan by electronic means or request Participant’s consent
to participate in the Plan by electronic means. Participant hereby consents to receive such documents by electronic delivery and
agrees to participate in the Plan through any on-line or electronic system established and maintained by the Company or another
third party designated by the Company.

 

20.
Language. If Participant has received this Award Agreement, including appendices, or any other document related to the
Plan translated into a language other than English, and the meaning of the translated version is different than the English version,
the English version will control.

 

21.
Imposition of Other Requirements. The Company reserves the right to impose other requirements on Participant’s participation
in the Plan, on the Option and on any Shares acquired under the Plan, to the extent the Company determines it is necessary or
advisable in order to comply with local law or facilitate the administration of the Plan, and to require Participant to sign any
additional agreements or undertakings that may be necessary to accomplish the foregoing. Furthermore, Participant understands
that the laws of the country in which he or she is resident at the time of grant, vesting, and/or exercise of this Option or the
holding or disposition of Shares (including any rules or regulations governing securities, foreign exchange, tax, labor or other
matters) may restrict or prevent exercise of this Option or may subject Participant to additional procedural or regulatory requirements
he or she is solely responsible for and will have to independently fulfill in relation to this Option or the Shares. Notwithstanding
any provision herein, this Option and any Shares shall be subject to any special terms and conditions or disclosures as set forth
in any addendum for Participant’s country (the “Country-Specific Addendum,” which forms part this Award Agreement).

 

    	26 

     

    

 

22.
Captions. Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction
of this Award Agreement.

 

23.
Agreement Severable. In the event that any provision in this Award Agreement will be held invalid or unenforceable, such
provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining
provisions of this Award Agreement.

 

24.
Modifications to the Agreement. This Award Agreement constitutes the entire understanding of the parties on the subjects
covered. Participant expressly warrants that he or she is not accepting this Award Agreement in reliance on any promises, representations,
or inducements other than those contained herein. Modifications to this Award Agreement or the Plan can be made only in an express
written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or
this Award Agreement, the Company reserves the right to revise this Award Agreement as it deems necessary or advisable, in its
sole discretion and without the consent of Participant, to comply with Code Section 409A or to otherwise avoid imposition of any
additional tax or income recognition under Section 409A of the Code in connection to this Option.

 

25.
Amendment, Suspension or Termination of the Plan. By accepting this Award, Participant expressly warrants that he or she
has received an Option under the Plan, and has received, read and understood a description of the Plan. Participant understands
that the Plan is discretionary in nature and may be amended, suspended or terminated by the Company at any time.

 

26.
Governing Law. This Award Agreement will be governed by the laws of the State of Delaware, without giving effect to the
conflict of law principles thereof. For purposes of litigating any dispute that arises under this Option or this Award Agreement,
the parties hereby submit to and consent to the jurisdiction of the State of Ohio.

 

    	27 

     

    

 

EXHIBIT
B

 

Q2POWER
TECHNOLOGIES, INC.

 

2016
OMNIBUS EQUITY INCENTIVE PLAN

 

EXERCISE
NOTICE

 

Q2Power
Technologies, Inc.

1858
Cedar Hill Rd.

Lancaster,
OH 43130

 

1.
Exercise of Option. Effective as of today, , , the undersigned (“Purchaser”) hereby elects to
purchase shares (the “Shares”) of the Common Stock of Q2Power Technologies, Inc. (the “Company”)
under and pursuant to the 2016 Omnibus Equity Incentive Plan (the “Plan”) and the Stock Option Award
Agreement dated (the “Award Agreement”). The purchase price for the Shares will be $ , as required by
the Award Agreement.

 

2.
Delivery of Payment. Purchaser herewith delivers to the Company the full purchase price of the Shares and any required
tax withholding to be paid in connection with the exercise of the Option.

 

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

 

4.
Rights as Stockholder. Until the issuance (as evidenced by the appropriate entry on the books of the Company or of a duly
authorized transfer agent of the Company) of the Shares, no right to vote or receive dividends or any other rights as a stockholder
will exist with respect to the Shares subject to the Option, notwithstanding the exercise of the Option. The Shares so acquired
will be issued to Purchaser as soon as practicable after exercise of the Option. No adjustment will be made for a dividend or
other right for which the record date is prior to the date of issuance, except as provided in Section 13 of the Plan.

 

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

 

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

 

    	28 

     

    

 

	Submitted
    by:	 	Accepted
    by:
	 	 	 
	PURCHASER:	 	Q2OIWER
    TECHNOLOGIES, INC
	 	 	 
	 	 	 
	 	 	 
	Signature	 	By
	 	 	 
	 	 	 
	Print
    Name	 	Title
	 	 	 
	Address:	 	 
	 	 	 
	 	 	 
	 	 	Date
    Received

 

    	29 

     

    

 

Q2POWER
TECHNOLOGIES, INC.

 

2016
OMNIBUS EQUITY INCENTIVE PLAN

 

RESTRICTED
STOCK UNIT AWARD AGREEMENT

 

Unless
otherwise defined herein, the terms defined in the Q2Power Technologies, Inc. 2016 Omnibus Equity Incentive Plan (the “Plan”)
will have the same defined meanings in this Restricted Stock Unit Award Agreement (the “Award Agreement”).

 

I.
NOTICE OF RESTRICTED STOCK UNIT GRANT

 

Participant
Name:

 

You
have been granted the right to receive an Award of Restricted Stock Units, subject to the terms and conditions of the Plan and
this Award Agreement, as follows:

 

Grant
Number:

 

Date
of Grant:

 

Vesting
Commencement Date:

 

Number
of Restricted Stock Units:

 

Vesting
Schedule:

 

Subject
to Section 3 of the Award Agreement and any acceleration provisions contained in the Plan or set forth below, the Restricted Stock
Unit will vest on the Vesting Commencement Date if the Participant is still in the employment of the Company and in good standing,
as determined by the Board of Directors.

 

In
the event Participant ceases to be an employee of the Company (or gives or is given notice of such termination) for any or no
reason before Participant vests in the Restricted Stock Unit, the Restricted Stock Unit and Participant’s right to acquire
any Shares hereunder will immediately terminate.

 

By
Participant’s signature and the signature of the representative of Q2Power Technologies, Inc. (the “Company”)
below, Participant and the Company agree that this Award of Restricted Stock Units is granted under and governed by the terms
and conditions of the Plan and this Award Agreement, including the Terms and Conditions of Restricted Stock Unit Grant (including
any country-specific addendum thereto), attached hereto as Exhibit A, all of which are made a part of this document. Participant
has reviewed the Plan and this Award Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior
to executing this Award Agreement and fully understands all provisions of the Plan and Award Agreement. Participant hereby agrees
to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to
the Plan and Award Agreement. Participant further agrees to notify the Company upon any change in the residence address indicated
below.

 

    	30 

     

    

 

	PARTICIPANT:	 	Q2POWER
    TECHNOLOGIES, INC.
	 	 	 
	 	 	 
	 	 	 
	Signature	 	By
	 	 	 
	 	 	 
	 	 	 
	Print
    Name	 	Title

 

Residence
Address:

 

 

 

    	31 

     

    

 

EXHIBIT
A

 

TERMS
AND CONDITIONS OF RESTRICTED STOCK UNIT GRANT

 

1.
Grant. The Company hereby grants to the individual named in the Notice of Grant attached as Part I of this Award Agreement
(the “Participant”) under the Plan an Award of Restricted Stock Units, subject to all of the terms and
conditions in this Award Agreement and the Plan, which is incorporated herein by reference. Subject to Section 18 of the Plan,
in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Award Agreement,
the terms and conditions of the Plan will prevail.

 

2.
Company’s Obligation to Pay. Each Restricted Stock Unit represents the right to receive a Share on the date it vests.
Unless and until the Restricted Stock Units will have vested in the manner set forth in Section 3, Participant will have no right
to payment of any such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock
Unit will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company. Any
Restricted Stock Units that vest in accordance with Sections 3 or 4 will be paid to Participant (or in the event of Participant’s
death, to his or her estate) in whole Shares, subject to Participant satisfying any applicable tax withholding or other obligations
as set forth in Section 7. Subject to the provisions of Section 4, such vested Restricted Stock Units will be paid in Shares as
soon as practicable after vesting.

 

3.
Vesting Schedule. Except as provided in Section 4, and subject to Section 5, the Restricted Stock Units awarded by this
Award Agreement will vest in accordance with the vesting provisions set forth in the Notice of Grant. Restricted Stock Units scheduled
to vest on a certain date or upon the occurrence of a certain condition will not vest in Participant in accordance with any of
the provisions of this Award Agreement, unless Participant will have been continuously a Service Provider from the Date of Grant
until the date such vesting occurs. Service Provider status will end on the day that notice of termination is provided (whether
by the Company or Parent or Subsidiary for any reason or by Participant upon resignation) and will not be extended by any notice
period that may be required contractually or under applicable local law. Notwithstanding the foregoing, the Administrator (or
any delegate) shall have the sole discretion to determine when Participant is no longer providing active service for purposes
of Service Provider status and participation in the Plan.

 

4.
Administrator Discretion. The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser
portion of the balance, of the unvested Restricted Stock Units at any time, subject to the terms of the Plan. If so accelerated,
such Restricted Stock Units will be considered as having vested as of the date specified by the Administrator.

 

Notwithstanding
anything in the Plan or this Award Agreement to the contrary, if the vesting of the balance, or some lesser portion of the balance,
of the Restricted Stock Units is accelerated in connection with Participant’s termination as a Service Provider (provided
that such termination is a “separation from service” within the meaning of Section 409A, as determined by the Company),
other than due to death, and if (x) Participant is a “specified employee” within the meaning of Section 409A
at the time of such termination as a Service Provider and (y) the payment of such accelerated Restricted Stock Units will result
in the imposition of additional tax under Section 409A if paid to Participant on or within the six (6) month period following
Participant’s termination as a Service Provider, then the payment of such accelerated Restricted Stock Units will not be
made until the date six (6) months and one (1) day following the date of Participant’s termination as a Service Provider,
unless the Participant dies following his or her termination as a Service Provider, in which case, the Restricted Stock Units
will be paid in Shares to the Participant’s estate as soon as practicable following his or her death. It is the intent of
this Award Agreement to comply with the requirements of Section 409A so that none of the Restricted Stock Units provided under
this Award Agreement or Shares issuable thereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities
herein will be interpreted to so comply. For purposes of this Award Agreement, “Section 409A” means Section 409A of
the Code, and any proposed, temporary or final Treasury Regulations and Internal Revenue Service guidance thereunder, as each
may be amended from time to time.

 

    	32 

     

    

 

5.
Forfeiture upon Termination of Status as a Service Provider. Notwithstanding any contrary provision of this Award Agreement,
the balance of the Restricted Stock Units that have not vested as of the time notice is provided (whether by Participant or the
Company or Parent or Subsidiary) of Participant’s termination as a Service Provider for any or no reason and Participant’s
right to acquire any Shares hereunder will immediately terminate.

 

6.
Death of Participant. Any distribution or delivery to be made to Participant under this Award Agreement will, if Participant
is then deceased, be made to Participant’s designated beneficiary, or if no beneficiary survives Participant, the administrator
or executor of Participant’s estate. Any such transferee must furnish the Company with (a) written notice of his or her
status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with
any laws or regulations pertaining to said transfer.

 

7.
Withholding of Taxes. Regardless of any action the Company or Participant’s employer (the “Employer”)
takes with respect to any or all applicable national, local, or other tax or social contribution, withholding, required deductions,
or other payments, if any, that arise upon the grant or vesting of the Restricted Stock Units or the holding or subsequent sale
of Shares, and the receipt of dividends, if any (“Tax-Related Items”), Participant acknowledges and
agrees that the ultimate liability for all Tax-Related Items legally due by Participant is and remains Participant’s responsibility
and may exceed the amount actually withheld by the Company or the Employer. Participant further acknowledges that the Company
and the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with
any aspect of the Restricted Stock Units, including grant or vesting, the subsequent sale of Shares acquired under the Plan, and
the receipt of dividends, if any; and (b) does not commit to and is under no obligation to structure the terms of the Restricted
Stock Units or any aspect of the Restricted Stock Units to reduce or eliminate Participant’s liability for Tax-Related Items,
or achieve any particular tax result. Further, if Participant has become subject to tax in more than one jurisdiction between
the date of grant and the date of any relevant taxable event, Participant acknowledges that the Company and/or the Employer (or
former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Notwithstanding
any contrary provision of this Award Agreement, no certificate representing the Shares will be issued to Participant, unless and
until satisfactory arrangements (as determined by the Administrator) will have been made by Participant with respect to the payment
of any Tax-Related Items which the Company determines must be withheld with respect to such Shares.

 

The
Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit Participant
to satisfy such Tax-Related Items, in whole or in part (without limitation) by (a) paying cash, (b) electing to have the Company
withhold otherwise deliverable Shares having a Fair Market Value equal to the minimum amount required to be withheld, (c) delivering
to the Company already vested and owned Shares having a Fair Market Value equal to the amount required to be withheld, or (d)
selling a sufficient number of such Shares otherwise deliverable to Participant through such means as the Company may determine
in its sole discretion (whether through a broker or otherwise) equal to the amount required to be withheld. To the extent determined
appropriate by the Company in its discretion, it will have the right (but not the obligation) to satisfy any Tax-Related Items
by reducing the number of Shares otherwise deliverable to Participant. If Participant fails to make satisfactory arrangements
for the payment of any required Tax-Related Items hereunder at the time any applicable Restricted Stock Units otherwise are scheduled
to vest pursuant to Sections 3 or 4, Participant will permanently forfeit such Restricted Stock Units and any right to receive
Shares thereunder and the Restricted Stock Units will be returned to the Company at no cost to the Company.

 

    	33 

     

    

 

8.
Rights as Stockholder. Neither Participant nor any person claiming under or through Participant will have any of the rights
or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing
such Shares will have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered
to Participant. After such issuance, recordation and delivery, Participant will have all the rights of a stockholder of the Company
with respect to voting such Shares and receipt of dividends and distributions on such Shares.

 

9.
No Guarantee of Continued Service or Grants. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF THE RESTRICTED STOCK
UNITS PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (OR
THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS AWARD
OF RESTRICTED STOCK UNITS OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AWARD AGREEMENT,
THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE
OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY
WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT)
TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE.

 

Participant
also acknowledges and agrees that: (a) the Plan is established voluntarily by the Company, it is discretionary in nature and it
may be modified, amended, suspended or terminated by the Company at any time; (b) the grant of Restricted Stock Units is voluntary
and occasional and does not Create any contractual or other right to receive future grants of Restricted Stock Units, or benefits
in lieu of Restricted Stock Units even if Restricted Stock Units have been granted repeatedly in the past; (c) all decisions with
respect to future awards of Restricted Stock Units, if any, will be at the sole discretion of the Company; (d) Participant’s
participation in the Plan is voluntary; (e) the Restricted Stock Units and the Shares subject to the Restricted Stock Units are
extraordinary items that do not constitute regular compensation for services rendered to the Company or the Employer, and that
are outside the scope of Participant’s employment contract, if any; (f) the Restricted Stock Units and the Shares subject
to the Restricted Stock Units are not intended to replace any pension rights or compensation; (g) the Restricted Stock Units and
the Shares subject to the Restricted Stock Units are not part of normal or expected compensation or salary for any purposes, including,
but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, or end of service payments, bonuses,
long-service awards, pension or retirement or welfare benefits or similar payments and in no event should be considered as compensation
for, or relating in any way to, past services for the Company or the Employer.

 

10.
Address for Notices. Any notice to be given to the Company under the terms of this Award Agreement will be addressed to
the Company, in care of its CEO or General Counsel at Q2Power Technologies, Inc. 1858 Cedar Hill Rd., Lancaster, OH 43130, or
at such other address as the Company may hereafter designate in writing.

 

    	34 

     

    

 

11.
Grant is Not Transferable. Except to the limited extent provided in Section 6, this grant and the rights and privileges
conferred hereby will not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise)
and will not be subject to sale under execution, attachment or similar process. Upon any attempt to transfer, assign, pledge,
hypothecate or otherwise dispose of this grant, or any right or privilege conferred hereby, or upon any attempted sale under any
execution, attachment or similar process, this grant and the rights and privileges conferred hereby immediately will become null
and void.

 

12.
Binding Agreement. Subject to the limitation on the transferability of this grant contained herein, this Award Agreement
will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties
hereto.

 

13.
Additional Conditions to Issuance of Stock. If at any time the Company will determine, in its discretion, that the listing,
registration or qualification of the Shares upon any securities exchange or under any state or federal law, or the consent or
approval of any governmental regulatory authority is necessary or desirable as a condition to the issuance of Shares to Participant
(or his or her estate), such issuance will not occur unless and until such listing, registration, qualification, consent or approval
will have been effected or obtained free of any conditions not acceptable to the Company. Where the Company determines that the
delivery of the payment of any Shares will violate federal securities laws or other applicable laws, the Company will defer delivery
until the earliest date at which the Company reasonably anticipates that the delivery of Shares will no longer cause such violation.
The Company will make all reasonable efforts to meet the requirements of any such state or federal law or securities exchange
and to obtain any such consent or approval of any such governmental authority. The Company shall not be obligated to issue any
Shares pursuant to the Restricted Stock Units at any time if the issuance of Shares violates or is not in compliance with any
laws, rules or regulations of the United States or any state or country.

 

Furthermore,
the Company reserves the right to impose other requirements on Participant’s participation in the Plan, on the Restricted
Stock Units and on any Shares acquired under the Plan, to the extent the Company determines it is necessary or advisable in order
to comply with local law or facilitate the administration of the Plan, and to require Participant to sign any additional agreements
or undertakings that may be necessary to accomplish the foregoing. Furthermore, Participant understands that the laws of the country
in which he or she is resident at the time of grant or vesting of the Restricted Stock Units or the holding or disposition of
Shares (including any rules or regulations governing securities, foreign exchange, tax, labor or other matters) may restrict or
prevent the issuance of Shares or may subject Participant to additional procedural or regulatory requirements he or she is solely
responsible for and will have to independently fulfill in relation to the Restricted Stock Units or the Shares. Notwithstanding
any provision herein, the Restricted Stock Units and any Shares shall be subject to any special terms and conditions or disclosures
as set forth in any addendum for Participant’s country (the “Country-Specific Addendum,” which forms part this
Award Agreement).

 

14.
Lock-Up Agreement. In connection with the initial public offering of the Company’s securities, Participant hereby
agrees not to offer, pledge, sell, contract to sell, make any short sale of, loan, grant any option for the purchase of, or otherwise
dispose of any securities of the Company however and whenever acquired (other than those included in the registration) without
the prior written consent of the Company and the managing underwriters for such offering for such period of time (not to exceed
180 days) from the effective date of such registration as may be requested by the Company or such managing underwriters and to
execute an agreement reflecting the foregoing as may be requested by the underwriters at the time of the Company’s initial
public offering. In addition, upon request of the Company or the underwriters managing a public offering of the Company’s
securities (other than the initial public offering), Participant hereby agrees to be bound by similar restrictions, and to sign
a similar agreement, in connection with no more than one additional registration statement filed within 12 months after the closing
date of the initial public offering, provided that the duration of the lock-up period with respect to such additional registration
shall not exceed 90 days from the effective date of such additional registration statement. Notwithstanding the foregoing, if
during the last 17 days of the restricted period, the Company issues an earnings release or material news or a material event
relating to the Company occurs, or prior to the expiration of the restricted period the Company announces that it will release
earnings results during the 16-day period beginning on the last day of the restricted period, then, upon the request of the managing
underwriter, to the extent required by any FINRA rules, the restrictions imposed by this subsection shall continue to apply until
the end of the third trading day following the expiration of the 15-day period beginning on the issuance of the earnings release
or the occurrence of the material news or material event. In no event will the restricted period extend beyond 216 days after
the effective date of the registration statement. In order to enforce the restriction set forth above, the Company may impose
stop-transfer instructions with respect to the Shares acquired under this Agreement until the end of the applicable stand-off
period. The Company’s underwriters shall be beneficiaries of the agreement set forth in this Section.

 

    	35 

     

    

 

If
the underwriters release or waive any of the foregoing restrictions in connection with a transfer of shares of Common Stock, the
underwriters shall notify the Company at least three business days before the effective date of any such release or waiver. Further,
the Company will announce the impending release or waiver by press release through a major news service at least two business
days before the effective date of the release or waiver. Any release or waiver granted by the underwriters shall only be effective
two business days after the publication date of such press release. The provisions of this paragraph will not apply if (x) the
release or waiver is effected solely to permit a transfer not for consideration and (y) the transferee has agreed in writing to
be bound by the same terms of the lock-up provisions applicable in general to the extent, and for the duration, that such lock-up
provision remain in effect at the time of the transfer.

 

15.
Plan Governs. This Award Agreement is subject to all terms and provisions of the Plan. In the event of a conflict between
one or more provisions of this Award Agreement and one or more provisions of the Plan, the provisions of the Plan will govern.
Capitalized terms used and not defined in this Award Agreement will have the meaning set forth in the Plan.

 

16.
Administrator Authority. The Administrator will have the power to interpret the Plan and this Award Agreement and to adopt
such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or
revoke any such rules (including, but not limited to, the determination of whether or not any Restricted Stock Units have vested).
All actions taken and all interpretations and determinations made by the Administrator in good faith will be final and binding
upon Participant, the Company and all other interested persons. No member of the Administrator will be personally liable for any
action, determination or interpretation made in good faith with respect to the Plan or this Award Agreement.

 

17.
Electronic Delivery and Language. The Company may, in its sole discretion, decide to deliver any documents related to Restricted
Stock Units awarded under the Plan or future Restricted Stock Units that may be awarded under the Plan by electronic means or
request Participant’s consent to participate in the Plan by electronic means. Participant hereby consents to receive such
documents by electronic delivery and agrees to participate in the Plan through any on-line or electronic system established and
maintained by the Company or another third party designated by the Company. If Participant has received this Award Agreement,
including appendices, or any other document related to the Plan translated into a language other than English, and the meaning
of the translated version is different than the English version, the English version will control.

 

    	36 

     

    

 

18.
Captions. Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction
of this Award Agreement.

 

19.
Agreement Severable. In the event that any provision in this Award Agreement will be held invalid or unenforceable, such
provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining
provisions of this Award Agreement.

 

20.
Modifications to the Agreement. This Award Agreement constitutes the entire understanding of the parties on the subjects
covered. Participant expressly warrants that he or she is not accepting this Award Agreement in reliance on any promises, representations,
or inducements other than those contained herein. Modifications to this Award Agreement or the Plan can be made only in an express
written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or
this Award Agreement, the Company reserves the right to revise this Award Agreement as it deems necessary or advisable, in its
sole discretion and without the consent of Participant, to comply with Section 409A or to otherwise avoid imposition of any additional
tax or income recognition under Section 409A in connection to this Award of Restricted Stock Units.

 

21.
Data Privacy. Participant hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic
or other form, of Participant’s personal data as described in this Award Agreement by and among, as applicable, the Company
and its affiliates for the exclusive purpose of implementing, administering and managing Participant’s participation in
the Plan. Participant understands that the Company and its affiliates may hold certain personal information about Participant,
including, but not limited to, Participant’s name, home address and telephone number, date of birth, social insurance number
or other identification number, salary, nationality, job title, any shares of stock or directorships held in the Company or any
affiliate, details of all Restricted Stock Units or any other entitlement to shares of stock awarded, canceled, exercised, vested,
unvested or outstanding in Participant’s favor, for the exclusive purpose of implementing, administering and managing the
Plan (“Personal Data”). Participant understands that Personal Data may be transferred to any third parties assisting
in the implementation, administration and management of the Plan, that these recipients may be located in the United States, Participant’s
country (if different than the United States), or elsewhere, and that the recipient’s country may have different data privacy
laws and protections than Participant’s country.

 

For
Participants located in the European Union, the following paragraph applies: Participant understands that he or she may request
a list with the names and addresses of any potential recipients of the Personal Data by contacting Participant’s local human
resources representative. Participant authorizes the recipients to receive, possess, use, retain and transfer the Personal Data,
in electronic or other form, for the purposes of implementing, administering and managing Participant’s participation in
the Plan, including any requisite transfer of such Personal Data as may be required to a broker or other third party with whom
Participant may elect to deposit any Shares received. Participant understands that Personal Data will be held only as long as
is necessary to implement, administer and manage Participant’s participation in the Plan. Participant understands that he
or she may, at any time, view Personal Data, request additional information about the storage and processing of Personal Data,
require any necessary amendments to Personal Data or refuse or withdraw the consents herein, without cost, by contacting in writing
Participant’s local human resources representative. Participant understands that refusal or withdrawal of consent may affect
Participant’s ability to participate in the Plan or to realize benefits from the Plan. For more information on the consequences
of Participant’s refusal to consent or withdrawal of consent, Participant understands that he or she may contact his or
her local human resources representative.

 

    	37 

     

    

 

22.
Foreign Exchange Fluctuations and Restrictions. Participant understands and agrees that the future value of the underlying
Shares is unknown and cannot be predicted with certainty and may decrease. Participant also understands that neither the Company,
nor any affiliate is responsible for any foreign exchange fluctuation between local currency and the United States Dollar or the
selection by the Company or any affiliate in its sole discretion of an applicable foreign currency exchange rate that may affect
the value of the Restricted Stock Units or Shares received (or the calculation of income or Tax-Related Items thereunder). Participant
understands and agrees that any cross-border remittance made to transfer proceeds received upon the sale of Shares must be made
through a locally authorized financial institution or registered foreign exchange agency and may require the Participant to provide
such entity with certain information regarding the transaction.

 

23.
Amendment, Suspension or Termination of the Plan. By accepting this Award, Participant expressly warrants that he or she
has received an Award of Restricted Stock Units under the Plan, and has received, read and understood a description of the Plan.
Participant understands that the Plan is discretionary in nature and may be amended, suspended or terminated by the Company at
any time.

 

24.
Governing Law. This Award Agreement will be governed by the laws of the State of Delaware, without giving effect to the
conflict of law principles thereof. For purposes of litigating any dispute that arises under this Award of Restricted Stock Units
or this Award Agreement, the parties hereby submit to and consent to the jurisdiction of the State of Ohio.

 

    	38

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