Document:

Exhibit 10.26(d)

 

Execution Version

 

TWIN RIVER
WORLDWIDE HOLDINGS, INC.

AMENDMENT
TO NONQUALIFIED STOCK OPTION AGREEMENT(S)

 

THIS AMENDMENT (this “Amendment”)
is effective as of September 23, 2015 between Twin River Worldwide Holdings, Inc. (f/k/a BLB Worldwide Holdings, Inc., the “Company”)
and Glenn Carlin (the “Participant”):

 

RECITALS

 

WHEREAS, the Company and the Participant
have previously entered into one or more Nonqualified Stock Option Agreements (each, as applicable and as previously amended, an
“Option Agreement”).

 

WHEREAS, the purpose of this Amendment is
to change the second put period during each applicable year from November to October of the applicable year. Capitalized terms
not otherwise defined herein will have the same meaning as in the applicable Option Agreement.

 

NOW THEREFORE, in consideration of the mutual
covenants herein set forth, the parties agree as follows:

 

1.          The
applicable definitions set forth in Section 3(c) of each Option Agreement are hereby amended and restated in their entirety as
follows:

 

The “Second 2016 Put Period”
shall mean “October of 2016”.

 

The “Second 2017 Put Period”
shall mean “October of 2017”.

 

The “Second 2018 Put Period”
shall mean “October of 2018”.

 

The “Second Subsequent Put Period”
shall mean “October of any year after 2018”.

 

2.          Except
as amended hereby, each Option Agreement will remain in full force and effect in accordance with its terms.

 

	 	Twin River Worldwide Holdings, Inc.
	 	 
	 	By:	/s/ George Papanier
	 	Name:	 George Papanier
	 	Title:	 Chief Executive Officer

 

Agreed and acknowledged:

 

	/s/ Glenn Carlin	 
	Glenn CarlinExhibit 10.26(e)

 

Execution Version

 

TWIN RIVER
WORLDWIDE HOLDINGS, INC.

AMENDMENT TO NONQUALIFIED STOCK OPTION AGREEMENT(S)

 

THIS AMENDMENT (this “Amendment”)
is effective as of January 12, 2017 between Twin River Worldwide Holdings, Inc. (f/k/a BLB Worldwide Holdings, Inc., the “Company”)
and Glenn Carlin (the “Participant”):

 

RECITALS

 

WHEREAS, the Company and the Participant
have previously entered into one or more Nonqualified Stock Option Agreements (each, as applicable and as previously amended, an
“Option Agreement”).

 

WHEREAS, the purpose of this Amendment is
to clarify the applicable put right limitations in light of subsequently granted equity awards. Capitalized terms not otherwise
defined herein will have the same meaning as in the applicable Option Agreement.

 

NOW THEREFORE, in consideration of the mutual
covenants herein set forth, the parties agree as follows:

 

1.          Section
3(c)(i)(E) of each Option Agreement is hereby amended and restated in its entirety as follows:

 

“(E) In the event that the Company would
otherwise be required to purchase or cancel Shares (whether then outstanding or subject to outstanding options) in excess of the
amount permitted by the Regulatory Agreement or the Company’s financing agreements during the First 2016 Put Period, the
Second 2016 Put Period, the First 2017 Put Period, the Second 2017 Put Period, the First 2018 Put Period, the Second 2018 Put Period
any First Subsequent Put Period or any Second Subsequent Put Period (each, a “Put Period”), or at the time of any request
pursuant to Section 3(c)(ii) (any such applicable requested time, an “Applicable Time”), then the number of Shares
requested to be purchased or cancelled during the applicable Put Period or at the Applicable Time pursuant to this Section 3(c)
will be reduced on a pro-rata basis by multiplying the number of Shares requested to be purchased or cancelled during the applicable
Put Period or at the Applicable Time pursuant to this Section 3(c) by the Permitted Share Percentage for the applicable Put Period
or the Applicable Time. The “Permitted Share Percentage” for an applicable Put Period or an Applicable Time means a
percentage represented by a fraction, the numerator of which is (x) the maximum total dollar value which the Company could use
to purchase or cancel Shares during the applicable Put Period or at the Applicable Time pursuant to this Section 3(c) without triggering
the limitations imposed by this Section 3(c)(i)(E), and the denominator of which is (y) the total dollar value necessary for the
Company to purchase or cancel all Shares that would otherwise be required to be purchased or cancelled by the Company.”

 

2.          Except
as amended hereby, each Option Agreement will remain in full force and effect in accordance with its terms.

 

(SIGNATURES ON FOLLOWING PAGE)

 

     

     

    

 

	 	Twin River Worldwide Holdings, Inc.
	 	 	 
	 	By:	/s/ George Papanier
	 	Name:  	George Papanier
	 	Title:	 Chief Executive Officer

 

	Agreed and acknowledged:	 
	 	 
	/s/ Glenn Carlin	 
	Glenn Carlin	 

 

     2Exhibit 10.26(f)

 

trwh

 

March 14, 2018

 

Mr. Glenn Carlin

##############

##############

 

	 	Re:	Equity Award Put Changes

 

Dear Participant

 

Twin River Worldwide Holdings, Inc. (the
“Company”) previously granted you one or more options to purchase shares of the Company’s common stock
and/or restricted stock unit awards pursuant to one or more applicable Nonqualified Stock Option Agreements and/or Restricted Stock
Unit Award Agreements (collectively, and as amended, the “Award Agreements”). Any capitalized term not defined
in this letter agreement will have the meaning under the applicable Award Agreement.

 

The Award Agreements previously provided
you the ability to sell to the Company a specified number of shares (or to surrender stock options for spread value) in April or
October of each year, subject to certain limitations. However, the Company will now instead allow you to exercise these rights
during each ten trading day period beginning on the second trading day after the date on which the Company has announced (by posting
on its investor data site) quarterly or annual earnings and conducted a conference call with shareholders (each such period, a
“Window”). As such, it is expected that there will be four Window periods each year. The first Window is expected
to open in connection with the Company’s fourth quarter 2017 shareholder conference call in April 2018 (the “April
2018 Window”). However, no Window (including, without limitation, the April 2018 Window) will open if the Board of Directors
of the Company (the “Board”) determines that circumstances exist which make opening that Window inadvisable.
The Company will notify you of any such determination.

 

The sale price will be the most recent average
of the bid-ask prices quoted to the Company by a market maker for the most recent trading day prior to the opening of the relevant
Window, and will be communicated to you promptly after the opening of the Window.

 

In the event that the Company would otherwise
be required during any Window to purchase or cancel shares in excess of the amount permitted, including without limitation by any
regulatory agreement or the Company’s financing agreements, then your requested share repurchase will be pro-rated (based
on a fraction equal to the maximum value of shares the Company would be permitted to repurchase during the applicable Window, divided
by the total value of all requested share repurchases during the applicable Window).

 

Twin River Worldwide Holdings, Inc. 100
Twin River Road, Lincoln, RI 02865 401.475.8474

 

     

    	Page 2	 

    

 

Any interpretation of this letter agreement
by the Board or its Compensation Committee will be conclusive and binding on you.

 

Your Award Agreements will be amended hereby
to the extent set forth herein by your execution of this letter agreement and return of it to Craig Eaton (email: ceaton@twinriver.com).
Except as amended hereby, each Award Agreement will remain in full force and effect in accordance with its terms.

  

 

	 	TWIN RIVER WORLDWIDE HOLDINGS, INC.
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Craig Eaton	 
	 	Name:   Craig Eaton	 
	 	Title:   Sr. VP and General Counsel	 

 

  

Please acknowledge your agreement by signing
below:

 

	Signature:	/s/ Glenn Carlin	 

Printed Name:  Glenn CarlinExhibit 10.27

 

Final Version

 

Twin River Worldwide Holdings, Inc.

2015 Stock Incentive Plan

 

1.          Purpose.  The
purpose of the Twin River Worldwide Holdings, Inc. 2015 Stock Incentive Plan is to further align the interests of participants
with those of the shareholders by providing incentive compensation opportunities tied to the performance of the Common Stock and
by promoting increased ownership of the Common Stock by such individuals.  The Plan is also intended to advance the interests
of the Company and its shareholders by attracting, retaining and motivating key personnel upon whose judgment, initiative and effort
the successful conduct of the Company’s business is largely dependent, as part of a management equity plan designed to comply
with Regulation D or Rule 701, as applicable, promulgated under the Securities Act.

 

2.          Definitions.  Wherever
the following capitalized terms are used in the Plan, they shall have the meanings specified below:

 

“Affiliate” shall mean
any person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control
with, the Company (within the meaning of the Exchange Act).

 

“Award” means an award
of a Stock Option, Restricted Stock Award, Restricted Stock Unit Award, or Other Stock-Based Award granted under the Plan.

 

“Award Agreement” means
an agreement entered into between the Company and a Participant setting forth the terms and conditions of an Award granted to a
Participant, as provided in Section 12.1 hereof.

 

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

 

“Cause” shall have the
meaning set forth in Section 10.2(b) hereof.

 

“Change in Control” shall
mean:  (i) the acquisition by a Person or group of Persons (other than one or more Permitted Holders) of Common Stock
of the Company that constitutes at least 50% of the total fair market value or the total voting power of the Common Stock of the
Company then outstanding, (B) a merger, amalgamation, consolidation or similar transaction that results in the stockholders of
the Company, as of immediately prior to such transaction, together with the Permitted Holders, ceasing to collectively and beneficially
own at least 50% of the outstanding Common Stock of the surviving or resulting corporation as of immediately following such transaction,
or (C) a sale of all or substantially all of the assets of the Company (or any Affiliate or subsidiary of the Company holding substantially
all of the assets of the Company on a consolidated basis) to a Person or a group of Persons (other than one or more Permitted Holders)
in a 12-month period, measured from the date of the most recent acquisition of the Company’s (or such Affiliate’s or
subsidiary’s) assets by such Person or group of Persons.

 

“Code” means the United
States Internal Revenue Code of 1986, as amended, together with the applicable regulations thereunder.

 

     

     

    

 

“Committee” means the Compensation
Committee of the Board, or such other committee of the Board appointed by the Board to administer the Plan, or the full Board if
no such committee is appointed.

 

“Common Stock” means the
Company’s common stock, par value $0.01 per share.

 

“Company” means Twin River
Worldwide Holdings, Inc. and any successor thereto.

 

“Date of Grant” means the
date on which an Award under the Plan is granted by the Committee, or such later date as the Committee may specify to be the effective
date of an Award.

 

“Disability” means, unless
otherwise provided in an Award Agreement or as set forth in an employment agreement between a Participant and the Company, a Participant
being considered “disabled” within the meaning of Section 409A of the Code.

 

“Effective Date” means
December 9, 2015.

 

“Eligible Person” means
any person who is an employee, director, or consultant of the Company or any of its Subsidiaries.

 

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

 

“Existing Plan” means the
2010 BLB Worldwide Holdings, Inc. Stock Option Plan, as amended.

 

“Fair Market Value” of
a share of Common Stock shall be the fair market value of such share as determined by the Committee in its discretion, and to the
extent deemed appropriate by the Committee, based upon a recent transaction price per share or third-party valuation of the Common
Stock and, to the extent necessary, shall be determined in a manner consistent with Section 409A of the Code; provided that, in
the event the Common Stock is publicly traded as of the date of any determination hereunder, “Fair Market Value” shall
be determined by reference to the closing trading price of the Common Stock on the trading date immediately prior to such date
of determination.

 

“Good Reason” means, unless
otherwise provided in an applicable Award Agreement or as set forth in a written employment agreement between a Participant and
the Company, (i) a material diminution in the Participant’s base salary, other than a reduction in base salary that affects
all similarly situated executives of the Company in substantially the same proportion; (ii) a material diminution in the Participant’s
responsibilities to the Company (other than temporarily while the Participant is physically or mentally incapacitated or as required
by applicable law); or (iii) a relocation of the Participant’s principal place of service to the Company such that the distance
between the Participant’s primary residence as of such relocation and the Participant’s principal place of service
to the Company is increased by more than 50 miles; provided, however, that the foregoing conditions will constitute Good Reason
only if the Participant provides written notice to the Company within 45 days of the initial existence of the condition(s) constituting
Good Reason and the Company fails to cure such condition(s) within 60 days after receipt from the Participant of such notice.  For
the purposes of this definition, “Company” shall include any Affiliate or Subsidiary of the Company and any entity
with whom the Participant holds a position at the request of the Company.

 

    	 	- 2 -	 

     

    

 

“Incentive Stock Option”
means a Stock Option granted under Section 6 hereof that is intended to meet the requirements of Section 422 of the Code.

 

“Involuntary Termination”
means, unless otherwise provided in an applicable Award Agreement, the termination of a Participant’s Service for any reason
other than (i) by the Company for Cause or (ii) by the Participant without Good Reason (and other than the Participant’s
Retirement).  For avoidance of doubt, unless otherwise provided in an applicable Award Agreement, an Involuntary Termination
shall include a termination of a Participant’s Service due to the Participant’s death, Disability or Retirement.

 

“Nonqualified Stock Option”
means a Stock Option granted under Section 6 hereof that is not an Incentive Stock Option.

 

“Other Stock-Based Award”
means any right granted pursuant to Section 9 hereof which is (i) not an Award described in Sections 6 through 8 hereof, and (ii)
an Award of Common Stock or an Award denominated or payable in, valued in whole or in part by reference to, or otherwise based
on or related to, Common Stock (including, without limitation, securities convertible into Common Stock), as deemed by the Committee
to be consistent with the purposes of the Plan.

 

“Participant” means any
Eligible Person who holds an outstanding Award under the Plan.

 

“Permitted Holder” means
(i) any trustee or other fiduciary holding securities of the Company under an employee benefit plan of the Company or any of its
Affiliates, (ii) any Subsidiary of the Company and (iii) any Person owned, directly or indirectly, by the shareholders of the Company
in substantially the same proportions as their ownership of securities of the Company.

 

“Person” means an individual,
partnership, corporation, unincorporated organization, joint stock company, limited liability company, trust, joint venture or
other legal entity, or a governmental agency or political subdivision thereof.

 

“Plan” means the Twin River
Worldwide Holdings, Inc. 2015 Stock Incentive Plan as set forth herein, effective as provided in Section 14.1 hereof and as may
be amended and/or restated from time to time.

 

“Qualified Initial Public Offering”
or “IPO” means the first underwritten public offering of the Common Stock covering the offer and sale of Common
Stock for the account of the Company underwritten by a reputable nationally recognized underwriter pursuant to which the Common
Stock will be quoted on a nationally-recognized securities exchange.

 

    	 	- 3 -	 

     

    

 

“Qualified Liquidity Event”
or “QLE” means the occurrence of either (i) a Qualified Initial Public Offering or (ii) a Change in Control.

 

“Replaced Award” means
an Award that is replaced or adjusted by a Replacement Award.

 

“Replacement Award” means,
with respect to a Replaced Award, an award that (i) is of the same type (e.g., stock option for Stock Option, restricted stock
for Restricted Stock Award, restricted stock unit for Restricted Stock Unit Award, etc.) as the Replaced Award, (ii) has a value
at least equal to the value of the Replaced Award, (iii) relates to equity securities of the Company or its successor in the Change
in Control or another entity that is affiliated with the Company or its successor following the Change in Control, (iv) if the
Participant holding the Replaced Award is subject to U.S. federal income tax under the Code, the tax consequences to such Participant
under the Code of the Replacement Award are not less favorable to such Participant than the tax consequences of the Replaced Award,
and (v) its other terms and conditions are not less favorable to the Participant holding the Replaced Award than the terms and
conditions of the Replaced Award (including, but not limited to, the provisions that would apply in the event of a subsequent Change
in Control).  Without limiting the generality of the foregoing, the Replacement Award may take the form of a continuation
of the Replaced Award if the requirements of the preceding sentence are satisfied.  The determination of whether the
requirements for a Replacement Award are satisfied will be made by the Committee, as constituted immediately before the Change
in Control, in its sole discretion (taking into account the requirements of Treasury Regulation 1.409A-3(i)(5)(iv)(B) and compliance
of the Replaced Award or Replacement Award with Section 409A of the Code).  Without limiting the generality of the foregoing,
the Committee may determine the value of Awards and Replacement Awards that are stock options by reference to either their intrinsic
value or their fair value.

 

“Restricted Stock Award”
means a grant of shares of Common Stock to an Eligible Person under Section 7 hereof that are issued subject to such vesting and
transfer restrictions as the Committee shall determine, and such other conditions, as are set forth in the Plan and the applicable
Award Agreement.

 

“Restricted Stock Unit Award”
means a grant of a right to receive shares of Common Stock (or other consideration based on the value of shares of Common Stock)
to an Eligible Person under Section 8 hereof that are issued subject to such vesting and transfer restrictions as the Committee
shall determine, and such other conditions, as are set forth in the Plan and the applicable Award Agreement.

 

“Retirement” means a Participant’s
resignation from Service upon or following the date on which the Participant has attained (i) the age of 60 and (ii) ten Years
of Service.

 

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

 

“Service” means a Participant’s
service as an employee, director, consultant of the Company or any of its Subsidiaries, as applicable.

 

    	 	- 4 -	 

     

    

 

“Stock Option” means a
grant to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such
conditions, as are set forth in the Plan and the applicable Award Agreement.

 

“Subsidiary” means an entity
(whether or not a corporation) that is wholly or majority owned or controlled, directly or indirectly, by the Company, or any other
Affiliate of the Company that is so designated, from time to time, by the Committee, during the period of such affiliated status;
provided, however, that with respect to Incentive Stock Options, the term “Subsidiary” shall include only an entity
that qualifies under Section 424(f) of the Code as a “subsidiary corporation” with respect to the Company.

 

“Years of Service” means
the cumulative years of continuous service with the Company, its Subsidiaries and/or Affiliates (including, without limitation,
approved leaves of absence of six months or less, or legally protected leaves of absence), beginning on the date the Participant
first began service with the Company, its Subsidiaries and/or Affiliates, and counting each anniversary thereof.  A partial
year of service shall not be treated as a Year of Service.

 

3.          Administration.

 

3.1        Committee
Members.  The Plan shall be administered by the Committee, and the term “Committee” shall apply to any
person or persons to whom such authority has been delegated.  The Committee shall have the right, from time to time,
to delegate to one or more officers of the Company the authority of the Committee to grant and determine the terms and conditions
of Awards granted under the Plan, subject to the requirements of applicable law and such other limitations as the Committee shall
determine.  The Committee shall also be permitted to delegate, to any appropriate officer or employee of the Company,
responsibility for performing certain ministerial functions under the Plan.  In the event that the Committee’s
authority is delegated to officers or employees in accordance with the foregoing, all provisions of the Plan relating to the Committee
shall be interpreted in a manner consistent with the foregoing by treating any such reference as a reference to such officer or
employee for such purpose.  Any action undertaken in accordance with the Committee’s delegation of authority hereunder
shall have the same force and effect as if such action was undertaken directly by the Committee and shall be deemed for all purposes
of the Plan to have been taken by the Committee.

 

3.2        Committee
Authority.  The Committee shall have such powers and authority as may be necessary or appropriate for the Committee
to carry out its functions as described in the Plan.  Subject to the express limitations of the Plan, the Committee shall
have authority in its discretion to determine the Eligible Persons to whom, and the time or times at which, Awards may be granted,
the number of shares subject to each Award, the purchase price of an Award (if any), the time or times at which an Award will become
vested, exercisable or payable, the performance criteria, performance goals and other conditions of an Award, the duration of the
Award, and all other terms of the Award.  Subject to the terms of the Plan, the Committee shall have the authority to
amend the terms of an Award in any manner that is not inconsistent with the Plan, provided that no such action shall materially
and adversely affect the rights of a Participant with respect to an outstanding Award without the Participant’s consent.  The
Committee shall also have discretionary authority to interpret the Plan, to make all factual determinations under the Plan, and
to make all other determinations necessary or advisable for Plan administration, including, without limitation, to correct any
defect, to supply any omission or to reconcile any inconsistency in the Plan or any Award Agreement hereunder.  The Committee
may prescribe, amend, and rescind rules and regulations relating to the Plan.  The Committee’s determinations under
the Plan need not be uniform and may be made by the Committee selectively among Participants and Eligible Persons, whether or not
such persons are similarly situated.  The Committee shall, in its discretion, consider such factors as it deems relevant
in making its interpretations, determinations and actions under the Plan including, without limitation, the recommendations or
advice of any officer or employee of the Company or such attorneys, consultants, accountants or other advisors as the Committee
may select.  All interpretations, determinations, and actions by the Committee shall be final, conclusive, and binding
upon all parties.

 

    	 	- 5 -	 

     

    

 

3.3        Liability
& Indemnification.  The Committee or its designee shall not be liable for any action or determination made in
good faith with respect to the Plan or any Award issued hereunder.  The Company will indemnify and defend the Committee
or its designee to the maximum extent permitted by law for all actions taken on behalf of the Company with respect to the Plan.

 

4.          Shares
Subject to the Plan.

 

4.1        Number
of Shares Reserved.  Subject to adjustment pursuant to Section 4.2 hereof, the number of shares of Common Stock which
may be issued under all Awards granted to Participants under the Plan shall be 425,000 shares plus any shares of Common Stock granted
under the Existing Plan that again become available for future award grants under the Existing Plan in accordance with the terms
and conditions of the Existing Plan. Shares of Common Stock issued under the Plan may be either authorized but unissued or shares
held in the Company’s treasury.  Shares of Common Stock covered by an Award granted under the Plan shall not be
counted unless and until they are actually issued and delivered to a Participant and, therefore, the total number of shares of
Common Stock available under the Plan as of a given date shall not be reduced by shares of Common Stock relating to prior Awards
that (in whole or in part) have expired or have been forfeited, terminated or cancelled, and upon payment in cash of the benefit
provided by any Award, any shares of Common Stock that were covered by such Award will be available for issue hereunder.  For
the avoidance of doubt, the following shares of Common Stock shall again be made available for delivery to Participants under the
Plan:  (A) shares not issued or delivered as a result of the net settlement of an outstanding Stock Option, (B) shares
used to pay the exercise price or withholding taxes related to an outstanding Award, and (C) shares repurchased by the Company
using proceeds realized by the Company in connection with a Participant’s exercise of a Stock Option.  Subject
to adjustment as provided in Section 4.2 hereof:  (i) the aggregate number of shares of Common Stock with respect to
which Incentive Stock Options may be granted under the Plan shall be 425,000 shares; (ii) unless otherwise determined by the Committee,
the maximum number of shares of Common Stock with respect to which Awards may be granted to any single Participant in respect of
any single calendar year (including, without limitation, as a portion of any applicable performance period) shall be 85,000 shares;
and (iii) the maximum number of shares of Common Stock with respect to which Awards may be granted to any single non-employee member
of the Board in any single calendar year (including, without limitation, as a portion of any applicable performance period) shall
be 13,000 shares.

 

    	 	- 6 -	 

     

    

 

4.2        Adjustments.  If
there shall occur any change with respect to the outstanding shares of Common Stock by reason of any recapitalization, reclassification,
stock dividend, extraordinary dividend, stock split, reverse stock split, or other distribution with respect to the shares of Common
Stock, or any merger, reorganization, consolidation, combination, spin-off, or other similar corporate change, or any other change
affecting the Common Stock, the Committee shall, in the manner and to the extent it considers equitable to the Participants and
consistent with the terms of the Plan, cause an adjustment to be made to (i) the number and kind of shares of Common Stock, units,
or other rights (including, without limitation, cancellation of the awards in exchange for a cash payment) subject to then outstanding
Awards, (ii) the exercise price or base price for each share or unit or other right subject to then outstanding Awards, and (iii)
any other terms of an Award that are affected by the event or change.  For the avoidance of doubt, the Committee shall
make adjustments in accordance with the immediately preceding sentence, to the extent it considers equitable to the Participants
and consistent with the terms of the Plan, in connection with any cancellation, settlement, exchange or similar occurrence or event
with respect to any outstanding contingent value rights or similar instruments.  Notwithstanding the foregoing, (a) any
such adjustments shall, to the extent necessary, be made in a manner consistent with the requirements of Section 409A of the Code,
and (b) in the case of Incentive Stock Options, any such adjustments shall, to the extent practicable, be made in a manner consistent
with the requirements of Section 424(a) of the Code.  In addition, the Committee shall have the discretionary authority
to make any of the foregoing adjustments in the event of any other material corporate transaction (including but not limited to
a joint venture transaction) involving the Company or any Affiliate, including, without limitation, by substituting (x) a different
form of Award or (y) the equity securities of an Affiliate for the Common Stock of the Company under the Plan and outstanding Awards,
if in the good faith discretion of the Committee such adjustment is necessary or advisable for purposes of compliance with securities
laws or other regulatory requirements.

 

5.          Eligibility
and Awards.  Any Eligible Person may be selected by the Committee to receive an Award and become a Participant under
the Plan.  The Committee has the authority, in its discretion, to determine and designate from time to time those Eligible
Persons who are to be granted Awards, the types of Awards to be granted, the number of shares of Common Stock subject to Awards
to be granted and the terms and conditions of such Awards consistent with the terms of the Plan.  In selecting Eligible
Persons to be Participants, and in determining the type and amount of Awards to be granted under the Plan, the Committee shall
consider any and all factors that it deems relevant or appropriate.

 

6.          Stock
Options.

 

6.1        Grant
of Stock Options.  A Stock Option may be granted to any Eligible Person selected by the Committee.  Subject
to the provisions of Section 6.6 hereof and Section 422 of the Code, each Stock Option shall be designated, in the discretion of
the Committee, as an Incentive Stock Option or as a Nonqualified Stock Option.

 

6.2        Exercise
Price.  The exercise price per share of a Stock Option shall not be less than 100% of the Fair Market Value of the
shares of Common Stock on the Date of Grant.  The Committee may, in its discretion, specify for any Stock Option an exercise
price per share that is higher than the Fair Market Value on the Date of Grant.

 

    	 	- 7 -	 

     

    

 

6.3        Vesting
of Stock Options.  The Committee shall in its discretion prescribe the time or times at which, or the conditions
upon which, a Stock Option or portion thereof shall become vested and/or exercisable.  The requirements for vesting
and exercisability of a Stock Option may be based on the continued Service of the Participant, on the attainment of specified
performance goals or on such other terms and conditions as approved by the Committee in its discretion.  The vesting
and exercisability of a Stock Option may be accelerated by, and may be dependent upon, in whole or in part, the occurrence of
a Qualified Liquidity Event.

 

6.4        Term
of Stock Options.  The Committee shall, in its discretion, prescribe in an Award Agreement the period during which
a vested Stock Option may be exercised, provided, however, that the maximum term of a Stock Option shall be ten years from the
Date of Grant. A Stock Option may be earlier terminated as specified by the Committee and set forth in an Award Agreement upon
or following the termination of a Participant’s Service with the Company or any Subsidiary. Except as otherwise provided
in this Section 6 or in an Award Agreement, no Stock Option may be exercised at any time during the term thereof unless the Participant
is then in the Service of the Company or one of its Subsidiaries, as determined in accordance with Section 12.2 hereof.

 

6.5        Stock
Option Exercise; Tax Withholding.  Subject to such terms and conditions as specified in an Award Agreement, a vested
Stock Option may be exercised in whole or in part at any time during the term thereof by notice in the form required by the Company,
together with payment of the aggregate exercise price therefore, provided that arrangements satisfactory to the Company have been
made with respect to any applicable withholding tax, pursuant to Section 13.4 hereof.  Payment of the exercise price
shall be made in the manner set forth in the Award Agreement, if so provided in an Award Agreement, or in one or more of the following
forms of payment:  (i) in cash or by cash equivalent acceptable to the Committee, (ii) in shares of Common Stock, valued
at the Fair Market Value of such shares on the date of exercise, (iii) to the extent permitted by the Committee in its discretion,
by reduction in the number of shares of Common Stock otherwise deliverable upon exercise of such Stock Option with a Fair Market
Value equal to the aggregate exercise price of such Stock Option at the time of exercise, (iv) by a combination of the foregoing
methods, or (v) by such other method as may be approved by the Committee and set forth in the Award Agreement.

 

6.6          Additional
Rules for Incentive Stock Options.

 

a)          Eligibility.  An
Incentive Stock Option may only be granted to an Eligible Person who is considered an employee for purposes of Treasury Regulation
§1.421−7(h) with respect to the Company or any Subsidiary that qualifies as a “subsidiary corporation” with
respect to the Company for purposes of Section 424(f) of the Code.

 

b)          Annual
Limits.  No Incentive Stock Option shall be granted to a Participant as a result of which the aggregate Fair Market
Value (determined as of the Date of Grant) of Common Stock with respect to which incentive stock options under Section 422 of the
Code are exercisable for the first time in any calendar year under the Plan and any other stock option plans of the Company or
any subsidiary or parent corporation, would exceed $100,000, determined in accordance with Section 422(d) of the Code. This limitation
shall be applied by taking stock options into account in the order in which they were granted.

 

    	 	- 8 -	 

     

    

 

c)          Termination
of Employment.  An Award of an Incentive Stock Option may provide that such Stock Option may be exercised not later
than three months following termination of employment of the Participant with the Company and all Subsidiaries, or not later than
one year following a permanent and total disability within the meaning of Section 22(e)(3) of the Code, as and to the extent determined
by the Committee to comply with the requirements of Section 422 of the Code.

 

d)          Other
Terms and Conditions; Nontransferability.  Any Incentive Stock Option granted hereunder shall contain such additional
terms and conditions, not inconsistent with the terms of the Plan, as are deemed necessary or desirable by the Committee, which
terms, together with the terms of the Plan, shall be intended and interpreted to cause such Incentive Stock Option to qualify as
an “incentive stock option” under Section 422 of the Code.  An Award Agreement for an Incentive Stock Option
may provide that such Stock Option shall be treated as a Nonqualified Stock Option to the extent that certain requirements applicable
to “incentive stock options” under the Code shall not be satisfied.  An Incentive Stock Option shall by its
terms be nontransferable other than by will or by the laws of descent and distribution, and shall be exercisable during the lifetime
of a Participant only by such Participant.

 

e)          Disqualifying
Dispositions.  If shares of Common Stock acquired by exercise of an Incentive Stock Option are disposed of within
two years following the Date of Grant or one year following the transfer of such shares to the Participant upon exercise, the Participant
shall, promptly following such disposition, notify the Company in writing of the date and terms of such disposition and provide
such other information regarding the disposition as the Company may reasonably require.

 

7.          Restricted
Stock Awards.

 

7.1        Grant
of Restricted Stock Awards.  A Restricted Stock Award may be granted to any Eligible Person selected by the Committee.  The
Committee may require the payment by the Participant of a specified purchase price in connection with any Restricted Stock Award.  The
Committee may provide in an Award Agreement for the payment of dividends and distributions to the Participant at such times as
paid to stockholders generally or at the times of vesting or other payment of the Restricted Stock Award.

 

7.2        Vesting
Requirements.  The restrictions imposed on shares granted under a Restricted Stock Award shall lapse in accordance
with the vesting requirements specified by the Committee in the Award Agreement.  The requirements for vesting of a Restricted
Stock Award may be based on the continued Service of the Participant, on the attainment of specified performance goals or on such
other terms and conditions as approved by the Committee in its discretion.  The vesting of a Restricted Stock Award may
be accelerated by, and may be dependent upon, in whole or in part, the occurrence of a Qualified Liquidity Event.  If
the vesting requirements of a Restricted Stock Award shall not be satisfied, the Award shall be forfeited and the shares of Common
Stock subject to the Award shall be returned to the Company.

 

    	 	- 9 -	 

     

    

 

7.3        Rights
as Shareholder.  Subject to the foregoing provisions of the Plan and the applicable Award Agreement, unless otherwise
determined by the Committee, the Participant shall have the rights of a shareholder with respect to the shares granted to the Participant
under a Restricted Stock Award, including but not limited to the right to vote the shares and receive all dividends and other distributions
paid or made with respect thereto.  Any Common Stock or other securities received as a stock dividend or distribution
will be subject to the same restrictions as the underlying Restricted Stock Award.

 

7.4        Section
83(b) Election.  If a Participant makes an election pursuant to Section 83(b) of the Code with respect to a Restricted
Stock Award, the Participant shall file, within 30 days following the Date of Grant, a copy of such election with the Company and
with the Internal Revenue Service, in accordance with the regulations under Section 83 of the Code.  The Committee may
provide in an Award Agreement that the Restricted Stock Award is conditioned upon the Participant’s making or refraining
from making an election with respect to the Award under Section 83(b) of the Code.

 

7.5        Tax
Withholding.  Subject to such terms and conditions as specified in an Award Agreement, the restrictions applicable
to a Restricted Stock Award shall not lapse at the time such Restricted Stock Award vests unless all withholding tax obligations
have been satisfied pursuant to Section 13.4 of the Plan.

 

8.          Restricted
Stock Unit Awards.

 

8.1        Grant
of Restricted Stock Unit Awards.  A Restricted Stock Unit Award may be granted to any Eligible Person selected by
the Committee.  The Committee may require the payment by the Participant of a specified purchase price in connection
with any Restricted Stock Unit Award.

 

8.2        Payment.
A Restricted Stock Unit Award may be settled by the delivery of shares of Common Stock, their cash equivalent, any combination
thereof, or in any other form of consideration, as determined by the Committee and contained in the Award Agreement.

 

8.3        Vesting
Requirements.  The restrictions or conditions imposed on shares granted under a Restricted Stock Unit Award shall
lapse in accordance with the vesting requirements specified by the Committee in the applicable Award Agreement.  The
requirements for vesting of a Restricted Stock Unit Award may be based on the continued Service of the Participant, on the attainment
of specified performance goals or on such other terms and conditions as approved by the Committee in its discretion.  The
vesting and/or settlement of a Restricted Stock Unit Award may be accelerated by, and may be dependent upon, in whole or in part,
the occurrence of a Qualified Liquidity Event.  If the vesting requirements of a Restricted Stock Unit Award shall not
be satisfied, the Award shall be forfeited.  At the time of the grant of a Restricted Stock Unit Award, the Committee,
as it deems appropriate, may impose such restrictions or conditions that delay the delivery of the shares of Common Stock (or their
cash equivalent) subject to a Restricted Stock Unit Award to a time after the vesting of such Restricted Stock Unit Award.

 

8.4        No
Rights as Shareholder.  Unless and until shares of Common Stock underlying a Restricted Stock Unit Award are actually
delivered to the Participant upon settlement of the Restricted Stock Unit Award, the Participant shall have no rights of a shareholder
with respect to the shares granted to the Participant under a Restricted Stock Unit Award, including but not limited to the right
to vote the shares or receive dividends or other distributions paid or made with respect thereto.

 

    	 	- 10 -	 

     

    

 

8.5        Dividend
Equivalents.  Dividend equivalents may be credited in respect of shares of Common Stock covered by a Restricted Stock
Unit Award, as determined by the Committee and contained in the applicable Award Agreement.  At the sole discretion of
the Committee, such dividend equivalents may be converted into additional shares of Common Stock covered by the Restricted Stock
Unit Award in such manner as determined by the Committee.  Any such dividend equivalents (including but not limited to
any additional shares covered by the Restricted Stock Unit Award credited by reason of such dividend equivalents) will be subject
to all of the same terms and conditions of the underlying Award Agreement to which they relate, including, without limitation,
with respect to the vesting and settlement thereof.

 

8.6        Tax
Withholding.  Subject to such terms and conditions as specified in an Award Agreement, no Restricted Stock Unit
Award shall be settled unless all withholding tax obligations have been satisfied pursuant to Section 13.4 of the Plan.

 

9.          Other
Stock-Based Awards.  An Other Stock-Based Award may be granted to any Eligible Person selected by the Committee.  Subject
to the terms of the Plan and any applicable Award Agreement, the Committee will determine the terms and conditions of any such
Other Stock-Based Award, including but not limited to the price, if any, at which securities may be purchased pursuant to any Other
Stock-Based Award granted under the Plan, and any applicable vesting, settlement and payment terms.

 

10.         Forfeiture
Events.

 

10.1       General.  The
Committee may specify in an Award Agreement at the time of the Award that the Participant’s rights, payments and benefits
with respect to an Award shall be subject to reduction, cancellation, forfeiture or recoupment (including, without limitation,
repayment to the Company of any gain related to the Award), or other provisions intended to have a similar effect, upon such terms
and conditions as may be determined by the Committee from time to time, upon the occurrence of certain specified events, in addition
to any otherwise applicable vesting or performance conditions of an Award.  Such events shall include, but shall not
be limited to, termination of the Participant’s Service for Cause, the Participant’s violation of material Company
policies, breach of noncompetition, confidentiality or other restrictive covenants that may apply to the Participant, any accounting
restatement by the Company or its Affiliates, or any other conduct by the Participant during the Participant’s Service that
is detrimental to the business or reputation of the Company.  In addition, notwithstanding anything in the Plan to the
contrary, any Award Agreement may also provide for the reduction, cancellation, forfeiture or recoupment (including, without limitation,
repayment to the Company of any gain related to the Award), or other provisions intended to have a similar effect, upon such terms
and conditions as may be required by the Committee or under Section 10D of the Exchange Act and any applicable rules or regulations
promulgated by the SEC or any national securities exchange or national securities association on which the Common Stock may be
traded or under any clawback or similar policy adopted by the Company.

 

    	 	- 11 -	 

     

    

 

10.2        Termination
for Cause.

 

a)          General.  Unless
otherwise provided by the Committee and set forth in an Award Agreement or as set forth in a written employment agreement between
a Participant and the Company, if a Participant’s employment with the Company or any Subsidiary shall be terminated for Cause,
such Participant’s rights, payments and benefits with respect to an Award shall be subject to cancellation, forfeiture and/or
recoupment.  The Company shall have the power to determine whether the Participant has been terminated for Cause and
the date upon which such termination for Cause occurs.  Any such determination shall be final, conclusive and binding
upon the Participant.  In addition, if the Company shall reasonably determine that a Participant has committed or may
have committed any act which could constitute the basis for a termination of such Participant’s employment for Cause, the
Company may suspend the Participant’s rights to exercise any option, receive any payment or vest in any right with respect
to any Award pending a determination by the Company of whether an act has been committed which could constitute the basis for a
termination for “Cause” as provided in this Section 10.2.

 

b)          Definition
of “Cause”.  For purposes of the Plan, unless otherwise provided in an applicable Award Agreement or
as set forth in a written employment agreement between a Participant and the Company, “Cause” shall mean (i)
the Participant’s violation of any material written policy of the Company; (ii) the Participant’s failure to obey the
lawful orders of the Board or the Participant’s supervisor; (iii) the Participant’s gross negligence in the performance
of, or willful disregard of, his or her obligations to the Company; (iv) the breach of any of the Participant’s obligations
under his or her employment agreement (if any), restrictive covenants agreement (if any), or any other material agreement entered
into with the Company; (v) the commission of an act by the Participant constituting financial dishonesty against the Company; (vi)
the Participant’s indictment or other criminal charge for, or conviction of or entering a plea of guilty or nolo contendere
to, a crime constituting a felony; or (vii) the commission of any act of dishonesty or moral turpitude by the Participant which
is, or is reasonably likely to be, detrimental to the Company.  For the purposes of this definition, “Company”
shall include any Affiliate or Subsidiary of the Company and any entity with whom the Participant holds a position at the request
of the Company.

 

11.         Restrictions
on Transfer.  Awards under the Plan shall not be assignable or transferable by the Participant, except by will or
by the laws of descent and distribution, and shall not be subject in any manner to assignment, alienation, pledge, encumbrance
or charge.  Notwithstanding the foregoing, in the event of the death of a Participant while employed by the Company or
any of its Subsidiaries, except as otherwise provided by the Committee in an applicable Award Agreement, an outstanding Award may
become payable to the Participant’s beneficiary as designated by the Participant in the manner prescribed by the Committee
or, in the absence of an authorized beneficiary designation, by the a legatee or legatees of such Award under the Participant’s
last will, or by the Participant’s executors, personal representatives or distributees of such Award in accordance with the
Participant’s will or the laws of descent and distribution.

 

    	 	- 12 -	 

     

    

 

12.         General
Provisions.

 

12.1        Award
Agreement.  To the extent deemed necessary by the Committee, an Award under the Plan shall be evidenced by an Award
Agreement in a written or electronic form approved by the Committee setting forth the number of shares of Common Stock subject
to the Award, the purchase price of the Award (if any), the time or times at which an Award will become vested, exercisable or
payable and the term of the Award.  The Award Agreement may also set forth the effect on an Award of a Qualified Liquidity
Event and a termination of Service under certain circumstances.  The Award Agreement shall be subject to and incorporate,
by reference or otherwise, all of the applicable terms and conditions of the Plan, and may also set forth other terms and conditions
applicable to the Award as determined by the Committee consistent with the limitations of the Plan.  An Award Agreement
may be in the form of an agreement to be executed by both the Participant and the Company (or an authorized representative of the
Company) or certificates, notices or similar instruments as approved by the Committee.  The Committee need not require
the execution of an Award Agreement by a Participant, in which case, acceptance of the Award by the Participant shall constitute
agreement by the Participant to the terms, conditions, restrictions and limitations set forth in the Plan and the Award Agreement.

 

12.2        Determinations
of Service. 

 

a)          The
Committee shall make all determinations relating to the Service of a Participant with the Company or any Subsidiary in connection
with an Award, including, without limitation, with respect to the continuation, suspension or termination of such Service. A Participant’s
Service shall not be deemed terminated if the Committee determines that (i) a transition of employment to service with a partnership,
joint venture or corporation not meeting the requirements of a Subsidiary in which the Company or a Subsidiary is a party is not
considered a termination of Service, (ii) the Participant transfers between service as an employee and service as a consultant
or other personal service provider (or vice versa), or (iii) the Participant transfers between service as an employee and that
of a non-employee director (or vice versa).  The Committee may determine whether any corporate transaction, such as a
sale or spin-off of a division or subsidiary that employs a Participant, shall be deemed to result in a termination of Service
for purposes of any affected Awards, and the Committee’s decision shall be final and binding.

 

b)          Notwithstanding
any term or provision to the contrary in the Plan, any Award Agreement, or any employment agreement between the Company or any
Affiliate and a Participant, the date of any termination of Service of a Participant for purposes of the Plan shall be as determined
by the Committee, and in the case of the termination without Cause of a Participant’s Service, shall be deemed to be the
date that actual notice of termination of Service is delivered to the Participant, as determined by the Committee, without regard
to any period of notice or reasonable notice of termination of Service, or pay in lieu thereof, to which the Participant may be
entitled under applicable law or otherwise.

 

12.3         No
Right to Employment or Continued Service.  Nothing in the Plan, in the grant of any Award or in any Award Agreement
shall confer upon any Eligible Person or any Participant any right to continue in the Service of the Company or any of its Subsidiaries,
or interfere in any way with the right of the Company or any of its Subsidiaries to terminate the employment or other service relationship
of an Eligible Person or a Participant for any reason at any time.

 

    	 	- 13 -	 

     

    

 

12.4         Rights
as Shareholder.  A Participant shall have no rights as a holder of shares of Common Stock with respect to any unissued
securities covered by an Award until the date the Participant becomes the holder of record of such securities.  Except
as provided in Section 4.2 hereof, no adjustment or other provision shall be made for dividends or other shareholder rights, except
to the extent that the Award Agreement provides for dividend payments or dividend equivalent rights.  The Committee may
determine, in its discretion, the manner of delivery of Common Stock to be issued under the Plan, which may be by delivery of stock
certificates, electronic account entry into new or existing accounts or any other means as the Committee, in its discretion, deems
appropriate.  The Committee may require that the stock certificates be held in escrow by the Company for any shares of
Common Stock or cause the shares to be legended in order to comply with the securities laws or other applicable restrictions.  Should
the shares of Common Stock be represented by book or electronic account entry rather than a certificate, the Committee may take
such steps to restrict transfer of the shares of Common Stock as the Committee considers necessary or advisable.

 

12.5         Other
Compensation and Benefit Plans.  The adoption of the Plan shall not affect any other share incentive or compensation
plans in effect for the Company or any Subsidiary, nor shall the Plan preclude the Company from establishing any other forms of
share incentive or other compensation or benefit program for employees of the Company or any Subsidiary.  The amount
of any compensation deemed to be received by a Participant pursuant to an Award shall not constitute includable compensation for
purposes of determining the amount of benefits to which a Participant is entitled under any other compensation or benefit plan
or program of the Company or a Subsidiary, including, without limitation, under any pension or severance benefits plan, except
to the extent specifically provided by the terms of any such plan.

 

12.6         Plan
Binding on Transferees.  The Plan shall be binding upon the Company, its transferees and assigns, and the Participant,
the Participant’s executor, administrator and permitted transferees and beneficiaries.

 

12.7         Additional
Restrictions.  In the event of a Change in Control, a similar corporate event or a change in capital structure, any
Awards that vest or become payable as a result of or in connection with the applicable event or circumstances may be subject to
the same terms and conditions applicable to the proceeds realized by the Company or its shareholders in connection therewith (including,
without limitation, payment timing and any escrows, indemnities, payment contingencies or holdbacks), as determined by the Committee
in its sole discretion, subject to compliance with Section 409A of the Code.

 

    	 	- 14 -	 

     

    

 

13.         Legal
Compliance

 

13.1       Securities
Laws.

 

a)          No
shares of Common Stock will be issued or transferred pursuant to an Award unless and until all applicable requirements imposed
by Federal and state securities and other laws, rules and regulations and by any regulatory agencies having jurisdiction, and by
any exchanges upon which the shares of Common Stock may be listed, have been fully met.  As a condition precedent to
the issuance of shares pursuant to the grant or exercise of an Award, the Company may require the Participant to take any reasonable
action to meet such requirements.  The Committee may impose such conditions on any shares of Common Stock issuable under
the Plan as it may deem advisable, including, without limitation, restrictions under the Securities Act or under the requirements
of any exchange upon which such shares of the same class are then listed or of any regulatory agency having jurisdiction over the
Company, and under any blue sky or other securities laws applicable to such shares.  The Committee may also require the
Participant to represent and warrant at the time of issuance or transfer that the shares of Common Stock are being acquired only
for investment purposes and without any current intention to sell or distribute such shares.  Certificates representing
Common Stock acquired pursuant to an Award may bear such legend as the Committee may consider appropriate under the circumstances.

 

b)          From
the time the Company commences reliance on the exemption from registration provided by Rule 12h-1(f)(1) of the Exchange Act and
until the Company ceases such reliance or becomes subject to the reporting requirements of Sections 13 or 15(d) of the Exchange
Act, the Company shall provide to the option holders the information required to be delivered under Rule 12h-1(f)(1)(vi) of the
Exchange Act, as applicable, in accordance with such rule.

 

13.2        Unfunded
Plan.  The adoption of the Plan and any reservation of shares of Common Stock or cash amounts by the Company to discharge
its obligations hereunder shall not be deemed to create a trust or other funded arrangement.  Except upon the issuance
of Common Stock pursuant to an Award, any rights of a Participant under the Plan shall be those of a general unsecured creditor
of the Company, and neither a Participant nor the Participant’s permitted transferees or estate shall have any other interest
in any assets of the Company by virtue of the Plan.  Notwithstanding the foregoing, the Company shall have the right
to implement or set aside funds in a grantor trust, subject to the claims of the Company’s creditors or otherwise, to discharge
its obligations under the Plan.

 

13.3         Section
409A Compliance.  To the extent applicable, it is intended that the Plan and all Awards hereunder comply with the
requirements of Section 409A of the Code and the Treasury Regulations and other guidance issued thereunder, and that the Plan and
all Award Agreements shall be interpreted and applied by the Committee in a manner consistent with this intent in order to avoid
the imposition of any additional tax under Section 409A of the Code.  In the event that any provision of the Plan or
an Award Agreement is determined by the Committee to not comply with the applicable requirements of Section 409A of the Code and
the Treasury Regulations and other guidance issued thereunder, the Committee shall have the authority to take such actions and
to make such changes to the Plan or an Award Agreement as the Committee deems necessary to comply with such requirements, provided
that no such action shall materially and adversely affect any outstanding Award without the consent of the affected Participant.  Notwithstanding
anything contained herein to the contrary, a Participant shall not be considered to have terminated service with the Company for
purposes of any payments under the Plan which are subject to Section 409A of the Code until the Participant has incurred a “separation
from service” from the Company within the meaning of Section 409A of the Code.  Each amount to be paid or benefit
to be provided under the Plan shall be construed as a separate identified payment for purposes of Section 409A of the Code.  If
any payment or benefit provided to a Participant in connection with his or her separation from service is determined to constitute
“nonqualified deferred compensation” within the meaning of Section 409A of the Code and Participant is determined to
be a “specified employee” as defined in Section 409A of the Code, then such payment or benefit shall not be paid until
the six-month anniversary of the separation from service or, if earlier, on the Participant’s date of death.  The
Company makes no representation that any or all of the payments described in the Plan will be exempt from or comply with Section
409A of the Code.  In no event whatsoever shall the Company or any of its Subsidiaries or Affiliates be liable for any
tax, interest or penalties that may be imposed on a Participant by Section 409A of the Code or otherwise, or any damages for failing
to comply with Section 409A of the Code.

 

    	 	- 15 -	 

     

    

 

13.4        Tax
Withholding.  The Participant shall be responsible for payment of any taxes or similar charges required by law to
be paid or withheld from an Award or an amount paid in satisfaction of an Award.  Any required withholdings shall be
paid by the Participant on or prior to the payment or other event that results in taxable income in respect of an Award.  In
addition to the methods described in the Plan, the Award Agreement may specify the manner in which the withholding obligation shall
be satisfied with respect to the particular type of Award.  Without limiting the foregoing, if the Company or any Subsidiary
determines in its sole discretion that under the requirements of applicable taxation laws or regulations of any governmental authority
whatsoever it is obliged to withhold for remittance to a taxing authority any amount upon the grant, vesting, or exercise of an
Award, the other disposition or deemed disposition by a Participant of an Award or any Common Stock, or the provision of any other
benefit under the Plan, the Company or any of its Subsidiaries, on its own behalf or on behalf of any third party purchaser of
the Award or any Common Stock held by the Participant, may take any steps it considers necessary or appropriate in the circumstances
in connection therewith, including, without limiting the generality of the foregoing:

 

a)          requiring
the Participant to pay the Company or any of its Subsidiaries such amount as the Company or any of its Subsidiaries is obliged
to remit to such taxing authority in respect thereof, with any such payment, in any event, being due no later than the date as
of which any such amount first becomes included in the gross income of the Participant for tax purposes (and further provided that,
in the case of a Stock Option, such payment shall be made in the same manner as payment of any applicable exercise price or in
any other manner that may be designated by the Committee);

 

b)          issuing
any Common Stock issued pursuant to an Award to an agent on behalf of the Participant and directing the agent to sell a sufficient
number of such shares on behalf of the Participant to satisfy the amount of any such withholding obligation, with the agent paying
the proceeds of any such sale to the Company or any of its Subsidiaries for this purpose;

 

c)          withholding
from the Common Stock otherwise issuable pursuant to the exercise or settlement of an Award a number of shares of Common Stock
sufficient to satisfy the amount of any such withholding obligation; or

 

    	 	- 16 -	 

     

    

 

d)          
to the extent permitted by law and consistent with Section 409A of the Code, deducting the amount of any such withholding obligation
from any payment of any kind otherwise due to the Participant.

 

13.5         No
Guarantee of Tax Consequences.  Neither the Company, the Board, the Committee nor any other person make any commitment
or guarantee that any Federal, state, local or foreign tax treatment will apply or be available to any Participant or any other
person hereunder.

 

13.6         Severability.  If
any provision of the Plan or any Award Agreement shall be determined to be illegal or unenforceable by any court of law in any
jurisdiction, the remaining provisions hereof and thereof shall be severable and enforceable in accordance with their terms, and
all provisions shall remain enforceable in any other jurisdiction.

 

13.7         Governing
Law.  The Plan and all rights hereunder shall be subject to and interpreted in accordance with the laws of the State
of Delaware, without reference to the principles of conflicts of laws, and to applicable Federal securities laws.

 

14.         Term;
Amendment and Termination.

 

14.1       Term.  The
Plan has been adopted by the Board and shall become effective as of the Effective Date.  The term of the Plan will be
ten years from the date of adoption by the Board, subject to Section 14.2 hereof.  No Awards will be granted under the
Existing Plan on or after the Effective Date, except that outstanding Awards granted under the Existing Plan will continue unaffected
from and after the Effective Date.

 

14.2       Amendment
and Termination.  The Board may from time to time and in any respect, amend, modify, suspend or terminate the Plan
or any Award or Award Agreement hereunder.  Notwithstanding the foregoing, no amendment, modification, suspension or
termination shall materially and adversely affect any Award theretofore granted without the consent of the Participant or the permitted
transferee of the Award.

 

    	 	- 17 -

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