Document:

Exhibit
10.29

 

EMPLOYMENT
AGREEMENT

 

This
EMPLOYMENT AGREEMENT (this “Agreement”), dated as of March 29, 2018 (the “Commencement Date”), between
One Horizon Group, Inc., a Delaware corporation having an office at 34 South Molton Street, London W1K 5RG, UK (the “Company”),
and Martin Ward, having an address as set forth on the signature page (the “Executive”).

 

W 
 I T N E S S E T H:

 

WHEREAS,
the parties entered into an Employment Agreement dated August 1, 2017 (the “Employment Agreement”), whereby the Executive
agreed to serve as the Chief Financial Officer of the Company for the consideration and on the terms and conditions set forth
therein; and

 

WHEREAS,
the parties desire to amend and restate the Employment Agreement in its entirety,

 

NOW
THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties to this Agreement hereby agree
as follows:

 

1.
            Employment. The Company hereby employs Executive as its Chief Financial Officer,
commencing as of the Commencement Date, and Executive hereby accepts such employment with the Company, upon and subject to the
terms and conditions set forth in this Agreement. Executive shall not be required to spend any particular number of days at the
Company’s headquarters and may be based in a location remote from the Company’s headquarters, provided that Executive
can effectively carry out his duties from such location. Executive recognizes that international travel will be necessary in connection
with the proper discharge of his duties hereunder.

 

2.
            Term. The term of this Agreement and Executive’s employment hereunder shall
commence on the Commencement Date and continue through July 31, 2022 (the “Expiration Date,” and such period, the
“initial period”), subject to earlier termination as hereinafter provided. Subject to the provisions of Section
12 of this Agreement, this Agreement and the employment of Executive hereunder shall be automatically renewed for successive
renewal periods of one (1) year each (each, a “renewal period”), upon and subject to the terms and conditions hereof,
commencing on the Expiration Date and on each anniversary of the Expiration Date thereafter, unless either party hereto gives
the other notice of such party’s intent to terminate this Agreement and Executive’s employment hereunder at least
sixty (60) days prior to the end of the initial period or any renewal period (the actual term of employment of Executive hereunder,
whether ending on, prior to or after the Expiration Date, may be hereinafter referred to as the “Employment Period”).

 

3.
           Duties. During the Employment Period, Executive shall serve as the Chief Financial
Officer of the Company. Executive shall report directly to the Board of Directors of the Company and render such services and
perform such duties for the benefit of the Company and its affiliates as may be consistent with Executive’s position or
related thereto as the Board of Directors of the Company shall from time to time direct or request. Executive shall devote Executive’s
full business time, energy and skill to Executive’s employment hereunder and agrees to serve the Company faithfully, diligently
and to the best of Executive’s ability. So long as Executive is employed by Company as its Chief Financial Officer hereunder,
the Company shall add Executive to its Board of Directors.

 

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4.
            Compensation.

 

In
consideration of the services to be rendered by Executive hereunder, Executive shall receive from the Company the following:

 

(a)
          Salary. The Company shall pay Executive a base salary at the rate of Two Hundred
Forty Thousand Dollars ($240,000) per year, payable in equal monthly installments in accordance with the Company’s standard
payroll practices from time to time in effect. The first and last installments of such salary shall be appropriately prorated
if and to the extent that Executive shall not have been employed by the Company hereunder for the full period covered by such
installment. Executive’s performance shall be reviewed annually by the Company’s Board of Directors, in connection
with which goals and possible increases in Executive’s salary for the future will be discussed, it being understood that
any such increases shall be within the discretion of the Company’s Board of Directors.

 

(b)
          Bonus. For purposes of this Agreement an Employment Year shall be the twelve
month period commencing as of August 1 and terminating as of the immediately succeeding July 31. At least two months prior to
the commencement of each Employment Year, commencing with the year beginning August 1, 2018, the Board of Directors and the Executive
shall agree upon an Incentive Compensation Plan for the year pursuant to which, upon the attainment of agreed upon objectives,
the Executive shall be awarded five year options to purchase common stock of the Company at such price and on such conditions
as shall be agreed upon in the Compensation Plan. Any options issuable hereunder in respect of a given Employment Year shall be
issued the Company within forty-five (45) days after the determination by that the Executive has attained the objectives set forth
in the relevant Compensation Plan.

 

(c)
          Employee Benefit Plans; Annual Physical Examination; Life Insurance.

 

(i)        Employee
Benefit Plans. Executive shall be eligible to participate, in accordance with the respective terms thereof, in any employee
health, hospitalization or medical insurance plan, life insurance or disability insurance plan or any 401(k), pension or other
similar plans, that may be established and maintained by the Company for the general benefit of its senior executives, subject
to the respective terms and conditions of any such plans. The foregoing shall not, however, be construed to require the Company
to establish or maintain any such plan(s), or to prevent the Company from modifying or terminating any such plan(s) once established.

 

(ii)       Annual
Physical Examination. If and to the extent not fully covered by any then applicable health, hospitalization or medical insurance
plan of the Company in which Executive may participate, the Company shall reimburse Executive for any so unreimbursed reasonable
cost of an annual routine physical examination.

 

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(d)
         Vacation. Executive shall be entitled to take up to an aggregate of four (4)
weeks (i.e., twenty (20) business days) of vacation each Employment Year commencing with the Year beginning August 1, 2017
(or a pro rata number of vacation days in respect of any partial calendar year during the term hereof) as business conditions
permit, which shall be scheduled so as to minimize interference with the business of the Company, it being understood that unused
vacation may not accumulate from year to year, and any vacation time not used by the end of any year shall not require any additional
payment to Executive.

 

(e)
          Expenses. The Company shall reimburse Executive for Executive’s reasonable
business expenses incurred for or on behalf of the Company in furtherance of the performance by Executive of his duties hereunder,
subject to and in accordance with any then applicable expense reimbursement policy of the Company, and with any such reimbursement
to be subject to timely receipt by the Company from Executive of such receipts, vouchers and other verification as the Company
shall reasonably require to evidence such expenses. Such expenses shall include travel and lodging from the Executive’s
place of residence to any office of the Company or any other travel undertaken on behalf of the Company.

 

5.
            Deductions and Withholdings. It is understood that any and all payments and compensation
required to be made to or for the benefit of Executive pursuant to this Agreement shall be subject to such deductions and withholdings
as the Company determines are required or appropriate under applicable law.

 

6.
           Certain Representations. Executive hereby represents and warrants that Executive
is not a party to any agreement, contract or understanding, whether of employment or otherwise, and whether written or oral, express
or implied, with any current or former employer or other party, which could be deemed, in whole or in part, to be inconsistent
with or to conflict with, or could in any way restrict or prohibit Executive from entering into or performing Executive’s
obligations under, this Agreement.

 

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7.
            Confidential Information. In order to permit Executive to successfully perform
the duties associated with Executive’s employment hereunder, it is necessary to entrust Executive with certain valuable
proprietary information of the Company which is essential to the profitable operation of the Company and which gives the Company
a competitive advantage over other firms pursuing related business activities. Executive acknowledges that all non-public information,
including, but not limited to, financial information, business and strategic plans, product information, domestic and foreign
sources of supply, purchasing, manufacturing and sourcing facilities and relationships, know-how, trade secrets, market reports,
Company documents and other materials relating to the business, services and activities of the Company, customer investigations,
supplier and vendor lists, and other information regarding the Company’s licensors, suppliers, vendors, manufacturers, clients
and customers or regarding any agreements with any of the foregoing, and other confidential and proprietary information, whether
written, oral, electronically encoded or otherwise, to which Executive gains access by reason of Executive’s employment
by the Company or owned, used or possessed by the Company or its affiliates (collectively, “Confidential Information”),
is and shall remain the sole property of the Company (or such affiliates) and constitutes a valuable, special and unique asset
of the Company’s (or such affiliates’) business, access to and knowledge of which are essential to the performance
of Executive’s duties. Given the value of this Confidential Information, Executive agrees, as a condition of Executive’s
employment, that, except in the course of properly performing his duties on behalf of the Company during the period of Executive’s
employment with the Company, Executive shall not, at any time during or after the period of Executive’s employment with
the Company, without the prior written consent of the Company by its Chairman, Vice Chairman or Board of Directors, disclose any
such Confidential Information to any third party for any reason or purpose whatsoever, and Executive further agrees to immediately
return to the Company all Confidential Information (inclusive of any and all copies) upon the termination of Executive’s
employment or earlier upon the request of the Company. In addition, Executive shall not make use of any such Confidential Information
for Executive’s own purposes or for the benefit of any third party under any circumstances, during or after the period of
Executive’s employment with the Company; provided, however, that, during and after such term of employment,
these restrictions shall not apply to such Confidential Information which is then in the public domain (provided that Executive
was not responsible, directly or indirectly, for the fact that such secrets or information have entered the public domain without
the Company’s consent). Executive further agrees to disclose immediately to the Company any and all Confidential Information
conceived, discovered, introduced or developed in whole or in part by Executive at any time while employed by the Company, and
hereby assigns to the Company all of Executive’s right, title and interest in and to same, and Executive agrees to execute,
acknowledge and deliver any instruments or documents and to do all other things reasonably requested by the Company (both during
and after Executive’s employment with the Company) in order to completely vest in the Company all ownership rights in the
same.

 

8.
            Restrictive Covenant; Non-Competition; Non-Solicitation.

 

(a)
          Executive may receive offers of employment from or by others engaging in or wishing
to engage in activities reasonably similar to activities performed by Executive for the Company. Executive agrees order to protect
the legitimate business interests of the Company (including, without limitation, the Company’s goodwill and relationships
with its customers, suppliers, vendors and clients, and the Company’s Confidential Information), that Executive shall not,
directly or indirectly, without the prior written consent of the Company by its Chairman, Vice Chairman or Board of Directors:

 

(i)        while
employed by the Company and for a period one (1) year after expiration or termination of Executive’s employment for any
reason (whether voluntary or involuntary), own, manage, operate, join, control or become employed or engaged by, or render any
services of an advisory nature or otherwise to, or participate in the ownership, management, operation or control of, or otherwise
engage in, have any interest in or be connected in any manner with (except solely for the ownership by Executive of not more than
three percent (3%) of the voting capital stock of a publicly-held corporation) any person, business or activity which, directly
or indirectly, engages in or includes the internet gaming business;

 

(ii)       while
employed by the Company and for a period of one (1) year after expiration or termination of Executive’s employment for any
reason (whether voluntary or involuntary), solicit, entice or induce any Customer (as defined below) of the Company to cease or
limit its business with the Company (except if and to the extent directed to do so by the Chairman, Vice Chairman or Board of
Directors of the Company), or to become a licensor, customer, supplier, vendor or client of any other person (including, without
limitation, Executive, individually) or entity engaged in any activity or business competitive with the Company, and Executive
shall not cause, assist or facilitate any person or entity in taking any such prohibited action; or

 

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(iii)      while
employed by the Company and for a period of one (1) year after expiration or termination of Executive’s employment for any
reason (whether voluntary or involuntary), solicit, attempt to solicit or entice away from the Company’s employment, or
employ, retain or engage any employee of the Company, or former Company employee who was employed by the Company at any time during
the then prior six months, or disrupt or interfere with, or attempt to disrupt or interfere with, the Company’s relationship
with any such person, and Executive shall not cause, assist or facilitate any person or entity in taking any such prohibited action.

 

(b)
          For purposes of this Agreement, a “Customer” of the Company shall mean any
person or entity, who or which is, or was at any time within the prior one year period, a licensor or purchaser, manufacturer
or supplier of goods or services (or prospective such licensor, purchaser, manufacturer or supplier), to or from the Company,
as the case may be.

 

9.
            Certain Remedies. Executive agrees that any breach by Executive of Sections
7 or 8 of this Agreement will cause irreparable damage to the Company and that in the event of any such breach or threatened
breach, the Company shall have, in addition to any and all remedies of law, the right to an injunction, specific performance or
other equitable relief to prevent the violation of Executive’s obligations thereunder (without any obligation to post any
bond or other form of security in connection therewith); provided, however, that nothing herein contained shall
be construed as prohibiting the Company from pursuing any other remedy available for such breach or threatened breach. The prevailing
party in any litigation arising under such Sections 7, 8 or 9 of this Agreement shall be entitled to recover such party’s
reasonable attorneys’ fees and expenses with respect thereto in addition to, and not in limitation of, any and all other
available remedies.

 

10.
          Termination. The following provisions set forth the only grounds under which
this Agreement, and the employment of Executive hereunder, may be terminated prior to the Expiration Date:

 

(a)
          Termination by the Company Without Cause; Certain Non-Renewal by the Company.
Notwithstanding anything in this Agreement to the contrary, this Agreement and Executive’s employment hereunder may be terminated
by the Company at any time upon at least sixty (60) days’ prior written notice to Executive. In the event of any such termination
by the Company “without cause,” or in the event that this Agreement shall expire or terminate at the end of the initial
period or any renewal period by virtue of the Company having given notice to Executive of its intention to terminate this Agreement
at the end of such initial period or renewal period (a “Company Non-Renewal”), the Company shall thereafter owe to
the Executive, as severance and which amounts, except as specifically provided below, shall not be subject to mitigation by virtue
of the future employment of Executive a sum equal to one (1) year’s base salary (at the then current rate or if such termination
shall occur prior to the Salary Commencement Date, at the rate of $240,000 per annum). The aforesaid sum shall be paid to Executive
as provided in Section 10(h).

 

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(b)
          In the event Executive timely elects to be covered under COBRA (or the comparable medical
insurance program if the Executive’s Employment is subject to the laws of a jurisdiction other than the United States) or
otherwise requests continuation of coverage in respect of any medical or dental insurance group plan of the Company in which he
has theretofore participated, the Company shall pay or reimburse Executive for the cost of such coverage for a period of up to
the one (1) year period in respect of which severance shall be payable to Executive pursuant to the subsection (a) above.

 

(c)
          Executive acknowledges that his rights to any payments or benefits pursuant to and subject
to the provisions of this Section 10 are in place of, and not in addition to, any payments or benefits which might otherwise
be available under any current or future severance policy or similar policy or program followed by the Company or any of its affiliates,
and, accordingly, Executive hereby waives any and all such rights to receive any payments or benefits under any such other policies
and programs. Notwithstanding anything herein to the contrary, Executive hereby further acknowledges that the Company’s
obligations to make any of the payments or extend any benefits referred to in this Section 10 shall be subject to receipt
by the Company from Executive of a general release in favor of the Company, as prepared by the Company and reasonably satisfactory
to Executive.

 

(d)
          Termination by the Company For Cause. This Agreement and Executive’s employment
hereunder may be terminated immediately by the Company (by notice to Executive) for cause (as hereinafter defined). For purposes
of this Agreement, “cause” shall mean:

 

(i)        the
breach by Executive, in any material respect, of this Agreement (including, without limitation, the refusal or other failure by
Executive to perform any of Executive’s duties hereunder other than a failure to perform resulting from death or physical
or mental disability) and failure by Executive to cure such breach within ten (10) days of written notice thereof from the Company;

 

(ii)       the
commission by Executive of any act of dishonesty, fraud, intentional material misrepresentation or moral turpitude in connection
with his employment, including, but not limited to, misappropriation or embezzlement of any funds of the Company or any of its
affiliates;

 

(iii)      the
commission by Executive of any (1) willful misconduct, or (2) intentional act having the effect of injuring the reputation, business
or business relationships of the Company or any of its affiliates, and which intentional act would not reasonably be deemed to
be in the best interests of the Company;

 

(iv)      the
entering by the Executive of a plea of guilty or nolo contendere to, or the conviction of Executive for, a crime (other than a
routine traffic offense) which carries a potential penalty of imprisonment for more than ninety (90) days and/or a fine in excess
of Ten Thousand Dollars ($10,000);

 

(v)       Executive’s
abuse of alcohol, prescription drugs or controlled substances which interferes with the performance of his duties to the Company;

 

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(vi)      Executive’s
deliberate disregard of any material rule or policy of the Company and failure to cure the same within ten (10) days of written
notice thereof from the Company; or

 

(vii)     excessive
absenteeism of Executive other than for reasons of illness, after written notice from the Company with respect thereto.

 

(e)
         Termination Due to Death or Disability. Notwithstanding any other provision of
this Agreement, this Agreement shall terminate automatically upon the occurrence of Executive’s death. In addition, the
Company shall have the right, at any time after Executive shall have become disabled, to terminate this Agreement immediately.
For purposes of this Agreement, Executive shall be deemed to have become “disabled” when, by reason of physical or
mental illness, incapacity or disability, Executive shall fail to perform Executive’s duties hereunder for one continuous
period of ninety (90) days or more, or shorter periods aggregating one hundred twenty (120) days or more, within any period of
twelve (12) consecutive months; provided, however, that any days of disability separated by ten (10) or fewer days
shall be considered continuous.

 

(f)
           Voluntary Termination by Executive. This Agreement and Executive’s employment
hereunder may be voluntarily terminated by Executive at any time upon at least thirty (30) days’ prior written notice to
the Company.

 

(g)
          Termination by Executive for Good Reason. This Agreement and Executive’s
employment hereunder may be terminated at any time by Executive for “Good Reason.” For purposes of this Agreement,
Good Reason shall mean (i) a material diminution in Executive’s title, duties or responsibilities, or the assignment to
Executive of duties that, taken as a whole, are materially inconsistent with the scope of duties and responsibilities associated
with the position of Chief Financial Officer, or (ii) the breach by the Company, in any material respect, of this Agreement, and
failure by the Company to cure the same within ten (10) days of written notice thereof from Executive. In the event of a termination
of this Agreement by Executive for Good Reason, Executive shall be paid as severance the same amounts and benefits as those to
which he would have been entitled pursuant to the provisions of Section 10 in the case of a termination of this Agreement
by the Company without cause, all subject to the terms and conditions of such Section 10.

 

(h)
          Obligations of Company Upon Termination; Executive’s Remedies; Payment of All
Amounts Due. Upon termination of this Agreement for any reason other than voluntarily by the Executive in the absence of a
breach by the Company or Executive’s death, the Company within two days of such termination shall pay to Executive all amounts
due hereunder up to the date of termination and any severance provided for herein and all amounts due to Executive under any promissory
note or other instrument of the Company then held by the Executive. If the Company shall fail to do so, any promissory note or
other instrument for the payment of debt by the Company held by Executive shall automatically and without further action on the
part of the Company, shall be deemed to have become immediately due and payable.. For the avoidance of doubt, the ostensible resignation
of the Executive pursuant to a letter of resignation executed prior to the intended date of termination of his services and held
by the Company or any of its shareholders until such date shall be deemed a termination for which Executive is entitled to receive
the immediate payment of the amounts provided for in this Section.

 

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11.
          Change in Control.

 

(a)
          For purposes of this Agreement, a “Change in Control” shall be deemed to
have occurred if:

 

(i)        as
a result of a consolidation, merger, or other business combination involving the Company or the securities of the Company, the
shareholders of the Company immediately prior to such event shall cease to own, in the aggregate, securities representing at least
50% of the issued and outstanding shares of voting stock of the Company or such surviving or parent entity outstanding immediately
after such consolidation, merger or other business transaction;

 

(ii)       there
shall be a sale of all or substantially all of the assets of the Company to any person or entity who or which, in the aggregate,
did not own at least 40% of the issued and outstanding shares of voting stock of the Company immediately prior to such event;
or

 

(iii)      there
shall be a liquidation and dissolution of the Company.

 

(b)
          Subject to the provisions of subsection (c) below, for purposes of this Agreement,
in the event that during the term of this Agreement there shall be a Change in Control pursuant to which Executive’s employment
hereunder is terminated by the Company, and Newco (as defined in subsection (c) below) does not offer employment to Executive
on the same or substantially similar economic terms and conditions as those provided herein and with substantially the same level
of authority as Executive had with the Company, said termination shall be deemed a termination by the Company without cause pursuant
to Section 10 above.

 

(c)
          In the event that there shall be a Change in Control following which the persons or
entities which acquire all or substantially all of the Company’s assets or fifty percent (50%) or more of the Company’s
issued and outstanding shares of voting stock (such acquiror, collectively, “Newco”) requests that Executive enter
into a relationship whereby Executive will provide services to or for the benefit of Newco or is otherwise compensated by Newco
(a “Relationship”)) upon the same or substantially similar economic terms and conditions as those provided herein,
Executive shall be obligated to enter into such Relationship for a period of up to six months following the consummation of such
Change in Control. Upon completion of such six months service, or shorter period if consented to by Newco or as a result of Executive’s
death or disability, and notwithstanding that Executive has been paid by Newco and may continue to render services to Newco, Executive
shall be entitled to receive from the Company an amount equal to the severance payments he would have received from the Company
pursuant to Sections 10(a) and (b), respectively, had Executive’s employment by the Company been terminated on the
business day immediately prior to the date on which the Change in Control was consummated, which monies shall be payable in substantially
equal and successive bi-weekly, twice monthly or monthly installments (as may be determined by the Company, with the Company further
having the right, but not the obligation, to prepay any or all of such monies) over a period of six months commencing as of the
end of such six months or Executive’s service. If Executive shall resign from his position with Newco prior to the completion
of such period up to six months as Newco shall request that he provide services, he shall be paid an amount equal to the severance
payments he would have received from the Company pursuant to Sections 10(a) and (b), respectively, had Executive’s
employment by the Company been terminated on the business day immediately prior to the date on which the Change in Control was
consummated, less all amounts received from Newco for services rendered prior to such resignation, which monies shall be
payable in substantially equal and successive bi-weekly, twice monthly or monthly installments (as may be determined by the Company,
with the Company further having the right, but not the obligation, to prepay any or all of such monies) over a period of twelve
months commencing as of the end of Executive’s service to Newco.

 

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(d)
          For a period of two years commencing as of the date on which there occurs a Change of
Control, Executive shall have the right to demand that the Company register all or any portion of the shares of the Company’s
common stock, including shares underlying any options, warrants or convertible securities then held by Executive for sale under
the Securities Act of 1933, as amended. Upon exercise of such right, the rights and obligations of the parties shall be as set
forth in Appendix A hereto.

 

(e)
          From and after a Change in Control the Company shall cooperate with any attempt by the
Executive to sell all or any portion of the common stock held by him in accordance with Rule 144. Such cooperation shall including
causing its counsel to issue to its transfer agent such opinion letters as may be necessary to effectuate such sales.

 

12.
          Counsel. Executive acknowledges that Executive has been advised to consult with
legal counsel prior to signing this Agreement.

 

13.
          Arbitration. Except as otherwise provided in Section 9 above, any controversy,
claim or dispute arising out of or relating to this Agreement, or any breach or alleged breach hereof, which cannot be settled
amicably by the parties within a period of thirty (30) days, shall be settled by final and binding arbitration, conducted in New
York City, New York, before, and in accordance with the Commercial Arbitration Rules of, the American Arbitration Association,
and judgment upon the award rendered may be entered in any court having jurisdiction thereof. The costs of such arbitration shall
be borne equally by the parties thereto and each party shall bear such party’s own attorneys’ fees in connection with
such arbitration; provided, however, that the prevailing party in any arbitration arising under this Section
16 shall be entitled to recover from the other party such prevailing party’s reasonable attorneys’ fees and expenses
incurred with respect thereto in addition to any other available remedies.

 

14.
          Miscellaneous.

 

(a)
          Notices. All notices, requests, demands and other communications hereunder shall
be in writing and shall be either personally delivered or sent by prepaid, receipted, express overnight courier service (such
as FedEx or UPS), addressed to the party to whom or which notice is to be given at the address set forth for such party at the
beginning of this Agreement, or to such other address as such party may have fixed by notice given in accordance with this paragraph
or to such other address as the applicable party may specify by notice given in accordance with this paragraph. Any notice given
hereunder as aforesaid shall be deemed given and effective upon receipt, or if delivery is refused, upon attempted delivery in
accordance with the foregoing.

 

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(b)
          Assignability and Binding Effect. This Agreement is personal in nature and neither
of the parties hereto shall, without the prior written consent of the other (and in the case of any such consent of the Company,
signed on its behalf by its Chairman or Vice Chairman), assign or transfer this Agreement or any rights or obligations hereunder;
provided, however, that the Company shall have the right to assign and/or delegate any or all of its rights and
obligations hereunder to: (i) any person or entity who or which shall acquire (whether by sale of assets, merger or otherwise)
all or substantially all of its assets (excluding, for purposes of any such determination, cash, cash equivalents and any real
property or interests therein); or (ii) any affiliate of the Company. Any assignment or delegation by either party in violation
of this Agreement shall be null and void ab initio. Subject to the foregoing two sentences, this Agreement and all of the provisions
hereof shall be binding upon, and inure to the benefit of, the parties hereto, and their respective heirs, executors, administrators,
legal representatives, successors and permitted assigns.

 

(c)
          Severability. It is the desire and intent of the parties hereto and the provisions
of this Agreement shall be enforced to the fullest extent permissible under the laws and public policies applied in each jurisdiction
in which enforcement may be sought. Accordingly, if any one or more of the provisions of this Agreement shall be adjudicated to
be invalid, illegal or unenforceable in any respect, such provision shall be deemed amended to delete therefrom the portion thus
adjudicated to be invalid, illegal or unenforceable, such deletion to apply only with respect to the operation of such provision
in the particular jurisdiction in which such adjudication is made, and the remaining provisions contained herein shall not in
any way be affected thereby. Further, if any one or more of the provisions contained in this Agreement shall for any reason be
held to be excessively broad as to duration, geographical scope, activity or subject, such provision(s) shall be construed by
limiting and reducing the same, so as to be enforceable to the maximum extent permitted under the applicable law as it shall then
exist.

 

(d)
         Survival. Notwithstanding anything herein to the contrary, the provisions of
Sections 7, 8, 9, 10, 11, 14 and 15 shall expressly survive the expiration or termination of this Agreement, regardless
of the reason therefor.

 

(e)
          Section Headings. The section headings contained in this Agreement are for convenience
of reference only and shall not be deemed to have any substantive effect.

 

(f)
           Governing Law, Jurisdiction and Venue. This Agreement has been entered into in
the State of New York, and shall be governed by, and construed and enforced in accordance with, the laws of the State of New York
applicable to contracts made and to be performed entirely therein (without giving effect to the conflicts of laws rules thereof).
In furtherance of the foregoing, each party hereby consents to and submits to the exclusive jurisdiction of the federal and state
courts located in the State of New York, City of New York, and any action or suit under this Agreement shall be brought in the
federal or state court with appropriate jurisdiction over the subject matter established or sitting in the State of New York,
City of New York, and each party hereby agrees not to raise in connection therewith, and hereby waives, any defenses based upon
the venue, the inconvenience of the forum, the lack of personal jurisdiction, the sufficiency of service of process or the like
in any such action or suit brought in such court in the State of New York, City of New York.

 

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(g)
          Entire Agreement; Amendment; Waiver. This Agreement constitutes the entire agreement
and understanding between the parties with respect to the subject matter hereof, and cancels and supersedes any and all prior
agreements, understandings and representations, whether written or oral, express or implied, between the parties with respect
thereto. This Agreement may not be modified or amended, nor may any of its provisions be waived, except pursuant to a written
instrument signed by both of the parties hereto (and in the case of the Company, signed on its behalf by its Chairman or Vice
Chairman).

 

(h)
         Counterparts; Effectiveness. This Agreement may be executed in any number of
counterparts, including, without limitation, by counterpart delivered by facsimile, each of which shall constitute one and the
same instrument. In the event this Agreement is executed by either party by facsimile counterpart, such party shall promptly send
an original to the other party. Notwithstanding anything herein to the contrary, the effectiveness of this Agreement and Executive’s
employment pursuant to the terms and conditions hereof is contingent upon the mutual execution and delivery of this Agreement
by Executive and the Company.

 

IN
WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the date first above written.

 

	 	ONE HORIZON GROUP, INC.	 
	 	 	 
	 	By: /s/ MARK WHITE	 
	 	 	 
	 	Chief Executive Officer	 

 

	 	TERMS AGREED BY

    EXECUTIVE	 
	 	 	 
	 	/s/ Martin
    Ward	 
	 	By: MARTIN WARD	 

 

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Appendix
A

 

Registration
Rights.

 

(a)
For purposes of this Appendix:

 

		1.	“Registrable
                                         Securities” means those shares of OHGI Common Stock and all shares of OHGI
                                         Common Stock or other securities issued upon conversion or exchange or otherwise in respect
                                         thereof, including without limitation pursuant to any stock dividend, stock split, merger,
                                         consolidation or other recapitalization transaction, held by Executive.

 

		2.	“SEC”
                                         means the Securities and Exchange Commission.

 

		3.	“SEC
                                         Rule 144” means Rule 144 promulgated by the SEC under the Securities Act, as
                                         in effect from time-to-time.

 

		4.	“Securities
                                         Act” means the Securities Act of 1933, as amended from time-to-time, and the
                                         rules and regulations promulgated thereunder.

 

(b)
Promptly after the Company receives a request from Executive that the Company register any Registrable securities for sale under
the Securities Act, the Company shall, subject to the provisions hereof, cause to be registered all of the Registrable Securities
that are the subject of such request.

 

(c)
Whenever required under this Appendix to affect the registration of any Registrable Securities, the Company shall, as expeditiously
as reasonably possible:

 

(i)        prepare
and file with the SEC a registration statement with respect to such Registrable Securities and use its best efforts to cause such
registration statement to become effective and keep such registration statement effective for a period of up to one hundred twenty
(120) days or, if earlier, until the distribution contemplated in the registration statement has been completed; provided, however,
that in the case of any registration of Registrable Securities that are intended to be offered on a continuous or delayed basis,
such 120-day period shall be extended for up to an additional sixty (60) days, if necessary, to keep the registration statement
effective until all such Registrable Securities are sold;

 

(ii)         subject
to clause (i), prepare and file with the SEC such amendments and supplements to such registration statement, and the prospectus
used in connection with such registration statement, as may be necessary to keep such registration statement effective for the
period specified in clause (i) and to comply with the Securities Act in order to enable the disposition of all securities covered
by such registration statement;

 

(iii)        furnish
to Executive such numbers of copies of the prospectus, including a preliminary prospectus, included in the registration statement,
and such other documents, as he may reasonably request in order to facilitate the disposition of the Registrable Securities;

 

(iv)        use
its commercially reasonable efforts to register and qualify the securities covered by such registration statement under such other
securities or blue-sky laws of such jurisdictions as shall be reasonably requested by Executive; provided that the Company shall
not be required to qualify to do business or to file a general consent to service of process in any such states or jurisdictions
unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act;

 

(v)         in
the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual
and customary form, with the underwriter(s) of such offering;

 

(vi)        promptly
notify Executive after the Company receives notice thereof, of the time when such registration statement has been declared effective
or a supplement to any prospectus forming a part of such registration statement has been filed;

 

(vii)       after
such registration statement becomes effective, notify Executive of any request by the SEC that the Company amend or supplement
such registration statement or prospectus;

 

     

     

    

 

(viii)      immediately
notify Executive at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening
of any event of which the Company has knowledge as a result of which the prospectus contained in such registration statement,
as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein
or necessary to make the statements therein not misleading in light of the circumstances then existing, and promptly prepare a
supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities,
such prospectus shall not include an untrue statement of a material fact or omit to state any material fact necessary to make
the statements therein not misleading; provided that the Company may postpone for up to ninety (90) days the delivery of any such
supplement or amendment if the Company’s Board of Directors determines in good faith that disclosure of the new information
to be contained therein would reasonably be expected to have a material adverse effect on (i) any proposal or plan by the Company
or any of its affiliates to engage in any acquisition of assets (other than in the ordinary course of business) or any merger,
consolidation, tender offer, reorganization or similar transaction; or (ii) any pending or threatened litigation to which the
Company is, or is threatened to be made, a party; and

 

(ix)       in
the case of an underwritten offering, use its best efforts to furnish on the date on which Registrable Securities are sold to
the underwriter, (i) an opinion, dated such date, of the counsel representing the Company for the purposes of such registration,
in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters
and Executive and (ii) a “comfort” letter dated such date, from the independent certified public accountants of the
Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten
public offering, addressed to the underwriters, if any.

 

(e)
It shall be a condition precedent to the obligations of the Company to take any action pursuant to this Appendix with respect
to the Registrable Securities that Executive furnish such information regarding himself, the Registrable Securities held by him,
and the intended method of disposition of such securities as is reasonably required to affect the registration of the Registrable
Securities.

 

(f)
All expenses (other than underwriting discounts and commissions) incurred in connection with registrations, filings, or qualifications
pursuant to this Appendix including all registration, filing, and qualification fees, printers’ and accounting fees, and
fees and disbursements of counsel for the Company, shall be borne and paid by the Company, whether or not any such registration
or qualification becomes effective.

 

(g)
If any Registrable Securities are included in a registration statement under this Appendix, to the extent permitted by law, the
Company will indemnify and hold harmless the Executive, and each underwriter or other Person within the meaning of the Securities
Act or the Exchange Act, against any damages, and the Company will pay to the Executive, underwriter, controlling Person, or other
aforementioned Person any legal fees and other expenses reasonably incurred thereby in connection with investigating or defending
any claim or proceeding from which damages may result, as such expenses are incurred; provided, however, that this indemnity agreement
shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent
of the Company, which consent shall not be unreasonably withheld, nor shall the Company be liable for any damages to the extent
that they arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information
furnished by or on behalf of the Executive, underwriter, controlling Person, or other aforementioned Person expressly for use
in connection with such registration.

 

To
the extent permitted by law, Executive will indemnify and hold harmless the Company, and each of its directors, each of its officers
who has signed the registration statement, each Person (if any), who controls the Company within the meaning of the Securities
Act, legal counsel for the Company, any underwriter (as defined in the Securities Act), any other party selling securities in
such registration statement, and any controlling Person of any such underwriter, against any damages, in each case only to the
extent that such damages arise out of or are based upon actions or omissions made in reliance upon and in conformity with written
information furnished by or on behalf of the Executive expressly for use in connection with such registration; and Executive will
pay to the Company and each other aforementioned Person any legal fees and other expenses reasonably incurred thereby in connection
with investigating or defending any claim or proceeding from which damages may result, as such expenses are incurred; provided,
however, that this indemnity agreement shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement
is effected without the consent of the Executive, which consent shall not be unreasonably withheld; and provided further that
in no event shall the aggregate amounts payable by Executive by way of indemnity or contribution here exceed the proceeds from
the offering received by the Executive net of any selling expenses paid by the Participating Holder.

 

     

     

    

 

Promptly
after receipt by an indemnified party of notice of the commencement of any action (including any governmental action) for which
a party may be entitled to indemnification hereunder, such indemnified party will, if a claim in respect thereof is to be made
against any indemnifying party, give the indemnifying party notice of the commencement thereof. The indemnifying party shall have
the right to participate in such action and, to the extent the indemnifying party so desires, participate jointly with any other
indemnifying party to which notice has been given, and to assume the defense thereof with counsel reasonably mutually satisfactory
to the parties; provided, however, that an indemnified party (together with all other indemnified parties that may be represented
without conflict by one counsel) shall have the right to retain one (1) separate counsel, with the reasonable fees and expenses
to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying
party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party
represented by such counsel in such action. The failure to give notice to the indemnifying party within a reasonable time of the
commencement of any such action will not relieve such indemnifying party of any liability to the indemnified party hereunder,
except to the extent, and only to the extent, that such failure actually and materially prejudices the indemnifying party’s
ability to defend such action. The failure to give notice to the indemnifying party will not relieve it of any liability that
it may have to any indemnified party otherwise than hereunder.

 

To
provide for just and equitable contribution to joint liability under the Securities Act in any case in which either (i) any party
otherwise entitled to indemnification hereunder makes a claim for indemnification but it is judicially determined (by the entry
of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last
right of appeal) that such indemnification may not be enforced in such case, notwithstanding the indemnification in such case
provided for hereunder or (ii) contribution under the Securities Act may be required on the part of any party hereto for which
indemnification is provided hereunder, then, and in each such case, such parties will contribute to the aggregate losses, claims,
damages, liabilities, or expenses to which they may be subject (after contribution from others) in such proportion as is appropriate
to reflect the relative fault of each of the indemnifying party and the indemnified party in connection with the statements, omissions,
or other actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant equitable
considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to,
among other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged omission of
a material fact, relates to information supplied by the indemnifying party or by the indemnified party and the parties’
relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission; provided,
however, that, in any such case, no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) will be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation; and
provided further that in no event shall the aggregate amounts payable by Executive by way of indemnity or contribution exceed
the proceeds from the offering received by the Executive (net of any selling expenses) paid by Executive.

 

Notwithstanding
the foregoing, to the extent that any provision on indemnification and contribution contained in the underwriting agreement entered
into in connection with the underwritten public offering is in conflict with any of the foregoing provisions, the provision in
the underwriting agreement shall control.

 

The
obligations of the Company under this Appendix shall survive the completion of any offering of Registrable Securities in a registration
under this Appendix, and otherwise shall survive the termination of the Employment Agreement.Exhibit
10.30

 

ONE
HORIZON GROUP, INC.

2018 EQUITY INCENTIVE PLAN

 

1.
Purposes of the Plan.

 

The
purposes of this Equity Incentive Plan are to attract and retain the best available personnel, to provide additional incentive
to Employees, Directors and Consultants and to promote the success of the Company’s business.

 

2.
Definitions.

 

As used herein, the following definitions shall apply:

 

(a)
“Administrator” means the Board or any Committee appointed to administer the Plan.

 

(b)
“Affiliate” and “Associate” shall have the respective meanings ascribed to such terms in Rule 12b-2 promulgated
under the Exchange Act.

 

(c)
“Applicable Laws” means the legal requirements relating to the administration of stock incentive plans, if any, under
applicable provisions of federal securities laws, state corporate and securities laws, the Code, the rules of any applicable stock
exchange or national market system, and the rules of any foreign jurisdiction applicable to Awards granted to residents therein.

 

(d)
“Award” means the grant of an Option, SAR, Dividend Equivalent Right, Restricted Stock, Performance Unit, Performance
Share, or other right or benefit under the Plan.

 

(e)
“Award Agreement” means the written agreement evidencing the grant of an Award executed by the Company and the Grantee,
including any amendments thereto.

 

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

 

(g)
“Cause” means, with respect to the termination by the Company or a Related Entity of the Grantee’s Continuous Service,
that such termination is for “Cause” as such term is expressly defined in a then-effective written agreement between
the Grantee and the Company or such Related Entity, or in the absence of such then-effective written agreement and definition,
is based on, in the determination of the Administrator, the Grantee’s:

 

(i)
refusal or failure to act in accordance with any specific, lawful direction or order of the Company or a Related Entity;

 

(ii)
unfitness or unavailability for service or unsatisfactory performance (other than as a result of Disability);

 

(iii)
performance of any act or failure to perform any act, in bad faith and to the detriment of the Company or a Related Entity;

 

(iv)
dishonesty, intentional misconduct or material breach of any agreement with the Company or a Related Entity; or

 

(v)
commission of a crime involving dishonesty, breach of trust, or physical or emotional harm to any person.

 

(h)
“Code” means the Internal Revenue Code of 1986, as amended.

 

(i)
“Committee” means any committee appointed by the Board to administer the Plan.

 

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

 

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(k)
“Company” means One Horizon Group, Inc., a Delaware corporation.

 

(l)
“Consultant” means any person (other than an Employee or a Director, solely with respect to rendering services in such
person’s capacity as a Director) who is engaged by the Company or any Related Entity to render consulting or advisory services
to the Company or such Related Entity.

 

(m)
“Continuous Service” means that the provision of services to the Company or a Related Entity in any capacity of Employee,
Director or Consultant, is not interrupted or terminated. Continuous Service shall not be considered interrupted in the case of
(i) any leave of absence approved by the Company or Related Entity, (ii) transfers between locations of the Company or among the
Company, any Related Entity, or any successor, in any capacity of Employee, Director or Consultant, or (iii) any change in status
as long as the individual remains in the service of the Company or a Related Entity in any capacity of Employee, Director or Consultant
(except as otherwise provided in the Award Agreement). For purposes of Incentive Stock Options, no such approved leave of absence
may exceed ninety (90) days, unless re-employment upon expiration of such leave is guaranteed by statute or contract.

 

(n)
“Corporate Transaction” means any of the following transactions:

 

(i)
a merger or consolidation in which the Company is not the surviving entity, except for a transaction the principal purpose of
which is to change the state in which the Company is incorporated;

 

(ii)
the sale, transfer or other disposition of all or substantially all of the assets of the Company (including the capital stock
of the Company’s subsidiary corporations) in connection with the complete liquidation or dissolution of the Company;

 

(iii)
any reverse merger in which the Company is the surviving entity but in which securities possessing more than eighty percent (80%)
of the total combined voting power of the Company’s outstanding securities are transferred to a person or persons different from
those who held such securities immediately prior to such merger; or

 

(iv)
an acquisition by any person or related group of persons (other than the Company or by a Company-sponsored employee benefit plan)
of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities possessing more than eighty percent
(80%) of the total combined voting power of the Company’s outstanding securities, but excluding any such transaction that the
Administrator determines shall not be a Corporate Transaction.

 

(o)
“Director” means a member of the Board or the board of directors of any Related Entity.

 

(p)
“Disability” means that a Grantee is permanently unable to carry out the responsibilities and functions of the position
held by the Grantee by reason of any medically determinable physical or mental impairment. A Grantee will not be considered to
have incurred a Disability unless he or she furnishes proof of such impairment sufficient to satisfy the Administrator in its
discretion.

 

(q)
“Dividend Equivalent Right” means a right entitling the Grantee to compensation measured by dividends paid with respect
to Common Stock.

 

(r)
“Employee” means any person, including an Officer or Director, who is an employee of the Company or any Related Entity.
The payment of a director’s fee by the Company or a Related Entity shall not be sufficient to constitute “employment”
by the Company.

 

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

 

(t)
“Fair Market Value” means, as of any date, the value of Common Stock determined as follows: (i) Where there exists a
public market for the Common Stock, the Fair Market Value shall be (A) the closing price for a Share for the last market trading
day prior to the time of the determination (or, if no closing price was reported on that date, on the last trading date on which
a closing price was reported) on the stock exchange or national market system determined by the Administrator to be the primary
market for the Common Stock, or (B) if the Common Stock is not traded on any such exchange or national market system, the average
of the closing bid and asked prices of a share on the OTC Bulletin Board or other inter-dealer quotation service for the day prior
to the time of the determination (or, if no such prices were reported on that date, on the last date on which such prices were
reported), in each case, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; or (ii)
in the absence of an established market for the Common Stock of the type described in subparagraph (i), above, the Fair Market
Value shall be determined by the Administrator in good faith.

 

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(u)
“Grantee” means an Employee, Director or Consultant who receives an Award pursuant to an Award Agreement under the Plan.

 

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

 

(w)
“Non-Qualified Stock Option” means an Option not intended to qualify as an Incentive Stock Option.

 

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

 

(y)
“Option” means an option to purchase Shares pursuant to an Award Agreement granted under the Plan.

 

(z)
“Parent” means a “parent corporation”, whether now or hereafter existing, as defined in Section 424(e) of
the Code.

 

(aa)
“Performance Shares” means Shares or an Award denominated in Shares which may be earned in whole or in part upon attainment
of performance criteria established by the Administrator.

 

(bb)
“Performance Units” means an Award which may be earned in whole or in part upon attainment of performance criteria established
by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities
as established by the Administrator.

 

(cc)
“Plan” means this 2018 Equity Incentive Plan.

 

(dd)
“Related Entity” means any Parent, Subsidiary and any business, corporation, partnership, limited liability company
or other entity in which the Company, a Parent or a Subsidiary holds a substantial ownership interest, directly or indirectly.

 

(ee)
“Restricted Stock” means Shares issued under the Plan to the Grantee for such consideration, if any, and subject to
such restrictions on transfer, rights of first refusal, repurchase provisions, forfeiture provisions, and other terms and conditions
as established by the Administrator.

 

(ff)
“Rule 16b-3” means Rule 16b-3 promulgated under the Exchange Act or any successor thereto.

 

(gg)
“SAR” means a stock appreciation right entitling the Grantee to Shares or cash compensation, as established by the Administrator,
measured by appreciation in the value of Common Stock.

 

(hh)
“Share” means a share of the Common Stock.

 

(ii)
“Subsidiary” means a “subsidiary corporation”, whether now or hereafter existing, as defined in Section 424(f)
of the Code.

 

(jj)
“Related Entity Disposition” means the sale, distribution or other disposition by the Company of all or substantially
all of the Company’s interests in any Related Entity effected by a sale, merger or consolidation or other transaction involving
that Related Entity or the sale of all or substantially all of the assets of that Related Entity.

 

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3.
Stock Subject to the Plan.

 

(a)
Subject to the provisions of Section 10, below, the maximum aggregate number of Shares which may be issued pursuant to all Awards
(including Incentive Stock Options) is 5,000,000 Shares. The Shares to be issued pursuant to Awards may be authorized, but unissued,
or reacquired Common Stock.

 

(b)
Any Shares covered by an Award (or portion of an Award) which is forfeited or canceled, expires or is settled in cash, shall be
deemed not to have been issued for purposes of determining the maximum aggregate number of Shares which may be issued under the
Plan. If any unissued Shares are retained by the Company upon exercise of an Award in order to satisfy the exercise price for
such Award or any withholding taxes due with respect to such Award, such retained Shares subject to such Award shall become available
for future issuance under the Plan (unless the Plan has terminated). Shares that actually have been issued under the Plan pursuant
to an Award shall not be returned to the Plan and shall not become available for future issuance under the Plan, except that if
unvested Shares are forfeited, or repurchased by the Company at their original purchase price, such Shares shall become available
for future grant under the Plan.

 

4.
Administration of the Plan.

 

(a)
Plan Administrator.

 

(i)
Administration with Respect to Directors and Officers. With respect to grants of Awards to Directors or Employees who are also
Officers or Directors of the Company, the Plan shall be administered by (A) the Board or (B) a Committee designated by the Board,
which Committee shall be constituted in such a manner as to satisfy the Applicable Laws and to permit such grants and related
transactions under the Plan to be exempt from Section 16(b) of the Exchange Act in accordance with Rule 16b-3. Once appointed,
such Committee shall continue to serve in its designated capacity until otherwise directed by the Board.

 

(ii)
Administration with Respect to Consultants and Other Employees. With respect to grants of Awards to Employees or Consultants who
are neither Directors nor Officers of the Company, the Plan shall be administered by (A) the Board or (B) a Committee designated
by the Board, which Committee shall be constituted in such a manner as to satisfy the Applicable Laws. Once appointed, such Committee
shall continue to serve in its designated capacity until otherwise directed by the Board. The Board may authorize one or more
Officers to grant such Awards and may limit such authority as the Board determines from time to time. Except for the power to
amend the Plan as provided in Section 13 and except for determinations regarding Employees who are subject to Section 16 of the
Exchange Act or certain key Employees who are, or may become, as determined by the Board or the Committee, subject to Section
162(m) of the Code compensation deductibility limit, and except as may otherwise be required under applicable stock exchange rules,
the Board or the Committee may delegate any or all of its duties, powers and authority under the Plan pursuant to such conditions
or limitations as the Board or the Committee may establish to any Officer or Officers of the Company

 

(iii)
Administration Errors. In the event an Award is granted in a manner inconsistent with the provisions of this subsection, such
Award shall be presumptively valid as of its grant date to the extent permitted by Applicable Laws.

 

(b)
Powers of the Administrator. Subject to Applicable Laws and the provisions of the Plan (including any other powers given to the
Administrator hereunder), and except as otherwise provided by the Board, the Administrator shall have the authority, in its discretion:

 

(i)
to select the Employees, Directors and Consultants to whom Awards may be granted from time to time hereunder;

 

(ii)
to determine whether and to what extent Awards are granted hereunder;

 

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

 

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

 

(v)
to determine the terms and conditions of any Award granted hereunder;

 

(vi)
to amend the terms of any outstanding Award granted under the Plan, provided that any amendment that would adversely affect the
Grantee’s rights under an outstanding Award shall not be made without the Grantee’s written consent;

 

(vii)
to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan, including without limitation, any notice
of Award or Award Agreement, granted pursuant to the Plan;

 

(viii)
to establish additional terms, conditions, rules or procedures to accommodate the rules or laws of applicable foreign jurisdictions
and to afford Grantees favorable treatment under such laws; provided, however, that no Award shall be granted under any such additional
terms, conditions, rules or procedures with terms or conditions which are inconsistent with the provisions of the Plan; and

 

(ix)
to take such other action, not inconsistent with the terms of the Plan, as the Administrator deems appropriate.

 

(c)
Effect of Administrator’s Decision. All decisions, determinations and interpretations of the Administrator shall be conclusive
and binding on all persons.

 

5.
Eligibility, Awards other than Incentive Stock Options may be granted to Employees, Directors and Consultants. Incentive Stock
Options may be granted only to Employees of the Company, a Parent or a Subsidiary. An Employee, Director or Consultant who has
been granted an Award may, if otherwise eligible, be granted additional Awards. Awards may be granted to Employees, Directors
or Consultants who are residing in foreign jurisdictions.

 

6.
Terms and Conditions of Awards.

 

(a)
Type of Awards. The Administrator is authorized under the Plan to award any type of arrangement to an Employee, Director or Consultant
that is not inconsistent with the provisions of the Plan and that by its terms involves or might involve the issuance of (i) Shares,
(ii) an Option, a SAR or similar right with a fixed or variable price related to the Fair Market Value of the Shares and with
an exercise or conversion privilege related to the passage of time, the occurrence of one or more events, or the satisfaction
of performance criteria or other conditions, or (iii) any other security with the value derived from the value of the Shares.
Such awards include, without limitation, Options, SARs, sales or bonuses of Restricted Stock, Dividend Equivalent Rights, Performance
Units or Performance Shares, and an Award may consist of one such security or benefit, or two (2) or more of them in any combination
or alternative.

 

(b)
Designation of Award. Each Award shall be designated in the Award Agreement. In the case of an Option, the Option shall be designated
as either an Incentive Stock Option or a Non-Qualified Stock Option. However, notwithstanding such designation, to the extent
that the aggregate Fair Market Value of Shares subject to Options designated as Incentive Stock Options which become exercisable
for the first time by a Grantee during any calendar year (under all plans of the Company or any Parent or Subsidiary) exceeds
$100,000, such excess Options, to the extent of the Shares covered thereby in excess of the foregoing limitation, shall be treated
as Non-Qualified Stock Options. For this purpose, Incentive Stock Options shall be taken into account in the order in which they
were granted, and the Fair Market Value of the Shares shall be determined as of the date the Option with respect to such Shares
is granted.

 

(c)
Conditions of Award. Subject to the terms of the Plan, the Administrator shall determine the provisions, terms, and conditions
of each Award including, but not limited to, the Award vesting schedule, repurchase provisions, rights of first refusal, forfeiture
provisions, form of payment (cash, Shares, or other consideration, including cashless exercise) upon settlement of the Award,
payment contingencies, and satisfaction of any performance criteria. The performance criteria established by the Administrator
may be based on any one of, or combination of, increase in share price, earnings per share, total stockholder return, return on
equity, return on assets, return on investment, net operating income, cash flow, revenue, economic value added, personal management
objectives, or other measure of performance selected by the Administrator. Partial achievement of the specified criteria may result
in a partial payment or vesting as specified in the Award Agreement.

 

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(d)
Acquisitions and Other Transactions. The Administrator may issue Awards under the Plan in settlement, assumption or substitution
for, outstanding awards or obligations to grant future awards in connection with the Company or a Related Entity acquiring another
entity, an interest in another entity or an additional interest in a Related Entity whether by merger, stock purchase, asset purchase
or other form of transaction.

 

(e)
Deferral of Award Payment. The Administrator may establish one or more programs under the Plan to permit selected Grantees the
opportunity to elect to defer receipt of consideration upon exercise of an Award, satisfaction of performance criteria, or other
event that absent the election would entitle the Grantee to payment or receipt of Shares or other consideration under an Award.
The Administrator may establish the election procedures, the timing of such elections, the mechanisms for payments of, and accrual
of interest or other earnings, if any, on amounts, Shares or other consideration so deferred, and such other terms, conditions,
rules and procedures that the Administrator deems advisable for the administration of any such deferral program.

 

(f)
Award Exchange Programs. The Administrator may establish one or more programs under the Plan to permit selected Grantees to exchange
an Award under the Plan for one or more other types of Awards under the Plan on such terms and conditions as determined by the
Administrator from time to time.

 

(g)
Separate Programs. The Administrator may establish one or more separate programs under the Plan for the purpose of issuing particular
forms of Awards to one or more classes of Grantees on such terms and conditions as determined by the Administrator from time to
time.

 

(h)
Early Exercise. The Award Agreement may, but need not, include a provision whereby the Grantee may elect at any time while an
Employee, Director or Consultant to exercise any part or all of the Award prior to full vesting of the Award. Any unvested Shares
received pursuant to such exercise may be subject to a repurchase right in favor of the Company or a Related Entity or to any
other restriction the Administrator determines to be appropriate.

 

(i)
Term of Award. The term of each Award shall be the term stated in the Award Agreement, provided, however, that the term of an
Incentive Stock Option shall be no more than ten (10) years from the date of grant thereof. However, in the case of an Incentive
Stock Option granted to a Grantee who, at the time the 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 term of the Incentive Stock Option
shall be five (5) years from the date of grant thereof or such shorter term as may be provided in the Award Agreement.

 

(j)
Transferability of Awards. Except as otherwise provided in this Section, all Awards under the Plan shall be nontransferable and
shall not be assignable, alienable, saleable or otherwise transferable by the Grantee other than by will or the laws of descent
and distribution except pursuant to a domestic relations order entered by a court of competent jurisdiction. Notwithstanding the
preceding sentence, the Board or the Committee may provide that any Award of Non-Qualified Stock Options may be transferable by
the recipient to family members or family trusts established by the Grantee. The Board or the Committee may also provide that,
in the event that a Grantee terminates employment with the Company to assume a position with a governmental, charitable, educational
or similar non-profit institution, a third party, including but not limited to a “blind” trust, may be authorized by
the Board or the Committee to act on behalf of and for the benefit of the respective Grantee with respect to any outstanding Awards.
Except as otherwise provided in this Section, during the life of the Grantee, Awards under the Plan shall be exercisable only
by him or her except as otherwise determined by the Board or the Committee. In addition, if so permitted by the Board or the Committee,
a Grantee may designate a beneficiary or beneficiaries to exercise the rights of the Grantee and receive any distributions under
the Plan upon the death of the Grantee.

 

(k)
Time of Granting Awards. The date of grant of an Award shall for all purposes be the date on which the Administrator makes the
determination to grant such Award, or such other date as is determined by the Administrator. Notice of the grant determination
shall be given to each Employee, Director or Consultant to whom an Award is so granted within a reasonable time after the date
of such grant.

 

    6

     

    

 

7.
Award Exercise or Purchase Price, Consideration, Taxes and Reload Options.

 

(a)
Exercise or Purchase Price. The exercise or purchase price, if any, for an Award shall be as follows:

 

(i)
In the case of an Incentive Stock Option: (A) granted to an Employee who, at the time of the grant of such Incentive Stock Option
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 shall be not less than one hundred ten percent (110%) of the Fair Market Value per Share
on the date of grant; or (B) granted to any Employee other than an Employee described in the preceding clause, the per Share exercise
price shall be not less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant.

 

(ii)
In the case of a Non-Qualified Stock Option, the per Share exercise price shall be not less than one hundred percent (100%) of
the Fair Market Value per Share on the date of grant unless otherwise determined by the Administrator.

 

(iii)
In the case of other Awards, such price as is determined by the Administrator.

 

(iv)
Notwithstanding the foregoing provisions of this Section 7(a),in the case of an Award issued pursuant to Section 6(d), above,
the exercise or purchase price for the Award shall be determined in accordance with the principles of Section 424(a) of the Code.

 

(b)
Consideration. Subject to Applicable Laws, the consideration to be paid for the Shares to be issued upon exercise or purchase
of an Award including the method of payment, shall be determined by the Administrator (and, in the case of an Incentive Stock
Option, shall be determined at the time of grant). In addition to any other types of consideration the Administrator may determine,
the Administrator is authorized to accept as consideration for Shares issued under the Plan the following, provided that the portion
of the consideration equal to the par value of the Shares must be paid in cash or other legal consideration permitted by the applicable
laws of the jurisdiction in which the Company is then incorporated.

 

(i)
cash;

 

(ii)
check;

 

(iii)
delivery of Grantee’s promissory note with such recourse, interest, security, and redemption provisions as the Administrator determines
is appropriate;

 

(iv)
surrender of Shares or delivery of a properly executed form of attestation of ownership of Shares as the Administrator may require
including withholding of Shares otherwise deliverable upon exercise of the Award) which have a Fair Market Value on the date of
surrender or attestation equal to the aggregate exercise price of the Shares as to which said Award shall be exercised (but only
to the extent that such exercise of the Award would not result in an accounting compensation charge with respect to the Shares
used to pay the exercise price unless otherwise determined by the Administrator);

 

(v)
with respect to options, payment through a broker-dealer sale and remittance procedure pursuant to which the Grantee (A) shall
provide written instructions to a Company designated brokerage firm to effect the immediate sale of some or all of the purchased
Shares and remit to the Company, out of the sale proceeds available on the settlement date, sufficient funds to cover the aggregate
exercise price payable for the purchased Shares and (B) shall provide written directives to the Company to deliver the certificates
for the purchased Shares directly to such brokerage firm in order to complete the sale transaction; or

 

(vi)
with respect to options provided there is then an established market for the Common Stock, by a “cashless exercise”
as a result of which the Grantee shall be entitled to receive that number of shares of Common Stock equal to the quotient of (i)
the number of Options surrendered for exercise and (ii) the difference between the Fair Market Value (determined in accordance
with clause (i) of Section 2(t) hereof) and the exercise price of the Option, in which case the number of Options surrendered
for exercise shall be cancelled;

 

    7

     

    

 

(vii)
any combination of the foregoing methods of payment.

 

(c)
Taxes. No Shares shall be delivered under the Plan to any Grantee or other person until such Grantee or other person has made
arrangements acceptable to the Administrator for the satisfaction of any foreign, federal, state, or local income and employment
tax withholding obligations, including, without limitation, obligations incident to the receipt of Shares or the disqualifying
disposition of Shares received on exercise of an Incentive Stock Option. Upon exercise of an Award, the Company shall withhold
or collect from Grantee an amount sufficient to satisfy such tax obligations.

 

(d)
Reload Options. In the event the exercise price or tax withholding of an Option is satisfied by the Company or the Grantee’s employer
withholding Shares otherwise deliverable to the Grantee, the Administrator may issue the Grantee an additional Option, with terms
identical to the Award Agreement under which the Option was exercised, but at an exercise price as determined by the Administrator
in accordance with the Plan.

 

8.
Exercise of Award.

 

(a)
Procedure for Exercise; Rights as a Stockholder.

 

(i)
Any Award granted hereunder shall be exercisable at such times and under such conditions as determined by the Administrator under
the terms of the Plan and specified in the Award Agreement.

 

(ii)
An Award shall be deemed to be exercised upon the later of (x) receipt by the Company of written notice of such exercise in accordance
with the terms of the Award by the person entitled to exercise the Award and (y) full payment for the Shares with respect to which
the Award is exercised, including, to the extent selected, use of the broker-dealer sale and remittance procedure to pay the purchase
price as provided in Section 7(b)(v).

 

(iii)
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 stock certificate evidencing such Shares, no right to vote or receive dividends or any other rights as a stockholder
shall exist with respect to Shares subject to an Award, notwithstanding the exercise of an Option or other Award. The Company
shall issue (or cause to be issued) such stock certificate promptly upon exercise of the Award. No adjustment will be made for
a dividend or other right for which the record date is prior to the date the stock certificate is issued, except as provided in
the Award Agreement or Section 10, below.

 

(b)
Exercise of Award Following Termination of Continuous Service.

 

(i)
An Award may not be exercised after the termination date of such Award set forth in the Award Agreement and may be exercised following
the termination of a Grantee’s Continuous Service only to the extent provided in the Award Agreement.

 

(ii)
Where the Award Agreement permits a Grantee to exercise an Award following the termination of the Grantee’s Continuous Service
for a specified period, the Award shall terminate to the extent not exercised on the last day of the specified period or the last
day of the original term of the Award, whichever occurs first.

 

(iii)
Any Award designated as an Incentive Stock Option to the extent not exercised within the time permitted by law for the exercise
of Incentive Stock Options following the termination of a Grantee’s Continuous Service shall convert automatically to a Non-Qualified
Stock Option and thereafter shall be exercisable as such to the extent exercisable by its terms for the period specified in the
Award Agreement.

 

(c)
Buyout Provisions. The Administrator may at any time offer to buy out for a payment in cash or Shares, an Award previously granted,
based on such terms and conditions as the Administrator shall establish and communicate to the Grantee at the time that such offer
is made.

 

    8

     

    

 

9.
Conditions Upon Issuance of Shares.

 

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

 

(b)
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 by any Applicable
Laws.

 

10.
Adjustments Upon Changes in Capitalization. Subject to any required action by the stockholders of the Company, the Administrator
may, in its discretion, proportionately adjust the number of Shares covered by each outstanding Award, and the number of Shares
which have been authorized for issuance under the Plan but as to which no Awards have yet been granted or which have been returned
to the Plan, the exercise or purchase price of each such outstanding Award, as well as any other terms that the Administrator
determines require adjustment for (a) any increase or decrease in the number of issued Shares resulting from a stock split, reverse
stock split, stock dividend, combination or reclassification of the Shares, (b) any other increase or decrease in the number of
issued Shares effected without receipt of consideration by the Company, or (c) as the Administrator may determine in its discretion,
any other transaction with respect to Common Stock to which Section 424(a) of the Code applies; provided, however that conversion
of any convertible securities of the Company shall not be deemed to have been “effected without receipt of consideration.”
Such adjustment shall be made by the Administrator and its determination shall be final, binding and conclusive. Except as the
Administrator determines, no issuance by the Company of shares of stock of any class, or securities convertible into shares of
stock of any class, shall affect, and no adjustment by reason hereof shall be made with respect to, the number or price of Shares
subject to an Award.

 

11.
Corporate Transactions and Related Entity Dispositions. Except as may be provided in an Award Agreement:

 

(a)
The Administrator shall have the authority, exercisable either in advance of any actual or anticipated Corporate Transaction or
Related Entity Disposition or at the time of an actual Corporate Transaction or Related Entity Disposition and exercisable at
the time of the grant of an Award under the Plan or any time while an Award remains outstanding, to provide for the full automatic
vesting and exercisability of one or more outstanding unvested Awards under the Plan and the release from restrictions on transfer
and repurchase or forfeiture rights of such  Awards in connection with a Corporate Transaction or Related Entity Disposition,
on such terms and conditions as the Administrator may specify. The Administrator also shall have the authority to condition any
such Award vesting and exercisability or release from such limitations upon the subsequent termination of the Continuous Service
of the Grantee within a specified period following the effective date of the Corporate Transaction or Related Entity Disposition.
Effective upon the consummation of a Corporate Transaction or Related Entity Disposition, all outstanding Awards under the Plan,
shall remain fully exercisable until the expiration or sooner termination of the Award.

 

(b)
The portion of any Incentive Stock Option accelerated under this Section 11 in connection with a Corporate Transaction or Related
Entity Disposition shall remain exercisable as an Incentive Stock Option under the Code only to the extent the $ 100,000 dollar
limitation of Section 422(d) of the Code is not exceeded. To the extent such dollar limitation is exceeded, the accelerated excess
portion of such Option shall be exercisable as a Non-Qualified Stock Option.

 

12.
Effective Date and Term of Plan. The Plan shall become effective upon the earlier to occur of its adoption by the Board or its
approval by the stockholders of the Company. It shall continue in effect for a term of ten (10) years unless sooner terminated.
Subject to Section 13 below, and Applicable Laws, Awards may be granted under the Plan upon its becoming effective.

 

    9

     

    

 

13.
Amendment, Suspension or Termination of the Plan.

 

(a)
The Board may at any time amend, suspend or terminate the Plan. To the extent necessary to comply with Applicable Laws, the Company
shall obtain stockholder approval of any Plan amendment in such a manner and to such a degree as required.

 

(b)
No Award may be granted during any suspension of the Plan or after termination of the Plan.

 

(c)
Any amendment, suspension or termination of the Plan (including termination of the Plan under Section 12, above) shall not affect
Awards already granted, and such Awards shall remain in full force and effect as if the Plan had not been amended, suspended or
terminated, unless mutually agreed otherwise between the Grantee and the Administrator, which agreement must be in writing and
signed by the Grantee and the Company.

 

14.
Reservation of Shares.

 

(a)
The Company, during the term of the Plan, will at all times reserve and keep available such number of Shares as shall be sufficient
to satisfy the requirements of the Plan.

 

(b)
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, shall relieve the Company of any liability
in respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained.

 

15.
No Effect on Terms of Employment/Consulting Relationship. The Plan shall not confer upon any Grantee any right with respect to
the Grantee’s Continuous Service, nor shall it interfere in any way with his or her right or the Company’s right to terminate
the Grantee’s Continuous Service at any time, with or without cause.

 

16.
Unfunded Plan. Unless otherwise determined by the Board or the Committee, the Plan shall be unfunded and shall not create (or
construed to create) a trust or a separate fund or funds. The Plan shall not establish any fiduciary relationship between the
Company and any Grantee or other person. To the extent any person holds any rights by virtue of an Award granted under the Plan,
such right (unless otherwise determined by the Board or the Committee) shall be no greater than the right of an unsecured general
creditor of the Company.

 

17.
No Effect on Retirement and Other Benefit Plans. Except as specifically provided in a retirement or other benefit plan of the
Company or a Related Entity, Awards shall not be deemed compensation for purposes of computing benefits or contributions under
any retirement plan of the Company or a Related Entity, and shall not affect any benefits under any other benefit plan of any
kind or any benefit plan subsequently instituted under which the availability or amount of benefits is related to level of compensation.
The Plan is not a “Retirement Plan” or “Welfare Plan” under the Employee Retirement Income Security Act of
1974, as amended.

 

18.
Stockholder Approval. The grant of Incentive Stock Options under the Plan shall be subject to approval by the stockholders of
the Company within twelve (12) months before or after the date the Plan is adopted by the Board excluding Incentive Stock Options
issued in substitution for outstanding Incentive Stock Options pursuant to Section 424(a) of the Code. Such stockholder approval
shall be obtained in the degree and manner required under Applicable Laws. The Administrator may grant Incentive Stock Options
under the Plan prior to approval by the stockholders, but until such approval is obtained, no such Incentive Stock Option shall
be exercisable. In the event that stockholder approval is not obtained within the twelve (12) month period provided above, all
Incentive Stock Options previously granted under the Plan shall be exercisable as Non-Qualified Stock Options.

 

    10

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