Document:

Exhibit 10.1

 

CELLDEX THERAPEUTICS, INC.

 

2021 OMNIBUS EQUITY INCENTIVE
PLAN

 

	1.	Establishment and Purpose

 

1.1            The
purpose of the Celldex Therapeutics, Inc. 2021 Omnibus Equity Incentive Plan (the “Plan”) is to provide a means whereby
eligible employees, officers, non-employee directors and other individual service providers develop a sense of proprietorship and personal
involvement in the development and financial success of the Company (as defined herein) and to encourage them to devote their best efforts
to the business of the Company, thereby advancing the interests of the Company and its stockholders. The Company, by means of the Plan,
seeks to retain the services of such eligible persons and to provide incentives for such persons to exert maximum efforts for the success
of the Company and its Subsidiaries.

 

1.2            The
Plan permits the grant of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted
Stock Units, Performance Shares, Performance Units, Incentive Bonus Awards, Other Cash-Based Awards and Other Stock-Based Awards.
This Plan shall become effective upon the date set forth in Section 17.1 hereof.

 

	2.	Definitions

 

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

 

2.1            “Affiliate”
means, with respect to a Person, a Person that directly or indirectly Controls, or is Controlled by, or is under common Control with,
such Person.

 

2.2            “Applicable
Law” means the requirements relating to the administration of equity-based awards or equity compensation plans under U.S. state
corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is
listed or quoted and the applicable laws of any foreign country or jurisdiction that applies to Awards.

 

2.3            “Award”
means an award of a Stock Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Performance Share, Performance Unit, Incentive
Bonus Award, Other Cash-Based Award and/or Other Stock-Based Award granted under the Plan.

 

2.4            “Award
Agreement” means either (i) a written or electronic agreement entered into between the Company and a Participant
setting forth the terms and conditions of an Award including any amendment or modification thereof, or (ii) a written or
electronic statement issued by the Company to a Participant describing the terms and provisions of such Award, including any
amendment or modification thereof. The Committee may provide for the use of electronic, internet or other non-paper Award
Agreements, and the use of electronic, internet or other non-paper means for the acceptance thereof and actions thereunder by a
Participant. Each Award Agreement shall be subject to the terms and conditions of the Plan and need not be identical.

 

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

 

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2.6            “Cause”
means a Participant’s (i) conviction of, or the entry of a plea of guilty or no contest to, a felony or any other crime
that causes the Company or its Affiliates disgrace or disrepute, or materially and adversely affects the Company’s or its
Affiliates’ operations or financial performance, (ii) gross negligence or willful misconduct with respect to the Company
or any of its Affiliates, including, without limitation fraud, embezzlement, theft or proven dishonesty in the course of
Awardee’s employment or other service; (iii)            use of
controlled drugs other than in accordance with a physician’s prescription; (iv) refusal to perform any lawful, material
obligation or fulfill any duty (other than any duty or obligation of the type described in clause (vi) below) to the Company or
its Affiliates (other than due to a disability), which refusal, if curable, is not cured within fifteen (15) days after delivery of
written notice thereof; (v) material breach of any agreement with or duty owed to the Company or any of its Affiliates, which
breach, if curable, is not cured within fifteen (15) days after the delivery of written notice thereof; (vi) any breach of any
obligation or duty to the Company or any of its Affiliates (whether arising by statute, common law or agreement) relating to
confidentiality, noncompetition, nonsolicitation or proprietary rights; or (vii) any material breach of any policy of the
Company or its Affiliates or any action that the Board, in its sole discretion, determines is reasonably likely to cause the Company
or its Affiliates disgrace or disrepute. Notwithstanding the foregoing, if a Participant and the Company (or any of its Affiliates)
have entered into an employment agreement, consulting agreement or other similar agreement that specifically defines
 “cause,” then with respect to such Participant, “Cause” shall have the meaning defined in that employment
agreement, consulting agreement or other agreement.

 

2.7            “Change
in Control” shall be deemed to have occurred if any one of the following events shall occur:

 

(i)            Any
Person becomes the beneficial owner (as defined in Rule 13(d)-3 under the Exchange Act) of shares of Common Stock representing more
than 50% of the total number of votes that may be cast for the election of directors of the Company; or

 

(ii)           The
consummation of any (a) merger or other business combination of the Company, (b) sale of all or substantially all of the
Company’s assets or (c) combination of the foregoing transactions (a “Transaction”), other than a
Transaction involving only the Company and one or more of its subsidiaries, or a Transaction immediately following which the
shareholders of the Company immediately prior to the Transaction continue to have a majority of the voting power in the resulting
entity or a parent entity; or

 

(iii)          Within
any twelve (12)-month period beginning on or after the Effective Date, the persons who were directors of the Company immediately
before the beginning of such period (the “Incumbent Directors”) shall cease (for any reason other than death) to
constitute at least a majority of the Board (or the board of directors of any successor to the Company); provided that any director
who was not a director as of the date hereof shall be deemed to be an Incumbent Director if such director was elected to the Board
by, or on the recommendation of or with the approval of, at least two-thirds of the directors who then qualified as Incumbent
Directors either actually or by prior operation of the foregoing unless such election, recommendation or approval was the result of
an actual or threatened election contest of the type contemplated by Rule 14a-11 promulgated under the Exchange Act or any
successor provision; or

 

(iv)          the
shareholders of the Company approve a plan of complete liquidation or dissolution of the Company.

 

Notwithstanding the foregoing,
(1) no event or condition shall constitute a Change in Control to the extent that, if it were, a penalty tax would be imposed under
Section 409A of the Code; provided that, in such a case, the event or condition shall continue to constitute a Change in Control
to the maximum extent possible (e.g., if applicable, in respect of vesting without an acceleration of distribution) without causing the
imposition of such penalty tax and (2) no Change in Control shall be deemed to have occurred, and no rights arising upon a Change
in Control as provided in the Plan or any Award Agreement shall exist, to the extent that the Board so determines by resolution adopted
and not rescinded prior to the Change in Control; provided, however, that no such determination by the Board shall be effective
if it would cause a Participant to be subject to a penalty tax under Section 409A of the Code.

 

2.8            “Code”
means the Internal Revenue Code of 1986, as amended. For purposes of this Plan, references to sections of the Code shall be deemed to
include references to any applicable regulations thereunder and any successor or similar provision.

 

2.9            “Committee”
means the committee of the Board delegated with the authority to administer the Plan, or the full Board, as provided in Section 3
of the Plan. With respect to any decision relating to a Reporting Person, the Committee shall consist solely of two or more directors
who are disinterested within the meaning of Rule 16b-3 promulgated under the Exchange Act, as amended from time to time, or any successor
provision. The fact that a Committee member shall fail to qualify under any of these requirements shall not invalidate an Award if the
Award is otherwise validly made under the Plan. The Board may at any time appoint additional members to the Committee, remove and replace
members of the Committee with or without cause, and fill vacancies on the Committee however caused.

 

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2.10            “Common Stock” means the Company’s Common Stock, par value $0.001 per share.

 

2.11            “Company”
means Celldex Therapeutics, Inc., a Delaware corporation, and any successor thereto as provided in Section 15.8.

 

2.12            “Continuous
Service” means that the Participant’s service with the Company or an Affiliate, whether as an employee, director,
advisor or consultant, is not interrupted or terminated. A change in the capacity in which the Participant renders service to the
Company or an Affiliate as an employee, director, advisor or consultant or a change in the entity for which the Participant renders
such service, provided that there is no interruption or termination of the Participant’s service with the Company or an
Affiliate, will not terminate a Participant’s Continuous Service; provided, however, that if the entity for which a
Participant is rendering services ceases to qualify as an Affiliate, as determined by the Committee in its sole discretion, such
Participant’s Continuous Service will be considered to have terminated on the date such entity ceases to qualify as an
Affiliate. For example, a change in status from an employee of the Company to a consultant of an Affiliate or to a director will not
constitute an interruption of Continuous Service. To the extent permitted by Applicable Law, the Committee or the chief executive
officer of the Company, in that party’s sole discretion, may determine whether Continuous Service will be considered
interrupted in the case of (i) any leave of absence approved by the Company or chief executive officer, including sick leave,
military leave or any other personal leave, or (ii) transfers between the Company, an Affiliate, or their successors.
Notwithstanding the foregoing, a leave of absence will be treated as Continuous Service for purposes of vesting in an Award only to
such extent as may be provided in the Company’s (or an Affiliate’s) leave of absence policy, in the written terms of any
leave of absence agreement or policy applicable to the Participant, or as otherwise required by Applicable Law or permitted by the
Committee. Unless the Committee provides otherwise, in its sole discretion, or as otherwise required by Applicable Law, vesting of
Awards shall be tolled during any unpaid leave of absence by a Participant.

 

2.13            “Control”
means, as to any Person, the power to direct or cause the direction of the management and policies of such Person, or the power to appoint
directors of the Company, whether through the ownership of voting securities, by contract or otherwise (the terms “Controlled
by” and “under common Control with” shall have correlative meanings).

 

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

 

2.15            “Disability”
means a Participant being considered “disabled” within the meaning of Section 409A of the Code and Treasury Regulation
1.409A-3(i)(4), as well as any successor regulation or interpretation.

 

2.16            “Effective Date” means the date set forth in Section 17.1 hereof.

 

2.17            “Eligible
Person” means any person who is an employee, officer, director, consultant, scientific advisor or other individual advisor or
other individual service provider of the Company or any Subsidiary, or any person who is determined by the Committee to be a prospective
employee, officer, director, consultant, scientific advisor or other individual advisor or other individual service provider of the Company
or any Subsidiary.

 

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

 

2.19            “Fair
Market Value” of a share of Common Stock shall be, as applied to a specific date (i) the closing price of a share of
Common Stock as of such date on the principal established stock exchange or national market system on which the Common Stock is then
traded (or, if there is no trading in the Common Stock as of such date, the closing price of a share of Common Stock on the most
recent date preceding such date on which trades of the Common Stock were recorded), or (ii) if the shares of Common Stock are
not then traded on an established stock exchange or national market system but are then traded in an over- the-counter market, the
average of the closing bid and asked prices for the shares of Common Stock in such over-the-counter market as of such date (or, if
there are no closing bid and asked prices for the shares of Common Stock as of such date, the average of the closing bid and the
asked prices for the shares of Common Stock on the most recent date preceding such date on which such closing bid and asked prices
are available on such over-the-counter market), or (iii) if the shares of Common Stock are not then listed on a national
securities exchange or national market system or traded in an over-the-counter market, the price of a share of Common Stock as
determined by the Committee in its discretion in a manner consistent with Section 409A of the Code and Treasury Regulation
1.409A-1(b)(5)(iv), as well as any successor regulation or interpretation.

 

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2.20            “Incentive Bonus Award” means an Award granted under Section 12 of the Plan.

 

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

 

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

 

2.23            “Other
Cash-Based Award” means a contractual right granted to an Eligible Person under Section 13 hereof entitling such Eligible
Person to receive a cash payment at such times, and subject to such conditions, as are set forth in the Plan and the applicable Award
Agreement.

 

2.24            “Other
Stock-Based Award” means a contractual right granted to an Eligible Person under Section 13 representing a notional unit
interest equal in value to a share of Common Stock to be paid and distributed at such times, and subject to such conditions as are set
forth in the Plan and the applicable Award Agreement.

 

2.25            “Outside
Director” means a director of the Board who is not an employee of the Company or a Subsidiary.

 

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

 

2.27            “Person”
shall mean, unless otherwise provided, any individual, partnership, firm, trust, corporation, limited liability company or other similar
entity. When two or more Persons act as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding
or disposing of Common Stock, such partnership, limited partnership, syndicate or group shall be deemed a “Person.”

 

2.28            “Performance
Goals” shall mean performance goals established by the Committee as contingencies for the grant, exercise, vesting, distribution,
payment and/or settlement, as applicable, of Awards.

 

2.29            “Performance
Shares” means a contractual right granted to an Eligible Person under Section 10 hereof representing a notional unit interest
equal in value to a share of Common Stock to be paid and distributed at such times, and subject to such conditions, as are set forth in
the Plan and the applicable Award Agreement.

 

2.30            “Performance
Unit” means a contractual right granted to an Eligible Person under Section 11 hereof representing a notional dollar interest
as determined by the Committee to be paid and distributed at such times, and subject to such conditions, as are set forth in the Plan
and the applicable Award Agreement.

 

2.31            “Plan”
means this Celldex Therapeutics, Inc. 2021 Omnibus Equity Incentive Plan, as it may be amended from time to time.

 

2.32            “Prior
Plan” means the Company’s 2008 Stock Option and Incentive Plan (as amended and restated) which shall be terminated as
of the Effective Date as to the issuance of new awards.

 

2.33            “Reporting
Person” means an officer (including, without limitation, the Chief Executive Officer), director or greater than ten percent
stockholder of the Company within the meaning of Rule 16a-2 under the Exchange Act, who is required to file reports pursuant to Rule 16a-3
under the Exchange Act.

 

2.34            “Restricted
Stock Award” means a grant of shares of Common Stock to an Eligible Person under Section 8 hereof that are issued subject
to such vesting and transfer restrictions and such other conditions as are set forth in the Plan and the applicable Award Agreement.

 

2.35            “Restricted
Stock Unit Award” means a contractual right granted to an Eligible Person under Section 9 hereof representing notional
unit interests equal in value to a share of Common Stock to be paid and distributed at such times, and subject to such conditions, as
are set forth in the Plan and the applicable Award Agreement.

 

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

 

2.37            “Stock
Appreciation Right” or “SAR” means a contractual right granted to an Eligible Person under Section 7
hereof entitling such Eligible Person to receive a payment, upon the exercise of such right, in such amount and at such time, and subject
to such conditions, as are set forth in the Plan and the applicable Award Agreement.

 

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

 

2.39            “Subsidiary”
means an entity (whether or not a corporation) that is wholly or majority owned or controlled, directly or indirectly, by the Company;
provided, however, that with respect to Incentive Stock Options, the term “Subsidiary” shall include only an entity that qualifies
under section 424(f) of the Code as a “subsidiary corporation” with respect to the Company.

 

	3.	Administration

 

3.1              Committee
Members. The Plan shall be administered by the Committee; provided that the entire Board may act in lieu of the Committee on any matter,
subject to Section 16b-3 Award requirements referred to in Section 2.9 of the Plan. If and to the extent permitted by Applicable
Law, the Committee may authorize one or more Reporting Persons (or other officers) to make Awards to Eligible Persons who are not Reporting
Persons (or other officers whom the Committee has specifically authorized to make Awards). Subject to Applicable Law and the restrictions
set forth in the Plan, the Committee may delegate administrative functions to individuals who are Reporting Persons, officers, or employees
of the Company or its Subsidiaries.

 

3.2              Committee
Authority. The Committee shall have such powers and authority as may be necessary or appropriate for the Committee to carry out
its functions as described in the Plan. Subject to the express limitations of the Plan, the Committee shall have authority in its
discretion to determine the Eligible Persons to whom, and the time or times at which, Awards may be granted, the number of shares,
units or other rights subject to each Award, the exercise, base or purchase price of an Award (if any), the time or times at which
an Award will become vested, exercisable or payable, the performance criteria, performance goals and other conditions of an Award,
the duration of the Award, and all other terms of the Award. Subject to the terms of the Plan, the Committee shall have authority to
amend the terms of an Award in any manner that is not inconsistent with the Plan (including without limitation to determine, add,
cancel, waive, amend or otherwise alter any restrictions, terms or conditions of any Award, or extend the post-termination
exercisability period of any Stock Option and/or Stock Appreciation Right); provided that neither the Board nor the Committee may,
without shareholder approval, reduce or reprice the exercise price of any Stock Option and/or Stock Appreciation Right or cancel any
Stock Option and/or Stock Appreciation Right in exchange for cash or another Award; and provided further that no such action shall
adversely affect the rights of a Participant with respect to an outstanding Award without the Participant’s consent. The
Committee shall also have discretionary authority to interpret the Plan, to make all factual determinations under the Plan, and to
make all other determinations necessary or advisable for Plan administration, including, without limitation, to correct any defect,
to supply any omission or to reconcile any inconsistency in the Plan or any Award Agreement. The Committee may prescribe, amend, and
rescind rules and regulations relating to the Plan. The Committee’s determinations under the Plan need not be uniform and
may be made by the Committee selectively among Participants and Eligible Persons, whether or not such persons are similarly
situated. The Committee shall, in its discretion, consider such factors as it deems relevant in making its interpretations,
determinations and actions under the Plan including, without limitation, the recommendations or advice of any officer or employee of
the Company or such attorneys, consultants, accountants or other advisors as it may select. All interpretations, determinations, and
actions by the Committee shall be final, conclusive, and binding upon all parties.

 

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3.3              No
Liability; Indemnification. Neither the Board nor any Committee member, nor any Person acting at the direction of the Board or
the Committee, shall be liable for any act, omission, interpretation, construction or determination made in good faith with respect
to the Plan or any Award or Award Agreement. The Company and its Subsidiaries shall pay or reimburse any member of the Committee, as
well as any other Person who takes action on behalf of the Plan, for all reasonable expenses incurred with respect to the Plan, and
to the full extent allowable under Applicable Law shall indemnify each and every one of them for any claims, liabilities, and costs
(including reasonable attorney’s fees) arising out of their good faith performance of duties on behalf of the Company with
respect to the Plan. The Company and its Subsidiaries may, but shall not be required to, obtain liability insurance for this
purpose.

 

3.4              Minimum
Vesting Requirements for Awards. Notwithstanding any other provision of the Plan to the contrary, equity-based Awards granted
under the Plan shall vest no earlier than the first anniversary of the date the Award is granted (excluding, for this purpose, any
(i) substitute Awards (as provided in Section 15.13 of the Plan), (ii) shares of Common Stock delivered in lieu of
fully vested cash Awards and (iii) Awards to Directors that vest on the earlier of the one year anniversary of the date of
grant or the next annual meeting of stockholders); provided, that, the Committee may grant equity-based Awards without regard to the
foregoing minimum vesting requirement with respect to a maximum of five percent (5%) of the available Share Reserve authorized for
issuance under the Plan pursuant to Section 4.1 (subject to adjustment under Section 4.3); and, provided further, for the
avoidance of doubt, that the foregoing restriction does not apply to the Committee’s discretion to provide for accelerated
exercisability or vesting of any Award, including in cases of retirement, death, disability or a Change of Control, in the terms of
the Award or otherwise.

 

	4.	Shares Subject to the Plan

 

4.1              Plan
Share Limitation.

 

(a)            Subject
to adjustment pursuant to Section 4.3 and any other applicable provisions hereof, the maximum aggregate number of shares of
Common Stock which may be issued under all Awards granted to Participants under the Plan shall be (i) three million seven
hundred thousand (3,700,000) shares plus (ii) such number of unused shares of Common Stock reserved under the Prior Plan as of
the Effective Date, which unused reserve shall be rolled into this Plan (subsections (i) and (ii) together, the
 “Share Reserve”); all of which shares may, but need not, be issued in respect of Incentive Stock Options. In
addition, there shall be rolled into this Plan and added to the Share Reserve (but not issued in respect of Incentive Stock Options)
such number of shares of Common Stock subject to outstanding grants or awards under the Prior Plan as of the Effective Date which
are thereafter forfeited, cancelled or otherwise lapse in accordance with the provisions of Section 4.1(b).

 

(b)            Shares
of Common Stock issued under the Plan may be either authorized but unissued shares or shares held in the Company’s treasury.
To the extent that any Award payable in shares of Common Stock is forfeited, cancelled, returned to the Company for failure to
satisfy vesting requirements or upon the occurrence of other forfeiture events, or otherwise terminates without payment being made
thereunder (other than by exercise), the shares of Common Stock covered thereby will no longer be counted against the foregoing
maximum share limitations and may again be made subject to Awards under the Plan pursuant to such limitations. Shares of Common
Stock (i) tendered or withheld in payment of a Stock Option, (ii) tendered or withheld to satisfy any tax withholding
obligation or (iii) repurchased by the Company with Stock Option proceeds, shall not revert to the Plan or be added back to the
Share Reserve. Further, shares of Common Stock covered by a Stock Appreciation Right, to the extent that it is exercised and settled
in shares of Common Stock, and whether or not shares of Common Stock are actually issued to the grantee upon the exercise of the
Stock Appreciation Right, shall be considered issued or transferred pursuant to the Plan.

 

4.2              Outside
Director Limitation. The grant date fair value (determined as of the grant date in accordance with Financial Accounting Standards
Board Accounting Standards Codification Topic 718, or any successor thereto) of Awards granted under the Plan to any Outside Director
during any calendar year shall not exceed $400,000 (inclusive of any cash awards to an Outside Director for such year that are not made
pursuant to the Plan); provided that in the case of a new Outside Director, such amount shall be increased to $600,000 for the initial
year of the Outside Director’s term.

 

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4.3              Adjustments. If
there shall occur any change with respect to the outstanding shares of Common Stock by reason of any recapitalization,
reclassification, stock dividend, extraordinary dividend, stock split, reverse stock split, or other distribution with respect to
the shares of Common Stock, or any merger, reorganization, consolidation, combination, spin-off or other similar corporate change,
or any other change affecting the Common Stock, the Committee shall, in the manner and to the extent that it deems appropriate and
equitable to the Participants and consistent with the terms of the Plan, cause an adjustment to be made in (i) the maximum
numbers and kind of shares provided in Section 4.1 hereof, (ii) the numbers and kind of shares of Common Stock, units, or
other rights subject to then outstanding Awards, (iii) the price for each share or unit or other right subject to then
outstanding Awards, (iv) the performance measures or goals relating to the vesting of an Award, and (v) any other terms of
an Award that are affected by the event to prevent dilution or enlargement of a Participant’s rights under an Award.
Notwithstanding the foregoing, in the case of Incentive Stock Options, any such adjustments shall, to the extent practicable, be
made in a manner consistent with the requirements of Section 424(a) of the Code.

 

	5.	Participation and Awards

 

5.1              Designation
of Participants. All Eligible Persons are eligible to be designated by the Committee to receive Awards and become Participants under
the Plan. The Committee has the authority, in its discretion, to determine and designate from time to time those Eligible Persons who
are to be granted Awards, the types of Awards to be granted and the number of shares of Common Stock or units subject to Awards granted
under the Plan. In selecting Eligible Persons to be Participants and in determining the type and amount of Awards to be granted under
the Plan, the Committee shall consider any and all factors that it deems relevant or appropriate.

 

5.2              Determination
of Awards. The Committee shall determine the terms and conditions of all Awards granted to Participants in accordance with its authority
under Section 3.2 hereof. An Award may consist of one type of right or benefit hereunder or of two or more such rights or benefits
granted in tandem or in the alternative. To the extent deemed appropriate by the Committee, an Award shall be evidenced by an Award Agreement
as described in Section 15.1 hereof.

 

	6.	Stock Options

 

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

 

6.2              Exercise
Price. The exercise price per share of a Stock Option shall not be less than 100% of the Fair Market Value of a share of Common Stock
on the Date of Grant, subject to adjustments as provided for under Section 4.3.

 

6.3              Vesting
of Stock Options. Subject to Section 3.4, the Committee shall in its sole discretion prescribe the time or times at which,
or the conditions upon which, a Stock Option or portion thereof shall become vested and/or exercisable. The requirements for vesting
and exercisability of a Stock Option may be based on the Continuous Service of the Participant for a specified time period (or
periods) and/or on the attainment of a specified performance goal (or goals) established by the Committee in its discretion. The
Committee may, in its sole discretion, accelerate the vesting or exercisability of any Stock Option at any time. The Committee, in
its sole discretion, may allow a Participant to exercise unvested Nonqualified Stock Options, in which case the shares of Common
Stock then issued shall be Restricted Stock having analogous vesting restrictions to the unvested Nonqualified Stock Options.

 

6.4              Term
of Stock Options. The Committee shall in its discretion prescribe in an Award Agreement the period during which a vested Stock Option
may be exercised, provided that the maximum term of a Stock Option shall be ten (10) years from the Date of Grant. A Stock Option
may be earlier terminated as specified by the Committee and set forth in an Award Agreement upon or following the termination of a Participant’s
Continuous Service for any reason, including by reason of voluntary resignation, death, Disability, termination for Cause or any other
reason. Except as otherwise provided in this Section 6 or in an Award Agreement as such agreement may be amended from time to time
upon authorization of the Committee, no Stock Option may be exercised at any time during the term thereof unless the Participant is then
in Continuous Service. Notwithstanding the foregoing, unless an Award Agreement provides otherwise:

 

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(a)           If
a Participant’s Continuous Service terminates by reason of his or her death, any Stock Option held by such Participant may, to
the extent then exercisable, be exercised by such Participant’s estate or any Person who acquires the right to exercise such
Stock Option by bequest or inheritance at any time in accordance with its terms for up to one year after the date of such
Participant’s death (but in no event after the earlier of the expiration of the term of such Stock Option or such time as the
Stock Option is otherwise canceled or terminated in accordance with its terms). Upon expiration of such one- year period, no portion
of the Stock Option held by such Participant shall be exercisable and the Stock Option shall be deemed to be canceled, forfeited and
of no further force or effect.

 

(b)           If
a Participant’s Continuous Service terminates by reason of his or her Disability, any Stock Option held by such Participant
may, to the extent then exercisable, be exercised by the Participant or his or her personal representative at any time in accordance
with its terms for up to one year after the date of such Participant’s termination of Continuous Service (but in no event
after the earlier of the expiration of the term of such Stock Option or such time as the Stock Option is otherwise canceled or
terminated in accordance with its terms). Upon expiration of such one-year period, no portion of the Stock Option held by such
Participant shall be exercisable and the Stock Option shall be deemed to be canceled, forfeited and of no further force or
effect.

 

(c)           If
a Participant’s Continuous Service terminates for any reason other than death, Disability or Cause, any Stock Option held by
such Participant may, to the extent then exercisable, be exercised by the Participant up until ninety (90) days following such
termination of Continuous Service (but in no event after the earlier of the expiration of the term of such Stock Option or such time
as the Stock Option is otherwise canceled or terminated in accordance with its terms). Upon expiration of such 90- day period, no
portion of the Stock Option held by such Participant shall be exercisable and the Stock Option shall be deemed to be canceled,
forfeited and of no further force or effect.

 

(d)           To
the extent that a Stock Option of a Participant whose Continuous Service terminates is not exercisable, such Stock Option shall be deemed
forfeited and canceled on the ninetieth (90th) day after such termination of Continuous Service or at such earlier time as
the Committee may determine.

 

6.5            Stock
Option Exercise. Subject to such terms and conditions as shall be specified in an Award Agreement, a Stock Option may be
exercised in whole or in part at any time during the term thereof by notice in the form required by the Company, and payment of the
aggregate exercise price in cash or by certified or bank check, or through a broker-assisted exercise program implemented by the
Committee in connection with the Plan. Subject to any governing rules or regulations, as soon as practicable after receipt of
written notification of exercise and full payment of the exercise price and satisfaction of any applicable tax withholding pursuant
to Section 16.5, the Company shall deliver to the Participant evidence of book entry shares of Common Stock, or upon the
Participant’s request, Common Stock certificates in an appropriate amount based upon the number of shares of Common Stock
purchased under the Option. Unless otherwise determined by the Committee, all payments under all of the methods indicated above
shall be paid in United States dollars.

 

6.6            Additional Rules for Incentive Stock Options.

 

(a)            Eligibility.
An Incentive Stock Option may only be granted to an Eligible Person who is considered an employee under Treasury Regulation §1.421-1(h) of
the Company or any Subsidiary.

 

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

 

(c)           Ten
Percent Stockholders. If a Stock Option granted under the Plan is intended to be an Incentive Stock Option, and if the
Participant, at the time of grant, owns stock possessing ten percent (10%) or more of the total combined voting power of all classes
of Common Stock of the Company or any Subsidiary, then (i) the Stock Option exercise price per share shall in no event be less
than 110% of the Fair Market Value of the Common Stock on the date of such grant and (ii) such Stock Option shall not be
exercisable after the expiration of five (5) years following the date such Stock Option is granted.

 

    8 

     

    

 

(d)            Termination
of Employment. An Award of an Incentive Stock Option shall provide that such Stock Option may be exercised not later than three (3) months
following termination of employment of the Participant with the Company and all Subsidiaries, or not later than one (1) year following
death or a permanent and total disability within the meaning of Section 22(e)(3) of the Code, as and to the extent determined
by the Committee to be necessary to comply with the requirements of Section 422 of the Code.

 

(e)            Disqualifying
Dispositions. If shares of Common Stock acquired by exercise of an Incentive Stock Option are disposed of within two
(2) years following the Date of Grant or one (1) year following the transfer of such shares to the Participant upon
exercise, the Participant shall, promptly following such disposition, notify the Company in writing of the date and terms of such
disposition and provide such other information regarding the disposition as the Company may reasonably require.

 

	7.	Stock Appreciation Rights

 

7.1              Grant
of Stock Appreciation Rights. A Stock Appreciation Right may be granted to any Eligible Person selected by the Committee. Stock Appreciation
Rights may be granted on a basis that allows for the exercise of the right by the Participant or that provides for the automatic payment
of the right upon a specified date or event.

 

7.2              Base
Price. The base price of a Stock Appreciation Right shall be determined by the Committee in its sole discretion; provided, however,
that the base price for any grant of a Stock Appreciation Right shall not be less than 100% of the Fair Market Value of a share of Common
Stock on the Date of Grant, subject to adjustments as provided for under Section 4.3.

 

7.3              Vesting
Stock Appreciation Rights. Subject to Section 3.4, the Committee shall in its discretion prescribe the time or times at
which, or the conditions upon which, a Stock Appreciation Right or portion thereof shall become vested and/or exercisable. The
requirements for vesting and exercisability of a Stock Appreciation Right may be based on the Continuous Service of a Participant
for a specified time period (or periods) or on the attainment of a specified performance goal (or goals) established by the
Committee in its discretion. The Committee may, in its sole discretion, accelerate the vesting or exercisability of any Stock
Appreciation Right at any time.

 

7.4              Term
of Stock Appreciation Rights. The Committee shall in its discretion prescribe in an Award Agreement the period during which a vested
Stock Appreciation Right may be exercised, provided that the maximum term of a Stock Appreciation Right shall be ten (10) years from
the Date of Grant. A Stock Appreciation Right may be earlier terminated as specified by the Committee and set forth in an Award Agreement
upon or following the termination of a Participant’s Continuous Service for any reason, including by reason of voluntary resignation,
death, Disability, termination for Cause or any other reason. Except as otherwise provided in this Section 7 or in an Award Agreement,
as such agreement may be amended from time to time upon authorization of the Committee, no Stock Appreciation Right may be exercised at
any time during the term thereof unless the Participant is then in Continuous Service.

 

7.5              Payment
of Stock Appreciation Rights. Subject to such terms and conditions as shall be specified in an Award Agreement, a vested Stock
Appreciation Right may be exercised in whole or in part at any time during the term thereof by notice in the form required by the
Company and payment of any exercise price. Upon the exercise of a Stock Appreciation Right and payment of any applicable exercise
price, a Participant shall be entitled to receive an amount determined by multiplying: (i) the excess of the Fair Market Value
of a share of Common Stock on the date of exercise of the Stock Appreciation Right over the base price of such Stock Appreciation
Right, by (ii) the number of shares as to which such Stock Appreciation Right is exercised. Payment of the amount determined
under the immediately preceding sentence may be made, as approved by the Committee and set forth in the Award Agreement, in shares
of Common Stock valued at their Fair Market Value on the date of exercise, in cash, or in a combination of shares of Common Stock
and cash, subject to applicable tax withholding requirements set forth in Section 16.5. If Stock Appreciation Rights are
settled in shares of Common Stock, then as soon as practicable following the date of settlement the Company shall deliver to the
Participant evidence of book entry shares of Common Stock, or upon the Participant’s request, Common Stock certificates in an
appropriate amount.

 

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	8.	Restricted Stock Awards

 

8.1              Grant
of Restricted Stock Awards. A Restricted Stock Award may be granted to any Eligible Person selected by the Committee. The Committee
may require the payment by the Participant of a specified purchase price in connection with any Restricted Stock Award. The Committee
may provide in an Award Agreement for the payment of dividends and distributions to the Participant at the times of vesting or other payment
of the Restricted Stock Award. If any dividends or distributions are paid while a Restricted Stock Award is subject to restrictions under
Section 8.3 of the Plan, the dividends or other distributions shall be subject to the same restrictions on transferability as the
shares of Common Stock to which they relate and shall only be paid to the Participant to the extent that the restrictions are subsequently
removed and the vesting conditions are subsequently satisfied. The Committee may also subject the grant of any Restricted Stock Award
to the execution of a voting agreement with the Company or with any Affiliate of the Company.

 

8.2              Vesting
Requirements. The restrictions imposed on shares of Common Stock granted under a Restricted Stock Award shall lapse in
accordance with the vesting requirements specified by the Committee in the Award Agreement (and subject to Section 3.4). Upon
vesting of a Restricted Stock Award, such Award shall be subject to the tax withholding requirement set forth in Section 16.5.
The requirements for vesting of a Restricted Stock Award may be based on the Continuous Service of the Participant for a specified
time period (or periods) or on the attainment of a specified performance goal (or goals) established by the Committee in its
discretion. The Committee may, in its sole discretion, accelerate the vesting of a Restricted Stock Award at any time. If the
vesting requirements of a Restricted Stock Award shall not be satisfied, the Award shall be forfeited and the shares of Common Stock
subject to the Award shall be returned to the Company. In the event that the Participant paid any purchase price with respect to
such forfeited shares, unless otherwise provided by the Committee in an Award Agreement, the Company will refund to the Participant
the lesser of (i) such purchase price and (ii) the Fair Market Value of such shares on the date of forfeiture.

 

8.3              Restrictions.
Shares granted under any Restricted Stock Award may not be transferred, assigned or subject to any encumbrance, pledge, or charge until
all applicable restrictions are removed or have expired, unless otherwise allowed by the Committee. The Committee may require in an Award
Agreement that certificates representing the shares granted under a Restricted Stock Award bear a legend making appropriate reference
to the restrictions imposed, and that certificates representing the shares granted or sold under a Restricted Stock Award will remain
in the physical custody of an escrow holder until all restrictions are removed or have expired.

 

8.4              Rights
as Stockholder. Subject to the foregoing provisions of this Section 8 and the applicable Award Agreement, the Participant to
whom a Restricted Stock Award is made shall have all rights of a stockholder with respect to the shares granted to the Participant under
the Restricted Stock Award, including the right to vote the shares, unless the Committee determines otherwise at the time the Restricted
Stock Award is granted. Any right to receive all dividends and other distributions paid or made with respect thereto shall be subject
to the requirements of Section 15.14.

 

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

 

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	9.	Restricted Stock Unit Awards

 

9.1              Grant
of Restricted Stock Unit Awards. A Restricted Stock Unit Award may be granted to any Eligible Person selected by the Committee.
The value of each stock unit under a Restricted Stock Unit Award is equal to the Fair Market Value of the Common Stock on the
applicable date or time period of determination, as specified by the Committee. A Restricted Stock Unit Award shall be subject to
such restrictions and conditions as the Committee shall determine. A Restricted Stock Unit Award may be granted together with a
dividend equivalent right with respect to the shares of Common Stock subject to the Award, which if so granted shall be accumulated
and may be deemed reinvested in additional Restricted Stock Units, as determined by the Committee in its sole discretion. If any
dividend equivalents are to be earned while a Restricted Stock Unit Award is subject to restrictions under Section 9 of the
Plan, the Committee shall provide in the Award Agreement for such dividend equivalents to be subject to the same restrictions on
transferability as the Restricted Stock Units to which they relate.

 

9.2              Vesting
of Restricted Stock Unit Awards. On the Date of Grant, the Committee shall, in its discretion (and subject to Section 3.4), determine
any vesting requirements with respect to a Restricted Stock Unit Award, which shall be set forth in the Award Agreement. The requirements
for vesting of a Restricted Stock Unit Award may be based on the Continuous Service of the Participant for a specified time period (or
periods) or on the attainment of a specified performance goal (or goals) established by the Committee in its discretion. The Committee
may, in its sole discretion, accelerate the vesting of a Restricted Stock Unit Award at any time. A Restricted Stock Unit Award may also
be granted on a fully vested basis, with a deferred payment date as may be determined by the Committee or elected by the Participant in
accordance with rules established by the Committee and in compliance with Applicable Law including Section 409A of the Code.

 

9.3              Payment
of Restricted Stock Unit Awards. A Restricted Stock Unit Award shall become payable to a Participant at the time or times determined
by the Committee and set forth in the Award Agreement, which may be upon or following the vesting of the Award. Payment of a Restricted
Stock Unit Award may be made, at the discretion of the Committee, in cash or in shares of Common Stock, or in a combination thereof as
described in the Award Agreement, subject to applicable tax withholding requirements set forth in Section 16.5. Any cash payment
of a Restricted Stock Unit Award shall be made based upon the Fair Market Value of the Common Stock, determined on such date or over such
time period as determined by the Committee. Notwithstanding the foregoing, unless specified otherwise in the Award Agreement, any Restricted
Stock Unit, whether settled in Common Stock or cash, shall be paid no later than two and one-half months after the later of the calendar
year or fiscal year in which the Restricted Stock Units vest. If Restricted Stock Unit Awards are settled in shares of Common Stock, then
as soon as practicable following the date of settlement, the Company shall deliver to the Participant evidence of book entry shares of
Common Stock, or upon the Participant’s request, Common Stock certificates in an appropriate amount.

 

	10.	Performance Shares

 

10.1            Grant
of Performance Shares. Performance Shares may be granted to any Eligible Person other than an Outside Director selected by the Committee.
A Performance Share Award shall be subject to such restrictions and condition as the Committee shall specify. A Performance Share Award
may be granted with a dividend equivalent right with respect to the shares of Common Stock subject to the Award, which may be accumulated
and may be deemed reinvested in additional Performance Shares, as determined by the Committee in its sole discretion, subject to the requirements
of Section 15.14.

 

10.2            Value
of Performance Shares. Each Performance Share shall have an initial value equal to the Fair Market Value of a Share on the Date of
Grant. The Committee shall set performance goals in its discretion that, depending on the extent to which they are met over a specified
time period, shall determine the number of Performance Shares that shall be paid to a Participant.

 

10.3            Earning
of Performance Shares. After the applicable time period has ended, the number of Performance Shares earned by the Participant over
such time period shall be determined as a function of the extent to which the applicable corresponding performance goals have been achieved.
This determination shall be made solely by the Committee. The Committee may, in its sole discretion, waive any performance or vesting
conditions relating to a Performance Share Award.

 

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10.4            Form and
Timing of Payment of Performance Shares. The Committee shall pay at the close of the applicable Performance Period, or as soon
as practicable thereafter, any earned Performance Shares in the form of cash or in shares of Common Stock or in a combination
thereof, as specified in a Participant’s Award Agreement, subject to applicable tax withholding requirements set forth in
Section 16.5. Notwithstanding the foregoing, unless specified otherwise in the Award Agreement, all Performance Shares shall be
paid no later than two and one-half months following the later of the calendar year or fiscal year in which such Performance Shares
vest. Any shares of Common Stock paid to a Participant under this Section 10.4 may be subject to any restrictions deemed
appropriate by the Committee. If Performance Shares are settled in shares of Common Stock, then as soon as practicable following the
date of settlement the Company shall deliver to the Participant evidence of book entry shares of Common Stock, or upon the
Participant’s request, Common Stock certificates in an appropriate amount.

 

	11.	Performance Units

 

11.1            Grant
of Performance Units. Performance Units may be granted to any Eligible Person other than an Outside Director selected by the Committee.
A Performance Unit Award shall be subject to such restrictions and condition as the Committee shall specify in a Participant’s Award
Agreement.

 

11.2            Value
of Performance Units. Each Performance Unit shall have an initial notional value equal to a dollar amount determined by the Committee,
in its sole discretion. The Committee shall set performance goals in its discretion that, depending on the extent to which they are met
over a specified time period, will determine the number of Performance Units that shall be settled and paid to the Participant.

 

11.3            Earning
of Performance Units. After the applicable time period has ended, the number of Performance Units earned by the Participant, and the
amount payable in cash, in shares or in a combination thereof, over such time period shall be determined as a function of the extent to
which the applicable corresponding performance goals have been achieved. This determination shall be made solely by the Committee. The
Committee may, in its sole discretion, waive any performance or vesting conditions relating to a Performance Unit Award.

 

11.4            Form and
Timing of Payment of Performance Units. The Committee shall pay at the close of the applicable Performance Period, or as soon as
practicable thereafter, any earned Performance Units in the form of cash or in shares of Common Stock or in a combination thereof,
as specified in a Participant’s Award Agreement, subject to applicable tax withholding requirements set forth in
Section 16.5. Notwithstanding the foregoing, unless specified otherwise in the Award Agreement, all Performance Units shall be
paid no later than two and one-half months following the later of the calendar year or fiscal year in which such Performance Units
vest. Any shares of Common Stock paid to a Participant under this Section 11.4 may be subject to any restrictions deemed
appropriate by the Committee. If Performance Units are settled in shares of Common Stock, then as soon as practicable following the
date of settlement the Company shall deliver to the Participant evidence of book entry shares of Common Stock, or upon the
Participant’s request, Common Stock certificates in an appropriate amount.

 

	12.	Incentive Bonus Awards

 

12.1            Incentive
Bonus Awards. The Committee, at its discretion, may grant Incentive Bonus Awards to such Participants as it may designate from time
to time. The terms of a Participant’s Incentive Bonus Award shall be set forth in the Participant’s Award Agreement. Each
Award Agreement shall specify such general terms and conditions as the Committee shall determine.

 

12.2            Incentive
Bonus Award Performance Criteria. The determination of Incentive Bonus Awards for a given year or years may be based upon the
attainment of specified levels of Company or Subsidiary performance as measured by pre-established, objective performance criteria
determined at the discretion of the Committee. The Committee shall (i) select those Participants who shall be eligible to
receive an Incentive Bonus Award, (ii) determine the performance period, (iii) determine target levels of performance, and
(iv) determine the level of Incentive Bonus Award to be paid to each selected Participant upon the achievement of each
performance level. The Committee generally shall make the foregoing determinations prior to the commencement of services to which an
Incentive Bonus Award relates, to the extent applicable, and while the outcome of the performance goals and targets is
uncertain.

 

12.3            Payment
of Incentive Bonus Awards.

 

(a)            Incentive
Bonus Awards shall be paid in cash or Common Stock, as set forth in a Participant’s Award Agreement. Payments shall be made
following a determination by the Committee that the performance targets were attained and shall be made within two and one-half
months after the later of the end of the fiscal or calendar year in which the Incentive Award is no longer subject to a substantial
risk of forfeiture.

 

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(b)           The
amount of an Incentive Bonus Award to be paid upon the attainment of each targeted level of performance shall equal a percentage of a
Participant’s base salary for the fiscal year, a fixed dollar amount, or such other formula, as determined by the Committee.

 

	13.	Other Cash-Based Awards and Other Stock-Based Awards

 

13.1            Other
Cash-Based and Stock-Based Awards. The Committee may grant other types of equity- based or equity-related Awards not otherwise described
by the terms of this Plan (including the grant or offer for sale of unrestricted Shares) in such amounts and subject to such terms and
conditions, as the Committee shall determine. Such Awards may involve the transfer of actual shares of Common Stock to a Participant,
or payment in cash or otherwise of amounts based on the value of shares of Common Stock. In addition, the Committee, at any time and from
time to time, may grant Other Cash-Based Awards to a Participant in such amounts and upon such terms as the Committee shall determine,
in its sole discretion.

 

13.2            Value
of Cash-Based Awards and Other Stock-Based Awards. Each Other Stock-Based Award shall be expressed in terms of shares of Common Stock
or units based on shares of Common Stock, as determined by the Committee, in its sole discretion. Each Other Cash-Based Award shall specify
a payment amount or payment range as determined by the Committee, in its sole discretion. If the Committee exercises its discretion to
establish performance goals, the value of Other Cash-Based Awards that shall be paid to the Participant will depend on the extent to which
such performance goals are met.

 

13.3            Payment
of Cash-Based Awards and Other Stock-Based Awards. Payment, if any, with respect to Other Cash-Based Awards and Other Stock-Based
Award shall be made in accordance with the terms of the Award, in cash or shares of Common Stock as the Committee determines.

 

	14.	Change in Control

 

14.1            Effect
of a Change in Control.

 

(a)            The
Committee may, at the time of the grant of an Award and as set forth in an Award Agreement, provide for the effect of a
 “Change in Control” on an Award. Such provisions may include any one or more of the following: (i) the acceleration
or extension of time periods for purposes of exercising, vesting in, or realizing gain from any Award, (ii) the elimination or
modification of performance or other conditions related to the payment or other rights under an Award, (iii) provision for the
cash settlement of an Award for an equivalent cash value, as determined by the Committee, or (iv) such other modification or
adjustment to an Award as the Committee deems appropriate to maintain and protect the rights and interests of Participants upon or
following a Change in Control. To the extent necessary for compliance with Section 409A of the Code, an Award Agreement shall
provide that an Award subject to the requirements of Section 409A that would otherwise become payable upon a Change in Control
shall only become payable to the extent that the requirements for a “change in control” for purposes of
Section 409A have been satisfied.

 

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(b)            Notwithstanding
anything to the contrary set forth in the Plan, unless otherwise provided by an Award Agreement, upon or in anticipation of any
Change in Control, the Committee may, in its sole and absolute discretion and without the need for the consent of any Participant,
take one or more of the following actions contingent upon the occurrence of that Change in Control: (i) cause any or all
outstanding Stock Options and Stock Appreciation Rights held by Participants affected by the Change in Control to become vested and
immediately exercisable, in whole or in part; (ii) cause any or all outstanding Restricted Stock, Restricted Stock Units,
Performance Shares, Performance Units, Incentive Bonus Award and any other Award held by Participants affected by the Change in
Control to become non-forfeitable, in whole or in part; (iii) cancel any Stock Option or Stock Appreciation Right in exchange
for a substitute option in a manner consistent with the requirements of Treasury Regulation. §1.424-1(a) or
 §1.409A-1(b)(5)(v)(D), as applicable (notwithstanding the fact that the original Stock Option may never have been intended to
satisfy the requirements for treatment as an Incentive Stock Option); (iv) cancel any Restricted Stock, Restricted Stock Units,
Performance Shares or Performance Units held by a Participant in exchange for restricted stock or performance shares of or stock or
performance units in respect of the capital stock of any successor corporation; (v) redeem any Restricted Stock held by a
Participant affected by the Change in Control for cash and/or other substitute consideration with a value equal to the Fair Market
Value of an unrestricted share of Common Stock on the date of the Change in Control; (vi) terminate any Award in exchange for
an amount of cash and/or property equal to the amount, if any, that would have been attained upon the exercise of such Award or
realization of the Participant’s rights as of the date of the occurrence of the Change in Control (the “Change in
Control Consideration”); provided, however that if the Change in Control Consideration with respect to any Option or Stock
Appreciation Right does not exceed the exercise price of such Option or Stock Appreciation Right, the Committee may cancel the
Option or Stock Appreciation Right without payment of any consideration therefor; and/or (vii) take any other action necessary
or appropriate to carry out the terms of any definitive agreement controlling the terms and conditions of the Change in Control. Any
such Change in Control Consideration may be subject to any escrow, indemnification and similar obligations, contingencies and
encumbrances applicable in connection with the Change in Control to holders of Common Stock. Without limitation of the foregoing, if
as of the date of the occurrence of the Change in Control the Committee determines that no amount would have been attained upon the
realization of the Participant’s rights, then such Award may be terminated by the Company without payment. The Committee may
cause the Change in Control Consideration to be subject to vesting conditions (whether or not the same as the vesting conditions
applicable to the Award prior to the Change in Control) and/or make such other modifications, adjustments or amendments to
outstanding Awards or this Plan as the Committee deems necessary or appropriate.

 

(c)            The
Committee may require a Participant to (i) represent and warrant as to the unencumbered title to the Participant’s
Awards, (ii) bear such Participant’s pro rata share of any post-closing indemnity obligations, and be subject to the same
or similar post-closing purchase price adjustments, escrow terms, offset rights, holdback terms and similar conditions as the other
holders of Common Stock, and(iii) execute and deliver such documents and instruments as the Committee may reasonably require
for the Participant to be bound by such obligations. The Committee will endeavor to take action under this Section 14 in a
manner that does not cause a violation of Section 409A of the Code with respect to an Award.

 

	15.	General Provisions

 

15.1            Award
Agreement. To the extent deemed necessary by the Committee, an Award under the Plan shall be evidenced by an Award Agreement in
a written or electronic form approved by the Committee setting forth the number of shares of Common Stock or units subject to the
Award, the exercise price, base price, or purchase price of the Award, the time or times at which an Award will become vested,
exercisable or payable and the term of the Award. The Award Agreement may also set forth the effect on an Award of termination of
Continuous Service under certain circumstances. The Award Agreement shall be subject to and incorporate, by reference or otherwise,
all of the applicable terms and conditions of the Plan, and may also set forth other terms and conditions applicable to the Award as
determined by the Committee consistent with the limitations of the Plan. Award Agreements evidencing Incentive Stock Options shall
contain such terms and conditions as may be necessary to meet the applicable provisions of Section 422 of the Code. The grant
of an Award under the Plan shall not confer any rights upon the Participant holding such Award other than such terms, and subject to
such conditions, as are specified in the Plan as being applicable to such type of Award (or to all Awards) or as are expressly set
forth in the Award Agreement.

 

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15.2            Forfeiture
Events/Representations. The Committee may specify in an Award Agreement at the time of the Award that the Participant’s
rights, payments and benefits with respect to an Award shall be subject to reduction, cancellation, forfeiture or recoupment upon
the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award.
Such events shall include, but shall not be limited to, termination of Continuous Service for Cause, violation of material Company
policies, breach of noncompetition, confidentiality or other restrictive covenants that may apply to the Participant, or other
conduct by the Participant that is detrimental to the business or reputation of the Company. The Committee may also specify in an
Award Agreement that the Participant’s rights, payments and benefits with respect to an Award shall be conditioned upon the
Participant making a representation regarding compliance with noncompetition, confidentiality or other restrictive covenants that
may apply to the Participant and providing that the Participant’s rights, payments and benefits with respect to an Award shall
be subject to reduction, cancellation, forfeiture or recoupment on account of a breach of such representation. Notwithstanding the
foregoing, the confidentiality restrictions set forth in an Award Agreement shall not, and shall not be interpreted to, impair a
Participant from exercising any legally protected whistleblower rights (including under Rule 21 of the Exchange Act). In
addition and without limitation of the foregoing, any amounts paid hereunder shall be subject to recoupment in accordance with The
Dodd — Frank Wall Street Reform and Consumer Protection Act and any implementing regulations thereunder, any
 “clawback” policy adopted by the Company or as is otherwise required by Applicable Law or stock exchange listing
condition.

 

15.3            No Assignment or Transfer; Beneficiaries.

 

(a)            Awards
under the Plan shall not be assignable or transferable by the Participant, except by will or by the laws of descent and distribution,
and shall not be subject in any manner to assignment, alienation, pledge, encumbrance or charge. Notwithstanding the foregoing, the Committee
may provide in an Award Agreement that the Participant shall have the right to designate a beneficiary or beneficiaries who shall be entitled
to any rights, payments or other benefits specified under an Award following the Participant’s death. During the lifetime of a Participant,
an Award shall be exercised only by such Participant or such Participant’s guardian or legal representative. In the event of a Participant’s
death, an Award may, to the extent permitted by the Award Agreement, be exercised by the Participant’s beneficiary as designated
by the Participant in the manner prescribed by the Committee or, in the absence of an authorized beneficiary designation, by the legatee
of such Award under the Participant’s will or by the Participant’s estate in accordance with the Participant’s will
or the laws of descent and distribution, in each case in the same manner and to the same extent that such Award was exercisable by the
Participant on the date of the Participant’s death.

 

(b)            Limited
Transferability Rights. Notwithstanding anything else in this Section 15.3 to the contrary, the Committee may in its
discretion provide in an Award Agreement that an Award in the form of a Nonqualified Stock Option, share-settled Stock Appreciation
Right, Restricted Stock, Performance Share or share-settled Other Stock-Based Award may be transferred, on such terms and conditions
as the Committee deems appropriate, either (i) by instrument to the Participant’s “Immediate Family” (as
defined below), (ii) by instrument to an inter vivos or testamentary trust (or other entity) in which the Award is to be passed
to the Participant’s designated beneficiaries, or (iii) by gift to charitable institutions. Any transferee of the
Participant’s rights shall succeed and be subject to all of the terms of the applicable Award Agreement and the Plan.
 “Immediate Family” means any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse,
sibling, niece, nephew, mother-in- law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, and shall
include adoptive relationships.

 

15.4            Rights
as Stockholder. A Participant shall have no rights as a holder of shares of Common Stock with respect to any unissued shares of Common
Stock covered by an Award until the date the Participant becomes the holder of record of such securities. Except as provided in Section 4.3
hereof, no adjustment or other provision shall be made for dividends or other stockholder rights, except to the extent that the Award
Agreement provides for dividend payments or dividend equivalent rights.

 

15.5            Employment
or Continuous Service. Nothing in the Plan, in the grant of any Award or in any Award Agreement shall confer upon any Eligible Person
or Participant any right to continue in Continuous Service, or interfere in any way with the right of the Company or any of its Subsidiaries
to terminate the employment or other service relationship of an Eligible Person or Participant for any reason at any time.

 

15.6            Fractional
Shares. In the case of any fractional share or unit resulting from the grant, vesting, payment or crediting of dividends or dividend
equivalents under an Award, the Committee shall have the discretionary authority to (i) disregard such fractional share or unit,
(ii) round such fractional share or unit to the nearest lower or higher whole share or unit, or (iii) convert such fractional
share or unit into a right to receive a cash payment.

 

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15.7            Other
Compensation and Benefit Plans. The amount of any compensation deemed to be received by a Participant pursuant to an Award shall
not constitute includable compensation for purposes of determining the amount of benefits to which a Participant is entitled under
any other compensation or benefit plan or program of the Company or any Subsidiary, including, without limitation, under any bonus,
pension, profit-sharing, life insurance, salary continuation or severance benefits plan, except to the extent specifically provided
by the terms of any such plan.

 

15.8            Plan
Binding on Transferees. The Plan shall be binding upon the Company, its transferees and assigns, and the Participant, the Participant’s
executor, administrator and permitted transferees and beneficiaries. In addition, all obligations of the Company under this Plan with
respect to Awards granted hereunder shall be binding on any successor to the Company, whether the existence of such successor is the result
of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the
Company.

 

15.9            Foreign
Jurisdictions. The Committee may adopt, amend and terminate such arrangements and grant such Awards, not inconsistent with the intent
of the Plan, as it may deem necessary or desirable to comply with any tax, securities, regulatory or other laws of other jurisdictions
with respect to Awards that may be subject to such laws. The terms and conditions of such Awards may vary from the terms and conditions
that would otherwise be required by the Plan solely to the extent the Committee deems necessary for such purpose. Moreover, the Board
may approve such supplements to or amendments, restatements or alternative versions of the Plan, not inconsistent with the intent of the
Plan, as it may consider necessary or appropriate for such purposes, without thereby affecting the terms of the Plan as in effect for
any other purpose.

 

15.10          No
Obligation to Notify or Minimize Taxes. The Company will have no duty or obligation to any Participant to advise such holder as
to the time or manner of exercising an Award. Furthermore, the Company will have no duty or obligation to warn or otherwise advise
such holder of a pending termination or expiration of an Award or a possible period in which the Award may not be exercised. The
Company has no duty or obligation to minimize the tax consequences of an Award to the holder of such Award.

 

15.11          Corporate
Action Constituting Grant of Awards. Corporate action constituting a grant by the Company of an Award to any Participant will be deemed
completed as of the date of such corporate action, unless otherwise determined by the Committee or the Board, regardless of when the instrument,
certificate, or letter evidencing the Award is communicated to, or actually received or accepted by, the Participant. In the event that
the corporate records (e.g., Board or Committee consents, resolutions or minutes) documenting the corporate action constituting the grant
contain terms (e.g., exercise price, vesting schedule or number of shares) that are inconsistent with those in the Award Agreement as
a result of a clerical error in the papering of the Award Agreement, the corporate records will control and the Participant will have
no legally binding right to the incorrect term in the Award Agreement.

 

15.12          Change
in Time Commitment. In the event a Participant’s regular level of time commitment in the performance of the
Participant’s services for the Company and any Affiliates is reduced (for example, and without limitation, if the Participant
is an employee of the Company and the employee has a change in status from a full-time employee to a part-time employee) after the
date of grant of any Award to the Participant, the Committee has the right in its sole discretion to (i) make a corresponding
reduction in the number of shares subject to any portion of such Award that is scheduled to vest or become payable after the date of
such change in time commitment and (ii) in lieu of or in combination with such a reduction, extend the vesting or payment
schedule applicable to such Award. In the event of any such reduction, the Participant will have no right with respect to any
portion of the Award that is so reduced or extended.

 

15.13          Substitute
Awards in Corporate Transactions. Nothing contained in the Plan shall be construed to limit the right of the Committee to grant Awards
under the Plan in connection with the acquisition, whether by purchase, merger, consolidation or other corporate transaction, of the business
or assets of any corporation or other entity. Without limiting the foregoing, the Committee may grant Awards under the Plan to an employee
or director of another corporation who becomes an Eligible Person by reason of any such corporate transaction in substitution for awards
previously granted by such corporation or entity to such person. The terms and conditions of the substitute Awards may vary from the terms
and conditions that would otherwise be required by the Plan solely a the extent the Committee deems necessary for such purpose. Any shares
of Common Stock subject to these substitute Awards shall not be counted against any of the maximum share limitations set forth in the
Plan.

 

    16 

     

    

 

15.14          Dividends
and Dividend Equivalents. Notwithstanding anything in this Plan to the contrary, the Company shall not pay dividends equivalents with
respect to any unvested Award (including, without limitation Restricted Stock Unit Awards, Performance Share Awards, Performance Unit
Awards or Other Stock-Based Awards) nor shall it pay dividend equivalents on Incentive Stock Options, Nonqualified Stock Options or Stock
Appreciation Rights, whether vested or unvested. A Restricted Stock Award may provide that any dividends which would otherwise be payable
on Restricted Stock shall accrue on such shares of Restricted Stock and shall be payable only upon vesting of the shares subject to the
Restricted Stock Award to which they relate.

 

	16.	Legal Compliance

 

16.1            Securities
Laws. No shares of Common Stock will be issued or transferred pursuant to an Award unless and until all then applicable
requirements imposed by Federal and state securities and other laws, rules and regulations and by any regulatory agencies
having jurisdiction, and by any exchanges upon which the shares of Common Stock may be listed, have been fully met. As a condition
precedent to the issuance of shares pursuant to the grant or exercise of an Award, the Company may require the Participant to take
any reasonable action to meet such requirements. The Committee may impose such conditions on any shares of Common Stock issuable
under the Plan as it may deem advisable, including, without limitation, restrictions under the Securities Act, as amended, under the
requirements of any exchange upon which such shares of the same class are then listed, and under any blue sky or other securities
laws applicable to such shares. The Committee may also require the Participant to represent and warrant at the time of issuance or
transfer that the shares of Common Stock are being acquired only for investment purposes and without any current intention to sell
or distribute such shares. All Common Stock issued pursuant to the terms of this Plan shall constitute “restricted
securities,” as that term is defined in Rule 144 promulgated pursuant to the Securities Act, and may not be transferred
except in compliance herewith and with the registration requirements of the Securities Act or an exemption therefrom. Certificates
representing Common Stock acquired pursuant to an Award may bear such legend as the Company may consider appropriate under the
circumstances.

 

16.2            Incentive
Arrangement. The Plan is designed to provide an on-going, pecuniary incentive for Participants to produce their best efforts to
increase the value of the Company. The Plan is not intended to provide retirement income or to defer the receipt of payments
hereunder to the termination of a Participant’s employment or beyond. The Plan is thus intended not to be a pension or welfare
benefit plan that is subject to Employee Retirement Income Security Act of 1974 (“ERISA”), and shall be construed
accordingly. All interpretations and determinations hereunder shall be made on a basis consistent with the Plan’s status as
not an employee benefit plan subject to ERISA.

 

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

 

16.4            Section 409A
Compliance. To the extent applicable, it is intended that the Plan and all Awards hereunder comply with the requirements of
Section 409A of the Code or an exemption thereto, and the Plan and all Award Agreements shall be interpreted and applied by the
Committee in a manner consistent with this intent in order to avoid the imposition of any additional tax under Section 409A of
the Code. Notwithstanding anything in the Plan or an Award Agreement to the contrary, in the event that any provision of the Plan or
an Award Agreement is determined by the Committee, in its sole discretion, to not comply with the requirements of Section 409A
of the Code or an exemption thereto, the Committee shall, in its sole discretion, have the authority to take such actions and to
make such interpretations or changes to the Plan or an Award Agreement as the Committee deems necessary, regardless of whether such
actions, interpretations, or changes shall adversely affect a Participant, subject to the limitations, if any, of Applicable Law. If
an Award is subject to Section 409A of the Code, any payment made to a Participant who is a “specified employee” of
the Company or any Subsidiary shall not be made before the date that is six months after the Participant’s “separation
from service” to the extent required to avoid the adverse consequences of Section 409A of the Code. For purposes of this
Section 16.4, the terms “separation from service” and “specified employee” shall have the meanings set
forth in Section 409A of the Code. In no event whatsoever shall the Company be liable for any additional tax, interest or
penalties that may be imposed on any Participant by Section 409A of the Code or any damages for failing to comply with
Section 409A of the Code.

 

    17 

     

    

 

		16.5	Tax Withholding.

 

(a)            The
Company shall have the power and the right to deduct or withhold, or require a participant to remit to the Company, the statutory amount
to satisfy federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable
event arising as a result of this Plan, but in no event shall such deduction or withholding or remittance exceed the maximum statutory
withholding requirements unless permitted by the Company and such additional withholding amount will not cause adverse accounting consequences
and is permitted under Applicable Law.

 

(b)            Subject
to such terms and conditions as shall be specified in an Award Agreement, a Participant may, in order to fulfill the withholding obligation
utilize the broker-assisted exercise procedure described in Section 6.5 to satisfy the withholding requirements related to the exercise
of a Stock Option.

 

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

 

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

 

16.8            Stock
Certificates; Book Entry Form. Notwithstanding any provision of the Plan to the contrary, unless otherwise determined by the Committee
or required by any Applicable Law, rule or regulation, any obligation set forth in the Plan pertaining to the delivery or issuance
of stock certificates evidencing shares of Common Stock may be satisfied by having issuance and/or ownership of such shares recorded on
the books and records of the Company (or, as applicable, its transfer agent or stock plan administrator).

 

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

 

	17.	Effective Date, Amendment and Termination

 

17.1            Effective
Date. The effective date of the Plan shall be the date on which the Plan is approved by the requisite percentage of the holders of
the Common Stock of the Company; provided, however, that Awards granted under the Plan subsequent to the approval of the Plan by the Board
shall be valid if such stockholder approval occurs within one year of the date on which such Board approval occurs.

 

17.2            Amendment;
Termination. The Board may suspend or terminate the Plan (or any portion thereof) at any time and may amend the Plan at any time
and from time to time in such respects as the Board may deem advisable or in the best interests of the Company or any Subsidiary;
provided, however, that (a) no such amendment, suspension or termination shall materially and adversely affect the rights of
any Participant under any outstanding Awards, without the consent of such Participant, (b) to the extent necessary and
desirable to comply with any Applicable Law, regulation, or stock exchange rule, the Company shall obtain stockholder approval of
any Plan amendment in such a manner and to such a degree as required, and (c) stockholder approval is required for any
amendment to the Plan that (i) increases the number of shares of Common Stock available for issuance under the Plan,
(ii) changes the persons or class of persons eligible to receive Awards or (iii) reduces or reprices the exercise price of
any Stock Option and/or Stock Appreciation Right or cancels any Stock Option and/or Stock Appreciation Right in exchange for cash or
another Award. For purposes of the foregoing, any action of the Board or the Committee that alters or affects the tax treatment of
any Award shall not be considered to materially impair any rights of any Participant. The Plan will continue in effect until
terminated in accordance with this Section 17.2; provided, however, that no Award will be granted hereunder on or after
the 10th anniversary of the date of the Plan’s initial adoption by the Board (the “Expiration Date”); but
provided further, that Awards granted prior to such Expiration Date may extend beyond that date.

 

    18 

     

    

 

INITIAL BOARD APPROVAL: April 19, 2021

 

INITIAL
STOCKHOLDER APPROVAL: June 17, 2021

 

    19Exhibit 10.2

 

RESTRICTED STOCK AWARD AGREEMENT

 

CELLDEX THERAPEUTICS, INC.

 

This
Restricted Stock Award Agreement (the “Agreement”), dated as of the “Award Date” set forth in the
attached Exhibit A (the “Award Date”), is entered into between Celldex Therapeutics, Inc., a Delaware
corporation (the “Company”), and the individual named in Exhibit A hereto (the “Awardee”).

 

WHEREAS, the Company desires
to provide the Awardee an incentive to participate in the success and growth of the Company through the opportunity to earn a proprietary
interest in the Company; and

 

WHEREAS, to give effect to the
foregoing intention, the Company desires to grant the Awardee a Restricted Stock Award, pursuant to the Celldex Therapeutics, Inc.
2021 Omnibus Equity Incentive Plan (the “Plan”);

 

NOW, THEREFORE, in consideration
of the mutual covenants hereinafter set forth and for good and valuable consideration, the parties hereto agree as follows:

 

1.            Award.
The Company hereby awards the Awardee a Restricted Stock Award for the number of restricted shares of Common Stock (each a “Restricted
Share” and collectively the “Restricted Shares”) set forth in Exhibit A hereto, subject to the
terms and conditions set forth herein and the provisions of the Plan, the terms of which are incorporated herein by reference. Capitalized
terms used but not otherwise defined in this Agreement shall have the meanings as set forth in the Plan.

 

2.             Restrictions
on Sale or Other Transfer. Each Restricted Share awarded to the Awardee pursuant to this Agreement shall be subject to acquisition
by the Company and may not be sold, transferred, assigned or pledged or otherwise be the subject of any disposition during the “Restriction
Period” as defined below. Each Restricted Share shall be held physically or in book entry form with the Company’s transfer
agent until the restrictions set forth above with respect to such Restricted Share lapse in accordance with the provisions of Section 3
or until such Restricted Share is forfeited pursuant to Section 3. Restricted Shares shall be delivered to the Awardee only when
and to the extent that the restrictions set forth in Section 3 with respect to such Restricted Shares lapse.

 

3.            Restriction
Period. The Restricted Shares shall become vested, and the restrictions applicable to the Restricted Shares shall lapse (such period,
the “Restriction Period”) as set forth in Exhibit A. Subject to the terms of this Agreement, the Awardee
shall forfeit the Restricted Shares to the extent that the Awardee does not satisfy the applicable vesting requirements set forth in Exhibit A.

 

4.            Rights
as Shareholder. Except with respect to the restrictions set forth in Section 2 above, upon the issuance to the Awardee of Restricted
Shares hereunder, the Awardee shall have all the rights of a shareholder of Common Stock with respect to such Restricted Shares, including
the right to vote the shares and receive all dividends and other distributions paid or made with respect thereto; provided, however, that
such dividends and other distributions shall be retained by the Company for the Awardee’s account and for delivery to the Awardee,
together with the Restricted Shares as and when said restrictions and conditions shall have been satisfied, expired or lapsed.

 

     

     

    

 

5.            Forfeiture.
Except to the extent otherwise provided in Section 3, upon termination of the Awardee’s Continuous Service with the Company
and its Subsidiaries, any Restricted Shares as to which the Restriction Period has not then lapsed shall (together with any dividends
or distributions paid or declared thereon) be forfeited by Awardee and such Restricted Shares (together with any dividends or distributions
paid or declared thereon) shall thereupon be transferred to the Company at no cost to the Company.

 

6.            Government
Regulations. Notwithstanding anything contained herein to the contrary, the Company’s obligation hereunder to issue or deliver
shares of Common Stock shall be subject to the terms of the Plan, all applicable laws, rules and regulations and to such approvals
by any governmental agencies or national securities exchanges as may be required.

 

7.            Investment
Purpose. The Awardee represents and warrants that unless the Restricted Shares are registered under the Securities Act of 1933, as
amended (the “Securities Act”), any and all shares of Common Stock acquired by the Awardee under this Agreement will
be acquired for investment for the Awardee’s own account and not with a view to, for resale in connection with, or with an intent
of participating directly or indirectly in, any distribution of such shares of Common Stock within the meaning of the Securities Act.
The Awardee agrees not to sell, transfer or otherwise dispose of such shares unless they are either (1) registered under the Securties
Act and all applicable state securities laws, or (2) exempt from such registration in the opinion of Company counsel.

 

8.            Securities
Law Restrictions. Regardless of whether the offering and sale of shares of Restricted Shares pursuant to this Agreement and the Plan
have been registered under the Securities Act, or have been registered or qualified under the securities laws of any state, the Company
at its discretion may impose restrictions upon the sale, pledge or other transfer of such shares of Common Stock (including the placement
of appropriate legends on stock certificates or the imposition of stop-transfer instructions) if, in the judgment of the Company, such
restrictions are necessary in order to achieve compliance with the Securities Act or the securities laws of any state or any other law.

 

9.            Lock-Up
Agreement. The Awardee hereby agrees that in the event that the Restriction Period lapses with respect to any of the Restricted Shares
at a time during which any directors or officers of the Company have agreed with one or more underwriters not to sell securities of the
Company, then Awardee shall enter into an agreement, in form and substance satisfactory to the Company, pursuant to which the Awardee
shall agree to restrictions on transferability of such Restricted Shares, and any Restricted Shares for which the Restriction Period
may lapse during such time, comparable to the restrictions agreed upon by such directors or officers of the Company.

 

    -2-

     

    

 

10.          Withholding
Taxes. The Company shall have the right to require the Awardee to remit to the Company, or to withhold from amounts payable to the
Awardee, as compensation or otherwise, in compliance with the Plan, the statutory amount required to satisfy all federal,
state and local income tax withholding requirements and the Awardee’s share of applicable employment withholding taxes (including,
without limitation, any such income or employment taxes resulting from (i) the expiration of restrictions set forth hereunder that
are applicable to any Restricted Shares or (ii) an election made by the Awardee under Section 83(b) of the Internal Revenue
Code of 1986, as amended, (the “Code”)).

 

11.          Awardee
Representations. The Awardee has reviewed with the Awardee’s own tax advisors the federal, state, local and foreign tax consequences
of the transactions contemplated by this Agreement. The Awardee is relying solely on such advisors, and not on any statements or representations
of the Company or any of its agents, if any, made to the Awardee. The Awardee understands that the Awardee (and not the Company) shall
be responsible for the Awardee’s own liability arising as a result of the transactions contemplated by this Agreement.

 

12.          Section 83(b) Election.
The Awardee hereby acknowledges that the Awardee has been informed that, with respect to the Restricted Shares, the Awardee may file an
election with the Internal Revenue Service, within 30 days of the execution of this Agreement, electing pursuant to Section 83(b) of
the Code to be taxed currently on any difference between the purchase price of the Restricted Shares and their fair market value on the
date of purchase. Absent such an election, taxable income will be measured and recognized by the Awardee at the time or times at which
the forfeiture restrictions on the Restricted Shares lapse. The Awardee is strongly encouraged to seek the advice of his or her own tax
consultant in connection with the issuance of the Restricted Shares and the advisability of filing of the election under Section 83(b) of
the Code. THE AWARDEE ACKNOWLEDGES THAT IT IS NOT THE COMPANY’S RESPONSIBILTY, BUT RATHER IS THE AWARDEE’S SOLE RESPONSIBILITY,
TO FILE THE ELECTION UNDER SECTION 83(b) TIMELY. If the Awardee files an election under Section 83(b) of the Code,
the Awardee shall promptly furnish the Company with a copy of the election. A form of election under Section 83(b) of the Code
is attached hereto as Exhibit B for reference.

 

13.          No
Guarantee of Continued Service. The Awardee acknowledges and agrees that (i) nothing in this Agreement or the Plan confers on
the Awardee any right to continue in an employment, service or consulting relationship with the Company, nor shall it affect in any way
the Awardee’s right or the Company’s right to terminate the Awardee’s employment, service, or consulting relationship
at any time, with or without cause, subject to any employment or service agreement that may have been entered into by the Commpany and
the Awardee; and (ii) the Company would not have granted this Award to the Awardee but for these acknowledgements and agreements.

 

    -3-

     

    

 

14.          Notices.
Notices or communications to be made hereunder shall be in writing and shall be delivered in person, by registered mail, by confirmed
facsimile or by a reputable overnight courier service to the Company at its principal office or to the Awardee at his or her address contained
in the records of the Company. Alternatively, notices and other communications may be provided in the form and manner of such electronic
means as the Company may permit.

 

15.          Entire
Agreement; Governing Law. The Plan is incorporated herein by reference. The Plan and this Award Agreement constitute the entire agreement
of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the
Company and the Awardee with respect to the subject matter hereof, and may not be modified adversely to the Awardee’s interest except
by means of a writing signed by the Company and the Awardee. In the event of any conflict between this Agreement and the Plan, the Plan
shall be controlling. This Agreement shall be construed under the laws of the State of Delaware, without regard to conflict of laws principles.

 

16.          Opportunity
for Review. Awardee and the Company agree that this Award is granted under and governed by the terms and conditions of the Plan and
this Award Agreement. The Awardee has reviewed the Plan and this Award Agreement in their entirety, has had an opportunity to obtain the
advice of counsel prior to accepting this Award Agreement and fully understands all provisions of the Plan and this Award Agreement. The
Awardee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions
relating to the Plan and this Award Agreement. The Awardee further agrees to notify the Company upon any change in Awardee’s residence
address.

 

17.          Binding
Effect. This Agreement shall be binding upon and inure to the benefit of the Company and the Awardee and their respective permitted
successors, assigns, heirs, beneficiaries and representatives.

 

18.          Recoupment.
Notwithstanding anything to the contrary in this Agreement, the shares of Common Stock (“Shares”) issued under this
Agreement, and all amounts that may be received by you in connection with any disposition of any such Shares shall be subject to applicable
recoupment, “clawback” and similar provisions under law, as well as any recoupment, “clawback” and similar policies
of the Company that may be adopted at any time and from time to time in order to comply with the Dodd-Frank Wall Street Reform and Consumer
Protection Act or other applicable law.

 

[Signature Page Follows]

 

    -4-

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date set forth in Exhibit A.

 

	 	CELLDEX THERAPEUTICS, INC.
	 	 
	 	 
	 	By:	                               
	 	 	Name:	                           
	 	 	Title:	 

 

	 	AWARDEE
	 	 
	 	 
	 	 
	 	Name:

 

    -5-

     

    

 

EXHIBIT A

 

CELLDEX THERAPEUTICS, INC.

 

RESTRICTED STOCK AWARD AGREEMENT

 

		(a).	Awardee’s Name:  _______________________________________________________________________

 

		(b).	Award Date:  ________________________________

 

		(c).	Number of Restricted Shares
Granted:  _____________________________

 

		(d).	Restriction Period:

 

_______ (Initials)

		Awardee	

 

_______ (Initials)

Company Signatory

 

    -6-

     

    

 

EXHIBIT B

 

ELECTION UNDER SECTION 83(b) 

OF THE INTERNAL REVENUE CODE OF 1986

 

The undersigned taxpayer hereby makes an election
pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder (the “Regulations”),
and in connection with this election supplies the following information:

 

1.            The
name, address and taxpayer identification number of the undersigned are:

 

[Name] 

[Address] 

Social Security Number: ___-__-____

 

2.            The
election is being made with respect to [________] shares of [common stock] (the “Stock”) of Celldex Therapeutics, Inc.,
a Delaware corporation (the "Company").

 

3.            The
date on which the Stock was transferred to the undersigned was [_______________]. The taxable year for which this election is being made
is calendar year [____].

 

4.           The property is subject to the following restrictions:

 

The above-mentioned shares may not be
transferred and are subject to forfeiture under the terms of an agreement between the taxpayer and the Company. These restrictions lapse
upon the satisfaction of certain conditions contained in such agreement.

 

Disposition of the Stock also may be subject to restrictions
imposed under applicable federal and state securities laws.

 

5.            The
fair market value of the Stock at the time of transfer (determined without regard to any lapse restriction, as defined in §1.83-3(i) of
the Regulations) was $[___________].

 

6.            [The
undersigned did not pay any amount for the Stock. Therefore, $[______] (the full fair market value of the Stock stated above) is includible
in the undersigned's gross income as compensation for services.]

 

7.            A
copy of this election has been furnished to the Company [and to the transferee of the Stock, if different from the taxpayer] as required
by §1.83-2(d) of the Regulations.

 

	Dated:	 	 	 
	 	 	[taxpayer signature]

 

    -7-

     

    

 

INSTRUCTIONS FOR FILING SECTION 83(B) ELECTION

 

Attached is a form of election
under section 83(b) of the Internal Revenue Code. If you wish to make such an election, you should complete, sign and date the election
and then proceed as follows:

 

1. Execute three counterparts of your completed
election (plus one extra counterpart for each person other than you, if any who receives property that is the subject of your election),
retaining at least one photocopy for your records.

 

2. Send one counterpart to the Internal Revenue
Service Center with which you will file your Federal income tax return for the current via certified mail, return receipt requested. THE
ELECTION SHOULD BE SENT IMMEDIATELY, AS YOU ONLY HAVE 30 DAYS FROM THE ISSUANCE/PURCHASE/GRANT DATE WITHIN WHICH TO MAKE THE ELECTION
 – NO WAIVERS, LATE FILINGS OR EXTENSIONS ARE PERMITTED.

 

3. Deliver one counterpart of the completed election
to the Company for its files.

 

4. If anyone other than you (e.g., one of your
family members) will receive property that is the subject of your election, deliver one counterpart of the completed election to each
such person.

 

    -8-

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