Document:

Exhibit
10.09

 

LEASE

 

1440,
Raoul-Charette Street, City of Joliette, Province of Québec, J6E 8S7

 

	BETWEEN:	STRONG/MDI
    SCREEN SYSTEMS INC., legal person, duly incorporated under the laws of the Province of Québec, having its head office
    at 1440, Raoul-Charette Street, City of Joliette, Province of Québec, J6E 8S7, herein acting and represented by Todd Major,
    its Treasurer and Secretary, duly authorized for the purposes hereof as he so declares;

 

(hereinafter
referred to as the “Landlord”)

 

	AND:	STRONG/MDI
    SCREEN SYSTEMS, INC., legal person, duly incorporated under the laws of the Province of British Columbia, having its head office
    at 2300-550 Burrard Street, City of Vancouver, Province of British Columbia, V6C 2B5, herein acting and represented by Mark Roberson,
    its Chief Executive Officer, duly authorized for the purposes hereof as he so declares;

 

(hereinafter
referred to as the “Tenant”)

 

WHEREAS
the Landlord manufactures premium projection screens and customized screen support systems at the Premises for the entertainment
industry (the “Entertainment Business”);

 

WHEREAS
the Tenant is currently a wholly owned subsidiary of the Landlord;

 

WHEREAS
Strong Global Entertainment Inc., legal person, duly incorporated under the laws of the Province of British Columbia (“Strong
Global”), and a wholly owned subsidiary of the Landlord, intends to complete an initial public offering of its common shares
and list its common shares on the New York Stock Exchange American (the “IPO”);

 

WHEREAS
in connection with the IPO, Strong Global, the Landlord and the Tenant will enter into certain agreements, including a Master Asset
Purchase Agreement (as defined below) and this Agreement, pursuant to which, among other matters, effective on completion of the IPO,
the Tenant will become a wholly-owned subsidiary of Strong Global; and

 

WHEREAS
in connection with the transfer of all of the Landlord’s assets that are used in connection with the Entertainment Business
to the Tenant under the Master Asset Purchase Agreement, the Tenant wishes to lease from the Landlord, and the Landlord wishes to lease
to the Tenant, the Premises in accordance with, and subject to, the terms and conditions hereinafter set forth;

 

    	 

    	 

     

THEREFORE
THE PARTIES HERETO AGREE AS FOLLOWS:

 

	1.	DEFINITIONS
    AND SCHEDULES

 

	1.1	Definitions

 

In
this lease and the Schedules attached hereto (collectively, the “Lease”), the following expressions shall have the
following meanings, unless the context requires otherwise:

 

	a)	“Additional
    Rent”: all amounts due by the Tenant to the Landlord in virtue of this Lease, save and except for the Base Rent;
	 	 
	b)	“Applicable
    Laws” means all statutes, laws, by-laws, ordinances, codes, rules, regulations, standards, orders, requirements, notices,
    guidelines, guidance notes, policies, directives and recommendations now or at any time in effect, made or issued by any local, municipal,
    provincial or federal government or by any department, agency, board or office thereof or by any board or fire insurance indemnifiers
    or any other authority having jurisdiction;
	 	 
	c)	“Base
    Rent”: the following annual base rent for the following periods payable by the Tenant to the Landlord pursuant to the provisions
    of this Lease;

 

	 	i)	For
    the first five (5) years of the Term: four hundred fifteen thousand US dollars (US$415,000.00) per annum, being thirty-four
    thousand five hundred eighty-three US dollars and thirty-three cents (US$34,583.33) per month;
	 	 	 
	 	ii)	For
    each subsequent year of the Term: the Base Rent shall be increased, on a cumulative basis, by one and five tenth percent (1.5%)
    on each anniversary date of the Commencement Date, starting as of the fifth (5th) anniversary date of the Commencement
    Date, the Base Rent being in the following amounts, for the following periods:

 

	Sixth
    (6th) year of the Term		US$
	421,225.00	 
	Seventh
    (7th) year of the Term	 	US$
	427,543.38	 
	Eighth
    (8th) year of the Term	 	US$
	433,956.53	 
	Ninth
    (9th) year of the Term 	 	US$
	440,465.88	 
	Tenth
    (10th) year of the Term	 	US$
	447,072.87	 
	Eleventh
    (11th) year of the Term	 	US$
	453,778.96	 
	Twelfth
    (12th) year of the Term	 	US$
	460,585.64	 
	Thirteenth
    (13th) year of the Term 	 	US$	467,494.42	 
	Fourteenth
    (14th) year of the Term	 	US$	474,506.84	 
	Fifteenth
    (15th) year of the Term	 	US$	481,624.44	 

 

    	-2-

    	 

     

For
clarity, the Base Rent is not determined based on the Rentable Area, and any change in the Rentable Area, by expansion of the Premises
or otherwise, shall not increase the Base Rent payable by the Tenant hereunder.

 

	d)	“Building”:
    the building bearing civic address 1440 Raoul-Charette, City of Joliette, Province of Québec, and all constructions, additions,
    improvements and modifications and additions made thereto, from time to time;
	 	 
	e)	“Building
    Systems” means all of the systems serving the Premises including, without limitation, the HVAC System, the sprinkler system,
    the fire alarm and security systems, and the mechanical, electrical, plumbing systems of the Building, and the components and equipment
    thereof, as well as the public utility conduits, wires, pipes or ducts and any element of any utility services infrastructure leading
    up to the interior of the Building (underground or otherwise);
	 	 
	f)	“Civil
    Code of Québec”: the Civil Code of Québec, CQLR c CCQ-1991, as same may be replaced, supplemented,
    amended or otherwise modified from time to time;
	 	 
	g)	“Code
    of Civil Procedure”: the Code of Civil Procedure, CQLR c C. 25.01, as same may be replaced, supplemented, amended
    or otherwise modified from time to time;
	 	 
	h)	“Contaminant”:
    means any contaminant, pollutant, material, chemical, condition (which includes, but is not limited to, odour, smoke, radiation or
    other energy), substance or waste that is defined, listed or classified as hazardous or harmful by applicable environmental, health
    and safety legislation, or that is prohibited, controlled or regulated by such legislation because of its actual or potential hazardous
    or harmful properties, i.e., it is flammable, corrosive, reactive, radioactive, carcinogenic or toxic. Without limiting the generality
    of the foregoing, the term “Contaminant” includes petroleum products, metals, asbestos, PCBs and waste oils;

 

	i)	“Commencement
    Date”: means the closing date of the IPO;
	 	 
	j)	“Damage”:
    has the meaning assigned to it in Section 9;
	 	 
	k)	“Environmental
    Laws” means all Applicable Laws regulating, relating to or imposing liability or standard of conduct concerning the natural
    or human environment (including air, land, surface water, groundwater and real and personal, moveable and immoveable property), public
    or occupational health and safety or the manufacture, importation, handling, use, reuse, recycling, transportation, storage, disposal,
    elimination or treatment of a Contaminant or otherwise. For purposes hereof, “Environmental Laws” shall also include
    any consent, authorization, licence, agreement or permit held by the Tenant relating to the discharge of any Contaminant at or from
    the Premises;
	 	 
	l)	“Event
    of Default”: has the meaning ascribed to it under Section 11.1;
	 	 
	m)	“Fair
                                            Market Rent”: the then applicable fair market rate per annum at which a tenant
                                            and a landlord would agree to enter into a lease (and not subleases) for premises similar
                                            to the Premises located in a building similar to the Building, in the City of Joliette, for
                                            a term similar to the remainder of the Term;

	 	 
	n)	“HVAC
    System”: means the heating, ventilation and air conditioning system serving the Building;
	 	 
	o)	“Land”:
    the immovable known and designated as lot number THREE MILLION THREE HUNDRED TWENTY-SIX THOUSAND EIGHT HUNDRED FIFTY-FIVE (3 326
    855) of the Cadastre of Québec, Registration Division of Joliette, as such may be renovated or otherwise modified, from time
    to time;

 

    	-3-

    	 

     

	p)	“Leasehold
    Improvements” has the meaning ascribed to it under Section 6.2;
	 	 
	q)	“Permitted
    Use”: any and all lawful uses in connection with the Tenant’s business;
	 	 
	r)	“Premises”:
    collectively, the Building and the Land;
	 	 
	s)	“Real
    Estate Taxes”: all of the real estate taxes, surtaxes, impositions or charges levied, assessed or imposed on, in respect
    of or against the Premises, or against the Tenant, the Landlord or owner of the Premises, whether general or special, whether or
    not said taxes are determined in accordance with the category to which the Premises belong, by the authorities having competent jurisdiction,
    including, without limitation, school taxes, municipal property taxes, business taxes, water taxes, parking taxes, carbon taxes or
    any similar taxes, taxes similar to the former taxes on capital, large corporations taxes, and any expense incurred by the Landlord
    or the Tenant (including experts’ fees and judicial and extrajudicial fees and disbursements) to obtain or to attempt to obtain
    any reduction of such taxes (whether or not successful). If the taxation system is altered during the Term, any new tax imposed in
    respect of the Premises or against the Tenant, the Landlord or owners of the Premises shall be included in the definition of “Real
    Estate Taxes”;
	 	 
	t)	“Rent”:
    collectively the Base Rent and the Additional Rent;
	 	 
	u)	“Rentable
    Area” means the rentable area of the Building, as measured by the Landlord from time to time in accordance with the measurement
    method determined by the Landlord. As of the date of the Lease, the Rentable Area is deemed to be, for all legal purposes, seventy-nine
    thousand three hundred eighty (79,380) square feet;
	 	 
	v)	“Structure”:
    means the structural elements of the Building, including without limitation, the parking area (including the parking area’s
    pavement), foundations, structural subfloors, footings, exterior walls and load-bearing walls, structural columns, structural steel,
    roof structure inclusive of roof decking of any type and the roof membrane and beams and floor slabs;
	 	 
	w)	“Tenant’s
    Representatives” means collectively the directors, employees, representatives, officers, agents, assigns, contractors,
    subcontractors, visitors, customers or invitees of the Tenant or any person for whom the Tenant is responsible or to whom the Tenant
    permits access to the Premises; and
	 	 
	x)	“Term”:
    means the initial term of this Lease, being fifteen (15) years commencing on the Commencement Date and expiring fifteen (15) years
    therefrom, unless the Lease is terminated earlier pursuant to the provisions hereof or by law. In the event that the Tenant is granted
    one or more extension or renewal options and such options are validly exercised by the Tenant in accordance with the provisions of
    the Lease, the Term shall include any extension or renewal period, if any. In the event the provisions of Section 4.c) of Schedule
    “A” apply, the Term shall also include the Extended Term.

 

	1.2	Schedule

 

Schedule
“A” (Special Conditions) shall form part of this Lease as if recited herein at length.

 

    	-4-

    	 

     

	2.	LEASE,
    CONDITION OF THE PREMISES AND TERM

 

	2.1	Lease
    of the Premises

 

The
Landlord hereby leases the Premises to the Tenant and the Tenant hereby leases the Premises from the Landlord for the Term, the whole
in accordance with the terms and conditions set forth in this Lease.

 

	2.2	Condition
    of the Premises

 

The
Tenant acknowledges having visited and examined the Premises before the taking possession thereof, declares to be satisfied therewith
and accepts the Premises “as is” in their state and condition existing on the Commencement Date; the Tenant waives all legal
warranties relating thereto. All modifications, alterations and improvements to the Premises shall be the Tenant’s responsibility,
and shall be performed at the Tenant’s cost and in compliance with Section 6.2; Landlord having no work to perform to the Premises.

 

	2.3	Triple
    Net Lease

 

The
Tenant acknowledges and agrees that it is intended that this Lease and the Rent payable hereunder are completely net and carefree to
the Landlord. The Landlord shall not be liable for any costs, charges, expenses or disbursements of any nature whatsoever in respect
of the Premises other than those expressly stated herein to be the responsibility of the Landlord and, in the absence of an express statement
herein, all such costs, charges, expenses or disbursements shall be borne by the Tenant.

 

	3.	RENT
    AND OTHER COSTS

 

	3.1	Base
    Rent

 

From
the Commencement Date and throughout the Term, the Tenant shall pay to the Landlord the Base Rent in equal consecutive monthly instalments,
in advance on the first (1st) day of each calendar month during the Term.

 

	3.2	Additional
    Rent

 

From
the Commencement Date and throughout the Term, Tenant shall pay directly to the competent authorities, when due, all Real Estate Taxes.

 

The
Tenant shall be responsible for any interest or penalty imposed, levied or charged by competent authorities due to the Tenant’s
failure to pay any Real Estate Taxes when due. Such interest or penalty shall be paid by the Tenant directly to the competent authorities
upon receipt by the Tenant of an invoice or demand to that effect.

 

	3.3	Prorations
    on a Daily Basis

 

If
the Commencement Date does not start on the first day of a calendar month or if the Term does not end on the last day of a calendar month,
then amounts of Rent payable on a monthly basis shall be prorated on a per diem basis based on a 365 day year. For clarity, any amount
payable on account of Real Estate Taxes attributable to periods prior to the Commencement Date or after the expiry of the Term shall
be payable by the Landlord.

 

    	-5-

    	 

     

	3.4	Utilities
    and Other Costs

 

The
cost of utilities serving the Premises including, without limitation, water, gas, electricity and sewerage services, is payable by the
Tenant directly to the respective providers of the service in question.

 

The
Tenant shall pay directly to the competent authority all taxes, costs and charges personal to Tenant or imposed by such authority by
reason of the Tenant’s use, occupancy or lease of the Premises or the operation of Tenant’s business therein or therefrom,
such as business taxes, all to the full exemption of the Landlord.

 

If,
after the execution of this Lease, any fees or costs for which the Tenant is responsible under this Section are charged to the Landlord
or become payable by the Landlord, the Landlord shall be entitled to pay such fees or costs and the Tenant shall reimburse the Landlord
for such fees or costs, together with interest calculated on any overdue amounts, upon demand together with supporting documentation.

 

At
the request of the Landlord, the Tenant shall provide the Landlord with receipts and proof of payment demonstrating that all such fees
and costs payable by the Tenant have been duly paid.

 

	4.	PAYMENT
    OF RENT

 

	4.1	GST
    and QST

 

The
Tenant shall pay the goods and services tax (GST), the Québec sales tax (QST) and all other applicable taxes on all amounts payable
hereunder, as applicable. In the event the Tenant fails to pay any applicable GST, QST or any other applicable tax, the Landlord shall
have all the same rights and remedies in respect of recovery of same as those available to recover the Rent payable under the Lease.

 

	4.2	Payment
    without Demand

 

The
Tenant shall pay to the Landlord the Base Rent, the Additional Rent, and any other amounts payable hereunder, without prior request,
at the Landlord’s address indicated on the first page, or any other place in Canada designated in writing, from time to time, by
the Landlord.

 

	4.3	Payment
    without Deduction, Withholding or Compensation

 

Notwithstanding
any provision of the Civil Code of Québec or any other law, the Tenant shall pay the Rent to the Landlord without any withholding,
compensation, deduction, reduction or abatement of any kind whatsoever for any reason whatsoever including, without limitation, the Landlord’s
failure to perform its obligations under the Lease.

 

	4.4	Interest

 

All
unpaid amounts shall bear interest. Interest shall be calculated daily, from the date on which such amounts became payable until the
date on which the amounts are duly paid by the Tenant, at an annual interest rate equal to the prime rate charged by the Landlord’s
lender, plus four percent (4%).

 

    	-6-

    	 

     

	4.5	Currency

 

All
amounts payable by the Tenant to the Landlord hereunder shall be payable in U.S. currency. 

 

	4.6	Landlord’s
    Right and Recourses and Imputation of Payments

 

All
amounts payable by the Tenant to the Landlord under the Lease shall be deemed for all legal purposes, to be Rent, whether or not qualified
as Rent or as Additional Rent. In case of default by the Tenant to pay any amount due to the Landlord, the latter may exercise all remedies
to recover these amounts as if they were Rent. The Tenant’s obligation to pay the amounts due under the Lease will survive the
end of the Lease. Any amount received and accepted by the Landlord and paid for by a person other than the Tenant but for its account
shall not release or affect in any way the Tenant’s obligations under the Lease, except to reduce the amounts due and payable by
the Tenant to the Landlord under the Lease, which payments will be charged at the sole discretion of the Landlord, notwithstanding any
direction for payment by the Tenant or any such third party.

 

	5.	USE
    AND OPERATIONS

 

	5.1	Permitted
    Use

 

The
Premises shall be used for the Permitted Use.

 

	5.2	Permits
    and Authorizations

 

The
Tenant, at its cost, shall be solely responsible for obtaining and maintaining, from all competent authorities, all permits, licences
and approvals as may be required by law to permit the Tenant to hold this Lease, to occupy the Premises as they are and to conduct its
business thereon in accordance with the Permitted Use. The Landlord makes no representation and offers no warranties that the Premises
can be used for the Permitted Use. Nothing herein shall be so interpreted as to imply that this Lease is conditional upon the Tenant
obtaining any permits, licences or approvals for the Permitted Use.

 

	5.3	Lawfulness
    and Diligence

 

The
Tenant, at its cost, shall comply with the requirements of all Applicable Laws relating to the Premises or their use, occupation, repair,
replacement or alteration, and also with the requirements of any insurer of the Landlord or the Tenant.

 

	6.	MAINTENANCE,
    REPAIR, REPLACEMENT AND LEASEHOLD IMPROVEMENTS

 

	6.1	Maintenance,
    Repair and Replacement of the Premises

 

Notwithstanding
any provisions of the Civil Code of Québec or any other legislation to the contrary including, without limitation, Article
1864 of the Civil Code of Québec, the Tenant, at its cost, is solely responsible for cleaning, maintaining, repairing and
replacing the Premises (including, without limitation, the Building Systems and Structure), any component thereof, and any improvements
(including, without limitation, the Leasehold Improvements), movables, equipment, apparatus, fixtures, accessories and signs located
therein or thereon, in order to keep them at all times in first-class working order and appearance as a prudent and diligent owner would
do, to a standard and quality consistent with a first-class industrial building of the same size, age and location, the whole in compliance
with the provisions of Section 6.2.

 

    	-7-

    	 

     

Without
limiting the generality of the foregoing, the Tenant’s obligations under this Section include the following, all of which are at
the Tenant’s cost:

 

	a)	perform
    even those repairs and replacements that could be qualified as major repairs and replacements;
	 	 
	b)	perform
    all repairs, replacements, alterations, additions or improvements to the Premises that are required by the Tenant or the Landlord’s
    insurers, by competent authorities or by applicable law;
	 	 
	c)	exterior
    and interior cleaning of windows, which shall be done as often as necessary to maintain the appearance of the Premises as a first-class
    building;
	 	 
	d)	clean,
    maintain, repair and replace the garage doors and loading dock levellers, if any, the exterior and interior doors, the walls, the
    floors and the ceilings;
	 	 
	e)	clean,
    maintain, repair and replace the space used for garbage and recyclable material disposal and the garbage and recyclable material
    compactors and containers;
	 	 
	f)	dispose
    of its waste and recyclable material through the city’s garbage and recyclable material collectors or, if the waste or recyclable
    material cannot be disposed of through the city’s collection service under applicable law, dispose of its waste and recyclable
    material at the appropriate collection facilities, on a regular basis or at such intervals determined by the Landlord from time to
    time, in its sole discretion;
	 	 
	g)	remove
    snow and ice from the Premises including from the roof of the Building;
	 	 
	h)	landscaping;
    and

 

	i)	maintain
    in force, at all times, with reputable contractors acceptable to the Landlord, contracts for the maintenance of the HVAC System and
    the fire suppression systems and extinguishers, and any other equipment used by the Tenant in the conduct of its business which require
    regular maintenance. The Tenant shall provide to the Landlord, upon demand, a copy of said contracts and evidence that services have
    been provided.

 

	6.2	Leasehold
    Improvements

 

Prior
to performing any modifications, alterations and improvements to the Premises (the “Leasehold Improvements”), the
Tenant shall obtain the Landlord’s prior written approval therefor and provide the Landlord with the plans and specifications and
all other documents which are relevant or which the Landlord may require with respect to the Leasehold Improvements.

 

The
work shall be carried out by the Tenant, at its cost, in a good, skilled, expeditious and diligent manner, in accordance with (i) the
plans and specifications approved by the Landlord, (ii) the requirements of the Landlord’s insurers and any competent authority,
(iii) the then current standard for the Building, and (iv) any conditions attached to the Landlord’s consent.

 

    	-8-

    	 

     

The
Tenant acknowledges that all work performed by it shall be for its own benefit and not for the benefit of the Landlord. Under no circumstances
shall the Tenant be considered to be performing the work on behalf of the Landlord, including as the mandatary or contractor of the Landlord.
All Leasehold Improvements, when completed, shall form part of the Premises, become the property of the Landlord as of their completion,
without compensation being due to the Tenant therefor, and the Tenant shall not be allowed to remove any Leasehold Improvement without
the Landlord’s prior written consent.

 

	6.3	Legal
    Hypothec

 

If
the Tenant performs any Leasehold Improvements, the Tenant shall promptly pay each of the persons involved in the work. If one of these
persons publishes a legal hypothec against the Premises, the Tenant shall immediately obtain the cancellation thereof. The Tenant shall
be responsible for all losses, damages, costs, suits, claims and actions (including experts’ costs and judicial and extrajudicial
fees and disbursements) arising directly or indirectly from the publication of any hypothec. If, upon the Landlord’s written demand,
the Tenant fails to obtain the discharge of any legal hypothec within fifteen (15) days of its receipt of the Landlord’s notice
to that effect, the Landlord shall have the right to cancel the legal hypothec by paying to the creditor the amounts claimed or by any
other recourse permitted by law. The Tenant shall reimburse the Landlord, upon demand together with supporting documentation, as Additional
Rent, all amounts paid, fees and disbursements (including experts’ costs and judicial and extrajudicial fees and disbursements),
incurred by the Landlord to have the legal hypothec discharged, plus an administration fee of fifteen percent (15%) of all such costs.

 

	7.	ENVIRONMENT

 

Upon
demand to that effect, the Tenant shall provide the Landlord with all information relating to its compliance with Environmental Laws.

 

In
the event of any contamination in excess of the thresholds permitted by the Environmental Laws (a “Contamination”)
the following provisions apply:

 

	a)	If
    the Contamination is caused by the Tenant or the Tenant’s Representatives, the Tenant, upon receipt of written notice from
    the Landlord to that effect, shall, at its cost, diligently and promptly perform all necessary investigations, characterizations
    and rehabilitation work required by competent authorities to bring the Premises and the environment into compliance with the Environmental
    Laws or, if the Contamination is not entirely caused by the Tenant or the Tenant’s Representatives, to the extent necessary
    to remove the Contamination caused or aggravated by the Tenant or the Tenant’s Representatives, but excluding any Contamination
    not caused by the Tenant, existing prior to the Commencement Date or caused by migration.

 

The
scope of the work and the selection of the firms mandated to perform the work shall be determined in consultation with the Landlord.

 

The
results of any investigation, characterization or rehabilitation work shall be communicated only to the Landlord and shall not be communicated
to any other person except with the Landlord’s prior written consent.

 

    	-9-

    	 

     

All
costs and fees in connection with the rehabilitation of the Premises for which the Tenant is responsible hereunder and incurred by the
Landlord shall be reimbursed to the Landlord by the Tenant within sixty (60) days of receipt by the Tenant of an invoice therefor together
with supporting documentation.

 

	b)	If
    the Contamination is not caused by the Tenant or the Tenant’s Representatives, the Landlord, at its cost, shall diligently
    and promptly perform all necessary investigations, characterizations and rehabilitation work required by competent authorities to
    bring the Premises and the environment into compliance with the Environmental Laws.

 

The
supervision and performance of the work shall be done in consultation with the Tenant in such a manner as to cause the least possible
interference with the Tenant’s operations on the Premises.

 

The
Landlord shall indemnify and hold the Tenant and any person for whom the Tenant is legally responsible harmless from any and all Claims
arising out of or relating to the presence of Contamination on the Premises.

 

Any
investigations, characterizations and rehabilitation work required to be performed by either party pursuant to the provisions of this
Section shall be performed in accordance with all Applicable Laws (including Environmental Laws), the contaminated land rehabilitation
policy and any other requirement of competent authorities.

 

The
Landlord shall have the right to conduct environmental audits as it deems necessary to ensure compliance with this Section and costs
of such audits shall be payable by the Tenant, as Additional Rent, upon receipt of an invoice therefor together with supporting documentation.

 

The
Tenant’s obligations under this Section remain in force notwithstanding the expiry of the Term or premature termination of the
Lease.

 

	8.	LANDLORD’S
    RIGHT OF ENTRY

 

The
Landlord shall, at all times and upon giving a prior written notice of forty-eight (48) hours to the Tenant with a representative of
the Tenant present, be entitled to enter upon the Premises in order to inspect them and show them to potential lenders, purchasers, tenants
or other interested parties.

 

	9.	TENANT’S
    INSURANCE

 

Throughout
the Term, the Tenant, at its cost, shall take out and maintain the following insurance coverage:

 

	a)	comprehensive
    general liability insurance covering the liability of the Tenant and Tenant’s Representatives with respect to the business
    carried on, in or from the Premises and the use and occupancy thereof for bodily injuries, including death, and property damage caused
    to third parties, which insurance shall have a minimum coverage of eight million five hundred thousand US dollars (US $8,500,000.00)
    per occurrence. The said insurance shall contain a cross-liability provision as well as a provision pursuant whereto the insurer
    agrees to cover the liability assumed by its insured pursuant to contractual provisions;

 

    	-10-

    	 

     

	b)	all
    risks insurance including the perils of fire, extended coverage, leakage from sprinkler, roof, or plumbing, and other fire protective
    devices, earthquake, collapse and flood with a limit at least equal to the replacement value (without depreciation), in each case,
    of the Building, furniture, equipment, inventory and stock in trade, fixtures and Leasehold Improvements located within the Premises
    and such other property located in or forming part of the Premises, including all mechanical or electrical systems (or portions thereof)
    installed by the Tenant in the Premises, the whole for the full replacement cost (without depreciation) in each such instance, as
    well as business interruption insurance covering a period of at least twelve (12) months;
	 	 
	c)	boiler
    and machinery insurance; and
	 	 
	d)	all
    other insurance or coverage limit which the Landlord may reasonably require from time to time.

 

The
above-mentioned insurance policies shall comply with the following provisions:

 

	a)	designate
    the Landlord as a named insured, and the hypothecary creditors of the Tenant and of the Landlord as additional insureds to the extent
    of their respective interests; all property insurance coverages shall contain the standard mortgagee clause;
	 	 
	b)	be
    in a form which is acceptable to the Landlord and shall be taken out with authorized insurers who are reputably solvent and have
    a place of business in the Province of Québec; and
	 	 
	c)	stipulate
    that the insurance may not be resiliated or modified without the insurer giving the insureds a prior notice of thirty (30) days to
    that effect.

 

No
less than ten (10) days prior to the Commencement Date and at least ten (10) days before the renewal of any insurance policy, the Tenant
shall provide the Landlord with a certificate of insurance duly signed by an authorized representative of the insurer, which certificate
shall confirm the insurance which has been subscribed.

 

	10.	DAMAGE
    AND DESTRUCTION

 

If
all or any part of the Premises is destroyed or damaged by fire, lightning or storm, or by any other casualty (a “Damage”),
the Landlord may, at its option, terminate the Lease by giving the Tenant a written notice thereof, in which case the Lease shall be
terminated as of the date of the Damage and the Rent shall be adjusted and paid in full as of the date of the occurrence of the Damage;
in the event that the Landlord does not terminate the Lease, the Landlord shall repair the Premises with reasonable diligence, and the
Rent shall be reduced from the date of the occurrence of the Damage in proportion to the portion of the Premises rendered unusable until
such time as they are repaired so as to permit the Tenant to use and occupy the Premises.

 

	11.	ASSIGNMENT
    OF LEASE AND SUBLETTING OF THE PREMISES

 

The
Tenant shall not have the right to sublease the Premises, in totality or in part, or assign the Lease, without the Landlord’s prior
written consent.

 

    	-11-

    	 

     

In
the event of any assignment of the Lease, the Tenant shall remain solidarily liable with the assignee of all the obligations of the Tenant
hereunder for the remainder of the Term.

 

	12.	ESTOPPEL
    CERTIFICATE AND ASSIGNMENT BY THE LANDLORD

 

	12.1	Estoppel
    Certificate

 

Within
five (5) days of a request to that effect, the Tenant shall execute and deliver to the Landlord or any party owning or about to hold
an interest in all or only part of the Premises, a declaration or estoppel certificate (as requested by the Landlord) showing that the
Lease is in effect, indicating any changes to the Lease, specifying the dates of commencement and termination of the Lease, the date
until which the rents were paid, the amount, if any, of any rent paid in advance or deposit held by Landlord, an indication of any defects
that may exist, if any, and details of these and any other information reasonably required by the party seeking such declaration or certificate.

 

	12.2	Assignment
    by the Landlord

 

If
the Landlord sells or transfers any portion of the Premises or any interest of the Landlord in the Lease, the Landlord shall be released
from its obligations under the Lease to the extent that the transferee or owner assumes all of the Landlord’s obligations under
the Lease.

 

	13.	DEFAULTS
    AND RECOURSES

 

	13.1	Event
    of Default

 

For
purposes hereof, an “Event of Default” shall mean a default by the Tenant to abide by any of its obligations under
this Lease, including, without limitation, the following events:

 

	a)	if
    the Tenant fails to pay any amount of Rent within fifteen (15) days after receipt of a written notice from the Landlord to that effect;
	 	 
	b)	if
    the Tenant fails to abide by any obligation whatsoever set forth in this Lease (other than an obligation to pay an amount of money)
    and fails to remedy the default within fifteen (15) days after receipt of a written notice from the Landlord to that effect (or such
    longer period as may be necessary to cure the default if the default is not reasonably susceptible of being cured within such fifteen
    (15) day delay provided that the Tenant does commence to cure such default within said fifteen (15) day delay and proceeds to cure
    same with due diligence);
	 	 
	c)	if
    property of the Tenant located in the Premises is seized or sold pursuant to a writ of execution;
	 	 
	d)	if
    the Tenant grants any hypothec whatsoever over all or part of its property, except in favour of the Landlord and its financial institution
    to provide working capital for the operation of its business in the Premises;
	 	 
	e)	if
    the Tenant is insolvent, makes an assignment of its property for the benefit of its creditors, is the subject of a receiving order
    pursuant to the Bankruptcy and Insolvency Act, declares bankruptcy or files a petition to avail itself of the provisions of
    any current or future legislation regarding bankrupt or insolvent debtors;

 

    	-12-

    	 

     

	f)	if
    the Tenant, having filed a petition to avail itself of the provisions of any current or future legislation regarding bankrupt or
    insolvent debtors, fails to comply with any judgment or order issued pursuant to such legislation;
	 	 
	g)	if
    the Tenant assigns all or part of the Lease or leases all or part of the Premises other than as provided herein; or
	 	 
	h)	if
    the Tenant abandons the Premises or removes its property therefrom.

 

	13.2	Consequence
    of an Event of Default

 

If
an Event of Default occurs, the Landlord shall have the right to resiliate the Lease upon sending a written notice to the Tenant to that
effect (the “Resiliation Notice”), the whole without prejudice to its other rights and recourses in the circumstances,
without payment or reimbursement to the Tenant of any kind or for any reason whatsoever, and without any right or remedy of the Tenant
against the Landlord in connection with the Landlord’s exercise of such right; the Tenant waiving any rights and remedies it may
have against the Landlord in this regard.

 

The
resiliation of the Lease shall take effect on the resiliation date indicate in the Resiliation Notice (the “Resiliation Date”),
without the need for any further notice or legal proceedings, unless the Tenant has cured the Event of Default prior to the Resiliation
Date.

 

	13.3	Performance
    by the Landlord

 

If
an Event of Default on the part of the Tenant (other than a failure to pay an amount of money) continues for a period of five (5) consecutive
days after the Tenant has received a notice from the Landlord demanding that the Tenant remedy the Event of Default, or, even without
a notice, if the Landlord is of the reasonably held opinion that the situation is an emergency, the Landlord shall be entitled to remedy
the default itself, without prejudice to its other rights and recourses in the circumstances, and, in such a case, the Tenant shall be
required, upon demand, to pay the costs (including any judicial and extrajudicial fees) incurred by the Landlord in that regard, as well
as administration fees equal to fifteen percent (15%) of the costs so incurred.

 

	13.4	Renunciation

 

The
Tenant may not avoid the resiliation of the Lease by any means notwithstanding any law or custom to the contrary.

 

Moreover,
the Tenant hereby expressly waives, to the full extent permitted by law, the benefit of the provisions of Articles 1432, 1854, 1858,
1859, 1861, 1863, 1867, 1868, 1869, 1871 (second paragraph), 1873, 1881 and 1883 of the Civil Code of Québec.

 

	14.	LIMITATION
    OF THE LANDLORD’S LIABILITY

 

The
Landlord shall not be liable nor responsible in any way, to the full extent permitted by law, for any injury of any nature whatsoever
that may be suffered or sustained by the Tenant or the Tenant’s Representatives, or for any loss of or damages to any property
belonging to the Tenant or to Tenant’s Representatives while such property is on the Premises.

 

    	-13-

    	 

     

The
Landlord shall not be liable nor responsible in any way, to the full extent permitted by law, for any disturbances to the Tenant’s
peaceful enjoyment of the Premises from any third party, including without limitation, due to publics works, public orders or neighbors.

 

	15.	INDEMNIFICATION

 

The
Tenant shall indemnify and hold harmless the Landlord and its hypothecary creditors, directors, employees, representatives, officers,
mandataries, assigns, contractors, subcontractors, visitors, customers, invitees against all losses, damages, injury (including death),
costs, suits, demands, claims or actions (including experts’ costs and judicial and extrajudicial fees and disbursements) arising
directly or indirectly from (i) a fault on the part of the Tenant or one of the Tenant’s Representatives, (ii) property in their
custody, (iii) the use or occupancy of the Premises, (iv) the contamination of the Premises or the environment if such contamination
is caused by the Tenant or a Tenant’s Representative, or (v) any other event having occurred in the Premises and directly or indirectly
related to Tenant’s use or occupation thereof.

 

The
Tenant shall also be responsible for all costs and expenses (including experts’ costs and reasonable judicial and extrajudicial
fees and disbursements) that may be incurred by the Landlord, or on its behalf, in enforcing the terms and covenants of this Lease, unless
otherwise ordered by the court.

 

The
provisions of this Section shall survive the expiry or earlier termination of the Lease.

 

	16.	TERMINATION
    OF THE LEASE

 

	16.1	Restoration
    of the Premises at the end of the Lease

 

Upon
the expiry or earlier termination of this Lease, the Tenant, at its cost, shall deliver to the Landlord vacant possession of the Premises
in the state and condition in which the Tenant is required to maintain same in virtue of this Lease (excepting only reasonable wear and
tear), and shall remove therefrom its movable personal property, its trade fixtures and signs, and repair any damage caused to the Premises
by the installation or removal thereof, to the entire satisfaction of the Landlord.

 

The
Tenant shall not have the obligation to remove its Leasehold Improvements and shall not have the right to remove same without obtaining
the Landlord’s prior written consent as such Leasehold Improvements become the property of the Landlord upon their installation.

 

All
property belonging to the Tenant or any other person left in the Premises at the end of the Lease will be deemed abandoned, and the Landlord
shall dispose of such property, at its entire discretion and at the Tenant’s costs plus an administration fee of fifteen percent
(15%) of said costs, without any compensation being due to the Tenant or any other person therefor.

 

	16.2	No
    Tacit Renewal

 

Notwithstanding
Article 1879 of the Civil Code of Québec, if the Tenant remains in possession of the Premises after the end of the Term
without having executed a new lease, such occupation shall not constitute a tacit renewal of the Lease, and at the sole discretion of
the Landlord, the Tenant shall be deemed to occupy the Premises on the basis of a month-to-month lease, at a monthly rental rate, payable
in advance on the first day of each calendar month, equal to the aggregate of (i) two (2) times the Base Rent payable for the last month
of the Term, and (ii) one twelfth (1/12) of the Real Estate Taxes payable by the Tenant for the last year of the Term, and on the same
terms and conditions of the Lease, as are applicable to a monthly lease.

 

    	-14-

    	 

     

	17.	NOTICES

 

All
notices, requests, approvals, undertakings and consents which are permitted or required (the “Notices”) shall be made
in writing and be delivered in person or sent by registered mail or by email:

 

	a)	To
    the following address as regards the Tenant:

 

The
Premises

 

Attention:
General Manager

 

	b)	To
    the following address as regards the Landlord:

 

4201
Congress Street, Suite 175

Charlotte,
NC 28209

 

Attention:
Todd Major

 

or
to any other address which one party may indicate to the other in writing from time to time.

 

Notices
shall be deemed to have been validly given and received (i) if delivered in person, on the day upon which personal delivery is made,
(ii) if sent by registered mail, on the date of its actual receipt as confirmed by the post office records, and (iii) if sent by email,
on the date the email is sent or, if the email is sent after 5:00 p.m. or on Saturday, Sunday or a holiday (as defined in the Interpretation
Act), on the next business day.

 

	18.	MISCELLANEOUS
    PROVISIONS

 

	18.1	Conditional
    Lease

 

The
Lease is conditional upon the completion of the IPO by no later than December 31, 2022. In the event this condition is not met this Lease
shall ipso facto become null and void and of no further effect, without any rights or recourses whatsoever between the parties
related thereto.

 

	18.2	Amendments

 

This
Lease may be amended only by means of a written instrument executed by the Landlord and the Tenant.

 

	18.3	No
    Waiver

 

The
Landlord shall be deemed to have waived a provision stipulated in its favour unless it has expressly waived the provision in writing.
Any delay or failure by the Landlord to exercise any of its rights or recourses hereunder or at law shall not be interpreted as a waiver
of any kind whatsoever.

 

    	-15-

    	 

     

The
Landlord’s rights and recourses are not restrictive and shall not have the effect of depriving the Landlord from the right to exercise
other rights and recourses stipulated in a provision of the Lease or provided for at law.

 

	18.4	Force
    Majeure

 

If
either party is delayed or prevented or hindered in the performance of any of its obligation set forth herein due to unforeseeable circumstances,
a case of force majeure, strikes, inability to obtain materials, equipment or services, power failure, restrictive laws, regulations,
ministerial orders or decrees (including any law, regulation, ministerial order or decree having the effect of implementing measures
and/or restricting the rights of certain persons in response to an epidemic or pandemic such as the COVID-19 pandemic), riots, insurrection,
acts of terrorism, war, epidemic, pandemic or any other condition or reason which is beyond the control of the relevant party despite
the party’s diligence, the failure to perform the obligation will be tolerated for the period of the delay and the party thus delayed,
prevented or hindered shall execute the obligation in a timely manner after the end of the period of delay. However, the Tenant may not
invoke the provisions of this Section to justify a late payment of Rent, and such delay shall not grant to the Tenant any right to compensation
for any inconvenience or nuisance such circumstance may cause.

 

	18.5	No
    Partnership

 

Nothing
contained in this Lease shall be interpreted as creating any type of association, partnership, joint venture or other type of relationship
between the parties which is not expressly stipulated herein.

 

	18.6	Solidary
    Liability

 

If
the Tenant is comprised of more than one person or corporation, each of them shall be solidarily liable for the performance of the obligations
set forth in this Lease.

 

	18.7	Severability

 

If
any Section or provision of the Lease is judicially recognized invalid, such decision shall not affect the validity of any other Section
or provision of the Lease nor will it affect the validity of the Lease.

 

	18.8	Entire
    Agreement

 

This
Lease, including the schedules, constitutes the entire understanding between the parties with respect to the subject matter hereof. No
representation, warranty, ancillary agreement or condition, other than those set forth herein, shall govern the subject matter of this
Lease.

 

	18.9	Free
    Negotiation

 

The
Tenant acknowledges and declares that it has had the opportunity to consult a legal counsel regarding the negotiation and execution of
this Lease, that all provisions of the Lease have been freely and fully negotiated and that the Lease does not constitute a contract
of adhesion.

 

    	-16-

    	 

     

	18.10	Applicable
    Law

 

This
Lease shall be governed and interpreted in accordance with the laws in effect in the Province of Québec. The courts of the judicial
district in which the Premises are located shall have exclusive jurisdiction to hear any dispute relating to this Lease.

 

	18.11	Brokerage
    Commission

 

The
Tenant represents that it has not retained the services of any agent, broker or other representatives for the conclusion of this Lease.
The Tenant shall indemnify and hold harmless the Landlord from any and all claims from any agent, broker or representative.

 

	18.12	Successors
    and Assigns

 

This
Lease shall be binding upon and enure to the benefit of the parties hereto as well as their respective successors and assigns.

 

	18.13	Registration

 

The
Tenant shall have the right to publish the Lease without the prior written consent of the Landlord, but only by notice of lease pursuant
to Article 2999.1 of the Civil Code of Québec, without reference to any monetary conditions of the Lease. The Tenant shall
pay all fees and costs associated with the preparation, registration and radiation of any such notice of lease.

 

	18.14	Language

 

The
parties hereto have requested that this Lease and all documents relating thereto be drafted in English. Les parties aux présentes
ont exigé que ce bail ainsi que tout document s’y rapportant soient rédigés en anglais.

 

	18.15	Confidentiality

 

The
parties shall keep the terms and conditions of this Lease strictly confidential.

 

	18.16	Time
    of the Essence

 

The
Tenant shall be in default by the mere passage of time charged to it for the performance of an obligation it has undertaken hereunder.

 

	18.17	PDF
    and Counterparts

 

This
Lease may be executed in several counterparts, each of which shall be an original and all such counterparts taken together shall constitute
one and the same instrument. The Lease may be executed in what is commonly referred to as a “PDF” document and each party
is entitled to rely on a “PDF” copy of the Lease duly executed by another party as if it had received an original copy.

 

[Signature
page is on the following page.]

 

    	-17-

    	 

     

IN
VIRTUE WHEREOF, the Landlord has signed in ______________, on ____________, 2022.

 

	 	STRONG/MDI
    SCREEN SYSTEMS INC.
	 	 	 
	 	Per:	 
	 	Name:
    	Todd
    Major
	 	Title:	Treasurer
    and Secretary

 

IN
VIRTUE WHEREOF, the Tenant has signed in ______________, on ____________, 2022.

 

	 	STRONG/MDI
    SCREEN SYSTEMS, INC.
	 	 	 
	 	Per:	 
	 	Name:
    	Mark
    Roberson
	 	Title:	Chief
    Executive Officer

 

    	-18-

    	 

     

SCHEDULE
“A”

SPECIAL
CONDITIONS

 

	1.	SIGNAGE

 

All
signs on the Premises shall be subject to the prior written consent of the Landlord. The Tenant, at its cost, shall be responsible for
obtaining all permits, licences and authorizations from all competent authorities for the installation, maintenance, repair and replacement
of such signs in compliance with all Applicable Laws.

 

	2.	OPTION
    TO RENEW

 

Subject
to the provisions of Section 5 of this Schedule “A”, provided the Lease is in full force and effect, and further provided
the Tenant is STRONG/MDI SCREEN SYSTEMS, INC. itself personally, has not assigned the Lease or the subleased the Premises, or a portion
thereof, and is not then in default of executing its obligations under the Lease, the Tenant shall have five (5) options to renew the
Lease (collectively, the “Options to Renew”, and each, an “Option to Renew”) for the Premises and
the Expansion Premises (if any), for further periods of five (5) years each, except for the fifth (5th) and final Option to
Renew which shall be for a period of five (5) years minus one (1) day (each a “Renewal Term”), commencing on the day
immediately following the expiry date of the then current Term. Each Renewal Term shall be on the same terms and conditions as are contained
in the Lease existing on the date immediately preceding the commencement date of the Renewal Term in question, save and except that:

 

	a)	the
    Tenant shall accept the Premises and the Expansion Premises (if any) “as is”, in their state and condition existing on
    the commencement date of the Renewal Term in question, the Tenant hereby renouncing to all legal warranties related thereto; the
    Landlord having no work to perform in the Premises, and all improvements, additions or modifications to the Premises that may be
    required shall be performed by the Tenant, at its cost, in compliance with the provisions of the Lease;
	 	 
	b)	there
    shall be no fixturing period, no allowance, no free rent period, nor any other inducement, free occupancy period or other incentive
    of whatsoever nature;
	 	 
	c)	there
    shall be no further extension of the Term or renewal of the Lease beyond the fifth (5th) Renewal Term, and the Options
    to Renew shall not apply anew; and
	 	 
	d)	the
    Base Rent payable for the Premises (excluding the Expansion Premises, if any, for which no Base Rent is payable) during each Renewal
    Term shall be the Base Rent payable during the last year of the then current Term increased, on a cumulative basis, on each anniversary
    date of the commencement date of the Renewal Term, commencing on said commencement date, by two percent (2%).

 

In
order to validly exercise its Option to Renew, the Tenant shall provide to the Landlord a prior written notice of its exercise thereof
(the “Notice of Renewal”) to be received by the Landlord no earlier than twelve (12) months prior to the expiry date
of the then current Term.

 

If
Tenant fails to validly exercise an Option to Renew, the Tenant shall be deemed, for all legal purposes, to have renounced to exercise
all Options to Renew which have not yet been exercised, and these Options to Renew together with the provisions of this Section shall
ipso facto become null and void and of no further effect, and the Lease shall terminate at the expiry date of the then current
Term, without any rights or recourses whatsoever of the Tenant against the Landlord related thereto.

 

	3.	RIGHT
    OF FIRST REFUSAL TO PURCHASE

 

Provided
the Lease is in full force and effect, and further provided the Tenant is STRONG/MDI SCREEN SYSTEMS, INC. itself personally, has not
assigned the Lease or the subleased the Premises, or a portion thereof, and is not then in default of executing its obligations under
the Lease, the Tenant shall have, throughout the Term, the ongoing right of first refusal (the “RFR”) to purchase
the Premises or the portion thereof (the “RFR Premises”) being offered for purchase under an offer to purchase received
by the Landlord from a bona fide third party (a “Third Party”) which is acceptable to the Landlord or being
offered for sale by the Landlord to a Third Party under an offer to sale which is acceptable to the Third Party (either offer, an “Offer”).

 

Prior
to concluding any transaction with a Third Party, the Landlord shall provide the Tenant with a written notice containing an integral
copy of such Offer together with all related schedules, but without being obliged to reveal the identity of the Third Party.

 

In
order to validly exercise its RFR, the Tenant shall provide to the Landlord a prior written notice of its exercise thereof to be received
by the Landlord no later than shall have fifteen (15) days following its receipt of the integral copy of the Offer.

 

If
the Tenant validly exercises its RFR, it shall purchase the RFR Premises on the terms and conditions stipulated in the Offer in the place
and stead of the Third Party.

 

If
the Tenant fails to validly exercise its RFR within the aforementioned delay or elects not to exercise its RFR, the Tenant shall be deemed,
for all legal purposes, to have renounced to exercise its RFR and the RFR shall become null and void by the mere lapse of time with respect
only to the RFR Premises purchased by a Third Party following the Landlord’s acceptance of the Offer, without any rights or recourses
whatsoever of the Tenant against the Landlord related thereto; the balance of the Premises, if any, shall remain subject to the RFR.

 

    	-19-

    	 

    

 

In
the event the Tenant fails to validly exercise its RFR or elects not to exercise its RFR and thereafter no transaction takes place and
the Offer is terminated for any reason whatsoever, the RFR shall remain in full force and effect and shall continue to apply in favour
of the Tenant with respect to any future Offer.

 

For
clarity, if the Tenant fails to validly exercise its RFR or elects not to exercise its RFR, the Landlord shall not have the right to
conclude the sale of the RFR Premises with the Third Party under terms and conditions that are more favourable than those contained in
the Offer. In the event the terms and conditions of the Offer are renegotiated for any reason whatsoever, prior to concluding such sale
with the Third Party, the Landlord shall resubmit the Offer to the Tenant and the RFR shall apply anew.

 

Notwithstanding
the foregoing, the RFR shall not apply, but shall survive and continue to apply, in the event of an assignment or transfer of the Premises
from the Landlord to a wholly owned subsidiary or an affiliate of the Landlord or a member of the same group as the Landlord (with the
meanings of the Business Corporations Act (Québec)) (a “Landlord Affiliate”) provided the Landlord Affiliate
undertakes in writing (i) to be bound personally by all of the terms and conditions of this Section 3, (ii) to assume all of the Landlord’s
obligations under this Section 3 in favour of the Tenant, and (iii) to obtain, in writing, from any future Landlord Affiliate the same
personal undertakings from any future Landlord Affiliate, as the case may be.

 

	4.	RIGHT
    TO EXPAND

 

Provided
the Lease is in full force and effect, and further provided the Tenant is STRONG/MDI SCREEN SYSTEMS, INC. itself personally, has not
assigned the Lease or the subleased the Premises, or a portion thereof, is not then in default of executing its obligations under the
Lease, and has obtained all necessary governmental or municipal permits, licences and authorizations, the Tenant shall have throughout
the Term the ongoing right to expand the Premises (the “Right to Expand”), at its cost, either by (i) the construction
of an expansion to the Building, or (ii) constructing an additional building on the Land (the “Expansion Premises”),
the whole in accordance with the terms and conditions of Section 6.2 of the Lease.

 

In
order to validly exercise its Right to Expand, the Tenant shall provide to the Landlord a prior written notice of its exercise thereof.

 

The
terms and conditions of the Lease shall apply mutatis mutandis to the Expansion Premises, save and except as follows:

 

	a)	there
                                            shall be no Base Rent payable by the Tenant for the Expansion Premises during the entire
                                            Term (including, for clarity, any Renewal Term(s) and any Extended Term). In addition, the
                                            Base Rent shall not increase as a result of the valid exercise by the Tenant of its Right
                                            to Expand; the Landlord hereby renouncing to any right it may have to increase the Base Rent
                                            under this Lease or at law;

	 	 
	b)	the
    term of the lease for the Expansion Premises (the “Expansion Premises Term”) shall be the greater of (i) the remainder
    of the Term (including any Renewal Term if the Tenant, at the date of the expansion of the Premises, validly exercised one or more
    Option(s) to Renew), or (ii) ten (10) years. For clarity, the Expansion Premises Term shall commence on the date on which the construction
    of the Expansion Premises is substantially completed;
	 	 
	c)	if,
as a result of the application of the provisions of paragraph a) (ii) above, the Expansion Premises Term and the Term for the existing
Premises are not coterminous, the Term for the existing Premises shall be extended by the period (the “Extended Term”) necessary
for the Term to be coterminous with the Expansion Premises Term. The Extended Term shall be on the same terms and conditions as are contained
in the Lease existing on the date immediately preceding the commencement date of the Extended Term, save and except that:

 

	 	i)	the
    Tenant shall accept the existing Premises “as is”, in their state and condition existing on the commencement date of
    the Extended Term, the Tenant hereby renouncing to all legal warranties related thereto; the Landlord having no work to perform in
    the Premises, and all improvements, additions or modifications to the Premises that may be required shall be performed by the Tenant,
    at its cost, in compliance with the provisions of the Lease;
	 	 	 
	 	 	there
    shall be no fixturing period, no allowance, no free rent period, nor any other inducement, free occupancy period or other incentive
    of whatsoever nature; and
	 	 	 
	 	 	the
    Base Rent payable by the Tenant to the Landlord during this Extended Term for the existing Premises (excluding the Expansion Premises
    for which no Base Rent is payable) shall be the Fair Market Rent mutually agreed upon by the parties.

 

If
the parties fail to mutually agree on the Fair Market Rent for the Premises, each party shall have the right to request that said Fair
Market Rent be determined by arbitration pursuant to the following provisions: The party requesting the arbitration shall provide a written
notice to the other party to that effect. The arbitrator shall be selected by both parties. If the parties cannot agree on the selection
of the arbitrator within a fifteen (15) day delay following one of the party’s receipt of a written notice from the other party
in which said other party proposes an arbitrator, then either party shall have the right to apply to a Court of competent jurisdiction
for the appointment of the arbitrator. Any arbitrator named by the parties or the Court shall (i) be a member in good standing of the
Ordre des évaluateurs agréés du Québec (OAEQ), and (ii) have no less than ten (10) years’ experience
in the Joliette region, and (iii) be at arm’s length from each party. The arbitrator shall render his or her decision by no later
than fifteen (15) days from its receipt of the arbitration mandate, and his or her decision shall be final, binding and without appeal.
Unless there is bad faith in respect of the arbitration, each of the Tenant and the Landlord shall bear its own costs and shall divide
the arbitrator costs equally. Subject to the foregoing, the arbitration shall conform to Articles 620 and following of the Code of
Civil Procedure.

 

The
parties shall execute the Landlord’s standard form of lease amending agreement to reflect the lease of the Expansion Premises as
per the terms and conditions hereto.

 

The
Right to Expand is conditional upon the construction of the Expansion Premises being permitted under Applicable Law; the Landlord makes
no representation and offers no warranty that such construction is permitted thereunder. In the event such condition is not met, the
Right to Expand and the provisions of this Section shall ipso facto become null and void and of no further effect, without any
rights or recourses whatsoever of the Tenant against the Landlord related thereto.

 

If
the Tenant validly exercises its Right to Expand and the construction of the Expansion Premises is permitted under Applicable Law, the
Tenant, at its cost, shall obtain all permits, licences and authorizations from all competent authorities necessary for the construction
of the Expansion Premises and shall proceed with the construction of the Expansion Premises within reasonable delays acting promptly
and diligently.

 

	5.	TOTAL
    TERM NOT TO REACH NOR EXCEED 40 YEARS

 

Notwithstanding
any provision of the Lease, in no event shall the total Term of the Lease (being, for clarity, the initial term of fifteen (15) years,
all Renewal Terms and the Extended Term pursuant to Section 4.b)(ii) of this Schedule “A”) be of forty (40) years or more.
If the total Term, either in virtue of the valid exercise by the Tenant of an Option to Renew or in virtue of the Extended Term, is to
reach or exceed forty (40) years, it shall automatically be reduced by the number of days, months or years necessary to be of forty (40)
years minus one (1) day. Once the total Term has reached forty (40) years minus one (1) day, any remaining Option(s) to Renew, together
with the provisions of Section 2 of this Schedule “A”, shall be deemed null and void and of no further effect.

 

    	-20-Exhibit
10.10

 

STRONG
GLOBAL ENTERTAINMENT, INC.

 

Form
oF  2022  sHARE
COMPENSATION PLAN

(Adopted
by the Board of Directors of Strong Global Entertainment, Inc. on April 4, 2022 and approved by Shareholders on [●])

 

	1.	DEFINITIONS
    AND INTERPRETATION
	 	 
	1.1	Definitions:
    For purposes of the Plan, unless the context requires otherwise, the following words and terms shall have the following meanings:

 

	 	(a)	“1933
    Act” means the United States Securities Act of 1933, as amended;
	 	 	 
	 	(b)	“Account”
    has the meaning attributed to that term in section 4.8;
	 	 	 
	 	(c)	“Administrators”
    means the Board or such other persons as may be designated by the Board from time to time;
	 	 	 
	 	(d)	“Affiliate”
    means a corporation or other entity that, directly or through one or more intermediaries, controls, is controlled by or is under
    common control with, the Company. 
	 	 	 
	 	(e)	“Award
    Date” means the date or dates on which an award of Restricted Share Units is made to a Participant in accordance with section
    4.1;
	 	 	 
	 	(f)	“Blackout
    Period” means the period during which designated directors, officers and employees of the Company cannot trade the Common
    Shares pursuant to the Company’s policy respecting restrictions on directors’, officers’ and employee trading which
    is in effect at that time (which, for greater certainty, does not include the period during which a cease trade order is in effect
    to which the Company or in respect of an insider, that insider is subject);
	 	 	 
	 	(g)	“Board”
    means the board of directors of the Company from time to time;
	 	 	 
	 	(h)	“Business
    Day” means each day other than a Saturday, Sunday or any day on which the principal chartered banks located in the Province
    of British Columbia and the United States are not open for business during normal banking hours;
	 	 	 
	 	(i)	“Canadian
    Participant” means a Participant who is a citizen of Canada or a resident of Canada and any other Participant who is subject
    to tax under the Income Tax Act (Canada) as amended, with respect to compensatory awards granted pursuant to the Plan; 
	 	 	 
	 	(j)	Change
    of Control” means:

 

	 	(i)	one
    Person (or more than one Person acting as a group) acquires ownership of Common Shares that, together with the Common Shares held
    by such Person or group, constitute more than fifty percent (50%) of the total Fair Market Value, or total number of votes attached
    to outstanding voting shares of the Company; provided, that, a Change in Control shall not occur if any Person (or more than one
    Person acting as a group) owns Common Shares constituting more than fifty percent (50%) of the total Fair Market Value, or total
    number of votes attached to outstanding voting shares, of the Company and acquires additional Common Shares; 

 

    	 

    	 

    

 

	 	(ii)	the
    Incumbent Directors cease for any reason to constitute at least a majority of the Board; 
	 	 	 
	 	(iii)	the
    occurrence of any of the following events upon which the shareholders of the Company immediately before the event do not retain immediately
    after the event direct or indirect beneficial ownership of more than fifty percent (50%) of the total voting rights attaching to
    the outstanding voting shares of the Company, its successor company, or organization succeeding to all or substantially all of the
    assets and business of the Company; 
	 	 	 
	 	(iv)	a
    reorganization, merger, consolidation, statutory share exchange or similar form of corporate transaction involving the Company that
    requires shareholder approval; or 
	 	 	 
	 	(v)	the
    direct or indirect sale, exchange, transfer, or conveyance in one or a series of related transactions, of all or substantially all
    of the, undertakings, assets or properties of the Company and its Affiliates, taken as a whole, to any person that is not an Affiliate
    of the Company.

 

Notwithstanding
the foregoing, solely for the purpose of determining the timing of any payments pursuant to any award constituting a “deferral
of compensation” subject to Code Section 409A, a Change of Control shall be limited to a “change in the ownership of the
Company,” a “change in the effective control of the Company,” or a “change in the ownership of a substantial
portion of the assets of the Company” as such terms are defined in Section 1.409A-3(i)(5) of the U.S. Treasury Regulations.

 

	 	(k)	“Clawback
    Policy” means the clawback policy of the Company as determined by the Board, and as it may be amended, replaced, or restated
    from time to time;
	 	 	 
	 	(l)	“Code”
    means the U.S. Internal Revenue Code of 1986, as amended;
	 	 	 
	 	(m)	“Common
    Shares” means the Class A Common Voting shares of the Company;
	 	 	 
	 	(n)	“Company”
    means Strong Global Entertainment, Inc., a company existing under the Business Corporations Act (British Columbia) and the
    successors thereof; 
	 	 	 
	 	(o)	“Consultant”
    means an individual (other than an employee or a director of the Company) that: 

 

    	2

    	 

    

 

	 	(A)	is
    engaged to provide on an ongoing bona fide basis, consulting, technical, management or other services to the Company or to an Affiliate
    of the Company;
	 	 	 
	 	(B)	such
    services are not provided in relation to an offer or sale of securities of the Company in a capital-raising transaction, and do not
    promote or maintain a market for the Company’s securities; without limiting the foregoing, consultants providing investor relations
    services are not Consultants or Eligible Persons under the Plan;
	 	 	 
	 	(C)	provides
    the services under a written contract between the Company or the Affiliate and the individual or the company, as the case may be;
	 	 	 
	 	(D)	in
    the reasonable opinion of the Company, spends or will spend a significant amount of time and attention on the affairs and business
    of the Company or an Affiliate of the Company; and
	 	 	 
	 	(E)	has
    a relationship with the Company or an Affiliate of the Company that enables the individual to be knowledgeable about the business
    and affairs of the Company; 

 

	 	(p)	“Effective
    Date” means [●] ;
	 	 	 
	 	(q)	“Eligible
    Person” means:

 

	 	(i)	any
    officer or employee of the Company and/or any officer or employee of any Affiliate of the Company and any director of the Company
    and/or any director of any Affiliate of the Company; and
	 	 	 
	 	(ii)	a
    Consultant;

 

	 	(r)	“Event
    of Termination” means an event whereby a Participant ceases to be an Eligible Person (whether or not that cessation is
    lawful) and shall be deemed to have occurred effective upon the giving of any notice of termination of employment or service (whether
    or not that termination is lawful, whether voluntary or involuntary, and whether with or without cause), retirement, or any cessation
    of employment or service for any reason whatsoever, including disability or death; 
	 	 	 
	 	(s)	“Exchange”
    means any stock exchange or quotation system where the Common Shares are listed on or through which the Common Shares are listed
    or quoted;
	 	 	 
	 	(t)	“Fair
    Market Value” means, as of any date, the closing price of the Common Shares on the Exchange for the last market trading
    day prior to the date of grant of the Option or if the Common Shares are not listed on a stock exchange, the Fair Market Value shall
    be determined in good faith by the Administrators

 

    	3

    	 

    

 

	 	(u)	“Grant
    Date” means the date on which a grant of Options is made to a Participant in accordance with section 5.1;
	 	 	 
	 	(v)	“Insider
    Participant” means a Participant who is an insider of the Company or any of its Affiliates);
	 	 	 
	 	(w)	“Market
    Value” means, on any date, the volume weighted average price of the Common Shares traded on the Exchange for the five (5)
    consecutive trading days prior to such date;
	 	 	 
	 	(x)	“Notification
    Date” means:

 

	 	(i)	where
    a Participant who is an employee or officer or director resigns for any reason whatsoever from the Participant’s employment
    or office with the Company or any Affiliate of the Company, the date on which that Participant first gives notice of resignation
    to the Company or the Affiliate;
	 	 	 
	 	(ii)	where
    a Participant who is a consultant terminates their service with the Company or any Affiliate for any reason whatsoever, the date
    on which that Participant first gives notice of termination to the Company or the Affiliate;
	 	 	 
	 	(iii)	where
    a Participant’s employment or service or office is terminated by the Company or any Affiliate of the Company for any reason
    whatsoever, the date on which the Company or that Affiliate first gives written notice of termination to the Participant.

 

	 	(y)	“Offer”
    means a bona fide arm’s length offer made to all holders of voting shares in the authorized share structure of the Company
    to purchase, directly or indirectly, voting shares in the authorized share structure of the Company;
	 	 	 
	 	(z)	“Option”
    means an option granted to an Eligible Person under the Plan to purchase Common Shares;
	 	 	 
	 	(aa)	“Option
    Agreement” has the meaning ascribed to that term in section 3.2;
	 	 	 
	 	(bb)	“Other
    Share-Based Award” means an equity-based or equity-related award not otherwise described by the terms of the Plan, granted
    in accordance with the terms and conditions set forth in section 1;
	 	 	 
	 	(cc)	“Participant”
    means an Eligible Person selected by the Administrators to participate in the Plan in accordance with section 3.1 hereof;
	 	 	 
	 	(dd)	“Payout
    Date” means the day on which the Company pays to a Participant the Market Value of the Restricted Share Units that have
    become vested and payable;
	 	 	 
	 	(ee)	“Plan”
    means this share compensation plan, as amended, replaced or restated from time to time; 

 

    	4

    	 

    

 

	 	(ff)	“reserved
    for issuance” refers to Common Shares that may be issued in the future upon the vesting of Restricted Share Units which
    have been awarded and upon the exercise of Options which have been granted;
	 	 	 
	 	(gg)	“Restricted
    Share Unit” means a right granted in accordance with section 4.1 hereof to receive one Common Share that becomes vested
    in accordance with section 4.3;
	 	 	 
	 	(hh)	“Restricted
    Share Unit Agreement” has the meaning ascribed to that term in section 3.2;
	 	 	 
	 	(ii)	“Restricted
    Share Unit Deferral Agreement” has the meaning ascribed to that term in section 4.5; 
	 	 	 
	 	(jj)	“Share
    Compensation Arrangement” means a stock option, stock option plan, employee stock purchase plan or any other compensation
    or incentive mechanism involving the issuance or potential issuance of Common Shares to directors, officers and employees of the
    Company and any of its Affiliates or to Consultants;
	 	 	 
	 	(kk)	“United
    States” means the United States of America, its territories and possessions, any state of the United States and the District
    of Columbia;
	 	 	 
	 	(ll)	“U.S.
    Participant” means a Participant who is a citizen of the United States or a resident of the United States, as defined in
    section 7701(a)(30)(A) and section 7701(b)(1) of the Code and any other Participant who is subject to tax under the Code with respect
    to compensatory awards granted pursuant to the Plan; 
	 	 	 
	 	(mm)	“U.S.
    Person” means a “U.S. person”, as such term is defined in Regulation S under the 1933 Act; and
	 	 	 
	 	(nn)	“Withholding
    Obligations” has the meaning ascribed to that term in section 4.6.

 

	1.2	Headings:
    The headings of all articles, sections, and paragraphs in the Plan are inserted for convenience of reference only and shall not
    affect the construction or interpretation of the Plan.
	 	 
	1.3	Context,
    Construction: Whenever the singular or masculine are used in the Plan, the same shall be construed as being the plural or feminine
    or neuter or vice versa where the context so requires.
	 	 
	1.4	References
    to this Plan: The words “hereto”, “herein”, “hereby”, “hereunder”, “hereof”
    and similar expressions mean or refer to the Plan as a whole and not to any particular article, section, paragraph or other part
    hereof.
	 	 
	1.5	Currency:
    All references in this Plan or in any agreement entered into under this Plan to “dollars”, “$” or lawful
    currency shall be references to United States dollars, unless the context otherwise requires. 

 

    	5

    	 

    

 

	2.	PURPOSE
    AND ADMINISTRATION OF THE PLAN
	 	 
	2.1	Purpose:
    The purpose of the Plan is to advance the interests of the Company and its Affiliates, and its shareholders by: (i) ensuring
    that the interests of Eligible Persons are aligned with the success of the Company and its Affiliates; (ii) encouraging stock ownership
    by Eligible Persons; and (iii) providing compensation opportunities to attract, retain and motivate Eligible Persons.
	 	 
	2.2	Common
    Shares Subject to the Plan:

 

	 	(a)	Shares
    Available for Awards. Subject to adjustment in accordance with Section 6.3, the aggregate number
of Common Shares reserved and available for grant and issuance pursuant to this Plan shall be 2,000,000 Common Shares. Common Shares
available for distribution under the Plan may consist, in whole or in part, of authorized and unissued shares, treasury shares or shares
reacquired by the Company in any manner;
	 	 	 
	 	(b)	Non-Employee
    Director Limits. Notwithstanding any other provision of the Plan to the contrary, the aggregate Fair Market Value (computed as
    of the Grant Date in accordance with applicable financial accounting rules) of all awards granted to any non-employee director during
    any single calendar year, taken together with any cash fees paid to such person during such calendar year, shall not exceed $200,000.

 

	2.3	Administration
    of the Plan: The Plan shall be administered by the Administrators, through the recommendation of the Compensation Committee of
    the Board. Subject to any limitations of the Plan, the Administrators shall have the power and authority to:

 

	 	(a)	adopt
    rules and regulations for implementing the Plan;
	 	 	 
	 	(b)	determine
    the eligibility of persons to participate in the Plan, when Restricted Share Units and Options to Eligible Persons shall be awarded
    or granted, the number of Restricted Share Units and Options to be awarded or granted, the vesting criteria for each award of Restricted
    Share Units and the vesting period for each grant of Options;
	 	 	 
	 	(c)	interpret
    and construe the provisions of the Plan and any agreement or instrument under the Plan; 
	 	 	 
	 	(d)	subject
    to regulatory requirements, make exceptions to the Plan in circumstances which they determine to be exceptional; 
	 	 	 
	 	(e)	require
    that any Participant provide certain representations, warranties and certifications to the Company to satisfy the requirements of
    applicable laws, including without limitation, if applicable, exemptions from the registration requirements of the 1933 Act and applicable
    state securities laws; and

 

    	6

    	 

    

 

	 	(f)	make
    all other determinations and take all other actions as they determine to be necessary or desirable to implement, administer and give
    effect to the Plan.

 

	3.	ELIGIBILITY
    AND PARTICIPATION IN PLAN
	 	 
	3.1	The
    Plan and Participation: The Plan is hereby established for Eligible Persons. Restricted Share Units may be awarded and Options
    may be granted to any Eligible Person as determined by the Administrators in accordance with the provisions hereof. The Company and
    each Participant acknowledge that they are responsible for ensuring and confirming that such Participant is a bona fide Eligible
    Person entitled to receive Options or Restricted Share Units, as the case may be. Participation in the Plan by Eligible Persons is
    voluntary, and the expectation of employment or continued employment does not depend on participation in the Plan. 
	 	 
	3.2	Agreements:
    All Restricted Share Units awarded hereunder shall be evidenced by a restricted share unit agreement (“Restricted Share
    Unit Agreement”) between the Company and the Participant, substantially in the form set out in Exhibit A or in such other
    form as the Administrators may approve from time to time. All Options granted hereunder shall be evidenced by an option agreement
    (“Option Agreement”) between the Company and the Participant, substantially in the form as set out in Exhibit
    B or in such other form as the Administrators may approve from time to time.
	 	 
	4.	AWARD
    OF RESTRICTED SHARE UNITS
	 	 
	4.1	Award
    of Restricted Share Units:

 

The
Administrators may, at any time and from time to time, award Restricted Share Units to Eligible Persons. In awarding any Restricted Share
Units, the Administrators shall determine:

 

	 	(a)	to
    whom Restricted Share Units pursuant to the Plan will be awarded;
	 	 	 
	 	(b)	the
    number of Restricted Share Units to be awarded and credited to each Participant’s Account;
	 	 	 
	 	(c)	the
    Award Date; and
	 	 	 
	 	(d)	subject
    to section 4.3 hereof, the applicable vesting criteria.

 

Upon
the award of Restricted Share Units, the number of Restricted Share Units awarded to a Participant shall be credited to the Participant’s
Account effective as of the Award Date.

 

	4.2	Restricted
    Share Unit Agreement: Upon the award of each Restricted Share Unit to a Participant, a Restricted Share Unit Agreement shall
    be delivered by the Administrators to the Participant.

 

    	7

    	 

    

 

	4.3	Vesting:

 

	 	(a)	Subject
    to subsections (c) and (d) below, at the time of the award of Restricted Share Units, the Administrators shall determine in their
    sole discretion the vesting criteria applicable to such Restricted Share Units.
	 	 	 
	 	(b)	For
    greater certainty, the vesting of Restricted Share Units may be determined by the Administrators to include criteria such as performance
    vesting, in which the number of Common Shares to be delivered to a Participant for each Restricted Share Unit that vests may fluctuate
    based upon the Company’s performance and/or the market price of the Common Shares, in such manner as determined by the Administrators
    in their sole discretion.
	 	 	 
	 	(c)	Each
    Restricted Share Unit shall be subject to vesting in accordance with the terms set out in the Restricted Share Unit Agreement.
	 	 	 
	 	(d)	Notwithstanding
    anything to the contrary in this Plan, all vesting and issuances or payments, as applicable, in respect of a Restricted Share Unit
    shall be completed no later than December 15 of the third calendar year commencing after the Award Date for such Restricted Share
    Unit.

 

	4.4	Blackout
    Periods: Should the date of vesting of a Restricted Share Unit fall within a Blackout Period or within nine Business Days following
    the expiration of a Blackout Period, such date of vesting shall be automatically extended without any further act or formality to
    that date which is the tenth Business Day after the end of the Blackout Period, such tenth Business Day to be considered the date
    of vesting for such Restricted Share Unit for all purposes under the Plan. Notwithstanding section 6.4 hereof, the ten Business Day
    period referred to in this section 4.4 may not be extended by the Board.
	 	 
	4.5	Vesting
    and Settlement: As soon as practicable after the relevant date of vesting of any Restricted Share Units awarded under the Plan
    and with respect to a U.S. Participant, no later than 60 days thereafter, but subject to subsection 4.3(d), a Participant shall be
    entitled to receive and the Company shall issue or pay (at its discretion):

 

	 	(a)	a
    lump sum payment in cash equal to the number of vested Restricted Share Units recorded in the Participant’s Account multiplied
    by the Market Value of a Common Share on the Payout Date;
	 	 	 
	 	(b)	the
    number of Common Shares required to be issued to a Participant upon the vesting of such Participant’s Restricted Share Units
    in the Participant’s Account, duly issued as fully paid and non-assessable shares and such Participant shall be registered
    on the books of the Company as the holder of the appropriate number of Common Shares; or
	 	 	 
	 	(c)	any
    combination of the foregoing.

 

Notwithstanding
the foregoing, the Administrators may permit a U.S. Participant to defer the payment of shares following the vesting of Restricted Share
Units, provided that such deferral is made pursuant to a written deferral election form (the “Restricted Share Unit Deferral
Agreement”) between the Company and the U.S. Participant that complies with the requirements of Section 409A of the Code, substantially
in the form as set out in Exhibit D or in such other form as the Administrators may approve from time to time.

 

    	8

    	 

    

 

	4.6	Taxes
    and Source Deductions: the Company or an affiliate of the Company may take such reasonable steps for the deduction and withholding
    of any taxes and other required source deductions which the Company or the affiliate, as the case may be, is required by any law
    or regulation of any governmental authority whatsoever to remit in connection with this Plan, any Restricted Share Units or any issuance
    of Common Shares (“Withholding Obligations”). Without limiting the generality of the foregoing, the Company may,
    at its discretion: (i) deduct and withhold those amounts it is required to remit pursuant to the Withholding Obligations from any
    cash remuneration or other amount payable to the Participant, whether or not related to the Plan, the vesting of any Restricted Share
    Units or the issue of any Common Shares; (ii) allow the Participant to make a cash payment to the Company equal to the amount required
    to be remitted, pursuant to the Withholding Obligations, which amount shall be remitted by the Company to the appropriate governmental
    authority for the account of the Participant; or (iii) settle a portion of vested Restricted Share Units of a Participant in cash
    equal to the amount the Company is required to remit, pursuant to the Withholding Obligations, which amount shall be remitted by
    the Company to the appropriate governmental authority for the account of the Participant. Where the Company considers that the steps
    undertaken in connection with the foregoing result in inadequate withholding or a late remittance of taxes, the delivery of any Common
    Shares to be issued to a Participant on vesting of any Restricted Share Units may be made conditional upon the Participant (or other
    person) reimbursing or compensating the Company or making arrangements satisfactory to the Company for the payment to it in a timely
    manner of all taxes required to be remitted, pursuant to the Withholding Obligations, for the account of the Participant.
	 	 
	4.7	Rights
    Upon an Event of Termination:

 

	 	(a)	If
    an Event of Termination has occurred in respect of any Participant, any and all Common Shares corresponding to any vested Restricted
    Share Units in the Participant’s Account shall be issued as soon as practicable after the Event of Termination to the former
    Participant in accordance with section 4.5 hereof. With respect to each Restricted Share Unit of a U.S. Participant, such Restricted
    Share Unit will be settled and shares issued as soon as practicable following the date of vesting of such Restricted Share Unit as
    set forth in the applicable Restricted Share Unit Agreement, but in all cases within 60 days following such date of vesting or as
    otherwise specified in the applicable Restricted Share Unit Deferral Agreement. 
	 	 	 
	 	(b)	If
    an Event of Termination has occurred in respect of any Participant, any unvested Restricted Share Units in the Participant’s
    Account shall, unless otherwise determined by the Administrators in their discretion, forthwith and automatically be forfeited by
    the Participant and cancelled as of the date of the Event of Termination. With respect to any Restricted Share Unit of a U.S. Participant,
    if the Administrators determine, in their discretion, to waive vesting conditions applicable to a Restricted Share Unit that is unvested
    at the time of an Event of Termination, such Restricted Share Unit shall not be forfeited or cancelled, but instead will be deemed
    to be vested and settled and shares delivered following the date of vesting of such Restricted Share Unit as set forth in the applicable
    Restricted Share Unit Agreement or as otherwise specified in the applicable Restricted Share Unit Deferral Agreement. 

 

    	9

    	 

    

 

	 	(c)	Notwithstanding
    the foregoing subsection 4.7(b), if a Participant retires in accordance with the Company’s or the Affiliate’s retirement
    policy, at such time, any unvested performance-based Restricted Share Units in the Participant’s Account shall not be forfeited
    by the Participant or cancelled and instead shall be eligible to become vested in accordance with the vesting conditions set forth
    in the applicable Restricted Share Unit Agreement after such retirement (as if retirement had not occurred) or as otherwise specified
    in the applicable Restricted Share Unit Deferral Agreement, but only if the performance vesting criteria, if any, are met on the
    applicable date. 
	 	 	 
	 	(d)	For
    greater certainty, if a Participant’s employment is terminated for just cause, each unvested Restricted Share Unit in the Participant’s
    Account shall forthwith and automatically be forfeited by the Participant and cancelled as of the date of the Event of Termination.
	 	 	 
	 	(e)	For
    the purposes of this Plan and all matters relating to the Restricted Share Units, the date of the Event of Termination:

 

	 	(i)	shall
    be the Notification Date where applicable, and otherwise shall be such date as is determined by the Company or the Affiliate, as
    applicable, in its sole discretion; and,
	 	 	 
	 	(ii)	shall
    be determined without regard to any applicable notice of termination, severance or termination pay, compensation or indemnity in
    lieu of notice, wrongful or constructive dismissal damages, damages for the failure to provide reasonable notice, period of salary
    continuation or of deemed employment or of deemed service, or any claim whatsoever by the Participant to any of the foregoing (whether
    express, implied, contractual, statutory, arising at civil law, common law or otherwise at law in any manner).

 

	4.8	Restricted
    Share Unit Accounts: A separate notional account for Restricted Share Units shall be maintained for each Participant (an “Account”).
    Each Account will be credited with Restricted Share Units awarded to the Participant from time to time pursuant to section 4.1 hereof
    by way of a bookkeeping entry in the books of the Company. On the vesting of the Restricted Share Units pursuant to section 4.3 hereof
    and the corresponding issuance of Common Shares to the Participant pursuant to section 4.5 hereof, or on the forfeiture and cancellation
    of the Restricted Share Units pursuant to section 4.7 hereof, the applicable Restricted Share Units credited to the Participant’s
    Account will be cancelled.
	 	 
	4.9	Record
    Keeping: the Company shall maintain records in which shall be recorded: 

 

	 	(a)	the
    name and address of each Participant;

 

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	 	(b)	the
    number of Restricted Share Units credited to each Participant’s Account;
	 	 	 
	 	(c)	any
    and all adjustments made to Restricted Share Units recorded in each Participant’s Account; and
	 	 	 
	 	(d)	any
    other information which the Company considers appropriate to record in such records.

 

	5.	GRANT
    OF OPTIONS 
	 	 
	5.1	Grant
    of Options: Subject to section 2.2, the total number of Common Shares reserved and available for grant pursuant to this section
    on exercise of Options (together with those Common Shares issuable pursuant to any other Share Compensation Arrangement) shall not
    exceed 2,000,000 Common Shares.
	 	 
	 	The
Administrators may at any time and from time to time grant Options to Eligible Persons. In granting any Options, the Administrators shall
determine:

  

	 	(a)	to
    whom Options pursuant to the Plan will be granted;
	 	 	 
	 	(b)	the
    number of Options to be granted, the Grant Date and the exercise price of each Option;
	 	 	 
	 	(c)	the
    expiration date of each Option; and
	 	 	 
	 	(d)	subject
    to section 5.3 hereof, the applicable vesting criteria,

 

	 	provided,
however that the exercise price for a Common Share pursuant to any Option shall not be less than the Fair Market Value of a Common Share
on the Grant Date in respect of that Option.
	 	 
	5.2	Option
    Agreement: Upon each grant of Options to a Participant, an Option Agreement shall be delivered by the Administrators to the Participant.
	 	 
	5.3	Vesting:
	 	 
	 	The
Administrators may determine when any Option will become exercisable and may determine that Options shall be exercisable in instalments
or pursuant to a vesting schedule. The Option Agreement will disclose any vesting conditions prescribed by the Administrators.

  

	5.4	Term
    of Option/Blackout Periods: The term of each Option shall be determined by the Administrators; provided that no Option shall
    be exercisable after ten years from the Grant Date. Should the term of an Option expire on a date that falls within a Blackout Period
    or within nine Business Days following the expiration of a Blackout Period, such expiration date shall be automatically extended
    without any further act or formality to that date which is the tenth Business Day after the end of the Blackout Period, such tenth
    Business Day to be considered the expiration date for such Option for all purposes under the Plan. Notwithstanding section 6.4 hereof,
    the ten Business Day period referred to in this section 5.4 may not be extended by the Board.

 

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	5.5	Exercise
    of Option:
	 	 
	 	Options
that have vested in accordance with the provisions of this Plan and the applicable Option Agreement may be exercised at any time, or
from time to time, during their term and subject to the provisions of section 5.9 hereof as to any number of whole Common Shares that
are then available for purchase thereunder; provided that no partial exercise may be for less than 100 whole Common Shares. Options may
be exercised by delivery of a written notice of exercise to the Administrators, substantially in the form attached to this Plan as Exhibit
C, with respect to the Options, or by any other form or method of exercise acceptable to the Administrators.

  

	5.6	Payment
    and Issuance: Upon actual receipt by the Company or its agent of the materials required by subsection 5.5 and receipt by the
    Company of a cheque or other form of acceptable payment for the aggregate exercise price, the number of Common Shares in respect
    of which the Options are exercised will be issued as fully paid and non-assessable shares and the Participant exercising the Options
    shall be registered on the books of the Company as the holder of the appropriate number of Common Shares. No person or entity shall
    enjoy any part of the rights or privileges of a holder of Common Shares which are subject to Options until that person or entity
    becomes the holder of record of those Common Shares. No Common Shares will be issued by the Company prior to the receipt of payment
    by the Company for the aggregate exercise price for the Options being exercised.
	 	 
	5.7	Cashless
    Exercise: Without limiting the foregoing section 5.6, unless otherwise determined by the Administrators or not compliant with
    any applicable laws or rules of any applicable securities exchange or market, a Participant may elect a cashless exercise in a notice
    of exercise in accordance with the following: (i) cashless exercise of Options shall only be available to a Participant who intends
    to immediately sell the Common Shares issuable upon exercise of such Options in the United States and the proceeds of sale will be
    sufficient to satisfy the exercise price of the Options, and (ii) if an eligible Participant elects to exercise the Options through
    cashless exercise and complies with any relevant protocols approved by the Administrators, a sufficient number of the Common Shares
    issued upon exercise of the Options will be sold in the United States by a designated broker on behalf of the Participant to satisfy
    the exercise price of the Options, the exercise price of the Options will be delivered to the Company and the Participant will receive
    only the remaining unsold Common Shares from the exercise of the Options and the net proceeds of the sale after deducting the exercise
    price of the Options, applicable taxes and any applicable fees and commissions, all as determined by the Administrators from time
    to time. The Company shall not deliver the Common Shares issuable upon a cashless exercise of Options until receipt of the exercise
    price therefor, whether by a designated broker selling the Common Shares issuable upon exercise of such Options through a short position
    or such other method determined by the Administrators in compliance with applicable laws. 

 

    	12

    	 

    

 

	5.8	Taxes
    and Source Deductions: The Company or an affiliate of the Company may take such reasonable steps for the deduction and withholding
    of any taxes and other required source deductions which the Company or the affiliate, as the case may be, is required by any law
    or regulation of any governmental authority whatsoever to remit pursuant to the Withholding Obligations in connection with this Plan,
    any Options or any issuance of Common Shares. Without limiting the generality of the foregoing, the Company may, at its discretion:
    (i) deduct and withhold those amounts it is required to remit, pursuant to the Withholding Obligations, from any cash remuneration
    or other amount payable to the Participant, whether or not related to the Plan, the exercise of any Options or the issue of any Common
    Shares; or (ii) allow the Participant to make a cash payment to the Company equal to the amount required to be remitted, pursuant
    to the Withholding Obligations, which amount shall be remitted by the Company to the appropriate governmental authority for the account
    of the Participant. Where the Company considers that the steps undertaken in connection with the foregoing result in inadequate withholding
    or a late remittance of taxes, the delivery of any Common Shares to be issued to a Participant on the exercise of Options may be
    made conditional upon the Participant (or other person) reimbursing or compensating the Company or making arrangements satisfactory
    to the Company for the payment in a timely manner of all taxes required to be remitted, pursuant to the Withholding Obligations,
    for the account of the Participant.
	 	 
	5.9	Rights
    Upon an Event of Termination:

 

	 	(a)	If
    an Event of Termination has occurred in respect of a Participant, any unvested Options, to the extent not available for exercise
    as of the date of the Event of Termination, shall, unless otherwise determined by the Administrators in their discretion, forthwith
    and automatically be cancelled, terminated and not available for exercise without further consideration or payment to the Participant.
	 	 	 
	 	(b)	Except
    as otherwise stated herein or otherwise determined by the Administrators in their discretion (provided such determination does not
    exceed a maximum of one year), upon the occurrence of an Event of Termination in respect of a Participant, any vested Options granted
    to the Participant that are available for exercise as of the date of the Event of Termination may be exercised only before the earlier
    of:

 

	 	(i)	the
    expiration of the Option; and
	 	 	 
	 	(ii)	six
    months after the date of the Event of Termination.

 

	 	(c)	Notwithstanding
    the foregoing subsections 5.9(a) and (b), if a Participant’s employment is terminated for just cause, each Option held by the
    Participant as of the date of the Event of Termination, whether or not then exercisable, shall forthwith and automatically be cancelled
    and may not be exercised by the Participant. 

 

    	13

    	 

    

 

	 	(d)	For
    the purposes of this Plan and all matters relating to the Options, the date of the Event of Termination:

 

	 	(i)	shall
    be the Notification Date where applicable, and otherwise shall be such date as is determined by the Company or the Affiliate, as
    applicable, in its sole discretion; and,
	 	 	 
	 	(ii)	shall
    be determined without regard to any applicable notice of termination, severance or termination pay, compensation or indemnity in
    lieu of notice, wrongful or constructive dismissal damages, damages for the failure to provide reasonable notice, period of salary
    continuation or of deemed employment or of deemed service, or any claim whatsoever by the Participant to any of the foregoing (whether
    express, implied, contractual, statutory, arising at civil law, common law or otherwise at law in any manner).

 

	5.10	Record
    Keeping: The Company shall maintain an Option register in which shall be recorded: 

 

	 	(a)	the
    name and address of each holder of Options;
	 	 	 
	 	(b)	the
    number of Common Shares subject to Options granted to each holder of Options;
	 	 	 
	 	(c)	the
    term of the Option and exercise price, including adjustments for each Option granted; and
	 	 	 
	 	(d)	any
    other information which the Company considers appropriate to record in such register.

 

	6.	GENERAL
	 	 
	6.1	Effective
    Date of Plan: The Plan shall be effective as of the Effective Date. 
	 	 
	6.2	Change
    of Control: If there is a Change of Control transaction then, notwithstanding any other provision of this Plan except subsection
    4.3(d) which will continue to apply in all circumstances, the Administrators may take any of the following actions:

 

	 	(a)	Administrators
    Discretion. The Administrators may, in their sole discretion and without the consent of Participants, either by the terms of
    the Award Agreement applicable to any award or by resolution adopted prior to the occurrence of the Change of Control, determine
    whether and to what extent outstanding awards under the Plan shall be assumed, converted or replaced by the resulting entity in connection
    with a Change of Control (or, if the Company is the resulting entity, whether such awards shall be continued by the Company), in
    each case subject to equitable adjustments in accordance with section 6.2 of the Plan.
	 	 	 
	 	(b)	Awards
    that are Assumed. To the extent outstanding awards granted under this Plan are assumed, converted or replaced by the resulting
    entity in the event of a Change of Control (or, if the Company is the resulting entity, to the extent such awards are continued by
    the Company) as provided in Section 6.2(a) of the Plan, then all outstanding awards shall continue to vest during the applicable
    vesting period.

 

    	14

    	 

    

 

	 	(c)	Awards
    that are not Assumed. Subject to Section 6.2(d), to the extent outstanding awards granted under this Plan are not assumed, converted
    or replaced by the resulting entity in connection with a Change of Control (or, if the Company is the resulting entity, to the extent
    such awards are not continued by the Company) in accordance with Section 6.2(b) of the Plan, then effective immediately prior to
    the Change of Control: (i) all outstanding awards shall become fully vested; (ii) all outstanding awards held by the Participant
    that may be exercised shall become fully exercisable and shall remain exercisable for the full duration of their term; and (iii)
    all restrictions with respect to outstanding awards shall lapse.
	 	 	 
	 	(d)	Cancellation
    Right. The Administrators may, in their sole discretion and without the consent of Participants, either by the terms of the Award
    Agreement applicable to any award or by resolution adopted prior to the occurrence of the Change of Control, provide Participants
    with the right to surrender any outstanding award (or a portion thereof), upon the occurrence of such Change of Control, for an amount
    per underlying Common Share equal to the positive difference, if any, between the Fair Market Value of the Common Share on the date
    of surrender and the relevant exercise price related to the award, less any withholding taxes, as applicable.

 

	 	Notwithstanding
the foregoing, with respect to Options of U.S. Participants, any exchange, substitution or amendment of such Options will occur only
to the extent and in a manner that will not result in the imposition of taxes under Section 409A of the Code, and with respect to Restricted
Share Units of U.S. Participants, any surrender or other modification of Restricted Share Units will occur only to the extent such surrender
or other modification will not result in the imposition of taxes under Section 409A of the Code.
	 	 
	6.3	Reorganization
    Adjustments:

 

	 	(a)	In
    the event of any declaration by the Company of any stock dividend payable in securities (other than a dividend which may be paid
    in cash or in securities at the option of the holder of Common Shares), or any subdivision or consolidation of Common Shares, reclassification
    or conversion of Common Shares, or any combination or exchange of securities, merger, consolidation, recapitalization, amalgamation,
    plan of arrangement, reorganization, spin off involving the Company, distribution (other than normal course cash dividends) of company
    assets to holders of Common Shares, or any other corporate transaction or event involving the Company or the Common Shares, the Administrators,
    in the Administrators’ sole discretion, may, subject to any relevant resolutions of the Board, and without liability to any
    person, make such changes or adjustments, if any, as the Administrators consider fair or equitable, in such manner as the Administrators
    may determine, to reflect such change or event including, without limitation, adjusting the number of Options and Restricted Share
    Units outstanding under this Plan, the type and number of securities or other property to be received upon exercise or redemption
    thereof, and the exercise price of Options outstanding under this Plan, provided that the value of any Option or Restricted Share
    Unit immediately after such an adjustment, as determined by the Administrators, shall not exceed the value of such Option or Restricted
    Share Unit prior thereto, as determined by the Administrators.

 

    	15

    	 

    

 

	 	(b)	Notwithstanding
    the foregoing, with respect to Options and Restricted Share Units of U.S. Participants, such changes or adjustments will be made
    in a manner so as to not result in the imposition of taxes under Section 409A of the Code and will comply with the requirements in
    subsection 4.3(d).
	 	 	 
	 	(c)	The
    Company shall give notice to each Participant in the manner determined, specified or approved by the Administrators of any change
    or adjustment made pursuant to this section and, upon such notice, such adjustment shall be conclusive and binding for all purposes.
	 	 	 
	 	(d)	The
    Administrators may from time to time adopt rules, regulations, policies, guidelines or conditions with respect to the exercise of
    the power or authority to make changes or adjustments pursuant to section 6.2 or section 6.3(a). The Administrators, in making any
    determination with respect to changes or adjustments pursuant to section 6.2 or section 6.3(a) shall be entitled to impose such conditions
    as the Administrators consider or determine necessary in the circumstances, including conditions with respect to satisfaction or
    payment of all applicable taxes (including, but not limited to, withholding taxes).

 

	6.4	Amendment
    or Termination of Plan:
	 	 
	 	The
Board may amend this Plan or any Restricted Share Unit or any Option at any time without the consent of Participants provided that such
amendment shall:

  

	 	(a)	not
    adversely alter or impair any Restricted Share Unit previously awarded or any Option previously granted except as permitted by the
    provisions of section 6.3 hereof, and, with respect to Restricted Share Units and Options of U.S. Participants, such amendment will
    not result in the imposition of taxes under Section 409A;
	 	 	 
	 	(b)	be
    subject to any regulatory approvals including, where required, the approval of the Exchange; and 
	 	 	 
	 	(c)	be
    subject to shareholder approval, where required by the requirements of the Exchange, provided that shareholder approval shall not
    be required for the following amendments: 

 

	 	(i)	amendments
    of a “housekeeping nature”, including any amendment to the Plan or a Restricted Share Unit or Option that is necessary
    to comply with applicable laws, tax or accounting provisions or the requirements of any regulatory authority or stock exchange and
    any amendment to the Plan or a Restricted Share Unit or Option to correct or rectify any ambiguity, defective provision, error or
    omission therein, including any amendment to any definitions therein;

 

    	16

    	 

    

 

	 	(ii)	amendments
    that are necessary or desirable for Restricted Share Units or Options to qualify for favourable treatment under any applicable tax
    law;
	 	 	 
	 	(iii)	a
    change to the vesting provisions of any Restricted Share Unit or any Option (including any alteration, extension or acceleration
    thereof);
	 	 	 
	 	(iv)	a
    change to the termination provisions of any Option or Restricted Share Units (for example, relating to termination of employment,
    resignation, retirement or death) that does not entail an extension beyond the original expiration date (as such date may be extended
    by virtue of section 5.4);
	 	 	 
	 	(v)	the
    introduction of features to the Plan that would permit the Company to, instead of issuing Common Shares from treasury upon the vesting
    of the Restricted Share Units, retain a broker and make payments for the benefit of Participants to such broker who would purchase
    Common Shares in the open market for such Participants; 
	 	 	 
	 	(vi)	the
    amendment of this Plan as it relates to making lump sum payments to Participants upon the vesting of the Restricted Share Units;
	 	 	 
	 	(vii)	the
    amendment of the cashless exercise feature set out in this Plan; and
	 	 	 
	 	(viii)	change
    the application of section 6.3 hereof (Reorganization Adjustments) and section 6.2 (Change of Control), and

 

	 	(d)	be
    subject to disinterested shareholder approval in the event of any reduction in the exercise price of any Option granted under the
    Plan to an Insider Participant.
	 	 	 
	 	For greater certainty, shareholder approval shall be required in circumstances where an amendment to the Plan would:
	 	 	 
	 	(a)	change
    from a fixed maximum percentage of issued and outstanding Common Shares to a fixed maximum number of Common Shares;
	 	 	 
	 	(b)	increase
    the limits in section 2.2; 
	 	 	 
	 	(c)	reduce
    the exercise price of any Option (including any cancellation of an Option for the purpose of reissuance of a new Option at a lower
    exercise price to the same person); 
	 	 	 
	 	(d)	extend
    the term of any Option beyond the original term (except if such period is being extended by virtue of section 5.4 hereof); or
	 	 	 
	 	(e)	amend
    this section 6.4.

 

	6.5	Termination:
    The Administrators may terminate this Plan at any time in their absolute discretion. If the Plan is so terminated, no further
    Restricted Share Units shall be awarded and no further Options shall be granted, but the Restricted Shares Units then outstanding
    and credited to Participants’ Accounts and the Options then outstanding shall continue in full force and effect in accordance
    with the provisions of this Plan. Any termination of this Plan shall occur in a manner that will not result in the imposition of
    taxes on a U.S. Participant under Section 409A.

 

    	17

    	 

    

 

	6.6	Transferability:
    A Participant shall not be entitled to transfer, assign, charge, pledge or hypothecate, or otherwise alienate, whether by operation
    of law or otherwise, the Participant’s Restricted Share Units or Options or any rights the Participant has under the Plan.
	 	 
	6.7	Rights
    as a Shareholder: Under no circumstances shall the Restricted Share Units or Options be considered Common Shares nor shall they
    entitle any Participant to exercise voting rights or any other rights attaching to the ownership of Common Shares (including, but
    not limited to, the right to dividend equivalent payments).
	 	 
	6.8	Credits
    for Dividends: Unless otherwise determined by the Administrators, whenever cash or other dividends are paid on Common Shares,
    additional Restricted Share Units will be automatically granted to each Participant who holds Restricted Share Units on the record
    date for such dividends. The number of such Restricted Share Units (rounded to the nearest whole Restricted Share Units) to be credited
    to such Participant as of the date on which the dividend is paid on the Common Shares shall be an amount equal to the quotient obtained
    when (i) the aggregate value of the cash or other dividends that would have been paid to such Participant if the Participant’s
    Restricted Share Units as of the record date for the dividend had been Common Shares, is divided by (ii) the Market Value of the
    Common Shares as of the date on which the dividend is paid on the Common Shares. Restricted Share Units granted to a Participant
    shall be subject to the same vesting conditions (time and performance (as applicable)) as the Restricted Share Units to which they
    relate.
	 	 
	6.9	No
    Effect on Employment or Service, Rights or Benefits:

 

	 	(a)	The
    terms of employment or service shall not be affected by participation in the Plan.
	 	 	 
	 	(b)	Nothing
    contained in the Plan shall confer or be deemed to confer upon any Participant the right to continue as a director, officer, employee
    or Consultant nor interfere or be deemed to interfere in any way with any right of the Company, the Board or the shareholders of
    the Company to remove any Participant from the Board or of the Company or any Affiliate to terminate any Participant’s employment
    or agreement with a Consultant at any time for any reason whatsoever. 
	 	 	 
	 	(c)	Under
    no circumstances shall any person who is or has at any time been a Participant be able to claim from the Company or any Affiliate
    any sum or other benefit, or any damages in lieu of such sum or benefit, to compensate for the loss of any rights or benefits under
    or in connection with this Plan or by reason of participation in this Plan. 

 

	6.10	Market
    Value of Common Shares: The Company makes no representation or warranty as to the future market value of any Common Shares. No
    Participant shall be entitled, either immediately or in the future, either absolutely or contingently, to receive or obtain any amount
    or benefit granted to or to be granted for the purpose of reducing the impact, in whole or in part, of any reduction in the market
    value of the shares of the Company or a company related thereto.

 

    	18

    	 

    

 

	6.11	Compliance
    with Applicable Law:

 

	 	(a)	If
    any provision of the Plan contravenes any law or any order, policy, by-law or regulation of any regulatory body having jurisdiction,
    then such provision shall be deemed to be amended to the extent necessary to bring such provision into compliance therewith. Notwithstanding
    the foregoing, the Company shall have no obligation to register any securities provided for in this Plan under the 1933 Act. 
	 	 	 
	 	(b)	The
    award of Restricted Share Units, the grant of Options and the issuance of Common Shares under this Plan shall be carried out in compliance
    with applicable statutes and with the regulations of governmental authorities and any applicable stock exchange. If the Administrators
    determine in their discretion that, in order to comply with any such statutes or regulations, certain action is necessary or desirable
    as a condition of or in connection with the award of a Restricted Share Unit, the grant of an Option or the issue of a Common Share
    upon the vesting of a Restricted Share Unit or exercise of an Option, as applicable, that Restricted Share Unit may not vest in whole
    or in part and that Option may not be exercised in whole or in part, as applicable, unless that action shall have been completed
    in a manner satisfactory to the Administrators. In addition, unless the Restricted Share Units, the Options and the Common Shares
    issuable pursuant to the Restricted Share Units and Options, as applicable, have been registered under the 1933 Act and any applicable
    U.S. state securities laws, all rights of a Participant under this Plan shall be subject to and conditioned upon the availability
    of exemptions or exclusions from the registration requirements of the 1933 Act and any applicable U.S. state securities laws, as
    determined by the Company in its sole discretion. 

 

	6.12	Governing
    Law: This Plan shall be governed by and construed in accordance with the laws of the Province of British Columbia and the laws
    of Canada applicable therein, and with respect to U.S. Participants, the Code.
	 	 
	6.13	Subject
    to Approval: The Plan is adopted subject to the approval of the Exchange and any other required regulatory approval. To the extent
    a provision of the Plan requires regulatory approval which is not received, such provision shall be severed from the remainder of
    the Plan until the approval is received and the remainder of the Plan shall remain in effect.
	 	 
	6.14	Clawback
    Provision: Notwithstanding any other provision of this Plan, any Restricted Share Unit or Option issued, granted, or awarded
    to any Participant, and any Common Shares issued thereunder, and any amount received by any Participant with respect to any such
    Restricted Share Unit, Option, or Common Shares, shall be subject to cancellation, rescission, forfeiture, recovery, or other action
    in accordance with the terms of the Company’s Clawback Policy. The Company will have a right to cancel, rescind, or otherwise
    recover from such Participant for the benefit of the Company, and such Participant will be required to forfeit or repay to the Company
    the amount determined by the Administrators in accordance with the Clawback Policy. 

 

    	19

    	 

    

 

	7.	U.S.
    TAXPAYERS 
	 	 
	7.1	Provisions
    for U.S. Taxpayers: In the case of a Participant who is a U.S. taxpayer, Options may only be awarded to such Participant to the
    extent the Participant performs direct services to (A) the Corporation or any entity (other than the Corporation), in an unbroken
    chain of Corporations (or other entities) beginning with the Corporation in which each of the Corporations (or other entities) other
    than the last corporation or other entity in the unbroken chain owns, directly or indirectly, equity representing at least 50% of
    the voting power of all classes of equity entitled to vote or at least 50% of the value of all classes of equity in one of the other
    companies (or other entities) in such chain, or (B) to an entity that otherwise qualifies as an eligible issuer of service recipient
    stock pursuant to U.S. Treasury Regulation Section 1.409A-1(b)(5)(iii)(E)(1). Options granted under this Plan to U.S. taxpayers may
    be non-qualified stock options or incentive stock options qualifying under Section 422 of the Code (“ISOs”). Each Option
    shall be designated in the Award Agreement as either an ISO or a non-qualified stock option, and if no designation is made, the Option
    will be a non-qualified stock option. The Corporation shall not be liable to any Participant or to any other Person if it is determined
    that an Option intended to be an ISO does not qualify as an ISO.
	 	 
	7.2	ISOs:
    Subject to any limitations in Section 2.2, the aggregate number of Shares reserved for issuance in respect of the exercise of ISOs shall
    not exceed 2,000,000 Common Shares, and the terms and conditions of any ISOs granted to
    a U.S. Taxpayer on the Grant Date hereunder, including the eligible recipients of ISOs, shall be subject to the provisions of Section
    422 of the Code, and the terms, conditions, limitations and administrative procedures established by the Administrator from time
    to time in accordance with this Plan. At the discretion of the Administrator, ISOs may be granted to any employee of the Corporation,
    or of a “parent corporation” or “subsidiary corporation”, as such terms are defined in Sections 424(e) and
    (f) of the Code. No ISOs may be granted more than ten (10) years after the earlier of (i) the date on which the Board adopts the
    most recent amendment and restatement of the Plan, or (ii) the date on which the shareholders of the Corporation approve such most
    recent amendment and restatement of the Plan. An ISO may be exercised during the Participant’s lifetime only by such the Participant.
    An ISO may not be transferred, assigned, pledged, hypothecated or otherwise disposed of by the Participant, except by will or by
    the laws of descent and distribution.
	 	 
	7.3	ISO
    Term and Exercise Price; Grants to 10% Shareholders: Notwithstanding anything to the contrary in this Plan, the term of an ISO
    shall not exceed ten (10) years, and the exercise price of an ISO shall be not less than one hundred percent (100%) of the Fair Market
    Value on the applicable grant date; provided, however, that if an ISO is granted to a person who owns shares representing more than
    10% of the voting power of all classes of shares of the Corporation or of a “parent corporation” or “subsidiary
    corporation”, as such terms are defined in Section 424(e) and (f) of the Code, on the Grant Date, the term of the ISO shall
    not exceed five years from the time of grant of such ISO and the exercise price shall be at least 110% of the Fair Market Value of
    the Shares subject to the ISO.
	 	 
	7.4	$100,000
    Limit Per Year for ISOs: To the extent the aggregate Fair Market Value as at the Grant Date of the Shares for which ISOs are
    exercisable for the first time by any person during any calendar year (under all plans of the Corporation) exceeds $100,000, such
    excess ISOs shall be treated as non-qualified stock options.

 

    	20

    	 

    

 

	7.5	Disqualifying
    Dispositions: Each person awarded an ISO under this Plan shall notify the Corporation in writing immediately after the date the
    Participant makes a disposition or transfer of any Shares acquired pursuant to the exercise of such ISO if such disposition or transfer
    is made (a) within two years from the Grant Date or (b) within one year after the date such person acquired the Shares. Such notice
    shall specify the date of such disposition or other transfer and the amount realized, in cash, other property, assumption of indebtedness
    or other consideration, by the person in such disposition or other transfer. The Corporation may, if determined by the Administrator
    and in accordance with procedures established by it, retain possession of any Shares acquired pursuant to the exercise of an ISO
    as agent for the applicable person until the end of the later of the periods described in (a) or (b) above, subject to complying
    with any instructions from such person as to the sale of such Shares.
	 	 
	7.6	ISO
    Status Following Termination of Employment: An ISO shall be exercisable in accordance with its terms under the Plan and the applicable
    Award Agreement or certificate awarding the ISO. However, in order to retain its treatment as an ISO for U.S. federal income tax
    purposes, the ISO must be exercised within the time periods set forth below. If an ISO is not exercised within the time periods below,
    but the Option otherwise would remain exercisable following such time periods pursuant to the terms of the Award Agreement, then,
    following the expiration of the time periods below without exercise the ISO will be converted to a non-qualified stock option.

 

	 	(a)	If
    a Participant who has been granted an ISO ceases to be an employee for any reason other than the death or disability (within the
    meaning of Code Section 22(e)) of such Participant, such ISO must be exercised (to the extent such ISO was exercisable on the date
    of termination) by such Participant within three months following the date of termination (but in no event beyond the expiration
    date of such ISO).
	 	 	 
	 	(b)	If
    a Participant who has been granted an ISO ceases to be an employee due to the disability of such (within the meaning of Code Section
    22(e)), such ISO must be exercised (to the extent it is exercisable by its terms) by the date that is one year following the date
    of such disability, but in no event beyond the expiration date of such ISO.
	 	 	 
	 	(c)	For
    purposes of this Section 8.6, the employment of a Participant who has been granted an ISO will not be considered interrupted or terminated
    upon (a) sick leave, military leave or any other leave of absence approved by the Corporation that does not exceed ninety (90) days
    in the aggregate; provided, however, that if reemployment upon the expiration of any such leave is guaranteed by contract or applicable
    law, such ninety (90) day limitation will not apply, or (b) a transfer from one office of the Corporation (or of any parent or subsidiary
    of the Corporation as defined in Code Sections 424(e) and (f)) to another office of the Corporation (or of any such parent or subsidiary)
    or a transfer between the Corporation and any such parent or subsidiary.

 

    	21

    	 

    

 

	7.7	Shareholder
    Approval for ISO purposes: In the event the Plan is not approved by the shareholders of the Corporation in accordance with the
    requirements of Section 422 of the Code within twelve (12) months of the date of adoption of the Plan (or the date of any later restatement
    of the Plan that adds or changes ISO provisions requiring shareholder approval), Options otherwise designated as Incentive Stock
    Options will be non-qualified stock options.
	 	 
	7.8	Section
    409A of the Code: Options issued to U.S. Participants are intended to be exempt from Section 409A of the Code pursuant to Treas.
    Reg. Section 1.409A-1(b)(5)(i)(A) and the Plan and such Options will be construed and administered accordingly. Options may be issued
    to U.S. Participants under the Plan only if the shares with respect to the Options qualify as “service recipient stock”
    as defined in Treas. Reg. Section 1.409A-1(b)(5)(E)(iii). Restricted Share Units awarded to U.S. Participants are intended to be
    compliant with Section 409A of the Code and such Restricted Share Units will be construed and administered accordingly. Any waiver
    or acceleration of vesting under the Plan or any Restricted Share Unit Agreement for a U.S. Participant may occur only to the extent
    that such acceleration or waiver will not result in the imposition of taxes under Section 409A of the Code. Any payments made under
    this Plan or any Restricted Share Unit Agreement to a U.S. Participant as a result of a termination of employment that are deemed
    to be subject to Section 409A of the Code shall occur only if such termination constitutes a “separation from service”
    as defined in Treas. Reg. 1.409A-1(h). Additionally, any payments resulting from a separation from service made to a U.S. Participant
    who is a “specified employee” as defined in Treas. Reg. 1.409A-1(i) shall be subject to the six month delay in payments
    required by Treas. Reg. 1.409A-1(3)(v) if such payments are deemed to be subject to Section 409A of the Code. Although the Company
    intends Options and Restricted Share Units granted to U.S. Participants to be exempt from or compliant with Section 409A, the Company
    makes no representation or guaranty as to the tax treatment of such Options and Restricted Share Units. Each U.S. Participant (and
    any beneficiary or the estate of the Participant, as applicable) is solely responsible and liable for the satisfaction of all taxes
    and penalties that may be imposed on or for the account of such U.S. Participant in connection with this Plan. Neither the Company
    nor any affiliate, nor any employee or director of the Company or an affiliate, shall have any obligation to indemnify or otherwise
    hold such U.S. Participant, beneficiary or estate harmless from any or all such taxes or penalties.
	 	 
	7.9	Section
    83(b) of the Code: If a Participant makes an election pursuant to Section 83(b) of the Code with respect to an award of Shares
    subject to vesting or other forfeiture conditions, the Participant shall be required to promptly file a copy of such election with
    the Company.

 

    	22

    	 

    

 

EXhibit
A-1 U.s. participant

 

RESTRICTED
SHARE UNIT AGREEMENT

 

Notice
is hereby given that, effective this ________ day of ________________, __________ (the “Restricted Share Grant Date”)
Strong Global Entertainment, Inc. (the “Company”) has granted to ___________________________________________ (the
“Participant”), ______________ Restricted Share Units pursuant to the Company’s Share Compensation Plan (the
“Plan”), a copy of which has been provided to the Participant.

 

Restricted
Share Units are subject to the following terms:

 

	 	(a)	Pursuant
    to the Plan and as compensation to the Participant, the Company hereby grants to the Participant, as of the Restricted Share Grant
    Date, the number of Restricted Share Units set forth above.
	 	 	 
	 	(b)	The
    granting and vesting of the Restricted Share Units and the payment by the Company of any payout in respect of any Vested Restricted
    Share Units (as defined below) are subject to the terms and conditions of the Plan, all of which are incorporated into and form an
    integral part of this Restricted Share Unit Agreement.
	 	 	 
	 	(c)	The
    Restricted Share Units shall become vested restricted share units (the “Vested Restricted Share Units”) in accordance
    with the following schedule:

 

	 	(i)	[●
    on the 6 month anniversary of the Restricted Share Grant Date;
	 	 	 
	 	(ii)	●
    on the 12 month anniversary of the Restricted Share Grant Date;
	 	 	 
	 	(iii)	●
    on the 18 month anniversary of the Restricted Share Grant Date; and
	 	 	 
	 	(iv)	●
on the 24 month anniversary of the Restricted Share Grant Date (each a “Vesting Date”).]1

 

	 	(d)	As
    soon as reasonably practicable and no later than 60 days following the Vesting Date, or, if the Participant is not a U.S. Participant
    (as defined in the Plan), such later date mutually agreed to by the Company and the Participant, the Participant shall be entitled
    to receive, and the Company shall issue or provide, a payout with respect to those Vested Restricted Share Units in the Participant’s
    Account to which the Vesting Date relates (each a “Payout Date”):

 

	 	(i)	a
    lump sum payment in cash equal to the number of vested Restricted Share Units recorded in the Participant’s Account multiplied
    by the Market Value of a Common Share on the Payout Date;

 

 

1
Note to Draft. Vesting schedule to be determined.

 

    	23

    	 

    

 

	 	(ii)	the
    number of Common Shares required to be issued to a Participant upon the vesting of such Participant’s Restricted Share Units
    in the Participant’s Account, duly issued as fully paid and non-assessable shares and such Participant shall be registered
    on the books of the Company as the holder of the appropriate number of Common Shares; or
	 	 	 
	 	(iii)	any
    combination of the foregoing.
	 	 	 
	 	 	subject
    to any applicable Withholding Obligations. 

 

	 	(e)	The
    Participant acknowledges that:

 

	 	(i)	the
    Participant has received and reviewed a copy of the Plan; and
	 	 	 
	 	(ii)	the
    Restricted Share Units have been granted to the Participant under the Plan and are subject to all of the terms and conditions of
    the Plan to the same effect as if all of such terms and conditions were set forth in this Restricted Share Unit Agreement, including
    with respect to termination and forfeiture as set out in Section 4.7 of the Plan.

 

Notwithstanding
anything to the contrary in this Restricted Share Unit Agreement:

 

	 	(a)	[all
    vesting and issuances or payments, as applicable, in respect of a Restricted Share Unit evidenced hereby shall be completed no later
    than December 15 of the third calendar year commencing after the Restricted Share Grant Date]; and
	 	 	 
	 	(b)	any
    Restricted Share Unit issued, granted, or awarded to the Participant, and any shares issued thereunder, and any amount received by
    the Participant with respect to any such Restricted Share Unit or shares, shall be subject to cancellation, rescission, forfeiture,
    recovery, or other action in accordance with the terms of the clawback policy of the Company as it may be amended, replaced, or restated
    from time to time (the “Clawback Policy”). The Company will have a right to cancel, rescind, or otherwise recover
    from the Participant for the benefit of the Company, and the Participant will forfeit or repay to the Company the amount determined
    by the Administrators in accordance with the Clawback Policy. The Participant agrees and consents to the Company’s application,
    implementation and enforcement of (a) the Clawback Policy or any similar policy established by the Company that may apply to the
    Participant and (b) any provision of applicable law relating to cancellation, rescission, forfeiture, recovery, or other action,
    and expressly agrees that the Company may take such actions as are necessary to effectuate the Clawback Policy, any similar policy
    (as applicable to the Participant) or applicable law without further consent or action being required by the Participant. To the
    extent that the terms of this Restricted Share Unit Agreement and the Clawback Policy or any similar policy conflict, then the terms
    of such policy shall prevail.

 

The
grant of the Restricted Share Units evidenced hereby is made subject to the terms and conditions of the Plan. The Participant agrees
that the Participant may suffer tax consequences as a result of the grant of these Restricted Share Units and the vesting of the Restricted
Share Units. The Participant acknowledges that the Participant is not relying on the Company for any tax advice and has had an adequate
opportunity to obtain advice of independent tax counsel.

 

    	24

    	 

    

 

This
Restricted Share Unit Agreement may be executed and delivered by the parties in one or more counterparts, each of which will be an original,
and those counterparts will together constitute one and the same instrument. Execution and delivery of this Restricted Share Unit Agreement
by facsimile, e-mail or other functionally equivalent electronic means of execution and transmission constitutes valid and effective
execution and delivery.

 

In
the event of any inconsistency between the terms of this Restricted Share Unit Agreement and the Plan, the terms of the Plan shall prevail
unless otherwise determined in the Plan.

 

	STRONG
    GLOBAL ENTERTAINMENT, INC.	 	 
	 	 	 
	 	 	 
	Authorized
    Signatory	 	Signature
    of Participant
	 	 	 
	 	 	 
	 	 	Name
    of Participant

 

    	25

    	 

    

 

exhibit
a – 2 CANADIAN participant

 

RESTRICTED
SHARE UNIT AGREEMENT

 

Notice
is hereby given that, effective this ________ day of ________________, __________ (the “Restricted Share Grant Date”)
Strong Global Entertainment, Inc. (the “Company”) has granted to ___________________________________________ (the
“Participant”), ______________ Restricted Share Units pursuant to the Company’s Share Compensation Plan (the
“Plan”), a copy of which has been provided to the Participant. Capitalized terms not defined herein shall have the
meaning set forth in the Plan.

 

Restricted
Share Units are subject to the following terms:

 

	 	(a)	Pursuant
    to the Plan and as compensation to the Participant, the Company hereby grants to the Participant, as of the Restricted Share Grant
    Date, the number of Restricted Share Units set forth above.
	 	 	 
	 	(b)	The
    granting and vesting of the Restricted Share Units and the payment by the Company of any payout in respect of any Vested Restricted
    Share Units (as defined below) are subject to the terms and conditions of the Plan, all of which are incorporated into and form an
    integral part of this Restricted Share Unit Agreement.
	 	 	 
	 	(c)	The
    Restricted Share Units shall become vested restricted share units (the “Vested Restricted Share Units”) in accordance
    with the following schedule:

 

	 	(i)	[●
    on the 6 month anniversary of the Restricted Share Grant Date;
	 	 	 
	 	(ii)	●
    on the 12 month anniversary of the Restricted Share Grant Date;
	 	 	 
	 	(iii)	●
    on the 18 month anniversary of the Restricted Share Grant Date; and
	 	 	 
	 	(iv)	●
    on the 24 month anniversary of the Restricted Share Grant Date (each a “Vesting Date”).]2

 

	 	(d)	As
    soon as reasonably practicable following the Vesting Date, the Participant shall be entitled to receive, and the Company shall issue
    or provide, a payout with respect to those Vested Restricted Share Units in the Participant’s Account to which the Vesting
    Date relates (each a “Payout Date”):

 

	 	(i)	a
    lump sum payment in cash equal to the number of vested Restricted Share Units recorded in the Participant’s Account multiplied
    by the Market Value of a Common Share on the Payout Date;
	 	 	 
	 	(ii)	the
    number of Common Shares required to be issued to a Participant upon the vesting of such Participant’s Restricted Share Units
    in the Participant’s Account, duly issued as fully paid and non-assessable shares and such Participant shall be registered
    on the books of the Company as the holder of the appropriate number of Common Shares; or

 

 

2
Note to Draft. Vesting schedule to be determined.

 

    	26

    	 

    

 

	 	(iii)	any
    combination of the foregoing.
	 	 	 
	 	 	subject
    to any applicable Withholding Obligations. 

 

	 	(e)	The
    Participant acknowledges that:

 

	 	(i)	the
    Participant has received and reviewed a copy of the Plan; and
	 	 	 
	 	(ii)	the
    Restricted Share Units have been granted to the Participant under the Plan and are subject to all of the terms and conditions of
    the Plan to the same effect as if all of such terms and conditions were set forth in this Restricted Share Unit Agreement, including
    with respect to termination and forfeiture as set out in Section 4.7 of the Plan.

 

Notwithstanding
anything to the contrary in this Restricted Share Unit Agreement:

 

	 	(a)	all
    vesting and issuances or payments, as applicable, in respect of a Restricted Share Unit evidenced hereby shall be completed no later
    than December 15 of the third calendar year commencing after the Restricted Share Grant Date; and
	 	 	 
	 	(b)	any
    Restricted Share Unit issued, granted, or awarded to the Participant, and any shares issued thereunder, and any amount received by
    the Participant with respect to any such Restricted Share Unit or shares, shall be subject to cancellation, rescission, forfeiture,
    recovery, or other action in accordance with the terms of the clawback policy of the Company as it may be amended, replaced, or restated
    from time to time (the “Clawback Policy”). The Company will have a right to cancel, rescind, or otherwise recover
    from the Participant for the benefit of the Company, and the Participant will forfeit or repay to the Company the amount determined
    by the Administrators in accordance with the Clawback Policy. The Participant agrees and consents to the Company’s application,
    implementation and enforcement of (a) the Clawback Policy or any similar policy established by the Company that may apply to the
    Participant and (b) any provision of applicable law relating to cancellation, rescission, forfeiture, recovery, or other action,
    and expressly agrees that the Company may take such actions as are necessary to effectuate the Clawback Policy, any similar policy
    (as applicable to the Participant) or applicable law without further consent or action being required by the Participant. To the
    extent that the terms of this Restricted Share Unit Agreement and the Clawback Policy or any similar policy conflict, then the terms
    of such policy shall prevail.

 

The
grant of the Restricted Share Units evidenced hereby is made subject to the terms and conditions of the Plan. The Participant agrees
that the Participant may suffer tax consequences as a result of the grant of these Restricted Share Units and the vesting of the Restricted
Share Units. The Participant acknowledges that the Participant is not relying on the Company for any tax advice and has had an adequate
opportunity to obtain advice of independent tax counsel.

 

    	27

    	 

    

 

This
Restricted Share Unit Agreement may be executed and delivered by the parties in one or more counterparts, each of which will be an original,
and those counterparts will together constitute one and the same instrument. Execution and delivery of this Restricted Share Unit Agreement
by facsimile, e-mail or other functionally equivalent electronic means of execution and transmission constitutes valid and effective
execution and delivery.

 

In
the event of any inconsistency between the terms of this Restricted Share Unit Agreement and the Plan, the terms of the Plan shall prevail
unless otherwise determined in the Plan.

 

[Remainder
of page intentionally blank. Signature pages follow.]

 

    	28

    	 

    

 

IN
WITNESS WHEREOF the Company has executed this Restricted Share Unit Agreement as of [Date].

 

	STRONG
    GLOBAL ENTERTAINMENT, INC.	 
	 	 
	 	 
	Authorized
    Signatory	 

 

[Remainder
of page intentionally blank. Participant signature pages follow.]

 

    	29

    	 

    

 

Participant
Acknowledgement, Representation and Waiver

 

Please
insert your initials beside each of the statements in the Acknowledgement, Representation and Waiver below to confirm that you understand
and agree, and then confirm your acceptance of the Agreement on the signature page that follows.

 

	Insert
    your initials here 	Acknowledgement,
Representation and Waiver
	 	I
                                            understand that the Company is relying on my acknowledgement, representation and waiver in
                                            granting the Restricted Share Units to me.

     

	 	It
                                            is my express wish that this document and all related documents be drawn up in English. À
                                            ma demande, le présent document ainsi que les documents qui s’y rattachent ont
                                            été rédigés en anglais.

     

	 	I
                                            acknowledge that I have been provided with a copy of the Plan.

     

	 	Before
                                            accepting this grant, I have had the opportunity to receive independent legal advice from
                                            my own counsel with respect to the terms of the Plan and this Restricted Share Unit Agreement.

     

	 	I
                                            understand that this grant is governed by the Plan and this Restricted Share Unit Agreement.

     

    I
    acknowledge that I have reviewed these documents fully and I understand them.

     

    I
    agree to all of the terms and conditions set out in the Plan and this Restricted Share Unit Agreement.

     

	 	I
                                            have not been induced to enter into this Restricted Share Unit Agreement or acquire any Restricted
                                            Share Units by expectation of employment or continued employment with the Company or any
                                            Affiliate of the Company.

     

	 	I
                                            represent that the provisions that impose limitations and forfeiture consequences
                                            if my employment or service ceases for any reason, and particularly, each of:

     

    ●     Plan
    Section 1.1 – definition of “Event of Termination”

     

    ●     Plan
    Section 1.1 – definition of “Notification Date” 

     

    ●     Plan
    Section 4.7 (Rights upon an Event of Termination) 

     

    ●     Plan
    Section 7.4 (Clawback Provision) 

     

    ●     Plan
    Section 7.9 (No Effect on Employment or Service, Rights or Benefits)

     

    have
    been adequately brought to my attention, and I have reviewed and understood them.

     

	 	Accordingly,
                                            I waive irrevocably any right I may have to assert that the terms of the Plan and this Restricted
                                            Share Unit Agreement should not be binding on me because they were not brought to my attention,
                                            were not read by me, or were not understood by me, even if, before accepting this
                                            grant and despite my representation to the contrary, I did not in fact fully read and understand
                                            those documents.

     

 

IN
WITNESS WHEREOF the Participant has executed this Restricted Share Unit Agreement as of [Date].

 

	 	 
	 	Signature
    of Participant
	 	 
	 	 
	 	Name
    of Participant

 

    	30

    	 

    

 

exhibit
B-1 – u.s. participant

 

Option
Agreement

 

Notice
is hereby given that, effective this ________ day of ________________, __________ (the “Effective Date”) Strong Global
Entertainment, Inc. (the “Company”) has granted to ___________________________________________ (the “Participant”),
Options3 to acquire ______________ Common Shares (the “Optioned Shares”) up to 4:30 p.m. Pacific Time
on the __________ day of ____________________, __________ (the “Option Expiration Date”) at an exercise price of US$____________
per Optioned Share pursuant to the Company’s Share Compensation Plan (the “Plan”), a copy of which is attached
hereto.

 

Optioned
Shares may be acquired as follows:

 

	 	(a)	[insert
    vesting provisions, if applicable]; and
	 	 	 
	 	(b)	[insert
    hold period when required]. 

 

The
grant of the Options evidenced hereby and the Option Expiration Date thereof, is made subject to the terms and conditions of the Plan.
The Participant agrees that the Participant may suffer tax consequences as a result of the grant of these Options, the exercise of the
Options and the disposition of Optioned Shares. The Participant acknowledges that the Participant is not relying on the Company for any
tax advice and has had an adequate opportunity to obtain advice of independent tax counsel.

 

Notwithstanding
anything to the contrary in this Option Agreement, any Option granted to the Participant, and any Optioned Shares issued thereunder,
and any amount received by the Participant with respect to any such Option or Optioned Shares, shall be subject to cancellation, rescission,
forfeiture, recovery, or other action in accordance with the terms of the clawback policy of the Company as it may be amended, replaced,
or restated from time to time (the “Clawback Policy”). The Company will have a right to cancel, rescind, or otherwise
recover from such Participant for the benefit of the Company, and such Participant will be required to forfeit or repay to the Company
the amount determined by the Administrators in accordance with the Clawback Policy. The Participant agrees and consents to the Company’s
application, implementation and enforcement of (a) the Clawback Policy or any similar policy established by the Company that may apply
to the Participant and (b) any provision of applicable law relating to cancellation, rescission, forfeiture, recovery, or other action,
and expressly agrees that the Company may take such actions as are necessary to effectuate the Clawback Policy, any similar policy (as
applicable to the Participant) or applicable law without further consent or action being required by the Participant. To the extent that
the terms of this Option Agreement and the Clawback Policy or any similar policy conflict, then the terms of such policy shall prevail.

 

 

3
Note to Draft. For U.S. employees indicate whether the options are incentive stock options or non-qualified stock options.

 

    	31

    	 

    

 

This
Option Agreement may be executed and delivered by the parties in one or more counterparts, each of which will be an original, and those
counterparts will together constitute one and the same instrument. Execution and delivery of this Option Agreement by facsimile, e-mail
or other functionally equivalent electronic means of execution and transmission constitutes valid and effective execution and delivery.

 

In
the event of any inconsistency between the terms of this Option Agreement and the Plan, the terms of the Plan shall prevail.

 

	STRONG
    GLOBAL ENTERTAINMENT, INC.	 	 
	 	 	 
	 	 	 
	Authorized
    Signatory	 	Signature
    of Participant
	 	 	 
	 	 	 
	 	 	Name
    of Participant

 

    	32

    	 

    

 

exhibit
B- 2 – canadian participant

 

Option
Agreement

 

Notice
is hereby given that, effective this ________ day of ________________, __________ (the “Effective Date”) Strong Global
Entertainment, Inc. (the “Company”) has granted to ___________________________________________ (the “Participant”),
Options to acquire ______________ Common Shares (the “Optioned Shares”) up to 4:30 p.m. Pacific Time on the __________
day of ____________________, __________ (the “Option Expiration Date”) at an exercise price of US$____________ per
Optioned Share pursuant to the Company’s Share Compensation Plan (the “Plan”), a copy of which is attached hereto.
Capitalized terms not defined herein shall have the meaning set forth in the Plan.

 

Optioned
Shares may be acquired as follows:

 

	 	(a)	[insert
    vesting provisions, if applicable]; and
	 	 	 
	 	(b)	[insert
    hold period when required]. 

 

The
grant of the Options evidenced hereby and the Option Expiration Date thereof, is made subject to the terms and conditions of the Plan.
The Participant agrees that the Participant may suffer tax consequences as a result of the grant of these Options, the exercise of the
Options and the disposition of Optioned Shares. The Participant acknowledges that the Participant is not relying on the Company for any
tax advice and has had an adequate opportunity to obtain advice of independent tax counsel.

 

Notwithstanding
anything to the contrary in this Option Agreement, any Option granted to the Participant, and any Optioned Shares issued thereunder,
and any amount received by the Participant with respect to any such Option or Optioned Shares, shall be subject to cancellation, rescission,
forfeiture, recovery, or other action in accordance with the terms of the clawback policy of the Company as it may be amended, replaced,
or restated from time to time (the “Clawback Policy”). The Company will have a right to cancel, rescind, or otherwise
recover from such Participant for the benefit of the Company, and such Participant will be required to forfeit or repay to the Company
the amount determined by the Administrators in accordance with the Clawback Policy. The Participant agrees and consents to the Company’s
application, implementation and enforcement of (a) the Clawback Policy or any similar policy established by the Company that may apply
to the Participant and (b) any provision of applicable law relating to cancellation, rescission, forfeiture, recovery, or other action,
and expressly agrees that the Company may take such actions as are necessary to effectuate the Clawback Policy, any similar policy (as
applicable to the Participant) or applicable law without further consent or action being required by the Participant. To the extent that
the terms of this Option Agreement and the Clawback Policy or any similar policy conflict, then the terms of such policy shall prevail.

 

This
Option Agreement may be executed and delivered by the parties in one or more counterparts, each of which will be an original, and those
counterparts will together constitute one and the same instrument. Execution and delivery of this Option Agreement by facsimile, e-mail
or other functionally equivalent electronic means of execution and transmission constitutes valid and effective execution and delivery.

 

In
the event of any inconsistency between the terms of this Option Agreement and the Plan, the terms of the Plan shall prevail.

 

[Remainder
of page intentionally blank. Signature pages follow.]

 

    	33

    	 

    

 

IN
WITNESS WHEREOF the Company has executed this Option Agreement as of [Date].

 

	STRONG
    GLOBAL ENTERTAINMENT, INC.	 
	 	 
	 	 
	Authorized
    Signatory	 

 

[Remainder
of page intentionally blank. Participant signature pages follow.]

 

    	34

    	 

    

 

Participant
Acknowledgement, Representation and Waiver

 

Please
insert your initials beside each of the statements in the Acknowledgement, Representation and Waiver below to confirm that you understand
and agree, and then confirm your acceptance of the Agreement on the signature page that follows.

 

	Insert
    your initials here 	Acknowledgement,
Representation and Waiver
	 	I understand that the Company is relying on my acknowledgement, representation and waiver in granting the Option to me.

                                                                                 

	 	It is my express wish that this document and all related documents be drawn up in English. À ma demande, le présent document ainsi que les documents qui s’y rattachent ont été rédigés en anglais.

                                                                                 

	 	I acknowledge that I have been provided with a copy of the Plan. 

                                                                                 

	 	Before accepting this grant, I have had the opportunity to receive independent legal advice from my own counsel with respect to the terms of the Plan and this Option Agreement. 

                                                                                 

	 	I
                                            understand that this grant is governed by the Plan and this Option Agreement.

                                                                                                                         

    I
    acknowledge that I have reviewed these documents fully and I understand them.

     

    I
    agree to all of the terms and conditions set out in the Plan and this Option Agreement.

     

	 	I have not been induced to enter into this Option Agreement or acquire any Option by expectation of employment or continued employment with the Company or any Affiliate of the Company. 

                                                                                 

	 	I
                                            represent that the provisions that impose limitations and forfeiture consequences
                                            if my employment or service ceases for any reason, and particularly, each of:

                                                                                                                         

    ●     Plan
    Section 1.1 – definition of “Event of Termintaion”

     

    ●     Plan
    Section 1.1 – definition of “Notification Date” 

     

    ●     Plan
    Section 5.9 (Rights upon an Event of Termination) 

     

    ●     Plan
    Section 7.4 (Clawback Provision) 

     

    ●     Plan
    Section 7.9 (No Effect on Employment or Service, Rights or Benefits)

     

    have
    been adequately brought to my attention, and I have reviewed and understood them.

     

	 	Accordingly,
    I waive irrevocably any right I may have to assert that the terms of the Plan and this Option Agreement should not be binding on
    me because they were not brought to my attention, were not read by me, or were not understood by me, even if, before accepting
    this grant and despite my representation to the contrary, I did not in fact fully read and understand those documents.

 

IN
WITNESS WHEREOF the Participant has executed this Option Agreement as of [Date].

 

	 	 
	 	Signature
    of Participant
	 	 
	 	 
	 	Name
    of Participant

 

    	35

    	 

    

 

EXhibit
c

 

Notice
of OPTION EXERCISE

 

	TO:	STRONG
    GLOBAL ENTERTAINMENT, INC. (the “Company”)
	 	 
	FROM:	___________________________
	 	 
	DATE:	___________________________

 

The
undersigned hereby irrevocably gives notice, pursuant to the Company’s Share Compensation Plan (the “Plan”),
of the exercise of the Options to acquire and hereby subscribes for:

 

[check
one]

 

	☐	(a)	all
    of the Optioned Shares; or
	 	 	 
	☐	(b)	_______________
    of the Optioned Shares, 

 

which
are the subject of the Option Agreement attached hereto.

 

Calculation
of total Exercise Price:

 

	 	(i)	number
    of Optioned Shares to be acquired on exercise	__________
    Optioned Shares
	 	 	 	 
	 	(ii)	multiplied
    by the Exercise Price per Optioned Share: 	$
    __________
	 	 	 
	 	TOTAL
    EXERCISE PRICE, enclosed herewith (unless this is a cashless exercise): 	 

    $
    __________

 

I
hereby:

 

	☐	(a)	unless
    this is a cashless exercise, enclose a cheque payable to “Strong Global Entertainment, Inc.” for the aggregate Exercise
    Price plus the amount of the estimated Withholding Obligations and agree that I will reimburse the Company for any amount by which
    the actual Withholding Obligations exceed the estimated Withholding Obligations; or
	 	 	 
	☐	(b)	advise
    the Company that I am exercising the above Options on a cashless exercise basis, in compliance with the procedures established from
    time to time by the Administrators for cashless exercises of Options under the Plan. I will consult with the Company to determine
    what additional documentation, if any, is required in connection with my cashless exercise of the above Options. I agree to comply
    with the procedures established by the Company for cashless exercises and all terms and conditions of the Plan. Please prepare the
    Optioned Shares certificates, if any, issuable in connection with this exercise in the following name(s):

 

    	36

    	 

    

 

	 	_____________________________________________________
	 	 
	 	_____________________________________________________

 

This
Notice may be executed and delivered by the parties in one or more counterparts, each of which will be an original, and those counterparts
will together constitute one and the same instrument. Execution and delivery of this Notice by facsimile, e-mail or other functionally
equivalent electronic means of execution and transmission constitutes valid and effective execution and delivery.

 

	 	 
	Signature
    of Participant	 
	 	 
	 	 
	Name
    of Participant	 

 

Letter
and consideration/direction received on ________________, 20 _____.

 

	STRONG GLOBAL ENTERTAINMENT, INC.	 
	 	 
	By:	 	 
	 	[Name]	 
	 	[Title]                 	 

 

    	37

    	 

    

 

Exhibit
d – u.s. participants

 

RESTRICTED
SHARE UNIT DEFERRAL AGREEMENT

 

	TO:	STRONG
    GLOBAL ENTERTAINMENT, INC. (the “Company”)
	 	 
	FROM:	___________________
	 	 
	DATE:	___________________

 

I,
the undersigned U.S. Participant, acknowledge that the Company may grant or has granted to me an award
of Restricted Share Units under the Strong Global Entertainment, Inc. Share Compensation Plan (the “Plan”)
that will vest according to the vesting schedule set out in the Restricted Share Unit Agreement. 

 

I
hereby irrevocably elect to defer the payout of vested Restricted Share Units as set forth below (select and complete either Option 1
or Option 2). By making this election,
I understand and agree that my election may not be changed.

 

☐
Option 1: Deferral of Restricted Share Units Awarded in Next Calendar Year.

 

I
hereby elect to defer the payout of _____% of any Restricted Share Units awarded to me under the Plan in
the next calendar year until the date selected below:

 

	 	☐	1
    year after each vesting date applicable to such Restricted Share Units.
	 	☐	2
    years after each vesting date applicable to such Restricted Share Units.
	 	☐	3
    years after each vesting date applicable to such Restricted Share Units.
	 	☐	4
    years after each vesting date applicable to such Restricted Share Units.
	 	☐	5
    years after each vesting date applicable to such Restricted Share Units.

 

☐
Option 2: Deferral of Restricted Share Units that Vest 12 Months or More After Date of Election.

 

I
was awarded Restricted Share Units pursuant to the Restricted Share Unit Award Agreement dated ___________ (must
be no earlier than 29 days prior to the date of this election). I hereby elect to defer the payout
of _____% of the Restricted Share Units awarded to me under the Plan that vest 12 months or more after the date of this election until
the date selected below:

 

	 	☐	1
    year after each vesting date applicable to such Restricted Share Units.
	 	☐	2
    years after each vesting date applicable to such Restricted Share Units.
	 	☐	3
    years after each vesting date applicable to such Restricted Share Units.
	 	☐	4
    years after each vesting date applicable to such Restricted Share Units.
	 	☐	5
    years after each vesting date applicable to such Restricted Share Units.

 

    	38

    	 

    

 

In
the event of my death, any Restricted Share Units that have vested but are subject to the deferral election above shall be paid to the
following beneficiary in accordance with the timing of such election:

 

	Name:	____________________________
	 	 
	Address:	____________________________
	 	 
	 	____________________________
	 	 
	Relationship:	____________________________

 

I
have read and understand the terms of the Plan and this Restricted Share Deferral Agreement. By signing this form, I hereby elect to
defer the payout of the Restricted Share Units as set forth above to which I may become entitled to receive upon vesting of such Restricted
Share Units. I UNDERSTAND THAT THE AMOUNT OF DEFERRAL, AND THE TIMING OF THE PAYMENT ELECTIONS I MAKE, MAY NOT BE ALTERED. I also
acknowledge that the Administrators of the Plan have complete discretion to administer and interpret the Plan. Notwithstanding the elections
set forth above, I understand that the Administrators may, in their sole discretion, elect to terminate this deferral arrangement and
accelerate the timing of the payment to me of my deferred Restricted Share Units to the extent that the Administrators determine it is
permitted or required to do so under Section 409A of the Code. The deferral arrangement described in this form is intended to comply
with Section 409A of the Code and shall be interpreted accordingly.

 

This
Restricted Share Deferral Agreement may be executed and delivered by the parties in one or more counterparts, each of which will be an
original, and those counterparts will together constitute one and the same instrument. Execution and delivery of this Restricted Share
Deferral Agreement by facsimile, e-mail or other functionally equivalent electronic means of execution and transmission constitutes valid
and effective execution and delivery.

 

	STRONG
    GLOBAL ENTERTAINMENT, INC.	 	 
	 	 	 
	 	 	 
	Authorized
    Signatory	 	Signature
    of Participant
	 	 	 
	 	 	 
	 	 	Name
    of Participant

 

    	39

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