Document:

Exhibit 4.4

    

     

    

    
      GUARDIAN ANALYTICS, INC.

       

      2006 STOCK PLAN

       

      Amended and Restated as of April 26, 2007

      Amended and Restated June 24, 2009

      Amended and Restated August 11, 2009

      Amended and Restated March 17, 2010

      Amended and Restated February 11, 2011

      Amended and Restated February 2, 2012

      Amended and Restated November 20, 2012

      Amended and Restated March 18, 2016

      

      

      1.          Purposes of the Plan.  The purposes
          of this 2006 Stock Plan are to attract and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to Employees and Consultants, and to promote the success of the Company’s business. 
          Options granted under the Plan may be Incentive Stock Options or Nonstatutory Stock Options, as determined by the Administrator at the time of grant of an Option and subject to the applicable provisions of Section 422 of the Code and the
          regulations promulgated thereunder.  Restricted Stock may also be granted under the Plan.

       

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

       

      (a)          “Administrator” means the Board or a Committee.

       

      (b)          “Affiliate” means (i) an entity other than a Subsidiary which, together with the Company, is under common control of a third person or entity and (ii) an entity other than a
          Subsidiary in which the Company and /or one or more Subsidiaries own a controlling interest.

       

      (c)           “Applicable Laws” means all applicable laws, rules, regulations and requirements, including, but not limited to, all applicable U.S. federal or state laws, any
          Stock Exchange rules or regulations, and the applicable laws, rules or regulations of any other country or jurisdiction where Options or Restricted Stock are granted under the Plan or Participants reside or provide services, as such laws, rules,
          and regulations shall be in effect from time to time.

       

      (d)          “Award” means any award of an Option or Restricted Stock under the Plan.

       

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

       

      (f)          “California Participant” means a Participant whose Award is issued in reliance on Section 25102(o) of the California Corporations Code.

       

        

      
        
          

      

      
       

      (g)          “Cashless Exercise” means a program approved by the Administrator in which payment of the Option exercise price or tax withholding obligations or other required
          deductions may be satisfied, in whole or in part, with Shares subject to the Option, including by delivery of an irrevocable direction to a securities broker (on a form prescribed by the Company) to sell Shares and to deliver all or part of the
          sale proceeds to the Company in payment of such amount.

       

      (h)          “Cause” for termination of a Participant’s Continuous Service Status will exist (unless another definition is provided in an applicable Option Agreement, Restricted Stock
          Purchase Agreement, employment agreement or other applicable written agreement) if the Participant’s Continuous Service Status is terminated for any of the following reasons:  (i) Participant’s willful failure to perform his or her duties and
          responsibilities to the Company or Participant’s violation of any written Company policy; (ii) Participant’s commission of any act of fraud, embezzlement, dishonesty or any other willful misconduct that has caused or is reasonably expected to
          result in injury to the Company; (iii) Participant’s unauthorized use or disclosure of any proprietary information or trade secrets of the Company or any other party to whom the Participant owes an obligation of nondisclosure as a result of his
          or her relationship with the Company; or (iv) Participant’s material breach of any of his or her obligations under any written agreement or covenant with the Company.  The determination as to whether a Participant’s Continuous Service Status has
          been terminated for Cause shall be made in good faith by the Company and shall be final and binding on the Participant.  The foregoing definition does not in any way limit the Company’s ability to terminate a Participant’s employment or
          consulting relationship at any time, and the term “Company” will be interpreted to include any Subsidiary, Parent, Affiliate, or any successor thereto, if appropriate.

       

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

       

      (j)          “Committee” means one or more committees or subcommittees of the Board consisting of two (2) or more Directors (or such lesser or greater number of Directors as shall
          constitute the minimum number permitted by Applicable Laws to establish a committee or sub-committee of the Board) appointed by the Board to administer the Plan in accordance with Section 4 below.

       

      (k)          “Common Stock” means the Company’s common stock, par value $0.001 per share, as adjusted in accordance with Section 13 below.

       

      (l)          “Company” means Guardian Analytics, Inc., a Delaware corporation.

       

      (m)          “Consultant” means any person or entity, including an advisor but not an Employee, that renders, or has rendered, services to the Company, or any Parent, Subsidiary or
          Affiliate and is compensated for such services, and any Director whether compensated for such services or not.

       

      (n)          “Continuous Service Status” means the absence of any interruption or termination of service as an Employee or Consultant.  Continuous Service Status as an Employee or
          Consultant shall not be considered interrupted or terminated in the case of:  (i) Company approved sick leave; (ii) military leave; (iii) any other bona fide leave of absence approved by the Company, provided that, if an Employee is holding an
          Incentive Stock Option and such leave exceeds three (3) months then, for purposes of Incentive Stock Option status only, such Employee’s service as an Employee shall be deemed terminated on the 1st day following such 3-month period and the
          Incentive Stock Option shall thereafter automatically become a Nonstatutory Stock Option in accordance with Applicable Laws, unless reemployment upon the expiration of such leave is guaranteed by contract or statute, or unless provided otherwise
          pursuant to a written Company policy.  Also, Continuous Service Status as an Employee or Consultant shall not be considered interrupted or terminated in the case of a transfer between locations of the Company or between the Company, its Parents,
          Subsidiaries or Affiliates, or their respective successors, or a change in status from an Employee to a Consultant or from a Consultant to an Employee.

       

        

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

       

      (p)          “Disability” means “disability” within the meaning of Section 22(e)(3) of the Code.

       

      (q)          “Employee” means any person employed by the Company, or any Parent, Subsidiary or Affiliate, with the status of employment determined pursuant to such factors as are deemed
          appropriate by the Company in its sole discretion, subject to any requirements of Applicable Laws, including the Code.  The payment by the Company of a director’s fee shall not be sufficient to constitute “employment” of such director by the
          Company or any Parent, Subsidiary or Affiliate.

       

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

       

      (s)          “Fair Market Value” means, as of any date, the per share fair market value of the Common Stock, as determined by the Administrator in good faith on such basis as it
          deems appropriate and applied consistently with respect to Participants.  Whenever possible, the determination of Fair Market Value shall be based upon the per share closing price for the Shares as reported in the Wall Street Journal for the applicable date.

       

      (t)          “Family Members” means any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law,
          father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law (including adoptive relationships) of the Participant, any person sharing the Participant’s household (other than a tenant or employee), a trust in which these persons
          (or the Participant) have more than 50% of the beneficial interest, a foundation in which these persons (or the Participant) control the management of assets, and any other entity in which these persons (or the Participant) own more than 50% of
          the voting interests.

       

      (u)          “Incentive Stock Option” means an Option intended to, and which does, in fact, qualify as an incentive stock option within the meaning of Section 422 of the Code, as
          designated in the applicable Option Agreement.

       

      (v)          “Involuntary Termination” means (unless another definition is provided in the applicable Option Agreement, Restricted Stock Purchase Agreement, employment agreement or
          other applicable written agreement) the termination of a Participant’s Continuous Service Status other than for (i) death, (ii) Disability or (iii) for Cause by the Company or a Parent, Subsidiary, Affiliate or successor thereto, as appropriate.

       

        

      
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      (w)          “Listed Security” means any security of the Company that is listed or approved for listing on a national securities exchange or designated or
          approved for designation as a national market system security on an interdealer quotation system by the Financial Industry Regulatory Authority (or any successor thereto).

       

      (x)          “Nonstatutory Stock Option” means an Option that is not intended to, or does not, in fact, qualify as an Incentive Stock Option, as designated in the applicable Option
          Agreement.

       

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

       

      (z)          “Option Agreement” means a written document, the form(s) of which shall be approved from time to time by the Administrator, reflecting the terms of an Option
          granted under the Plan and includes any documents attached to or incorporated into such Option Agreement, including, but not limited to, a notice of stock option grant and a form of exercise notice.

       

      (aa)          “Option Exchange Program” means a program approved by the Administrator whereby outstanding Options (i) are exchanged for Options with a lower exercise price, Restricted
          Stock, cash or other property or (ii) are amended to decrease the exercise price as a result of a decline in the Fair Market Value of the Common Stock.

       

      (bb)          “Optioned Stock” means Shares that are subject to an Option or that were issued pursuant to the exercise of an Option.

       

      (cc)          “Optionee” means an Employee or Consultant who receives an Option.

       

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

       

      (ee)          “Participant” means any holder of one or more Awards or Shares issued pursuant to an Award.

       

      (ff)           “Plan” means this 2006 Stock Plan.

       

      (gg)          “Restricted Stock” means Shares acquired pursuant to a right to purchase or receive Common Stock granted pursuant to Section 10 below.

       

      (hh)          “Restricted Stock Purchase Agreement” means a written document, the form(s) of which shall be approved from time to time by the Administrator, reflecting the terms of Restricted Stock
          granted under the Plan and includes any documents attached to such agreement.

       

        

      
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      (ii)          “Rule 16b-3” means Rule 16b-3 promulgated under the Exchange Act, as amended from time to time, or any successor provision.

       

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

       

      (kk)          “Stock Exchange” means any stock exchange or consolidated stock price reporting system on which prices for the Common Stock are quoted at any given time.

       

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

       

      (mm)         “Ten Percent Holder” means a person who owns stock representing more than 10% of the voting power of all classes of stock of the Company or any Parent or Subsidiary
          measured as of an Award’s date of grant.

       

      (nn)          “Triggering Event” means:

       

      (i)          a
          sale, transfer or disposition of all or substantially all of the Company’s assets other than to (A) a corporation or other entity of which at least a majority of its combined voting power is owned directly or indirectly by the Company, (B) a
          corporation or other entity owned directly or indirectly by the holders of capital stock of the Company in substantially the same proportions as their ownership of Common Stock, or (C) an Excluded Entity (as defined in subsection (ii) below); or

       

      (ii)          any
          merger, consolidation or other business combination transaction of the Company with or into another corporation, entity or person, other than a transaction with or into another corporation, entity or person in which the holders of at least a
          majority of the shares of voting capital stock of the Company outstanding immediately prior to such transaction continue to hold (either by such shares remaining outstanding in the continuing entity or by their being converted into shares of
          voting capital stock of the surviving entity) a majority of the total voting power represented by the shares of voting capital stock of the Company (or the surviving entity) outstanding immediately after such transaction (an “Excluded Entity”).

       

      Notwithstanding anything stated herein, a transaction shall not constitute a “Triggering Event” if its sole purpose is to change the
        state of the Company’s incorporation, or to create a holding company that will be owned in substantially the same proportions by the persons who hold the Company’s securities immediately before such transaction.  For clarity, the term “Triggering
        Event” as defined herein shall not include stock sale transactions whether by the Company or by the holders of capital stock.

       

      

      
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      3.          Stock Subject to the Plan.  Subject
          to the provisions of Section 13 of the Plan, the maximum aggregate number of Shares that may be issued under the Plan is 27,449,024 Shares, all of which may be issued under the Plan pursuant to Incentive Stock Options.  The Shares issued under
          the Plan may be authorized, but unissued, or reacquired Shares.  If an Award should expire or become unexercisable for any reason without having been exercised in full, or is surrendered pursuant to an Option Exchange Program, the unissued Shares
          that were subject thereto shall, unless the Plan shall have been terminated, continue to be available under the Plan for issuance pursuant to future Awards.  In addition, any Shares which are retained by the Company upon exercise of an Award in
          order to satisfy the exercise or purchase price for such Award or any withholding taxes due with respect to such Award shall be treated as not issued and shall continue to be available under the Plan for issuance pursuant to future Awards. 
          Shares issued under the Plan and later forfeited to the Company due to the failure to vest or repurchased by the Company at the original purchase price paid to the Company for the Shares (including, without limitation, upon forfeiture to or
          repurchase by the Company in connection with the termination of a Participant’s Continuous Service Status) shall again be available for future grant under the Plan.  Notwithstanding the foregoing, subject to the provisions of Section 13 below, in
          no event shall the maximum aggregate number of Shares that may be issued under the Plan pursuant to Incentive Stock Options exceed the number set forth in the first sentence of this Section 3 plus, to the extent allowable under Section 422 of the
          Code and the Treasury Regulations promulgated there under, any Shares that again become available for issuance pursuant to the remaining provisions of this Section 3.

       

      4.          Administration of the Plan.

       

      (a)          General.  The Plan shall be
          administered by the Board, a Committee appointed by the Board, or any combination thereof, as determined by the Board.  The Plan may be administered by different administrative bodies with respect to different classes of Participants and, if
          permitted by Applicable Laws, the Board may authorize one or more officers of the Company to make Awards under the Plan to Employees and Consultants (who are not subject to Section 16 of the Exchange Act) within parameters specified by the Board.

       

      (b)          Committee Composition.  If a
          Committee has been appointed pursuant to this Section 4, such Committee shall continue to serve in its designated capacity until otherwise directed by the Board.  From time to time the Board may increase the size of any Committee and appoint
          additional members thereof, remove members (with or without cause) and appoint new members in substitution therefor, fill vacancies (however caused) and dissolve a Committee and thereafter directly administer the Plan, all to the extent permitted
          by Applicable Laws and, in the case of a Committee administering the Plan in accordance with the requirements of Rule 16b‐3 or Section 162(m) of the Code, to the extent permitted or required by such provisions.

       

      (c)          Powers of the Administrator.  Subject
          to the provisions of the Plan and, in the case of a Committee, the specific duties delegated by the Board to such Committee, the Administrator shall have the authority, in its sole discretion:

       

      (i)          to
          determine the Fair Market Value of the Common Stock in accordance with Section 2(s) above, provided that such determination shall be applied consistently with respect to Participants under the Plan;

       

        

      
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      (ii)          to
          select the Employees and Consultants to whom Awards may from time to time be granted;

       

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

       

      (iv)          to
          approve the form(s) of agreement(s) and other related documents used under the Plan;

       

      (v)           to
          determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder, which terms and conditions include but are not limited to the exercise or purchase price, the time or times when Awards may vest
          and/or be exercised (which may be based on performance criteria), the circumstances (if any) when vesting will be accelerated or forfeiture restrictions will be waived, and any restriction or limitation regarding any Award, Optioned Stock, or
          Restricted Stock;

       

      (vi)          to
          amend any outstanding Award or agreement related to any Optioned Stock or Restricted Stock, including any amendment adjusting vesting (e.g., in connection with a change in the terms or conditions under which such person is providing services to
          the Company), provided that no amendment shall be made that would materially and adversely affect the rights of any Participant without his or her consent;

       

      (vii)          to
          determine whether and under what circumstances an Option may be settled in cash under Section 9(c) instead of Common Stock;

       

      (viii)         subject
          to Applicable Laws, to implement an Option Exchange Program and establish the terms and conditions of such Option Exchange Program without consent of the holders of capital stock of the Company, provided that no amendment or adjustment to an
          Option that would materially and adversely affect the rights of any Participant shall be made without his or her consent;

       

      (ix)          to
          approve addenda pursuant to Section 20 below or to grant Awards to, or to modify the terms of, any outstanding Option Agreement or Restricted Stock Purchase Agreement or any agreement related to any Optioned Stock or Restricted Stock held by
          Participants who are foreign nationals or employed outside of the United States with such terms and conditions as the Administrator deems necessary or appropriate to accommodate differences in local law, tax policy or custom which deviate from
          the terms and conditions set forth in this Plan to the extent necessary or appropriate to accommodate such differences; and

       

      (x)          to
          construe and interpret the terms of the Plan, any Option Agreement or Restricted Stock Purchase Agreement, and any agreement related to any Optioned Stock or Restricted Stock, which constructions, interpretations and decisions shall be final and
          binding on all Participants.

       

      (d)          Indemnification.  To the maximum
          extent permitted by Applicable Laws, each member of the Committee (including officers of the Company, if applicable), or of the Board, as applicable, shall be indemnified and held harmless by the Company against and from (i) any loss, cost,
          liability, or expense that may be imposed upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of
          any action taken or failure to act under the Plan or pursuant to the terms and conditions of any Award except for actions taken in bad faith or failures to act in good faith, and (ii) any and all amounts paid by him or her in settlement thereof,
          with the Company’s approval, or paid by him or her in satisfaction of any judgment in any such claim, action, suit, or proceeding against him or her, provided that such member shall give the Company an opportunity, at its own expense, to handle
          and defend any such claim, action, suit or proceeding before he or she undertakes to handle and defend it on his or her own behalf.  The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which
          such persons may be entitled under the Company’s Articles of Incorporation, Certificate of Incorporation or Bylaws, by contract, as a matter of
          law, or otherwise, or under any other power that the Company may have to indemnify or hold harmless each such person.

       

        

      
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      5.          Eligibility.

       

      (a)          Recipients of Grants.  Nonstatutory
          Stock Options and Restricted Stock may be granted to Employees and Consultants.  Incentive Stock Options may be granted only to Employees, provided that Employees of Affiliates shall not be eligible to receive Incentive Stock Options.

       

      (b)          Type of Option.  Each Option shall be
          designated in the Option Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option.

       

      (c)          ISO $100,000 Limitation. 
          Notwithstanding any designation under Section 5(b), to the extent that the aggregate Fair Market Value of Shares with respect to which Options designated as Incentive Stock Options are exercisable for the first time by any Optionee during any
          calendar year (under all plans of the Company or any Parent or Subsidiary) exceeds $100,000, such excess Options shall be treated as Nonstatutory Stock Options.  For purposes of this Section 5(c), Incentive Stock Options shall be taken into
          account in the order in which they were granted, and the Fair Market Value of the Shares subject to an Incentive Stock Option shall be determined as of the date of the grant of such Option.

       

      (d)          No Employment Rights.  Neither the
          Plan nor any Award shall confer upon any Employee or Consultant any right with respect to continuation of an employment or consulting relationship with the Company (any Parent, Subsidiary or Affiliate), nor shall it interfere in any way with such
          Employee’s or Consultant’s right or the Company’s (Parent’s, Subsidiary’s or Affiliate’s) right to terminate his or her employment or consulting relationship at any time, with or without cause.

       

      6.          Term of Plan.  The Plan first became
          effective on April 21, 2006, the date on which the Board initially adopted the Plan.  It shall continue in effect for an additional term of ten (10) years until April 21, 2026 (ten (10) years from the date on which the Board approved an extension
          of the term of the Plan), unless sooner terminated under Section 16 below.

       

      7.          Term of Option.  The term of each
          Option shall be the term stated in the Option Agreement; provided that the term shall be no more than ten (10) years from the date of grant thereof or such shorter term as may be provided in the Option Agreement and provided further that, in the
          case of an Incentive Stock Option granted to a person who at the time of such grant is a Ten Percent Holder, the term of the Option shall be five (5) years from the date of grant thereof or such shorter term as may be provided in the Option
          Agreement.

       

        

      
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      8.          Option Exercise Price and Consideration.

       

      (a)          Exercise Price.  The per Share
          exercise price for the Shares to be issued pursuant to the exercise of an Option shall be such price as is determined by the Administrator and set forth in the Option Agreement, but shall be subject to the following:

       

      (i)          In the
          case of an Incentive Stock Option

       

      (A)          granted
          to an Employee who at the time of grant is a Ten Percent Holder, the per Share exercise price shall be no less than 110% of the Fair Market Value on the date of grant;

       

      (B)          granted
          to any other Employee, the per Share exercise price shall be no less than 100% of the Fair Market Value on the date of grant;

       

      (ii)          Except
          as provided in subsection (iii) below, in the case of a Nonstatutory Stock Option the per Share exercise price shall be such price as is determined by the Administrator, provided that, if the per Share exercise price is less than 100% of the Fair
          Market Value on the date of grant, it shall otherwise comply with all Applicable Laws, including Section 409A of the Code;

       

      (iii)          Notwithstanding
          the foregoing, Options may be granted with a per Share exercise price other than as required above pursuant to a merger or other corporate transaction.

       

      (b)          Permissible Consideration.  The
          consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment, shall be determined by the Administrator (and, in the case of an Incentive Stock Option and to the extent required by Applicable
          Laws, shall be determined at the time of grant) and may consist entirely of (1) cash; (2) check; (3)  to the extent permitted under, and in accordance with, Applicable Laws, delivery of a promissory note with such recourse, interest, security and
          redemption provisions as the Administrator determines to be appropriate (subject to the provisions of Section 152 of the Delaware General Corporation Law); (4) cancellation of indebtedness; (5) other previously owned Shares that have a Fair
          Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which the Option is exercised; (6) a Cashless Exercise; (7) such other consideration and method of payment permitted under Applicable Laws; or (8) any
          combination of the foregoing methods of payment.  In making its determination as to the type of consideration to accept, the Administrator shall consider if acceptance of such consideration may be reasonably expected to benefit the Company and
          the Administrator may, in its sole discretion, refuse to accept a particular form of consideration at the time of any Option exercise.

       

        

      
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      9.          Exercise of Option.

       

      (a)          General.

       

      (i)          Exercisability.  Any Option granted
          hereunder shall be exercisable at such times and under such conditions as determined by the Administrator, consistent with the terms of the Plan and reflected in the Option Agreement, including vesting requirements and/or performance criteria
          with respect to the Company, and Parent, Subsidiary or Affiliate, and/or the Optionee.

       

      (ii)          Leave of Absence.  The Administrator
          shall have the discretion to determine at any time whether and to what extent the vesting of Options shall be tolled during any leave of absence; provided, however, that in the absence of such determination, vesting of Options shall continue
          during any paid leave and shall be tolled during any unpaid leave (unless otherwise required by Applicable Laws).  Notwithstanding the foregoing, in the event of military leave, vesting shall toll during any unpaid portion of such leave, provided
          that, upon an Optionee’s returning from military leave (under conditions that would entitle him or her to protection upon such return under the Uniform Services Employment and Reemployment Rights Act), he or she shall be given vesting credit with
          respect to Options to the same extent as would have applied had the Optionee continued to provide services to the Company (or any Parent, Subsidiary or Affiliate, if applicable) throughout the leave on the same terms as he or she was providing
          services immediately prior to such leave.

       

      (iii)          Minimum Exercise Requirements.  An
          Option may not be exercised for a fraction of a Share.  The Administrator may require that an Option be exercised as to a minimum number of Shares, provided that such requirement shall not prevent an Optionee from exercising the full number of
          Shares as to which the Option is then exercisable.

       

      (iv)          Procedures for and Results of Exercise.  An
          Option shall be deemed exercised when written notice of such exercise has been received by the Company in accordance with the terms of the Option Agreement by the person entitled to exercise the Option and the Company has received full payment
          for the Shares with respect to which the Option is exercised and has paid, or made arrangements to satisfy, any applicable taxes, withholding, required deductions or other required payments in accordance with Section 11 below.  The exercise of an
          Option shall result in a decrease in the number of Shares that thereafter may be available, both for purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised.

       

      (v)          Rights as Holder of Capital Stock.  Until
          the issuance of the Shares (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a holder of capital stock shall
          exist with respect to the Optioned Stock, notwithstanding the exercise of the Option.  No adjustment will be made for a dividend or other right for which the record date is prior to the date the stock is issued, except as provided in Section 13
          below.

       

      (b)          Termination of Continuous Service Status. 
          The Administrator shall establish and set forth in the applicable Option Agreement the terms and conditions upon which an Option shall remain exercisable, if at all, following termination of an Optionee’s Continuous Service Status, which
          provisions may be waived or modified by the Administrator at any time.  To the extent that an Option Agreement does not specify the terms and conditions upon which an Option shall terminate upon termination of an Optionee’s Continuous Service
          Status, the following provisions shall apply:

       

      (i)          General Provisions.  If the Optionee
          (or other person entitled to exercise the Option) does not exercise the Option to the extent so entitled within the time specified below, the Option shall terminate and the Optioned Stock underlying the unexercised portion of the Option shall
          revert to the Plan.  In no event may any Option be exercised after the expiration of the Option term as set forth in the Option Agreement (and subject to this Section 9).

       

        

      
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      (ii)          Termination other than Upon Disability or Death or for Cause.  In the event of termination of an Optionee’s Continuous Service Status other than under the circumstances set forth in subsections (iii) through (v) below, such Optionee may exercise any outstanding Option at any
          time within three (3) months following such termination to the extent the Optionee is vested in the Optioned Stock.

       

      (iii)          Disability of Optionee.  In the
          event of termination of an Optionee’s Continuous Service Status as a result of his or her Disability, such Optionee may exercise any outstanding Option at any time within six (6) months following such termination to the extent the Optionee is
          vested in the Optioned Stock.

       

      (iv)          Death of Optionee.  In the event of
          the death of an Optionee during the period of Continuous Service Status since the date of grant of any outstanding Option, or within 30 days following termination of Optionee’s Continuous Service Status, the Option may be exercised by any
          beneficiaries designated in accordance with Section 18 below, or if there are no such beneficiaries by the Optionee’s estate, or by a person who acquired the right to exercise the Option by bequest or inheritance, at any time within twelve (12) months following the date of death or, if earlier, the date the Optionee’s Continuous Service Status terminated, but only to the
          extent the Optionee is vested in the Optioned Stock.

       

      (v)          Termination for Cause.  In the event
          of termination of an Optionee’s Continuous Service Status for Cause, any outstanding Option (including any vested portion thereof) held by such Optionee shall immediately terminate in its entirety upon first notification to the Optionee of
          termination of the Optionee’s Continuous Service Status for Cause.  If an Optionee’s Continuous Service Status is suspended pending an investigation of whether the Optionee’s Continuous Service Status will be terminated for Cause, all the
          Optionee’s rights under any Option, including the right to exercise the Option, shall be suspended during the investigation period.  Nothing in this Section 10(b)(v) shall in any way limit the Company’s right to purchase unvested Shares issued
          upon exercise of an Option as set forth in the applicable Option Agreement.

       

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

       

      
        11

        
          

      

       

      

      10.          Restricted Stock.

       

      (a)          Rights to Purchase.  When a right to
          purchase or receive Restricted Stock is granted under the Plan, the Company shall advise the recipient in writing of the terms, conditions and restrictions related to the offer, including the number of Shares that such person shall be entitled to
          purchase, the price to be paid, if any (which shall be as determined by the Administrator, subject to Applicable Laws, including any applicable securities laws), and the time within which such person must accept such offer.  The permissible
          consideration for Restricted Stock shall be determined by the Administrator and shall be the same as is set forth in Section 8(b) with respect to exercise of Options.  The offer to purchase Shares shall be accepted by execution of a Restricted
          Stock Purchase Agreement in the form determined by the Administrator.

       

      (b)          Repurchase Option.

       

      (i)          General.  Unless the Administrator
          determines otherwise, the Restricted Stock Purchase Agreement shall grant the Company a repurchase option exercisable upon the voluntary or involuntary termination of the Participant’s Continuous Service Status for any reason (including death or
          Disability) at a purchase price for Shares equal to the original purchase price paid by the purchaser to the Company for such Shares and may be paid by cancellation of any indebtedness of the purchaser to the Company.  The repurchase option shall
          lapse at such rate as the Administrator may determine.

       

      (ii)          Leave of Absence.  The Administrator
          shall have the discretion to determine at any time whether and to what extent the lapsing of Company repurchase rights shall be tolled during any leave of absence; provided, however, that in the absence of such determination, such lapsing shall
          continue during any paid leave and shall be tolled during any unpaid leave (unless otherwise required by Applicable Laws).  Notwithstanding the foregoing, in the event of military leave, the lapsing of Company repurchase rights shall toll during
          any unpaid portion of such leave, provided that, upon a Participant’s returning from military leave (under conditions that would entitle him or her to protection upon such return under the Uniform Services Employment and Reemployment Rights Act),
          he or she shall be given vesting credit with respect to Shares purchased pursuant to the Restricted Stock Purchase Agreement to the same extent as would have applied had the Participant continued to provide services to the Company (or any Parent,
          Subsidiary or Affiliate, if applicable) throughout the leave on the same terms as he or she was providing services immediately prior to such leave.

       

      (c)          Other Provisions.  The Restricted
          Stock Purchase Agreement shall contain such other terms, provisions and conditions not inconsistent with the Plan as may be determined by the Administrator in its sole discretion.  In addition, the provisions of Restricted Stock Purchase
          Agreements need not be the same with respect to each Participant.

       

      (d)          Rights as a Holder of Capital Stock. 
          Once the Restricted Stock is purchased, the Participant shall have the rights equivalent to those of a holder of capital stock, and shall be a record holder when his or her purchase and the issuance of the Shares is entered upon the records of
          the duly authorized transfer agent of the Company.  No adjustment will be made for a dividend or other right for which the record date is prior to the date the Restricted Stock is purchased, except as provided in Section 13 below.

       

        

      
        12

        
          

      

       

      11.          Taxes.

       

      (a)          As a
          condition of the grant, vesting and exercise of an Award, the Participant (or in the case of the Participant’s death or a permitted transferee, the person holding or exercising the Award) shall make such arrangements as the Administrator may
          require for the satisfaction of any applicable U.S. federal, state, local or foreign tax, withholding, and any other required deductions or payments that may arise in connection with such Award.  The Company shall not be required to issue any
          Shares under the Plan until such obligations are satisfied.

       

      (b)          The
          Administrator may, to the extent permitted under Applicable Laws, permit a Participant (or in the case of the Participant’s death or a permitted transferee, the person holding or exercising the Award) to satisfy all or part of his or her tax,
          withholding, or any other required deductions or payments by Cashless Exercise or by surrendering Shares (either directly or by stock attestation) that he or she previously acquired; provided that, unless specifically permitted by the Company,
          any such Cashless Exercise must be an approved broker-assisted Cashless Exercise or the Shares withheld in the Cashless Exercise must be limited to avoid financial accounting charges under applicable accounting guidance and any such surrendered
          Shares must have been previously held for any minimum duration required to avoid financial accounting charges under applicable accounting guidance.  Any payment of taxes by surrendering Shares to the Company may be subject to restrictions,
          including, but not limited to, any restrictions required by rules of the Securities and Exchange Commission.

       

      12.          Non-Transferability of Awards.

       

      (a)          General.  Except as set forth in this
          Section 12, Awards (or any rights of such Awards) may not be sold, pledged, encumbered, assigned, hypothecated, or disposed of or otherwise transferred in any manner other than by will or by the laws of descent or distribution.  The designation
          of a beneficiary by a Participant will not constitute a transfer.  An Option may be exercised, during the lifetime of the holder of the Option, only by such holder or a transferee permitted by this Section 12.

       

      (b)          Limited Transferability Rights.  Notwithstanding
          anything else in this Section 12, the Administrator may in its sole discretion provide that any Nonstatutory Stock Options may be transferred by instrument to an inter vivos or testamentary trust in which the Options are to be passed to
          beneficiaries upon the death of the trustor (settlor) or by gift to Family Members. Further, beginning with (i) the period when the Company begins to rely on the exemption described in Rule 12h-1(f)(1) promulgated under the Exchange Act, as
          determined by the Board in its sole discretion, and (ii) ending on the earlier of (A) the date when the Company ceases to rely on such exemption, as determined by the Board in its sole discretion, or (B) the date when the Company becomes subject
          to the reporting requirements of Section 13 or 15(d) of the Exchange Act, an Option, or prior to exercise, the Shares subject to the Option, may not be pledged, hypothecated or otherwise transferred or disposed of, in any manner, including by
          entering into any short position, any “put equivalent position” or any “call equivalent position” (as defined in Rule 16a-1(h) and Rule 16a-1(b) of the Exchange Act, respectively), other than to (i) persons who are Family Members through gifts or
          domestic relations orders, or (ii) to an executor or guardian of the Participant upon the death or disability of the Participant.  Notwithstanding the foregoing sentence, the Board, in its sole discretion, may permit transfers of Nonstatutory
          Stock Options to the Company or in connection with a Change of Control or other acquisition transactions involving the Company to the extent permitted by Rule 12h-1(f).

       

        

      
        13

        
          

      

       

      13.          Adjustments Upon Changes in Capitalization, Merger or Certain Other Transactions.

       

      (a)          Changes in Capitalization.  Subject
          to any action required under Applicable Laws by the holders of capital stock of the Company, (i) the numbers and class of Shares or other stock or securities:  (x) available for future Awards under Section 3 above and (y) covered by each
          outstanding Award, (ii) the exercise price per Share of each such outstanding Option, and (iii) any repurchase price per Share applicable to Shares issued pursuant to any Award, shall be automatically proportionately adjusted in the event of a
          stock split, reverse stock split, stock dividend, combination, consolidation, reclassification of the Shares or subdivision of the Shares.  In the event of any increase or decrease in the number of issued Shares effected without receipt of
          consideration by the Company, a declaration of an extraordinary dividend with respect to the Shares payable in a form other than Shares in an amount that has a material effect on the Fair Market Value, a recapitalization (including a
          recapitalization through a large nonrecurring cash dividend), a rights offering, a reorganization, merger, a spin-off, split-up, change in corporate structure or a similar occurrence, the Administrator shall make appropriate adjustments, in its
          discretion, in one or more of (i) the numbers and class of Shares or other stock or securities:  (x) available for future Awards under Section 3 above and (y) covered by each outstanding Award, (ii) the exercise price per Share of each
          outstanding Option and (iii) any repurchase price per Share applicable to Shares issued pursuant to any Award, and any such adjustment by the Administrator shall be made in the Administrator’s sole and absolute discretion and shall be final,
          binding and conclusive.  Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made
          with respect to, the number or price of Shares subject to an Award.  If, by reason of a transaction described in this Section 13(a) or an adjustment pursuant to this Section 13(a), a Participant’s Award agreement or agreement related to any
          Optioned Stock or Restricted Stock covers additional or different shares of stock or securities, then such additional or different shares, and the Award agreement or agreement related to the Optioned Stock or Restricted Stock in respect thereof,
          shall be subject to all of the terms, conditions and restrictions which were applicable to the Award, Optioned Stock and Restricted Stock prior to such adjustment.

       

      (b)          Dissolution or Liquidation.  In the
          event of the dissolution or liquidation of the Company, each Award will terminate immediately prior to the consummation of such action, unless otherwise determined by the Administrator.

       

        

      
        14

        
          

      

       

      (c)          Corporate Transactions.  In the event
          of (i) a transfer of all or substantially all of the Company’s assets, (ii) a merger, consolidation or other capital reorganization or business combination transaction of the Company with or into another corporation, entity or person, or (iii)
          the consummation of a transaction, or series of related transactions, in which any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act),
          directly or indirectly, of more than 50% of the Company’s then outstanding capital stock (a “Corporate Transaction”), each outstanding Award (vested or
          unvested) will be treated as the Administrator determines, which determination may be made without the consent of any Participant and need not treat all outstanding Awards (or portion thereof) in an identical manner.  Such determination, without
          the consent of any Participant, may provide (without limitation) for one or more of the following in the event of a Corporate Transaction:  (A) the continuation of such outstanding Awards by the Company (if the Company is the surviving
          corporation); (B) the assumption of such outstanding Awards by the surviving corporation or its parent; (C) the substitution by the surviving corporation or its parent of new options or equity awards for such Awards; (D) the cancellation of such
          Awards in exchange for a payment to the Participants equal to the excess of (1) the Fair Market Value of the Shares subject to such Awards as of the closing date of such Corporate Transaction over (2) the exercise price or purchase price paid or
          to be paid for the Shares subject to the Awards; or (E) the cancellation of any outstanding Options or an outstanding right to purchase Restricted Stock, in either case, for no consideration.  Notwithstanding anything herein, under this Plan, any
          Award Agreement or otherwise, any escrow, holdback, earn-out or similar provisions agreed to pursuant to, or in connection with, a Corporate Transaction shall, unless otherwise determined by the Board, apply to any payment or other right a
          Participant may be entitled to under this Plan, if any, to the same extent and in the same manner as such provisions apply generally to the holders of the Company’s Common Stock with respect to the Corporate Transaction, but only to extent
          permitted by Applicable Law, including (without limitation), Section 409A of the Code.

       

      14.          Non-Transferability of Stock Underlying Awards.

       

      (a)          General.  Notwithstanding anything to
          the contrary, no Participant or other stockholder shall Transfer (as such term is defined below) any Shares (or any rights of or interests in such Shares) acquired pursuant to any Award (including, without limitation, Shares acquired upon
          exercise of an Option) to any person or entity unless such Transfer is approved by the Company prior to such Transfer, which approval may be granted or withheld in the Company’s sole and absolute discretion.  “Transfer” shall mean, with respect
          to any security, the direct or indirect assignment, sale, transfer, tender, pledge, hypothecation, or the grant, creation or suffrage of a lien or encumbrance in or upon, or the gift, placement in trust, or the Constructive Sale (as such term is
          defined below) or other disposition of such security (including transfer by testamentary or intestate succession, merger or otherwise by operation of law) or any right, title or interest therein (including, but not limited to, any right or power
          to vote to which the holder thereof may be entitled, whether such right or power is granted by proxy or otherwise), or the record or beneficial ownership thereof, the offer to make such a sale, transfer, Constructive Sale or other disposition,
          and each agreement, arrangement or understanding, whether or not in writing, to effect any of the foregoing.  “Constructive Sale” shall mean, with respect to any security, a short sale with respect to such security, entering into or acquiring an
          offsetting derivative contract with respect to such security, entering into or acquiring a futures or forward contract to deliver such security, or entering into any other hedging or other derivative transaction that has the effect of materially
          changing the economic benefits and risks of ownership.  Any purported Transfer effected in violation of this Section 14 shall be null and void and shall have no force or effect and the Company shall not be required (i) to transfer on its books
          any Shares that have been sold or otherwise transferred in violation of any of the provisions of the Plan or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such
          Shares shall have been so transferred.

       

        

      
        15

        
          

      

       

      (b)          Approval Process.  Any Participant or
          stockholder seeking the approval of the Company to Transfer some or all of its Shares shall give written notice thereof to the Secretary of the Company that shall include: (1) the name of the stockholder; (2) the proposed transferee; (3) the
          number of shares of the Transfer of which approval is thereby requested; and (4) the purchase price, if any, of the shares proposed for Transfer.  The Company may require the Participant to supplement its notice with such additional information
          as the Company may request or as may otherwise be required by the applicable Option Agreement, Restricted Stock Purchase Agreement or other applicable written agreement.  In addition such request for Transfer shall be subject to such right of
          first refusal, transfer provisions and any other terms and conditions as may be set forth in the applicable Option Agreement, Restricted Stock Purchase Agreement or other applicable written agreement.

       

      15.          Time of Granting Awards.  The date of
          grant of an Award shall, for all purposes, be the date on which the Administrator makes the determination granting such Award, or such other date as is determined by the Administrator.

       

      16.          Amendment and Termination of the Plan. 
          The Board may at any time amend or terminate the Plan, but no amendment or termination shall be made that would materially and adversely affect the rights of any Participant under any outstanding Award, without his or her consent.  In addition,
          to the extent necessary and desirable to comply with Applicable Laws, the Company shall obtain the approval of holders of capital stock with respect to any Plan amendment in such a manner and to such a degree as required.

       

      17.          Conditions Upon Issuance of Shares. 
          Notwithstanding any other provision of the Plan or any agreement entered into by the Company pursuant to the Plan, the Company shall not be obligated, and shall have no liability for failure, to issue or deliver any Shares under the Plan unless
          such issuance or delivery would comply with Applicable Laws, with such compliance determined by the Company in consultation with its legal counsel.  As a condition to the exercise of any Option or purchase of any Restricted Stock, the Company may
          require the person exercising the Option or purchasing the Restricted Stock to represent and warrant at the time of any such exercise or purchase that the Shares are being purchased only for investment and without any present intention to sell or
          distribute such Shares if, in the opinion of counsel for the Company, such a representation is advisable or required by Applicable Laws.  Shares issued upon exercise of Options or purchase of Restricted Stock prior to the date, if ever, on which
          the Common Stock becomes a Listed Security shall be subject to a right of first refusal in favor of the Company pursuant to which the Participant will be required to offer Shares to the Company before selling or transferring them to any third
          party on such terms and subject to such conditions as is reflected in the applicable Option Agreement or Restricted Stock Purchase Agreement.

       

      18.          Beneficiaries.  If permitted by the
          Company, a Participant may designate one or more beneficiaries with respect to an Award by timely filing the prescribed form with the Company.  A beneficiary designation may be changed by filing the prescribed form with the Company at any time
          before the Participant’s death.  Except as otherwise provided in an Award Agreement, if no beneficiary was designated or if no designated beneficiary survives the Participant, then after a Participant’s death any vested Award(s) shall be
          transferred or distributed to the Participant’s estate or to any person who has the right to acquire the Award by bequest or inheritance.

       

        

      
        16

        
          

      

       

      19.          Approval of Holders of Capital Stock. 
          If required by Applicable Laws, continuance of the Plan shall be subject to approval by the holders of capital stock of the Company within twelve (12) months before or after the date the Plan is adopted or, to the extent required by Applicable
          Laws, any date the Plan is amended.  Such approval shall be obtained in the manner and to the degree required under Applicable Laws.

       

      20.          Addenda.  The Administrator may
          approve such addenda to the Plan as it may consider necessary or appropriate for the purpose of granting Awards to Employees or Consultants, which Awards may contain such terms and conditions as the Administrator deems necessary or appropriate to
          accommodate differences in local law, tax policy or custom, which may deviate from the terms and conditions set forth in this Plan.  The terms of any such addenda shall supersede the terms of the Plan to the extent necessary to accommodate such
          differences but shall not otherwise affect the terms of the Plan as in effect for any other purpose.

       

      21.          Information to Holders of Options. 
          In the event the Company is relying on the exemption provided by Rule 12h-1(f) under the Exchange Act, the Company shall provide the information described in Rule 701(e)(3), (4) and (5) of the Securities Act of 1933, as amended, to all holders of
          Options in accordance with the requirements thereunder until such time as the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act.  The Company may request that holders of Options agree to keep the
          information to be provided pursuant to this Section confidential.  If the holder does not agree to keep the information to be provided pursuant to this Section confidential, then the Company will not be required to provide the information unless
          otherwise required pursuant to Rule 12h-1(f)(1) of the Exchange Act.

       

      
        17

        
          

      

      

      

      
        

        

      

      ADDENDUM A

       

      2006 Stock Plan

       

      (California Participants)

       

      Prior to the date, if ever, on which the Common Stock becomes a Listed Security and/or the Company is subject to the
        reporting requirements of the Exchange Act, the terms set forth herein shall apply to Awards issued to California Participants.  All capitalized terms used herein but not otherwise defined shall have the respective meanings set forth in the Plan.

       

      1.          The
          following rules shall apply to any Option in the event of termination of the Participant’s Continuous Service Status:

       

      a.          If such
          termination was for reasons other than death, “Permanent Disability” (as defined below), or Cause, the Participant shall have at least thirty (30) days after the date of such termination to exercise his or her Option to the extent the Participant
          is entitled to exercise on his or her termination date, provided that in no event shall the Option be exercisable after the expiration of the term as set forth in the Option Agreement.

       

      b.          If such
          termination was due to death or Permanent Disability, the Participant shall have at least six (6) months after the date of such termination to exercise his or her Option to the extent the Participant is entitled to exercise on his or her
          termination date, provided that in no event shall the Option be exercisable after the expiration of the term as set forth in the Option Agreement.

       

      “Permanent Disability” for purposes of this
        Addendum shall mean the inability of the Participant, in the opinion of a qualified physician acceptable to the Company, to perform the major duties of the Participant’s position with the Company or any Parent or Subsidiary because of the sickness
        or injury of the Participant.

       

      2.          Notwithstanding
          anything to the contrary in Section 13(a) the Plan, the Administrator shall in any event make such adjustments as may be required by Section 25102(o) of the California Corporations Code.

       

      3.          Notwithstanding
          anything stated herein to the contrary, no Option shall be exercisable on or after the tenth anniversary of the date of grant and any Award agreement shall terminate on or before the tenth anniversary of the date of grant.

       

      4.          The
          Company shall furnish summary financial information (audited or unaudited) of the Company’s financial condition and results of operations, consistent with the requirements of Applicable Laws, at least annually to each California Participant
          during the period such Participant has one or more Awards outstanding, and in the case of an individual who acquired Shares pursuant to the Plan, during the period such Participant owns such Shares; provided, however, the Company shall not be
          required to provide such information if (i) the issuance is limited to key persons whose duties in connection with the Company assure their access to equivalent information or (ii) the Plan or any agreement complies with all conditions of Rule
          701 of the Securities Act of 1933, as amended; provided that for purposes of determining such compliance, any registered domestic partner shall be considered a “family member” as that term is defined in Rule 701.Exhibit 10.1

  

 

 

 

 

 

 

====================================================================

 

 

 

 

2020
EQUITY INCENTIVE PLAN

 

OF

 

logiq,
Inc.

 

 

 

 

 

 

 

 

 

====================================================================

 

     

     

    

 

TABLE
OF CONTENTS

 

	 	 	Page
	 	 	 
	1.	General.	1
	 	 	 
	2.	Definitions.	1
	 	 	 
	3.	Administration.	7
	 	 	 
	4.	Shares
    Subject to the Plan; Overall Limitation.	10
	 	 	 
	5.	Eligibility.	10
	 	 	 
	6.	Option
    Agreement Provisions.	11
	 	 	 
	7.	Provisions
    of Stock Awards Other Than Options.	14
	 	 	 
	8.	Performance-Based
    Awards.	15
	 	 	 
	9.	Covenants
    of the Company.	16
	 	 	 
	10.	Use
    of Proceeds.	17
	 	 	 
	11.	Adjustments
    Upon Change in Common Stock.	17
	 	 	 
	12.	Adjustments
    Upon Change in Control.	17
	 	 	 
	13.	Acceleration
    of Exercisability and Vesting.	18
	 	 	 
	14.	Dissolution
    or Liquidation.	18
	 	 	 
	15.	Miscellaneous.	18
	 	 	 
	16.	Amendment
    of the Plan.	20
	 	 	 
	17.	Termination
    or Suspension of the Plan.	20
	 	 	 
	18.	Effective
    Date of Plan.	21
	 	 	 
	19.	Non-Exclusivity
    of the Plan	21
	 	 	 
	20.	Liability
    of the Company.	21
	 	 	 
	21.	Choice
    of Law.	21

 

    i

     

    

 

logiq,
Inc.

 

2020
EQUITY INCENTIVE PLAN

Plan Adopted by the Board: September 30, 2020

 

Termination
Date: September 29, 2030

 

1.
General.

 

(a)
Purposes. The purposes of the Plan are as follows:

 

(i)
To provide additional incentive for selected Employees, Directors and Consultants to further the growth, development and financial
success of the Company by providing a means by which such persons can personally benefit through the ownership of capital stock
of the Company; and

 

(ii)
To enable the Company to secure and retain key Employees, Directors and Consultants considered important to the long-term success
of the Company by offering such persons an opportunity to own capital stock of the Company.

 

(b)
Eligible Stock Award Recipients. The persons eligible to receive Stock Awards under the Plan are the Employees, Directors
and Consultants of the Company and its Affiliates.

 

(c)
Available Stock Awards. The following Stock Awards are available under the Plan: (i) Incentive Stock Options;
(ii) Nonstatutory Stock Options; (iii) Restricted Stock awards, (iv) Restricted Stock Units; (v) Stock Bonus awards; and (vi)
Performance-Based Awards.

 

2.
Definitions.

 

(a)
“Administrator” means the entity that conducts the general administration of the Plan as provided herein.
The term “Administrator” shall refer to the Board unless the Board has delegated administration to a Committee as
provided in Article 3.

 

(b)
“Affiliate” means:

 

(i)
with respect to Incentive Stock Options, any “parent corporation” or “subsidiary corporation” of the Company,
whether now existing or hereafter created or acquired, as those terms are defined in Sections 424(e) and 424(f) of the Code, respectively;
and

 

(ii)
with respect to Stock Awards other than Incentive Stock Options, any entity described in paragraph (a) of this Section 2(b), plus
any other corporation, limited liability company, partnership or joint venture, whether now existing or hereafter created or acquired,
with respect to which the Company beneficially owns more than fifty percent (50%) of: (1) the total combined voting power of all
outstanding voting securities or (2) the capital or profits interests of a limited liability company, partnership or joint venture.

 

    1

     

    

 

(c)
“Award Shares” means the shares of Common Stock of the Company issued or issuable pursuant to a Stock Award, including
Option Shares issued or issuable pursuant to an Option.

 

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

 

(e)
“Change in Control” shall mean:

 

(i)
The direct or indirect sale or transfer, in a single transaction or a series of related transactions, by the stockholders of the
Company of voting securities, in which the holders of the outstanding voting securities of the Company immediately prior to such
transaction or series of transactions hold, as a result of holding Company securities prior to such transaction, in the aggregate,
securities possessing less than fifty percent (50%) of the total combined voting power all outstanding voting securities of the
Company or of the acquiring entity immediately after such transaction or series of related transactions;

 

(ii)
A merger or consolidation in which the Company is not the surviving entity, except for a transaction in which the holders of the
outstanding voting securities of the Company immediately prior to such merger or consolidation hold as a result of holding Company
securities prior to such transaction, in the aggregate, securities possessing more than fifty percent (50%) of the total combined
voting power of all outstanding voting securities of the surviving entity (or the parent of the surviving entity) immediately
after such merger or consolidation;

 

(iii)
A reverse merger in which the Company is the surviving entity but in which the holders of the outstanding voting securities of
the Company immediately prior to such merger hold as a result of holding Company securities prior to such transaction, in the
aggregate, securities possessing less than fifty percent (50%) of the total combined voting power of all outstanding voting securities
of the Company or of the acquiring entity immediately after such merger;

 

(iv)
The sale, transfer or other disposition (in one transaction or a series of related transactions) of all or substantially all of
the assets of the Company, except for a transaction in which the holders of the outstanding voting securities of the Company immediately
prior to such transaction(s) receive as a distribution with respect to securities of the Company, in the aggregate, securities
possessing more than fifty percent (50%) of the total combined voting power of all outstanding voting securities of the acquiring
entity immediately after such transaction(s); or

 

(v)
Any time individuals who, on the date this Plan is adopted by the Board, are members of the Board (the “Incumbent Board”)
cease for any reason to constitute at least a majority of the members of the Board; provided, however, that if the appointment
or election (or nomination for election) of any new Board member was approved or recommended by a majority vote of the members
of the Incumbent Board then still in office, such new member shall, for purposes of this Plan, be considered as a member of the
Incumbent Board.

 

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

 

    2

     

    

 

(g)
“Committee” means a committee appointed by the Board in accordance with Section 3(c).

 

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

 

(i)
“Company” means Logiq, Inc., a Delaware corporation.

 

(j)
“Consultant” means any consultant or adviser if:

 

(a)
The consultant or adviser renders bona fide services to the Company or any Affiliate;

 

(b)
The services rendered by the consultant or adviser are not in connection with the offer or sale of securities in a capital-raising
transaction and do not directly or indirectly promote or maintain a market for the Company’s securities; and

 

(i)
The consultant or adviser is a natural person who has contracted directly with the Company or any Affiliate to render such services.

 

(k)
“Covered Employee” means an Employee who is, or is likely to become, a “covered employee” within
the meaning of Section 162(m)(3) of the Code.

 

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

 

(m)
“Disability” means total and permanent disability as defined in Section 22(e)(3) of the Code and as interpreted
by the Administrator in each case.

 

(n)
“Effective Date” shall have the meaning given in Section 18 herein.

 

(o)
“Employee” means a regular employee of the Company or an Affiliate, including an Officer or Director, who
is treated as an employee in the personnel records of the Company or an Affiliate, but not individuals who are classified by the
Company or an Affiliate as: (i) leased from or otherwise employed by a third party, (ii) independent contractors, or
(iii) intermittent or temporary workers. The Company’s or an Affiliate’s classification of an individual as an
“Employee” (or as not an “Employee”) for purposes of this Plan shall not be altered retroactively even
if that classification is changed retroactively for another purpose as a result of an audit, litigation or otherwise. Neither
service as a Director nor receipt of a director’s fee shall be sufficient to make a Director an “Employee.”

 

(p)
“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time.

 

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

 

(i)
If the Common Stock is then listed or admitted to trading on a Nasdaq market system or a stock exchange which reports closing
sale prices, the Fair Market Value shall be the closing sale price on the date of valuation on such Nasdaq market system or principal
stock exchange on which the Common Stock is then listed or admitted to trading, or, if no closing sale price is quoted on such
day, then the Fair Market Value shall be the closing sale price of the Common Stock on such Nasdaq market system or such exchange
on the next preceding day for which a closing sale price is reported;

 

    3

     

    

 

(ii)
If the Common Stock is not then listed or admitted to trading on a Nasdaq market system or a stock exchange which reports closing
sale prices, the Fair Market Value shall be the average of the closing bid and asked prices of the Common Stock in the over-the-counter
market on the date of valuation; or

 

(iii)
If neither (i) nor (ii) is applicable as of the date of valuation, then the Fair Market Value shall be determined by the Administrator
in good faith using any reasonable method of valuation, which determination shall be conclusive and binding on all interested
parties.

 

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

 

(s)
“Non-Employee Director” means a member of the Board who qualifies as a “Non-Employee Director”
as defined in Rule 16b-3(b)(3) of the Exchange Act, or any successor rule.

 

(t)
“Nonstatutory Stock Option” means an Option not intended to qualify as an Incentive Stock Option.

 

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

 

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

 

(w)
“Option Agreement” means a written or electronic agreement between the Company and an Optionee evidencing
the terms and conditions of an individual Option grant. Each Option Agreement shall be subject to the terms and conditions of
the Plan and any rules and regulations adopted by the Administrator and incorporated therein.

 

(x)
“Optionee” means the Participant to whom an Option is granted or, if applicable, such other person who
holds an outstanding Option.

 

(y)
“Option Shares” means the shares of Common Stock of the Company issued or issuable pursuant to the exercise
of an Option.

 

(z)
“Outside Director” means a Director who either (i) is not a current employee of the Company or an “affiliated
corporation” (within the meaning of Treasury Regulations promulgated under Section 162(m) of the Code), is not a former
employee of the Company or an “affiliated corporation” who receives compensation for prior services (other than benefits
under a tax-qualified retirement plan) during the taxable year, has not been an officer of the Company or an “affiliated
corporation”, and does not receive remuneration from the Company or an “affiliated corporation,” either directly
or indirectly, in any capacity other than as a Director or (ii) is otherwise considered an “outside director” for
purposes of Section 162(m) of the Code.

 

    4

     

    

 

(aa)
“Participant” means an Optionee or any other person to whom a Stock Award is granted pursuant to the Plan
or, if applicable, such other person who holds an outstanding Stock Award.

 

(bb)
“Performance-Based Award” means a Stock Award granted to selected Covered Employees pursuant to Article
7, but which is subject to the terms and conditions set forth in Article 8.

 

(cc)
“Performance Criteria” means the criteria that the Administrator selects for purposes of establishing the
Performance Goal or Performance Goals for a Participant for a Performance Period. The Performance Criteria that will be used to
establish Performance Goals are limited to the following: net earnings (either before or after interest, taxes, depreciation and
amortization), sales or revenue, net income (either before or after taxes), operating earnings, cash flow (including, but not
limited to, operating cash flow and free cash flow), return on net assets, return on stockholders’ equity, return on sales,
gross or net profit margin, working capital, earnings per share and price per share of Common Stock, the achievement of certain
milestones, customer retention rates, licensing, partnership or other strategic transactions, obtaining a specified level of financing
for the Company, as determined by the Administrator, including the issuance of securities, or the achievement of one or more corporate,
divisional or individual scientific or inventive measures. Any of the criteria identified above may be measured either in absolute
terms or as compared to any incremental increase or as compared to results of a peer group. The Administrator shall, within the
time prescribed by Section 162(m) of the Code, define in an objective fashion the manner of calculating the Performance Criteria
it selects to use for such Performance Period for such Participant.

 

(dd)
“Performance Goals” means, for a Performance Period, the goals established in writing by the Administrator
for the Performance Period based upon the Performance Criteria. Depending on the Performance Criteria used to establish such Performance
Goals, the Performance Goals may be expressed in terms of overall Company performance or the performance of a Subsidiary, division
or other operational unit, or an individual. The Administrator, in its discretion, may, within the time prescribed by Section
162(m) of the Code, adjust or modify the calculation of Performance Goals for such Performance Period in order to prevent the
dilution or enlargement of the rights of Participants (i) in the event of, or in anticipation of, any unusual or extraordinary
corporate item, transaction, event, or development, or (ii) in recognition of, or in anticipation of, any other unusual or nonrecurring
events affecting the Company, or the financial statements of the Company, or in response to, or in anticipation of, changes in
applicable laws, regulations, accounting principles, or business conditions.

 

(ee)
“Performance Period” means the one or more periods of time, which may be of varying and overlapping durations,
as the Administrator may select, over which the attainment of one or more Performance Goals will be measured for the purpose of
determining a Participant’s right to, and the payment of, a Performance-Based Award.

 

    5

     

    

 

(ff)
“Plan” means this 2020 Equity Incentive Plan.

 

(gg)
“Qualified Performance-Based Compensation” means any compensation that is intended to qualify as “qualified
performance-based compensation” as described in Section 162(m)(4)(C) of the Code

 

(hh)
“Restricted Stock” means Common Stock awarded to a Participant pursuant to Section 7(b) that is subject
to certain restrictions and may be subject to risk of forfeiture or repurchase.

 

(ii)
“Restricted Stock Award Agreement” means a written or electronic agreement between the Company and a Participant
evidencing the terms and conditions of a Restricted Stock award. Each Restricted Stock Award Agreement shall be subject to the
terms and conditions of the Plan and any rules and regulations adopted by the Administrator and incorporated therein.

 

(jj)
“Restricted Stock Unit” means a right to receive a share of Common Stock during specified time periods
granted pursuant to Section 7(c).

 

(kk)
“Securities Act” means the Securities Act of 1933, as amended.

 

(ll)
“Stock Award” means any right granted under the Plan, including an Option, a right to acquire Restricted Stock,
a Restricted Stock Unit, a Stock Bonus or a Performance-Based Award.

 

(mm)
“Stock Award Agreement” means any written or electronic agreement, including an Option Agreement, Stock Bonus
Agreement, or Restricted Stock Award Agreement, between the Company and a holder of a Stock Award evidencing the terms and conditions
of an individual Stock Award grant. Each Stock Award Agreement shall be subject to the terms and conditions of the Plan and any
additional rules and regulations adopted by the Administrator and incorporated therein.

 

(nn)
“Stock Bonus” means a payment in the form of shares of Common Stock, or as part of any bonus, deferred
compensation or other arrangement, made in lieu of all or any portion of the compensation, granted pursuant to Section 7(a).

 

(oo)
“Stock Bonus Agreement” means a written or electronic agreement between the Company and a Participant evidencing
the terms and conditions of a Stock Bonus. Each Stock Bonus Agreement shall be subject to the terms and conditions of the Plan
and any rules and regulations adopted by the Administrator and incorporated therein.

 

(pp)
“Ten Percent Stockholder” means a person who owns (or is deemed to own pursuant to Section 424(d) of the Code)
stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or of any
of its Affiliates.

 

(qq)
“Termination of Service” means:

 

(i)
With respect to Stock Awards granted to a Participant in his or her capacity as an Employee, the time when the employer-employee
relationship between the Participant and the Company (or an Affiliate) is terminated for any reason, including, without limitation
a termination by resignation, discharge, death or retirement;

 

    6

     

    

 

(ii)
With respect to Stock Awards granted to a Participant in his or her capacity as a Director, the time when the Participant ceases
to be a Director for any reason, including without limitation a cessation by resignation, removal, failure to be reelected, death
or retirement, but excluding cessations where there is a simultaneous or continuing employment of the former Director by the Company
(or an Affiliate) and the Administrator expressly deems such cessation not to be a Termination of Service;

 

(iii)
With respect to Stock Awards granted to a Participant in his or her capacity as a Consultant, the time when the contractual relationship
between the Participant and the Company (or an Affiliate) is terminated for any reason; and

 

(iv)
With respect to Stock Awards granted to a Participant in his or her capacity as an Employee, Director or Consultant of an Affiliate,
when such entity ceases to qualify as an Affiliate under this Plan, unless earlier terminated as set forth above.

 

The
Administrator, in its sole and absolute discretion, shall determine the effect of all other matters and issues relating to a Termination
of Service.

 

3.
Administration.

 

(a)
Administration by Board. The Plan shall be administered by the Administrator unless and until the Board delegates administration
to a Committee or an Officer, as provided in Section 3(c) below.

 

(b)
Powers of the Administrator. The Administrator shall have the power, except as otherwise provided herein:

 

(i)
To determine from time to time (A) which of the persons eligible under the Plan shall be granted Stock Awards; (B) when and how
the Stock Awards shall be granted; (C) what type or combination of types of Stock Awards will be granted; (D) the terms and conditions
of each Stock Award granted (which need not be identical), including, without limitation, the transferability or repurchase of
such Stock Awards or Award Shares issuable thereunder, as applicable, and the circumstances under which Stock Awards become exercisable
or vested or are forfeited or expire, which terms may but need not be conditioned upon the passage of time, continued employment,
the satisfaction of performance criteria, the occurrence of certain events, or other factors; and (E) the number of Award Shares
subject to a Stock Award that shall be granted to a Participant.

 

(ii)
To construe and interpret the Plan and Stock Awards granted under it, and to make exceptions to any such provisions in good faith
and for the benefit of the Company, and to establish, amend and revoke rules and regulations for the Plan’s administration.
The Administrator, in the exercise of its power, may correct any defect, omission or inconsistency in the Plan or in any Stock
Award Agreement in a manner and to the extent it shall deem necessary or expedient to make the Plan fully effective.

 

    7

     

    

 

(iii)
To settle all controversies regarding the Plan and Stock Awards granted under it.

 

(iv)
To accelerate the time at which a Stock Award may first be exercised or the time during which a Stock Award or any part thereof
will vest in accordance with the Plan, notwithstanding the provisions in the Stock Award stating the time at which it may first
be exercised or the time during which it will vest.

 

(v)
To suspend or terminate the Plan at any time. Suspension or termination of the Plan shall not impair rights and obligations under
any Stock Award granted while the Plan is in effect except with the written consent of the affected Participant.

 

(vi)
To submit any amendment to the Plan for stockholder approval.

 

(vii)
To amend the Plan in any respect the Administrator deems necessary or advisable to provide Participants with the maximum benefits
provided or to be provided under the provisions of the Code and the regulations promulgated thereunder relating to Incentive Stock
Options or to bring the Plan or Incentive Stock Options granted under it into compliance therewith.

 

(viii)
To amend the terms of any one or more Stock Awards, including, but not limited to, amendments to provide terms more favorable
than previously provided in the Stock Award Agreement, subject to any specified limits in the Plan that are not subject to Administrator
discretion; provided, however, that the rights under any Stock Award shall not be impaired by any such amendment unless
(a) the Company requests the consent of the affected Participant, and (b) such Participant consents in writing. Notwithstanding
the foregoing, subject to the limitations of applicable law, if any, and without the affected Participant’s consent, the
Administrator may amend the terms of any one or more Stock Awards if necessary to maintain the qualified status of the Stock Award
as an Incentive Stock Option or to bring the Stock Award into compliance with Section 409A of the Code and Department of Treasury
regulations and other interpretive guidance issued thereunder.

 

(ix)
To amend the Plan as provided in Section 16.

 

(x)
To prescribe and amend the terms of the agreements or other documents evidencing Stock Awards made under this Plan (which need
not be identical).

 

(xi)
To place such restrictions on the sale or other disposition of Award Shares as may be deemed appropriate by the Administrator.

 

(xii)
To determine whether, and the extent to which, adjustments are required pursuant to Section 11.

 

(xiii)
Generally, to exercise such powers and to perform such acts as the Administrator deems necessary or expedient to promote the best
interests of the Company.

 

    8

     

    

 

(c)
Delegation to a Committee.

 

(i)
General. The Board may delegate administration of the Plan to a committee of the Board composed of not fewer than
two (2) members (the “Committee”). If administration is delegated to a Committee, the Committee shall have,
in connection with the administration of the Plan, the powers theretofore possessed by the Board (and references in the Plan to
the Administrator shall thereafter be deemed to be references to the Committee), subject, however, to such resolutions, not inconsistent
with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may abolish the Committee at any
time and revest in the Board the administration of the Plan. Appointment of Committee members shall be effective upon acceptance
of appointment. In its sole discretion, the Board may at any time and from time to time exercise any and all rights and duties
of the Administrator under the Plan except with respect to matters which under Rule 16b-3 under the Exchange Act or Section 162(m)
of the Code, or any regulations or rules issued thereunder, are required to be determined in the sole discretion of the Committee.
Committee members may resign at any time by delivering written notice to the Board. Vacancies in the Committee may only be filled
by the Board.

 

(ii)
Section 162(m) and Rule 16b-3 Compliance.  In the discretion of the Board, the Committee may consist solely
of two or more Outside Directors, in accordance with Section 162(m) of the Code, and/or solely of two or more Non-Employee Directors,
in accordance with Rule 16b-3 of the Exchange Act.  In addition, the Board or the Committee, in its discretion, may (1) delegate
to a committee of one or more members of the Board who need not be Outside Directors the authority to grant Stock Awards to eligible
persons who are either (a) not then Covered Employees and are not expected to be Covered Employees at the time of recognition
of income resulting from such Stock Award, or (b) not persons with respect to whom the Company wishes to comply with Section 162(m)
of the Code, and/or (2) delegate to a committee of one or more members of the Board who need not be Non-Employee Directors the
authority to grant Stock Awards to eligible persons who are not then subject to Section 16 of the Exchange Act.

 

(d)
Effect of Change in Status. The Administrator shall have the absolute discretion to determine the effect upon
a Stock Award, and upon an individual’s status as an Employee, Consultant or Director under the Plan, including whether
a Participant shall be deemed to have experienced a Termination of Service or other change in status, and upon the vesting, expiration
or forfeiture of a Stock Award or Award Shares issuable in respect thereof, in the case of (i) a Termination of Service for cause,
(ii) any leave of absence approved by the Company or an Affiliate, (iii) any transfer between the Company and any Affiliate or
between any Affiliates, (iii) any change in the Participant’s status from an Employee to a Consultant or member of the Administrator
of Directors, or vice versa, and (v) any Employee who becomes employed by any partnership, joint venture, corporation or other
entity not meeting the requirements of an Affiliate.

 

(e)
Determinations of the Administrator. All decisions, determinations and interpretations by the Administrator regarding
this Plan shall be final and binding on all Participants or other persons claiming rights under the Plan or any Stock Award. The
Administrator shall consider such factors as it deems relevant to making such decisions, determinations and interpretations including,
without limitation, the recommendations or advice of any Director, Officer or Employee of the Company and such attorneys, consultants
and accountants as it may select. A Participant or other holder of a Stock Award may contest a decision or action by the Administrator
with respect to such person or Stock Award only on the grounds that such decision or action was arbitrary or capricious or was
unlawful, and any review of such decision or action shall be limited to determining whether the Administrator’s decision
or action was arbitrary or capricious or was unlawful.

 

    9

     

    

 

(f)
Arbitration. Any dispute or claim concerning any Stock Awards granted (or not granted) pursuant to the Plan or any
disputes or claims relating to or arising out of the Plan shall be fully, finally and exclusively resolved by binding and confidential
arbitration conducted pursuant to the rules of Judicial Arbitration and Mediation Services, Inc. (“JAMS”) in
the County of San Diego, California. In addition to any other relief, the arbitrator may award to the prevailing party recovery
of its attorneys’ fees and costs. By accepting a Stock Award, Participants and the Company waive their respective rights
to have any such disputes or claims tried by a judge or jury.

 

4.
Shares Subject to the Plan; Overall Limitation.

 

(a)
Shares Subject to the Plan. Subject to the provisions of Section 11 relating to adjustments upon changes in stock,
the Award Shares that may be issued pursuant to Stock Awards shall not exceed in the aggregate Two Million (2,000,000) shares
of the Company’s Common Stock. Of such amount, Two Million (2,000,000) Award Shares may be issued pursuant to Incentive
Stock Options. In the event that (a) all or any portion of any Stock Award granted or offered under the Plan can no longer under
any circumstances be exercised or otherwise become vested, or (b) any Award Shares are reacquired by the Company which were initially
the subject of a Stock Award Agreement, the Award Shares allocable to the unexercised or unvested portion of such Stock Award,
or the Award Shares so reacquired, shall again be available for grant or issuance under the Plan.

 

(b)
Individual Participant Limitations. Notwithstanding any provision in the Plan to the contrary, and subject to Article
11 below, the maximum number of shares of Common Stock with respect to one or more Stock Awards that may be granted to any one
Participant during any calendar year shall be One Million (1,000,000).

 

5.
Eligibility.

 

(a)
General. Incentive Stock Options may be granted only to Employees; all other Stock Awards may be granted only to Employees,
Directors and Consultants. In the event a Participant is both an Employee and a Director, or a Participant is both a Director
and a Consultant, the Stock Award Agreement shall specify the capacity in which the Participant is granted the Stock Award; provided,
however, if the Stock Award Agreement is silent as to such capacity, the Stock Award shall be deemed to be granted to the
Participant as an Employee or as a Consultant, as applicable.

 

(b)
Ten Percent Stockholders. A Ten Percent Stockholder shall not be granted an Incentive Stock Option unless the exercise
price of such Option is at least one hundred ten percent (110%) of the Fair Market Value of the Common Stock at the date of grant
and the Option is not exercisable after the expiration of five (5) years from the date of grant.

 

    10

     

    

 

6.
Option Agreement Provisions.

 

Each
Option shall be granted pursuant to a written Option Agreement, signed by an Officer of the Company and by the Optionee, which
shall be in such form and shall contain such terms and conditions as the Administrator shall deem appropriate. The provisions
of separate Option Agreements need not be identical, but each Option Agreement shall include (through incorporation of the provisions
hereof by reference in the Option Agreement or otherwise) the substance of each of the following provisions (except to the extent
that any such provision indicates it is permissible rather than mandatory):

 

(a)
Term. No Incentive Stock Option shall be exercisable after the expiration of ten (10) years from the date of its
grant or such shorter period specified in the Option Agreement; provided, however, that an Incentive Stock Option granted
to a Ten Percent Stockholder shall be subject to the provisions of Section 5(b).

 

(b)
Exercise Price of an Option. Subject to the provisions of Section 5(b) regarding Incentive Stock Options granted to
Ten Percent Stockholders, the exercise price of each Incentive Stock Option shall be not less than the Fair Market Value of the
Common Stock subject to the Option on the date the Option is granted. The Administrator shall determine the exercise price of
each Nonstatutory Stock Option. Notwithstanding the foregoing, an Incentive Stock Option may be granted with an exercise price
lower than one hundred percent (100%) of the Fair Market Value of the Common Stock subject to the Option if such Incentive Stock
Option is granted pursuant to an assumption of or substitution for another option in a manner consistent with the provisions of
Section 424(a) of the Code.

 

(c)
Consideration. The purchase price of Common Stock acquired pursuant to the exercise of an Option shall be paid, to
the extent permitted by applicable law and as determined by the Administrator in its sole discretion, by any combination of the
methods of payment set forth below. The Administrator shall have the authority to grant Options that do not permit all of the
following methods of payment (or otherwise restrict the ability to use certain methods) and to grant Options that require the
consent of the Company to utilize a particular method of payment. The methods of payment permitted by this Section 6(c) are:

 

(i)
by cash or check;

 

(ii)
pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Administrator that, prior to the issuance
of Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to
pay the aggregate exercise price to the Company from the sales proceeds;

 

(iii)
by delivery to the Company (either by actual delivery or attestation) of shares of Common Stock;

 

(iv)
by a “cashless exercise” arrangement pursuant to which the Company will reduce the number of shares of Common Stock
issued upon exercise by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise
price; provided, however, that the Company shall accept a cash or other payment from the Participant to the extent of any
remaining balance of the aggregate exercise price not satisfied by such reduction in the number of whole shares to be issued;
provided, further, however, that shares of Common Stock will no longer be outstanding under an Option and will not be exercisable
thereafter to the extent that (A) shares are used to pay the exercise price pursuant to the “cashless exercise,” (B)
shares are delivered to the Participant as a result of such exercise, and (C) shares are withheld to satisfy tax withholding obligations;
or

 

    11

     

    

 

(v)
in any other form of legal consideration that may be acceptable to the Administrator.

 

(d)
Transferability. The following restrictions on the transferability of Options shall apply:

 

(i)
Restrictions on Transfer. An Option shall not be transferable except by will or by the laws of descent and distribution
and shall be exercisable during the lifetime of the Optionee only by the Optionee; provided, however, that the Administrator may,
in its sole discretion, permit transfer of the Option to a revocable trust. Notwithstanding the foregoing, however, an Incentive
Stock Option shall not be transferable other than by will or the laws of descent and distribution, and shall be exercisable only
by the Optionee during the Optionee’s lifetime, except as otherwise permitted by the Administrator and by Sections 421,
422 and 424 of the Code and the regulations and other guidance thereunder.

 

(ii)
Domestic Relations Orders. Notwithstanding the foregoing, an Option may be transferred pursuant to a domestic relations
order; provided, however, that if an Option is an Incentive Stock Option, such Option shall be deemed to be a Nonstatutory
Stock Option as a result of such transfer.

 

(iii)
Beneficiary Designation. Notwithstanding the foregoing, the Optionee may, by delivering written notice to the Company,
in a form provided by or otherwise satisfactory to the Company, designate a third party who, in the event of the death of the
Optionee, shall thereafter be the beneficiary of an Option with the right to exercise the Option and receive the Common Stock
or other consideration resulting from an Option exercise. In the absence of such a designation, the executor or administrator
of the Optionee’s estate shall be entitled to exercise the Option and receive the Common Stock or other consideration resulting
from an Option exercise.

 

(e)
Vesting. Each Option shall vest and become exercisable in one or more installments, at such time or times and subject
to such conditions, including without limitation the achievement of specified performance goals or objectives established with
respect to one or more performance criteria, as shall be determined by the Administrator.

 

(f)
Termination of Service. In the event of the Termination of Service of an Optionee for any reason (other than for “Cause,”
as defined in an Option Agreement, or upon the Optionee’s death or Disability), the Optionee may exercise his or her Option,
but only within such period of time as is set forth in the Option Agreement (and in no event later than the expiration of the
term of such Option as set forth in the Option Agreement). In the case of an Incentive Stock Option, such exercise period provided
in the Option Agreement shall not exceed three (3) months from the date of termination.

 

    12

     

    

 

(g)
Disability of Optionee. In the event of a Termination of Service of an Optionee as a result of the Optionee’s
Disability, the Optionee may exercise his or her Option within the period specified in the Option Agreement (in no event to exceed
twelve (12) months from the date of such termination in the case of an Incentive Stock Option), and only to the extent that the
Optionee was entitled to exercise the Option at the date of such termination (but in no event later than the expiration of the
term of such Option as set forth in the Option Agreement).

 

(h)
Death of Optionee. In the event that (i) an Optionee’s Termination of Service occurs as a result of the Optionee’s
death, or (ii) an Optionee dies within the period (if any) specified in the Option Agreement after the Optionee’s Termination
of Service for a reason other than death, then, notwithstanding Section 6(f) above, the Option may be exercised (to the extent
the Optionee was entitled to exercise such Option as of the date of death) by the Optionee’s estate, by a person who acquired
the right to exercise the Option by bequest or inheritance or by a person designated to exercise the option upon the Optionee’s
death, but only within the period ending on the earlier of (i) the date that is twelve (12) months after the date of Termination
of Service, or (ii) the expiration of the term of such Option as set forth in the Option Agreement.

 

(i)
Termination for Cause. In the event of the Termination of Service of an Optionee for Cause, except as otherwise determined
by the Administrator in the specific situation, all Options granted to such Optionee shall expire as set forth in the Option Agreement.

 

(j)
Extension of Termination Date. An Optionee’s Option Agreement may provide that if the exercise of the Option
following an Optionee’s Termination of Service (other than for Cause or upon the Optionee’s death or Disability) would
be prohibited at any time solely because the issuance of shares of Common Stock would violate the registration requirements under
the Securities Act, then the Option shall terminate on the earlier of (i) the expiration of a period of three (3) months after
the termination of the Optionee’s Continuous Service during which the exercise of the Option would not be in violation of
such registration requirements, or (ii) the expiration of the term of the Option as set forth in the Option Agreement.

 

(k)
Non-Exempt Employees. Unless otherwise determined by the Administrator of Directors, no Option granted to an Employee
that is a non-exempt employee for purposes of the Fair Labor Standards Act of 1938, as amended, shall be first exercisable for
any shares of Common Stock until at least six months following the date of grant of the Option. The foregoing provision is intended
to operate so that any income derived by a non-exempt employee in connection with the exercise or vesting of an Option will be
exempt from his or her regular rate of pay.

 

(l)
Early Exercise. The Option may, but need not, include a provision whereby the Optionee may elect at any time prior
to a Termination of Service to exercise the Option as to any part or all of the Option Shares prior to the full vesting of the
Option. Any unvested Option Shares so purchased may be subject to an unvested share repurchase option in favor of the Company
or to any other restriction the Administrator determines to be appropriate.

 

    13

     

    

 

7.
Provisions of Stock Awards Other Than Options.

 

(a)
Stock Bonus Awards. Stock Bonus awards shall be made pursuant to Stock Bonus Agreements in such form and containing
such terms and conditions as the Administrator shall deem appropriate. The terms and conditions of Stock Bonus Agreements may
change from time to time, and the terms and conditions of separate Stock Bonus Agreements need not be identical, but each Stock
Bonus Agreement shall include (through incorporation of provisions hereof by reference in the agreement or otherwise) the substance
of each of the following provisions (except to the extent that any such provision indicates it is permissible rather than mandatory):

 

(i)
Consideration. A Stock Bonus may be awarded in consideration for past services actually rendered to the Company
or an Affiliate for its benefit, provided that the Participant remains eligible to receive Stock Awards hereunder at the time
of the award.

 

(ii)
Vesting. Award Shares issued pursuant to a Stock Bonus Agreement may, but need not, be subject to a share repurchase
option in favor of the Company in accordance with a vesting schedule to be determined by the Administrator.

 

(iii)
Termination of Service. In the event of a Termination of Service, the Company may reacquire any or all of the Award
Shares held by the Participant which have or have not vested as of the date of termination under the terms of the Stock Bonus
Agreement.

 

(iv)
Transferability. Unless otherwise determined by the Administrator, rights to acquire Award Shares under the Stock
Bonus Agreement shall not be transferable except by will or by the laws of descent and distribution, or, to the extent permitted
by the Administrator, to a revocable trust.

 

(b)
Restricted Stock Awards. Each Restricted Stock award shall be made pursuant to a Restricted Stock Award Agreement in
such form and containing such terms and conditions as the Administrator shall deem appropriate. The terms and conditions of the
Restricted Stock Award Agreements may change from time to time, and the terms and conditions of separate Restricted Stock Award
Agreements need not be identical, but each Restricted Stock Award Agreement shall include (through incorporation of provisions
hereof by reference in the agreement or otherwise) the substance of each of the following provisions (except to the extent that
any such provision indicates it is permissible rather than mandatory):

 

(i)
Purchase Price. The purchase price under each Restricted Stock Award Agreement shall be such amount as the Administrator
shall determine and designate in such Restricted Stock Award Agreement, including no consideration or such minimum consideration
as may be required by applicable law.

 

(ii)
Consideration. The purchase price of Common Stock acquired pursuant to the Restricted Stock Award Agreement, if
any, shall be paid either: (a) in cash at the time of purchase; (b) at the discretion of the Administrator, according to a deferred
payment or other similar arrangement with the Participant; or (c) in any other form of legal consideration that may be acceptable
to the Administrator in its discretion.

 

    14

     

    

 

(iii)
Vesting. Award Shares acquired under the Restricted Stock Award Agreement may, but need not, be subject to a share
repurchase option in favor of the Company in accordance with a vesting schedule to be determined by the Administrator.

 

(iv)
Termination of Service. In the event of a Participant’s Termination of Service, the Company may repurchase
or otherwise reacquire any or all of the Award Shares held by the Participant which have or have not vested as of the date of
termination under the terms of the Restricted Stock Award Agreement.

 

(v)
Transferability. Unless otherwise determined by the Administrator, rights to acquire Award Shares under the Restricted
Stock Award Agreement shall not be transferable except by will, by the laws of descent and distribution, or, to the extent permitted
by the Administrator, to a revocable trust.

 

(c)
Restricted Stock Units. The Administrator is authorized to make Awards of Restricted Stock Units to any Participant
selected by the Administrator in such amounts and subject to such terms and conditions as determined by the Administrator. At
the time of grant, the Administrator shall specify the date or dates on which the Restricted Stock Units shall become fully vested
and nonforfeitable, and may specify such conditions to vesting as it deems appropriate. Alternatively, Restricted Stock Units
may become fully vested and nonforfeitable pursuant to the satisfaction of one or more Performance Goals or other specific performance
goals as the Administrator determines to be appropriate at the time of the grant of the Restricted Stock Units or thereafter,
in each case on a specified date or dates or over any period or periods determined by the Administrator. At the time of grant,
the Administrator shall specify the maturity date applicable to each grant of Restricted Stock Units which shall be no earlier
than the vesting date or dates of the Award and may be determined at the election of the Participant to whom the Award is granted.
On the maturity date, the Company shall transfer to the Participant one unrestricted, fully transferable share of Stock for each
Restricted Stock Unit that is vested and scheduled to be distributed on such date and not previously forfeited. The Administrator
shall specify the purchase price, if any, to be paid by the Participant to the Company for such shares of Stock. All Restricted
Stock Unit awards shall be subject to such additional terms and conditions as determined by the Administrator and shall be evidenced
by a written Stock Award Agreement.

 

8.
Performance-Based Awards.

 

(a)
Purpose. The purpose of this Article 8 is to provide the Administrator the ability to qualify Stock Awards other than
Options as Qualified Performance-Based Compensation. If the Administrator, in its discretion, decides to grant a Performance-Based
Award to a Covered Employee, the provisions of this Article 8 shall control over any contrary provision contained in Article 7;
provided, however, that the Administrator may in its discretion grant Stock Awards to Covered Employees that are based
on Performance Criteria or Performance Goals but that do not satisfy the requirements of this Article 8.

 

(b)
Applicability. This Article 8 shall apply only to those Covered Employees selected by the Administrator to receive
Performance-Based Awards. The designation of a Covered Employee as a Participant for a Performance Period shall not in any manner
entitle the Participant to receive an Award for the period. Moreover, designation of a Covered Employee as a Participant for a
particular Performance Period shall not require designation of such Covered Employee as a Participant in any subsequent Performance
Period and designation of one Covered Employee as a Participant shall not require designation of any other Covered Employees as
a Participant in such period or in any other period.

 

    15

     

    

 

(c)
Procedures with Respect to Performance-Based Awards.  To the extent necessary to comply with the Qualified Performance-Based
Compensation requirements of Section 162(m)(4)(C) of the Code, with respect to any Award granted under Article 7 which may be
granted to one or more Covered Employees, no later than ninety (90) days following the commencement of any fiscal year in question
or any other designated fiscal period or period of service (or such other time as may be required or permitted by Section 162(m)
of the Code), the Administrator shall, in writing, (a) designate one or more Covered Employees, (b) select the Performance Criteria
applicable to the Performance Period, (c) establish the Performance Goals, and amounts of such Awards, as applicable, which may
be earned for such Performance Period, and (d) specify the relationship between Performance Criteria and the Performance Goals
and the amounts of such Awards, as applicable, to be earned by each Covered Employee for such Performance Period. Following the
completion of each Performance Period, the Administrator shall certify in writing whether the applicable Performance Goals have
been achieved for such Performance Period. In determining the amount earned by a Covered Employee, the Administrator shall have
the right to reduce or eliminate (but not to increase) the amount payable at a given level of performance to take into account
additional factors that the Administrator may deem relevant to the assessment of individual or corporate performance for the Performance
Period.

 

(d)
Payment of Performance-Based Awards. Unless otherwise provided in the applicable Stock Award Agreement, a Participant
must be employed by the Company or a Parent or Subsidiary on the day a Performance-Based Award for such Performance Period is
paid to the Participant. Furthermore, a Participant shall be eligible to receive payment pursuant to a Performance-Based Award
for a Performance Period only if the Performance Goals for such period are achieved.

 

(e)
Additional Limitations. Notwithstanding any other provision of the Plan, any Award which is granted to a Covered Employee
and is intended to constitute Qualified Performance-Based Compensation shall be subject to any additional limitations set forth
in Section 162(m) of the Code (including any amendment to Section 162(m) of the Code) or any regulations or rulings issued thereunder
that are requirements for qualification as qualified performance-based compensation as described in Section 162(m)(4)(C) of the
Code, and the Plan shall be deemed amended to the extent necessary to conform to such requirements.

 

9.
Covenants of the Company.

 

(a)
Availability of Shares. During the terms of the Stock Awards, the Company shall keep available at all times the number
of shares of Common Stock required to satisfy such Stock Awards.

 

    16

     

    

 

(b)
Compliance with Laws and Regulations. This Plan, the grant and exercise of Stock Awards thereunder, and the obligation
of the Company to sell, issue or deliver Award Shares under such Stock Awards, shall be subject to all applicable federal, state
and local laws, rules and regulations and to such approvals by any governmental or regulatory agency as may be required. The Company
shall not be required to register in a Participant’s name or deliver any Award Shares prior to the completion of any registration
or qualification of such Shares under any federal, state or local law or any ruling or regulation of any government body which
the Administrator shall determine to be necessary or advisable. To the extent the Company is unable to or the Administrator deems
it infeasible to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s
counsel to be necessary or advisable for the lawful issuance and sale of any Award Shares hereunder, the Company shall be relieved
of any liability with respect to the failure to issue or sell such Award Shares as to which such requisite authority shall not
have been obtained. No Option shall be exercisable and no Award Shares shall be issued and/or transferable under any other Stock
Award unless a registration statement with respect to the Award Shares underlying such Stock Award is effective and current or
the Company has determined that such registration is unnecessary.

 

10.
Use of Proceeds.

 

Proceeds
from the sale of Award Shares shall constitute general funds of the Company and shall be used for general operating capital of
the Company.

 

11.
Adjustments Upon Change in Common Stock.

 

If
any change is made in the Common Stock subject to the Plan or subject to any Stock Award without the receipt of consideration
by the Company (through merger, consolidation, reorganization, recapitalization, reclassification, stock dividend, dividend in
property other than cash, stock split, reverse stock split, liquidating dividend, exchange of shares, change in corporate structure
or other distribution of the Company’s equity securities), the Plan and all outstanding Stock Awards will be appropriately
adjusted in the class and maximum number of shares subject to the Plan and the class and number of shares and price per share
of Common Stock subject to outstanding Stock Awards. Such adjustment shall be made by the Administrator, the determination of
which shall be final, binding and conclusive.

 

12.
Adjustments Upon Change in Control.

 

(a)
The Administrator shall have the discretion to provide in each Stock Award Agreement the terms and conditions that relate
to (i) vesting of such Stock Award in the event of a Change in Control, and (ii) assumption of such Stock Award Agreements or
issuance of comparable securities under an incentive program in the event of a Change in Control. The aforementioned terms and
conditions may vary in each Stock Award Agreement.

 

(b)
If the terms of an outstanding Option Agreement provide for accelerated vesting in the event of a Change in Control, or to
the extent that an Option is vested and not yet exercised, the Administrator in its discretion may provide, in connection with
the Change in Control transaction, for the purchase or exchange of each Option for an amount of cash or other property having
a value equal to the difference (or “spread”) between: (x) the value of the cash or other property that the Optionee
would have received pursuant to the Change in Control transaction in exchange for the vested Option Shares issuable upon exercise
of the Option had the Option been exercised immediately prior to the Change in Control, and (y) the aggregate exercise price of
the vested Option Shares. If in such case the aggregate exercise price of the vested Option Shares is greater than or equal to
the value of the cash or other property that the Optionee would have received pursuant to the Change in Control transaction in
exchange for the vested Option Shares had the Option been exercised immediately prior to the Change in Control, then the Option
shall be cancelled and Optionee shall receive no payment for such Option Shares. Upon such purchase, exchange or cancellation,
the Option shall be terminated and Optionee shall have no further rights with respect to such Option.

 

    17

     

    

 

(c)
Outstanding Options shall terminate and cease to be exercisable upon consummation of a Change in Control except to the extent
that the Options are assumed by the successor entity (or parent thereof) pursuant to the terms of the Change in Control transaction.

 

13.
Acceleration of Exercisability and Vesting.

 

The
Administrator shall have the power to accelerate the time at which any or all Stock Awards may first be exercised or the time
during which any or all Stock Awards or any part thereof will vest in accordance with the Plan, notwithstanding the provisions
in any Stock Award stating the time at which it may first be exercised or the time during which it will vest. By approval of the
Plan, the Company’s stockholders consent to any such accelerations in the Administrator’s sole discretion.

 

14.
Dissolution or Liquidation.

 

In
the event of a dissolution or liquidation of the Company, then all outstanding Stock Awards shall terminate immediately prior
to such event.

 

15.
Miscellaneous.

 

(a)
Stockholder Rights. Neither a Participant nor any person to whom a Stock Award is transferred shall be deemed to be
the holder of, or to have any of the rights of a holder with respect to, any Award Shares unless and until such person has satisfied
all requirements for exercise of the Stock Award pursuant to its terms and the Company has duly issued a stock certificate for
such Award Shares.

 

(b)
No Employment or Other Service Rights. Nothing in the Plan or any Stock Award Agreement shall confer upon any Participant
any right to continue to serve the Company or an Affiliate in the capacity in effect at the time the Stock Award was granted or
shall affect the right of the Company or an Affiliate to terminate (i) the employment of an Employee with or without notice and
with or without Cause; (ii) the service of a Consultant pursuant to the terms of such Consultant’s agreement with the Company
or an Affiliate; or (iii) the service of a Director pursuant to the Bylaws or Certificate of Incorporation of the Company or an
Affiliate, and any applicable provisions of the corporate law of the state in which the Company or the Affiliate is incorporated,
as the case may be.

 

    18

     

    

 

(c)
Incentive Stock Option $100,000 Limitation. To the extent that the aggregate Fair Market Value (determined at the time
of grant) of Common Stock with respect to which Incentive Stock Options are exercisable for the first time by any Optionee during
any calendar year (under all plans of the Company and any Affiliates) exceeds One Hundred Thousand Dollars ($100,000), the Options
or portions thereof that exceed such limit (according to the order in which they were granted) shall be treated as Nonstatutory
Stock Options, notwithstanding any contrary provision of the applicable Option Agreement(s).

 

(d)
Investment Assurances. The Company may require a Participant, as a condition of exercising an Option or otherwise acquiring
Common Stock under any Stock Award, (i) to give written assurances satisfactory to the Company as to the Participant’s knowledge
and experience in financial and business matters and/or to employ a purchaser representative reasonably satisfactory to the Company
who is knowledgeable and experienced in financial and business matters and that he or she is capable of evaluating, alone or together
with the purchaser representative, the merits and risks of exercising the Stock Award; and (ii) to give written assurances satisfactory
to the Company stating that the Participant is acquiring Common Stock subject to the Stock Award for the Participant’s own
account and not with any present intention of selling or otherwise distributing the Common Stock. The foregoing requirements,
and any assurances given pursuant to such requirements, shall be inoperative if (x) the issuance of the shares upon the exercise
or acquisition of Common Stock under the Stock Award has been registered under a then currently effective registration statement
under the Securities Act; or (y) as to any particular requirement, a determination is made by counsel for the Company that such
requirement need not be met in the circumstances under the then applicable securities laws. The Company may, upon advice of counsel
to the Company, place legends on stock certificates issued under the Plan as such counsel deems necessary or appropriate in order
to comply with applicable securities laws, including, but not limited to, legends restricting the transfer of the Common Stock.

 

(e)
Withholding Obligations. The Company may, in its sole discretion, satisfy any federal, state or local tax withholding
obligation relating to a Stock Award by any of the following means (in addition to the Company’s right to withhold from
any compensation paid to the Participant by the Company) or by a combination of such means: (i) causing the Participant to tender
a cash payment; (ii)  withholding shares of Common Stock from the shares of Common Stock issued or otherwise issuable
to the Participant in connection with the Stock Award, provided that no shares of Common Stock are withheld with a value exceeding
the minimum amount of tax required to be withheld by law (or such lower amount as may be necessary to avoid classification of
the Stock Award as a liability); or (iii) by such other method as may be set forth in the Stock Award Agreement.

 

(f)
Compliance with Section 409A of the Code. To the extent applicable, the Plan and Stock Award Agreements shall be interpreted
in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder,
including without limitation any such regulations or other guidance that may be issued or amended after the Effective Date (as
defined in Section 18 below). Notwithstanding any provision of the Plan or Stock Award to the contrary, in the event that following
the Effective Date the Administrator determines that any Stock Award may be subject to Section 409A of the Code and related Department
of Treasury guidance (including such Department of Treasury guidance as may be issued after the Effective Date), the Administrator
may adopt such amendments to the Plan and the applicable Stock Award Agreement or adopt other policies and procedures (including
amendments, policies and procedures with retroactive effect), or take any other actions, that the Administrator determines are
necessary or appropriate to (i) exempt the Stock Award from Section 409A of the Code and/or preserve the intended tax treatment
of the benefits provided with respect to the Stock Award; or (ii) comply with the requirements of Section 409A of the Code and
Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations
or other guidance that may be issued or amended after the Effective Date.

 

    19

     

    

 

16.
Amendment of the Plan.

 

(a)
In General. The Administrator at any time, and from time to time, may amend the Plan. However, no amendment shall be
effective unless approved by the stockholders of the Company within twelve (12) months before or after the adoption of the amendment
where the amendment will:

 

(i)
Increase the number of shares reserved for Stock Awards under the Plan, except as provided in Section 11 relating to adjustments
upon changes in Common Stock;

 

(ii)
Modify the requirements as to eligibility for participation in the Plan (to the extent such modification requires stockholder
approval in order for the Plan to satisfy the requirements of Section 422 of the Code); or

 

(iii)
Modify the Plan in any other way if such modification requires stockholder approval in order for the Plan to satisfy the requirements
of Section 422 of the Code.

 

(b)
Amendment to Maximize Benefits. It is expressly contemplated that the Administrator may amend the Plan in any respect
the Administrator deems necessary or advisable to provide Participants with the maximum benefits provided or to be provided under
the provisions of the Code and the regulations promulgated thereunder relating to Incentive Stock Options and/or to bring the
Plan and/or Incentive Stock Options granted under the Plan into compliance therewith.

 

(c)
No Impairment. The rights and obligations under any Stock Award granted before any amendment of the Plan shall not
be altered or impaired by such amendment unless the Company requests the consent of the person to whom the Stock Award was granted
and such person consents in writing; provided, however, that notwithstanding anything to the contrary in this Section
16 or elsewhere in this Plan, no such consent shall be required with respect to any amendment or alteration if the Administrator
determines in its sole discretion that such amendment or alteration either (i) is required or advisable in order for the Company,
the Plan or the Stock Award to satisfy or conform to any law or regulation or to meet the requirements of any accounting standard,
or (ii) is not reasonably likely to significantly diminish the benefits provided under such Award, or that any such diminishment
has been adequately compensated.

 

17.
Termination or Suspension of the Plan.

 

(a)
Termination or Suspension. The Board may suspend or terminate the Plan at any time. Unless sooner terminated, the Plan
shall terminate on September 29, 2030 (which shall be within ten (10) years from the date the Plan is adopted by the Board or
approved by the stockholders of the Company, whichever is earlier), and no Stock Awards may be granted under the Plan while the
Plan is suspended or after it is terminated, but Stock Awards and Stock Award Agreements then outstanding shall continue in effect
in accordance with their respective terms.

 

    20

     

    

 

(b)
No Impairment. Rights and obligations under any Stock Award granted while the Plan is in effect shall not be altered
or impaired by suspension or termination of the Plan, except as otherwise provided herein or with the consent of the person to
whom the Stock Award was granted.

 

18.
Effective Date of Plan.

 

The
Plan became effective on September 30, 2020, which is the date that the Plan was originally adopted by the Board (the “Effective
Date”).

 

19.
Non-Exclusivity of the Plan

 

Neither
the adoption of this Plan by the Board nor the submission of this Plan to the stockholders of the Company for approval shall be
construed as creating any limitations on the power of the Board to adopt such other incentive arrangements as either may deem
desirable, including, without limitation, the granting of stock options or restricted stock otherwise than under this Plan, and
such arrangements may be either generally applicable or applicable only in specific cases.

 

20.
Liability of the Company.

 

The
Company and the members of the Board shall not be liable to a Participant or any other persons as to: (a) the non-issuance or
non-transfer, or any delay of issuance or transfer, of any Award Shares which results from the inability of the Company to comply
with, or to obtain, or from any delay in obtaining from any regulatory body having jurisdiction, all requisite authority to issue
or transfer Award Shares if counsel for the Company deems such authority reasonably necessary for lawful issuance or transfer
of any such shares and, in furtherance thereof, appropriate legends may be placed on the stock certificates evidencing Award Shares
to reflect such transfer restrictions; and (b) any tax consequence expected, but not realized, by any Participant or other person
due to the receipt, exercise or settlement of any Option or other Stock Award granted hereunder.

 

21.
Choice of Law.

 

The
laws of the State of Delaware shall govern all questions concerning the construction, validity and interpretation of this Plan,
without regard to such state’s conflict of laws rules.

 

    21

     

    

 

 

Stock
Option Agreement

(Incentive Stock Option or Nonstatutory Stock Option)

 

Logiq,
inc. 2020 equity incentive plan 

 

Effective
as of September 30, 2020

 

Pursuant
to the Stock Option Grant Notice (“Grant Notice”) and this Stock Option Agreement (“Option Agreement”),
Logiq, Inc., a Delaware corporation (the “Company”), has granted to Optionee an option under its 2020 Equity
Incentive Plan (the “Plan”), to purchase the number of shares of the Company’s Common Stock indicated
in Optionee’s Grant Notice, at the exercise price indicated in such Grant Notice. This Option Agreement is incorporated
by reference into and made a part of the Grant Notice. Whenever capitalized terms are used in this Option Agreement, they shall
have the meaning specified (i) in the Plan, (ii) in the relevant Grant Notice, or (iii) below, unless the context clearly indicates
to the contrary.

 

The
details of the Option granted to Optionee are as follows:

 

1. Term
of Option. Subject to the maximum time limitations in Sections 5(b) and 6(a) of the Plan, the term of the Option shall
be the period commencing on the Date of Grant and ending on the Expiration Date (as defined in the Grant Notice), unless terminated
earlier as provided herein or in the Plan.

 

2. Exercise
Price. The Exercise Price of the Option granted hereby shall be as provided in the Grant Notice.

 

3. Exercise
of Option.

 

(a) The
Grant Notice sets forth the rate at which the Option Shares shall become subject to purchase (“vest”) by Optionee.

 

(b) In
the event of a Change in Control of the Company, except as otherwise may be provided in the Plan or Grant Notice, the vesting
of the Option shall not accelerate, and the Option shall terminate if not exercised (to the extent then vested and exercisable)
at or prior to such Change in Control.

 

(c) Optionee
shall exercise the Option, to the extent exercisable, in whole or in part, by sending written notice to the Company on a Notice
of Exercise in the form attached to the Grant Notice of his or her intention to purchase Option Shares hereunder, together with
a check in the amount of the full purchase price of the Option Shares to be purchased, or such other form of payment as permitted
by the Grant Notice. Except as otherwise consented to by the Company, Optionee shall not exercise the Option at any one time with
respect to less than five percent (5%) of the total Option Shares set forth in the Grant Notice unless Optionee exercises all
of the Option then vested and exercisable.

 

(d) If
the Option is an Incentive Stock Option, by Optionee’s exercise of the Option, Optionee agrees that he or she will notify
the Company in writing within fifteen (15) days after the date of any disposition of any of the shares of the Common Stock issued
upon exercise of the Option that occurs within two (2) years after the date of the Date of Grant or within one (1) year after
such shares of Common Stock are transferred upon exercise of the Option.

 

     

     

    

 

(e) Optionee
agrees to complete and execute any additional documents which the Company reasonably requests that Optionee complete in order
to comply with applicable federal, state and local securities laws, rules and regulations.

 

(f) Subject
to the Company’s compliance with all applicable laws, rules and regulations relating to the issuance of such Option Shares
and Optionee’s compliance with all the terms and conditions of the Grant Notice, this Option Agreement, and the Plan, the
Company shall promptly deliver the Option Shares to Optionee.

 

(g) Except
as otherwise provided herein or in the Plan, the Option may be exercised during the lifetime of Optionee only by Optionee.

 

(h) In
the event that Optionee is an Employee eligible for overtime compensation under the Fair Labor Standards Act of 1938, as amended
(i.e., a “Non-Exempt Employee”), Optionee may not exercise his or her Option until the later date (i)
that he or she shall have completed at least six (6) months of service to the Company measured from the Date of Grant specified
in Optionee’s Grant Notice, or (ii) the date set forth in the Grant Notice. 

 

4. Exercise
Prior to Vesting (“Early Exercise”). If expressly permitted by the Grant Notice and subject to the provisions
of this Option Agreement, Optionee may, at any time that is both (i) prior to a Termination of Service; and (ii) prior to the
Expiration Date, elect to exercise all or part of the Option, including the nonvested portion of the Option; provided, however,
that:

 

(a) a
partial exercise of the Option shall be deemed to cover first any vested Option Shares and then the earliest vesting installment(s)
of unvested Option Shares;

 

(b) any
Option Shares so purchased from installments which have not vested as of the date of exercise shall be subject to a purchase option
in favor of the Company, pursuant to an Early Exercise Stock Purchase Agreement in form satisfactory to the Company;

 

(c) Optionee
shall enter into the Early Exercise Stock Purchase Agreement with a vesting schedule that will result in the same vesting as if
no early exercise had occurred; and

 

(d) as
provided in the Plan, if the Option is an Incentive Stock Option, to the extent that the aggregate Fair Market Value (determined
at the time of grant) of Common Stock with respect to which the Option plus all other Incentive Stock Options held by Optionee
are exercisable for the first time during any calendar year (under all plans of the Company and its Affiliates) exceeds One Hundred
Thousand Dollars ($100,000), the Options or portions thereof that exceed such limit (according to the order in which they were
granted) shall be treated as Nonstatutory Stock Options.

 

5. Option
Not Transferable. The Option granted hereunder shall not be transferable in any manner other than as provided in Section
6(d) of the Plan. More particularly (but without limiting the foregoing), the Option may not be assigned, transferred (except
as expressly provided in the Plan), pledged or hypothecated in any way, shall not be assignable by operation of law and shall
not be subject to execution, attachment or similar process. Any attempted assignment, transfer, pledge, hypothecation or other
disposition of the Option contrary to the provisions hereof, or the levy of any execution, attachment or similar process upon
the Option, shall be null and void and without effect.

 

    2

     

    

 

6. Termination
of Option.

 

(a) To
the extent not previously exercised, the Option shall terminate on the Expiration Date; provided, however, that except
as otherwise provided in this Section 6, the Option may not be exercised more than sixty (60) days after the Termination of
Service of Optionee for any reason (other than for Cause, as defined in the Plan, or upon Optionee’s death or Disability).
Within such sixty (60)-day period, except as may otherwise be specifically provided in this Option Agreement or any other
agreement between Optionee and the Company which has been approved by the Board, Optionee may exercise the Option only to the
extent the same was exercisable on the date of such termination and said right to exercise shall terminate at the end of such
period.

 

(b) In
the event of the Termination of Service of Optionee as a result of Optionee’s Disability, the Option shall be exercisable
for a period of six (6) months from the date of such termination, but in no event later than the Expiration Date and only to the
extent that the Option was exercisable on the date of such termination.

 

(c) In
the event of the Termination of Service of Optionee as a result of Optionee’s death, the Option shall be exercisable by
Optionee’s estate (or by the person who acquires the right to exercise the Option by will or by the laws of descent and
distribution) for a period of twelve (12) months from the date of such termination, but in no event later than the Expiration
Date and only to the extent that Optionee was entitled to exercise the Option on the date of death.

 

(d) In
the event of the Termination of Service of Optionee for Cause (as defined below), unless otherwise determined by the Board, (A)
the Option shall expire as of the date of the first occurrence giving rise to such termination or upon the Expiration Date, whichever
is earlier; (B) Optionee shall have no rights with respect to any unexercised portion of the Option; and (C) any Option Shares
issued in respect of the exercise of the Option on or after the date of the first act and/or event constituting Cause shall have
occurred shall be deemed to have been issued in respect of an expired option, and shall thereupon be deemed null and void ab
initio, and Optionee shall have no claims to, or rights in, any such Option Shares. “Cause” means with respect
to Optionee, the occurrence of any of the following events, as reasonably determined by the Board in each case: (i) Optionee’s
commission of any felony or any crime involving fraud, dishonesty or moral turpitude under the laws of the United States or any
state thereof; (ii) Optionee’s commission, or attempted commission, of, or participation in, a fraud or act of dishonesty
against the Company or any Affiliate, or any of their respective employees, officers or directors; (iii) Optionee’s intentional,
material violation of any contract or agreement between the Optionee and the Company or any Affiliate or of any statutory duty
owed to the Company or any Affiliate; (iv) Optionee’s unauthorized use or disclosure of the Company’s or an Affiliate’s
material confidential information or trade secrets; (v) Optionee’s gross misconduct in connection with Optionee’s
service to the Company or an Affiliate; or (vi) Optionee’s failure to promptly return all documents and other tangible items
belonging to the Company or its Affiliates in the Participant’s possession or control, including all complete or partial
copies, recordings, abstracts, notes or reproductions of any kind made from or about such documents or information contained therein,
upon a Termination of Service for any reason. “Cause” shall not require that a civil judgment or criminal conviction
have been entered against, or guilty plea shall have been made by, Optionee regarding any of the matters referred to in clauses
(i) through (vi). Accordingly, the Board shall be entitled to determine “Cause” based on its good faith belief. If
the Optionee is criminally charged with a felony or similar offense, that shall be a sufficient, but not a necessary, basis for
such a belief. Unless otherwise specifically provided in the Grant Notice, the foregoing definition of “Cause” shall
apply for all purposes relating to the Option, notwithstanding any employment or other agreement by and between Optionee and the
Company or any Affiliate thereof that defines a termination on account of “Cause” (or a term having similar meaning).
Any determination by the Board that an Optionee’s Termination of Service is for Cause may be made following a Termination
of Service and shall be communicated by written notice to Optionee within 30 days after a Termination of Service; provided,
however, that after such 30-day period, the Board may make a determination that a Termination of Service is for “Cause”
based upon clear and convincing evidence subsequently received by the Board, that an event or events constituting Cause have occurred
on or prior the date of the Termination of Service and, in such event, any Option Shares issued in respect of the exercise of
the Option on or after the date that the first act and/or event constituting Cause shall have occurred, shall be deemed to have
been issued in respect of an expired option and shall thereupon be deemed null and void ab initio, and Optionee shall have
no claims to, or rights in, any such Option Shares. 

 

    3

     

    

 

(e) Notwithstanding
the foregoing, the Option is subject to earlier termination upon a Change in Control, as provided in Section 3(b) above and in
Section 11 of the Plan, or upon the dissolution of the Company. If the Option will terminate in connection with a Change in Control,
the Company shall provide written notice to Optionee of a proposed transaction constituting a Change in Control, not less than
ten (10) days prior to the anticipated effective date of the proposed transaction.

 

(f) Notwithstanding
anything herein to the contrary, no portion of any Option which is not exercisable by Optionee upon the Termination of Service
of such Optionee shall thereafter become exercisable, regardless of the reason for such termination, except as may otherwise be
specifically provided in this Option Agreement or any other agreement between Optionee and the Company which has been approved
by the Board.

 

7. No
Right to Continued Service. The Option does not confer upon Optionee any right to continue as an Employee or Director
of, or Consultant to, the Company or an Affiliate, nor does it limit in any way the right of the Company or an Affiliate to terminate
Optionee’s employment or other relationship with the Company or an Affiliate, at any time, with or without Cause.

 

8. Right
of Repurchase of Option Shares.

 

(a) In
furtherance of, and not in limitation of Section 5, the Option Shares issued pursuant to the Option shall be subject to a right,
but not an obligation, of repurchase by the Company and/or its assignee(s) (the “Right of Repurchase”), at
the price determined under Section 8(b) below, if prior to the termination of the Right of Repurchase as provided in Section 10(d)
below, a Termination of Service occurs for any reason, including as a result of Optionee’s death or Disability. Without
the Company’s prior written consent, Option Shares issued by the Company shall not be transferable by Optionee during the
period during which the Right of Repurchase applies, and the Company may take such steps as it deems necessary to ensure compliance
with this restriction.

 

(b) The
price per share at which the Company may exercise the Right of Repurchase (the “Repurchase Price”) shall be
the Fair Market Value of an Option Share on the date the Company exercises its Right of Repurchase, except as otherwise provided
in an Early Exercise Stock Purchase Agreement referred to in Section 4.

 

    4

     

    

 

(c) The
Company’s Right of Repurchase shall terminate if not exercised by written notice from the Company to Optionee within ninety
(90) days after the Termination of Service (or within 90 days after the date of exercise in the case of Option Shares purchased
after the Termination of Service). If the Company exercises its Right of Repurchase, it shall give notice thereof to Optionee
within such ninety (90)-day period, and, upon receipt of such notice, Optionee shall immediately endorse and deliver to the Company
the stock certificate(s) representing the Option Shares being repurchased, and the Company shall then promptly pay, pursuant to
the provisions of Section 8(d) below, the total Repurchase Price to Optionee. If the Company exercises its Right of Repurchase,
it may exercise its right with respect to all or part of such Option Shares.

 

(d) The
Repurchase Price shall be paid first by cancellation of any obligation for accrued but unpaid interest outstanding under notes
issued by Optionee upon purchase of the Option Shares (if any), next by cancellation of principal outstanding under such notes
(if any), and finally by payment in cash of the balance due.

 

(e) In
the event the Company does not elect to exercise its Right of Repurchase within the ninety (90)-day period, the Option Shares
shall no longer be subject to repurchase by the Company pursuant to this Section 8.

 

9. Right
of First Refusal. Optionee agrees that he or she will not sell or otherwise transfer any Option Shares (including transfer
by operation of law) at any time before or after the expiration of the Right of Repurchase and prior to the termination of this
Section 9 pursuant to Section 10(d) below unless such Option Shares shall first be offered to the Company as follows:

 

(a) Optionee
shall deliver a notice (the “Notice”) to the Company, stating (i) Optionee’s bona fide intention to sell
or transfer such Option Shares, to a third party purchaser in a bona fide arms length transaction, pursuant to a written agreement
in respect thereof; (ii) the number of such Option Shares to be sold or transferred; (iii) the consideration for which Optionee
proposes to sell or transfer such Option Shares; (iv) the terms of payment of such consideration and any other terms and conditions
of sale; and (v) the name of the proposed purchaser or transferee.

 

(b) Within
sixty (60) days after receipt of the Notice, the Company may elect to purchase any or all of the Option Shares to which the Notice
refers, for the consideration per share and upon the terms and conditions specified in the Notice, except as set forth in Section 9(e)
below for transfers involving non-cash consideration. If the Company elects not to purchase all such Option Shares, the Company
may assign its right to purchase the remaining Option Shares. The Company’s assignees may elect, within sixty (60) days
after receipt by the Company of the Notice, to purchase any or all Option Shares to which the Notice refers which the Company
has not elected to purchase, for the consideration per share and upon the terms and conditions specified in the Notice, except
as set forth in Section 9(e) below. An election to purchase shall be made by written notice to Optionee, specifying the number
of Option Shares to be purchased. If the Company and/or its assignees elect to purchase the offered Option Shares, they shall
complete the purchase within ninety (90) days after receipt by the Company of the Notice, unless a longer period is set forth
in the Notice.

 

(c) If
the Company and/or its assignees do not elect to so purchase all of such offered Option Shares within such sixty (60)-day period,
Optionee shall have no obligation to transfer such Option Shares to the Company and/or its assignees and Optionee shall have a
period of thirty (30) days thereafter to transfer all (but not less than all) of such Option Shares to the transferee referred
to in the Notice and for the same consideration and on the other terms as set forth therein; provided, however, that prior
to any transfer of such Option Shares, the proposed transferee shall execute and deliver to the Company an agreement with the
Company, in form and substance satisfactory to the Company, pursuant to which such transferee agrees to be subject to the relevant
provisions of this Option Agreement.

 

    5

     

    

 

(d) In
the event that such Option Shares are not transferred to the transferee referred to in the Notice and in accordance with the terms
of this Option Agreement within such 30-day period, the restrictions on transfer provided in this Section 9 shall again
become applicable to the Option Shares.

 

(e) If
part or all of the purchase consideration specified in a Notice delivered by Optionee pursuant to this Section 9 is other than
cash or purchaser’s promissory note or other evidence of indebtedness, the Company and its assignee(s) shall have the right
to purchase the Option Shares specified in the Notice for a cash price equal to the Fair Market Value of the number of Option
Shares to be so purchased by the Company and/or its assignee(s). The Fair Market Value of any Option Shares shall be as determined
in good faith by the Company’s Board of Directors.

 

(f) Notwithstanding
anything in this Section 9 or elsewhere in this Agreement to the contrary, if at any time following the exercise of all or a portion
of this Option, the Company’s Bylaws contain provisions regarding the right of the Company to repurchase its securities
from shareholders holding Option Share, then such provisions shall govern the rights of the Company and/or any other party to
repurchase shares of the Company’s stock from any shareholder, including the Option Shares, and the provisions of this Section
9 shall be inapplicable. Optionee agrees to be bound by all of the provisions of the Bylaws granting the Company a right to repurchase
its securities, if any.

 

10. Other
Provisions Regarding Transfer.

 

(a) Optionee,
as a condition for accepting any Option Shares, shall not sell, transfer or pledge any Option Shares subject to the Right of Repurchase
described in Section 8 or the right of first refusal described in Section 9 hereof, other than in the manner expressly
permitted in this Option Agreement, and any such sale, transfer or pledge of the Option Shares in violation of this Agreement
shall be void. The Company shall not be required (i) to transfer on its books any Option Shares which shall have been sold or
transferred in violation of any of the provisions set forth in this Option Agreement or (ii) to treat as the owner of such Option
Shares or accord the right to vote or pay dividends to any transferee to whom such Option Shares shall have been so transferred.

 

(b) Notwithstanding
anything to the contrary contained herein, Optionee is under no restrictions as to the transfer by him or her of any or all of
the issued Option Shares to his or her Related Transferees (as defined herein), provided that each such Related Transferee shall
first (i) execute a written consent to be bound by all of the relevant provisions of this Option Agreement in form and substance
satisfactory to the Company; and (ii) give a duplicate original of such consent to the Company. The “Related Transferees”
of Optionee as used herein shall consist of Optionee’s spouse, his or her adult lineal descendants, the adult spouses of
his or her lineal descendants and trusts for the benefit of any of the foregoing, Optionee and/or his or her minor lineal descendants.
In the event of any transfer by Optionee to his or her Related Transferees of all or any part of the Option Shares (or in the
event of any subsequent transfer by any such Related Transferee to another Related Transferee of Optionee), such Related Transferees
shall receive and hold the Option Shares subject to the relevant terms of this Option Agreement and Optionee’s rights and
obligations hereunder as though the Option Shares were still owned by Optionee and shall together with Optionee continue to be
deemed to be the “Optionee” for purposes of this Option Agreement, including without limitation restrictions on the
transfer of Option Shares. There shall be no further transfer of the Option Shares by a Related Transferee except between and
among such Related Transferee, the Optionee and other Related Transferees of Optionee, or except as permitted by this Option Agreement.
The Company advises Optionee to seek independent tax counsel prior to transferring any Option Shares to any Related Transferee.

 

    6

     

    

 

(c) Optionee
hereby grants to the Company a security interest in the Option Shares for the purpose of ensuring that a transfer in violation
of the restrictions set forth in Sections 8, 9 and 10 of this Agreement does not occur. In furtherance of such security interest,
the Company may, at its option, retain the certificate(s) evidencing the Option Shares, together with stock assignments executed
in blank by Optionee, until such transfer restrictions terminate in accordance with Section 10(d). Optionee hereby grants to any
officer(s) of the Company the power of attorney to cause the Option Shares to be transferred on the books of the Company in the
event the Company and/or its assignees repurchase some or all of the Option Shares in accordance with this Option Agreement.

 

(d) Notwithstanding
anything herein contained to the contrary, for so long as the Company shall have elected to be treated as a subchapter S corporation
pursuant to the Code, no Optionee shall transfer any Option or any Option Shares to any person or entity or in any manner which
would cause the S election theretofore made by Company to be terminated or revoked. Any such transfer or attempted transfer shall
be void ab initio.

 

(e) The
transfer restrictions provided in Sections 8, 9 and 10 hereof may be terminated on such conditions as the Board may determine
in its sole discretion.

 

11. Notice
of Tax Election. If Optionee makes any tax election relating to the treatment of the Option Shares under the Internal
Revenue Code of 1986, as amended, Optionee shall promptly notify the Company of such election.

 

12. Market
Stand-Off.

 

(a) By
Optionee exercising his or her Option, Optionee agrees not to sell, dispose of, transfer, make any short sale of, grant any option
for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any shares of Common
Stock or other securities of the Company held by Optionee, for a period of one hundred eighty (180) days following the effective
date of a registration statement of the Company filed under the Securities Act or such longer period as necessary to permit compliance
with the FINRA Rule of Conduct or Rule 472(f)(4) of the New York Stock Exchange, as amended, and similar or successor regulatory
rules and regulations (the “Lock-Up Period”); provided, however, that nothing contained in this section
shall prevent the exercise of a repurchase option, if any, in favor of the Company during the Lock-Up Period. Optionee further
agrees to execute and deliver such other agreements as may be reasonably requested by the Company and/or the underwriter(s) that
are consistent with the foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing covenant,
the Company may impose stop-transfer instructions with respect to Optionee’s shares of Common Stock until the end of such
period. The underwriters of the Company’s stock are intended third party beneficiaries of this Section 12(a) and shall have
the right, power and authority to enforce the provisions hereof as though they were a party hereto.

 

    7

     

    

 

(b) In
order to enforce the provisions of this Section 12, the Company may impose stop-transfer instructions with respect to the Option
Shares until the end of the applicable Lock-Up Period.

 

13. Acknowledgments
of Optionee. Optionee acknowledges and agrees that:

 

(a) Although
the Company has made a good faith attempt to qualify the Option as an incentive stock option within the meaning of Sections 421,
422 and 424 of the Code (if the Grant Notice provides that the Option is an Incentive Stock Option), the Company does not warrant
that the Option granted herein constitutes an “incentive stock option” within the meaning of such sections, or that
the transfer of Option Shares will be treated for federal income tax purposes as specified in Section 421 of the Code.

 

(b) In
the event the Option is not an incentive stock option within the meaning of Sections 421, 422 and 424 of the Code (whether or
not the Grant Notice provides that the Option is an Incentive Stock Option) and it is determined that the per share Exercise Price
of the Option (as set forth in the Notice of Grant of Option) is less than the fair market value of a share of the Company’s
Common Stock as of the date of grant of the Option, Optionee could have deferred compensation pursuant to Section 409A of the
Code in an amount equal to the difference between the fair market value of a share of the Company's Common Stock as of the date
that the Option vests and the per share Exercise Price multiplied by the number of Option Shares then vesting (the “spread”).
As a result, because the Option likely will not be compliant with the rules in respect of deferred compensation under Section
409A, Optionee could have taxable income (taxed at ordinary income tax rates) in an amount equal to the spread on each vesting
date. Optionee would also incur a tax equal to 20% of the spread (and to the extent that Optionee is a California resident, Optionee
could incur an additional tax equal to 20% of the spread). The Company does not warrant that the Exercise Price of the Option
is equal to or greater than the fair market value of the Common Stock as of the date of grant. Because the issues relating to
Section 409A are complex, the Company recommends that Optionee consult with his or her tax advisors as to the possible tax consequences
arising from the grant of the Option.

 

(c) Optionee
shall notify the Company in writing within fifteen (15) days of each disposition (including a sale, exchange, gift or a transfer
of legal title) of the Option Shares made within three years after the issuance of such Option Shares.

 

(d) If
the Grant Notice provides that the Option is an Incentive Stock Option, Optionee understands that if, among other things, he or
she disposes of any Option Shares granted within two years of the granting of the Option to him or her or within one year of the
issuance of such shares to him or her, then such Option Shares will not qualify for the beneficial treatment which Optionee might
otherwise receive under Sections 421 and 422 of the Code.

 

(e) Optionee
and his or her transferees shall have no rights as a shareholder with respect to any Option Shares until the date of the issuance
of a stock certificate evidencing such Option Shares. No adjustment shall be made for dividends (ordinary or extraordinary, whether
in cash, securities or other property) or distributions or other rights for which the record date is prior to the date such stock
certificate is issued, except as provided in Section 10 of the Plan.

 

    8

     

    

 

(f) All
certificates representing the Option Shares shall have endorsed thereon the following legends, the provisions of which are hereby
incorporated into this Option Agreement by this reference, and such other legends as the Company deems necessary or appropriate:

 

THE
SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR THE SECURITIES LAWS OF ANY STATE AND HAVE BEEN ISSUED AND SOLD PURSUANT TO AN EXEMPTION FROM THE ACT AND MAY NOT BE SOLD, PLEDGED
OR OTHERWISE TRANSFERRED BY THE HOLDERS THEREOF AT ANY TIME EXCEPT (1) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT FILED UNDER
THE ACT COVERING THE SECURITIES, OR (2) IF, IN THE REASONABLE OPINION OF COUNSEL TO THE CORPORATION, SUCH SHARES MAY BE TRANSFERRED
WITHOUT SUCH REGISTRATION.

 

IN
ADDITION, THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A RIGHT OF REPURCHASE AND RIGHT OF FIRST REFUSAL OPTION
IN FAVOR OF THE CORPORATION, AND THE SALE, TRANSFER OR HYPOTHECATION OF THE SECURITIES REPRESENTED HEREBY IS RESTRICTED BY THE
PROVISIONS OF A STOCK OPTION AGREEMENT ENTERED INTO BY THE CORPORATION AND THIS STOCKHOLDER, A COPY OF WHICH IS ON FILE AT THE
PRINCIPAL OFFICE OF THE CORPORATION AND ALL OF THE PROVISIONS OF WHICH ARE INCORPORATED HEREIN.

 

14. Investment
Representations. As an inducement to the Company to grant the Option and issue the Option Shares to Optionee, Optionee
hereby makes the following representations and warranties, and authorizes the Company to rely upon the same:

 

(a) Optionee
will acquire the Option Shares for investment for his or her own account, not for resale, without any intention of or view toward
or for participating, directly or indirectly, in a distribution of the Option Shares or any portion thereof.

 

(b) Optionee
understands that an investment in the Company is speculative, that any possible profits therefrom are uncertain, and that he or
she must bear the economic risks of the investment in the Company for an indefinite period of time.

 

(c) Optionee
understands that the Option Shares have not been registered under the Securities Act in reliance on the exemption provided by
Rule 701 promulgated thereunder for compensatory benefit plans; and that the Option Shares have not been registered or qualified
under the “blue sky” laws of any state.

 

(d) Optionee
understands that the Option Shares may have to be held indefinitely unless they are subsequently registered under the Securities
Act and qualified or registered under other applicable securities laws, rules and regulations, which is unlikely, or unless an
exemption from such qualification or registration is available.

 

    9

     

    

 

(e) Optionee
understands and agrees that (i) the legends set forth in Section 13(f) hereof will be placed on the certificate(s) evidencing
the Option Shares and, except as otherwise herein provided for, on certificate(s) issued to transferees; (ii) the stock records
of the Company will be noted with respect to such restrictions; (iii) the Company will not be under any obligation to register
the Option Shares or to comply with any exemption available for sale of the Option Shares without registration; and (iv) the information
or conditions necessary to permit routine sales of securities of the Company under Rule 144 of the Securities Act are not now
available and it is not likely that they will become available in the foreseeable future.

 

(f) Optionee
is a bona fide resident and domiciliary of, not a temporary transient resident of, and has his or her principal residence in,
the state or other jurisdiction set forth under Optionee’s signature in the Grant Notice, and Optionee does not have any
present intention of moving his or her principal residence from such state or jurisdiction.

 

15. Withholding
Obligations. Whenever Option Shares are to be issued under the Option Agreement, the Company shall have the right to require
Optionee to remit to the Company an amount sufficient to satisfy federal, state and local withholding tax requirements prior to
issuance and/or delivery of any certificate or certificates for such Option Shares.

 

16. No
Obligation to Notify. The Company shall have no duty or obligation to Optionee to advise Optionee as to the time or manner
of exercising the Option. Furthermore, except as specifically set forth herein or in the Plan, the Company shall have no duty
or obligation to warn or otherwise advise Optionee of a pending termination or expiration of the Option or a possible period in
which the Option may not be exercised. The Company has no duty or obligation to minimize the tax consequences of the Option granted
to Optionee.

 

17. Miscellaneous.

 

(a) This
Option Agreement shall bind and inure to the benefit of the parties’ heirs, legal representatives, successors and permitted
assigns.

 

(b) This
Option Agreement, the Grant Notice and the Plan, constitute the entire agreement between the parties pertaining to the subject
matter contained herein and they supersede all prior and contemporaneous agreements, representations and understandings of the
parties. No supplement, modification or amendment of this Option Agreement shall be binding unless executed in writing by all
of the parties. No waiver of any of the provisions of this Option Agreement shall be deemed or shall constitute a waiver of any
other provisions, whether or not similar, nor shall any waiver constitute a continuing waiver. No waiver shall be binding unless
executed in writing by the party making the waiver. In the event there exists any conflict or discrepancy between any of the terms
in the Plan and this Option Agreement, the terms of the Plan shall be controlling. A copy of the Plan has been delivered to Optionee
and also may be inspected by Optionee at the principal office of the Company.

 

(c) Should
any portion of the Plan, the Grant Notice or this Option Agreement be declared invalid and unenforceable, then such portion shall
be deemed to be severable from this Option Agreement and shall not affect the remainder hereof.

 

    10

     

    

 

(d) All
notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (i) upon personal delivery
to the party to be notified; (ii) three (3) days after having been sent by registered or certified mail, return receipt requested,
postage prepaid; or (iii) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery,
with written verification of receipt. All communications shall be sent to the Company at its principal executive office, and to
Optionee at the address set forth in the Option Agreement, or at such other address as the Company or Optionee may designate by
ten (10) days advance written notice to the other party hereto.

 

(e) Any
dispute or claim concerning the Option Agreement or the Plan or any disputes or claims relating to or arising out of the Option
Agreement or the Plan shall be fully, finally and exclusively resolved by binding and confidential arbitration conducted pursuant
to the rules of Judicial Arbitration and Mediation Services, Inc. in the county encompassing the Company’s principal place
of business pursuant, to its employment arbitration rules and procedures (attached hereto in their current form as Annex A),
as may be updated, amended or modified form time to time (with such updated, amended or modified rules available at http://www.jamsadr.com/rules-employment-arbitration/).
In addition to any other relief, the arbitrator may award to the prevailing party recovery of its attorneys’ fees and costs.
By executing the Option Agreement, the Company and Optionee waive their respective rights to have any such disputes or claims
tried by a judge or jury.

 

(f) This
Option Agreement shall be construed according to the internal laws of the State of Delaware.

 

[Remainder
of page intentionally left blank]

 

    11

     

    

 

ANNEX
A

 

JAMS
RULES

 

 

    12

     

    

 

 

Logiq,
inc

stock option grant notice

2020 equity incentive plan

 

FOR
GOOD AND VALUABLE CONSIDERATION, Logiq, Inc., a Delaware corporation (the “Company”), hereby grants to the
Optionee named below, a stock option (the “Option”) to purchase any part or all of the specified number of
shares of its Common Stock (“Option Shares”), upon the terms and subject to the conditions set forth in this
Stock Option Grant Notice (the “Grant Notice”), at the specified purchase price per share without commission
or other charge. The Option is granted pursuant to the Company’s 2020 Equity Incentive Plan (the “Plan”),
attached hereto, and the Stock Option Agreement (the “Option Agreement”), attached hereto and promulgated under
the Plan and in effect as of the date of this Grant Notice.

 

	Optionee:
	 
	Date
    of Grant:	 
	Vesting
    Commencement Date:	 
	Number
    of Option Shares:	 
	Exercise
    Price (Per Share):	 
	Total
    Exercise Price:	 
	Expiration
    Date:	Ten years after Date of Grant*

 

	1.	Type of Grant:	☐	Incentive Stock Option1	☐	Nonstatutory Stock Option
	 	 	 	 	 	 
	2.	Exercise Schedule:	☒	Same as Vesting Schedule	☐	Early Exercise Permitted

 

3.     Vesting
Schedule:          Except as otherwise herein provided or as set forth in the
Option Agreement, the number of Option Shares that are vested (disregarding any resulting fractional share) as of any date shall
be determined as follows: [(i) no Option Shares will be vested prior to the Vesting Commencement Date; (ii) twenty-five percent
(25%) of the Option Shares will be vested and exercisable upon the one (1) year anniversary of the Vesting Commencement Date;
and (iii) the remaining Option Shares will vest and become exercisable in a series of thirty-six (36) successive equal monthly
installments, rounded downward to the nearest whole share, measured from the first (1st) anniversary of the Vesting
Commencement Date, such that 100% of the Option Shares will be vested and exercisable upon the fourth (4th) anniversary
of the Vesting Commencement Date; provided, however, that there has not been a Termination of Service (as defined in the
Plan), as of each such date. In no event will the Option become exercisable for any additional Option Shares after a Termination
of Service.]

 

	4.	Payment:	By one or a combination of the following
    items (described in the Plan):
	 	 	 	 

	 		☒	By cash or check
	 	 	 	 
	 		☐	By net exercise, if the Company has established procedures for net exercise

 

5.       Additional
Terms/Acknowledgements: The undersigned Optionee acknowledges receipt of, and understands and agrees to, this Grant Notice,
the Option Agreement, and the Plan. Further, by their signatures below, the Company and the Optionee agree that the Option is
governed by this Grant Notice and by the provisions of the Plan and Option Agreement, both of which are attached to and made a
part of this Grant Notice. Optionee acknowledges receipt of copies of the Plan and the Option Agreement, represents that the Optionee
has read and is familiar with their provisions, and hereby accepts the Option subject to all of their terms and conditions. Optionee
further acknowledges that, as of the Date of Grant, this Grant Notice, the Option Agreement and the Plan set forth the entire
understanding between Optionee and the Company regarding the acquisition of stock in the Company and supersede all prior oral
and written agreements on that subject, with the exception of options previously granted under the Plan.

 

 

		1	If this
                                         is an Incentive Stock Option, it (plus other outstanding Incentive Stock Options) cannot
                                         be first exercisable for more than $100,000 in value (measured by exercise price)
                                         in any calendar year. Any excess over $100,000 is a Nonstatutory Stock Option.

 

     

     

    

 

The
Exercise Price (Per Share) has been set at no less than one hundred percent (100%) of the fair market value of the Common Stock
on the Date of Grant based on what the Company regards as good faith compliance with the applicable guidance issued by the Internal
Revenue Service (“IRS”) under Section 409A of the Code (“Section 409A”) in order to avoid
the Option being treated as deferred compensation under Section 409A. However, the Company can give no assurance that the IRS
will agree that the Exercise Price Per Share is at least one hundred percent (100%) of the fair market value of the Common Stock
on the Date of Grant. Accordingly, by signing below, Optionee agrees and acknowledges that the Company and each of its officers,
employees, directors and shareholders shall not be liable to Optionee or any other person for any applicable taxes, interest,
penalties or other costs associated with the Option if the IRS were to determine that the Option constitutes deferred compensation
under Section 409A. The undersigned Optionee should consult with his or her own tax advisor concerning the tax consequences of
the Option as deferred compensation under Section 409A.

 

*Optionee
understands and acknowledges that: (i) the vesting of the Option Shares will terminate upon a Termination of Service (as defined
in the Plan) to the Company; (ii) the Option may generally only be exercisable for a short period of time following a Termination
of Service, and will thereafter terminate; and (iii) the Option Shares are subject to a Right of Repurchase and a Right of First
Refusal in favor of the Company as set forth in the Option Agreement.

 

	Logiq, inc.	 	Optionee: [Name]
	 	 	 
	By: 	 	 	 	 
	 	Signature	 	 	Signature
	Title: 	 	 	Date: 	 
	 	 	 	 	 
	Date: 	 	 	 	 

 

		Attachments:	(I)
                                         Option Agreement

(II)
2020 Equity Incentive Plan

(III)
Notice of Exercise

 

     

     

    

 

Attachment
I

 

Option
Agreement

 

    2

     

    

 

Attachment
II

 

2020
Equity Incentive Plan

 

    3

     

    

 

Attachment
III

 

Notice
Of Exercise

 

Logiq,
Inc.

85
Broad Street, 16-079

New
York, NY 10004

 

Date
of Exercise: _______________

 

Ladies
and Gentlemen:

 

This
constitutes notice under my Option that I elect to purchase the number of shares for the price set forth below.

 

	 	

        Type
        of option (check one):
	Incentive  ☐	Nonstatutory  ☐
	 	Date
    of grant:	_______________	_______________
	 	Number
    of shares as to which option is

    exercised:	_______________	_______________
	 	Certificates
    to be issued in name of:	_______________	_______________
	 	Total
    exercise price:	$______________	$______________
	 	Cash
    or check payment delivered

    herewith:	$______________	$______________

 

 

By
this exercise, I agree (i) to provide such additional documents as you may require pursuant to the terms of the Logiq, Inc. 2020
Equity Incentive Plan, (ii) to provide for the payment by me to you (in the manner designated by you) of your withholding obligation,
if any, relating to the exercise of this Option, and (iii) if this exercise relates to an incentive stock option, to notify you
in writing within fifteen (15) days after the date of any disposition of any of the shares of Common Stock issued upon exercise
of this Option that occurs within two (2) years after the date of grant of this Option or within one (1) year after such shares
of Common Stock are issued upon exercise of this Option.

 

I
hereby make the following certifications and representations with respect to the number of shares of Common Stock of the Company
listed above (the “Shares”), which are being acquired by me for my own account upon exercise of the Option
as set forth above:

 

I
acknowledge that the Shares have not been registered under the Securities Act of 1933, as amended (the “Securities Act”),
and are deemed to constitute “restricted securities” under Rule 701 and Rule 144 promulgated under the Securities
Act. I warrant and represent to the Company that I have no present intention of distributing or selling said Shares, except as
permitted under the Option Agreement (as defined in the Grant Notice executed by me), Securities Act and any applicable state
securities laws.

 

I
further acknowledge that I will not be able to resell the Shares except as otherwise permitted in the Option Agreement, and for
at least ninety days (90) after the stock of the Company becomes publicly traded (i.e., subject to the reporting requirements
of Section 13 or 15(d) of the Securities Exchange Act of 1934) under Rule 701 and that more restrictive conditions apply
to affiliates of the Company under Rule 144.

 

    4

     

    

 

I
further acknowledge that all certificates representing any of the Shares subject to the provisions of the Option shall have endorsed
thereon appropriate legends reflecting the foregoing limitations, as well as any legends reflecting restrictions pursuant to the
Option Agreement, the Company’s Certificate of Incorporation, Bylaws and/or applicable securities laws.

 

I
further agree that, if required by the Company (or a representative of the underwriters) in connection with the first underwritten
registration of the offering of any securities of the Company under the Securities Act, I will not sell, dispose of, transfer,
make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic
effect as a sale, any shares of Common Stock or other securities of the Company for a period of one hundred eighty (180) days
following the effective date of a registration statement of the Company filed under the Securities Act or such longer period as
necessary to permit compliance the FINRA Rule of Conduct or Rule 472(f)(4) of the New York Stock Exchange, as amended, or any
similar or successor regulatory rules and regulations. I further agree to execute and deliver such other agreements as may be
reasonably requested by the Company and/or the underwriter(s) that are consistent with the foregoing or that are necessary to
give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with
respect to securities subject to the foregoing restrictions until the end of such period.

 

	 	Very truly yours,
	 	 
	 	 

 

    5

     

    

 

LOGIQ, INC.

2020 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AGREEMENT

 

NOTICE OF RESTRICTED
STOCK UNIT GRANT

 

Unless otherwise defined
herein, the terms defined in the Logiq, Inc. 2020 Equity Incentive Plan (the “Plan”) will have the same defined meanings
in this Restricted Stock Unit Agreement, which includes the Notice of Restricted Stock Unit Grant (the “Notice of Grant”)(all
together, the “Award Agreement”).

 

Participant:

 

Address:

 

The undersigned Participant
has been granted the right to receive an Award of Restricted Stock Units, subject to the terms and conditions of the Plan and
this Award Agreement, as follows:

 

Date of Grant:__________________________________________________________________________

 

Vesting Commencement
Date: ______________________________________________________________   

 

Number of Restricted
Stock Units: ____________________________________   _________________            

 

Vesting Schedule:

 

Subject to any acceleration
provisions contained in the Plan or set forth below, the Restricted Stock Units will vest in accordance with the following schedule:

 

[Twenty-five percent
(25%) of the Restricted Stock Units will vest on the one (1)-year anniversary of the Vesting Commencement Date, and one sixteenth
(1/16th) of the Restricted Stock Units will vest on each Quarterly Vesting Date (as defined below) thereafter, subject to Participant
continuing to be a Service Provider through each such date.]

 

A “Quarterly
Vesting Date” is the first trading day on or after each of February 15, May 15, August 15, and November 15.

 

In the event Participant
ceases to be a Service Provider for any or no reason before Participant vests in the Restricted Stock Units, the Restricted Stock
Units and Participant’s right to acquire any Shares hereunder will immediately terminate.

 

     

     

    

 

By Participant’s
signature and the signature of the representative of Logiq, Inc. (the “Company”) below, Participant and the Company
agree that this Award of Restricted Stock Units is granted under and governed by the terms and conditions of the Plan and this
Award Agreement, all of which are made a part of this document. Participant acknowledges receipt of a copy of the Plan. Participant
has reviewed the Plan and this Award Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior
to executing this Award Agreement, and fully understands all provisions of the Plan and this Award Agreement. Participant hereby
agrees to accept as binding, conclusive, and final all decisions or interpretations of the Administrator upon any questions relating
to the Plan and the Award Agreement. Participant further agrees to notify the Company upon any change in the residence address
indicated below.

 

	PARTICIPANT:	 	LOGIQ, INC.:
		 	
	 	 	 
	Signature	 	Signature
		 	
	 	 	 
	Print Name	 	Print Name
	 	 	 
	Address:	 	
	 	 	 
		 	Title

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