Document:

INDEMNIFICATION AGREEMENT

 

THIS INDEMNIFICATION AGREEMENT (“Agreement”)
is made and entered into as of the _____ day of May, 2014, by and between Reven Housing REIT, Inc., a Maryland corporation (the
“Company”), and ________________________ (“Indemnitee”).

 

WHEREAS, at the request of the Company,
Indemnitee currently serves as ___________ of the Company and may, therefore, be subjected to claims, suits or proceedings
arising as a result of such service;

 

WHEREAS, as an inducement to Indemnitee
to serve or continue to serve in such capacity, the Company has agreed to indemnify Indemnitee and to advance expenses and costs
incurred by Indemnitee in connection with any such claims, suits or proceedings, to the maximum extent permitted by law; and

 

WHEREAS, the parties by this Agreement desire
to set forth their agreement regarding indemnification and advance of expenses and to supersede any prior agreement to which the
Company and Indemnitee are parties regarding the same; provided that this Agreement shall not be deemed exclusive of any other
rights to which Indemnitee may at any time be entitled under applicable law, the charter or Bylaws of the Company, any agreement
entered into after the date hereof or a resolution of the stockholders entitled to vote generally in the election of directors
or of the Board of Directors, or otherwise.

 

NOW, THEREFORE, in consideration of the
premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

 

Section 1.               
Definitions. For purposes of this Agreement:

 

(a)               
“Change in Control” means a change in control of the Company occurring after the Effective Date of a nature
that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar
item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), whether or not the Company is then subject to such reporting requirement; provided, however, that, without limitation,
such a Change in Control shall be deemed to have occurred if, after the Effective Date (i) any “person” (as such term
is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial owner” (as defined in Rule 13d-3
under the Exchange Act), directly or indirectly, of securities of the Company representing 15% or more of the combined voting power
of all of the Company’s then-outstanding securities entitled to vote generally in the election of directors without the prior
approval of at least two-thirds of the members of the Board of Directors in office immediately prior to such person’s attaining
such percentage interest; (ii) the Company is a party to a merger, consolidation, sale of assets, plan of liquidation or other
reorganization not approved by at least two-thirds of the members of the Board of Directors then in office, as a consequence of
which members of the Board of Directors in office immediately prior to such transaction or event constitute less than a majority
of the Board of Directors thereafter; or (iii) at any time, a majority of the members of the Board of Directors are not individuals
(A) who were directors as of the Effective Date or (B) whose election by the Board of Directors or nomination for election by the
Company’s stockholders was approved by the affirmative vote of at least two-thirds of the directors then in office who were
directors as of the Effective Date or whose election or nomination for election was previously so approved.

 

    	 

    	 

    

 

(b)              
“Corporate Status” means the status of a person as a present or former director, officer, employee or agent
of the Company or as a director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other
foreign or domestic corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise
in each case where such person is or was serving in such capacity at the request of the Company. As a clarification and without
limiting the circumstances in which Indemnitee may be serving at the request of the Company, service by Indemnitee shall be deemed
to be at the request of the Company: (i) if Indemnitee serves or served as a director, trustee, officer, partner, manager, managing
member, fiduciary, employee or agent of any corporation, partnership, limited liability company, joint venture, trust or other
enterprise (1) of which a majority of the voting power or equity interest is or was owned directly or indirectly by the Company
or (2) the management of which is controlled directly or indirectly by the Company and (ii) if, as a result of Indemnitee’s
service to the Company or any of its affiliated entities, Indemnitee is subject to duties by, or required to perform services for,
an employee benefit plan or its participants or beneficiaries, including as a deemed fiduciary thereof.

 

(c)               
“Disinterested Director” means a director of the Company who is not and was not a party to the Proceeding in
respect of which indemnification and/or advance of Expenses is sought by Indemnitee.

 

(d)              
“Effective Date” means April 1, 2014.

 

(e)               
“Expenses” means any and all reasonable and out-of-pocket attorneys’ fees and costs, retainers, court
costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone
charges, postage, delivery service fees, federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual
or deemed receipt of any payments under this Agreement, ERISA excise taxes and any other disbursements or expenses incurred in
connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in
or otherwise participating in a Proceeding. Expenses shall also include Expenses incurred in connection with any appeal resulting
from any Proceeding, including, without limitation, the premium, security for and other costs relating to any cost bond, supersedeas
bond or other appeal bond or its equivalent.

 

(f)               
“Independent Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation
law and neither is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter
material to either such party (other than with respect to matters concerning Indemnitee under this Agreement or of other indemnitees
under similar indemnification agreements), or (ii) any other party to or participant or witness in the Proceeding giving rise
to a claim for indemnification or advance of Expenses hereunder. Notwithstanding the foregoing, the term “Independent Counsel”
shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict
of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

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(g)              
“Proceeding” means any threatened, pending or completed action, suit, arbitration, alternate dispute resolution
mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought
by or in the right of the Company or otherwise and whether of a civil (including intentional or unintentional tort claims), criminal,
administrative or investigative (formal or informal) nature, including any appeal therefrom, except one pending or completed on
or before the Effective Date, unless otherwise specifically agreed in writing by the Company and Indemnitee. If Indemnitee reasonably
believes that a given situation may lead to or culminate in the institution of a Proceeding, such situation shall also be considered
a Proceeding.

 

Section 2.               
Services by Indemnitee. Indemnitee will serve in the capacity or capacities set forth in the first WHEREAS clause
above. However, this Agreement shall not impose any independent obligation on Indemnitee or the Company to continue Indemnitee’s
service to the Company. This Agreement shall not be deemed an employment contract between the Company (or any other entity) and
Indemnitee.

 

Section 3.               
General. The Company shall indemnify, and advance Expenses to, Indemnitee (a) as provided in this Agreement
and (b) otherwise to the maximum extent permitted by Maryland law in effect on the Effective Date and as amended from time
to time; provided, however, that no change in Maryland law shall have the effect of reducing the benefits available to Indemnitee
hereunder based on Maryland law as in effect on the Effective Date. The rights of Indemnitee provided in this Section 3 shall include,
without limitation, the rights set forth in the other sections of this Agreement, including any additional indemnification permitted
by the Maryland General Corporation Law (the “MGCL”), including, without limitation, Section 2-418 of the MGCL.

 

Section 4.               
Standard for Indemnification. If, by reason of Indemnitee’s Corporate Status, Indemnitee is, or is threatened
to be, made a party to any Proceeding, the Company shall indemnify Indemnitee against all judgments, penalties, fines and amounts
paid in settlement and all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection
with any such Proceeding unless it is established that (a) the act or omission of Indemnitee was material to the matter giving
rise to the Proceeding and (i) was committed in bad faith or (ii) was the result of active and deliberate dishonesty,
(b) Indemnitee actually received an improper personal benefit in money, property or services or (c) in the case of any
criminal Proceeding, Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful.

 

Section 5.               
Certain Limits on Indemnification. Notwithstanding any other provision of this Agreement (other than Section 6),
Indemnitee shall not be entitled to:

 

(a)               
indemnification hereunder if the Proceeding was one by or in the right of the Company and Indemnitee is adjudged, in a final
adjudication of the Proceeding not subject to further appeal, to be liable to the Company;

 

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(b)              
indemnification hereunder if Indemnitee is adjudged, in a final adjudication of the Proceeding not subject to further appeal,
to be liable on the basis that personal benefit was improperly received in any Proceeding charging improper personal benefit to
Indemnitee, whether or not involving action in the Indemnitee’s Corporate Status; or

 

(c)               
indemnification or advance of Expenses hereunder if the Proceeding was brought by Indemnitee, unless: (i) the Proceeding
was brought to enforce indemnification under this Agreement, and then only to the extent in accordance with and as authorized by
Section 12 of this Agreement, or (ii) the Company’s charter or Bylaws, a resolution of the stockholders entitled to
vote generally in the election of directors or of the Board of Directors or an agreement approved by the Board of Directors to
which the Company is a party expressly provide otherwise.

 

Section 6.               
Court-Ordered Indemnification. Notwithstanding any other provision of this Agreement, a court of appropriate jurisdiction,
upon application of Indemnitee and such notice as the court shall require, may order indemnification of Indemnitee by the Company
in the following circumstances:

 

(a)               
if such court determines that Indemnitee is entitled to reimbursement under Section 2-418(d)(1) of the MGCL, the court shall
order indemnification, in which case Indemnitee shall be entitled to recover the Expenses of securing such reimbursement; or

 

(b)              
if such court determines that Indemnitee is fairly and reasonably entitled to indemnification in view of all the relevant
circumstances, whether or not Indemnitee (i) has met the standards of conduct set forth in Section 2-418(b) of the MGCL or
(ii) has been adjudged liable for receipt of an improper personal benefit under Section 2-418(c) of the MGCL, the court may
order such indemnification as the court shall deem proper without regard to any limitation on such court-ordered indemnification
contemplated by Section 2-418(d)(2)(ii) of the MGCL.

 

Section 7.               
Indemnification for Expenses of an Indemnitee Who is Wholly or Partially Successful. Notwithstanding any other provision
of this Agreement, and without limiting any such provision, to the extent that Indemnitee was or is, by reason of Indemnitee’s
Corporate Status, made a party to (or otherwise becomes a participant in) any Proceeding and is successful, on the merits or otherwise,
in the defense of such Proceeding, the Company shall indemnify Indemnitee for all Expenses actually and reasonably incurred by
Indemnitee or on Indemnitee’s behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but
is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the
Company shall indemnify Indemnitee under this Section 7 for all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s
behalf in connection with each such claim, issue or matter, allocated on a reasonable and proportionate basis. For purposes of
this Section 7 and, without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or
without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

 

Section 8.               
Advance of Expenses for Indemnitee. If, by reason of Indemnitee’s Corporate Status, Indemnitee is, or is threatened
to be, made a party to any Proceeding, the Company shall, without requiring a preliminary determination of Indemnitee’s ultimate
entitlement to indemnification hereunder, advance all Expenses incurred by or on behalf of Indemnitee in connection with such Proceeding.
The Company shall make such advance within ten days after the receipt by the Company of a statement or statements requesting such
advance from time to time, whether prior to or after final disposition of such Proceeding and may be in the form of, in the reasonable
discretion of the Indemnitee (but without duplication) (a) payment of such Expenses directly to third parties on behalf of Indemnitee,
(b) advance of funds to Indemnitee in an amount sufficient to pay such Expenses or (c) reimbursement to Indemnitee for Indemnitee’s
payment of such Expenses. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall
include or be preceded or accompanied by a written affirmation by Indemnitee and a written undertaking by or on behalf of Indemnitee,
in substantially the form attached hereto as Exhibit A or in such form as may be required under applicable law as in effect
at the time of the execution thereof. To the extent that Expenses advanced to Indemnitee do not relate to a specific claim, issue
or matter in the Proceeding, such Expenses shall be allocated on a reasonable and proportionate basis. The undertaking required
by this Section 8 shall be an unlimited general obligation by or on behalf of Indemnitee and shall be accepted without reference
to Indemnitee’s financial ability to repay such advanced Expenses and without any requirement to post security therefor.

 

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Section 9.               
Indemnification and Advance of Expenses as a Witness or Other Participant. Notwithstanding any other provision of
this Agreement, to the extent that Indemnitee is or may be, by reason of Indemnitee’s Corporate Status, made a witness or
otherwise asked to participate in any Proceeding, whether instituted by the Company or any other person, and to which Indemnitee
is not a party, Indemnitee shall be advanced and indemnified against all Expenses actually and reasonably incurred by Indemnitee
or on Indemnitee’s behalf in connection therewith within ten days after the receipt by the Company of a statement or statements
requesting any such advance or indemnification from time to time, whether prior to or after final disposition of such Proceeding.
Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee. In connection with any such advance
of Expenses, the Company may require Indemnitee to provide an undertaking and affirmation substantially in the form attached hereto
as Exhibit A.

 

Section 10.           
Procedure for Determination of Entitlement to Indemnification.

 

(a)               
To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein
or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine
whether and to what extent Indemnitee is entitled to indemnification. Indemnitee may submit one or more such requests from time
to time and at such time(s) as Indemnitee deems appropriate in Indemnitee’s sole discretion. The officer of the Company receiving
any such request from Indemnitee shall, promptly upon receipt of such a request for indemnification, advise the Board of Directors
in writing that Indemnitee has requested indemnification.

 

(b)              
Upon written request by Indemnitee for indemnification pursuant to Section 10(a) above, a determination, if required by
applicable law, with respect to Indemnitee’s entitlement thereto shall promptly be made in the specific case: (i) if a Change
in Control has occurred, by Independent Counsel, in a written opinion to the Board of Directors, a copy of which shall be delivered
to Indemnitee, which Independent Counsel shall be selected by the Indemnitee and approved by the Board of Directors in accordance
with Section 2-418(e)(2)(ii) of the MGCL, which approval shall not be unreasonably withheld; or (ii) if a Change in Control
has not occurred, (A) by a majority vote of the Disinterested Directors or, if the Disinterested Directors constitute less than
a quorum, by a majority vote of a committee of one or more Disinterested Directors designated by a majority vote of the Board of
Directors (which may include Disinterested Directors and directors who are parties to the Proceeding) to make the determination,
(B) if Independent Counsel has been selected by the Board of Directors in accordance with Section 2-418(e)(2)(ii) of the MGCL and
approved by the Indemnitee, which approval shall not be unreasonably withheld or delayed, by Independent Counsel, in a written
opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee or (C) if so directed by the Board of Directors,
by the stockholders of the Company, other than directors or officers who are parties to the Proceeding. If it is so determined
that Indemnitee is entitled to indemnification, the Company shall make payment to Indemnitee within ten days after such determination.
Indemnitee shall cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement
to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or
information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and
reasonably necessary or appropriate to such determination in the discretion of the Board of Directors or Independent Counsel if
retained pursuant to clause (ii)(B) of this Section 10(b). Any Expenses incurred by Indemnitee in so cooperating with the person,
persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s
entitlement to indemnification) and the Company shall indemnify and hold Indemnitee harmless therefrom.

 

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(c)               
The Company shall pay the reasonable fees and expenses of Independent Counsel, if one is appointed.

 

Section 11.           
Presumptions and Effect of Certain Proceedings.

 

(a)               
In making any determination with respect to entitlement to indemnification hereunder, the person or persons or entity making
such determination shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted
a request for indemnification in accordance with Section 10(a) of this Agreement, and the Company shall have the burden of
overcoming that presumption in connection with the making of any determination contrary to that presumption.

 

(b)              
The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction,
upon a plea of nolo contendere or its equivalent, or entry of an order of probation prior to judgment, does not create a presumption
that Indemnitee did not meet the requisite standard of conduct described herein for indemnification.

 

(c)               
The knowledge and/or actions, or failure to act, of any other director, officer, employee or agent of the Company or any
other director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic
corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise shall not
be imputed to Indemnitee for purposes of determining any other right to indemnification under this Agreement.

 

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Section 12.           
Remedies of Indemnitee.

 

(a)               
If (i) a determination is made pursuant to Section 10(b) of this Agreement that Indemnitee is not entitled to indemnification
under this Agreement, (ii) advance of Expenses is not timely made pursuant to Sections 8 or 9 of this Agreement, (iii) no
determination of entitlement to indemnification shall have been made pursuant to Section 10(b) of this Agreement within 60 days
after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Sections
7 or 9 of this Agreement within ten days after receipt by the Company of a written request therefor, or (v) payment of indemnification
pursuant to any other section of this Agreement or the charter or Bylaws of the Company is not made within ten days after a determination
has been made that Indemnitee is entitled to indemnification, Indemnitee shall be entitled to an adjudication in an appropriate
court located in the State of Maryland, or in any other court of competent jurisdiction, or in an arbitration conducted by a single
arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association, of Indemnitee’s entitlement
to indemnification or advance of Expenses. Indemnitee shall commence a proceeding seeking an adjudication or an award in arbitration
within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 12(a);
provided, however, that the foregoing clause shall not apply to a proceeding brought by Indemnitee to enforce Indemnitee’s
rights under Section 7 of this Agreement. Except as set forth herein, the provisions of Maryland law (without regard to its conflicts
of laws rules) shall apply to any such arbitration. The Company shall not oppose Indemnitee’s right to seek any such adjudication
or award in arbitration.

 

(b)              
In any judicial proceeding or arbitration commenced pursuant to this Section 12, Indemnitee shall be presumed to be
entitled to indemnification or advance of Expenses, as the case may be, under this Agreement and the Company shall have the burden
of proving that Indemnitee is not entitled to indemnification or advance of Expenses, as the case may be. If Indemnitee commences
a judicial proceeding or arbitration pursuant to this Section 12, Indemnitee shall not be required to reimburse the Company
for any advances pursuant to Section 8 of this Agreement until a final determination is made with respect to Indemnitee’s
entitlement to indemnification (as to which all rights of appeal have been exhausted or lapsed). The Company shall, to the fullest
extent not prohibited by law, be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this
Section 12 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate
in any such court or before any such arbitrator that the Company is bound by all of the provisions of this Agreement.

 

(c)               
If a determination shall have been made pursuant to Section 10(b) of this Agreement that Indemnitee is entitled to
indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant
to this Section 12, absent a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make
Indemnitee’s statement not materially misleading, in connection with the request for indemnification that was not disclosed
in connection with the determination.

 

(d)              
In the event that Indemnitee is successful in seeking, pursuant to this Section 12, a judicial adjudication of or an award
in arbitration to enforce Indemnitee’s rights under, or to recover damages for breach of, this Agreement, Indemnitee shall
be entitled to recover from the Company, and shall be indemnified by the Company for, any and all Expenses actually and reasonably
incurred by Indemnitee in such judicial adjudication or arbitration. If it shall be determined in such judicial adjudication or
arbitration that Indemnitee is entitled to receive part but not all of the indemnification or advance of Expenses sought, the Expenses
incurred by Indemnitee in connection with such judicial adjudication or arbitration shall be appropriately prorated.

 

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(e)               
Interest shall be paid by the Company to Indemnitee at the maximum rate allowed to be charged for judgments under the Courts
and Judicial Proceedings Article of the Annotated Code of Maryland for amounts which the Company pays or is obligated to pay for
the period (i) commencing with either the tenth day after the date on which the Company was requested to advance Expenses in accordance
with Sections 8 or 9 of this Agreement or the 60th day after the date on which the Company was requested to make the determination
of entitlement to indemnification under Section 10(b) of this Agreement, as applicable, and (ii) ending on the date such payment
is made to Indemnitee by the Company.

 

Section 13.           
Defense of the Underlying Proceeding.

 

(a)               
Indemnitee shall notify the Company promptly in writing upon being served with any summons, citation, subpoena, complaint,
indictment, request or other document relating to any Proceeding which may result in the right to indemnification or the advance
of Expenses hereunder and shall include with such notice a description of the nature of the Proceeding and a summary of the facts
underlying the Proceeding. The failure to give any such notice shall not disqualify Indemnitee from the right, or otherwise affect
in any manner any right of Indemnitee, to indemnification or the advance of Expenses under this Agreement unless the Company’s
ability to defend in such Proceeding or to obtain proceeds under any insurance policy is materially and adversely prejudiced thereby,
and then only to the extent the Company is thereby actually so prejudiced.

 

(b)              
Subject to the provisions of the last sentence of this Section 13(b) and of Section 13(c) below, the Company shall
have the right to defend Indemnitee in any Proceeding which may give rise to indemnification hereunder; provided, however, that
the Company shall notify Indemnitee of any such decision to defend within 15 calendar days following receipt of notice of any such
Proceeding under Section 13(a) above. The Company shall not, without the prior written consent of Indemnitee, which shall
not be unreasonably withheld or delayed, consent to the entry of any judgment against Indemnitee or enter into any settlement or
compromise which (i) includes an admission of fault of Indemnitee, (ii) does not include, as an unconditional term thereof,
the full release of Indemnitee from all liability in respect of such Proceeding, which release shall be in form and substance reasonably
satisfactory to Indemnitee, or (iii) would impose any Expense, judgment, fine, penalty or limitation on Indemnitee. This Section 13(b)
shall not apply to a Proceeding brought by Indemnitee under Section 12 of this Agreement.

 

(c)               
Notwithstanding the provisions of Section 13(b) above, if in a Proceeding to which Indemnitee is a party by reason of Indemnitee’s
Corporate Status, (i) Indemnitee reasonably concludes, based upon an opinion of counsel approved by the Company, which approval
shall not be unreasonably withheld or delayed, that Indemnitee may have separate defenses or counterclaims to assert with respect
to any issue which may not be consistent with other defendants in such Proceeding, (ii) Indemnitee reasonably concludes, based
upon an opinion of counsel approved by the Company, which approval shall not be unreasonably withheld or delayed, that an actual
or apparent conflict of interest or potential conflict of interest exists between Indemnitee and the Company, or (iii) if
the Company fails to assume the defense of such Proceeding in a timely manner, Indemnitee shall be entitled to be represented by
separate legal counsel of Indemnitee’s choice, subject to the prior approval of the Company, which approval shall not be
unreasonably withheld or delayed, at the expense of the Company. In addition, if the Company fails to comply with any of its obligations
under this Agreement or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable,
or institutes any Proceeding to deny or to recover from Indemnitee the benefits intended to be provided to Indemnitee hereunder,
Indemnitee shall have the right to retain counsel of Indemnitee’s choice, subject to the prior approval of the Company, which
approval shall not be unreasonably withheld or delayed, at the expense of the Company (subject to Section 12(d) of this Agreement),
to represent Indemnitee in connection with any such matter.

 

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Section 14.           
Non-Exclusivity; Survival of Rights; Subrogation.

 

(a)               
The rights of indemnification and advance of Expenses as provided by this Agreement shall not be deemed exclusive of any
other rights to which Indemnitee may at any time be entitled under applicable law, the charter or Bylaws of the Company, any agreement
or a resolution of the stockholders entitled to vote generally in the election of directors or of the Board of Directors, or otherwise.
Unless consented to in writing by Indemnitee, no amendment, alteration or repeal of the charter or Bylaws of the Company, this
Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action
taken or omitted by such Indemnitee in Indemnitee’s Corporate Status prior to such amendment, alteration or repeal, regardless
of whether a claim with respect to such action or inaction is raised prior or subsequent to such amendment, alteration or repeal.
No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right or remedy shall
be cumulative and in addition to every other right or remedy given hereunder or now or hereafter existing at law or in equity or
otherwise. The assertion of any right or remedy hereunder, or otherwise, shall not prohibit the concurrent assertion or employment
of any other right or remedy.

 

(b)              
In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of
the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights,
including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

Section 15.           
Insurance.

 

(a)               
The Company will use its reasonable best efforts to acquire directors and officers liability insurance, on terms and conditions
deemed appropriate by the Board of Directors, with the advice of counsel, covering Indemnitee or any claim made against Indemnitee
by reason of Indemnitee’s Corporate Status and covering the Company for any indemnification or advance of Expenses made by
the Company to Indemnitee for any claims made against Indemnitee by reason of Indemnitee’s Corporate Status. In the event
of a Change in Control, the Company shall maintain in force any and all directors and officers liability insurance policies that
were maintained by the Company immediately prior to the Change in Control for a period of six years with the insurance carrier
or carriers and through the insurance broker in place at the time of the Change in Control; provided, however, (i) if the carriers
will not offer the same policy and an expiring policy needs to be replaced, a policy substantially comparable in scope and amount
shall be obtained and (ii) if any replacement insurance carrier is necessary to obtain a policy substantially comparable in scope
and amount, such insurance carrier shall have an AM Best rating that is the same or better than the AM Best rating of the existing
insurance carrier; provided, further, however, in no event shall the Company be required to expend in the aggregate in excess of
250% of the annual premium or premiums paid by the Company for directors and officers liability insurance in effect on the date
of the Change in Control. In the event that 250% of the annual premium paid by the Company for such existing directors and officers
liability insurance is insufficient for such coverage, the Company shall spend up to that amount to purchase such lesser coverage
as may be obtained with such amount.

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(b)              
Without in any way limiting any other obligation under this Agreement, the Company shall indemnify Indemnitee for any payment
by Indemnitee which would otherwise be indemnifiable hereunder arising out of the amount of any deductible or retention and the
amount of any excess of the aggregate of all judgments, penalties, fines, settlements and Expenses incurred by Indemnitee in connection
with a Proceeding over the coverage of any insurance referred to in Section 15(a). The purchase, establishment and maintenance
of any such insurance shall not in any way limit or affect the rights or obligations of the Company or Indemnitee under this Agreement
except as expressly provided herein, and the execution and delivery of this Agreement by the Company and the Indemnitee shall not
in any way limit or affect the rights or obligations of the Company under any such insurance policies. If, at the time the Company
receives notice from any source of a Proceeding to which Indemnitee is a party or a participant (as a witness or otherwise) the
Company has director and officer liability insurance in effect, the Company shall give prompt notice of such Proceeding to the
insurers in accordance with the procedures set forth in the respective policies.

 

(c)               
The Indemnitee shall cooperate with the Company or any insurance carrier of the Company with respect to any Proceeding.

 

Section 16.           
Coordination of Payments. The Company shall not be liable under this Agreement to make any payment of amounts otherwise
indemnifiable or payable or reimbursable as Expenses hereunder if and to the extent that Indemnitee has otherwise actually received
such payment under any insurance policy, contract, agreement or otherwise.

 

Section 17.           
Contribution. If the indemnification provided in this Agreement is unavailable in whole or in part and may not be
paid to Indemnitee for any reason, other than for failure to satisfy the standard of conduct set forth in Section 4 or due to the
provisions of Section 5, then, in respect to any Proceeding in which the Company is jointly liable with Indemnitee (or would be
joined in such Proceeding), to the fullest extent permissible under applicable law, the Company, in lieu of indemnifying and holding
harmless Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether for Expenses, judgments,
penalties, fines and/or amounts paid or to be paid in settlement, in connection with any Proceeding without requiring Indemnitee
to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have at any time
against Indemnitee.

 

    	-10-

    	 

    

 

Section 18.           
Reports to Stockholders. To the extent required by the MGCL, the Company shall report in writing to its stockholders
the payment of any amounts for indemnification of, or advance of Expenses to, Indemnitee under this Agreement arising out of a
Proceeding by or in the right of the Company with the notice of the meeting of stockholders of the Company next following the date
of the payment of any such indemnification or advance of Expenses or prior to such meeting.

 

Section 19.           
Duration of Agreement; Binding Effect.

 

(a)               
This Agreement shall continue until and terminate on the later of (i) the date that Indemnitee shall have ceased to serve
as a director, officer, employee or agent of the Company or as a director, trustee, officer, partner, manager, managing
member, fiduciary, employee or agent of any other foreign or domestic corporation, real estate investment trust, partnership,
limited liability company, joint venture, trust, employee benefit plan or other enterprise that such person is or was serving in
such capacity at the request of the Company and (ii) the date that Indemnitee is no longer subject to any actual or possible Proceeding
(including any rights of appeal thereto and any Proceeding commenced by Indemnitee pursuant to Section 12 of this Agreement).

 

(b)              
The indemnification and advance of Expenses provided by, or granted pursuant to, this Agreement shall be binding upon and
be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor by
purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), shall continue
as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or a director, trustee, officer,
partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation, partnership, limited
liability company, joint venture, trust, employee benefit plan or other enterprise that such person is or was serving in such capacity
at the request of the Company, and shall inure to the benefit of Indemnitee and Indemnitee’s spouse, assigns, heirs, devisees,
executors and administrators and other legal representatives.

 

(c)               
The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise)
to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and
substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform if no such succession had taken place.

 

(d)              
The Company and Indemnitee agree that a monetary remedy for breach of this Agreement, at some later date, may be inadequate,
impracticable and difficult to prove, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the
parties hereto agree that Indemnitee may enforce this Agreement by seeking injunctive relief and/or specific performance hereof,
without any necessity of showing actual damage or irreparable harm and that by seeking injunctive relief and/or specific performance,
Indemnitee shall not be precluded from seeking or obtaining any other relief to which Indemnitee may be entitled. Indemnitee shall
further be entitled to such specific performance and injunctive relief, including temporary restraining orders, preliminary injunctions
and permanent injunctions, without the necessity of posting bonds or other undertakings in connection therewith. The Company acknowledges
that, in the absence of a waiver, a bond or undertaking may be required of Indemnitee by a court, and the Company hereby waives
any such requirement of such a bond or undertaking.

 

    	-11-

    	 

    

 

Section 20.           
Severability. If any provision or provisions of this Agreement shall be held to be invalid, void, illegal or otherwise
unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this
Agreement (including, without limitation, each portion of any Section, paragraph or sentence of this Agreement containing any such
provision held to be invalid, illegal or unenforceable that is not itself invalid, illegal or unenforceable) shall not in any way
be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (b) such provision or
provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the
intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without
limitation, each portion of any Section, paragraph or sentence of this Agreement containing any such provision held to be invalid,
illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the
intent manifested thereby.

 

Section 21.           
Counterparts. This Agreement may be executed in one or more counterparts, (delivery of which may be by facsimile,
or via e-mail as a portable document format (.pdf) or other electronic format), each of which will be deemed to be an original
and it will not be necessary in making proof of this Agreement or the terms of this Agreement to produce or account for more than
one such counterpart. One such counterpart signed by the party against whom enforceability is sought shall be sufficient to evidence
the existence of this Agreement.

 

Section 22.           
Headings. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed
to constitute part of this Agreement or to affect the construction thereof.

 

Section 23.           
Modification and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed
in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute
a waiver of any other provisions hereof (whether or not similar) nor, unless otherwise expressly stated, shall such waiver constitute
a continuing waiver.

 

Section 24.           
Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed
to have been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication
shall have been directed, on the day of such delivery, or (ii) mailed by certified or registered mail with postage prepaid,
on the third business day after the date on which it is so mailed:

 

(a)               
If to Indemnitee, to the address set forth on the signature page hereto.

 

    	-12-

    	 

    

 

(b)           If to the Company, to:

 

Reven Housing REIT, Inc.

7911 Herschel Avenue, Suite 201

La Jolla, California 92037

Attn: Chief Executive Officer

 

or to such other address as may have been furnished in writing
to Indemnitee by the Company or to the Company by Indemnitee, as the case may be.

 

Section 25.           
Governing Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the
State of Maryland, without regard to its conflicts of laws rules.

 

Section 26.           
Termination of Prior Agreement. This Agreement supersedes the Indemnification Agreement, dated as of December 9,
2013 (the “Prior Agreement”), between the parties hereto. Such Prior Agreement is hereby terminated and shall be of
no further force or effect.

 

 

 

[SIGNATURE PAGE FOLLOWS]

 

    	-13-

    	 

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the day and year first above written.

 

	 	COMPANY:

 

Reven
Housing REIT, Inc.

 

 

 

By:
________________________________

Name:

Title:

 

 

INDEMNITEE:

 

 

____________________________________

Name:

Address:

 

 

    	-14-

    	 

    

 

EXHIBIT A

 

AFFIRMATION
AND UNDERTAKING TO REPAY EXPENSES ADVANCED

 

To: The Board of Directors of Reven Housing REIT, Inc.

 

Re: Affirmation and Undertaking

 

Ladies and Gentlemen:

 

This Affirmation and Undertaking is being
provided pursuant to that certain Indemnification Agreement dated the _____ day of ______________, 20____, by and between Reven
Housing REIT, Inc., a Maryland corporation (the “Company”), and the undersigned Indemnitee (the “Indemnification
Agreement”), pursuant to which I am entitled to advance of Expenses in connection with [Description of Proceeding]
(the “Proceeding”).

 

Terms used herein and not otherwise defined
shall have the meanings specified in the Indemnification Agreement.

 

I am subject to the Proceeding by reason
of my Corporate Status or by reason of alleged actions or omissions by me in such capacity. I hereby affirm my good faith belief
that at all times, insofar as I was involved as [a director] [and] [an officer] of the Company, in any of
the facts or events giving rise to the Proceeding, I (1) did not act with bad faith or active or deliberate dishonesty, (2) did
not receive any improper personal benefit in money, property or services and (3) in the case of any criminal proceeding, had
no reasonable cause to believe that any act or omission by me was unlawful.

 

In consideration of the advance by the Company
for Expenses incurred by me in connection with the Proceeding (the “Advanced Expenses”), I hereby agree that if, in
connection with the Proceeding, it is established that (1) an act or omission by me was material to the matter giving rise
to the Proceeding and (a) was committed in bad faith or (b) was the result of active and deliberate dishonesty or (2) I
actually received an improper personal benefit in money, property or services or (3) in the case of any criminal proceeding,
I had reasonable cause to believe that the act or omission was unlawful, then I shall promptly reimburse the portion of the Advanced
Expenses relating to the claims, issues or matters in the Proceeding as to which the foregoing findings have been established.

 

IN WITNESS WHEREOF, I have executed this
Affirmation and Undertaking on this ___ day of ____________________, 20____.

 

 

	 	Name:
_____________________________WASTE CONNECTIONS, INC.

2014 INCENTIVE AWARD PLAN

 

1.          PURPOSE.

 

The purpose of the
Plan is to provide a means for the Company and any Subsidiary, through the grant of Nonqualified Stock Options, Warrants, Restricted
Stock, Restricted Stock Unit awards, Performance Awards, Dividend Equivalent awards and Stock Payment awards to selected Employees
(including officers), Directors and Consultants, to attract and retain persons of ability as Employees, Directors and Consultants,
and to motivate such persons to exert their best efforts on behalf of the Company and any Subsidiary.

 

2.          DEFINITIONS.

 

(a)           “Administrator”
means the entity that conducts the general administration of the Plan as provided in Section 4. With reference to the duties of
the Committee under the Plan which have been delegated to one or more persons pursuant to Section 4(f), or as to which the Board
has assumed, the term “Administrator” shall refer to such person(s) unless the Committee or the Board has revoked such
delegation or the Board has terminated the assumption of such duties.

 

(b)          “Applicable
Accounting Standards” shall mean Generally Accepted Accounting Principles in the United States, International Financial
Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under
United States federal securities laws from time to time.

 

(c)           “Applicable
Law” means any applicable law, including without limitation: (i) provisions of the Code, the Securities Act, the Exchange
Act and any rules or regulations thereunder; (ii) corporate, securities, tax or other laws, statutes, rules, requirements or regulations,
whether federal, state, local or foreign; and (iii) rules of any securities exchange or automated quotation system on which the
Shares are listed, quoted or traded.

 

(d)          “Award”
means an Option, a Warrant, a Restricted Stock award, a Restricted Stock Unit award, a Performance Award, a Dividend Equivalents
award or a Stock Payment award, which may be awarded or granted under the Plan (collectively, “Awards”).

 

(e)           “Award
Agreement” means any written notice, agreement, terms and conditions, contract or other instrument or document evidencing
an Award, including through electronic medium, which shall contain such terms and conditions with respect to an Award as the Administrator
shall determine consistent with the Plan.

 

(f)           “Award Limit” means with respect to Awards that shall be payable in Shares or in cash,
as the case may be, the respective limit set forth in Section 3(b).

 

(g)          “Board”
means the Company’s Board of Directors.

 

(h)          “Change
in Control” means:

 

(i)          any
reorganization, liquidation or consolidation of the Company, or any merger or other business combination of the Company with any
other corporation, other than any such merger or other combination that would result in the voting securities of the Company outstanding
immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities
of the surviving entity) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company
or such surviving entity outstanding immediately after such transaction;

 

    	1

    	 

    

  

(ii)         any
sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all, or substantially all,
of the assets of the Company;

 

(iii)        a
transaction or series of related transactions in which any “person” (as defined in Section 13(d) and 14(d) of the Exchange
Act) becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of fifty
percent (50%) or more of the Company’s outstanding voting securities (except that for purposes of this definition, “person”
shall not include any person (or any person that controls, is controlled by or is under common control with such person) who as
of the date of an Award Agreement owns ten percent (10%) or more of the total voting power represented by the outstanding voting
securities of the Company, or a trustee or other fiduciary holding securities under any employee benefit plan of the Company, or
a corporation that is owned directly or indirectly by the stockholders of the Company in substantially the same percentage as their
ownership of the Company); or

 

(iv)        during
any period of two consecutive years, individuals who at the beginning of such period constituted the entire Board shall cease for
any reason to constitute at least one-half of the membership thereof unless the election, or the nomination for election by the
Company’s stockholders, of each new director was approved by a vote of at least one-half of the directors then still in office
who were directors at the beginning of the period.

 

A transaction shall
not constitute a Change in Control 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 held the Company’s securities
immediately before such transaction. Notwithstanding the foregoing, if a Change in Control constitutes a payment event with respect
to any portion of an Award that provides for the deferral of compensation and is subject to Section 409A of the Code, the transaction
or event described in subsection (i), (ii), (iii) or (iv) with respect to such Award (or portion thereof) must also constitute
a “change in control event,” as defined in Treasury Regulation Section 1.409A-3(i)(5) to the extent required by Section
409A. The Committee shall have full and final authority, which shall be exercised in its sole discretion, to determine conclusively
whether a Change in Control of the Company has occurred pursuant to the above definition, and the date of the occurrence of such
Change in Control and any incidental matters relating thereto; provided that any exercise of authority in conjunction with a determination
of whether a Change in Control is a “change in control event” as defined in Treasury Regulation Section 1.409A-3(i)(5)
shall be consistent with such regulation.

 

(i)
           “Code” means the Internal Revenue Code of
1986, as amended from time to time, together with the regulations and official guidance promulgated thereunder.

 

(j) 
          “Committee” means the Compensation Committee of
the Board, or another committee or subcommittee of the Board or the Compensation Committee, appointed as provided
in Section 4(a).

 

(k)  
        “Company” means Waste Connections, Inc., a Delaware
corporation.

 

    	2

    	 

    

  

(l)      
    “Consultant” means any person, including an advisor, engaged by the Company or a
Subsidiary to render consulting services and who is compensated for such services; provided, that such person qualifies as a
consultant under the applicable rules of the Securities and Exchange Commission for registration of shares on a Form S-8
Registration Statement; and, provided, further, that the term “Consultant” shall not include Directors.

 

(m)          “Continuous
Status as an Employee, Director or Consultant” means the individual’s employment as an Employee or relationship
as a Consultant is not interrupted or terminated, or, in the case of a Director who is not an Employee, the term means the Director
remains a Director of the Company. The Board, in its sole discretion, may determine whether Continuous Status as an Employee, Director
or Consultant shall be considered interrupted in the case of (i) any leave of absence approved by the Board, including sick
leave, military leave or any other personal leave, or (ii) transfers between locations of the Company or between the Company
and a Subsidiary or their successors.

 

(n)          “Covered
Employee” means any Employee who is, or could be, a “covered employee” within the meaning of Section 162(m)
of the Code. 

 

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

 

(p)          “Disability”
means permanent and total disability within the meaning of Section 422(c)(6) of the Code.

 

(q)          “Dividend
Equivalent” means a right to receive the equivalent value (in cash or Shares) of dividends paid on Shares, awarded under
Section 11(b).

 

(r)        
  “DRO” means a domestic relations order as defined by the Code or Title I of the Employee
Retirement Income Security Act of 1974, as amended from time to time, or the rules thereunder.

 

(s)      
    “Effective Date” means the date the Plan is approved by the Board, subject to the
approval of the Plan by the Company’s stockholders.

 

(t)     
     “Eligible Individual” means any person who is an Employee, a Consultant or a
Non-Employee Director, as determined by the Committee.

 

(u)          “Employee”
means any person employed by the Company or any Subsidiary of the Company. Any officer of the Company or a Subsidiary is an Employee.
A Director is not an Employee unless he or she has an employment relationship with the Company or a Subsidiary in addition to being
a Director. Service as a Consultant shall not be sufficient to constitute “employment” by the Company.

 

(i)       
   “Equity Restructuring” means a nonreciprocal transaction between the Company and its
stockholders, such as a stock dividend, stock split, spin-off, rights offering or recapitalization through a large,
nonrecurring cash dividend, that affects the number or kind of Shares (or other securities of the Company) or the share price
of Stock (or other securities) and causes a change in the per-share value of the Stock underlying outstanding Awards.

 

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

 

    	3

    	 

    

  

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

 

(i)          If
the Stock is listed on any established stock exchange or a national market system, including without limitation the New York Stock
Exchange, its Fair Market Value shall be the closing sales price for the Stock (or the closing bid, if no sales were reported)
as quoted on such exchange or system on the market trading day of the date of determination, or, if the date of determination is
not a market trading day, the last market trading day prior to the date of determination, in each case as reported in The Wall
Street Journal or such other sources as the Board deems reliable;

 

(ii)         If
the Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, its Fair Market Value shall
be the mean between the high bid and low asked prices for the Stock on the market trading day of the date of determination, or,
if the date of determination is not a market trading day, the last market trading day prior to the date of determination; or

 

(iii)        In
absence of an established market for the Stock, the Fair Market Value thereof shall be determined in good faith by the Board.

 

(x)          “Non-Employee
Director” means a Director of the Company who is not an Employee.

 

(y)          “Nonqualified
Stock Options” means Options that are not intended to qualify as incentive stock options within the meaning of Section
422 of the Code.

 

(z)          “Option
Agreement” means a written certificate or 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 that apply to Options.

 

(aa)         “Optionee”
means an Employee, Director or Consultant who holds an outstanding Option.

 

(bb)         “Options”
means Nonqualified Stock Options.

 

(cc)         “Participant”
means a person who has been granted an Award.

 

(dd)         “Performance
Award” means a cash bonus award, stock bonus award, performance award or incentive award that is paid in cash, Shares
or a combination of both, awarded under Section 11(a).

 

(ee)         “Performance-Based
Compensation” shall mean any compensation that is intended to qualify as “performance-based compensation”
as described in Section 162(m)(4)(C) of the Code. 

 

(ff)         “Performance
Criteria” means the criteria (and adjustments) that the Committee selects for an Award for purposes of establishing the
Performance Goal or Performance Goals for a Performance Period, determined as follows:

 

    	4

    	 

    

  

(i)          The
Performance Criteria that shall be used to establish Performance Goals are limited to the following: (i) net earnings (either before
or after one or more of the following: (A) interest, (B) taxes, (C) depreciation and (D) amortization), expressed in dollars or
as a percent of revenues; (ii) gross or net sales or revenue; (iii) net income (either before or after taxes); (iv) adjusted net
income; (v) operating earnings or profit; (vi) cash flow (including, but not limited to, cash flow from operating activities and
free cash flow); (vii) return on assets; (viii) return on invested capital; (ix) return on stockholders’ equity; (x) total
stockholder return; (xi) return on sales; (xii) gross or net profit margin or operating margin; (xiii) costs; (xiv) expenses; (xv)
working capital; (xvi) earnings per share; (xvii) adjusted earnings per share; (xviii) price per share; (xix) regulatory body approval
for commercialization of a product; (xx) implementation or completion of critical projects; (xxi) market share; (xxii) economic
value; (xxiii) gross profit; (xxiv) net cash provided by operating activities as a percentage of revenue; (xxv) customer satisfaction;
(xxvi) safety performance; (xxvii) compound annual growth rate or (xxviii) total debt, interest expense, or total capital, any
of which may be utilized in combination or measured either in absolute terms or as compared to any incremental increase or decrease
or as compared to results of a peer group or to market performance indicators or indices or to historic results.

 

(ii) The
Administrator, in its sole discretion, may provide that one or more objectively determinable adjustments shall be made to one or
more of the Performance Goals. Such adjustments may include one or more of the following: (i) items related to a change in
accounting principle; (ii) items relating to financing activities; (iii) expenses for restructuring or productivity initiatives;
(iv) other non-operating items; (v) items related to acquisitions; (vi) items attributable to the business operations of any
entity acquired by the Company during the Performance Period; (vii) items related to the disposal of a business or segment of a
business; (viii) items related to discontinued operations that do not qualify as a segment of a business under Applicable Accounting
Standards; (ix) items attributable to any stock dividend, stock split, combination or exchange of stock occurring during the Performance
Period; (x) any other items of significant income or expense which are determined to be appropriate adjustments; (xi) items
relating to unusual or extraordinary corporate transactions, events or developments, (xii) items related to amortization of acquired
intangible assets; (xiii) items that are outside the scope of the Company’s core, on-going business activities; (xiv)
items related to acquired in-process research and development; (xv) items relating to changes in tax laws; (xvi) items relating
to major licensing or partnership arrangements; (xvii) items relating to asset impairment charges; (xviii) items relating to gains
or losses for litigation, arbitration and contractual settlements; (xix) items related to commodities prices and fuel costs; (xx)
items related to organized labor efforts; (xxi) items related to relocation of corporate offices or (xxii) items relating to any
other unusual or nonrecurring events or changes in Applicable Law, accounting principles or business conditions. For all Awards
intended to qualify as Performance-Based Compensation, such determinations shall be made within the time prescribed by, and otherwise
in compliance with, Section 162(m) of the Code. 

 

(gg)         “Performance
Goals” means, for a Performance Period, one or more goals established in writing by the Administrator for the Performance
Period based upon one or more 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, business
unit, or an individual. The achievement of each Performance Goal shall be determined, to the extent applicable, with reference
to Applicable Accounting Standards. 

 

    	5

    	 

    

  

(hh)        “Performance
Period” means 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, an Award. 

 

(ii)     
    “Performance Stock Unit” means a Performance Award awarded under Section 11(a)
which is denominated in units of value including dollar value of Shares. 

 

(jj)       
  “Permitted Transferee” means, with respect to a Participant, any “family member”
of the Participant, as defined in the instructions to Form S-8 under the Securities Act, after taking into account Applicable
Law.

 

(kk)         “Plan”
means this 2014 Incentive Award Plan, as it may be amended and restated from time to time.

 

(ll)       
  “Program” means any program adopted by the Administrator pursuant to the Plan containing the
terms and conditions intended to govern a specified type of Award granted under the Plan and pursuant to which such type of
Award may be granted under the Plan. 

 

(mm)       “Restricted
Stock” means Stock awarded under the Plan in accordance with the terms and conditions set forth in Section 7.

 

(nn)        “Restricted
Stock Agreement” means a written certificate or Award Agreement between the Company and a Restricted Stock Participant
evidencing a Restricted Stock Award. Each Restricted Stock Agreement shall be subject to the terms and conditions of the Plan that
apply to Restricted Stock.

 

(oo)         “Restricted
Stock Award” means shares of Restricted Stock awarded pursuant to the terms and conditions of the Plan.

 

(pp)         “Restricted
Stock Unit” means a contractual right to receive Stock under the Plan upon the attainment of designated performance milestones
or the completion of a specified period of employment or service with the Company or any Subsidiary or upon a specified date or
dates following the attainment of such milestones or the completion of such service period.

 

(qq)         “Restricted
Stock Unit Agreement” means a written agreement between the Company and a Restricted Stock Unit Participant evidencing
a Restricted Stock Unit Award. Each Restricted Stock Unit Agreement shall be subject to the terms and conditions of the Plan that
apply to Restricted Stock Units.

 

(rr)      
   “Restricted Stock Unit Award” means an award of Restricted Stock Units made pursuant to
the terms and conditions of the Plan.

 

(ss)         “Restriction
Period” means a time period, which may or may not be based on Performance Goals and/or the satisfaction of vesting provisions
(which may depend on the Continuous Status as an Employee, Director or Consultant of the applicable Restricted Stock Participant),
that applies to, and is established or specified by the Administrator at the time of, each Restricted Stock Award.

 

    	6

    	 

    

  

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

 

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

 

(vv)         “Shares”
means shares of Stock.

 

(ww)       “Stock”
means the Common Stock of the Company.

 

(xx)    
     “Stock Payment” means (a) a payment in the form of Shares, or (b) an option or
other right to purchase Shares, as part of a bonus, deferred compensation or other arrangement, awarded under Section 11. 

 

(yy)         “Substitute
Award” means an Award granted under the Plan upon the assumption of, or in substitution for, outstanding equity awards
previously granted by a company or other entity in connection with a corporate transaction, such as a merger, combination, consolidation
or acquisition of property or stock; provided, however, that in no event shall the term “Substitute Award” be construed
to refer to an award made in connection with the cancellation and repricing of an Option or Warrant.

 

(zz)     
    “Subsidiary” means any corporation that at the time an Award is granted under the
Plan qualifies as a subsidiary of the Company under the definition of “subsidiary corporation” contained in
Section 424(f) of the Code, or any similar provision hereafter enacted.

 

(aaa)       “Warrant”
means the warrants awarded under the Plan in accordance with the terms and conditions set forth in Section 6.

 

(bbb)      “Warrant
Agreement” means a written certificate or agreement between the Company and a Participant evidencing the terms and conditions
of an individual Warrant grant. Each Warrant Agreement shall be subject to the terms and conditions of the Plan that apply to Warrants.

 

3.          SHARES
SUBJECT TO THE PLAN.

 

(a)          Stock
Available for Awards.

 

(i)          Subject
to Sections 3(a)(ii) and 11(a), the aggregate number of Shares which may be issued or transferred pursuant to Awards under the
Plan is 3,250,000.

 

(ii)         Notwithstanding
anything to the contrary contained herein, the following Shares shall not be added to the Shares authorized for grant under Section
3(a)(i) and shall not be available for future grants of Awards: (A) Shares tendered by a Participant or withheld by the Company
in payment of the exercise price of an Option or purchase price of a Warrant; (B) Shares tendered by the Participant or withheld
by the Company to satisfy any tax withholding obligation with respect to an Award; and (C) Shares purchased on the open market
with the cash proceeds from the exercise of Options or Warrants. Any Shares repurchased by the Company under Section 7(b) at the
same price paid by the Participant so that such Shares are returned to the Company shall again be available for Awards. The payment
of Dividend Equivalents in cash in conjunction with any outstanding Awards shall not be counted against the Shares available for
issuance under the Plan.

 

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(iii)        Substitute
Awards shall not reduce the Shares authorized for grant under the Plan. Additionally, in the event that a company acquired by the
Company or any Subsidiary or with which the Company or any Subsidiary combines has shares available under a pre-existing plan approved
by stockholders and not adopted in contemplation of such acquisition or combination, the shares available for grant pursuant to
the terms of such pre-existing plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation
ratio or formula used in such acquisition or combination to determine the consideration payable to the holders of common stock
of the entities party to such acquisition or combination) may be used for Awards under the Plan and shall not reduce the Shares
authorized for grant under the Plan; provided that Awards using such available Shares shall not be made after the date awards or
grants could have been made under the terms of the pre-existing plan, absent the acquisition or combination, and shall only be
made to individuals who were not employed by or providing services to the Company or its Subsidiaries immediately prior to such
acquisition or combination.

 

(b)          Annual
Award Limit. Notwithstanding any provision in the Plan to the contrary, and subject to Section 12, the maximum aggregate number
of Shares with respect to one or more Awards that may be granted to any one person during any calendar year shall be 500,000, the
maximum aggregate number of Shares with respect to Options that may be granted to any one person during any calendar year shall
be 500,000, the maximum aggregate number of Shares with respect to Warrants that may be granted to any one person during any calendar
year shall be 250,000 and the maximum aggregate amount of cash that may be paid in cash to any one person during any calendar year
with respect to one or more Awards payable in cash shall be $7,500,000. Notwithstanding the foregoing and subject to Section 12,
the maximum aggregate number of Shares with respect to one or more Awards that may be granted to any Non-Employee Director during
any calendar year shall be 25,000 Shares.

 

(c)          Stock
Distributed. Any Shares distributed pursuant to an Award may consist, in whole or in part, of authorized and unissued Common
Stock, treasury Common Stock or Common Stock purchased on the open market.

 

4.          ADMINISTRATION.

 

(a)          Administrator.
The Committee (or another committee or a subcommittee of the Board assuming the functions of the Committee under the Plan) shall
administer the Plan (except as otherwise permitted herein). To the extent necessary to comply with Rule 16b-3 of the Exchange Act,
and with respect to Awards that are intended to be Performance-Based Compensation, including Options or Warrants, then the Committee
(or another committee or subcommittee of the Board assuming the functions of the Committee under the Plan) shall take all action
with respect to such Awards, and the individuals taking such action shall consist solely of two or more Non-Employee Directors
appointed by and holding office at the pleasure of the Board, each of whom is intended to qualify as both a “non-employee
director” as defined by Rule 16b-3 of the Exchange Act or any successor rule and an “outside director” for purposes
of Section 162(m) of the Code. Additionally, to the extent required by Applicable Law, each of the individuals constituting
the Committee (or another committee or subcommittee of the Board assuming the functions of the Committee under the Plan) shall
be an “independent director” under the rules of any securities exchange or automated quotation system on which the
Shares are listed, quoted or traded. Notwithstanding the foregoing, any action taken by the Committee shall be valid and effective,
whether or not members of the Committee at the time of such action are later determined not to have satisfied the requirements
for membership set forth in this Section 4(a) or otherwise provided in any charter of the Committee. Except as may otherwise be
provided in any charter of the Committee, appointment of Committee members shall be effective upon acceptance of appointment. Committee
members may resign at any time by delivering written or electronic notice to the Board. Vacancies in the Committee may only be
filled by the Board. Notwithstanding the foregoing, (a) the full Board, acting by a majority of its members in office, shall conduct
the general administration of the Plan with respect to Awards granted to Non-Employee Directors and, with respect to such Awards,
the terms “Administrator” and “Committee” as used in the Plan shall be deemed to refer to the Board and
(b) the Board or Committee may delegate its authority hereunder to the extent permitted by Section 4(f).

 

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(b)          Duties
and Powers of Committee. It shall be the duty of the Committee to conduct the general administration of the Plan in accordance
with its provisions. The Committee shall have the power to interpret the Plan, the Program and the Award Agreement, and to adopt
such rules for the administration, interpretation and application of the Plan as are not inconsistent therewith, to interpret,
amend or revoke any such rules and to amend any Program or Award Agreement; provided that the rights or obligations of the Participant
that is the subject of any such Program or Award Agreement are not affected adversely by such amendment, unless the consent of
the Participant is obtained or such amendment is otherwise permitted under Section 9(k) or Section 17(h). Any such grant or award
under the Plan need not be the same with respect to each Participant. In its sole discretion, the Board may at any time and from
time to time exercise any and all rights and duties of the Committee under the Plan except with respect to matters which under
Rule 16b-3 under the Exchange Act or any successor rule, or Section 162(m) of the Code, or any regulations or rules issued thereunder,
or the rules of any securities exchange or automated quotation system on which the Shares are listed, quoted or traded are required
to be determined in the sole discretion of the Committee.

 

(c)          Action
by the Committee. Unless otherwise established by the Board or in any charter of the Committee, a majority of the Committee
shall constitute a quorum and the acts of a majority of the members present at any meeting at which a quorum is present, and acts
approved in writing by all members of the Committee in lieu of a meeting, shall be deemed the acts of the Committee. Each member
of the Committee is entitled to, in good faith, rely or act upon any report or other information furnished to that member by any
officer or other employee of the Company or any Subsidiary, the Company’s independent certified public accountants, or any
executive compensation consultant or other professional retained by the Company to assist in the administration of the Plan.

 

(d)          Authority
of Administrator. Subject to the Company’s Bylaws, the Committee’s Charter and any specific designation in the
Plan, the Administrator has the exclusive power, authority and sole discretion to:

 

(i)          Designate
Eligible Individuals to receive Awards;

 

(ii)         Determine
the type or types of Awards to be granted to each Eligible Individual;

 

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(iii)        Determine
the number of Awards to be granted and the number of Shares to which an Award will relate;

 

(iv)        Determine
the terms and conditions of any Award granted pursuant to the Plan, including, but not limited to, the exercise price, grant price,
purchase price, any Performance Criteria, any restrictions or limitations on the Award, any schedule for vesting, lapse of forfeiture
restrictions or restrictions on the exercisability of an Award, and accelerations or waivers thereof, and any provisions related
to non-competition and recapture of gain on an Award, based in each case on such considerations as the Administrator in its sole
discretion determines;

 

(v)         Determine
whether, to what extent, and pursuant to what circumstances an Award may be settled in, or the exercise price of an Award may be
paid in cash, Shares, other Awards, or other property, or an Award may be canceled, forfeited, or surrendered;

 

(vi)        Prescribe
the form of each Award Agreement, which need not be identical for each Participant;

 

(vii)       Decide
all other matters that must be determined in connection with an Award;

 

(viii)      Establish,
adopt, or revise any rules and regulations as it may deem necessary or advisable to administer the Plan;

 

(ix)         Interpret
the terms of, and any matter arising pursuant to, the Plan, any Program or any Award Agreement;

 

(x)          Make
all other decisions and determinations that may be required pursuant to the Plan or as the Administrator deems necessary or advisable
to administer the Plan; and

 

(xi)         Accelerate
wholly or partially the vesting or lapse of restrictions of any Award or portion thereof at any time after the grant of an Award,
subject to whatever terms and conditions it selects and Section 12.

 

(e)          Decisions
Binding. The Administrator’s interpretation of the Plan, any Awards granted pursuant to the Plan, any Program, any Award
Agreement and all decisions and determinations by the Administrator with respect to the Plan are final, binding and conclusive
on all parties.

 

(f)          Delegation
of Authority. To the extent permitted by Applicable Law, the Board or Committee may from time to time delegate to a committee
of one or more members of the Board or one or more officers of the Company the authority to grant or amend Awards or to take other
administrative actions pursuant to this Section 4; provided, however, that in no event shall an officer of the Company be
delegated the authority to grant awards to, or amend awards held by, the following individuals: (a) individuals who are subject
to Section 16 of the Exchange Act, (b) Covered Employees or (c) officers of the Company (or Directors) to whom authority to grant
or amend Awards has been delegated hereunder; provided, further, that any delegation of administrative authority shall only be
permitted to the extent it is permissible under Section 162(m) of the Code and other Applicable Law. Any delegation hereunder shall
be subject to the restrictions and limits that the Board or Committee specifies at the time of such delegation, and the Board may
at any time rescind the authority so delegated or appoint a new delegatee. At all times, the delegatee appointed under this Section
4(f) shall serve in such capacity at the pleasure of the Board and the Committee.

 

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(g)          Modification
of Terms and Conditions through Employment or Consulting Agreements. Notwithstanding the provisions of any Award Agreement,
any modifications to the terms and conditions of any Award permitted by Section 4(b) with respect to any Employee or Consultant
may be effected by including the modification in an employment or consulting agreement between the Company or a Subsidiary and
the Participant.

 

5.          TERMS
AND CONDITIONS OF OPTIONS.

 

Each Option granted
shall be evidenced by an Option Agreement in substantially the form as may be approved by the Administrator. Each Option Agreement
shall include the following terms and conditions and such other terms and conditions as the Administrator may deem appropriate:

 

(a)          Option
Term. Each Option Agreement shall specify the term for which the Option thereunder is granted and shall provide that such Option
shall expire at the end of such term. The Administrator may extend such term; provided that the term of any Option, including any
such extensions, shall not exceed ten years from the date of grant.

 

(b)          Exercise
Price. Each Option Agreement shall specify the exercise price per share, as determined by the Administrator at the time the
Option is granted, which exercise price shall in no event be less than the Fair Market Value per share on the date of grant.

 

(c)          Vesting.
Each Option Agreement shall specify when it is exercisable. The total number of Shares subject to an Option may, but need not,
be allotted in periodic installments (which may, but need not, be equal). An Option Agreement may provide that from time to time
during each of such installment periods, the Option may become exercisable (“vest”) with respect to some or all
of the shares allotted to that period, and may be exercised with respect to some or all of the shares allotted to such period or
any prior period as to which the Option shall have become vested but shall not have been fully exercised. An Option may be subject
to such other terms and conditions on the time or times when it may be exercised (which may be based on performance or other criteria) as
the Administrator deems appropriate.

 

(d)          Company’s
Repurchase Right on Option Shares. Each Option Agreement may, but is not required to, include provisions whereby the Company
shall have the right to repurchase any and all shares acquired by an Optionee on exercise of any Option granted under the Plan,
at such price and on such other terms and conditions as the Administrator may approve and as may be set forth in the Option Agreement.
Such right shall be exercisable by the Company after termination of an Optionee’s Continuous Status as an Employee, Director
or Consultant, whenever such termination may occur and whether such termination is voluntary or involuntary, with cause or without
cause, without regard to the reason therefor, if any.

 

(e)          Substitute
Awards. Notwithstanding the foregoing provisions of this Section 5 to the contrary, in the case of an Option that is a Substitute
Award, the price per share of the Shares subject to such Option may be less than the Fair Market Value per share on the date of
grant; provided that the excess of: (a) the aggregate Fair Market Value (as of the date such Substitute Award is granted) of the
Shares subject to the Substitute Award, over (b) the aggregate exercise price thereof does not exceed the excess of: (x) the aggregate
fair market value (as of the time immediately preceding the transaction giving rise to the Substitute Award, such fair market value
to be determined by the Administrator) of the shares of the predecessor entity that were subject to the grant assumed or substituted
for by the Company, over (y) the aggregate exercise price of such shares.

 

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6.          terms
and conditions of warrants.

 

Each Warrant granted
shall be evidenced by a Warrant Agreement in substantially the form as may be approved by the Administrator. Each Warrant Agreement
shall include the following terms and conditions and such other terms and conditions as the Administrator may deem appropriate:

 

(a)          Warrant
Term. Each Warrant Agreement shall specify the term for which the Warrant thereunder is granted and shall provide that such
Warrant shall expire at the end of such term. The Administrator may extend such term; provided that the term of any Warrant, including
any such extensions, shall not exceed ten years from the date of grant.

 

(b)          Exercise
Price. Each Warrant Agreement shall specify the purchase price per share, as determined by the Administrator at the time the
Warrant is granted, which purchase price shall in no event be less than the Fair Market Value per share on the date of grant.

 

(c)          Vesting.
Each Warrant Agreement shall specify when it is exercisable. The total number of Shares subject to a Warrant may, but need not,
be allotted in periodic installments (which may, but need not, be equal). A Warrant Agreement may provide that from time to time
during each of such installment periods, the Warrant may become exercisable (“vest”) with respect to some or all
of the shares allotted to that period, and may be exercised with respect to some or all of the shares allotted to such period or
any prior period as to which the Warrant shall have become vested but shall not have been fully exercised. A Warrant may be subject
to such other terms and conditions on the time or times when it may be exercised (which may be based on performance or other criteria) as
the Administrator deems appropriate.

 

(d)          Company’s
Repurchase Right on Warrant Shares. Each Warrant Agreement may, but is not required to, include provisions whereby the Company
shall have the right to repurchase any and all shares acquired by a Participant on exercise of any Warrant granted under the Plan,
at such price and on such other terms and conditions as the Administrator may approve and as may be set forth in the Warrant Agreement.
Such right shall be exercisable by the Company after termination of a Participant’s Continuous Status as an Employee, Director
or Consultant, whenever such termination may occur and whether such termination is voluntary or involuntary, with cause or without
cause, without regard to the reason therefor, if any.

 

(e)          Substitute
Awards. Notwithstanding the foregoing provisions of this Section 6 to the contrary, in the case of a Warrant that is a Substitute
Award, the price per share of the Shares subject to such Warrant may be less than the Fair Market Value per share on the date of
grant; provided that the excess of: (a) the aggregate Fair Market Value (as of the date such Substitute Award is granted) of the
Shares subject to the Substitute Award, over (b) the aggregate purchase price thereof does not exceed the excess of: (x) the aggregate
fair market value (as of the time immediately preceding the transaction giving rise to the Substitute Award, such fair market value
to be determined by the Administrator) of the shares of the predecessor entity that were subject to the grant assumed or substituted
for by the Company, over (y) the aggregate purchase price of such shares.

 

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7.          terms
and conditions of restricted stock awards.

 

(a)          Restricted
Stock Award Agreement. Each Restricted Stock Award shall be evidenced by a Restricted Stock Agreement in substantially the
form as may be approved by the Administrator. Each Restricted Stock Agreement shall be executed by the Company and the Restricted
Stock Participant to whom such Restricted Stock Award has been granted, unless the Restricted Stock Agreement provides otherwise;
two or more Restricted Stock Awards granted to a single Restricted Stock Participant may, however, be combined in a single Restricted
Stock Agreement. A Restricted Stock Agreement shall not be a precondition to the granting of a Restricted Stock Award; no person
shall have any rights under any Restricted Stock Award, however, unless and until the Restricted Stock Participant to whom the
Restricted Stock Award shall have been granted (i) shall have executed and delivered to the Company a Restricted Stock Agreement
or other instrument evidencing the Restricted Stock Award, unless such Restricted Stock Agreement provides otherwise, (ii) has
satisfied the applicable federal, state, local and/or foreign income and employment withholding tax liability with respect to the
Shares which vest or become issuable under the Restricted Stock Award, and (iii) has otherwise complied with the applicable terms
and conditions of the Restricted Stock Award.

 

(b)          Restricted
Stock Awards Subject to Plan. All Restricted Stock Awards under the Plan shall be subject to all the applicable provisions
of the Plan, including the following terms and conditions, and to such other terms and conditions not inconsistent therewith, as
the Administrator shall determine and which are set forth in the applicable Restricted Stock Agreement.

 

(i)          The
Restricted Stock subject to a Restricted Stock Award shall entitle the Restricted Stock Participant to receive shares of Restricted
Stock, which vest over the Restriction Period. The Administrator shall have the discretionary authority to authorize Restricted
Stock Awards and determine the restrictions or Restriction Period for each such Award. Such restrictions may include, without limitation,
restrictions concerning voting rights and transferability and such restrictions may lapse separately or in combination at such
times and pursuant to such circumstances or based on such criteria as selected by the Administrator, including, without limitation,
criteria based on the Participant’s duration of employment, directorship or consultancy with the Company, the Performance
Criteria, Company performance, individual performance or other criteria selected by the Administrator. By action taken after the
Restricted Stock is issued, the Administrator may, on such terms and conditions as it may determine to be appropriate, accelerate
the vesting of such Restricted Stock by removing any or all of the restrictions imposed by the terms of the applicable Program
or Award Agreement. Restricted Stock may not be sold or encumbered until all restrictions are terminated or expire.

 

(ii)         Subject
to the terms and restrictions of this Section 7 or the applicable Restricted Stock Agreement or as otherwise determined by
the Administrator, upon delivery of Restricted Stock to a Restricted Stock Participant, or upon creation of a book entry evidencing
a Restricted Stock Participant’s ownership of shares of Restricted Stock, pursuant to Section 7(e), the Restricted Stock
Participant shall have all of the rights of a stockholder with respect to such shares.

 

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(c)          Cash
Payment. The Administrator shall establish the purchase price, if any, and form of payment for Restricted Stock; provided,
however, that if a purchase price is charged, such purchase price shall be no less than the par value, if any, of the Shares to
be purchased, unless otherwise permitted by Applicable Law. In all cases, legal consideration shall be required for each issuance
of Restricted Stock.

 

(d)          Forfeiture
of Restricted Stock. If, during the Restriction Period, the Restricted Stock Participant’s Continuous Status as an Employee,
Director or Consultant terminates for any reason, all of such Restricted Stock Participant’s shares of Restricted Stock as
to which the Restriction Period has not yet expired shall be forfeited and revert to the Plan, unless the Administrator has provided
otherwise in the Restricted Stock Agreement or in an employment or consulting agreement with the Restricted Stock Participant,
or the Administrator, in its discretion, otherwise determines to waive such forfeiture. If a price was paid by the Participant
for the Restricted Stock, if the Restricted Stock Participant’s Continuous Status as an Employee, Director or Consultant
terminates for any reason during the applicable restriction period, the Company shall have the right to repurchase from the Participant
the unvested Restricted Stock then subject to restrictions at a cash price per share equal to the price paid by the Participant
for such Restricted Stock or such other amount as may be specified in the applicable Program or Award Agreement. Notwithstanding
the foregoing, the Administrator, in its sole discretion, may provide that upon certain events, including a Change in Control,
the Participant’s death, retirement or disability or any other specified termination of Continuous Status as an Employee,
Director or Consultant or any other event, the Participant’s rights in unvested Restricted Stock shall not lapse, such Restricted
Stock shall vest and, if applicable, the Company shall not have a right of repurchase.

 

(e)          Receipt
of Stock Certificates. Each Restricted Stock Participant who receives a Restricted Stock Award shall be issued one or more
stock certificates in respect of such shares of Restricted Stock. Any such stock certificates for shares of Restricted Stock shall
be registered in the name of the Restricted Stock Participant but shall be appropriately legended and returned to the Company or
its agent by the recipient, together with a stock power or other appropriate instrument of transfer, endorsed in blank by the recipient.
Notwithstanding anything in the foregoing to the contrary, in lieu of the issuance of certificates for any shares of Restricted
Stock during the applicable Restriction Period, a “book entry” (i.e., a computerized or manual entry) may be made in
the records of the Company, or its designated agent, as the Administrator, in its discretion, may deem appropriate, to evidence
the ownership of such shares of Restricted Stock in the name of the applicable Restricted Stock Participant. Such records of the
Company or such agent shall, absent manifest error, be binding on all Restricted Stock Participants hereunder. The holding of shares
of Restricted Stock by the Company or its agent, or the use of book entries to evidence the ownership of shares of Restricted Stock,
in accordance with this Section 7(e), shall not affect the rights of Restricted Stock Participants as owners of their shares of
Restricted Stock, nor affect the Restriction Period applicable to such shares under the Plan or the Restricted Stock Agreement.

 

(f)          Dividends.
A Restricted Stock Participant who holds outstanding shares of Restricted Stock shall not be entitled to any dividends paid thereon,
other than dividends in the form of the Company’s stock. In addition, with respect to a share of Restricted Stock with performance-based
vesting, dividends which are paid prior to vesting shall only be paid out to the Restricted Stock Participant to the extent that
the performance-based vesting conditions are subsequently satisfied and the share of Restricted Stock vests.

 

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(g)          Expiration
of Restriction Period. Upon a Restricted Stock Participant’s shares of Restricted Stock becoming free of the foregoing
restrictions, the Company shall, subject to Sections 9(j), 9(k) and 9(m), deliver stock certificates evidencing such Stock to such
Restricted Stock Participant. Such certificates shall be freely transferable, subject to any market black-out periods which may
be imposed by the Company from time to time or insider trading policies to which the Restricted Stock Participant may at the time
be subject.

 

(h)          Section
83(b) Election. If a Participant makes an election under Section 83(b) of the Code to be taxed with respect to the Restricted
Stock as of the date of transfer of the Restricted Stock rather than as of the date or dates upon which the Participant would otherwise
be taxable under Section 83(a) of the Code, the Participant shall be required to deliver a copy of such election to the Company
promptly after filing such election with the Internal Revenue Service along with proof of the timely filing thereof with the Internal
Revenue Service.

 

(i)          Substitution
of Restricted Stock Awards. The Administrator may accept the surrender of outstanding shares of Restricted Stock (to the extent
that the Restriction Period or other restrictions applicable to such shares have not yet lapsed) and grant new Restricted Stock
Awards in substitution for such Restricted Stock.

 

8.          terms
and conditions of restricted stock UNIT awards.

 

(a)          Restricted
Stock Unit Award Agreement. Each Restricted Stock Unit Award shall be evidenced by a Restricted Stock Unit Agreement in substantially
the form or forms as may be approved by the Administrator. Each Restricted Stock Unit Agreement shall be executed by the Company
and the Restricted Stock Unit Participant to whom such Restricted Stock Unit Award has been granted, unless the Restricted Stock
Unit Agreement provides otherwise; two or more Restricted Stock Unit Awards granted to a single Restricted Stock Unit Participant
may, however, be combined in a single Restricted Stock Unit Agreement. A Restricted Stock Unit Agreement shall not be a precondition
to the granting of a Restricted Stock Unit Award; however, no person shall be entitled to receive any Shares pursuant to a Restricted
Stock Unit Award unless and until the Restricted Stock Unit Participant to whom the Restricted Stock Unit Award shall have been
granted (i) shall have executed and delivered to the Company a Restricted Stock Unit Agreement or other instrument evidencing the
Restricted Stock Unit Award, unless such Restricted Stock Unit Agreement provides otherwise, (ii) has satisfied the applicable
federal, state, local and/or foreign income and employment withholding tax liability with respect to the Shares which vest or become
issuable under the Restricted Stock Unit Award and (iii) has otherwise complied with all the other applicable terms and conditions
of the Restricted Stock Unit Award.

 

(b)          Restricted
Stock Unit Awards Subject to Plan. All Restricted Stock Unit Awards under the Plan shall be subject to all the applicable provisions
of the Plan, including the following terms and conditions, and to such other terms and conditions not inconsistent therewith, as
the Administrator shall determine and which are set forth in the applicable Restricted Stock Unit Agreement.

 

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(i)          The
Restricted Stock Units subject to a Restricted Stock Unit Award shall entitle the Restricted Stock Unit Participant to receive
the Shares underlying those Restricted Stock Units upon the attainment of designated performance goals, including but not limited
to one or more Performance Criteria, Company performance, individual performance, the satisfaction of specified employment or service
requirements, upon the expiration of a designated time period following the attainment of such goals or the satisfaction of the
applicable service period or other specific criteria, in each case on a specified date or dates or over any period or periods,
as determined by the Administrator. The Administrator may alternatively provide the Restricted Stock Unit Participant with the
right to elect the issue date or dates for the Shares which vest under his or her Restricted Stock Unit Award. The issuance of
vested shares under the Restricted Stock Unit Award may be deferred to a date following the termination of the Restricted Stock
Unit Participant’s employment or service with the Company and its Subsidiaries.

 

(ii)         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 (if permitted
by the applicable Award Agreement); provided that, except as otherwise determined by the Administrator, set forth in any applicable
Award Agreement, and subject to compliance with Section 409A of the Code, in no event shall the maturity date relating to each
Restricted Stock Unit occur following the later of (a) the 15th day of the third month following the end of calendar
year in which the applicable portion of the Restricted Stock Unit vests; or (b) the 15th day of the third month following
the end of the Company’s fiscal year in which the applicable portion of the Restricted Stock Unit vests. On the maturity
date, the Company shall, subject to Section 9(j)(v), transfer to the Participant one unrestricted, fully transferable Share for
each Restricted Stock Unit scheduled to be paid out on such date and not previously forfeited, or in the sole discretion of the
Administrator, an amount in cash equal to the Fair Market Value of such Shares on the maturity date or a combination of cash and
Common Stock as determined by the Administrator.

 

(iii)        The
Restricted Stock Unit Participant shall not have any stockholder rights with respect to the Shares subject to his or her Restricted
Stock Unit Award until that Award vests and the Shares are actually issued thereunder. However, Dividend Equivalents with respect
to a Restricted Stock Unit award may, in the sole discretion of the Administrator, be paid or credited, either in cash or in actual
or phantom Shares, on one or more outstanding Restricted Stock Units, subject to such terms and conditions as the Administrator
may deem appropriate; provided, however, that Dividend Equivalents with respect to a Restricted Stock Unit award with performance-based
vesting that are based on dividends paid prior to the vesting of such Restricted Stock Unit award shall only be paid out to the
Participant to the extent that the performance-based vesting conditions are subsequently satisfied and such Restricted Stock Unit
award vests.

 

(iv)        An
outstanding Restricted Stock Unit Award shall automatically terminate, and no Shares shall actually be issued in satisfaction of
that Award, if the performance goals or service requirements established for such Award are not attained or satisfied. The Administrator,
however, shall have the discretionary authority to issue vested Shares under one or more outstanding Restricted Stock Unit Awards
as to which the designated performance goals or service requirements have not been attained or satisfied, subject to the requirements
of Section 162(m) of the Code as to an Award that is intended to qualify as Performance-Based Compensation.

 

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(v)         Service
requirements for the vesting of Restricted Stock Unit Awards may include service as an Employee, Consultant or Non-Employee Director.

 

(c)          No
Cash Payment. Restricted Stock Unit Awards shall not require any cash payment from the Restricted Stock Unit Participant to
whom such Restricted Stock Unit Award is made, either at the time such Award is made or at the time any Shares become issuable
under that Award. However, the issuance of such shares shall be subject to the Restricted Stock Unit Participant’s satisfaction
of all applicable federal, state, local and/or foreign income and employment withholding taxes.

 

(d)          Forfeiture
of Restricted Stock Units. If the Restricted Stock Unit Participant’s Continuous Status as an Employee, Director or Consultant
terminates for any reason, all of the Restricted Stock Units subject to his or her outstanding Restricted Stock Unit Awards shall,
to the extent not vested at that time, be forfeited, and no Shares shall be issued pursuant to those forfeited Restricted Stock
Units, unless the Administrator has provided in the Restricted Stock Unit Agreement or in an employment or consulting agreement
with the Restricted Stock Unit Participant that no such forfeiture shall occur, or the Administrator, in its sole discretion, otherwise
determines to waive such forfeiture.

 

(e)          Issuance
of Stock Certificates. Each Restricted Stock Unit Participant who becomes entitled to an issuance of Shares following the vesting
of his or her Restricted Stock Unit Award shall, subject to Sections 9(j), 9(k) and 9(m), be issued one or more stock certificates
for those shares. Subject to such Sections 9(j), 9(k) and 9(m), each such stock certificate shall be registered in the name of
the Restricted Stock Unit Participant and shall be freely transferable, subject to any market black-out periods which may be imposed
by the Company from time to time or insider trading policies to which the Restricted Stock Unit Participant may at the time be
subject.

 

(f)          No
Rights as a Stockholder. Unless otherwise determined by the Administrator, a Participant of Restricted Stock Units shall possess
no incidents of ownership with respect to the Shares represented by such Restricted Stock Units, unless and until such Shares are
transferred to the Participant pursuant to the terms of this Plan and the Award Agreement.

 

9.          GRANTING
OF AWARDS AND CONDITIONS ON EXERCISE OF OPTIONS and warrants AND ISSUANCE OF SHARES.

 

(a)          Participation.
The Administrator may, from time to time, select from among all Eligible Individuals, those to whom an Award shall be granted and
shall determine the nature and amount of each Award, which shall not be inconsistent with the requirements of the Plan. Except
as provided in Section 9(f) regarding the grant of Awards pursuant to the Non-Employee Director Equity Compensation Policy, no
Eligible Individual shall have any right to be granted an Award pursuant to the Plan.

 

(b)          Award
Agreement. Each Award shall be evidenced by an Award Agreement that sets forth the terms, conditions and limitations for such
Award, which may include the term of the Award, the provisions applicable in the event of the Participant’s termination of
Continuous Status as an Employee, Director or Consultant, and the Company’s authority to unilaterally or bilaterally amend,
modify, suspend, cancel or rescind an Award. Award Agreements evidencing Awards intended to qualify as Performance-Based Compensation
shall contain such terms and conditions as may be necessary to meet the applicable provisions of Section 162(m) of the Code.

 

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(c)          Limitations
Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan, the Plan, and any Award granted or awarded
to any individual who is then subject to Section 16 of the Exchange Act, shall be subject to any additional limitations set forth
in any applicable exemptive rule under Section 16 of the Exchange Act (including Rule 16b-3 of the Exchange Act and any amendments
thereto) that are requirements for the application of such exemptive rule. To the extent permitted by Applicable Law, the Plan
and Awards granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such applicable exemptive
rule.

 

(d)          At-Will
Employment; Voluntary Participation. Neither this Plan nor any Awards shall confer on any Participant or other person: (i)
any rights or claims under the Plan except in accordance with the provisions of the Plan and the applicable Program or Award Agreement;
(ii) any right with respect to continuation of employment by the Company or any Subsidiary or engagement as a Consultant or Director,
nor shall they interfere in any way with the right of the Company or any Subsidiary that employs or engages a Participant to terminate
that person’s employment or engagement at any time with or without cause; (iii) any right to be selected to participate in
the Plan or to be granted an Award; or (iv) any right to receive any bonus, whether payable in cash or in Stock, or in any combination
thereof, from the Company or its subsidiaries, nor be construed as limiting in any way the right of the Company or its subsidiaries
to determine, in its sole discretion, whether or not it shall pay any employee or consultant bonus, and, if so paid, the amount
thereof and the manner of such payment.

 

(e)          Foreign
Holders. Notwithstanding any provision of the Plan to the contrary, in order to comply with the laws in countries other than
the United States in which the Company and its Subsidiaries operate or have Employees, Non-Employee Directors or Consultants, or
in order to comply with the requirements of any foreign securities exchange, the Administrator, in its sole discretion, shall have
the power and authority to: (a) determine which Subsidiaries shall be covered by the Plan; (b) determine which Eligible Individuals
outside the United States are eligible to participate in the Plan; (c) modify the terms and conditions of any Award granted to
Eligible Individuals outside the United States to comply with applicable foreign laws or listing requirements of any such foreign
securities exchange; (d) establish subplans and modify exercise procedures and other terms and procedures, to the extent such actions
may be necessary or advisable (any such subplans and/or modifications shall be attached to the Plan as appendices); provided, however,
that no such subplans and/or modifications shall increase the share limitations contained in Sections 3(a) and 3(b); and (e) take
any action, before or after an Award is made, that it deems advisable to obtain approval or comply with any necessary local governmental
regulatory exemptions or approvals or listing requirements of any such foreign securities exchange. Notwithstanding the foregoing,
the Administrator may not take any actions hereunder, and no Awards shall be granted, that would violate Applicable Law. For purposes
of the Plan, all references to foreign laws, rules, regulations or taxes shall be references to the laws, rules, regulations and
taxes of any applicable jurisdiction other than the United States or a political subdivision thereof.

 

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(f)          Non-Employee
Director Awards. The Administrator, in its sole discretion, may provide that Awards granted to Non-Employee Directors shall
be granted pursuant to a written nondiscretionary formula established by the Administrator (the “Non-Employee Director
Equity Compensation Policy”), subject to the limitations of the Plan. The Non-Employee Director Equity Compensation Policy
shall set forth the type of Award(s) to be granted to Non-Employee Directors, the number of Shares to be subject to Non-Employee
Director Awards, the conditions on which such Awards shall be granted, become exercisable and/or payable and expire, and such other
terms and conditions as the Administrator shall determine in its sole discretion. The Non-Employee Director Equity Compensation
Policy may be modified by the Administrator from time to time in its sole discretion.

 

(g)          Stand-Alone
and Tandem Awards. Awards granted pursuant to the Plan may, in the sole discretion of the Administrator, be granted either
alone, in addition to, or in tandem with, any other Award granted pursuant to the Plan. Awards granted in addition to or in tandem
with other Awards may be granted either at the same time as or at a different time from the grant of such other Awards.

 

(h)          Payment.
The Administrator shall determine the methods by which payments by any Participant with respect to any Awards granted under the
Plan shall be made, including, without limitation: (a) cash or check, (b) Shares (including, in the case of payment of the exercise
price of an Award, Shares issuable pursuant to the exercise of the Award) or Shares held for such period of time as may be required
by the Administrator in order to avoid adverse accounting consequences, in each case, having a Fair Market Value on the date of
delivery equal to the aggregate payments required, (c) delivery of a written or electronic notice that the Participant has placed
a market sell order with a broker acceptable to the Company with respect to Shares then issuable upon exercise or vesting of an
Award, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction
of the aggregate payments required; provided that payment of such proceeds is then made to the Company upon settlement of such
sale, or (d) other form of legal consideration acceptable to the Administrator in its sole discretion. The Administrator shall
also determine the methods by which Shares shall be delivered or deemed to be delivered to Participants. Notwithstanding any other
provision of the Plan to the contrary, no Participant who is a Director or an “executive officer” of the Company within
the meaning of Section 13(k) of the Exchange Act shall be permitted to make payment with respect to any Awards granted under the
Plan, or continue any extension of credit with respect to such payment, with a loan from the Company or a loan arranged by the
Company in violation of Section 13(k) of the Exchange Act.

 

(i)          Transferability
of Awards.

 

(i)          Except
as otherwise provided in Section 9(i)(ii) and 9(i)(iii):

 

(A)         No
Award under the Plan may be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and
distribution or, subject to the consent of the Administrator, pursuant to a DRO, unless and until such Award has been exercised,
or the Shares underlying such Award have been issued, and all restrictions applicable to such Shares have lapsed;

 

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(B)         No
Award or interest or right therein shall be liable for the debts, contracts or engagements of the Participant or the Participant’s
successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, hypothecation, encumbrance,
assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment,
garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be
null and void and of no effect, except to the extent that such disposition is permitted by Section 9(i)(i)(A); and

 

(C)         During
the lifetime of the Participant, only the Participant may exercise an Award (or any portion thereof) granted to such Participant
under the Plan, unless it has been disposed of pursuant to a DRO; after the death of the Participant, any exercisable portion of
an Award may, prior to the time when such portion becomes unexercisable under the Plan or the applicable Program or Award Agreement,
be exercised by the Participant’s personal representative or by any person empowered to do so under the deceased Participant’s
will or under the then-applicable laws of descent and distribution.

 

(ii)         Notwithstanding
Section 9(i)(i), the Administrator, in its sole discretion, may determine to permit a Participant to transfer an Award to any one
or more Permitted Transferees, subject to the following terms and conditions: (i) an Award transferred to a Permitted Transferee
shall not be assignable or transferable by the Permitted Transferee other than by will or the laws of descent and distribution
or pursuant to a DRO; (ii) an Award transferred to a Permitted Transferee shall continue to be subject to all the terms and conditions
of the Award as applicable to the original Participant (other than the ability to further transfer the Award); (iii) the Participant
and the Permitted Transferee shall execute any and all documents requested by the Administrator, including, without limitation
documents to (A) confirm the status of the transferee as a Permitted Transferee, (B) satisfy any requirements for an exemption
for the transfer under Applicable Law and (C) evidence the transfer and (iv) any transfer of an Award to a Permitted Transferee
shall be without consideration, except as required by Applicable Law.

 

(iii)        Notwithstanding
Section 9(i)(i), a Participant may, in the manner determined by the Administrator, designate a beneficiary to exercise the rights
of the Participant and to receive any distribution with respect to any Award upon the Participant’s death. A beneficiary,
legal guardian, legal representative, or other person claiming any rights pursuant to the Plan is subject to all terms and conditions
of the Plan and any Program or Award Agreement applicable to the Participant, except to the extent the Plan, the Program and the
Award Agreement otherwise provide, and to any additional restrictions deemed necessary or appropriate by the Administrator. If
the Participant is married or a domestic partner in a domestic partnership qualified under Applicable Law and resides in a community
property state, a designation of a person other than the Participant’s spouse or domestic partner, as applicable, as the
Participant’s beneficiary with respect to more than 50% of the Participant’s interest in the Award shall not be effective
without the prior written or electronic consent of the Participant’s spouse or domestic partner. If no beneficiary has been
designated or survives the Participant, payment shall be made to the person entitled thereto pursuant to the Participant’s
will or the laws of descent and distribution. Subject to the foregoing, a beneficiary designation may be changed or revoked by
a Participant at any time; provided that the change or revocation is filed with the Administrator prior to the Participant’s
death.

 

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(j)          Conditions
to Issuance of Shares.

 

(i)          Notwithstanding
anything herein to the contrary, the Company shall not be required to issue or deliver any certificates or make any book entries
evidencing Shares pursuant to the exercise of any Award, unless and until the Board or the Committee has determined, with advice
of counsel, that the issuance of such Shares is in compliance with Applicable Law and the Shares are covered by an effective registration
statement or applicable exemption from registration. In addition to the terms and conditions provided herein, the Board or the
Committee may require that a Participant make such reasonable covenants, agreements and representations as the Board or the Committee,
in its sole discretion, deems advisable in order to comply with Applicable Law.

 

(ii)         All
share certificates delivered pursuant to the Plan and all Shares issued pursuant to book entry procedures are subject to any stop-transfer
orders and other restrictions as the Administrator deems necessary or advisable to comply with Applicable Law. The Administrator
may place legends on any share certificate or book entry to reference restrictions applicable to the Shares.

 

(iii)        The
Administrator shall have the right to require any Participant to comply with any timing or other restrictions with respect to the
settlement, distribution or exercise of any Award, including a window-period limitation, as may be imposed in the sole discretion
of the Administrator.

 

(iv)        No
fractional Shares shall be issued and the Administrator, in its sole discretion, shall determine whether cash shall be given in
lieu of fractional Shares or whether such fractional Shares shall be eliminated by rounding down.

 

(v)         Notwithstanding
any other provision of the Plan, unless otherwise determined by the Administrator or required by Applicable Law, the Company shall
not deliver to any Participant certificates evidencing Shares issued in connection with any Award and instead such Shares shall
be recorded in the books of the Company (or, as applicable, its transfer agent or stock plan administrator).

 

(k)          Forfeiture
and Claw-Back Provisions. Pursuant to its general authority to determine the terms and conditions applicable to Awards under
the Plan, the Administrator shall have the right to provide, in an Award Agreement or otherwise, or to require a Participant to
agree by separate written or electronic instrument, that:

 

(i)          Any
proceeds, gains or other economic benefit actually or constructively received by the Participant upon any receipt or exercise of
the Award, or upon the receipt or resale of any Shares underlying the Award, shall be paid to the Company, and (ii) the Award shall
terminate and any unexercised portion of the Award (whether or not vested) shall be forfeited, if (x) a termination of Continuous
Status as an Employee, Director or Consultant occurs prior to a specified date, or within a specified time period following receipt
or exercise of the Award, or (y) the Participant at any time, or during a specified time period, engages in any activity in competition
with the Company, or which is inimical, contrary or harmful to the interests of the Company, as further defined by the Administrator
or (z) the Participant incurs a termination of Continuous Status as an Employee, Director or Consultant for “cause”
(as such term is defined in the sole discretion of the Administrator, or as set forth in a written agreement relating to such Award
between the Company and the Participant); and

 

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(ii)         All
Awards (including any proceeds, gains or other economic benefit actually or constructively received by the Participant upon any
receipt or exercise of any Award or upon the receipt or resale of any Shares underlying the Award) shall be subject to the provisions
of any claw-back policy implemented by the Company, including, without limitation, any claw-back policy adopted to comply with
the requirements of Applicable Law, including without limitation the Dodd-Frank Wall Street Reform and Consumer Protection Act
and any rules or regulations promulgated thereunder, to the extent set forth in such claw-back policy and/or in the applicable
Award Agreement.

 

(l)          Prohibition
on Repricing. Subject to Section 12, the Administrator shall not, without the approval of the stockholders of the Company,
(i) authorize the amendment of any outstanding Option or Warrant to reduce its exercise or purchase price per share, or (ii) cancel
any Option or Warrant in exchange for cash or another Award when the Option or Warrant exercise or purchase price per share exceeds
the Fair Market Value of the underlying Shares. Subject to Section 12, the Administrator shall have the authority, without the
approval of the stockholders of the Company, to amend any outstanding Award to increase the exercise or purchase price per share
or to cancel and replace an Award with the grant of an Award having an exercise or purchase price per share that is greater than
or equal to the price per share of the original Award. Furthermore, for purposes of this Section 9(l), except in connection with
a corporate transaction involving the Company (including, without limitation, any stock dividend, stock split, extraordinary cash
dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination or exchange of shares), the
terms of outstanding Awards may not be amended to reduce the exercise or purchase price per share of outstanding Options or Warrants
or cancel outstanding Options or Warrants in exchange for cash, other Awards, Options or Warrants with an exercise or purchase
price per share that is less than the exercise or purchase price per share of the original Options or Warrants without the approval
of the stockholders of the Company.

 

(m)          Investment
Representations. The Company may require any Participant, or any person to whom an Award is transferred, as a condition of
exercising such Award, to (A) give written assurances satisfactory to the Company as to such person’s knowledge and
experience in financial and business matters 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 Option or Warrant or receiving such Stock, and (B) to
give written assurances satisfactory to the Company stating that such person is acquiring the Stock for such person’s own
account and not with any present intention of selling or otherwise distributing the Stock. The foregoing requirements, and any
assurances given pursuant to such requirements, shall not apply if (1) the issuance of the Stock has been registered under
a then currently effective registration statement under the Securities Act, or (2) counsel for the Company determines as to
any particular requirement that such requirement need not be met in the circumstances under the then applicable securities laws.
The Company may, with the advice of its counsel, place such legends on stock certificates issued under the Plan as the Company
deems necessary or appropriate to comply with applicable securities laws, including, but not limited to, legends restricting the
transfer of the Stock.

 

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10.         Provisions
applicable to awards intended to qualify as performance-based compensation.

 

(a)          Purpose.
The Committee, in its sole discretion, may determine at the time an Award is granted or at any time thereafter whether such Award
is intended to qualify as Performance-Based Compensation. If the Committee, in its sole discretion, decides to grant such an Award
to an Eligible Individual that is intended to qualify as Performance-Based Compensation (other than an Option or Warrant), then
the provisions of this Section 10 shall control over any contrary provision contained in the Plan. The Administrator, in its sole
discretion, may grant Awards to other Eligible Individuals that are based on Performance Criteria or Performance Goals or any such
other criteria and goals as the Administrator shall establish, but that do not satisfy the requirements of this Section 10 and
that are not intended to qualify as Performance-Based Compensation. Unless otherwise specified by the Committee at the time of
grant, the Performance Criteria with respect to an Award intended to be Performance-Based Compensation payable to a Covered Employee
shall be determined on the basis of Applicable Accounting Standards.

 

(b)          Applicability.
The grant of an Award to an Eligible Individual for a particular Performance Period shall not require the grant of an Award to
such Eligible Individual in any subsequent Performance Period and the grant of an Award to any one Eligible Individual shall not
require the grant of an Award to any other Eligible Individual in such period or in any other period.

 

(c)          Types
of Awards. Notwithstanding anything in the Plan to the contrary, the Committee may grant any Award to an Eligible Individual
intended to qualify as Performance-Based Compensation, including, without limitation, Restricted Stock the restrictions with respect
to which lapse upon the attainment of specified Performance Goals, Restricted Stock Units that vest and become payable upon the
attainment of specified Performance Goals and any Performance Awards described in Section 11 that vest or become exercisable or
payable upon the attainment of one or more specified Performance Goals.

 

(d)          Procedures
with Respect to Performance-Based Awards. To the extent necessary to comply with the requirements of Section 162(m)(4)(C) of
the Code, with respect to any Award granted to one or more Eligible Individuals which is intended to qualify as Performance-Based
Compensation, no later than 90 days following the commencement of any Performance Period or any designated fiscal period or period
of service (or such earlier time as may be required under Section 162(m) of the Code), the Committee shall, in writing, (a) designate
one or more Eligible Individuals, (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 based on the Performance Criteria,
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 Committee
shall certify in writing whether and the extent to which the applicable Performance Goals have been achieved for such Performance
Period. In determining the amount earned under such Awards, the Committee 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 Committee may
deem relevant, including the assessment of individual or corporate performance for the Performance Period.

 

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(e)          Payment
of Performance-Based Awards. Unless otherwise provided in the applicable Program or Award Agreement and only to the extent
otherwise permitted by Section 162(m) of the Code, as to an Award that is intended to qualify as Performance-Based Compensation,
the Participant must be employed by the Company or a Subsidiary throughout the Performance Period. Unless otherwise provided in
the applicable Performance Goals, Program or Award Agreement, a Participant shall be eligible to receive payment pursuant to such
Awards for a Performance Period only if and to the extent the Performance Goals for such period are achieved.

 

(f)          Additional
Limitations. Notwithstanding any other provision of the Plan and except as otherwise determined by the Administrator, any Award
which is granted to an Eligible Individual and is intended to qualify as Performance-Based Compensation shall be subject to any
additional limitations set forth in Section 162(m) of the Code or any regulations or rulings issued thereunder that are requirements
for qualification as Performance-Based Compensation, and the Plan and the applicable Program and Award Agreement shall be deemed
amended to the extent necessary to conform to such requirements.

 

11.         award
of performance awards, dividend equivalents, stock payments.

 

(a)          Performance
Awards.

 

(i)          The
Administrator is authorized to grant Performance Awards, including Awards of Performance Stock Units, to any Eligible Individual
and to determine whether such Performance Awards shall be Performance-Based Compensation. The value of Performance Awards, including
Performance Stock Units, may be linked to any one or more of the Performance Criteria or other specific criteria determined by
the Administrator, in each case on a specified date or dates or over any period or periods and in such amounts as may be determined
by the Administrator. Performance Awards, including Performance Stock Unit awards may be paid in cash, Shares, or a combination
of cash and Shares, as determined by the Administrator.

 

(ii)         Without
limiting Section 11(a)(i), the Administrator may grant Performance Awards to any Eligible Individual in the form of a cash bonus
payable upon the attainment of objective Performance Goals, or such other criteria, whether or not objective, which are established
by the Administrator, in each case on a specified date or dates or over any period or periods determined by the Administrator.
Any such bonuses paid to a Participant which are intended to be Performance-Based Compensation shall be based upon objectively
determinable bonus formulas established in accordance with the provisions of Section 10.

 

(b)          Dividend
Equivalents.

 

(i)          Dividend
Equivalents may be granted by the Administrator based on dividends declared on the Common Stock, to be credited as of dividend
payment dates with respect to dividends with record dates that occur during the period between the date an Award is granted to
a Participant and the date such Award vests, is exercised, is distributed or expires, as determined by the Administrator. Such
Dividend Equivalents shall be converted to cash or additional Shares by such formula and at such time and subject to such restrictions
and limitations as may be determined by the Administrator. In addition, Dividend Equivalents with respect to an Award with performance-based
vesting that are based on dividends paid prior to the vesting of such Award shall only be paid out to the Participant to the extent
that the performance-based vesting conditions are subsequently satisfied and the Award vests.

 

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(ii)         Notwithstanding
the foregoing, no Dividend Equivalents shall be payable with respect to Options or Warrants.

 

(c)          Stock
Payments. The Administrator is authorized to make Stock Payments to any Eligible Individual. The number or value of Shares
of any Stock Payment shall be determined by the Administrator and may be based upon one or more Performance Criteria or any other
specific criteria, including service to the Company or any Subsidiary, determined by the Administrator. Shares underlying a Stock
Payment which is subject to a vesting schedule or other conditions or criteria set by the Administrator shall not be issued until
those conditions have been satisfied. Unless otherwise provided by the Administrator, a Participant of a Stock Payment shall have
no rights as a Company stockholder with respect to such Stock Payment until such time as the Stock Payment has vested and the Shares
underlying the Award have been issued to the Participant. Stock Payments may, but are not required to, be made in lieu of base
salary, bonus, fees or other cash compensation otherwise payable to such Eligible Individual.

 

(d)          Term.
The term of a Performance Award, Dividend Equivalent award and/or a Stock Payment award shall be established by the Administrator
in its sole discretion.

 

(e)          Purchase
Price. The Administrator may establish the purchase price of a Performance Award or Shares distributed as a Stock Payment award;
provided, however, that value of the consideration shall not be less than the par value of a Share, unless otherwise permitted
by Applicable Law.

 

(f)          Termination
of Continuous Status as an Employee, Director or Consultant. A Performance Award, Stock Payment award and/or a Dividend Equivalent
award is distributable only while the Participant is an Employee, Director or Consultant, as applicable. The Administrator, however,
in its sole discretion, may provide that the Performance Award, Dividend Equivalent award and/or Stock Payment award may be distributed
subsequent to a termination of Continuous Status as an Employee, Director or Consultant in certain events, including a Change in
Control, the Participant’s death, retirement or disability or any other specified termination of Continuous Status as an
Employee, Director or Consultant.

 

12.         ADJUSTMENTS
ON CERTAIN EVENTS.

 

(a)          In
the event of any stock dividend, stock split, combination or exchange of shares, merger, consolidation or other distribution (other
than normal cash dividends) of Company assets to stockholders, or any other change affecting the Shares of the Company’s
stock or the share price of the Company’s stock other than an Equity Restructuring, the Administrator may make equitable
adjustments, if any, to reflect such change with respect to: (i) the aggregate number and kind of Shares that may be issued under
the Plan (including, but not limited to, adjustments of the limitations in Sections 3(a) and 3(b) on the maximum number and kind
of Shares which may be issued under the Plan, and adjustments of the Award Limit); (ii) the number and kind of Shares (or other
securities or property) subject to outstanding Awards; (iii) the number and kind of Shares (or other securities or property) that
may be issued by a single officer under the Plan; (iv) the terms and conditions of any outstanding Awards (including, without limitation,
any applicable performance targets or criteria with respect thereto); and (v) the grant or exercise price per share for any outstanding
Awards under the Plan. Any adjustment affecting an Award intended as Performance-Based Compensation shall be made consistent with
the requirements of Section 162(m) of the Code.

 

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(b)          In
the event of any transaction or event described in Section 12(a) or any unusual or nonrecurring transactions or events affecting
the Company, any Subsidiary of the Company, or the financial statements of the Company or any Subsidiary, or of changes in Applicable
Law or accounting principles, the Administrator, in its sole discretion, and on such terms and conditions as it deems appropriate,
either by the terms of the Award or by action taken prior to the occurrence of such transaction or event and either automatically
or upon the Participant’s request, is hereby authorized to take any one or more of the following actions whenever the Administrator
determines that such action is appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended
to be made available under the Plan or with respect to any Award under the Plan, to facilitate such transactions or events or to
give effect to such changes in laws, regulations or principles:

 

(i)          To
provide for either (A) termination of any such Award in exchange for an amount of cash, if any, equal to the amount that would
have been attained upon the exercise of such Award or realization of the Participant’s rights (and, for the avoidance of
doubt, if as of the date of the occurrence of the transaction or event described in this Section 12 the Administrator determines
in good faith that no amount would have been attained upon the exercise of such Award or realization of the Participant’s
rights, then such Award may be terminated by the Company without payment) or (B) the replacement of such Award with other rights
or property selected by the Administrator, in its sole discretion, having an aggregate value not exceeding the amount that could
have been attained upon the exercise of such Award or realization of the Participant’s rights had such Award been currently
exercisable or payable or fully vested;

 

(ii)         To
provide that such Award be assumed by the successor or survivor corporation, or a parent or subsidiary thereof, or shall be substituted
for by similar options, rights or awards covering the stock of the successor or survivor corporation, or a parent or subsidiary
thereof, with appropriate adjustments as to the number and kind of shares and prices;

 

(iii)        To
make adjustments in the number and type of Shares of the Company’s stock (or other securities or property) subject to outstanding
Awards, and in the number and kind of outstanding Restricted Stock and/or in the terms and conditions of (including the grant or
exercise price), and the criteria included in, outstanding Awards and Awards which may be granted in the future;

 

(iv)        To
provide that such Award shall be exercisable or payable or fully vested with respect to all Shares covered thereby, notwithstanding
anything to the contrary in the Plan or the applicable Program or Award Agreement; and

 

(v)         To
provide that the Award cannot vest, be exercised or become payable after such event.

 

(c)          In
connection with the occurrence of any Equity Restructuring, and notwithstanding anything to the contrary in Section 12(a) and 12(b):

 

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(i)          The
number and type of securities subject to each outstanding Award and the exercise price or grant price thereof, if applicable, shall
be equitably adjusted; and/or

 

(ii)         The
Administrator shall make such equitable adjustments, if any, as the Administrator, in its sole discretion, may deem appropriate
to reflect such Equity Restructuring with respect to the aggregate number and kind of Shares that may be issued under the Plan
(including, but not limited to, adjustments of the limitations in Sections 3(a) and 3(b) on the maximum number and kind of Shares
which may be issued under the Plan, and adjustments of the Award Limit). The adjustments provided under this Section 12(c) shall
be nondiscretionary and shall be final and binding on the affected Participant and the Company.

 

(d)          The
Administrator, in its sole discretion, may include such further provisions and limitations in any Award, agreement or certificate,
as it may deem equitable and in the best interests of the Company that are not inconsistent with the provisions of the Plan.

 

(e)          With
respect to Awards which are granted to Covered Employees and are intended to qualify as Performance-Based Compensation, no adjustment
or action described in this Section 12 or in any other provision of the Plan shall be authorized to the extent that such adjustment
or action would cause such Award to fail to so qualify as Performance-Based Compensation, unless the Administrator determines that
the Award should not so qualify. No adjustment or action described in this Section 12 or in any other provision of the Plan shall
be authorized to the extent that such adjustment or action would cause the Plan to violate Section 422(b)(1) of the Code.
Furthermore, no such adjustment or action shall be authorized to the extent such adjustment or action would result in short-swing
profits liability under Section 16 of the Exchange Act or violate the exemptive conditions of Rule 16b-3 unless the Administrator
determines that the Award is not to comply with such exemptive conditions.

 

(f)          The
existence of the Plan, the Program, the Award Agreement and the Awards granted hereunder shall not affect or restrict in any way
the right or power of the Company or the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization
or other change in the Company’s capital structure or its business, any merger or consolidation of the Company, any issue
of stock or of options, warrants or rights to purchase stock or of bonds, debentures, preferred or prior preference stocks whose
rights are superior to or affect the Common Stock or the rights thereof or which are convertible into or exchangeable for Common
Stock, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business,
or any other corporate act or proceeding, whether of a similar character or otherwise.

 

(g)          No
action shall be taken under this Section 12 which shall cause an Award to fail to be exempt from or comply with Section 409A of
the Code or the Treasury Regulations thereunder.

 

(h)          In
the event of any pending stock dividend, stock split, combination or exchange of shares, merger, consolidation or other distribution
(other than normal cash dividends) of Company assets to stockholders, or any other change affecting the Shares or the share price
of the Common Stock including any Equity Restructuring, for reasons of administrative convenience, the Administrator, in its sole
discretion, may refuse to permit the exercise of any Award during a period of up to thirty (30) days prior to the consummation
of any such transaction.

 

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(i)          No
Effect on Powers of Board or Stockholders. The existence of the Plan and any Awards granted hereunder shall not affect in any
way the right or power of the Board or the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization
or other change in the capital structure or business of the Company or any of its subsidiaries, any merger or consolidation of
the Company or a subsidiary of the Company, any issue of debt, preferred or prior preference stock ahead of or affecting Stock,
the authorization or issuance of additional Shares, the dissolution or liquidation of the Company or its subsidiaries, any sale
or transfer of all or part of its assets or business or any other corporate act or proceeding.

 

(j)          Fractional
Shares. All calculations under this Section 12 shall be, in the case of exercise price, rounded up to the nearest cent or,
in the case of shares, rounded down to the nearest one-hundredth of a share, but in no event shall the Company be obligated to
issue any fractional share.

 

(k)          Uniformity
of Actions Not Required. Any actions or determinations by the Board under this Section 12 need not be uniform as to all outstanding
Awards, and need not treat all Participants identically.

 

13.         TAX
WITHHOLDING OBLIGATIONS.

 

(a)          Tax
Withholding. The Company or any Subsidiary shall have the authority and the right to deduct or withhold, or require a Participant
to remit to the Company, an amount sufficient to satisfy federal, state, local and foreign taxes (including the Participant’s
FICA, employment tax or other social security contribution obligation) required by law to be withheld with respect to any taxable
event concerning a Participant arising as a result of the Plan. The Administrator, in its sole discretion and in satisfaction of
the foregoing requirement, may withhold, or allow a Participant to elect to have the Company withhold, Shares otherwise issuable
under an Award (or allow the surrender of Shares). The number of Shares which may be so withheld or surrendered shall be limited
to the number of Shares which have a fair market value on the date of withholding or repurchase equal to the aggregate amount of
such liabilities based on the minimum statutory withholding rates for federal, state, local and foreign income tax and payroll
tax purposes that are applicable to such supplemental taxable income. The Administrator shall determine the fair market value of
the Shares, consistent with applicable provisions of the Code, for tax withholding obligations due in connection with a broker-assisted
cashless Option or Warrant exercise involving the sale of Shares to pay the Option or Warrant exercise price or any tax withholding
obligation.

 

14.         AMENDMENT,
TERMINATION OR SUSPENSION OF THE PLAN.

 

(a)          Amendment,
Termination or Suspension of Plan. Except as otherwise provided in this Section 14(a), the Plan may be wholly or partially
amended or otherwise modified, suspended or terminated at any time or from time to time by the Board or the Committee. However,
without approval of the Company’s stockholders given within twelve (12) months before or after the action by the Administrator,
no action of the Administrator may, except as provided in Section 12, (i) increase the limits imposed in Section 3(a) on the maximum
number of Shares which may be issued under the Plan, (ii) reduce the price per share of any outstanding Option or Warrant granted
under the Plan or take any action prohibited under Section 9(l), or (iii) cancel any Option or Warrant in exchange for cash or
another Award when the Option or Warrant price per share exceeds the Fair Market Value of the underlying Shares. Except as provided
in Section 9(k) and Section 17(h), no amendment, suspension or termination of the Plan shall, without the consent of the Participant,
impair any rights or obligations under any Award theretofore granted or awarded, unless the Award itself otherwise expressly so
provides.

 

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(b)          Amendment
of Awards. The Board may amend the terms of any Award previously granted, including any Award Agreement, retroactively or prospectively,
but no such amendment shall materially impair the previously accrued rights of any Participant with respect to any such Award without
his or her written consent.

 

15.         COMPLIANCE
WITH SECTION 16 OF THE EXCHANGE ACT.

 

So long as a class
of the Company’s equity securities is registered under Section 12 of the Exchange Act, the Company intends that the Plan
shall comply in all respects with Rule 16b-3. If during such time any provision of this Plan is found not to be in compliance with
Rule 16b-3, that provision shall be deemed to have been amended or deleted as and to the extent necessary to comply with Rule 16b-3,
and the remaining provisions of the Plan shall continue in full force and effect without change. All transactions under the Plan
during such time shall be executed in accordance with the requirements of Section 16 of the Exchange Act and the applicable regulations
promulgated thereunder.

 

16.         LIMITATION
OF LIABILITY AND indemnification.

 

(a)          Contractual
Liability Limitation. Any liability of the Company or its subsidiaries to any Participant with respect to any Award shall be
based solely on contractual obligations created by the Plan and the Award Agreements outstanding thereunder.

 

(b)          Indemnification.
In addition to such other rights of indemnification as they may have as Directors or officers, Directors and officers to whom authority
to act for the Board or the Company is delegated shall be indemnified by the Company against all reasonable expenses, including
attorneys’ fees, actually and necessarily incurred in connection with the defense of any action, suit or proceeding, or in
connection with any appeal therein, to which they or any of them may be a party by reason of any action taken or failure to act
under or in connection with the Plan, or any right granted hereunder, and against all amounts paid by them in settlement thereof
(provided such settlement is approved by independent legal counsel selected by the Company) or paid by them in satisfaction of
a judgment in any such action, suit or proceeding, except in relation to matters as to which it shall be adjudged in such action,
suit or proceeding that such person is liable for gross negligence, bad faith or intentional misconduct in duties; provided, however,
that within sixty (60) days after the institution of such action, suit or proceeding, such person shall offer to the Company, in
writing, the opportunity at its own expense to handle and defend the same.

 

17.         MISCELLANEOUS

 

(a)          Approval
of Plan by Stockholders. The Plan shall be submitted for the approval of the Company’s stockholders within twelve (12)
months after the date of the Board’s initial adoption of the Plan. Awards may be granted or awarded prior to such stockholder
approval; provided that such Awards shall not be exercisable, shall not vest and the restrictions thereon shall not lapse and no
Shares shall be issued pursuant thereto prior to the time when the Plan is approved by the stockholders; and provided, further,
that if such approval has not been obtained at the end of said twelve (12) month period, all Awards previously granted or awarded
under the Plan shall thereupon be canceled and become null and void.

 

    	29

    	 

    

  

(b)          No
Stockholders Rights. Except as otherwise provided herein, a Participant shall have none of the rights of a stockholder with
respect to Shares covered by any Award until the Participant becomes the record owner of such Shares.

 

(c)          Paperless
Administration. In the event that the Company establishes, for itself or using the services of a third party, an automated
system for the documentation, granting or exercise of Awards, such as a system using an internet website or interactive voice response,
then the paperless documentation, granting or exercise of Awards by a Participant may be permitted through the use of such an automated
system.

 

(d)          Acceptance
of Terms and Conditions of Plan. By accepting any benefit under the Plan, each Participant and each person claiming under or
through such Participant shall be conclusively deemed to have indicated their acceptance and ratification of, and consent to, all
of the terms and conditions of the Plan and any action taken under the Plan by the Company, the Board or the Committee, in any
case in accordance with the terms and conditions of the Plan.

 

(e)          No
Effect on Other Arrangements. Neither the adoption of the Plan nor anything contained herein shall affect any other compensation
or incentive plans or arrangements of the Company or its subsidiaries, or prevent or limit the right of the Company or any subsidiary
to establish any other forms of incentives or compensation for their Employees, Directors or Consultants or grant or assume restricted
stock or other rights otherwise than under the Plan. Nothing in the Plan shall be construed to limit the right of the Company or
any Subsidiary: (a) to establish any other forms of incentives or compensation for Employees, Directors or Consultants of
the Company or any Subsidiary, or (b) to grant or assume options or other rights or awards otherwise than under the Plan in
connection with any proper corporate purpose including without limitation, the grant or assumption of options in connection with
the acquisition by purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any corporation, partnership,
limited liability company, firm or association.

 

(f)
          Compliance with Laws. The Plan, the granting and vesting
of Awards under the Plan and the issuance and delivery of Shares and the payment of money under the Plan or under Awards
granted or awarded hereunder are subject to compliance with all Applicable Law (including but not limited to state, federal
and foreign securities law and margin requirements), and to such approvals by any listing, regulatory or governmental
authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection therewith. Any
securities delivered under the Plan shall be subject to such restrictions, and the person acquiring such securities shall, if
requested by the Company, provide such assurances and representations to the Company as the Company may deem necessary or
desirable to assure compliance with all Applicable Law. To the extent permitted by Applicable Law, the Plan and Awards
granted or awarded hereunder shall be deemed amended to the extent necessary to conform to Applicable Law.

 

(g)   
       Governing Law. The Plan shall be governed by and construed in accordance
with the laws of the State of Delaware, without regard to such state’s conflict of law provisions, and, in any event,
except as superseded by applicable Federal law.

 

    	30

    	 

    

 

(h)          Section
409A. To the extent that the Administrator determines that any Award granted under the Plan is subject to Section 409A of the
Code, the Program pursuant to which such Award is granted and the Award Agreement evidencing such Award shall incorporate the terms
and conditions required by Section 409A of the Code. To the extent applicable, the Plan, the Program and any 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 after the Effective Date.
Notwithstanding any provision of the Plan to the contrary, in the event that following the Effective Date the Administrator determines
that any 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 Program and 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 (a) exempt the
Award from Section 409A of the Code and/or preserve the intended tax treatment of the benefits provided with respect to the Award,
or (b) comply with the requirements of Section 409A of the Code and related Department of Treasury guidance and thereby avoid the
application of any penalty taxes under such Section.

 

(i) 
         No Rights to Awards. No Eligible Individual or other person
shall have any claim to be granted any Award pursuant to the Plan, and neither the Company nor the Administrator is obligated
to treat Eligible Individuals, Participants or any other persons uniformly.

 

(j)   
       Unfunded Status of Awards. The Plan is intended to be an
“unfunded” plan for incentive compensation. With respect to any payments not yet made to a Participant pursuant
to an Award, nothing contained in the Plan or any Program or Award Agreement shall give the Participant any rights that are
greater than those of a general creditor of the Company or any Subsidiary.

 

(k)
         Relationship to other Benefits. No payment pursuant to the Plan
shall be taken into account in determining any benefits under any pension, retirement, savings, profit sharing, group
insurance, welfare or other benefit plan of the Company or any Subsidiary except to the extent otherwise expressly provided
in writing in such other plan or an agreement thereunder.

 

(l)   
        Expenses. The expenses of administering the Plan shall be borne by the
Company and its Subsidiaries.

 

    	31

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