Document:

Collaboration Agreement

 EXHIBIT 10.5 
  
 COLLABORATION AGREEMENT 
  
 This Agreement is entered into and made effective as of this 22nd day of April, 2003 by and between Medtronic, Inc., a Minnesota corporation, with a
principal office at 7000 Central Avenue NE, Minneapolis, Minnesota 55432.3576 (“Medtronic”) and Duska Scientific Co., a Delaware corporation, with its principal place of business at Two Bala Plaza, Suite 300, Bala Cynwyd, Pennsylvania
19004 (“Duska”). 
  
 GENERAL 
  
 Duska proposes to conduct a Phase II/III clinical trial of ATPaceTM (adenosine 5’-triphosphate) (the “Study
Drug”) as a test for the diagnosis of bradycardia in patients with suspected neurally-mediated syncope or syncope of unknown origin in comparison to Head Up Tilt (HUT) testing and Implanted Loop Recorder (ILR) monitoring as predictors of
cardiac pacing as an effective therapy in this patient population (the “Study”). The conduct of the Study also requires use of state-of-the-art pacemaker technology and use of implantable loop recorders. Medtronic is interested in and
willing to collaborate with Duska on the conduct of the Study, as set forth herein. Upon the successful completion of the Study, it is the parties intention, at the present time, to continue their collaboration in the area of postmarketing studies
of the Study Drug, subject to review and approval of protocols for such studies and the execution of a collaboration agreement covering such studies. 
  
 The parties therefore agree as follows: 
  

	SECTION 1.	CONDUCT OF STUDY; CONFORMANCE WITH LAW AND ACCEPTED PRACTICE 

  

	1.1	The Study will be conducted according to the Protocol attached hereto as Exhibit A, which may be modified from time to time as Duska shall in its sole discretion determine, provided
that Duska shall give Medtronic 30 days prior written notice of proposed changes to the Protocol, or if 30 days is not possible, as much notice as is reasonably possible under the circumstances. 

  

	1.2	The Medtronic® KAPPA 900 cardiac pacing device (“Pacing Device”) and the Medtronic® Reveal Plus® loop recorder (“Study Device” or “Study Devices”) will be implanted in certain Study participants. Study Devices will be utilized within indications for each respective Study Device, as approved by
the United States Food and Drug Administration (“FDA”), and Canadian regulatory authorities. All patients enrolled in the Phase III stage of the Study shall be indicated for the respective Study Devices, independent of the results of the
ATPace test. Medtronic shall be entitled to immediately terminate this Agreement if at any time the Protocol is amended to make use of a Study Device outside of its approved-FDA indication. 

  

	1.3	 As the sponsor of the Study, Duska shall comply with all applicable laws and regulations governing sponsors of clinical trials and shall be responsible for
selecting qualified investigators, complying with agreements with the institutions representing the 

  

	
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 Collaboration Agreement 
 Medtronic, Inc. and Duska Scientific Co. 
 ATPaceTM Phase II/III Study 
  

	 	 
investigative sites, and providing appropriate information to and monitoring of the investigators so that the Study is performed by those investigators in
conformance with generally accepted standards of good clinical practice, with the Protocol and with all applicable local, state and federal laws and regulations governing the performance of clinical investigations including, but not limited to, the
United States Food, Drug and Cosmetic Act and the regulations of the FDA and Canadian regulatory authorities. 

  

	1.4	The parties shall review progress of the Study at least semi-annually. No change in the planned collaborative research hereunder is binding upon a party hereto unless agreed upon by
parties to this Agreement in writing. 

  

	SECTION 2.	DESCRIPTION OF DUSKA’S RESPONSIBILITIES 

  

	2.1	Duska, as the sponsor of the Study, shall be responsible, subject to the responsibilities of the investigators that it selects and the institutions participating in the Study, for
the conduct of all aspects of the Study, including protocol design, study management, and data analysis. The Study shall be conducted utilizing such investigators and institutions as Duska shall select to participate in the Study and all
compensation of such investigators and institutions shall be the responsibility of Duska. Except as otherwise set forth in this Agreement relating to Medtronic’s obligation to provide certain technical assistance and consulting services and
Study Devices pursuant to Sections 3.1 and 3.3, Duska shall be responsible for the payment of all costs relating to the Study, whether direct or indirect. 

  

	2.2	Duska, as the sponsor of the Study, shall be responsible, in conjunction with the investigators participating in the Study, and subject to the responsibilities of the investigators
that it selects and the institutions participating in the Study, for complying with all applicable laws relating to the conduct of the Study, including those of the FDA, as well as the rules and regulations of the institutions that participate in
the Study. Duska shall be responsible for all regulatory activities required to secure FDA approval of the Study, including the investigational new drug application (“IND”) and for preparation of any new drug application (“NDA”)
for the Study Drug. 

  

	2.3	Duska shall be responsible for overseeing the review of manuscripts and publications related to the Study, subject to Medtronic’s rights to review and comment on such documents
prior to public release, as set forth in Section 4. 

  

	2.4	 Duska shall use reasonable efforts to include in the informed consents and research authorizations required to be signed by Study participants the appropriate
language to permit Medtronic to have access to and utilize Data in compliance with the HIPAA Privacy Regulation (as defined in Section 8.4(c)) for all Medtronic business purposes; provided, however, that Duska shall have no obligation to make any
additional payments to Study participants to obtain such informed consents or research authorizations, and any additional expense incurred by Duska that is not part of the additional clinical trial 

  

					
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 ATPaceTM Phase II/III Study 
  

	 	 
process to obtain such consents or research authorizations shall be reimbursed by Medtronic (subject to Medtronic approving any such expenditures in
advance). Prior to initiating use of the informed consents and research authorizations, Duska shall provide copies of those consents and authorizations to Medtronic for its review and comment. Medtronic shall assist Duska in formulating the
appropriate language required for the informed consents and research authorizations and shall assist Duska as necessary to obtain the necessary approvals from the IRBs and participating institutions. 

  

	SECTION 3.	DESCRIPTION OF MEDTRONIC’S RESPONSIBILITIES 

  

	3.1	Medtronic shall provide free of charge such technical assistance and consulting services to Duska as are reasonably requested by Duska in connection with the implantation,
programming, and monitoring of proper functioning of Study Devices in patients participating in the Study, to permit Duska to access and read the data provided by the Study Devices. 

  

	3.2	Medtronic shall use reasonable efforts to assist Duska in identifying potential investigators and institutions to participate in the Study through use of Medtronic’s knowledge
of the relevant medical device markets, provided, however, that all agreements relating to participation in the Study shall be between Duska and the investigators and institutions and provided, further, that Medtronic makes no warranty or
representation that suitable investigators or institutions can be found to conduct the Study as designed by Duska. 

  

	3.3.	Medtronic’s Reimbursement & Economic Department shall assist Duska and any institutions participating in the Study to obtain appropriate reimbursement for Study Devices.
For devices considered eligible for health insurance reimbursement, the Study agreement between Duska and the participating institution shall require the institution to submit claims for reimbursement for Study Devices and for related reasonable and
necessary procedures and services performed or ordered by a Study investigator, to the Study participant’s health insurer, whether a governmental health care program or other third party payor. The Study agreement shall also require the
participating institution to resubmit any claim eligible for reimbursement to the third party payor if the initial claim is denied, according to each center’s standard practices. When required by the payor, the investigator shall be required to
obtain prior authorization for the Study Devices and the related reasonable and necessary procedures and services. 

  

					
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 Collaboration Agreement 
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 ATPaceTM Phase II/III Study 
  

 For those Study participants who do not have medical insurance, or whose medical insurance has
coverage policy limitations that preclude them from submitting a claim for reimbursement for the Study Devices being used in the Study, Medtronic shall provide the required Study Devices at no charge and shall pay the Study investigator and Study
institution on a per study subject basis, according to the following: 
  
 ILR 
  
 Up to $400 for hospital expenses, and

  
 Up to $450 for physician’s fees for the ILR implant,
and device follow-up, and up to $275 for the ILR explant. 
  
 Pacing Device 
  
 Up to $1,200 for hospital expenses,
and 
  
 Up to $600 for physician’s fees for the pacemaker
implant and device follow-up. 
  
 The Study agreement between
Duska and the participating institutions shall require the participating institutions to document such no charge Study Devices through no-charge invoices or credit memos, which Medtronic shall provide to Duska and to the participating institutions.
It is anticipated that most Study participants will have medical insurance that will pay for the Study Devices and the related medical expenses. If the number of Study participants that require free devices from Medtronic exceeds fifty (50) ILRs and
ten (10) Pacemakers, then Medtronic shall be entitled to cease providing free Study Devices for the Study, in its sole discretion, provided, however, that before ceasing supply of any such Study Devices, Medtronic agrees to discuss with Duska the
possibility of supplying additional Study Devices. In the event that Medtronic exercises its right to terminate this Agreement pursuant to the provisions of Section 8.2(a), Medtronic agrees to continue to provide Study Devices (up to the maximum of
60 total Study Devices) as agreed to in this Section 3.3. Nothing in this agreement shall obligate Medtronic to replace any devices provided hereunder other than pursuant to Section 7.1 of this agreement. 
  

	3.4	Medtronic shall have the right to review and comment on all protocols, or protocol amendments, prepared by Duska and provide such technical advice, as it deems appropriate, in
connection with such protocols or protocol amendments. 

  

	SECTION 4.	PUBLICATIONS AND MANUSCRIPTS 

  

	4.1	 The Study data is expected to be pooled and analyzed as set forth in the Protocol. Any manuscripts for publication, texts of talks, abstracts of papers and similar
material that reference the Study Device will be submitted to Medtronic for review and comments related to technical accuracy and presence of confidential device information at least thirty (30) days prior to submission for publication or review by
a publication committee. A publications committee composed of investigators and Duska representatives will be created to review and comment on all abstracts and manuscripts. Duska shall hold in confidence Medtronic Confidential Information, and in
addition Duska will include language requiring deletion of Medtronic Confidential Information from such abstracts and manuscripts in its non-disclosure agreements that it is able to conclude with investigators and institutions prior to the
commencement of the Study. If an investigator 

  

					
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fails to sign a non-disclosure agreement covering Medtronic Confidential Information, Duska will not disclose any Medtronic Confidential Information to that
investigator unless the investigator agrees to delete all Medtronic Confidential Information from any publications made by such investigator. At Duska’s request, Medtronic shall also review and comment on any FDA submissions, including the NDA
relating to the Study Drug. 

  

	SECTION 5.	OWNERSHIP OF DATA 

  

	5.1	All information, documents and raw data developed in connection with this Agreement or resulting or created as a result of the performance of the Study (“Data”) shall be
owned by Duska, provided, however, that Duska hereby grants Medtronic a fully-paid worldwide nonexclusive license to utilize the Data in so far as the Data relates to Study Devices for its own business purposes, and may keep and use for all purposes
a copy of all such Data in so far as the Data is related to Study Devices, notwithstanding any other provision of this Agreement, provided, however, that nothing herein shall give Medtronic any right, title or interest in the Study Drug. 

  

	SECTION 6.	REPRESENTATIONS AND WARRANTIES 

  

	6.1	Medtronic and Duska, and the persons signing this Agreement on their behalf, represent and warrant that each is a legal entity with full right and authority in law and in fact to
enter into this Agreement. 

  

	6.2	Duska represents and warrants that, where required, it has or shall obtain in a timely manner, any and all necessary approvals for the Study, including authorizations from the FDA
and any medical institutions where the Study and the activities described in this Agreement are to be performed in whole or in part. 

  

	6.3	Medtronic and Duska represent and warrant that all employees, agents and associates whose services may be used to fulfill their respective obligations under this Agreement are or
shall be appropriately informed of the terms of this Agreement and are under legal obligation to them, by contract or otherwise, sufficient to enable them to fully comply with all provisions of this Agreement. 

  

	6.4	Duska represents and warrants that it will use its best efforts to cause the investigators selected by it to conduct the Study in a good and professional manner and that it will use
appropriately trained and qualified investigators, institutions, clinical research contracting organizations and its own employees to conduct the Study in accordance with the professional standards of the industry. 

  

	SECTION 7.	INDEMNIFICATION 

  

	7.1	 Medtronic shall defend, indemnify and hold harmless Duska, its directors, officers, agents and employees against any and all claims, causes of action, suits,
damages and costs 

  

					
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arising out of or in connection with the Study to the extent that they are caused by the defect or malfunction of the Study Device, except to the extent that
such claim, causes of action, suits, damages and costs are based upon the willful or negligent acts or omissions of Duska or a participating institution or investigator or the failure of a participating institution or investigator to follow the
established protocol for the Study. 

  

	7.2	Duska shall defend, indemnify and hold harmless Medtronic, its directors, officers, agents and employees against any and all claims, causes of action, suits, damages and costs
arising out of or in connection with (a) the administration of the Study Drug during the course of the Study; (b) the design or conduct of the Study, (c) any use of the Study Device in the Study outside of such Study Device’s approved
indication, (d) any breach of it’s representations and warranties contained in Section 6, and (e) the willful or negligent acts or omissions of Duska. 

  

	7.3	A party indemnified under this Agreement shall provide the indemnifying party with prompt written notice of any claim, demand or notice of action for which indemnification may be
provided under this Agreement and the indemnifying party shall have full control over the defense and settlement of any claim or action for which indemnification shall be required under this Agreement. The indemnifying party agrees, at its own
expense, to provide attorneys to defend against any actions brought or filed against the indemnified party with respect to the indemnity contained herein, whether or not such claims or actions are rightfully brought or filed.

  

	7.4	The indemnified party shall reasonably cooperate with the indemnifying party and its legal representatives in the investigation and defense of any claim or suit covered under this
Agreement. In the event a claim or action is or may be asserted, the indemnified party shall have the right to select and to obtain representation by separate legal counsel. If the indemnified party exercises such right, all costs and expenses
incurred by the indemnified party for such separate counsel shall be borne by the indemnified party. 

  

	SECTION 8.	MISCELLANEOUS 

  

	8.1	Term of Agreement. This Agreement shall continue in force until (a) two years following approval of the Study Drug for marketing by the FDA, or (b) five years following
submission to FDA of an NDA for the Study Drug, whichever occurs first. 

  

	8.2	Termination. This Agreement may be terminated by either party: 

  

	 	(a)	at any time upon sixty (60) days prior written notice to the other party; 

  

	 	(b)	if either party fails to comply with the terms of this Agreement, 60 days after receipt by the defaulting party of written notice of such default, and failure of the defaulting
party to cure such default within such 60 day time period; or 

  

					
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	 	(c)	immediately upon a decision by Duska to terminate the Study for any reason or upon termination by Medtronic as provided in Section 1.2. 

  

	 	(d)	Upon notice of termination of this Agreement, each party shall cooperate fully and to the best of its ability to transfer know-how, data, materials, publications and all other
material, including know-how, data, materials and reports that are created in the course of performing the Study, that are the property of the other party upon such termination. 

  

	 	(e)	Termination of this Agreement by either party shall not affect the rights and obligations of the parties accrued prior to the effective date of the termination. The rights and
obligations under Sections 3.3 (as it relates to provision of Study Devices by Medtronic), 4, 5, 6, 7, 8.2(d), 8.2(e), 8.3, 8.4, 8.5 and 8.6 shall survive the termination or expiration of this Agreement. 

  

	8.3	Use of Names. 

  

	 	(a)	Neither party shall use the name, symbols or marks of the other in connection with any product, promotion or advertising, including in connection with the conduct of the Study,
without the prior written consent of the other party. This excludes communications mandatory for the conduct of the study, including study investigators, patients, study institutions, IRB’s, insurance carriers, and state and federal regulatory
agencies in both the US and Canada. 

  

	 	(b)	Neither party shall release or distribute any materials or information (excluding reprints of published materials) containing the name of the other party or any of its employees,
other than as specifically contemplated herein, without prior written approval by an authorized representative of the non-releasing party, but said approval shall not be unreasonably withheld. Notwithstanding the foregoing, Duska shall have the
right to disclose factual information related to this Agreement with Medtronic to research collaborators, business entities, investors and shareholders, in any and all filings and disclosures necessary or required by the FDA and/or by any other
governmental agency in connection with the development, licensing, sublicensing and approval of any products resulting from the Study. 

  

	8.4	Confidential Information. 

  

	 	(a)	 Any information acquired by a party (the “Receiving Party”) from the other party to this Agreement (the “Disclosing Party”) which is identified
in writing as confidential by the Disclosing Party, and any material, information, data, drugs and devices developed in the course of performing the activities described in this Agreement (hereafter “Confidential Information”) shall be
maintained in confidence and not used by the Receiving Party, or its employees, agents, or 

  

					
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assistants, except as necessary to perform the activities described in this Agreement. The obligation of non-disclosure shall not apply to the following:

  

	 	(i)	information at or after such time that it is or becomes publicly available through no fault of the Receiving Party; 

  

	 	(ii)	information that is already independently known to the Receiving Party as shown by its prior written records, provided that the Receiving Party so advises the Disclosing Party
promptly upon the Receiving Party’s discovery that the Information is already independently known to the Receiving Party; 

  

	 	(iii)	information that it is disclosed to the Receiving Party on a non-confidential basis by a third party with the legal right to do so; or 

  

	 	(iv)	information that is required by law to be disclosed. 

  

	 	(b)	The obligations under this Section shall survive and continue for three (3) years after termination of this Agreement. 

  

	 	(c)	Duska and Medtronic acknowledge their respective obligations under this Agreement to maintain the security and confidentiality of individually identifiable patient health
information. The parties agree to abide by the terms of any research authorization and informed consent signed by Study participants, and to comply with applicable federal and state health information confidentiality laws and regulations, including
as applicable, the Standards for Privacy of Individually Identifiable Health Information (“HIPAA Privacy Regulation”) published at Title 45 of the United States Code of Federal Regulations parts 160 and 164. 

  

	8.5	Inventions. The parties do not contemplate that any inventions will result from the Study. However, if any inventions do result from the performance of Study under this
Agreement, ownership of such inventions, whether or not patentable, will fully vest as follows: 

  

	 	(a)	 Duska acknowledges sole ownership in Medtronic of any ideas, inventions, improvements or suggestions arising from the performance of the activities described in the
Agreement which are related to any Study Device utilized in the Study or Medtronic Confidential Information provided by Medtronic to Duska under this Agreement (“Medtronic Ideas”). Duska hereby assigns to Medtronic all rights in such
Medtronic Ideas, including the right to apply for and obtain patents. Duska will immediately advise Medtronic of any such Medtronic Ideas and will offer reasonable assistance, at the expense of Medtronic, in applying for and obtaining relevant
patents. Duska represents and warrants that each of its 

  

					
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technical employees has entered into a written agreement, which assigns to Duska all inventions made by the employee during the course of his or her
employment. 

  

	 	(b)	Medtronic acknowledges sole ownership in Duska of any ideas, inventions, improvements or suggestions arising from the performance of the activities described in the Agreement which
are related to the Study Drug or Duska Confidential Information provided by Duska to Medtronic under this Agreement (“Duska Ideas”). Medtronic hereby assigns to Duska all rights in such Duska Ideas including the right to apply for and
obtain patents. Medtronic will immediately advise Duska of any such Duska Ideas and will offer reasonable assistance, at the expense of Duska, in applying for and obtaining relevant patents. Medtronic represents and warrants that each of its
technical employees has entered into a written agreement, which assigns to Medtronic all inventions made by the employee during the course of his or her employment. 

  

	8.6	Choice of Law. This Agreement shall be construed in accordance with the laws of the State of Minnesota, except with respect to its conflict of law provisions.

  

	8.7	Severability. If a court of competent jurisdiction determines that any provision of this Agreement is invalid or unenforceable, then the invalidity or the unenforceability of
that provision shall not affect the validity or enforceability of any other provision of this Agreement, and all other provisions shall remain in full force and effect. If any of the provisions of this Agreement is held to be excessively broad, it
shall be reformed and construed by limiting and reducing it so as to be enforceable to the maximum extent permitted by law. 

  

	8.8	Assignment; Binding Effect. Neither party may assign or transfer this Agreement or any of its rights or obligations hereunder, without the other party’s express prior
written consent, which shall not be unreasonably withheld, provided, however, that nothing in this Section 8.8 shall prohibit Duska from contracting with third parties to perform the Study, act as consultants or to otherwise assist in the
preparation of the NDA for submission to the FDA or assigning this Agreement to a successor in interest by merger, assignment, purchase or otherwise of substantially all of the assets and business of Duska. This Agreement shall inure to the benefit
of and be binding upon each party hereto, its successors and permitted assigns. No assignment shall relieve either party of the performance of any accrued obligation that such party may then have under this Agreement. 

  

	8.9	Independent Contractors. In the performance of the respective obligations and responsibilities hereunder, each of the parties shall be deemed to be and shall be an
independent contractor. Neither party is authorized or empowered to act as agent for the other for any purpose and shall not, on behalf of, the other enter into any contract, warranty or representation as to any matter. Neither party shall be bound
by the acts or conduct of the other. 

  

					
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	8.10	Notices. Any notice required or permitted herein shall be in writing and shall be deemed given as of the date it is (a) delivered by hand, (b) received by Registered or
Certified Mail, postage prepaid, return receipt requested, (c) received by a nationally-recognized overnight courier service such as FedEx or Airborne, with evidence of delivery, or (d) received by facsimile and addressed to the party to receive
such notice at the address set forth below, or such other address as is subsequently specified in writing: 

  

							
	 If to Duska:

	  	 If to Medtronic:

	Sanford Hillsberg	  	Marcus Mianulli
	VP, Duska Scientific	  	Medtronic, Inc
	C/O Troy and Gould	  	Director, Business Development
	1801 Century Park East	  	     & Physician Research

	16th Floor	  	7000 Central Avenue NE, Mail Stop T306
	Los Angeles, CA 90067	  	Minneapolis Minnesota 55432-3576
	Telephone:	  	(310) 553-4441	  	Telephone:	  	(763) 514-3431
	Fax:	  	(310) 201-4746	  	Fax:	  	(763) 514-8893

  

	8.11	Entire Understanding; Modification of Agreement; Waiver. This Agreement represents the entire understanding of the parties with respect to the subject matter hereof. This
Agreement may be modified or amended only in a writing signed by all parties to this Agreement. No oral modification or amendment of this Agreement shall have any force or effect. No waiver of any term, provision or condition of this Agreement
whether by conduct or otherwise in any one or more instances shall be deemed to be or construed as a further or continuing waiver of any such term, provision or condition, or of any other term, provision or condition of this Agreement.

  
 IN WITNESS WHEREOF, each of the parties has caused this
Agreement to be executed by its duly authorized representative as of the day and year first above written. 
  

									
	 DUSKA SCIENTIFIC CO.
	 	 	 	 MEDTRONIC, INC.

					
	 By
	 	 /s/ Manfred Mosk
	 	 	 	 By
	 	 /s/ Warren S. Watson

	 	 	 Manfred Mosk
	 	 	 	 Its
	 	 Vice President

	 	 	 Its Chairman
	 	 	 	 	 	 AM Business Operations

  

					
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 [attach Protocol for Phase II/III Study] 
  

					
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	 	 	112004 Equity Incentive Plan

 EXHIBIT 10.6 
  
 2004 EQUITY INCENTIVE PLAN 
 OF 
 DUSKA THERAPEUTICS, INC. 
  

	1.	PURPOSES OF THE PLAN 

  
 The purposes of the 2004 Equity Incentive Plan (“Plan”) of DUSKA THERAPEUTICS, INC., a Nevada corporation (the “Company”), are to:

  
 1.1 Encourage selected employees, directors, consultants and
advisers to improve operations and increase the profitability of the Company; 
  
 1.2 Encourage selected employees, directors, consultants and advisers to accept or continue employment or association with the Company or its Affiliates; and 
  
 1.3 Increase the interest of selected employees, directors, consultants and
advisers in the Company’s welfare through participation in the growth in value of the common stock of the Company, par value $.001 per share (the “Common Stock”). 
  

	2.	TYPES OF AWARDS; ELIGIBLE PERSONS 

  
 2.1 The Administrator (as defined below) may, from time to time, take the following action, separately or in combination, under the Plan: (i) grant
“incentive stock options” (“ISOs”) intended to satisfy the requirements of Section 422 of the Internal Revenue Code of 1986, as amended, and the regulations thereunder (the “Code”); (ii) grant “non-qualified
options” (“NQOs,” and together with ISOs, “Options”); (iii) grant or sell Common Stock subject to restrictions (“restricted stock”) and (iv) grant stock appreciation rights (in general, the right to receive the
excess of the fair market value of Common Stock on the exercise date over its fair market value on the grant date (“SARs”)), either in tandem with Options or as separate and independent grants. Any such awards may be made to employees,
including employees who are officers or directors, and to individuals described in Section 1 of this Plan who the Administrator believes have made or will make a contribution to the Company or any Affiliate (as defined below); provided,
however, that only a person who is an employee of the Company or any Affiliate at the date of the grant of an Option is eligible to receive ISOs under the plan. The term “Affiliate” as used in this Plan means a parent or subsidiary
corporation as defined in the applicable provisions (currently Sections 424(e) and (f), respectively) of the Code. The term “employee” includes an officer or director who is an employee of the Company. The term “consultant”
includes persons employed by, or otherwise affiliated with, a consultant. The term “adviser” includes persons employed by, or otherwise affiliated with, an adviser. 
  
 2.2 Except as otherwise expressly set forth in this Plan, no right or benefit under this Plan shall be subject in any manner
to anticipation, alienation, hypothecation, or charge, and any such attempted action shall be void. No right or benefit under this Plan shall in any manner be 

  

 1 

 
liable for or subject to debts, contracts, liabilities, or torts of any option holder or any other person except as otherwise may be expressly required by
applicable law. 
  

	3.	STOCK SUBJECT TO THIS PLAN; MAXIMUM NUMBER OF GRANTS 

  
 Subject to the provisions of Sections 6.1.1 and 8.2 of this Plan, the total number of shares of Common Stock which may be offered, or issued as restricted
stock or on the exercise of Options or SARs under the Plan shall not exceed six million (6,000,000) shares of Common Stock. The shares subject to an Option or SAR granted under the Plan which expire, terminate or are cancelled unexercised shall
become available again for grants under this Plan. If shares of restricted stock awarded under the Plan are forfeited to the Company or repurchased by the Company, the number of shares forfeited or repurchased shall again be available under the
Plan. Where the exercise price of an Option is paid by means of the optionee’s surrender of previously owned shares of Common Stock or the Company’s withholding of shares otherwise issuable upon exercise of the Option as may be permitted
herein, only the net number of shares issued and which remain outstanding in connection with such exercise shall be deemed “issued” and no longer available for issuance under this Plan. No eligible person shall be granted Options or other
awards during any twelve-month period covering more than four hundred thousand (400,000) shares. 
  

	4.	ADMINISTRATION 

  
 4.1 This Plan shall be administered by the Board of Directors of the Company (the “Board”) or by a committee (the “Committee”) to
which administration of this Plan, or of part of this Plan, is delegated by the Board (in either case, the “Administrator”). The Board shall appoint and remove members of the Committee in its discretion in accordance with applicable laws.
At the Board’s discretion, the Committee may be comprised solely of “non-employee directors” within the meaning of Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or “outside
directors” within the meaning of Section 162(m) of the Code. The Administrator may delegate non-discretionary administrative duties to such employees of the Company as the Administrator deems proper and the Board, in its absolute discretion,
may at any time and from time to time exercise any and all rights and duties of the Administrator under this Plan. 
  
 4.2 Subject to the other provisions of this Plan, the Administrator shall have the authority, in its discretion: (i) to grant Options and SARs and grant
or sell restricted stock; (ii) to determine the fair market value of the Common Stock subject to Options or other awards; (iii) to determine the exercise price of Options granted, the economic terms of SARs granted, or the offering price of
restricted stock; (iv) to determine the persons to whom, and the time or times at which, Options or SARs shall be granted or restricted stock granted or sold, and the number of shares subject to each Option or SAR or the number of shares of
restricted stock granted or sold; (v) to construe and interpret the terms and provisions of this Plan, of any applicable agreement and all Options and SARs granted under this Plan, and of any restricted stock award under this Plan; (vi) to
prescribe, amend, and rescind rules and regulations relating to this Plan; (vii) to determine the terms and provisions of each Option and SAR granted and award of restricted stock (which need not be identical), including but not limited to, the time
or times at which 

  

 2 

 
Options and SARs shall be exercisable or the time at which the restrictions on restricted stock shall lapse; (viii) with the consent of the grantee, to
rescind any award or exercise of an Option or SAR and to modify or amend the terms of any Option, SAR or restricted stock; (ix) to reduce the exercise price of any Option, the base value from which appreciation is to be determined with respect to an
SAR or the purchase price of restricted stock; (x) to accelerate or defer (with the consent of the grantee) the exercise date of any Option or SAR or the date on which the restrictions on restricted stock lapse; (xi) to issue shares of restricted
stock to an optionee in connection with the accelerated exercise of an Option by such optionee; (xii) to authorize any person to execute on behalf of the Company any instrument evidencing the grant of an Option. SAR or award of restricted stock;
(xiii) to determine the duration and purposes of leaves of absence which may be granted to participants without constituting a termination of their employment for the purposes of the Plan; and (xiv) to make all other determinations deemed necessary
or advisable for the administration of this Plan, any applicable agreement, Option, SAR or award of restricted stock. 
  
 4.3 All questions of interpretation, implementation, and application of this Plan or any agreement or Option, SAR or award of restricted stock shall be
determined by the Administrator, which determination shall be final and binding on all persons. 
  

	5.	GRANTING OF OPTIONS AND SARS; AGREEMENTS 

  
 5.1 No Options or SARs shall be granted under this Plan after ten (10) years from the date of adoption of this Plan by the Board. 
  
 5.2 Each Option and SAR shall be evidenced by a written agreement, in form
satisfactory to the Administrator, executed by the Company and the person to whom such grant is made. In the event of a conflict between the terms or conditions of an agreement and the terms and conditions of this Plan, the terms and conditions of
this Plan shall govern. 
  
 5.3 Each agreement shall specify
whether the Option it evidences is an NQO or an ISO, provided, however, all Options granted under this Plan to non-employee directors, consultants and advisers of the Company are intended to be NQOs. 
  
 5.4 Subject to Section 6.3.3 with respect to ISOs, the Administrator may
approve the grant of Options or SARs under this Plan to persons who are expected to become employees, directors, consultants or advisers of the Company, but are not employees, directors, consultants or advisers at the date of approval. 

 

	6.	TERMS AND CONDITIONS OF OPTIONS AND SARS 

  
 Each Option and SAR granted under this Plan shall be subject to the terms and conditions set forth in Section 6.1. NQOs and SARs shall also be subject to
the terms and conditions set forth in Section 6.2, but not those set forth in Section 6.3. ISOs shall also be subject to the terms and conditions set forth in Section 6.3, but not those set forth in Section 6.2. SARs shall be subject to the terms
and conditions of Section 6.4. 
  

 3 

 6.1 Terms and Conditions to Which All Options and SARs Are Subject. All Options and SARs granted
under this Plan shall be subject to the following terms and conditions: 
  
 6.1.1 Changes in Capital Structure. Subject to Section 6.1.2, if the stock of the Company is changed by reason of a stock split, reverse stock split, stock dividend, recapitalization, combination or
reclassification, or if the Company effects a spin-off of the Company’s subsidiary, appropriate adjustments shall be made by the Administrator, in its sole discretion, in (a) the number and class of shares of stock subject to this Plan and each
Option and SAR outstanding under this Plan, and (b) the exercise price of each outstanding Option; provided, that the Company shall not be required to issue fractional shares as a result of any such adjustments. Any adjustment, however, in an
outstanding Option shall be made without change in the total price applicable to the unexercised portion of the Option but with a corresponding adjustment in the price for each share covered by the unexercised portion of the Option. Adjustments
under this Section 6.1.1 shall be made by the Administrator, whose determination as to the nature of the adjustments that shall be made, and the extent thereof, shall be final, binding, and conclusive. If an adjustment under this Section 6.1.1 would
result in a fractional share interest under an option or any installment, the Administrator’s decision as to inclusion or exclusion of that fractional share interest shall be final, but no fractional shares of stock shall be issued under the
Plan on account of any such adjustment. 
  
 6.1.2
Corporate Transactions. Except as otherwise provided in the applicable agreement, in the event of a Corporate Transaction (as defined below), the Administrator shall notify each holder of an Option or SAR at least thirty (30) days prior
thereto or as soon as may be practicable. To the extent not then exercised all Options and SARs shall terminate immediately prior to the consummation of such Corporate Transaction unless the Administrator determines otherwise in its sole discretion;
provided. however, that the Administrator, in its sole discretion, may (i) permit exercise of any Options or SARs prior to their termination, even if such Options or SARs would not otherwise have been exercisable, and/or (ii) provide
that all or certain of the outstanding Options and SARs shall be assumed or an equivalent Option or SAR substituted by an applicable successor corporation or entity or any Affiliate of the successor corporation or entity. A “Corporate
Transaction” means (i) a liquidation or dissolution of the Company; (ii) a merger or consolidation of the Company with or into another corporation or entity (other than a merger with a wholly-owned subsidiary); (iii) a sale of all or
substantially all of the assets of the Company; or (iv) a purchase or other acquisition of more than 50% of the outstanding stock of the Company by one person or by more than one person acting in concert. 
  
 6.1.3 Time of Option or SAR Exercise. Subject to
Section 5 and Section 6.3.4, an Option or SAR granted under the Plan shall be exercisable (a) immediately as of the effective date of the of the applicable agreement or (b) in accordance with a schedule or performance criteria as may be set by the
Administrator and specified in the applicable agreement. However, in no case may an Option or SAR be exercisable until a written agreement in form and substance satisfactory to the Company is executed by the Company and the grantee. 
  
 6.1.4 Grant Date. The date of grant of an Option or
SAR under the Plan shall be the effective date of the applicable agreement. 
  

 4 

 6.1.5 Non-Transferability of Rights. Except with the express written approval of
the Administrator, which approval the Administrator is authorized to give only with respect to NQOs and SARs, no Option or SAR granted under this Plan shall be assignable or otherwise transferable by the grantee except by will or by the laws of
descent and distribution. During the life of the grantee, an Option or SAR shall be exercisable only by the grantee. 
  
 6.1.6 Payment. Except as provided below, payment in full, in cash, shall be made for all stock purchased at the time written notice
of exercise of an Option is given to the Company and the proceeds of any payment shall be considered general funds of the Company. The Administrator, in the exercise of its absolute discretion after considering any tax, accounting and financial
consequences, may authorize any one or more of the following additional methods of payment: 
  
 (a) Subject to the Sarbanes-Oxley Act of 2002, acceptance of the optionee’s full recourse promissory note for all or part of the
Option price, payable on such terms and bearing such interest rate as determined by the Administrator (but in no event less than the minimum interest rate specified under the Code at which no additional interest or original issue discount would be
imputed), which promissory note may be either secured or unsecured in such manner as the Administrator shall approve (including, without limitation, by a security interest in the shares of the Company); 
  
 (b) Subject to the discretion of the Administrator and the
terms of the stock option agreement granting the Option, delivery by the optionee of shares of Common Stock already owned by the optionee for all or part of the Option price, provided the fair market value (determined as set forth in Section 6.1.9)
of such shares of Common Stock is equal on the date of exercise to the Option price, or such portion thereof as the optionee is authorized to pay by delivery of such stock; 
  
 (c) Subject to the discretion of the Administrator, through the surrender of shares of Common Stock then
issuable upon exercise of the Option, provided the fair market value (determined as set forth in Section 6.1.9) of such shares of Common Stock is equal on the date of exercise to the Option price, or such portion thereof as the optionee is
authorized to pay by surrender of such stock; and 
  
 (d) By means of so-called cashless exercises as permitted under applicable rules and regulations of the Securities and Exchange Commission and the Federal Reserve Board. 
  

 5 

 6.1.7 Withholding and Employment Taxes. At the time of exercise and as a condition
thereto, or at such other time as the amount of such obligation becomes determinable, the grantee of an Option or SAR shall remit to the Company in cash all applicable federal and state withholding and employment taxes. Such obligation to remit may
be satisfied, if authorized by the Administrator in its sole discretion, after considering any tax, accounting and financial consequences, by the holder’s (i) delivery of a promissory note in the required amount on such terms as the
Administrator deems appropriate, (ii) tendering to the Company previously owned shares of Common Stock or other securities of the Company with a fair market value equal to the required amount, or (iii) agreeing to have shares of Common Stock (with a
fair market value equal to the required amount), which are acquired upon exercise of the Option or SAR, withheld by the Company. 
  
 6.1.8 Other Provisions. Each Option and SAR granted under this Plan may contain such other terms, provisions, and conditions not
inconsistent with this Plan as may be determined by the Administrator, and each ISO granted under this Plan shall include such provisions and conditions as are necessary to qualify the Option as an “incentive stock option” within the
meaning of Section 422 of the Code. 
  
 6.1.9
Determination of Value. For purposes of this Plan, the fair market value of Common Stock or other securities of the Company shall be determined as follows: 
  
 (a) If the stock of the Company is listed on a securities exchange or is regularly quoted by a recognized
securities dealer, and selling prices are reported, its fair market value shall be the closing price of such stock on the date the value is to be determined, but if selling prices are not reported, its fair market value shall be the mean between the
high bid and low asked prices for such stock on the date the value is to be determined (or if there are no quoted prices for the date of grant, then for the last preceding business day on which there were quoted prices). 
  
 (b) In the absence of an established market for the stock,
the fair market value thereof shall be determined in good faith by the Administrator, with reference to the Company’s net worth, prospective earning power, dividend-paying capacity, and other relevant factors, including the goodwill of the
Company, the economic outlook in the Company’s industry, the Company’s position in the industry, the Company’s management, and the values of stock of other corporations in the same or a similar line of business. 
  
 6.1.10 Option and SAR Term. No Option or SAR shall be
exercisable more than 10 years after the date of grant, or such lesser period of time as is set forth in the applicable agreement (the end of the maximum exercise period stated in the agreement is referred to in this Plan as the “Expiration
Date”). 
  
 6.2 Terms and Conditions to Which Only NQOs
Are Subject. Options granted under this Plan which are designated as NQOs shall be subject to the following terms and conditions: 
  
 6.2.1 Exercise Price. The exercise price of an NQO shall be the amount determined by the Administrator as specified in the option
agreement. 
  

 6 

 6.2.2 Termination of Employment. Except as otherwise provided in the applicable
agreement, if for any reason a grantee ceases to be employed by the Company or any of its Affiliates, Options that are NQOs and SARs held at the date of termination (to the extent then exercisable) may be exercised in whole or in part at any time
within ninety (90) days of the date of such termination (but in no event after the Expiration Date). For purposes of this Section 6.2.2, “employment” includes service as a director, consultant or adviser. For purposes of this Section
6.2.2, a grantee’s employment shall not be deemed to terminate by reason of the grantee’s transfer from the Company to an Affiliate, or vice versa, or sick leave, military leave or other leave of absence approved by the Administrator, if
the period of any such leave does not exceed ninety (90) days or, if longer, if the grantee’s right to reemployment by the Company or any Affiliate is guaranteed either contractually or by statute. 
  
 6.3 Terms and Conditions to Which Only ISOs Are Subject. Options
granted under this Plan which are designated as ISOs shall be subject to the following terms and conditions: 
  
 6.3.1 Exercise Price. The exercise price of an ISO shall not be less than the fair market value (determined in accordance with
Section 6.1.9) of the stock covered by the Option at the time the Option is granted. The exercise price of an ISO granted to any person who owns, directly or by attribution under the Code (currently Section 424(d)), stock possessing more than ten
percent (10%) of the total combined voting power of all classes of stock of the Company or of any Affiliate (a “Ten Percent Stockholder”) shall in no event be less than one hundred ten percent (110%) of the fair market value (determined in
accordance with Section 6.1.9) of the stock covered by the Option at the time the Option is granted. 
  
 6.3.2 Disqualifying Dispositions. If stock acquired by exercise of an ISO granted pursuant to this Plan is disposed of in a
“disqualifying disposition” within the meaning of Section 422 of the Code (a disposition within two (2) years from the date of grant of the Option or within one year after the issuance of such stock on exercise of the Option), the holder
of the stock immediately before the disposition shall promptly notify the Company in writing of the date and terms of the disposition and shall provide such other information regarding the Option as the Company may reasonably require. 
  
 6.3.3 Grant Date. If an ISO is granted in
anticipation of employment as provided in Section 5.4, the Option shall be deemed granted, without further approval, on the date the grantee assumes the employment relationship forming the basis for such grant, and, in addition, satisfies all
requirements of this Plan for Options granted on that date. 
  
 6.3.4 Term. Notwithstanding Section 6.1.10, no ISO granted to any Ten Percent Stockholder shall be exercisable more than five (5) years after the date of grant. 
  
 6.3.5 Termination of Employment. Except as otherwise
provided in the stock option agreement, if for any reason an optionee ceases to be employed by the Company or any of its Affiliates, Options that are ISOs held at the date of termination (to the extent then exercisable) may be exercised in whole or
in part at any time within ninety (90) days of the date of such termination (but in no event after the Expiration Date). For purposes of this Section 6.3.5, an optionee’s employment shall not be deemed to terminate by reason of the
optionee’s transfer 

  

 7 

 
from the Company to an Affiliate, or vice versa, or sick leave, military leave or other leave of absence approved by the Administrator, if the period of any
such leave does not exceed ninety (90) days or, if longer, if the optionee’s right to reemployment by the Company or any Affiliate is guaranteed either contractually or by statute. 
  
 6.4 Terms and Conditions Applicable Solely to SARs. In addition to the other terms and conditions applicable to SARs
in this Section 6, the holder shall be entitled to receive on exercise of an SAR only Common Stock at a fair market value equal to the benefit to be received by the exercise. At the request of the holder, and with the approval of the Administrator
(which approval may be granted or withheld in the sole and absolute discretion of the Administrator), the benefit may be payable in cash or partly in Common Stock and partly in cash. 
  

	7.	MANNER OF EXERCISE 

  
 7.1 An optionee wishing to exercise an Option or SAR shall give written notice to the Company at its principal executive office, to the attention of the
officer of the Company designated by the Administrator, accompanied by payment of the exercise price and/or withholding taxes as provided in Sections 6.1.6 and 6.1.7. The date the Company receives written notice of an exercise hereunder accompanied
by the applicable payment will be considered as the date such Option or SAR was exercised. 
  
 7.2 Promptly after receipt of written notice of exercise and the applicable payments called for by Section 7.1, the Company shall, without stock issue or transfer taxes to the holder or other person entitled to
exercise the Option or SAR, deliver to the holder or such other person a certificate or certificates for the requisite number of shares of Common Stock. A holder or permitted transferee of an Option or SAR shall not have any privileges as a
stockholder with respect to any shares of Common Stock to be issued until the date of issuance (as evidenced by the appropriate entry on the books of the Company or a duly authorized transfer agent) of such shares. 
  

	8.	RESTRICTED STOCK 

  
 8.1 Grant or Sale of Restricted Stock. 
  
 8.1.1 No awards of restricted stock shall be granted under this Plan after ten (10) years from the date of adoption of this Plan by the
Board. 
  
 8.1.2 The Administrator may issue
shares under the Plan as a grant or for such consideration (including services, and, subject to the Sarbanes-Oxley Act of 2002, promissory notes) as determined by the Administrator. Shares issued under the Plan shall be subject to the terms,
conditions and restrictions determined by the Administrator. The restrictions may include restrictions concerning transferability, repurchase by the Company and forfeiture of the shares issued, together with such other restrictions as may be
determined by the Administrator. If shares are subject to forfeiture or repurchase by the Company, all dividends or other distributions paid by the Company with respect to the shares may be retained by the Company until the shares are no longer
subject to forfeiture or repurchase, at which time all accumulated amounts shall be paid to the recipient. All Common Stock issued pursuant to this Section 8 shall be subject to a 

  

 8 

 
purchase or grant agreement, which shall be executed by the Company and the prospective recipient of the shares prior to the delivery of certificates
representing such shares to the recipient. The purchase or grant agreement may contain any terms, conditions, restrictions, representations and warranties required by the Administrator. The certificates representing the shares shall bear any legends
required by the Administrator. The Administrator may require any purchaser of restricted stock to pay to the Company in cash upon demand amounts necessary to satisfy any applicable federal, state or local tax withholding requirements. If the
purchaser fails to pay the amount demanded, the Administrator may withhold that amount from other amounts payable by the Company to the purchaser, including salary, subject to applicable law. With the consent of the Administrator in its sole
discretion, a purchaser may deliver Common Stock to the Company to satisfy this withholding obligation. Upon the issuance of restricted stock, the number of shares reserved for issuance under the Plan shall be reduced by the number of shares issued.

  
 8.2 Changes in Capital Structure. In the event of a
change in the Company’s capital structure, as described in Section 6.1.1, appropriate adjustments shall be made by the Administrator, in its sole discretion, in the number and class of restricted stock subject to this Plan and the restricted
stock outstanding under this Plan; provided, however, that the Company shall not be required to issue fractional shares as a result of any such adjustments. 
  
 8.3 Corporate Transactions. In the event of a Corporate Transaction, as defined in Section 6.1.2 hereof, to the
extent not previously forfeited, all restricted stock shall be forfeited immediately prior to the consummation of such Corporate Transaction unless the Administrator determines otherwise in its sole discretion; provided, however, that
the Administrator, in its sole discretion, may remove any restrictions as to any restricted stock. The Administrator may, in its sole discretion, provide that all outstanding restricted stock participate in the Corporate Transaction with an
equivalent stock substituted by an applicable successor corporation subject to the restriction. 
  

	9.	EMPLOYMENT OR CONSULTING RELATIONSHIP 

  
 Nothing in this Plan or any Option granted hereunder shall interfere with or limit in any way the right of the Company or of any of its Affiliates to
terminate the employment, consulting or advising of any optionee or restricted stock holder at any time, nor confer upon any optionee or restricted stock holder any right to continue in the employ of, or consult or advise with, the Company or any of
its Affiliates. 
  

 9 

	10.	CONDITIONS UPON ISSUANCE OF SHARES 

  
 10.1 Securities Act. Shares of Common Stock shall not be issued pursuant to the exercise of an Option or the receipt of restricted stock unless the
exercise of such Option or such receipt of restricted stock and the issuance and delivery of such shares pursuant thereto shall comply with all relevant provisions of law, including, without limitation, the Securities Act of 1933, as amended (the
“Securities Act”). 
  
 10.2 Non-Compete
Agreement. As a further condition to the receipt of Common Stock pursuant to the exercise of an Option or the receipt of restricted stock, the optionee or recipient of restricted stock may be required not to render services for any organization,
or engage directly or indirectly in any business, competitive with the Company at any time during which (i) an Option is outstanding to such Optionee and for six (6) months after any exercise of an Option or the receipt of Common Stock pursuant to
the exercise of an Option and (ii) restricted stock is owned by such recipient and for six (6) months after the restrictions on such restricted stock lapse. Failure to comply with this condition shall cause such Option and the exercise or issuance
of shares thereunder and/or the award of restricted stock to be rescinded and the benefit of such exercise, issuance or award to be repaid to the Company. 
  

	11.	NON-EXCLUSIVITY OF THIS PLAN 

  
 The adoption of this Plan shall not be construed as creating any limitations on the power of the Company to adopt such other incentive arrangements as it
may deem desirable, including, without limitation, the granting of stock options other than under this Plan. 
  

	12.	MARKET STAND-OFF 

  
 Each optionee, holder of an SAR or recipient of restricted stock, if so requested by the Company or any representative of the underwriters in connection
with any registration of the offering of any securities of the Company under the Securities Act, shall not sell or otherwise transfer any shares of Common Stock acquired upon exercise of Options, SARs or receipt of restricted stock during the
180-day period following the effective date of a registration statement of the Company filed under the Securities Act; provided, however, that such restriction shall apply only to a registration statement of the Company which includes
securities to be sold on behalf of the Company to the public in an underwritten public offering under the Securities Act and the restriction period shall not exceed 90 days after the registration statement becomes effective. 
  

 10 

	13.	AMENDMENTS TO PLAN 

  
 The Board may at any time amend, alter, suspend or discontinue this Plan. Without the consent of an optionee, holder of an SAR or holder of restricted
stock, no amendment, alteration, suspension or discontinuance may adversely affect such person’s outstanding Option(s), SAR(s) or the terms applicable to restricted stock except to conform this Plan and ISOs granted under this Plan to the
requirements of federal or other tax laws relating to incentive stock options. No amendment, alteration, suspension or discontinuance shall require stockholder approval unless (a) stockholder approval is required to preserve incentive stock option
treatment for federal income tax purposes or (b) the Board otherwise concludes that stockholder approval is advisable. 
  

	14.	EFFECTIVE DATE OF PLAN; TERMINATION 

  
 This Plan shall become effective upon adoption by the Board; provided, however, that no Option or SAR shall be exercisable unless and until
written consent of the stockholders of the Company, or approval of stockholders of the Company voting at a validly called stockholders’ meeting, is obtained within twelve (12) months after adoption by the Board. If any Options or SARs are so
granted and stockholder approval shall not have been obtained within twelve (12) months of the date of adoption of this Plan by the Board, such Options and SARs shall terminate retroactively as of the date they were granted. Awards may be made under
this Plan and exercise of Options and SARs shall occur only after there has been compliance with all applicable federal and state securities laws. This Plan (but not Options and SARs previously granted under this Plan) shall terminate within ten
(10) years from the date of its adoption by the Board. Termination shall not affect any outstanding Options or SARs or the terms applicable to previously awarded restricted stock. 
  

 11

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